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  "fact-390": {
   "value": "-0.0",
   "decimals": -6,
   "dimensions": {
    "concept": "britishland:PurchaseOfNonControllingInterests",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-391": {
   "value": "-0.0",
   "decimals": -6,
   "dimensions": {
    "concept": "britishland:PurchaseOfNonControllingInterests",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-392": {
   "value": "-0.0",
   "decimals": -6,
   "dimensions": {
    "concept": "britishland:PurchaseOfNonControllingInterests",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-393": {
   "value": "13000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "britishland:PurchaseOfNonControllingInterests",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-394": {
   "value": "13000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "britishland:PurchaseOfNonControllingInterests",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-395": {
   "value": "-0.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:DividendsPaid",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-396": {
   "value": "-0.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:DividendsPaid",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-397": {
   "value": "-0.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:DividendsPaid",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-398": {
   "value": "-0.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:DividendsPaid",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-399": {
   "value": "221000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:DividendsPaid",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-400": {
   "value": "221000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:DividendsPaid",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-401": {
   "value": "-0.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:DividendsPaid",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-402": {
   "value": "221000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:DividendsPaid",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-403": {
   "value": "253000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-404": {
   "value": "1589000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-405": {
   "value": "13000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RevaluationSurplusMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-406": {
   "value": "213000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:MergerReserveMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-407": {
   "value": "3642000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-408": {
   "value": "5710000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-409": {
   "value": "0.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-410": {
   "value": "5710000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-15": {
   "value": "18000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:IssueOfEquity",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:GBP"
   }
  },
  "fact-16": {
   "value": "277000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "britishland:SharesIssuedSharePremium",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-416": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gse\">1 <span class=\"_ _23\"> </span><span class=\"ls21b\">Basis of preparation, <span class=\"ls21c\">material</span></span> <span class=\"ls21d\">accounti<span class=\"_ _0\"></span>ng </span></div><div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls21e ws1 gsf\">policies and accounting judgements<span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls21f ws1 gs10\">Basis of preparat<span class=\"_ _0\"></span>ion<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs11\">The financial <span class=\"_ _1\"></span>statements for the year<span class=\"_ _1\"></span> ended 31 March 202<span class=\"ls1\">6 </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs12\">have been prepared on the his<span class=\"_ _1\"></span>torical cost basis, <span class=\"_ _1\"></span>except for </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs13\">the revaluation of properties<span class=\"_ _0\"></span>, investments classified as fair </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs14\">value through profit or <span class=\"_ _1\"></span>loss and derivatives. <span class=\"ls220\">The f<span class=\"_ _1\"></span>inancial </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs15\">statements have been prepared in accordance with UK<span class=\"ls1\">-<span class=\"_ _216\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs16\">adopted International<span class=\"ls1\"> <span class=\"ls1ec\">Account<span class=\"_ _1\"></span>ing Standard<span class=\"_ _1\"></span>s and with <span class=\"_ _1\"></span>the </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs17\">requirements of the C<span class=\"_ _0\"></span>ompanies Act 2006<span class=\"_ _0\"></span> as applicable to </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs18\">companies reporting under those standards.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs19\">No new stan<span class=\"_ _1\"></span>dards or amen<span class=\"_ _1\"></span>dments have bee<span class=\"_ _1\"></span>n applied t<span class=\"_ _1\"></span>o </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs1a\">the financial statements for th<span class=\"_ _0\"></span>e first time for the year </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs1b\">ended 31 Marc<span class=\"ls221\">h 2026. <span class=\"ls20f\">The standar<span class=\"_ _1\"></span>ds and <span class=\"lsf2\">amendments<span class=\"ls1\"> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls212 ws1 gs1c\">which hav<span class=\"_ _1\"></span>e been is<span class=\"_ _1\"></span>sued but a<span class=\"_ _1\"></span>re not yet<span class=\"_ _1\"></span> effecti<span class=\"_ _1\"></span>ve inclu<span class=\"_ _1\"></span>de </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls227 ws1 gs1d\">IFRS 18 \u2018Pres<span class=\"_ _0\"></span>entation and D<span class=\"_ _0\"></span>isclosure in F<span class=\"_ _0\"></span>inancial </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls228 ws1 gs1e\">Statements\u2019<span class=\"ls1\"> <span class=\"lsf2\">and</span> <span class=\"lsf2\">amendments to both <span class=\"_ _1\"></span>IFRS 9 \u2018Financial </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls227 ws1 gs1f\">Instrument<span class=\"_ _0\"></span>s\u2019 and IFRS 7 \u2018Fin<span class=\"_ _0\"></span>ancial Instrum<span class=\"_ _0\"></span>ents: Disclosu<span class=\"_ _0\"></span>res\u2019 </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls229 ws1 gs20\">in respect o<span class=\"_ _0\"></span>f the classifica<span class=\"_ _0\"></span>tion and me<span class=\"_ _0\"></span>asurement<span class=\"_ _0\"></span> of financial </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls229 ws1 gs21\">instrumen<span class=\"_ _0\"></span>ts<span class=\"ls22a\">. <span class=\"ls22b\">With <span class=\"_ _1\"></span>the ex<span class=\"_ _1\"></span>cepti<span class=\"_ _1\"></span>on of <span class=\"_ _1\"></span>IFRS <span class=\"_ _1\"></span>18<span class=\"ls1\"> <span class=\"ls22c\">detail<span class=\"_ _1\"></span>ed below<span class=\"ls22a\">, </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs22\">these amendm<span class=\"_ _0\"></span>ents to standards that are not yet e<span class=\"_ _0\"></span>ffective </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 lsf2 ws1 gs23\">are not expected to have a material<span class=\"_ _1\"></span> impact on the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22d ws1 gs24\">Group\u2019s<span class=\"ls1\"> <span class=\"ls211\">results.</span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs25\">IFRS 18 will re<span class=\"_ _0\"></span>place IAS <span class=\"ls22f\">1 \u2018Presen<span class=\"_ _0\"></span>tation of <span class=\"ls1\">F<span class=\"ls1fc\">inancia<span class=\"_ _0\"></span>l </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs26\">S<span class=\"ls222\">tatements\u2019</span> <span class=\"ls225\">and is effective for annual periods beginning </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs27\">on or after 1 <span class=\"_ _1\"></span>January 2027. IFRS 18 wi<span class=\"_ _1\"></span>ll not impact the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs28\">recognition or measu<span class=\"_ _0\"></span>rement of items in the financial </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs29\">statements, but its impact on presentation and disclosure </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2a\">is expecte<span class=\"_ _0\"></span>d to be mate<span class=\"_ _0\"></span>rial. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls230 ws1 gs2b\">Management <span class=\"_ _1\"></span>is curre<span class=\"_ _1\"></span>ntly asse<span class=\"_ _1\"></span>ssing the<span class=\"_ _1\"></span> detaile<span class=\"_ _1\"></span>d </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2c\">implication<span class=\"_ _0\"></span>s of applying<span class=\"_ _0\"></span> the new sta<span class=\"_ _0\"></span>ndard <span class=\"ls222\">to<span class=\"ls1\"> </span>the G<span class=\"_ _0\"></span>roup\u2019s </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs2d\">consolidated<span class=\"ls1\"> <span class=\"ls231\">financial statements<span class=\"_ _0\"></span>. From the preliminary<span class=\"_ _0\"></span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs2e\">assessment performed, the following potent<span class=\"_ _1\"></span>ial impacts </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs2f\">have been identified: <span class=\"_ _1\"></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs30\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls232\">Rental income fr<span class=\"_ _1\"></span>om investment proper<span class=\"_ _1\"></span>ty, valuati<span class=\"_ _1\"></span>on </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs31\">movements<span class=\"_ _1\"></span> on inv<span class=\"_ _1\"></span>estment <span class=\"_ _1\"></span>property<span class=\"_ _1\"></span> and any<span class=\"_ _1\"></span> gains <span class=\"_ _1\"></span>or </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs32\">losses on th<span class=\"_ _0\"></span>e disposal o<span class=\"_ _0\"></span>f investmen<span class=\"ls222\">t p<span class=\"_ _0\"></span>roperty will be </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs33\">presented in th<span class=\"_ _1\"></span>e operating category of<span class=\"_ _1\"></span> the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs34\">consolidated income statement<span class=\"ls235\">, as they arise fr<span class=\"_ _0\"></span>om the </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs35\">Group\u2019s spe<span class=\"_ _1\"></span>cified main <span class=\"_ _1\"></span>business act<span class=\"_ _1\"></span>ivity <span class=\"ls220\">of<span class=\"ls1\"> <span class=\"ls1fc\">investing in </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs36\">investmen<span class=\"_ _0\"></span>t property<span class=\"ls1\">. </span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs37\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls220\">The Group\u2019s s<span class=\"ls221\">hare of joint<span class=\"_ _1\"></span> venture result, and any </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs38\">income o<span class=\"_ _0\"></span>r e<span class=\"ls226\">xpenses associated with joint ventures<span class=\"_ _1\"></span>, </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs39\">will b<span class=\"_ _1\"></span>e presented<span class=\"_ _1\"></span> in the <span class=\"_ _1\"></span>investing <span class=\"_ _1\"></span>category,<span class=\"_ _1\"></span> outside <span class=\"_ _1\"></span>of </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs3a\">IFRS 18\u2019s new<span class=\"_ _0\"></span> mandatory<span class=\"_ _0\"></span> operating prof<span class=\"_ _0\"></span>it subtotal. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs3b\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls220\">The line items presente<span class=\"_ _1\"></span>d within the primary <span class=\"_ _1\"></span>financial </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs3c\">statements might change as a result of the enhanced </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs3d\">pr<span class=\"ls1fc\">inciples on a<span class=\"_ _0\"></span>ggregation<span class=\"_ _0\"></span> and disagg<span class=\"_ _0\"></span>regation.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs3e\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls1ec\">New disclosure<span class=\"_ _1\"></span>s will be <span class=\"_ _1\"></span>added <span class=\"ls222\">to<span class=\"ls1\"> </span>the notes to the </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs3f\">financial statemen<span class=\"_ _0\"></span>ts covering manag<span class=\"_ _0\"></span>ement<span class=\"ls1\">-<span class=\"ls234\">defined </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs40\">performance measures; <span class=\"_ _1\"></span>specified expenses by<span class=\"_ _1\"></span> nature; </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs41\">and for the first r<span class=\"_ _1\"></span>eporting period of applying<span class=\"ls1\"> <span class=\"ls22e\">IFRS 18, a </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs42\">rec<span class=\"ls220\">onciliation between <span class=\"_ _1\"></span>the restated comparative<span class=\"_ _1\"></span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs43\">amounts presented under IFRS 18 and the amounts </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs44\">previously prese<span class=\"_ _1\"></span>nted under IAS 1.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs45\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls22e\">In the <span class=\"ls226\">consolidated <span class=\"ls224\">statement of cash flow<span class=\"ls1\">s<span class=\"ls235\">, f<span class=\"_ _0\"></span>ollowing </span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs46\">the <span class=\"ls221\">narrow scope amendments to IAS 7 <span class=\"ls235\">\u2018Statement of </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs47\">Cash Flows\u2019 <span class=\"_ _1\"></span><span class=\"ls236\">which apply<span class=\"_ _1\"></span><span class=\"ls1\"> <span class=\"ls225\">at the same time as IFRS 18, </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs48\">i<span class=\"ls221\">nterest received and dist<span class=\"_ _1\"></span>ributions from joint <span class=\"_ _1\"></span>ventures </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs49\">will b<span class=\"_ _1\"></span>e presented<span class=\"_ _1\"></span> in the <span class=\"_ _1\"></span>investing <span class=\"_ _1\"></span>category <span class=\"_ _1\"></span>and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs4a\">interest pa<span class=\"_ _0\"></span>id will be prese<span class=\"_ _0\"></span>nted in finan<span class=\"_ _0\"></span>cing catego<span class=\"_ _0\"></span>ry. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs4b\">The Group will appl<span class=\"_ _1\"></span>y <span class=\"ls22e\">IFRS 18<span class=\"ls1\"> <span class=\"ls231\">for th<span class=\"_ _0\"></span>e financial year end<span class=\"ls1fc\">ing<span class=\"_ _0\"></span></span></span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs4c\">31 March 2028. Retrospecti<span class=\"_ _1\"></span>ve application is requir<span class=\"_ _1\"></span>ed<span class=\"ls1\">, </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs4d\">therefore the comp<span class=\"_ _0\"></span>arative information for the financial </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs4e\">year ending 31 March 2027 will<span class=\"_ _1\"></span> be restated in accordance </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs4f\">with IF<span class=\"_ _1\"></span>RS 18. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs50\">These financial <span class=\"_ _1\"></span>statements are presented <span class=\"_ _1\"></span>in<span class=\"ls1\"> <span class=\"ls234\">Pounds </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20c ws1 gs51\">Sterling<span class=\"ls1\"> <span class=\"ls236\">which <span class=\"_ _1\"></span>is the <span class=\"_ _1\"></span>functional<span class=\"_ _1\"></span> currency <span class=\"_ _1\"></span>of the Gr<span class=\"_ _1\"></span>oup,<span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs52\">to<span class=\"ls1\"> </span>the nearest million. <span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls237 ws1 gs53\">Going concern<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs54\">The financial <span class=\"_ _1\"></span>statements are prepared on <span class=\"_ _1\"></span>a going concern </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs55\">basis. The consol<span class=\"_ _1\"></span>idated balance sheet<span class=\"_ _1\"></span> shows that the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs56\">Group is <span class=\"_ _1\"></span>in a net c<span class=\"_ _1\"></span>urrent li<span class=\"_ _1\"></span>ability pos<span class=\"_ _1\"></span>itio<span class=\"ls221\">n, predominantly </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs57\">due to <span class=\"ls224\">short term borrowings and overdrafts of \u00a3<span class=\"ls238\">521<span class=\"ls233\">m <span class=\"ls225\">and </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs58\">current creditors<span class=\"ls1\"> <span class=\"ls220\">of \u00a3<span class=\"ls239\">281<span class=\"ls233\">m.<span class=\"_ _1\"></span> The Gro<span class=\"_ _1\"></span>up has a<span class=\"_ _1\"></span>ccess t<span class=\"_ _1\"></span>o \u00a3<span class=\"ls210\">1.<span class=\"ls1\">6<span class=\"ls234\">bn </span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs59\">of undrawn facili<span class=\"_ _1\"></span>ties and cash, whic<span class=\"_ _1\"></span>h provides the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs5a\">Directors<span class=\"_ _1\"></span> with a re<span class=\"_ _1\"></span>asonable expect<span class=\"_ _1\"></span>ation that <span class=\"_ _1\"></span>the Group </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs5b\">will b<span class=\"_ _1\"></span>e able to <span class=\"_ _1\"></span>m<span class=\"ls223\">eet these current liabi<span class=\"_ _1\"></span>lities as they fall<span class=\"_ _1\"></span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs5c\">due. In making t<span class=\"_ _1\"></span>his assessment the Di<span class=\"_ _1\"></span>rectors took into </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs5d\">account forecast cash flows and covenant <span class=\"_ _1\"></span>compliance, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs5e\">including st<span class=\"_ _0\"></span>ress testing th<span class=\"_ _0\"></span>rough the im<span class=\"_ _0\"></span>pact of sen<span class=\"_ _0\"></span>sitivities </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs5f\">as part of a \u2018severe but <span class=\"_ _1\"></span>plausible downside <span class=\"ls224\">scenario\u2019. </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls232 ws1 gs60\">Before fact<span class=\"_ _1\"></span>oring in any <span class=\"_ _1\"></span>income receivabl<span class=\"_ _1\"></span>e, the undrawn </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs61\">facilities and cash wo<span class=\"_ _0\"></span>uld also be sufficient to co<span class=\"_ _0\"></span>ver </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs62\">forecast capital exp<span class=\"_ _0\"></span>enditure, property ope<span class=\"_ _0\"></span>rating costs, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs63\">administrative expenses, maturing <span class=\"_ _1\"></span>debt and interest <span class=\"ls231\">for </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs64\">a <span class=\"ls233\">minimum of<span class=\"_ _1\"></span> <span class=\"ls22f\">12 months f<span class=\"ls222\">rom<span class=\"_ _0\"></span> the approval date of these </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs65\">financial statemen<span class=\"_ _0\"></span>ts. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23a ws1 gs66\">Having asses<span class=\"_ _1\"></span>sed the prin<span class=\"_ _1\"></span>cipal risks<span class=\"_ _1\"></span>, the Dire<span class=\"_ _1\"></span>ctors believ<span class=\"_ _1\"></span>e </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs67\">that the Group is well placed<span class=\"_ _0\"></span> to manage its financing and<span class=\"_ _0\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs68\">other business r<span class=\"_ _1\"></span>isks satisfactori<span class=\"_ _1\"></span>ly despite the uncer<span class=\"_ _1\"></span>tain </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23b ws1 gs69\">economic climate<span class=\"ls1\">, <span class=\"lsf2\">and have a <span class=\"_ _1\"></span>reasonable expectation that </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs6a\">the Group ha<span class=\"ls1\">s <span class=\"lsf2\">adequate resources to continue in operati<span class=\"_ _1\"></span>on </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23c ws1 gs6b\">for at least 12 month<span class=\"_ _0\"></span>s from the signing d<span class=\"_ _0\"></span>ate of these </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23c ws1 gs6c\">financial stateme<span class=\"_ _0\"></span>nts. Accordingly, the<span class=\"_ _0\"></span>y believe the going<span class=\"_ _0\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23d ws1 gs6d\">concern<span class=\"ls1\"> <span class=\"ls22c\">basis is <span class=\"_ _1\"></span>an appropriate one.<span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs6e\">Subsidiaries<span class=\"ls1\"> <span class=\"ls23f\">and</span> <span class=\"ls240\">joint ventures </span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs6f\">The consolidated acc<span class=\"_ _1\"></span>ounts include the accounts<span class=\"_ _1\"></span> of </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs70\">The<span class=\"ls1\"> <span class=\"ls232\">British Lan<span class=\"_ _1\"></span>d Company PLC</span></span><span class=\"ls1\"><span class=\"ls232\"> (<span class=\"ls222\">the Company<span class=\"ls1\">) <span class=\"ls225\">and all </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs71\">subsidiaries<span class=\"ls1\"> (<span class=\"ls223\">entities controlled by Bri<span class=\"_ _1\"></span>tish Land). Control is </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs72\">assumed where <span class=\"ls222\">the Company <span class=\"ls1fc\">is e<span class=\"_ _0\"></span>xposed, or h<span class=\"_ _0\"></span>as the right<span class=\"_ _0\"></span>s, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs73\">to variable returns from its involve<span class=\"_ _0\"></span>ment with investees and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs74\">has the ability <span class=\"_ _1\"></span>to affect those returns <span class=\"_ _1\"></span>through its power </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs75\">over those invest<span class=\"_ _1\"></span>ees.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs76\">The results of <span class=\"_ _1\"></span>subsidiaries and j<span class=\"_ _1\"></span>oint ventures acquire<span class=\"_ _1\"></span>d </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs77\">or<span class=\"ls1\"> <span class=\"ls234\">disposed of duri<span class=\"_ _1\"></span>ng the yea<span class=\"ls222\">r are included from the </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs78\">effective date of acqui<span class=\"_ _1\"></span>sition or up to the effect<span class=\"_ _1\"></span>ive date </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs79\">of<span class=\"ls1\"> <span class=\"ls234\">disposal. Accounti<span class=\"_ _1\"></span>ng policies of s<span class=\"_ _1\"></span>ubsidiaries and j<span class=\"_ _1\"></span>oint </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs7a\">ventures which differ f<span class=\"_ _1\"></span>rom Group accounting policies are </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs7b\">adjusted on consolidation.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div>All int<span class=\"_ _1\"></span>ra<span class=\"ls1\">-<span class=\"ls20d\">Group transac<span class=\"_ _1\"></span>tions, bal<span class=\"_ _1\"></span>ances, income <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span>expenses are eliminated on consol<span class=\"_ _1\"></span>idation. Joint ventures<span class=\"_ _216\"> </span>are accounted for under the equity <span class=\"_ _1\"></span>method, whereby the<span class=\"_ _216\"> </span>consolidated balance sheet incorp<span class=\"ls220\">orate<span class=\"_ _1\"></span>s the Group\u2019s share<span class=\"_ _216\"> </span></span>(investor\u2019s share) of the net assets of its joint ventures.<span class=\"_ _216\"> </span>The consolidated i<span class=\"_ _1\"></span>ncome statement incorporates <span class=\"_ _1\"></span>the<span class=\"_ _216\"> </span>Group\u2019s sh<span class=\"_ _1\"></span>are of joi<span class=\"_ _1\"></span>nt ventures <span class=\"_ _1\"></span>profits af<span class=\"_ _1\"></span>ter tax. <span class=\"_ _1\"></span>Their<span class=\"_ _216\"> </span>profits incl<span class=\"_ _1\"></span>ude revaluation movements <span class=\"_ _1\"></span>on properties.<span class=\"_ _216\"> </span>Where <span class=\"_ _1\"></span>join<span class=\"ls222\">t ventures generate losses after tax, these are<span class=\"_ _216\"> </span></span>recognised initially against the Gro<span class=\"_ _0\"></span>up\u2019s equity investment.<span class=\"_ _216\"> </span>If the Group\u2019s<span class=\"_ _0\"></span> equity investm<span class=\"_ _0\"></span>ent is nil, these a<span class=\"_ _0\"></span>re<span class=\"_ _216\"> </span>subsequently then recognised against other long term<span class=\"_ _216\"> </span>interests, pr<span class=\"_ _0\"></span>incipally long<span class=\"_ _0\"></span> term loans.<span class=\"_ _216\"> </span>Dist<span class=\"ls222\">ributions and other receivables from join<span class=\"_ _0\"></span>t ventures<span class=\"_ _216\"> </span></span>are<span class=\"ls1\"> <span class=\"ls226\">classed as cash flows from operating acti<span class=\"_ _1\"></span>vities, except<span class=\"_ _216\"> </span></span></span>where the<span class=\"_ _1\"></span>y relate <span class=\"_ _1\"></span>to a cash<span class=\"_ _1\"></span> flow ari<span class=\"_ _1\"></span>sing fr<span class=\"_ _1\"></span>om a capita<span class=\"_ _1\"></span>l<span class=\"_ _216\"> </span>transaction, such as a prop<span class=\"_ _0\"></span>erty or investment disposal.<span class=\"_ _216\"> </span>In<span class=\"ls1\"> <span class=\"ls222\">this case they are classe<span class=\"_ _0\"></span>d as</span> <span class=\"ls226\">cash flows from<span class=\"_ _216\"> </span></span></span>investing<span class=\"ls1\"> <span class=\"ls225\">activities. </span></span>The Group<span class=\"ls1\"> <span class=\"ls225\">assesse</span>s <span class=\"ls222\">the recoverability of <span class=\"ls1fc\">inv<span class=\"_ _0\"></span>estments in<span class=\"_ _216\"> </span></span></span></span>and <span class=\"ls1fc\">loans to join<span class=\"_ _0\"></span>t ventures ag<span class=\"_ _0\"></span>ainst the joint<span class=\"_ _0\"></span> venture\u2019s <span class=\"ls221\">net<span class=\"_ _216\"> </span></span></span>asset value. Amounts due are expected to <span class=\"_ _1\"></span>be recovered<span class=\"_ _216\"> </span>by a joint ve<span class=\"_ _1\"></span>nture selling i<span class=\"_ _1\"></span>ts properties and <span class=\"ls1fc\">investments<span class=\"_ _216\"> </span></span>and settling financial<span class=\"_ _1\"></span> assets, net of financial<span class=\"_ _1\"></span> liabilities.<span class=\"_ _216\"> </span>The<span class=\"ls1\"> <span class=\"ls221\">net asset value of a <span class=\"_ _1\"></span>joint venture is consi<span class=\"_ _1\"></span>dered to be<span class=\"_ _216\"> </span></span></span>a <span class=\"ls222\">reasonable ap<span class=\"_ _0\"></span>proximation of the available asse<span class=\"_ _0\"></span>ts that<span class=\"_ _216\"> </span></span>could be realised to recover t<span class=\"_ _1\"></span>he amounts due and the<span class=\"_ _216\"> </span>requirement to recog<span class=\"_ _0\"></span>nise expected credit losses.<span class=\"_ _216\"> </span>Impairmen<span class=\"_ _0\"></span>t of investmen<span class=\"_ _0\"></span>ts in joint ventu<span class=\"_ _0\"></span>res is calculated<span class=\"_ _216\"> </span>in<span class=\"ls1\"> <span class=\"ls225\">accordance with IAS 36 \u2018Impairment of Assets\u2019, <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span>impairme<span class=\"_ _0\"></span>nt of loans to<span class=\"_ _0\"></span> joint venture<span class=\"_ _0\"></span>s is calculated<span class=\"_ _0\"></span> in<span class=\"_ _216\"> </span>accordance with IFRS <span class=\"ls220\">9.<span class=\"_ _216\"> </span></span>Properties<span class=\"_ _216\"> </span>Properties are <span class=\"_ _1\"></span><span class=\"ls223\">externally valued at the balance <span class=\"_ _1\"></span>sheet date.<span class=\"_ _216\"> </span></span>Investmen<span class=\"_ _0\"></span>t properties are r<span class=\"_ _0\"></span>ecorded at va<span class=\"_ _0\"></span>luation where<span class=\"_ _0\"></span>as<span class=\"_ _216\"> </span>trading properties are stated<span class=\"_ _0\"></span> at the lower of cost and net<span class=\"_ _216\"> </span>realisable value.<span class=\"_ _216\"> </span>Any surplu<span class=\"_ _1\"></span>s or defic<span class=\"_ _1\"></span>it arisi<span class=\"_ _1\"></span>ng on reval<span class=\"_ _1\"></span>uing invest<span class=\"_ _1\"></span>ment<span class=\"_ _216\"> </span>properties is <span class=\"_ _1\"></span>recognised in the <span class=\"_ _1\"></span>Capital and other col<span class=\"_ _1\"></span>umn<span class=\"_ _216\"> </span>of<span class=\"ls1\"> <span class=\"ls222\">the income statem<span class=\"_ _0\"></span>ent.<span class=\"_ _216\"> </span></span></span>The cost of propert<span class=\"_ _1\"></span>ies in the course <span class=\"_ _1\"></span>of development<span class=\"_ _216\"> </span>includes at<span class=\"_ _0\"></span>tributable inte<span class=\"_ _0\"></span>rest and oth<span class=\"_ _0\"></span>er associate<span class=\"_ _0\"></span>d<span class=\"_ _216\"> </span>outgoings includi<span class=\"_ _1\"></span>ng attributable devel<span class=\"_ _1\"></span>opment personnel<span class=\"_ _216\"> </span>costs. Interest is <span class=\"_ _1\"></span>calculated on the d<span class=\"ls223\">evelopment<span class=\"_ _216\"> </span></span>expenditure by reference to s<span class=\"_ _1\"></span>pecific borrowings, where<span class=\"_ _216\"> </span>relevant, and otherwise on<span class=\"_ _0\"></span> the weighted average intere<span class=\"_ _0\"></span>st<span class=\"_ _216\"> </span>rate of the Group\u2019s <span class=\"ls234\">borrowings. Interest is<span class=\"_ _1\"></span> not capitalised<span class=\"_ _216\"> </span></span>where no <span class=\"_ _1\"></span>development <span class=\"_ _1\"></span>activity <span class=\"_ _1\"></span>is taki<span class=\"_ _1\"></span>ng place. <span class=\"_ _1\"></span>A property<span class=\"_ _216\"> </span>ceases to be tr<span class=\"ls223\">eated as a devel<span class=\"_ _1\"></span>opment property on<span class=\"_ _216\"> </span></span>practical complet<span class=\"_ _1\"></span>ion.<span class=\"_ _216\"> </span>Investmen<span class=\"_ _0\"></span>t property dispo<span class=\"_ _0\"></span>sals are recogn<span class=\"_ _0\"></span>ised on<span class=\"_ _216\"> </span>completion. Profits and losses <span class=\"_ _1\"></span>arising are recognised<span class=\"_ _216\"> </span>through the Capital and<span class=\"_ _0\"></span> other column of the incom<span class=\"_ _0\"></span>e statement.<span class=\"ls1\"> <span class=\"ls220\">The profit or loss<span class=\"_ _1\"></span> on disposal<span class=\"ls1\"> <span class=\"ls1fc\">is d<span class=\"ls223\">etermined as </span></span></span></span></span>the difference between<span class=\"_ _0\"></span> the net sales proceeds and th<span class=\"_ _0\"></span>e carrying amount of the asset at the <span class=\"_ _1\"></span>commencement of the accounting period plus capital <span class=\"_ _1\"></span>expenditure in the period. Where <span class=\"_ _1\"></span>proper<span class=\"_ _1\"></span>ties <span class=\"_ _1\"></span>are di<span class=\"_ _1\"></span>spose<span class=\"_ _1\"></span>d into<span class=\"_ _1\"></span> a j<span class=\"_ _1\"></span>oint v<span class=\"_ _1\"></span>entur<span class=\"_ _1\"></span>e owned<span class=\"_ _1\"></span> by the Group, th<span class=\"_ _1\"></span>e profit recognised <span class=\"_ _1\"></span>in the Capital a<span class=\"_ _1\"></span>nd other column of the <span class=\"_ _1\"></span>income statement is li<span class=\"_ _1\"></span>mited to the extent of the unrelated <span class=\"_ _1\"></span>party\u2019s interest. Any<span class=\"ls1\"> <span class=\"ls1fc\">loss is </span></span>recognised in the Capital an<span class=\"_ _0\"></span>d other column of the income<span class=\"ls1\"> <span class=\"ls224\">statem<span class=\"_ _0\"></span>ent in full. </span> </span>Trading properties<span class=\"_ _1\"></span> are <span class=\"ls1fc\">initially recog<span class=\"_ _0\"></span>nised at<span class=\"ls1\"> <span class=\"ls226\">cost and then </span></span></span>are subsequent<span class=\"ls1fc\">ly<span class=\"ls1\"> <span class=\"ls233\">measured <span class=\"_ _1\"></span>at<span class=\"ls1\"> <span class=\"ls222\">the lower of cost and net </span></span></span></span></span>realisable value. Trading prope<span class=\"_ _0\"></span>rty disposals are recognised in line with th<span class=\"_ _0\"></span>e Group\u2019s re<span class=\"_ _0\"></span>venue acco<span class=\"_ _0\"></span>unting policie<span class=\"_ _0\"></span>s.<span class=\"ls1\"> </span>Where <span class=\"_ _1\"></span>inves<span class=\"_ _1\"></span>tment <span class=\"_ _1\"></span>propert<span class=\"_ _1\"></span>ies <span class=\"_ _1\"></span>are ap<span class=\"_ _1\"></span>propri<span class=\"_ _1\"></span>ated t<span class=\"_ _1\"></span>o t<span class=\"ls222\">rading </span>properties, t<span class=\"_ _1\"></span>hey are transferred <span class=\"_ _1\"></span>at market value. I<span class=\"_ _1\"></span>f properties held <span class=\"_ _1\"></span>for trading are <span class=\"_ _1\"></span>appropriated to invest<span class=\"_ _1\"></span>ment properties, t<span class=\"_ _1\"></span>hey are transferred <span class=\"_ _1\"></span>at book value. <span class=\"ls1\"> </span>Transfers to or <span class=\"_ _1\"></span>from an investment propert<span class=\"_ _1\"></span>y occur when, and only when, there is evi<span class=\"_ _1\"></span>dence<span class=\"ls1\"> <span class=\"ls220\">of change in use.</span> </span>Where <span class=\"_ _1\"></span>a ri<span class=\"_ _1\"></span>ght<span class=\"ls1\">-<span class=\"ls220\">of</span>-<span class=\"ls221\">use asset meets the def<span class=\"_ _1\"></span>inition of </span></span>investmen<span class=\"_ _0\"></span>t property u<span class=\"_ _0\"></span>nder IFRS 16<span class=\"_ _0\"></span> \u2018Leases\u2019, the<span class=\"_ _0\"></span> right<span class=\"ls1\">-<span class=\"ls220\">of</span>-<span class=\"_ _216\"> </span></span>use asset will i<span class=\"_ _1\"></span>nitially be calculat<span class=\"_ _1\"></span>ed as the present value of<span class=\"ls1\"> <span class=\"ls233\">minimum <span class=\"_ _1\"></span>lease pa<span class=\"_ _1\"></span>yments un<span class=\"_ _1\"></span>der the <span class=\"_ _1\"></span>lease <span class=\"_ _1\"></span>and </span></span>subsequently measured u<span class=\"ls221\">nder the fair value model, based </span>on discounted cash f<span class=\"_ _1\"></span>lows of net rental <span class=\"_ _1\"></span>income earned under the lease.<span class=\"ls1\"> </span>The Group leases out <span class=\"_ _1\"></span>investment properties <span class=\"_ _1\"></span>under operating leases <span class=\"_ _1\"></span>with rents generall<span class=\"_ _1\"></span>y payable monthly or quarterly. The <span class=\"_ _1\"></span>Group is exposed to cha<span class=\"_ _1\"></span>nges in t<span class=\"ls221\">he residual </span>value of properties at <span class=\"_ _1\"></span>the end of current lease agreements,<span class=\"_ _1\"></span> and mitigates this ris<span class=\"_ _1\"></span>k by actively managing its tenant mix in order to m<span class=\"_ _0\"></span>aximise th<span class=\"_ _0\"></span>e weighted<span class=\"_ _0\"></span> average leas<span class=\"_ _0\"></span>e term, minimis<span class=\"_ _1\"></span>e vacanc<span class=\"_ _1\"></span>ies acr<span class=\"_ _1\"></span>oss the <span class=\"_ _1\"></span>portfo<span class=\"_ _1\"></span>lio and <span class=\"_ _1\"></span>maximise<span class=\"_ _1\"></span> exposure to tenan<span class=\"ls222\">ts with strong financial characteristics. </span>The Group also grants<span class=\"_ _1\"></span> tenant incentives <span class=\"_ _1\"></span>to encourage high quality tenant<span class=\"_ _1\"></span>s to remain in proper<span class=\"_ _1\"></span>ties for longer <span class=\"_ _1\"></span>lease terms. Tenant incentives<span class=\"_ _0\"></span>, such as rent<span class=\"ls1\">-<span class=\"ls231\">free periods a<span class=\"_ _0\"></span>nd </span></span>cash contributions to tenant fi<span class=\"_ _1\"></span>t<span class=\"ls1\">-<span class=\"ls220\">out, and contracted rent<span class=\"_ _1\"></span> </span></span>increases a<span class=\"_ _0\"></span>re recognise<span class=\"_ _0\"></span>d as part of t<span class=\"_ _0\"></span>he investme<span class=\"_ _0\"></span>nt property balance.<span class=\"_ _1\"></span> The Group calculates <span class=\"_ _1\"></span>the expected credit loss for tenant i<span class=\"_ _1\"></span>ncentives and contracted rent increases b<span class=\"_ _0\"></span>ased on lifetim<span class=\"_ _0\"></span>e expecte<span class=\"_ _0\"></span>d credit loss<span class=\"_ _0\"></span>es under the IFRS 9 simplified appro<span class=\"_ _0\"></span><span class=\"ls225\">ach.<span class=\"ls1\"> </span></span>Surrender premia payabl<span class=\"_ _1\"></span>e relating to i<span class=\"_ _1\"></span>nvestment properties are <span class=\"_ _1\"></span>recognised in the i<span class=\"_ _1\"></span>ncome statement, through the Unde<span class=\"_ _0\"></span>rlying column, except whe<span class=\"_ _0\"></span>re the surrender premia payable are deemed to be unusual or significant by virtue of<span class=\"ls1\"> <span class=\"ls222\">their size or nature, wher<span class=\"ls223\">e they are </span></span></span>recognised through<span class=\"_ _0\"></span> the Capital and other colum<span class=\"_ _0\"></span>n. Surrender premia payabl<span class=\"_ _1\"></span>e relating to deve<span class=\"_ _1\"></span>lopment properties are <span class=\"_ _1\"></span>capitalised as a <span class=\"_ _1\"></span>property addition provi<span class=\"_ _1\"></span>ding they are a directly attributable and<span class=\"_ _0\"></span> necessary development expense.<div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls247 ws1 gseb\">Financial assets a<span class=\"_ _0\"></span>nd liabilities<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gsec\">Debtors and <span class=\"_ _1\"></span>creditors <span class=\"_ _1\"></span>are initi<span class=\"_ _1\"></span>ally recogn<span class=\"_ _1\"></span>ised at fai<span class=\"_ _1\"></span>r value<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsed\">and subsequently measured at amortised cost and<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsee\">discounted as appropr<span class=\"_ _1\"></span>iate. On initi<span class=\"_ _1\"></span>al recog<span class=\"ls221\">nition the<span class=\"_ _216\"> </span></span><span class=\"ls221\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gsef\">Group calc<span class=\"_ _1\"></span>ulates the <span class=\"_ _1\"></span>expected credi<span class=\"_ _1\"></span>t loss fo<span class=\"_ _1\"></span>r debtors<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsf0\">based on lifet<span class=\"_ _1\"></span>ime expected credit l<span class=\"_ _1\"></span>osses under the IFRS 9<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gsf1\">simplified approach.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls248 ws1 gsf2\">Other i<span class=\"_ _1\"></span>nvestments i<span class=\"_ _1\"></span>nclude i<span class=\"_ _1\"></span>nvestments <span class=\"_ _1\"></span>classifi<span class=\"_ _1\"></span>ed as<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsf3\">amortised cost and investments classi<span class=\"_ _1\"></span>fied as fair value<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsf4\">thro<span class=\"ls221\">ugh profit or loss.<span class=\"_ _1\"></span> Loans and receivables classif<span class=\"_ _1\"></span>ied as<span class=\"_ _216\"> </span></span><span class=\"ls221\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsf5\">amortised cost are measured using the ef<span class=\"_ _1\"></span>fective interest<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gsf6\">method,<span class=\"_ _1\"></span> less a<span class=\"_ _1\"></span>ny impai<span class=\"_ _1\"></span>rment. I<span class=\"_ _1\"></span>nterest<span class=\"_ _1\"></span> is r<span class=\"_ _1\"></span>ecognised<span class=\"_ _1\"></span> by<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsf7\">applying the effective i<span class=\"_ _1\"></span>nterest rate. Investments classi<span class=\"_ _1\"></span>fied<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsf8\">as fair value through prof<span class=\"_ _1\"></span>i<span class=\"ls222\">t or loss are initially recorded at<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gsf9\">fair value and are su<span class=\"_ _0\"></span>bsequently externa<span class=\"_ _0\"></span>lly valued on the<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gsfa\">same basis at the balance sheet date. Any surplus or<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsfb\">deficit ari<span class=\"_ _1\"></span>sing on revaluing <span class=\"_ _1\"></span>investments classif<span class=\"_ _1\"></span>ied as fair<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gsfc\">value through profit or <span class=\"_ _1\"></span>loss is recognised in the <span class=\"ls20e\">Ca<span class=\"_ _1\"></span>pital<span class=\"_ _216\"> </span></span><span class=\"ls20e\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsfd\">and other column of the income statement. <span class=\"_ _1\"></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gsfe\">The liabili<span class=\"_ _1\"></span>ty associated with i<span class=\"_ _1\"></span>nvestment property which<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gsff\">is<span class=\"ls1\"> <span class=\"ls221\">held under a lease, is <span class=\"_ _1\"></span>initially calculat<span class=\"_ _1\"></span>ed as the present<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs100\">value of the minimum lease payments.<span class=\"_ _1\"></span> The lease liability<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs101\">is<span class=\"ls1\"> <span class=\"ls224\">subsequently measured at am<span class=\"ls220\">ortised cost,</span></span> <span class=\"ls221\">unwinding<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs102\">as<span class=\"ls1\"> <span class=\"ls231\">finance lease intere<span class=\"_ _0\"></span>st accrues and lease<span class=\"_ _0\"></span> payments<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls231\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs103\">are<span class=\"ls1\"> <span class=\"ls233\">made.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs104\">Debt inst<span class=\"_ _1\"></span>ruments are s<span class=\"_ _1\"></span>tated at t<span class=\"_ _1\"></span>heir fair <span class=\"_ _1\"></span>value on i<span class=\"_ _1\"></span>ssue.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls249 ws1 gs105\">Finance charges i<span class=\"_ _1\"></span>ncluding premia payable <span class=\"_ _1\"></span>on settlement<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs106\">or redemption and di<span class=\"_ _1\"></span>rect issue costs ar<span class=\"_ _1\"></span>e spread over the<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs107\">period to maturi<span class=\"_ _1\"></span>ty, using the ef<span class=\"_ _1\"></span>fective interest <span class=\"_ _1\"></span>method.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24a ws1 gs108\">Exceptional fi<span class=\"_ _1\"></span>nance charges incurr<span class=\"_ _1\"></span>ed due to early<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs109\">redemption (including<span class=\"_ _0\"></span> premia) are recognised in the<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs10a\">income st<span class=\"_ _0\"></span>atement wh<span class=\"_ _0\"></span>en they occ<span class=\"_ _0\"></span>ur. <span class=\"ff3c fc11 ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs10b\">As defined<span class=\"_ _1\"></span> by IFRS 9,<span class=\"_ _1\"></span> cash flo<span class=\"_ _1\"></span>w and fair <span class=\"_ _1\"></span>value hedges <span class=\"_ _1\"></span>are<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs10c\">ini<span class=\"ls222\">tially recognised at fair value at the d<span class=\"_ _0\"></span>ate the derivative<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs10d\">contracts are entered into, and <span class=\"_ _1\"></span>subsequently remeasured<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs10e\">at fair value. Changes i<span class=\"_ _1\"></span>n the fair value of deri<span class=\"_ _1\"></span>vatives that<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs10f\">are designated and qualify as <span class=\"_ _1\"></span>effective cash flow hedges<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs110\">are recognised directly<span class=\"ls1\"> <span class=\"ls222\">through other comprehensive<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls222\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs111\">income as<span class=\"_ _0\"></span> a moveme<span class=\"_ _0\"></span>nt in the hed<span class=\"_ _0\"></span>ging and tra<span class=\"_ _0\"></span>nslation<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs112\">reserve. Changes in the fair va<span class=\"_ _0\"></span>lue of derivatives that are<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs113\">designated and qual<span class=\"_ _1\"></span>ify as effecti<span class=\"_ _1\"></span>ve fair value hedge<span class=\"_ _1\"></span>s are<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs114\">recorded in the Capital and<span class=\"_ _0\"></span> other column of the incom<span class=\"_ _0\"></span>e<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs115\">sta<span class=\"ls222\">tement, along with any<span class=\"_ _0\"></span> changes in the fair value of the<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs116\">hedged item that is at<span class=\"_ _1\"></span>tributable to the hedged ri<span class=\"_ _1\"></span>sk. Any<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs117\">ineffective p<span class=\"_ _0\"></span>ortion of all d<span class=\"_ _0\"></span>erivatives is re<span class=\"_ _0\"></span>cognised in t<span class=\"_ _0\"></span>he<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs118\">Capital an<span class=\"_ _1\"></span>d other column o<span class=\"_ _1\"></span>f the income s<span class=\"_ _1\"></span>tatement.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs119\">Changes in <span class=\"_ _1\"></span>the fair val<span class=\"_ _1\"></span>ue of deri<span class=\"ls223\">vati<span class=\"_ _1\"></span>ves that are not in<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs11a\">a <span class=\"ls234\">designated hedging relat<span class=\"_ _1\"></span>ionship under IFRS 9 <span class=\"_ _1\"></span>are<span class=\"_ _216\"> </span></span><span class=\"ls234\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs11b\">recorded directly in the Cap<span class=\"_ _0\"></span>ital and other column of the<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs11c\">income st<span class=\"_ _0\"></span>atement. Th<span class=\"_ _0\"></span>ese derivativ<span class=\"_ _0\"></span>es are carried<span class=\"_ _0\"></span> at fair<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs11d\">value on the balance sheet.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs11f\">Cash equival<span class=\"_ _1\"></span>ents include<span class=\"_ _1\"></span> short<span class=\"ls1\"> <span class=\"ls222\">term depo<span class=\"ls224\">sits that are </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs120\">instrumen<span class=\"_ _0\"></span>ts with a mat<span class=\"_ _0\"></span>urity of less th<span class=\"_ _0\"></span>an three mo<span class=\"_ _0\"></span>nths, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs121\">and<span class=\"ls1\"> <span class=\"ls222\">tenant deposits.</span></span><span class=\"ls1\"><span class=\"ls222\"> </span></span><span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls21f ws1 gs122\">Revenue<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls232 ws1 gs123\">Revenue comprise<span class=\"_ _1\"></span>s rental in<span class=\"_ _1\"></span>come<span class=\"ls1\">, <span class=\"ls224\">surrender premia, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs124\">service charge income, management and performance<span class=\"_ _0\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs125\">fees and procee<span class=\"_ _0\"></span>ds from the sale of tradin<span class=\"_ _0\"></span>g properties. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls232 ws1 gs126\">Rental inco<span class=\"_ _1\"></span>me and surrender <span class=\"_ _1\"></span>premia are recog<span class=\"_ _1\"></span>nised in </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs127\">accordance with IFRS 16.<span class=\"ls1\"> <span class=\"ls249\">For leas<span class=\"_ _1\"></span>es where a single </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs128\">payment is recei<span class=\"_ _1\"></span>ved to cover both rent <span class=\"_ _1\"></span>and service </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs129\">charge, the service charge component is separat<span class=\"_ _1\"></span>ed out </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs12a\">and reported as service charge i<span class=\"_ _1\"></span>ncome.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls232 ws1 gs12b\">Rental <span class=\"ls1fc\">income, including<span class=\"_ _0\"></span> fixed rental u<span class=\"_ _0\"></span>plifts, from </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs12c\">investmen<span class=\"_ _0\"></span>t property le<span class=\"_ _0\"></span>ased out un<span class=\"_ _0\"></span>der an oper<span class=\"_ _0\"></span>ating lease </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs12d\">is recognis<span class=\"_ _0\"></span>ed as revenu<span class=\"_ _0\"></span>e on a straig<span class=\"_ _0\"></span>ht<span class=\"ls1\">-</span>line basis o<span class=\"_ _0\"></span>ver the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs12e\">lease term<span class=\"_ _0\"></span>. Tenant ince<span class=\"_ _0\"></span>ntives, such a<span class=\"_ _0\"></span>s rent<span class=\"ls1\">-<span class=\"ls231\">free period<span class=\"_ _0\"></span>s </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs12f\">and cash contributions to tenant <span class=\"_ _1\"></span>fit<span class=\"ls1\">-<span class=\"ls220\">ou<span class=\"ls222\">t, are recognised on </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs130\">the same straight<span class=\"ls1\">-<span class=\"ls1fc\">lin<span class=\"_ _0\"></span>e basis being<span class=\"_ _0\"></span> an integral p<span class=\"_ _0\"></span>art of the </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs131\">net consideration for<span class=\"_ _1\"></span> the use of the invest<span class=\"_ _1\"></span>ment property. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs132\">Any rent <span class=\"_ _1\"></span>adjustments b<span class=\"_ _1\"></span>ased on open <span class=\"_ _1\"></span>market esti<span class=\"_ _1\"></span>mated </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs133\">rental values are recognised<span class=\"_ _0\"></span>, based on managem<span class=\"_ _0\"></span>ent </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs134\">estimates, from <span class=\"ls222\">the rent review date in relation to </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs135\">unsettled rent revi<span class=\"_ _1\"></span>ews. Contingent rents, being t<span class=\"_ _1\"></span>hose lease </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs136\">payments that are <span class=\"_ _1\"></span>not fixed at the <span class=\"_ _1\"></span>inception of the l<span class=\"_ _1\"></span>ease, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs137\">including fo<span class=\"_ _0\"></span>r example tu<span class=\"_ _0\"></span>rnover rent<span class=\"_ _0\"></span>s, are recogn<span class=\"_ _0\"></span>ised in the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs138\">period in which <span class=\"_ _1\"></span>they are earned.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24b ws1 gs139\">Lease mo<span class=\"ls234\">difications <span class=\"_ _1\"></span>are defined as a <span class=\"_ _1\"></span>change in the scope </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs13a\">of a lease, <span class=\"_ _1\"></span>or the consideration <span class=\"_ _1\"></span>of a lease, that <span class=\"_ _1\"></span>was not </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs13b\">part of the or<span class=\"_ _1\"></span>iginal terms and con<span class=\"_ _1\"></span>ditions of the l<span class=\"_ _1\"></span>ease. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls230 ws1 gs13c\">Modifica<span class=\"_ _1\"></span>tions to<span class=\"_ _1\"></span> operatin<span class=\"_ _1\"></span>g leases <span class=\"_ _1\"></span>the Group <span class=\"_ _1\"></span>holds as <span class=\"_ _1\"></span>a </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs13d\">lessor are a<span class=\"_ _0\"></span>ccounted fo<span class=\"_ _0\"></span>r from the e<span class=\"_ _0\"></span>ffe<span class=\"ls226\">ctive date of the </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs13e\">modifi<span class=\"_ _1\"></span>cation.<span class=\"_ _1\"></span> Modific<span class=\"_ _1\"></span>ations <span class=\"_ _1\"></span>take i<span class=\"_ _1\"></span>nto acco<span class=\"_ _1\"></span>unt any <span class=\"_ _1\"></span>prepaid </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs13f\">or accrued lease <span class=\"_ _1\"></span>payments relating to t<span class=\"_ _1\"></span>he original lease<span class=\"_ _1\"></span> as </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs140\">part of the l<span class=\"_ _1\"></span>ease payments for the <span class=\"_ _1\"></span>new lease. The revi<span class=\"_ _1\"></span>sed </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs141\">remaining consideratio<span class=\"_ _0\"></span>n under the modified lease is the<span class=\"_ _0\"></span>n </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs142\">recog<span class=\"ls221\">nised in rental income on a <span class=\"_ _1\"></span>straight<span class=\"ls1\">-<span class=\"ls1fc\">line basis ov<span class=\"_ _0\"></span>er </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs143\">the remaining lease term<span class=\"_ _0\"></span>.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs144\">Concessions <span class=\"_ _1\"></span>granted to tena<span class=\"_ _1\"></span>nts for operat<span class=\"_ _1\"></span>ing lease </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs145\">receivables where prior de<span class=\"_ _0\"></span>manded lease paym<span class=\"_ _0\"></span>ents have </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs146\">been reduced or waiv<span class=\"_ _1\"></span>ed for a specifie<span class=\"_ _1\"></span>d period are </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs147\">accounted for as an exp<span class=\"ls223\">ected credit <span class=\"_ _1\"></span>loss. Concessions </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs148\">granted to tenant<span class=\"_ _1\"></span>s for future le<span class=\"_ _1\"></span>ase payments are </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs149\">accounted for as a lease modifi<span class=\"_ _1\"></span>cation. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20c ws1 gs14a\">Surrender premia for<span class=\"_ _1\"></span> the early terminat<span class=\"_ _1\"></span>ion of a lease are<span class=\"_ _1\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs14b\">recognised as revenu<span class=\"_ _0\"></span>e when the amounts<span class=\"_ _0\"></span> become </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs14c\">contractually due, net of di<span class=\"_ _1\"></span>lapi<span class=\"ls234\">dations and non<span class=\"ls1\">-<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs14d\">recoverable outgoing<span class=\"_ _0\"></span>s relating to the lease concerned<span class=\"_ _0\"></span>.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs14e\">The Group applies t<span class=\"_ _1\"></span>he five<span class=\"ls1\">-<span class=\"ls224\">step</span>-<span class=\"ls233\">model as <span class=\"_ _1\"></span>require<span class=\"_ _1\"></span>d by IF<span class=\"_ _1\"></span>RS </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22f ws1 gs14f\">15 \u2018Revenue from<span class=\"_ _0\"></span> Contracts with C<span class=\"_ _0\"></span>ustomers\u2019 in recog<span class=\"_ _0\"></span>nising </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs150\">its service c<span class=\"_ _0\"></span>harge incom<span class=\"_ _0\"></span>e, manage<span class=\"_ _0\"></span>ment and p<span class=\"_ _0\"></span>erformanc<span class=\"_ _0\"></span>e </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs151\">fees and procee<span class=\"_ _0\"></span>ds from the sale of tradin<span class=\"_ _0\"></span>g properties. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20c ws1 gs152\">Service charge i<span class=\"_ _1\"></span>ncome is recogn<span class=\"ls1fc\">ised as reven<span class=\"_ _0\"></span>ue in the </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs153\">period to which <span class=\"_ _1\"></span>it relates.<span class=\"_ _216\"> </span> <span class=\"ls1\"> </span></div>Management <span class=\"_ _1\"></span>fees are <span class=\"_ _1\"></span>recognised<span class=\"_ _1\"></span> as reven<span class=\"_ _1\"></span>ue in th<span class=\"_ _1\"></span>e period<span class=\"_ _216\"> </span> to which they relate and inc<span class=\"_ _0\"></span>lude the provision of asset<span class=\"_ _216\"> </span> ma<span class=\"ls221\">nagement, property management, development<span class=\"_ _216\"> </span></span><span class=\"ls221\"> </span>management<span class=\"_ _1\"></span> and admi<span class=\"_ _1\"></span>nistra<span class=\"_ _1\"></span>tion se<span class=\"_ _1\"></span>rvices <span class=\"_ _1\"></span>to joi<span class=\"_ _1\"></span>nt vent<span class=\"_ _1\"></span>ures.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Performance fees ar<span class=\"_ _1\"></span>e recognised at the <span class=\"_ _1\"></span>end of the<span class=\"_ _216\"> </span> performance period when<span class=\"_ _1\"></span> the performance obliga<span class=\"_ _1\"></span>tions are<span class=\"_ _216\"> </span> met, t<span class=\"_ _1\"></span>he fee <span class=\"_ _1\"></span>amount ca<span class=\"_ _1\"></span>n be est<span class=\"_ _1\"></span>imated <span class=\"_ _1\"></span>reliabl<span class=\"_ _1\"></span>y and<span class=\"ls1\"> <span class=\"ls1fc\">it is<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1fc\"> </span></span>highly probable that t<span class=\"_ _1\"></span>he fee will be received.<span class=\"_ _1\"></span> Performance<span class=\"_ _216\"> </span> fees are based o<span class=\"_ _0\"></span>n property valuations<span class=\"_ _0\"></span> compared to<span class=\"_ _216\"> </span> external benchmarks at the end of<span class=\"_ _1\"></span> the reporting period. <span class=\"ls1\"> </span>Proceeds from the s<span class=\"_ _1\"></span>ale of trading pr<span class=\"_ _1\"></span>operties are recognis<span class=\"_ _1\"></span>ed<span class=\"_ _216\"> </span> when cont<span class=\"_ _1\"></span>rol has b<span class=\"_ _1\"></span>een t<span class=\"ls211\">ransferred to the purchaser. This<span class=\"_ _216\"> </span></span><span class=\"ls211\"> </span>generally occurs<span class=\"_ _1\"></span> on completion. Proceeds <span class=\"_ _1\"></span>from the sale of<span class=\"_ _216\"> </span> trading properties are recog<span class=\"_ _0\"></span>nised as revenue in the Cap<span class=\"_ _0\"></span>ital<span class=\"_ _216\"> </span> and other column of the income statement. <span class=\"_ _1\"></span><span class=\"ls1\"> </span>All other<span class=\"_ _1\"></span> revenue des<span class=\"_ _1\"></span>cribed above <span class=\"_ _1\"></span>is recogni<span class=\"_ _1\"></span>sed in the<span class=\"_ _216\"> </span><span class=\"_ _1\"></span> Underl<span class=\"ls223\">ying column of <span class=\"_ _1\"></span>the income statement, except where<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span>revenue items are dee<span class=\"_ _0\"></span>med to be unusual or sign<span class=\"_ _0\"></span>ificant by<span class=\"_ _216\"> </span> virtue of their <span class=\"_ _1\"></span>size or nature, where they are <span class=\"_ _1\"></span>recognised<span class=\"_ _216\"> </span> through the Capital and<span class=\"_ _0\"></span> other column. <span class=\"ls1\"> </span>Taxation<span class=\"ls1\"> </span>Current tax<span class=\"_ _1\"></span> is based on <span class=\"_ _1\"></span>taxable profi<span class=\"_ _1\"></span>t for <span class=\"ls222\">the year and </span>is<span class=\"ls1\"> <span class=\"ls226\">calculated using tax rates that have <span class=\"_ _1\"></span>been enacted or </span></span>substantively enacted at the balance sheet date. Taxable profit diff<span class=\"_ _1\"></span>ers from profit bef<span class=\"_ _1\"></span>ore taxation<span class=\"ls1\"> <span class=\"ls225\">as reported in t<span class=\"_ _1\"></span>he </span></span>income st<span class=\"_ _0\"></span>atement be<span class=\"_ _0\"></span>cause it exclu<span class=\"_ _0\"></span>des items o<span class=\"_ _0\"></span>f income or expense that<span class=\"ls1\"> <span class=\"ls225\">are not taxable (or tax <span class=\"_ _1\"></span>deductible).<span class=\"ls1\"> </span></span></span>Deferred t<span class=\"_ _1\"></span>ax is provi<span class=\"_ _1\"></span>ded on items <span class=\"_ _1\"></span>that may beco<span class=\"_ _1\"></span>me taxable in the future, or which<span class=\"_ _0\"></span> may be used to offset against taxable profits <span class=\"_ _1\"></span>in the future, on the temporary differences bet<span class=\"_ _1\"></span>ween the carrying amounts <span class=\"_ _1\"></span>of assets and lia<span class=\"ls234\">bilities f<span class=\"_ _1\"></span>or financial repor<span class=\"_ _1\"></span>ting purposes, and <span class=\"_ _1\"></span>the amounts </span>used for taxation pur<span class=\"_ _1\"></span>poses on an undiscounted basis. On<span class=\"ls1\"> <span class=\"ls234\">business combinati<span class=\"_ _1\"></span>ons, the deferred t<span class=\"_ _1\"></span>ax effect of fai<span class=\"_ _1\"></span>r </span></span>value adjustments is i<span class=\"_ _1\"></span>ncorporated in the consolidated balance sheet.<span class=\"ls1\"> </span>Deferred t<span class=\"_ _1\"></span>ax asse<span class=\"ls222\">ts and liabilities are netted off against </span>each other in the consoli<span class=\"_ _1\"></span>dated balance sheet when they relate to income taxes levied<span class=\"_ _0\"></span> by the same tax authority on<span class=\"ls1\"> <span class=\"ls234\">different taxabl<span class=\"_ _1\"></span>e entities which <span class=\"_ _1\"></span>intend to <span class=\"ls224\">settle<span class=\"ls1\"> <span class=\"ls226\">current </span></span></span></span></span>tax assets and liabilities on a net basis.<span class=\"_ _216\"> </span>Employee costs<span class=\"ls1\"> </span>The fair value <span class=\"_ _1\"></span>of equity<span class=\"ls1\">-<span class=\"ls24d\">settled share</span>-<span class=\"ls22c\">based <span class=\"_ _1\"></span>payments </span></span>to<span class=\"ls1\"> <span class=\"ls23b\">employees is determined at t<span class=\"_ _1\"></span>he date of grant and is </span></span>expensed on a straight<span class=\"ls1\">-<span class=\"ls229\">line basis over the ve<span class=\"_ _0\"></span>sting period, </span></span>based on the Group\u2019<span class=\"_ _1\"></span>s estimate of shares<span class=\"_ _1\"></span> or options that wi<span class=\"_ _1\"></span>ll eventually <span class=\"lsf2\">vest. For al<span class=\"_ _1\"></span>l schemes except the Group\u2019s Long<span class=\"ls1\"> </span></span>Term Incentive Pla<span class=\"_ _1\"></span>n and Save As You Earn schemes, <span class=\"_ _1\"></span>the fair value of awards are<span class=\"ls1\"> <span class=\"ls23b\">equal <span class=\"_ _1\"></span>to the market value at grant date.<span class=\"_ _1\"></span> </span></span>For options and per<span class=\"_ _1\"></span>formance shares granted <span class=\"_ _1\"></span>under the Long<span class=\"ls1\"> <span class=\"ls20f\">Term Incentive <span class=\"_ _1\"></span>Plan, the fair <span class=\"_ _1\"></span>values are determined</span></span><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22c ws1 gs170\">by<span class=\"ls1\"> <span class=\"ls213\">Monte <span class=\"_ _1\"></span>Carlo and <span class=\"_ _1\"></span>Black<span class=\"ls1\">-<span class=\"ls228\">Scholes <span class=\"_ _1\"></span>models. A Black<span class=\"ls1\">-</span>Scholes </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24f ws1 gs171\">model i<span class=\"_ _1\"></span>s used <span class=\"_ _1\"></span>fo<span class=\"ls211\">r the Save As You Earn sc<span class=\"_ _0\"></span>hemes.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls250 ws1 gs172\">Defined bene<span class=\"_ _1\"></span>fit pension<span class=\"_ _1\"></span> scheme assets<span class=\"_ _1\"></span> are measured <span class=\"_ _1\"></span>using </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls251 ws1 gs173\">fair values. Pension sc<span class=\"_ _0\"></span>heme liabilities are mea<span class=\"_ _0\"></span>sured using the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls252 ws1 gs174\">projected unit <span class=\"_ _1\"></span>credit method and discou<span class=\"_ _1\"></span>nted at the rate of<span class=\"_ _1\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls253 ws1 gs175\">return of a high quality corpo<span class=\"_ _0\"></span>rate bond of equivalent term<span class=\"_ _0\"></span> to </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls253 ws1 gs176\">the scheme lia<span class=\"ls252\">bilities. The net <span class=\"_ _1\"></span>surplus (where recover<span class=\"_ _1\"></span>able by </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls253 ws1 gs177\">the Group) or deficit is recogn<span class=\"_ _0\"></span>ised in full in the consolidated </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls252 ws1 gs178\">balance sheet. <span class=\"_ _1\"></span>Any asset resulting <span class=\"_ _1\"></span>from the calculati<span class=\"_ _1\"></span>on is </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls254 ws1 gs179\">limited to th<span class=\"_ _0\"></span>e present va<span class=\"_ _0\"></span>lue of availab<span class=\"_ _0\"></span>le refunds an<span class=\"_ _0\"></span>d </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls253 ws1 gs17a\">reductions in future contrib<span class=\"_ _0\"></span>uti<span class=\"ls255\">ons to the pl<span class=\"_ _1\"></span>an. The current </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls256 ws1 gs17b\">service cost and gains and losses on settlement and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls257 ws1 gs17c\">curtailments are <span class=\"ls253\">recogni<span class=\"ls1\">s<span class=\"ls258\">ed i<span class=\"_ _1\"></span>n the Underlying column of the </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls254 ws1 gs17d\">income st<span class=\"_ _0\"></span>atement<span class=\"ls1\">. <span class=\"ls259\">Actua<span class=\"_ _1\"></span>rial gains<span class=\"_ _1\"></span> and losses <span class=\"_ _1\"></span>are recogni<span class=\"_ _1\"></span>sed </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls254 ws1 gs17e\">in full in the pe<span class=\"_ _0\"></span>riod in which<span class=\"_ _0\"></span> they occur a<span class=\"_ _0\"></span>nd are pres<span class=\"_ _0\"></span>e<span class=\"ls25a\">nted in </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls253 ws1 gs17f\">the consolidated statem<span class=\"_ _0\"></span>ent of comprehensive<span class=\"_ _0\"></span> income. <span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls25b ws1 gs180\">Critical a<span class=\"_ _0\"></span>ccounting judgements<span class=\"_ _0\"></span> and key sources<span class=\"_ _0\"></span> </div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs181\">of estimation uncertai<span class=\"_ _0\"></span>nty<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs182\">In applying th<span class=\"_ _0\"></span>e Group\u2019s acco<span class=\"_ _0\"></span>unting policie<span class=\"_ _0\"></span>s, the Directors </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs183\">are required to make critical<span class=\"_ _1\"></span> accounting judgements and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs184\">assess <span class=\"ls226\">key sources of estimation uncert<span class=\"_ _1\"></span>ainty that affect </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs185\">the financial statements. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff3c fsb8 fc4 sc0 ls25c ws1 gs186\">Key sources of<span class=\"_ _1\"></span> estimation unc<span class=\"_ _1\"></span>ertainty<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls25d ws1 gs187\">Valuation <span class=\"_ _1\"></span>of investment<span class=\"ls1\"> <span class=\"ls225\">and</span> <span class=\"ls234\">development</span> <span class=\"ls234\">properti<span class=\"_ _1\"></span>es <span class=\"ls225\">and </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs188\">the <span class=\"ls221\">net reali<span class=\"ls1\">s<span class=\"ls225\">able value <span class=\"ls220\">of </span></span></span></span>trading properties: The Group </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs189\">uses external professi<span class=\"_ _1\"></span>onal v<span class=\"ls225\">aluers to determine the </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs18a\">relevant amounts. Th<span class=\"_ _0\"></span>e primary source of evidenc<span class=\"_ _0\"></span>e for </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs18b\">property valuati<span class=\"_ _1\"></span>ons should be recent,<span class=\"_ _1\"></span> comparable market </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs18c\">transactions on an arm<span class=\"_ _0\"></span>\u2019s length basis. However, the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs18d\">valuation of the Group\u2019s <span class=\"_ _1\"></span>property portfolio is inherent<span class=\"_ _1\"></span>ly </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs18e\">subjective, as it is based upon valuer assumptions and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs18f\">estimations that form part <span class=\"_ _1\"></span>of the key unobservable inputs </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs190\">of the valuati<span class=\"_ _1\"></span>on, which may prove to be <span class=\"_ _1\"></span>inaccurate. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls249 ws1 gs191\">Further detail<span class=\"_ _1\"></span>s on the valuers\u2019<span class=\"_ _1\"></span> assumptions, estimates<span class=\"_ _1\"></span> and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs192\">associated key unobservable inputs and <span class=\"ls224\">sensi<span class=\"_ _1\"></span>t<span class=\"ls1fc\">ivity </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs193\">disclosures, <span class=\"_ _1\"></span>have been provided in <span class=\"_ _1\"></span>Note 10.<span class=\"ls1\"> <span class=\"ls1ec\">Additional<span class=\"_ _1\"></span>ly, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs194\">the Group\u2019s <span class=\"ls1\">i<span class=\"ls221\">nvestment in joint ventures</span> <span class=\"ls226\">can be</span> <span class=\"ls233\">mater<span class=\"_ _1\"></span>ially </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs195\">impacted<span class=\"_ _0\"></span> by the<span class=\"ls1\"> </span>joint<span class=\"_ _0\"></span> venture pro<span class=\"_ _0\"></span>perty portfo<span class=\"_ _0\"></span>lio<span class=\"ls235\">, <span class=\"ls225\">and as </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs196\">such sensitivity disclosures o<span class=\"ls1\">f <span class=\"ls222\">the joint venture property<span class=\"_ _0\"></span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs197\">portfolio have <span class=\"_ _1\"></span>been provided in Note 1<span class=\"_ _1\"></span>0.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls248 ws1 gs198\">Other sou<span class=\"_ _1\"></span>rces of e<span class=\"_ _1\"></span>stimation <span class=\"_ _1\"></span>uncertaint<span class=\"_ _1\"></span>y that wo<span class=\"_ _1\"></span>uld not </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs199\">result in a material movem<span class=\"_ _0\"></span>ent in the carrying amoun<span class=\"_ _0\"></span>t in </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs19a\">the next financial year include th<span class=\"_ _0\"></span>e valuation of interest rate </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs19b\">derivatives, <span class=\"_ _1\"></span><span class=\"ls222\">the determinatio<span class=\"_ _0\"></span>n of share<span class=\"ls1\">-<span class=\"ls234\">based payments, </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs19c\">the actuarial assumption<span class=\"_ _0\"></span>s used in calculating the Group<span class=\"_ _0\"></span>\u2019s </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs19d\">retirement benefit obligation<span class=\"_ _0\"></span>s, the fair value of pension </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs19e\">scheme assets and taxation provisions.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff3c fsb8 fc4 sc0 ls20e ws1 gs19f\">Critical <span class=\"_ _1\"></span>accounting judgement<span class=\"_ _1\"></span>s <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs1a0\">The Directors do not<span class=\"_ _1\"></span> consi<span class=\"ls22c\">der there to <span class=\"_ _1\"></span>be any critical </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 lsf2 ws1 gs1a1\">accounting judgements in<span class=\"ls1\"> <span class=\"ls211\">the preparation of the Group\u2019s </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23c ws1 gs1a2\">financial stateme<span class=\"_ _0\"></span>nts. The following item<span class=\"_ _0\"></span>s are ongoing area<span class=\"_ _0\"></span>s </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs1a3\">of accounting judgement,<span class=\"_ _1\"></span> however, the Director<span class=\"_ _1\"></span>s do not </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23d ws1 gs1a4\">consider these<span class=\"ls1\"> <span class=\"lsf2\">accounting judgements t<span class=\"_ _1\"></span>o be critical and </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24f ws1 gs1a5\">materi<span class=\"_ _1\"></span>al accou<span class=\"_ _1\"></span>nting j<span class=\"_ _1\"></span>udgement <span class=\"_ _1\"></span>has not <span class=\"_ _1\"></span>been re<span class=\"_ _1\"></span>quired f<span class=\"_ _1\"></span>or </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 lsf2 ws1 gs1a6\">any of these items in the <span class=\"_ _1\"></span>current financial year.<span class=\"_ _216\"> </span></div>REIT status:<span class=\"_ _1\"></span> British L<span class=\"_ _1\"></span>and is a Real<span class=\"_ _1\"></span> Estate Invest<span class=\"_ _1\"></span>ment<span class=\"_ _216\"> </span>Trust<span class=\"ls1\"> <span class=\"ls25f\">(REIT) and does not pay tax on its <span class=\"ls211\">tax adjusted<span class=\"_ _216\"> </span></span></span></span>property income or<span class=\"ls1\"> <span class=\"_ _1\"></span><span class=\"ls22c\">gains on <span class=\"ls229\">investment </span>property sales,<span class=\"_ _216\"> </span></span></span>provided that at<span class=\"_ _1\"></span> least 90% of the Gr<span class=\"_ _1\"></span>oup\u2019s <span class=\"ls211\">tax adjusted<span class=\"_ _216\"> </span></span>property income is<span class=\"_ _1\"></span> distributed as a<span class=\"_ _1\"></span> dividend to<span class=\"_ _216\"> </span>shareholders, which becomes taxable in their hands<span class=\"ls22a\">. In<span class=\"_ _216\"> </span></span>addition, the Group has to meet cer<span class=\"_ _1\"></span>tain conditions such as<span class=\"_ _216\"> </span>ensuring the property rental<span class=\"_ _1\"></span> business represents more than<span class=\"_ _216\"> </span>75% of total profits <span class=\"_ _1\"></span>and assets. Any potential or pr<span class=\"_ _1\"></span>oposed<span class=\"_ _216\"> </span>changes to the REIT legislation <span class=\"_ _1\"></span>are monitored and<span class=\"_ _216\"> </span>discussed with HMRC. <span class=\"_ _1\"></span>It <span class=\"ls229\">is managem<span class=\"_ _0\"></span>ent\u2019s intentio<span class=\"_ _0\"></span>n that the<span class=\"_ _216\"> </span></span>Group will<span class=\"_ _1\"></span> continue a<span class=\"_ _1\"></span>s a REIT fo<span class=\"_ _1\"></span>r the fore<span class=\"_ _1\"></span>seeable futur<span class=\"_ _1\"></span>e.<span class=\"_ _216\"> </span>Accounting <span class=\"_ _1\"></span>for joint<span class=\"_ _1\"></span> ventures: <span class=\"_ _1\"></span>In accordanc<span class=\"_ _1\"></span>e with IFRS <span class=\"_ _1\"></span>10<span class=\"_ _216\"> </span>\u2018Consolida<span class=\"_ _0\"></span>ted Financia<span class=\"_ _0\"></span>l Statemen<span class=\"_ _0\"></span>ts\u2019, IFRS 11 \u2018Jo<span class=\"_ _0\"></span>int<span class=\"_ _216\"> </span>Arrangements\u2019<span class=\"_ _1\"></span> and IFRS 1<span class=\"_ _1\"></span>2 \u2018Disclos<span class=\"_ _1\"></span>ure of Int<span class=\"_ _1\"></span>erests in<span class=\"ls1\"> <span class=\"_ _d\"></span><span class=\"ls261\">Other<span class=\"_ _216\"> </span></span></span>Entities\u2019,<span class=\"_ _1\"></span> an assessment is <span class=\"_ _1\"></span>required to determine<span class=\"_ _1\"></span> the degree<span class=\"_ _216\"> </span>of control or <span class=\"_ _1\"></span>influence the Group exerc<span class=\"_ _1\"></span>ises and the form of<span class=\"_ _216\"> </span>any control to ensure that t<span class=\"_ _1\"></span>he financial statement treatment<span class=\"_ _216\"> </span>is appropr<span class=\"_ _0\"></span>iate. The asse<span class=\"_ _0\"></span>ssment und<span class=\"_ _0\"></span>ertaken by<span class=\"_ _0\"></span> managem<span class=\"_ _0\"></span>ent<span class=\"_ _216\"> </span>includes co<span class=\"_ _0\"></span><span class=\"ls25a\">nsideration of t<span class=\"_ _1\"></span>he structure, legal f<span class=\"_ _1\"></span>orm,<span class=\"_ _216\"> </span></span>contractual terms and other facts and ci<span class=\"_ _1\"></span>rcumstances relating<span class=\"_ _216\"> </span>to the relevant entity. This assessm<span class=\"_ _0\"></span>ent is updated annually<span class=\"_ _216\"> </span>and there have been no changes in the <span class=\"_ _1\"></span>judgement reached in<span class=\"_ _216\"> </span>relation to the degree of con<span class=\"_ _0\"></span>trol the Group exercises within<span class=\"_ _216\"> </span>the current or prior year. An a<span class=\"_ _0\"></span>ssessment was perform<span class=\"_ _0\"></span>ed for<span class=\"_ _216\"> </span>the<span class=\"ls1\"> <span class=\"ls264\">2 Finsbury Avenue <span class=\"ls254\">joint venture</span></span> </span>transaction <span class=\"ls265\">within <span class=\"_ _1\"></span>the<span class=\"_ _216\"> </span></span>Broadgate joi<span class=\"_ _1\"></span>nt venture <span class=\"ls253\">that occurred in the <span class=\"ls252\">prior <span class=\"ls258\">year<span class=\"ls1\"> <span class=\"_ _1\"></span><span class=\"ls267\">(see<span class=\"_ _216\"> </span></span></span></span></span></span>Note 11)<span class=\"ls260\">. </span>As<span class=\"_ _1\"></span> previously <span class=\"_ _1\"></span>disclosed,<span class=\"_ _1\"></span> n<span class=\"ls1\">o <span class=\"_ _1\"></span>c<span class=\"ls253\">ritical accounting<span class=\"_ _216\"> </span></span></span>judgeme<span class=\"_ _0\"></span>nt was identif<span class=\"_ _0\"></span>ied<span class=\"ls1\"> </span>in the assessme<span class=\"_ _0\"></span>nt.<span class=\"_ _216\"> </span>Joint ventures are accounted for under the <span class=\"_ _1\"></span>equity method,<span class=\"_ _216\"> </span>whereby t<span class=\"_ _1\"></span>he consoli<span class=\"_ _1\"></span>dated balan<span class=\"_ _1\"></span>ce sheet <span class=\"_ _1\"></span>incorporate<span class=\"_ _1\"></span>s the<span class=\"_ _216\"> </span>Group\u2019s sh<span class=\"_ _1\"></span>are of the <span class=\"_ _1\"></span>net assets <span class=\"_ _1\"></span>of its j<span class=\"_ _1\"></span>oint ventur<span class=\"_ _1\"></span>es. The<span class=\"_ _216\"> </span>consolidated income statement incorporates the Group\u2019s<span class=\"_ _216\"> </span>share of joint venture<span class=\"ls1\">s <span class=\"ls234\">profits after <span class=\"_ _1\"></span>tax.<span class=\"ls1\"> <span class=\"ls220\">The Group\u2019s share<span class=\"_ _216\"> </span></span></span></span></span>of joint ventur<span class=\"_ _1\"></span>es results and net <span class=\"_ _1\"></span>assets are disclos<span class=\"_ _1\"></span>ed in<span class=\"_ _216\"> </span>Note 11 <span class=\"_ _1\"></span>to the fi<span class=\"_ _1\"></span>nancial st<span class=\"_ _1\"></span>atements.<span class=\"_ _216\"> </span>Accounting <span class=\"_ _1\"></span>for trans<span class=\"_ _1\"></span>actions: Pr<span class=\"_ _1\"></span>operty tra<span class=\"_ _1\"></span>nsac<span class=\"ls222\">tions are<span class=\"_ _216\"> </span></span>complex in nature and can be material to <span class=\"_ _1\"></span>the financial<span class=\"_ _216\"> </span>statements. Judgements made in relation to transactions<span class=\"_ _216\"> </span>include wh<span class=\"_ _0\"></span>ether an acq<span class=\"_ _0\"></span>uisition is a bu<span class=\"_ _0\"></span>siness com<span class=\"_ _0\"></span>bination<span class=\"_ _216\"> </span>or an asset; <span class=\"_ _1\"></span>whether held<span class=\"ls1\"> <span class=\"ls231\">for</span> <span class=\"ls224\">sale criteria have been met<span class=\"_ _216\"> </span></span></span>for transactions not<span class=\"ls1\"> <span class=\"_ _0\"></span><span class=\"ls223\">yet completed; accounting for<span class=\"_ _216\"> </span></span></span>transaction costs and co<span class=\"_ _0\"></span>ntingent consideration; and<span class=\"_ _216\"> </span>application of the concept of <span class=\"_ _1\"></span>linked accounting.<span class=\"_ _216\"> </span>Management <span class=\"_ _1\"></span>consider<span class=\"ls1\">s <span class=\"ls223\">each transacti<span class=\"_ _1\"></span>on separately in<span class=\"_ _216\"> </span></span></span>order to determine <span class=\"_ _1\"></span>the most appropriate account<span class=\"_ _1\"></span>ing<span class=\"_ _216\"> </span>treatment, and, when<span class=\"_ _0\"></span> <span class=\"ls226\">considered necessary, seek<span class=\"ls1\">s<span class=\"_ _216\"> </span></span></span>independ<span class=\"_ _0\"></span>ent advice. <span class=\"ls1\">M<span class=\"_ _0\"></span><span class=\"ls225\">anagement considered the<span class=\"_ _216\"> </span></span></span>accounting of the <span class=\"ls230\">Meadowh<span class=\"_ _1\"></span>all Shoppi<span class=\"_ _1\"></span>ng Centre <span class=\"_ _1\"></span>joint<span class=\"_ _216\"> </span></span>venture disposal <span class=\"ls225\">and the <span class=\"ls268\">2 Fi<span class=\"_ _1\"></span>nsbury Avenue joint venture<span class=\"_ _216\"> </span></span></span>transaction within the Bro<span class=\"_ _0\"></span>adgate joint venture<span class=\"ls235\">, both<span class=\"_ _0\"></span> <span class=\"ls220\">of<span class=\"_ _216\"> </span></span></span>which occ<span class=\"_ _1\"></span>u<span class=\"ls1\">r<span class=\"ls222\">red</span> <span class=\"ls1fc\">in <span class=\"ls222\">the <span class=\"ls234\">prior</span></span></span> <span class=\"ls223\">year</span> <span class=\"ls243\">(see No<span class=\"_ _0\"></span>te 11).</span></span><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls25b ws1 gs1dd\">Consideration <span class=\"_ _0\"></span>of climate chan<span class=\"_ _0\"></span>ge <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls227 ws1 gs1de\">In preparing<span class=\"_ _0\"></span> the financial st<span class=\"_ _0\"></span>atements, the<span class=\"_ _0\"></span> impact of clim<span class=\"_ _0\"></span>ate </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23d ws1 gs1df\">change has been considered, particularl<span class=\"_ _1\"></span>y in the context of </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs1e0\">the Task Force on Clim<span class=\"_ _0\"></span>ate<span class=\"ls1\">-</span>related Financial Disclosures </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls25f ws1 gs1e1\">(TCFD) included<span class=\"ls1\"> <span class=\"ls212\">within the<span class=\"_ _1\"></span> Sustainab<span class=\"_ _1\"></span>ility s<span class=\"_ _1\"></span>ection of<span class=\"_ _1\"></span> the </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls228 ws1 gs1e2\">Strategic Report.<span class=\"_ _1\"></span> Whilst noting the Gr<span class=\"_ _1\"></span>oup\u2019s commitment to </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24d ws1 gs1e3\">sustainability, there has not been a material impact on the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23c ws1 gs1e4\">financial reporting<span class=\"_ _0\"></span> judgements and<span class=\"_ _0\"></span> estimates arising from<span class=\"_ _0\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs1e5\">our considerations<span class=\"_ _1\"></span>, which include phys<span class=\"ls229\">ical climate and </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs1e6\">transitional risk assessments co<span class=\"_ _0\"></span>nducted by the Grou<span class=\"_ _0\"></span>p. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs1e7\">This<span class=\"ls1\"> <span class=\"ls229\">is consistent with<span class=\"_ _0\"></span> our assessm<span class=\"_ _0\"></span>ent that clim<span class=\"_ _0\"></span>ate change<span class=\"_ _0\"></span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls229 ws1 gs1e8\">is not expe<span class=\"_ _0\"></span>cted to have<span class=\"_ _0\"></span> a<span class=\"ls1\"> <span class=\"ls24f\">mater<span class=\"_ _1\"></span>ial impa<span class=\"_ _1\"></span>ct on t<span class=\"_ _1\"></span>he cash<span class=\"_ _1\"></span> flows </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs1e9\">of the Group, i<span class=\"_ _1\"></span>ncluding those included <span class=\"_ _1\"></span>within the going </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23d ws1 gs1ea\">concern and viability assessments i<span class=\"_ _1\"></span>n the medium term. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls156 ws1 gs1eb\">Notwithsta<span class=\"_ _1\"></span>nding this,<span class=\"_ _1\"></span> the foll<span class=\"_ _1\"></span>owing should<span class=\"_ _1\"></span> be noted, <span class=\"_ _1\"></span>which </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls229 ws1 gs1ec\">is relevant to<span class=\"_ _0\"></span> understan<span class=\"_ _0\"></span>ding the imp<span class=\"_ _0\"></span>act of climat<span class=\"_ _0\"></span>e change </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs1ed\">on the financial<span class=\"_ _1\"></span> statements:<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs1ee\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls1ec\">As part of <span class=\"_ _1\"></span>the Group\u2019s <span class=\"_ _1\"></span>2030 Sustain<span class=\"_ _1\"></span>ability St<span class=\"_ _1\"></span>rategy, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs1ef\">the<span class=\"ls1\"> <span class=\"ls20d\">Group\u2019s Trans<span class=\"_ _1\"></span>ition Vehic<span class=\"_ _1\"></span>le applies <span class=\"_ _1\"></span>an internal<span class=\"_ _1\"></span> levy </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs1f0\">of \u00a390 <span class=\"ls234\">per tonne t<span class=\"_ _1\"></span>o the embodied carbon with<span class=\"_ _1\"></span>in </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs1f1\">developments. Two<span class=\"ls1\">-<span class=\"ls222\">thirds of the internal levy is </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs1f2\">available to finance car<span class=\"_ _1\"></span>bon efficient interventions </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs1f3\">which i<span class=\"_ _1\"></span>mprove energy<span class=\"_ _1\"></span> efficie<span class=\"_ _1\"></span>ncy and re<span class=\"_ _1\"></span>duce carbon </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs1f4\">emiss<span class=\"ls1fc\">ions from o<span class=\"_ _0\"></span>ur standing p<span class=\"_ _0\"></span>ortfolio. The<span class=\"_ _0\"></span> remaining </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs1f5\">third is used to purchase ca<span class=\"_ _0\"></span>rbon credits to mitigate </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs1f6\">the residual embodied<span class=\"_ _0\"></span> carbon in our developm<span class=\"_ _0\"></span>ents. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs1f7\">The Group committed \u00a32m<span class=\"ls1\"> <span class=\"ls222\">to carbon efficient </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs1f8\">interventio<span class=\"_ _0\"></span>ns in the year<span class=\"_ _0\"></span> to 31<span class=\"ls1\"> <span class=\"ls230\">March 202</span>6 <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs1f9\">\u00a31<span class=\"ls233\">m). Th<span class=\"ls223\">e Group spent <span class=\"ls220\">\u00a31<span class=\"_ _1\"></span>m<span class=\"ls1\"> <span class=\"ls243\">(202</span>4<span class=\"_ _0\"></span><span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>3<span class=\"ls233\">m) in the<span class=\"_ _1\"></span> </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs1fa\">year to 31 March 202<span class=\"ls1\">6 <span class=\"ls220\">on carbon effi<span class=\"_ _1\"></span>cient </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs1fb\">interventio<span class=\"_ _0\"></span>ns, of which <span class=\"ls220\">\u00a31m (2024/25: \u00a32m)<span class=\"ls1\"> </span></span>is </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs1fc\">recoverable through<span class=\"_ _0\"></span> the<span class=\"ls1\"> <span class=\"ls224\">service charge.</span> </span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs1fd\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls20f\">The Group has purchased and reti<span class=\"_ _1\"></span>red carbon credits </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls229 ws1 gs1fe\">in<span class=\"ls1\"> <span class=\"ls211\">the year to offset the residual em<span class=\"ls22c\">bodied carbon </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls229 ws1 gs1ff\">in<span class=\"ls1\"> <span class=\"ls22c\">developments. Thi<span class=\"_ _1\"></span>s is the embodied carbon<span class=\"_ _1\"></span> that </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs200\">remains once we h<span class=\"_ _0\"></span>ave done everything eco<span class=\"_ _0\"></span>nomically </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 lsf2 ws1 gs201\">and practically viable <span class=\"_ _1\"></span>to reduce embodied carbon </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs202\">through material reuse<span class=\"_ _0\"></span>, design efficiency and materials </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24d ws1 gs203\">specification. The cost of purchasing<span class=\"ls1\"> <span class=\"ls211\">these credits was </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23d ws1 gs204\">capitalised as part of <span class=\"_ _1\"></span>the cost of the development. The </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23d ws1 gs205\">cost of purchasing these credits <span class=\"_ _1\"></span>was \u00a31m for the year </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23b ws1 gs206\">ended 31 March 2026 (2024/25:<span class=\"ls1\"> <span class=\"ls228\">\u00a31m).</span> </span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs207\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls1ec\">As part of <span class=\"_ _1\"></span>the valuati<span class=\"_ _1\"></span>on process,<span class=\"_ _1\"></span> the Group <span class=\"_ _1\"></span>has </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs208\">discussed the i<span class=\"_ _1\"></span>mpact of sustainabil<span class=\"_ _1\"></span>ity and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24a ws1 gs209\">Environmental, Soc<span class=\"_ _1\"></span>ial and Governance <span class=\"ls243\">(ESG) <span class=\"ls231\">factors </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs20a\">with th<span class=\"_ _1\"></span>e external<span class=\"_ _1\"></span> valuers <span class=\"_ _1\"></span>who value <span class=\"_ _1\"></span>the inve<span class=\"_ _1\"></span><span class=\"ls224\">stment </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs20b\">and development properties of the Group. <span class=\"_ _1\"></span>The </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs20c\">physical cli<span class=\"_ _1\"></span>mate and transitional<span class=\"_ _1\"></span> risk analysis<span class=\"_ _1\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs20d\">conducted by the<span class=\"ls1\"> <span class=\"ls20d\">Group has b<span class=\"_ _1\"></span>een shared wit<span class=\"_ _1\"></span>h, and </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs20e\">discussed with,<span class=\"_ _1\"></span> the valuers as par<span class=\"_ _1\"></span>t of the six<span class=\"ls1\">-<span class=\"ls233\">mont<span class=\"_ _1\"></span>hly </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs20f\">valuation process (see Note 1<span class=\"_ _1\"></span>0 for further details).<span class=\"ls1\"> <span class=\"ls1ec\">As </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs210\">such, the<span class=\"ls1\"> <span class=\"ls1fc\">impact o<span class=\"_ _0\"></span>f sustainability<span class=\"_ _0\"></span> and <span class=\"ls24a\">ESG</span></span> <span class=\"ls231\">factors is </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs211\">considered as part of<span class=\"ls1\"> <span class=\"ls222\">the valuation process, to the </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs212\">extent possible market<span class=\"ls1\"> <span class=\"ls234\">partici<span class=\"_ _1\"></span>pants would, and is<span class=\"_ _1\"></span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs213\">included w<span class=\"_ _0\"></span>ithin the<span class=\"ls1\"> <span class=\"ls234\">derived valuation as at t<span class=\"_ _1\"></span>he balance </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs214\">sheet date. The<span class=\"ls1\"> <span class=\"ls20d\">Group ensures <span class=\"_ _1\"></span>that to t<span class=\"_ _1\"></span>h<span class=\"ls223\">e fullest </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs215\">extent possible, the f<span class=\"_ _1\"></span>our valuers are materially </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs216\">consistent in their appli<span class=\"_ _1\"></span>cation of<span class=\"ls1\"> <span class=\"ls222\">the consideration </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs217\">of<span class=\"ls1\"> <span class=\"ls222\">these factors on</span> <span class=\"ls222\">the p<span class=\"_ _0\"></span>roperty valuations</span>.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-417": {
   "value": "Basis of preparat<span class=\"_ _0\"></span>ion<span class=\"ls1\"> </span>The financial <span class=\"_ _1\"></span>statements for the year<span class=\"_ _1\"></span> ended 31 March 202<span class=\"ls1\">6 </span>have been prepared on the his<span class=\"_ _1\"></span>torical cost basis, <span class=\"_ _1\"></span>except for the revaluation of properties<span class=\"_ _0\"></span>, investments classified as fair value through profit or <span class=\"_ _1\"></span>loss and derivatives. <span class=\"ls220\">The f<span class=\"_ _1\"></span>inancial </span>statements have been prepared in accordance with UK<span class=\"ls1\">-<span class=\"_ _216\"> </span></span>adopted International<span class=\"ls1\"> <span class=\"ls1ec\">Account<span class=\"_ _1\"></span>ing Standard<span class=\"_ _1\"></span>s and with <span class=\"_ _1\"></span>the </span></span>requirements of the C<span class=\"_ _0\"></span>ompanies Act 2006<span class=\"_ _0\"></span> as applicable to companies reporting under those standards.<span class=\"_ _216\"> </span>No new stan<span class=\"_ _1\"></span>dards or amen<span class=\"_ _1\"></span>dments have bee<span class=\"_ _1\"></span>n applied t<span class=\"_ _1\"></span>o the financial statements for th<span class=\"_ _0\"></span>e first time for the year ended 31 Marc<span class=\"ls221\">h 2026. <span class=\"ls20f\">The standar<span class=\"_ _1\"></span>ds and <span class=\"lsf2\">amendments<span class=\"ls1\"> </span></span></span></span>which hav<span class=\"_ _1\"></span>e been is<span class=\"_ _1\"></span>sued but a<span class=\"_ _1\"></span>re not yet<span class=\"_ _1\"></span> effecti<span class=\"_ _1\"></span>ve inclu<span class=\"_ _1\"></span>de IFRS 18 \u2018Pres<span class=\"_ _0\"></span>entation and D<span class=\"_ _0\"></span>isclosure in F<span class=\"_ _0\"></span>inancial Statements\u2019<span class=\"ls1\"> <span class=\"lsf2\">and</span> <span class=\"lsf2\">amendments to both <span class=\"_ _1\"></span>IFRS 9 \u2018Financial </span></span>Instrument<span class=\"_ _0\"></span>s\u2019 and IFRS 7 \u2018Fin<span class=\"_ _0\"></span>ancial Instrum<span class=\"_ _0\"></span>ents: Disclosu<span class=\"_ _0\"></span>res\u2019 in respect o<span class=\"_ _0\"></span>f the classifica<span class=\"_ _0\"></span>tion and me<span class=\"_ _0\"></span>asurement<span class=\"_ _0\"></span> of financial instrumen<span class=\"_ _0\"></span>ts<span class=\"ls22a\">. <span class=\"ls22b\">With <span class=\"_ _1\"></span>the ex<span class=\"_ _1\"></span>cepti<span class=\"_ _1\"></span>on of <span class=\"_ _1\"></span>IFRS <span class=\"_ _1\"></span>18<span class=\"ls1\"> <span class=\"ls22c\">detail<span class=\"_ _1\"></span>ed below<span class=\"ls22a\">, </span></span></span></span></span>these amendm<span class=\"_ _0\"></span>ents to standards that are not yet e<span class=\"_ _0\"></span>ffective are not expected to have a material<span class=\"_ _1\"></span> impact on the Group\u2019s<span class=\"ls1\"> <span class=\"ls211\">results.</span> </span>IFRS 18 will re<span class=\"_ _0\"></span>place IAS <span class=\"ls22f\">1 \u2018Presen<span class=\"_ _0\"></span>tation of <span class=\"ls1\">F<span class=\"ls1fc\">inancia<span class=\"_ _0\"></span>l </span></span></span>S<span class=\"ls222\">tatements\u2019</span> <span class=\"ls225\">and is effective for annual periods beginning </span>on or after 1 <span class=\"_ _1\"></span>January 2027. IFRS 18 wi<span class=\"_ _1\"></span>ll not impact the recognition or measu<span class=\"_ _0\"></span>rement of items in the financial statements, but its impact on presentation and disclosure is expecte<span class=\"_ _0\"></span>d to be mate<span class=\"_ _0\"></span>rial. <span class=\"ls1\"> </span>Management <span class=\"_ _1\"></span>is curre<span class=\"_ _1\"></span>ntly asse<span class=\"_ _1\"></span>ssing the<span class=\"_ _1\"></span> detaile<span class=\"_ _1\"></span>d implication<span class=\"_ _0\"></span>s of applying<span class=\"_ _0\"></span> the new sta<span class=\"_ _0\"></span>ndard <span class=\"ls222\">to<span class=\"ls1\"> </span>the G<span class=\"_ _0\"></span>roup\u2019s </span>consolidated<span class=\"ls1\"> <span class=\"ls231\">financial statements<span class=\"_ _0\"></span>. From the preliminary<span class=\"_ _0\"></span> </span></span>assessment performed, the following potent<span class=\"_ _1\"></span>ial impacts have been identified: <span class=\"_ _1\"></span><span class=\"ls1\"> </span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls232\">Rental income fr<span class=\"_ _1\"></span>om investment proper<span class=\"_ _1\"></span>ty, valuati<span class=\"_ _1\"></span>on </span></span>movements<span class=\"_ _1\"></span> on inv<span class=\"_ _1\"></span>estment <span class=\"_ _1\"></span>property<span class=\"_ _1\"></span> and any<span class=\"_ _1\"></span> gains <span class=\"_ _1\"></span>or losses on th<span class=\"_ _0\"></span>e disposal o<span class=\"_ _0\"></span>f investmen<span class=\"ls222\">t p<span class=\"_ _0\"></span>roperty will be </span>presented in th<span class=\"_ _1\"></span>e operating category of<span class=\"_ _1\"></span> the consolidated income statement<span class=\"ls235\">, as they arise fr<span class=\"_ _0\"></span>om the </span>Group\u2019s spe<span class=\"_ _1\"></span>cified main <span class=\"_ _1\"></span>business act<span class=\"_ _1\"></span>ivity <span class=\"ls220\">of<span class=\"ls1\"> <span class=\"ls1fc\">investing in </span></span></span>investmen<span class=\"_ _0\"></span>t property<span class=\"ls1\">. </span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls220\">The Group\u2019s s<span class=\"ls221\">hare of joint<span class=\"_ _1\"></span> venture result, and any </span></span></span>income o<span class=\"_ _0\"></span>r e<span class=\"ls226\">xpenses associated with joint ventures<span class=\"_ _1\"></span>, </span>will b<span class=\"_ _1\"></span>e presented<span class=\"_ _1\"></span> in the <span class=\"_ _1\"></span>investing <span class=\"_ _1\"></span>category,<span class=\"_ _1\"></span> outside <span class=\"_ _1\"></span>of IFRS 18\u2019s new<span class=\"_ _0\"></span> mandatory<span class=\"_ _0\"></span> operating prof<span class=\"_ _0\"></span>it subtotal. <span class=\"ls1\"> </span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls220\">The line items presente<span class=\"_ _1\"></span>d within the primary <span class=\"_ _1\"></span>financial </span></span>statements might change as a result of the enhanced pr<span class=\"ls1fc\">inciples on a<span class=\"_ _0\"></span>ggregation<span class=\"_ _0\"></span> and disagg<span class=\"_ _0\"></span>regation.<span class=\"ls1\"> </span></span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls1ec\">New disclosure<span class=\"_ _1\"></span>s will be <span class=\"_ _1\"></span>added <span class=\"ls222\">to<span class=\"ls1\"> </span>the notes to the </span></span></span>financial statemen<span class=\"_ _0\"></span>ts covering manag<span class=\"_ _0\"></span>ement<span class=\"ls1\">-<span class=\"ls234\">defined </span></span>performance measures; <span class=\"_ _1\"></span>specified expenses by<span class=\"_ _1\"></span> nature; and for the first r<span class=\"_ _1\"></span>eporting period of applying<span class=\"ls1\"> <span class=\"ls22e\">IFRS 18, a </span></span>rec<span class=\"ls220\">onciliation between <span class=\"_ _1\"></span>the restated comparative<span class=\"_ _1\"></span> </span>amounts presented under IFRS 18 and the amounts previously prese<span class=\"_ _1\"></span>nted under IAS 1.<span class=\"ls1\"> </span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls22e\">In the <span class=\"ls226\">consolidated <span class=\"ls224\">statement of cash flow<span class=\"ls1\">s<span class=\"ls235\">, f<span class=\"_ _0\"></span>ollowing </span></span></span></span></span></span>the <span class=\"ls221\">narrow scope amendments to IAS 7 <span class=\"ls235\">\u2018Statement of </span></span>Cash Flows\u2019 <span class=\"_ _1\"></span><span class=\"ls236\">which apply<span class=\"_ _1\"></span><span class=\"ls1\"> <span class=\"ls225\">at the same time as IFRS 18, </span></span></span>i<span class=\"ls221\">nterest received and dist<span class=\"_ _1\"></span>ributions from joint <span class=\"_ _1\"></span>ventures </span>will b<span class=\"_ _1\"></span>e presented<span class=\"_ _1\"></span> in the <span class=\"_ _1\"></span>investing <span class=\"_ _1\"></span>category <span class=\"_ _1\"></span>and interest pa<span class=\"_ _0\"></span>id will be prese<span class=\"_ _0\"></span>nted in finan<span class=\"_ _0\"></span>cing catego<span class=\"_ _0\"></span>ry. <span class=\"ls1\"> </span>The Group will appl<span class=\"_ _1\"></span>y <span class=\"ls22e\">IFRS 18<span class=\"ls1\"> <span class=\"ls231\">for th<span class=\"_ _0\"></span>e financial year end<span class=\"ls1fc\">ing<span class=\"_ _0\"></span></span></span> </span></span>31 March 2028. Retrospecti<span class=\"_ _1\"></span>ve application is requir<span class=\"_ _1\"></span>ed<span class=\"ls1\">, </span>therefore the comp<span class=\"_ _0\"></span>arative information for the financial year ending 31 March 2027 will<span class=\"_ _1\"></span> be restated in accordance with IF<span class=\"_ _1\"></span>RS 18. <span class=\"ls1\"> </span>These financial <span class=\"_ _1\"></span>statements are presented <span class=\"_ _1\"></span>in<span class=\"ls1\"> <span class=\"ls234\">Pounds </span></span>Sterling<span class=\"ls1\"> <span class=\"ls236\">which <span class=\"_ _1\"></span>is the <span class=\"_ _1\"></span>functional<span class=\"_ _1\"></span> currency <span class=\"_ _1\"></span>of the Gr<span class=\"_ _1\"></span>oup,<span class=\"ls1\"> </span></span></span>to<span class=\"ls1\"> </span>the nearest million. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-446": {
   "value": "The f<span class=\"_ _1\"></span>inancial statements have been prepared in accordance with UK<span class=\"ls1\">-<span class=\"_ _216\"> </span></span>adopted International<span class=\"ls1\"> <span class=\"ls1ec\">Account<span class=\"_ _1\"></span>ing Standard<span class=\"_ _1\"></span>s and with <span class=\"_ _1\"></span>the </span></span>requirements of the C<span class=\"_ _0\"></span>ompanies Act 2006<span class=\"_ _0\"></span> as applicable to companies reporting under those standards.<span class=\"_ _216\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-418": {
   "value": "Going concern<span class=\"ls1\"> </span>The financial <span class=\"_ _1\"></span>statements are prepared on <span class=\"_ _1\"></span>a going concern basis. The consol<span class=\"_ _1\"></span>idated balance sheet<span class=\"_ _1\"></span> shows that the Group is <span class=\"_ _1\"></span>in a net c<span class=\"_ _1\"></span>urrent li<span class=\"_ _1\"></span>ability pos<span class=\"_ _1\"></span>itio<span class=\"ls221\">n, predominantly </span>due to <span class=\"ls224\">short term borrowings and overdrafts of \u00a3<span class=\"ls238\">521<span class=\"ls233\">m <span class=\"ls225\">and </span></span></span></span>current creditors<span class=\"ls1\"> <span class=\"ls220\">of \u00a3<span class=\"ls239\">281<span class=\"ls233\">m.<span class=\"_ _1\"></span> The Gro<span class=\"_ _1\"></span>up has a<span class=\"_ _1\"></span>ccess t<span class=\"_ _1\"></span>o \u00a3<span class=\"ls210\">1.<span class=\"ls1\">6<span class=\"ls234\">bn </span></span></span></span></span></span></span>of undrawn facili<span class=\"_ _1\"></span>ties and cash, whic<span class=\"_ _1\"></span>h provides the Directors<span class=\"_ _1\"></span> with a re<span class=\"_ _1\"></span>asonable expect<span class=\"_ _1\"></span>ation that <span class=\"_ _1\"></span>the Group will b<span class=\"_ _1\"></span>e able to <span class=\"_ _1\"></span>m<span class=\"ls223\">eet these current liabi<span class=\"_ _1\"></span>lities as they fall<span class=\"_ _1\"></span> </span>due. In making t<span class=\"_ _1\"></span>his assessment the Di<span class=\"_ _1\"></span>rectors took into account forecast cash flows and covenant <span class=\"_ _1\"></span>compliance, including st<span class=\"_ _0\"></span>ress testing th<span class=\"_ _0\"></span>rough the im<span class=\"_ _0\"></span>pact of sen<span class=\"_ _0\"></span>sitivities as part of a \u2018severe but <span class=\"_ _1\"></span>plausible downside <span class=\"ls224\">scenario\u2019. </span>Before fact<span class=\"_ _1\"></span>oring in any <span class=\"_ _1\"></span>income receivabl<span class=\"_ _1\"></span>e, the undrawn facilities and cash wo<span class=\"_ _0\"></span>uld also be sufficient to co<span class=\"_ _0\"></span>ver forecast capital exp<span class=\"_ _0\"></span>enditure, property ope<span class=\"_ _0\"></span>rating costs, administrative expenses, maturing <span class=\"_ _1\"></span>debt and interest <span class=\"ls231\">for </span>a <span class=\"ls233\">minimum of<span class=\"_ _1\"></span> <span class=\"ls22f\">12 months f<span class=\"ls222\">rom<span class=\"_ _0\"></span> the approval date of these </span></span></span>financial statemen<span class=\"_ _0\"></span>ts. <span class=\"ls1\"> </span>Having asses<span class=\"_ _1\"></span>sed the prin<span class=\"_ _1\"></span>cipal risks<span class=\"_ _1\"></span>, the Dire<span class=\"_ _1\"></span>ctors believ<span class=\"_ _1\"></span>e that the Group is well placed<span class=\"_ _0\"></span> to manage its financing and<span class=\"_ _0\"></span> other business r<span class=\"_ _1\"></span>isks satisfactori<span class=\"_ _1\"></span>ly despite the uncer<span class=\"_ _1\"></span>tain economic climate<span class=\"ls1\">, <span class=\"lsf2\">and have a <span class=\"_ _1\"></span>reasonable expectation that </span></span>the Group ha<span class=\"ls1\">s <span class=\"lsf2\">adequate resources to continue in operati<span class=\"_ _1\"></span>on </span></span>for at least 12 month<span class=\"_ _0\"></span>s from the signing d<span class=\"_ _0\"></span>ate of these financial stateme<span class=\"_ _0\"></span>nts. Accordingly, the<span class=\"_ _0\"></span>y believe the going<span class=\"_ _0\"></span> concern<span class=\"ls1\"> <span class=\"ls22c\">basis is <span class=\"_ _1\"></span>an appropriate one.<span class=\"ls1\"> </span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-419": {
   "value": "Subsidiaries<span class=\"ls1\"> <span class=\"ls23f\">and</span> <span class=\"ls240\">joint ventures </span> </span>The consolidated acc<span class=\"_ _1\"></span>ounts include the accounts<span class=\"_ _1\"></span> of The<span class=\"ls1\"> <span class=\"ls232\">British Lan<span class=\"_ _1\"></span>d Company PLC</span></span><span class=\"ls1\"><span class=\"ls232\"> (<span class=\"ls222\">the Company<span class=\"ls1\">) <span class=\"ls225\">and all </span></span></span></span></span>subsidiaries<span class=\"ls1\"> (<span class=\"ls223\">entities controlled by Bri<span class=\"_ _1\"></span>tish Land). Control is </span></span>assumed where <span class=\"ls222\">the Company <span class=\"ls1fc\">is e<span class=\"_ _0\"></span>xposed, or h<span class=\"_ _0\"></span>as the right<span class=\"_ _0\"></span>s, </span></span>to variable returns from its involve<span class=\"_ _0\"></span>ment with investees and has the ability <span class=\"_ _1\"></span>to affect those returns <span class=\"_ _1\"></span>through its power over those invest<span class=\"_ _1\"></span>ees.<span class=\"ls1\"> </span>The results of <span class=\"_ _1\"></span>subsidiaries and j<span class=\"_ _1\"></span>oint ventures acquire<span class=\"_ _1\"></span>d or<span class=\"ls1\"> <span class=\"ls234\">disposed of duri<span class=\"_ _1\"></span>ng the yea<span class=\"ls222\">r are included from the </span></span></span>effective date of acqui<span class=\"_ _1\"></span>sition or up to the effect<span class=\"_ _1\"></span>ive date of<span class=\"ls1\"> <span class=\"ls234\">disposal. Accounti<span class=\"_ _1\"></span>ng policies of s<span class=\"_ _1\"></span>ubsidiaries and j<span class=\"_ _1\"></span>oint </span></span>ventures which differ f<span class=\"_ _1\"></span>rom Group accounting policies are adjusted on consolidation.<span class=\"_ _216\"> </span><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs7d\">All int<span class=\"_ _1\"></span>ra<span class=\"ls1\">-<span class=\"ls20d\">Group transac<span class=\"_ _1\"></span>tions, bal<span class=\"_ _1\"></span>ances, income <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls20d\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs7e\">expenses are eliminated on consol<span class=\"_ _1\"></span>idation. Joint ventures<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs7f\">are accounted for under the equity <span class=\"_ _1\"></span>method, whereby the<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs80\">consolidated balance sheet incorp<span class=\"ls220\">orate<span class=\"_ _1\"></span>s the Group\u2019s share<span class=\"_ _216\"> </span></span><span class=\"ls220\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls243 ws1 gs81\">(investor\u2019s share) of the net assets of its joint ventures.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs82\">The consolidated i<span class=\"_ _1\"></span>ncome statement incorporates <span class=\"_ _1\"></span>the<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs83\">Group\u2019s sh<span class=\"_ _1\"></span>are of joi<span class=\"_ _1\"></span>nt ventures <span class=\"_ _1\"></span>profits af<span class=\"_ _1\"></span>ter tax. <span class=\"_ _1\"></span>Their<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs84\">profits incl<span class=\"_ _1\"></span>ude revaluation movements <span class=\"_ _1\"></span>on properties.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls244 ws1 gs85\">Where <span class=\"_ _1\"></span>join<span class=\"ls222\">t ventures generate losses after tax, these are<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs86\">recognised initially against the Gro<span class=\"_ _0\"></span>up\u2019s equity investment.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs87\">If the Group\u2019s<span class=\"_ _0\"></span> equity investm<span class=\"_ _0\"></span>ent is nil, these a<span class=\"_ _0\"></span>re<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs88\">subsequently then recognised against other long term<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs89\">interests, pr<span class=\"_ _0\"></span>incipally long<span class=\"_ _0\"></span> term loans.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs8a\">Dist<span class=\"ls222\">ributions and other receivables from join<span class=\"_ _0\"></span>t ventures<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs8b\">are<span class=\"ls1\"> <span class=\"ls226\">classed as cash flows from operating acti<span class=\"_ _1\"></span>vities, except<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs8c\">where the<span class=\"_ _1\"></span>y relate <span class=\"_ _1\"></span>to a cash<span class=\"_ _1\"></span> flow ari<span class=\"_ _1\"></span>sing fr<span class=\"_ _1\"></span>om a capita<span class=\"_ _1\"></span>l<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs8d\">transaction, such as a prop<span class=\"_ _0\"></span>erty or investment disposal.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs8e\">In<span class=\"ls1\"> <span class=\"ls222\">this case they are classe<span class=\"_ _0\"></span>d as</span> <span class=\"ls226\">cash flows from<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs8f\">investing<span class=\"ls1\"> <span class=\"ls225\">activities. </span></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs90\">The Group<span class=\"ls1\"> <span class=\"ls225\">assesse</span>s <span class=\"ls222\">the recoverability of <span class=\"ls1fc\">inv<span class=\"_ _0\"></span>estments in<span class=\"_ _216\"> </span></span></span></span><span class=\"ls1\"><span class=\"ls222\"><span class=\"ls1fc\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs91\">and <span class=\"ls1fc\">loans to join<span class=\"_ _0\"></span>t ventures ag<span class=\"_ _0\"></span>ainst the joint<span class=\"_ _0\"></span> venture\u2019s <span class=\"ls221\">net<span class=\"_ _216\"> </span></span></span><span class=\"ls1fc\"><span class=\"ls221\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs92\">asset value. Amounts due are expected to <span class=\"_ _1\"></span>be recovered<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs93\">by a joint ve<span class=\"_ _1\"></span>nture selling i<span class=\"_ _1\"></span>ts properties and <span class=\"ls1fc\">investments<span class=\"_ _216\"> </span></span><span class=\"ls1fc\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs94\">and settling financial<span class=\"_ _1\"></span> assets, net of financial<span class=\"_ _1\"></span> liabilities.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs95\">The<span class=\"ls1\"> <span class=\"ls221\">net asset value of a <span class=\"_ _1\"></span>joint venture is consi<span class=\"_ _1\"></span>dered to be<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs96\">a <span class=\"ls222\">reasonable ap<span class=\"_ _0\"></span>proximation of the available asse<span class=\"_ _0\"></span>ts that<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs97\">could be realised to recover t<span class=\"_ _1\"></span>he amounts due and the<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs98\">requirement to recog<span class=\"_ _0\"></span>nise expected credit losses.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs99\">Impairmen<span class=\"_ _0\"></span>t of investmen<span class=\"_ _0\"></span>ts in joint ventu<span class=\"_ _0\"></span>res is calculated<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs9a\">in<span class=\"ls1\"> <span class=\"ls225\">accordance with IAS 36 \u2018Impairment of Assets\u2019, <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls225\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs9b\">impairme<span class=\"_ _0\"></span>nt of loans to<span class=\"_ _0\"></span> joint venture<span class=\"_ _0\"></span>s is calculated<span class=\"_ _0\"></span> in<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs9c\">accordance with IFRS <span class=\"ls220\">9.<span class=\"_ _216\"> </span></span><span class=\"ls220\"><span class=\"ls1\"> </span></span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-447": {
   "value": "Subsidiaries<span class=\"ls1\"> <span class=\"ls23f\">and</span> <span class=\"ls240\">joint ventures </span> </span>The consolidated acc<span class=\"_ _1\"></span>ounts include the accounts<span class=\"_ _1\"></span> of The<span class=\"ls1\"> <span class=\"ls232\">British Lan<span class=\"_ _1\"></span>d Company PLC</span></span><span class=\"ls1\"><span class=\"ls232\"> (<span class=\"ls222\">the Company<span class=\"ls1\">) <span class=\"ls225\">and all </span></span></span></span></span>subsidiaries<span class=\"ls1\"> (<span class=\"ls223\">entities controlled by Bri<span class=\"_ _1\"></span>tish Land). Control is </span></span>assumed where <span class=\"ls222\">the Company <span class=\"ls1fc\">is e<span class=\"_ _0\"></span>xposed, or h<span class=\"_ _0\"></span>as the right<span class=\"_ _0\"></span>s, </span></span>to variable returns from its involve<span class=\"_ _0\"></span>ment with investees and has the ability <span class=\"_ _1\"></span>to affect those returns <span class=\"_ _1\"></span>through its power over those invest<span class=\"_ _1\"></span>ees.<span class=\"ls1\"> </span>The results of <span class=\"_ _1\"></span>subsidiaries and j<span class=\"_ _1\"></span>oint ventures acquire<span class=\"_ _1\"></span>d or<span class=\"ls1\"> <span class=\"ls234\">disposed of duri<span class=\"_ _1\"></span>ng the yea<span class=\"ls222\">r are included from the </span></span></span>effective date of acqui<span class=\"_ _1\"></span>sition or up to the effect<span class=\"_ _1\"></span>ive date of<span class=\"ls1\"> <span class=\"ls234\">disposal. Accounti<span class=\"_ _1\"></span>ng policies of s<span class=\"_ _1\"></span>ubsidiaries and j<span class=\"_ _1\"></span>oint </span></span>ventures which differ f<span class=\"_ _1\"></span>rom Group accounting policies are adjusted on consolidation.<span class=\"_ _216\"> </span>All int<span class=\"_ _1\"></span>ra<span class=\"ls1\">-<span class=\"ls20d\">Group transac<span class=\"_ _1\"></span>tions, bal<span class=\"_ _1\"></span>ances, income <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls20d\"> </span></span>expenses are eliminated on consol<span class=\"_ _1\"></span>idation. Joint ventures<span class=\"_ _216\"> </span> are accounted for under the equity <span class=\"_ _1\"></span>method, whereby the<span class=\"_ _216\"> </span> consolidated balance sheet incorp<span class=\"ls220\">orate<span class=\"_ _1\"></span>s the Group\u2019s share<span class=\"_ _216\"> </span></span><span class=\"ls220\"> </span>(investor\u2019s share) of the net assets of its joint ventures.<span class=\"_ _216\"> </span> The consolidated i<span class=\"_ _1\"></span>ncome statement incorporates <span class=\"_ _1\"></span>the<span class=\"_ _216\"> </span> Group\u2019s sh<span class=\"_ _1\"></span>are of joi<span class=\"_ _1\"></span>nt ventures <span class=\"_ _1\"></span>profits af<span class=\"_ _1\"></span>ter tax. <span class=\"_ _1\"></span>Their<span class=\"_ _216\"> </span> profits incl<span class=\"_ _1\"></span>ude revaluation movements <span class=\"_ _1\"></span>on properties.<span class=\"_ _216\"> </span> Where <span class=\"_ _1\"></span>join<span class=\"ls222\">t ventures generate losses after tax, these are<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>recognised initially against the Gro<span class=\"_ _0\"></span>up\u2019s equity investment.<span class=\"_ _216\"> </span> If the Group\u2019s<span class=\"_ _0\"></span> equity investm<span class=\"_ _0\"></span>ent is nil, these a<span class=\"_ _0\"></span>re<span class=\"_ _216\"> </span> subsequently then recognised against other long term<span class=\"_ _216\"> </span> interests, pr<span class=\"_ _0\"></span>incipally long<span class=\"_ _0\"></span> term loans.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Dist<span class=\"ls222\">ributions and other receivables from join<span class=\"_ _0\"></span>t ventures<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>are<span class=\"ls1\"> <span class=\"ls226\">classed as cash flows from operating acti<span class=\"_ _1\"></span>vities, except<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span>where the<span class=\"_ _1\"></span>y relate <span class=\"_ _1\"></span>to a cash<span class=\"_ _1\"></span> flow ari<span class=\"_ _1\"></span>sing fr<span class=\"_ _1\"></span>om a capita<span class=\"_ _1\"></span>l<span class=\"_ _216\"> </span> transaction, such as a prop<span class=\"_ _0\"></span>erty or investment disposal.<span class=\"_ _216\"> </span> In<span class=\"ls1\"> <span class=\"ls222\">this case they are classe<span class=\"_ _0\"></span>d as</span> <span class=\"ls226\">cash flows from<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span>investing<span class=\"ls1\"> <span class=\"ls225\">activities. </span></span><span class=\"ls1\"> </span>The Group<span class=\"ls1\"> <span class=\"ls225\">assesse</span>s <span class=\"ls222\">the recoverability of <span class=\"ls1fc\">inv<span class=\"_ _0\"></span>estments in<span class=\"_ _216\"> </span></span></span></span><span class=\"ls1\"><span class=\"ls222\"><span class=\"ls1fc\"> </span></span></span>and <span class=\"ls1fc\">loans to join<span class=\"_ _0\"></span>t ventures ag<span class=\"_ _0\"></span>ainst the joint<span class=\"_ _0\"></span> venture\u2019s <span class=\"ls221\">net<span class=\"_ _216\"> </span></span></span><span class=\"ls1fc\"><span class=\"ls221\"> </span></span>asset value. Amounts due are expected to <span class=\"_ _1\"></span>be recovered<span class=\"_ _216\"> </span> by a joint ve<span class=\"_ _1\"></span>nture selling i<span class=\"_ _1\"></span>ts properties and <span class=\"ls1fc\">investments<span class=\"_ _216\"> </span></span><span class=\"ls1fc\"> </span>and settling financial<span class=\"_ _1\"></span> assets, net of financial<span class=\"_ _1\"></span> liabilities.<span class=\"_ _216\"> </span> The<span class=\"ls1\"> <span class=\"ls221\">net asset value of a <span class=\"_ _1\"></span>joint venture is consi<span class=\"_ _1\"></span>dered to be<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span>a <span class=\"ls222\">reasonable ap<span class=\"_ _0\"></span>proximation of the available asse<span class=\"_ _0\"></span>ts that<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>could be realised to recover t<span class=\"_ _1\"></span>he amounts due and the<span class=\"_ _216\"> </span> requirement to recog<span class=\"_ _0\"></span>nise expected credit losses.<span class=\"_ _216\"> </span> Impairmen<span class=\"_ _0\"></span>t of investmen<span class=\"_ _0\"></span>ts in joint ventu<span class=\"_ _0\"></span>res is calculated<span class=\"_ _216\"> </span> in<span class=\"ls1\"> <span class=\"ls225\">accordance with IAS 36 \u2018Impairment of Assets\u2019, <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls225\"> </span></span>impairme<span class=\"_ _0\"></span>nt of loans to<span class=\"_ _0\"></span> joint venture<span class=\"_ _0\"></span>s is calculated<span class=\"_ _0\"></span> in<span class=\"_ _216\"> </span> accordance with IFRS <span class=\"ls220\">9.<span class=\"_ _216\"> </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-469": {
   "value": "Subsidiaries<span class=\"ls1\"> <span class=\"ls23f\">and</span> <span class=\"ls240\">joint ventures </span> </span>The consolidated acc<span class=\"_ _1\"></span>ounts include the accounts<span class=\"_ _1\"></span> of The<span class=\"ls1\"> <span class=\"ls232\">British Lan<span class=\"_ _1\"></span>d Company PLC</span></span><span class=\"ls1\"><span class=\"ls232\"> (<span class=\"ls222\">the Company<span class=\"ls1\">) <span class=\"ls225\">and all </span></span></span></span></span>subsidiaries<span class=\"ls1\"> (<span class=\"ls223\">entities controlled by Bri<span class=\"_ _1\"></span>tish Land). Control is </span></span>assumed where <span class=\"ls222\">the Company <span class=\"ls1fc\">is e<span class=\"_ _0\"></span>xposed, or h<span class=\"_ _0\"></span>as the right<span class=\"_ _0\"></span>s, </span></span>to variable returns from its involve<span class=\"_ _0\"></span>ment with investees and has the ability <span class=\"_ _1\"></span>to affect those returns <span class=\"_ _1\"></span>through its power over those invest<span class=\"_ _1\"></span>ees.<span class=\"ls1\"> </span>The results of <span class=\"_ _1\"></span>subsidiaries and j<span class=\"_ _1\"></span>oint ventures acquire<span class=\"_ _1\"></span>d or<span class=\"ls1\"> <span class=\"ls234\">disposed of duri<span class=\"_ _1\"></span>ng the yea<span class=\"ls222\">r are included from the </span></span></span>effective date of acqui<span class=\"_ _1\"></span>sition or up to the effect<span class=\"_ _1\"></span>ive date of<span class=\"ls1\"> <span class=\"ls234\">disposal. Accounti<span class=\"_ _1\"></span>ng policies of s<span class=\"_ _1\"></span>ubsidiaries and j<span class=\"_ _1\"></span>oint </span></span>ventures which differ f<span class=\"_ _1\"></span>rom Group accounting policies are adjusted on consolidation.<span class=\"_ _216\"> </span>All int<span class=\"_ _1\"></span>ra<span class=\"ls1\">-<span class=\"ls20d\">Group transac<span class=\"_ _1\"></span>tions, bal<span class=\"_ _1\"></span>ances, income <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls20d\"> </span></span>expenses are eliminated on consol<span class=\"_ _1\"></span>idation. Joint ventures<span class=\"_ _216\"> </span> are accounted for under the equity <span class=\"_ _1\"></span>method, whereby the<span class=\"_ _216\"> </span> consolidated balance sheet incorp<span class=\"ls220\">orate<span class=\"_ _1\"></span>s the Group\u2019s share<span class=\"_ _216\"> </span></span><span class=\"ls220\"> </span>(investor\u2019s share) of the net assets of its joint ventures.<span class=\"_ _216\"> </span> The consolidated i<span class=\"_ _1\"></span>ncome statement incorporates <span class=\"_ _1\"></span>the<span class=\"_ _216\"> </span> Group\u2019s sh<span class=\"_ _1\"></span>are of joi<span class=\"_ _1\"></span>nt ventures <span class=\"_ _1\"></span>profits af<span class=\"_ _1\"></span>ter tax. <span class=\"_ _1\"></span>Their<span class=\"_ _216\"> </span> profits incl<span class=\"_ _1\"></span>ude revaluation movements <span class=\"_ _1\"></span>on properties.<span class=\"_ _216\"> </span> Where <span class=\"_ _1\"></span>join<span class=\"ls222\">t ventures generate losses after tax, these are<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>recognised initially against the Gro<span class=\"_ _0\"></span>up\u2019s equity investment.<span class=\"_ _216\"> </span> If the Group\u2019s<span class=\"_ _0\"></span> equity investm<span class=\"_ _0\"></span>ent is nil, these a<span class=\"_ _0\"></span>re<span class=\"_ _216\"> </span> subsequently then recognised against other long term<span class=\"_ _216\"> </span> interests, pr<span class=\"_ _0\"></span>incipally long<span class=\"_ _0\"></span> term loans.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Dist<span class=\"ls222\">ributions and other receivables from join<span class=\"_ _0\"></span>t ventures<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>are<span class=\"ls1\"> <span class=\"ls226\">classed as cash flows from operating acti<span class=\"_ _1\"></span>vities, except<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span>where the<span class=\"_ _1\"></span>y relate <span class=\"_ _1\"></span>to a cash<span class=\"_ _1\"></span> flow ari<span class=\"_ _1\"></span>sing fr<span class=\"_ _1\"></span>om a capita<span class=\"_ _1\"></span>l<span class=\"_ _216\"> </span> transaction, such as a prop<span class=\"_ _0\"></span>erty or investment disposal.<span class=\"_ _216\"> </span> In<span class=\"ls1\"> <span class=\"ls222\">this case they are classe<span class=\"_ _0\"></span>d as</span> <span class=\"ls226\">cash flows from<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span>investing<span class=\"ls1\"> <span class=\"ls225\">activities. </span></span><span class=\"ls1\"> </span>The Group<span class=\"ls1\"> <span class=\"ls225\">assesse</span>s <span class=\"ls222\">the recoverability of <span class=\"ls1fc\">inv<span class=\"_ _0\"></span>estments in<span class=\"_ _216\"> </span></span></span></span><span class=\"ls1\"><span class=\"ls222\"><span class=\"ls1fc\"> </span></span></span>and <span class=\"ls1fc\">loans to join<span class=\"_ _0\"></span>t ventures ag<span class=\"_ _0\"></span>ainst the joint<span class=\"_ _0\"></span> venture\u2019s <span class=\"ls221\">net<span class=\"_ _216\"> </span></span></span><span class=\"ls1fc\"><span class=\"ls221\"> </span></span>asset value. Amounts due are expected to <span class=\"_ _1\"></span>be recovered<span class=\"_ _216\"> </span> by a joint ve<span class=\"_ _1\"></span>nture selling i<span class=\"_ _1\"></span>ts properties and <span class=\"ls1fc\">investments<span class=\"_ _216\"> </span></span><span class=\"ls1fc\"> </span>and settling financial<span class=\"_ _1\"></span> assets, net of financial<span class=\"_ _1\"></span> liabilities.<span class=\"_ _216\"> </span> The<span class=\"ls1\"> <span class=\"ls221\">net asset value of a <span class=\"_ _1\"></span>joint venture is consi<span class=\"_ _1\"></span>dered to be<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span>a <span class=\"ls222\">reasonable ap<span class=\"_ _0\"></span>proximation of the available asse<span class=\"_ _0\"></span>ts that<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>could be realised to recover t<span class=\"_ _1\"></span>he amounts due and the<span class=\"_ _216\"> </span> requirement to recog<span class=\"_ _0\"></span>nise expected credit losses.<span class=\"_ _216\"> </span> Impairmen<span class=\"_ _0\"></span>t of investmen<span class=\"_ _0\"></span>ts in joint ventu<span class=\"_ _0\"></span>res is calculated<span class=\"_ _216\"> </span> in<span class=\"ls1\"> <span class=\"ls225\">accordance with IAS 36 \u2018Impairment of Assets\u2019, <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls225\"> </span></span>impairme<span class=\"_ _0\"></span>nt of loans to<span class=\"_ _0\"></span> joint venture<span class=\"_ _0\"></span>s is calculated<span class=\"_ _0\"></span> in<span class=\"_ _216\"> </span> accordance with IFRS <span class=\"ls220\">9.<span class=\"_ _216\"> </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-477": {
   "value": "Subsidiaries<span class=\"ls1\"> <span class=\"ls23f\">and</span> <span class=\"ls240\">joint ventures </span> </span>The consolidated acc<span class=\"_ _1\"></span>ounts include the accounts<span class=\"_ _1\"></span> of The<span class=\"ls1\"> <span class=\"ls232\">British Lan<span class=\"_ _1\"></span>d Company PLC</span></span><span class=\"ls1\"><span class=\"ls232\"> (<span class=\"ls222\">the Company<span class=\"ls1\">) <span class=\"ls225\">and all </span></span></span></span></span>subsidiaries<span class=\"ls1\"> (<span class=\"ls223\">entities controlled by Bri<span class=\"_ _1\"></span>tish Land). Control is </span></span>assumed where <span class=\"ls222\">the Company <span class=\"ls1fc\">is e<span class=\"_ _0\"></span>xposed, or h<span class=\"_ _0\"></span>as the right<span class=\"_ _0\"></span>s, </span></span>to variable returns from its involve<span class=\"_ _0\"></span>ment with investees and has the ability <span class=\"_ _1\"></span>to affect those returns <span class=\"_ _1\"></span>through its power over those invest<span class=\"_ _1\"></span>ees.<span class=\"ls1\"> </span>The results of <span class=\"_ _1\"></span>subsidiaries and j<span class=\"_ _1\"></span>oint ventures acquire<span class=\"_ _1\"></span>d or<span class=\"ls1\"> <span class=\"ls234\">disposed of duri<span class=\"_ _1\"></span>ng the yea<span class=\"ls222\">r are included from the </span></span></span>effective date of acqui<span class=\"_ _1\"></span>sition or up to the effect<span class=\"_ _1\"></span>ive date of<span class=\"ls1\"> <span class=\"ls234\">disposal. Accounti<span class=\"_ _1\"></span>ng policies of s<span class=\"_ _1\"></span>ubsidiaries and j<span class=\"_ _1\"></span>oint </span></span>ventures which differ f<span class=\"_ _1\"></span>rom Group accounting policies are adjusted on consolidation.<span class=\"_ _216\"> </span>All int<span class=\"_ _1\"></span>ra<span class=\"ls1\">-<span class=\"ls20d\">Group transac<span class=\"_ _1\"></span>tions, bal<span class=\"_ _1\"></span>ances, income <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls20d\"> </span></span>expenses are eliminated on consol<span class=\"_ _1\"></span>idation. Joint ventures<span class=\"_ _216\"> </span> are accounted for under the equity <span class=\"_ _1\"></span>method, whereby the<span class=\"_ _216\"> </span> consolidated balance sheet incorp<span class=\"ls220\">orate<span class=\"_ _1\"></span>s the Group\u2019s share<span class=\"_ _216\"> </span></span><span class=\"ls220\"> </span>(investor\u2019s share) of the net assets of its joint ventures.<span class=\"_ _216\"> </span> The consolidated i<span class=\"_ _1\"></span>ncome statement incorporates <span class=\"_ _1\"></span>the<span class=\"_ _216\"> </span> Group\u2019s sh<span class=\"_ _1\"></span>are of joi<span class=\"_ _1\"></span>nt ventures <span class=\"_ _1\"></span>profits af<span class=\"_ _1\"></span>ter tax. <span class=\"_ _1\"></span>Their<span class=\"_ _216\"> </span> profits incl<span class=\"_ _1\"></span>ude revaluation movements <span class=\"_ _1\"></span>on properties.<span class=\"_ _216\"> </span> Where <span class=\"_ _1\"></span>join<span class=\"ls222\">t ventures generate losses after tax, these are<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>recognised initially against the Gro<span class=\"_ _0\"></span>up\u2019s equity investment.<span class=\"_ _216\"> </span> If the Group\u2019s<span class=\"_ _0\"></span> equity investm<span class=\"_ _0\"></span>ent is nil, these a<span class=\"_ _0\"></span>re<span class=\"_ _216\"> </span> subsequently then recognised against other long term<span class=\"_ _216\"> </span> interests, pr<span class=\"_ _0\"></span>incipally long<span class=\"_ _0\"></span> term loans.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Dist<span class=\"ls222\">ributions and other receivables from join<span class=\"_ _0\"></span>t ventures<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>are<span class=\"ls1\"> <span class=\"ls226\">classed as cash flows from operating acti<span class=\"_ _1\"></span>vities, except<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span>where the<span class=\"_ _1\"></span>y relate <span class=\"_ _1\"></span>to a cash<span class=\"_ _1\"></span> flow ari<span class=\"_ _1\"></span>sing fr<span class=\"_ _1\"></span>om a capita<span class=\"_ _1\"></span>l<span class=\"_ _216\"> </span> transaction, such as a prop<span class=\"_ _0\"></span>erty or investment disposal.<span class=\"_ _216\"> </span> In<span class=\"ls1\"> <span class=\"ls222\">this case they are classe<span class=\"_ _0\"></span>d as</span> <span class=\"ls226\">cash flows from<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span>investing<span class=\"ls1\"> <span class=\"ls225\">activities. </span></span><span class=\"ls1\"> </span>The Group<span class=\"ls1\"> <span class=\"ls225\">assesse</span>s <span class=\"ls222\">the recoverability of <span class=\"ls1fc\">inv<span class=\"_ _0\"></span>estments in<span class=\"_ _216\"> </span></span></span></span><span class=\"ls1\"><span class=\"ls222\"><span class=\"ls1fc\"> </span></span></span>and <span class=\"ls1fc\">loans to join<span class=\"_ _0\"></span>t ventures ag<span class=\"_ _0\"></span>ainst the joint<span class=\"_ _0\"></span> venture\u2019s <span class=\"ls221\">net<span class=\"_ _216\"> </span></span></span><span class=\"ls1fc\"><span class=\"ls221\"> </span></span>asset value. Amounts due are expected to <span class=\"_ _1\"></span>be recovered<span class=\"_ _216\"> </span> by a joint ve<span class=\"_ _1\"></span>nture selling i<span class=\"_ _1\"></span>ts properties and <span class=\"ls1fc\">investments<span class=\"_ _216\"> </span></span><span class=\"ls1fc\"> </span>and settling financial<span class=\"_ _1\"></span> assets, net of financial<span class=\"_ _1\"></span> liabilities.<span class=\"_ _216\"> </span> The<span class=\"ls1\"> <span class=\"ls221\">net asset value of a <span class=\"_ _1\"></span>joint venture is consi<span class=\"_ _1\"></span>dered to be<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span>a <span class=\"ls222\">reasonable ap<span class=\"_ _0\"></span>proximation of the available asse<span class=\"_ _0\"></span>ts that<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>could be realised to recover t<span class=\"_ _1\"></span>he amounts due and the<span class=\"_ _216\"> </span> requirement to recog<span class=\"_ _0\"></span>nise expected credit losses.<span class=\"_ _216\"> </span> Impairmen<span class=\"_ _0\"></span>t of investmen<span class=\"_ _0\"></span>ts in joint ventu<span class=\"_ _0\"></span>res is calculated<span class=\"_ _216\"> </span> in<span class=\"ls1\"> <span class=\"ls225\">accordance with IAS 36 \u2018Impairment of Assets\u2019, <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls225\"> </span></span>impairme<span class=\"_ _0\"></span>nt of loans to<span class=\"_ _0\"></span> joint venture<span class=\"_ _0\"></span>s is calculated<span class=\"_ _0\"></span> in<span class=\"_ _216\"> </span> accordance with IFRS <span class=\"ls220\">9.<span class=\"_ _216\"> </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-485": {
   "value": "Subsidiaries<span class=\"ls1\"> <span class=\"ls23f\">and</span> <span class=\"ls240\">joint ventures </span> </span>The consolidated acc<span class=\"_ _1\"></span>ounts include the accounts<span class=\"_ _1\"></span> of The<span class=\"ls1\"> <span class=\"ls232\">British Lan<span class=\"_ _1\"></span>d Company PLC</span></span><span class=\"ls1\"><span class=\"ls232\"> (<span class=\"ls222\">the Company<span class=\"ls1\">) <span class=\"ls225\">and all </span></span></span></span></span>subsidiaries<span class=\"ls1\"> (<span class=\"ls223\">entities controlled by Bri<span class=\"_ _1\"></span>tish Land). Control is </span></span>assumed where <span class=\"ls222\">the Company <span class=\"ls1fc\">is e<span class=\"_ _0\"></span>xposed, or h<span class=\"_ _0\"></span>as the right<span class=\"_ _0\"></span>s, </span></span>to variable returns from its involve<span class=\"_ _0\"></span>ment with investees and has the ability <span class=\"_ _1\"></span>to affect those returns <span class=\"_ _1\"></span>through its power over those invest<span class=\"_ _1\"></span>ees.<span class=\"ls1\"> </span>The results of <span class=\"_ _1\"></span>subsidiaries and j<span class=\"_ _1\"></span>oint ventures acquire<span class=\"_ _1\"></span>d or<span class=\"ls1\"> <span class=\"ls234\">disposed of duri<span class=\"_ _1\"></span>ng the yea<span class=\"ls222\">r are included from the </span></span></span>effective date of acqui<span class=\"_ _1\"></span>sition or up to the effect<span class=\"_ _1\"></span>ive date of<span class=\"ls1\"> <span class=\"ls234\">disposal. Accounti<span class=\"_ _1\"></span>ng policies of s<span class=\"_ _1\"></span>ubsidiaries and j<span class=\"_ _1\"></span>oint </span></span>ventures which differ f<span class=\"_ _1\"></span>rom Group accounting policies are adjusted on consolidation.<span class=\"_ _216\"> </span>All int<span class=\"_ _1\"></span>ra<span class=\"ls1\">-<span class=\"ls20d\">Group transac<span class=\"_ _1\"></span>tions, bal<span class=\"_ _1\"></span>ances, income <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls20d\"> </span></span>expenses are eliminated on consol<span class=\"_ _1\"></span>idation. Joint ventures<span class=\"_ _216\"> </span> are accounted for under the equity <span class=\"_ _1\"></span>method, whereby the<span class=\"_ _216\"> </span> consolidated balance sheet incorp<span class=\"ls220\">orate<span class=\"_ _1\"></span>s the Group\u2019s share<span class=\"_ _216\"> </span></span><span class=\"ls220\"> </span>(investor\u2019s share) of the net assets of its joint ventures.<span class=\"_ _216\"> </span> The consolidated i<span class=\"_ _1\"></span>ncome statement incorporates <span class=\"_ _1\"></span>the<span class=\"_ _216\"> </span> Group\u2019s sh<span class=\"_ _1\"></span>are of joi<span class=\"_ _1\"></span>nt ventures <span class=\"_ _1\"></span>profits af<span class=\"_ _1\"></span>ter tax. <span class=\"_ _1\"></span>Their<span class=\"_ _216\"> </span> profits incl<span class=\"_ _1\"></span>ude revaluation movements <span class=\"_ _1\"></span>on properties.<span class=\"_ _216\"> </span> Where <span class=\"_ _1\"></span>join<span class=\"ls222\">t ventures generate losses after tax, these are<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>recognised initially against the Gro<span class=\"_ _0\"></span>up\u2019s equity investment.<span class=\"_ _216\"> </span> If the Group\u2019s<span class=\"_ _0\"></span> equity investm<span class=\"_ _0\"></span>ent is nil, these a<span class=\"_ _0\"></span>re<span class=\"_ _216\"> </span> subsequently then recognised against other long term<span class=\"_ _216\"> </span> interests, pr<span class=\"_ _0\"></span>incipally long<span class=\"_ _0\"></span> term loans.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Dist<span class=\"ls222\">ributions and other receivables from join<span class=\"_ _0\"></span>t ventures<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>are<span class=\"ls1\"> <span class=\"ls226\">classed as cash flows from operating acti<span class=\"_ _1\"></span>vities, except<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span>where the<span class=\"_ _1\"></span>y relate <span class=\"_ _1\"></span>to a cash<span class=\"_ _1\"></span> flow ari<span class=\"_ _1\"></span>sing fr<span class=\"_ _1\"></span>om a capita<span class=\"_ _1\"></span>l<span class=\"_ _216\"> </span> transaction, such as a prop<span class=\"_ _0\"></span>erty or investment disposal.<span class=\"_ _216\"> </span> In<span class=\"ls1\"> <span class=\"ls222\">this case they are classe<span class=\"_ _0\"></span>d as</span> <span class=\"ls226\">cash flows from<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span>investing<span class=\"ls1\"> <span class=\"ls225\">activities. </span></span><span class=\"ls1\"> </span>The Group<span class=\"ls1\"> <span class=\"ls225\">assesse</span>s <span class=\"ls222\">the recoverability of <span class=\"ls1fc\">inv<span class=\"_ _0\"></span>estments in<span class=\"_ _216\"> </span></span></span></span><span class=\"ls1\"><span class=\"ls222\"><span class=\"ls1fc\"> </span></span></span>and <span class=\"ls1fc\">loans to join<span class=\"_ _0\"></span>t ventures ag<span class=\"_ _0\"></span>ainst the joint<span class=\"_ _0\"></span> venture\u2019s <span class=\"ls221\">net<span class=\"_ _216\"> </span></span></span><span class=\"ls1fc\"><span class=\"ls221\"> </span></span>asset value. Amounts due are expected to <span class=\"_ _1\"></span>be recovered<span class=\"_ _216\"> </span> by a joint ve<span class=\"_ _1\"></span>nture selling i<span class=\"_ _1\"></span>ts properties and <span class=\"ls1fc\">investments<span class=\"_ _216\"> </span></span><span class=\"ls1fc\"> </span>and settling financial<span class=\"_ _1\"></span> assets, net of financial<span class=\"_ _1\"></span> liabilities.<span class=\"_ _216\"> </span> The<span class=\"ls1\"> <span class=\"ls221\">net asset value of a <span class=\"_ _1\"></span>joint venture is consi<span class=\"_ _1\"></span>dered to be<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span>a <span class=\"ls222\">reasonable ap<span class=\"_ _0\"></span>proximation of the available asse<span class=\"_ _0\"></span>ts that<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>could be realised to recover t<span class=\"_ _1\"></span>he amounts due and the<span class=\"_ _216\"> </span> requirement to recog<span class=\"_ _0\"></span>nise expected credit losses.<span class=\"_ _216\"> </span> Impairmen<span class=\"_ _0\"></span>t of investmen<span class=\"_ _0\"></span>ts in joint ventu<span class=\"_ _0\"></span>res is calculated<span class=\"_ _216\"> </span> in<span class=\"ls1\"> <span class=\"ls225\">accordance with IAS 36 \u2018Impairment of Assets\u2019, <span class=\"_ _1\"></span>and<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls225\"> </span></span>impairme<span class=\"_ _0\"></span>nt of loans to<span class=\"_ _0\"></span> joint venture<span class=\"_ _0\"></span>s is calculated<span class=\"_ _0\"></span> in<span class=\"_ _216\"> </span> accordance with IFRS <span class=\"ls220\">9.<span class=\"_ _216\"> </span></span><span class=\"ls220\"><span class=\"ls1\"> </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-17": {
   "value": "The British Land Company PLC",
   "dimensions": {
    "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-415": {
   "value": "The British Land Company PLC",
   "dimensions": {
    "concept": "ifrs-full:NameOfParentEntity",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-412": {
   "value": "PLC",
   "dimensions": {
    "concept": "ifrs-full:LegalFormOfEntity",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-420": {
   "value": "<div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs9e\">Properties<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs9f\">Properties are <span class=\"_ _1\"></span><span class=\"ls223\">externally valued at the balance <span class=\"_ _1\"></span>sheet date.<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gsa0\">Investmen<span class=\"_ _0\"></span>t properties are r<span class=\"_ _0\"></span>ecorded at va<span class=\"_ _0\"></span>luation where<span class=\"_ _0\"></span>as<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsa1\">trading properties are stated<span class=\"_ _0\"></span> at the lower of cost and net<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsa2\">realisable value.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gsa3\">Any surplu<span class=\"_ _1\"></span>s or defic<span class=\"_ _1\"></span>it arisi<span class=\"_ _1\"></span>ng on reval<span class=\"_ _1\"></span>uing invest<span class=\"_ _1\"></span>ment<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsa4\">properties is <span class=\"_ _1\"></span>recognised in the <span class=\"_ _1\"></span>Capital and other col<span class=\"_ _1\"></span>umn<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gsa5\">of<span class=\"ls1\"> <span class=\"ls222\">the income statem<span class=\"_ _0\"></span>ent.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gsa6\">The cost of propert<span class=\"_ _1\"></span>ies in the course <span class=\"_ _1\"></span>of development<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gsa7\">includes at<span class=\"_ _0\"></span>tributable inte<span class=\"_ _0\"></span>rest and oth<span class=\"_ _0\"></span>er associate<span class=\"_ _0\"></span>d<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gsa8\">outgoings includi<span class=\"_ _1\"></span>ng attributable devel<span class=\"_ _1\"></span>opment personnel<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gsa9\">costs. Interest is <span class=\"_ _1\"></span>calculated on the d<span class=\"ls223\">evelopment<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gsaa\">expenditure by reference to s<span class=\"_ _1\"></span>pecific borrowings, where<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsab\">relevant, and otherwise on<span class=\"_ _0\"></span> the weighted average intere<span class=\"_ _0\"></span>st<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsac\">rate of the Group\u2019s <span class=\"ls234\">borrowings. Interest is<span class=\"_ _1\"></span> not capitalised<span class=\"_ _216\"> </span></span><span class=\"ls234\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gsad\">where no <span class=\"_ _1\"></span>development <span class=\"_ _1\"></span>activity <span class=\"_ _1\"></span>is taki<span class=\"_ _1\"></span>ng place. <span class=\"_ _1\"></span>A property<span class=\"_ _216\"> </span><span class=\"_ _1\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gsae\">ceases to be tr<span class=\"ls223\">eated as a devel<span class=\"_ _1\"></span>opment property on<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsaf\">practical complet<span class=\"_ _1\"></span>ion.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gsb0\">Investmen<span class=\"_ _0\"></span>t property dispo<span class=\"_ _0\"></span>sals are recogn<span class=\"_ _0\"></span>ised on<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gsb1\">completion. Profits and losses <span class=\"_ _1\"></span>arising are recognised<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsb3\">through the Capital and<span class=\"_ _0\"></span> other column of the incom<span class=\"_ _0\"></span>e </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gsb4\">statement.<span class=\"ls1\"> <span class=\"ls220\">The profit or loss<span class=\"_ _1\"></span> on disposal<span class=\"ls1\"> <span class=\"ls1fc\">is d<span class=\"ls223\">etermined as </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsb5\">the difference between<span class=\"_ _0\"></span> the net sales proceeds and th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gsb6\">carrying amount of the asset at the <span class=\"_ _1\"></span>commencement of the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsb7\">accounting period plus capital <span class=\"_ _1\"></span>expenditure in the period. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls244 ws1 gsb8\">Where <span class=\"_ _1\"></span>proper<span class=\"_ _1\"></span>ties <span class=\"_ _1\"></span>are di<span class=\"_ _1\"></span>spose<span class=\"_ _1\"></span>d into<span class=\"_ _1\"></span> a j<span class=\"_ _1\"></span>oint v<span class=\"_ _1\"></span>entur<span class=\"_ _1\"></span>e owned<span class=\"_ _1\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsb9\">by the Group, th<span class=\"_ _1\"></span>e profit recognised <span class=\"_ _1\"></span>in the Capital a<span class=\"_ _1\"></span>nd </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gsba\">other column of the <span class=\"_ _1\"></span>income statement is li<span class=\"_ _1\"></span>mited to the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gsbb\">extent of the unrelated <span class=\"_ _1\"></span>party\u2019s interest. Any<span class=\"ls1\"> <span class=\"ls1fc\">loss is </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsbc\">recognised in the Capital an<span class=\"_ _0\"></span>d other column of the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gsbd\">income<span class=\"ls1\"> <span class=\"ls224\">statem<span class=\"_ _0\"></span>ent in full. </span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gsbe\">Trading properties<span class=\"_ _1\"></span> are <span class=\"ls1fc\">initially recog<span class=\"_ _0\"></span>nised at<span class=\"ls1\"> <span class=\"ls226\">cost and then </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsbf\">are subsequent<span class=\"ls1fc\">ly<span class=\"ls1\"> <span class=\"ls233\">measured <span class=\"_ _1\"></span>at<span class=\"ls1\"> <span class=\"ls222\">the lower of cost and net </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsc0\">realisable value. Trading prope<span class=\"_ _0\"></span>rty disposals are recognised </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gsc1\">in line with th<span class=\"_ _0\"></span>e Group\u2019s re<span class=\"_ _0\"></span>venue acco<span class=\"_ _0\"></span>unting policie<span class=\"_ _0\"></span>s.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls244 ws1 gsc2\">Where <span class=\"_ _1\"></span>inves<span class=\"_ _1\"></span>tment <span class=\"_ _1\"></span>propert<span class=\"_ _1\"></span>ies <span class=\"_ _1\"></span>are ap<span class=\"_ _1\"></span>propri<span class=\"_ _1\"></span>ated t<span class=\"_ _1\"></span>o t<span class=\"ls222\">rading </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsc3\">properties, t<span class=\"_ _1\"></span>hey are transferred <span class=\"_ _1\"></span>at market value. I<span class=\"_ _1\"></span>f </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsc4\">properties held <span class=\"_ _1\"></span>for trading are <span class=\"_ _1\"></span>appropriated to invest<span class=\"_ _1\"></span>ment </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsc5\">properties, t<span class=\"_ _1\"></span>hey are transferred <span class=\"_ _1\"></span>at book value. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gsc6\">Transfers to or <span class=\"_ _1\"></span>from an investment propert<span class=\"_ _1\"></span>y occur when, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsc7\">and only when, there is evi<span class=\"_ _1\"></span>dence<span class=\"ls1\"> <span class=\"ls220\">of change in use.</span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls244 ws1 gsc8\">Where <span class=\"_ _1\"></span>a ri<span class=\"_ _1\"></span>ght<span class=\"ls1\">-<span class=\"ls220\">of</span>-<span class=\"ls221\">use asset meets the def<span class=\"_ _1\"></span>inition of </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gsc9\">investmen<span class=\"_ _0\"></span>t property u<span class=\"_ _0\"></span>nder IFRS 16<span class=\"_ _0\"></span> \u2018Leases\u2019, the<span class=\"_ _0\"></span> right<span class=\"ls1\">-<span class=\"ls220\">of</span>-<span class=\"_ _216\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gsca\">use asset will i<span class=\"_ _1\"></span>nitially be calculat<span class=\"_ _1\"></span>ed as the present value </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gscb\">of<span class=\"ls1\"> <span class=\"ls233\">minimum <span class=\"_ _1\"></span>lease pa<span class=\"_ _1\"></span>yments un<span class=\"_ _1\"></span>der the <span class=\"_ _1\"></span>lease <span class=\"_ _1\"></span>and </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gscc\">subsequently measured u<span class=\"ls221\">nder the fair value model, based </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gscd\">on discounted cash f<span class=\"_ _1\"></span>lows of net rental <span class=\"_ _1\"></span>income earned </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gsce\">under the lease.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gscf\">The Group leases out <span class=\"_ _1\"></span>investment properties <span class=\"_ _1\"></span>under </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gsd0\">operating leases <span class=\"_ _1\"></span>with rents generall<span class=\"_ _1\"></span>y payable monthly or </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsd1\">quarterly. The <span class=\"_ _1\"></span>Group is exposed to cha<span class=\"_ _1\"></span>nges in t<span class=\"ls221\">he residual </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gsd2\">value of properties at <span class=\"_ _1\"></span>the end of current lease agreements,<span class=\"_ _1\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gsd3\">and mitigates this ris<span class=\"_ _1\"></span>k by actively managing its tenant mix </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gsd4\">in order to m<span class=\"_ _0\"></span>aximise th<span class=\"_ _0\"></span>e weighted<span class=\"_ _0\"></span> average leas<span class=\"_ _0\"></span>e term, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gsd5\">minimis<span class=\"_ _1\"></span>e vacanc<span class=\"_ _1\"></span>ies acr<span class=\"_ _1\"></span>oss the <span class=\"_ _1\"></span>portfo<span class=\"_ _1\"></span>lio and <span class=\"_ _1\"></span>maximise<span class=\"_ _1\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gsd6\">exposure to tenan<span class=\"ls222\">ts with strong financial characteristics. </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gsd7\">The Group also grants<span class=\"_ _1\"></span> tenant incentives <span class=\"_ _1\"></span>to encourage high </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsd8\">quality tenant<span class=\"_ _1\"></span>s to remain in proper<span class=\"_ _1\"></span>ties for longer <span class=\"_ _1\"></span>lease </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsd9\">terms. Tenant incentives<span class=\"_ _0\"></span>, such as rent<span class=\"ls1\">-<span class=\"ls231\">free periods a<span class=\"_ _0\"></span>nd </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gsda\">cash contributions to tenant fi<span class=\"_ _1\"></span>t<span class=\"ls1\">-<span class=\"ls220\">out, and contracted rent<span class=\"_ _1\"></span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gsdb\">increases a<span class=\"_ _0\"></span>re recognise<span class=\"_ _0\"></span>d as part of t<span class=\"_ _0\"></span>he investme<span class=\"_ _0\"></span>nt </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gsdc\">property balance.<span class=\"_ _1\"></span> The Group calculates <span class=\"_ _1\"></span>the expected </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gsdd\">credit loss for tenant i<span class=\"_ _1\"></span>ncentives and contracted rent </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gsde\">increases b<span class=\"_ _0\"></span>ased on lifetim<span class=\"_ _0\"></span>e expecte<span class=\"_ _0\"></span>d credit loss<span class=\"_ _0\"></span>es under </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gsdf\">the IFRS 9 simplified appro<span class=\"_ _0\"></span><span class=\"ls225\">ach.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20c ws1 gse0\">Surrender premia payabl<span class=\"_ _1\"></span>e relating to i<span class=\"_ _1\"></span>nvestment </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gse1\">properties are <span class=\"_ _1\"></span>recognised in the i<span class=\"_ _1\"></span>ncome statement, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gse2\">through the Unde<span class=\"_ _0\"></span>rlying column, except whe<span class=\"_ _0\"></span>re the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gse3\">surrender premia payable are deemed to be unusual or </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gse4\">significant by virtue of<span class=\"ls1\"> <span class=\"ls222\">their size or nature, wher<span class=\"ls223\">e they are </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gse5\">recognised through<span class=\"_ _0\"></span> the Capital and other colum<span class=\"_ _0\"></span>n. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20c ws1 gse6\">Surrender premia payabl<span class=\"_ _1\"></span>e relating to deve<span class=\"_ _1\"></span>lopment </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gse7\">properties are <span class=\"_ _1\"></span>capitalised as a <span class=\"_ _1\"></span>property addition provi<span class=\"_ _1\"></span>ding </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gse8\">they are a directly attributable and<span class=\"_ _0\"></span> necessary </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gse9\">development expense.<span class=\"ls1\"> <span class=\"_ _1b8\"> </span> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-421": {
   "value": "Financial assets a<span class=\"_ _0\"></span>nd liabilities<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Debtors and <span class=\"_ _1\"></span>creditors <span class=\"_ _1\"></span>are initi<span class=\"_ _1\"></span>ally recogn<span class=\"_ _1\"></span>ised at fai<span class=\"_ _1\"></span>r value<span class=\"_ _216\"> </span> and subsequently measured at amortised cost and<span class=\"_ _216\"> </span> discounted as appropr<span class=\"_ _1\"></span>iate. On initi<span class=\"_ _1\"></span>al recog<span class=\"ls221\">nition the<span class=\"_ _216\"> </span></span><span class=\"ls221\"> </span>Group calc<span class=\"_ _1\"></span>ulates the <span class=\"_ _1\"></span>expected credi<span class=\"_ _1\"></span>t loss fo<span class=\"_ _1\"></span>r debtors<span class=\"_ _216\"> </span> based on lifet<span class=\"_ _1\"></span>ime expected credit l<span class=\"_ _1\"></span>osses under the IFRS 9<span class=\"_ _216\"> </span> simplified approach.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Other i<span class=\"_ _1\"></span>nvestments i<span class=\"_ _1\"></span>nclude i<span class=\"_ _1\"></span>nvestments <span class=\"_ _1\"></span>classifi<span class=\"_ _1\"></span>ed as<span class=\"_ _216\"> </span> amortised cost and investments classi<span class=\"_ _1\"></span>fied as fair value<span class=\"_ _216\"> </span> thro<span class=\"ls221\">ugh profit or loss.<span class=\"_ _1\"></span> Loans and receivables classif<span class=\"_ _1\"></span>ied as<span class=\"_ _216\"> </span></span><span class=\"ls221\"> </span>amortised cost are measured using the ef<span class=\"_ _1\"></span>fective interest<span class=\"_ _216\"> </span> method,<span class=\"_ _1\"></span> less a<span class=\"_ _1\"></span>ny impai<span class=\"_ _1\"></span>rment. I<span class=\"_ _1\"></span>nterest<span class=\"_ _1\"></span> is r<span class=\"_ _1\"></span>ecognised<span class=\"_ _1\"></span> by<span class=\"_ _216\"> </span> applying the effective i<span class=\"_ _1\"></span>nterest rate. Investments classi<span class=\"_ _1\"></span>fied<span class=\"_ _216\"> </span> as fair value through prof<span class=\"_ _1\"></span>i<span class=\"ls222\">t or loss are initially recorded at<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>fair value and are su<span class=\"_ _0\"></span>bsequently externa<span class=\"_ _0\"></span>lly valued on the<span class=\"_ _216\"> </span> same basis at the balance sheet date. Any surplus or<span class=\"_ _216\"> </span> deficit ari<span class=\"_ _1\"></span>sing on revaluing <span class=\"_ _1\"></span>investments classif<span class=\"_ _1\"></span>ied as fair<span class=\"_ _216\"> </span> value through profit or <span class=\"_ _1\"></span>loss is recognised in the <span class=\"ls20e\">Ca<span class=\"_ _1\"></span>pital<span class=\"_ _216\"> </span></span><span class=\"ls20e\"> </span>and other column of the income statement. <span class=\"_ _1\"></span><span class=\"ls1\"> </span>The liabili<span class=\"_ _1\"></span>ty associated with i<span class=\"_ _1\"></span>nvestment property which<span class=\"_ _216\"> </span> is<span class=\"ls1\"> <span class=\"ls221\">held under a lease, is <span class=\"_ _1\"></span>initially calculat<span class=\"_ _1\"></span>ed as the present<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span>value of the minimum lease payments.<span class=\"_ _1\"></span> The lease liability<span class=\"_ _216\"> </span> is<span class=\"ls1\"> <span class=\"ls224\">subsequently measured at am<span class=\"ls220\">ortised cost,</span></span> <span class=\"ls221\">unwinding<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span>as<span class=\"ls1\"> <span class=\"ls231\">finance lease intere<span class=\"_ _0\"></span>st accrues and lease<span class=\"_ _0\"></span> payments<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls231\"> </span></span>are<span class=\"ls1\"> <span class=\"ls233\">made.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span>Debt inst<span class=\"_ _1\"></span>ruments are s<span class=\"_ _1\"></span>tated at t<span class=\"_ _1\"></span>heir fair <span class=\"_ _1\"></span>value on i<span class=\"_ _1\"></span>ssue.<span class=\"_ _216\"> </span> Finance charges i<span class=\"_ _1\"></span>ncluding premia payable <span class=\"_ _1\"></span>on settlement<span class=\"_ _216\"> </span> or redemption and di<span class=\"_ _1\"></span>rect issue costs ar<span class=\"_ _1\"></span>e spread over the<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>period to maturi<span class=\"_ _1\"></span>ty, using the ef<span class=\"_ _1\"></span>fective interest <span class=\"_ _1\"></span>method.<span class=\"_ _216\"> </span> Exceptional fi<span class=\"_ _1\"></span>nance charges incurr<span class=\"_ _1\"></span>ed due to early<span class=\"_ _216\"> </span> redemption (including<span class=\"_ _0\"></span> premia) are recognised in the<span class=\"_ _216\"> </span> income st<span class=\"_ _0\"></span>atement wh<span class=\"_ _0\"></span>en they occ<span class=\"_ _0\"></span>ur. <span class=\"ff3c fc11 ls1\"> </span>As defined<span class=\"_ _1\"></span> by IFRS 9,<span class=\"_ _1\"></span> cash flo<span class=\"_ _1\"></span>w and fair <span class=\"_ _1\"></span>value hedges <span class=\"_ _1\"></span>are<span class=\"_ _216\"> </span> ini<span class=\"ls222\">tially recognised at fair value at the d<span class=\"_ _0\"></span>ate the derivative<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>contracts are entered into, and <span class=\"_ _1\"></span>subsequently remeasured<span class=\"_ _216\"> </span> at fair value. Changes i<span class=\"_ _1\"></span>n the fair value of deri<span class=\"_ _1\"></span>vatives that<span class=\"_ _216\"> </span> are designated and qualify as <span class=\"_ _1\"></span>effective cash flow hedges<span class=\"_ _216\"> </span> are recognised directly<span class=\"ls1\"> <span class=\"ls222\">through other comprehensive<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls222\"> </span></span>income as<span class=\"_ _0\"></span> a moveme<span class=\"_ _0\"></span>nt in the hed<span class=\"_ _0\"></span>ging and tra<span class=\"_ _0\"></span>nslation<span class=\"_ _216\"> </span> reserve. Changes in the fair va<span class=\"_ _0\"></span>lue of derivatives that are<span class=\"_ _216\"> </span> designated and qual<span class=\"_ _1\"></span>ify as effecti<span class=\"_ _1\"></span>ve fair value hedge<span class=\"_ _1\"></span>s are<span class=\"_ _216\"> </span> recorded in the Capital and<span class=\"_ _0\"></span> other column of the incom<span class=\"_ _0\"></span>e<span class=\"_ _216\"> </span> sta<span class=\"ls222\">tement, along with any<span class=\"_ _0\"></span> changes in the fair value of the<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>hedged item that is at<span class=\"_ _1\"></span>tributable to the hedged ri<span class=\"_ _1\"></span>sk. Any<span class=\"_ _216\"> </span> ineffective p<span class=\"_ _0\"></span>ortion of all d<span class=\"_ _0\"></span>erivatives is re<span class=\"_ _0\"></span>cognised in t<span class=\"_ _0\"></span>he<span class=\"_ _216\"> </span> Capital an<span class=\"_ _1\"></span>d other column o<span class=\"_ _1\"></span>f the income s<span class=\"_ _1\"></span>tatement.<span class=\"_ _216\"> </span> Changes in <span class=\"_ _1\"></span>the fair val<span class=\"_ _1\"></span>ue of deri<span class=\"ls223\">vati<span class=\"_ _1\"></span>ves that are not in<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span>a <span class=\"ls234\">designated hedging relat<span class=\"_ _1\"></span>ionship under IFRS 9 <span class=\"_ _1\"></span>are<span class=\"_ _216\"> </span></span><span class=\"ls234\"> </span>recorded directly in the Cap<span class=\"_ _0\"></span>ital and other column of the<span class=\"_ _216\"> </span> income st<span class=\"_ _0\"></span>atement. Th<span class=\"_ _0\"></span>ese derivativ<span class=\"_ _0\"></span>es are carried<span class=\"_ _0\"></span> at fair<span class=\"_ _216\"> </span> value on the balance sheet.<span class=\"_ _216\"> </span>Cash equival<span class=\"_ _1\"></span>ents include<span class=\"_ _1\"></span> short<span class=\"ls1\"> <span class=\"ls222\">term depo<span class=\"ls224\">sits that are </span></span></span>instrumen<span class=\"_ _0\"></span>ts with a mat<span class=\"_ _0\"></span>urity of less th<span class=\"_ _0\"></span>an three mo<span class=\"_ _0\"></span>nths, and<span class=\"ls1\"> <span class=\"ls222\">tenant deposits.</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-448": {
   "value": "Financial assets a<span class=\"_ _0\"></span>nd liabilities<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Debtors and <span class=\"_ _1\"></span>creditors <span class=\"_ _1\"></span>are initi<span class=\"_ _1\"></span>ally recogn<span class=\"_ _1\"></span>ised at fai<span class=\"_ _1\"></span>r value<span class=\"_ _216\"> </span> and subsequently measured at amortised cost and<span class=\"_ _216\"> </span> discounted as appropr<span class=\"_ _1\"></span>iate. On initi<span class=\"_ _1\"></span>al recog<span class=\"ls221\">nition the<span class=\"_ _216\"> </span></span><span class=\"ls221\"> </span>Group calc<span class=\"_ _1\"></span>ulates the <span class=\"_ _1\"></span>expected credi<span class=\"_ _1\"></span>t loss fo<span class=\"_ _1\"></span>r debtors<span class=\"_ _216\"> </span> based on lifet<span class=\"_ _1\"></span>ime expected credit l<span class=\"_ _1\"></span>osses under the IFRS 9<span class=\"_ _216\"> </span> simplified approach.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Other i<span class=\"_ _1\"></span>nvestments i<span class=\"_ _1\"></span>nclude i<span class=\"_ _1\"></span>nvestments <span class=\"_ _1\"></span>classifi<span class=\"_ _1\"></span>ed as<span class=\"_ _216\"> </span> amortised cost and investments classi<span class=\"_ _1\"></span>fied as fair value<span class=\"_ _216\"> </span> thro<span class=\"ls221\">ugh profit or loss.<span class=\"_ _1\"></span> Loans and receivables classif<span class=\"_ _1\"></span>ied as<span class=\"_ _216\"> </span></span><span class=\"ls221\"> </span>amortised cost are measured using the ef<span class=\"_ _1\"></span>fective interest<span class=\"_ _216\"> </span> method,<span class=\"_ _1\"></span> less a<span class=\"_ _1\"></span>ny impai<span class=\"_ _1\"></span>rment. I<span class=\"_ _1\"></span>nterest<span class=\"_ _1\"></span> is r<span class=\"_ _1\"></span>ecognised<span class=\"_ _1\"></span> by<span class=\"_ _216\"> </span> applying the effective i<span class=\"_ _1\"></span>nterest rate. Investments classi<span class=\"_ _1\"></span>fied<span class=\"_ _216\"> </span> as fair value through prof<span class=\"_ _1\"></span>i<span class=\"ls222\">t or loss are initially recorded at<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>fair value and are su<span class=\"_ _0\"></span>bsequently externa<span class=\"_ _0\"></span>lly valued on the<span class=\"_ _216\"> </span> same basis at the balance sheet date. Any surplus or<span class=\"_ _216\"> </span> deficit ari<span class=\"_ _1\"></span>sing on revaluing <span class=\"_ _1\"></span>investments classif<span class=\"_ _1\"></span>ied as fair<span class=\"_ _216\"> </span> value through profit or <span class=\"_ _1\"></span>loss is recognised in the <span class=\"ls20e\">Ca<span class=\"_ _1\"></span>pital<span class=\"_ _216\"> </span></span><span class=\"ls20e\"> </span>and other column of the income statement. <span class=\"_ _1\"></span><span class=\"ls1\"> </span>The liabili<span class=\"_ _1\"></span>ty associated with i<span class=\"_ _1\"></span>nvestment property which<span class=\"_ _216\"> </span> is<span class=\"ls1\"> <span class=\"ls221\">held under a lease, is <span class=\"_ _1\"></span>initially calculat<span class=\"_ _1\"></span>ed as the present<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span>value of the minimum lease payments.<span class=\"_ _1\"></span> The lease liability<span class=\"_ _216\"> </span> is<span class=\"ls1\"> <span class=\"ls224\">subsequently measured at am<span class=\"ls220\">ortised cost,</span></span> <span class=\"ls221\">unwinding<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls221\"> </span></span>as<span class=\"ls1\"> <span class=\"ls231\">finance lease intere<span class=\"_ _0\"></span>st accrues and lease<span class=\"_ _0\"></span> payments<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls231\"> </span></span>are<span class=\"ls1\"> <span class=\"ls233\">made.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span>Debt inst<span class=\"_ _1\"></span>ruments are s<span class=\"_ _1\"></span>tated at t<span class=\"_ _1\"></span>heir fair <span class=\"_ _1\"></span>value on i<span class=\"_ _1\"></span>ssue.<span class=\"_ _216\"> </span> Finance charges i<span class=\"_ _1\"></span>ncluding premia payable <span class=\"_ _1\"></span>on settlement<span class=\"_ _216\"> </span> or redemption and di<span class=\"_ _1\"></span>rect issue costs ar<span class=\"_ _1\"></span>e spread over the<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>period to maturi<span class=\"_ _1\"></span>ty, using the ef<span class=\"_ _1\"></span>fective interest <span class=\"_ _1\"></span>method.<span class=\"_ _216\"> </span> Exceptional fi<span class=\"_ _1\"></span>nance charges incurr<span class=\"_ _1\"></span>ed due to early<span class=\"_ _216\"> </span> redemption (including<span class=\"_ _0\"></span> premia) are recognised in the<span class=\"_ _216\"> </span> income st<span class=\"_ _0\"></span>atement wh<span class=\"_ _0\"></span>en they occ<span class=\"_ _0\"></span>ur. <span class=\"ff3c fc11 ls1\"> </span>As defined<span class=\"_ _1\"></span> by IFRS 9,<span class=\"_ _1\"></span> cash flo<span class=\"_ _1\"></span>w and fair <span class=\"_ _1\"></span>value hedges <span class=\"_ _1\"></span>are<span class=\"_ _216\"> </span> ini<span class=\"ls222\">tially recognised at fair value at the d<span class=\"_ _0\"></span>ate the derivative<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>contracts are entered into, and <span class=\"_ _1\"></span>subsequently remeasured<span class=\"_ _216\"> </span> at fair value. Changes i<span class=\"_ _1\"></span>n the fair value of deri<span class=\"_ _1\"></span>vatives that<span class=\"_ _216\"> </span> are designated and qualify as <span class=\"_ _1\"></span>effective cash flow hedges<span class=\"_ _216\"> </span> are recognised directly<span class=\"ls1\"> <span class=\"ls222\">through other comprehensive<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls222\"> </span></span>income as<span class=\"_ _0\"></span> a moveme<span class=\"_ _0\"></span>nt in the hed<span class=\"_ _0\"></span>ging and tra<span class=\"_ _0\"></span>nslation<span class=\"_ _216\"> </span> reserve. Changes in the fair va<span class=\"_ _0\"></span>lue of derivatives that are<span class=\"_ _216\"> </span> designated and qual<span class=\"_ _1\"></span>ify as effecti<span class=\"_ _1\"></span>ve fair value hedge<span class=\"_ _1\"></span>s are<span class=\"_ _216\"> </span> recorded in the Capital and<span class=\"_ _0\"></span> other column of the incom<span class=\"_ _0\"></span>e<span class=\"_ _216\"> </span> sta<span class=\"ls222\">tement, along with any<span class=\"_ _0\"></span> changes in the fair value of the<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span>hedged item that is at<span class=\"_ _1\"></span>tributable to the hedged ri<span class=\"_ _1\"></span>sk. Any<span class=\"_ _216\"> </span> ineffective p<span class=\"_ _0\"></span>ortion of all d<span class=\"_ _0\"></span>erivatives is re<span class=\"_ _0\"></span>cognised in t<span class=\"_ _0\"></span>he<span class=\"_ _216\"> </span> Capital an<span class=\"_ _1\"></span>d other column o<span class=\"_ _1\"></span>f the income s<span class=\"_ _1\"></span>tatement.<span class=\"_ _216\"> </span> Changes in <span class=\"_ _1\"></span>the fair val<span class=\"_ _1\"></span>ue of deri<span class=\"ls223\">vati<span class=\"_ _1\"></span>ves that are not in<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span>a <span class=\"ls234\">designated hedging relat<span class=\"_ _1\"></span>ionship under IFRS 9 <span class=\"_ _1\"></span>are<span class=\"_ _216\"> </span></span><span class=\"ls234\"> </span>recorded directly in the Cap<span class=\"_ _0\"></span>ital and other column of the<span class=\"_ _216\"> </span> income st<span class=\"_ _0\"></span>atement. Th<span class=\"_ _0\"></span>ese derivativ<span class=\"_ _0\"></span>es are carried<span class=\"_ _0\"></span> at fair<span class=\"_ _216\"> </span> value on the balance sheet.<span class=\"_ _216\"> </span>Cash equival<span class=\"_ _1\"></span>ents include<span class=\"_ _1\"></span> short<span class=\"ls1\"> <span class=\"ls222\">term depo<span class=\"ls224\">sits that are </span></span></span>instrumen<span class=\"_ _0\"></span>ts with a mat<span class=\"_ _0\"></span>urity of less th<span class=\"_ _0\"></span>an three mo<span class=\"_ _0\"></span>nths, and<span class=\"ls1\"> <span class=\"ls222\">tenant deposits.</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-470": {
   "value": "Financial assets a<span class=\"_ _0\"></span>nd liabilities<span class=\"_ _216\"> </span>Debtors and <span class=\"_ _1\"></span>creditors <span class=\"_ _1\"></span>are initi<span class=\"_ _1\"></span>ally recogn<span class=\"_ _1\"></span>ised at fai<span class=\"_ _1\"></span>r value<span class=\"_ _216\"> </span>and subsequently measured at amortised cost and<span class=\"_ _216\"> </span>discounted as appropr<span class=\"_ _1\"></span>iate. On initi<span class=\"_ _1\"></span>al recog<span class=\"ls221\">nition the<span class=\"_ _216\"> </span></span>Group calc<span class=\"_ _1\"></span>ulates the <span class=\"_ _1\"></span>expected credi<span class=\"_ _1\"></span>t loss fo<span class=\"_ _1\"></span>r debtors<span class=\"_ _216\"> </span>based on lifet<span class=\"_ _1\"></span>ime expected credit l<span class=\"_ _1\"></span>osses under the IFRS 9<span class=\"_ _216\"> </span>simplified approach.<span class=\"_ _216\"> </span>Other i<span class=\"_ _1\"></span>nvestments i<span class=\"_ _1\"></span>nclude i<span class=\"_ _1\"></span>nvestments <span class=\"_ _1\"></span>classifi<span class=\"_ _1\"></span>ed as<span class=\"_ _216\"> </span>amortised cost and investments classi<span class=\"_ _1\"></span>fied as fair value<span class=\"_ _216\"> </span>thro<span class=\"ls221\">ugh profit or loss.<span class=\"_ _1\"></span> Loans and receivables classif<span class=\"_ _1\"></span>ied as<span class=\"_ _216\"> </span></span>amortised cost are measured using the ef<span class=\"_ _1\"></span>fective interest<span class=\"_ _216\"> </span>method,<span class=\"_ _1\"></span> less a<span class=\"_ _1\"></span>ny impai<span class=\"_ _1\"></span>rment. I<span class=\"_ _1\"></span>nterest<span class=\"_ _1\"></span> is r<span class=\"_ _1\"></span>ecognised<span class=\"_ _1\"></span> by<span class=\"_ _216\"> </span>applying the effective i<span class=\"_ _1\"></span>nterest rate. Investments classi<span class=\"_ _1\"></span>fied<span class=\"_ _216\"> </span>as fair value through prof<span class=\"_ _1\"></span>i<span class=\"ls222\">t or loss are initially recorded at<span class=\"_ _216\"> </span></span>fair value and are su<span class=\"_ _0\"></span>bsequently externa<span class=\"_ _0\"></span>lly valued on the<span class=\"_ _216\"> </span>same basis at the balance sheet date. Any surplus or<span class=\"_ _216\"> </span>deficit ari<span class=\"_ _1\"></span>sing on revaluing <span class=\"_ _1\"></span>investments classif<span class=\"_ _1\"></span>ied as fair<span class=\"_ _216\"> </span>value through profit or <span class=\"_ _1\"></span>loss is recognised in the <span class=\"ls20e\">Ca<span class=\"_ _1\"></span>pital<span class=\"_ _216\"> </span></span>and other column of the income statement. The liabili<span class=\"_ _1\"></span>ty associated with i<span class=\"_ _1\"></span>nvestment property which<span class=\"_ _216\"> </span>is<span class=\"ls1\"> <span class=\"ls221\">held under a lease, is <span class=\"_ _1\"></span>initially calculat<span class=\"_ _1\"></span>ed as the present<span class=\"_ _216\"> </span></span></span>value of the minimum lease payments.<span class=\"_ _1\"></span> The lease liability<span class=\"_ _216\"> </span>is<span class=\"ls1\"> <span class=\"ls224\">subsequently measured at am<span class=\"ls220\">ortised cost,</span></span> <span class=\"ls221\">unwinding<span class=\"_ _216\"> </span></span></span>as<span class=\"ls1\"> <span class=\"ls231\">finance lease intere<span class=\"_ _0\"></span>st accrues and lease<span class=\"_ _0\"></span> payments<span class=\"_ _216\"> </span></span></span>are<span class=\"ls1\"> <span class=\"ls233\">made.<span class=\"_ _216\"> </span></span></span>Debt inst<span class=\"_ _1\"></span>ruments are s<span class=\"_ _1\"></span>tated at t<span class=\"_ _1\"></span>heir fair <span class=\"_ _1\"></span>value on i<span class=\"_ _1\"></span>ssue.<span class=\"_ _216\"> </span>Finance charges i<span class=\"_ _1\"></span>ncluding premia payable <span class=\"_ _1\"></span>on settlement<span class=\"_ _216\"> </span>or redemption and di<span class=\"_ _1\"></span>rect issue costs ar<span class=\"_ _1\"></span>e spread over the<span class=\"_ _216\"> </span>period to maturi<span class=\"_ _1\"></span>ty, using the ef<span class=\"_ _1\"></span>fective interest <span class=\"_ _1\"></span>method.<span class=\"_ _216\"> </span>Exceptional fi<span class=\"_ _1\"></span>nance charges incurr<span class=\"_ _1\"></span>ed due to early<span class=\"_ _216\"> </span>redemption (including<span class=\"_ _0\"></span> premia) are recognised in the<span class=\"_ _216\"> </span>income st<span class=\"_ _0\"></span>atement wh<span class=\"_ _0\"></span>en they occ<span class=\"_ _0\"></span>ur. As defined<span class=\"_ _1\"></span> by IFRS 9,<span class=\"_ _1\"></span> cash flo<span class=\"_ _1\"></span>w and fair <span class=\"_ _1\"></span>value hedges <span class=\"_ _1\"></span>are<span class=\"_ _216\"> </span>ini<span class=\"ls222\">tially recognised at fair value at the d<span class=\"_ _0\"></span>ate the derivative<span class=\"_ _216\"> </span></span>contracts are entered into, and <span class=\"_ _1\"></span>subsequently remeasured<span class=\"_ _216\"> </span>at fair value. Changes i<span class=\"_ _1\"></span>n the fair value of deri<span class=\"_ _1\"></span>vatives that<span class=\"_ _216\"> </span>are designated and qualify as <span class=\"_ _1\"></span>effective cash flow hedges<span class=\"_ _216\"> </span>are recognised directly<span class=\"ls1\"> <span class=\"ls222\">through other comprehensive<span class=\"_ _216\"> </span></span></span>income as<span class=\"_ _0\"></span> a moveme<span class=\"_ _0\"></span>nt in the hed<span class=\"_ _0\"></span>ging and tra<span class=\"_ _0\"></span>nslation<span class=\"_ _216\"> </span>reserve. Changes in the fair va<span class=\"_ _0\"></span>lue of derivatives that are<span class=\"_ _216\"> </span>designated and qual<span class=\"_ _1\"></span>ify as effecti<span class=\"_ _1\"></span>ve fair value hedge<span class=\"_ _1\"></span>s are<span class=\"_ _216\"> </span>recorded in the Capital and<span class=\"_ _0\"></span> other column of the incom<span class=\"_ _0\"></span>e<span class=\"_ _216\"> </span>sta<span class=\"ls222\">tement, along with any<span class=\"_ _0\"></span> changes in the fair value of the<span class=\"_ _216\"> </span></span>hedged item that is at<span class=\"_ _1\"></span>tributable to the hedged ri<span class=\"_ _1\"></span>sk. Any<span class=\"_ _216\"> </span>ineffective p<span class=\"_ _0\"></span>ortion of all d<span class=\"_ _0\"></span>erivatives is re<span class=\"_ _0\"></span>cognised in t<span class=\"_ _0\"></span>he<span class=\"_ _216\"> </span>Capital an<span class=\"_ _1\"></span>d other column o<span class=\"_ _1\"></span>f the income s<span class=\"_ _1\"></span>tatement.<span class=\"_ _216\"> </span>Changes in <span class=\"_ _1\"></span>the fair val<span class=\"_ _1\"></span>ue of deri<span class=\"ls223\">vati<span class=\"_ _1\"></span>ves that are not in<span class=\"_ _216\"> </span></span>a <span class=\"ls234\">designated hedging relat<span class=\"_ _1\"></span>ionship under IFRS 9 <span class=\"_ _1\"></span>are<span class=\"_ _216\"> </span></span>recorded directly in the Cap<span class=\"_ _0\"></span>ital and other column of the<span class=\"_ _216\"> </span>income st<span class=\"_ _0\"></span>atement. Th<span class=\"_ _0\"></span>ese derivativ<span class=\"_ _0\"></span>es are carried<span class=\"_ _0\"></span> at fair<span class=\"_ _216\"> </span>value on the balance sheet.<span class=\"_ _216\"> </span>Cash equival<span class=\"_ _1\"></span>ents include<span class=\"_ _1\"></span> short<span class=\"ls1\"> <span class=\"ls222\">term depo<span class=\"ls224\">sits that are </span></span></span>instrumen<span class=\"_ _0\"></span>ts with a mat<span class=\"_ _0\"></span>urity of less th<span class=\"_ _0\"></span>an three mo<span class=\"_ _0\"></span>nths, and<span class=\"ls1\"> <span class=\"ls222\">tenant deposits.</span></span><span class=\"ls1\"><span class=\"ls222\"> </span></span><span class=\"ls1\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-422": {
   "value": "Revenue<span class=\"ls1\"> </span>Revenue comprise<span class=\"_ _1\"></span>s rental in<span class=\"_ _1\"></span>come<span class=\"ls1\">, <span class=\"ls224\">surrender premia, </span></span>service charge income, management and performance<span class=\"_ _0\"></span> fees and procee<span class=\"_ _0\"></span>ds from the sale of tradin<span class=\"_ _0\"></span>g properties. <span class=\"ls1\"> </span>Rental inco<span class=\"_ _1\"></span>me and surrender <span class=\"_ _1\"></span>premia are recog<span class=\"_ _1\"></span>nised in accordance with IFRS 16.<span class=\"ls1\"> <span class=\"ls249\">For leas<span class=\"_ _1\"></span>es where a single </span></span>payment is recei<span class=\"_ _1\"></span>ved to cover both rent <span class=\"_ _1\"></span>and service charge, the service charge component is separat<span class=\"_ _1\"></span>ed out and reported as service charge i<span class=\"_ _1\"></span>ncome.<span class=\"ls1\"> </span>Rental <span class=\"ls1fc\">income, including<span class=\"_ _0\"></span> fixed rental u<span class=\"_ _0\"></span>plifts, from </span>investmen<span class=\"_ _0\"></span>t property le<span class=\"_ _0\"></span>ased out un<span class=\"_ _0\"></span>der an oper<span class=\"_ _0\"></span>ating lease is recognis<span class=\"_ _0\"></span>ed as revenu<span class=\"_ _0\"></span>e on a straig<span class=\"_ _0\"></span>ht<span class=\"ls1\">-</span>line basis o<span class=\"_ _0\"></span>ver the lease term<span class=\"_ _0\"></span>. Tenant ince<span class=\"_ _0\"></span>ntives, such a<span class=\"_ _0\"></span>s rent<span class=\"ls1\">-<span class=\"ls231\">free period<span class=\"_ _0\"></span>s </span></span>and cash contributions to tenant <span class=\"_ _1\"></span>fit<span class=\"ls1\">-<span class=\"ls220\">ou<span class=\"ls222\">t, are recognised on </span></span></span>the same straight<span class=\"ls1\">-<span class=\"ls1fc\">lin<span class=\"_ _0\"></span>e basis being<span class=\"_ _0\"></span> an integral p<span class=\"_ _0\"></span>art of the </span></span>net consideration for<span class=\"_ _1\"></span> the use of the invest<span class=\"_ _1\"></span>ment property. Any rent <span class=\"_ _1\"></span>adjustments b<span class=\"_ _1\"></span>ased on open <span class=\"_ _1\"></span>market esti<span class=\"_ _1\"></span>mated rental values are recognised<span class=\"_ _0\"></span>, based on managem<span class=\"_ _0\"></span>ent estimates, from <span class=\"ls222\">the rent review date in relation to </span>unsettled rent revi<span class=\"_ _1\"></span>ews. Contingent rents, being t<span class=\"_ _1\"></span>hose lease payments that are <span class=\"_ _1\"></span>not fixed at the <span class=\"_ _1\"></span>inception of the l<span class=\"_ _1\"></span>ease, including fo<span class=\"_ _0\"></span>r example tu<span class=\"_ _0\"></span>rnover rent<span class=\"_ _0\"></span>s, are recogn<span class=\"_ _0\"></span>ised in the period in which <span class=\"_ _1\"></span>they are earned.<span class=\"ls1\"> </span>Lease mo<span class=\"ls234\">difications <span class=\"_ _1\"></span>are defined as a <span class=\"_ _1\"></span>change in the scope </span>of a lease, <span class=\"_ _1\"></span>or the consideration <span class=\"_ _1\"></span>of a lease, that <span class=\"_ _1\"></span>was not part of the or<span class=\"_ _1\"></span>iginal terms and con<span class=\"_ _1\"></span>ditions of the l<span class=\"_ _1\"></span>ease. Modifica<span class=\"_ _1\"></span>tions to<span class=\"_ _1\"></span> operatin<span class=\"_ _1\"></span>g leases <span class=\"_ _1\"></span>the Group <span class=\"_ _1\"></span>holds as <span class=\"_ _1\"></span>a lessor are a<span class=\"_ _0\"></span>ccounted fo<span class=\"_ _0\"></span>r from the e<span class=\"_ _0\"></span>ffe<span class=\"ls226\">ctive date of the </span>modifi<span class=\"_ _1\"></span>cation.<span class=\"_ _1\"></span> Modific<span class=\"_ _1\"></span>ations <span class=\"_ _1\"></span>take i<span class=\"_ _1\"></span>nto acco<span class=\"_ _1\"></span>unt any <span class=\"_ _1\"></span>prepaid or accrued lease <span class=\"_ _1\"></span>payments relating to t<span class=\"_ _1\"></span>he original lease<span class=\"_ _1\"></span> as part of the l<span class=\"_ _1\"></span>ease payments for the <span class=\"_ _1\"></span>new lease. The revi<span class=\"_ _1\"></span>sed remaining consideratio<span class=\"_ _0\"></span>n under the modified lease is the<span class=\"_ _0\"></span>n recog<span class=\"ls221\">nised in rental income on a <span class=\"_ _1\"></span>straight<span class=\"ls1\">-<span class=\"ls1fc\">line basis ov<span class=\"_ _0\"></span>er </span></span></span>the remaining lease term<span class=\"_ _0\"></span>.<span class=\"ls1\"> </span>Concessions <span class=\"_ _1\"></span>granted to tena<span class=\"_ _1\"></span>nts for operat<span class=\"_ _1\"></span>ing lease receivables where prior de<span class=\"_ _0\"></span>manded lease paym<span class=\"_ _0\"></span>ents have been reduced or waiv<span class=\"_ _1\"></span>ed for a specifie<span class=\"_ _1\"></span>d period are accounted for as an exp<span class=\"ls223\">ected credit <span class=\"_ _1\"></span>loss. Concessions </span>granted to tenant<span class=\"_ _1\"></span>s for future le<span class=\"_ _1\"></span>ase payments are accounted for as a lease modifi<span class=\"_ _1\"></span>cation. <span class=\"ls1\"> </span>Surrender premia for<span class=\"_ _1\"></span> the early terminat<span class=\"_ _1\"></span>ion of a lease are<span class=\"_ _1\"></span> recognised as revenu<span class=\"_ _0\"></span>e when the amounts<span class=\"_ _0\"></span> become contractually due, net of di<span class=\"_ _1\"></span>lapi<span class=\"ls234\">dations and non<span class=\"ls1\">-<span class=\"_ _216\"> </span></span></span>recoverable outgoing<span class=\"_ _0\"></span>s relating to the lease concerned<span class=\"_ _0\"></span>.<span class=\"ls1\"> </span>The Group applies t<span class=\"_ _1\"></span>he five<span class=\"ls1\">-<span class=\"ls224\">step</span>-<span class=\"ls233\">model as <span class=\"_ _1\"></span>require<span class=\"_ _1\"></span>d by IF<span class=\"_ _1\"></span>RS </span></span>15 \u2018Revenue from<span class=\"_ _0\"></span> Contracts with C<span class=\"_ _0\"></span>ustomers\u2019 in recog<span class=\"_ _0\"></span>nising its service c<span class=\"_ _0\"></span>harge incom<span class=\"_ _0\"></span>e, manage<span class=\"_ _0\"></span>ment and p<span class=\"_ _0\"></span>erformanc<span class=\"_ _0\"></span>e fees and procee<span class=\"_ _0\"></span>ds from the sale of tradin<span class=\"_ _0\"></span>g properties. Service charge i<span class=\"_ _1\"></span>ncome is recogn<span class=\"ls1fc\">ised as reven<span class=\"_ _0\"></span>ue in the </span>period to which <span class=\"_ _1\"></span>it relates.<span class=\"_ _216\"> </span>Management <span class=\"_ _1\"></span>fees are <span class=\"_ _1\"></span>recognised<span class=\"_ _1\"></span> as reven<span class=\"_ _1\"></span>ue in th<span class=\"_ _1\"></span>e period<span class=\"_ _216\"> </span>to which they relate and inc<span class=\"_ _0\"></span>lude the provision of asset<span class=\"_ _216\"> </span>ma<span class=\"ls221\">nagement, property management, development<span class=\"_ _216\"> </span></span>management<span class=\"_ _1\"></span> and admi<span class=\"_ _1\"></span>nistra<span class=\"_ _1\"></span>tion se<span class=\"_ _1\"></span>rvices <span class=\"_ _1\"></span>to joi<span class=\"_ _1\"></span>nt vent<span class=\"_ _1\"></span>ures.<span class=\"_ _216\"> </span>Performance fees ar<span class=\"_ _1\"></span>e recognised at the <span class=\"_ _1\"></span>end of the<span class=\"_ _216\"> </span>performance period when<span class=\"_ _1\"></span> the performance obliga<span class=\"_ _1\"></span>tions are<span class=\"_ _216\"> </span>met, t<span class=\"_ _1\"></span>he fee <span class=\"_ _1\"></span>amount ca<span class=\"_ _1\"></span>n be est<span class=\"_ _1\"></span>imated <span class=\"_ _1\"></span>reliabl<span class=\"_ _1\"></span>y and<span class=\"ls1\"> <span class=\"ls1fc\">it is<span class=\"_ _216\"> </span></span></span>highly probable that t<span class=\"_ _1\"></span>he fee will be received.<span class=\"_ _1\"></span> Performance<span class=\"_ _216\"> </span>fees are based o<span class=\"_ _0\"></span>n property valuations<span class=\"_ _0\"></span> compared to<span class=\"_ _216\"> </span>external benchmarks at the end of<span class=\"_ _1\"></span> the reporting period. Proceeds from the s<span class=\"_ _1\"></span>ale of trading pr<span class=\"_ _1\"></span>operties are recognis<span class=\"_ _1\"></span>ed<span class=\"_ _216\"> </span>when cont<span class=\"_ _1\"></span>rol has b<span class=\"_ _1\"></span>een t<span class=\"ls211\">ransferred to the purchaser. This<span class=\"_ _216\"> </span></span>generally occurs<span class=\"_ _1\"></span> on completion. Proceeds <span class=\"_ _1\"></span>from the sale of<span class=\"_ _216\"> </span>trading properties are recog<span class=\"_ _0\"></span>nised as revenue in the Cap<span class=\"_ _0\"></span>ital<span class=\"_ _216\"> </span>and other column of the income statement. All other<span class=\"_ _1\"></span> revenue des<span class=\"_ _1\"></span>cribed above <span class=\"_ _1\"></span>is recogni<span class=\"_ _1\"></span>sed in the<span class=\"_ _216\"> </span>Underl<span class=\"ls223\">ying column of <span class=\"_ _1\"></span>the income statement, except where<span class=\"_ _216\"> </span></span>revenue items are dee<span class=\"_ _0\"></span>med to be unusual or sign<span class=\"_ _0\"></span>ificant by<span class=\"_ _216\"> </span>virtue of their <span class=\"_ _1\"></span>size or nature, where they are <span class=\"_ _1\"></span>recognised<span class=\"_ _216\"> </span>through the Capital and<span class=\"_ _0\"></span> other column. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-423": {
   "value": "<div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs155\">Taxation<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs89\">Current tax<span class=\"_ _1\"></span> is based on <span class=\"_ _1\"></span>taxable profi<span class=\"_ _1\"></span>t for <span class=\"ls222\">the year and </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs156\">is<span class=\"ls1\"> <span class=\"ls226\">calculated using tax rates that have <span class=\"_ _1\"></span>been enacted or </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs157\">substantively enacted at the balance sheet date. Taxable </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs158\">profit diff<span class=\"_ _1\"></span>ers from profit bef<span class=\"_ _1\"></span>ore taxation<span class=\"ls1\"> <span class=\"ls225\">as reported in t<span class=\"_ _1\"></span>he </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs159\">income st<span class=\"_ _0\"></span>atement be<span class=\"_ _0\"></span>cause it exclu<span class=\"_ _0\"></span>des items o<span class=\"_ _0\"></span>f income or </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs15a\">expense that<span class=\"ls1\"> <span class=\"ls225\">are not taxable (or tax <span class=\"_ _1\"></span>deductible).<span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs15b\">Deferred t<span class=\"_ _1\"></span>ax is provi<span class=\"_ _1\"></span>ded on items <span class=\"_ _1\"></span>that may beco<span class=\"_ _1\"></span>me </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs15c\">taxable in the future, or which<span class=\"_ _0\"></span> may be used to offset </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs15d\">against taxable profits <span class=\"_ _1\"></span>in the future, on the temporary </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs15e\">differences bet<span class=\"_ _1\"></span>ween the carrying amounts <span class=\"_ _1\"></span>of assets and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs15f\">lia<span class=\"ls234\">bilities f<span class=\"_ _1\"></span>or financial repor<span class=\"_ _1\"></span>ting purposes, and <span class=\"_ _1\"></span>the amounts </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs160\">used for taxation pur<span class=\"_ _1\"></span>poses on an undiscounted basis. </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls248 ws1 gs161\">On<span class=\"ls1\"> <span class=\"ls234\">business combinati<span class=\"_ _1\"></span>ons, the deferred t<span class=\"_ _1\"></span>ax effect of fai<span class=\"_ _1\"></span>r </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs162\">value adjustments is i<span class=\"_ _1\"></span>ncorporated in the consolidated </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs163\">balance sheet.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs98\">Deferred t<span class=\"_ _1\"></span>ax asse<span class=\"ls222\">ts and liabilities are netted off against </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs99\">each other in the consoli<span class=\"_ _1\"></span>dated balance sheet when they </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs9a\">relate to income taxes levied<span class=\"_ _0\"></span> by the same tax authority </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs9b\">on<span class=\"ls1\"> <span class=\"ls234\">different taxabl<span class=\"_ _1\"></span>e entities which <span class=\"_ _1\"></span>intend to <span class=\"ls224\">settle<span class=\"ls1\"> <span class=\"ls226\">current </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs9c\">tax assets and liabilities on a net basis.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-449": {
   "value": "Deferred t<span class=\"_ _1\"></span>ax is provi<span class=\"_ _1\"></span>ded on items <span class=\"_ _1\"></span>that may beco<span class=\"_ _1\"></span>me taxable in the future, or which<span class=\"_ _0\"></span> may be used to offset against taxable profits <span class=\"_ _1\"></span>in the future, on the temporary differences bet<span class=\"_ _1\"></span>ween the carrying amounts <span class=\"_ _1\"></span>of assets and lia<span class=\"ls234\">bilities f<span class=\"_ _1\"></span>or financial repor<span class=\"_ _1\"></span>ting purposes, and <span class=\"_ _1\"></span>the amounts </span>used for taxation pur<span class=\"_ _1\"></span>poses on an undiscounted basis. On<span class=\"ls1\"> <span class=\"ls234\">business combinati<span class=\"_ _1\"></span>ons, the deferred t<span class=\"_ _1\"></span>ax effect of fai<span class=\"_ _1\"></span>r </span></span>value adjustments is i<span class=\"_ _1\"></span>ncorporated in the consolidated balance sheet.<span class=\"ls1\"> </span>Deferred t<span class=\"_ _1\"></span>ax asse<span class=\"ls222\">ts and liabilities are netted off against </span>each other in the consoli<span class=\"_ _1\"></span>dated balance sheet when they relate to income taxes levied<span class=\"_ _0\"></span> by the same tax authority on<span class=\"ls1\"> <span class=\"ls234\">different taxabl<span class=\"_ _1\"></span>e entities which <span class=\"_ _1\"></span>intend to <span class=\"ls224\">settle<span class=\"ls1\"> <span class=\"ls226\">current </span></span></span></span></span>tax assets and liabilities on a net basis.<span class=\"_ _216\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-424": {
   "value": "<div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs165\">Employee costs<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs166\">The fair value <span class=\"_ _1\"></span>of equity<span class=\"ls1\">-<span class=\"ls24d\">settled share</span>-<span class=\"ls22c\">based <span class=\"_ _1\"></span>payments </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs167\">to<span class=\"ls1\"> <span class=\"ls23b\">employees is determined at t<span class=\"_ _1\"></span>he date of grant and is </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23b ws1 gs168\">expensed on a straight<span class=\"ls1\">-<span class=\"ls229\">line basis over the ve<span class=\"_ _0\"></span>sting period, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22c ws1 gs169\">based on the Group\u2019<span class=\"_ _1\"></span>s estimate of shares<span class=\"_ _1\"></span> or options that wi<span class=\"_ _1\"></span>ll </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23b ws1 gs16a\">eventually <span class=\"lsf2\">vest. For al<span class=\"_ _1\"></span>l schemes except the Group\u2019s Long<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs16b\">Term Incentive Pla<span class=\"_ _1\"></span>n and Save As You Earn schemes, <span class=\"_ _1\"></span>the fair </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 lsf2 ws1 gs16c\">value of awards are<span class=\"ls1\"> <span class=\"ls23b\">equal <span class=\"_ _1\"></span>to the market value at grant date.<span class=\"_ _1\"></span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24e ws1 gs16d\">For options and per<span class=\"_ _1\"></span>formance shares granted <span class=\"_ _1\"></span>under the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls238 ws1 gs16e\">Long<span class=\"ls1\"> <span class=\"ls20f\">Term Incentive <span class=\"_ _1\"></span>Plan, the fair <span class=\"_ _1\"></span>values are determined</span></span><span class=\"ls1\"><span class=\"ls20f\"> </span></span></div>by<span class=\"ls1\"> <span class=\"ls213\">Monte <span class=\"_ _1\"></span>Carlo and <span class=\"_ _1\"></span>Black<span class=\"ls1\">-<span class=\"ls228\">Scholes <span class=\"_ _1\"></span>models. A Black<span class=\"ls1\">-</span>Scholes </span></span></span></span>model i<span class=\"_ _1\"></span>s used <span class=\"_ _1\"></span>fo<span class=\"ls211\">r the Save As You Earn sc<span class=\"_ _0\"></span>hemes.<span class=\"ls1\"> </span></span>Defined bene<span class=\"_ _1\"></span>fit pension<span class=\"_ _1\"></span> scheme assets<span class=\"_ _1\"></span> are measured <span class=\"_ _1\"></span>using fair values. Pension sc<span class=\"_ _0\"></span>heme liabilities are mea<span class=\"_ _0\"></span>sured using the projected unit <span class=\"_ _1\"></span>credit method and discou<span class=\"_ _1\"></span>nted at the rate of<span class=\"_ _1\"></span> return of a high quality corpo<span class=\"_ _0\"></span>rate bond of equivalent term<span class=\"_ _0\"></span> to the scheme lia<span class=\"ls252\">bilities. The net <span class=\"_ _1\"></span>surplus (where recover<span class=\"_ _1\"></span>able by </span>the Group) or deficit is recogn<span class=\"_ _0\"></span>ised in full in the consolidated balance sheet. <span class=\"_ _1\"></span>Any asset resulting <span class=\"_ _1\"></span>from the calculati<span class=\"_ _1\"></span>on is limited to th<span class=\"_ _0\"></span>e present va<span class=\"_ _0\"></span>lue of availab<span class=\"_ _0\"></span>le refunds an<span class=\"_ _0\"></span>d reductions in future contrib<span class=\"_ _0\"></span>uti<span class=\"ls255\">ons to the pl<span class=\"_ _1\"></span>an. The current </span>service cost and gains and losses on settlement and curtailments are <span class=\"ls253\">recogni<span class=\"ls1\">s<span class=\"ls258\">ed i<span class=\"_ _1\"></span>n the Underlying column of the </span></span></span>income st<span class=\"_ _0\"></span>atement<span class=\"ls1\">. <span class=\"ls259\">Actua<span class=\"_ _1\"></span>rial gains<span class=\"_ _1\"></span> and losses <span class=\"_ _1\"></span>are recogni<span class=\"_ _1\"></span>sed </span></span>in full in the pe<span class=\"_ _0\"></span>riod in which<span class=\"_ _0\"></span> they occur a<span class=\"_ _0\"></span>nd are pres<span class=\"_ _0\"></span>e<span class=\"ls25a\">nted in </span>the consolidated statem<span class=\"_ _0\"></span>ent of comprehensive<span class=\"_ _0\"></span> income. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-425": {
   "value": "Critical a<span class=\"_ _0\"></span>ccounting judgements<span class=\"_ _0\"></span> and key sources<span class=\"_ _0\"></span> of estimation uncertai<span class=\"_ _0\"></span>nty<span class=\"ls1\"> </span>In applying th<span class=\"_ _0\"></span>e Group\u2019s acco<span class=\"_ _0\"></span>unting policie<span class=\"_ _0\"></span>s, the Directors are required to make critical<span class=\"_ _1\"></span> accounting judgements and assess <span class=\"ls226\">key sources of estimation uncert<span class=\"_ _1\"></span>ainty that affect </span>the financial statements. <span class=\"ls1\"> </span>Key sources of<span class=\"_ _1\"></span> estimation unc<span class=\"_ _1\"></span>ertainty<span class=\"ls1\"> </span>Valuation <span class=\"_ _1\"></span>of investment<span class=\"ls1\"> <span class=\"ls225\">and</span> <span class=\"ls234\">development</span> <span class=\"ls234\">properti<span class=\"_ _1\"></span>es <span class=\"ls225\">and </span></span></span>the <span class=\"ls221\">net reali<span class=\"ls1\">s<span class=\"ls225\">able value <span class=\"ls220\">of </span></span></span></span>trading properties: The Group uses external professi<span class=\"_ _1\"></span>onal v<span class=\"ls225\">aluers to determine the </span>relevant amounts. Th<span class=\"_ _0\"></span>e primary source of evidenc<span class=\"_ _0\"></span>e for property valuati<span class=\"_ _1\"></span>ons should be recent,<span class=\"_ _1\"></span> comparable market transactions on an arm<span class=\"_ _0\"></span>\u2019s length basis. However, the valuation of the Group\u2019s <span class=\"_ _1\"></span>property portfolio is inherent<span class=\"_ _1\"></span>ly subjective, as it is based upon valuer assumptions and estimations that form part <span class=\"_ _1\"></span>of the key unobservable inputs of the valuati<span class=\"_ _1\"></span>on, which may prove to be <span class=\"_ _1\"></span>inaccurate. Further detail<span class=\"_ _1\"></span>s on the valuers\u2019<span class=\"_ _1\"></span> assumptions, estimates<span class=\"_ _1\"></span> and associated key unobservable inputs and <span class=\"ls224\">sensi<span class=\"_ _1\"></span>t<span class=\"ls1fc\">ivity </span></span>disclosures, <span class=\"_ _1\"></span>have been provided in <span class=\"_ _1\"></span>Note 10.<span class=\"ls1\"> <span class=\"ls1ec\">Additional<span class=\"_ _1\"></span>ly, </span></span>the Group\u2019s <span class=\"ls1\">i<span class=\"ls221\">nvestment in joint ventures</span> <span class=\"ls226\">can be</span> <span class=\"ls233\">mater<span class=\"_ _1\"></span>ially </span></span>impacted<span class=\"_ _0\"></span> by the<span class=\"ls1\"> </span>joint<span class=\"_ _0\"></span> venture pro<span class=\"_ _0\"></span>perty portfo<span class=\"_ _0\"></span>lio<span class=\"ls235\">, <span class=\"ls225\">and as </span></span>such sensitivity disclosures o<span class=\"ls1\">f <span class=\"ls222\">the joint venture property<span class=\"_ _0\"></span> </span></span>portfolio have <span class=\"_ _1\"></span>been provided in Note 1<span class=\"_ _1\"></span>0.<span class=\"ls1\"> </span>Other sou<span class=\"_ _1\"></span>rces of e<span class=\"_ _1\"></span>stimation <span class=\"_ _1\"></span>uncertaint<span class=\"_ _1\"></span>y that wo<span class=\"_ _1\"></span>uld not result in a material movem<span class=\"_ _0\"></span>ent in the carrying amoun<span class=\"_ _0\"></span>t in the next financial year include th<span class=\"_ _0\"></span>e valuation of interest rate derivatives, <span class=\"_ _1\"></span><span class=\"ls222\">the determinatio<span class=\"_ _0\"></span>n of share<span class=\"ls1\">-<span class=\"ls234\">based payments, </span></span></span>the actuarial assumption<span class=\"_ _0\"></span>s used in calculating the Group<span class=\"_ _0\"></span>\u2019s retirement benefit obligation<span class=\"_ _0\"></span>s, the fair value of pension scheme assets and taxation provisions.<span class=\"ls1\"> </span>Critical <span class=\"_ _1\"></span>accounting judgement<span class=\"_ _1\"></span>s <span class=\"ls1\"> </span>The Directors do not<span class=\"_ _1\"></span> consi<span class=\"ls22c\">der there to <span class=\"_ _1\"></span>be any critical </span>accounting judgements in<span class=\"ls1\"> <span class=\"ls211\">the preparation of the Group\u2019s </span></span>financial stateme<span class=\"_ _0\"></span>nts. The following item<span class=\"_ _0\"></span>s are ongoing area<span class=\"_ _0\"></span>s of accounting judgement,<span class=\"_ _1\"></span> however, the Director<span class=\"_ _1\"></span>s do not consider these<span class=\"ls1\"> <span class=\"lsf2\">accounting judgements t<span class=\"_ _1\"></span>o be critical and </span></span>materi<span class=\"_ _1\"></span>al accou<span class=\"_ _1\"></span>nting j<span class=\"_ _1\"></span>udgement <span class=\"_ _1\"></span>has not <span class=\"_ _1\"></span>been re<span class=\"_ _1\"></span>quired f<span class=\"_ _1\"></span>or any of these items in the <span class=\"_ _1\"></span>current financial year.<span class=\"_ _216\"> </span><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls25e ws1 gs1a8\">REIT status:<span class=\"_ _1\"></span> British L<span class=\"_ _1\"></span>and is a Real<span class=\"_ _1\"></span> Estate Invest<span class=\"_ _1\"></span>ment<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20f ws1 gs1a9\">Trust<span class=\"ls1\"> <span class=\"ls25f\">(REIT) and does not pay tax on its <span class=\"ls211\">tax adjusted<span class=\"_ _216\"> </span></span></span></span><span class=\"ls1\"><span class=\"ls25f\"><span class=\"ls211\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22c ws1 gs1aa\">property income or<span class=\"ls1\"> <span class=\"_ _1\"></span><span class=\"ls22c\">gains on <span class=\"ls229\">investment </span>property sales,<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls22c\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22c ws1 gs1ab\">provided that at<span class=\"_ _1\"></span> least 90% of the Gr<span class=\"_ _1\"></span>oup\u2019s <span class=\"ls211\">tax adjusted<span class=\"_ _216\"> </span></span><span class=\"ls211\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22c ws1 gs1ac\">property income is<span class=\"_ _1\"></span> distributed as a<span class=\"_ _1\"></span> dividend to<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24d ws1 gs1ad\">shareholders, which becomes taxable in their hands<span class=\"ls22a\">. In<span class=\"_ _216\"> </span></span><span class=\"ls22a\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 lsf2 ws1 gs1ae\">addition, the Group has to meet cer<span class=\"_ _1\"></span>tain conditions such as<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23b ws1 gs1af\">ensuring the property rental<span class=\"_ _1\"></span> business represents more than<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls239 ws1 gs1b0\">75% of total profits <span class=\"_ _1\"></span>and assets. Any potential or pr<span class=\"_ _1\"></span>oposed<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls23d ws1 gs1b1\">changes to the REIT legislation <span class=\"_ _1\"></span>are monitored and<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22c ws1 gs1b2\">discussed with HMRC. <span class=\"_ _1\"></span>It <span class=\"ls229\">is managem<span class=\"_ _0\"></span>ent\u2019s intentio<span class=\"_ _0\"></span>n that the<span class=\"_ _216\"> </span></span><span class=\"ls229\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22d ws1 gs1b3\">Group will<span class=\"_ _1\"></span> continue a<span class=\"_ _1\"></span>s a REIT fo<span class=\"_ _1\"></span>r the fore<span class=\"_ _1\"></span>seeable futur<span class=\"_ _1\"></span>e.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls259 ws1 gs1b4\">Accounting <span class=\"_ _1\"></span>for joint<span class=\"_ _1\"></span> ventures: <span class=\"_ _1\"></span>In accordanc<span class=\"_ _1\"></span>e with IFRS <span class=\"_ _1\"></span>10<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls260 ws1 gs1b5\">\u2018Consolida<span class=\"_ _0\"></span>ted Financia<span class=\"_ _0\"></span>l Statemen<span class=\"_ _0\"></span>ts\u2019, IFRS 11 \u2018Jo<span class=\"_ _0\"></span>int<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls259 ws1 gs1b6\">Arrangements\u2019<span class=\"_ _1\"></span> and IFRS 1<span class=\"_ _1\"></span>2 \u2018Disclos<span class=\"_ _1\"></span>ure of Int<span class=\"_ _1\"></span>erests in<span class=\"ls1\"> <span class=\"_ _d\"></span><span class=\"ls261\">Other<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls261\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls262 ws1 gs1b7\">Entities\u2019,<span class=\"_ _1\"></span> an assessment is <span class=\"_ _1\"></span>required to determine<span class=\"_ _1\"></span> the degree<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls255 ws1 gs1b8\">of control or <span class=\"_ _1\"></span>influence the Group exerc<span class=\"_ _1\"></span>ises and the form of<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls263 ws1 gs1b9\">any control to ensure that t<span class=\"_ _1\"></span>he financial statement treatment<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls254 ws1 gs1ba\">is appropr<span class=\"_ _0\"></span>iate. The asse<span class=\"_ _0\"></span>ssment und<span class=\"_ _0\"></span>ertaken by<span class=\"_ _0\"></span> managem<span class=\"_ _0\"></span>ent<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls254 ws1 gs1bb\">includes co<span class=\"_ _0\"></span><span class=\"ls25a\">nsideration of t<span class=\"_ _1\"></span>he structure, legal f<span class=\"_ _1\"></span>orm,<span class=\"_ _216\"> </span></span><span class=\"ls25a\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls257 ws1 gs1bc\">contractual terms and other facts and ci<span class=\"_ _1\"></span>rcumstances relating<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls253 ws1 gs1bd\">to the relevant entity. This assessm<span class=\"_ _0\"></span>ent is updated annually<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls263 ws1 gs1be\">and there have been no changes in the <span class=\"_ _1\"></span>judgement reached in<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls253 ws1 gs1bf\">relation to the degree of con<span class=\"_ _0\"></span>trol the Group exercises within<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls253 ws1 gs1c0\">the current or prior year. An a<span class=\"_ _0\"></span>ssessment was perform<span class=\"_ _0\"></span>ed for<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls253 ws1 gs1c1\">the<span class=\"ls1\"> <span class=\"ls264\">2 Finsbury Avenue <span class=\"ls254\">joint venture</span></span> </span>transaction <span class=\"ls265\">within <span class=\"_ _1\"></span>the<span class=\"_ _216\"> </span></span><span class=\"ls265\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls266 ws1 gs1c2\">Broadgate joi<span class=\"_ _1\"></span>nt venture <span class=\"ls253\">that occurred in the <span class=\"ls252\">prior <span class=\"ls258\">year<span class=\"ls1\"> <span class=\"_ _1\"></span><span class=\"ls267\">(see<span class=\"_ _216\"> </span></span></span></span></span></span><span class=\"ls253\"><span class=\"ls252\"><span class=\"ls258\"><span class=\"ls1\"><span class=\"ls267\"> </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls259 ws1 gs1c3\">Note 11)<span class=\"ls260\">. </span>As<span class=\"_ _1\"></span> previously <span class=\"_ _1\"></span>disclosed,<span class=\"_ _1\"></span> n<span class=\"ls1\">o <span class=\"_ _1\"></span>c<span class=\"ls253\">ritical accounting<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls253\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls254 ws1 gs1c4\">judgeme<span class=\"_ _0\"></span>nt was identif<span class=\"_ _0\"></span>ied<span class=\"ls1\"> </span>in the assessme<span class=\"_ _0\"></span>nt.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1e9 ws1 gs1c5\">Joint ventures are accounted for under the <span class=\"_ _1\"></span>equity method,<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs1c6\">whereby t<span class=\"_ _1\"></span>he consoli<span class=\"_ _1\"></span>dated balan<span class=\"_ _1\"></span>ce sheet <span class=\"_ _1\"></span>incorporate<span class=\"_ _1\"></span>s the<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs1c7\">Group\u2019s sh<span class=\"_ _1\"></span>are of the <span class=\"_ _1\"></span>net assets <span class=\"_ _1\"></span>of its j<span class=\"_ _1\"></span>oint ventur<span class=\"_ _1\"></span>es. The<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs1c8\">consolidated income statement incorporates the Group\u2019s<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs1c9\">share of joint venture<span class=\"ls1\">s <span class=\"ls234\">profits after <span class=\"_ _1\"></span>tax.<span class=\"ls1\"> <span class=\"ls220\">The Group\u2019s share<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"><span class=\"ls234\"><span class=\"ls1\"><span class=\"ls220\"> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs1ca\">of joint ventur<span class=\"_ _1\"></span>es results and net <span class=\"_ _1\"></span>assets are disclos<span class=\"_ _1\"></span>ed in<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs1cb\">Note 11 <span class=\"_ _1\"></span>to the fi<span class=\"_ _1\"></span>nancial st<span class=\"_ _1\"></span>atements.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs1cc\">Accounting <span class=\"_ _1\"></span>for trans<span class=\"_ _1\"></span>actions: Pr<span class=\"_ _1\"></span>operty tra<span class=\"_ _1\"></span>nsac<span class=\"ls222\">tions are<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs1cd\">complex in nature and can be material to <span class=\"_ _1\"></span>the financial<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs1ce\">statements. Judgements made in relation to transactions<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs1cf\">include wh<span class=\"_ _0\"></span>ether an acq<span class=\"_ _0\"></span>uisition is a bu<span class=\"_ _0\"></span>siness com<span class=\"_ _0\"></span>bination<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs1d0\">or an asset; <span class=\"_ _1\"></span>whether held<span class=\"ls1\"> <span class=\"ls231\">for</span> <span class=\"ls224\">sale criteria have been met<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls224\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs1d1\">for transactions not<span class=\"ls1\"> <span class=\"_ _0\"></span><span class=\"ls223\">yet completed; accounting for<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls223\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs1d2\">transaction costs and co<span class=\"_ _0\"></span>ntingent consideration; and<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs1d3\">application of the concept of <span class=\"_ _1\"></span>linked accounting.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls230 ws1 gs1d4\">Management <span class=\"_ _1\"></span>consider<span class=\"ls1\">s <span class=\"ls223\">each transacti<span class=\"_ _1\"></span>on separately in<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls223\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs1d5\">order to determine <span class=\"_ _1\"></span>the most appropriate account<span class=\"_ _1\"></span>ing<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs1d6\">treatment, and, when<span class=\"_ _0\"></span> <span class=\"ls226\">considered necessary, seek<span class=\"ls1\">s<span class=\"_ _216\"> </span></span></span><span class=\"ls226\"><span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs1d7\">independ<span class=\"_ _0\"></span>ent advice. <span class=\"ls1\">M<span class=\"_ _0\"></span><span class=\"ls225\">anagement considered the<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls225\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs1d8\">accounting of the <span class=\"ls230\">Meadowh<span class=\"_ _1\"></span>all Shoppi<span class=\"_ _1\"></span>ng Centre <span class=\"_ _1\"></span>joint<span class=\"_ _216\"> </span></span><span class=\"ls230\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs1d9\">venture disposal <span class=\"ls225\">and the <span class=\"ls268\">2 Fi<span class=\"_ _1\"></span>nsbury Avenue joint venture<span class=\"_ _216\"> </span></span></span><span class=\"ls225\"><span class=\"ls268\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs1da\">transaction within the Bro<span class=\"_ _0\"></span>adgate joint venture<span class=\"ls235\">, both<span class=\"_ _0\"></span> <span class=\"ls220\">of<span class=\"_ _216\"> </span></span></span><span class=\"ls235\"><span class=\"ls220\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs1db\">which occ<span class=\"_ _1\"></span>u<span class=\"ls1\">r<span class=\"ls222\">red</span> <span class=\"ls1fc\">in <span class=\"ls222\">the <span class=\"ls234\">prior</span></span></span> <span class=\"ls223\">year</span> <span class=\"ls243\">(see No<span class=\"_ _0\"></span>te 11).</span></span><span class=\"ls1\"><span class=\"fc13\"> </span></span></div>Consideration <span class=\"_ _0\"></span>of climate chan<span class=\"_ _0\"></span>ge <span class=\"ls1\"> </span>In preparing<span class=\"_ _0\"></span> the financial st<span class=\"_ _0\"></span>atements, the<span class=\"_ _0\"></span> impact of clim<span class=\"_ _0\"></span>ate change has been considered, particularl<span class=\"_ _1\"></span>y in the context of the Task Force on Clim<span class=\"_ _0\"></span>ate<span class=\"ls1\">-</span>related Financial Disclosures (TCFD) included<span class=\"ls1\"> <span class=\"ls212\">within the<span class=\"_ _1\"></span> Sustainab<span class=\"_ _1\"></span>ility s<span class=\"_ _1\"></span>ection of<span class=\"_ _1\"></span> the </span></span>Strategic Report.<span class=\"_ _1\"></span> Whilst noting the Gr<span class=\"_ _1\"></span>oup\u2019s commitment to sustainability, there has not been a material impact on the financial reporting<span class=\"_ _0\"></span> judgements and<span class=\"_ _0\"></span> estimates arising from<span class=\"_ _0\"></span> our considerations<span class=\"_ _1\"></span>, which include phys<span class=\"ls229\">ical climate and </span>transitional risk assessments co<span class=\"_ _0\"></span>nducted by the Grou<span class=\"_ _0\"></span>p. This<span class=\"ls1\"> <span class=\"ls229\">is consistent with<span class=\"_ _0\"></span> our assessm<span class=\"_ _0\"></span>ent that clim<span class=\"_ _0\"></span>ate change<span class=\"_ _0\"></span> </span></span>is not expe<span class=\"_ _0\"></span>cted to have<span class=\"_ _0\"></span> a<span class=\"ls1\"> <span class=\"ls24f\">mater<span class=\"_ _1\"></span>ial impa<span class=\"_ _1\"></span>ct on t<span class=\"_ _1\"></span>he cash<span class=\"_ _1\"></span> flows </span></span>of the Group, i<span class=\"_ _1\"></span>ncluding those included <span class=\"_ _1\"></span>within the going concern and viability assessments i<span class=\"_ _1\"></span>n the medium term. Notwithsta<span class=\"_ _1\"></span>nding this,<span class=\"_ _1\"></span> the foll<span class=\"_ _1\"></span>owing should<span class=\"_ _1\"></span> be noted, <span class=\"_ _1\"></span>which is relevant to<span class=\"_ _0\"></span> understan<span class=\"_ _0\"></span>ding the imp<span class=\"_ _0\"></span>act of climat<span class=\"_ _0\"></span>e change on the financial<span class=\"_ _1\"></span> statements:<span class=\"ls1\"> </span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls1ec\">As part of <span class=\"_ _1\"></span>the Group\u2019s <span class=\"_ _1\"></span>2030 Sustain<span class=\"_ _1\"></span>ability St<span class=\"_ _1\"></span>rategy, </span></span>the<span class=\"ls1\"> <span class=\"ls20d\">Group\u2019s Trans<span class=\"_ _1\"></span>ition Vehic<span class=\"_ _1\"></span>le applies <span class=\"_ _1\"></span>an internal<span class=\"_ _1\"></span> levy </span></span>of \u00a390 <span class=\"ls234\">per tonne t<span class=\"_ _1\"></span>o the embodied carbon with<span class=\"_ _1\"></span>in </span>developments. Two<span class=\"ls1\">-<span class=\"ls222\">thirds of the internal levy is </span></span>available to finance car<span class=\"_ _1\"></span>bon efficient interventions which i<span class=\"_ _1\"></span>mprove energy<span class=\"_ _1\"></span> efficie<span class=\"_ _1\"></span>ncy and re<span class=\"_ _1\"></span>duce carbon emiss<span class=\"ls1fc\">ions from o<span class=\"_ _0\"></span>ur standing p<span class=\"_ _0\"></span>ortfolio. The<span class=\"_ _0\"></span> remaining </span>third is used to purchase ca<span class=\"_ _0\"></span>rbon credits to mitigate the residual embodied<span class=\"_ _0\"></span> carbon in our developm<span class=\"_ _0\"></span>ents. The Group committed \u00a32m<span class=\"ls1\"> <span class=\"ls222\">to carbon efficient </span></span>interventio<span class=\"_ _0\"></span>ns in the year<span class=\"_ _0\"></span> to 31<span class=\"ls1\"> <span class=\"ls230\">March 202</span>6 <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span></span>\u00a31<span class=\"ls233\">m). Th<span class=\"ls223\">e Group spent <span class=\"ls220\">\u00a31<span class=\"_ _1\"></span>m<span class=\"ls1\"> <span class=\"ls243\">(202</span>4<span class=\"_ _0\"></span><span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>3<span class=\"ls233\">m) in the<span class=\"_ _1\"></span> </span></span></span></span></span>year to 31 March 202<span class=\"ls1\">6 <span class=\"ls220\">on carbon effi<span class=\"_ _1\"></span>cient </span></span>interventio<span class=\"_ _0\"></span>ns, of which <span class=\"ls220\">\u00a31m (2024/25: \u00a32m)<span class=\"ls1\"> </span></span>is recoverable through<span class=\"_ _0\"></span> the<span class=\"ls1\"> <span class=\"ls224\">service charge.</span> </span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls20f\">The Group has purchased and reti<span class=\"_ _1\"></span>red carbon credits </span></span>in<span class=\"ls1\"> <span class=\"ls211\">the year to offset the residual em<span class=\"ls22c\">bodied carbon </span></span></span>in<span class=\"ls1\"> <span class=\"ls22c\">developments. Thi<span class=\"_ _1\"></span>s is the embodied carbon<span class=\"_ _1\"></span> that </span></span>remains once we h<span class=\"_ _0\"></span>ave done everything eco<span class=\"_ _0\"></span>nomically and practically viable <span class=\"_ _1\"></span>to reduce embodied carbon through material reuse<span class=\"_ _0\"></span>, design efficiency and materials specification. The cost of purchasing<span class=\"ls1\"> <span class=\"ls211\">these credits was </span></span>capitalised as part of <span class=\"_ _1\"></span>the cost of the development. The cost of purchasing these credits <span class=\"_ _1\"></span>was \u00a31m for the year ended 31 March 2026 (2024/25:<span class=\"ls1\"> <span class=\"ls228\">\u00a31m).</span> </span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls1ec\">As part of <span class=\"_ _1\"></span>the valuati<span class=\"_ _1\"></span>on process,<span class=\"_ _1\"></span> the Group <span class=\"_ _1\"></span>has </span></span>discussed the i<span class=\"_ _1\"></span>mpact of sustainabil<span class=\"_ _1\"></span>ity and Environmental, Soc<span class=\"_ _1\"></span>ial and Governance <span class=\"ls243\">(ESG) <span class=\"ls231\">factors </span></span>with th<span class=\"_ _1\"></span>e external<span class=\"_ _1\"></span> valuers <span class=\"_ _1\"></span>who value <span class=\"_ _1\"></span>the inve<span class=\"_ _1\"></span><span class=\"ls224\">stment </span>and development properties of the Group. <span class=\"_ _1\"></span>The physical cli<span class=\"_ _1\"></span>mate and transitional<span class=\"_ _1\"></span> risk analysis<span class=\"_ _1\"></span> conducted by the<span class=\"ls1\"> <span class=\"ls20d\">Group has b<span class=\"_ _1\"></span>een shared wit<span class=\"_ _1\"></span>h, and </span></span>discussed with,<span class=\"_ _1\"></span> the valuers as par<span class=\"_ _1\"></span>t of the six<span class=\"ls1\">-<span class=\"ls233\">mont<span class=\"_ _1\"></span>hly </span></span>valuation process (see Note 1<span class=\"_ _1\"></span>0 for further details).<span class=\"ls1\"> <span class=\"ls1ec\">As </span></span>such, the<span class=\"ls1\"> <span class=\"ls1fc\">impact o<span class=\"_ _0\"></span>f sustainability<span class=\"_ _0\"></span> and <span class=\"ls24a\">ESG</span></span> <span class=\"ls231\">factors is </span></span>considered as part of<span class=\"ls1\"> <span class=\"ls222\">the valuation process, to the </span></span>extent possible market<span class=\"ls1\"> <span class=\"ls234\">partici<span class=\"_ _1\"></span>pants would, and is<span class=\"_ _1\"></span> </span></span>included w<span class=\"_ _0\"></span>ithin the<span class=\"ls1\"> <span class=\"ls234\">derived valuation as at t<span class=\"_ _1\"></span>he balance </span></span>sheet date. The<span class=\"ls1\"> <span class=\"ls20d\">Group ensures <span class=\"_ _1\"></span>that to t<span class=\"_ _1\"></span>h<span class=\"ls223\">e fullest </span></span></span>extent possible, the f<span class=\"_ _1\"></span>our valuers are materially consistent in their appli<span class=\"_ _1\"></span>cation of<span class=\"ls1\"> <span class=\"ls222\">the consideration </span></span>of<span class=\"ls1\"> <span class=\"ls222\">these factors on</span> <span class=\"ls222\">the p<span class=\"_ _0\"></span>roperty valuations</span>.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-450": {
   "value": "Key sources of estimation uncertainty Valuation of investment and development properties and the net realisable value of trading properties: The Group uses external professional valuers to determine the relevant amounts. The primary source of evidence for property valuations should be recent, comparable market transactions on an arm\u2019s length basis. However, the valuation of the Group\u2019s property portfolio is inherently subjective, as it is based upon valuer assumptions and estimations that form part of the key unobservable inputs of the valuation, which may prove to be inaccurate. Further details on the valuers\u2019 assumptions, estimates and associated key unobservable inputs and sensitivity disclosures, have been provided in Note 10. Additionally, the Group\u2019s investment in joint ventures can be materially impacted by the joint venture property portfolio, and as such sensitivity disclosures of the joint venture property portfolio have been provided in Note 10. Other sources of estimation uncertainty that would not result in a material movement in the carrying amount in the next financial year include the valuation of interest rate derivatives, the determination of share-based payments, the actuarial assumptions used in calculating the Group\u2019s retirement benefit obligations, the fair value of pension scheme assets and taxation provisions. ",
   "dimensions": {
    "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-426": {
   "value": "<div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs219\">Earnings per share<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs21a\">The Group measures financ<span class=\"_ _1\"></span>ial <span class=\"ls234\">performance with <span class=\"_ _1\"></span>reference to Underly<span class=\"_ _1\"></span>ing earnings per sha<span class=\"_ _1\"></span>re, EPRA earnings per <span class=\"_ _1\"></span>share </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs21b\">and IFRS earnings per share. The r<span class=\"_ _1\"></span>elevant earnings and weighted average number of shares <span class=\"_ _1\"></span>(including dilution </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs21c\">adjustments) for each performance measure are <span class=\"_ _1\"></span>shown below, and<span class=\"ls1\"> </span>a reconciliation between these is shown wit<span class=\"_ _1\"></span>hin the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs21d\">supplementary disclosures (Table B).<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24a ws1 gs21e\">EPRA earnings per <span class=\"_ _1\"></span>share is calcul<span class=\"_ _1\"></span>ated using EPRA earnings<span class=\"_ _1\"></span>, which is the <span class=\"_ _1\"></span>IFRS profit aft<span class=\"_ _1\"></span>er taxation attr<span class=\"_ _1\"></span>ibutable to </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs21f\">shareholders of the Company excluding investment and<span class=\"ls1\"> <span class=\"ls234\">development property revaluations,<span class=\"_ _1\"></span> gains/losses on i<span class=\"_ _1\"></span>nvestment </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs220\">and trading property disposals, <span class=\"_ _1\"></span>changes in the fair value of <span class=\"_ _1\"></span>financial instruments and associated <span class=\"_ _1\"></span>close<span class=\"ls1\">-<span class=\"ls220\">out costs, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs221\">adjustments relating to non<span class=\"ls1\">-<span class=\"ls220\">operati<span class=\"_ _1\"></span>ng and exceptional it<span class=\"_ _1\"></span>ems and their related <span class=\"ls222\">taxation. <span class=\"ls22e\">In the current year to 3<span class=\"_ _0\"></span>1 March </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls268 ws1 gs222\">2026, Capital administrati<span class=\"_ _1\"></span>ve expenses of \u00a33m, relating to s<span class=\"_ _1\"></span>oftware as a service <span class=\"ls1fc\">implementation <span class=\"ls226\">co<span class=\"_ _0\"></span>sts, were excluded in </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs223\">the calculation of EPRA<span class=\"_ _0\"></span> earnings<span class=\"ls1\"> <span class=\"ls225\">as a<span class=\"ls221\">n EPRA</span></span> <span class=\"ls221\">non</span>-<span class=\"ls220\">operating and exceptional <span class=\"_ _1\"></span>item<span class=\"ls1\"> <span class=\"ls225\">adjustment</span>. </span>Ther<span class=\"ls223\">e is no tax effect of </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs224\">this adjustment.<span class=\"ls1\"> <span class=\"ls1ec\">No adjustments wer<span class=\"_ _1\"></span>e made <span class=\"ls1fc\">in the prior yea<span class=\"_ _0\"></span>r <span class=\"ls222\">to 31 March 2025<span class=\"ls1\">. </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24c ws1 gs225\">Underlying <span class=\"_ _1\"></span>earnings per <span class=\"_ _1\"></span>share is ca<span class=\"_ _1\"></span>lculated usi<span class=\"_ _1\"></span>ng Underlying <span class=\"_ _1\"></span>Profit adj<span class=\"_ _1\"></span>usted for Unde<span class=\"_ _1\"></span>rlying taxat<span class=\"_ _1\"></span>ion (see Note<span class=\"_ _1\"></span> 7), with </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs226\">the dilutive measure being<span class=\"_ _0\"></span> the primary disclosure mea<span class=\"_ _0\"></span>sure used. Underlying Profit is the pre<span class=\"_ _0\"></span><span class=\"ls1\">-</span>tax EPRA earnings </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs227\">measure,<span class=\"_ _1\"></span> with <span class=\"_ _1\"></span>addition<span class=\"_ _1\"></span>al Compan<span class=\"_ _1\"></span>y adjust<span class=\"_ _1\"></span>ments f<span class=\"_ _1\"></span>or items<span class=\"_ _1\"></span> which <span class=\"_ _1\"></span>are cons<span class=\"_ _1\"></span>idered <span class=\"_ _1\"></span>to be un<span class=\"_ _1\"></span>usual an<span class=\"_ _1\"></span>d/or si<span class=\"_ _1\"></span>gnifica<span class=\"_ _1\"></span>nt by </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs228\">virtue of their <span class=\"_ _1\"></span>size and nature. <span class=\"ls1ec\">No Company <span class=\"_ _1\"></span>adjustments <span class=\"_ _1\"></span>were made in <span class=\"_ _1\"></span><span class=\"ls222\">the current year to<span class=\"_ _0\"></span> 31 March 2026 or prior year </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs229\">to 31 March 2025<span class=\"ls1\">. </span></div><div class=\"gs22a\"><table class=\"s wae h153\" id=\"_2d48a55b-935c-4ff6-a22d-4ba0705fc379\"><tr><td></td><td></td><td class=\"c x223 y3509 w2e hf8\"><div class=\"t m0 x9d hf9 y28e1 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y3509 w22 hf8\"><div class=\"t m0 x163 hf9 y28e1 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"c x224 y350a waf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls216 ws1\">Relevant<span class=\"_ _216\"> </span></div></td><td></td><td></td><td class=\"c x225 y350a wb0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls216 ws1\">Relevant<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x226 y350b waf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls216 ws1\">Relevant<span class=\"_ _216\"> </span></div></td><td class=\"c x227 y350c wb1 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">number</div></td><td class=\"c x228 y350b wb2 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls215 ws1\">Earnings</div></td><td class=\"c x229 y350b wb0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls216 ws1\">Relevant</div></td><td class=\"c x22a y350c wb3 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">number</div></td><td class=\"c x22b y350b wb4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Earnings<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x22c y350d wb5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">earnings</div></td><td class=\"c x22d y350d wb6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls215 ws1\">of shares</div></td><td class=\"c x22e y350d wb7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26c ws1\">per share</div></td><td class=\"c x22f y350d wb8 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">earnings</div></td><td class=\"c x230 y350d wb9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">of shares</div></td><td class=\"c x231 y350d wba h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">per share<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y350e w2d h111\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1d8 ws1\">Earnings per share<span class=\"ls1\"> </span></div></td><td class=\"c x232 y350f w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x233 y350f wbb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26b ws1\">million<span class=\"_ _216\"> </span></div></td><td class=\"c x234 y350f wbc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26c ws1\">pence<span class=\"_ _216\"> </span></div></td><td class=\"c x235 y350f wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1e9 y350f wbd h148\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls26d ws1\">million</div><div class=\"t m0 x236 hfc y3510 ff41 fsbb fc4 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x237 y350f wbe h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">pence<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3511 w2d hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1e2 ws1\">Underlying<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3512 w2d hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying bas<span class=\"_ _1\"></span>ic<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3512 w24 hfe\"><div class=\"t m0 x19d hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">290<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3512 w2f hfe\"><div class=\"t m0 x1b0 hfb y2914 ff42 fsba fc11 sc0 ls1df ws1\">1,000<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3512 w24 hfe\"><div class=\"t m0 x196 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">29.0<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3512 w24 hfe\"><div class=\"t m0 x19a hfb y2914 ff3f fsba fc4 sc0 ls1ea ws1\">275<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3512 w24 hfe\"><div class=\"t m0 x19a hfb y2914 ff3f fsba fc4 sc0 ls1e0 ws1\">962<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3512 w24 hfe\"><div class=\"t m0 x19b hfb y2914 ff3f fsba fc4 sc0 ls208 ws1\">28.6<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3513 w2d hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying di<span class=\"_ _1\"></span>luted<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3513 w24 hfe\"><div class=\"t m0 x19d hfb y2943 ff42 fsba fc11 sc0 ls1d7 ws1\">290<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3513 w2f hfe\"><div class=\"t m0 x1a6 hfb y2943 ff42 fsba fc11 sc0 ls1df ws1\">1,002<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3513 w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff42 fsba fc11 sc0 ls1d7 ws1\">28.9<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3513 w24 hfe\"><div class=\"t m0 x19a hfb y2943 ff3f fsba fc4 sc0 ls1ea ws1\">275<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3513 w24 hfe\"><div class=\"t m0 x19a hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">965<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3513 w24 hfe\"><div class=\"t m0 x19d hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">28.5<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3514 w2d hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1d8 ws1\">EPRA<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3515 w2d hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d8 ws1\">EPRA basic<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3515 w24 hfd\"><div class=\"t m0 x19d hfb y2be8 ff42 fsba fc11 sc0 ls1d7 ws1\">290<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3515 w2f hfd\"><div class=\"t m0 x1b0 hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">1,000<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3515 w24 hfd\"><div class=\"t m0 x196 hfb y2be8 ff42 fsba fc11 sc0 ls1d7 ws1\">29.0<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3515 w24 hfd\"><div class=\"t m0 x19a hfb y2be8 ff3f fsba fc4 sc0 ls1ea ws1\">275<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3515 w24 hfd\"><div class=\"t m0 x19a hfb y2be8 ff3f fsba fc4 sc0 ls1e0 ws1\">962<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3515 w24 hfd\"><div class=\"t m0 x19b hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">28.6<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3516 w2d hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">EPRA diluted<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3516 w24 hfe\"><div class=\"t m0 x19d hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">290<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3516 w2f hfe\"><div class=\"t m0 x1a6 hfb y28fc ff42 fsba fc11 sc0 ls1df ws1\">1,002<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3516 w24 hfe\"><div class=\"t m0 x196 hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">28.9<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3516 w24 hfe\"><div class=\"t m0 x19a hfb y28fc ff3f fsba fc4 sc0 ls1ea ws1\">275<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3516 w24 hfe\"><div class=\"t m0 x19a hfb y28fc ff3f fsba fc4 sc0 ls1e0 ws1\">965<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3516 w24 hfe\"><div class=\"t m0 x19d hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">28.5<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3517 w2d hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls205 ws1\">IFRS<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3518 w2d hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">Basic<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3518 w24 hfd\"><div class=\"t m0 x19d hfb y28e8 ff42 fsba fc11 sc0 ls1e9 ws1\">454<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3518 w2f hfd\"><div class=\"t m0 x1b0 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">1,000<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3518 w24 hfd\"><div class=\"t m0 x196 hfb y28e8 ff42 fsba fc11 sc0 ls1e9 ws1\">45.4<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3518 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1dd ws1\">338<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3518 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1e0 ws1\">962<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3518 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1dd ws1\">35.1<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3519 w2d hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls20a ws1\">Diluted<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3519 w24 hfe\"><div class=\"t m0 x19d hfb y28f5 ff42 fsba fc11 sc0 ls1e9 ws1\">454<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3519 w2f hfe\"><div class=\"t m0 x1a6 hfb y28f5 ff42 fsba fc11 sc0 ls1df ws1\">1,002<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3519 w24 hfe\"><div class=\"t m0 x196 hfb y28f5 ff42 fsba fc11 sc0 ls1e9 ws1\">45.3<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3519 w24 hfe\"><div class=\"t m0 x19a hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">338<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3519 w24 hfe\"><div class=\"t m0 x19a hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">965<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3519 w24 hfe\"><div class=\"t m0 x19b hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">35.<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs22b\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">In the prior year, o<span class=\"ls200\">n 2 October 2024, the Company announced <span class=\"ls1f4\">a <span class=\"ls202\">share placing, retail offer and subscription of 71,227,309</span></span></span></span><span class=\"fc13\"> </span><span class=\"ls1fb\">ordinary </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls202 ws1 gs22c\">shares of 25p each at<span class=\"ls1\"> <span class=\"ls1f4\">a price of 422</span>p <span class=\"ls1f2\">per share<span class=\"ls1f7\">, resulting in a</span></span> <span class=\"ls1fe\">71,227,309 <span class=\"ls1f9\">increase in <span class=\"ls1f3\">the num<span class=\"_ _0\"></span>ber of shares</span></span></span>. <span class=\"ls1f0\">See Note 19 for </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f8 ws1 gs22d\">further<span class=\"ls1\"> <span class=\"ls1f9\">information</span>.<span class=\"_ _0\"></span> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-427": {
   "value": "<div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls26e ws1 gs22f\">Net asset va<span class=\"_ _0\"></span>lue<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs230\">The Group measures financ<span class=\"_ _1\"></span>ial position wit<span class=\"_ _1\"></span>h reference to EPRA Net Tangi<span class=\"_ _1\"></span>ble Assets (NTA), Net <span class=\"_ _1\"></span>Rein<span class=\"ls224\">statement<span class=\"ls1\"> <span class=\"ls25d\">Value </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls243 ws1 gs231\">(NRV) and Net Disposa<span class=\"_ _0\"></span>l Value (NDV). The net assets and num<span class=\"_ _0\"></span>ber of shares for each performanc<span class=\"_ _0\"></span>e measure are shown </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs232\">below. A reconcil<span class=\"_ _1\"></span>iation between IFRS net<span class=\"_ _1\"></span> assets and the EPRA net<span class=\"_ _1\"></span> asset valuation <span class=\"_ _1\"></span>metrics, and the r<span class=\"_ _1\"></span>elevant number of </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs233\">shares for e<span class=\"ls225\">ach performance measure, is shown withi<span class=\"_ _1\"></span>n the supplementary disclosures (Table B). <span class=\"_ _1\"></span>EPRA NTA is<span class=\"ls1\"> </span>a measure </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs234\">that is based on IFRS ne<span class=\"_ _0\"></span>t assets excluding the mark<span class=\"ls1\">-</span>to<span class=\"_ _0\"></span><span class=\"ls1\">-<span class=\"ls233\">market <span class=\"_ _1\"></span>on deri<span class=\"_ _1\"></span>vatives <span class=\"_ _1\"></span>and rel<span class=\"_ _1\"></span>ated deb<span class=\"_ _1\"></span>t adjust<span class=\"_ _1\"></span>ments, <span class=\"_ _1\"></span>the car<span class=\"_ _1\"></span>rying </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs235\">value of intangibles,<span class=\"_ _1\"></span> as well as<span class=\"ls1\"> <span class=\"ls234\">deferred taxati<span class=\"_ _1\"></span>on on property and deri<span class=\"_ _1\"></span>vative valuations<span class=\"_ _1\"></span>. The metric incl<span class=\"_ _1\"></span>udes the valuation </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs236\">surplus on trading properties and is adjusted for the dilutive impact of share options.<span class=\"ls1\"> </span></div><div class=\"gs237\"><table class=\"s wbf h154\" id=\"_a2a2579f-1841-4117-b79f-4711501b7d10\"><tr><td></td><td></td><td class=\"c x239 y351a w31 hf8\"><div class=\"t m0 x15e hf9 y2960 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y351a w22 hf8\"><div class=\"t m0 x163 hf9 y2960 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"c x23a y351b waf h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls216 ws1\">Relevant</div></td><td class=\"c x23b y351b wc0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Net asset<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x225 y351b wb0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls216 ws1\">Relevant</div></td><td class=\"c x23c y351b wc1 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Net asset<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x23d y351c waf h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls216 ws1\">Relevant</div></td><td class=\"c x23e y351c wb1 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">number</div></td><td class=\"c x22e y351c wc2 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1cf ws1\">value per</div></td><td class=\"c x229 y351c wb0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls216 ws1\">Relevant</div></td><td class=\"c x23f y351c wb3 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">number</div></td><td class=\"c x240 y351c wc3 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">value per<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x241 y351d wc4 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">net assets</div></td><td class=\"c x242 y351d wb6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls215 ws1\">of shares<span class=\"_ _216\"> </span></div></td><td class=\"c x243 y351d wc5 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls26f ws1\">share</div></td><td class=\"c x244 y351d wc6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">net assets</div></td><td class=\"c x245 y351d wb9 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">of shares<span class=\"_ _216\"> </span></div></td><td class=\"c x246 y351d wc7 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls270 ws1\">share<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y351e w30 h10a\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1e1 ws1\">Net asset v<span class=\"_ _1\"></span>alue per share<span class=\"ls1\"> </span></div></td><td class=\"c x247 y351f w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x248 y351f wbb h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls26b ws1\">million<span class=\"_ _216\"> </span></div></td><td class=\"c x234 y351f wbc h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls26c ws1\">pence<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y351f wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1e9 y351f wbd h148\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls26d ws1\">million</div><div class=\"t m0 x236 hfc y3465 ff41 fsbb fc4 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x249 y351f wbe h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">pence<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3520 w30 hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1d8 ws1\">EPRA<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3521 w30 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1d8 ws1\">EPRA NTA<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3521 w24 hfe\"><div class=\"t m0 x1a7 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">5,<span class=\"ls1eb\">923</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x24a y3521 w32 hfe\"><div class=\"t m0 x1a5 hfb y2914 ff42 fsba fc11 sc0 ls1df ws1\">1,004<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3521 w24 hfe\"><div class=\"t m0 x19d hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">590<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3521 w24 hfe\"><div class=\"t m0 x1a7 hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">5,698<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3521 w24 hfe\"><div class=\"t m0 x178 hfb y2914 ff3f fsba fc4 sc0 ls1dc ws1\">1,005<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3521 w24 hfe\"><div class=\"t m0 x19a hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">567<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3522 w30 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1d8 ws1\">EPRA NRV<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3522 w24 hfe\"><div class=\"t m0 x1a5 hfb y2943 ff42 fsba fc11 sc0 ls1eb ws1\">6,538<span class=\"ls1\"> </span></div></td><td class=\"c x24a y3522 w32 hfe\"><div class=\"t m0 x1a5 hfb y2943 ff42 fsba fc11 sc0 ls1df ws1\">1,004<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3522 w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff42 fsba fc11 sc0 ls1eb ws1\">651<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3522 w24 hfe\"><div class=\"t m0 x178 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">6,283<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3522 w24 hfe\"><div class=\"t m0 x178 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,005<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3522 w24 hfe\"><div class=\"t m0 x19a hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">625<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3523 w30 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1d8 ws1\">EPRA NDV<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3523 w24 hfd\"><div class=\"t m0 x1a5 hfb y28dd ff42 fsba fc11 sc0 ls1d7 ws1\">5,982<span class=\"ls1\"> </span></div></td><td class=\"c x24a y3523 w32 hfd\"><div class=\"t m0 x1a5 hfb y28dd ff42 fsba fc11 sc0 ls1df ws1\">1,004<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3523 w24 hfd\"><div class=\"t m0 x19a hfb y28dd ff42 fsba fc11 sc0 ls1d7 ws1\">596<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3523 w24 hfd\"><div class=\"t m0 x178 hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">5,768<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3523 w24 hfd\"><div class=\"t m0 x178 hfb y28dd ff3f fsba fc4 sc0 ls1dc ws1\">1,005<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3523 w24 hfd\"><div class=\"t m0 x19a hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">574<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3524 w30 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls205 ws1\">IFRS<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3525 w30 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d6 ws1\">Basic<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3525 w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">5,932<span class=\"ls1\"> </span></div></td><td class=\"c x24a y3525 w32 hfe\"><div class=\"t m0 x1a5 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">1,000<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3525 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">593<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3525 w24 hfe\"><div class=\"t m0 x1b0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">5,710<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3525 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">999<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3525 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">572<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3526 w30 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls20a ws1\">Diluted<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3526 w24 hfd\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">5,932<span class=\"ls1\"> </span></div></td><td class=\"c x24a y3526 w32 hfd\"><div class=\"t m0 x1a5 hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">1,004<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3526 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">591<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3526 w24 hfd\"><div class=\"t m0 x1b0 hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">5,710<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3526 w24 hfd\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1dc ws1\">1,005<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3526 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">568<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs238\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">In the prior year, o<span class=\"ls200\">n 2 October 2024, the Company announced</span></span> a <span class=\"ls202\">share placing, retail offer and subscription of 71,227,309</span><span class=\"fc13\"> </span><span class=\"ls1fb\">ordinary </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls202 ws1 gs239\">shares of 25p each at a price of 422<span class=\"ls1\">p <span class=\"ls1f2\">per share<span class=\"ls1f7\">, resulting in a 71,227,30<span class=\"_ _0\"></span>9 increase in the num<span class=\"_ _0\"></span>ber of shares</span></span>. <span class=\"ls1f0\">See Note 19 for </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f8 ws1 gs23a\">further<span class=\"ls1\"> <span class=\"ls1f9\">information.</span> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNetAssetValueAttributableToUnitholdersExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-428": {
   "value": "<div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs23c\">Total accounting return<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs23d\">The Group <span class=\"ls225\">also measures financi<span class=\"_ _1\"></span>al performance with reference to total<span class=\"_ _1\"></span> accounting return<span class=\"ls1\">. <span class=\"ls220\">This is calcul<span class=\"_ _1\"></span>ated as the </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs23e\">movement <span class=\"_ _1\"></span>in EPRA <span class=\"_ _1\"></span>NTA per <span class=\"_ _1\"></span>share an<span class=\"_ _1\"></span>d divid<span class=\"_ _1\"></span>end paid <span class=\"_ _1\"></span>in the<span class=\"_ _1\"></span> year as<span class=\"_ _1\"></span> a perc<span class=\"_ _1\"></span>entage o<span class=\"_ _1\"></span>f the <span class=\"_ _1\"></span>EPRA NTA pe<span class=\"_ _1\"></span>r share<span class=\"_ _1\"></span> at th<span class=\"_ _1\"></span>e start<span class=\"_ _1\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs23f\">of the year.<span class=\"ls1\"> </span></div><div class=\"gs240\"><table class=\"s wc8 h156\" id=\"_2e602471-2a44-4494-966c-358112ea8a24\"><tr><td></td><td></td><td class=\"c x1e5 y3527 w22 hf8\"><div class=\"t m0 x163 hf9 y2902 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y3527 w22 hf8\"><div class=\"t m0 x163 hf9 y2902 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x24b y3528 wc9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls218 ws1\">Movement in<span class=\"_ _216\"> </span></div></td><td></td><td></td><td class=\"c x24c y3528 wca h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls218 ws1\">Movement in<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x24d y3529 wcb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">NTA per<span class=\"_ _216\"> </span></div></td><td class=\"c x24e y352a wcc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Dividend per<span class=\"_ _216\"> </span></div></td><td class=\"c x1ed y352a w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x22f y3529 wcd h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d0 ws1\">NTA per<span class=\"_ _216\"> </span></div></td><td class=\"c x24f y352a wce h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Dividend per<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y352a wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x250 y352b wd0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26f ws1\">share<span class=\"_ _216\"> </span></div></td><td class=\"c x251 y352c wd1 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26f ws1\">share paid<span class=\"_ _216\"> </span></div></td><td class=\"c x252 y352c wd2 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">accounting<span class=\"_ _216\"> </span></div></td><td class=\"c x253 y352b wc7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls270 ws1\">share<span class=\"_ _216\"> </span></div></td><td class=\"c x254 y352c wd3 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls270 ws1\">share paid<span class=\"_ _216\"> </span></div></td><td class=\"c x255 y352c wd4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d5 ws1\">accounting<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x256 y352d wbc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26c ws1\">pence<span class=\"_ _216\"> </span></div></td><td class=\"c x257 y352d wbc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26c ws1\">pence<span class=\"_ _216\"> </span></div></td><td class=\"c x258 y352d wd5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls271 ws1\">return<span class=\"_ _216\"> </span></div></td><td class=\"c x259 y352d wbe h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">pence<span class=\"_ _216\"> </span></div></td><td class=\"c x25a y352d wbe h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">pence<span class=\"_ _216\"> </span></div></td><td class=\"c x237 y352d wd6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls217 ws1\">return<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y352e w33 hfe\"><div class=\"t m0 x0 hfb y28ed ff42 fsba fc4 sc0 ls1e0 ws1\">Total accounting return<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y352e w24 hfe\"><div class=\"t m0 x1a2 hfb y28ed ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y352e w24 hfe\"><div class=\"t m0 x196 hfb y28ed ff42 fsba fc11 sc0 ls1d7 ws1\"><span>22.9</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fb y352e w24 hfe\"><div class=\"t m0 x1a3 hfb y28ed ff42 fsba fc11 sc0 ls1d7 ws1\">8.1%<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y352e w24 hfe\"><div class=\"t m0 x1aa hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fc y352e w24 hfe\"><div class=\"t m0 x19b hfb y28ed ff3f fsba fc4 sc0 ls1ea ws1\"><span>22.9</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y352e w24 hfe\"><div class=\"t m0 x1a6 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">5.0%<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs44c\">18 <span class=\"_ _23\"> </span><span class=\"ls274\">Dividends</span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs44d\">The final divi<span class=\"_ _1\"></span>dend payment for the si<span class=\"_ _1\"></span>x<span class=\"ls1\">-<span class=\"ls233\">month peri<span class=\"_ _1\"></span>od ended <span class=\"_ _1\"></span>31 Marc<span class=\"_ _1\"></span>h 202<span class=\"ls1\">6 <span class=\"ls236\">will <span class=\"_ _1\"></span>be <span class=\"ls22f\"><span><span id=\"__1\">10.80</span></span><span class=\"ls1\"><span class=\"ls93\"><span class=\"ls234\">p. Payment will be <span class=\"_ _1\"></span>made on<span class=\"ls1\"> </span></span></span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls268 ws1 gs44e\">24<span class=\"ls1\"> <span class=\"ls1e9\">July 202</span>6 <span class=\"ls222\">to shareho<span class=\"_ _0\"></span>lders on the register at close of busines<span class=\"_ _0\"></span>s on <span class=\"ls22f\">19</span></span> <span class=\"ls1e9\">June 202</span>6<span class=\"ls235\">. <span class=\"ls220\">9.34p <span class=\"ls236\">will be <span class=\"_ _1\"></span>payable as<span class=\"_ _1\"></span> a Propert<span class=\"_ _1\"></span>y </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs44f\">Income Dis<span class=\"_ _0\"></span>tribution and <span class=\"ls1\">1<span class=\"ls235\">.4<span class=\"_ _0\"></span>6p</span> <span class=\"ls236\">will be pa<span class=\"_ _1\"></span>yable as <span class=\"_ _1\"></span>a non<span class=\"ls1\">-<span class=\"ls234\">Property Income <span class=\"_ _1\"></span>Distribution.<span class=\"ls1\"> </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs450\">PID dividends ar<span class=\"_ _1\"></span>e paid, as r<span class=\"ls223\">equired by <span class=\"_ _1\"></span>REIT legislation, after <span class=\"_ _1\"></span>deduction of withholding tax at t<span class=\"_ _1\"></span>he basic rate (currently </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls268 ws1 gs451\">20%), where appropriate. Certain <span class=\"_ _1\"></span>classes of shareholders may be able <span class=\"_ _1\"></span>to elect to receive dividends <span class=\"_ _1\"></span>gross. Please refer </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs452\">to<span class=\"ls1\"> <span class=\"ls220\">our website <span class=\"ls236\">www.<span class=\"ls234\">brit<span class=\"_ _1\"></span>ishland.com/dividends<span class=\"ls1\"> <span class=\"ls231\">for details.</span>  </span></span></span></span></span></div><div class=\"gs453\"><table class=\"s w1da h190\" id=\"_3ed4e10e-3365-4c84-8b3d-5348f523727c\"><tr><td></td><td></td><td></td><td class=\"c x26f y380d w1db h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Pence per<span class=\"_ _216\"> </span></div></td><td class=\"c x200 y380d w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y380d w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y380e w63 h106\"><div class=\"t m0 x0 hf9 y28fc ff3e fsb9 fc11 sc0 ls215 ws1\">Payment date<span class=\"ls1\"> </span></div></td><td class=\"c x380 y380e w64 h106\"><div class=\"t m0 x0 hf9 y28fc ff3e fsb9 fc11 sc0 ls1d0 ws1\">Dividend<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x371 y380f wc7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls270 ws1\">share<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y380f w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y380f wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3810 w63 hfd\"><div class=\"t m0 x0 hfb y28e3 ff42 fsba fc4 sc0 ls1d9 ws1\">Current year div<span class=\"_ _1\"></span>idends<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3811 w63 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls208 ws1\">24<span class=\"ls1e4\">.07.202<span class=\"ls1\">6</span></span><span class=\"ls1e4\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x381 y3812 w1dc h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls208 ws1\">202<span class=\"ls1\">6</span></div></td><td class=\"c x382 y3812 w1dd h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls214 ws1\">Final<span class=\"_ _216\"> </span></div></td><td class=\"c x1e6 y3811 w24 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">10.80<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3813 w63 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">14<span class=\"ls1e4\">.01.202</span>6<span class=\"_ _0\"></span> </div></td><td class=\"c x381 y3814 w1dc h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls208 ws1\">202<span class=\"ls1\">6</span></div></td><td class=\"c x382 y3814 w1de h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interim<span class=\"_ _216\"> </span></div></td><td class=\"c x1e6 y3813 w24 hfd\"><div class=\"t m0 x1c1 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">12.<span class=\"ls1dd\">32</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3813 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">123<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"c x1e6 y3815 w24 hfe\"><div class=\"t m0 x1c1 hfb y2967 ff3f fsba fc4 sc0 ls1ea ws1\">23.12<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3816 w63 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1eb ws1\">Prior year divi<span class=\"_ _1\"></span>dends<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3817 w63 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">25.07.2025<span class=\"ls1\"> </span></div></td><td class=\"c x381 y3631 w1df h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls208 ws1\">202<span class=\"ls1\">5</span></div></td><td class=\"c x383 y3631 w1dd h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls214 ws1\">Final<span class=\"_ _216\"> </span></div></td><td class=\"c x1e6 y3817 w24 hfd\"><div class=\"t m0 x1b0 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">10.56<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3817 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1df ws1\">106<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y3818 w63 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">1<span class=\"ls1dd\">5.01.202</span>5 </div></td><td class=\"c x381 y3819 w1df h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls208 ws1\">202<span class=\"ls1\">5</span></div></td><td class=\"c x383 y3819 w1e0 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interim<span class=\"_ _216\"> </span></div></td><td class=\"c x1e6 y3818 w24 hfe\"><div class=\"t m0 x1a6 hfb y2914 ff3f fsba fc4 sc0 ls1dc ws1\">12.<span class=\"ls1ea\">24</span><span class=\"ls1ea\"><span class=\"ls1\"> </span></span></div></td><td></td><td class=\"c x1fd y3818 w24 hfe\"><div class=\"t m0 x19e hfb y2914 ff3f fsba fc4 sc0 ls1dc ws1\">122<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"c x1e6 y381a w24 hfd\"><div class=\"t m0 x1a7 hfb y292b ff3f fsba fc4 sc0 ls1ea ws1\">22.80<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y381b w63 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">26.07.2024<span class=\"ls1\"> </span></div></td><td class=\"c x381 y381c w1e1 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls208 ws1\">202<span class=\"ls1\">4</span></div></td><td class=\"c x384 y381c w1dd h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls214 ws1\">Final<span class=\"_ _216\"> </span></div></td><td class=\"c x1e6 y381b w24 hfe\"><div class=\"t m0 x1b0 hfb y28e1 ff3f fsba fc4 sc0 ls1dc ws1\">10.64<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fd y381b w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">99<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y381d w3d hfd\"><div class=\"t m0 x0 hfb y292f ff42 fsba fc4 sc0 ls20a ws1\">Dividends di<span class=\"_ _1\"></span>sclosed in cons<span class=\"_ _1\"></span>olidated statemen<span class=\"_ _1\"></span>t of changes i<span class=\"_ _1\"></span>n equity<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td class=\"c x1fc y381d w24 hfd\"><div class=\"t m0 x19a hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">229<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y381d w24 hfd\"><div class=\"t m0 x19e hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">2<span class=\"ls208\">21</span> </div></td></tr><tr><td class=\"c x1f9 y381e w3d hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls20a ws1\">Dividends set<span class=\"_ _1\"></span>tled in cash<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td class=\"c x1fc y381e w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">229<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y381e w24 hfe\"><div class=\"t m0 x19e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">2<span class=\"ls208\">21</span> </div></td></tr><tr><td class=\"c x1f9 y381f w3d hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">Timing difference re<span class=\"_ _1\"></span>lating to payment of withhol<span class=\"_ _1\"></span>ding tax<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td class=\"c x1fc y381f w24 hfd\"><div class=\"t m0 x16e hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y381f w24 hfd\"><div class=\"t m0 x1bc hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(1) </div></td></tr><tr><td class=\"c x1f9 y35ff w3d hfd\"><div class=\"t m0 x0 hfb y2c1d ff42 fsba fc4 sc0 ls20a ws1\">Dividends di<span class=\"_ _1\"></span>sclosed in cons<span class=\"_ _1\"></span>olidated statemen<span class=\"_ _1\"></span>t of cash fl<span class=\"_ _1\"></span>ows<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td class=\"c x1fc y35ff w24 hfd\"><div class=\"t m0 x19a hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">229<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ff w24 hfd\"><div class=\"t m0 x19a hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">2<span class=\"ls208\">20</span> </div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDividendsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-452": {
   "value": "0.229",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00",
    "unit": "iso4217:GBP/xbrli:shares"
   }
  },
  "fact-451": {
   "value": "0.229",
   "decimals": 3,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2024-04-01T00:00:00/2025-04-01T00:00:00",
    "unit": "iso4217:GBP/xbrli:shares"
   }
  },
  "fact-453": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs242\">3 <span class=\"_ _23\"> </span><span class=\"ls21b\">Revenue and costs</span> </div><div class=\"gs243\"><table class=\"s wd7 h157\" id=\"_756603e6-1e53-4ce9-a3e0-d1286a8014b6\"><tr><td></td><td></td><td class=\"c x1e5 y352f w22 hfe\"><div class=\"t m0 x163 hf9 y2914 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y352f w22 hfe\"><div class=\"t m0 x163 hf9 y2914 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"c x25b y3530 w86 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d3 ws1\">Capital<span class=\"_ _216\"> </span></div></td><td></td><td></td><td class=\"c x1e9 y3530 wd8 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Capital<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x1eb y3531 wd9 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d1 ws1\">Underlying<span class=\"_ _216\"> </span></div></td><td class=\"c x25c y3531 wda h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1cf ws1\">and other<span class=\"_ _216\"> </span></div></td><td class=\"c x1ed y3531 w8a h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x1ef y3531 wdb h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d4 ws1\">Underlying<span class=\"_ _216\"> </span></div></td><td class=\"c x1f0 y3531 w8c h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d5 ws1\">and other<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y3531 wcf h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f3 y3532 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f4 y3532 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f5 y3532 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x235 y3532 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y3532 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x25d y3532 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3533 w33 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1d6 ws1\">Rent receivable<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3533 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1dd ws1\">361<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3533 w24 hfd\"><div class=\"t m0 x1 hfb y29a1 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3533 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1dd ws1\">361<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3533 w24 hfd\"><div class=\"t m0 x19e hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">317<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3533 w24 hfd\"><div class=\"t m0 x1 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3533 w24 hfd\"><div class=\"t m0 x19e hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">317<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y3534 wdc h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ed ws1\">Spreading of tenant incenti<span class=\"_ _1\"></span>ves and contracted<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3535 wdd h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ee ws1\">rent increases<span class=\"_ _216\"> </span></div></td><td class=\"c x1e5 y3536 w24 h102\"><div class=\"t m0 x1aa hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fa y3536 w24 h102\"><div class=\"t m0 x1 hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3536 w24 h102\"><div class=\"t m0 x1aa hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1e6 y3536 w24 h102\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fc y3536 w24 h102\"><div class=\"t m0 x1 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3536 w24 h102\"><div class=\"t m0 x1 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td></tr><tr><td class=\"c x1f9 y3537 w33 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1ed ws1\">Surrender premia<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3537 w24 hfe\"><div class=\"t m0 x1a2 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3537 w24 hfe\"><div class=\"t m0 x1 hfb y293b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3537 w24 hfe\"><div class=\"t m0 x1a2 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3537 w24 hfe\"><div class=\"t m0 x1a4 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3537 w24 hfe\"><div class=\"t m0 x1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3537 w24 hfe\"><div class=\"t m0 x1a4 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3538 w33 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls20a ws1\">Gross rental<span class=\"_ _1\"></span> income<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3538 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3538 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3538 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3538 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">330<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3538 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3538 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">330<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3539 w33 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1ed ws1\">Service charge income<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3539 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff42 fsba fc11 sc0 ls1dd ws1\">78<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3539 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3539 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff42 fsba fc11 sc0 ls1dd ws1\">78<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3539 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3539 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3539 w24 hfe\"><div class=\"t m0 x1ad hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353a w33 h10b\"><div class=\"t m0 x0 hfb y29a4 ff3f fsba fc4 sc0 ls20b ws1\">Management an<span class=\"_ _1\"></span>d performance <span class=\"_ _1\"></span>fees (fro<span class=\"_ _1\"></span>m </div><div class=\"t m0 x0 hfb y29a5 ff3f fsba fc4 sc0 ls1e5 ws1\">joint<span class=\"ls1\"> <span class=\"ls272\">ventures</span> <span class=\"ls1e6\">and assets under management</span>) </span></div></td><td class=\"c x1e5 y353a w24 h10b\"><div class=\"t m0 x1ad hfb y29a1 ff42 fsba fc11 sc0 ls1df ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353a w24 h10b\"><div class=\"t m0 x1 hfb y29a1 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353a w24 h10b\"><div class=\"t m0 x1ad hfb y29a1 ff42 fsba fc11 sc0 ls1df ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353a w24 h10b\"><div class=\"t m0 x192 hfb y29a1 ff3f fsba fc4 sc0 ls1ea ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353a w24 h10b\"><div class=\"t m0 x1 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353a w24 h10b\"><div class=\"t m0 x1a2 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">20<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353b w33 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls204 ws1\">Other fee<span class=\"_ _1\"></span>s and commissi<span class=\"_ _1\"></span>ons<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353b w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353b w24 hfe\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353b w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353b w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff3f fsba fc4 sc0 ls1ea ws1\">27<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353b w24 hfe\"><div class=\"t m0 x1 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353b w24 hfe\"><div class=\"t m0 x1ad hfb y2914 ff3f fsba fc4 sc0 ls208 ws1\">27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353c w33 hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1d6 ws1\">Revenue<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353c w24 hfd\"><div class=\"t m0 x19a hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">523<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353c w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353c w24 hfd\"><div class=\"t m0 x19a hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">523<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353c w24 hfd\"><div class=\"t m0 x19d hfb y292b ff3f fsba fc4 sc0 ls1d8 ws1\">454<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353c w24 hfd\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353c w24 hfd\"><div class=\"t m0 x19d hfb y292b ff3f fsba fc4 sc0 ls1d8 ws1\">454<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353d w33 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1ed ws1\">Service charge expenses<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353d w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353d w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353d w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353d w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353d w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353d w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(68)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353e w33 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1eb ws1\">Property operating <span class=\"_ _1\"></span>expenses<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353e w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(50)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353e w24 hfd\"><div class=\"t m0 x1 hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353e w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(50)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353e w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(35)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353e w24 hfd\"><div class=\"t m0 x1 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353e w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(35)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353f w33 h102\"><div class=\"t m0 x0 hfb y2c27 ff3f fsba fc4 sc0 ls20b ws1\">Movement in<span class=\"ls1\"> <span class=\"ls1e5\">impairment of trade debto<span class=\"_ _0\"></span>rs and </span></span></div><div class=\"t m0 x0 hfb y2c28 ff3f fsba fc4 sc0 ls1e6 ws1\">accrued income<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353f w24 h102\"><div class=\"t m0 x1ad hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353f w24 h102\"><div class=\"t m0 x1 hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353f w24 h102\"><div class=\"t m0 x1ad hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353f w24 h102\"><div class=\"t m0 x1a4 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353f w24 h102\"><div class=\"t m0 x1 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353f w24 h102\"><div class=\"t m0 x1a4 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3540 w33 h10c\"><div class=\"t m0 x0 hfb y2c2a ff3f fsba fc4 sc0 ls20b ws1\">Movement in<span class=\"ls1\"> <span class=\"ls1e5\">impairment of tenant ince<span class=\"_ _0\"></span>ntives and </span></span></div><div class=\"t m0 x0 hfb y2c2b ff3f fsba fc4 sc0 ls1e6 ws1\">contracted rent increases<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fa y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fc y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y3541 w33 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls204 ws1\">Other fee<span class=\"_ _1\"></span>s and commissi<span class=\"_ _1\"></span>ons expenses<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3541 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3541 w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3541 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3541 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3541 w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3541 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(22)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3542 w33 hfd\"><div class=\"t m0 x0 hfb y2be8 ff42 fsba fc4 sc0 ls1d9 ws1\">Costs<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3542 w24 hfd\"><div class=\"t m0 x196 hfb y2be8 ff42 fsba fc11 sc0 ls1da ws1\">(147)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3542 w24 hfd\"><div class=\"t m0 x1 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3542 w24 hfd\"><div class=\"t m0 x196 hfb y2be8 ff42 fsba fc11 sc0 ls1da ws1\">(147)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3542 w24 hfd\"><div class=\"t m0 x19d hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(123)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3542 w24 hfd\"><div class=\"t m0 x1 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3542 w24 hfd\"><div class=\"t m0 x19d hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(123)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1e5 y3543 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">376<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3543 w24 hfd\"><div class=\"t m0 x1 hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3543 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">376<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">331<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3543 w24 hfd\"><div class=\"t m0 x1 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3543 w24 hfd\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">331<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs99\">N<span class=\"ls223\">et rental income (gross rental <span class=\"_ _1\"></span>income less <span class=\"ls234\">property operati<span class=\"_ _1\"></span>ng expenses) recognised du<span class=\"_ _1\"></span>ring the year ended 3<span class=\"_ _1\"></span>1 March </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls268 ws1 gs9a\">202<span class=\"ls1\">6 <span class=\"ls231\">from prop<span class=\"_ _0\"></span>erties which were no<span class=\"_ _0\"></span>t subject to a security intere<span class=\"_ _0\"></span>st was <span class=\"ls220\">\u00a3293m</span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a32<span class=\"ls221\">38<span class=\"ls233\">m). Prop<span class=\"_ _1\"></span>erty ope<span class=\"_ _1\"></span>rating </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs9b\">expenses relating to inves<span class=\"_ _1\"></span>tment properties that did not generate <span class=\"_ _1\"></span>any re<span class=\"ls221\">ntal income w</span>ere<span class=\"ls1\"> \u00a35m<span class=\"fc13\"> </span><span class=\"ls243\">(202<span class=\"_ _0\"></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls268\">2m<span class=\"ls243\">). </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs9c\">Contingent r<span class=\"_ _1\"></span>ents of <span class=\"ls1\">\u00a36<span class=\"ls233\">m <span class=\"ls243\">(202</span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>5<span class=\"ls233\">m) that con<span class=\"_ _1\"></span>tain a <span class=\"_ _1\"></span>variabl<span class=\"_ _1\"></span>e lease <span class=\"_ _1\"></span>payment <span class=\"_ _1\"></span>were rec<span class=\"_ _1\"></span>ognised <span class=\"_ _1\"></span>in<span class=\"ls1\"> <span class=\"ls222\">the</span> <span class=\"ls223\">year. </span></span></span></span><span class=\"ls1\"><span class=\"ls233\"><span class=\"ls1\"> </span></span></span></div>5 <span class=\"_ _23\"> </span><span class=\"ls274\">Auditors\u2019 remuneration</span> PricewaterhouseCoopers LLP<span class=\"ls1\"> </span><table class=\"s wdf h159\" id=\"_042581a4-677d-4d03-8c2e-1d6a6701af08\"><tr><td></td><td class=\"c x200 y3549 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3549 we0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">20<span class=\"ls1\">25<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y354a w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y354a wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y354b w25 h102\"><div class=\"t m0 x0 hfb y2c3e ff3f fsba fc4 sc0 ls214 ws1\">Fees payable to the <span class=\"_ _1\"></span>Company\u2019s auditor for the <span class=\"_ _1\"></span>audit of the Company\u2019s annual<span class=\"_ _1\"></span> accounts and </div><div class=\"t m0 x0 hfb y2c3f ff3f fsba fc4 sc0 ls1e6 ws1\">consolidated financial statements<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y354b w24 h102\"><div class=\"t m0 x1a3 hfb y293b ff42 fsba fc11 sc0 ls1d9 ws1\">0.7<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y354b w24 h102\"><div class=\"t m0 x19e hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">0.6<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y354c we1 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls214 ws1\">Fees payable to the <span class=\"_ _1\"></span>Company\u2019s auditor for the <span class=\"_ _1\"></span>audit of the Company\u2019s subsi<span class=\"_ _1\"></span>diaries, pursuant<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1fe y354d we2 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ee ws1\">to<span class=\"ls1\"> <span class=\"ls1e5\">legislation<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x1fc y354e w24 h102\"><div class=\"t m0 x1 hfb y28f5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y354e w24 h102\"><div class=\"t m0 x1 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y354f w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total audit fees<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y354f w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff42 fsba fc11 sc0 ls1d9 ws1\">0.7<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y354f w24 hfd\"><div class=\"t m0 x19e hfb y28f7 ff3f fsba fc4 sc0 ls275 ws1\">0.6<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3550 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1e1 ws1\">Audit<span class=\"ls1\"> <span class=\"ls1ee\">related assurance services</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3550 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1d9 ws1\">0.3<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3550 w24 hfd\"><div class=\"t m0 x19e hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">0.3<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3551 w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total audit and audi<span class=\"_ _1\"></span>t<span class=\"ls1\"> <span class=\"ls1e8\">related assuran<span class=\"_ _0\"></span>ce services</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3551 w24 hfe\"><div class=\"t m0 x192 hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">1.0<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3551 w24 hfe\"><div class=\"t m0 x19e hfb y28d7 ff3f fsba fc4 sc0 ls275 ws1\">0.9<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3552 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls204 ws1\">Other fee<span class=\"_ _1\"></span>s<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3552 w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3552 w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3553 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls204 ws1\">Other ser<span class=\"_ _1\"></span>vices<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3553 w24 hfe\"><div class=\"t m0 x192 hfb y28d5 ff42 fsba fc11 sc0 ls1d9 ws1\">0.1<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3553 w24 hfe\"><div class=\"t m0 x1a2 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">0.1<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3554 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3554 w24 hfe\"><div class=\"t m0 x1ad hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">1.1<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3554 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff3f fsba fc4 sc0 ls1dc ws1\">1.0<span class=\"ls1\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-429": {
   "value": "3 <span class=\"_ _23\"> </span><span class=\"ls21b\">Revenue and costs</span> <table class=\"s wd7 h157\" id=\"_756603e6-1e53-4ce9-a3e0-d1286a8014b6\"><tr><td></td><td></td><td class=\"c x1e5 y352f w22 hfe\"><div class=\"t m0 x163 hf9 y2914 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y352f w22 hfe\"><div class=\"t m0 x163 hf9 y2914 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"c x25b y3530 w86 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d3 ws1\">Capital<span class=\"_ _216\"> </span></div></td><td></td><td></td><td class=\"c x1e9 y3530 wd8 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Capital<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x1eb y3531 wd9 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d1 ws1\">Underlying<span class=\"_ _216\"> </span></div></td><td class=\"c x25c y3531 wda h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1cf ws1\">and other<span class=\"_ _216\"> </span></div></td><td class=\"c x1ed y3531 w8a h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x1ef y3531 wdb h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d4 ws1\">Underlying<span class=\"_ _216\"> </span></div></td><td class=\"c x1f0 y3531 w8c h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d5 ws1\">and other<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y3531 wcf h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f3 y3532 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f4 y3532 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f5 y3532 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x235 y3532 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y3532 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x25d y3532 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3533 w33 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1d6 ws1\">Rent receivable<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3533 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1dd ws1\">361<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3533 w24 hfd\"><div class=\"t m0 x1 hfb y29a1 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3533 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1dd ws1\">361<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3533 w24 hfd\"><div class=\"t m0 x19e hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">317<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3533 w24 hfd\"><div class=\"t m0 x1 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3533 w24 hfd\"><div class=\"t m0 x19e hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">317<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y3534 wdc h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ed ws1\">Spreading of tenant incenti<span class=\"_ _1\"></span>ves and contracted<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3535 wdd h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ee ws1\">rent increases<span class=\"_ _216\"> </span></div></td><td class=\"c x1e5 y3536 w24 h102\"><div class=\"t m0 x1aa hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fa y3536 w24 h102\"><div class=\"t m0 x1 hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3536 w24 h102\"><div class=\"t m0 x1aa hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1e6 y3536 w24 h102\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fc y3536 w24 h102\"><div class=\"t m0 x1 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3536 w24 h102\"><div class=\"t m0 x1 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td></tr><tr><td class=\"c x1f9 y3537 w33 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1ed ws1\">Surrender premia<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3537 w24 hfe\"><div class=\"t m0 x1a2 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3537 w24 hfe\"><div class=\"t m0 x1 hfb y293b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3537 w24 hfe\"><div class=\"t m0 x1a2 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3537 w24 hfe\"><div class=\"t m0 x1a4 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3537 w24 hfe\"><div class=\"t m0 x1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3537 w24 hfe\"><div class=\"t m0 x1a4 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3538 w33 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls20a ws1\">Gross rental<span class=\"_ _1\"></span> income<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3538 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3538 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3538 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3538 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">330<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3538 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3538 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">330<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3539 w33 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1ed ws1\">Service charge income<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3539 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff42 fsba fc11 sc0 ls1dd ws1\">78<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3539 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3539 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff42 fsba fc11 sc0 ls1dd ws1\">78<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3539 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3539 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3539 w24 hfe\"><div class=\"t m0 x1ad hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353a w33 h10b\"><div class=\"t m0 x0 hfb y29a4 ff3f fsba fc4 sc0 ls20b ws1\">Management an<span class=\"_ _1\"></span>d performance <span class=\"_ _1\"></span>fees (fro<span class=\"_ _1\"></span>m </div><div class=\"t m0 x0 hfb y29a5 ff3f fsba fc4 sc0 ls1e5 ws1\">joint<span class=\"ls1\"> <span class=\"ls272\">ventures</span> <span class=\"ls1e6\">and assets under management</span>) </span></div></td><td class=\"c x1e5 y353a w24 h10b\"><div class=\"t m0 x1ad hfb y29a1 ff42 fsba fc11 sc0 ls1df ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353a w24 h10b\"><div class=\"t m0 x1 hfb y29a1 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353a w24 h10b\"><div class=\"t m0 x1ad hfb y29a1 ff42 fsba fc11 sc0 ls1df ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353a w24 h10b\"><div class=\"t m0 x192 hfb y29a1 ff3f fsba fc4 sc0 ls1ea ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353a w24 h10b\"><div class=\"t m0 x1 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353a w24 h10b\"><div class=\"t m0 x1a2 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">20<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353b w33 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls204 ws1\">Other fee<span class=\"_ _1\"></span>s and commissi<span class=\"_ _1\"></span>ons<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353b w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353b w24 hfe\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353b w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353b w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff3f fsba fc4 sc0 ls1ea ws1\">27<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353b w24 hfe\"><div class=\"t m0 x1 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353b w24 hfe\"><div class=\"t m0 x1ad hfb y2914 ff3f fsba fc4 sc0 ls208 ws1\">27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353c w33 hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1d6 ws1\">Revenue<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353c w24 hfd\"><div class=\"t m0 x19a hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">523<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353c w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353c w24 hfd\"><div class=\"t m0 x19a hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">523<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353c w24 hfd\"><div class=\"t m0 x19d hfb y292b ff3f fsba fc4 sc0 ls1d8 ws1\">454<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353c w24 hfd\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353c w24 hfd\"><div class=\"t m0 x19d hfb y292b ff3f fsba fc4 sc0 ls1d8 ws1\">454<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353d w33 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1ed ws1\">Service charge expenses<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353d w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353d w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353d w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353d w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353d w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353d w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(68)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353e w33 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1eb ws1\">Property operating <span class=\"_ _1\"></span>expenses<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353e w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(50)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353e w24 hfd\"><div class=\"t m0 x1 hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353e w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(50)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353e w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(35)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353e w24 hfd\"><div class=\"t m0 x1 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353e w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(35)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y353f w33 h102\"><div class=\"t m0 x0 hfb y2c27 ff3f fsba fc4 sc0 ls20b ws1\">Movement in<span class=\"ls1\"> <span class=\"ls1e5\">impairment of trade debto<span class=\"_ _0\"></span>rs and </span></span></div><div class=\"t m0 x0 hfb y2c28 ff3f fsba fc4 sc0 ls1e6 ws1\">accrued income<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y353f w24 h102\"><div class=\"t m0 x1ad hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y353f w24 h102\"><div class=\"t m0 x1 hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y353f w24 h102\"><div class=\"t m0 x1ad hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y353f w24 h102\"><div class=\"t m0 x1a4 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y353f w24 h102\"><div class=\"t m0 x1 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y353f w24 h102\"><div class=\"t m0 x1a4 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3540 w33 h10c\"><div class=\"t m0 x0 hfb y2c2a ff3f fsba fc4 sc0 ls20b ws1\">Movement in<span class=\"ls1\"> <span class=\"ls1e5\">impairment of tenant ince<span class=\"_ _0\"></span>ntives and </span></span></div><div class=\"t m0 x0 hfb y2c2b ff3f fsba fc4 sc0 ls1e6 ws1\">contracted rent increases<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fa y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fc y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3540 w24 h10c\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y3541 w33 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls204 ws1\">Other fee<span class=\"_ _1\"></span>s and commissi<span class=\"_ _1\"></span>ons expenses<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3541 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3541 w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3541 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3541 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3541 w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3541 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(22)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3542 w33 hfd\"><div class=\"t m0 x0 hfb y2be8 ff42 fsba fc4 sc0 ls1d9 ws1\">Costs<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3542 w24 hfd\"><div class=\"t m0 x196 hfb y2be8 ff42 fsba fc11 sc0 ls1da ws1\">(147)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3542 w24 hfd\"><div class=\"t m0 x1 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3542 w24 hfd\"><div class=\"t m0 x196 hfb y2be8 ff42 fsba fc11 sc0 ls1da ws1\">(147)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3542 w24 hfd\"><div class=\"t m0 x19d hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(123)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3542 w24 hfd\"><div class=\"t m0 x1 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3542 w24 hfd\"><div class=\"t m0 x19d hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(123)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1e5 y3543 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">376<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3543 w24 hfd\"><div class=\"t m0 x1 hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3543 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">376<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">331<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3543 w24 hfd\"><div class=\"t m0 x1 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3543 w24 hfd\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">331<span class=\"ls1\"> </span></div></td></tr></table>N<span class=\"ls223\">et rental income (gross rental <span class=\"_ _1\"></span>income less <span class=\"ls234\">property operati<span class=\"_ _1\"></span>ng expenses) recognised du<span class=\"_ _1\"></span>ring the year ended 3<span class=\"_ _1\"></span>1 March </span></span>202<span class=\"ls1\">6 <span class=\"ls231\">from prop<span class=\"_ _0\"></span>erties which were no<span class=\"_ _0\"></span>t subject to a security intere<span class=\"_ _0\"></span>st was <span class=\"ls220\">\u00a3293m</span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a32<span class=\"ls221\">38<span class=\"ls233\">m). Prop<span class=\"_ _1\"></span>erty ope<span class=\"_ _1\"></span>rating </span></span></span></span>expenses relating to inves<span class=\"_ _1\"></span>tment properties that did not generate <span class=\"_ _1\"></span>any re<span class=\"ls221\">ntal income w</span>ere<span class=\"ls1\"> \u00a35m<span class=\"fc13\"> </span><span class=\"ls243\">(202<span class=\"_ _0\"></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls268\">2m<span class=\"ls243\">). </span></span></span></span>Contingent r<span class=\"_ _1\"></span>ents of <span class=\"ls1\">\u00a36<span class=\"ls233\">m <span class=\"ls243\">(202</span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>5<span class=\"ls233\">m) that con<span class=\"_ _1\"></span>tain a <span class=\"_ _1\"></span>variabl<span class=\"_ _1\"></span>e lease <span class=\"_ _1\"></span>payment <span class=\"_ _1\"></span>were rec<span class=\"_ _1\"></span>ognised <span class=\"_ _1\"></span>in<span class=\"ls1\"> <span class=\"ls222\">the</span> <span class=\"ls223\">year. </span></span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-430": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs245\">4 <span class=\"_ _23\"> </span><span class=\"ls273\">Valuation movements on property</span> </div><div class=\"gs246\"><table class=\"s wde h158\" id=\"_0ca8f336-ca90-4738-8689-7faae9070509\"><tr><td></td><td class=\"c x200 y3544 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3544 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3545 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x25d y3545 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3546 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">Revaluation of <span class=\"_ _1\"></span>properties<span class=\"ls1\"> <span class=\"ls1db\">(consolidated income statement)</span> </span></div></td><td class=\"c x1fc y3546 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">107<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3546 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">148<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3547 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">Revaluation of <span class=\"_ _1\"></span>properties held by<span class=\"_ _1\"></span> joint ventures a<span class=\"_ _1\"></span>ccounted for using t<span class=\"_ _1\"></span>he equity method<span class=\"_ _216\"> </span></div><div class=\"t m0 x3d hff y29b3 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 xc5 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3547 w24 hfd\"><div class=\"t m0 x1a2 hfb y297c ff42 fsba fc11 sc0 ls1eb ws1\">98<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3547 w24 hfd\"><div class=\"t m0 x192 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(14)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y3548 w24 hfd\"><div class=\"t m0 x19d hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">205<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3548 w24 hfd\"><div class=\"t m0 x1a3 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">1<span class=\"ls1dd\">34</span> </div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs247\">1. <span class=\"_ _24\"> </span><span class=\"ls201\">Revaluation of properti<span class=\"_ _1\"></span>es held by joint ventur<span class=\"_ _1\"></span>es accounted for using th<span class=\"_ _1\"></span>e equity method<span class=\"ls1\"> <span class=\"ls1fb\">of</span> <span class=\"ls1fb\">\u00a398m <span class=\"ls1f4\">credit <span class=\"ls1fc\">(2024/25: \u00a314m debit) </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f9 ws1 gs248\">includes <span class=\"ls1fa\">valuation movements on investment and development properties of \u00a3111m (2024/25: \u00a314m debit) and impairment of<span class=\"_ _1\"></span> trading </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs249\">properties of \u00a313m (2024/25:<span class=\"_ _1\"></span> \u00a3nil). <span class=\"ls1\"> </span></div><div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls283 ws1 gs2b7\">10<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls277\">Property</span> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs2b8\">Property reconciliat<span class=\"_ _0\"></span>ion for the year ended 31<span class=\"_ _0\"></span> March 202<span class=\"ls1\">6 </span></div><div class=\"gs2b9\"><table class=\"s wfa h166\" id=\"_c3e994eb-6967-445e-b52e-6878b746d068\"><tr><td></td><td></td><td class=\"c x271 y35cb wfb h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls216 ws1\">Retail &amp;<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"c x272 y35cc wfc h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls235 ws1\">London<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x273 y35cc wfd h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls284 ws1\">Invest<span class=\"ls26b\">ment and<span class=\"_ _216\"> </span></span></div></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"c x274 y35cd wfe h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d1 ws1\">Urban<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x275 y35cd wff h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls26c ws1\">development<span class=\"_ _216\"> </span></div></td><td class=\"c x276 y35ce w100 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Trading <span class=\"ls1cf\">and<span class=\"_ _216\"> </span></span></div></td><td></td></tr><tr><td></td><td class=\"c x277 y35cf w101 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d3 ws1\">Campuses</div></td><td class=\"c x279 y35cf w102 h155\" colspan=\"2\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls235 ws1\">Logistics</div><div class=\"t m0 x278 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Developments<span class=\"_ _216\"> </span></div></td><td class=\"c x27a y35cf w103 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls26c ws1\">properties</div></td><td class=\"c x24f y35cf w104 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">held<span class=\"ls1\">-<span class=\"ls285\">for</span>-<span class=\"ls26f\">sale<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td></td><td class=\"c x27b y35d0 w105 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x27c y35d0 w105 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x27d y35d0 w105 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x27e y35d0 w105 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 3</div></td><td class=\"c x254 y35d0 w103 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls26c ws1\">properties<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y35d0 w8a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x27f y35d1 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x280 y35d1 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x281 y35d1 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x282 y35d1 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y35d1 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35d1 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35d2 w3f hfd\"><div class=\"t m0 x0 hfb y2be8 ff42 fsba fc4 sc0 ls1d9 ws1\">Carrying value at<span class=\"_ _1\"></span> 1 April 202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td class=\"c x283 y35d2 w24 hfd\"><div class=\"t m0 x1b0 hfb y2be8 ff42 fsba fc11 sc0 ls1d7 ws1\">2,173<span class=\"ls1\"> </span></div></td><td class=\"c x284 y35d2 w24 hfd\"><div class=\"t m0 x1a7 hfb y2be8 ff42 fsba fc11 sc0 ls1dd ws1\">3,566<span class=\"ls1\"> </span></div></td><td class=\"c x285 y35d2 w40 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff42 fsba fc11 sc0 ls1dd ws1\">391<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35d2 w41 hfd\"><div class=\"t m0 x8f hfb y2be8 ff42 fsba fc11 sc0 ls1eb ws1\">6,130<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35d2 w24 hfd\"><div class=\"t m0 x192 hfb y2be8 ff42 fsba fc11 sc0 ls1e9 ws1\">44<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35d2 w24 hfd\"><div class=\"t m0 x178 hfb y2be8 ff42 fsba fc11 sc0 ls1eb ws1\">6,174<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35d3 w3f hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1e1 ws1\">Additions<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y35d4 w3f hfd\"><div class=\"t m0 x1b8 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1eb\">property purchases</span> </div></td><td class=\"c x283 y35d4 w24 hfd\"><div class=\"t m0 x16e hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x284 y35d4 w24 hfd\"><div class=\"t m0 x192 hfb y292f ff42 fsba fc11 sc0 ls1df ws1\">113<span class=\"ls1\"> </span></div></td><td class=\"c x285 y35d4 w40 hfd\"><div class=\"t m0 x112 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x286 y35d4 w41 hfd\"><div class=\"t m0 xd0 hfb y292f ff42 fsba fc11 sc0 ls1df ws1\">113<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35d4 w24 hfd\"><div class=\"t m0 x1 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35d4 w24 hfd\"><div class=\"t m0 x192 hfb y292f ff42 fsba fc11 sc0 ls1df ws1\">113<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35d5 w3f hfe\"><div class=\"t m0 x1b8 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1eb\">development expenditure</span> </div></td><td class=\"c x283 y35d5 w24 hfe\"><div class=\"t m0 x1bc hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x284 y35d5 w24 hfe\"><div class=\"t m0 x1 hfb y28f3 ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x285 y35d5 w40 hfe\"><div class=\"t m0 x1aa hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">25<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35d5 w41 hfe\"><div class=\"t m0 x7c hfb y28f3 ff42 fsba fc11 sc0 ls1dd ws1\">39<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35d5 w24 hfe\"><div class=\"t m0 x1 hfb y28f3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35d5 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff42 fsba fc11 sc0 ls1dd ws1\">39<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35d6 w3f hfd\"><div class=\"t m0 x1b8 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1e6\">capitalised interest and staff cost<span class=\"_ _1\"></span>s</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x283 y35d6 w24 hfd\"><div class=\"t m0 x1be hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x284 y35d6 w24 hfd\"><div class=\"t m0 x1be hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x285 y35d6 w40 hfd\"><div class=\"t m0 x6d hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">8 </div></td><td class=\"c x286 y35d6 w41 hfd\"><div class=\"t m0 x166 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35d6 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35d6 w24 hfd\"><div class=\"t m0 x1ad hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x287 y35d7 w106 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1e6\">capital expenditure on asset<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x287 y35d8 w107 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ef ws1\">management<span class=\"ls1\"> <span class=\"ls1e5\">initiatives<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x283 y35d9 w24 h102\"><div class=\"t m0 x1a4 hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x284 y35d9 w24 h102\"><div class=\"t m0 x1ad hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">27<span class=\"ls1\"> </span></div></td><td class=\"c x285 y35d9 w40 h102\"><div class=\"t m0 x112 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x286 y35d9 w41 h102\"><div class=\"t m0 xd0 hfb y292f ff42 fsba fc11 sc0 ls1e9 ws1\">48<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35d9 w24 h102\"><div class=\"t m0 x16e hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x1fd y35d9 w24 h102\"><div class=\"t m0 x192 hfb y292f ff42 fsba fc11 sc0 ls1e9 ws1\">49<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x283 y35da w24 hfd\"><div class=\"t m0 x1a2 hfb y28e8 ff42 fsba fc11 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td><td class=\"c x284 y35da w24 hfd\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">144<span class=\"ls1\"> </span></div></td><td class=\"c x285 y35da w40 hfd\"><div class=\"t m0 x1aa hfb y28e8 ff42 fsba fc11 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35da w41 hfd\"><div class=\"t m0 x6d hfb y28e8 ff42 fsba fc11 sc0 ls1d7 ws1\">210<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35da w24 hfd\"><div class=\"t m0 x16e hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x1fd y35da w24 hfd\"><div class=\"t m0 x192 hfb y28e8 ff42 fsba fc11 sc0 ls1d7 ws1\">211<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35db w3f hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20a ws1\">Disposals<span class=\"ls1\"> </span></div></td><td class=\"c x283 y35db w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(14)<span class=\"ls1\"> </span></div></td><td class=\"c x284 y35db w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(43)<span class=\"ls1\"> </span></div></td><td class=\"c x285 y35db w40 hfe\"><div class=\"t m0 x112 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x286 y35db w41 hfe\"><div class=\"t m0 x6d hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(57)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35db w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(23)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35db w24 hfe\"><div class=\"t m0 x19a hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(80)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35dc w3f hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">Reclassifica<span class=\"_ _1\"></span>tions<span class=\"ls1\"> </span></div></td><td class=\"c x283 y35dc w24 hfd\"><div class=\"t m0 x1a2 hfb y28f7 ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\"> </span></div></td><td class=\"c x284 y35dc w24 hfd\"><div class=\"t m0 x1ad hfb y28f7 ff42 fsba fc11 sc0 ls1dd ws1\">72<span class=\"ls1\"> </span></div></td><td class=\"c x285 y35dc w40 hfd\"><div class=\"t m0 x1ad hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(95)<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35dc w41 hfd\"><div class=\"t m0 x85 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y35dc w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35dc w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y35dd w3f hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">Revaluations i<span class=\"_ _1\"></span>ncluded in <span class=\"ls1e5\">income statement</span><span class=\"ls1e5\"><span class=\"_ _0\"></span><span class=\"ls1\"> </span></span></div></td><td class=\"c x283 y35dd w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">52<span class=\"ls1\"> </span></div></td><td class=\"c x284 y35dd w24 hfe\"><div class=\"t m0 x192 hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">90<span class=\"ls1\"> </span></div></td><td class=\"c x285 y35dd w40 hfe\"><div class=\"t m0 x1ad hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(35)<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35dd w41 hfe\"><div class=\"t m0 x6d hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">107<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35dd w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35dd w24 hfe\"><div class=\"t m0 x1a3 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">107<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y35de w108 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>tenant inc<span class=\"_ _1\"></span>entives and <span class=\"_ _1\"></span>contracted<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y35df w109 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1ee ws1\">rent uplift balances<span class=\"_ _216\"> </span></div></td><td class=\"c x283 y35e0 w24 h102\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x284 y35e0 w24 h102\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x285 y35e0 w40 h102\"><div class=\"t m0 x112 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x286 y35e0 w41 h102\"><div class=\"t m0 x85 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">8 </div></td><td class=\"c x1fc y35e0 w24 h102\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35e0 w24 h102\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">8 </div></td></tr><tr><td class=\"c x1f9 y35e1 w3f hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1d9 ws1\">Carrying value at<span class=\"_ _1\"></span> 31 March 202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x283 y35e1 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">2,269<span class=\"ls1\"> </span></div></td><td class=\"c x284 y35e1 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">3,835<span class=\"ls1\"> </span></div></td><td class=\"c x285 y35e1 w40 hfe\"><div class=\"t m0 x192 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">294<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35e1 w41 hfe\"><div class=\"t m0 x1ad hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">6,398<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35e1 w24 hfe\"><div class=\"t m0 x1a2 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">22<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35e1 w24 hfe\"><div class=\"t m0 x198 hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">6,420<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35e2 w3f hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabilities <span class=\"_ _1\"></span>(Notes 14 and 15)<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x1fd y35e2 w24 hfd\"><div class=\"t m0 x196 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(109)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35e3 w3f hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">Less valuation <span class=\"ls1e3\">surplus on right<span class=\"ls1\">-<span class=\"ls1e0\">of</span>-</span></span>use assets<span class=\"_ _216\"> </span></div><div class=\"t m0 xa1 hff y2cf3 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 xa2 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x1fd y35e3 w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35e4 w3f hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation sur<span class=\"_ _1\"></span>plus on trading<span class=\"_ _1\"></span> properties<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x1fd y35e4 w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">8 </div></td></tr><tr><td class=\"c x1f9 y35ca w3f h102\"><div class=\"t m0 x0 hfb y2cf6 ff42 fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation at </div><div class=\"t m0 x0 hfb y2cf7 ff42 fsba fc4 sc0 ls1dd ws1\">31<span class=\"ls1\"> <span class=\"ls20b\">March 202</span>6 <span class=\"ls208\">attributable to <span class=\"_ _1\"></span>shareholders<span class=\"ls1\"> </span></span></span></div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x1fd y35ca w24 h102\"><div class=\"t m0 x178 hfb y2914 ff42 fsba fc11 sc0 ls1eb ws1\">6,316<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs2ba\">1. <span class=\"_ _24\"> </span><span class=\"ls201\">Relates to properties <span class=\"_ _1\"></span>held under leasing agreements<span class=\"_ _1\"></span>. The fair <span class=\"ls1fa\">value of right</span><span class=\"ls1\">-<span class=\"ls1fb\">of</span>-<span class=\"ls200\">use assets<span class=\"_ _1\"></span> is determined by calculating the present </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fa ws1 gs2bb\">value of net rental cash flows over t<span class=\"_ _1\"></span>he term of the lease agreements. IFRS 16 right<span class=\"ls1\">-<span class=\"ls1fb\">of</span>-<span class=\"ls200\">use assets are not<span class=\"_ _1\"></span> externally valued, their fair </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fa ws1 gs2bc\">values are determined by management and are theref<span class=\"ls1fb\">ore not inc<span class=\"_ _1\"></span>luded in the Group property portfolio <span class=\"_ _1\"></span>valuation of \u00a36,316<span class=\"ls1f5\">m above.<span class=\"_ _1\"></span><span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs2bd\">Additions <span class=\"_ _1\"></span>include<span class=\"ls1\"> <span class=\"ls220\">\u00a31m</span> <span class=\"ls220\">of <span class=\"ls226\">capital expendit<span class=\"_ _1\"></span>ure in response to climate change<span class=\"ls1\"> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls22f\">1m)<span class=\"ls235\">, in<span class=\"_ _0\"></span> line with our<span class=\"_ _0\"></span> </span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20c ws1 gs2be\">Sustainabilit<span class=\"_ _1\"></span>y Strategy <span class=\"ls222\">to<span class=\"ls1\"> </span>reduce both the em<span class=\"_ _0\"></span>bodied carbon in our de<span class=\"_ _0\"></span>vel<span class=\"ls220\">opments and the operat<span class=\"_ _1\"></span>ional carbon across t<span class=\"_ _1\"></span>he </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs2bf\">Group\u2019s st<span class=\"_ _1\"></span>anding propert<span class=\"_ _1\"></span>y portfoli<span class=\"_ _1\"></span>o. For fu<span class=\"_ _1\"></span>rther detai<span class=\"_ _1\"></span>ls, refer<span class=\"_ _1\"></span> to the Su<span class=\"_ _1\"></span>stainabilit<span class=\"_ _1\"></span>y section <span class=\"_ _1\"></span>of the Str<span class=\"_ _1\"></span>ategic Report<span class=\"_ _1\"></span> on </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs2c0\">pages <span class=\"ls221\">36 <span class=\"ls222\">to <span class=\"ls24a\">43.</span></span></span><span class=\"ls221\"><span class=\"ls222\"><span class=\"ls24a\"><span class=\"ls1\"> </span></span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs2c2\">Property reconciliat<span class=\"_ _0\"></span>ion for the year ended 31<span class=\"_ _0\"></span> Ma<span class=\"ls246\">rch 202<span class=\"ls1\">5 </span></span></div><div class=\"gs2c3\"><table class=\"s w10a h167\" id=\"_0e39a87f-5ae8-46d0-bbbe-c054822c57ec\"><tr><td></td><td></td><td class=\"c x288 y35e5 w10b h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls216 ws1\">Retail &amp;<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"c x288 y35e6 w10c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">London<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x289 y35e7 w10d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls287 ws1\">Investment and<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"c x28a y35e8 w10e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d4 ws1\">Urban<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x275 y35e8 w10f h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">development</div></td><td class=\"c x28b y35e8 w110 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Trading<span class=\"ls1\"> <span class=\"ls1d5\">and<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td></td><td class=\"c x28c y35e9 w111 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Campuses</div></td><td class=\"c x28e y35e9 w112 h155\" colspan=\"2\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">Logistics</div><div class=\"t m0 x28d hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Developments<span class=\"_ _216\"> </span></div></td><td class=\"c x28f y35e9 w113 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">properties</div></td><td class=\"c x26e y35e9 w114 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">held<span class=\"ls1\">-<span class=\"ls288\">for</span>-<span class=\"ls270\">sale<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td></td><td class=\"c x290 y35ea w115 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 3</div></td><td class=\"c x291 y35ea w115 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x292 y35ea w116 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x27e y35ea w116 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 3</div></td><td class=\"c x254 y35ea w113 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">properties<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y35ea wcf h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x293 y35eb wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x294 y35eb wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x295 y35eb wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x282 y35eb wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y35eb wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35eb wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ec w42 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls1d9 ws1\">Carrying value at<span class=\"_ _1\"></span> 1 April 202<span class=\"ls1\">4</span><span class=\"ls1\"> </span></div></td><td class=\"c x296 y35ec w24 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">1,995<span class=\"ls1\"> </span></div></td><td class=\"c x297 y35ec w24 hfd\"><div class=\"t m0 x178 hfb y2928 ff3f fsba fc4 sc0 ls1ea ws1\">2,686<span class=\"ls1\"> </span></div></td><td class=\"c x298 y35ec w43 hfd\"><div class=\"t m0 x192 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">548<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35ec w41 hfd\"><div class=\"t m0 x8f hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">5,229<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ec w24 hfd\"><div class=\"t m0 x1ad hfb y2928 ff3f fsba fc4 sc0 ls1ea ws1\">22<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ec w24 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">5,251<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ed w42 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1e1 ws1\">Additions<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y35ee w42 hfd\"><div class=\"t m0 x1b8 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1eb\">property purchases<span class=\"_ _216\"> </span></span></div><div class=\"t m0 x16a hff y2982 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x9c hfb y292b ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x296 y35ee w24 hfd\"><div class=\"t m0 x16e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x297 y35ee w24 hfd\"><div class=\"t m0 x19a hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">730<span class=\"ls1\"> </span></div></td><td class=\"c x298 y35ee w43 hfd\"><div class=\"t m0 x6d hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x286 y35ee w41 hfd\"><div class=\"t m0 x13a hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">730<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ee w24 hfd\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35ee w24 hfd\"><div class=\"t m0 x19a hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">730<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ef w42 hfe\"><div class=\"t m0 x1b8 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1eb\">development expenditure</span> </div></td><td class=\"c x296 y35ef w24 hfe\"><div class=\"t m0 x1ad hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">22 </div></td><td class=\"c x297 y35ef w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x298 y35ef w43 hfe\"><div class=\"t m0 x1bc hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">78<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35ef w41 hfe\"><div class=\"t m0 x112 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ef w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35ef w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35f0 w42 hfd\"><div class=\"t m0 x1b8 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1e6\">capitalised interest and staff cost<span class=\"_ _1\"></span>s</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x296 y35f0 w24 hfd\"><div class=\"t m0 x1 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x297 y35f0 w24 hfd\"><div class=\"t m0 x1be hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x298 y35f0 w43 hfd\"><div class=\"t m0 x1 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35f0 w41 hfd\"><div class=\"t m0 x125 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35f0 w24 hfd\"><div class=\"t m0 x1 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35f0 w24 hfd\"><div class=\"t m0 x8f hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x287 y35f1 w106 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1e6\">capital expenditure on asset<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x287 y35f2 w107 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ef ws1\">management<span class=\"ls1\"> <span class=\"ls1e5\">initiatives<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x296 y35f3 w24 h102\"><div class=\"t m0 x8f hfb y292b ff3f fsba fc4 sc0 ls1dc ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x297 y35f3 w24 h102\"><div class=\"t m0 x8f hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x298 y35f3 w43 h102\"><div class=\"t m0 x112 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x286 y35f3 w41 h102\"><div class=\"t m0 x125 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">51<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35f3 w24 h102\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35f3 w24 h102\"><div class=\"t m0 x8f hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">51<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35f4 w42 hfe\"><div class=\"t m0 x1b8 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1dd\">head lease <span class=\"ls1e6\">assets and right</span></span>-<span class=\"ls1e0\">of</span>-<span class=\"ls1dd\">use assets<span class=\"_ _216\"> </span></span></div><div class=\"t m0 x13b hff y28df ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x22 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x296 y35f4 w24 hfe\"><div class=\"t m0 x16e hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x297 y35f4 w24 hfe\"><div class=\"t m0 x1aa hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x298 y35f4 w43 hfe\"><div class=\"t m0 x6d hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x286 y35f4 w41 hfe\"><div class=\"t m0 x85 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fc y35f4 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35f4 w24 hfe\"><div class=\"t m0 x1aa hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td></tr><tr><td></td><td class=\"c x296 y35f5 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff3f fsba fc4 sc0 ls1d8 ws1\">48<span class=\"ls1\"> </span></div></td><td class=\"c x297 y35f5 w24 hfe\"><div class=\"t m0 x19e hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">771<span class=\"ls1\"> </span></div></td><td class=\"c x298 y35f5 w43 hfe\"><div class=\"t m0 x1bc hfb y28e1 ff3f fsba fc4 sc0 ls1d7 ws1\">89<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35f5 w41 hfe\"><div class=\"t m0 x13a hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">908<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35f5 w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35f5 w24 hfe\"><div class=\"t m0 x19d hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">908<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35f6 w42 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls20a ws1\">Disposals<span class=\"ls1\"> </span></div></td><td class=\"c x296 y35f6 w24 hfd\"><div class=\"t m0 x1a3 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(59)<span class=\"ls1\"> </span></div></td><td class=\"c x297 y35f6 w24 hfd\"><div class=\"t m0 x1a3 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x298 y35f6 w43 hfd\"><div class=\"t m0 x6d hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x286 y35f6 w41 hfd\"><div class=\"t m0 x6d hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(141)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35f6 w24 hfd\"><div class=\"t m0 x1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35f6 w24 hfd\"><div class=\"t m0 x19a hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(141)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35f7 w42 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">Reclassifica<span class=\"_ _1\"></span>tions<span class=\"ls1\"> </span></div></td><td class=\"c x296 y35f7 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">2<span class=\"ls1dd\">37</span> </div></td><td class=\"c x297 y35f7 w24 hfe\"><div class=\"t m0 x16e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x298 y35f7 w43 hfe\"><div class=\"t m0 x19a hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(2<span class=\"ls1dd\">59</span><span class=\"ls1dd\"><span class=\"ls1\">) </span></span></div></td><td class=\"c x286 y35f7 w41 hfe\"><div class=\"t m0 x112 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35f7 w24 hfe\"><div class=\"t m0 x1ad hfb y28f3 ff3f fsba fc4 sc0 ls1ea ws1\">22<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35f7 w24 hfe\"><div class=\"t m0 x1 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y35f8 w42 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">Revaluations i<span class=\"_ _1\"></span>ncluded in income st<span class=\"_ _1\"></span>atement<span class=\"ls1\"> </span></div></td><td class=\"c x296 y35f8 w24 hfd\"><div class=\"t m0 x19e hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(52)<span class=\"ls1\"> </span></div></td><td class=\"c x297 y35f8 w24 hfd\"><div class=\"t m0 x19e hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">189<span class=\"ls1\"> </span></div></td><td class=\"c x298 y35f8 w43 hfd\"><div class=\"t m0 x13a hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x286 y35f8 w41 hfd\"><div class=\"t m0 x112 hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">148<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35f8 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35f8 w24 hfd\"><div class=\"t m0 x1a3 hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">148<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y35de w117 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>tenant inc<span class=\"_ _1\"></span>entives and <span class=\"_ _1\"></span><span class=\"ls1e6\">contracted<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y35f9 w109 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1ee ws1\">rent uplift balances<span class=\"_ _216\"> </span></div></td><td class=\"c x296 y35fa w24 h102\"><div class=\"t m0 x1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x297 y35fa w24 h102\"><div class=\"t m0 x1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x298 y35fa w43 h102\"><div class=\"t m0 x6d hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x286 y35fa w41 h102\"><div class=\"t m0 x85 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x1fc y35fa w24 h102\"><div class=\"t m0 x1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35fa w24 h102\"><div class=\"t m0 x1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td class=\"c x1f9 y35fb w42 hfd\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1d9 ws1\">Carrying value at<span class=\"_ _1\"></span> 31 March 202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td class=\"c x296 y35fb w24 hfd\"><div class=\"t m0 x196 hfb y28e8 ff3f fsba fc4 sc0 ls1ea ws1\">2,<span class=\"ls1dc\">173</span><span class=\"ls1dc\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x297 y35fb w24 hfd\"><div class=\"t m0 x178 hfb y28e8 ff3f fsba fc4 sc0 ls1dd ws1\">3,566<span class=\"ls1\"> </span></div></td><td class=\"c x298 y35fb w43 hfd\"><div class=\"t m0 x1ad hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">3<span class=\"ls1e0\">91</span> </div></td><td class=\"c x286 y35fb w41 hfd\"><div class=\"t m0 x1bc hfb y28e8 ff3f fsba fc4 sc0 ls1e0 ws1\">6,130<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35fb w24 hfd\"><div class=\"t m0 x192 hfb y28e8 ff3f fsba fc4 sc0 ls1d8 ws1\">44<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35fb w24 hfd\"><div class=\"t m0 x1b0 hfb y28e8 ff3f fsba fc4 sc0 ls1e0 ws1\">6,174<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35fc w42 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabilities <span class=\"_ _1\"></span>(Notes 14 and 15)<span class=\"_ _216\"> </span></div><div class=\"t m0 xe9 hff y2cab ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 xd1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x1fd y35fc w24 hfe\"><div class=\"t m0 x192 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(111)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35fd w42 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1dd ws1\">Less valuation surplus on r<span class=\"_ _1\"></span>ight<span class=\"ls1\">-<span class=\"ls1e0\">of</span>-</span>use assets<span class=\"_ _216\"> </span></div><div class=\"t m0 xa1 hff y2d17 ff44 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x15 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x1fd y35fd w24 hfd\"><div class=\"t m0 x1a4 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35fe w42 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation sur<span class=\"_ _1\"></span>plus on trading<span class=\"_ _1\"></span> <span class=\"ls1eb\">properties</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x1fd y35fe w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y35ff w42 h102\"><div class=\"t m0 x0 hfb y2c1b ff42 fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation at </div><div class=\"t m0 x0 hfb y2c1c ff42 fsba fc4 sc0 ls1dd ws1\">31<span class=\"ls1\"> <span class=\"ls20b\">March 202</span>5 <span class=\"ls208\">attributable to <span class=\"_ _1\"></span>shareholders<span class=\"ls1\"> </span></span></span></div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x1fd y35ff w24 h102\"><div class=\"t m0 x1a7 hfb y2c1d ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs2c4\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">Included within p<span class=\"_ _0\"></span>roperty purchases <span class=\"ls1fb\">of \u00a3730m <span class=\"ls1f4\">are seven retail parks acquired for consideration of \u00a3441m </span>on 2 October 2024. <span class=\"_ _1\"></span>The </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f3 ws1 gs2c5\">retail park acquisition was funded by the eq<span class=\"_ _0\"></span>uity placing disclosed in Note 19.<span class=\"ls1\"> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fe ws1 gs2c6\">2.<span class=\"ls1\"> <span class=\"ls1fb\">The \u00a33m difference between lea<span class=\"_ _1\"></span>se liabilities of \u00a3111m and <span class=\"_ _1\"></span>\u00a3114m per Notes 14 and 15 relates <span class=\"_ _1\"></span><span class=\"ls1f3\">to a lease liability where the right<span class=\"ls1\">-<span class=\"ls1fb\">of</span>-<span class=\"ls200\">use </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f4 ws1 gs2c7\">asset is classified as property, plant and <span class=\"_ _1\"></span>equipment and premiums associated with the Norton Folgate head lease.<span class=\"ls1\"> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls203 ws1 gs2c8\">3.<span class=\"ls1\"> <span class=\"ls201\">Relat<span class=\"_ _1\"></span>es to properties held un<span class=\"_ _1\"></span>der leasing agreements. The <span class=\"_ _1\"></span>fair value of right<span class=\"ls1\">-<span class=\"ls1fb\">of</span>-<span class=\"ls200\">use asset<span class=\"_ _1\"></span>s is de<span class=\"ls1f3\">termined by calculating the present </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fa ws1 gs2c9\">value of net rental cash flows over t<span class=\"_ _1\"></span>he term of the lease agreements. IFRS 16 right<span class=\"ls1\">-<span class=\"ls1fb\">of</span>-<span class=\"ls200\">use assets are not<span class=\"_ _1\"></span> externally valued, their fair </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fa ws1 gs2ca\">values are determined by management and are therefore not incl<span class=\"_ _1\"></span>uded in the Group prop<span class=\"ls1fe\">erty portfolio valuation of \u00a36,065m above.</span><span class=\"ls1fe\"><span class=\"ls1\"> </span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs2cc\">Property valuation<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2cd\">The different va<span class=\"_ _1\"></span>luation method levels <span class=\"_ _1\"></span>are defined below:<span class=\"ls1\"> </span></div><div class=\"c w29 hfd gs2ce\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1dd ws1\">Level 1:<span class=\"ls1\"> </span></div></div><div class=\"c w44 hfd gs2cf\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls204 ws1\">Quoted pric<span class=\"_ _1\"></span>es (unadjust<span class=\"_ _1\"></span>ed) in acti<span class=\"_ _1\"></span>ve markets f<span class=\"_ _1\"></span>or identical<span class=\"_ _1\"></span> assets or<span class=\"_ _1\"></span> liabili<span class=\"_ _1\"></span>ties.<span class=\"ls1\"> </span></div></div><div class=\"c w29 h102 gs2d0\"><div class=\"t m0 x0 hfb y2909 ff42 fsba fc4 sc0 ls1dd ws1\">Level 2:<span class=\"ls1\"> </span></div></div><div class=\"c w44 h102 gs2d1\"><div class=\"t m0 x0 hfb y2909 ff42 fsba fc4 sc0 ls205 ws1\">Inputs <span class=\"ls1eb\">other than quoted prices i<span class=\"_ _1\"></span>ncluded within Level 1 <span class=\"_ _1\"></span>that are observable for<span class=\"_ _1\"></span> the asset or li<span class=\"_ _1\"></span>ability, either di<span class=\"_ _1\"></span>rectly </span></div><div class=\"t m0 x0 hfb y290a ff42 fsba fc4 sc0 ls1da ws1\">(i.e. as prices) or indirectly (i.e. derived from prices).<span class=\"ls1\"> </span></div></div><div class=\"c w29 hfe gs2d2\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls1dd ws1\">Level 3:<span class=\"ls1\"> </span></div></div><div class=\"c w44 hfe gs2d3\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls205 ws1\">Inputs for the asse<span class=\"_ _0\"></span>t or liability that are not<span class=\"_ _0\"></span> based on observa<span class=\"_ _0\"></span>ble market <span class=\"ls1d8\">data (unobservable input<span class=\"_ _1\"></span>s).<span class=\"ls1\"> </span></span></div></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2d4\">These levels ar<span class=\"_ _1\"></span>e specified in acc<span class=\"_ _1\"></span>ordance with IFRS 13 \u2018Fa<span class=\"_ _1\"></span>ir Value Measurement\u2019. <span class=\"_ _1\"></span>Property valuations a<span class=\"_ _1\"></span>re inherently </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs2d5\">subjective as they are made on the basis of assumptions made by the valuer which may not prove to be accurate. F<span class=\"ls220\">or </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs2d6\">these reasons, and con<span class=\"_ _0\"></span>sistent with EPRA\u2019s guidanc<span class=\"_ _0\"></span>e, we have classified the valuations o<span class=\"_ _0\"></span>f our property portfolio as Level </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs2d7\">3 as defined by IFRS 1<span class=\"_ _1\"></span>3. The inputs to the val<span class=\"_ _1\"></span>uations are defined as \u2018unobser<span class=\"_ _1\"></span>vable\u2019 by IFRS 13. These key <span class=\"_ _1\"></span>unobservable </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2d8\">inputs are n<span class=\"_ _0\"></span>e<span class=\"ls222\">t equivalent yield and estima<span class=\"_ _0\"></span>ted rental values for investmen<span class=\"_ _0\"></span>t properties, and costs to com<span class=\"_ _0\"></span>plete for </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs2d9\">development propertie<span class=\"_ _1\"></span>s. Further analysi<span class=\"_ _1\"></span>s and sensitivi<span class=\"_ _1\"></span>ty disclosures of <span class=\"_ _1\"></span>these key unobservable <span class=\"_ _1\"></span>inputs have been </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2da\">included o<span class=\"_ _0\"></span>n the followin<span class=\"_ _0\"></span>g pages. Th<span class=\"_ _0\"></span>ere were <span class=\"ls221\">no transfers between levels in the <span class=\"_ _1\"></span>year. <span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2db\">The Group\u2019s total <span class=\"_ _1\"></span>property portfolio <span class=\"_ _1\"></span>was valued by external <span class=\"_ _1\"></span>valuers on the basis<span class=\"_ _1\"></span> of fair value,<span class=\"_ _1\"></span> in accordance with <span class=\"ls222\">the </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2dc\">latest versio<span class=\"_ _0\"></span>n of the RICS<span class=\"_ _0\"></span> Valuation <span class=\"ls1\">\u2013<span class=\"_ _0\"></span> <span class=\"ls20d\">Global Sta<span class=\"_ _1\"></span>ndards (incor<span class=\"_ _1\"></span>porating th<span class=\"_ _1\"></span>e Internati<span class=\"_ _1\"></span>onal Valuat<span class=\"ls1fc\">ion Standards) and<span class=\"_ _0\"></span> the </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24c ws1 gs2dd\">UK<span class=\"ls1\"> <span class=\"ls221\">national supplement (the \u201cRed <span class=\"_ _1\"></span>Book\u201d)<span class=\"ls235\">, publishe<span class=\"_ _0\"></span>d by The R<span class=\"_ _0\"></span>oyal Institutio<span class=\"_ _0\"></span>n of Charte<span class=\"_ _0\"></span>red Survey<span class=\"_ _0\"></span>ors.<span class=\"ls1\"> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2de\">The information provi<span class=\"_ _1\"></span>ded to the valuers,<span class=\"_ _1\"></span> and the assumptions and v<span class=\"_ _1\"></span>aluation models used by t<span class=\"_ _1\"></span>he valuers, are r<span class=\"_ _1\"></span>eviewed </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs2df\">by the property p<span class=\"ls220\">or<span class=\"_ _1\"></span>tfolio team, the <span class=\"_ _1\"></span>Head of Real Estate<span class=\"ls1\"> <span class=\"ls225\">and Investment<span class=\"ls235\">, the Chief Financia<span class=\"_ _0\"></span>l Officer and<span class=\"_ _0\"></span> the Chief </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24a ws1 gs2e0\">Executive. The <span class=\"_ _1\"></span>valuers meet with t<span class=\"_ _1\"></span>he external audit<span class=\"_ _1\"></span>or and also present <span class=\"_ _1\"></span>directly to t<span class=\"_ _1\"></span>he Audit Committee at <span class=\"_ _1\"></span>the interim </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs2e1\">and year<span class=\"ls1\"> <span class=\"ls223\">end review of results</span> <span class=\"ls220\">on a r<span class=\"_ _1\"></span>otat<span class=\"ls1fc\">ional basis<span class=\"ls235\">. F<span class=\"_ _0\"></span>urther deta<span class=\"_ _0\"></span>ils of the Au<span class=\"_ _0\"></span>dit Comm<span class=\"_ _0\"></span>ittee\u2019s respon<span class=\"_ _0\"></span>sibilities in rela<span class=\"_ _0\"></span>tion </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs2e2\">to valuations can be foun<span class=\"_ _0\"></span>d in the Report of the Aud<span class=\"_ _0\"></span>it Committee on pages<span class=\"_ _0\"></span> <span class=\"ls220\">93 </span>to <span class=\"ls220\">99.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs2e3\">Investmen<span class=\"_ _0\"></span>t properties, exc<span class=\"_ _0\"></span>luding propert<span class=\"_ _0\"></span>ies held for dev<span class=\"_ _0\"></span>elopment, are<span class=\"_ _0\"></span> valued by ado<span class=\"_ _0\"></span>pting t<span class=\"ls221\">he \u2018investment method\u2019 of </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs2e4\">valuation. This approach i<span class=\"_ _1\"></span>nvolves applying <span class=\"ls1\">c<span class=\"ls225\">apitali</span>s<span class=\"ls225\">ation</span> </span>yields to current<span class=\"_ _1\"></span> and future rental streams net <span class=\"_ _1\"></span>of income voids </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs2e5\">arising from vacancies or r<span class=\"_ _1\"></span>ent<span class=\"ls1\">-<span class=\"ls231\">free period<span class=\"_ _0\"></span>s and associated run<span class=\"_ _0\"></span>ning costs. These </span>c</span>apitali<span class=\"ls1\">s</span>ation<span class=\"ls1\"> <span class=\"ls223\">yields and fu<span class=\"ls222\">ture rental </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs2e6\">values are based on comparable property <span class=\"_ _1\"></span>and leasing transactions in t<span class=\"_ _1\"></span>he market using the valuers\u2019 prof<span class=\"_ _1\"></span>essional </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2e7\">judgeme<span class=\"_ _0\"></span>nt and mark<span class=\"_ _0\"></span>et observat<span class=\"_ _0\"></span>ion. Other fac<span class=\"_ _0\"></span>tors taken in<span class=\"_ _0\"></span>to account in<span class=\"_ _0\"></span> the valuatio<span class=\"_ _0\"></span>ns include the<span class=\"_ _0\"></span> tenure of th<span class=\"_ _0\"></span>e </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs2e8\">property, tenancy <span class=\"_ _1\"></span>deta<span class=\"ls1fc\">ils and gro<span class=\"_ _0\"></span>und and stru<span class=\"_ _0\"></span>ctural cond<span class=\"_ _0\"></span>itions.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs2e9\">In the case of<span class=\"_ _0\"></span> ongoing dev<span class=\"_ _0\"></span>elopments, th<span class=\"_ _0\"></span>e approach ap<span class=\"_ _0\"></span>plied is the \u2018residu<span class=\"_ _0\"></span>al method\u2019 of v<span class=\"_ _0\"></span>aluation, whic<span class=\"_ _0\"></span>h is the investm<span class=\"_ _0\"></span>ent </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs2ea\">method <span class=\"_ _1\"></span>of valua<span class=\"_ _1\"></span>tion as<span class=\"_ _1\"></span> descri<span class=\"_ _1\"></span>bed above<span class=\"_ _1\"></span>, with <span class=\"_ _1\"></span>a deduct<span class=\"_ _1\"></span>ion for<span class=\"_ _1\"></span> all <span class=\"_ _1\"></span>costs n<span class=\"_ _1\"></span>ecessary <span class=\"_ _1\"></span>to compl<span class=\"_ _1\"></span>ete <span class=\"ls222\">the development, </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2eb\">including a<span class=\"_ _0\"></span> notional finan<span class=\"_ _0\"></span>ce cost, tog<span class=\"_ _0\"></span>ether with a fu<span class=\"_ _0\"></span>rther allowa<span class=\"_ _0\"></span>nce for rema<span class=\"_ _0\"></span>ining risk. Pro<span class=\"_ _0\"></span>perties held f<span class=\"_ _0\"></span>or developm<span class=\"_ _0\"></span>ent </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs2ec\">are generally valued by adopting <span class=\"_ _1\"></span>the higher of the residual method of <span class=\"_ _1\"></span>valuation, allowing for all<span class=\"_ _1\"></span> associated risks, or<span class=\"ls1\"> <span class=\"ls222\">the </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2ed\">investmen<span class=\"_ _0\"></span>t method o<span class=\"_ _0\"></span>f valuation fo<span class=\"_ _0\"></span>r the existing a<span class=\"_ _0\"></span>sset.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2ee\">The valuers of t<span class=\"_ _1\"></span>he Group\u2019s property port<span class=\"_ _1\"></span>folio have a working <span class=\"_ _1\"></span>knowledge of the various <span class=\"_ _1\"></span>ways that sustainabil<span class=\"_ _1\"></span>ity and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24a ws1 gs2ef\">Environmental, Soc<span class=\"_ _1\"></span>ial and Governance f<span class=\"_ _1\"></span>actors can impact val<span class=\"_ _1\"></span>ue and have considere<span class=\"_ _1\"></span>d<span class=\"ls1\"> <span class=\"ls222\">these, and<span class=\"_ _0\"></span> how market </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs2f0\">participants a<span class=\"_ _1\"></span>re reflecting th<span class=\"_ _1\"></span>ese in their pri<span class=\"_ _1\"></span>cing, in arri<span class=\"_ _1\"></span>ving at their Opi<span class=\"_ _1\"></span>nion of Value and r<span class=\"_ _1\"></span>esulting valuation<span class=\"_ _1\"></span>s as at the </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs2f1\">balance sheet dat<span class=\"_ _1\"></span>e. These may be:<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs2f2\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls234\">physical risks; <span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs2f3\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls222\">transition risks related to p<span class=\"_ _0\"></span>olicy or legislation to achi<span class=\"ls223\">eve sustainability and Environmental,<span class=\"_ _1\"></span> Social and Governance </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs2f4\">targets; and<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff4d fsb8 fc11 sc0 ls1 ws1 gs2f5\">\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls222\">risks reflecting the view<span class=\"_ _0\"></span>s and needs of market pa<span class=\"_ _0\"></span>rticipants.<span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls244 ws1 gs2f6\">Where <span class=\"_ _1\"></span>avail<span class=\"_ _1\"></span>able,<span class=\"_ _1\"></span> t<span class=\"ls221\">he Group has shared <span class=\"_ _1\"></span>physical climate and transi<span class=\"_ _1\"></span>tional risk assessments wit<span class=\"_ _1\"></span>h the valuers which they </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs2f7\">have reviewed and taken into <span class=\"_ _1\"></span>consideration to the ext<span class=\"_ _1\"></span>ent that current market par<span class=\"_ _1\"></span>ticipants would.<span class=\"ls1\"> <span class=\"ls249\">For further <span class=\"_ _1\"></span>details, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs2f8\">refer to the Sustainability section o<span class=\"_ _0\"></span>f the Strategic Report on pag<span class=\"_ _0\"></span>es <span class=\"ls221\">36 </span>to <span class=\"ls24a\">43.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls25d ws1 gs2f9\">Valuers obse<span class=\"_ _1\"></span>rve, assess <span class=\"_ _1\"></span>and monitor evi<span class=\"_ _1\"></span>dence from market<span class=\"_ _1\"></span> ac<span class=\"ls222\">tivities, including market (investor) sen<span class=\"_ _0\"></span>timent on issues </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs2fa\">such as longer term obsolescence and, where known, future Environmental, Social and Governance related risks and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2fb\">issues whic<span class=\"_ _0\"></span>h may includ<span class=\"_ _0\"></span>e, for exam<span class=\"_ _0\"></span>ple, the mark<span class=\"_ _0\"></span>et\u2019s approa<span class=\"_ _0\"></span>ch to capital e<span class=\"_ _0\"></span>xpenditure<span class=\"_ _0\"></span> r<span class=\"ls223\">equired to maintain t<span class=\"_ _1\"></span>he utility </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2fc\">of<span class=\"ls1\"> <span class=\"ls222\">the asset. In the absence of re<span class=\"_ _0\"></span>liable benchmarking data a<span class=\"_ _0\"></span>nd indices for estimating costs, spe<span class=\"_ _0\"></span>cialist advice on cost </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs2fd\">management<span class=\"_ _1\"></span> may be <span class=\"_ _1\"></span>require<span class=\"_ _1\"></span>d which <span class=\"_ _1\"></span>is usua<span class=\"_ _1\"></span>lly agr<span class=\"_ _1\"></span>eed with<span class=\"_ _1\"></span> the va<span class=\"_ _1\"></span>luer i<span class=\"_ _1\"></span>n the t<span class=\"_ _1\"></span>erms of <span class=\"_ _1\"></span>engagement<span class=\"_ _1\"></span> and wit<span class=\"_ _1\"></span>hout<span class=\"ls1\"> <span class=\"ls236\">which </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs2fe\">reasonable estimates/a<span class=\"_ _0\"></span>ssumptions may be n<span class=\"_ _0\"></span>eeded to properly reflect ma<span class=\"_ _0\"></span>rket expectations in arr<span class=\"ls1fc\">iving<span class=\"_ _0\"></span> at the Opinio<span class=\"_ _0\"></span>n </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2ff\">of<span class=\"ls1\"> <span class=\"ls25d\">Value. </span></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs301\">A breakdown <span class=\"_ _1\"></span>of valuati<span class=\"_ _1\"></span>ons split <span class=\"_ _1\"></span>between the <span class=\"_ _1\"></span>Group and it<span class=\"_ _1\"></span>s share of<span class=\"_ _1\"></span> joint ven<span class=\"_ _1\"></span>tures is <span class=\"_ _1\"></span>shown <span class=\"ls234\">below:<span class=\"ls1\"> </span></span></div><div class=\"gs2a0\"><table class=\"s w118 h168\" id=\"_c86ed175-1dac-4431-b282-9ff59f51bb59\"><tr><td></td><td></td><td class=\"c x1e5 y3600 w22 hf8\"><div class=\"t m0 x163 hf9 y293b ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y3600 w22 hf8\"><div class=\"t m0 x163 hf9 y293b ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"c x299 y3601 w119 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls27d ws1\">Joint<span class=\"_ _216\"> </span></div></td><td></td><td></td><td class=\"c x29a y3601 w11a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27d ws1\">Joint<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x29b y3602 w11b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Group</div></td><td class=\"c x29c y3602 w11c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1cf ws1\">ventures<span class=\"_ _216\"> </span></div></td><td class=\"c x1ed y3602 w8a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x29d y3602 w11d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Group</div></td><td class=\"c x225 y3602 w11e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">ventures<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y3602 wcf h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f3 y3603 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f4 y3603 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f5 y3603 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y3603 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y3603 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3603 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3604 w33 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">Knight Frank LLP<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3604 w24 hfd\"><div class=\"t m0 x19a hfb y2c1d ff42 fsba fc11 sc0 ls1dd ws1\">765<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3604 w24 hfd\"><div class=\"t m0 x1a2 hfb y2c1d ff42 fsba fc11 sc0 ls1dd ws1\">78<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3604 w24 hfd\"><div class=\"t m0 x19a hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">843<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3604 w24 hfd\"><div class=\"t m0 x19e hfb y2c1d ff3f fsba fc4 sc0 ls208 ws1\">713<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3604 w24 hfd\"><div class=\"t m0 x1a2 hfb y2c1d ff3f fsba fc4 sc0 ls1e0 ws1\">69<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3604 w24 hfd\"><div class=\"t m0 x19a hfb y2c1d ff3f fsba fc4 sc0 ls208 ws1\">782<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3605 w33 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1d9 ws1\">CBRE<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3605 w24 hfe\"><div class=\"t m0 x1a5 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">2,497<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3605 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">133<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3605 w24 hfe\"><div class=\"t m0 x1a5 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">2,630<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3605 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff3f fsba fc4 sc0 ls1ea ws1\">2,368<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3605 w24 hfe\"><div class=\"t m0 x19e hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">139<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3605 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">2,507<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3606 w33 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1de ws1\">Jones Lang LaSalle<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3606 w24 hfd\"><div class=\"t m0 x1a5 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,848<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3606 w24 hfd\"><div class=\"t m0 x19d hfb y29a1 ff42 fsba fc11 sc0 ls1eb ws1\">693<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3606 w24 hfd\"><div class=\"t m0 x178 hfb y29a1 ff42 fsba fc11 sc0 ls1dd ws1\">3,541<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3606 w24 hfd\"><div class=\"t m0 x178 hfb y29a1 ff3f fsba fc4 sc0 ls1ea ws1\">2,753<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3606 w24 hfd\"><div class=\"t m0 x19a hfb y29a1 ff3f fsba fc4 sc0 ls1e0 ws1\">632<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3606 w24 hfd\"><div class=\"t m0 x178 hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">3,385<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3607 w33 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1d9 ws1\">Cushman &amp; Wakefield<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3607 w24 hfe\"><div class=\"t m0 x19d hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">206<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3607 w24 hfe\"><div class=\"t m0 x1a7 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">2,842<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3607 w24 hfe\"><div class=\"t m0 x1a5 hfb y2914 ff42 fsba fc11 sc0 ls1dd ws1\">3,048<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3607 w24 hfe\"><div class=\"t m0 x19e hfb y2914 ff3f fsba fc4 sc0 ls1ea ws1\">231<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3607 w24 hfe\"><div class=\"t m0 x1a6 hfb y2914 ff3f fsba fc4 sc0 ls1ea ws1\">2,581<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3607 w24 hfe\"><div class=\"t m0 x1a6 hfb y2914 ff3f fsba fc4 sc0 ls208 ws1\">2,812<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3608 w33 h102\"><div class=\"t m0 x0 hfb y29a8 ff42 fsba fc4 sc0 ls1e0 ws1\">Total property portfol<span class=\"_ _1\"></span>io valuation attributabl<span class=\"_ _1\"></span>e </div><div class=\"t m0 x0 hfb y29a9 ff42 fsba fc4 sc0 ls1e8 ws1\">to<span class=\"ls1\"> <span class=\"ls289\">shareholders<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 xe7 hff y2d54 ff43 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x69 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1e5 y3608 w24 h102\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">6,316<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3608 w24 h102\"><div class=\"t m0 x1a5 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">3,746<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3608 w24 h102\"><div class=\"t m0 x1a1 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">10,062<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3608 w24 h102\"><div class=\"t m0 x1a5 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3608 w24 h102\"><div class=\"t m0 x1a6 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">3,421<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3608 w24 h102\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">9,486<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs302\">1. <span class=\"_ _24\"> </span><span class=\"ls1fb\">The \u00a3</span>1<span class=\"ls1fe\">76<span class=\"ls1f5\">m <span class=\"ls1fc\">(2024/25: \u00a396m) <span class=\"ls1f2\">difference between the total property port<span class=\"_ _1\"></span>folio valuation for joint v<span class=\"_ _1\"></span>entures of \u00a3<span class=\"ls1\">3,<span class=\"ls1fe\">746<span class=\"ls1f5\">m <span class=\"ls1fc\">(202</span></span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fb ws1 gs303\">\u00a33,<span class=\"ls1f2\">421<span class=\"ls1\">m<span class=\"ls1fc\">) and the total investment and trading properties<span class=\"_ _0\"></span> of \u00a3</span>3,<span class=\"ls203\">570<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span></span></span>\u00a33,<span class=\"ls203\">325<span class=\"ls1\">m<span class=\"ls1fc\">) disclosed in Note 11 relates to \u00a3<span class=\"ls1fd\">191<span class=\"ls1f5\">m </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fc ws1 gs304\">(2024/25: \u00a3115m) <span class=\"ls1fb\">of<span class=\"ls1\"> <span class=\"ls1f2\">property <span class=\"ls1f9\">included within inv<span class=\"_ _0\"></span>estments in joint ven<span class=\"_ _0\"></span>tures, </span></span>\u00a3<span class=\"ls1fd\">19<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a31</span>7<span class=\"ls1f5\">m) of headlease<span class=\"_ _1\"></span>s and a \u00a3<span class=\"ls1\">4</span>m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs305\">\u00a32m <span class=\"ls1f2\">deficit<span class=\"ls1fc\">) trading property <span class=\"ls202\">surplus<span class=\"ls1f7\">, <span class=\"ls1f4\">all at Group</span></span></span></span></span> <span class=\"ls202\">share. </span> </div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls281 ws1 gs306\">Information abo<span class=\"_ _1\"></span>ut fair value measurem<span class=\"_ _1\"></span>ents using unobserva<span class=\"_ _1\"></span>ble inputs (Level 3) <span class=\"ls23f\">as at<span class=\"ls1\"> <span class=\"ls282\">31 March 2<span class=\"ls28a\">02</span></span>6 </span></span></div><div class=\"gs307\"><table class=\"s w11f h169\" id=\"_3d8be9cf-25bb-4f32-9526-ed02f4eb90c2\"><tr><td></td><td></td><td></td><td></td><td class=\"c x29e y3609 w47 hf8\"><div class=\"t m0 x19d hf9 y28d5 ff3e fsb9 fc11 sc0 ls215 ws1\">ERV per sq ft<span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x29f y3609 w48 hf8\"><div class=\"t m0 x1b0 hf9 y28d5 ff3e fsb9 fc11 sc0 ls215 ws1\">Equivalent yield<span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x2a0 y3609 w48 hf8\"><div class=\"t m0 x1b1 hf9 y28d5 ff3e fsb9 fc11 sc0 ls1d3 ws1\">Costs to complete per sq ft<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x2a1 y360a w120 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Fair<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2a2 y360b w121 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">value<span class=\"ls1\"> </span>at<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2a3 y360c w122 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">31<span class=\"ls1\"> <span class=\"ls218\">March<span class=\"_ _216\"> </span></span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2a4 y360d w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span></div></td><td class=\"c x2a5 y360e w123 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d1 ws1\">Valuation</div></td><td class=\"c x2a6 y360e w124 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls218 ws1\">Min</div></td><td class=\"c x2a7 y360e w125 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls218 ws1\">Max</div></td><td class=\"c x2a8 y360e w126 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Average<span class=\"_ _216\"> </span></div></td><td class=\"c x2a9 y360e w127 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls218 ws1\">Min</div></td><td class=\"c x2aa y360e w125 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls218 ws1\">Max</div></td><td class=\"c x2ab y360e w126 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Average<span class=\"_ _216\"> </span></div></td><td class=\"c x2ac y360e w127 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls218 ws1\">Min</div></td><td class=\"c x2ad y360e w125 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls218 ws1\">Max</div></td><td class=\"c x2ae y360e w126 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Average<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y360f w45 h11e\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls205 ws1\">Investment<span class=\"ls1\"> </span></div></td><td class=\"c x2af y3610 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m</div></td><td class=\"c x2a5 y3610 w128 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls271 ws1\">technique<span class=\"_ _216\"> </span></div></td><td class=\"c x2b0 y3610 w129 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b1 y3610 w129 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b2 y3610 w129 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b3 y3610 w12a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">%<span class=\"_ _216\"> </span></div></td><td class=\"c x2b4 y3610 w12a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">%<span class=\"_ _216\"> </span></div></td><td class=\"c x2b5 y3610 w12a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">%<span class=\"_ _216\"> </span></div></td><td class=\"c x2b6 y3610 w12b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b7 y3610 w12b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b8 y3610 w12b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3611 w45 h102\"><div class=\"t m0 x0 hfb y29a8 ff3f fsba fc4 sc0 ls1d9 ws1\">Campuses<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x2b9 y3612 w12c h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Investment<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"c x2bb y3614 w12d h16a\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc11 sc0 ls1d7 ws1\">2,18<span class=\"ls1\">5</span></div><div class=\"t m0 x2ba hfb y3613 ff3f fsba fc4 sc0 ls1ef ws1\">methodolo<span class=\"_ _1\"></span>gy<span class=\"_ _216\"> </span></div></td><td class=\"c x29e y3611 w4a h102\"><div class=\"t m0 x194 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y3611 w4b h102\"><div class=\"t m0 x198 hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">99<span class=\"ls1\"> </span></div></td><td class=\"c x2bd y3611 w4b h102\"><div class=\"t m0 x198 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">70<span class=\"ls1\"> </span></div></td><td class=\"c x29f y3611 w4b h102\"><div class=\"t m0 x1a6 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x2be y3611 w4b h102\"><div class=\"t m0 x1a6 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x2bf y3611 w4b h102\"><div class=\"t m0 x1a6 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x2a0 y3611 w4b h102\"><div class=\"t m0 x196 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2c0 y3611 w4b h102\"><div class=\"t m0 x1ae hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">171<span class=\"ls1\"> </span></div></td><td class=\"c x2c1 y3611 w4b h102\"><div class=\"t m0 x198 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">36<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y3615 w12e h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">Retail &amp; <span class=\"ls1dd\">London<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x2b9 y3615 w12c h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Investment<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3616 w12f h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1e2 ws1\">Urban Logisti<span class=\"_ _1\"></span>cs<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x2c3 y3616 w130 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc11 sc0 ls1dd ws1\">3,807</div><div class=\"t m0 x2c2 hfb y3479 ff3f fsba fc4 sc0 ls1ef ws1\">methodolo<span class=\"_ _1\"></span>gy<span class=\"_ _216\"> </span></div></td><td class=\"c x29e y3617 w4a h102\"><div class=\"t m0 x1a6 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x2bc y3617 w4b h102\"><div class=\"t m0 x198 hfb y2967 ff42 fsba fc11 sc0 ls1e9 ws1\">43<span class=\"ls1\"> </span></div></td><td class=\"c x2bd y3617 w4b h102\"><div class=\"t m0 x1a7 hfb y2967 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x29f y3617 w4b h102\"><div class=\"t m0 x1a6 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x2be y3617 w4b h102\"><div class=\"t m0 x1a7 hfb y2967 ff42 fsba fc11 sc0 ls1df ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x2bf y3617 w4b h102\"><div class=\"t m0 x1a6 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x2a0 y3617 w4b h102\"><div class=\"t m0 x196 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2c0 y3617 w4b h102\"><div class=\"t m0 x198 hfb y2967 ff42 fsba fc11 sc0 ls1dd ws1\">78<span class=\"ls1\"> </span></div></td><td class=\"c x2c1 y3617 w4b h102\"><div class=\"t m0 x1a6 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td></tr><tr><td class=\"c x1f9 y3618 w45 h102\"><div class=\"t m0 x0 hfb y29b0 ff3f fsba fc4 sc0 ls20a ws1\">Developments<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x2c4 y3619 w131 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">Residual<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"c x2c6 y361a w132 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc11 sc0 ls1d7 ws1\">294</div><div class=\"t m0 x2c5 hfb y3479 ff3f fsba fc4 sc0 ls1ef ws1\">methodolo<span class=\"_ _1\"></span>gy<span class=\"_ _216\"> </span></div></td><td class=\"c x29e y3618 w4a h102\"><div class=\"t m0 x198 hfb y28f3 ff42 fsba fc11 sc0 ls1dd ws1\">35<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y3618 w4b h102\"><div class=\"t m0 x194 hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">117<span class=\"ls1\"> </span></div></td><td class=\"c x2bd y3618 w4b h102\"><div class=\"t m0 x198 hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">89<span class=\"ls1\"> </span></div></td><td class=\"c x29f y3618 w4b h102\"><div class=\"t m0 x1a6 hfb y28f3 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x2be y3618 w4b h102\"><div class=\"t m0 x1a6 hfb y28f3 ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x2bf y3618 w4b h102\"><div class=\"t m0 x1a6 hfb y28f3 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x2a0 y3618 w4b h102\"><div class=\"t m0 x1a1 hfb y28f3 ff42 fsba fc11 sc0 ls1e9 ws1\">416<span class=\"ls1\"> </span></div></td><td class=\"c x2c0 y3618 w4b h102\"><div class=\"t m0 x1b8 hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">1,429<span class=\"ls1\"> </span></div></td><td class=\"c x2c1 y3618 w4b h102\"><div class=\"t m0 x1b8 hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">1,072<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y361b w45 hfe\"><div class=\"t m0 x0 hfb y28f5 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x2c7 y361b w29 hfe\"><div class=\"t m0 x1b5 hfb y28f5 ff42 fsba fc11 sc0 ls1eb ws1\">6,286<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y361c w133 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1e0 ws1\">Trading<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y361d w134 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">properties<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y361e w135 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1e6 ws1\">at fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x2c7 y361f w29 h11f\"><div class=\"t m0 x1a6 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3620 w136 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls20a ws1\">Group <span class=\"ls1d8\">property<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3621 w137 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1d8 ws1\">portfolio<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3622 w138 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls208 ws1\">valuation<span class=\"_ _216\"> </span></div></td><td class=\"c x2c7 y3623 w29 h100\"><div class=\"t m0 x1ab hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">6,316<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table></div>Information abo<span class=\"_ _1\"></span>ut fair value measurem<span class=\"_ _1\"></span>ents using unobserva<span class=\"_ _1\"></span>ble inputs (Level 3) <span class=\"ls23f\">as at<span class=\"ls1\"> <span class=\"ls282\">31 March 20</span>25 </span></span><table class=\"s w11f h16b\" id=\"_b9801ee8-1e8f-499d-96d6-f3867ef7d86c\"><tr><td></td><td></td><td></td><td></td><td class=\"c x29e y3624 w47 hf8\"><div class=\"t m0 x19a hf9 y293b ff3d fsb9 fc4 sc0 ls215 ws1\">ERV per sq ft<span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x29f y3624 w48 hf8\"><div class=\"t m0 x1a6 hf9 y293b ff3d fsb9 fc4 sc0 ls215 ws1\">Equivalent yield<span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x2a0 y3624 w48 hf8\"><div class=\"t m0 x191 hf9 y293b ff3d fsb9 fc4 sc0 ls1d3 ws1\">Costs to complete per sq f<span class=\"_ _1\"></span>t<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x2a1 y3625 w139 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Fair<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2a2 y3626 w13a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">value<span class=\"ls1\"> <span class=\"ls1d5\">at<span class=\"_ _216\"> </span></span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2a3 y3627 w13b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">31<span class=\"ls1\"> <span class=\"ls218\">March<span class=\"_ _216\"> </span></span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2c8 y3628 w13c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x2c9 y3628 w13d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Valuation</div></td><td class=\"c x2a6 y3628 w13e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls218 ws1\">Min</div></td><td class=\"c x2a7 y3628 w13f h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls218 ws1\">Max</div></td><td class=\"c x2ca y3628 w140 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Average<span class=\"_ _216\"> </span></div></td><td class=\"c x2a9 y3628 w13e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls218 ws1\">Min</div></td><td class=\"c x2aa y3628 w141 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls218 ws1\">Max</div></td><td class=\"c x2cb y3628 w140 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Average<span class=\"_ _216\"> </span></div></td><td class=\"c x2ac y3628 w13e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls218 ws1\">Min</div></td><td class=\"c x2ad y3628 w141 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls218 ws1\">Max</div></td><td class=\"c x2cc y3628 w140 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Average<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3629 w45 h11e\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls205 ws1\">Investment<span class=\"ls1\"> </span></div></td><td class=\"c x2af y362a wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m</div></td><td class=\"c x2a5 y362a w142 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls217 ws1\">technique<span class=\"_ _216\"> </span></div></td><td class=\"c x2b0 y362a w129 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b1 y362a w129 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b2 y362a w129 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b3 y362a w143 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">%<span class=\"_ _216\"> </span></div></td><td class=\"c x2b4 y362a w143 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">%<span class=\"_ _216\"> </span></div></td><td class=\"c x2b5 y362a w143 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">%<span class=\"_ _216\"> </span></div></td><td class=\"c x2b6 y362a w12b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b7 y362a w12b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td><td class=\"c x2b8 y362a w12b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">\u00a3<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y362b w45 h102\"><div class=\"t m0 x0 hfb y29b5 ff3f fsba fc4 sc0 ls1d9 ws1\">Campuses<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x2b9 y362c w12c h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d5 ws1\">Investment<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"c x2c3 y3612 w130 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls208 ws1\">2,<span class=\"ls275\">086</span></div><div class=\"t m0 x2c2 hfb y3476 ff3f fsba fc4 sc0 ls1ef ws1\">methodolo<span class=\"_ _1\"></span>gy<span class=\"_ _216\"> </span></div></td><td class=\"c x29e y362b w4a h102\"><div class=\"t m0 x198 hfb y292f ff3f fsba fc4 sc0 ls208 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y362b w4b h102\"><div class=\"t m0 x199 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">136<span class=\"ls1\"> </span></div></td><td class=\"c x2bd y362b w4b h102\"><div class=\"t m0 x198 hfb y292f ff3f fsba fc4 sc0 ls1e0 ws1\">67<span class=\"ls1\"> </span></div></td><td class=\"c x29f y362b w4b h102\"><div class=\"t m0 x1c1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x2be y362b w4b h102\"><div class=\"t m0 x1a6 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x2bf y362b w4b h102\"><div class=\"t m0 x1a6 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x2a0 y362b w4b h102\"><div class=\"t m0 x196 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2c0 y362b w4b h102\"><div class=\"t m0 x198 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">171<span class=\"ls1\"> </span></div></td><td class=\"c x2c1 y362b w4b h102\"><div class=\"t m0 x1a7 hfb y292f ff3f fsba fc4 sc0 ls1d8 ws1\">41<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y362d w12e h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d6 ws1\">Retail &amp; <span class=\"ls1dd\">London<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x2b9 y362d w12c h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d5 ws1\">Investment<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y362e w12f h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e2 ws1\">Urban Logisti<span class=\"_ _1\"></span>cs<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x2ce y362e w144 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1dd ws1\">3,53<span class=\"ls1\">9</span></div><div class=\"t m0 x2cd hfb y3476 ff3f fsba fc4 sc0 ls1ef ws1\">methodolo<span class=\"_ _1\"></span>gy<span class=\"_ _216\"> </span></div></td><td class=\"c x29e y362f w4a h102\"><div class=\"t m0 x1a6 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x2bc y362f w4b h102\"><div class=\"t m0 x1a7 hfb y2be8 ff3f fsba fc4 sc0 ls1d8 ws1\">41<span class=\"ls1\"> </span></div></td><td class=\"c x2bd y362f w4b h102\"><div class=\"t m0 x198 hfb y2be8 ff3f fsba fc4 sc0 ls1ea ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x29f y362f w4b h102\"><div class=\"t m0 x1a6 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2be y362f w4b h102\"><div class=\"t m0 x1a7 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\"> </span></div></td><td class=\"c x2bf y362f w4b h102\"><div class=\"t m0 x1c1 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x2a0 y362f w4b h102\"><div class=\"t m0 x196 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2c0 y362f w4b h102\"><div class=\"t m0 x198 hfb y2be8 ff3f fsba fc4 sc0 ls1e0 ws1\">69<span class=\"ls1\"> </span></div></td><td class=\"c x2c1 y362f w4b h102\"><div class=\"t m0 x1c1 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td></tr><tr><td class=\"c x1f9 y3630 w45 h102\"><div class=\"t m0 x0 hfb y2d0e ff3f fsba fc4 sc0 ls20a ws1\">Developments<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x2c4 y3631 w131 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d6 ws1\">Residual<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"c x2d0 y3619 w145 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1 ws1\">3<span class=\"ls1e0\">91</span></div><div class=\"t m0 x2cf hfb y3476 ff3f fsba fc4 sc0 ls1ef ws1\">methodolo<span class=\"_ _1\"></span>gy<span class=\"_ _216\"> </span></div></td><td class=\"c x29e y3630 w4a h102\"><div class=\"t m0 x198 hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y3630 w4b h102\"><div class=\"t m0 x198 hfb y28dd ff3f fsba fc4 sc0 ls1dc ws1\">113<span class=\"ls1\"> </span></div></td><td class=\"c x2bd y3630 w4b h102\"><div class=\"t m0 x198 hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">70<span class=\"ls1\"> </span></div></td><td class=\"c x29f y3630 w4b h102\"><div class=\"t m0 x1c1 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x2be y3630 w4b h102\"><div class=\"t m0 x1a6 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x2bf y3630 w4b h102\"><div class=\"t m0 x1a6 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x2a0 y3630 w4b h102\"><div class=\"t m0 x1a1 hfb y28dd ff3f fsba fc4 sc0 ls1ea ws1\">225<span class=\"ls1\"> </span></div></td><td class=\"c x2c0 y3630 w4b h102\"><div class=\"t m0 x1b2 hfb y28dd ff3f fsba fc4 sc0 ls1dc ws1\">1,337<span class=\"ls1\"> </span></div></td><td class=\"c x2c1 y3630 w4b h102\"><div class=\"t m0 x1ac hfb y28dd ff3f fsba fc4 sc0 ls1d7 ws1\">899<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3632 w45 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x2c7 y3632 w29 hfd\"><div class=\"t m0 x1ac hfb y28ef ff3f fsba fc4 sc0 ls1e0 ws1\">6,016<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3634 w146 h16c\"><div class=\"t m0 x1e7 hfb y3633 ff3f fsba fc4 sc0 ls1e0 ws1\">Trading <span class=\"ls1e6\">and held<span class=\"ls1\">-<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e7 ws1\">for<span class=\"ls1\">-<span class=\"ls1e3\">sale<span class=\"_ _216\"> </span></span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3635 w134 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1eb ws1\">properties<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3636 w135 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e6 ws1\">at fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x2c7 y3637 w29 h120\"><div class=\"t m0 x1a6 hfb y28e8 ff3f fsba fc4 sc0 ls1d8 ws1\">49<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3638 w147 h149\"><div class=\"t m0 x1e7 hfb y3476 ff42 fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3621 w137 h151\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1d8 ws1\">portfolio<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w138 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls208 ws1\">valuation<span class=\"_ _216\"> </span></div></td><td class=\"c x2c7 y363a w29 h100\"><div class=\"t m0 x1b5 hfb y28d5 ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>Information abo<span class=\"_ _1\"></span>ut the <span class=\"ls240\">impact of chan<span class=\"_ _1\"></span>ges in unobserva<span class=\"_ _1\"></span>ble inputs (Level 3<span class=\"_ _1\"></span>) on<span class=\"ls1\"> <span class=\"ls246\">the fair value of the </span></span></span>total<span class=\"ls1\"> <span class=\"ls241\">property portfolio <span class=\"ls23f\">as <span class=\"_ _0\"></span>at</span></span> <span class=\"ls282\">31</span> <span class=\"ls28b\">March 202</span>6 </span><table class=\"s w148 h16d\" id=\"_0760bb2a-0483-47ff-9ed3-03262692d6ca\"><tr><td></td><td></td><td class=\"c x238 y363b w4c hf8\"><div class=\"t m0 x1ba hf9 y294c ff3e fsb9 fc11 sc0 ls284 ws1\">Impact on valuations<span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x2d1 y363b w4c hf8\"><div class=\"t m0 x1ba hf9 y294c ff3e fsb9 fc11 sc0 ls284 ws1\">Impact on valuations<span class=\"ls1\"> </span></div></td><td class=\"c x221 y363b w4c hf8\"><div class=\"t m0 x1ba hf9 y294c ff3e fsb9 fc11 sc0 ls284 ws1\">Impact on valuations<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x2d2 y363c w120 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Fair<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2d3 y363d w121 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">value<span class=\"ls1\"> </span>at<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2d4 y363e w122 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">31<span class=\"ls1\"> <span class=\"ls218\">March<span class=\"_ _216\"> </span></span></span></div></td><td></td><td></td><td class=\"c x2d5 y363e w149 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">-<span class=\"ls1ce\">25bps</span></div></td><td class=\"c x2d6 y363e w14a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">+25bps<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x2d7 y363f w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span></div></td><td class=\"c x2d8 y363f w14b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">+5% ERV</div></td><td class=\"c x2d9 y363f w14c h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">-<span class=\"ls1ce\">5% ERV<span class=\"_ _216\"> </span></span></div></td><td class=\"c x2da y363f w14d h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">NEY<span class=\"_ _216\"> </span></div></td><td class=\"c x2db y363f w14d h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">NEY</div></td><td class=\"c x2dc y363f w14e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">-<span class=\"ls1ce\">5% costs</span></div></td><td class=\"c x2dd y363f w14f h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">+5% costs<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x2de y3640 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2df y3640 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e0 y3640 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e1 y3640 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e2 y3640 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x219 y3640 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e3 y3640 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3641 w34 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d9 ws1\">Campuses<span class=\"_ _216\"> </span></div><div class=\"t m0 x1bc hff y28df ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2e4 y3641 w29 hfe\"><div class=\"t m0 x1ac hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">2,215<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3641 w29 hfe\"><div class=\"t m0 x1c1 hfb y28d5 ff42 fsba fc11 sc0 ls1eb ws1\">93<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3641 w28 hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1da ws1\">(90)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y3641 w29 hfe\"><div class=\"t m0 x1c1 hfb y28d5 ff42 fsba fc11 sc0 ls1df ws1\">111<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3641 w28 hfe\"><div class=\"t m0 x199 hfb y28d5 ff42 fsba fc11 sc0 ls1da ws1\">(100)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y3641 w29 hfe\"><div class=\"t m0 x19e hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y3641 w28 hfe\"><div class=\"t m0 x19e hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3642 w34 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">Retail &amp; <span class=\"ls1dd\">London Urban Logi<span class=\"_ _1\"></span>stics</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2e4 y3642 w29 hfd\"><div class=\"t m0 x1b5 hfb y2be8 ff42 fsba fc11 sc0 ls1dd ws1\">3,807<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3642 w29 hfd\"><div class=\"t m0 x178 hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">155<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3642 w28 hfd\"><div class=\"t m0 x194 hfb y2be8 ff42 fsba fc11 sc0 ls1da ws1\">(153)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y3642 w29 hfd\"><div class=\"t m0 x178 hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">158<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3642 w28 hfd\"><div class=\"t m0 x194 hfb y2be8 ff42 fsba fc11 sc0 ls1da ws1\">(147)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y3642 w29 hfd\"><div class=\"t m0 x19e hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y3642 w28 hfd\"><div class=\"t m0 x19e hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3643 w34 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls20a ws1\">Developments<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3643 w29 hfe\"><div class=\"t m0 x198 hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">294<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3643 w29 hfe\"><div class=\"t m0 x19b hfb y28fc ff42 fsba fc11 sc0 ls1df ws1\">17<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3643 w28 hfe\"><div class=\"t m0 x1b0 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(17)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y3643 w29 hfe\"><div class=\"t m0 x19d hfb y28fc ff42 fsba fc11 sc0 ls1df ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3643 w28 hfe\"><div class=\"t m0 x1a6 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(12)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y3643 w29 hfe\"><div class=\"t m0 x1c1 hfb y28fc ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3643 w28 hfe\"><div class=\"t m0 x1b0 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(31)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3644 w34 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation <span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3644 w29 hfe\"><div class=\"t m0 x1ab hfb y28e6 ff42 fsba fc11 sc0 ls1eb ws1\">6,316<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3644 w29 hfe\"><div class=\"t m0 x198 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">265<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3644 w28 hfe\"><div class=\"t m0 x1a1 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(260)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y3644 w29 hfe\"><div class=\"t m0 x1a5 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">282<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3644 w28 hfe\"><div class=\"t m0 x199 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(259)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y3644 w29 hfe\"><div class=\"t m0 x1c1 hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3644 w28 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(31)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3645 w34 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1ed ws1\">Share of j<span class=\"ls1e0\">oint <span class=\"ls1\">v<span class=\"ls208\">enture</span> <span class=\"ls1eb\">property</span> <span class=\"ls1eb\">port<span class=\"_ _1\"></span>folio valuation</span></span></span><span class=\"ls1e0\"><span class=\"ls1\"><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></span></span></div></td><td class=\"c x2e4 y3645 w29 hfd\"><div class=\"t m0 x1b5 hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">3,746<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3645 w29 hfd\"><div class=\"t m0 x178 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">15<span class=\"ls1\">7</span><span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3645 w28 hfd\"><div class=\"t m0 x194 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(167)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y3645 w29 hfd\"><div class=\"t m0 x194 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">204<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3645 w28 hfd\"><div class=\"t m0 x194 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(197)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y3645 w29 hfd\"><div class=\"t m0 x1a6 hfb y297c ff42 fsba fc11 sc0 ls1e9 ws1\">40<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3645 w28 hfd\"><div class=\"t m0 x1b0 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(41)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3646 w34 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total <span class=\"ls1d8\">property portf<span class=\"_ _1\"></span>olio valuation</span><span class=\"ls1d8\"> <span class=\"ls1\"> </span></span></div></td><td class=\"c x2e4 y3646 w29 hfd\"><div class=\"t m0 x1a9 hfb y28f7 ff42 fsba fc11 sc0 ls1df ws1\">10,062<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3646 w29 hfd\"><div class=\"t m0 x198 hfb y28f7 ff42 fsba fc11 sc0 ls1e9 ws1\">422<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3646 w28 hfd\"><div class=\"t m0 x199 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(427)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y3646 w29 hfd\"><div class=\"t m0 x198 hfb y28f7 ff42 fsba fc11 sc0 ls1e9 ws1\">486<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3646 w28 hfd\"><div class=\"t m0 x1a1 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(456)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y3646 w29 hfd\"><div class=\"t m0 x1c1 hfb y28f7 ff42 fsba fc11 sc0 ls1dd ws1\">72<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3646 w28 hfd\"><div class=\"t m0 x178 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(72)<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">Includes trading</span> <span class=\"ls1f2\">properties at fair value.<span class=\"_ _216\"> </span></span></span>Information abo<span class=\"_ _1\"></span>ut the impact of chan<span class=\"_ _1\"></span>ges in unobservable in<span class=\"_ _1\"></span>puts (Level 3) on<span class=\"ls1\"> <span class=\"ls246\">the fair value of the </span></span>total <span class=\"ls241\">property portfolio <span class=\"_ _0\"></span><span class=\"ls23f\">as at<span class=\"ls1\"> <span class=\"ls282\">31</span> <span class=\"ls28b\">March</span> <span class=\"ls282\">202</span>5 </span></span></span><table class=\"s w98 h16e\" id=\"_1f39e20c-3c65-4c46-8b08-2ba70826fdd7\"><tr><td></td><td></td><td class=\"c x238 y3647 w4c hf8\"><div class=\"t m0 x1b1 hf9 y28f3 ff3d fsb9 fc4 sc0 ls287 ws1\">Impact on valuations<span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x2d1 y3647 w4c hf8\"><div class=\"t m0 x1b1 hf9 y28f3 ff3d fsb9 fc4 sc0 ls287 ws1\">Impact on <span class=\"ls1cf\">valuations</span><span class=\"ls1cf\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x221 y3647 w4c hf8\"><div class=\"t m0 x1ba hf9 y28f3 ff3d fsb9 fc4 sc0 ls287 ws1\">Impact on valuations<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x2d2 y363c w139 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Fair<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2d3 y3648 w13a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">value<span class=\"ls1\"> <span class=\"ls1d5\">at<span class=\"_ _216\"> </span></span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x2d4 y3649 w13b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">31<span class=\"ls1\"> <span class=\"ls218\">March<span class=\"_ _216\"> </span></span></span></div></td><td></td><td></td><td class=\"c x2d5 y3649 w150 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">-<span class=\"ls1cf\">25bps</span></div></td><td class=\"c x2e6 y3649 w151 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1ce ws1\">+25bps<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x2e7 y364a w13c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span></div></td><td class=\"c x2d8 y364a w152 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1ce ws1\">+5% ERV</div></td><td class=\"c x2d9 y364a w153 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">-<span class=\"ls235\">5% ERV<span class=\"_ _216\"> </span></span></div></td><td class=\"c x2da y364a w14d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">NEY<span class=\"_ _216\"> </span></div></td><td class=\"c x2db y364a w14d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">NEY</div></td><td class=\"c x2dc y364a w154 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">-<span class=\"ls235\">5% costs</span></div></td><td class=\"c x2dd y364a w155 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1ce ws1\">+5% costs<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x2de y364b wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2df y364b wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e0 y364b wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e1 y364b wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e2 y364b wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x219 y364b wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e3 y364b wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y364c w34 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d9 ws1\">Campuses<span class=\"_ _216\"> </span></div><div class=\"t m0 x1bc hff y2d9a ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2e4 y364c w29 hfd\"><div class=\"t m0 x1ae hfb y292f ff3f fsba fc4 sc0 ls1ea ws1\">2,113<span class=\"ls1\"> </span></div></td><td class=\"c x238 y364c w29 hfd\"><div class=\"t m0 x1a6 hfb y292f ff3f fsba fc4 sc0 ls1e0 ws1\">90<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y364c w28 hfd\"><div class=\"t m0 x1a7 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(90)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y364c w29 hfd\"><div class=\"t m0 x1a7 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">106<span class=\"ls1\"> </span></div></td><td class=\"c x201 y364c w28 hfd\"><div class=\"t m0 x178 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(97)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y364c w29 hfd\"><div class=\"t m0 x19e hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y364c w28 hfd\"><div class=\"t m0 x19e hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y364d w34 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">Retail &amp; <span class=\"ls1dd\">London Urban Logi<span class=\"_ _1\"></span>stics</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2e4 y364d w29 hfe\"><div class=\"t m0 x1ab hfb y28f3 ff3f fsba fc4 sc0 ls1dd ws1\">3,539<span class=\"ls1\"> </span></div></td><td class=\"c x238 y364d w29 hfe\"><div class=\"t m0 x1a7 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">144<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y364d w28 hfe\"><div class=\"t m0 x1a7 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(141)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y364d w29 hfe\"><div class=\"t m0 x178 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">149<span class=\"ls1\"> </span></div></td><td class=\"c x201 y364d w28 hfe\"><div class=\"t m0 x198 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(137)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y364d w29 hfe\"><div class=\"t m0 x19e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y364d w28 hfe\"><div class=\"t m0 x19e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y364e w34 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls20a ws1\">Developments<span class=\"_ _216\"> </span></div><div class=\"t m0 x12e hff y29b3 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 xfa hfb y297c ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2e4 y364e w29 hfd\"><div class=\"t m0 x178 hfb y297c ff3f fsba fc4 sc0 ls1d8 ws1\">413<span class=\"ls1\"> </span></div></td><td class=\"c x238 y364e w29 hfd\"><div class=\"t m0 x19d hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y364e w28 hfd\"><div class=\"t m0 x1a6 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(19)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y364e w29 hfd\"><div class=\"t m0 x19d hfb y297c ff3f fsba fc4 sc0 ls1ea ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x201 y364e w28 hfd\"><div class=\"t m0 x1a6 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(19)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y364e w29 hfd\"><div class=\"t m0 x1a3 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x222 y364e w28 hfd\"><div class=\"t m0 x19d hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y364f w34 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation <span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y364f w29 hfd\"><div class=\"t m0 x1b5 hfb y28f7 ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td><td class=\"c x238 y364f w29 hfd\"><div class=\"t m0 x1a5 hfb y28f7 ff3f fsba fc4 sc0 ls1ea ws1\">253<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y364f w28 hfd\"><div class=\"t m0 x199 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(250)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y364f w29 hfd\"><div class=\"t m0 x1a5 hfb y28f7 ff3f fsba fc4 sc0 ls1ea ws1\">276<span class=\"ls1\"> </span></div></td><td class=\"c x201 y364f w28 hfd\"><div class=\"t m0 x1ae hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(253)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y364f w29 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x222 y364f w28 hfd\"><div class=\"t m0 x19d hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3650 w34 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1ed ws1\">Share of joint venture <span class=\"_ _1\"></span>property portfolio valuati<span class=\"_ _1\"></span>on<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3650 w29 hfd\"><div class=\"t m0 x1a1 hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">3,421<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3650 w29 hfd\"><div class=\"t m0 x178 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">186<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3650 w28 hfd\"><div class=\"t m0 x198 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(183)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y3650 w29 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff3f fsba fc4 sc0 ls1ea ws1\">223<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3650 w28 hfd\"><div class=\"t m0 x199 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(203)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y3650 w29 hfd\"><div class=\"t m0 x196 hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">57<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3650 w28 hfd\"><div class=\"t m0 x178 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3651 w34 hfe\"><div class=\"t m0 x0 hfb y28d7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total property portfol<span class=\"_ _1\"></span>io valuation <span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3651 w29 hfe\"><div class=\"t m0 x1b5 hfb y28d7 ff3f fsba fc4 sc0 ls1e0 ws1\">9,486<span class=\"ls1\"> </span></div></td><td class=\"c x238 y3651 w29 hfe\"><div class=\"t m0 x198 hfb y28d7 ff3f fsba fc4 sc0 ls1d8 ws1\">439<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3651 w28 hfe\"><div class=\"t m0 x199 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(433)<span class=\"ls1\"> </span></div></td><td class=\"c x2d1 y3651 w29 hfe\"><div class=\"t m0 x198 hfb y28d7 ff3f fsba fc4 sc0 ls1d8 ws1\">499<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3651 w28 hfe\"><div class=\"t m0 x199 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(456)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y3651 w29 hfe\"><div class=\"t m0 x1a6 hfb y28d7 ff3f fsba fc4 sc0 ls1e0 ws1\">60<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3651 w28 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(60)<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">Includes trading p<span class=\"_ _0\"></span>roperties at fair value.</span> </span>2. Includes held<span class=\"ls1\">-<span class=\"ls1f8\">for</span>-<span class=\"ls202\">sale properties at fair value.</span> </span>All other<span class=\"_ _1\"></span> factors <span class=\"_ _1\"></span>being equal:<span class=\"_ _1\"></span><span class=\"ls1\"> </span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls225\">a higher equivalent yield or discount<span class=\"_ _1\"></span> rate would lead to a decrease in the <span class=\"_ _1\"></span>valuation of an asset; <span class=\"ls1\"> </span></span></span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls225\">an increase in the current or esti<span class=\"_ _1\"></span>mated future rental stream would have the ef<span class=\"_ _1\"></span>fect of increasing the capital<span class=\"_ _1\"></span> value; </span></span>and<span class=\"ls1\"> </span>\u2022<span class=\"ff4e\"> <span class=\"_ _ea\"> </span><span class=\"ff45 fc4 ls225\">an increase in the costs to complete <span class=\"ls236\">wou<span class=\"_ _1\"></span>ld lead t<span class=\"_ _1\"></span>o a decrea<span class=\"_ _1\"></span>se in th<span class=\"_ _1\"></span>e valuati<span class=\"_ _1\"></span>on of an <span class=\"_ _1\"></span>asset.<span class=\"ls1\"> </span></span></span></span>However, the<span class=\"_ _1\"></span>re are inte<span class=\"_ _1\"></span>rrelationshi<span class=\"_ _1\"></span>ps between the <span class=\"_ _1\"></span>unobservable i<span class=\"_ _1\"></span>nputs which <span class=\"_ _1\"></span>are partiall<span class=\"_ _1\"></span>y determined <span class=\"_ _1\"></span>by market conditions, which would impact on these changes. <span class=\"_ _1\"></span><span class=\"ls220\">The sensitivity <span class=\"_ _1\"></span>ranges used are deemed ap<span class=\"ls234\">propriat<span class=\"_ _1\"></span>e based on </span></span>industry ex<span class=\"_ _0\"></span>perience.<span class=\"ls1\"> </span>Additional <span class=\"_ _0\"></span>property discl<span class=\"_ _0\"></span>osures <span class=\"ls1\">\u2013 <span class=\"ls240\">including covena<span class=\"_ _1\"></span>nt information<span class=\"ls1\"> </span></span></span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the Grou<span class=\"_ _0\"></span>p property<span class=\"_ _0\"></span> portfolio va<span class=\"_ _0\"></span>luation of \u00a3<span class=\"ls220\">6,316<span class=\"ls233\">m (202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>\u00a3<span class=\"ls220\">6,065</span>m<span class=\"ls243\">) com<span class=\"_ _0\"></span>prise<span class=\"ls234\">d of</span></span> <span class=\"ls231\">freeholds of </span></span>\u00a3<span class=\"ls221\">3,379<span class=\"ls233\">m <span class=\"ls243\">(202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>\u00a3<span class=\"ls221\">3,113</span>m<span class=\"ls243\">); <span class=\"ls223\">virtual freeholds of \u00a3<span class=\"ls24a\">459<span class=\"ls233\">m (202<span class=\"_ _1\"></span><span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls24a\">473<span class=\"ls233\">m); long l<span class=\"_ _1\"></span>easeholds<span class=\"_ _1\"></span> of \u00a3<span class=\"ls268\">2,261<span class=\"_ _1\"></span><span class=\"ls233\">m (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span></span></span></span></span></span></span></span></span></span></span></span>\u00a3<span class=\"ls268\">2,043<span class=\"ls233\">m); and <span class=\"_ _1\"></span>short <span class=\"_ _1\"></span>leasehol<span class=\"_ _1\"></span>ds of \u00a3<span class=\"_ _1\"></span><span class=\"ls268\">217<span class=\"ls233\">m (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls24a\">436</span></span></span>m). The<span class=\"_ _1\"></span> histor<span class=\"_ _1\"></span>ical <span class=\"_ _1\"></span>cost of<span class=\"_ _1\"></span> propert<span class=\"_ _1\"></span>ies was<span class=\"ls1\"> <span class=\"ls220\">\u00a35,205m </span></span></span></span></span></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: <span class=\"_ _0\"></span>\u00a3<span class=\"ls221\">5,036<span class=\"ls233\">m).</span></span> </span>Cumulative i<span class=\"_ _1\"></span>nterest capi<span class=\"_ _1\"></span>talised agai<span class=\"_ _1\"></span>nst investment<span class=\"ls235\">, development an<span class=\"_ _0\"></span>d trading p<span class=\"_ _0\"></span>roperties am<span class=\"_ _0\"></span>ount<span class=\"ls223\">ed<span class=\"ls1\"> <span class=\"ls222\">to \u00a3<span class=\"ls22f\">162<span class=\"_ _0\"></span><span class=\"ls233\">m </span></span></span></span></span></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: <span class=\"_ _0\"></span>\u00a31<span class=\"ls221\">55<span class=\"ls233\">m).</span></span> </span>Properties valu<span class=\"_ _1\"></span>ed at \u00a3<span class=\"ls220\">925<span class=\"ls233\">m (202<span class=\"_ _1\"></span><span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"_ _0\"></span><span class=\"ls220\">905<span class=\"ls233\">m) wer<span class=\"_ _1\"></span>e subjec<span class=\"_ _1\"></span>t to a<span class=\"_ _1\"></span> securi<span class=\"_ _1\"></span>ty inte<span class=\"_ _1\"></span>rest<span class=\"ls1\">. </span></span></span></span></span></span></span>Included w<span class=\"_ _0\"></span>ithin the proper<span class=\"_ _0\"></span>ty valuation <span class=\"ls236\">was<span class=\"ls1\"> <span class=\"ls220\">\u00a31m <span class=\"ls243\">(202</span></span>4<span class=\"_ _0\"></span><span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>1<span class=\"ls233\">m) in re<span class=\"_ _1\"></span>spect of<span class=\"_ _1\"></span> accrue<span class=\"_ _1\"></span>d contr<span class=\"_ _1\"></span>acted r<span class=\"_ _1\"></span>ental <span class=\"ls221\">uplif<span class=\"_ _1\"></span>t income </span></span></span></span>and<span class=\"ls1\"> <span class=\"ls220\">\u00a3138m</span> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a31</span>29<span class=\"ls233\">m) in res<span class=\"_ _1\"></span>pect of <span class=\"_ _1\"></span>other <span class=\"_ _1\"></span>tenant <span class=\"_ _1\"></span>incenti<span class=\"_ _1\"></span>ves. The<span class=\"_ _1\"></span> balance<span class=\"_ _1\"></span> arises<span class=\"_ _1\"></span> throug<span class=\"_ _1\"></span>h the I<span class=\"_ _1\"></span>FRS tre<span class=\"_ _1\"></span>atment of<span class=\"_ _1\"></span> </span></span>leases con<span class=\"_ _0\"></span>taining such a<span class=\"_ _0\"></span>rrangeme<span class=\"_ _0\"></span>nts, which req<span class=\"_ _0\"></span>uires the rec<span class=\"_ _0\"></span>ognition of re<span class=\"_ _0\"></span>ntal income<span class=\"_ _0\"></span> on a straigh<span class=\"_ _0\"></span>t<span class=\"ls1\">-</span>line basis ov<span class=\"_ _0\"></span>er the lease term<span class=\"_ _0\"></span>, with the differ<span class=\"_ _0\"></span>ence betw<span class=\"_ _0\"></span>een this a<span class=\"ls221\">nd the cash receipt changing the carr<span class=\"_ _1\"></span>ying value of the property <span class=\"_ _1\"></span>against </span>which re<span class=\"_ _1\"></span>valuations<span class=\"_ _1\"></span> are measur<span class=\"_ _1\"></span>ed",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentPropertyExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-431": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs24b\">5 <span class=\"_ _23\"> </span><span class=\"ls274\">Auditors\u2019 remuneration</span> </div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs24c\">PricewaterhouseCoopers LLP<span class=\"ls1\"> </span></div><div class=\"gs24d\"><table class=\"s wdf h159\" id=\"_042581a4-677d-4d03-8c2e-1d6a6701af08\"><tr><td></td><td class=\"c x200 y3549 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3549 we0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">20<span class=\"ls1\">25<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y354a w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y354a wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y354b w25 h102\"><div class=\"t m0 x0 hfb y2c3e ff3f fsba fc4 sc0 ls214 ws1\">Fees payable to the <span class=\"_ _1\"></span>Company\u2019s auditor for the <span class=\"_ _1\"></span>audit of the Company\u2019s annual<span class=\"_ _1\"></span> accounts and </div><div class=\"t m0 x0 hfb y2c3f ff3f fsba fc4 sc0 ls1e6 ws1\">consolidated financial statements<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y354b w24 h102\"><div class=\"t m0 x1a3 hfb y293b ff42 fsba fc11 sc0 ls1d9 ws1\">0.7<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y354b w24 h102\"><div class=\"t m0 x19e hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">0.6<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y354c we1 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls214 ws1\">Fees payable to the <span class=\"_ _1\"></span>Company\u2019s auditor for the <span class=\"_ _1\"></span>audit of the Company\u2019s subsi<span class=\"_ _1\"></span>diaries, pursuant<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1fe y354d we2 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ee ws1\">to<span class=\"ls1\"> <span class=\"ls1e5\">legislation<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x1fc y354e w24 h102\"><div class=\"t m0 x1 hfb y28f5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y354e w24 h102\"><div class=\"t m0 x1 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y354f w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total audit fees<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y354f w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff42 fsba fc11 sc0 ls1d9 ws1\">0.7<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y354f w24 hfd\"><div class=\"t m0 x19e hfb y28f7 ff3f fsba fc4 sc0 ls275 ws1\">0.6<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3550 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1e1 ws1\">Audit<span class=\"ls1\"> <span class=\"ls1ee\">related assurance services</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3550 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1d9 ws1\">0.3<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3550 w24 hfd\"><div class=\"t m0 x19e hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">0.3<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3551 w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total audit and audi<span class=\"_ _1\"></span>t<span class=\"ls1\"> <span class=\"ls1e8\">related assuran<span class=\"_ _0\"></span>ce services</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3551 w24 hfe\"><div class=\"t m0 x192 hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">1.0<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3551 w24 hfe\"><div class=\"t m0 x19e hfb y28d7 ff3f fsba fc4 sc0 ls275 ws1\">0.9<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3552 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls204 ws1\">Other fee<span class=\"_ _1\"></span>s<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3552 w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3552 w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3553 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls204 ws1\">Other ser<span class=\"_ _1\"></span>vices<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3553 w24 hfe\"><div class=\"t m0 x192 hfb y28d5 ff42 fsba fc11 sc0 ls1d9 ws1\">0.1<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3553 w24 hfe\"><div class=\"t m0 x1a2 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">0.1<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3554 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3554 w24 hfe\"><div class=\"t m0 x1ad hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">1.1<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3554 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff3f fsba fc4 sc0 ls1dc ws1\">1.0<span class=\"ls1\"> </span></div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-432": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs24f\">6 <span class=\"_ _23\"> </span><span class=\"ls274\">Net financing <span class=\"ls21d\">charges</span></span> </div><div class=\"gs246\"><table class=\"s we3 h15a\" id=\"_6eb5aa04-53e5-4daf-b7c2-c4e54eb991f0\"><tr><td></td><td class=\"c x200 y3555 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3555 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3556 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3556 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3557 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e2 ws1\">Underlying<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3558 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3559 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls214 ws1\">Facilities and <span class=\"_ _1\"></span>overdrafts<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(38)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(36)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355a w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">35<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Other loa<span class=\"_ _1\"></span>ns<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355b w24 hfd\"><div class=\"t m0 x196 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(10<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y355b w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">6</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355c w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Obligatio<span class=\"_ _1\"></span>ns under head<span class=\"_ _1\"></span> leases<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355d w24 hfd\"><div class=\"t m0 x19a hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(113)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355d w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(9<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355e w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Development int<span class=\"_ _1\"></span>erest capital<span class=\"_ _1\"></span>ised<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(87)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(6<span class=\"ls1\">2</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y3560 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls214 ws1\">Financing income<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3561 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls20a ws1\">Deposits, s<span class=\"_ _1\"></span>ecurities and <span class=\"_ _1\"></span><span class=\"ls1e5\">liquid inves<span class=\"_ _0\"></span>tments</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3561 w24 hfd\"><div class=\"t m0 x1aa hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3561 w24 hfd\"><div class=\"t m0 x1 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td></td><td class=\"c x1fc y3562 w24 hfe\"><div class=\"t m0 x1aa hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3562 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y3563 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng charges <span class=\"ls1\">\u2013 <span class=\"ls1e2\">Underlying</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff42 fsba fc11 sc0 ls1da ws1\">(85)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">60</span>) </div></td></tr><tr><td class=\"c x1fe y3565 we4 h15b\"><div class=\"t m0 x1e7 hfb y3564 ff42 fsba fc4 sc0 ls1d9 ws1\">Capital and other<span class=\"_ _216\"> </span></div><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3566 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing costs<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3566 w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3566 w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3567 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair val<span class=\"_ _1\"></span>ue hedge accounted <span class=\"_ _1\"></span>derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3567 w24 hfd\"><div class=\"t m0 x8f hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3567 w24 hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td></tr><tr><td class=\"c x1f9 y3568 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair <span class=\"ls272\">value hedge accounted debt</span><span class=\"ls272\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3568 w24 hfe\"><div class=\"t m0 x1 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3568 w24 hfe\"><div class=\"t m0 x192 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3569 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on non<span class=\"ls1\">-<span class=\"ls1dd\">hedge accounted derivatives</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3569 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1d7\">29</span>) </div></td><td class=\"c x1fd y3569 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(40)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng<span class=\"ls1\"> <span class=\"ls1e6\">charges</span> \u2013 <span class=\"ls1d9\">Capital and other</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356c w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing i<span class=\"_ _1\"></span>ncome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356c w24 hfe\"><div class=\"t m0 x1aa hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y356c w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y356d w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing char<span class=\"_ _1\"></span>ges<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356d w24 hfd\"><div class=\"t m0 x19d hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">119)</span> </div></td><td class=\"c x1fd y356d w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y356e w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng <span class=\"ls1e6\">charges</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y356e w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356e w24 hfe\"><div class=\"t m0 x19b hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">3</span><span class=\"ls1\">) </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs250\">The <span class=\"ls20d\">Group\u2019s <span class=\"_ _1\"></span>weighted average<span class=\"_ _1\"></span> interest <span class=\"_ _1\"></span>rate <span class=\"ls225\">as at 31 March <span class=\"_ _1\"></span>2026 <span class=\"ls236\">was<span class=\"fc13 ls1\"> </span><span class=\"ls221\">3.6%<span class=\"ls1\"> (<span class=\"ls268\">2024/25<span class=\"ls26a\">: </span></span></span>3.2<span class=\"ls276\">%)<span class=\"ls1\">, </span></span></span></span>and <span class=\"ls220\">on a proportiona<span class=\"ls1fc\">lly<span class=\"ls1\"> </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs251\">consolidated basis was <span class=\"ls221\">3.9%<span class=\"fc13 ls1\"> </span><span class=\"ls243\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: </span></span>3.<span class=\"ls1\">6<span class=\"ls276\">%).</span></span></span><span class=\"ls221\"><span class=\"ls1\"> </span></span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-488": {
   "value": "6 <span class=\"_ _23\"> </span><span class=\"ls274\">Net financing <span class=\"ls21d\">charges</span></span> <table class=\"s we3 h15a\" id=\"_6eb5aa04-53e5-4daf-b7c2-c4e54eb991f0\"><tr><td></td><td class=\"c x200 y3555 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3555 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3556 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3556 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3557 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e2 ws1\">Underlying<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3558 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3559 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls214 ws1\">Facilities and <span class=\"_ _1\"></span>overdrafts<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(38)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(36)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355a w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">35<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Other loa<span class=\"_ _1\"></span>ns<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355b w24 hfd\"><div class=\"t m0 x196 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(10<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y355b w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">6</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355c w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Obligatio<span class=\"_ _1\"></span>ns under head<span class=\"_ _1\"></span> leases<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355d w24 hfd\"><div class=\"t m0 x19a hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(113)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355d w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(9<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355e w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Development int<span class=\"_ _1\"></span>erest capital<span class=\"_ _1\"></span>ised<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(87)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(6<span class=\"ls1\">2</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y3560 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls214 ws1\">Financing income<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3561 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls20a ws1\">Deposits, s<span class=\"_ _1\"></span>ecurities and <span class=\"_ _1\"></span><span class=\"ls1e5\">liquid inves<span class=\"_ _0\"></span>tments</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3561 w24 hfd\"><div class=\"t m0 x1aa hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3561 w24 hfd\"><div class=\"t m0 x1 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td></td><td class=\"c x1fc y3562 w24 hfe\"><div class=\"t m0 x1aa hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3562 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y3563 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng charges <span class=\"ls1\">\u2013 <span class=\"ls1e2\">Underlying</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff42 fsba fc11 sc0 ls1da ws1\">(85)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">60</span>) </div></td></tr><tr><td class=\"c x1fe y3565 we4 h15b\"><div class=\"t m0 x1e7 hfb y3564 ff42 fsba fc4 sc0 ls1d9 ws1\">Capital and other<span class=\"_ _216\"> </span></div><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3566 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing costs<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3566 w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3566 w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3567 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair val<span class=\"_ _1\"></span>ue hedge accounted <span class=\"_ _1\"></span>derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3567 w24 hfd\"><div class=\"t m0 x8f hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3567 w24 hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td></tr><tr><td class=\"c x1f9 y3568 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair <span class=\"ls272\">value hedge accounted debt</span><span class=\"ls272\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3568 w24 hfe\"><div class=\"t m0 x1 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3568 w24 hfe\"><div class=\"t m0 x192 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3569 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on non<span class=\"ls1\">-<span class=\"ls1dd\">hedge accounted derivatives</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3569 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1d7\">29</span>) </div></td><td class=\"c x1fd y3569 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(40)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng<span class=\"ls1\"> <span class=\"ls1e6\">charges</span> \u2013 <span class=\"ls1d9\">Capital and other</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356c w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing i<span class=\"_ _1\"></span>ncome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356c w24 hfe\"><div class=\"t m0 x1aa hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y356c w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y356d w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing char<span class=\"_ _1\"></span>ges<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356d w24 hfd\"><div class=\"t m0 x19d hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">119)</span> </div></td><td class=\"c x1fd y356d w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y356e w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng <span class=\"ls1e6\">charges</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y356e w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356e w24 hfe\"><div class=\"t m0 x19b hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">3</span><span class=\"ls1\">) </span></div></td></tr></table>The <span class=\"ls20d\">Group\u2019s <span class=\"_ _1\"></span>weighted average<span class=\"_ _1\"></span> interest <span class=\"_ _1\"></span>rate <span class=\"ls225\">as at 31 March <span class=\"_ _1\"></span>2026 <span class=\"ls236\">was<span class=\"fc13 ls1\"> </span><span class=\"ls221\">3.6%<span class=\"ls1\"> (<span class=\"ls268\">2024/25<span class=\"ls26a\">: </span></span></span>3.2<span class=\"ls276\">%)<span class=\"ls1\">, </span></span></span></span>and <span class=\"ls220\">on a proportiona<span class=\"ls1fc\">lly<span class=\"ls1\"> </span></span></span></span></span>consolidated basis was <span class=\"ls221\">3.9%<span class=\"fc13 ls1\"> </span><span class=\"ls243\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: </span></span>3.<span class=\"ls1\">6<span class=\"ls276\">%).</span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-486": {
   "value": "6 <span class=\"_ _23\"> </span><span class=\"ls274\">Net financing <span class=\"ls21d\">charges</span></span> <table class=\"s we3 h15a\" id=\"_6eb5aa04-53e5-4daf-b7c2-c4e54eb991f0\"><tr><td></td><td class=\"c x200 y3555 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3555 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3556 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3556 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3557 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e2 ws1\">Underlying<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3558 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3559 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls214 ws1\">Facilities and <span class=\"_ _1\"></span>overdrafts<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(38)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(36)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355a w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">35<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Other loa<span class=\"_ _1\"></span>ns<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355b w24 hfd\"><div class=\"t m0 x196 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(10<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y355b w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">6</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355c w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Obligatio<span class=\"_ _1\"></span>ns under head<span class=\"_ _1\"></span> leases<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355d w24 hfd\"><div class=\"t m0 x19a hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(113)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355d w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(9<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355e w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Development int<span class=\"_ _1\"></span>erest capital<span class=\"_ _1\"></span>ised<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(87)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(6<span class=\"ls1\">2</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y3560 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls214 ws1\">Financing income<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3561 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls20a ws1\">Deposits, s<span class=\"_ _1\"></span>ecurities and <span class=\"_ _1\"></span><span class=\"ls1e5\">liquid inves<span class=\"_ _0\"></span>tments</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3561 w24 hfd\"><div class=\"t m0 x1aa hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3561 w24 hfd\"><div class=\"t m0 x1 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td></td><td class=\"c x1fc y3562 w24 hfe\"><div class=\"t m0 x1aa hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3562 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y3563 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng charges <span class=\"ls1\">\u2013 <span class=\"ls1e2\">Underlying</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff42 fsba fc11 sc0 ls1da ws1\">(85)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">60</span>) </div></td></tr><tr><td class=\"c x1fe y3565 we4 h15b\"><div class=\"t m0 x1e7 hfb y3564 ff42 fsba fc4 sc0 ls1d9 ws1\">Capital and other<span class=\"_ _216\"> </span></div><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3566 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing costs<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3566 w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3566 w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3567 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair val<span class=\"_ _1\"></span>ue hedge accounted <span class=\"_ _1\"></span>derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3567 w24 hfd\"><div class=\"t m0 x8f hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3567 w24 hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td></tr><tr><td class=\"c x1f9 y3568 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair <span class=\"ls272\">value hedge accounted debt</span><span class=\"ls272\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3568 w24 hfe\"><div class=\"t m0 x1 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3568 w24 hfe\"><div class=\"t m0 x192 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3569 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on non<span class=\"ls1\">-<span class=\"ls1dd\">hedge accounted derivatives</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3569 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1d7\">29</span>) </div></td><td class=\"c x1fd y3569 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(40)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng<span class=\"ls1\"> <span class=\"ls1e6\">charges</span> \u2013 <span class=\"ls1d9\">Capital and other</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356c w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing i<span class=\"_ _1\"></span>ncome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356c w24 hfe\"><div class=\"t m0 x1aa hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y356c w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y356d w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing char<span class=\"_ _1\"></span>ges<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356d w24 hfd\"><div class=\"t m0 x19d hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">119)</span> </div></td><td class=\"c x1fd y356d w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y356e w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng <span class=\"ls1e6\">charges</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y356e w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356e w24 hfe\"><div class=\"t m0 x19b hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">3</span><span class=\"ls1\">) </span></div></td></tr></table>The <span class=\"ls20d\">Group\u2019s <span class=\"_ _1\"></span>weighted average<span class=\"_ _1\"></span> interest <span class=\"_ _1\"></span>rate <span class=\"ls225\">as at 31 March <span class=\"_ _1\"></span>2026 <span class=\"ls236\">was<span class=\"fc13 ls1\"> </span><span class=\"ls221\">3.6%<span class=\"ls1\"> (<span class=\"ls268\">2024/25<span class=\"ls26a\">: </span></span></span>3.2<span class=\"ls276\">%)<span class=\"ls1\">, </span></span></span></span>and <span class=\"ls220\">on a proportiona<span class=\"ls1fc\">lly<span class=\"ls1\"> </span></span></span></span></span>consolidated basis was <span class=\"ls221\">3.9%<span class=\"fc13 ls1\"> </span><span class=\"ls243\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: </span></span>3.<span class=\"ls1\">6<span class=\"ls276\">%).</span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-478": {
   "value": "6 <span class=\"_ _23\"> </span><span class=\"ls274\">Net financing <span class=\"ls21d\">charges</span></span> <table class=\"s we3 h15a\" id=\"_6eb5aa04-53e5-4daf-b7c2-c4e54eb991f0\"><tr><td></td><td class=\"c x200 y3555 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3555 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3556 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3556 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3557 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e2 ws1\">Underlying<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3558 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3559 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls214 ws1\">Facilities and <span class=\"_ _1\"></span>overdrafts<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(38)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(36)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355a w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">35<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Other loa<span class=\"_ _1\"></span>ns<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355b w24 hfd\"><div class=\"t m0 x196 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(10<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y355b w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">6</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355c w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Obligatio<span class=\"_ _1\"></span>ns under head<span class=\"_ _1\"></span> leases<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355d w24 hfd\"><div class=\"t m0 x19a hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(113)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355d w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(9<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355e w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Development int<span class=\"_ _1\"></span>erest capital<span class=\"_ _1\"></span>ised<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(87)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(6<span class=\"ls1\">2</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y3560 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls214 ws1\">Financing income<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3561 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls20a ws1\">Deposits, s<span class=\"_ _1\"></span>ecurities and <span class=\"_ _1\"></span><span class=\"ls1e5\">liquid inves<span class=\"_ _0\"></span>tments</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3561 w24 hfd\"><div class=\"t m0 x1aa hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3561 w24 hfd\"><div class=\"t m0 x1 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td></td><td class=\"c x1fc y3562 w24 hfe\"><div class=\"t m0 x1aa hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3562 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y3563 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng charges <span class=\"ls1\">\u2013 <span class=\"ls1e2\">Underlying</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff42 fsba fc11 sc0 ls1da ws1\">(85)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">60</span>) </div></td></tr><tr><td class=\"c x1fe y3565 we4 h15b\"><div class=\"t m0 x1e7 hfb y3564 ff42 fsba fc4 sc0 ls1d9 ws1\">Capital and other<span class=\"_ _216\"> </span></div><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3566 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing costs<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3566 w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3566 w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3567 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair val<span class=\"_ _1\"></span>ue hedge accounted <span class=\"_ _1\"></span>derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3567 w24 hfd\"><div class=\"t m0 x8f hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3567 w24 hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td></tr><tr><td class=\"c x1f9 y3568 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair <span class=\"ls272\">value hedge accounted debt</span><span class=\"ls272\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3568 w24 hfe\"><div class=\"t m0 x1 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3568 w24 hfe\"><div class=\"t m0 x192 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3569 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on non<span class=\"ls1\">-<span class=\"ls1dd\">hedge accounted derivatives</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3569 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1d7\">29</span>) </div></td><td class=\"c x1fd y3569 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(40)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng<span class=\"ls1\"> <span class=\"ls1e6\">charges</span> \u2013 <span class=\"ls1d9\">Capital and other</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356c w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing i<span class=\"_ _1\"></span>ncome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356c w24 hfe\"><div class=\"t m0 x1aa hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y356c w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y356d w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing char<span class=\"_ _1\"></span>ges<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356d w24 hfd\"><div class=\"t m0 x19d hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">119)</span> </div></td><td class=\"c x1fd y356d w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y356e w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng <span class=\"ls1e6\">charges</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y356e w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356e w24 hfe\"><div class=\"t m0 x19b hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">3</span><span class=\"ls1\">) </span></div></td></tr></table>The <span class=\"ls20d\">Group\u2019s <span class=\"_ _1\"></span>weighted average<span class=\"_ _1\"></span> interest <span class=\"_ _1\"></span>rate <span class=\"ls225\">as at 31 March <span class=\"_ _1\"></span>2026 <span class=\"ls236\">was<span class=\"fc13 ls1\"> </span><span class=\"ls221\">3.6%<span class=\"ls1\"> (<span class=\"ls268\">2024/25<span class=\"ls26a\">: </span></span></span>3.2<span class=\"ls276\">%)<span class=\"ls1\">, </span></span></span></span>and <span class=\"ls220\">on a proportiona<span class=\"ls1fc\">lly<span class=\"ls1\"> </span></span></span></span></span>consolidated basis was <span class=\"ls221\">3.9%<span class=\"fc13 ls1\"> </span><span class=\"ls243\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: </span></span>3.<span class=\"ls1\">6<span class=\"ls276\">%).</span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-471": {
   "value": "6 <span class=\"_ _23\"> </span><span class=\"ls274\">Net financing <span class=\"ls21d\">charges</span></span> <table class=\"s we3 h15a\" id=\"_6eb5aa04-53e5-4daf-b7c2-c4e54eb991f0\"><tr><td></td><td class=\"c x200 y3555 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3555 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3556 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3556 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3557 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e2 ws1\">Underlying<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3558 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3559 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls214 ws1\">Facilities and <span class=\"_ _1\"></span>overdrafts<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(38)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(36)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355a w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">35<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Other loa<span class=\"_ _1\"></span>ns<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355b w24 hfd\"><div class=\"t m0 x196 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(10<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y355b w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">6</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355c w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Obligatio<span class=\"_ _1\"></span>ns under head<span class=\"_ _1\"></span> leases<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355d w24 hfd\"><div class=\"t m0 x19a hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(113)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355d w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(9<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355e w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Development int<span class=\"_ _1\"></span>erest capital<span class=\"_ _1\"></span>ised<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(87)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(6<span class=\"ls1\">2</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y3560 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls214 ws1\">Financing income<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3561 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls20a ws1\">Deposits, s<span class=\"_ _1\"></span>ecurities and <span class=\"_ _1\"></span><span class=\"ls1e5\">liquid inves<span class=\"_ _0\"></span>tments</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3561 w24 hfd\"><div class=\"t m0 x1aa hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3561 w24 hfd\"><div class=\"t m0 x1 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td></td><td class=\"c x1fc y3562 w24 hfe\"><div class=\"t m0 x1aa hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3562 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y3563 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng charges <span class=\"ls1\">\u2013 <span class=\"ls1e2\">Underlying</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff42 fsba fc11 sc0 ls1da ws1\">(85)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">60</span>) </div></td></tr><tr><td class=\"c x1fe y3565 we4 h15b\"><div class=\"t m0 x1e7 hfb y3564 ff42 fsba fc4 sc0 ls1d9 ws1\">Capital and other<span class=\"_ _216\"> </span></div><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3566 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing costs<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3566 w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3566 w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3567 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair val<span class=\"_ _1\"></span>ue hedge accounted <span class=\"_ _1\"></span>derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3567 w24 hfd\"><div class=\"t m0 x8f hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3567 w24 hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td></tr><tr><td class=\"c x1f9 y3568 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair <span class=\"ls272\">value hedge accounted debt</span><span class=\"ls272\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3568 w24 hfe\"><div class=\"t m0 x1 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3568 w24 hfe\"><div class=\"t m0 x192 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3569 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on non<span class=\"ls1\">-<span class=\"ls1dd\">hedge accounted derivatives</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3569 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1d7\">29</span>) </div></td><td class=\"c x1fd y3569 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(40)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng<span class=\"ls1\"> <span class=\"ls1e6\">charges</span> \u2013 <span class=\"ls1d9\">Capital and other</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356c w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing i<span class=\"_ _1\"></span>ncome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356c w24 hfe\"><div class=\"t m0 x1aa hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y356c w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y356d w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing char<span class=\"_ _1\"></span>ges<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356d w24 hfd\"><div class=\"t m0 x19d hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">119)</span> </div></td><td class=\"c x1fd y356d w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y356e w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng <span class=\"ls1e6\">charges</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y356e w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356e w24 hfe\"><div class=\"t m0 x19b hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">3</span><span class=\"ls1\">) </span></div></td></tr></table>The <span class=\"ls20d\">Group\u2019s <span class=\"_ _1\"></span>weighted average<span class=\"_ _1\"></span> interest <span class=\"_ _1\"></span>rate <span class=\"ls225\">as at 31 March <span class=\"_ _1\"></span>2026 <span class=\"ls236\">was<span class=\"fc13 ls1\"> </span><span class=\"ls221\">3.6%<span class=\"ls1\"> (<span class=\"ls268\">2024/25<span class=\"ls26a\">: </span></span></span>3.2<span class=\"ls276\">%)<span class=\"ls1\">, </span></span></span></span>and <span class=\"ls220\">on a proportiona<span class=\"ls1fc\">lly<span class=\"ls1\"> </span></span></span></span></span>consolidated basis was <span class=\"ls221\">3.9%<span class=\"fc13 ls1\"> </span><span class=\"ls243\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: </span></span>3.<span class=\"ls1\">6<span class=\"ls276\">%).</span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-454": {
   "value": "6 <span class=\"_ _23\"> </span><span class=\"ls274\">Net financing <span class=\"ls21d\">charges</span></span> <table class=\"s we3 h15a\" id=\"_6eb5aa04-53e5-4daf-b7c2-c4e54eb991f0\"><tr><td></td><td class=\"c x200 y3555 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3555 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3556 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3556 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3557 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e2 ws1\">Underlying<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3558 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3559 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls214 ws1\">Facilities and <span class=\"_ _1\"></span>overdrafts<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(38)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3559 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(36)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355a w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">35<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355a w24 hfe\"><div class=\"t m0 x1a2 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y355b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Other loa<span class=\"_ _1\"></span>ns<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355b w24 hfd\"><div class=\"t m0 x196 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(10<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y355b w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">6</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355c w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Obligatio<span class=\"_ _1\"></span>ns under head<span class=\"_ _1\"></span> leases<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355c w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355d w24 hfd\"><div class=\"t m0 x19a hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(113)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355d w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(9<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y355e w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Development int<span class=\"_ _1\"></span>erest capital<span class=\"_ _1\"></span>ised<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355e w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(87)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y355f w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(6<span class=\"ls1\">2</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y3560 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls214 ws1\">Financing income<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3561 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls20a ws1\">Deposits, s<span class=\"_ _1\"></span>ecurities and <span class=\"_ _1\"></span><span class=\"ls1e5\">liquid inves<span class=\"_ _0\"></span>tments</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3561 w24 hfd\"><div class=\"t m0 x1aa hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3561 w24 hfd\"><div class=\"t m0 x1 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td></td><td class=\"c x1fc y3562 w24 hfe\"><div class=\"t m0 x1aa hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3562 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y3563 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng charges <span class=\"ls1\">\u2013 <span class=\"ls1e2\">Underlying</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff42 fsba fc11 sc0 ls1da ws1\">(85)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3563 w24 hfe\"><div class=\"t m0 x1a3 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">60</span>) </div></td></tr><tr><td class=\"c x1fe y3565 we4 h15b\"><div class=\"t m0 x1e7 hfb y3564 ff42 fsba fc4 sc0 ls1d9 ws1\">Capital and other<span class=\"_ _216\"> </span></div><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls214 ws1\">Financing charges<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3566 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing costs<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3566 w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3566 w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3567 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair val<span class=\"_ _1\"></span>ue hedge accounted <span class=\"_ _1\"></span>derivatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3567 w24 hfd\"><div class=\"t m0 x8f hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3567 w24 hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td></tr><tr><td class=\"c x1f9 y3568 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on fair <span class=\"ls272\">value hedge accounted debt</span><span class=\"ls272\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3568 w24 hfe\"><div class=\"t m0 x1 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3568 w24 hfe\"><div class=\"t m0 x192 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3569 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1e2 ws1\">Valuation movement<span class=\"_ _1\"></span> on non<span class=\"ls1\">-<span class=\"ls1dd\">hedge accounted derivatives</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3569 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1d7\">29</span>) </div></td><td class=\"c x1fd y3569 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(40)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356a w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356b w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng<span class=\"ls1\"> <span class=\"ls1e6\">charges</span> \u2013 <span class=\"ls1d9\">Capital and other</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356b w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y356c w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing i<span class=\"_ _1\"></span>ncome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356c w24 hfe\"><div class=\"t m0 x1aa hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y356c w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y356d w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">Total financing char<span class=\"_ _1\"></span>ges<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y356d w24 hfd\"><div class=\"t m0 x19d hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">119)</span> </div></td><td class=\"c x1fd y356d w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">5</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y356e w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng <span class=\"ls1e6\">charges</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y356e w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y356e w24 hfe\"><div class=\"t m0 x19b hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">3</span><span class=\"ls1\">) </span></div></td></tr></table>The <span class=\"ls20d\">Group\u2019s <span class=\"_ _1\"></span>weighted average<span class=\"_ _1\"></span> interest <span class=\"_ _1\"></span>rate <span class=\"ls225\">as at 31 March <span class=\"_ _1\"></span>2026 <span class=\"ls236\">was<span class=\"fc13 ls1\"> </span><span class=\"ls221\">3.6%<span class=\"ls1\"> (<span class=\"ls268\">2024/25<span class=\"ls26a\">: </span></span></span>3.2<span class=\"ls276\">%)<span class=\"ls1\">, </span></span></span></span>and <span class=\"ls220\">on a proportiona<span class=\"ls1fc\">lly<span class=\"ls1\"> </span></span></span></span></span>consolidated basis was <span class=\"ls221\">3.9%<span class=\"fc13 ls1\"> </span><span class=\"ls243\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: </span></span>3.<span class=\"ls1\">6<span class=\"ls276\">%).</span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-433": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs253\">7 <span class=\"_ _23\"> </span><span class=\"ls277\">Taxation</span> </div><div class=\"gs246\"><table class=\"s we5 h15c\" id=\"_6ce9f4a6-3451-49ab-ab32-c62be6b5e587\"><tr><td></td><td class=\"c x200 y356f w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y356f w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3570 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3570 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3571 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e0 ws1\">Taxation <span class=\"ls207\">income (<span class=\"ls1dd\">expense<span class=\"ls1\">) </span></span></span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3572 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff42 fsba fc4 sc0 ls1d9 ws1\">Current taxation<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3573 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls1e2 ws1\">Underlying Prof<span class=\"_ _1\"></span>it<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3574 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d9 ws1\">Current period <span class=\"_ _1\"></span>UK corporation taxat<span class=\"_ _1\"></span>ion (<span class=\"ls208\">25%)<span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3574 w24 hfd\"><div class=\"t m0 x1ad hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3574 w24 hfd\"><div class=\"t m0 x1a4 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3575 w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying <span class=\"ls1\">P<span class=\"ls1ee\">rofit adjustments in respect of prior periods</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3575 w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3575 w24 hfe\"><div class=\"t m0 x1aa hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3576 w25 hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1e0 ws1\">Total current Underlyi<span class=\"_ _1\"></span>ng Profit taxation expense<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3576 w24 hfe\"><div class=\"t m0 x1ad hfb y2914 ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3576 w24 hfe\"><div class=\"t m0 x1ad hfb y2914 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3577 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1d9 ws1\">Capital and other<span class=\"_ _1\"></span> profit<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3578 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d9 ws1\">Current period <span class=\"_ _1\"></span>UK corporation taxat<span class=\"_ _1\"></span>ion (<span class=\"ls208\">25<span class=\"ls278\">%</span><span class=\"ls278\">)<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x1fc y3578 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3578 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3579 w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital and ot<span class=\"_ _1\"></span>her profit adjus<span class=\"_ _1\"></span>tments in respect of<span class=\"_ _1\"></span> prior periods<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3579 w24 hfd\"><div class=\"t m0 x1aa hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x1fd y3579 w24 hfd\"><div class=\"t m0 x1aa hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y357a w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff42 fsba fc4 sc0 ls1e0 ws1\">Total current Capital<span class=\"_ _1\"></span> and other profit taxati<span class=\"_ _1\"></span>on <span class=\"ls207\">income (<span class=\"ls1dd\">exp<span class=\"_ _0\"></span>ense<span class=\"ls1\">) </span></span></span></div></td><td class=\"c x1fc y357a w24 hfd\"><div class=\"t m0 x1aa hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x1fd y357a w24 hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y357b w25 hfd\"><div class=\"t m0 x0 hfb y297c ff42 fsba fc4 sc0 ls1e0 ws1\">Total current taxati<span class=\"_ _1\"></span>on <span class=\"ls207\">income (<span class=\"ls1dd\">expense<span class=\"ls1\">)<span class=\"_ _0\"></span>  </span></span></span></div></td><td class=\"c x1fc y357b w24 hfd\"><div class=\"t m0 x1aa hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y357b w24 hfd\"><div class=\"t m0 x1a4 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y357c w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20a ws1\">Deferred tax<span class=\"_ _1\"></span>ation on reval<span class=\"_ _1\"></span>uation of deri<span class=\"_ _1\"></span>vatives<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y357c w24 hfe\"><div class=\"t m0 x1aa hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y357c w24 hfe\"><div class=\"t m0 x13a hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td></tr><tr><td class=\"c x1f9 y357d w25 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls20a ws1\">Group total <span class=\"_ _1\"></span>taxation <span class=\"ls207\">income (<span class=\"ls1dd\">expense<span class=\"ls1\">) </span></span></span></div></td><td class=\"c x1fc y357d w24 hfe\"><div class=\"t m0 x1aa hfb y293b ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y357d w24 hfe\"><div class=\"t m0 x1ad hfb y293b ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y357e w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1e1 ws1\">Attributabl<span class=\"_ _1\"></span>e to joint v<span class=\"_ _1\"></span>entures<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y357e w24 hfd\"><div class=\"t m0 x1a4 hfb y29a1 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y357e w24 hfd\"><div class=\"t m0 x1 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y357f w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total taxation <span class=\"ls207\">income (<span class=\"ls1dd\">expense<span class=\"ls1\">) </span></span></span></div></td><td class=\"c x1fc y357f w24 hfe\"><div class=\"t m0 x16e hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x1fd y357f w24 hfe\"><div class=\"t m0 x1ad hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">(4) </div></td></tr><tr><td class=\"c x1f9 y3580 w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls1e0 ws1\">Taxation reconciliat<span class=\"_ _1\"></span>ion<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3581 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1ee\">rofit</span> <span class=\"ls1eb\">before taxation</span> </div></td><td class=\"c x1fc y3581 w24 hfe\"><div class=\"t m0 x19d hfb y28e1 ff42 fsba fc11 sc0 ls1e9 ws1\">450<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3581 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">342<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3582 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">L<span class=\"ls208\">ess: <span class=\"ls1eb\">Profit</span></span> <span class=\"ls1e6\">attributable to j<span class=\"_ _1\"></span>oint ventures</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3582 w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(188)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3582 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">90</span>) </div></td></tr><tr><td class=\"c x1f9 y3583 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls20a ws1\">Group profit<span class=\"_ _1\"></span> before taxati<span class=\"_ _1\"></span>on<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3583 w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">262<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3583 w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff3f fsba fc4 sc0 ls208 ws1\">252<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3584 w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">Taxation on <span class=\"ls1eb\">profit <span class=\"_ _1\"></span><span class=\"ls1e6\">at UK corporation taxation rate of <span class=\"ls1ea\">25<span class=\"ls278\">%</span></span></span></span><span class=\"ls1eb\"><span class=\"ls1e6\"><span class=\"ls1ea\"><span class=\"ls278\"> <span class=\"ls1\"> </span></span></span></span></span></div></td><td class=\"c x1fc y3584 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f5 ff42 fsba fc11 sc0 ls1da ws1\">(66)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3584 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f5 ff3f fsba fc4 sc0 ls1db ws1\">(6<span class=\"ls1\">3</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y3585 w25 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1d8 ws1\">Effects of:<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3586 w25 hfe\"><div class=\"t m0 x1b8 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1d6\">REIT exempt income and <span class=\"_ _1\"></span>gains</span><span class=\"ls1d6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3586 w24 hfe\"><div class=\"t m0 x192 hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">70<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3586 w24 hfe\"><div class=\"t m0 x1ad hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">72<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3587 w25 hfd\"><div class=\"t m0 x1b8 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1e0\">Taxation losses</span> </div></td><td class=\"c x1fc y3587 w24 hfd\"><div class=\"t m0 x1a4 hfb y29a1 ff42 fsba fc11 sc0 ls1da ws1\">(8)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3587 w24 hfd\"><div class=\"t m0 x192 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3588 w25 hfe\"><div class=\"t m0 x1b8 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls20a\">Deferred <span class=\"ls1ee\">taxation on revaluation of derivatives</span></span> </div></td><td class=\"c x1fc y3588 w24 hfe\"><div class=\"t m0 x1aa hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3588 w24 hfe\"><div class=\"t m0 x13a hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td></tr><tr><td class=\"c x1f9 y3589 w25 hfe\"><div class=\"t m0 x1b8 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1e1\">Adjustments in <span class=\"_ _1\"></span>respect of pri<span class=\"_ _1\"></span>or years</span><span class=\"ls1e1\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3589 w24 hfe\"><div class=\"t m0 x1aa hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x1fd y3589 w24 hfe\"><div class=\"t m0 x1a4 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y358a w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls20a ws1\">Group total <span class=\"_ _1\"></span>taxation <span class=\"ls207\">income (<span class=\"ls1dd\">expense<span class=\"ls1\">) </span></span></span></div></td><td class=\"c x1fc y358a w24 hfe\"><div class=\"t m0 x1aa hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y358a w24 hfe\"><div class=\"t m0 x1ad hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs254\">Corporation <span class=\"_ _1\"></span>tax <span class=\"ls1fc\">liability<span class=\"ls1\"> <span class=\"ls225\">as at 31</span> <span class=\"ls230\">March 202</span>6 <span class=\"ls236\">was </span>\u00a33m <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"_ _0\"></span></span>6m </span>liabilit<span class=\"_ _0\"></span>y<span class=\"ls243\">) as shown on the consolidated b<span class=\"_ _0\"></span>alance </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs255\">sheet. <span class=\"ls220\">The<span class=\"ls1\"> <span class=\"ls226\">credit to the consolidated i<span class=\"_ _1\"></span>ncome statement for the current <span class=\"ls223\">year in rel<span class=\"_ _1\"></span>ation to the deferred taxation </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs256\">movement <span class=\"_ _1\"></span>on the <span class=\"_ _1\"></span>revaluat<span class=\"_ _1\"></span>ion of<span class=\"_ _1\"></span> deriva<span class=\"_ _1\"></span>tives wa<span class=\"_ _1\"></span>s \u00a3<span class=\"ls1\">2</span>m (<span class=\"ls268\">202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a31m <span class=\"ls226\">cred<span class=\"ls1fc\">it<span class=\"ls243\">).</span></span></span></span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs257\">At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6 <span class=\"ls222\">the Group had</span> <span class=\"_ _0\"></span><span class=\"ls226\">capital losses of </span>\u00a3<span class=\"ls268\">732</span>m <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a37<span class=\"ls221\">30<span class=\"_ _0\"></span><span class=\"ls233\">m) ava<span class=\"_ _1\"></span>ilable <span class=\"_ _1\"></span>to off<span class=\"_ _1\"></span>set fut<span class=\"_ _1\"></span>ure capi<span class=\"_ _1\"></span>tal ga<span class=\"_ _1\"></span>ins giv<span class=\"_ _1\"></span>ing </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs258\">rise to an unrecognised d<span class=\"_ _0\"></span>eferred tax asset calculated at <span class=\"ls268\">25<span class=\"ls276\">% (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 25<span class=\"_ _0\"></span>%) of </span>\u00a3<span class=\"ls22f\">183</span>m<span class=\"_ _0\"></span> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"_ _0\"></span>18</span>3<span class=\"ls233\">m).</span>  </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs259\">At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6 <span class=\"ls222\">the Group had<span class=\"_ _0\"></span> UK revenue tax losses from<span class=\"_ _0\"></span> previous years of <span class=\"ls220\">\u00a3226m</span></span> <span class=\"ls243\">(202</span>4<span class=\"_ _0\"></span><span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a31<span class=\"ls93\">82<span class=\"ls233\">m) givin<span class=\"_ _1\"></span>g rise <span class=\"_ _1\"></span>to </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs25a\">an unrecognised deferred tax asset <span class=\"_ _1\"></span>calculated at <span class=\"ls268\">25<span class=\"ls276\">% (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 25%) of </span>\u00a35<span class=\"_ _0\"></span>7m <span class=\"ls243\">(202</span>4<span class=\"_ _0\"></span><span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a34</span>6<span class=\"ls233\">m).</span>  </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls156 ws1 gs25b\">A REIT is<span class=\"_ _1\"></span> required <span class=\"_ _1\"></span>to pay Prope<span class=\"_ _1\"></span>rty Income Di<span class=\"_ _1\"></span>stributio<span class=\"_ _1\"></span>ns (PIDs) o<span class=\"ls23c\">f at least 90% of the taxable profits<span class=\"_ _0\"></span> from its UK propert<span class=\"_ _0\"></span>y </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs25c\">rental business within 12 mo<span class=\"_ _0\"></span>nths of the end of each acco<span class=\"_ _0\"></span>unting period. <span class=\"ls1\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-434": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls279 ws1 gs25e\">8 Staff costs<span class=\"ls1\"> </span></div><div class=\"gs246\"><table class=\"s we6 h15d\" id=\"_d8b3fe9f-a6e3-4668-ad70-505ef24172b0\"><tr><td></td><td class=\"c x200 y358b w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y358b w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y358c w25 h115\"><div class=\"t m0 x0 hfb y28e3 ff42 fsba fc4 sc0 ls1ed ws1\">Staff costs (including <span class=\"_ _1\"></span>Directors)<span class=\"ls1\"> </span></div></td><td class=\"c x1f7 y358d w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y358d wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y358e w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls27a ws1\">Wages a<span class=\"_ _1\"></span>nd sala<span class=\"_ _1\"></span>ries<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y358e w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">55<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y358e w24 hfe\"><div class=\"t m0 x1a4 hfb y28f3 ff3f fsba fc4 sc0 ls1e0 ws1\">61<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y358f w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1ed ws1\">Social security costs<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y358f w24 hfd\"><div class=\"t m0 x1aa hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x1fd y358f w24 hfd\"><div class=\"t m0 x1aa hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td></tr><tr><td class=\"c x1f9 y3590 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1eb ws1\">Pension costs<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3590 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fd y3590 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y3591 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d8 ws1\">Equity<span class=\"ls1\">-<span class=\"ls1e3\">settled share</span>-<span class=\"ls1eb\">based payments</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3591 w24 hfd\"><div class=\"t m0 x1aa hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fd y3591 w24 hfd\"><div class=\"t m0 x1aa hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td></tr><tr><td></td><td class=\"c x1fc y3592 w24 hfd\"><div class=\"t m0 x1a2 hfb y29a1 ff42 fsba fc11 sc0 ls1dd ws1\">76<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3592 w24 hfd\"><div class=\"t m0 x8f hfb y29a1 ff3f fsba fc4 sc0 ls1d7 ws1\">81<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls248 ws1 gs25f\">Of the <span class=\"_ _1\"></span>\u00a3<span class=\"ls268\">76<span class=\"ls233\">m (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a38</span>1</span>m) total<span class=\"_ _1\"></span> staff <span class=\"_ _1\"></span>costs <span class=\"_ _1\"></span>for the<span class=\"_ _1\"></span> year, <span class=\"_ _1\"></span>\u00a3<span class=\"ls24a\">48</span>m (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a35</span>2</span>m) is i<span class=\"_ _1\"></span>ncluded <span class=\"_ _1\"></span>within <span class=\"_ _1\"></span>administ<span class=\"_ _1\"></span>rative </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs260\">expenses, \u00a3<span class=\"ls1\">9<span class=\"ls233\">m (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>9<span class=\"ls233\">m) with<span class=\"_ _1\"></span>in serv<span class=\"_ _1\"></span>ice char<span class=\"_ _1\"></span>ge expen<span class=\"_ _1\"></span>ses, \u00a3<span class=\"ls1\">3</span>m (<span class=\"_ _1\"></span>202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a34m<span class=\"_ _0\"></span>) within prop<span class=\"_ _0\"></span>erty opera<span class=\"_ _0\"></span>ting </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs261\">expenses<span class=\"ls1\"> <span class=\"ls225\">and</span> \u00a3<span class=\"ls22f\">16<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>16<span class=\"ls233\">m) within o<span class=\"_ _1\"></span>ther fe<span class=\"_ _1\"></span>es and c<span class=\"_ _1\"></span>ommission<span class=\"_ _1\"></span><span class=\"ls224\">s expenses<span class=\"ls1\">. </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs262\">The average monthly number <span class=\"_ _1\"></span>of employees of the Company duri<span class=\"_ _1\"></span>ng the year was <span class=\"ls221\">311<span class=\"ls1\"> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>3<span class=\"ls24a\">49<span class=\"ls243\">). The average </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs263\">monthly<span class=\"_ _1\"></span> number o<span class=\"_ _1\"></span>f Group <span class=\"_ _1\"></span>employees<span class=\"_ _1\"></span>, incl<span class=\"_ _1\"></span>uding t<span class=\"_ _1\"></span>hose empl<span class=\"_ _1\"></span>oyed dir<span class=\"_ _1\"></span>ectly a<span class=\"_ _1\"></span>t the <span class=\"_ _1\"></span>Group\u2019s <span class=\"_ _1\"></span>properti<span class=\"_ _1\"></span>es and <span class=\"_ _1\"></span>their <span class=\"_ _1\"></span>costs </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs264\">recharged to tenants, w<span class=\"_ _0\"></span>as <span class=\"ls221\">599<span class=\"ls1\"> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 6<span class=\"_ _0\"></span></span>46<span class=\"ls243\">). </span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls249 ws1 gs265\">For the year ended <span class=\"_ _1\"></span>31 March 2026, the av<span class=\"_ _1\"></span>erage monthly number of employees<span class=\"_ _1\"></span> of the Company by category <span class=\"_ _1\"></span>was </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs266\">as<span class=\"ls1\"> <span class=\"ls231\">follows: Camp<span class=\"_ _0\"></span>uses: 32 (2024/25<span class=\"_ _0\"></span>: 36)</span>; <span class=\"ls232\">Retail &amp; Lo<span class=\"_ _1\"></span>ndon Urban Logisti<span class=\"_ _1\"></span>cs: 27 (2024/<span class=\"_ _1\"></span>25: 29); Devel<span class=\"_ _1\"></span>opments: 26 </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls243 ws1 gs267\">(2024/25: 31); Storey: 5 (2024/25:<span class=\"ls1\"> <span class=\"ls220\">6); and Support Functions: 221 (<span class=\"_ _1\"></span>2024/25: 247). The average<span class=\"_ _1\"></span> number of employees </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs268\">working a<span class=\"_ _1\"></span>t the Gro<span class=\"_ _1\"></span>up\u2019s proper<span class=\"_ _1\"></span>ties and <span class=\"_ _1\"></span>their cos<span class=\"_ _1\"></span>ts rechar<span class=\"_ _1\"></span>ged to ten<span class=\"_ _1\"></span>ants of 2<span class=\"_ _1\"></span>88 (2024/25:<span class=\"_ _1\"></span> 297) ar<span class=\"_ _1\"></span>e categori<span class=\"_ _1\"></span>sed as </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs269\">Property Management. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs26a\">The Executive Direc<span class=\"_ _1\"></span>tors and Non<span class=\"ls1\">-<span class=\"ls24a\">Executive <span class=\"ls20d\">Dire<span class=\"_ _1\"></span>ctors are <span class=\"_ _1\"></span>the key management<span class=\"_ _1\"></span> personnel. <span class=\"_ _1\"></span>Their emolumen<span class=\"_ _1\"></span>ts are </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs26b\">disclosed in <span class=\"_ _1\"></span>the Remuneration Report on <span class=\"_ _1\"></span>pages <span class=\"ls22f\">100 <span class=\"ls222\">to </span>114<span class=\"ls1\">. </span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs26c\">Staff costs<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs26d\">The Group\u2019s equity<span class=\"ls1\">-<span class=\"ls224\">settled share</span>-<span class=\"ls234\">based payments<span class=\"_ _1\"></span> comprise the foll<span class=\"_ _1\"></span>owing:<span class=\"ls1\"> </span></span></span></div><div class=\"gs26e\"><table class=\"s we7 h15e\" id=\"_fc2ec12e-eccc-4d6e-b90d-80bf11e3d9ad\"><tr><td class=\"c x1f9 y3593 w34 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1ed ws1\">Scheme<span class=\"ls1\"> </span></div></td><td class=\"c x25e y3593 w36 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls214 ws1\">Fair value measure<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3594 w34 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">Long<span class=\"ls1\"> <span class=\"ls1e0\">Term <span class=\"ls1d5\">Incentive Plan (<span class=\"_ _0\"></span>LTIP)</span></span> </span></div></td><td class=\"c x25e y3594 w36 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls27b ws1\">Monte Carl<span class=\"_ _1\"></span>o model simul<span class=\"_ _1\"></span>ation and <span class=\"_ _1\"></span>Black<span class=\"ls1\">-<span class=\"ls27c\">Scholes opti<span class=\"_ _1\"></span>on valuation models</span></span><span class=\"ls1\"><span class=\"ls27c\"><span class=\"ls1\"> </span></span></span></div></td></tr><tr><td class=\"c x1f9 y3595 w34 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">Restricted Shar<span class=\"_ _1\"></span>e Plan (RSP)<span class=\"ls1\"> </span></div></td><td class=\"c x25e y3595 w36 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls20b ws1\">Market val<span class=\"_ _1\"></span>ue at gran<span class=\"_ _1\"></span>t date<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3596 w34 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1ed ws1\">Save As You Earn schemes (SAYE)<span class=\"ls1\"> </span></div></td><td class=\"c x25e y3596 w36 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">Black<span class=\"ls1\">-<span class=\"ls1ed\">Scholes option valuat<span class=\"_ _1\"></span>ion model</span></span><span class=\"ls1\"><span class=\"ls1ed\"><span class=\"ls1\"> </span></span></span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs26f\">The Group expenses an es<span class=\"_ _1\"></span>timate of how many shares ar<span class=\"_ _1\"></span>e likely to vest<span class=\"_ _1\"></span> based on the market pri<span class=\"_ _1\"></span>ce at the date of <span class=\"_ _1\"></span>grant, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs270\">taking account of exp<span class=\"_ _0\"></span>ected performance ag<span class=\"_ _0\"></span>ainst the relevant performan<span class=\"_ _0\"></span>ce targets and service periods, wh<span class=\"_ _0\"></span>ich are </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs271\">discussed in f<span class=\"_ _1\"></span>urther detail <span class=\"ls1fc\">in the Remuneratio<span class=\"_ _0\"></span>n Report.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs273\">During <span class=\"ls234\">both <span class=\"_ _1\"></span><span class=\"ls222\">the <span class=\"ls226\">current <span class=\"ls223\">year and prior year<span class=\"ls1\">, </span></span></span>the Group granted perform<span class=\"_ _0\"></span>ance shares under its Lo<span class=\"_ _0\"></span>ng<span class=\"ls1\"> <span class=\"ls220\">Term</span> <span class=\"ls22e\">Incentive P<span class=\"_ _0\"></span>lan </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs274\">scheme. Performance conditions are measured over a three<span class=\"ls1\">-<span class=\"ls223\">year period and depending on the year of grant, are a </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs275\">weighted <span class=\"_ _1\"></span>blend of <span class=\"_ _1\"></span>Total Prope<span class=\"_ _1\"></span>rty Return<span class=\"_ _1\"></span> (TPR), <span class=\"_ _1\"></span>Total Accoun<span class=\"_ _1\"></span>ting Retur<span class=\"_ _1\"></span>n (TAR) an<span class=\"_ _1\"></span>d ESG measur<span class=\"_ _1\"></span>es (see Di<span class=\"_ _1\"></span>rectors\u2019 </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls232 ws1 gs276\">Remuneration Repo<span class=\"_ _1\"></span>rt<span class=\"ls1\"> <span class=\"ls231\">for details). For non<span class=\"_ _0\"></span></span>-<span class=\"ls233\">market</span>-<span class=\"ls234\">based per<span class=\"_ _1\"></span>formance conditions, t<span class=\"_ _1\"></span>he Group uses a Black<span class=\"ls1\">-<span class=\"ls20c\">Scholes<span class=\"_ _1\"></span> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs277\">option valuation <span class=\"_ _1\"></span>method to obtain fair <span class=\"_ _1\"></span>values. For market<span class=\"ls1\">-<span class=\"ls234\">based perf<span class=\"_ _1\"></span>ormance conditions, a <span class=\"_ _1\"></span>Monte Carlo model is <span class=\"_ _1\"></span>used </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs278\">as this provides a<span class=\"ls1\"> <span class=\"ls233\">more<span class=\"_ _1\"></span> accura<span class=\"_ _1\"></span>te fair<span class=\"_ _1\"></span> value <span class=\"_ _1\"></span>for t<span class=\"ls221\">hese <span class=\"_ _1\"></span>performance conditions. The key i<span class=\"_ _1\"></span>nputs used to obtain fair<span class=\"_ _1\"></span> values </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs279\">for LTIP awards a<span class=\"_ _0\"></span>re shown below.<span class=\"ls1\"> </span></div><div class=\"gs27a\"><table class=\"s we8 h15f\" id=\"_87894825-5918-4aa7-b2c6-6968bc66872c\"><tr><td></td><td></td><td class=\"c x25f y3597 w38 hf8\"><div class=\"t m0 x1ad hf9 y28e1 ff3e fsb9 fc11 sc0 ls1ce ws1\">23<span class=\"ls1\"> <span class=\"ls27d\">June </span></span>202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td class=\"c x260 y3597 w39 hf8\"><div class=\"t m0 x1a4 hf9 y28e1 ff3d fsb9 fc4 sc0 ls1cf ws1\">20<span class=\"ls1\"> <span class=\"ls27d\">Ju<span class=\"ls235\">ne</span></span> </span>202<span class=\"ls1\">4</span><span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x261 y3598 we9 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Awards with</div></td><td class=\"c x262 y3598 wea h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Awards with no</div></td><td class=\"c x263 y3599 web h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Awards with</div></td><td class=\"c x264 y3598 wec h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Awards with no<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x265 y359a wed h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">holding period</div></td><td class=\"c x266 y359a wed h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">holding period</div></td><td class=\"c x267 y359b wee h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">holding period</div></td><td class=\"c x268 y359a wee h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">holding period<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y359c w37 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1ed ws1\">Share price<span class=\"ls1\"> </span></div></td><td class=\"c x25f y359c w3a hfd\"><div class=\"t m0 x192 hfb y29a1 ff42 fsba fc11 sc0 ls1e0 ws1\">\u00a33.79<span class=\"ls1\"> </span></div></td><td class=\"c x269 y359c w3a hfd\"><div class=\"t m0 x192 hfb y29a1 ff42 fsba fc11 sc0 ls1e0 ws1\">\u00a33.79<span class=\"ls1\"> </span></div></td><td class=\"c x260 y359c w3b hfd\"><div class=\"t m0 x1a4 hfb y29a1 ff3f fsba fc4 sc0 ls1e0 ws1\">\u00a34.17<span class=\"ls1\"> </span></div></td><td class=\"c x26a y359c w3a hfd\"><div class=\"t m0 x1ad hfb y29a1 ff3f fsba fc4 sc0 ls1e0 ws1\">\u00a34.17<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y359d w37 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1d8 ws1\">Exercise price<span class=\"ls1\"> </span></div></td><td class=\"c x25f y359d w3a hfe\"><div class=\"t m0 x1a3 hfb y2914 ff42 fsba fc11 sc0 ls1e0 ws1\">\u00a30.00<span class=\"ls1\"> </span></div></td><td class=\"c x269 y359d w3a hfe\"><div class=\"t m0 x1a3 hfb y2914 ff42 fsba fc11 sc0 ls1e0 ws1\">\u00a30.00<span class=\"ls1\"> </span></div></td><td class=\"c x260 y359d w3b hfe\"><div class=\"t m0 x19e hfb y2914 ff3f fsba fc4 sc0 ls1e0 ws1\">\u00a30.00<span class=\"ls1\"> </span></div></td><td class=\"c x26a y359d w3a hfe\"><div class=\"t m0 x1a3 hfb y2914 ff3f fsba fc4 sc0 ls1e0 ws1\">\u00a30.00<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y359e w37 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1d8 ws1\">Expected volatili<span class=\"_ _1\"></span>ty<span class=\"ls1\"> </span></div></td><td class=\"c x25f y359e w3a hfe\"><div class=\"t m0 x1a3 hfb y2943 ff42 fsba fc11 sc0 ls1d7 ws1\">26.9%<span class=\"ls1\"> </span></div></td><td class=\"c x269 y359e w3a hfe\"><div class=\"t m0 x1a3 hfb y2943 ff42 fsba fc11 sc0 ls1d7 ws1\">26.9%<span class=\"ls1\"> </span></div></td><td class=\"c x260 y359e w3b hfe\"><div class=\"t m0 x19e hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">30.7%<span class=\"ls1\"> </span></div></td><td class=\"c x26a y359e w3a hfe\"><div class=\"t m0 x19e hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">30.7%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y359f w37 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1d8 ws1\">Expected term (years)<span class=\"ls1\"> </span></div></td><td class=\"c x25f y359f w3a hfd\"><div class=\"t m0 x125 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x269 y359f w3a hfd\"><div class=\"t m0 x125 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x260 y359f w3b hfd\"><div class=\"t m0 x14 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x26a y359f w3a hfd\"><div class=\"t m0 x125 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td></tr><tr><td class=\"c x1f9 y35a0 w37 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Dividend yie<span class=\"_ _1\"></span>ld<span class=\"ls1\"> </span></div></td><td class=\"c x25f y35a0 w3a hfd\"><div class=\"t m0 x1a4 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">3.8%<span class=\"ls1\"> </span></div></td><td class=\"c x269 y35a0 w3a hfd\"><div class=\"t m0 x1a4 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">3.8%<span class=\"ls1\"> </span></div></td><td class=\"c x260 y35a0 w3b hfd\"><div class=\"t m0 x1bc hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">5.5%<span class=\"ls1\"> </span></div></td><td class=\"c x26a y35a0 w3a hfd\"><div class=\"t m0 x8f hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">5.5%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35a1 w37 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d6 ws1\">Risk free in<span class=\"_ _1\"></span>terest rate<span class=\"ls1\"> </span></div></td><td class=\"c x25f y35a1 w3a hfe\"><div class=\"t m0 x1ad hfb y28e1 ff42 fsba fc11 sc0 ls1e9 ws1\">4.0%<span class=\"ls1\"> </span></div></td><td class=\"c x269 y35a1 w3a hfe\"><div class=\"t m0 x1ad hfb y28e1 ff42 fsba fc11 sc0 ls1e9 ws1\">4.0%<span class=\"ls1\"> </span></div></td><td class=\"c x260 y35a1 w3b hfe\"><div class=\"t m0 x1bc hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">3.9%<span class=\"ls1\"> </span></div></td><td class=\"c x26a y35a1 w3a hfe\"><div class=\"t m0 x8f hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">3.9%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35a2 w37 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls214 ws1\">Fair value <span class=\"ls1\">\u2013 <span class=\"ls1e0\">TPR and TAR Tranches</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x25f y35a2 w3a hfd\"><div class=\"t m0 x192 hfb y28e3 ff42 fsba fc11 sc0 ls1e0 ws1\">\u00a33.36<span class=\"ls1\"> </span></div></td><td class=\"c x269 y35a2 w3a hfd\"><div class=\"t m0 x192 hfb y28e3 ff42 fsba fc11 sc0 ls1e0 ws1\">\u00a33.79<span class=\"ls1\"> </span></div></td><td class=\"c x260 y35a2 w3b hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">\u00a33.63<span class=\"ls1\"> </span></div></td><td class=\"c x26a y35a2 w3a hfd\"><div class=\"t m0 x1ad hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">\u00a34.17<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35a3 w37 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls214 ws1\">Fair value <span class=\"ls1\">\u2013 <span class=\"ls1d8\">ESG Tranche</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x25f y35a3 w3a hfe\"><div class=\"t m0 x192 hfb y28e6 ff42 fsba fc11 sc0 ls1e0 ws1\">\u00a33.36<span class=\"ls1\"> </span></div></td><td class=\"c x269 y35a3 w3a hfe\"><div class=\"t m0 x192 hfb y28e6 ff42 fsba fc11 sc0 ls1e0 ws1\">\u00a33.79<span class=\"ls1\"> </span></div></td><td class=\"c x260 y35a3 w3b hfe\"><div class=\"t m0 x1a2 hfb y28e6 ff3f fsba fc4 sc0 ls1e0 ws1\">\u00a33.63<span class=\"ls1\"> </span></div></td><td class=\"c x26a y35a3 w3a hfe\"><div class=\"t m0 x1ad hfb y28e6 ff3f fsba fc4 sc0 ls1e0 ws1\">\u00a34.17<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls230 ws1 gs27b\">Movements <span class=\"_ _1\"></span>in shares<span class=\"_ _1\"></span> and opti<span class=\"_ _1\"></span>ons are gi<span class=\"_ _1\"></span>ven in <span class=\"_ _1\"></span>Note <span class=\"ls22f\">19<span class=\"ls1\">. </span></span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-435": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs27d\">9 <span class=\"_ _23\"> </span><span class=\"ls277\">Pensions</span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs27e\">The British Land <span class=\"_ _1\"></span>Group of Companies Pension Scheme (\u2018<span class=\"_ _1\"></span>the scheme\u2019) is the<span class=\"_ _1\"></span> principal <span class=\"ls234\">defined <span class=\"_ _1\"></span>benefit pension sch<span class=\"_ _1\"></span>eme </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs27f\">in<span class=\"ls1\"> <span class=\"ls222\">the Group. The<span class=\"_ _0\"></span> assets of the scheme are he<span class=\"_ _0\"></span>ld in a trustee</span>-<span class=\"ls225\">administered fund and kept separate from those <span class=\"_ _1\"></span>of the </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs280\">Company. It <span class=\"_ _1\"></span>is not contra<span class=\"_ _1\"></span>cted out of SERP<span class=\"_ _1\"></span>S (State Earni<span class=\"_ _1\"></span>ngs<span class=\"ls1\">-<span class=\"ls232\">Related Pension<span class=\"_ _1\"></span> Scheme), it i<span class=\"_ _1\"></span>s not planned <span class=\"_ _1\"></span>to admit<span class=\"ls1\"> <span class=\"ls221\">new </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs281\">employees to the scheme and the scheme closed <span class=\"_ _1\"></span>to future accrual effecti<span class=\"_ _1\"></span>ve 1 September 2020. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs282\">The Group has two other <span class=\"_ _1\"></span>small defined benefi<span class=\"_ _1\"></span>t pension schemes. There <span class=\"_ _1\"></span>are also two <span class=\"ls1\">d<span class=\"ls223\">efined </span>c</span>ontribution <span class=\"_ _1\"></span><span class=\"ls1\">p<span class=\"ls223\">ension </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs283\">s<span class=\"ls226\">chemes. Contributions to <span class=\"ls222\">the <span class=\"ls234\">defined contr<span class=\"_ _1\"></span>ibution schemes<span class=\"ls1\"> <span class=\"ls225\">are at a fl<span class=\"_ _1\"></span>at rate of salary and are paid <span class=\"_ _1\"></span>by the Company. <span class=\"ls1\"> </span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs284\">The total net pe<span class=\"_ _1\"></span>nsion cost charged for <span class=\"_ _1\"></span>the year was <span class=\"ls1\">\u00a3<span class=\"ls268\">7m</span> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"_ _0\"></span></span>7<span class=\"ls233\">m), al<span class=\"_ _1\"></span>l of wh<span class=\"_ _1\"></span>ich rel<span class=\"_ _1\"></span>ates t<span class=\"_ _1\"></span>o define<span class=\"_ _1\"></span>d </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs285\">contribution<span class=\"ls1\"> <span class=\"ls234\">plans. </span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs286\">The last full<span class=\"_ _1\"></span> <span class=\"ls225\">actuarial valuation of t<span class=\"_ _1\"></span>he scheme was performed by the scheme actuary, First Actuari<span class=\"_ _1\"></span>al LLP, as at 31 March </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls268 ws1 gs287\">202<span class=\"ls1\">4<span class=\"ls235\">. The</span> <span class=\"ls223\">em<span class=\"_ _0\"></span>ployer does not expect to <span class=\"_ _1\"></span>make any payments during the year to 31 March <span class=\"_ _1\"></span>202<span class=\"ls1\">7<span class=\"ls235\">. Th<span class=\"_ _0\"></span>e major ass<span class=\"_ _0\"></span>umptions </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs288\">used for the actuari<span class=\"_ _1\"></span>al valuation were<span class=\"ls1\">: </span></div><div class=\"gs289\"><table class=\"s wef h160\" id=\"_85179dad-129e-442b-a8a8-11310305504a\"><tr><td></td><td class=\"c x200 y35a4 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35a4 we0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">20<span class=\"ls1\">25<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x26b y35a5 wf0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls27e ws1\">% p.a.<span class=\"_ _216\"> </span></div></td><td class=\"c x26c y35a5 wf1 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls27f ws1\">% p.a.<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35a6 w3c hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls20a ws1\">Discount rat<span class=\"_ _1\"></span>e<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35a6 w24 hfd\"><div class=\"t m0 x19e hfb y28dd ff42 fsba fc11 sc0 ls1eb ws1\">6.2<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35a6 w24 hfd\"><div class=\"t m0 x192 hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">5.8<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35a7 w3c hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1ed ws1\">Salary inflation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35a7 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35a7 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y35a8 w3c hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1eb ws1\">Pensions increase<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35a8 w24 hfd\"><div class=\"t m0 x19e hfb y2be8 ff42 fsba fc11 sc0 ls1dd ws1\">3.4<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35a8 w24 hfd\"><div class=\"t m0 x192 hfb y2be8 ff3f fsba fc4 sc0 ls1dd ws1\">3.2<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35a9 w3c hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1eb ws1\">Price inflati<span class=\"_ _1\"></span>on<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35a9 w24 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1dd ws1\">3.6<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35a9 w24 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">3.4<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs28a\">The assumptions are t<span class=\"_ _1\"></span>hat a member currently aged <span class=\"_ _1\"></span>60 will live on <span class=\"_ _1\"></span>average for a furthe<span class=\"_ _1\"></span>r <span class=\"ls268\">27.7<span class=\"ls1\"> <span class=\"ls223\">years if they are male and </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs28b\">for a further <span class=\"ls268\">29.2<span class=\"ls1\"> <span class=\"ls223\">years if they are female. For <span class=\"_ _1\"></span>a member who retires in <span class=\"ls268\">204<span class=\"ls1\">6 <span class=\"ls225\">at age 60, the assumptions are that they </span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs28c\">will l<span class=\"_ _1\"></span>ive on a<span class=\"_ _1\"></span>vera<span class=\"ls234\">ge for a f<span class=\"_ _1\"></span>urther <span class=\"ls268\">29.1<span class=\"ls1\"> <span class=\"ls223\">years after r<span class=\"_ _1\"></span>etirement if they are male and <span class=\"_ _1\"></span>for a further <span class=\"ls221\">30.7<span class=\"ls1\"> </span></span>years after ret<span class=\"_ _1\"></span>irement </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs28d\">if they are fe<span class=\"_ _0\"></span>male.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs28e\">The <span class=\"ls236\">weighted<span class=\"_ _1\"></span> average du<span class=\"_ _1\"></span>ration <span class=\"ls220\">of<span class=\"_ _1\"></span> the defined benefit <span class=\"_ _1\"></span>obligation<span class=\"ls1\"> <span class=\"ls225\">as at 31 March 202</span>6 <span class=\"ls1fc\">is</span> <span class=\"ls22f\">11</span> <span class=\"ls223\">years (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 1</span>2 <span class=\"ls223\">years).<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls236\"><span class=\"ls220\"><span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls25b ws1 gs290\">Composition of <span class=\"_ _0\"></span>scheme assets<span class=\"ls1\"> </span></div><div class=\"gs291\"><table class=\"s wf2 h161\" id=\"_0b883c89-0c68-4cee-b590-f513deda2265\"><tr><td></td><td class=\"c x200 y35aa w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35aa w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y35ab w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35ab wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ac w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d8 ws1\">Equities<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ac w24 hfd\"><div class=\"t m0 x1a4 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">17<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ac w24 hfd\"><div class=\"t m0 x8f hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ad w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls20a ws1\">Diversifie<span class=\"_ _1\"></span>d growth funds<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ad w24 hfe\"><div class=\"t m0 x1ad hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ad w24 hfe\"><div class=\"t m0 x8f hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ae w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls204 ws1\">Other ass<span class=\"_ _1\"></span>ets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ae w24 hfd\"><div class=\"t m0 x1a2 hfb y292b ff42 fsba fc11 sc0 ls1eb ws1\">63<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ae w24 hfd\"><div class=\"t m0 x1a2 hfb y292b ff3f fsba fc4 sc0 ls1e0 ws1\">62<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35af w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls1e0 ws1\">Total scheme assets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35af w24 hfd\"><div class=\"t m0 x192 hfb y28ef ff42 fsba fc11 sc0 ls1eb ws1\">94<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35af w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls93 ws1 gs292\">81<span class=\"ls1\">% <span class=\"ls243\">(2024/25: 69%<span class=\"_ _0\"></span>) <span class=\"ls220\">of the scheme <span class=\"ls221\">underl<span class=\"_ _1\"></span>ying <span class=\"ls225\">assets are quoted in an acti<span class=\"_ _1\"></span>ve market. <span class=\"ls1\">U<span class=\"ls221\">nquoted scheme assets sit withi<span class=\"_ _1\"></span>n </span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs293\">equities<span class=\"ls1\"> <span class=\"ls225\">and other assets.</span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs294\">The amount included i<span class=\"_ _1\"></span>n the<span class=\"ls1\"> <span class=\"ls226\">consolidated</span> <span class=\"ls234\">balance sheet ari<span class=\"_ _1\"></span>sing from the Group\u2019s<span class=\"_ _1\"></span> obligations in <span class=\"_ _1\"></span>respect of its def<span class=\"_ _1\"></span>ined </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs295\">benefit schemes i<span class=\"_ _1\"></span>s as follows:<span class=\"ls1\"> </span></div><div class=\"gs296\"><table class=\"s wf3 h162\" id=\"_b0dce996-66bc-4d40-ab1c-39b125ee8212\"><tr><td></td><td class=\"c x200 y35b0 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35b0 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y35ab w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35ab wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b1 w3c hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1eb ws1\">Present value of <span class=\"_ _1\"></span>defined scheme obligations<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35b1 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b1 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(74)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b2 w3c hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls214 ws1\">Fair value of s<span class=\"_ _1\"></span>cheme assets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35b2 w24 hfd\"><div class=\"t m0 x192 hfb y297c ff42 fsba fc11 sc0 ls1eb ws1\">94<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b2 w24 hfd\"><div class=\"t m0 x1a2 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b3 w3c hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d5 ws1\">Irrecoverable su<span class=\"_ _0\"></span>rplus<span class=\"_ _216\"> </span></div><div class=\"t m0 x11f hff y2cab ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x11 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y35b3 w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b3 w24 hfe\"><div class=\"t m0 x192 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(19)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b4 w3c hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Amount recognis<span class=\"_ _1\"></span>ed on the <span class=\"ls1e6\">consolidated <span class=\"ls1d8\">balanc<span class=\"_ _1\"></span>e sheet</span></span><span class=\"ls1e6\"><span class=\"ls1d8\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x1fc y35b4 w24 hfe\"><div class=\"t m0 x1 hfb y293b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35b4 w24 hfe\"><div class=\"t m0 x1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs297\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The net defined benefit asset must <span class=\"_ _1\"></span>be measured at the lower of the surplus <span class=\"_ _1\"></span>in the defined benefit schemes and the a<span class=\"_ _1\"></span>sset ceili<span class=\"ls200\">ng. The </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f4 ws1 gs298\">asset ceiling is the present value of any economic benefi<span class=\"_ _1\"></span>ts available in the form of refunds from the schemes or reductions<span class=\"ls1\"> <span class=\"ls1f3\">to future </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f4 ws1 gs299\">contributions to the schemes. The asset ceiling of the <span class=\"_ _1\"></span>Group\u2019s defined benefit schemes is <span class=\"ls1\">\u00a3<span class=\"ls200\">nil</span> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3nil), therefore t<span class=\"_ _0\"></span>he surplus </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f9 ws1 gs29a\">in<span class=\"ls1\"> <span class=\"ls1f3\">the defined benefit scheme<span class=\"_ _0\"></span>s of </span>\u00a3<span class=\"ls1fe\">22<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fd\">19<span class=\"ls1f5\">m) is ir<span class=\"_ _1\"></span>recoverable.<span class=\"ls1\"> </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs29b\">The sensitivit<span class=\"_ _1\"></span>ies of the defined <span class=\"_ _1\"></span>benef<span class=\"ls1fc\">it obligatio<span class=\"_ _0\"></span>n in relation to<span class=\"_ _0\"></span> the major a<span class=\"_ _0\"></span>ctuarial assum<span class=\"_ _0\"></span>ptions use<span class=\"_ _0\"></span>d to measu<span class=\"_ _0\"></span>re scheme </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs29c\">liabilities are a<span class=\"_ _0\"></span>s follows:<span class=\"ls1\"> </span></div><div class=\"gs29d\"><table class=\"s wf4 h163\" id=\"_7f471b10-c1d9-4e19-be91-d07b77d329af\"><tr><td></td><td></td><td></td><td class=\"c x26d y35b5 wf5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls280 ws1\">(Decrease) increase i<span class=\"ls1\">n<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td></td><td></td><td class=\"c x26e y35b6 wf6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">defined scheme obligations<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x26f y35a4 wf7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Change in<span class=\"_ _216\"> </span></div></td><td class=\"c x200 y35a4 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35a4 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y35b7 w3d h106\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e1 ws1\">Assumption<span class=\"ls1\"> </span></div></td><td class=\"c x270 y35a5 wf8 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d5 ws1\">assumption<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y35a5 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35a5 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b8 w3d hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls20a ws1\">Discount rat<span class=\"_ _1\"></span>e<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y35b8 w24 hfd\"><div class=\"t m0 x198 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">+<span class=\"ls275\">0.5</span>% </div></td><td class=\"c x1fc y35b8 w24 hfd\"><div class=\"t m0 x1ad hfb y28e8 ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b8 w24 hfd\"><div class=\"t m0 x1ad hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b9 w3d hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1ed ws1\">Salary <span class=\"ls1e5\">inflation</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1e6 y35b9 w24 hfe\"><div class=\"t m0 x198 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">+<span class=\"ls275\">0.5</span>% </div></td><td class=\"c x1fc y35b9 w24 hfe\"><div class=\"t m0 x1 hfb y28f5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35b9 w24 hfe\"><div class=\"t m0 x1 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y35ba w3d hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">RPI inflati<span class=\"_ _1\"></span>on<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y35ba w24 hfd\"><div class=\"t m0 x198 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">+<span class=\"ls275\">0.5</span>% </div></td><td class=\"c x1fc y35ba w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fd y35ba w24 hfd\"><div class=\"t m0 x1 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td></tr><tr><td class=\"c x1f9 y35bb w3d hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1e1 ws1\">Assumed life <span class=\"_ _1\"></span>expectancy<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y35bb w24 hfe\"><div class=\"t m0 x1a1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">+1 <span class=\"ls272\">year</span> </div></td><td class=\"c x1fc y35bb w24 hfe\"><div class=\"t m0 x1aa hfb y293b ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y35bb w24 hfe\"><div class=\"t m0 x1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls230 ws1 gs29f\">Movements <span class=\"_ _1\"></span>in the pr<span class=\"_ _1\"></span>esent val<span class=\"_ _1\"></span>ue of def<span class=\"_ _1\"></span>ined benef<span class=\"_ _1\"></span>it obli<span class=\"_ _1\"></span>gations we<span class=\"_ _1\"></span>re as fo<span class=\"_ _1\"></span>llows:<span class=\"ls1\"> </span></div><div class=\"gs2a0\"><table class=\"s wf9 h164\" id=\"_52196f34-312b-480f-b5d3-bb00e1a751ae\"><tr><td></td><td class=\"c x200 y351d w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y351d w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y351f w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y351f wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35bc w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1e1 ws1\">At 1 April<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35bc w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(74)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35bc w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(85)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35bd w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d5 ws1\">Interest cost<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35bd w24 hfd\"><div class=\"t m0 x1ad hfb y292f ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35bd w24 hfd\"><div class=\"t m0 x1ad hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35be w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1e1 ws1\">Actuarial g<span class=\"_ _1\"></span>ain<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y35bf w25 hfd\"><div class=\"t m0 x1b8 hfb y297c ff3f fsba fc4 sc0 ls20a ws1\">Gain from cha<span class=\"_ _1\"></span>nge in financi<span class=\"_ _1\"></span>al assumptions<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35bf w24 hfd\"><div class=\"t m0 x1aa hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y35bf w24 hfd\"><div class=\"t m0 x1a4 hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35c0 w25 hfe\"><div class=\"t m0 x1b8 hfb y2967 ff3f fsba fc4 sc0 ls20a ws1\">Gain on scheme <span class=\"_ _1\"></span>liabilitie<span class=\"_ _1\"></span>s arising fr<span class=\"_ _1\"></span>om experience<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c0 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35c0 w24 hfe\"><div class=\"t m0 x13a hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td></tr><tr><td class=\"c x1f9 y35c1 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">Benefits paid<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c1 w24 hfd\"><div class=\"t m0 x1aa hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y35c1 w24 hfd\"><div class=\"t m0 x1aa hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td></tr><tr><td class=\"c x1f9 y35c2 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1e1 ws1\">At 31 March<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c2 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1da ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35c2 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(74)<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls230 ws1 gs2a1\">Movements <span class=\"_ _1\"></span>in the f<span class=\"_ _1\"></span>air valu<span class=\"_ _1\"></span>e of the<span class=\"_ _1\"></span> scheme ass<span class=\"_ _1\"></span>ets were <span class=\"_ _1\"></span>as follo<span class=\"_ _1\"></span>ws:<span class=\"ls1\"> </span></div><div class=\"gs2a2\"><table class=\"s wf3 h165\" id=\"_d0de5f5d-89b2-4f81-983f-f07de18ffa5c\"><tr><td></td><td class=\"c x200 y35c3 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35c3 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y35c4 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35c4 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35c5 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1e1 ws1\">At<span class=\"ls1\"> <span class=\"ls1dc\">1 April</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c5 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff42 fsba fc11 sc0 ls1eb ws1\">93<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35c5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">108<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35c6 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Interest income<span class=\"_ _0\"></span> on scheme asse<span class=\"_ _0\"></span>ts<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c6 w24 hfd\"><div class=\"t m0 x1aa hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fd y35c6 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y35c7 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d9 ws1\">Contributions b<span class=\"_ _1\"></span>y employer<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c7 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35c7 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y35c8 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1e1 ws1\">Actuarial<span class=\"ls1\"> <span class=\"ls1e5\">loss</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c8 w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35c8 w24 hfd\"><div class=\"t m0 x192 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(16)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35c9 w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">Benefits paid<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c9 w24 hfe\"><div class=\"t m0 x1ad hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35c9 w24 hfe\"><div class=\"t m0 x1ad hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ca w25 hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1e1 ws1\">At 31 March<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ca w24 hfe\"><div class=\"t m0 x192 hfb y2914 ff42 fsba fc11 sc0 ls1eb ws1\">94<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ca w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2a3\">Through its defi<span class=\"_ _1\"></span>ned benefit plans, t<span class=\"_ _1\"></span>he Group is exposed to a<span class=\"_ _1\"></span> number of risks, t<span class=\"_ _1\"></span>he most significant <span class=\"_ _1\"></span>of which are </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs2a4\">detailed<span class=\"ls1\"> </span>below:<span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls26e ws1 gs2a5\">Asset volati<span class=\"_ _0\"></span>lity<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2a6\">The liabili<span class=\"_ _1\"></span>ties are calculat<span class=\"_ _1\"></span>ed using a discount r<span class=\"_ _1\"></span>ate set with refer<span class=\"_ _1\"></span>ence to corporate bond yi<span class=\"_ _1\"></span>elds; if asset<span class=\"_ _1\"></span>s und<span class=\"ls223\">erperform </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs2a7\">this yield, this will create a deficit. The schem<span class=\"_ _0\"></span>e holds a significant portion of grow<span class=\"_ _0\"></span>th assets (equities and diversified </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs2a8\">growth funds) which<span class=\"_ _1\"></span>, although expected t<span class=\"_ _1\"></span>o outperform corporate bonds <span class=\"_ _1\"></span>in the long term,<span class=\"_ _1\"></span> create volatil<span class=\"_ _1\"></span>ity and risk </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2a9\">in<span class=\"ls1\"> <span class=\"ls222\">the</span> <span class=\"ls224\">sho<span class=\"ls222\">rt term. Th<span class=\"_ _0\"></span>e allocation to growth assets is m<span class=\"_ _0\"></span>onitored to ensure it remains ap<span class=\"_ _0\"></span>propriate given the schem<span class=\"_ _0\"></span>e\u2019s </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2aa\">long<span class=\"ls1\"> <span class=\"ls222\">term ob<span class=\"_ _0\"></span>jectives.</span> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls25b ws1 gs2ab\">Changes in bond <span class=\"_ _0\"></span>yields<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs2ac\">A decrease <span class=\"_ _1\"></span>in corpora<span class=\"_ _1\"></span>te bond yiel<span class=\"_ _1\"></span>ds will i<span class=\"_ _1\"></span>ncrease th<span class=\"_ _1\"></span>e value pla<span class=\"_ _1\"></span>ced on the s<span class=\"_ _1\"></span>cheme\u2019s lia<span class=\"_ _1\"></span>bilities <span class=\"_ _1\"></span>for account<span class=\"_ _1\"></span>ing purposes<span class=\"_ _1\"></span>, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs2ad\">although this will be <span class=\"_ _1\"></span>partially offset by an incr<span class=\"_ _1\"></span>ease in the value of the schem<span class=\"ls223\">e\u2019s di<span class=\"_ _1\"></span>versified credit fund holdi<span class=\"_ _1\"></span>ngs.<span class=\"ls1\"> </span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls281 ws1 gs2ae\">Inflation risk<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2af\">The majority of <span class=\"_ _1\"></span>the scheme\u2019s benefit obl<span class=\"_ _1\"></span>igations are li<span class=\"_ _1\"></span>nked to inflation,<span class=\"_ _1\"></span> and higher inflat<span class=\"_ _1\"></span>ion will lead t<span class=\"_ _1\"></span>o higher liabili<span class=\"_ _1\"></span>tie<span class=\"ls224\">s </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls243 ws1 gs2b0\">(although, in most cases, caps on the<span class=\"_ _0\"></span> level of inflationary increases are in place to protect against extre<span class=\"_ _0\"></span>me inflation). </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2b1\">The<span class=\"ls1\"> <span class=\"ls233\">maj</span></span>ority of <span class=\"_ _1\"></span>the assets are ei<span class=\"_ _1\"></span>ther unaffected by or <span class=\"_ _1\"></span>only loosely correl<span class=\"_ _1\"></span>ated with inflati<span class=\"_ _1\"></span>on, meaning that an i<span class=\"_ _1\"></span>ncrease </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs2b2\">in<span class=\"ls1\"> </span>inflation w<span class=\"_ _0\"></span>ill also decre<span class=\"_ _0\"></span>ase the surp<span class=\"_ _0\"></span>lus.<span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls282 ws1 gs2b3\">Life expectancy<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs2b4\">The majority of <span class=\"_ _1\"></span>the scheme\u2019s obligations<span class=\"_ _1\"></span> are to provide benef<span class=\"_ _1\"></span>its for the li<span class=\"_ _1\"></span>fe of t<span class=\"ls221\">he member, so increases <span class=\"_ _1\"></span>in life </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs2b5\">expectancy will result <span class=\"_ _1\"></span>in <span class=\"ls225\">an increase in the liabi<span class=\"_ _1\"></span>lities.</span><span class=\"ls225\"><span class=\"ls1\"> </span></span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-456": {
   "value": "The total net pe<span class=\"_ _1\"></span>nsion cost charged for <span class=\"_ _1\"></span>the year was <span class=\"ls1\">\u00a3<span class=\"ls268\">7m</span> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"_ _0\"></span></span>7<span class=\"ls233\">m), al<span class=\"_ _1\"></span>l of wh<span class=\"_ _1\"></span>ich rel<span class=\"_ _1\"></span>ates t<span class=\"_ _1\"></span>o define<span class=\"_ _1\"></span>d </span></span>contribution<span class=\"ls1\"> <span class=\"ls234\">plans. </span> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDefinedContributionPlansExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-455": {
   "value": "The last full<span class=\"_ _1\"></span> <span class=\"ls225\">actuarial valuation of t<span class=\"_ _1\"></span>he scheme was performed by the scheme actuary, First Actuari<span class=\"_ _1\"></span>al LLP, as at 31 March </span>202<span class=\"ls1\">4<span class=\"ls235\">. The</span> <span class=\"ls223\">em<span class=\"_ _0\"></span>ployer does not expect to <span class=\"_ _1\"></span>make any payments during the year to 31 March <span class=\"_ _1\"></span>202<span class=\"ls1\">7<span class=\"ls235\">. Th<span class=\"_ _0\"></span>e major ass<span class=\"_ _0\"></span>umptions </span></span></span></span>used for the actuari<span class=\"_ _1\"></span>al valuation were<span class=\"ls1\">: </span><table class=\"s wef h160\" id=\"_85179dad-129e-442b-a8a8-11310305504a\"><tr><td></td><td class=\"c x200 y35a4 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35a4 we0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">20<span class=\"ls1\">25<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x26b y35a5 wf0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls27e ws1\">% p.a.<span class=\"_ _216\"> </span></div></td><td class=\"c x26c y35a5 wf1 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls27f ws1\">% p.a.<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35a6 w3c hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls20a ws1\">Discount rat<span class=\"_ _1\"></span>e<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35a6 w24 hfd\"><div class=\"t m0 x19e hfb y28dd ff42 fsba fc11 sc0 ls1eb ws1\">6.2<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35a6 w24 hfd\"><div class=\"t m0 x192 hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">5.8<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35a7 w3c hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1ed ws1\">Salary inflation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35a7 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35a7 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y35a8 w3c hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1eb ws1\">Pensions increase<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35a8 w24 hfd\"><div class=\"t m0 x19e hfb y2be8 ff42 fsba fc11 sc0 ls1dd ws1\">3.4<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35a8 w24 hfd\"><div class=\"t m0 x192 hfb y2be8 ff3f fsba fc4 sc0 ls1dd ws1\">3.2<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35a9 w3c hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1eb ws1\">Price inflati<span class=\"_ _1\"></span>on<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35a9 w24 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1dd ws1\">3.6<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35a9 w24 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">3.4<span class=\"ls1\"> </span></div></td></tr></table>The assumptions are t<span class=\"_ _1\"></span>hat a member currently aged <span class=\"_ _1\"></span>60 will live on <span class=\"_ _1\"></span>average for a furthe<span class=\"_ _1\"></span>r <span class=\"ls268\">27.7<span class=\"ls1\"> <span class=\"ls223\">years if they are male and </span></span></span>for a further <span class=\"ls268\">29.2<span class=\"ls1\"> <span class=\"ls223\">years if they are female. For <span class=\"_ _1\"></span>a member who retires in <span class=\"ls268\">204<span class=\"ls1\">6 <span class=\"ls225\">at age 60, the assumptions are that they </span></span></span></span></span></span>will l<span class=\"_ _1\"></span>ive on a<span class=\"_ _1\"></span>vera<span class=\"ls234\">ge for a f<span class=\"_ _1\"></span>urther <span class=\"ls268\">29.1<span class=\"ls1\"> <span class=\"ls223\">years after r<span class=\"_ _1\"></span>etirement if they are male and <span class=\"_ _1\"></span>for a further <span class=\"ls221\">30.7<span class=\"ls1\"> </span></span>years after ret<span class=\"_ _1\"></span>irement </span></span></span></span>if they are fe<span class=\"_ _0\"></span>male.<span class=\"ls1\"> </span>The <span class=\"ls236\">weighted<span class=\"_ _1\"></span> average du<span class=\"_ _1\"></span>ration <span class=\"ls220\">of<span class=\"_ _1\"></span> the defined benefit <span class=\"_ _1\"></span>obligation<span class=\"ls1\"> <span class=\"ls225\">as at 31 March 202</span>6 <span class=\"ls1fc\">is</span> <span class=\"ls22f\">11</span> <span class=\"ls223\">years (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 1</span>2 <span class=\"ls223\">years).<span class=\"_ _216\"> </span></span></span></span></span>Composition of <span class=\"_ _0\"></span>scheme assets<span class=\"ls1\"> </span><table class=\"s wf2 h161\" id=\"_0b883c89-0c68-4cee-b590-f513deda2265\"><tr><td></td><td class=\"c x200 y35aa w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35aa w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y35ab w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35ab wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ac w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d8 ws1\">Equities<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ac w24 hfd\"><div class=\"t m0 x1a4 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">17<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ac w24 hfd\"><div class=\"t m0 x8f hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ad w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls20a ws1\">Diversifie<span class=\"_ _1\"></span>d growth funds<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ad w24 hfe\"><div class=\"t m0 x1ad hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ad w24 hfe\"><div class=\"t m0 x8f hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ae w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls204 ws1\">Other ass<span class=\"_ _1\"></span>ets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ae w24 hfd\"><div class=\"t m0 x1a2 hfb y292b ff42 fsba fc11 sc0 ls1eb ws1\">63<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ae w24 hfd\"><div class=\"t m0 x1a2 hfb y292b ff3f fsba fc4 sc0 ls1e0 ws1\">62<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35af w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls1e0 ws1\">Total scheme assets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35af w24 hfd\"><div class=\"t m0 x192 hfb y28ef ff42 fsba fc11 sc0 ls1eb ws1\">94<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35af w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td></tr></table>81<span class=\"ls1\">% <span class=\"ls243\">(2024/25: 69%<span class=\"_ _0\"></span>) <span class=\"ls220\">of the scheme <span class=\"ls221\">underl<span class=\"_ _1\"></span>ying <span class=\"ls225\">assets are quoted in an acti<span class=\"_ _1\"></span>ve market. <span class=\"ls1\">U<span class=\"ls221\">nquoted scheme assets sit withi<span class=\"_ _1\"></span>n </span></span></span></span></span></span></span>equities<span class=\"ls1\"> <span class=\"ls225\">and other assets.</span> </span>The amount included i<span class=\"_ _1\"></span>n the<span class=\"ls1\"> <span class=\"ls226\">consolidated</span> <span class=\"ls234\">balance sheet ari<span class=\"_ _1\"></span>sing from the Group\u2019s<span class=\"_ _1\"></span> obligations in <span class=\"_ _1\"></span>respect of its def<span class=\"_ _1\"></span>ined </span></span>benefit schemes i<span class=\"_ _1\"></span>s as follows:<span class=\"ls1\"> </span><table class=\"s wf3 h162\" id=\"_b0dce996-66bc-4d40-ab1c-39b125ee8212\"><tr><td></td><td class=\"c x200 y35b0 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35b0 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y35ab w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35ab wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b1 w3c hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1eb ws1\">Present value of <span class=\"_ _1\"></span>defined scheme obligations<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35b1 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b1 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(74)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b2 w3c hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls214 ws1\">Fair value of s<span class=\"_ _1\"></span>cheme assets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35b2 w24 hfd\"><div class=\"t m0 x192 hfb y297c ff42 fsba fc11 sc0 ls1eb ws1\">94<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b2 w24 hfd\"><div class=\"t m0 x1a2 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b3 w3c hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d5 ws1\">Irrecoverable su<span class=\"_ _0\"></span>rplus<span class=\"_ _216\"> </span></div><div class=\"t m0 x11f hff y2cab ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x11 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y35b3 w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b3 w24 hfe\"><div class=\"t m0 x192 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(19)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b4 w3c hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Amount recognis<span class=\"_ _1\"></span>ed on the <span class=\"ls1e6\">consolidated <span class=\"ls1d8\">balanc<span class=\"_ _1\"></span>e sheet</span></span><span class=\"ls1e6\"><span class=\"ls1d8\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x1fc y35b4 w24 hfe\"><div class=\"t m0 x1 hfb y293b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35b4 w24 hfe\"><div class=\"t m0 x1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The net defined benefit asset must <span class=\"_ _1\"></span>be measured at the lower of the surplus <span class=\"_ _1\"></span>in the defined benefit schemes and the a<span class=\"_ _1\"></span>sset ceili<span class=\"ls200\">ng. The </span></span></span>asset ceiling is the present value of any economic benefi<span class=\"_ _1\"></span>ts available in the form of refunds from the schemes or reductions<span class=\"ls1\"> <span class=\"ls1f3\">to future </span></span>contributions to the schemes. The asset ceiling of the <span class=\"_ _1\"></span>Group\u2019s defined benefit schemes is <span class=\"ls1\">\u00a3<span class=\"ls200\">nil</span> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3nil), therefore t<span class=\"_ _0\"></span>he surplus </span></span>in<span class=\"ls1\"> <span class=\"ls1f3\">the defined benefit scheme<span class=\"_ _0\"></span>s of </span>\u00a3<span class=\"ls1fe\">22<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fd\">19<span class=\"ls1f5\">m) is ir<span class=\"_ _1\"></span>recoverable.<span class=\"ls1\"> </span></span></span></span></span>The sensitivit<span class=\"_ _1\"></span>ies of the defined <span class=\"_ _1\"></span>benef<span class=\"ls1fc\">it obligatio<span class=\"_ _0\"></span>n in relation to<span class=\"_ _0\"></span> the major a<span class=\"_ _0\"></span>ctuarial assum<span class=\"_ _0\"></span>ptions use<span class=\"_ _0\"></span>d to measu<span class=\"_ _0\"></span>re scheme </span>liabilities are a<span class=\"_ _0\"></span>s follows:<span class=\"ls1\"> </span><table class=\"s wf4 h163\" id=\"_7f471b10-c1d9-4e19-be91-d07b77d329af\"><tr><td></td><td></td><td></td><td class=\"c x26d y35b5 wf5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls280 ws1\">(Decrease) increase i<span class=\"ls1\">n<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td></td><td></td><td class=\"c x26e y35b6 wf6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">defined scheme obligations<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x26f y35a4 wf7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Change in<span class=\"_ _216\"> </span></div></td><td class=\"c x200 y35a4 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35a4 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y35b7 w3d h106\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e1 ws1\">Assumption<span class=\"ls1\"> </span></div></td><td class=\"c x270 y35a5 wf8 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d5 ws1\">assumption<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y35a5 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35a5 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b8 w3d hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls20a ws1\">Discount rat<span class=\"_ _1\"></span>e<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y35b8 w24 hfd\"><div class=\"t m0 x198 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">+<span class=\"ls275\">0.5</span>% </div></td><td class=\"c x1fc y35b8 w24 hfd\"><div class=\"t m0 x1ad hfb y28e8 ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b8 w24 hfd\"><div class=\"t m0 x1ad hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b9 w3d hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1ed ws1\">Salary <span class=\"ls1e5\">inflation</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1e6 y35b9 w24 hfe\"><div class=\"t m0 x198 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">+<span class=\"ls275\">0.5</span>% </div></td><td class=\"c x1fc y35b9 w24 hfe\"><div class=\"t m0 x1 hfb y28f5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35b9 w24 hfe\"><div class=\"t m0 x1 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y35ba w3d hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">RPI inflati<span class=\"_ _1\"></span>on<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y35ba w24 hfd\"><div class=\"t m0 x198 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">+<span class=\"ls275\">0.5</span>% </div></td><td class=\"c x1fc y35ba w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fd y35ba w24 hfd\"><div class=\"t m0 x1 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td></tr><tr><td class=\"c x1f9 y35bb w3d hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1e1 ws1\">Assumed life <span class=\"_ _1\"></span>expectancy<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y35bb w24 hfe\"><div class=\"t m0 x1a1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">+1 <span class=\"ls272\">year</span> </div></td><td class=\"c x1fc y35bb w24 hfe\"><div class=\"t m0 x1aa hfb y293b ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y35bb w24 hfe\"><div class=\"t m0 x1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr></table>Movements <span class=\"_ _1\"></span>in the pr<span class=\"_ _1\"></span>esent val<span class=\"_ _1\"></span>ue of def<span class=\"_ _1\"></span>ined benef<span class=\"_ _1\"></span>it obli<span class=\"_ _1\"></span>gations we<span class=\"_ _1\"></span>re as fo<span class=\"_ _1\"></span>llows:<span class=\"ls1\"> </span><table class=\"s wf9 h164\" id=\"_52196f34-312b-480f-b5d3-bb00e1a751ae\"><tr><td></td><td class=\"c x200 y351d w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y351d w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y351f w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y351f wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35bc w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1e1 ws1\">At 1 April<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35bc w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(74)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35bc w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(85)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35bd w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d5 ws1\">Interest cost<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35bd w24 hfd\"><div class=\"t m0 x1ad hfb y292f ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35bd w24 hfd\"><div class=\"t m0 x1ad hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35be w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1e1 ws1\">Actuarial g<span class=\"_ _1\"></span>ain<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y35bf w25 hfd\"><div class=\"t m0 x1b8 hfb y297c ff3f fsba fc4 sc0 ls20a ws1\">Gain from cha<span class=\"_ _1\"></span>nge in financi<span class=\"_ _1\"></span>al assumptions<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35bf w24 hfd\"><div class=\"t m0 x1aa hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y35bf w24 hfd\"><div class=\"t m0 x1a4 hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35c0 w25 hfe\"><div class=\"t m0 x1b8 hfb y2967 ff3f fsba fc4 sc0 ls20a ws1\">Gain on scheme <span class=\"_ _1\"></span>liabilitie<span class=\"_ _1\"></span>s arising fr<span class=\"_ _1\"></span>om experience<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c0 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35c0 w24 hfe\"><div class=\"t m0 x13a hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td></tr><tr><td class=\"c x1f9 y35c1 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">Benefits paid<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c1 w24 hfd\"><div class=\"t m0 x1aa hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y35c1 w24 hfd\"><div class=\"t m0 x1aa hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td></tr><tr><td class=\"c x1f9 y35c2 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1e1 ws1\">At 31 March<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c2 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1da ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35c2 w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(74)<span class=\"ls1\"> </span></div></td></tr></table>Movements <span class=\"_ _1\"></span>in the f<span class=\"_ _1\"></span>air valu<span class=\"_ _1\"></span>e of the<span class=\"_ _1\"></span> scheme ass<span class=\"_ _1\"></span>ets were <span class=\"_ _1\"></span>as follo<span class=\"_ _1\"></span>ws:<span class=\"ls1\"> </span><table class=\"s wf3 h165\" id=\"_d0de5f5d-89b2-4f81-983f-f07de18ffa5c\"><tr><td></td><td class=\"c x200 y35c3 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35c3 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y35c4 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35c4 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y35c5 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1e1 ws1\">At<span class=\"ls1\"> <span class=\"ls1dc\">1 April</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c5 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff42 fsba fc11 sc0 ls1eb ws1\">93<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35c5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">108<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35c6 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Interest income<span class=\"_ _0\"></span> on scheme asse<span class=\"_ _0\"></span>ts<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c6 w24 hfd\"><div class=\"t m0 x1aa hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fd y35c6 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y35c7 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d9 ws1\">Contributions b<span class=\"_ _1\"></span>y employer<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c7 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35c7 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y35c8 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1e1 ws1\">Actuarial<span class=\"ls1\"> <span class=\"ls1e5\">loss</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c8 w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y35c8 w24 hfd\"><div class=\"t m0 x192 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(16)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35c9 w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">Benefits paid<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35c9 w24 hfe\"><div class=\"t m0 x1ad hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35c9 w24 hfe\"><div class=\"t m0 x1ad hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35ca w25 hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1e1 ws1\">At 31 March<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35ca w24 hfe\"><div class=\"t m0 x192 hfb y2914 ff42 fsba fc11 sc0 ls1eb ws1\">94<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35ca w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td></tr></table>Through its defi<span class=\"_ _1\"></span>ned benefit plans, t<span class=\"_ _1\"></span>he Group is exposed to a<span class=\"_ _1\"></span> number of risks, t<span class=\"_ _1\"></span>he most significant <span class=\"_ _1\"></span>of which are detailed<span class=\"ls1\"> </span>below:<span class=\"ls1\"> </span>Asset volati<span class=\"_ _0\"></span>lity<span class=\"ls1\"> </span>The liabili<span class=\"_ _1\"></span>ties are calculat<span class=\"_ _1\"></span>ed using a discount r<span class=\"_ _1\"></span>ate set with refer<span class=\"_ _1\"></span>ence to corporate bond yi<span class=\"_ _1\"></span>elds; if asset<span class=\"_ _1\"></span>s und<span class=\"ls223\">erperform </span>this yield, this will create a deficit. The schem<span class=\"_ _0\"></span>e holds a significant portion of grow<span class=\"_ _0\"></span>th assets (equities and diversified growth funds) which<span class=\"_ _1\"></span>, although expected t<span class=\"_ _1\"></span>o outperform corporate bonds <span class=\"_ _1\"></span>in the long term,<span class=\"_ _1\"></span> create volatil<span class=\"_ _1\"></span>ity and risk in<span class=\"ls1\"> <span class=\"ls222\">the</span> <span class=\"ls224\">sho<span class=\"ls222\">rt term. Th<span class=\"_ _0\"></span>e allocation to growth assets is m<span class=\"_ _0\"></span>onitored to ensure it remains ap<span class=\"_ _0\"></span>propriate given the schem<span class=\"_ _0\"></span>e\u2019s </span></span></span>long<span class=\"ls1\"> <span class=\"ls222\">term ob<span class=\"_ _0\"></span>jectives.</span> </span>Changes in bond <span class=\"_ _0\"></span>yields<span class=\"ls1\"> </span>A decrease <span class=\"_ _1\"></span>in corpora<span class=\"_ _1\"></span>te bond yiel<span class=\"_ _1\"></span>ds will i<span class=\"_ _1\"></span>ncrease th<span class=\"_ _1\"></span>e value pla<span class=\"_ _1\"></span>ced on the s<span class=\"_ _1\"></span>cheme\u2019s lia<span class=\"_ _1\"></span>bilities <span class=\"_ _1\"></span>for account<span class=\"_ _1\"></span>ing purposes<span class=\"_ _1\"></span>, although this will be <span class=\"_ _1\"></span>partially offset by an incr<span class=\"_ _1\"></span>ease in the value of the schem<span class=\"ls223\">e\u2019s di<span class=\"_ _1\"></span>versified credit fund holdi<span class=\"_ _1\"></span>ngs.<span class=\"ls1\"> </span></span>Inflation risk<span class=\"ls1\"> </span>The majority of <span class=\"_ _1\"></span>the scheme\u2019s benefit obl<span class=\"_ _1\"></span>igations are li<span class=\"_ _1\"></span>nked to inflation,<span class=\"_ _1\"></span> and higher inflat<span class=\"_ _1\"></span>ion will lead t<span class=\"_ _1\"></span>o higher liabili<span class=\"_ _1\"></span>tie<span class=\"ls224\">s </span>(although, in most cases, caps on the<span class=\"_ _0\"></span> level of inflationary increases are in place to protect against extre<span class=\"_ _0\"></span>me inflation). The<span class=\"ls1\"> <span class=\"ls233\">maj</span></span>ority of <span class=\"_ _1\"></span>the assets are ei<span class=\"_ _1\"></span>ther unaffected by or <span class=\"_ _1\"></span>only loosely correl<span class=\"_ _1\"></span>ated with inflati<span class=\"_ _1\"></span>on, meaning that an i<span class=\"_ _1\"></span>ncrease in<span class=\"ls1\"> </span>inflation w<span class=\"_ _0\"></span>ill also decre<span class=\"_ _0\"></span>ase the surp<span class=\"_ _0\"></span>lus.<span class=\"ls1\"> </span>Life expectancy<span class=\"ls1\"> </span>The majority of <span class=\"_ _1\"></span>the scheme\u2019s obligations<span class=\"_ _1\"></span> are to provide benef<span class=\"_ _1\"></span>its for the li<span class=\"_ _1\"></span>fe of t<span class=\"ls221\">he member, so increases <span class=\"_ _1\"></span>in life </span>expectancy will result <span class=\"_ _1\"></span>in <span class=\"ls225\">an increase in the liabi<span class=\"_ _1\"></span>lities.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-436": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls283 ws1 gs309\">11<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls21d\">Joint ventures </span></span><span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs30a\">Summary movement for the year of t<span class=\"_ _0\"></span>he investments in joint <span class=\"_ _0\"></span>ventures <span class=\"ls1\"> </span></div><div class=\"gs30b\"><table class=\"s w156 h16f\" id=\"_a6db86c7-9c44-4c8d-a25c-3e5369826fe7\"><tr><td></td><td class=\"c x29d y3652 w157 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x2e9 y3652 w158 h14c\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">Loans</div><div class=\"t m0 x2e8 hfc y3653 ff41 fsbb fc4 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y3652 w8a h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f6 y3654 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y3654 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3654 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3655 w3d hfd\"><div class=\"t m0 x0 hfb y2be8 ff42 fsba fc4 sc0 ls1e1 ws1\">At 1 April<span class=\"_ _1\"></span> 202<span class=\"ls1\">5</span><span class=\"ls1\"> </span><span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3655 w24 hfd\"><div class=\"t m0 x1b0 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">1,334<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3655 w24 hfd\"><div class=\"t m0 x196 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">1,128<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3655 w24 hfd\"><div class=\"t m0 x1a5 hfb y2be8 ff42 fsba fc11 sc0 ls1d7 ws1\">2,462<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3656 w3d hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1e1 ws1\">Additions<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3656 w24 hfe\"><div class=\"t m0 x1a2 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3656 w24 hfe\"><div class=\"t m0 x19a hfb y28fc ff3f fsba fc4 sc0 ls1ea ws1\">220<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3656 w24 hfe\"><div class=\"t m0 x19a hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">278<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3657 w3d hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls20a ws1\">Disposals<span class=\"ls1\"> <span class=\"ls1e6\">and repayments</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3657 w24 hfd\"><div class=\"t m0 x192 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3657 w24 hfd\"><div class=\"t m0 x1c1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1ea\">238</span>) </div></td><td class=\"c x1fd y3657 w24 hfd\"><div class=\"t m0 x19b hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1d7\">251</span>) </div></td></tr><tr><td class=\"c x1f9 y3658 w3d hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1ed ws1\">Share of <span class=\"ls1eb\">profit<span class=\"ls1\"> <span class=\"ls1e6\">after t<span class=\"_ _1\"></span>axation<span class=\"_ _216\"> </span></span></span></span></div><div class=\"t m0 x11c hff y2db7 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x121 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1e6 y3658 w24 hfe\"><div class=\"t m0 x19e hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">187<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3658 w24 hfe\"><div class=\"t m0 x1be hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x1fd y3658 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">188<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3659 w3d hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls20a ws1\">Distributi<span class=\"_ _1\"></span>ons and dividends<span class=\"_ _1\"></span>:<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y365a w3d hfe\"><div class=\"t m0 x1b8 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1d9\">Capital</span> </div></td><td class=\"c x1e6 y365a w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y365a w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y365a w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y365b w3d hfd\"><div class=\"t m0 x1b8 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1d6\">Revenue</span> </div></td><td class=\"c x1e6 y365b w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(58)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y365b w24 hfd\"><div class=\"t m0 x1a4 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y365b w24 hfd\"><div class=\"t m0 x19e hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(6<span class=\"ls1\">1</span><span class=\"ls1\">)</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y365c w3d hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls28c ws1\">Hedging and exc<span class=\"_ _1\"></span>hange movements<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y365c w24 hfe\"><div class=\"t m0 x1a4 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y365c w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y365c w24 hfe\"><div class=\"t m0 x1a4 hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(5)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y365d w3d hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1e1 ws1\">At 31 March <span class=\"_ _1\"></span>202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y365d w24 hfe\"><div class=\"t m0 x1b0 hfb y2914 ff3f fsba fc4 sc0 ls1dc ws1\">1,503<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y365d w24 hfe\"><div class=\"t m0 x1c1 hfb y2914 ff3f fsba fc4 sc0 ls1dc ws1\">1,108<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y365d w24 hfe\"><div class=\"t m0 x1a6 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">2,611<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs30c\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls200\">Loan additions of \u00a3220m in the current<span class=\"_ _1\"></span> year represent additional shareholder l<span class=\"_ _1\"></span>oans to the following joint ventures:<span class=\"_ _1\"></span> \u00a3178m Bro<span class=\"ls1f4\">adgate,<span class=\"_ _216\"> </span></span></span></span><span class=\"ls1\"><span class=\"ls200\"><span class=\"ls1f4\"> </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fb ws1 gs30d\">\u00a332m One Triton Square, \u00a37m <span class=\"ls28d\">West<span class=\"_ _1\"></span> One <span class=\"ls1f4\">and \u00a3<span class=\"ls1\">3<span class=\"ls1f5\">m Other <span class=\"_ _1\"></span>joint ventur<span class=\"_ _1\"></span>es<span class=\"ls1\">. <span class=\"ls200\">Loan disposals of \u00a3238m <span class=\"ls1f9\">in the current year <span class=\"ls1f3\">represent<span class=\"_ _216\"> </span></span></span></span></span></span></span></span></span><span class=\"ls28d\"><span class=\"ls1f4\"><span class=\"ls1\"><span class=\"ls1f5\"><span class=\"ls1\"><span class=\"ls200\"><span class=\"ls1f9\"><span class=\"ls1f3\"> </span></span></span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls202 ws1 gs30e\">shareholder loan repayments from the following joint ventures:<span class=\"ls1\"> <span class=\"ls1fb\">\u00a3205m Broadgate, \u00a315m <span class=\"ls28d\">West On<span class=\"_ _1\"></span>e<span class=\"ls1f7\">, \u00a315m Other jo<span class=\"_ _0\"></span>int ventures and<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"><span class=\"ls1fb\"><span class=\"ls28d\"><span class=\"ls1f7\"> </span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fb ws1 gs30f\">\u00a33m BL West End.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fe ws1 gs310\">2. The share of profit after <span class=\"_ _1\"></span>taxation includes equity accounted profits of \u00a3196m (2024/25: \u00a372m prof<span class=\"_ _1\"></span>its) and a debit relating to the<span class=\"_ _216\"> </span> </div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f5 ws1 gs311\">movement of <span class=\"_ _1\"></span>provision fo<span class=\"_ _1\"></span>r impairment <span class=\"_ _1\"></span>of equity in<span class=\"_ _1\"></span>vestments and <span class=\"_ _1\"></span>loans of \u00a38m <span class=\"_ _1\"></span>(2024/25: \u00a31<span class=\"_ _1\"></span>8m credit exc<span class=\"_ _1\"></span>luding the Me<span class=\"_ _1\"></span>adowhall<span class=\"_ _216\"> </span> </div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f0 ws1 gs312\">Shopping Centre joint venture dis<span class=\"_ _1\"></span>posal). The Group\u2019s net closing invest<span class=\"_ _1\"></span>ments in and <span class=\"ls1f9\">loans to joint ventu<span class=\"_ _0\"></span>res, the associated clos<span class=\"_ _0\"></span>ing<span class=\"_ _216\"> </span></span><span class=\"ls1f9\"> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs313\">provision for impairment and <span class=\"_ _1\"></span>movement in provision for impairment i<span class=\"_ _1\"></span>n the year are included in Note <span class=\"_ _1\"></span>22.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff3c fsb8 fc4 sc0 ls230 ws1 gs314\">Meadowhall<span class=\"_ _1\"></span> Shopping C<span class=\"_ _1\"></span>entre joi<span class=\"_ _1\"></span>nt venture<span class=\"_ _1\"></span> disposal<span class=\"_ _216\"> </span><span class=\"_ _1\"></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs315\">In the prior ye<span class=\"_ _0\"></span>ar, o<span class=\"ls221\">n 12 July 2024, the Gr<span class=\"_ _1\"></span>oup <span class=\"ls226\">completed the disposal of its 50% shareholding i<span class=\"_ _1\"></span>n the Meadowhall<span class=\"_ _216\"> </span></span></span><span class=\"ls221\"><span class=\"ls226\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20c ws1 gs316\">Shopping Centre joi<span class=\"_ _1\"></span>nt venture to the j<span class=\"_ _1\"></span>oint venture partner,<span class=\"_ _1\"></span> Norges Bank Investment Management, <span class=\"_ _1\"></span>for a total<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs317\">consideration of \u00a3158m. The carrying amount of t<span class=\"_ _1\"></span>he investment in the joint venture o<span class=\"_ _1\"></span><span class=\"ls221\">n the disposal date was \u00a3156m,<span class=\"_ _216\"> </span></span><span class=\"ls221\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs318\">resulting in a loss on disposal after tran<span class=\"_ _0\"></span>saction costs of \u00a31m which<span class=\"_ _0\"></span> has been accounted fo<span class=\"_ _0\"></span>r within the Loss on disposal<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs319\">of<span class=\"ls1\"> <span class=\"ls1fc\">investmen<span class=\"_ _0\"></span>t properties<span class=\"_ _0\"></span>, joint venture<span class=\"_ _0\"></span>s and revalu<span class=\"_ _0\"></span>ation of inves<span class=\"_ _0\"></span>tments line w<span class=\"_ _0\"></span>ithin the Cap<span class=\"_ _0\"></span>ital and othe<span class=\"_ _0\"></span>r</span> <span class=\"ls226\">column of the<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls226\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs31a\">consolidated income statement.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff3c fsb8 fc4 sc0 ls24b ws1 gs31b\">2 Finsbury Avenue joint <span class=\"_ _1\"></span>venture transaction<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs31c\">In the prior ye<span class=\"_ _0\"></span>ar, o<span class=\"ls221\">n 24 January 2025, Broadgate REIT <span class=\"_ _1\"></span>L<span class=\"ls1fc\">imited<span class=\"ls1\"> <span class=\"_ _0\"></span><span class=\"ls243\">(\u2018Broadgate\u2019) entered into a new 50:50<span class=\"_ _0\"></span> joint venture<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls221\"><span class=\"ls1fc\"><span class=\"ls1\"><span class=\"ls243\"> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs31d\">arrangement with Modon Holding PSC in relati<span class=\"_ _1\"></span>on to a<span class=\"ls1\"> <span class=\"ls236\">wholly</span>-<span class=\"ls220\">owned development proper<span class=\"_ _1\"></span>ty, 2 Finsbury Avenue.<span class=\"_ _1\"></span> All of<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls220\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs31e\">the following figures are at 100<span class=\"_ _0\"></span>% from the perspective of th<span class=\"_ _0\"></span>e new 2 Finsbury Aven<span class=\"_ _0\"></span>ue joint venture. The transaction<span class=\"_ _0\"></span> value<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs31f\">of the development pr<span class=\"_ _1\"></span>operty transferred by <span class=\"_ _1\"></span>Broadgate on the formation <span class=\"_ _1\"></span>of <span class=\"ls222\">the new joint venture<span class=\"_ _0\"></span> was \u00a3401m. This<span class=\"_ _216\"> </span></span><span class=\"ls222\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs320\">created a total gain on disposal<span class=\"_ _1\"></span> of \u00a334m of which \u00a317m related to Modon Holding<span class=\"ls1\"> <span class=\"ls234\">PSC<span class=\"ls235\">\u2019s interest in the<span class=\"_ _0\"></span> joint venture<span class=\"_ _0\"></span> and<span class=\"_ _216\"> </span></span></span></span><span class=\"ls1\"><span class=\"ls234\"><span class=\"ls235\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs321\">was real<span class=\"_ _1\"></span>ised on t<span class=\"_ _1\"></span>he transac<span class=\"_ _1\"></span>tion date.<span class=\"_ _1\"></span> Broadgate<span class=\"_ _1\"></span> recognised<span class=\"_ _1\"></span> a gain <span class=\"_ _1\"></span>on disposal<span class=\"_ _1\"></span> of \u00a310m <span class=\"_ _1\"></span>net of t<span class=\"_ _1\"></span>rans<span class=\"ls225\">action costs <span class=\"_ _1\"></span>of \u00a37m<span class=\"_ _216\"> </span></span><span class=\"ls225\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs322\">(<span class=\"ls232\">British Land <span class=\"_ _1\"></span><span class=\"ls20d\">Group share o<span class=\"_ _1\"></span>f gain on d<span class=\"_ _1\"></span>isposal: \u00a35m)<span class=\"_ _1\"></span>.<span class=\"_ _216\"> </span></span></span><span class=\"ls232\"><span class=\"ls20d\"><span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls249 ws1 gs323\">For the year ended <span class=\"_ _1\"></span>31 March 2025, Broadgate <span class=\"_ _1\"></span>recognised a total <span class=\"_ _1\"></span>share of the join<span class=\"_ _1\"></span>t venture profit <span class=\"_ _1\"></span>of \u00a322m (<span class=\"ls232\">British La<span class=\"_ _1\"></span>nd<span class=\"_ _216\"> </span></span><span class=\"ls232\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs324\">Group share<span class=\"_ _1\"></span>: \u00a311m). T<span class=\"_ _1\"></span>his included<span class=\"_ _1\"></span> the remaini<span class=\"_ _1\"></span>ng \u00a317m gain <span class=\"_ _1\"></span>on dis<span class=\"ls234\">posal of <span class=\"_ _1\"></span>property into the <span class=\"_ _1\"></span>new joint venture whi<span class=\"_ _1\"></span>ch was<span class=\"_ _216\"> </span></span><span class=\"ls234\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs325\">unrealised at the t<span class=\"_ _1\"></span>ransaction<span class=\"ls1\"> <span class=\"ls234\">date<span class=\"ls235\">. Between 2<span class=\"_ _0\"></span>4 January <span class=\"_ _0\"></span>2025 and 3<span class=\"_ _0\"></span>1 March 20<span class=\"_ _0\"></span>25, Broadg<span class=\"_ _0\"></span>ate provide<span class=\"_ _0\"></span>d further loa<span class=\"_ _0\"></span>n<span class=\"_ _216\"> </span></span></span></span><span class=\"ls1\"><span class=\"ls234\"><span class=\"ls235\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs326\">funding of \u00a326m<span class=\"_ _0\"></span> into the joint venture and<span class=\"_ _0\"></span> recognised an inve<span class=\"_ _0\"></span>stment <span class=\"ls1fc\">in joint ven<span class=\"_ _0\"></span>tures <span class=\"ls220\">of \u00a3<span class=\"ls268\">232m <span class=\"ls225\">as at 31 March 2025<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1fc\"><span class=\"ls220\"><span class=\"ls268\"><span class=\"ls225\"> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs327\">(<span class=\"ls232\">British Land <span class=\"_ _1\"></span><span class=\"ls20d\">Group share: <span class=\"_ _1\"></span>\u00a3116m). Bro<span class=\"_ _1\"></span>adgate receiv<span class=\"_ _1\"></span>ed \u00a3190m of c<span class=\"_ _1\"></span>ash considerat<span class=\"_ _1\"></span>ion in re<span class=\"_ _1\"></span>lation to <span class=\"_ _1\"></span>the sale of<span class=\"_ _1\"></span> the<span class=\"_ _216\"> </span></span></span><span class=\"ls232\"><span class=\"ls20d\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs328\">property to the <span class=\"_ _1\"></span>joint venture (net<span class=\"_ _1\"></span> of transaction c<span class=\"_ _1\"></span>osts of \u00a37m) and used \u00a393m <span class=\"_ _1\"></span>of this to repay <span class=\"_ _1\"></span><span class=\"ls226\">capital to the<span class=\"ls1\"> <span class=\"ls232\">British<span class=\"_ _216\"> </span></span></span></span><span class=\"ls226\"><span class=\"ls1\"><span class=\"ls232\"><span class=\"_ _1\"></span> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24b ws1 gs329\">Land<span class=\"ls1\"> <span class=\"ls20d\">Group.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs32b\">The summarised<span class=\"ls1\"> <span class=\"ls1fc\">income state<span class=\"_ _0\"></span>ments and<span class=\"_ _0\"></span> balance she<span class=\"_ _0\"></span>ets below a<span class=\"_ _0\"></span>nd on the follo<span class=\"_ _0\"></span>wing page<span class=\"_ _0\"></span> show 100%<span class=\"_ _0\"></span> of the result<span class=\"_ _0\"></span>s, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs32c\">assets and liabilit<span class=\"_ _1\"></span>ies of joint ventures<span class=\"ls1\"> <span class=\"ls222\">to the nearest million.</span> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls242 ws1 gs32d\">Joint ventures\u2019 summary financial statements <span class=\"ls23f\">as at<span class=\"ls1\"> <span class=\"ls282\">31 <span class=\"_ _0\"></span>March 202</span>6 </span></span></div><div class=\"gs32e\"><table class=\"s w159 h170\" id=\"_a9050941-5d1d-42e3-82f0-5600fc7c0bf7\"><tr><td class=\"c x1f9 y365e w4d hfa\"><div class=\"t m0 x0 h103 y2960 ff46 fsbd fc4 sc0 ls1f0 ws1\">See page <span class=\"ls1fd\">158 <span class=\"ls1f8\">for additional information on each joint ve<span class=\"_ _0\"></span>nture</span></span><span class=\"ls1fd\"><span class=\"ls1f8\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2ea y365e w41 hfa\"><div class=\"t m0 xe7 hf9 y2ddc ff3d fsb9 fc4 sc0 ls1 ws1\"> </div><div class=\"t m0 xe7 hf9 y2cbf ff3d fsb9 fc4 sc0 ls1 ws1\"> </div><div class=\"t m0 x1b0 hf9 y28e1 ff3d fsb9 fc4 sc0 ls216 ws1\">Broadgate<span class=\"ls1\"> </span></div></td><td class=\"c x201 y365e w4e hfa\"><div class=\"t m0 x1a6 hf9 y2950 ff3d fsb9 fc4 sc0 ls28e ws1\">West One<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y365e w41 hfa\"><div class=\"t m0 x1b5 hf9 y28e1 ff3d fsb9 fc4 sc0 ls216 ws1\">BL West End<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y365f w4d hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls20a ws1\">Group share<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y365f w41 hfe\"><div class=\"t m0 x1be hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x201 y365f w4e hfe\"><div class=\"t m0 x13a hfb y28fc ff3f fsba fc4 sc0 ls1ea ws1\">25%<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y365f w41 hfe\"><div class=\"t m0 x13a hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3660 w4d hfe\"><div class=\"t m0 x0 hfb y28f5 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised income statements<span class=\"ls1\"> <span class=\"ls206\">for the year ended 31 March 202<span class=\"_ _0\"></span>6</span></span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3661 w4d hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1d6 ws1\">Revenue<span class=\"_ _216\"> </span></div><div class=\"t m0 x19e hff y2de1 ff44 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x1a2 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y3661 w41 hfe\"><div class=\"t m0 x112 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">2<span class=\"ls208\">75</span> </div></td><td class=\"c x201 y3661 w4e hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x2eb y3661 w41 hfe\"><div class=\"t m0 x166 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">27 </div></td></tr><tr><td class=\"c x1f9 y3662 w4d hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1d9 ws1\">Costs<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3662 w41 hfd\"><div class=\"t m0 x112 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">93</span>) </div></td><td class=\"c x201 y3662 w4e hfd\"><div class=\"t m0 x14 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">(2) </div></td><td class=\"c x2eb y3662 w41 hfd\"><div class=\"t m0 x166 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">(9) </div></td></tr><tr><td></td><td class=\"c x2ea y3663 w41 hfe\"><div class=\"t m0 xd0 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">182<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3663 w4e hfe\"><div class=\"t m0 x12e hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x2eb y3663 w41 hfe\"><div class=\"t m0 x125 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">18 </div></td></tr><tr><td class=\"c x1f9 y3664 w4d hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1e1 ws1\">Administrati<span class=\"_ _1\"></span>ve expenses<span class=\"fc13 ls1\"> </span></div></td><td class=\"c x2ea y3664 w41 hfd\"><div class=\"t m0 x14 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3664 w4e hfd\"><div class=\"t m0 x12e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3664 w41 hfd\"><div class=\"t m0 x12e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3665 w4d hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1e1 ws1\">Net <span class=\"ls1e5\">interest payable</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y3665 w41 hfe\"><div class=\"t m0 x1c4 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(77)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3665 w4e hfe\"><div class=\"t m0 x12e hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3665 w41 hfe\"><div class=\"t m0 x166 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3666 w4d hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying Pr<span class=\"_ _1\"></span>ofit <span class=\"ls1\">(L<span class=\"ls1e0\">oss</span><span class=\"ls1e0\">)</span> </span></div></td><td class=\"c x2ea y3666 w41 hfd\"><div class=\"t m0 x112 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">103<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3666 w4e hfd\"><div class=\"t m0 x12e hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x2eb y3666 w41 hfd\"><div class=\"t m0 x14 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">12 </div></td></tr><tr><td class=\"c x1f9 y3667 w4d hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">S<span class=\"ls1dd\">hare</span> <span class=\"ls1e0\">of joint venture</span> <span class=\"ls1ee\">result</span> </div></td><td class=\"c x2ea y3667 w41 hfe\"><div class=\"t m0 x166 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">24 </div></td><td class=\"c x201 y3667 w4e hfe\"><div class=\"t m0 x12e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3667 w41 hfe\"><div class=\"t m0 x12e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3668 w4d hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e1 ws1\">Net movement<span class=\"ls1e3\">s on property<span class=\"_ _216\"> </span></span></div><div class=\"t m0 xa5 hff y2d9a ff44 fsbc fc4 sc0 ls1 ws1\">4</div><div class=\"t m0 x121 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y3668 w41 hfd\"><div class=\"t m0 x112 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">184<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3668 w4e hfd\"><div class=\"t m0 x14 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3668 w41 hfd\"><div class=\"t m0 x7c hfb y292f ff3f fsba fc4 sc0 ls1d8 ws1\">45<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3669 w4d hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing <span class=\"ls1e5\">income (<span class=\"ls1e6\">charges<span class=\"ls1\">)  </span></span></span></div></td><td class=\"c x2ea y3669 w41 hfe\"><div class=\"t m0 x85 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3669 w4e hfe\"><div class=\"t m0 x12e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3669 w41 hfe\"><div class=\"t m0 x12e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y366a w4d hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">Loss<span class=\"ls1\"> <span class=\"ls1e0\">on disposal of <span class=\"ls1eb\">propert<span class=\"_ _1\"></span>ies</span></span></span><span class=\"ls1\"><span class=\"ls1e0\"><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></span></span></div></td><td class=\"c x2ea y366a w41 hfd\"><div class=\"t m0 x14 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y366a w4e hfd\"><div class=\"t m0 x12e hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y366a w41 hfd\"><div class=\"t m0 x12e hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y366b w4d hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1e8\">rofit</span> <span class=\"ls1da\">(loss)</span> <span class=\"ls1d8\">before taxation</span> </div></td><td class=\"c x2ea y366b w41 hfd\"><div class=\"t m0 x6d hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">3<span class=\"ls1d7\">20</span> </div></td><td class=\"c x201 y366b w4e hfd\"><div class=\"t m0 x85 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y366b w41 hfd\"><div class=\"t m0 x7c hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">57 </div></td></tr><tr><td class=\"c x1f9 y366c w4d hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">Taxation<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y366c w41 hfe\"><div class=\"t m0 x12e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y366c w4e hfe\"><div class=\"t m0 x12e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y366c w41 hfe\"><div class=\"t m0 x109 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y366d w4d hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1e8\">rofit</span> <span class=\"ls1da\">(loss)</span> <span class=\"ls208\">after taxation</span> </div></td><td class=\"c x2ea y366d w41 hfe\"><div class=\"t m0 x6d hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">3<span class=\"ls1d7\">20</span> </div></td><td class=\"c x201 y366d w4e hfe\"><div class=\"t m0 x85 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y366d w41 hfe\"><div class=\"t m0 x7c hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">56 </div></td></tr><tr><td class=\"c x1f9 y366e w4d hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls204 ws1\">Other compr<span class=\"_ _1\"></span>ehensive <span class=\"ls208\">expense</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y366e w41 hfd\"><div class=\"t m0 xd0 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dc\">10</span>) </div></td><td class=\"c x201 y366e w4e hfd\"><div class=\"t m0 x12e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y366e w41 hfd\"><div class=\"t m0 x125 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y366f w4d hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1e0 ws1\">Total comprehensive income<span class=\"ls1\"> <span class=\"ls1da\">(expense)</span> </span></div></td><td class=\"c x2ea y366f w41 hfe\"><div class=\"t m0 x112 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">310 </div></td><td class=\"c x201 y366f w4e hfe\"><div class=\"t m0 x85 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y366f w41 hfe\"><div class=\"t m0 x7c hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">53 </div></td></tr><tr><td class=\"c x1f9 y3670 w4d hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of total comprehe<span class=\"_ _1\"></span>nsive income<span class=\"ls1\"> <span class=\"ls1da\">(expense)</span> </span></div></td><td class=\"c x2ea y3670 w41 hfe\"><div class=\"t m0 x112 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">155<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3670 w4e hfe\"><div class=\"t m0 x162 hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2eb y3670 w41 hfe\"><div class=\"t m0 x166 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3671 w4d hfd\"><div class=\"t m0 x0 hfb y292f ff42 fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"ls289\">share of <span class=\"_ _1\"></span>distributions payable</span><span class=\"ls289\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y3671 w41 hfd\"><div class=\"t m0 x166 hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3671 w4e hfd\"><div class=\"t m0 x162 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2eb y3671 w41 hfd\"><div class=\"t m0 x85 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y3672 w4d hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised balance sheets<span class=\"ls1\"> <span class=\"ls208\">as at 31 March 2026</span></span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3673 w4d hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1d5 ws1\">Investment<span class=\"ls1e4\">, d<span class=\"_ _0\"></span>evelopment a<span class=\"_ _0\"></span>nd<span class=\"ls1\"> <span class=\"ls1ee\">trading properties</span></span></span><span class=\"ls1e4\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y3673 w41 hfd\"><div class=\"t m0 x1a4 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">4,603<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3673 w4e hfd\"><div class=\"t m0 x112 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">140<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3673 w41 hfd\"><div class=\"t m0 x13a hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">464<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3674 w4d hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1d5 ws1\">Investments in jo<span class=\"_ _0\"></span>int ventures<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3674 w41 hfe\"><div class=\"t m0 x6d hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">374<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3674 w4e hfe\"><div class=\"t m0 x12e hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3674 w41 hfe\"><div class=\"t m0 x12e hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3675 w4d hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls204 ws1\">Other non<span class=\"ls1\">-<span class=\"ls1e6\">current as<span class=\"_ _1\"></span>sets</span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2ea y3675 w41 hfe\"><div class=\"t m0 x85 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x201 y3675 w4e hfe\"><div class=\"t m0 x12e hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3675 w41 hfe\"><div class=\"t m0 x85 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td></tr><tr><td class=\"c x1f9 y3676 w4d hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1d9 ws1\">Current assets<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3676 w41 hfd\"><div class=\"t m0 x166 hfb y28dd ff3f fsba fc4 sc0 ls1ea ws1\">23<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3676 w4e hfd\"><div class=\"t m0 xd5 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x2eb y3676 w41 hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y3677 w4d hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3677 w41 hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">131<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3677 w4e hfe\"><div class=\"t m0 x14 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3677 w41 hfe\"><div class=\"t m0 x85 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3678 w4d hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls20a ws1\">Gross assets<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3678 w41 hfe\"><div class=\"t m0 x1aa hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">5,1<span class=\"ls1dd\">37</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x201 y3678 w4e hfe\"><div class=\"t m0 x112 hfb y28fc ff42 fsba fc11 sc0 ls1df ws1\">160<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3678 w41 hfe\"><div class=\"t m0 x13a hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">48<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3679 w4d hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1d9 ws1\">Current liabi<span class=\"_ _1\"></span>lities<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3679 w41 hfe\"><div class=\"t m0 x13a hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dc\">139</span>) </div></td><td class=\"c x201 y3679 w4e hfe\"><div class=\"t m0 xd0 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(10)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3679 w41 hfe\"><div class=\"t m0 x166 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dc\">11</span>) </div></td></tr><tr><td class=\"c x1f9 y367a w4d hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">Bank and securit<span class=\"_ _1\"></span>ised debt<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y367a w41 hfd\"><div class=\"t m0 x1ad hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(1,850)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y367a w4e hfd\"><div class=\"t m0 x12e hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y367a w41 hfd\"><div class=\"t m0 x16e hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(160)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y367b w4d hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">Loans from joint venture part<span class=\"_ _1\"></span>ners<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y367b w41 hfe\"><div class=\"t m0 x1bc hfb y28f5 ff3f fsba fc4 sc0 ls1db ws1\">(1,619)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y367b w4e hfe\"><div class=\"t m0 x1c4 hfb y28f5 ff3f fsba fc4 sc0 ls1db ws1\">(27)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367b w41 hfe\"><div class=\"t m0 x12e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y367c w4d hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls204 ws1\">Other non<span class=\"ls1\">-<span class=\"ls1e6\">current l<span class=\"_ _1\"></span>iabilities</span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2ea y367c w41 hfd\"><div class=\"t m0 x12e hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y367c w4e hfd\"><div class=\"t m0 x125 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367c w41 hfd\"><div class=\"t m0 xd0 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y367d w4d hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls207\">liabilities</span><span class=\"ls207\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y367d w41 hfe\"><div class=\"t m0 x19e hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(3,6<span class=\"ls1d9\">08</span><span class=\"ls1d9\"><span class=\"ls1\">) </span></span></div></td><td class=\"c x201 y367d w4e hfe\"><div class=\"t m0 x1c4 hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367d w41 hfe\"><div class=\"t m0 x16e hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(18<span class=\"ls1\">4</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y367e w4d hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1e1 ws1\">Net assets <span class=\"_ _1\"></span>(liabiliti<span class=\"_ _1\"></span>es)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y367e w41 hfe\"><div class=\"t m0 x1bc hfb y2914 ff42 fsba fc11 sc0 ls1df ws1\">1,529<span class=\"ls1\"> </span></div></td><td class=\"c x201 y367e w4e hfe\"><div class=\"t m0 xd0 hfb y2914 ff42 fsba fc11 sc0 ls1df ws1\">119<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367e w41 hfe\"><div class=\"t m0 x13a hfb y2914 ff42 fsba fc11 sc0 ls1dd ws1\">305<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y367f w4d hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of net assets <span class=\"_ _1\"></span>less shareholder loa<span class=\"_ _1\"></span>ns<span class=\"_ _216\"> </span></div><div class=\"t m0 x77 hff y2982 ff43 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x78 hfb y292b ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y367f w41 hfd\"><div class=\"t m0 x6d hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">765<span class=\"ls1\"> </span></div></td><td class=\"c x201 y367f w4e hfd\"><div class=\"t m0 x7c hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367f w41 hfd\"><div class=\"t m0 x7c hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">76<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs32f\">1. <span class=\"_ _24\"> </span><span class=\"ls1f1\">In accordance<span class=\"_ _0\"></span> with the Group\u2019s acco<span class=\"_ _0\"></span>unting policies detailed<span class=\"_ _0\"></span> in Note 1, the Group re<span class=\"_ _0\"></span>cognises a nil equity in<span class=\"_ _0\"></span>vestment in joint <span class=\"ls1fa\">ventures </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f9 ws1 gs330\">in<span class=\"ls1\"> <span class=\"ls1f4\">a net liability position at year end.</span> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs331\">2. <span class=\"ls1f1\">Included in the colu<span class=\"_ _0\"></span>mn headed \u2018Other jo<span class=\"_ _0\"></span>int ventures\u2019 are contrib<span class=\"_ _0\"></span>utions from th<span class=\"ls1fe\">e following: BL Goodman Limited Partnership, City of </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls200 ws1 gs332\">London Office Unit Trust<span class=\"ls1\">, <span class=\"ls201\">Reading Gate <span class=\"_ _1\"></span>Retail Park Co<span class=\"ls1\">-<span class=\"ls28f\">Ownership<span class=\"ls1f7\">, Eden Walk Shopping Centre Un<span class=\"_ _0\"></span>it Trust</span></span> <span class=\"ls1f4\">and the <span class=\"ls28d\">Whiteley S<span class=\"_ _1\"></span>hopping </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls290 ws1 gs333\">Centre Unit Trust<span class=\"ls1\">. <span class=\"ls28f\">On <span class=\"_ _1\"></span><span class=\"ls203\">30 October 2025<span class=\"ls1\">, <span class=\"ls1f3\">the Group <span class=\"ls1f4\">acquired the remaining 50%</span></span> <span class=\"ls202\">share of Eden Walk Shopping Centre Unit Trust<span class=\"ls1f7\">. <span class=\"ls1ff\">As a </span></span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f3 ws1 gs334\">result of this acquisition, <span class=\"ls1f2\">Eden Walk<span class=\"ls1\"> <span class=\"ls1f0\">Shopping Centre Unit Trust, previously <span class=\"_ _1\"></span>accounted for as a joint<span class=\"ls1\"> <span class=\"ls1fa\">venture,</span> <span class=\"ls1f2\">became a wholly</span>-<span class=\"ls1fb\">owned </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls202 ws1 gs335\">subsidiary of the Group and has been fully consolidated from this date<span class=\"ls1f7\">. <span class=\"ls1\"> </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs336\">3. <span class=\"ls201\">Revenue incl<span class=\"_ _1\"></span>udes gross rental income at<span class=\"_ _1\"></span> 100% share of <span class=\"ls1fb\">\u00a3335m</span><span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a33<span class=\"ls203\">32<span class=\"ls1f5\">m).</span></span></span> </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs337\">4.<span class=\"ls1\"> <span class=\"_ _6\"></span><span class=\"ls1f1\">In<span class=\"_ _0\"></span>cluded in the total net<span class=\"_ _0\"></span> movements on pro<span class=\"_ _0\"></span>perty of \u00a3209m are va<span class=\"_ _0\"></span>luation movements<span class=\"_ _0\"></span> on investment and de<span class=\"_ _0\"></span>velopment propert<span class=\"_ _0\"></span>ies of </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fb ws1 gs338\">\u00a3234m and impairment of trading <span class=\"ls1f2\">propert<span class=\"_ _1\"></span>ies of \u00a325m. At Group share, the <span class=\"_ _1\"></span>net movements on property of \u00a398m include va<span class=\"_ _1\"></span>luation </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f5 ws1 gs339\">movements on <span class=\"_ _1\"></span>investment an<span class=\"_ _1\"></span>d development <span class=\"_ _1\"></span>properties of<span class=\"_ _1\"></span> \u00a3111m and i<span class=\"_ _1\"></span>mpairment of t<span class=\"_ _1\"></span>rading proper<span class=\"_ _1\"></span>ties of \u00a313<span class=\"_ _1\"></span>m.<span class=\"_ _216\"> </span></div><div class=\"gs33b\"><table class=\"s w15a h171\" id=\"_93d21cbb-d0f4-4175-aa8b-93fc048cd0e1\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x2ec y3680 w8a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x2ed y3681 w15b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">Paddington<span class=\"_ _216\"> </span></div></td><td class=\"c x2ee y3682 w15c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27e ws1\">One<span class=\"ls1\"> <span class=\"ls1d2\">Triton<span class=\"_ _216\"> </span></span></span></div></td><td></td><td class=\"c x20d y3682 w15d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Hercules Unit<span class=\"_ _216\"> </span></div></td><td class=\"c x2ef y3682 w15e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27e ws1\">Other joint<span class=\"_ _216\"> </span></div></td><td class=\"c x2f0 y3682 w8a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x2f1 y3682 w15f h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Group share<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3683 w3b hfa\"><div class=\"t m0 x197 hf9 y28e1 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Canada Water<span class=\"ls1\"> </span></div></td><td class=\"c x2f2 y3685 w160 h172\"><div class=\"t m0 x1e7 hfc y3684 ff41 fsbb fc4 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x2f3 y3686 w161 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Square<span class=\"_ _216\"> </span></div></td><td class=\"c x2f4 y3683 w4f hfa\"><div class=\"t m0 x1a7 hf9 y28e1 ff3d fsb9 fc4 sc0 ls1d2 ws1\">SouthGate <span class=\"ls1\"> </span></div></td><td class=\"c x2f5 y3686 w162 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Trust<span class=\"ls1\"> <span class=\"ls27d\">JV<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x2f7 y3686 w163 h148\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">v<span class=\"ls1cf\">entures</span></div><div class=\"t m0 x2f6 hfc y3465 ff41 fsbb fc4 sc0 ls1 ws1\">2<span class=\"_ _216\"> </span></div></td><td class=\"c x2f0 y3686 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x2ec y3686 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x2f8 y3687 w164 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Central<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3688 w3b hf8\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3688 w4f hf8\"><div class=\"t m0 x1be hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y3688 w4f hf8\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3688 w4f hf8\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3688 w4f hf8\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3689 w3b hfe\"><div class=\"t m0 x109 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x2f9 y3689 w4f hfe\"><div class=\"t m0 xd0 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">65 </div></td><td class=\"c x2fa y3689 w4f hfe\"><div class=\"t m0 x85 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x2f4 y3689 w4f hfe\"><div class=\"t m0 x166 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">17 </div></td><td class=\"c x21d y3689 w4f hfe\"><div class=\"t m0 x166 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">16<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3689 w3b hfe\"><div class=\"t m0 x7c hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">14 </div></td><td class=\"c x220 y3689 w4f hfe\"><div class=\"t m0 x13a hfb y28f3 ff3f fsba fc4 sc0 ls1d8 ws1\">433<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3689 w4f hfe\"><div class=\"t m0 x112 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">192<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368a w3b hfd\"><div class=\"t m0 x7c hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(9) </div></td><td class=\"c x2f9 y368a w4f hfd\"><div class=\"t m0 x6d hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls208\">22</span>) </div></td><td class=\"c x2fa y368a w4f hfd\"><div class=\"t m0 x166 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y368a w4f hfd\"><div class=\"t m0 x7c hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(5) </div></td><td class=\"c x21d y368a w4f hfd\"><div class=\"t m0 x125 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y368a w3b hfd\"><div class=\"t m0 x7c hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(4) </div></td><td class=\"c x220 y368a w4f hfd\"><div class=\"t m0 x16e hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dc\">148</span>) </div></td><td class=\"c x2fc y368a w4f hfd\"><div class=\"t m0 x6d hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">66</span>) </div></td></tr><tr><td class=\"c x1f9 y368b w3b hfd\"><div class=\"t m0 x125 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y368b w4f hfd\"><div class=\"t m0 xd0 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">43 </div></td><td class=\"c x2fa y368b w4f hfd\"><div class=\"t m0 x14 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y368b w4f hfd\"><div class=\"t m0 x166 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">12<span class=\"ls1\"> </span></div></td><td class=\"c x21d y368b w4f hfd\"><div class=\"t m0 x166 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">15<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y368b w3b hfd\"><div class=\"t m0 x7c hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">10 </div></td><td class=\"c x220 y368b w4f hfd\"><div class=\"t m0 x1c5 hfb y28f7 ff3f fsba fc4 sc0 ls1ea ws1\">28<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td class=\"c x2fc y368b w4f hfd\"><div class=\"t m0 x112 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">126<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368c w3b hfe\"><div class=\"t m0 x125 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y368c w4f hfe\"><div class=\"t m0 x14 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y368c w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y368c w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y368c w4f hfe\"><div class=\"t m0 x125 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y368c w3b hfe\"><div class=\"t m0 x109 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y368c w4f hfe\"><div class=\"t m0 x166 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y368c w4f hfe\"><div class=\"t m0 x166 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368d w3b hfd\"><div class=\"t m0 x7c hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y368d w4f hfd\"><div class=\"t m0 x6d hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y368d w4f hfd\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y368d w4f hfd\"><div class=\"t m0 x14 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y368d w4f hfd\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y368d w3b hfd\"><div class=\"t m0 x109 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y368d w4f hfd\"><div class=\"t m0 x112 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(111)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y368d w4f hfd\"><div class=\"t m0 x1c5 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(48)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368e w3b hfe\"><div class=\"t m0 x7c hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y368e w4f hfe\"><div class=\"t m0 x166 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y368e w4f hfe\"><div class=\"t m0 x14 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y368e w4f hfe\"><div class=\"t m0 x14 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x21d y368e w4f hfe\"><div class=\"t m0 x7c hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y368e w3b hfe\"><div class=\"t m0 x7c hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">10 </div></td><td class=\"c x220 y368e w4f hfe\"><div class=\"t m0 x6d hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">1<span class=\"ls1e0\">69</span> </div></td><td class=\"c x2fc y368e w4f hfe\"><div class=\"t m0 xd0 hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">76<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368f w3b hfd\"><div class=\"t m0 x109 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y368f w4f hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y368f w4f hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y368f w4f hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y368f w4f hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y368f w3b hfd\"><div class=\"t m0 x109 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y368f w4f hfd\"><div class=\"t m0 xd0 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">24 </div></td><td class=\"c x2fc y368f w4f hfd\"><div class=\"t m0 x166 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">12 </div></td></tr><tr><td class=\"c x1f9 y3690 w3b hfe\"><div class=\"t m0 x1c5 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3690 w4f hfe\"><div class=\"t m0 x1c4 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y3690 w4f hfe\"><div class=\"t m0 xd0 hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3690 w4f hfe\"><div class=\"t m0 x109 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x21d y3690 w4f hfe\"><div class=\"t m0 x109 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x2fb y3690 w3b hfe\"><div class=\"t m0 x109 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x220 y3690 w4f hfe\"><div class=\"t m0 x1be hfb y28d5 ff3f fsba fc4 sc0 ls1ea ws1\">209<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3690 w4f hfe\"><div class=\"t m0 xd0 hfb y28d5 ff3f fsba fc4 sc0 ls1e0 ws1\">98<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3691 w3b hfd\"><div class=\"t m0 x109 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3691 w4f hfd\"><div class=\"t m0 x7c hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y3691 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3691 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3691 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3691 w3b hfd\"><div class=\"t m0 x109 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3691 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x2fc y3691 w4f hfd\"><div class=\"t m0 x109 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y3692 w3b hfe\"><div class=\"t m0 x7c hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3692 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y3692 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3692 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3692 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3692 w3b hfe\"><div class=\"t m0 x109 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3692 w4f hfe\"><div class=\"t m0 x166 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3692 w4f hfe\"><div class=\"t m0 x166 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">(3) </div></td></tr><tr><td class=\"c x1f9 y3693 w3b hfe\"><div class=\"t m0 x13a hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(66)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3693 w4f hfe\"><div class=\"t m0 x12e hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fa y3693 w4f hfe\"><div class=\"t m0 xd0 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3693 w4f hfe\"><div class=\"t m0 x1c4 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3693 w4f hfe\"><div class=\"t m0 x7c hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3693 w3b hfe\"><div class=\"t m0 x7c hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">18 </div></td><td class=\"c x220 y3693 w4f hfe\"><div class=\"t m0 x1be hfb y28e6 ff42 fsba fc11 sc0 ls1e9 ws1\">40<span class=\"ls1\">3</span><span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3693 w4f hfe\"><div class=\"t m0 x6d hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">188<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3694 w3b hfd\"><div class=\"t m0 x109 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3694 w3b hfd\"><div class=\"t m0 x109 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3694 w4f hfd\"><div class=\"t m0 x14 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">(1) </div></td><td class=\"c x2fc y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3695 w3b hfd\"><div class=\"t m0 x13a hfb y298b ff42 fsba fc11 sc0 ls1da ws1\">(66)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3695 w4f hfd\"><div class=\"t m0 x12e hfb y298b ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fa y3695 w4f hfd\"><div class=\"t m0 xd0 hfb y298b ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3695 w4f hfd\"><div class=\"t m0 x1c4 hfb y298b ff42 fsba fc11 sc0 ls1d7 ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3695 w4f hfd\"><div class=\"t m0 x7c hfb y298b ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3695 w3b hfd\"><div class=\"t m0 x7c hfb y298b ff42 fsba fc11 sc0 ls1 ws1\">18 </div></td><td class=\"c x220 y3695 w4f hfd\"><div class=\"t m0 x1be hfb y298b ff42 fsba fc11 sc0 ls1e9 ws1\">40<span class=\"ls1\">2</span><span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3695 w4f hfd\"><div class=\"t m0 x6d hfb y298b ff42 fsba fc11 sc0 ls1df ws1\">18<span class=\"ls1\">8</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3696 w3b hfe\"><div class=\"t m0 x109 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3696 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y3696 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3696 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3696 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3696 w3b hfe\"><div class=\"t m0 x109 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3696 w4f hfe\"><div class=\"t m0 x1c4 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1<span class=\"ls1\">3</span><span class=\"ls1\">) </span></div></td><td class=\"c x2fc y3696 w4f hfe\"><div class=\"t m0 x166 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3697 w3b hfe\"><div class=\"t m0 x13a hfb y2914 ff42 fsba fc11 sc0 ls1da ws1\">(66)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3697 w4f hfe\"><div class=\"t m0 x12e hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fa y3697 w4f hfe\"><div class=\"t m0 xd0 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3697 w4f hfe\"><div class=\"t m0 x1c4 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3697 w4f hfe\"><div class=\"t m0 x7c hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3697 w3b hfe\"><div class=\"t m0 x7c hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">18 </div></td><td class=\"c x220 y3697 w4f hfe\"><div class=\"t m0 x13a hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">3<span class=\"ls1d7\">89</span> </div></td><td class=\"c x2fc y3697 w4f hfe\"><div class=\"t m0 x6d hfb y2914 ff42 fsba fc11 sc0 ls1df ws1\">18<span class=\"ls1\">3</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3698 w3b hfd\"><div class=\"t m0 x1c5 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(33)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3698 w4f hfd\"><div class=\"t m0 x12e hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fa y3698 w4f hfd\"><div class=\"t m0 x7c hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3698 w4f hfd\"><div class=\"t m0 x7c hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">10 </div></td><td class=\"c x21d y3698 w4f hfd\"><div class=\"t m0 x125 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">11 </div></td><td class=\"c x2fb y3698 w3b hfd\"><div class=\"t m0 xd0 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x220 y3698 w4f hfd\"><div class=\"t m0 x6d hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">18<span class=\"ls1\">3</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y3699 w3b hfe\"><div class=\"t m0 x109 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3699 w4f hfe\"><div class=\"t m0 x109 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x2fa y3699 w4f hfe\"><div class=\"t m0 x85 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3699 w4f hfe\"><div class=\"t m0 x14 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x21d y3699 w4f hfe\"><div class=\"t m0 x109 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x2fb y3699 w3b hfe\"><div class=\"t m0 x14 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x220 y3699 w4f hfe\"><div class=\"t m0 x166 hfb y28d5 ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y369a w3b hfe\"><div class=\"t m0 x1be hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">695<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y369a w4f hfe\"><div class=\"t m0 x13a hfb y28f5 ff3f fsba fc4 sc0 ls1d7 ws1\">853<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y369a w4f hfe\"><div class=\"t m0 x1be hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">509<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y369a w4f hfe\"><div class=\"t m0 x6d hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">183<span class=\"ls1\"> </span></div></td><td class=\"c x21d y369a w4f hfe\"><div class=\"t m0 x13a hfb y28f5 ff3f fsba fc4 sc0 ls1ea ws1\">224<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y369a w3b hfe\"><div class=\"t m0 x6d hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">198<span class=\"ls1\"> </span></div></td><td class=\"c x220 y369a w4f hfe\"><div class=\"t m0 x1ad hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">7,869<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y369a w4f hfe\"><div class=\"t m0 x1ad hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">3,570<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y369b w3b hfd\"><div class=\"t m0 x109 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y369b w4f hfd\"><div class=\"t m0 x85 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y369b w4f hfd\"><div class=\"t m0 x85 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y369b w4f hfd\"><div class=\"t m0 x85 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y369b w4f hfd\"><div class=\"t m0 x85 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y369b w3b hfd\"><div class=\"t m0 x109 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y369b w4f hfd\"><div class=\"t m0 x13a hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">374<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y369b w4f hfd\"><div class=\"t m0 x112 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">187<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3611 w3b hfe\"><div class=\"t m0 x109 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3611 w4f hfe\"><div class=\"t m0 x166 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y3611 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3611 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3611 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3611 w3b hfe\"><div class=\"t m0 x109 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3611 w4f hfe\"><div class=\"t m0 x7c hfb y293b ff3f fsba fc4 sc0 ls1ea ws1\">25<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3611 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y369c w3b hfd\"><div class=\"t m0 x109 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x2f9 y369c w4f hfd\"><div class=\"t m0 x85 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x2fa y369c w4f hfd\"><div class=\"t m0 x109 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2f4 y369c w4f hfd\"><div class=\"t m0 x109 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x21d y369c w4f hfd\"><div class=\"t m0 x85 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fb y369c w3b hfd\"><div class=\"t m0 x85 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x220 y369c w4f hfd\"><div class=\"t m0 xd0 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y369c w4f hfd\"><div class=\"t m0 x125 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">17 </div></td></tr><tr><td class=\"c x1f9 y369d w3b hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x2f9 y369d w4f hfe\"><div class=\"t m0 x7c hfb y2914 ff3f fsba fc4 sc0 ls208 ws1\">27<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y369d w4f hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x2f4 y369d w4f hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x21d y369d w4f hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x2fb y369d w3b hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x220 y369d w4f hfe\"><div class=\"t m0 x112 hfb y2914 ff3f fsba fc4 sc0 ls1ea ws1\">218<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y369d w4f hfe\"><div class=\"t m0 xd0 hfb y2914 ff3f fsba fc4 sc0 ls1e0 ws1\">96<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y369e w3b hfd\"><div class=\"t m0 x16e hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">706<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y369e w4f hfd\"><div class=\"t m0 x13a hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">895<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y369e w4f hfd\"><div class=\"t m0 x6d hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">521<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y369e w4f hfd\"><div class=\"t m0 x13a hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">190<span class=\"ls1\"> </span></div></td><td class=\"c x21d y369e w4f hfd\"><div class=\"t m0 x1c5 hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">231<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y369e w3b hfd\"><div class=\"t m0 x16e hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">202<span class=\"ls1\"> </span></div></td><td class=\"c x220 y369e w4f hfd\"><div class=\"t m0 x8f hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">8,5<span class=\"ls1dd\">31</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2fc y369e w4f hfd\"><div class=\"t m0 x1ad hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">3,877<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y369f w3b hfe\"><div class=\"t m0 x112 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(19)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y369f w4f hfe\"><div class=\"t m0 x6d hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(27)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y369f w4f hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(9)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y369f w4f hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(7)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y369f w4f hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y369f w3b hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x220 y369f w4f hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1ea\">228)</span> </div></td><td class=\"c x2fc y369f w4f hfe\"><div class=\"t m0 x13a hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">1</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y36a0 w3b hfd\"><div class=\"t m0 x1 hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(107)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y36a0 w4f hfd\"><div class=\"t m0 x1be hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(513)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y36a0 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y36a0 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y36a0 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y36a0 w3b hfd\"><div class=\"t m0 x109 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y36a0 w4f hfd\"><div class=\"t m0 x19e hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(2,630)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y36a0 w4f hfd\"><div class=\"t m0 x1a4 hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(1,146)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36a1 w3b hfd\"><div class=\"t m0 x109 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y36a1 w4f hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(445)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y36a1 w4f hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(336)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y36a1 w4f hfd\"><div class=\"t m0 x85 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y36a1 w4f hfd\"><div class=\"t m0 x85 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y36a1 w3b hfd\"><div class=\"t m0 x1c5 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(73)<span class=\"ls1\"> </span></div></td><td class=\"c x220 y36a1 w4f hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(2,500)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y36a1 w4f hfd\"><div class=\"t m0 x8f hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(1,132)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36a2 w3b hfe\"><div class=\"t m0 x109 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y36a2 w4f hfe\"><div class=\"t m0 x85 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y36a2 w4f hfe\"><div class=\"t m0 x85 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y36a2 w4f hfe\"><div class=\"t m0 x6d hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(28)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y36a2 w4f hfe\"><div class=\"t m0 x85 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y36a2 w3b hfe\"><div class=\"t m0 x109 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y36a2 w4f hfe\"><div class=\"t m0 x6d hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(45)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y36a2 w4f hfe\"><div class=\"t m0 x112 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(19)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36a3 w3b hfd\"><div class=\"t m0 x1 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(126)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y36a3 w4f hfd\"><div class=\"t m0 x1aa hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(985)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y36a3 w4f hfd\"><div class=\"t m0 x1bc hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(345)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y36a3 w4f hfd\"><div class=\"t m0 x1c5 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(35)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y36a3 w4f hfd\"><div class=\"t m0 x7c hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y36a3 w3b hfd\"><div class=\"t m0 x13a hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(76)<span class=\"ls1\"> </span></div></td><td class=\"c x220 y36a3 w4f hfd\"><div class=\"t m0 x1a3 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(5,<span class=\"ls1e9\">403</span><span class=\"ls1e9\"><span class=\"ls1\">) </span></span></div></td><td class=\"c x2fc y36a3 w4f hfd\"><div class=\"t m0 x1a3 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(2,<span class=\"ls1dd\">398</span><span class=\"ls1dd\"><span class=\"ls1\">) </span></span></div></td></tr><tr><td class=\"c x1f9 y36a4 w3b hfd\"><div class=\"t m0 x16e hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">580<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y36a4 w4f hfd\"><div class=\"t m0 x13a hfb y2c1d ff42 fsba fc11 sc0 ls1da ws1\">(90)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y36a4 w4f hfd\"><div class=\"t m0 x6d hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">176<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y36a4 w4f hfd\"><div class=\"t m0 x1c5 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">155<span class=\"ls1\"> </span></div></td><td class=\"c x21d y36a4 w4f hfd\"><div class=\"t m0 x1be hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">228<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y36a4 w3b hfd\"><div class=\"t m0 x1c5 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">126<span class=\"ls1\"> </span></div></td><td class=\"c x220 y36a4 w4f hfd\"><div class=\"t m0 x8f hfb y2c1d ff42 fsba fc11 sc0 ls1dd ws1\">3,128<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y36a4 w4f hfd\"><div class=\"t m0 x1a4 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">1,479<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3623 w3b hfe\"><div class=\"t m0 x16e hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">290<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3623 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y3623 w4f hfe\"><div class=\"t m0 xd0 hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">88<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3623 w4f hfe\"><div class=\"t m0 xd0 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">77<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3623 w4f hfe\"><div class=\"t m0 x112 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">114<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3623 w3b hfe\"><div class=\"t m0 x1c4 hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">63<span class=\"ls1\"> </span></div></td><td class=\"c x220 y3623 w4f hfe\"><div class=\"t m0 x1a4 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">1,503<span class=\"ls1\"> </span></div></td><td></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs33c\">The borrowings of j<span class=\"_ _1\"></span>oint ventures and thei<span class=\"_ _1\"></span>r subsidiaries <span class=\"_ _1\"></span>are non<span class=\"ls1\">-<span class=\"ls222\">recourse to the G<span class=\"_ _0\"></span>roup. All joint ventures are </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs33d\">incorpora<span class=\"_ _0\"></span>ted in the Un<span class=\"_ _0\"></span>ited Kingdo<span class=\"_ _0\"></span>m, with the ex<span class=\"_ _0\"></span>ception of B<span class=\"_ _0\"></span>roadgate R<span class=\"_ _0\"></span>EIT Limited<span class=\"_ _0\"></span> <span class=\"ls225\">and South<span class=\"ls1\">g</span>ate<span class=\"ls1\"> <span class=\"ls234\">Property Unit Trus<span class=\"_ _1\"></span>t </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs33e\">which ar<span class=\"_ _1\"></span>e inc<span class=\"ls220\">orporated <span class=\"_ _1\"></span>in Jersey.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs33f\">These financial <span class=\"_ _1\"></span>statements include the <span class=\"_ _1\"></span>results and financi<span class=\"_ _1\"></span>al position of t<span class=\"_ _1\"></span>he Group\u2019s interest <span class=\"_ _1\"></span>in BL Goodman Limited </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs340\">Partnership. Accor<span class=\"_ _1\"></span>dingly, advantage has<span class=\"_ _1\"></span> been taken of the e<span class=\"_ _1\"></span>xemptions provided by Regula<span class=\"_ _1\"></span>tion 7 of the Par<span class=\"_ _1\"></span>tnership </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls243 ws1 gs341\">(Accou<span class=\"ls221\">nts) Regulations 2008 not to at<span class=\"_ _1\"></span>tach the partnership accounts <span class=\"_ _1\"></span>to these financial st<span class=\"_ _1\"></span>atements.</span><span class=\"ls221\"><span class=\"ls1\"> </span></span></div>The summarised<span class=\"ls1\"> <span class=\"ls1fc\">income state<span class=\"_ _0\"></span>ments and<span class=\"_ _0\"></span> balance she<span class=\"_ _0\"></span>ets below a<span class=\"_ _0\"></span>nd on the follo<span class=\"_ _0\"></span>wing page<span class=\"_ _0\"></span> show 100%<span class=\"_ _0\"></span> of the result<span class=\"_ _0\"></span>s, </span></span>assets and liabilit<span class=\"_ _1\"></span>ies of joint ventures<span class=\"ls1\"> <span class=\"ls222\">to the nearest million.</span> </span>Joint ventures\u2019 summary financial statements <span class=\"ls23f\">as at<span class=\"ls1\"> <span class=\"ls282\">31 <span class=\"_ _0\"></span>March 202</span>5 </span></span><table class=\"s w165 h173\" id=\"_dfa52f84-c4cf-4ae7-8e81-1ab36d2292c7\"><tr><td class=\"c x1f9 y36a5 w50 h126\"><div class=\"t m0 x0 h103 y2e28 ff46 fsbd fc4 sc0 ls1f0 ws1\">See page <span class=\"ls1fd\">158 <span class=\"ls1\">f<span class=\"ls1fb\">or additional in<span class=\"ls1f8\">formation on each joint venture</span></span></span></span><span class=\"ls1fd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2fd y36a5 w4e h126\"><div class=\"t m0 x1a5 hf9 y296e ff3d fsb9 fc4 sc0 ls216 ws1\">Broadgate<span class=\"_ _216\"> </span></div><div class=\"t m0 xfa hfc y2e29 ff41 fsbb fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x24 hf9 y296e ff3d fsb9 fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fe y36a6 w166 h172\"><div class=\"t m0 x1e7 hfc y3684 ff41 fsbb fc4 sc0 ls1 ws1\">2<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x2eb y36a5 w41 h126\"><div class=\"t m0 x1b5 hf9 y296e ff3d fsb9 fc4 sc0 ls216 ws1\">BL West End<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x2ff y36a7 w167 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls218 ws1\">Meadowhall<span class=\"_ _216\"> </span></div></td><td class=\"c x201 y36a5 w4e h126\"><div class=\"t m0 x1a6 hf9 y2e2c ff3d fsb9 fc4 sc0 ls28e ws1\">West One<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y36a8 w50 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls20a ws1\">Group share<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36a8 w4e hfe\"><div class=\"t m0 x13a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36a8 w41 hfe\"><div class=\"t m0 x112 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">0%<span class=\"_ _216\"> </span></div><div class=\"t m0 xfa hff y28df ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 xe7 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36a8 w4e hfe\"><div class=\"t m0 x13a hfb y28d5 ff3f fsba fc4 sc0 ls1ea ws1\">25%<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36a8 w41 hfe\"><div class=\"t m0 x13a hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36a9 w4d hf8\"><div class=\"t m0 x0 hfb y294e ff42 fsba fc4 sc0 ls1ed ws1\">Summarised income statements for the year <span class=\"_ _1\"></span>ended 31 March 2025<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36aa w50 hfe\"><div class=\"t m0 x0 hfb y294e ff3f fsba fc4 sc0 ls1d6 ws1\">Revenue<span class=\"_ _216\"> </span></div><div class=\"t m0 x19e hff y2e05 ff44 fsbc fc4 sc0 ls1 ws1\">5</div><div class=\"t m0 x1a2 hfb y294e ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fd y36aa w4e hfe\"><div class=\"t m0 x112 hfb y28fc ff3f fsba fc4 sc0 ls1ea ws1\">242<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36aa w41 hfe\"><div class=\"t m0 x166 hfb y28fc ff3f fsba fc4 sc0 ls1ea ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36aa w4e hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x2eb y36aa w41 hfe\"><div class=\"t m0 x7c hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36ab w50 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d9 ws1\">Costs<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36ab w4e hfe\"><div class=\"t m0 x1c4 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36ab w41 hfe\"><div class=\"t m0 x14 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36ab w4e hfe\"><div class=\"t m0 x125 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36ab w41 hfe\"><div class=\"t m0 x166 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(9)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x2fd y36ac w4e hf8\"><div class=\"t m0 x1c4 hfb y294c ff3f fsba fc4 sc0 ls1dc ws1\">170<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36ac w41 hf8\"><div class=\"t m0 x14 hfb y294c ff3f fsba fc4 sc0 ls1ea ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36ac w4e hf8\"><div class=\"t m0 x85 hfb y294c ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y36ac w41 hf8\"><div class=\"t m0 x125 hfb y294c ff3f fsba fc4 sc0 ls1dc ws1\">19<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36ad w50 hfe\"><div class=\"t m0 x0 hfb y2947 ff3f fsba fc4 sc0 ls1e1 ws1\">Administrati<span class=\"_ _1\"></span>ve expenses<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36ad w4e hfe\"><div class=\"t m0 x12e hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x2ea y36ad w41 hfe\"><div class=\"t m0 x12e hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36ad w4e hfe\"><div class=\"t m0 x12e hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36ad w41 hfe\"><div class=\"t m0 x12e hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36ae w50 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1e1 ws1\">Net interes<span class=\"_ _1\"></span>t payable<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36ae w4e hfe\"><div class=\"t m0 x112 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(66)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36ae w41 hfe\"><div class=\"t m0 x125 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36ae w4e hfe\"><div class=\"t m0 x12e hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36ae w41 hfe\"><div class=\"t m0 x166 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36af w50 hf8\"><div class=\"t m0 x0 hfb y2942 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying Pr<span class=\"_ _1\"></span>ofit <span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36af w4e hf8\"><div class=\"t m0 x1c4 hfb y2942 ff3f fsba fc4 sc0 ls1dc ws1\">107<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36af w41 hf8\"><div class=\"t m0 x14 hfb y2942 ff3f fsba fc4 sc0 ls1dc ws1\">15<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36af w4e hf8\"><div class=\"t m0 x85 hfb y2942 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y36af w41 hf8\"><div class=\"t m0 x14 hfb y2942 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36b0 w50 hfe\"><div class=\"t m0 x0 hfb y28d8 ff3f fsba fc4 sc0 ls1 ws1\">S<span class=\"ls1dd\">hare</span> <span class=\"ls1e0\">of joint venture</span> <span class=\"ls1ee\">result<span class=\"_ _216\"> </span></span></div><div class=\"t m0 x14a hff y2e32 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 xa5 hfb y28d8 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fd y36b0 w4e hfe\"><div class=\"t m0 x125 hfb y2943 ff3f fsba fc4 sc0 ls1ea ws1\">22<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36b0 w41 hfe\"><div class=\"t m0 x12e hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36b0 w4e hfe\"><div class=\"t m0 x12e hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b0 w41 hfe\"><div class=\"t m0 x12e hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b1 w50 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1e1 ws1\">Net valuati<span class=\"_ _1\"></span>on movement<span class=\"ls1e3\">s on property</span><span class=\"ls1e3\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2fd y36b1 w4e hfe\"><div class=\"t m0 x12e hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2ea y36b1 w41 hfe\"><div class=\"t m0 xd5 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x201 y36b1 w4e hfe\"><div class=\"t m0 x12e hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b1 w41 hfe\"><div class=\"t m0 x112 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(33)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36b2 w50 hf8\"><div class=\"t m0 x0 hfb y293d ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing charges <span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36b2 w4e hf8\"><div class=\"t m0 x14 hfb y293d ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36b2 w41 hf8\"><div class=\"t m0 x12e hfb y293d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36b2 w4e hf8\"><div class=\"t m0 x12e hfb y293d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b2 w41 hf8\"><div class=\"t m0 x12e hfb y293d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b3 w50 hfe\"><div class=\"t m0 x0 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1ee\">rofit</span> <span class=\"ls1db\">(loss)</span> <span class=\"ls1e0\">on disposal of <span class=\"ls1eb\">properties</span></span> </div></td><td class=\"c x2fd y36b3 w4e hfe\"><div class=\"t m0 x14 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36b3 w41 hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36b3 w4e hfe\"><div class=\"t m0 x12e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b3 w41 hfe\"><div class=\"t m0 x12e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b4 w50 hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1e8\">rofit</span> <span class=\"ls1da\">(loss)</span> <span class=\"ls1d8\">before taxation</span> </div></td><td class=\"c x2fd y36b4 w4e hfe\"><div class=\"t ma4 x1c4 h127 y2e34 ff3f fsc1 fc4 sc1 ls291 ws1\">139</div><div class=\"t m0 x24 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36b4 w41 hfe\"><div class=\"t ma4 x14 h127 y2e34 ff3f fsc1 fc4 sc1 ls291 ws1\">15</div><div class=\"t m0 x24 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36b4 w4e hfe\"><div class=\"t ma4 x85 h127 y2e34 ff3f fsc1 fc4 sc1 ls1 ws1\">4</div><div class=\"t m0 x24 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36b4 w41 hfe\"><div class=\"t ma4 x6d h127 y2e34 ff3f fsc1 fc4 sc1 ls292 ws1\">(20)</div><div class=\"t m0 x69 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36b5 w50 hf8\"><div class=\"t m0 x0 hfb y2902 ff3f fsba fc4 sc0 ls1e0 ws1\">Taxation<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36b5 w4e hf8\"><div class=\"t m0 x162 hfb y2902 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2ea y36b5 w41 hf8\"><div class=\"t m0 x12e hfb y2902 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36b5 w4e hf8\"><div class=\"t m0 x12e hfb y2902 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b5 w41 hf8\"><div class=\"t m0 x12e hfb y2902 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b6 w50 hf8\"><div class=\"t m0 x0 hfb y2902 ff42 fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1e8\">rofit</span> <span class=\"ls1da\">(loss)</span> <span class=\"ls208\">after taxation</span> </div></td><td class=\"c x2fd y36b6 w4e hf8\"><div class=\"t ma4 x1c4 h127 y2e36 ff3f fsc1 fc4 sc1 ls291 ws1\">139</div><div class=\"t m0 x24 hfb y2923 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36b6 w41 hf8\"><div class=\"t ma4 x14 h127 y2e36 ff3f fsc1 fc4 sc1 ls291 ws1\">15</div><div class=\"t m0 x24 hfb y2923 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36b6 w4e hf8\"><div class=\"t ma4 x85 h127 y2e36 ff3f fsc1 fc4 sc1 ls1 ws1\">4</div><div class=\"t m0 x24 hfb y2923 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36b6 w41 hf8\"><div class=\"t ma4 x6d h127 y2e36 ff3f fsc1 fc4 sc1 ls292 ws1\">(20)</div><div class=\"t m0 x69 hfb y2923 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36b7 w50 hf8\"><div class=\"t m0 x0 hfb y2923 ff3f fsba fc4 sc0 ls204 ws1\">Other compr<span class=\"_ _1\"></span>ehensive <span class=\"ls1db\">(expense) <span class=\"ls1e5\">income<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2fd y36b7 w4e hf8\"><div class=\"t m0 x85 hfb y2923 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36b7 w41 hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x201 y36b7 w4e hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b7 w41 hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b8 w50 hfe\"><div class=\"t m0 x0 hfb y2923 ff42 fsba fc4 sc0 ls1e0 ws1\">Total comprehensive income<span class=\"ls1\"> <span class=\"ls1da\">(expense)</span> </span></div></td><td class=\"c x2fd y36b8 w4e hfe\"><div class=\"t ma4 x1c4 h127 y2e38 ff3f fsc1 fc4 sc1 ls291 ws1\">138</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36b8 w41 hfe\"><div class=\"t ma4 x14 h127 y2e38 ff3f fsc1 fc4 sc1 ls291 ws1\">17</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36b8 w4e hfe\"><div class=\"t ma4 x85 h127 y2e38 ff3f fsc1 fc4 sc1 ls1 ws1\">4</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36b8 w41 hfe\"><div class=\"t ma4 x6d h127 y2e38 ff3f fsc1 fc4 sc1 ls292 ws1\">(20)</div><div class=\"t m0 x69 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36b9 w50 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of total comprehe<span class=\"_ _1\"></span>nsive income<span class=\"ls1\"> <span class=\"ls1da\">(expense)</span> </span></div></td><td class=\"c x2fd y36b9 w4e hfe\"><div class=\"t ma4 x166 h127 y2e3a ff3f fsc1 fc4 sc1 ls293 ws1\">69</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36b9 w41 hfe\"><div class=\"t ma4 x85 h127 y2e3a ff3f fsc1 fc4 sc1 ls1 ws1\">8</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36b9 w4e hfe\"><div class=\"t ma4 x162 h127 y2e3a ff3f fsc1 fc4 sc1 ls1 ws1\">1</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36b9 w41 hfe\"><div class=\"t ma4 x166 h127 y2e3a ff3f fsc1 fc4 sc1 ls292 ws1\">(5)</div><div class=\"t m0 x69 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36ba w50 hfe\"><div class=\"t m0 x0 hfb y28f5 ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of distributi<span class=\"_ _1\"></span>ons payable<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36ba w4e hfe\"><div class=\"t ma4 x166 h127 y2e3c ff3f fsc1 fc4 sc1 ls294 ws1\">45</div><div class=\"t m0 x24 hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36ba w41 hfe\"><div class=\"t ma4 x85 h127 y2e3c ff3f fsc1 fc4 sc1 ls1 ws1\">3</div><div class=\"t m0 x24 hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36ba w4e hfe\"><div class=\"t ma4 x12e h127 y2e3c ff3f fsc1 fc4 sc1 ls1 ws1\">2</div><div class=\"t m0 x24 hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36ba w41 hfe\"><div class=\"t ma4 x85 h127 y2e3c ff3f fsc1 fc4 sc1 ls1 ws1\">3</div><div class=\"t m0 xfa hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36bb w50 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1ed ws1\">Summarised balance sheets<span class=\"ls1\"> <span class=\"ls208\">as at 31 March 2025</span></span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36bc w50 hfe\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d5 ws1\">Investment<span class=\"ls1e4\">, d<span class=\"_ _0\"></span>evelopment a<span class=\"_ _0\"></span>nd<span class=\"ls1\"> <span class=\"ls1ee\">trading properties</span></span></span><span class=\"ls1e4\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2fd y36bc w4e hfe\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1d8 ws1\">4,<span class=\"ls1dc\">179</span><span class=\"ls1dc\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y36bc w41 hfe\"><div class=\"t m0 x12e hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36bc w4e hfe\"><div class=\"t m0 x1c4 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">126<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36bc w41 hfe\"><div class=\"t m0 x112 hfb y28f7 ff3f fsba fc4 sc0 ls1d8 ws1\">415<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36bd w50 hf8\"><div class=\"t m0 x0 hfb y2923 ff3f fsba fc4 sc0 ls1d5 ws1\">Investments in jo<span class=\"_ _0\"></span>int ventures<span class=\"_ _216\"> </span></div><div class=\"t m0 xfc hff y2e3e ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x121 hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fd y36bd w4e hf8\"><div class=\"t m0 x112 hfb y2923 ff3f fsba fc4 sc0 ls1ea ws1\">232<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36bd w41 hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36bd w4e hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36bd w41 hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36be w50 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls204 ws1\">Other non<span class=\"ls1\">-<span class=\"ls1e6\">current as<span class=\"_ _1\"></span>sets</span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2fd y36be w4e hfe\"><div class=\"t m0 x14 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36be w41 hfe\"><div class=\"t m0 x12e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36be w4e hfe\"><div class=\"t m0 x12e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36be w41 hfe\"><div class=\"t m0 x14 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36bf w50 hf8\"><div class=\"t m0 x0 hfb y2933 ff3f fsba fc4 sc0 ls1d9 ws1\">Current assets<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36bf w4e hf8\"><div class=\"t m0 x166 hfb y2935 ff3f fsba fc4 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36bf w41 hf8\"><div class=\"t m0 x12e hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36bf w4e hf8\"><div class=\"t m0 x12e hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x2eb y36bf w41 hf8\"><div class=\"t m0 x85 hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y36c0 w50 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c0 w4e hfe\"><div class=\"t m0 x112 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">16<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36c0 w41 hfe\"><div class=\"t m0 x12e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c0 w4e hfe\"><div class=\"t m0 x85 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y36c0 w41 hfe\"><div class=\"t m0 x14 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c1 w50 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls20a ws1\">Gross assets<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c1 w4e hfe\"><div class=\"t ma4 x1aa h127 y2e41 ff3f fsc1 fc4 sc1 ls294 ws1\">4,615</div><div class=\"t m0 x24 hfb y28e6 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36c1 w41 hfe\"><div class=\"t ma4 x12e h127 y2e41 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 x24 hfb y28e6 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36c1 w4e hfe\"><div class=\"t ma4 x1c4 h127 y2e41 ff3f fsc1 fc4 sc1 ls291 ws1\">132</div><div class=\"t m0 x24 hfb y28e6 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36c1 w41 hfe\"><div class=\"t ma4 x13a h127 y2e41 ff3f fsc1 fc4 sc1 ls294 ws1\">443</div><div class=\"t m0 xfa hfb y28e6 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36c2 w50 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1d9 ws1\">Current liabi<span class=\"_ _1\"></span>lities<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c2 w4e hfe\"><div class=\"t m0 x1c5 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(14<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x2ea y36c2 w41 hfe\"><div class=\"t m0 x12e hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c2 w4e hfe\"><div class=\"t m0 x14 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36c2 w41 hfe\"><div class=\"t m0 xd0 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c3 w50 hf8\"><div class=\"t m0 x0 hfb y294e ff3f fsba fc4 sc0 ls1d6 ws1\">Bank and securit<span class=\"_ _1\"></span>ised debt<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c3 w4e hf8\"><div class=\"t m0 x8f hfb y294e ff3f fsba fc4 sc0 ls1db ws1\">(1,529)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36c3 w41 hf8\"><div class=\"t m0 x12e hfb y294e ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c3 w4e hf8\"><div class=\"t m0 x12e hfb y294e ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36c3 w41 hf8\"><div class=\"t m0 x16e hfb y294e ff3f fsba fc4 sc0 ls1db ws1\">(160)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c4 w50 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">Loans from joint venture part<span class=\"_ _1\"></span>ners<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c4 w4e hfe\"><div class=\"t m0 x1aa hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(1,671)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36c4 w41 hfe\"><div class=\"t m0 x12e hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c4 w4e hfe\"><div class=\"t m0 x112 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(56)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36c4 w41 hfe\"><div class=\"t m0 xd0 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c5 w50 hf8\"><div class=\"t m0 x0 hfb y294c ff3f fsba fc4 sc0 ls204 ws1\">Other non<span class=\"ls1\">-<span class=\"ls1e6\">current l<span class=\"_ _1\"></span>iabilities</span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2fd y36c5 w4e hf8\"><div class=\"t m0 x162 hfb y2947 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2ea y36c5 w41 hf8\"><div class=\"t m0 x12e hfb y2947 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c5 w4e hf8\"><div class=\"t m0 x125 hfb y2947 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36c5 w41 hf8\"><div class=\"t m0 x1c4 hfb y2947 ff3f fsba fc4 sc0 ls1db ws1\">(14)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c6 w50 hf8\"><div class=\"t m0 x0 hfb y2947 ff42 fsba fc4 sc0 ls20a ws1\">Gross liabi<span class=\"_ _1\"></span>lities<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c6 w4e hf8\"><div class=\"t ma4 x192 h127 y2e44 ff3f fsc1 fc4 sc1 ls292 ws1\">(3,347)</div><div class=\"t m0 x15e hfb y2947 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36c6 w41 hf8\"><div class=\"t ma4 x12e h127 y2e44 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 x24 hfb y2947 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36c6 w4e hf8\"><div class=\"t ma4 x112 h127 y2e44 ff3f fsc1 fc4 sc1 ls292 ws1\">(65)</div><div class=\"t m0 x69 hfb y2947 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36c6 w41 hf8\"><div class=\"t ma4 x1bc h127 y2e44 ff3f fsc1 fc4 sc1 ls292 ws1\">(200)</div><div class=\"t m0 x69 hfb y2947 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36c7 w50 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1e1 ws1\">Net assets <span class=\"_ _1\"></span>(liabiliti<span class=\"_ _1\"></span>es)<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c7 w4e hfe\"><div class=\"t ma4 x1aa h127 y2e45 ff3f fsc1 fc4 sc1 ls291 ws1\">1,268</div><div class=\"t m0 x24 hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36c7 w41 hfe\"><div class=\"t ma4 x12e h127 y2e45 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 x24 hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36c7 w4e hfe\"><div class=\"t ma4 x166 h127 y2e45 ff3f fsc1 fc4 sc1 ls293 ws1\">67</div><div class=\"t m0 x24 hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36c7 w41 hfe\"><div class=\"t ma4 x1c5 h127 y2e45 ff3f fsc1 fc4 sc1 ls295 ws1\">243</div><div class=\"t m0 xfa hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y363a w50 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of net assets <span class=\"_ _1\"></span>less shareholder loa<span class=\"_ _1\"></span>ns<span class=\"_ _216\"> </span></div><div class=\"t m0 x77 hff y28df ff43 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x1b hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fd y363a w4e hfe\"><div class=\"t ma4 x6d h127 y2e46 ff3f fsc1 fc4 sc1 ls293 ws1\">634</div><div class=\"t m0 x24 hfb y28ed ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y363a w41 hfe\"><div class=\"t ma4 x12e h127 y2e46 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 x24 hfb y28ed ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y363a w4e hfe\"><div class=\"t ma4 x14 h127 y2e46 ff3f fsc1 fc4 sc1 ls291 ws1\">17</div><div class=\"t m0 x24 hfb y28ed ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y363a w41 hfe\"><div class=\"t ma4 x125 h127 y2e46 ff3f fsc1 fc4 sc1 ls293 ws1\">61</div><div class=\"t m0 xfa hfb y28ed ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">In the prior year, o<span class=\"ls200\">n 24 January 2025, Broadgate REIT L<span class=\"ls1f9\">imited</span></span></span> <span class=\"ls1fc\">(\u2018Broadgate\u2019) entered into<span class=\"_ _0\"></span> a new 50:50 joint venture arrangement with </span></span>Modon <span class=\"ls297\">Holding PSC<span class=\"ls1\"> <span class=\"ls1f9\">in relation to </span><span class=\"ls201\">Broadgate\u2019s<span class=\"ls1\"> <span class=\"ls28f\">wholly<span class=\"_ _1\"></span><span class=\"ls1\">-<span class=\"ls1fb\">owned development property, 2 Finsbury Avenue<span class=\"ls1f7\">. For further detail<span class=\"ls202\">s, refer to </span></span></span></span></span></span></span></span></span>page <span class=\"ls1fd\">153 <span class=\"ls1fb\">of Note<span class=\"ls1\"> </span></span>11.<span class=\"ls1\"> </span></span>2.<span class=\"ls1\"> <span class=\"ls1f1\">In the prior year, o<span class=\"ls200\">n 12 July 2024 the Group completed the disposal of <span class=\"_ _1\"></span>its 50% shareholding in the Meadowhall Shopping Cent<span class=\"_ _1\"></span>re joint </span></span></span>venture. The summarised income statement therefore incl<span class=\"_ _1\"></span>udes 100% of the results of Meado<span class=\"ls28f\">whall up to<span class=\"_ _1\"></span> the date of <span class=\"_ _1\"></span>disposal, 12 <span class=\"_ _1\"></span>July </span>2024. The summarised balance sheet as at 31 March 2025 ref<span class=\"_ _1\"></span>lects the resulting nil Group share of Meadowhall <span class=\"_ _1\"></span>following the dis<span class=\"ls1f2\">posal.<span class=\"ls1\"> </span></span>3.<span class=\"ls1\"> <span class=\"ls1f1\">In accordance with the Group\u2019s a<span class=\"_ _0\"></span>ccounting policies de<span class=\"_ _0\"></span>tailed in Note 1, the Grou<span class=\"ls1f2\">p recognises a nil equity investment in joi<span class=\"_ _1\"></span>nt ventures </span></span></span>in<span class=\"ls1\"> <span class=\"ls1f4\">a net liability position at year end.</span> </span>4.<span class=\"ls1\"> <span class=\"_ _6\"></span><span class=\"ls1f1\">In<span class=\"_ _0\"></span>cluded in the column<span class=\"_ _0\"></span> headed \u2018Other joint v<span class=\"_ _0\"></span>entures\u2019 are contribut<span class=\"_ _0\"></span>ions from the followin<span class=\"_ _0\"></span>g: BL Goodman Lim<span class=\"_ _0\"></span>ited Partnership, </span></span>Bluebutton Property Man<span class=\"_ _1\"></span>agement UK <span class=\"ls200\">Limited, City of London Office Uni<span class=\"_ _1\"></span>t Trust, Reading Gate Retail Park Co<span class=\"ls1\">-<span class=\"ls28f\">Ownersh<span class=\"_ _1\"></span>ip, Eden Walk </span></span></span>Shopping Centre Unit Trust and the <span class=\"_ _1\"></span>Whiteley Shopping Centre Unit Trust.<span class=\"ls1\"> </span>5. <span class=\"ls201\">Revenue inclu<span class=\"_ _1\"></span>des gross rental income at<span class=\"_ _1\"></span> 100% share of <span class=\"ls1\">\u00a3<span class=\"ls203\">332<span class=\"ls1f5\">m (202</span></span>3<span class=\"ls1f6\">/2</span>4<span class=\"ls1f7\">: \u00a3<span class=\"ls203\">375<span class=\"ls1f5\">m).</span></span></span></span></span><div class=\"gs354\"><table class=\"s w168 h174\" id=\"_c01630a1-bca3-4db8-857b-b13fd9d606e5\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x301 y36c8 w8a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x302 y36c9 w15b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">Paddington<span class=\"_ _216\"> </span></div></td><td class=\"c x303 y36ca w15c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27e ws1\">One<span class=\"ls1\"> <span class=\"ls1d2\">Triton<span class=\"_ _216\"> </span></span></span></div></td><td></td><td class=\"c x304 y36ca w15d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Hercules Unit<span class=\"_ _216\"> </span></div></td><td class=\"c x305 y36ca w15e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27e ws1\">Other joint<span class=\"_ _216\"> </span></div></td><td class=\"c x306 y36ca w8a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x307 y36ca w15f h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc4 sc0 ls1d0 ws1\">Group share<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x308 y36cb w3b hfa\"><div class=\"t m0 x197 hf9 y28e1 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Canada Water<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div></td><td class=\"c x309 y36cc w169 h172\"><div class=\"t m0 x1e7 hfc y3684 ff41 fsbb fc4 sc0 ls1 ws1\">3<span class=\"_ _216\"> </span></div></td><td class=\"c x30a y36cd w161 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Square<span class=\"_ _216\"> </span></div></td><td class=\"c x30b y36cb w4f hfa\"><div class=\"t m0 x1a7 hf9 y28e1 ff3d fsb9 fc4 sc0 ls1d2 ws1\">SouthGate<span class=\"ls1\"> </span></div></td><td class=\"c x30c y36cd w162 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Trust<span class=\"ls1\"> <span class=\"ls27d\">JV<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x30d y36cd w16a h148\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">ventures</div><div class=\"t m0 x2f6 hfc y3465 ff41 fsbb fc4 sc0 ls1 ws1\">4<span class=\"_ _216\"> </span></div></td><td class=\"c x306 y36cd w16b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc4 sc0 ls1ce ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x301 y36cd w16b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc4 sc0 ls1ce ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x30e y36ce w164 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Central<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x308 y36cf w3b hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x30f y36cf w4f hfe\"><div class=\"t m0 x1be hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36cf w4f hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36cf w4f hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36cf w4f hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x308 y36d0 w3b hfe\"><div class=\"t m0 x14 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x30f y36d0 w4f hfe\"><div class=\"t m0 x7c hfb y28f3 ff3f fsba fc4 sc0 ls1e0 ws1\">62<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36d0 w4f hfe\"><div class=\"t m0 x12e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x30b y36d0 w4f hfe\"><div class=\"t m0 x125 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">17<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36d0 w4f hfe\"><div class=\"t m0 x166 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\"> </span></div></td><td class=\"c x312 y36d0 w4f hfe\"><div class=\"t m0 x166 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x313 y36d0 w3b hfe\"><div class=\"t m0 x16e hfb y28f3 ff3f fsba fc4 sc0 ls1d8 ws1\">430<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36d0 w4f hfe\"><div class=\"t m0 x6d hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">190<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36d1 w3b hfe\"><div class=\"t m0 x7c hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(8)<span class=\"ls1\"> </span></div></td><td class=\"c x30f y36d1 w4f hfe\"><div class=\"t m0 x1c4 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(19)<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36d1 w4f hfe\"><div class=\"t m0 x14 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36d1 w4f hfe\"><div class=\"t m0 x7c hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36d1 w4f hfe\"><div class=\"t m0 x166 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x312 y36d1 w4f hfe\"><div class=\"t m0 x166 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x313 y36d1 w3b hfe\"><div class=\"t m0 x1 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(130)<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36d1 w4f hfe\"><div class=\"t m0 x6d hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36d2 w3b hf8\"><div class=\"t m0 x85 hfb y2960 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x30f y36d2 w4f hf8\"><div class=\"t m0 xd0 hfb y2960 ff3f fsba fc4 sc0 ls1d8 ws1\">43<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36d2 w4f hf8\"><div class=\"t m0 x85 hfb y2960 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36d2 w4f hf8\"><div class=\"t m0 x166 hfb y2960 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36d2 w4f hf8\"><div class=\"t m0 x166 hfb y2960 ff3f fsba fc4 sc0 ls1dc ws1\">15<span class=\"ls1\"> </span></div></td><td class=\"c x312 y36d2 w4f hf8\"><div class=\"t m0 x166 hfb y2960 ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x313 y36d2 w3b hf8\"><div class=\"t m0 x16e hfb y2960 ff3f fsba fc4 sc0 ls1dd ws1\">300<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36d2 w4f hf8\"><div class=\"t m0 x112 hfb y2960 ff3f fsba fc4 sc0 ls1dc ws1\">133<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36d3 w3b hfe\"><div class=\"t m0 x125 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x30f y36d3 w4f hfe\"><div class=\"t m0 x14 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36d3 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36d3 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36d3 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36d3 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36d3 w3b hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x314 y36d3 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x308 y36d4 w3b hfe\"><div class=\"t m0 x85 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x30f y36d4 w4f hfe\"><div class=\"t m0 x6d hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(26)<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36d4 w4f hfe\"><div class=\"t m0 x85 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36d4 w4f hfe\"><div class=\"t m0 x14 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36d4 w4f hfe\"><div class=\"t m0 x85 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36d4 w4f hfe\"><div class=\"t m0 x85 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36d4 w3b hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(104)<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36d4 w4f hfe\"><div class=\"t m0 x6d hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36d5 w3b hf8\"><div class=\"t m0 x85 hfb y294c ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x30f y36d5 w4f hf8\"><div class=\"t m0 x125 hfb y294c ff3f fsba fc4 sc0 ls1dc ws1\">16<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36d5 w4f hf8\"><div class=\"t m0 x85 hfb y294c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36d5 w4f hf8\"><div class=\"t m0 x125 hfb y294c ff3f fsba fc4 sc0 ls1dc ws1\">12<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36d5 w4f hf8\"><div class=\"t m0 x166 hfb y294c ff3f fsba fc4 sc0 ls1dc ws1\">15<span class=\"ls1\"> </span></div></td><td class=\"c x312 y36d5 w4f hf8\"><div class=\"t m0 x166 hfb y294c ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x313 y36d5 w3b hf8\"><div class=\"t m0 x6d hfb y294c ff3f fsba fc4 sc0 ls1dc ws1\">197<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36d5 w4f hf8\"><div class=\"t m0 x1c4 hfb y294c ff3f fsba fc4 sc0 ls1e0 ws1\">90<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36d6 w3b hfe\"><div class=\"t m0 x109 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30f y36d6 w4f hfe\"><div class=\"t m0 x85 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x310 y36d6 w4f hfe\"><div class=\"t m0 x85 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36d6 w4f hfe\"><div class=\"t m0 x85 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36d6 w4f hfe\"><div class=\"t m0 x85 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36d6 w4f hfe\"><div class=\"t m0 x85 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36d6 w3b hfe\"><div class=\"t m0 xd0 hfb y28d5 ff3f fsba fc4 sc0 ls1ea ws1\">22<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36d6 w4f hfe\"><div class=\"t m0 x109 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36d7 w3b hfe\"><div class=\"t m0 x1c5 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(55)<span class=\"ls1\"> </span></div></td><td class=\"c x30f y36d7 w4f hfe\"><div class=\"t m0 x1c4 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(17)<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36d7 w4f hfe\"><div class=\"t m0 x166 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(8)<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36d7 w4f hfe\"><div class=\"t m0 x125 hfb y28ed ff3f fsba fc4 sc0 ls1ea ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36d7 w4f hfe\"><div class=\"t m0 x166 hfb y28ed ff3f fsba fc4 sc0 ls1dc ws1\">16<span class=\"ls1\"> </span></div></td><td class=\"c x312 y36d7 w4f hfe\"><div class=\"t m0 xd0 hfb y28ed ff3f fsba fc4 sc0 ls1ea ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x313 y36d7 w3b hfe\"><div class=\"t m0 x112 hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dd\">51</span>) </div></td><td class=\"c x314 y36d7 w4f hfe\"><div class=\"t m0 x112 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(1<span class=\"ls1\">4</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x308 y36d8 w3b hf8\"><div class=\"t m0 x109 hfb y28d8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30f y36d8 w4f hf8\"><div class=\"t m0 x166 hfb y28d8 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36d8 w4f hf8\"><div class=\"t m0 x85 hfb y28d8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36d8 w4f hf8\"><div class=\"t m0 x85 hfb y28d8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36d8 w4f hf8\"><div class=\"t m0 x85 hfb y28d8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36d8 w4f hf8\"><div class=\"t m0 x85 hfb y28d8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36d8 w3b hf8\"><div class=\"t m0 x7c hfb y28d8 ff3f fsba fc4 sc0 ls1db ws1\">(9)<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36d8 w4f hf8\"><div class=\"t m0 x166 hfb y28d8 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36d9 w3b hfe\"><div class=\"t m0 x109 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30f y36d9 w4f hfe\"><div class=\"t m0 x85 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x310 y36d9 w4f hfe\"><div class=\"t m0 x85 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36d9 w4f hfe\"><div class=\"t m0 x85 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36d9 w4f hfe\"><div class=\"t m0 x85 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36d9 w4f hfe\"><div class=\"t m0 x109 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x313 y36d9 w3b hfe\"><div class=\"t m0 x166 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36d9 w4f hfe\"><div class=\"t m0 x109 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td></tr><tr><td class=\"c x308 y36da w3b hfe\"><div class=\"t ma4 x13a h127 y2e55 ff3f fsc1 fc4 sc1 ls292 ws1\">(54)</div><div class=\"t m0 xe7 hfb y28d7 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30f y36da w4f hfe\"><div class=\"t ma4 x7c h127 y2e55 ff3f fsc1 fc4 sc1 ls292 ws1\">(6)</div><div class=\"t m0 xe7 hfb y28d7 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x310 y36da w4f hfe\"><div class=\"t ma4 x7c h127 y2e55 ff3f fsc1 fc4 sc1 ls292 ws1\">(8)<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36da w4f hfe\"><div class=\"t ma4 xd0 h127 y2e55 ff3f fsc1 fc4 sc1 ls298 ws1\">33</div><div class=\"t m0 xfa hfb y28d7 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x311 y36da w4f hfe\"><div class=\"t ma4 x166 h127 y2e55 ff3f fsc1 fc4 sc1 ls298 ws1\">31</div><div class=\"t m0 xfa hfb y28d7 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x312 y36da w4f hfe\"><div class=\"t ma4 xd0 h127 y2e55 ff3f fsc1 fc4 sc1 ls298 ws1\">38</div><div class=\"t m0 xd5 hfb y28d7 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x313 y36da w3b hfe\"><div class=\"t ma4 x6d h127 y2e55 ff3f fsc1 fc4 sc1 ls291 ws1\">172</div><div class=\"t m0 xd5 hfb y28d7 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x314 y36da w4f hfe\"><div class=\"t ma4 x1c4 h127 y2e55 ff3f fsc1 fc4 sc1 ls293 ws1\">90</div><div class=\"t m0 xfa hfb y28d7 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x308 y36db w3b hfe\"><div class=\"t m0 x109 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30f y36db w4f hfe\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x310 y36db w4f hfe\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36db w4f hfe\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36db w4f hfe\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36db w4f hfe\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36db w3b hfe\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x314 y36db w4f hfe\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x308 y36dc w3b hf8\"><div class=\"t ma4 x13a h127 y2e56 ff3f fsc1 fc4 sc1 ls292 ws1\">(54)</div><div class=\"t m0 xe7 hfb y293d ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30f y36dc w4f hf8\"><div class=\"t ma4 x7c h127 y2e56 ff3f fsc1 fc4 sc1 ls292 ws1\">(6)</div><div class=\"t m0 xe7 hfb y293d ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x310 y36dc w4f hf8\"><div class=\"t ma4 x7c h127 y2e56 ff3f fsc1 fc4 sc1 ls292 ws1\">(8)<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36dc w4f hf8\"><div class=\"t ma4 xd0 h127 y2e56 ff3f fsc1 fc4 sc1 ls298 ws1\">33</div><div class=\"t m0 xfa hfb y293d ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x311 y36dc w4f hf8\"><div class=\"t ma4 x166 h127 y2e56 ff3f fsc1 fc4 sc1 ls298 ws1\">31</div><div class=\"t m0 xfa hfb y293d ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x312 y36dc w4f hf8\"><div class=\"t ma4 xd0 h127 y2e56 ff3f fsc1 fc4 sc1 ls298 ws1\">38</div><div class=\"t m0 xd5 hfb y293d ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x313 y36dc w3b hf8\"><div class=\"t ma4 x6d h127 y2e56 ff3f fsc1 fc4 sc1 ls291 ws1\">172</div><div class=\"t m0 xd5 hfb y293d ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x314 y36dc w4f hf8\"><div class=\"t ma4 x1c4 h127 y2e56 ff3f fsc1 fc4 sc1 ls293 ws1\">90</div><div class=\"t m0 xfa hfb y293d ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x308 y36dd w3b hf8\"><div class=\"t m0 x109 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30f y36dd w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x310 y36dd w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36dd w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36dd w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36dd w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36dd w3b hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x314 y36dd w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x308 y36de w3b hfe\"><div class=\"t ma4 x13a h127 y2e34 ff3f fsc1 fc4 sc1 ls292 ws1\">(54)</div><div class=\"t m0 xe7 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30f y36de w4f hfe\"><div class=\"t ma4 x7c h127 y2e34 ff3f fsc1 fc4 sc1 ls292 ws1\">(6)</div><div class=\"t m0 xe7 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x310 y36de w4f hfe\"><div class=\"t ma4 x7c h127 y2e34 ff3f fsc1 fc4 sc1 ls292 ws1\">(8)<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36de w4f hfe\"><div class=\"t ma4 xd0 h127 y2e34 ff3f fsc1 fc4 sc1 ls298 ws1\">33</div><div class=\"t m0 xfa hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x311 y36de w4f hfe\"><div class=\"t ma4 x166 h127 y2e34 ff3f fsc1 fc4 sc1 ls298 ws1\">31</div><div class=\"t m0 xfa hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x312 y36de w4f hfe\"><div class=\"t ma4 xd0 h127 y2e34 ff3f fsc1 fc4 sc1 ls298 ws1\">38</div><div class=\"t m0 xd5 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x313 y36de w3b hfe\"><div class=\"t ma4 x6d h127 y2e34 ff3f fsc1 fc4 sc1 ls291 ws1\">173</div><div class=\"t m0 xd5 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x314 y36de w4f hfe\"><div class=\"t ma4 x1c4 h127 y2e34 ff3f fsc1 fc4 sc1 ls293 ws1\">90</div><div class=\"t m0 xfa hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x308 y36df w3b hfe\"><div class=\"t ma4 x1c5 h127 y2e57 ff3f fsc1 fc4 sc1 ls292 ws1\">(27)</div><div class=\"t m0 xe7 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30f y36df w4f hfe\"><div class=\"t ma4 x14 h127 y2e57 ff3f fsc1 fc4 sc1 ls292 ws1\">(1)</div><div class=\"t m0 xe7 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x310 y36df w4f hfe\"><div class=\"t ma4 x7c h127 y2e57 ff3f fsc1 fc4 sc1 ls292 ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36df w4f hfe\"><div class=\"t ma4 x166 h127 y2e57 ff3f fsc1 fc4 sc1 ls291 ws1\">16</div><div class=\"t m0 xfa hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x311 y36df w4f hfe\"><div class=\"t ma4 x166 h127 y2e57 ff3f fsc1 fc4 sc1 ls291 ws1\">15</div><div class=\"t m0 xfa hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x312 y36df w4f hfe\"><div class=\"t ma4 x166 h127 y2e57 ff3f fsc1 fc4 sc1 ls291 ws1\">18</div><div class=\"t m0 xd5 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x313 y36df w3b hfe\"><div class=\"t ma4 x112 h127 y2e57 ff3f fsc1 fc4 sc1 ls293 ws1\">90</div><div class=\"t m0 xd5 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td></td></tr><tr><td class=\"c x308 y36e0 w3b hfe\"><div class=\"t ma4 x109 h127 y2e59 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 xd5 hfb y293b ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30f y36e0 w4f hfe\"><div class=\"t ma4 x85 h127 y2e59 ff3f fsc1 fc4 sc1 ls1 ws1\">2</div><div class=\"t m0 xfa hfb y293b ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x310 y36e0 w4f hfe\"><div class=\"t ma4 x85 h127 y2e59 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 xfa hfb y293b ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30b y36e0 w4f hfe\"><div class=\"t ma4 x109 h127 y2e59 ff3f fsc1 fc4 sc1 ls1 ws1\">4</div><div class=\"t m0 xfa hfb y293b ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x311 y36e0 w4f hfe\"><div class=\"t ma4 x109 h127 y2e59 ff3f fsc1 fc4 sc1 ls1 ws1\">7</div><div class=\"t m0 xfa hfb y293b ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x312 y36e0 w4f hfe\"><div class=\"t ma4 x109 h127 y2e59 ff3f fsc1 fc4 sc1 ls1 ws1\">8</div><div class=\"t m0 xd5 hfb y293b ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x313 y36e0 w3b hfe\"><div class=\"t ma4 x1c4 h127 y2e59 ff3f fsc1 fc4 sc1 ls295 ws1\">74</div><div class=\"t m0 xd5 hfb y293b ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td></td></tr><tr><td class=\"c x308 y36e1 w3b hfe\"><div class=\"t m0 x1be hfb y2928 ff3f fsba fc4 sc0 ls208 ws1\">75<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td><td class=\"c x30f y36e1 w4f hfe\"><div class=\"t m0 x1c5 hfb y2928 ff3f fsba fc4 sc0 ls1d7 ws1\">855<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36e1 w4f hfe\"><div class=\"t m0 x6d hfb y2928 ff3f fsba fc4 sc0 ls1d8 ws1\">419<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36e1 w4f hfe\"><div class=\"t m0 x6d hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">164<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36e1 w4f hfe\"><div class=\"t m0 x112 hfb y2928 ff3f fsba fc4 sc0 ls1ea ws1\">215<span class=\"ls1\"> </span></div></td><td class=\"c x312 y36e1 w4f hfe\"><div class=\"t m0 x6d hfb y2928 ff3f fsba fc4 sc0 ls1ea ws1\">219<span class=\"ls1\"> </span></div></td><td class=\"c x313 y36e1 w3b hfe\"><div class=\"t m0 x1bc hfb y2928 ff3f fsba fc4 sc0 ls208 ws1\">7,351<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36e1 w4f hfe\"><div class=\"t m0 x1a4 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">3,325<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36e2 w3b hf8\"><div class=\"t m0 x109 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30f y36e2 w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x310 y36e2 w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36e2 w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36e2 w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36e2 w4f hf8\"><div class=\"t m0 x85 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36e2 w3b hf8\"><div class=\"t m0 x13a hfb y293a ff3f fsba fc4 sc0 ls1ea ws1\">232<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36e2 w4f hf8\"><div class=\"t m0 x1c4 hfb y293a ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36e3 w3b hfe\"><div class=\"t m0 x109 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30f y36e3 w4f hfe\"><div class=\"t m0 x166 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36e3 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36e3 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36e3 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36e3 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36e3 w3b hfe\"><div class=\"t m0 x7c hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">41 </div></td><td class=\"c x314 y36e3 w4f hfe\"><div class=\"t m0 x166 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36e4 w3b hf8\"><div class=\"t m0 x109 hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x30f y36e4 w4f hf8\"><div class=\"t m0 x109 hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x310 y36e4 w4f hf8\"><div class=\"t m0 x109 hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x30b y36e4 w4f hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x311 y36e4 w4f hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x312 y36e4 w4f hf8\"><div class=\"t m0 x109 hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x313 y36e4 w3b hf8\"><div class=\"t m0 x166 hfb y2923 ff3f fsba fc4 sc0 ls1dd ws1\">51<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36e4 w4f hf8\"><div class=\"t m0 x166 hfb y2923 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36e5 w3b hfe\"><div class=\"t m0 x14 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x30f y36e5 w4f hfe\"><div class=\"t m0 x7c hfb y2967 ff3f fsba fc4 sc0 ls208 ws1\">22<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36e5 w4f hfe\"><div class=\"t m0 x109 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x30b y36e5 w4f hfe\"><div class=\"t m0 x109 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x311 y36e5 w4f hfe\"><div class=\"t m0 x109 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x312 y36e5 w4f hfe\"><div class=\"t m0 x109 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x313 y36e5 w3b hfe\"><div class=\"t m0 x13a hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">2<span class=\"ls1ea\">28</span> </div></td><td class=\"c x314 y36e5 w4f hfe\"><div class=\"t m0 x6d hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">108<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36e6 w3b hfe\"><div class=\"t ma4 x1be h127 y2e3c ff3f fsc1 fc4 sc1 ls295 ws1\">767</div><div class=\"t m0 xd5 hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30f y36e6 w4f hfe\"><div class=\"t ma4 x13a h127 y2e3c ff3f fsc1 fc4 sc1 ls299 ws1\">895</div><div class=\"t m0 xfa hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x310 y36e6 w4f hfe\"><div class=\"t ma4 x13a h127 y2e3c ff3f fsc1 fc4 sc1 ls294 ws1\">427</div><div class=\"t m0 xfa hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30b y36e6 w4f hfe\"><div class=\"t ma4 x1c4 h127 y2e3c ff3f fsc1 fc4 sc1 ls291 ws1\">171</div><div class=\"t m0 xfa hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x311 y36e6 w4f hfe\"><div class=\"t ma4 x13a h127 y2e3c ff3f fsc1 fc4 sc1 ls295 ws1\">224</div><div class=\"t m0 xfa hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x312 y36e6 w4f hfe\"><div class=\"t ma4 x13a h127 y2e3c ff3f fsc1 fc4 sc1 ls295 ws1\">229</div><div class=\"t m0 xd5 hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x313 y36e6 w3b hfe\"><div class=\"t ma4 x192 h127 y2e3c ff3f fsc1 fc4 sc1 ls295 ws1\">7,903</div><div class=\"t m0 xd5 hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x314 y36e6 w4f hfe\"><div class=\"t ma4 x8f h127 y2e3c ff3f fsc1 fc4 sc1 ls298 ws1\">3,581</div><div class=\"t m0 xfa hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x308 y36e7 w3b hfe\"><div class=\"t m0 x1c5 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(25)<span class=\"ls1\"> </span></div></td><td class=\"c x30f y36e7 w4f hfe\"><div class=\"t m0 x112 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(25)<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36e7 w4f hfe\"><div class=\"t m0 x166 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(8)<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36e7 w4f hfe\"><div class=\"t m0 x166 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36e7 w4f hfe\"><div class=\"t m0 x166 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x312 y36e7 w4f hfe\"><div class=\"t m0 x7c hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(8)<span class=\"ls1\"> </span></div></td><td class=\"c x313 y36e7 w3b hfe\"><div class=\"t m0 x1aa hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(23<span class=\"ls1\">9</span><span class=\"ls1\">) </span></div></td><td class=\"c x314 y36e7 w4f hfe\"><div class=\"t m0 x16e hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(105)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36e8 w3b hf8\"><div class=\"t m0 x1 hfb y2935 ff3f fsba fc4 sc0 ls1db ws1\">(126)<span class=\"ls1\"> </span></div></td><td class=\"c x30f y36e8 w4f hf8\"><div class=\"t m0 x1be hfb y2935 ff3f fsba fc4 sc0 ls1db ws1\">(512)<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36e8 w4f hf8\"><div class=\"t m0 x85 hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36e8 w4f hf8\"><div class=\"t m0 x85 hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36e8 w4f hf8\"><div class=\"t m0 x85 hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36e8 w4f hf8\"><div class=\"t m0 x85 hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36e8 w3b hf8\"><div class=\"t m0 x19e hfb y2935 ff3f fsba fc4 sc0 ls1db ws1\">(2,327)<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36e8 w4f hf8\"><div class=\"t m0 x1aa hfb y2935 ff3f fsba fc4 sc0 ls1db ws1\">(996)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36e9 w3b hfe\"><div class=\"t m0 x109 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30f y36e9 w4f hfe\"><div class=\"t m0 x16e hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(451)<span class=\"ls1\"> </span></div></td><td class=\"c x310 y36e9 w4f hfe\"><div class=\"t m0 x1be hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(271)<span class=\"ls1\"> </span></div></td><td class=\"c x30b y36e9 w4f hfe\"><div class=\"t m0 x85 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x311 y36e9 w4f hfe\"><div class=\"t m0 x85 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36e9 w4f hfe\"><div class=\"t m0 x13a hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(101)<span class=\"ls1\"> </span></div></td><td class=\"c x313 y36e9 w3b hfe\"><div class=\"t m0 x19e hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(2,563)<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36e9 w4f hfe\"><div class=\"t m0 x8f hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(1,152)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36ea w3b hf8\"><div class=\"t m0 x109 hfb y294e ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30f y36ea w4f hf8\"><div class=\"t m0 x85 hfb y294e ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x310 y36ea w4f hf8\"><div class=\"t m0 x85 hfb y294e ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x30b y36ea w4f hf8\"><div class=\"t m0 x6d hfb y294e ff3f fsba fc4 sc0 ls1db ws1\">(28)<span class=\"ls1\"> </span></div></td><td class=\"c x311 y36ea w4f hf8\"><div class=\"t m0 x85 hfb y294e ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x312 y36ea w4f hf8\"><div class=\"t m0 x85 hfb y294e ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x313 y36ea w3b hf8\"><div class=\"t m0 x13a hfb y294e ff3f fsba fc4 sc0 ls1db ws1\">(46)<span class=\"ls1\"> </span></div></td><td class=\"c x314 y36ea w4f hf8\"><div class=\"t m0 x1c4 hfb y294e ff3f fsba fc4 sc0 ls1db ws1\">(18)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x308 y36eb w3b hf8\"><div class=\"t ma4 x1be h127 y2e61 ff3f fsc1 fc4 sc1 ls292 ws1\">(151)</div><div class=\"t m0 xe7 hfb y294e ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30f y36eb w4f hf8\"><div class=\"t ma4 x1bc h127 y2e61 ff3f fsc1 fc4 sc1 ls292 ws1\">(988)</div><div class=\"t m0 xe7 hfb y294e ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x310 y36eb w4f hf8\"><div class=\"t ma4 x1aa h127 y2e61 ff3f fsc1 fc4 sc1 ls292 ws1\">(279)</div><div class=\"t m0 xe7 hfb y294e ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30b y36eb w4f hf8\"><div class=\"t ma4 x1c5 h127 y2e61 ff3f fsc1 fc4 sc1 ls292 ws1\">(34)</div><div class=\"t m0 xe7 hfb y294e ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x311 y36eb w4f hf8\"><div class=\"t ma4 x7c h127 y2e61 ff3f fsc1 fc4 sc1 ls292 ws1\">(2)</div><div class=\"t m0 xe7 hfb y294e ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x312 y36eb w4f hf8\"><div class=\"t ma4 x1aa h127 y2e61 ff3f fsc1 fc4 sc1 ls292 ws1\">(109)</div><div class=\"t m0 xe7 hfb y294e ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x313 y36eb w3b hf8\"><div class=\"t ma4 x192 h127 y2e61 ff3f fsc1 fc4 sc1 ls292 ws1\">(5,175)</div><div class=\"t m0 xe7 hfb y294e ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x314 y36eb w4f hf8\"><div class=\"t ma4 x192 h127 y2e61 ff3f fsc1 fc4 sc1 ls292 ws1\">(2,271)</div><div class=\"t m0 xe7 hfb y294e ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x308 y35a8 w3b hfe\"><div class=\"t ma4 x1c5 h127 y2e62 ff3f fsc1 fc4 sc1 ls293 ws1\">616</div><div class=\"t m0 xd5 hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30f y35a8 w4f hfe\"><div class=\"t ma4 x1c5 h127 y2e62 ff3f fsc1 fc4 sc1 ls292 ws1\">(93)</div><div class=\"t m0 xe7 hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x310 y35a8 w4f hfe\"><div class=\"t ma4 x6d h127 y2e62 ff3f fsc1 fc4 sc1 ls291 ws1\">148</div><div class=\"t m0 xfa hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30b y35a8 w4f hfe\"><div class=\"t ma4 x6d h127 y2e62 ff3f fsc1 fc4 sc1 ls291 ws1\">137</div><div class=\"t m0 xfa hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x311 y35a8 w4f hfe\"><div class=\"t ma4 x13a h127 y2e62 ff3f fsc1 fc4 sc1 ls295 ws1\">222</div><div class=\"t m0 xfa hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x312 y35a8 w4f hfe\"><div class=\"t ma4 x1c5 h127 y2e62 ff3f fsc1 fc4 sc1 ls291 ws1\">120</div><div class=\"t m0 xd5 hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x313 y35a8 w3b hfe\"><div class=\"t ma4 x1ad h127 y2e62 ff3f fsc1 fc4 sc1 ls295 ws1\">2,728</div><div class=\"t m0 xd5 hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x314 y35a8 w4f hfe\"><div class=\"t ma4 x1bc h127 y2e62 ff3f fsc1 fc4 sc1 ls291 ws1\">1,310</div><div class=\"t m0 xfa hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x308 y35a9 w3b hfe\"><div class=\"t ma4 x16e h127 y2e62 ff3f fsc1 fc4 sc1 ls298 ws1\">308</div><div class=\"t m0 xd5 hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30f y35a9 w4f hfe\"><div class=\"t ma4 x85 h127 y2e62 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 xfa hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x310 y35a9 w4f hfe\"><div class=\"t ma4 xd0 h127 y2e62 ff3f fsc1 fc4 sc1 ls295 ws1\">74</div><div class=\"t m0 xfa hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x30b y35a9 w4f hfe\"><div class=\"t ma4 xd0 h127 y2e62 ff3f fsc1 fc4 sc1 ls293 ws1\">69</div><div class=\"t m0 xfa hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x311 y35a9 w4f hfe\"><div class=\"t ma4 x112 h127 y2e62 ff3f fsc1 fc4 sc1 ls291 ws1\">110</div><div class=\"t m0 xfa hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x312 y35a9 w4f hfe\"><div class=\"t ma4 x166 h127 y2e62 ff3f fsc1 fc4 sc1 ls293 ws1\">61</div><div class=\"t m0 xd5 hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x313 y35a9 w3b hfe\"><div class=\"t ma4 x1a4 h127 y2e62 ff3f fsc1 fc4 sc1 ls291 ws1\">1,334</div><div class=\"t m0 xd5 hfb y28fc ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs355\">The borrowings of j<span class=\"_ _1\"></span>oint ventures and thei<span class=\"_ _1\"></span>r subsidiaries <span class=\"_ _1\"></span>are non<span class=\"ls1\">-<span class=\"ls222\">recourse to the G<span class=\"_ _0\"></span>roup. All joint ventures are </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs356\">incorpora<span class=\"_ _0\"></span>ted in the Un<span class=\"_ _0\"></span>ited Kingdo<span class=\"_ _0\"></span>m, with the ex<span class=\"_ _0\"></span>ception of B<span class=\"_ _0\"></span>roadgate R<span class=\"_ _0\"></span>EIT Limited<span class=\"_ _0\"></span>, Eden Walk<span class=\"_ _0\"></span> Shopping<span class=\"_ _0\"></span> Centre Unit<span class=\"_ _0\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs357\">Trust and <span class=\"ls20c\">Southgate<span class=\"ls1\"> <span class=\"ls24a\">Propert<span class=\"_ _1\"></span>y Unit<span class=\"ls1\"> <span class=\"ls220\">Trust <span class=\"ls236\">which <span class=\"_ _1\"></span>are incor<span class=\"_ _1\"></span>porated i<span class=\"_ _1\"></span>n Jersey. <span class=\"_ _1\"></span><span class=\"ls1\"> </span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs358\">These financial <span class=\"_ _1\"></span>statements include the <span class=\"_ _1\"></span>results and financi<span class=\"_ _1\"></span>al position of t<span class=\"_ _1\"></span>he Group\u2019s interest <span class=\"_ _1\"></span>in<span class=\"ls1\"> <span class=\"ls232\">BL Goodman Limited </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs359\">Partnership. Accor<span class=\"_ _1\"></span>dingly, advantage has<span class=\"_ _1\"></span> been taken of the e<span class=\"_ _1\"></span>xemptions provided by Regula<span class=\"_ _1\"></span>tion 7 of t<span class=\"ls221\">he Partner<span class=\"_ _1\"></span>ship </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls243 ws1 gs35a\">(Accounts) Regulations 20<span class=\"_ _0\"></span>08 not to attach the partnership acco<span class=\"_ _0\"></span>unts to these financial statements.<span class=\"ls1\"> </span></div>Summary of <span class=\"ls1\">j<span class=\"ls245\">oint </span>v<span class=\"ls282\">enture</span> <span class=\"ls241\">details</span> </span><table class=\"s w16c h175\" id=\"_a09c1877-f0fe-4a02-b9df-7092eb5fa998\"><tr><td class=\"c x1f9 y36ec w51 hf8\"><div class=\"t m0 x0 hf9 y294e ff3d fsb9 fc4 sc0 ls27d ws1\">Joint <span class=\"ls1\">v<span class=\"ls1cf\">enture</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x315 y36ec w52 hf8\"><div class=\"t m0 x1c3 hf9 y294e ff3d fsb9 fc4 sc0 ls1d0 ws1\">Name<span class=\"ls1\"> </span></div></td><td class=\"c x316 y36ec w53 hf8\"><div class=\"t m0 x0 hf9 y294e ff3d fsb9 fc4 sc0 ls215 ws1\">Partner<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36ec w54 hf8\"><div class=\"t m0 x0 hf9 y294e ff3d fsb9 fc4 sc0 ls215 ws1\">Property sector<span class=\"ls1\"> </span></div></td><td class=\"c x318 y36ec w55 hf8\"><div class=\"t m0 x1b1 hf9 y294e ff3d fsb9 fc4 sc0 ls1d0 ws1\">Group share<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36ed w51 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">Broadgate REIT <span class=\"ls1dd\">Limi<span class=\"_ _1\"></span>ted</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x315 y36ed w52 hfd\"><div class=\"t m0 x1c3 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">Broadgate<span class=\"ls1\"> </span></div></td><td class=\"c x316 y36ed w53 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d8 ws1\">Euro Bluebell LLP <span class=\"_ _1\"></span>(GIC)<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36ed w54 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d9 ws1\">City Campuses<span class=\"ls1\"> </span></div></td><td class=\"c x318 y36ed w55 hfd\"><div class=\"t m0 x19a hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y36ee w16d h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">MSC Propert<span class=\"_ _1\"></span>y Intermedia<span class=\"_ _1\"></span>te Holdings<span class=\"_ _216\"> </span></div></td><td class=\"c x315 y36ef w52 h10b\"><div class=\"t m0 x1c3 hfb y2906 ff3f fsba fc4 sc0 ls20b ws1\">Meadowhall<span class=\"ls1\"> </span></div></td><td class=\"c x319 y36ee w16e h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e1 ws1\">Norges Bank I<span class=\"_ _1\"></span>nvestment<span class=\"_ _216\"> </span></div></td><td class=\"c x317 y36ef w54 h10b\"><div class=\"t m0 x0 hfb y2906 ff3f fsba fc4 sc0 ls1ed ws1\">Shopping <span class=\"ls1\">C<span class=\"ls208\">entre</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x318 y36ef w55 h10b\"><div class=\"t m0 x1a2 hfb y2906 ff3f fsba fc4 sc0 ls275 ws1\">0%<span class=\"_ _216\"> </span></div><div class=\"t m0 x1c4 hff y2e6e ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x7c hfb y2906 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1fe y36f0 w16f h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1 ws1\">L<span class=\"ls1e5\">imited<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x319 y36f1 w170 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">Management<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36f2 w51 h102\"><div class=\"t m0 x0 hfb y2d74 ff3f fsba fc4 sc0 ls27a ws1\">WOSC Par<span class=\"_ _1\"></span>tners <span class=\"_ _1\"></span>Limited <span class=\"_ _1\"></span>Partner<span class=\"_ _1\"></span>ship<span class=\"ls1\"> </span></div></td><td class=\"c x315 y36f2 w52 h102\"><div class=\"t m0 x1c3 hfb y2d74 ff3f fsba fc4 sc0 ls27a ws1\">West On<span class=\"_ _1\"></span>e<span class=\"ls1\"> </span></div></td><td class=\"c x319 y36f3 w171 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e1 ws1\">Norges Bank <span class=\"ls1d5\">Investment<span class=\"_ _216\"> </span></span></div></td><td class=\"c x317 y36f2 w54 h102\"><div class=\"t m0 x0 hfb y2d74 ff3f fsba fc4 sc0 ls27a ws1\">West En<span class=\"_ _1\"></span>d Campuse<span class=\"_ _1\"></span>s<span class=\"ls1\"> </span></div></td><td class=\"c x318 y36f2 w55 h102\"><div class=\"t m0 x1a3 hfb y2d74 ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x319 y36f4 w170 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">Management<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36f5 w51 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL West End Offic<span class=\"_ _1\"></span>es Limited<span class=\"ls1\"> </span></div></td><td class=\"c x315 y36f5 w52 hfe\"><div class=\"t m0 x1c3 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL West End<span class=\"ls1\"> </span></div></td><td class=\"c x316 y36f5 w53 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1eb ws1\">Pimco Prime<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36f5 w54 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls27a ws1\">West En<span class=\"_ _1\"></span>d <span class=\"ls1d9\">Campuses</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x318 y36f5 w55 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36f6 w51 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">BL CW Upper Limited <span class=\"_ _1\"></span>Partnership<span class=\"ls1\"> </span></div></td><td class=\"c x315 y36f6 w52 hfd\"><div class=\"t m0 x1c3 hfb y292f ff3f fsba fc4 sc0 ls1d9 ws1\">Canada Water<span class=\"ls1\"> </span></div></td><td class=\"c x316 y36f6 w53 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e1 ws1\">Australian <span class=\"_ _1\"></span>Super<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36f6 w54 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls204 ws1\">Other <span class=\"ls1d9\">Campuses</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x318 y36f6 w55 hfd\"><div class=\"t m0 x19a hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y36f7 w172 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington Property I<span class=\"_ _1\"></span>nvestment<span class=\"_ _216\"> </span></div></td><td class=\"c x31a y36f7 w173 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y36f7 w174 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d8 ws1\">Euro Emerald Private<span class=\"_ _216\"> </span></div></td><td class=\"c x317 y36f8 w54 h102\"><div class=\"t m0 x0 hfb y2d74 ff3f fsba fc4 sc0 ls27a ws1\">West En<span class=\"_ _1\"></span>d <span class=\"ls1d9\">Campuses</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x318 y36f8 w55 h102\"><div class=\"t m0 x1a3 hfb y2d74 ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y36f9 w175 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1dd ws1\">Limited Partnership<span class=\"_ _216\"> </span></div></td><td class=\"c x31a y36f9 w176 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d9 ws1\">Central<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y36f9 w177 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1dd ws1\">Limited (GIC)<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36fa w51 h10b\"><div class=\"t m0 x0 hfb y2e6f ff3f fsba fc4 sc0 ls204 ws1\">One Triton<span class=\"_ _1\"></span> Holding Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x31a y36fb w178 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls204 ws1\">One<span class=\"ls1\"> <span class=\"ls1e0\">Triton<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x319 y36fb w179 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">The Royal London Mutual<span class=\"_ _216\"> </span></div></td><td class=\"c x317 y36fa w54 h10b\"><div class=\"t m0 x0 hfb y2e6f ff3f fsba fc4 sc0 ls27a ws1\">West En<span class=\"_ _1\"></span>d <span class=\"ls1d9\">Campuses</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x318 y36fa w55 h10b\"><div class=\"t m0 x19a hfb y2e6f ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x31a y36fc w17a h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ed ws1\">Square<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y36fd w17b h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d5 ws1\">Insurance Soc<span class=\"_ _0\"></span>iety Limited<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36fe w51 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1ed ws1\">South<span class=\"ls1\">g<span class=\"ls1e6\">ate <span class=\"ls1eb\">Property Unit Trus<span class=\"_ _1\"></span>t</span></span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></span></span></div></td><td class=\"c x315 y36fe w52 hfe\"><div class=\"t m0 x1c3 hfb y28fc ff3f fsba fc4 sc0 ls1ed ws1\">South<span class=\"ls1\">G<span class=\"ls1e6\">ate</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x316 y36fe w53 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1e1 ws1\">Aviva Invest<span class=\"_ _1\"></span>ors<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36fe w54 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1ed ws1\">Shopping Centre<span class=\"ls1\"> </span></div></td><td class=\"c x318 y36fe w55 hfe\"><div class=\"t m0 x19a hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36ff w51 h102\"><div class=\"t m0 x0 hfb y2e72 ff3f fsba fc4 sc0 ls28c ws1\">Hercules Uni<span class=\"_ _1\"></span>t Trust joint<span class=\"_ _1\"></span> venture<span class=\"ls1\"> </span></div></td><td class=\"c x31a y3621 w17c h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls28c ws1\">Hercules Uni<span class=\"_ _1\"></span>t<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y3621 w17d h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">The Prudential Assurance<span class=\"_ _216\"> </span></div></td><td class=\"c x317 y36ff w54 h102\"><div class=\"t m0 x0 hfb y2e72 ff3f fsba fc4 sc0 ls1d6 ws1\">Retail Park<span class=\"ls1\">s</span><span class=\"ls1\"> </span></div></td><td class=\"c x318 y36ff w55 h102\"><div class=\"t m0 x19a hfb y2e72 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x31a y3639 w17e h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">Trust JV<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y3639 w17f h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d9 ws1\">Company Limited<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">In the prior year, o<span class=\"ls200\">n 12 July 2024</span></span>, <span class=\"ls1f3\">the Group co<span class=\"_ _0\"></span>mpleted the disposal of its 50% shareholdin<span class=\"_ _0\"></span>g in the Meadowhall Shopping Centre<span class=\"_ _0\"></span> </span></span>joint<span class=\"ls1\"> <span class=\"ls1fa\">venture.</span> </span>Operating ca<span class=\"_ _0\"></span>sh flows of<span class=\"_ _0\"></span> joint ven<span class=\"_ _0\"></span>tures (Group <span class=\"_ _0\"></span>share)<span class=\"ls1\"> </span><table class=\"s w18b h177\" id=\"_18e471eb-6df8-4e34-af96-77d5f1d30e5f\"><tr><td></td><td class=\"c x32d y370a w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y370a w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y370b w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y370b wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y370c w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Income receiv<span class=\"_ _0\"></span>ed from tenants<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y370c w24 hfd\"><div class=\"t m0 x192 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">1<span class=\"ls1d7\">81</span> </div></td><td class=\"c x1fd y370c w24 hfd\"><div class=\"t m0 x19e hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">176<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y370d w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>expenses pai<span class=\"_ _1\"></span>d to <span class=\"ls1e3\">suppliers and employees</span><span class=\"ls1e3\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y370d w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(76)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y370d w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(70)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y370e w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1eb ws1\">Proceeds from <span class=\"ls1e3\">sale<span class=\"ls1\"> <span class=\"ls1e0\">of trading <span class=\"_ _1\"></span>properties</span></span></span><span class=\"ls1e3\"><span class=\"ls1\"><span class=\"ls1e0\"><span class=\"ls1\"> </span></span></span></span></div></td><td class=\"c x1fc y370e w24 hfd\"><div class=\"t m0 x1a4 hfb y28f7 ff42 fsba fc11 sc0 ls1df ws1\">18<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y370e w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y370f w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1d9 ws1\">Cash generated fr<span class=\"_ _1\"></span>om operations<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y370f w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1 ws1\">1<span class=\"ls1d7\">23</span> </div></td><td class=\"c x1fd y370f w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">106<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3710 w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest paid<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3710 w24 hfe\"><div class=\"t m0 x1a3 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(48)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3710 w24 hfe\"><div class=\"t m0 x1a3 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(46)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3711 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d5 ws1\">Interest received<span class=\"_ _0\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3711 w24 hfd\"><div class=\"t m0 x1aa hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x1fd y3711 w24 hfd\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y3712 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1e2 ws1\">UK corporation <span class=\"_ _1\"></span>tax <span class=\"ls1eb\">paid</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3712 w24 hfe\"><div class=\"t m0 x8f hfb y28d5 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3712 w24 hfe\"><div class=\"t m0 x1bc hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3713 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1d9 ws1\">Cash inflow fr<span class=\"_ _1\"></span>om operating activiti<span class=\"_ _1\"></span>es<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3713 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">83<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3713 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">64<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3714 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff42 fsba fc4 sc0 ls1d9 ws1\">Cash <span class=\"ls207\">inflow from opera<span class=\"_ _0\"></span>ting activities deplo<span class=\"_ _0\"></span>yed as:</span><span class=\"ls207\"><span class=\"ls1\"> </span></span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3715 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">S<span class=\"ls1dd\">urplus</span> <span class=\"ls1db\">(deficit)</span> <span class=\"ls1e6\">cash retained within joint ventures </span> </div></td><td class=\"c x1fc y3715 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">22<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3715 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(8)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b2 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">Revenue distribut<span class=\"_ _1\"></span>ions per consolid<span class=\"_ _1\"></span>ated statement of ca<span class=\"_ _1\"></span>sh flows<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35b2 w24 hfd\"><div class=\"t m0 x1a4 hfb y297c ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b2 w24 hfd\"><div class=\"t m0 x1ad hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">72<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b4 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1d6 ws1\">Revenue distribut<span class=\"_ _1\"></span>ions a<span class=\"ls1e8\">ttributable<span class=\"ls1\"> </span>to shareholders of the C<span class=\"_ _0\"></span>ompany</span><span class=\"ls1e8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y35b4 w24 hfe\"><div class=\"t m0 x1a4 hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b4 w24 hfe\"><div class=\"t m0 x1ad hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">72<span class=\"ls1\"> </span></div></td></tr></table>12<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls29b\">Other investments</span> </span><table class=\"s w180 h176\" id=\"_e9ad3a6e-c2ec-43a7-9fb9-54adfe6b0527\"><tr><td></td><td></td><td class=\"c x31b y3700 w57 hf8\"><div class=\"t m0 x163 hf9 y28f3 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x31c y3700 w57 hf8\"><div class=\"t m0 x163 hf9 y28f3 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x31d y3701 w181 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td></td><td></td><td class=\"c x31e y3701 w182 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x31f y3702 w183 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls271 ws1\">through<span class=\"_ _216\"> </span></div></td><td class=\"c x320 y3702 w184 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls284 ws1\">Intangible<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x321 y3702 w185 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls217 ws1\">through<span class=\"_ _216\"> </span></div></td><td class=\"c x322 y3702 w186 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls287 ws1\">Intangible<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x323 y3703 w187 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26c ws1\">profit or loss<span class=\"_ _216\"> </span></div></td><td class=\"c x324 y3703 w188 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">assets<span class=\"_ _216\"> </span></div></td><td class=\"c x1ed y3703 w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x325 y3703 w189 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">profit or loss<span class=\"_ _216\"> </span></div></td><td class=\"c x326 y3703 w18a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d5 ws1\">assets<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y3703 wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x327 y35c4 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x328 y35c4 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f5 y35c4 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x329 y35c4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x32a y35c4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35c4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3704 w56 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1e1 ws1\">At 1 April<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x31b y3704 w58 hfd\"><div class=\"t m0 x1a4 hfb y2928 ff42 fsba fc11 sc0 ls1e9 ws1\">41<span class=\"ls1\"> </span></div></td><td class=\"c x32b y3704 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fb y3704 w24 hfd\"><div class=\"t m0 x1a2 hfb y2928 ff42 fsba fc11 sc0 ls1e9 ws1\">48<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3704 w24 hfd\"><div class=\"t m0 x1a2 hfb y2928 ff3f fsba fc4 sc0 ls1d8 ws1\">46<span class=\"ls1\"> </span></div></td><td class=\"c x32c y3704 w58 hfd\"><div class=\"t m0 x1 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x1fd y3704 w24 hfd\"><div class=\"t m0 x1a2 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">54<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3705 w56 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1e1 ws1\">Additions<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3705 w58 hfe\"><div class=\"t m0 x1 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x32b y3705 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3705 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x31c y3705 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x32c y3705 w58 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fd y3705 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y3706 w56 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d9 ws1\">Capital dist<span class=\"_ _1\"></span>ribution<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3706 w58 hfd\"><div class=\"t m0 x1a4 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(7)<span class=\"ls1\"> </span></div></td><td class=\"c x32b y3706 w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3706 w24 hfd\"><div class=\"t m0 x1a4 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(7)<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3706 w24 hfd\"><div class=\"t m0 x1a4 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x32c y3706 w58 hfd\"><div class=\"t m0 x16e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3706 w24 hfd\"><div class=\"t m0 x1a4 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3707 w56 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1d6 ws1\">Revaluation and <span class=\"_ _1\"></span>foreign currency t<span class=\"_ _1\"></span>ranslation<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3707 w58 hfe\"><div class=\"t m0 x1a4 hfb y28ed ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x32b y3707 w24 hfe\"><div class=\"t m0 x1 hfb y28ed ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3707 w24 hfe\"><div class=\"t m0 x1ad hfb y28ed ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3707 w24 hfe\"><div class=\"t m0 x1a4 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x32c y3707 w58 hfe\"><div class=\"t m0 x16e hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3707 w24 hfe\"><div class=\"t m0 x1a4 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3708 w56 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1e1 ws1\">Amortisation<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3708 w58 hfd\"><div class=\"t m0 x16e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x32b y3708 w24 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3708 w24 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3708 w24 hfd\"><div class=\"t m0 x16e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x32c y3708 w58 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3708 w24 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3709 w56 hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1e1 ws1\">At 31 March<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3709 w58 hfe\"><div class=\"t m0 x1ad hfb y28fc ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x32b y3709 w24 hfe\"><div class=\"t m0 x1aa hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fb y3709 w24 hfe\"><div class=\"t m0 x1a2 hfb y28fc ff42 fsba fc11 sc0 ls1dd ws1\">37<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3709 w24 hfe\"><div class=\"t m0 x8f hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">41<span class=\"ls1\"> </span></div></td><td class=\"c x32c y3709 w58 hfe\"><div class=\"t m0 x16e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fd y3709 w24 hfe\"><div class=\"t m0 x1a2 hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">48<span class=\"ls1\"> </span></div></td></tr></table>The amount included i<span class=\"_ _1\"></span>n the fair value <span class=\"_ _1\"></span>through profit or l<span class=\"_ _1\"></span>oss relates to pri<span class=\"_ _1\"></span>vate equity/venture c<span class=\"_ _1\"></span>apital investments of<span class=\"ls1\"> \u00a3<span class=\"ls221\">32<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a34</span>1<span class=\"ls233\">m) which <span class=\"_ _1\"></span>are cat<span class=\"_ _1\"></span>egorised <span class=\"_ _1\"></span>as Level<span class=\"_ _1\"></span> 3 in<span class=\"_ _1\"></span> the fa<span class=\"_ _1\"></span>ir val<span class=\"_ _1\"></span>ue hier<span class=\"_ _1\"></span>archy. <span class=\"_ _1\"></span>The fai<span class=\"_ _1\"></span>r values<span class=\"_ _1\"></span> of pr<span class=\"_ _1\"></span>ivate </span></span>equity/venture capital i<span class=\"_ _1\"></span>nves<span class=\"ls222\">tments are dete<span class=\"_ _0\"></span>rmined by the Directors.</span><span class=\"ls222\"><span class=\"ls1\"> </span></span><div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs4aa\">25 <span class=\"_ _23\"> </span><span class=\"ls274\">Audit exemptions taken for subsi<span class=\"_ _0\"></span>diaries</span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs4ab\">The following subsi<span class=\"_ _1\"></span>diaries are exempt <span class=\"_ _1\"></span>from the requirements of <span class=\"_ _1\"></span>the Companies Act 2006 re<span class=\"ls1fc\">lating to the audit<span class=\"_ _0\"></span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs4ac\">of<span class=\"ls1\"> <span class=\"ls1fc\">individual a<span class=\"_ _0\"></span>ccounts by<span class=\"_ _0\"></span> virtue of Sect<span class=\"_ _0\"></span>ion 479A o<span class=\"_ _0\"></span>f that Act.</span> </span></div><div class=\"gs4ad\"><table class=\"s w218 h19c\" id=\"_2d2d3337-55dc-4b6d-b1f8-9ffc063e88f8\"><tr><td></td><td class=\"c x3f5 y38d3 w219 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Company<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d4 w72 h106\"><div class=\"t m0 x0 hf9 y294e ff3d fsb9 fc4 sc0 ls215 ws1\">Entity Name<span class=\"ls1\"> </span></div></td><td class=\"c x3f5 y38d5 w21a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Number<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d6 w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">17<span class=\"ls1\">-</span>19 Bedford Street L<span class=\"_ _0\"></span>imited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38d6 w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls275 ws1\">07398971<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d7 w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\">-<span class=\"ls208\">20 Craven Hill Gardens Limited</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x223 y38d7 w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls275 ws1\">07667839<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d8 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">20 Brock Street Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38d8 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls275 ws1\">07401697<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d9 w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1e1 ws1\">Ashband Limite<span class=\"_ _1\"></span>d<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38d9 w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls275 ws1\">04409592<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38da w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">B.L.Holdings L<span class=\"_ _1\"></span>imited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38da w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls275 ws1\">00000529<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38db w72 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">Bayeast Property <span class=\"_ _1\"></span>Co Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38db w58 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls275 ws1\">00635800<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38dc w72 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">BF Properties (<span class=\"_ _1\"></span>No.5) Ltd<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38dc w58 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls275 ws1\">05270039<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38dd w72 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL 5KS Holdings L<span class=\"_ _1\"></span>imited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38dd w58 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">13398992<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38de w72 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Aldgate Development<span class=\"_ _1\"></span> Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38de w58 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">05070564<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38df w72 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Aldgate Invest<span class=\"_ _1\"></span>ment Holdings <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y38df w58 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">15314977<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e0 w72 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Bluebutton 2023 <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e0 w58 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">15306841<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e1 w72 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL Bradford Forst<span class=\"_ _1\"></span>er Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e1 w58 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls275 ws1\">07780266<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e2 w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">BL Broadway Investment<span class=\"_ _1\"></span> Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e2 w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">10754763<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e3 w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Chess Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e3 w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls275 ws1\">08548399<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e4 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">BL City Offic<span class=\"_ _1\"></span>es Holding Company Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e4 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls275 ws1\">06002147<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e5 w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d6 ws1\">BL CW Residential <span class=\"_ _1\"></span>Holdings Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e5 w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">14178788<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e6 w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL CW Upper LP Company Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e6 w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">10375411<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38e7 w21b h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Department Stores<span class=\"_ _1\"></span> Holding Company Limit<span class=\"_ _1\"></span>ed<span class=\"_ _216\"> </span></div><div class=\"t m0 x3f6 hfb y3479 ff3f fsba fc4 sc0 ls275 ws1\">06002135<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y38e8 w72 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Didcot 1 Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e8 w58 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls275 ws1\">05422338<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e9 w72 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Didcot 2 Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e9 w58 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls275 ws1\">05495284<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ea w72 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Doncaster Wheatle<span class=\"_ _1\"></span>y Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ea w58 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">07780272<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38eb w72 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Drummond Properties<span class=\"_ _1\"></span> Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38eb w58 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">09806622<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ec w72 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL <span class=\"ls1d8\">Eden Walk 2 Limite<span class=\"_ _1\"></span>d</span><span class=\"ls1d8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y38ec w58 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls275 ws1\">05270219<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ed w72 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL Eden Walk Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ed w58 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1dc ws1\">10620935<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ee w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">BL Euston Tower Hol<span class=\"_ _1\"></span>ding Company Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ee w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">11612398<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ef w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Falkirk Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ef w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls275 ws1\">04295313<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f0 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">BL Finsbury Squar<span class=\"_ _1\"></span>e Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f0 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">13797223<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f1 w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Goodman (LP) Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f1 w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls275 ws1\">05056902<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f2 w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL HB Investments Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f2 w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">10461500<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f3 w72 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">BL HC <span class=\"ls1eb\">PH LLP</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y38f3 w58 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls204 ws1\">OC317199<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38f4 w21c h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">BL High Street <span class=\"_ _1\"></span>And Shopping Centres<span class=\"_ _216\"> </span></div></td><td class=\"c x223 y38f5 w58 h102\"><div class=\"t m0 x0 hfb y2cef ff3f fsba fc4 sc0 ls275 ws1\">06002148<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38f6 w21d h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls28c ws1\">Holding<span class=\"ls1\"> <span class=\"ls1d9\">Company Limit<span class=\"_ _1\"></span>ed<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td class=\"c x1f9 y38f7 w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Holdings 2010 <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f7 w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls275 ws1\">07353966<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f8 w72 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Innovation Pr<span class=\"_ _1\"></span>operties 2 Limited<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f8 w58 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls275 ws1\">05070554<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f9 w72 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Innovation Pr<span class=\"_ _1\"></span>operties Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f9 w58 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">12293278<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38fa w72 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Intermediate <span class=\"_ _1\"></span>Holding Company 2 <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y38fa w58 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">12462158<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38fb w21e h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Leisure And I<span class=\"_ _1\"></span>ndustrial Holding<span class=\"_ _216\"> </span></div></td><td class=\"c x223 y38fc w58 h102\"><div class=\"t m0 x0 hfb y29a8 ff3f fsba fc4 sc0 ls275 ws1\">05995024<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38fd w212 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d9 ws1\">Company<span class=\"ls1\"> <span class=\"ls1dd\">Limited<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td class=\"c x1f9 y38fe w72 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Merthyr Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38fe w58 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls275 ws1\">06663608<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ff w72 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Middlesbrough L<span class=\"_ _1\"></span>imited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ff w58 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls275 ws1\">03537439<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3900 w72 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Office (Non<span class=\"ls1\">-<span class=\"ls1d9\">City</span></span><span class=\"ls1\"><span class=\"ls1d9\"><span class=\"_ _1\"></span>) Holding Company Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x223 y3900 w58 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">06002133<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3901 w72 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Office Holdi<span class=\"_ _1\"></span>ng Company Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3901 w58 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">05995028<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3902 w72 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Office <span class=\"ls1eb\">Propert<span class=\"_ _1\"></span>ies 1 Limited</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y3902 w58 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">13514407<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3903 w72 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL Office Proper<span class=\"_ _1\"></span>ties 3 Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3903 w58 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1dc ws1\">14103029<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3904 w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">BL Osnaburgh St Resi<span class=\"_ _1\"></span>dential Ltd<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3904 w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls275 ws1\">06874523<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3905 w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Piccadill<span class=\"_ _1\"></span>y Residential Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3905 w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls275 ws1\">08707494<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3906 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">BL Rave<span class=\"ls1\">n<span class=\"ls1dd\">head Limited</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x223 y3906 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls275 ws1\">02534666<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3907 w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Residual Hol<span class=\"_ _1\"></span>ding Company Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3907 w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls275 ws1\">05995030<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"gs4ae\"><table class=\"s w20e h19b\" id=\"_a2b2dc64-4101-4878-9058-15f905964a0c\"><tr><td></td><td class=\"c x3f1 y389d w20f h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Company<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x3f2 y389e w72 h106\"><div class=\"t m0 x1c3 hf9 y294e ff3d fsb9 fc4 sc0 ls215 ws1\">Entity Name<span class=\"ls1\"> </span></div></td><td class=\"c x3f1 y389f w210 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Number<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a0 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail <span class=\"ls28c\">Hold<span class=\"_ _1\"></span>ing Company Limited</span><span class=\"ls28c\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3f3 y38a0 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">05995033<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a1 w72 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Indi<span class=\"_ _1\"></span>rect Investments Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a1 w55 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">12288466<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a2 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Inve<span class=\"_ _1\"></span>stment Holdings Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a2 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">11612693<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a3 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Prope<span class=\"_ _1\"></span>rties 3 Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a3 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">04869976<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a4 w72 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Prope<span class=\"_ _1\"></span>rties Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a4 w55 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">13215893<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a5 w72 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Prope<span class=\"_ _1\"></span>rty Holdings Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a5 w55 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">13215871<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38a6 w211 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Warehous<span class=\"_ _1\"></span>ing Holding<span class=\"_ _216\"> </span></div></td><td class=\"c x3f3 y38a7 w55 h102\"><div class=\"t m0 x1c3 hfb y2c41 ff3f fsba fc4 sc0 ls275 ws1\">06002154<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38a8 w212 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d9 ws1\">Company<span class=\"ls1\"> <span class=\"ls1dd\">Limited<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td class=\"c x3f2 y38a9 w72 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">BL Shoreditch Devel<span class=\"_ _1\"></span>opment Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a9 w55 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls275 ws1\">05326670<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38aa w72 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Shoreditch No.<span class=\"_ _1\"></span>2 Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38aa w55 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">08570558<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ab w72 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls1d6 ws1\">BL South Camb Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ab w55 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">07555233<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ac w72 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Thanet Limited<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ac w55 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls1dc ws1\">13843760<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ad w72 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Triton Buil<span class=\"_ _1\"></span>ding Residential <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ad w55 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls275 ws1\">07508029<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ae w72 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls1d6 ws1\">BL <span class=\"ls1e0\">Tunbridge Wells Limit<span class=\"_ _1\"></span>ed</span><span class=\"ls1e0\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3f3 y38ae w55 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls1dc ws1\">11184483<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38af w72 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1d6 ws1\">BL <span class=\"ls1e0\">Turbary <span class=\"ls1dd\">Limited</span></span><span class=\"ls1e0\"><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x3f3 y38af w55 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1dc ws1\">16695801<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b0 w72 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Vangarde Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b0 w55 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">05270196<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b1 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Warwickshire Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b1 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">04323341<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b2 w72 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls1d6 ws1\">BL West End Investment<span class=\"_ _1\"></span>s Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b2 w55 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">07793483<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b3 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Whiteley Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b3 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">11253224<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b4 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Whiteley Retai<span class=\"_ _1\"></span>l Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b4 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">11254281<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b5 w72 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">BL Woolwich <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3f3 y38b5 w55 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">11079254<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b6 w72 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls1d6 ws1\">BLD Property Holdi<span class=\"_ _1\"></span>ngs Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b6 w55 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">00823907<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b7 w72 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls1d6 ws1\">BLMH Centre Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b7 w55 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">03918066<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b8 w72 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls1d6 ws1\">BLSSP (PHC 5) Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b8 w55 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">04104061<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b9 w72 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls1d6 ws1\">Boldswitch Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b9 w55 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls275 ws1\">02307096<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ba w72 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>(Joint Ventures) Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ba w55 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls275 ws1\">04682740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38bb w72 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Fund Management Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38bb w55 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls275 ws1\">04450726<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38bc w72 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>In Town Retail Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38bc w55 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">03325066<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38bd w72 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Industrial Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38bd w55 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">00643370<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38be w72 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Offices (Non<span class=\"ls1\">-<span class=\"ls1d9\">City</span></span><span class=\"ls1\"><span class=\"ls1d9\">) Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x3f3 y38be w55 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">02740378<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38bf w72 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Offices (Non<span class=\"ls1\">-<span class=\"ls1d9\">City</span></span><span class=\"ls1\"><span class=\"ls1d9\">) No.<span class=\"_ _1\"></span>2 Limited<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x3f3 y38bf w55 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls275 ws1\">06849369<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38c0 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Property Advisers Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c0 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">02793828<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38c1 w213 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">British <span class=\"ls1dd\">Land Superstores<span class=\"_ _1\"></span> (Non Securitised)<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3f3 y38c2 w55 h102\"><div class=\"t m0 x1c3 hfb y3037 ff3f fsba fc4 sc0 ls275 ws1\">06514283<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38c3 w214 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1e1 ws1\">Number 2 Limit<span class=\"_ _1\"></span>ed<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td class=\"c x3f2 y38c4 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">Broadgate Adjoini<span class=\"_ _1\"></span>ng Properties Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c4 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls275 ws1\">07580963<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38c5 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1d9 ws1\">Capitol Presto<span class=\"_ _1\"></span>n Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c5 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">06120395<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38c6 w72 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1d9 ws1\">Cavendish Geared Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c6 w55 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls275 ws1\">02779045<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38c7 w215 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d9 ws1\">Clarges Estate <span class=\"_ _1\"></span>Property Management Co Li<span class=\"_ _1\"></span>mited<span class=\"_ _216\"> </span></div><div class=\"t m0 x3f4 hfb y3479 ff3f fsba fc4 sc0 ls275 ws1\">08418875<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td class=\"c x3f2 y38c8 w72 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls20a ws1\">Drake Circus<span class=\"_ _1\"></span> Centre <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3f3 y38c8 w55 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">09069182<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38c9 w72 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls20a ws1\">Drake Circus<span class=\"_ _1\"></span> Leisure Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c9 w55 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">09190208<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38ca w216 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d8 ws1\">Eden Walk Shopping Centre <span class=\"_ _1\"></span>General<span class=\"_ _216\"> </span></div></td><td class=\"c x3f3 y38cb w55 h102\"><div class=\"t m0 x1c3 hfb y2c3e ff3f fsba fc4 sc0 ls275 ws1\">06421966<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38cc w217 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">Partner<span class=\"ls1\"> <span class=\"ls1dd\">Limited<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td class=\"c x3f2 y38cd w72 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">Elk Mill Oldham Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38cd w55 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">10461879<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ce w72 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls28c ws1\">Hempel Holdings <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ce w55 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">05341380<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38cf w72 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls28c ws1\">Hempel Hotels <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38cf w55 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls275 ws1\">02728455<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38d0 w72 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls1d5 ws1\">Industrial Real Es<span class=\"_ _0\"></span>tate Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38d0 w55 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls275 ws1\">00503636<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38d1 w72 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">Lonebridge UK Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38d1 w55 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls275 ws1\">03292034<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38d2 w72 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">Longford Street Residential Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38d2 w55 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">08700158<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"gs33b\"><table class=\"s w222 h19f\" id=\"_e3970f87-0fb2-418c-bf0c-5a2b9b8c54d3\"><tr><td></td><td class=\"c x3f5 y3911 w219 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Company<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3912 w72 h119\"><div class=\"t m0 x0 hf9 y296e ff3d fsb9 fc4 sc0 ls215 ws1\">Entity Name<span class=\"ls1\"> </span></div></td><td class=\"c x3f5 y3913 w21a h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Number<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3914 w72 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls20b ws1\">Mayflower <span class=\"_ _1\"></span>Retail Park<span class=\"_ _1\"></span> <span class=\"ls1d6\">Basildon Limited</span><span class=\"ls1d6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y3914 w58 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">07566738<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3915 w72 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1e1 ws1\">Nugent Shopping<span class=\"_ _1\"></span> Park Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3915 w58 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls275 ws1\">06153558<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3916 w72 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls204 ws1\">Orbital <span class=\"_ _1\"></span>Shopping Park <span class=\"_ _1\"></span>Swindon Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3916 w58 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls275 ws1\">05489767<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3917 w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls204 ws1\">Osnaburgh St<span class=\"_ _1\"></span>reet Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3917 w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls275 ws1\">05886735<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3918 w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington 3KS Investment<span class=\"_ _1\"></span>s Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3918 w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">13843646<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3919 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1eb ws1\">Paddington 5KS Holdings <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3919 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">13843365<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y380b w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington Box <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y380b w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">14782912<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y380c w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1eb ws1\">Pillar Denton Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y380c w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls275 ws1\">02982293<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3608 w72 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1eb ws1\">Pillar Property <span class=\"_ _1\"></span>Group Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3608 w58 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls275 ws1\">02570618<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"gs4b0\"><table class=\"s w221 h19f\" id=\"_5a67699b-f0d6-4af3-b6a7-153f5519b0b7\"><tr><td></td><td class=\"c x3f1 y3911 w219 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Company<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x3f2 y3912 w72 h119\"><div class=\"t m0 x1c3 hf9 y296e ff3d fsb9 fc4 sc0 ls215 ws1\">Entity Name<span class=\"ls1\"> </span></div></td><td class=\"c x3f1 y3913 w210 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Number<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x3f2 y3914 w72 hfe\"><div class=\"t m0 x1c3 hfb y28d5 ff3f fsba fc4 sc0 ls1eb ws1\">Plymouth Retail Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3914 w55 hfe\"><div class=\"t m0 x1c3 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">10368557<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3915 w72 hfd\"><div class=\"t m0 x1c3 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">Regent's Place <span class=\"_ _1\"></span>Holding 2 Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3915 w55 hfd\"><div class=\"t m0 x1c3 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">11864307<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3916 w72 hfe\"><div class=\"t m0 x1c3 hfb y28fc ff3f fsba fc4 sc0 ls1ed ws1\">Solartron Retail Park <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3916 w55 hfe\"><div class=\"t m0 x1c3 hfb y28fc ff3f fsba fc4 sc0 ls1dc ws1\">13060834<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3917 w72 hfd\"><div class=\"t m0 x1c3 hfb y292f ff3f fsba fc4 sc0 ls1ed ws1\">St. Stephens Shopping Centre Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3917 w55 hfd\"><div class=\"t m0 x1c3 hfb y292f ff3f fsba fc4 sc0 ls275 ws1\">04931198<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3918 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f3 ff3f fsba fc4 sc0 ls1ed ws1\">Storey Offices Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3918 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">11417071<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3919 w72 hfd\"><div class=\"t m0 x1c3 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">TBL Properties Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3919 w55 hfd\"><div class=\"t m0 x1c3 hfb y297c ff3f fsba fc4 sc0 ls275 ws1\">03863190<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y380b w72 hfe\"><div class=\"t m0 x1c3 hfb y2967 ff3f fsba fc4 sc0 ls1e0 ws1\">Tollgate Centre Colches<span class=\"_ _1\"></span>ter Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y380b w55 hfe\"><div class=\"t m0 x1c3 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">10461649<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y380c w72 hfd\"><div class=\"t m0 x1c3 hfb y28f7 ff3f fsba fc4 sc0 ls1e0 ws1\">Topside Street Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y380c w55 hfd\"><div class=\"t m0 x1c3 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">11253428<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3608 w72 hfe\"><div class=\"t m0 x1c3 hfb y2912 ff3f fsba fc4 sc0 ls1e2 ws1\">Union Property<span class=\"_ _1\"></span> Corporation Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3608 w55 hfe\"><div class=\"t m0 x1c3 hfb y2912 ff3f fsba fc4 sc0 ls275 ws1\">00664862<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs4b1\">The following part<span class=\"_ _1\"></span>nerships are exempt fr<span class=\"_ _1\"></span>om the <span class=\"ls222\">requirements<span class=\"ls1\"> </span>to<span class=\"_ _0\"></span> prepare, publish and have au<span class=\"_ _0\"></span>dited individual accounts </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs4b2\">by virtue of <span class=\"_ _1\"></span>regulation 7 of The<span class=\"_ _1\"></span> Partnerships (Accounts<span class=\"_ _1\"></span>) Regulations 2008. The <span class=\"_ _1\"></span>results of thes<span class=\"_ _1\"></span>e partnerships<span class=\"ls1\"> <span class=\"ls225\">are </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs4b3\">consolidat<span class=\"ls223\">ed within these Group </span>consoli<span class=\"_ _1\"></span>dated financial statements<span class=\"ls1\">. </span></div><div class=\"gs4b4\"><table class=\"s w21f h19d\" id=\"_9f7e43a4-1f9a-4b6f-be72-0cc539c2eff7\"><tr><td class=\"c x1f9 y3908 w73 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e1 ws1\">Name<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3909 w73 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1d6 ws1\">BL Fixed Uplif<span class=\"_ _1\"></span>t Fund Limited Part<span class=\"_ _1\"></span>nership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y390a w73 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1d6 ws1\">BL <span class=\"ls1dd\">Lancaster Limited Partnershi<span class=\"_ _1\"></span>p</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y390b w73 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Shoreditch Li<span class=\"_ _1\"></span>mited Partnership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y390c w73 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1d8 ws1\">Eden Walk Shopping Centre <span class=\"_ _1\"></span>Limited <span class=\"ls1eb\">Partnership</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y390d w73 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls28c ws1\">Hereford Shoppi<span class=\"_ _1\"></span>ng Centre Limit<span class=\"_ _1\"></span>ed Partnership<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"gs4b5\"><table class=\"s w220 h19e\" id=\"_c3a9e324-c6be-42fc-b760-aee3dbacc69a\"><tr><td class=\"c x3f2 y390e w74 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls1e1 ws1\">Name<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y390f w74 hfe\"><div class=\"t m0 x1c3 hfb y28ed ff3f fsba fc4 sc0 ls1eb ws1\">Paddington 5KS Property <span class=\"_ _1\"></span>Limited Partnership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3910 w74 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1eb ws1\">Power Court Luton Limi<span class=\"_ _1\"></span>ted Partnership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3542 w74 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">The Aldgate Place Limit<span class=\"_ _1\"></span>ed Partnership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3543 w74 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">The Hercules Property Li<span class=\"_ _1\"></span>mited Partnership<span class=\"ls1\"> </span></div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-457": {
   "value": "11<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls21d\">Joint ventures </span></span>Summary movement for the year of t<span class=\"_ _0\"></span>he investments in joint <span class=\"_ _0\"></span>ventures <table class=\"s w156 h16f\" id=\"_a6db86c7-9c44-4c8d-a25c-3e5369826fe7\"><tr><td></td><td class=\"c x29d y3652 w157 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x2e9 y3652 w158 h14c\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">Loans</div><div class=\"t m0 x2e8 hfc y3653 ff41 fsbb fc4 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y3652 w8a h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f6 y3654 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y3654 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3654 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3655 w3d hfd\"><div class=\"t m0 x0 hfb y2be8 ff42 fsba fc4 sc0 ls1e1 ws1\">At 1 April<span class=\"_ _1\"></span> 202<span class=\"ls1\">5</span><span class=\"ls1\"> </span><span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3655 w24 hfd\"><div class=\"t m0 x1b0 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">1,334<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3655 w24 hfd\"><div class=\"t m0 x196 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">1,128<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3655 w24 hfd\"><div class=\"t m0 x1a5 hfb y2be8 ff42 fsba fc11 sc0 ls1d7 ws1\">2,462<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3656 w3d hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1e1 ws1\">Additions<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3656 w24 hfe\"><div class=\"t m0 x1a2 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3656 w24 hfe\"><div class=\"t m0 x19a hfb y28fc ff3f fsba fc4 sc0 ls1ea ws1\">220<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3656 w24 hfe\"><div class=\"t m0 x19a hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">278<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3657 w3d hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls20a ws1\">Disposals<span class=\"ls1\"> <span class=\"ls1e6\">and repayments</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3657 w24 hfd\"><div class=\"t m0 x192 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3657 w24 hfd\"><div class=\"t m0 x1c1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1ea\">238</span>) </div></td><td class=\"c x1fd y3657 w24 hfd\"><div class=\"t m0 x19b hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1d7\">251</span>) </div></td></tr><tr><td class=\"c x1f9 y3658 w3d hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1ed ws1\">Share of <span class=\"ls1eb\">profit<span class=\"ls1\"> <span class=\"ls1e6\">after t<span class=\"_ _1\"></span>axation<span class=\"_ _216\"> </span></span></span></span></div><div class=\"t m0 x11c hff y2db7 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x121 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1e6 y3658 w24 hfe\"><div class=\"t m0 x19e hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">187<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3658 w24 hfe\"><div class=\"t m0 x1be hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x1fd y3658 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">188<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3659 w3d hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls20a ws1\">Distributi<span class=\"_ _1\"></span>ons and dividends<span class=\"_ _1\"></span>:<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y365a w3d hfe\"><div class=\"t m0 x1b8 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1d9\">Capital</span> </div></td><td class=\"c x1e6 y365a w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y365a w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y365a w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y365b w3d hfd\"><div class=\"t m0 x1b8 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 <span class=\"ls1d6\">Revenue</span> </div></td><td class=\"c x1e6 y365b w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(58)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y365b w24 hfd\"><div class=\"t m0 x1a4 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y365b w24 hfd\"><div class=\"t m0 x19e hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(6<span class=\"ls1\">1</span><span class=\"ls1\">)</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y365c w3d hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls28c ws1\">Hedging and exc<span class=\"_ _1\"></span>hange movements<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y365c w24 hfe\"><div class=\"t m0 x1a4 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y365c w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y365c w24 hfe\"><div class=\"t m0 x1a4 hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(5)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y365d w3d hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1e1 ws1\">At 31 March <span class=\"_ _1\"></span>202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y365d w24 hfe\"><div class=\"t m0 x1b0 hfb y2914 ff3f fsba fc4 sc0 ls1dc ws1\">1,503<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y365d w24 hfe\"><div class=\"t m0 x1c1 hfb y2914 ff3f fsba fc4 sc0 ls1dc ws1\">1,108<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y365d w24 hfe\"><div class=\"t m0 x1a6 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">2,611<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls200\">Loan additions of \u00a3220m in the current<span class=\"_ _1\"></span> year represent additional shareholder l<span class=\"_ _1\"></span>oans to the following joint ventures:<span class=\"_ _1\"></span> \u00a3178m Bro<span class=\"ls1f4\">adgate,<span class=\"_ _216\"> </span></span></span></span>\u00a332m One Triton Square, \u00a37m <span class=\"ls28d\">West<span class=\"_ _1\"></span> One <span class=\"ls1f4\">and \u00a3<span class=\"ls1\">3<span class=\"ls1f5\">m Other <span class=\"_ _1\"></span>joint ventur<span class=\"_ _1\"></span>es<span class=\"ls1\">. <span class=\"ls200\">Loan disposals of \u00a3238m <span class=\"ls1f9\">in the current year <span class=\"ls1f3\">represent<span class=\"_ _216\"> </span></span></span></span></span></span></span></span></span>shareholder loan repayments from the following joint ventures:<span class=\"ls1\"> <span class=\"ls1fb\">\u00a3205m Broadgate, \u00a315m <span class=\"ls28d\">West On<span class=\"_ _1\"></span>e<span class=\"ls1f7\">, \u00a315m Other jo<span class=\"_ _0\"></span>int ventures and<span class=\"_ _216\"> </span></span></span></span></span>\u00a33m BL West End.<span class=\"_ _216\"> </span>2. The share of profit after <span class=\"_ _1\"></span>taxation includes equity accounted profits of \u00a3196m (2024/25: \u00a372m prof<span class=\"_ _1\"></span>its) and a debit relating to the<span class=\"_ _216\"> </span>movement of <span class=\"_ _1\"></span>provision fo<span class=\"_ _1\"></span>r impairment <span class=\"_ _1\"></span>of equity in<span class=\"_ _1\"></span>vestments and <span class=\"_ _1\"></span>loans of \u00a38m <span class=\"_ _1\"></span>(2024/25: \u00a31<span class=\"_ _1\"></span>8m credit exc<span class=\"_ _1\"></span>luding the Me<span class=\"_ _1\"></span>adowhall<span class=\"_ _216\"> </span>Shopping Centre joint venture dis<span class=\"_ _1\"></span>posal). The Group\u2019s net closing invest<span class=\"_ _1\"></span>ments in and <span class=\"ls1f9\">loans to joint ventu<span class=\"_ _0\"></span>res, the associated clos<span class=\"_ _0\"></span>ing<span class=\"_ _216\"> </span></span>provision for impairment and <span class=\"_ _1\"></span>movement in provision for impairment i<span class=\"_ _1\"></span>n the year are included in Note <span class=\"_ _1\"></span>22.<span class=\"_ _216\"> </span>Meadowhall<span class=\"_ _1\"></span> Shopping C<span class=\"_ _1\"></span>entre joi<span class=\"_ _1\"></span>nt venture<span class=\"_ _1\"></span> disposal<span class=\"_ _216\"> </span>In the prior ye<span class=\"_ _0\"></span>ar, o<span class=\"ls221\">n 12 July 2024, the Gr<span class=\"_ _1\"></span>oup <span class=\"ls226\">completed the disposal of its 50% shareholding i<span class=\"_ _1\"></span>n the Meadowhall<span class=\"_ _216\"> </span></span></span>Shopping Centre joi<span class=\"_ _1\"></span>nt venture to the j<span class=\"_ _1\"></span>oint venture partner,<span class=\"_ _1\"></span> Norges Bank Investment Management, <span class=\"_ _1\"></span>for a total<span class=\"_ _216\"> </span>consideration of \u00a3158m. The carrying amount of t<span class=\"_ _1\"></span>he investment in the joint venture o<span class=\"_ _1\"></span><span class=\"ls221\">n the disposal date was \u00a3156m,<span class=\"_ _216\"> </span></span>resulting in a loss on disposal after tran<span class=\"_ _0\"></span>saction costs of \u00a31m which<span class=\"_ _0\"></span> has been accounted fo<span class=\"_ _0\"></span>r within the Loss on disposal<span class=\"_ _216\"> </span>of<span class=\"ls1\"> <span class=\"ls1fc\">investmen<span class=\"_ _0\"></span>t properties<span class=\"_ _0\"></span>, joint venture<span class=\"_ _0\"></span>s and revalu<span class=\"_ _0\"></span>ation of inves<span class=\"_ _0\"></span>tments line w<span class=\"_ _0\"></span>ithin the Cap<span class=\"_ _0\"></span>ital and othe<span class=\"_ _0\"></span>r</span> <span class=\"ls226\">column of the<span class=\"_ _216\"> </span></span></span>consolidated income statement.<span class=\"_ _216\"> </span>2 Finsbury Avenue joint <span class=\"_ _1\"></span>venture transaction<span class=\"_ _216\"> </span>In the prior ye<span class=\"_ _0\"></span>ar, o<span class=\"ls221\">n 24 January 2025, Broadgate REIT <span class=\"_ _1\"></span>L<span class=\"ls1fc\">imited<span class=\"ls1\"> <span class=\"_ _0\"></span><span class=\"ls243\">(\u2018Broadgate\u2019) entered into a new 50:50<span class=\"_ _0\"></span> joint venture<span class=\"_ _216\"> </span></span></span></span></span>arrangement with Modon Holding PSC in relati<span class=\"_ _1\"></span>on to a<span class=\"ls1\"> <span class=\"ls236\">wholly</span>-<span class=\"ls220\">owned development proper<span class=\"_ _1\"></span>ty, 2 Finsbury Avenue.<span class=\"_ _1\"></span> All of<span class=\"_ _216\"> </span></span></span>the following figures are at 100<span class=\"_ _0\"></span>% from the perspective of th<span class=\"_ _0\"></span>e new 2 Finsbury Aven<span class=\"_ _0\"></span>ue joint venture. The transaction<span class=\"_ _0\"></span> value<span class=\"_ _216\"> </span>of the development pr<span class=\"_ _1\"></span>operty transferred by <span class=\"_ _1\"></span>Broadgate on the formation <span class=\"_ _1\"></span>of <span class=\"ls222\">the new joint venture<span class=\"_ _0\"></span> was \u00a3401m. This<span class=\"_ _216\"> </span></span>created a total gain on disposal<span class=\"_ _1\"></span> of \u00a334m of which \u00a317m related to Modon Holding<span class=\"ls1\"> <span class=\"ls234\">PSC<span class=\"ls235\">\u2019s interest in the<span class=\"_ _0\"></span> joint venture<span class=\"_ _0\"></span> and<span class=\"_ _216\"> </span></span></span></span>was real<span class=\"_ _1\"></span>ised on t<span class=\"_ _1\"></span>he transac<span class=\"_ _1\"></span>tion date.<span class=\"_ _1\"></span> Broadgate<span class=\"_ _1\"></span> recognised<span class=\"_ _1\"></span> a gain <span class=\"_ _1\"></span>on disposal<span class=\"_ _1\"></span> of \u00a310m <span class=\"_ _1\"></span>net of t<span class=\"_ _1\"></span>rans<span class=\"ls225\">action costs <span class=\"_ _1\"></span>of \u00a37m<span class=\"_ _216\"> </span></span>(<span class=\"ls232\">British Land <span class=\"_ _1\"></span><span class=\"ls20d\">Group share o<span class=\"_ _1\"></span>f gain on d<span class=\"_ _1\"></span>isposal: \u00a35m)<span class=\"_ _1\"></span>.<span class=\"_ _216\"> </span></span></span>For the year ended <span class=\"_ _1\"></span>31 March 2025, Broadgate <span class=\"_ _1\"></span>recognised a total <span class=\"_ _1\"></span>share of the join<span class=\"_ _1\"></span>t venture profit <span class=\"_ _1\"></span>of \u00a322m (<span class=\"ls232\">British La<span class=\"_ _1\"></span>nd<span class=\"_ _216\"> </span></span>Group share<span class=\"_ _1\"></span>: \u00a311m). T<span class=\"_ _1\"></span>his included<span class=\"_ _1\"></span> the remaini<span class=\"_ _1\"></span>ng \u00a317m gain <span class=\"_ _1\"></span>on dis<span class=\"ls234\">posal of <span class=\"_ _1\"></span>property into the <span class=\"_ _1\"></span>new joint venture whi<span class=\"_ _1\"></span>ch was<span class=\"_ _216\"> </span></span>unrealised at the t<span class=\"_ _1\"></span>ransaction<span class=\"ls1\"> <span class=\"ls234\">date<span class=\"ls235\">. Between 2<span class=\"_ _0\"></span>4 January <span class=\"_ _0\"></span>2025 and 3<span class=\"_ _0\"></span>1 March 20<span class=\"_ _0\"></span>25, Broadg<span class=\"_ _0\"></span>ate provide<span class=\"_ _0\"></span>d further loa<span class=\"_ _0\"></span>n<span class=\"_ _216\"> </span></span></span></span>funding of \u00a326m<span class=\"_ _0\"></span> into the joint venture and<span class=\"_ _0\"></span> recognised an inve<span class=\"_ _0\"></span>stment <span class=\"ls1fc\">in joint ven<span class=\"_ _0\"></span>tures <span class=\"ls220\">of \u00a3<span class=\"ls268\">232m <span class=\"ls225\">as at 31 March 2025<span class=\"_ _216\"> </span></span></span></span></span>(<span class=\"ls232\">British Land <span class=\"_ _1\"></span><span class=\"ls20d\">Group share: <span class=\"_ _1\"></span>\u00a3116m). Bro<span class=\"_ _1\"></span>adgate receiv<span class=\"_ _1\"></span>ed \u00a3190m of c<span class=\"_ _1\"></span>ash considerat<span class=\"_ _1\"></span>ion in re<span class=\"_ _1\"></span>lation to <span class=\"_ _1\"></span>the sale of<span class=\"_ _1\"></span> the<span class=\"_ _216\"> </span></span></span>property to the <span class=\"_ _1\"></span>joint venture (net<span class=\"_ _1\"></span> of transaction c<span class=\"_ _1\"></span>osts of \u00a37m) and used \u00a393m <span class=\"_ _1\"></span>of this to repay <span class=\"_ _1\"></span><span class=\"ls226\">capital to the<span class=\"ls1\"> <span class=\"ls232\">British<span class=\"_ _216\"> </span></span></span></span>Land<span class=\"ls1\"> <span class=\"ls20d\">Group.<span class=\"_ _216\"> </span></span></span>The summarised<span class=\"ls1\"> <span class=\"ls1fc\">income state<span class=\"_ _0\"></span>ments and<span class=\"_ _0\"></span> balance she<span class=\"_ _0\"></span>ets below a<span class=\"_ _0\"></span>nd on the follo<span class=\"_ _0\"></span>wing page<span class=\"_ _0\"></span> show 100%<span class=\"_ _0\"></span> of the result<span class=\"_ _0\"></span>s, </span></span>assets and liabilit<span class=\"_ _1\"></span>ies of joint ventures<span class=\"ls1\"> <span class=\"ls222\">to the nearest million.</span> </span>Joint ventures\u2019 summary financial statements <span class=\"ls23f\">as at<span class=\"ls1\"> <span class=\"ls282\">31 <span class=\"_ _0\"></span>March 202</span>6 </span></span><table class=\"s w159 h170\" id=\"_a9050941-5d1d-42e3-82f0-5600fc7c0bf7\"><tr><td class=\"c x1f9 y365e w4d hfa\"><div class=\"t m0 x0 h103 y2960 ff46 fsbd fc4 sc0 ls1f0 ws1\">See page <span class=\"ls1fd\">158 <span class=\"ls1f8\">for additional information on each joint ve<span class=\"_ _0\"></span>nture</span></span><span class=\"ls1fd\"><span class=\"ls1f8\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2ea y365e w41 hfa\"><div class=\"t m0 xe7 hf9 y2ddc ff3d fsb9 fc4 sc0 ls1 ws1\"> </div><div class=\"t m0 xe7 hf9 y2cbf ff3d fsb9 fc4 sc0 ls1 ws1\"> </div><div class=\"t m0 x1b0 hf9 y28e1 ff3d fsb9 fc4 sc0 ls216 ws1\">Broadgate<span class=\"ls1\"> </span></div></td><td class=\"c x201 y365e w4e hfa\"><div class=\"t m0 x1a6 hf9 y2950 ff3d fsb9 fc4 sc0 ls28e ws1\">West One<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y365e w41 hfa\"><div class=\"t m0 x1b5 hf9 y28e1 ff3d fsb9 fc4 sc0 ls216 ws1\">BL West End<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y365f w4d hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls20a ws1\">Group share<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y365f w41 hfe\"><div class=\"t m0 x1be hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x201 y365f w4e hfe\"><div class=\"t m0 x13a hfb y28fc ff3f fsba fc4 sc0 ls1ea ws1\">25%<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y365f w41 hfe\"><div class=\"t m0 x13a hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3660 w4d hfe\"><div class=\"t m0 x0 hfb y28f5 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised income statements<span class=\"ls1\"> <span class=\"ls206\">for the year ended 31 March 202<span class=\"_ _0\"></span>6</span></span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3661 w4d hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1d6 ws1\">Revenue<span class=\"_ _216\"> </span></div><div class=\"t m0 x19e hff y2de1 ff44 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x1a2 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y3661 w41 hfe\"><div class=\"t m0 x112 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">2<span class=\"ls208\">75</span> </div></td><td class=\"c x201 y3661 w4e hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x2eb y3661 w41 hfe\"><div class=\"t m0 x166 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">27 </div></td></tr><tr><td class=\"c x1f9 y3662 w4d hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1d9 ws1\">Costs<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3662 w41 hfd\"><div class=\"t m0 x112 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">93</span>) </div></td><td class=\"c x201 y3662 w4e hfd\"><div class=\"t m0 x14 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">(2) </div></td><td class=\"c x2eb y3662 w41 hfd\"><div class=\"t m0 x166 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">(9) </div></td></tr><tr><td></td><td class=\"c x2ea y3663 w41 hfe\"><div class=\"t m0 xd0 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">182<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3663 w4e hfe\"><div class=\"t m0 x12e hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x2eb y3663 w41 hfe\"><div class=\"t m0 x125 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">18 </div></td></tr><tr><td class=\"c x1f9 y3664 w4d hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1e1 ws1\">Administrati<span class=\"_ _1\"></span>ve expenses<span class=\"fc13 ls1\"> </span></div></td><td class=\"c x2ea y3664 w41 hfd\"><div class=\"t m0 x14 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3664 w4e hfd\"><div class=\"t m0 x12e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3664 w41 hfd\"><div class=\"t m0 x12e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3665 w4d hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1e1 ws1\">Net <span class=\"ls1e5\">interest payable</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y3665 w41 hfe\"><div class=\"t m0 x1c4 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(77)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3665 w4e hfe\"><div class=\"t m0 x12e hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3665 w41 hfe\"><div class=\"t m0 x166 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3666 w4d hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying Pr<span class=\"_ _1\"></span>ofit <span class=\"ls1\">(L<span class=\"ls1e0\">oss</span><span class=\"ls1e0\">)</span> </span></div></td><td class=\"c x2ea y3666 w41 hfd\"><div class=\"t m0 x112 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">103<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3666 w4e hfd\"><div class=\"t m0 x12e hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x2eb y3666 w41 hfd\"><div class=\"t m0 x14 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">12 </div></td></tr><tr><td class=\"c x1f9 y3667 w4d hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">S<span class=\"ls1dd\">hare</span> <span class=\"ls1e0\">of joint venture</span> <span class=\"ls1ee\">result</span> </div></td><td class=\"c x2ea y3667 w41 hfe\"><div class=\"t m0 x166 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">24 </div></td><td class=\"c x201 y3667 w4e hfe\"><div class=\"t m0 x12e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3667 w41 hfe\"><div class=\"t m0 x12e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3668 w4d hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e1 ws1\">Net movement<span class=\"ls1e3\">s on property<span class=\"_ _216\"> </span></span></div><div class=\"t m0 xa5 hff y2d9a ff44 fsbc fc4 sc0 ls1 ws1\">4</div><div class=\"t m0 x121 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y3668 w41 hfd\"><div class=\"t m0 x112 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">184<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3668 w4e hfd\"><div class=\"t m0 x14 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3668 w41 hfd\"><div class=\"t m0 x7c hfb y292f ff3f fsba fc4 sc0 ls1d8 ws1\">45<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3669 w4d hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing <span class=\"ls1e5\">income (<span class=\"ls1e6\">charges<span class=\"ls1\">)  </span></span></span></div></td><td class=\"c x2ea y3669 w41 hfe\"><div class=\"t m0 x85 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3669 w4e hfe\"><div class=\"t m0 x12e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3669 w41 hfe\"><div class=\"t m0 x12e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y366a w4d hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">Loss<span class=\"ls1\"> <span class=\"ls1e0\">on disposal of <span class=\"ls1eb\">propert<span class=\"_ _1\"></span>ies</span></span></span><span class=\"ls1\"><span class=\"ls1e0\"><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></span></span></div></td><td class=\"c x2ea y366a w41 hfd\"><div class=\"t m0 x14 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y366a w4e hfd\"><div class=\"t m0 x12e hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y366a w41 hfd\"><div class=\"t m0 x12e hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y366b w4d hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1e8\">rofit</span> <span class=\"ls1da\">(loss)</span> <span class=\"ls1d8\">before taxation</span> </div></td><td class=\"c x2ea y366b w41 hfd\"><div class=\"t m0 x6d hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">3<span class=\"ls1d7\">20</span> </div></td><td class=\"c x201 y366b w4e hfd\"><div class=\"t m0 x85 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y366b w41 hfd\"><div class=\"t m0 x7c hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">57 </div></td></tr><tr><td class=\"c x1f9 y366c w4d hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">Taxation<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y366c w41 hfe\"><div class=\"t m0 x12e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y366c w4e hfe\"><div class=\"t m0 x12e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y366c w41 hfe\"><div class=\"t m0 x109 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y366d w4d hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1e8\">rofit</span> <span class=\"ls1da\">(loss)</span> <span class=\"ls208\">after taxation</span> </div></td><td class=\"c x2ea y366d w41 hfe\"><div class=\"t m0 x6d hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">3<span class=\"ls1d7\">20</span> </div></td><td class=\"c x201 y366d w4e hfe\"><div class=\"t m0 x85 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y366d w41 hfe\"><div class=\"t m0 x7c hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">56 </div></td></tr><tr><td class=\"c x1f9 y366e w4d hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls204 ws1\">Other compr<span class=\"_ _1\"></span>ehensive <span class=\"ls208\">expense</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y366e w41 hfd\"><div class=\"t m0 xd0 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dc\">10</span>) </div></td><td class=\"c x201 y366e w4e hfd\"><div class=\"t m0 x12e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y366e w41 hfd\"><div class=\"t m0 x125 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y366f w4d hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1e0 ws1\">Total comprehensive income<span class=\"ls1\"> <span class=\"ls1da\">(expense)</span> </span></div></td><td class=\"c x2ea y366f w41 hfe\"><div class=\"t m0 x112 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">310 </div></td><td class=\"c x201 y366f w4e hfe\"><div class=\"t m0 x85 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y366f w41 hfe\"><div class=\"t m0 x7c hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">53 </div></td></tr><tr><td class=\"c x1f9 y3670 w4d hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of total comprehe<span class=\"_ _1\"></span>nsive income<span class=\"ls1\"> <span class=\"ls1da\">(expense)</span> </span></div></td><td class=\"c x2ea y3670 w41 hfe\"><div class=\"t m0 x112 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">155<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3670 w4e hfe\"><div class=\"t m0 x162 hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2eb y3670 w41 hfe\"><div class=\"t m0 x166 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3671 w4d hfd\"><div class=\"t m0 x0 hfb y292f ff42 fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"ls289\">share of <span class=\"_ _1\"></span>distributions payable</span><span class=\"ls289\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y3671 w41 hfd\"><div class=\"t m0 x166 hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3671 w4e hfd\"><div class=\"t m0 x162 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2eb y3671 w41 hfd\"><div class=\"t m0 x85 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y3672 w4d hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised balance sheets<span class=\"ls1\"> <span class=\"ls208\">as at 31 March 2026</span></span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3673 w4d hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1d5 ws1\">Investment<span class=\"ls1e4\">, d<span class=\"_ _0\"></span>evelopment a<span class=\"_ _0\"></span>nd<span class=\"ls1\"> <span class=\"ls1ee\">trading properties</span></span></span><span class=\"ls1e4\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y3673 w41 hfd\"><div class=\"t m0 x1a4 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">4,603<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3673 w4e hfd\"><div class=\"t m0 x112 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">140<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3673 w41 hfd\"><div class=\"t m0 x13a hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">464<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3674 w4d hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1d5 ws1\">Investments in jo<span class=\"_ _0\"></span>int ventures<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3674 w41 hfe\"><div class=\"t m0 x6d hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">374<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3674 w4e hfe\"><div class=\"t m0 x12e hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3674 w41 hfe\"><div class=\"t m0 x12e hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3675 w4d hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls204 ws1\">Other non<span class=\"ls1\">-<span class=\"ls1e6\">current as<span class=\"_ _1\"></span>sets</span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2ea y3675 w41 hfe\"><div class=\"t m0 x85 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x201 y3675 w4e hfe\"><div class=\"t m0 x12e hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y3675 w41 hfe\"><div class=\"t m0 x85 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td></tr><tr><td class=\"c x1f9 y3676 w4d hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1d9 ws1\">Current assets<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3676 w41 hfd\"><div class=\"t m0 x166 hfb y28dd ff3f fsba fc4 sc0 ls1ea ws1\">23<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3676 w4e hfd\"><div class=\"t m0 xd5 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x2eb y3676 w41 hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y3677 w4d hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3677 w41 hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">131<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3677 w4e hfe\"><div class=\"t m0 x14 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3677 w41 hfe\"><div class=\"t m0 x85 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3678 w4d hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls20a ws1\">Gross assets<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3678 w41 hfe\"><div class=\"t m0 x1aa hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">5,1<span class=\"ls1dd\">37</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x201 y3678 w4e hfe\"><div class=\"t m0 x112 hfb y28fc ff42 fsba fc11 sc0 ls1df ws1\">160<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3678 w41 hfe\"><div class=\"t m0 x13a hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">48<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3679 w4d hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1d9 ws1\">Current liabi<span class=\"_ _1\"></span>lities<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y3679 w41 hfe\"><div class=\"t m0 x13a hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dc\">139</span>) </div></td><td class=\"c x201 y3679 w4e hfe\"><div class=\"t m0 xd0 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(10)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3679 w41 hfe\"><div class=\"t m0 x166 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dc\">11</span>) </div></td></tr><tr><td class=\"c x1f9 y367a w4d hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">Bank and securit<span class=\"_ _1\"></span>ised debt<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y367a w41 hfd\"><div class=\"t m0 x1ad hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(1,850)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y367a w4e hfd\"><div class=\"t m0 x12e hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y367a w41 hfd\"><div class=\"t m0 x16e hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(160)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y367b w4d hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">Loans from joint venture part<span class=\"_ _1\"></span>ners<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y367b w41 hfe\"><div class=\"t m0 x1bc hfb y28f5 ff3f fsba fc4 sc0 ls1db ws1\">(1,619)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y367b w4e hfe\"><div class=\"t m0 x1c4 hfb y28f5 ff3f fsba fc4 sc0 ls1db ws1\">(27)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367b w41 hfe\"><div class=\"t m0 x12e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y367c w4d hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls204 ws1\">Other non<span class=\"ls1\">-<span class=\"ls1e6\">current l<span class=\"_ _1\"></span>iabilities</span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2ea y367c w41 hfd\"><div class=\"t m0 x12e hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y367c w4e hfd\"><div class=\"t m0 x125 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367c w41 hfd\"><div class=\"t m0 xd0 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y367d w4d hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls207\">liabilities</span><span class=\"ls207\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y367d w41 hfe\"><div class=\"t m0 x19e hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(3,6<span class=\"ls1d9\">08</span><span class=\"ls1d9\"><span class=\"ls1\">) </span></span></div></td><td class=\"c x201 y367d w4e hfe\"><div class=\"t m0 x1c4 hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367d w41 hfe\"><div class=\"t m0 x16e hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(18<span class=\"ls1\">4</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y367e w4d hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1e1 ws1\">Net assets <span class=\"_ _1\"></span>(liabiliti<span class=\"_ _1\"></span>es)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y367e w41 hfe\"><div class=\"t m0 x1bc hfb y2914 ff42 fsba fc11 sc0 ls1df ws1\">1,529<span class=\"ls1\"> </span></div></td><td class=\"c x201 y367e w4e hfe\"><div class=\"t m0 xd0 hfb y2914 ff42 fsba fc11 sc0 ls1df ws1\">119<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367e w41 hfe\"><div class=\"t m0 x13a hfb y2914 ff42 fsba fc11 sc0 ls1dd ws1\">305<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y367f w4d hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of net assets <span class=\"_ _1\"></span>less shareholder loa<span class=\"_ _1\"></span>ns<span class=\"_ _216\"> </span></div><div class=\"t m0 x77 hff y2982 ff43 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x78 hfb y292b ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y367f w41 hfd\"><div class=\"t m0 x6d hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">765<span class=\"ls1\"> </span></div></td><td class=\"c x201 y367f w4e hfd\"><div class=\"t m0 x7c hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y367f w41 hfd\"><div class=\"t m0 x7c hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">76<span class=\"ls1\"> </span></div></td></tr></table>1. <span class=\"_ _24\"> </span><span class=\"ls1f1\">In accordance<span class=\"_ _0\"></span> with the Group\u2019s acco<span class=\"_ _0\"></span>unting policies detailed<span class=\"_ _0\"></span> in Note 1, the Group re<span class=\"_ _0\"></span>cognises a nil equity in<span class=\"_ _0\"></span>vestment in joint <span class=\"ls1fa\">ventures </span></span>in<span class=\"ls1\"> <span class=\"ls1f4\">a net liability position at year end.</span> </span>2. <span class=\"ls1f1\">Included in the colu<span class=\"_ _0\"></span>mn headed \u2018Other jo<span class=\"_ _0\"></span>int ventures\u2019 are contrib<span class=\"_ _0\"></span>utions from th<span class=\"ls1fe\">e following: BL Goodman Limited Partnership, City of </span></span>London Office Unit Trust<span class=\"ls1\">, <span class=\"ls201\">Reading Gate <span class=\"_ _1\"></span>Retail Park Co<span class=\"ls1\">-<span class=\"ls28f\">Ownership<span class=\"ls1f7\">, Eden Walk Shopping Centre Un<span class=\"_ _0\"></span>it Trust</span></span> <span class=\"ls1f4\">and the <span class=\"ls28d\">Whiteley S<span class=\"_ _1\"></span>hopping </span></span></span></span></span>Centre Unit Trust<span class=\"ls1\">. <span class=\"ls28f\">On <span class=\"_ _1\"></span><span class=\"ls203\">30 October 2025<span class=\"ls1\">, <span class=\"ls1f3\">the Group <span class=\"ls1f4\">acquired the remaining 50%</span></span> <span class=\"ls202\">share of Eden Walk Shopping Centre Unit Trust<span class=\"ls1f7\">. <span class=\"ls1ff\">As a </span></span></span></span></span></span></span>result of this acquisition, <span class=\"ls1f2\">Eden Walk<span class=\"ls1\"> <span class=\"ls1f0\">Shopping Centre Unit Trust, previously <span class=\"_ _1\"></span>accounted for as a joint<span class=\"ls1\"> <span class=\"ls1fa\">venture,</span> <span class=\"ls1f2\">became a wholly</span>-<span class=\"ls1fb\">owned </span></span></span></span></span>subsidiary of the Group and has been fully consolidated from this date<span class=\"ls1f7\">. <span class=\"ls1\"> </span></span>3. <span class=\"ls201\">Revenue incl<span class=\"_ _1\"></span>udes gross rental income at<span class=\"_ _1\"></span> 100% share of <span class=\"ls1fb\">\u00a3335m</span><span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a33<span class=\"ls203\">32<span class=\"ls1f5\">m).</span></span></span> </span></span>4.<span class=\"ls1\"> <span class=\"_ _6\"></span><span class=\"ls1f1\">In<span class=\"_ _0\"></span>cluded in the total net<span class=\"_ _0\"></span> movements on pro<span class=\"_ _0\"></span>perty of \u00a3209m are va<span class=\"_ _0\"></span>luation movements<span class=\"_ _0\"></span> on investment and de<span class=\"_ _0\"></span>velopment propert<span class=\"_ _0\"></span>ies of </span></span>\u00a3234m and impairment of trading <span class=\"ls1f2\">propert<span class=\"_ _1\"></span>ies of \u00a325m. At Group share, the <span class=\"_ _1\"></span>net movements on property of \u00a398m include va<span class=\"_ _1\"></span>luation </span>movements on <span class=\"_ _1\"></span>investment an<span class=\"_ _1\"></span>d development <span class=\"_ _1\"></span>properties of<span class=\"_ _1\"></span> \u00a3111m and i<span class=\"_ _1\"></span>mpairment of t<span class=\"_ _1\"></span>rading proper<span class=\"_ _1\"></span>ties of \u00a313<span class=\"_ _1\"></span>m.<span class=\"_ _216\"> </span><table class=\"s w15a h171\" id=\"_93d21cbb-d0f4-4175-aa8b-93fc048cd0e1\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x2ec y3680 w8a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x2ed y3681 w15b h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">Paddington<span class=\"_ _216\"> </span></div></td><td class=\"c x2ee y3682 w15c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27e ws1\">One<span class=\"ls1\"> <span class=\"ls1d2\">Triton<span class=\"_ _216\"> </span></span></span></div></td><td></td><td class=\"c x20d y3682 w15d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Hercules Unit<span class=\"_ _216\"> </span></div></td><td class=\"c x2ef y3682 w15e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27e ws1\">Other joint<span class=\"_ _216\"> </span></div></td><td class=\"c x2f0 y3682 w8a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x2f1 y3682 w15f h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Group share<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3683 w3b hfa\"><div class=\"t m0 x197 hf9 y28e1 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Canada Water<span class=\"ls1\"> </span></div></td><td class=\"c x2f2 y3685 w160 h172\"><div class=\"t m0 x1e7 hfc y3684 ff41 fsbb fc4 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x2f3 y3686 w161 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Square<span class=\"_ _216\"> </span></div></td><td class=\"c x2f4 y3683 w4f hfa\"><div class=\"t m0 x1a7 hf9 y28e1 ff3d fsb9 fc4 sc0 ls1d2 ws1\">SouthGate <span class=\"ls1\"> </span></div></td><td class=\"c x2f5 y3686 w162 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Trust<span class=\"ls1\"> <span class=\"ls27d\">JV<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x2f7 y3686 w163 h148\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1 ws1\">v<span class=\"ls1cf\">entures</span></div><div class=\"t m0 x2f6 hfc y3465 ff41 fsbb fc4 sc0 ls1 ws1\">2<span class=\"_ _216\"> </span></div></td><td class=\"c x2f0 y3686 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x2ec y3686 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x2f8 y3687 w164 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Central<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3688 w3b hf8\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3688 w4f hf8\"><div class=\"t m0 x1be hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y3688 w4f hf8\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3688 w4f hf8\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3688 w4f hf8\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3689 w3b hfe\"><div class=\"t m0 x109 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x2f9 y3689 w4f hfe\"><div class=\"t m0 xd0 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">65 </div></td><td class=\"c x2fa y3689 w4f hfe\"><div class=\"t m0 x85 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x2f4 y3689 w4f hfe\"><div class=\"t m0 x166 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">17 </div></td><td class=\"c x21d y3689 w4f hfe\"><div class=\"t m0 x166 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">16<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3689 w3b hfe\"><div class=\"t m0 x7c hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">14 </div></td><td class=\"c x220 y3689 w4f hfe\"><div class=\"t m0 x13a hfb y28f3 ff3f fsba fc4 sc0 ls1d8 ws1\">433<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3689 w4f hfe\"><div class=\"t m0 x112 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">192<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368a w3b hfd\"><div class=\"t m0 x7c hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(9) </div></td><td class=\"c x2f9 y368a w4f hfd\"><div class=\"t m0 x6d hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls208\">22</span>) </div></td><td class=\"c x2fa y368a w4f hfd\"><div class=\"t m0 x166 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y368a w4f hfd\"><div class=\"t m0 x7c hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(5) </div></td><td class=\"c x21d y368a w4f hfd\"><div class=\"t m0 x125 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y368a w3b hfd\"><div class=\"t m0 x7c hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(4) </div></td><td class=\"c x220 y368a w4f hfd\"><div class=\"t m0 x16e hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dc\">148</span>) </div></td><td class=\"c x2fc y368a w4f hfd\"><div class=\"t m0 x6d hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">66</span>) </div></td></tr><tr><td class=\"c x1f9 y368b w3b hfd\"><div class=\"t m0 x125 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y368b w4f hfd\"><div class=\"t m0 xd0 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">43 </div></td><td class=\"c x2fa y368b w4f hfd\"><div class=\"t m0 x14 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y368b w4f hfd\"><div class=\"t m0 x166 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">12<span class=\"ls1\"> </span></div></td><td class=\"c x21d y368b w4f hfd\"><div class=\"t m0 x166 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">15<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y368b w3b hfd\"><div class=\"t m0 x7c hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">10 </div></td><td class=\"c x220 y368b w4f hfd\"><div class=\"t m0 x1c5 hfb y28f7 ff3f fsba fc4 sc0 ls1ea ws1\">28<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td class=\"c x2fc y368b w4f hfd\"><div class=\"t m0 x112 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">126<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368c w3b hfe\"><div class=\"t m0 x125 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y368c w4f hfe\"><div class=\"t m0 x14 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y368c w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y368c w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y368c w4f hfe\"><div class=\"t m0 x125 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y368c w3b hfe\"><div class=\"t m0 x109 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y368c w4f hfe\"><div class=\"t m0 x166 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y368c w4f hfe\"><div class=\"t m0 x166 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368d w3b hfd\"><div class=\"t m0 x7c hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y368d w4f hfd\"><div class=\"t m0 x6d hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y368d w4f hfd\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y368d w4f hfd\"><div class=\"t m0 x14 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y368d w4f hfd\"><div class=\"t m0 x85 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y368d w3b hfd\"><div class=\"t m0 x109 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y368d w4f hfd\"><div class=\"t m0 x112 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(111)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y368d w4f hfd\"><div class=\"t m0 x1c5 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(48)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368e w3b hfe\"><div class=\"t m0 x7c hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y368e w4f hfe\"><div class=\"t m0 x166 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y368e w4f hfe\"><div class=\"t m0 x14 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y368e w4f hfe\"><div class=\"t m0 x14 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x21d y368e w4f hfe\"><div class=\"t m0 x7c hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y368e w3b hfe\"><div class=\"t m0 x7c hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">10 </div></td><td class=\"c x220 y368e w4f hfe\"><div class=\"t m0 x6d hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">1<span class=\"ls1e0\">69</span> </div></td><td class=\"c x2fc y368e w4f hfe\"><div class=\"t m0 xd0 hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">76<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y368f w3b hfd\"><div class=\"t m0 x109 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y368f w4f hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y368f w4f hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y368f w4f hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y368f w4f hfd\"><div class=\"t m0 x85 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y368f w3b hfd\"><div class=\"t m0 x109 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y368f w4f hfd\"><div class=\"t m0 xd0 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">24 </div></td><td class=\"c x2fc y368f w4f hfd\"><div class=\"t m0 x166 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">12 </div></td></tr><tr><td class=\"c x1f9 y3690 w3b hfe\"><div class=\"t m0 x1c5 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3690 w4f hfe\"><div class=\"t m0 x1c4 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y3690 w4f hfe\"><div class=\"t m0 xd0 hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3690 w4f hfe\"><div class=\"t m0 x109 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x21d y3690 w4f hfe\"><div class=\"t m0 x109 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x2fb y3690 w3b hfe\"><div class=\"t m0 x109 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x220 y3690 w4f hfe\"><div class=\"t m0 x1be hfb y28d5 ff3f fsba fc4 sc0 ls1ea ws1\">209<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3690 w4f hfe\"><div class=\"t m0 xd0 hfb y28d5 ff3f fsba fc4 sc0 ls1e0 ws1\">98<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3691 w3b hfd\"><div class=\"t m0 x109 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3691 w4f hfd\"><div class=\"t m0 x7c hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y3691 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3691 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3691 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3691 w3b hfd\"><div class=\"t m0 x109 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3691 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x2fc y3691 w4f hfd\"><div class=\"t m0 x109 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y3692 w3b hfe\"><div class=\"t m0 x7c hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3692 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y3692 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3692 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3692 w4f hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3692 w3b hfe\"><div class=\"t m0 x109 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3692 w4f hfe\"><div class=\"t m0 x166 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3692 w4f hfe\"><div class=\"t m0 x166 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">(3) </div></td></tr><tr><td class=\"c x1f9 y3693 w3b hfe\"><div class=\"t m0 x13a hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(66)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3693 w4f hfe\"><div class=\"t m0 x12e hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fa y3693 w4f hfe\"><div class=\"t m0 xd0 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3693 w4f hfe\"><div class=\"t m0 x1c4 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3693 w4f hfe\"><div class=\"t m0 x7c hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3693 w3b hfe\"><div class=\"t m0 x7c hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">18 </div></td><td class=\"c x220 y3693 w4f hfe\"><div class=\"t m0 x1be hfb y28e6 ff42 fsba fc11 sc0 ls1e9 ws1\">40<span class=\"ls1\">3</span><span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3693 w4f hfe\"><div class=\"t m0 x6d hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">188<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3694 w3b hfd\"><div class=\"t m0 x109 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3694 w3b hfd\"><div class=\"t m0 x109 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3694 w4f hfd\"><div class=\"t m0 x14 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">(1) </div></td><td class=\"c x2fc y3694 w4f hfd\"><div class=\"t m0 x85 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3695 w3b hfd\"><div class=\"t m0 x13a hfb y298b ff42 fsba fc11 sc0 ls1da ws1\">(66)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3695 w4f hfd\"><div class=\"t m0 x12e hfb y298b ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fa y3695 w4f hfd\"><div class=\"t m0 xd0 hfb y298b ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3695 w4f hfd\"><div class=\"t m0 x1c4 hfb y298b ff42 fsba fc11 sc0 ls1d7 ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3695 w4f hfd\"><div class=\"t m0 x7c hfb y298b ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3695 w3b hfd\"><div class=\"t m0 x7c hfb y298b ff42 fsba fc11 sc0 ls1 ws1\">18 </div></td><td class=\"c x220 y3695 w4f hfd\"><div class=\"t m0 x1be hfb y298b ff42 fsba fc11 sc0 ls1e9 ws1\">40<span class=\"ls1\">2</span><span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3695 w4f hfd\"><div class=\"t m0 x6d hfb y298b ff42 fsba fc11 sc0 ls1df ws1\">18<span class=\"ls1\">8</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3696 w3b hfe\"><div class=\"t m0 x109 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3696 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y3696 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3696 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3696 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3696 w3b hfe\"><div class=\"t m0 x109 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3696 w4f hfe\"><div class=\"t m0 x1c4 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1<span class=\"ls1\">3</span><span class=\"ls1\">) </span></div></td><td class=\"c x2fc y3696 w4f hfe\"><div class=\"t m0 x166 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3697 w3b hfe\"><div class=\"t m0 x13a hfb y2914 ff42 fsba fc11 sc0 ls1da ws1\">(66)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3697 w4f hfe\"><div class=\"t m0 x12e hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fa y3697 w4f hfe\"><div class=\"t m0 xd0 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3697 w4f hfe\"><div class=\"t m0 x1c4 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3697 w4f hfe\"><div class=\"t m0 x7c hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3697 w3b hfe\"><div class=\"t m0 x7c hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">18 </div></td><td class=\"c x220 y3697 w4f hfe\"><div class=\"t m0 x13a hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">3<span class=\"ls1d7\">89</span> </div></td><td class=\"c x2fc y3697 w4f hfe\"><div class=\"t m0 x6d hfb y2914 ff42 fsba fc11 sc0 ls1df ws1\">18<span class=\"ls1\">3</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3698 w3b hfd\"><div class=\"t m0 x1c5 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(33)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3698 w4f hfd\"><div class=\"t m0 x12e hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fa y3698 w4f hfd\"><div class=\"t m0 x7c hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3698 w4f hfd\"><div class=\"t m0 x7c hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">10 </div></td><td class=\"c x21d y3698 w4f hfd\"><div class=\"t m0 x125 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">11 </div></td><td class=\"c x2fb y3698 w3b hfd\"><div class=\"t m0 xd0 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x220 y3698 w4f hfd\"><div class=\"t m0 x6d hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">18<span class=\"ls1\">3</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y3699 w3b hfe\"><div class=\"t m0 x109 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3699 w4f hfe\"><div class=\"t m0 x109 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x2fa y3699 w4f hfe\"><div class=\"t m0 x85 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3699 w4f hfe\"><div class=\"t m0 x14 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x21d y3699 w4f hfe\"><div class=\"t m0 x109 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x2fb y3699 w3b hfe\"><div class=\"t m0 x14 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x220 y3699 w4f hfe\"><div class=\"t m0 x166 hfb y28d5 ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y369a w3b hfe\"><div class=\"t m0 x1be hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">695<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y369a w4f hfe\"><div class=\"t m0 x13a hfb y28f5 ff3f fsba fc4 sc0 ls1d7 ws1\">853<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y369a w4f hfe\"><div class=\"t m0 x1be hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">509<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y369a w4f hfe\"><div class=\"t m0 x6d hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">183<span class=\"ls1\"> </span></div></td><td class=\"c x21d y369a w4f hfe\"><div class=\"t m0 x13a hfb y28f5 ff3f fsba fc4 sc0 ls1ea ws1\">224<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y369a w3b hfe\"><div class=\"t m0 x6d hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">198<span class=\"ls1\"> </span></div></td><td class=\"c x220 y369a w4f hfe\"><div class=\"t m0 x1ad hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">7,869<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y369a w4f hfe\"><div class=\"t m0 x1ad hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">3,570<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y369b w3b hfd\"><div class=\"t m0 x109 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y369b w4f hfd\"><div class=\"t m0 x85 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y369b w4f hfd\"><div class=\"t m0 x85 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y369b w4f hfd\"><div class=\"t m0 x85 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y369b w4f hfd\"><div class=\"t m0 x85 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y369b w3b hfd\"><div class=\"t m0 x109 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y369b w4f hfd\"><div class=\"t m0 x13a hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">374<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y369b w4f hfd\"><div class=\"t m0 x112 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">187<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3611 w3b hfe\"><div class=\"t m0 x109 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y3611 w4f hfe\"><div class=\"t m0 x166 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y3611 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y3611 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3611 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y3611 w3b hfe\"><div class=\"t m0 x109 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y3611 w4f hfe\"><div class=\"t m0 x7c hfb y293b ff3f fsba fc4 sc0 ls1ea ws1\">25<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y3611 w4f hfe\"><div class=\"t m0 x85 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y369c w3b hfd\"><div class=\"t m0 x109 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x2f9 y369c w4f hfd\"><div class=\"t m0 x85 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x2fa y369c w4f hfd\"><div class=\"t m0 x109 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2f4 y369c w4f hfd\"><div class=\"t m0 x109 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x21d y369c w4f hfd\"><div class=\"t m0 x85 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x2fb y369c w3b hfd\"><div class=\"t m0 x85 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x220 y369c w4f hfd\"><div class=\"t m0 xd0 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y369c w4f hfd\"><div class=\"t m0 x125 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">17 </div></td></tr><tr><td class=\"c x1f9 y369d w3b hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x2f9 y369d w4f hfe\"><div class=\"t m0 x7c hfb y2914 ff3f fsba fc4 sc0 ls208 ws1\">27<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y369d w4f hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x2f4 y369d w4f hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x21d y369d w4f hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x2fb y369d w3b hfe\"><div class=\"t m0 x109 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x220 y369d w4f hfe\"><div class=\"t m0 x112 hfb y2914 ff3f fsba fc4 sc0 ls1ea ws1\">218<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y369d w4f hfe\"><div class=\"t m0 xd0 hfb y2914 ff3f fsba fc4 sc0 ls1e0 ws1\">96<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y369e w3b hfd\"><div class=\"t m0 x16e hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">706<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y369e w4f hfd\"><div class=\"t m0 x13a hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">895<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y369e w4f hfd\"><div class=\"t m0 x6d hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">521<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y369e w4f hfd\"><div class=\"t m0 x13a hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">190<span class=\"ls1\"> </span></div></td><td class=\"c x21d y369e w4f hfd\"><div class=\"t m0 x1c5 hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">231<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y369e w3b hfd\"><div class=\"t m0 x16e hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">202<span class=\"ls1\"> </span></div></td><td class=\"c x220 y369e w4f hfd\"><div class=\"t m0 x8f hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">8,5<span class=\"ls1dd\">31</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2fc y369e w4f hfd\"><div class=\"t m0 x1ad hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">3,877<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y369f w3b hfe\"><div class=\"t m0 x112 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(19)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y369f w4f hfe\"><div class=\"t m0 x6d hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(27)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y369f w4f hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(9)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y369f w4f hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(7)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y369f w4f hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y369f w3b hfe\"><div class=\"t m0 x7c hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x220 y369f w4f hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1ea\">228)</span> </div></td><td class=\"c x2fc y369f w4f hfe\"><div class=\"t m0 x13a hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(10<span class=\"ls1\">1</span><span class=\"ls1\">) </span></div></td></tr><tr><td class=\"c x1f9 y36a0 w3b hfd\"><div class=\"t m0 x1 hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(107)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y36a0 w4f hfd\"><div class=\"t m0 x1be hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(513)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y36a0 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y36a0 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y36a0 w4f hfd\"><div class=\"t m0 x85 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y36a0 w3b hfd\"><div class=\"t m0 x109 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y36a0 w4f hfd\"><div class=\"t m0 x19e hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(2,630)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y36a0 w4f hfd\"><div class=\"t m0 x1a4 hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(1,146)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36a1 w3b hfd\"><div class=\"t m0 x109 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y36a1 w4f hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(445)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y36a1 w4f hfd\"><div class=\"t m0 x1aa hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(336)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y36a1 w4f hfd\"><div class=\"t m0 x85 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y36a1 w4f hfd\"><div class=\"t m0 x85 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y36a1 w3b hfd\"><div class=\"t m0 x1c5 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(73)<span class=\"ls1\"> </span></div></td><td class=\"c x220 y36a1 w4f hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(2,500)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y36a1 w4f hfd\"><div class=\"t m0 x8f hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(1,132)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36a2 w3b hfe\"><div class=\"t m0 x109 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f9 y36a2 w4f hfe\"><div class=\"t m0 x85 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y36a2 w4f hfe\"><div class=\"t m0 x85 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2f4 y36a2 w4f hfe\"><div class=\"t m0 x6d hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(28)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y36a2 w4f hfe\"><div class=\"t m0 x85 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fb y36a2 w3b hfe\"><div class=\"t m0 x109 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y36a2 w4f hfe\"><div class=\"t m0 x6d hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(45)<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y36a2 w4f hfe\"><div class=\"t m0 x112 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(19)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36a3 w3b hfd\"><div class=\"t m0 x1 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(126)<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y36a3 w4f hfd\"><div class=\"t m0 x1aa hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(985)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y36a3 w4f hfd\"><div class=\"t m0 x1bc hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(345)<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y36a3 w4f hfd\"><div class=\"t m0 x1c5 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(35)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y36a3 w4f hfd\"><div class=\"t m0 x7c hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y36a3 w3b hfd\"><div class=\"t m0 x13a hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(76)<span class=\"ls1\"> </span></div></td><td class=\"c x220 y36a3 w4f hfd\"><div class=\"t m0 x1a3 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(5,<span class=\"ls1e9\">403</span><span class=\"ls1e9\"><span class=\"ls1\">) </span></span></div></td><td class=\"c x2fc y36a3 w4f hfd\"><div class=\"t m0 x1a3 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(2,<span class=\"ls1dd\">398</span><span class=\"ls1dd\"><span class=\"ls1\">) </span></span></div></td></tr><tr><td class=\"c x1f9 y36a4 w3b hfd\"><div class=\"t m0 x16e hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">580<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y36a4 w4f hfd\"><div class=\"t m0 x13a hfb y2c1d ff42 fsba fc11 sc0 ls1da ws1\">(90)<span class=\"ls1\"> </span></div></td><td class=\"c x2fa y36a4 w4f hfd\"><div class=\"t m0 x6d hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">176<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y36a4 w4f hfd\"><div class=\"t m0 x1c5 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">155<span class=\"ls1\"> </span></div></td><td class=\"c x21d y36a4 w4f hfd\"><div class=\"t m0 x1be hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">228<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y36a4 w3b hfd\"><div class=\"t m0 x1c5 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">126<span class=\"ls1\"> </span></div></td><td class=\"c x220 y36a4 w4f hfd\"><div class=\"t m0 x8f hfb y2c1d ff42 fsba fc11 sc0 ls1dd ws1\">3,128<span class=\"ls1\"> </span></div></td><td class=\"c x2fc y36a4 w4f hfd\"><div class=\"t m0 x1a4 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">1,479<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3623 w3b hfe\"><div class=\"t m0 x16e hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">290<span class=\"ls1\"> </span></div></td><td class=\"c x2f9 y3623 w4f hfe\"><div class=\"t m0 x85 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2fa y3623 w4f hfe\"><div class=\"t m0 xd0 hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">88<span class=\"ls1\"> </span></div></td><td class=\"c x2f4 y3623 w4f hfe\"><div class=\"t m0 xd0 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">77<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3623 w4f hfe\"><div class=\"t m0 x112 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">114<span class=\"ls1\"> </span></div></td><td class=\"c x2fb y3623 w3b hfe\"><div class=\"t m0 x1c4 hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">63<span class=\"ls1\"> </span></div></td><td class=\"c x220 y3623 w4f hfe\"><div class=\"t m0 x1a4 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">1,503<span class=\"ls1\"> </span></div></td><td></td></tr></table>The borrowings of j<span class=\"_ _1\"></span>oint ventures and thei<span class=\"_ _1\"></span>r subsidiaries <span class=\"_ _1\"></span>are non<span class=\"ls1\">-<span class=\"ls222\">recourse to the G<span class=\"_ _0\"></span>roup. All joint ventures are </span></span>incorpora<span class=\"_ _0\"></span>ted in the Un<span class=\"_ _0\"></span>ited Kingdo<span class=\"_ _0\"></span>m, with the ex<span class=\"_ _0\"></span>ception of B<span class=\"_ _0\"></span>roadgate R<span class=\"_ _0\"></span>EIT Limited<span class=\"_ _0\"></span> <span class=\"ls225\">and South<span class=\"ls1\">g</span>ate<span class=\"ls1\"> <span class=\"ls234\">Property Unit Trus<span class=\"_ _1\"></span>t </span></span></span>which ar<span class=\"_ _1\"></span>e inc<span class=\"ls220\">orporated <span class=\"_ _1\"></span>in Jersey.<span class=\"ls1\"> </span></span>These financial <span class=\"_ _1\"></span>statements include the <span class=\"_ _1\"></span>results and financi<span class=\"_ _1\"></span>al position of t<span class=\"_ _1\"></span>he Group\u2019s interest <span class=\"_ _1\"></span>in BL Goodman Limited Partnership. Accor<span class=\"_ _1\"></span>dingly, advantage has<span class=\"_ _1\"></span> been taken of the e<span class=\"_ _1\"></span>xemptions provided by Regula<span class=\"_ _1\"></span>tion 7 of the Par<span class=\"_ _1\"></span>tnership (Accou<span class=\"ls221\">nts) Regulations 2008 not to at<span class=\"_ _1\"></span>tach the partnership accounts <span class=\"_ _1\"></span>to these financial st<span class=\"_ _1\"></span>atements.</span><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs343\">The summarised<span class=\"ls1\"> <span class=\"ls1fc\">income state<span class=\"_ _0\"></span>ments and<span class=\"_ _0\"></span> balance she<span class=\"_ _0\"></span>ets below a<span class=\"_ _0\"></span>nd on the follo<span class=\"_ _0\"></span>wing page<span class=\"_ _0\"></span> show 100%<span class=\"_ _0\"></span> of the result<span class=\"_ _0\"></span>s, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs344\">assets and liabilit<span class=\"_ _1\"></span>ies of joint ventures<span class=\"ls1\"> <span class=\"ls222\">to the nearest million.</span> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls242 ws1 gs345\">Joint ventures\u2019 summary financial statements <span class=\"ls23f\">as at<span class=\"ls1\"> <span class=\"ls282\">31 <span class=\"_ _0\"></span>March 202</span>5 </span></span></div><div class=\"gs346\"><table class=\"s w165 h173\" id=\"_dfa52f84-c4cf-4ae7-8e81-1ab36d2292c7\"><tr><td class=\"c x1f9 y36a5 w50 h126\"><div class=\"t m0 x0 h103 y2e28 ff46 fsbd fc4 sc0 ls1f0 ws1\">See page <span class=\"ls1fd\">158 <span class=\"ls1\">f<span class=\"ls1fb\">or additional in<span class=\"ls1f8\">formation on each joint venture</span></span></span></span><span class=\"ls1fd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2fd y36a5 w4e h126\"><div class=\"t m0 x1a5 hf9 y296e ff3d fsb9 fc4 sc0 ls216 ws1\">Broadgate<span class=\"_ _216\"> </span></div><div class=\"t m0 xfa hfc y2e29 ff41 fsbb fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x24 hf9 y296e ff3d fsb9 fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fe y36a6 w166 h172\"><div class=\"t m0 x1e7 hfc y3684 ff41 fsbb fc4 sc0 ls1 ws1\">2<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x2eb y36a5 w41 h126\"><div class=\"t m0 x1b5 hf9 y296e ff3d fsb9 fc4 sc0 ls216 ws1\">BL West End<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x2ff y36a7 w167 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls218 ws1\">Meadowhall<span class=\"_ _216\"> </span></div></td><td class=\"c x201 y36a5 w4e h126\"><div class=\"t m0 x1a6 hf9 y2e2c ff3d fsb9 fc4 sc0 ls28e ws1\">West One<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y36a8 w50 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls20a ws1\">Group share<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36a8 w4e hfe\"><div class=\"t m0 x13a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36a8 w41 hfe\"><div class=\"t m0 x112 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">0%<span class=\"_ _216\"> </span></div><div class=\"t m0 xfa hff y28df ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 xe7 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36a8 w4e hfe\"><div class=\"t m0 x13a hfb y28d5 ff3f fsba fc4 sc0 ls1ea ws1\">25%<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36a8 w41 hfe\"><div class=\"t m0 x13a hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36a9 w4d hf8\"><div class=\"t m0 x0 hfb y294e ff42 fsba fc4 sc0 ls1ed ws1\">Summarised income statements for the year <span class=\"_ _1\"></span>ended 31 March 2025<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36aa w50 hfe\"><div class=\"t m0 x0 hfb y294e ff3f fsba fc4 sc0 ls1d6 ws1\">Revenue<span class=\"_ _216\"> </span></div><div class=\"t m0 x19e hff y2e05 ff44 fsbc fc4 sc0 ls1 ws1\">5</div><div class=\"t m0 x1a2 hfb y294e ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fd y36aa w4e hfe\"><div class=\"t m0 x112 hfb y28fc ff3f fsba fc4 sc0 ls1ea ws1\">242<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36aa w41 hfe\"><div class=\"t m0 x166 hfb y28fc ff3f fsba fc4 sc0 ls1ea ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36aa w4e hfe\"><div class=\"t m0 x85 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x2eb y36aa w41 hfe\"><div class=\"t m0 x7c hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36ab w50 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d9 ws1\">Costs<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36ab w4e hfe\"><div class=\"t m0 x1c4 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(72)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36ab w41 hfe\"><div class=\"t m0 x14 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36ab w4e hfe\"><div class=\"t m0 x125 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36ab w41 hfe\"><div class=\"t m0 x166 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(9)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x2fd y36ac w4e hf8\"><div class=\"t m0 x1c4 hfb y294c ff3f fsba fc4 sc0 ls1dc ws1\">170<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36ac w41 hf8\"><div class=\"t m0 x14 hfb y294c ff3f fsba fc4 sc0 ls1ea ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36ac w4e hf8\"><div class=\"t m0 x85 hfb y294c ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y36ac w41 hf8\"><div class=\"t m0 x125 hfb y294c ff3f fsba fc4 sc0 ls1dc ws1\">19<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36ad w50 hfe\"><div class=\"t m0 x0 hfb y2947 ff3f fsba fc4 sc0 ls1e1 ws1\">Administrati<span class=\"_ _1\"></span>ve expenses<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36ad w4e hfe\"><div class=\"t m0 x12e hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x2ea y36ad w41 hfe\"><div class=\"t m0 x12e hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36ad w4e hfe\"><div class=\"t m0 x12e hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36ad w41 hfe\"><div class=\"t m0 x12e hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36ae w50 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1e1 ws1\">Net interes<span class=\"_ _1\"></span>t payable<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36ae w4e hfe\"><div class=\"t m0 x112 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(66)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36ae w41 hfe\"><div class=\"t m0 x125 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36ae w4e hfe\"><div class=\"t m0 x12e hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36ae w41 hfe\"><div class=\"t m0 x166 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36af w50 hf8\"><div class=\"t m0 x0 hfb y2942 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying Pr<span class=\"_ _1\"></span>ofit <span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36af w4e hf8\"><div class=\"t m0 x1c4 hfb y2942 ff3f fsba fc4 sc0 ls1dc ws1\">107<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36af w41 hf8\"><div class=\"t m0 x14 hfb y2942 ff3f fsba fc4 sc0 ls1dc ws1\">15<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36af w4e hf8\"><div class=\"t m0 x85 hfb y2942 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y36af w41 hf8\"><div class=\"t m0 x14 hfb y2942 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36b0 w50 hfe\"><div class=\"t m0 x0 hfb y28d8 ff3f fsba fc4 sc0 ls1 ws1\">S<span class=\"ls1dd\">hare</span> <span class=\"ls1e0\">of joint venture</span> <span class=\"ls1ee\">result<span class=\"_ _216\"> </span></span></div><div class=\"t m0 x14a hff y2e32 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 xa5 hfb y28d8 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fd y36b0 w4e hfe\"><div class=\"t m0 x125 hfb y2943 ff3f fsba fc4 sc0 ls1ea ws1\">22<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36b0 w41 hfe\"><div class=\"t m0 x12e hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36b0 w4e hfe\"><div class=\"t m0 x12e hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b0 w41 hfe\"><div class=\"t m0 x12e hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b1 w50 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1e1 ws1\">Net valuati<span class=\"_ _1\"></span>on movement<span class=\"ls1e3\">s on property</span><span class=\"ls1e3\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2fd y36b1 w4e hfe\"><div class=\"t m0 x12e hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2ea y36b1 w41 hfe\"><div class=\"t m0 xd5 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x201 y36b1 w4e hfe\"><div class=\"t m0 x12e hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b1 w41 hfe\"><div class=\"t m0 x112 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(33)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36b2 w50 hf8\"><div class=\"t m0 x0 hfb y293d ff3f fsba fc4 sc0 ls1d9 ws1\">Capital fin<span class=\"_ _1\"></span>ancing charges <span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36b2 w4e hf8\"><div class=\"t m0 x14 hfb y293d ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36b2 w41 hf8\"><div class=\"t m0 x12e hfb y293d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36b2 w4e hf8\"><div class=\"t m0 x12e hfb y293d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b2 w41 hf8\"><div class=\"t m0 x12e hfb y293d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b3 w50 hfe\"><div class=\"t m0 x0 hfb y293a ff3f fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1ee\">rofit</span> <span class=\"ls1db\">(loss)</span> <span class=\"ls1e0\">on disposal of <span class=\"ls1eb\">properties</span></span> </div></td><td class=\"c x2fd y36b3 w4e hfe\"><div class=\"t m0 x14 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36b3 w41 hfe\"><div class=\"t m0 x85 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y36b3 w4e hfe\"><div class=\"t m0 x12e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b3 w41 hfe\"><div class=\"t m0 x12e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b4 w50 hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1e8\">rofit</span> <span class=\"ls1da\">(loss)</span> <span class=\"ls1d8\">before taxation</span> </div></td><td class=\"c x2fd y36b4 w4e hfe\"><div class=\"t ma4 x1c4 h127 y2e34 ff3f fsc1 fc4 sc1 ls291 ws1\">139</div><div class=\"t m0 x24 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36b4 w41 hfe\"><div class=\"t ma4 x14 h127 y2e34 ff3f fsc1 fc4 sc1 ls291 ws1\">15</div><div class=\"t m0 x24 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36b4 w4e hfe\"><div class=\"t ma4 x85 h127 y2e34 ff3f fsc1 fc4 sc1 ls1 ws1\">4</div><div class=\"t m0 x24 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36b4 w41 hfe\"><div class=\"t ma4 x6d h127 y2e34 ff3f fsc1 fc4 sc1 ls292 ws1\">(20)</div><div class=\"t m0 x69 hfb y2912 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36b5 w50 hf8\"><div class=\"t m0 x0 hfb y2902 ff3f fsba fc4 sc0 ls1e0 ws1\">Taxation<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36b5 w4e hf8\"><div class=\"t m0 x162 hfb y2902 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2ea y36b5 w41 hf8\"><div class=\"t m0 x12e hfb y2902 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36b5 w4e hf8\"><div class=\"t m0 x12e hfb y2902 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b5 w41 hf8\"><div class=\"t m0 x12e hfb y2902 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b6 w50 hf8\"><div class=\"t m0 x0 hfb y2902 ff42 fsba fc4 sc0 ls1 ws1\">P<span class=\"ls1e8\">rofit</span> <span class=\"ls1da\">(loss)</span> <span class=\"ls208\">after taxation</span> </div></td><td class=\"c x2fd y36b6 w4e hf8\"><div class=\"t ma4 x1c4 h127 y2e36 ff3f fsc1 fc4 sc1 ls291 ws1\">139</div><div class=\"t m0 x24 hfb y2923 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36b6 w41 hf8\"><div class=\"t ma4 x14 h127 y2e36 ff3f fsc1 fc4 sc1 ls291 ws1\">15</div><div class=\"t m0 x24 hfb y2923 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36b6 w4e hf8\"><div class=\"t ma4 x85 h127 y2e36 ff3f fsc1 fc4 sc1 ls1 ws1\">4</div><div class=\"t m0 x24 hfb y2923 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36b6 w41 hf8\"><div class=\"t ma4 x6d h127 y2e36 ff3f fsc1 fc4 sc1 ls292 ws1\">(20)</div><div class=\"t m0 x69 hfb y2923 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36b7 w50 hf8\"><div class=\"t m0 x0 hfb y2923 ff3f fsba fc4 sc0 ls204 ws1\">Other compr<span class=\"_ _1\"></span>ehensive <span class=\"ls1db\">(expense) <span class=\"ls1e5\">income<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2fd y36b7 w4e hf8\"><div class=\"t m0 x85 hfb y2923 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36b7 w41 hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x201 y36b7 w4e hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36b7 w41 hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36b8 w50 hfe\"><div class=\"t m0 x0 hfb y2923 ff42 fsba fc4 sc0 ls1e0 ws1\">Total comprehensive income<span class=\"ls1\"> <span class=\"ls1da\">(expense)</span> </span></div></td><td class=\"c x2fd y36b8 w4e hfe\"><div class=\"t ma4 x1c4 h127 y2e38 ff3f fsc1 fc4 sc1 ls291 ws1\">138</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36b8 w41 hfe\"><div class=\"t ma4 x14 h127 y2e38 ff3f fsc1 fc4 sc1 ls291 ws1\">17</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36b8 w4e hfe\"><div class=\"t ma4 x85 h127 y2e38 ff3f fsc1 fc4 sc1 ls1 ws1\">4</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36b8 w41 hfe\"><div class=\"t ma4 x6d h127 y2e38 ff3f fsc1 fc4 sc1 ls292 ws1\">(20)</div><div class=\"t m0 x69 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36b9 w50 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of total comprehe<span class=\"_ _1\"></span>nsive income<span class=\"ls1\"> <span class=\"ls1da\">(expense)</span> </span></div></td><td class=\"c x2fd y36b9 w4e hfe\"><div class=\"t ma4 x166 h127 y2e3a ff3f fsc1 fc4 sc1 ls293 ws1\">69</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36b9 w41 hfe\"><div class=\"t ma4 x85 h127 y2e3a ff3f fsc1 fc4 sc1 ls1 ws1\">8</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36b9 w4e hfe\"><div class=\"t ma4 x162 h127 y2e3a ff3f fsc1 fc4 sc1 ls1 ws1\">1</div><div class=\"t m0 x24 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36b9 w41 hfe\"><div class=\"t ma4 x166 h127 y2e3a ff3f fsc1 fc4 sc1 ls292 ws1\">(5)</div><div class=\"t m0 x69 hfb y2967 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36ba w50 hfe\"><div class=\"t m0 x0 hfb y28f5 ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of distributi<span class=\"_ _1\"></span>ons payable<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36ba w4e hfe\"><div class=\"t ma4 x166 h127 y2e3c ff3f fsc1 fc4 sc1 ls294 ws1\">45</div><div class=\"t m0 x24 hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36ba w41 hfe\"><div class=\"t ma4 x85 h127 y2e3c ff3f fsc1 fc4 sc1 ls1 ws1\">3</div><div class=\"t m0 x24 hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36ba w4e hfe\"><div class=\"t ma4 x12e h127 y2e3c ff3f fsc1 fc4 sc1 ls1 ws1\">2</div><div class=\"t m0 x24 hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36ba w41 hfe\"><div class=\"t ma4 x85 h127 y2e3c ff3f fsc1 fc4 sc1 ls1 ws1\">3</div><div class=\"t m0 xfa hfb y28f5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36bb w50 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1ed ws1\">Summarised balance sheets<span class=\"ls1\"> <span class=\"ls208\">as at 31 March 2025</span></span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36bc w50 hfe\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d5 ws1\">Investment<span class=\"ls1e4\">, d<span class=\"_ _0\"></span>evelopment a<span class=\"_ _0\"></span>nd<span class=\"ls1\"> <span class=\"ls1ee\">trading properties</span></span></span><span class=\"ls1e4\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2fd y36bc w4e hfe\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1d8 ws1\">4,<span class=\"ls1dc\">179</span><span class=\"ls1dc\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x2ea y36bc w41 hfe\"><div class=\"t m0 x12e hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36bc w4e hfe\"><div class=\"t m0 x1c4 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">126<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36bc w41 hfe\"><div class=\"t m0 x112 hfb y28f7 ff3f fsba fc4 sc0 ls1d8 ws1\">415<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36bd w50 hf8\"><div class=\"t m0 x0 hfb y2923 ff3f fsba fc4 sc0 ls1d5 ws1\">Investments in jo<span class=\"_ _0\"></span>int ventures<span class=\"_ _216\"> </span></div><div class=\"t m0 xfc hff y2e3e ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x121 hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fd y36bd w4e hf8\"><div class=\"t m0 x112 hfb y2923 ff3f fsba fc4 sc0 ls1ea ws1\">232<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36bd w41 hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36bd w4e hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36bd w41 hf8\"><div class=\"t m0 x12e hfb y2923 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y36be w50 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls204 ws1\">Other non<span class=\"ls1\">-<span class=\"ls1e6\">current as<span class=\"_ _1\"></span>sets</span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2fd y36be w4e hfe\"><div class=\"t m0 x14 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36be w41 hfe\"><div class=\"t m0 x12e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36be w4e hfe\"><div class=\"t m0 x12e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36be w41 hfe\"><div class=\"t m0 x14 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36bf w50 hf8\"><div class=\"t m0 x0 hfb y2933 ff3f fsba fc4 sc0 ls1d9 ws1\">Current assets<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36bf w4e hf8\"><div class=\"t m0 x166 hfb y2935 ff3f fsba fc4 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36bf w41 hf8\"><div class=\"t m0 x12e hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36bf w4e hf8\"><div class=\"t m0 x12e hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x2eb y36bf w41 hf8\"><div class=\"t m0 x85 hfb y2935 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y36c0 w50 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c0 w4e hfe\"><div class=\"t m0 x112 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">16<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36c0 w41 hfe\"><div class=\"t m0 x12e hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c0 w4e hfe\"><div class=\"t m0 x85 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x2eb y36c0 w41 hfe\"><div class=\"t m0 x14 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">13<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c1 w50 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls20a ws1\">Gross assets<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c1 w4e hfe\"><div class=\"t ma4 x1aa h127 y2e41 ff3f fsc1 fc4 sc1 ls294 ws1\">4,615</div><div class=\"t m0 x24 hfb y28e6 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36c1 w41 hfe\"><div class=\"t ma4 x12e h127 y2e41 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 x24 hfb y28e6 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36c1 w4e hfe\"><div class=\"t ma4 x1c4 h127 y2e41 ff3f fsc1 fc4 sc1 ls291 ws1\">132</div><div class=\"t m0 x24 hfb y28e6 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36c1 w41 hfe\"><div class=\"t ma4 x13a h127 y2e41 ff3f fsc1 fc4 sc1 ls294 ws1\">443</div><div class=\"t m0 xfa hfb y28e6 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36c2 w50 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1d9 ws1\">Current liabi<span class=\"_ _1\"></span>lities<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c2 w4e hfe\"><div class=\"t m0 x1c5 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(14<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x2ea y36c2 w41 hfe\"><div class=\"t m0 x12e hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c2 w4e hfe\"><div class=\"t m0 x14 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36c2 w41 hfe\"><div class=\"t m0 xd0 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c3 w50 hf8\"><div class=\"t m0 x0 hfb y294e ff3f fsba fc4 sc0 ls1d6 ws1\">Bank and securit<span class=\"_ _1\"></span>ised debt<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c3 w4e hf8\"><div class=\"t m0 x8f hfb y294e ff3f fsba fc4 sc0 ls1db ws1\">(1,529)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36c3 w41 hf8\"><div class=\"t m0 x12e hfb y294e ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c3 w4e hf8\"><div class=\"t m0 x12e hfb y294e ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2eb y36c3 w41 hf8\"><div class=\"t m0 x16e hfb y294e ff3f fsba fc4 sc0 ls1db ws1\">(160)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c4 w50 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">Loans from joint venture part<span class=\"_ _1\"></span>ners<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c4 w4e hfe\"><div class=\"t m0 x1aa hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(1,671)<span class=\"ls1\"> </span></div></td><td class=\"c x2ea y36c4 w41 hfe\"><div class=\"t m0 x12e hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c4 w4e hfe\"><div class=\"t m0 x112 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(56)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36c4 w41 hfe\"><div class=\"t m0 xd0 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(13)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c5 w50 hf8\"><div class=\"t m0 x0 hfb y294c ff3f fsba fc4 sc0 ls204 ws1\">Other non<span class=\"ls1\">-<span class=\"ls1e6\">current l<span class=\"_ _1\"></span>iabilities</span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x2fd y36c5 w4e hf8\"><div class=\"t m0 x162 hfb y2947 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2ea y36c5 w41 hf8\"><div class=\"t m0 x12e hfb y2947 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36c5 w4e hf8\"><div class=\"t m0 x125 hfb y2947 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y36c5 w41 hf8\"><div class=\"t m0 x1c4 hfb y2947 ff3f fsba fc4 sc0 ls1db ws1\">(14)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36c6 w50 hf8\"><div class=\"t m0 x0 hfb y2947 ff42 fsba fc4 sc0 ls20a ws1\">Gross liabi<span class=\"_ _1\"></span>lities<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c6 w4e hf8\"><div class=\"t ma4 x192 h127 y2e44 ff3f fsc1 fc4 sc1 ls292 ws1\">(3,347)</div><div class=\"t m0 x15e hfb y2947 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36c6 w41 hf8\"><div class=\"t ma4 x12e h127 y2e44 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 x24 hfb y2947 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36c6 w4e hf8\"><div class=\"t ma4 x112 h127 y2e44 ff3f fsc1 fc4 sc1 ls292 ws1\">(65)</div><div class=\"t m0 x69 hfb y2947 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36c6 w41 hf8\"><div class=\"t ma4 x1bc h127 y2e44 ff3f fsc1 fc4 sc1 ls292 ws1\">(200)</div><div class=\"t m0 x69 hfb y2947 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y36c7 w50 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1e1 ws1\">Net assets <span class=\"_ _1\"></span>(liabiliti<span class=\"_ _1\"></span>es)<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36c7 w4e hfe\"><div class=\"t ma4 x1aa h127 y2e45 ff3f fsc1 fc4 sc1 ls291 ws1\">1,268</div><div class=\"t m0 x24 hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y36c7 w41 hfe\"><div class=\"t ma4 x12e h127 y2e45 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 x24 hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y36c7 w4e hfe\"><div class=\"t ma4 x166 h127 y2e45 ff3f fsc1 fc4 sc1 ls293 ws1\">67</div><div class=\"t m0 x24 hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y36c7 w41 hfe\"><div class=\"t ma4 x1c5 h127 y2e45 ff3f fsc1 fc4 sc1 ls295 ws1\">243</div><div class=\"t m0 xfa hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1f9 y363a w50 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1d6 ws1\">British Land sh<span class=\"_ _1\"></span>are of net assets <span class=\"_ _1\"></span>less shareholder loa<span class=\"_ _1\"></span>ns<span class=\"_ _216\"> </span></div><div class=\"t m0 x77 hff y28df ff43 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x1b hfb y28d5 ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2fd y363a w4e hfe\"><div class=\"t ma4 x6d h127 y2e46 ff3f fsc1 fc4 sc1 ls293 ws1\">634</div><div class=\"t m0 x24 hfb y28ed ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2ea y363a w41 hfe\"><div class=\"t ma4 x12e h127 y2e46 ff3f fsc1 fc4 sc1 ls1 ws1\">\u2013</div><div class=\"t m0 x24 hfb y28ed ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x201 y363a w4e hfe\"><div class=\"t ma4 x14 h127 y2e46 ff3f fsc1 fc4 sc1 ls291 ws1\">17</div><div class=\"t m0 x24 hfb y28ed ff42 fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x2eb y363a w41 hfe\"><div class=\"t ma4 x125 h127 y2e46 ff3f fsc1 fc4 sc1 ls293 ws1\">61</div><div class=\"t m0 xfa hfb y28ed ff42 fsba fc4 sc0 ls1 ws1\"> </div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs347\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">In the prior year, o<span class=\"ls200\">n 24 January 2025, Broadgate REIT L<span class=\"ls1f9\">imited</span></span></span> <span class=\"ls1fc\">(\u2018Broadgate\u2019) entered into<span class=\"_ _0\"></span> a new 50:50 joint venture arrangement with </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls296 ws1 gs348\">Modon <span class=\"ls297\">Holding PSC<span class=\"ls1\"> <span class=\"ls1f9\">in relation to </span><span class=\"ls201\">Broadgate\u2019s<span class=\"ls1\"> <span class=\"ls28f\">wholly<span class=\"_ _1\"></span><span class=\"ls1\">-<span class=\"ls1fb\">owned development property, 2 Finsbury Avenue<span class=\"ls1f7\">. For further detail<span class=\"ls202\">s, refer to </span></span></span></span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs349\">page <span class=\"ls1fd\">153 <span class=\"ls1fb\">of Note<span class=\"ls1\"> </span></span>11.<span class=\"ls1\"> </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fe ws1 gs34a\">2.<span class=\"ls1\"> <span class=\"ls1f1\">In the prior year, o<span class=\"ls200\">n 12 July 2024 the Group completed the disposal of <span class=\"_ _1\"></span>its 50% shareholding in the Meadowhall Shopping Cent<span class=\"_ _1\"></span>re joint </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fa ws1 gs34b\">venture. The summarised income statement therefore incl<span class=\"_ _1\"></span>udes 100% of the results of Meado<span class=\"ls28f\">whall up to<span class=\"_ _1\"></span> the date of <span class=\"_ _1\"></span>disposal, 12 <span class=\"_ _1\"></span>July </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fe ws1 gs34c\">2024. The summarised balance sheet as at 31 March 2025 ref<span class=\"_ _1\"></span>lects the resulting nil Group share of Meadowhall <span class=\"_ _1\"></span>following the dis<span class=\"ls1f2\">posal.<span class=\"ls1\"> </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls203 ws1 gs34d\">3.<span class=\"ls1\"> <span class=\"ls1f1\">In accordance with the Group\u2019s a<span class=\"_ _0\"></span>ccounting policies de<span class=\"_ _0\"></span>tailed in Note 1, the Grou<span class=\"ls1f2\">p recognises a nil equity investment in joi<span class=\"_ _1\"></span>nt ventures </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f9 ws1 gs34e\">in<span class=\"ls1\"> <span class=\"ls1f4\">a net liability position at year end.</span> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs34f\">4.<span class=\"ls1\"> <span class=\"_ _6\"></span><span class=\"ls1f1\">In<span class=\"_ _0\"></span>cluded in the column<span class=\"_ _0\"></span> headed \u2018Other joint v<span class=\"_ _0\"></span>entures\u2019 are contribut<span class=\"_ _0\"></span>ions from the followin<span class=\"_ _0\"></span>g: BL Goodman Lim<span class=\"_ _0\"></span>ited Partnership, </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls201 ws1 gs350\">Bluebutton Property Man<span class=\"_ _1\"></span>agement UK <span class=\"ls200\">Limited, City of London Office Uni<span class=\"_ _1\"></span>t Trust, Reading Gate Retail Park Co<span class=\"ls1\">-<span class=\"ls28f\">Ownersh<span class=\"_ _1\"></span>ip, Eden Walk </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f0 ws1 gs351\">Shopping Centre Unit Trust and the <span class=\"_ _1\"></span>Whiteley Shopping Centre Unit Trust.<span class=\"ls1\"> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs352\">5. <span class=\"ls201\">Revenue inclu<span class=\"_ _1\"></span>des gross rental income at<span class=\"_ _1\"></span> 100% share of <span class=\"ls1\">\u00a3<span class=\"ls203\">332<span class=\"ls1f5\">m (202</span></span>3<span class=\"ls1f6\">/2</span>4<span class=\"ls1f7\">: \u00a3<span class=\"ls203\">375<span class=\"ls1f5\">m).</span></span></span></span></span><span class=\"ls201\"><span class=\"ls1\"> <span class=\"_ _1b8\"> </span></span></span><span class=\"ls201\"><span class=\"ls1\"> </span></span></div>Total<span class=\"_ _216\"> </span>Paddington<span class=\"_ _216\"> </span>One<span class=\"ls1\"> <span class=\"ls1d2\">Triton<span class=\"_ _216\"> </span></span></span>Hercules Unit<span class=\"_ _216\"> </span>Other joint<span class=\"_ _216\"> </span>Total<span class=\"_ _216\"> </span>Group share<span class=\"_ _216\"> </span>anada Water<span class=\"_ _216\"> </span>3<span class=\"_ _216\"> </span>Square<span class=\"_ _216\"> </span>SouthGate<span class=\"ls1\"> </span>Trust<span class=\"ls1\"> <span class=\"ls27d\">JV<span class=\"_ _216\"> </span></span></span>ventures4<span class=\"_ _216\"> </span>202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span>202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span>Central<span class=\"_ _216\"> </span>50%<span class=\"ls1\"> </span>25%<span class=\"ls1\"> </span>50%<span class=\"ls1\"> </span>50%<span class=\"ls1\"> </span>50%<span class=\"ls1\"> </span>9 62<span class=\"ls1\"> </span>1 17<span class=\"ls1\"> </span>18<span class=\"ls1\"> </span>19<span class=\"ls1\"> </span>430<span class=\"ls1\"> </span>190<span class=\"ls1\"> </span>(8)<span class=\"ls1\"> </span>(19)<span class=\"ls1\"> </span>(1)<span class=\"ls1\"> </span>(4)<span class=\"ls1\"> </span>(3)<span class=\"ls1\"> </span>(5)<span class=\"ls1\"> </span>(130)<span class=\"ls1\"> </span>(57)<span class=\"ls1\"> </span>1 43<span class=\"ls1\"> </span>\u2013 13<span class=\"ls1\"> </span>15<span class=\"ls1\"> </span>14<span class=\"ls1\"> </span>300<span class=\"ls1\"> </span>133<span class=\"ls1\"> </span>(1)<span class=\"ls1\"> </span>(1)<span class=\"ls1\"> </span>\u2013 \u2013 \u2013 \u2013 1 \u2013 1 (26)<span class=\"ls1\"> </span>\u2013 (1)<span class=\"ls1\"> </span>\u2013 \u2013 (104)<span class=\"ls1\"> </span>(43)<span class=\"ls1\"> </span>1 16<span class=\"ls1\"> </span>\u2013 12<span class=\"ls1\"> </span>15<span class=\"ls1\"> </span>14<span class=\"ls1\"> </span>197<span class=\"ls1\"> </span>90<span class=\"ls1\"> </span>\u2013 \u2013 \u2013 \u2013 \u2013 \u2013 22<span class=\"ls1\"> </span>11<span class=\"ls1\"> </span>(55)<span class=\"ls1\"> </span>(17)<span class=\"ls1\"> </span>(8)<span class=\"ls1\"> </span>21<span class=\"ls1\"> </span>16<span class=\"ls1\"> </span>20<span class=\"ls1\"> </span>(<span class=\"ls1dd\">51</span>) (1<span class=\"ls1\">4</span><span class=\"ls1\">) </span>\u2013 (5)<span class=\"ls1\"> </span>\u2013 \u2013 \u2013 \u2013 (9)<span class=\"ls1\"> </span>(3)<span class=\"ls1\"> </span>\u2013 \u2013 \u2013 \u2013 \u2013 4 13<span class=\"ls1\"> </span>6 (54)(6)(8)<span class=\"ls1\"> </span>33313817290\u2013 \u2013 \u2013 \u2013 \u2013 \u2013 \u2013 \u2013 (54)(6)(8)<span class=\"ls1\"> </span>33313817290\u2013 \u2013 \u2013 \u2013 \u2013 \u2013 1 \u2013 (54)(6)(8)<span class=\"ls1\"> </span>33313817390(27)(1)(4)<span class=\"ls1\"> </span>16151890\u20132\u20134787475<span class=\"ls1\">9</span><span class=\"ls1\"> </span>855<span class=\"ls1\"> </span>419<span class=\"ls1\"> </span>164<span class=\"ls1\"> </span>215<span class=\"ls1\"> </span>219<span class=\"ls1\"> </span>7,351<span class=\"ls1\"> </span>3,325<span class=\"ls1\"> </span>\u2013 \u2013 \u2013 \u2013 \u2013 \u2013 232<span class=\"ls1\"> </span>11<span class=\"ls1\">6</span><span class=\"ls1\"> </span>\u2013 14<span class=\"ls1\"> </span>\u2013 \u2013 \u2013 \u2013 41 14<span class=\"ls1\"> </span>2 4 4 1 1 5 51<span class=\"ls1\"> </span>18<span class=\"ls1\"> </span>6 22<span class=\"ls1\"> </span>4 6 8 5 2<span class=\"ls1ea\">28</span> 108<span class=\"ls1\"> </span>7678954271712242297,9033,581(25)<span class=\"ls1\"> </span>(25)<span class=\"ls1\"> </span>(8)<span class=\"ls1\"> </span>(6)<span class=\"ls1\"> </span>(2)<span class=\"ls1\"> </span>(8)<span class=\"ls1\"> </span>(23<span class=\"ls1\">9</span><span class=\"ls1\">) </span>(105)<span class=\"ls1\"> </span>(126)<span class=\"ls1\"> </span>(512)<span class=\"ls1\"> </span>\u2013 \u2013 \u2013 \u2013 (2,327)<span class=\"ls1\"> </span>(996)<span class=\"ls1\"> </span>\u2013 (451)<span class=\"ls1\"> </span>(271)<span class=\"ls1\"> </span>\u2013 \u2013 (101)<span class=\"ls1\"> </span>(2,563)<span class=\"ls1\"> </span>(1,152)<span class=\"ls1\"> </span>\u2013 \u2013 \u2013 (28)<span class=\"ls1\"> </span>\u2013 \u2013 (46)<span class=\"ls1\"> </span>(18)<span class=\"ls1\"> </span>(151)(988)(279)(34)(2)(109)(5,175)(2,271)616(93)1481372221202,7281,310308\u20137469110611,334The borrowings of j<span class=\"_ _1\"></span>oint ventures and thei<span class=\"_ _1\"></span>r subsidiaries <span class=\"_ _1\"></span>are non<span class=\"ls1\">-<span class=\"ls222\">recourse to the G<span class=\"_ _0\"></span>roup. All joint ventures are </span></span>incorpora<span class=\"_ _0\"></span>ted in the Un<span class=\"_ _0\"></span>ited Kingdo<span class=\"_ _0\"></span>m, with the ex<span class=\"_ _0\"></span>ception of B<span class=\"_ _0\"></span>roadgate R<span class=\"_ _0\"></span>EIT Limited<span class=\"_ _0\"></span>, Eden Walk<span class=\"_ _0\"></span> Shopping<span class=\"_ _0\"></span> Centre Unit<span class=\"_ _0\"></span> Trust and <span class=\"ls20c\">Southgate<span class=\"ls1\"> <span class=\"ls24a\">Propert<span class=\"_ _1\"></span>y Unit<span class=\"ls1\"> <span class=\"ls220\">Trust <span class=\"ls236\">which <span class=\"_ _1\"></span>are incor<span class=\"_ _1\"></span>porated i<span class=\"_ _1\"></span>n Jersey. <span class=\"_ _1\"></span><span class=\"ls1\"> </span></span></span></span></span></span></span>These financial <span class=\"_ _1\"></span>statements include the <span class=\"_ _1\"></span>results and financi<span class=\"_ _1\"></span>al position of t<span class=\"_ _1\"></span>he Group\u2019s interest <span class=\"_ _1\"></span>in<span class=\"ls1\"> <span class=\"ls232\">BL Goodman Limited </span></span>Partnership. Accor<span class=\"_ _1\"></span>dingly, advantage has<span class=\"_ _1\"></span> been taken of the e<span class=\"_ _1\"></span>xemptions provided by Regula<span class=\"_ _1\"></span>tion 7 of t<span class=\"ls221\">he Partner<span class=\"_ _1\"></span>ship </span>(Accounts) Regulations 20<span class=\"_ _0\"></span>08 not to attach the partnership acco<span class=\"_ _0\"></span>unts to these financial statements.<span class=\"ls1\"> </span><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs35c\">Summary of <span class=\"ls1\">j<span class=\"ls245\">oint </span>v<span class=\"ls282\">enture</span> <span class=\"ls241\">details</span> </span></div><div class=\"gs2c3\"><table class=\"s w16c h175\" id=\"_a09c1877-f0fe-4a02-b9df-7092eb5fa998\"><tr><td class=\"c x1f9 y36ec w51 hf8\"><div class=\"t m0 x0 hf9 y294e ff3d fsb9 fc4 sc0 ls27d ws1\">Joint <span class=\"ls1\">v<span class=\"ls1cf\">enture</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x315 y36ec w52 hf8\"><div class=\"t m0 x1c3 hf9 y294e ff3d fsb9 fc4 sc0 ls1d0 ws1\">Name<span class=\"ls1\"> </span></div></td><td class=\"c x316 y36ec w53 hf8\"><div class=\"t m0 x0 hf9 y294e ff3d fsb9 fc4 sc0 ls215 ws1\">Partner<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36ec w54 hf8\"><div class=\"t m0 x0 hf9 y294e ff3d fsb9 fc4 sc0 ls215 ws1\">Property sector<span class=\"ls1\"> </span></div></td><td class=\"c x318 y36ec w55 hf8\"><div class=\"t m0 x1b1 hf9 y294e ff3d fsb9 fc4 sc0 ls1d0 ws1\">Group share<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36ed w51 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">Broadgate REIT <span class=\"ls1dd\">Limi<span class=\"_ _1\"></span>ted</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x315 y36ed w52 hfd\"><div class=\"t m0 x1c3 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">Broadgate<span class=\"ls1\"> </span></div></td><td class=\"c x316 y36ed w53 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d8 ws1\">Euro Bluebell LLP <span class=\"_ _1\"></span>(GIC)<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36ed w54 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d9 ws1\">City Campuses<span class=\"ls1\"> </span></div></td><td class=\"c x318 y36ed w55 hfd\"><div class=\"t m0 x19a hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y36ee w16d h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">MSC Propert<span class=\"_ _1\"></span>y Intermedia<span class=\"_ _1\"></span>te Holdings<span class=\"_ _216\"> </span></div></td><td class=\"c x315 y36ef w52 h10b\"><div class=\"t m0 x1c3 hfb y2906 ff3f fsba fc4 sc0 ls20b ws1\">Meadowhall<span class=\"ls1\"> </span></div></td><td class=\"c x319 y36ee w16e h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e1 ws1\">Norges Bank I<span class=\"_ _1\"></span>nvestment<span class=\"_ _216\"> </span></div></td><td class=\"c x317 y36ef w54 h10b\"><div class=\"t m0 x0 hfb y2906 ff3f fsba fc4 sc0 ls1ed ws1\">Shopping <span class=\"ls1\">C<span class=\"ls208\">entre</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x318 y36ef w55 h10b\"><div class=\"t m0 x1a2 hfb y2906 ff3f fsba fc4 sc0 ls275 ws1\">0%<span class=\"_ _216\"> </span></div><div class=\"t m0 x1c4 hff y2e6e ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x7c hfb y2906 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td></tr><tr><td class=\"c x1fe y36f0 w16f h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1 ws1\">L<span class=\"ls1e5\">imited<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x319 y36f1 w170 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">Management<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36f2 w51 h102\"><div class=\"t m0 x0 hfb y2d74 ff3f fsba fc4 sc0 ls27a ws1\">WOSC Par<span class=\"_ _1\"></span>tners <span class=\"_ _1\"></span>Limited <span class=\"_ _1\"></span>Partner<span class=\"_ _1\"></span>ship<span class=\"ls1\"> </span></div></td><td class=\"c x315 y36f2 w52 h102\"><div class=\"t m0 x1c3 hfb y2d74 ff3f fsba fc4 sc0 ls27a ws1\">West On<span class=\"_ _1\"></span>e<span class=\"ls1\"> </span></div></td><td class=\"c x319 y36f3 w171 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e1 ws1\">Norges Bank <span class=\"ls1d5\">Investment<span class=\"_ _216\"> </span></span></div></td><td class=\"c x317 y36f2 w54 h102\"><div class=\"t m0 x0 hfb y2d74 ff3f fsba fc4 sc0 ls27a ws1\">West En<span class=\"_ _1\"></span>d Campuse<span class=\"_ _1\"></span>s<span class=\"ls1\"> </span></div></td><td class=\"c x318 y36f2 w55 h102\"><div class=\"t m0 x1a3 hfb y2d74 ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x319 y36f4 w170 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">Management<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36f5 w51 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL West End Offic<span class=\"_ _1\"></span>es Limited<span class=\"ls1\"> </span></div></td><td class=\"c x315 y36f5 w52 hfe\"><div class=\"t m0 x1c3 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL West End<span class=\"ls1\"> </span></div></td><td class=\"c x316 y36f5 w53 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1eb ws1\">Pimco Prime<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36f5 w54 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls27a ws1\">West En<span class=\"_ _1\"></span>d <span class=\"ls1d9\">Campuses</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x318 y36f5 w55 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36f6 w51 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">BL CW Upper Limited <span class=\"_ _1\"></span>Partnership<span class=\"ls1\"> </span></div></td><td class=\"c x315 y36f6 w52 hfd\"><div class=\"t m0 x1c3 hfb y292f ff3f fsba fc4 sc0 ls1d9 ws1\">Canada Water<span class=\"ls1\"> </span></div></td><td class=\"c x316 y36f6 w53 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e1 ws1\">Australian <span class=\"_ _1\"></span>Super<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36f6 w54 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls204 ws1\">Other <span class=\"ls1d9\">Campuses</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x318 y36f6 w55 hfd\"><div class=\"t m0 x19a hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y36f7 w172 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington Property I<span class=\"_ _1\"></span>nvestment<span class=\"_ _216\"> </span></div></td><td class=\"c x31a y36f7 w173 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y36f7 w174 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d8 ws1\">Euro Emerald Private<span class=\"_ _216\"> </span></div></td><td class=\"c x317 y36f8 w54 h102\"><div class=\"t m0 x0 hfb y2d74 ff3f fsba fc4 sc0 ls27a ws1\">West En<span class=\"_ _1\"></span>d <span class=\"ls1d9\">Campuses</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x318 y36f8 w55 h102\"><div class=\"t m0 x1a3 hfb y2d74 ff3f fsba fc4 sc0 ls208 ws1\">25%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y36f9 w175 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1dd ws1\">Limited Partnership<span class=\"_ _216\"> </span></div></td><td class=\"c x31a y36f9 w176 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d9 ws1\">Central<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y36f9 w177 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1dd ws1\">Limited (GIC)<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36fa w51 h10b\"><div class=\"t m0 x0 hfb y2e6f ff3f fsba fc4 sc0 ls204 ws1\">One Triton<span class=\"_ _1\"></span> Holding Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x31a y36fb w178 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls204 ws1\">One<span class=\"ls1\"> <span class=\"ls1e0\">Triton<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x319 y36fb w179 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">The Royal London Mutual<span class=\"_ _216\"> </span></div></td><td class=\"c x317 y36fa w54 h10b\"><div class=\"t m0 x0 hfb y2e6f ff3f fsba fc4 sc0 ls27a ws1\">West En<span class=\"_ _1\"></span>d <span class=\"ls1d9\">Campuses</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x318 y36fa w55 h10b\"><div class=\"t m0 x19a hfb y2e6f ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x31a y36fc w17a h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1ed ws1\">Square<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y36fd w17b h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d5 ws1\">Insurance Soc<span class=\"_ _0\"></span>iety Limited<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y36fe w51 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1ed ws1\">South<span class=\"ls1\">g<span class=\"ls1e6\">ate <span class=\"ls1eb\">Property Unit Trus<span class=\"_ _1\"></span>t</span></span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></span></span></div></td><td class=\"c x315 y36fe w52 hfe\"><div class=\"t m0 x1c3 hfb y28fc ff3f fsba fc4 sc0 ls1ed ws1\">South<span class=\"ls1\">G<span class=\"ls1e6\">ate</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x316 y36fe w53 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1e1 ws1\">Aviva Invest<span class=\"_ _1\"></span>ors<span class=\"ls1\"> </span></div></td><td class=\"c x317 y36fe w54 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1ed ws1\">Shopping Centre<span class=\"ls1\"> </span></div></td><td class=\"c x318 y36fe w55 hfe\"><div class=\"t m0 x19a hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36ff w51 h102\"><div class=\"t m0 x0 hfb y2e72 ff3f fsba fc4 sc0 ls28c ws1\">Hercules Uni<span class=\"_ _1\"></span>t Trust joint<span class=\"_ _1\"></span> venture<span class=\"ls1\"> </span></div></td><td class=\"c x31a y3621 w17c h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls28c ws1\">Hercules Uni<span class=\"_ _1\"></span>t<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y3621 w17d h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">The Prudential Assurance<span class=\"_ _216\"> </span></div></td><td class=\"c x317 y36ff w54 h102\"><div class=\"t m0 x0 hfb y2e72 ff3f fsba fc4 sc0 ls1d6 ws1\">Retail Park<span class=\"ls1\">s</span><span class=\"ls1\"> </span></div></td><td class=\"c x318 y36ff w55 h102\"><div class=\"t m0 x19a hfb y2e72 ff3f fsba fc4 sc0 ls1dd ws1\">50%<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x31a y3639 w17e h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">Trust JV<span class=\"_ _216\"> </span></div></td><td class=\"c x319 y3639 w17f h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d9 ws1\">Company Limited<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs35d\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">In the prior year, o<span class=\"ls200\">n 12 July 2024</span></span>, <span class=\"ls1f3\">the Group co<span class=\"_ _0\"></span>mpleted the disposal of its 50% shareholdin<span class=\"_ _0\"></span>g in the Meadowhall Shopping Centre<span class=\"_ _0\"></span> </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f9 ws1 gs35e\">joint<span class=\"ls1\"> <span class=\"ls1fa\">venture.</span> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls29a ws1 gs35f\">Operating ca<span class=\"_ _0\"></span>sh flows of<span class=\"_ _0\"></span> joint ven<span class=\"_ _0\"></span>tures (Group <span class=\"_ _0\"></span>share)<span class=\"ls1\"> </span></div><div class=\"gs360\"><table class=\"s w18b h177\" id=\"_18e471eb-6df8-4e34-af96-77d5f1d30e5f\"><tr><td></td><td class=\"c x32d y370a w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y370a w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y370b w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y370b wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y370c w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Income receiv<span class=\"_ _0\"></span>ed from tenants<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y370c w24 hfd\"><div class=\"t m0 x192 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">1<span class=\"ls1d7\">81</span> </div></td><td class=\"c x1fd y370c w24 hfd\"><div class=\"t m0 x19e hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">176<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y370d w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>expenses pai<span class=\"_ _1\"></span>d to <span class=\"ls1e3\">suppliers and employees</span><span class=\"ls1e3\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y370d w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(76)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y370d w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(70)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y370e w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1eb ws1\">Proceeds from <span class=\"ls1e3\">sale<span class=\"ls1\"> <span class=\"ls1e0\">of trading <span class=\"_ _1\"></span>properties</span></span></span><span class=\"ls1e3\"><span class=\"ls1\"><span class=\"ls1e0\"><span class=\"ls1\"> </span></span></span></span></div></td><td class=\"c x1fc y370e w24 hfd\"><div class=\"t m0 x1a4 hfb y28f7 ff42 fsba fc11 sc0 ls1df ws1\">18<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y370e w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y370f w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1d9 ws1\">Cash generated fr<span class=\"_ _1\"></span>om operations<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y370f w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1 ws1\">1<span class=\"ls1d7\">23</span> </div></td><td class=\"c x1fd y370f w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">106<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3710 w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest paid<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3710 w24 hfe\"><div class=\"t m0 x1a3 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(48)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3710 w24 hfe\"><div class=\"t m0 x1a3 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(46)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3711 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d5 ws1\">Interest received<span class=\"_ _0\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3711 w24 hfd\"><div class=\"t m0 x1aa hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x1fd y3711 w24 hfd\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y3712 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1e2 ws1\">UK corporation <span class=\"_ _1\"></span>tax <span class=\"ls1eb\">paid</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3712 w24 hfe\"><div class=\"t m0 x8f hfb y28d5 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3712 w24 hfe\"><div class=\"t m0 x1bc hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3713 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1d9 ws1\">Cash inflow fr<span class=\"_ _1\"></span>om operating activiti<span class=\"_ _1\"></span>es<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3713 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">83<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3713 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">64<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3714 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff42 fsba fc4 sc0 ls1d9 ws1\">Cash <span class=\"ls207\">inflow from opera<span class=\"_ _0\"></span>ting activities deplo<span class=\"_ _0\"></span>yed as:</span><span class=\"ls207\"><span class=\"ls1\"> </span></span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3715 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">S<span class=\"ls1dd\">urplus</span> <span class=\"ls1db\">(deficit)</span> <span class=\"ls1e6\">cash retained within joint ventures </span> </div></td><td class=\"c x1fc y3715 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">22<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3715 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(8)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b2 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">Revenue distribut<span class=\"_ _1\"></span>ions per consolid<span class=\"_ _1\"></span>ated statement of ca<span class=\"_ _1\"></span>sh flows<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y35b2 w24 hfd\"><div class=\"t m0 x1a4 hfb y297c ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b2 w24 hfd\"><div class=\"t m0 x1ad hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">72<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y35b4 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1d6 ws1\">Revenue distribut<span class=\"_ _1\"></span>ions a<span class=\"ls1e8\">ttributable<span class=\"ls1\"> </span>to shareholders of the C<span class=\"_ _0\"></span>ompany</span><span class=\"ls1e8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y35b4 w24 hfe\"><div class=\"t m0 x1a4 hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y35b4 w24 hfe\"><div class=\"t m0 x1ad hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">72<span class=\"ls1\"> </span></div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-458": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls283 ws1 gs362\">12<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls29b\">Other investments</span> </span></div><div class=\"gs363\"><table class=\"s w180 h176\" id=\"_e9ad3a6e-c2ec-43a7-9fb9-54adfe6b0527\"><tr><td></td><td></td><td class=\"c x31b y3700 w57 hf8\"><div class=\"t m0 x163 hf9 y28f3 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x31c y3700 w57 hf8\"><div class=\"t m0 x163 hf9 y28f3 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x31d y3701 w181 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td></td><td></td><td class=\"c x31e y3701 w182 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x31f y3702 w183 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls271 ws1\">through<span class=\"_ _216\"> </span></div></td><td class=\"c x320 y3702 w184 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls284 ws1\">Intangible<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x321 y3702 w185 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls217 ws1\">through<span class=\"_ _216\"> </span></div></td><td class=\"c x322 y3702 w186 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls287 ws1\">Intangible<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x323 y3703 w187 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26c ws1\">profit or loss<span class=\"_ _216\"> </span></div></td><td class=\"c x324 y3703 w188 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">assets<span class=\"_ _216\"> </span></div></td><td class=\"c x1ed y3703 w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x325 y3703 w189 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">profit or loss<span class=\"_ _216\"> </span></div></td><td class=\"c x326 y3703 w18a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d5 ws1\">assets<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y3703 wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x327 y35c4 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x328 y35c4 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f5 y35c4 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x329 y35c4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x32a y35c4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35c4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3704 w56 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1e1 ws1\">At 1 April<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x31b y3704 w58 hfd\"><div class=\"t m0 x1a4 hfb y2928 ff42 fsba fc11 sc0 ls1e9 ws1\">41<span class=\"ls1\"> </span></div></td><td class=\"c x32b y3704 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fb y3704 w24 hfd\"><div class=\"t m0 x1a2 hfb y2928 ff42 fsba fc11 sc0 ls1e9 ws1\">48<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3704 w24 hfd\"><div class=\"t m0 x1a2 hfb y2928 ff3f fsba fc4 sc0 ls1d8 ws1\">46<span class=\"ls1\"> </span></div></td><td class=\"c x32c y3704 w58 hfd\"><div class=\"t m0 x1 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x1fd y3704 w24 hfd\"><div class=\"t m0 x1a2 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">54<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3705 w56 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1e1 ws1\">Additions<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3705 w58 hfe\"><div class=\"t m0 x1 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x32b y3705 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3705 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x31c y3705 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x32c y3705 w58 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fd y3705 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td></tr><tr><td class=\"c x1f9 y3706 w56 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d9 ws1\">Capital dist<span class=\"_ _1\"></span>ribution<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3706 w58 hfd\"><div class=\"t m0 x1a4 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(7)<span class=\"ls1\"> </span></div></td><td class=\"c x32b y3706 w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3706 w24 hfd\"><div class=\"t m0 x1a4 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(7)<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3706 w24 hfd\"><div class=\"t m0 x1a4 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x32c y3706 w58 hfd\"><div class=\"t m0 x16e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3706 w24 hfd\"><div class=\"t m0 x1a4 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3707 w56 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1d6 ws1\">Revaluation and <span class=\"_ _1\"></span>foreign currency t<span class=\"_ _1\"></span>ranslation<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3707 w58 hfe\"><div class=\"t m0 x1a4 hfb y28ed ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x32b y3707 w24 hfe\"><div class=\"t m0 x1 hfb y28ed ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fb y3707 w24 hfe\"><div class=\"t m0 x1ad hfb y28ed ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3707 w24 hfe\"><div class=\"t m0 x1a4 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x32c y3707 w58 hfe\"><div class=\"t m0 x16e hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3707 w24 hfe\"><div class=\"t m0 x1a4 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3708 w56 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1e1 ws1\">Amortisation<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3708 w58 hfd\"><div class=\"t m0 x16e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x32b y3708 w24 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3708 w24 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3708 w24 hfd\"><div class=\"t m0 x16e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x32c y3708 w58 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3708 w24 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3709 w56 hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1e1 ws1\">At 31 March<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3709 w58 hfe\"><div class=\"t m0 x1ad hfb y28fc ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x32b y3709 w24 hfe\"><div class=\"t m0 x1aa hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fb y3709 w24 hfe\"><div class=\"t m0 x1a2 hfb y28fc ff42 fsba fc11 sc0 ls1dd ws1\">37<span class=\"ls1\"> </span></div></td><td class=\"c x31c y3709 w24 hfe\"><div class=\"t m0 x8f hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">41<span class=\"ls1\"> </span></div></td><td class=\"c x32c y3709 w58 hfe\"><div class=\"t m0 x16e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fd y3709 w24 hfe\"><div class=\"t m0 x1a2 hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">48<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs364\">The amount included i<span class=\"_ _1\"></span>n the fair value <span class=\"_ _1\"></span>through profit or l<span class=\"_ _1\"></span>oss relates to pri<span class=\"_ _1\"></span>vate equity/venture c<span class=\"_ _1\"></span>apital investments </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs365\">of<span class=\"ls1\"> \u00a3<span class=\"ls221\">32<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a34</span>1<span class=\"ls233\">m) which <span class=\"_ _1\"></span>are cat<span class=\"_ _1\"></span>egorised <span class=\"_ _1\"></span>as Level<span class=\"_ _1\"></span> 3 in<span class=\"_ _1\"></span> the fa<span class=\"_ _1\"></span>ir val<span class=\"_ _1\"></span>ue hier<span class=\"_ _1\"></span>archy. <span class=\"_ _1\"></span>The fai<span class=\"_ _1\"></span>r values<span class=\"_ _1\"></span> of pr<span class=\"_ _1\"></span>ivate </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs366\">equity/venture capital i<span class=\"_ _1\"></span>nves<span class=\"ls222\">tments are dete<span class=\"_ _0\"></span>rmined by the Directors.</span><span class=\"ls222\"><span class=\"ls1\"> </span></span><span class=\"ls222\"><span class=\"ls1\"><span class=\"_ _1b8\"> </span><span class=\"ff3c fc11\"> </span></span></span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-472": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls283 ws1 gs368\">13<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls274\">Debtors</span></span><span class=\"ls1\"> </span></div><div class=\"gs246\"><table class=\"s w18c h158\" id=\"_6e2cedb0-60a0-4a0e-8e32-6dc9582714b9\"><tr><td></td><td class=\"c x32d y3544 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3544 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3545 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3545 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3546 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1e0 ws1\">Trade and other debtors<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3546 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3546 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff3f fsba fc4 sc0 ls208 ws1\">28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3547 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1eb ws1\">Prepayments and accrued <span class=\"_ _1\"></span>income<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3547 w24 hfd\"><div class=\"t m0 x1a4 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3547 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td></td><td class=\"c x1fc y3548 w24 hfd\"><div class=\"t m0 x1a2 hfb y2c1d ff42 fsba fc11 sc0 ls1dd ws1\">34<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3548 w24 hfd\"><div class=\"t m0 x1a2 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">36<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs369\">Trade and other debtor<span class=\"_ _1\"></span>s are shown after deduct<span class=\"_ _1\"></span>ing a provision for<span class=\"_ _1\"></span> impairment against tena<span class=\"_ _1\"></span>nt debtors of \u00a3<span class=\"ls22f\">13<span class=\"ls233\">m<span class=\"_ _216\"> </span></span></span><span class=\"ls22f\"><span class=\"ls233\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls243 ws1 gs36a\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>1<span class=\"_ _0\"></span>2<span class=\"ls233\">m). Acc<span class=\"_ _1\"></span>rued inc<span class=\"_ _1\"></span>ome is <span class=\"_ _1\"></span>shown aft<span class=\"_ _1\"></span>er deduc<span class=\"_ _1\"></span>ting a <span class=\"_ _1\"></span>provisi<span class=\"_ _1\"></span>on for <span class=\"_ _1\"></span>impairme<span class=\"_ _1\"></span>nt of \u00a3<span class=\"_ _1\"></span><span class=\"ls221\">nil<span class=\"ls1\"> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"_ _0\"></span>\u00a3</span></span>nil<span class=\"ls243\">). The<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"><span class=\"ls233\"><span class=\"ls221\"><span class=\"ls243\"> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs36b\">provision for <span class=\"_ _1\"></span>impairment is calcul<span class=\"_ _1\"></span>ated as an expected cr<span class=\"_ _1\"></span>edit loss on tra<span class=\"_ _1\"></span>de and other debtors i<span class=\"_ _1\"></span>n accordance with IFRS <span class=\"_ _1\"></span>9<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs36c\">as set out in<span class=\"ls1\"> <span class=\"ls1ec\">Note 1<span class=\"_ _1\"></span>. </span></span><span class=\"ls1\"><span class=\"ls1ec\"><span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs36d\">T<span class=\"ls221\">he <span class=\"ls234\">debit <span class=\"ls222\">to the <span class=\"ls226\">consolidated <span class=\"ls1fc\">income statem<span class=\"_ _0\"></span>ent for the y<span class=\"_ _0\"></span>ear in relation<span class=\"_ _0\"></span> to </span></span>the <span class=\"ls1fc\">impairm<span class=\"_ _0\"></span>ent of trade<span class=\"_ _0\"></span> debtors and<span class=\"_ _0\"></span> accrued<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls221\"><span class=\"ls234\"><span class=\"ls222\"><span class=\"ls1fc\"> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs36e\">income w<span class=\"_ _0\"></span>as \u00a3<span class=\"ls1\">3<span class=\"ls233\">m (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>5<span class=\"ls233\">m <span class=\"ls234\">debit<span class=\"ls243\">), as disclosed in Note 3. <span class=\"ls220\">This is equal to <span class=\"_ _1\"></span>the increase in prov<span class=\"_ _1\"></span>ision for impairment<span class=\"_ _216\"> </span></span></span></span></span></span><span class=\"ls1\"><span class=\"ls233\"><span class=\"ls234\"><span class=\"ls243\"><span class=\"ls220\"> </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs36f\">of trade <span class=\"ls234\">debtors <span class=\"_ _1\"></span>and accrued income of \u00a3<span class=\"ls1\">1<span class=\"ls233\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>\u00a31</span>m <span class=\"ls1fc\">in<span class=\"ls226\">crease) and write<span class=\"ls1\">-<span class=\"ls220\">offs of trade debtors<span class=\"_ _1\"></span> of \u00a3<span class=\"ls1\">2<span class=\"ls233\">m<span class=\"_ _216\"> </span></span></span></span></span></span></span></span></span></span><span class=\"ls234\"><span class=\"ls1\"><span class=\"ls233\"><span class=\"ls1fc\"><span class=\"ls226\"><span class=\"ls1\"><span class=\"ls220\"><span class=\"ls1\"><span class=\"ls233\"> </span></span></span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls243 ws1 gs370\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: <span class=\"_ _0\"></span><span class=\"ls220\">\u00a34m). </span></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs371\">The Directors consi<span class=\"_ _1\"></span>der that the carryi<span class=\"_ _1\"></span>ng amount of trade and othe<span class=\"_ _1\"></span>r debtors is approxi<span class=\"_ _1\"></span>mate to their fair<span class=\"_ _1\"></span> value. Further<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs372\">details about <span class=\"_ _1\"></span>the Group<span class=\"ls235\">\u2019s credit risk m<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent practice<span class=\"_ _0\"></span>s are disclos<span class=\"_ _0\"></span>ed in Note <span class=\"_ _0\"></span>1<span class=\"ls1\">6.</span></span><span class=\"ls235\"><span class=\"ls1\"><span class=\"ff3c fc11\"> </span></span></span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-437": {
   "value": "13<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls274\">Debtors</span></span><span class=\"ls1\"> </span><table class=\"s w18c h158\" id=\"_6e2cedb0-60a0-4a0e-8e32-6dc9582714b9\"><tr><td></td><td class=\"c x32d y3544 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3544 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3545 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3545 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3546 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1e0 ws1\">Trade and other debtors<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3546 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3546 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff3f fsba fc4 sc0 ls208 ws1\">28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3547 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1eb ws1\">Prepayments and accrued <span class=\"_ _1\"></span>income<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3547 w24 hfd\"><div class=\"t m0 x1a4 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3547 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td></td><td class=\"c x1fc y3548 w24 hfd\"><div class=\"t m0 x1a2 hfb y2c1d ff42 fsba fc11 sc0 ls1dd ws1\">34<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3548 w24 hfd\"><div class=\"t m0 x1a2 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">36<span class=\"ls1\"> </span></div></td></tr></table>Trade and other debtor<span class=\"_ _1\"></span>s are shown after deduct<span class=\"_ _1\"></span>ing a provision for<span class=\"_ _1\"></span> impairment against tena<span class=\"_ _1\"></span>nt debtors of \u00a3<span class=\"ls22f\">13<span class=\"ls233\">m<span class=\"_ _216\"> </span></span></span><span class=\"ls22f\"><span class=\"ls233\"> </span></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>1<span class=\"_ _0\"></span>2<span class=\"ls233\">m). Acc<span class=\"_ _1\"></span>rued inc<span class=\"_ _1\"></span>ome is <span class=\"_ _1\"></span>shown aft<span class=\"_ _1\"></span>er deduc<span class=\"_ _1\"></span>ting a <span class=\"_ _1\"></span>provisi<span class=\"_ _1\"></span>on for <span class=\"_ _1\"></span>impairme<span class=\"_ _1\"></span>nt of \u00a3<span class=\"_ _1\"></span><span class=\"ls221\">nil<span class=\"ls1\"> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"_ _0\"></span>\u00a3</span></span>nil<span class=\"ls243\">). The<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"><span class=\"ls233\"><span class=\"ls221\"><span class=\"ls243\"> </span></span></span></span>provision for <span class=\"_ _1\"></span>impairment is calcul<span class=\"_ _1\"></span>ated as an expected cr<span class=\"_ _1\"></span>edit loss on tra<span class=\"_ _1\"></span>de and other debtors i<span class=\"_ _1\"></span>n accordance with IFRS <span class=\"_ _1\"></span>9<span class=\"_ _216\"> </span> as set out in<span class=\"ls1\"> <span class=\"ls1ec\">Note 1<span class=\"_ _1\"></span>. </span></span><span class=\"ls1\"><span class=\"ls1ec\"><span class=\"ls1\"> </span></span></span>T<span class=\"ls221\">he <span class=\"ls234\">debit <span class=\"ls222\">to the <span class=\"ls226\">consolidated <span class=\"ls1fc\">income statem<span class=\"_ _0\"></span>ent for the y<span class=\"_ _0\"></span>ear in relation<span class=\"_ _0\"></span> to </span></span>the <span class=\"ls1fc\">impairm<span class=\"_ _0\"></span>ent of trade<span class=\"_ _0\"></span> debtors and<span class=\"_ _0\"></span> accrued<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls221\"><span class=\"ls234\"><span class=\"ls222\"><span class=\"ls1fc\"> </span></span></span></span>income w<span class=\"_ _0\"></span>as \u00a3<span class=\"ls1\">3<span class=\"ls233\">m (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>5<span class=\"ls233\">m <span class=\"ls234\">debit<span class=\"ls243\">), as disclosed in Note 3. <span class=\"ls220\">This is equal to <span class=\"_ _1\"></span>the increase in prov<span class=\"_ _1\"></span>ision for impairment<span class=\"_ _216\"> </span></span></span></span></span></span><span class=\"ls1\"><span class=\"ls233\"><span class=\"ls234\"><span class=\"ls243\"><span class=\"ls220\"> </span></span></span></span></span>of trade <span class=\"ls234\">debtors <span class=\"_ _1\"></span>and accrued income of \u00a3<span class=\"ls1\">1<span class=\"ls233\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>\u00a31</span>m <span class=\"ls1fc\">in<span class=\"ls226\">crease) and write<span class=\"ls1\">-<span class=\"ls220\">offs of trade debtors<span class=\"_ _1\"></span> of \u00a3<span class=\"ls1\">2<span class=\"ls233\">m<span class=\"_ _216\"> </span></span></span></span></span></span></span></span></span></span><span class=\"ls234\"><span class=\"ls1\"><span class=\"ls233\"><span class=\"ls1fc\"><span class=\"ls226\"><span class=\"ls1\"><span class=\"ls220\"><span class=\"ls1\"><span class=\"ls233\"> </span></span></span></span></span></span></span></span></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: <span class=\"_ _0\"></span><span class=\"ls220\">\u00a34m). </span></span><span class=\"ls1\"> </span>The Directors consi<span class=\"_ _1\"></span>der that the carryi<span class=\"_ _1\"></span>ng amount of trade and othe<span class=\"_ _1\"></span>r debtors is approxi<span class=\"_ _1\"></span>mate to their fair<span class=\"_ _1\"></span> value. Further<span class=\"_ _216\"> </span> details about <span class=\"_ _1\"></span>the Group<span class=\"ls235\">\u2019s credit risk m<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent practice<span class=\"_ _0\"></span>s are disclos<span class=\"_ _0\"></span>ed in Note <span class=\"_ _0\"></span>1<span class=\"ls1\">6.</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-459": {
   "value": "13<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls274\">Debtors</span></span><table class=\"s w18c h158\" id=\"_6e2cedb0-60a0-4a0e-8e32-6dc9582714b9\"><tr><td></td><td class=\"c x32d y3544 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3544 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3545 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3545 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3546 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1e0 ws1\">Trade and other debtors<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3546 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3546 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff3f fsba fc4 sc0 ls208 ws1\">28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3547 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1eb ws1\">Prepayments and accrued <span class=\"_ _1\"></span>income<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3547 w24 hfd\"><div class=\"t m0 x1a4 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3547 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td></td><td class=\"c x1fc y3548 w24 hfd\"><div class=\"t m0 x1a2 hfb y2c1d ff42 fsba fc11 sc0 ls1dd ws1\">34<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3548 w24 hfd\"><div class=\"t m0 x1a2 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">36<span class=\"ls1\"> </span></div></td></tr></table>Trade and other debtor<span class=\"_ _1\"></span>s are shown after deduct<span class=\"_ _1\"></span>ing a provision for<span class=\"_ _1\"></span> impairment against tena<span class=\"_ _1\"></span>nt debtors of \u00a3<span class=\"ls22f\">13<span class=\"ls233\">m<span class=\"_ _216\"> </span></span></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>1<span class=\"_ _0\"></span>2<span class=\"ls233\">m). Acc<span class=\"_ _1\"></span>rued inc<span class=\"_ _1\"></span>ome is <span class=\"_ _1\"></span>shown aft<span class=\"_ _1\"></span>er deduc<span class=\"_ _1\"></span>ting a <span class=\"_ _1\"></span>provisi<span class=\"_ _1\"></span>on for <span class=\"_ _1\"></span>impairme<span class=\"_ _1\"></span>nt of \u00a3<span class=\"_ _1\"></span><span class=\"ls221\">nil<span class=\"ls1\"> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"_ _0\"></span>\u00a3</span></span>nil<span class=\"ls243\">). The<span class=\"_ _216\"> </span></span></span></span></span>provision for <span class=\"_ _1\"></span>impairment is calcul<span class=\"_ _1\"></span>ated as an expected cr<span class=\"_ _1\"></span>edit loss on tra<span class=\"_ _1\"></span>de and other debtors i<span class=\"_ _1\"></span>n accordance with IFRS <span class=\"_ _1\"></span>9<span class=\"_ _216\"> </span>as set out in<span class=\"ls1\"> <span class=\"ls1ec\">Note 1<span class=\"_ _1\"></span>. </span></span>T<span class=\"ls221\">he <span class=\"ls234\">debit <span class=\"ls222\">to the <span class=\"ls226\">consolidated <span class=\"ls1fc\">income statem<span class=\"_ _0\"></span>ent for the y<span class=\"_ _0\"></span>ear in relation<span class=\"_ _0\"></span> to </span></span>the <span class=\"ls1fc\">impairm<span class=\"_ _0\"></span>ent of trade<span class=\"_ _0\"></span> debtors and<span class=\"_ _0\"></span> accrued<span class=\"_ _216\"> </span></span></span></span></span>income w<span class=\"_ _0\"></span>as \u00a3<span class=\"ls1\">3<span class=\"ls233\">m (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>5<span class=\"ls233\">m <span class=\"ls234\">debit<span class=\"ls243\">), as disclosed in Note 3. <span class=\"ls220\">This is equal to <span class=\"_ _1\"></span>the increase in prov<span class=\"_ _1\"></span>ision for impairment<span class=\"_ _216\"> </span></span></span></span></span></span>of trade <span class=\"ls234\">debtors <span class=\"_ _1\"></span>and accrued income of \u00a3<span class=\"ls1\">1<span class=\"ls233\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>\u00a31</span>m <span class=\"ls1fc\">in<span class=\"ls226\">crease) and write<span class=\"ls1\">-<span class=\"ls220\">offs of trade debtors<span class=\"_ _1\"></span> of \u00a3<span class=\"ls1\">2<span class=\"ls233\">m<span class=\"_ _216\"> </span></span></span></span></span></span></span></span></span></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5: <span class=\"_ _0\"></span><span class=\"ls220\">\u00a34m). </span></span>The Directors consi<span class=\"_ _1\"></span>der that the carryi<span class=\"_ _1\"></span>ng amount of trade and othe<span class=\"_ _1\"></span>r debtors is approxi<span class=\"_ _1\"></span>mate to their fair<span class=\"_ _1\"></span> value. Further<span class=\"_ _216\"> </span>details about <span class=\"_ _1\"></span>the Group<span class=\"ls235\">\u2019s credit risk m<span class=\"_ _0\"></span>anagem<span class=\"_ _0\"></span>ent practice<span class=\"_ _0\"></span>s are disclos<span class=\"_ _0\"></span>ed in Note <span class=\"_ _0\"></span>1<span class=\"ls1\">6.</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-473": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls283 ws1 gs374\">14<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls273\">Creditors</span></span><span class=\"ls1\"> </span></div><div class=\"gs375\"><table class=\"s w18d h178\" id=\"_e64153de-8624-471a-80e8-8453e990752d\"><tr><td></td><td class=\"c x32d y3716 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3716 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3717 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x25d y3717 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3718 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">Trade creditors<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3718 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff42 fsba fc11 sc0 ls1eb ws1\">67<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3718 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">69<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3719 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1e1 ws1\">Accruals<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3719 w24 hfd\"><div class=\"t m0 x1a2 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">85 </div></td><td class=\"c x1fd y3719 w24 hfd\"><div class=\"t m0 x1ad hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371a w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls20a ws1\">Deferred inc<span class=\"_ _1\"></span>ome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371a w24 hfe\"><div class=\"t m0 x192 hfb y28d5 ff42 fsba fc11 sc0 ls1e9 ws1\">46<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371a w24 hfe\"><div class=\"t m0 x1a2 hfb y28d5 ff3f fsba fc4 sc0 ls1d8 ws1\">47<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371b w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls204 ws1\">Other tax<span class=\"_ _1\"></span>ation and so<span class=\"_ _1\"></span>cial secur<span class=\"_ _1\"></span>ity<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371b w24 hfd\"><div class=\"t m0 x1a4 hfb y2be8 ff42 fsba fc11 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371b w24 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371c w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371c w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fd y371c w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y371d w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e0 ws1\">Tenant deposits<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371d w24 hfd\"><div class=\"t m0 x192 hfb y292f ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371d w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">36<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y371e w24 hfd\"><div class=\"t m0 x1a3 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\">1</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371e w24 hfd\"><div class=\"t m0 x19a hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">263<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs376\">Trade creditors <span class=\"_ _1\"></span>are interest<span class=\"ls1\">-<span class=\"ls231\">free and have settleme<span class=\"_ _0\"></span>nt dates within one ye<span class=\"_ _0\"></span>ar. The Directors consid<span class=\"_ _0\"></span>er that the carrying<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls231\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs377\">amount of trade and other creditors <span class=\"_ _1\"></span>is approximate to their fair <span class=\"_ _1\"></span>value.<span class=\"ls1\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-438": {
   "value": "14<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls273\">Creditors</span></span><span class=\"ls1\"> </span><table class=\"s w18d h178\" id=\"_e64153de-8624-471a-80e8-8453e990752d\"><tr><td></td><td class=\"c x32d y3716 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3716 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3717 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x25d y3717 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3718 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">Trade creditors<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3718 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff42 fsba fc11 sc0 ls1eb ws1\">67<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3718 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">69<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3719 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1e1 ws1\">Accruals<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3719 w24 hfd\"><div class=\"t m0 x1a2 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">85 </div></td><td class=\"c x1fd y3719 w24 hfd\"><div class=\"t m0 x1ad hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371a w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls20a ws1\">Deferred inc<span class=\"_ _1\"></span>ome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371a w24 hfe\"><div class=\"t m0 x192 hfb y28d5 ff42 fsba fc11 sc0 ls1e9 ws1\">46<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371a w24 hfe\"><div class=\"t m0 x1a2 hfb y28d5 ff3f fsba fc4 sc0 ls1d8 ws1\">47<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371b w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls204 ws1\">Other tax<span class=\"_ _1\"></span>ation and so<span class=\"_ _1\"></span>cial secur<span class=\"_ _1\"></span>ity<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371b w24 hfd\"><div class=\"t m0 x1a4 hfb y2be8 ff42 fsba fc11 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371b w24 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371c w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371c w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fd y371c w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y371d w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e0 ws1\">Tenant deposits<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371d w24 hfd\"><div class=\"t m0 x192 hfb y292f ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371d w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">36<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y371e w24 hfd\"><div class=\"t m0 x1a3 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\">1</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371e w24 hfd\"><div class=\"t m0 x19a hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">263<span class=\"ls1\"> </span></div></td></tr></table>Trade creditors <span class=\"_ _1\"></span>are interest<span class=\"ls1\">-<span class=\"ls231\">free and have settleme<span class=\"_ _0\"></span>nt dates within one ye<span class=\"_ _0\"></span>ar. The Directors consid<span class=\"_ _0\"></span>er that the carrying<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls231\"> </span></span>amount of trade and other creditors <span class=\"_ _1\"></span>is approximate to their fair <span class=\"_ _1\"></span>value.<span class=\"ls1\"> </span>15<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls29b\">Other non</span>-<span class=\"ls21d\">current liabilities</span></span><span class=\"ls1\"> </span><table class=\"s w18e h179\" id=\"_99212372-0da8-4f82-a5ac-372aa6de09a9\"><tr><td></td><td class=\"c x32d y371f w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y371f w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3720 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3720 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3721 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabiliti<span class=\"ls208\">es</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3721 w24 hfd\"><div class=\"t m0 x1a3 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\">2</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3721 w24 hfd\"><div class=\"t m0 x1a3 hfb y292b ff3f fsba fc4 sc0 ls1dc ws1\">107<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y3722 w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\">2</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3722 w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">107<span class=\"ls1\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-479": {
   "value": "14<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls273\">Creditors</span></span><span class=\"ls1\"> </span><table class=\"s w18d h178\" id=\"_e64153de-8624-471a-80e8-8453e990752d\"><tr><td></td><td class=\"c x32d y3716 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3716 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3717 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x25d y3717 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3718 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">Trade creditors<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3718 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff42 fsba fc11 sc0 ls1eb ws1\">67<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3718 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">69<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3719 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1e1 ws1\">Accruals<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3719 w24 hfd\"><div class=\"t m0 x1a2 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">85 </div></td><td class=\"c x1fd y3719 w24 hfd\"><div class=\"t m0 x1ad hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371a w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls20a ws1\">Deferred inc<span class=\"_ _1\"></span>ome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371a w24 hfe\"><div class=\"t m0 x192 hfb y28d5 ff42 fsba fc11 sc0 ls1e9 ws1\">46<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371a w24 hfe\"><div class=\"t m0 x1a2 hfb y28d5 ff3f fsba fc4 sc0 ls1d8 ws1\">47<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371b w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls204 ws1\">Other tax<span class=\"_ _1\"></span>ation and so<span class=\"_ _1\"></span>cial secur<span class=\"_ _1\"></span>ity<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371b w24 hfd\"><div class=\"t m0 x1a4 hfb y2be8 ff42 fsba fc11 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371b w24 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371c w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371c w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fd y371c w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y371d w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e0 ws1\">Tenant deposits<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371d w24 hfd\"><div class=\"t m0 x192 hfb y292f ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371d w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">36<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y371e w24 hfd\"><div class=\"t m0 x1a3 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\">1</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371e w24 hfd\"><div class=\"t m0 x19a hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">263<span class=\"ls1\"> </span></div></td></tr></table>Trade creditors <span class=\"_ _1\"></span>are interest<span class=\"ls1\">-<span class=\"ls231\">free and have settleme<span class=\"_ _0\"></span>nt dates within one ye<span class=\"_ _0\"></span>ar. The Directors consid<span class=\"_ _0\"></span>er that the carrying<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls231\"> </span></span>amount of trade and other creditors <span class=\"_ _1\"></span>is approximate to their fair <span class=\"_ _1\"></span>value.<span class=\"ls1\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-460": {
   "value": "14<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls273\">Creditors</span></span><table class=\"s w18d h178\" id=\"_e64153de-8624-471a-80e8-8453e990752d\"><tr><td></td><td class=\"c x32d y3716 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3716 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3717 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x25d y3717 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3718 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">Trade creditors<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3718 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff42 fsba fc11 sc0 ls1eb ws1\">67<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3718 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">69<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3719 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1e1 ws1\">Accruals<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3719 w24 hfd\"><div class=\"t m0 x1a2 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">85 </div></td><td class=\"c x1fd y3719 w24 hfd\"><div class=\"t m0 x1ad hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371a w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls20a ws1\">Deferred inc<span class=\"_ _1\"></span>ome<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371a w24 hfe\"><div class=\"t m0 x192 hfb y28d5 ff42 fsba fc11 sc0 ls1e9 ws1\">46<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371a w24 hfe\"><div class=\"t m0 x1a2 hfb y28d5 ff3f fsba fc4 sc0 ls1d8 ws1\">47<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371b w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls204 ws1\">Other tax<span class=\"_ _1\"></span>ation and so<span class=\"_ _1\"></span>cial secur<span class=\"_ _1\"></span>ity<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371b w24 hfd\"><div class=\"t m0 x1a4 hfb y2be8 ff42 fsba fc11 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371b w24 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y371c w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371c w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1fd y371c w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y371d w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e0 ws1\">Tenant deposits<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y371d w24 hfd\"><div class=\"t m0 x192 hfb y292f ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371d w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">36<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y371e w24 hfd\"><div class=\"t m0 x1a3 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\">1</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y371e w24 hfd\"><div class=\"t m0 x19a hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">263<span class=\"ls1\"> </span></div></td></tr></table>Trade creditors <span class=\"_ _1\"></span>are interest<span class=\"ls1\">-<span class=\"ls231\">free and have settleme<span class=\"_ _0\"></span>nt dates within one ye<span class=\"_ _0\"></span>ar. The Directors consid<span class=\"_ _0\"></span>er that the carrying<span class=\"_ _216\"> </span></span></span>amount of trade and other creditors <span class=\"_ _1\"></span>is approximate to their fair <span class=\"_ _1\"></span>value.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-461": {
   "value": "15<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls29b\">Other non</span>-<span class=\"ls21d\">current liabilities</span></span><table class=\"s w18e h179\" id=\"_99212372-0da8-4f82-a5ac-372aa6de09a9\"><tr><td></td><td class=\"c x32d y371f w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y371f w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3720 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3720 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3721 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabiliti<span class=\"ls208\">es</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3721 w24 hfd\"><div class=\"t m0 x1a3 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\">2</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3721 w24 hfd\"><div class=\"t m0 x1a3 hfb y292b ff3f fsba fc4 sc0 ls1dc ws1\">107<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y3722 w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\">2</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3722 w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">107<span class=\"ls1\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-439": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs379\">16 <span class=\"_ _23\"> </span><span class=\"ls274\">Net debt</span> </div><div class=\"gs246\"><table class=\"s w18f h17a\" id=\"_71744af2-76ae-477f-bb93-c17b33fc2106\"><tr><td></td><td></td><td class=\"c x32e y3723 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x32f y3723 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x330 y3724 w29 h115\"><div class=\"t m0 x1ba hf9 y28e6 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Footnote<span class=\"ls1\"> </span></div></td><td class=\"c x331 y3725 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x332 y3725 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3726 w59 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1ed ws1\">Secured on the assets of the <span class=\"_ _1\"></span>Group<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3727 w59 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">5.264% First Mortgage Debenture Bonds 2035<span class=\"ls1\"> </span></div></td><td class=\"c x330 y3727 w29 hfd\"><div class=\"t m0 x192 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x333 y3727 w2f hfd\"><div class=\"t m0 x19e hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">247<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3727 w55 hfd\"><div class=\"t m0 x1a3 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">250<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3728 w59 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1dd ws1\">5.0055% First Mortgage Amortising Debentures <span class=\"_ _1\"></span>2035<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3728 w2f hfe\"><div class=\"t m0 x1aa hfb y2967 ff42 fsba fc11 sc0 ls1d7 ws1\">81<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3728 w55 hfe\"><div class=\"t m0 x8f hfb y2967 ff3f fsba fc4 sc0 ls1d7 ws1\">83<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3729 w59 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1dd ws1\">5.357% First Mortgage Debenture <span class=\"ls1d6\">Bonds <span class=\"_ _1\"></span>2028</span><span class=\"ls1d6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x330 y3729 w29 hfd\"><div class=\"t m0 x192 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x333 y3729 w2f hfd\"><div class=\"t m0 x192 hfb y28f7 ff42 fsba fc11 sc0 ls1df ws1\">146<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3729 w55 hfd\"><div class=\"t m0 x192 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">164<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x333 y372a w2f hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1e9 ws1\">474<span class=\"ls1\"> </span></div></td><td class=\"c x318 y372a w55 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">497<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y372b w59 hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1e2 ws1\">Unsecured<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y372c w59 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">2.375% Sterling Unsecured Bond 2029<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y372c w2f hfe\"><div class=\"t m0 x19e hfb y2943 ff42 fsba fc11 sc0 ls1d7 ws1\">299<span class=\"ls1\"> </span></div></td><td class=\"c x318 y372c w55 hfe\"><div class=\"t m0 x19e hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">299<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y372d w59 hfd\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">5.25% Sterling Unsecured Bond 2032<span class=\"ls1\"> </span></div></td><td class=\"c x330 y372d w29 hfd\"><div class=\"t m0 x192 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x333 y372d w2f hfd\"><div class=\"t m0 x19e hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">297<span class=\"ls1\"> </span></div></td><td class=\"c x318 y372d w55 hfd\"><div class=\"t m0 x19e hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">297<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y372e w59 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">2.67% Senior Notes 2025<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y372e w2f hfd\"><div class=\"t m0 x13a hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x318 y372e w55 hfd\"><div class=\"t m0 x8f hfb y2be8 ff3f fsba fc4 sc0 ls1dd ws1\">37<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y372f w59 hfd\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls208 ws1\">2.75% Senior Notes 2026<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y372f w2f hfd\"><div class=\"t m0 x8f hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">37<span class=\"ls1\"> </span></div></td><td class=\"c x318 y372f w55 hfd\"><div class=\"t m0 x8f hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">37<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3730 w59 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1dd ws1\">3.81% Senior Notes 2026<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3730 w2f hfd\"><div class=\"t m0 x13a hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x318 y3730 w55 hfd\"><div class=\"t m0 x1a4 hfb y28e8 ff3f fsba fc4 sc0 ls1e0 ws1\">99<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3731 w59 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">3.97% Senior Notes <span class=\"ls208\">2026</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td><td></td><td class=\"c x333 y3731 w2f hfe\"><div class=\"t m0 x13a hfb y28f5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x318 y3731 w55 hfe\"><div class=\"t m0 x1a4 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">99<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3732 w59 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1d8 ws1\">4.16% Senior US Doll<span class=\"_ _1\"></span>ar Notes 2025<span class=\"ls1\"> </span></div></td><td class=\"c x330 y3732 w29 hfd\"><div class=\"t m0 x1a3 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x333 y3732 w2f hfd\"><div class=\"t m0 x13a hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x318 y3732 w55 hfd\"><div class=\"t m0 x8f hfb y2c1d ff3f fsba fc4 sc0 ls208 ws1\">76<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3733 w59 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1dd ws1\">5.003% Senior US Dollar Notes 2026<span class=\"ls1\"> </span></div></td><td class=\"c x330 y3733 w29 hfe\"><div class=\"t m0 x1a3 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x333 y3733 w2f hfe\"><div class=\"t m0 x1bc hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3733 w55 hfe\"><div class=\"t m0 x8f hfb y293b ff3f fsba fc4 sc0 ls1e0 ws1\">63<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3734 w59 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls214 ws1\">Floating Rate Senior<span class=\"_ _1\"></span> Notes 2028<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3734 w2f hfd\"><div class=\"t m0 x1a4 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">80<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3734 w55 hfd\"><div class=\"t m0 x1a4 hfb y29a1 ff3f fsba fc4 sc0 ls1d7 ws1\">80<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3735 w59 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls214 ws1\">Floating Rate Senior<span class=\"_ _1\"></span> Notes 2034<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3735 w2f hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">101<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3735 w55 hfe\"><div class=\"t m0 x1ad hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">101<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3736 w59 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d9 ws1\">Commercial paper<span class=\"ls1\"> </span></div></td><td class=\"c x330 y3736 w29 hfd\"><div class=\"t m0 x1a3 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x333 y3736 w2f hfd\"><div class=\"t m0 x19e hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">274<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3736 w55 hfd\"><div class=\"t m0 x13a hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3737 w59 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls214 ws1\">Facilities and <span class=\"_ _1\"></span>overdrafts<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3737 w2f hfe\"><div class=\"t m0 x19e hfb y28ed ff42 fsba fc11 sc0 ls1d7 ws1\">833<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3737 w55 hfe\"><div class=\"t m0 x19e hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">568<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3738 w59 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1e0 ws1\">Term <span class=\"ls1e5\">loans</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td></td><td class=\"c x333 y3738 w2f hfd\"><div class=\"t m0 x1a3 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">540<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3738 w55 hfd\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1d8 ws1\">475<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x333 y3739 w2f hfe\"><div class=\"t m0 x1a6 hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">2,522<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3739 w55 hfe\"><div class=\"t m0 x19b hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">2,231<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373a w59 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls20a ws1\">Gross debt <span class=\"ls1\"> </span></div></td><td class=\"c x330 y373a w29 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x333 y373a w2f hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">2,996<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373a w55 hfe\"><div class=\"t m0 x1a6 hfb y28e6 ff3f fsba fc4 sc0 ls208 ws1\">2,728<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373b w59 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency derivativ<span class=\"_ _0\"></span>e liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x330 y373b w29 hfd\"><div class=\"t m0 x1a3 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x333 y373b w2f hfd\"><div class=\"t m0 x1a4 hfb y297c ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373b w55 hfd\"><div class=\"t m0 x8f hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373c w59 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency derivativ<span class=\"_ _0\"></span>e assets<span class=\"ls1\"> </span></div></td><td class=\"c x330 y373c w29 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x333 y373c w2f hfe\"><div class=\"t m0 x192 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373c w55 hfe\"><div class=\"t m0 x192 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373d w59 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents <span class=\"ls1\"> </span></div></td><td class=\"c x330 y373d w29 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x333 y373d w2f hfd\"><div class=\"t m0 x19a hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373d w55 hfd\"><div class=\"t m0 x192 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373e w59 hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt <span class=\"ls208\">attributabl<span class=\"_ _1\"></span>e to <span class=\"ls289\">shareholders of the Company</span></span><span class=\"ls208\"><span class=\"ls289\"><span class=\"ls1\"> </span></span></span></div></td><td></td><td class=\"c x333 y373e w2f hfd\"><div class=\"t m0 x1a6 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373e w55 hfd\"><div class=\"t m0 x1a6 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373f w59 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1e0 ws1\">Total net debt <span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y373f w2f hfe\"><div class=\"t m0 x1a6 hfb y28ed ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373f w55 hfe\"><div class=\"t m0 x1a6 hfb y28ed ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3740 w59 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1e1 ws1\">Amounts payable <span class=\"_ _1\"></span>under leases <span class=\"_ _1\"></span>(Notes 14 and 1<span class=\"_ _1\"></span>5)<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3740 w2f hfd\"><div class=\"t m0 x192 hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td><td class=\"c x318 y3740 w55 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">114<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3741 w59 hfd\"><div class=\"t m0 x0 hfb y28e3 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt <span class=\"ls208\">attributabl<span class=\"_ _1\"></span>e to shareholders of the Company <span class=\"ls1da\">(including lease liabilities)<span class=\"ls1\"> </span></span></span></div></td><td></td><td class=\"c x333 y3741 w2f hfd\"><div class=\"t m0 x178 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">2,90<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x318 y3741 w55 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls208 ws1\">2,761<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs37a\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">In the <span class=\"_ _1\"></span><span class=\"ls1f2\">prior <span class=\"_ _1\"></span>year, o<span class=\"ls200\">n <span class=\"_ _d\"></span>13 March <span class=\"_ _1\"></span>2025<span class=\"ls1\">, <span class=\"ls1f3\">the <span class=\"_ _1\"></span>Group issued <span class=\"_ _1\"></span>\u00a3300m 5.25% bonds <span class=\"_ _1\"></span>due in <span class=\"_ _d\"></span>2<span class=\"_ _0\"></span>032. The <span class=\"_ _d\"></span>bo<span class=\"_ _0\"></span>nds were <span class=\"_ _d\"></span>issu<span class=\"_ _0\"></span>ed at <span class=\"_ _d\"></span>a discount of <span class=\"_ _d\"></span>\u00a3<span class=\"_ _0\"></span>1m, and </span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f4 ws1 gs37b\">after issue <span class=\"_ _1\"></span>costs have an <span class=\"_ _1\"></span>effective interest rate <span class=\"_ _d\"></span>o<span class=\"_ _0\"></span>f 5.5%. <span class=\"_ _1\"></span>The proceeds were <span class=\"_ _1\"></span>used to redeem \u00a378m <span class=\"_ _1\"></span>5.264% bonds due in <span class=\"_ _1\"></span>2035 and<span class=\"ls1\"> <span class=\"ls1fb\">\u00a372m</span> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls203 ws1 gs37c\">5.357% <span class=\"_ _0\"></span>bonds <span class=\"_ _4\"></span>due <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>2028, <span class=\"_ _4\"></span>by <span class=\"_ _0\"></span>way <span class=\"_ _0\"></span>of <span class=\"_ _4\"></span>a <span class=\"_ _0\"></span>cash <span class=\"_ _4\"></span>tender. <span class=\"_ _0\"></span>\u00a3130m <span class=\"_ _0\"></span>of <span class=\"_ _4\"></span>the <span class=\"_ _0\"></span>\u00a3150m <span class=\"_ _0\"></span>total <span class=\"_ _4\"></span>aggregate <span class=\"_ _0\"></span>nominal <span class=\"_ _0\"></span>amount <span class=\"_ _4\"></span>was <span class=\"_ _0\"></span>settled <span class=\"_ _0\"></span>on <span class=\"_ _4\"></span>the <span class=\"_ _0\"></span>beare<span class=\"ls21a\">r </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls202 ws1 gs37d\">settlement date <span class=\"_ _d\"></span>of 27 <span class=\"_ _1\"></span>March 2025. <span class=\"_ _1\"></span>The remaining <span class=\"_ _d\"></span>\u00a320m was settled <span class=\"_ _d\"></span>on the <span class=\"_ _1\"></span>registered settlement <span class=\"_ _d\"></span>date of 8 <span class=\"_ _d\"></span>April 2025. <span class=\"_ _1\"></span>The 5.264<span class=\"ls29c\">% <span class=\"_ _d\"></span>2<span class=\"ls29d\">035 </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs37e\">bonds were redeemed at a discount <span class=\"_ _1\"></span>and the 5.357% 2028 bonds were redeemed at<span class=\"_ _1\"></span> a premium.<span class=\"ls1\"> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fe ws1 gs37f\">2.<span class=\"ls1\"> <span class=\"ls1f2\">Principal and int<span class=\"_ _1\"></span>erest on these borrowings were full<span class=\"_ _1\"></span>y hedged into Sterling at a fl<span class=\"_ _1\"></span>oating rate at the time of i<span class=\"_ _1\"></span>ssue.<span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls203 ws1 gs380\">3. <span class=\"ls1f1\">In the current year<span class=\"ls1\"> <span class=\"ls1f3\">to 31 Marc<span class=\"_ _0\"></span>h 2026<span class=\"ls1f7\">, the <span class=\"ls1ff\">Group issued commercial <span class=\"_ _1\"></span>paper denominated in <span class=\"ls1\">E<span class=\"ls200\">uros, <span class=\"_ _1\"></span>US <span class=\"ls1\">D<span class=\"ls1fb\">ollars and </span>P<span class=\"ls1fb\">ound</span> S<span class=\"ls1f3\">terling. All </span></span></span></span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f4 ws1 gs381\">commercial paper denominated in a foreign currency <span class=\"ls28f\">was<span class=\"ls1\"> <span class=\"ls202\">swapped to Pound Sterling<span class=\"ls1f7\">. </span></span> </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs382\">4. <span class=\"_ _d\"></span><span class=\"ls1fb\">The principal amount of gross debt a<span class=\"_ _1\"></span>t 31 March 202<span class=\"ls1\">6 <span class=\"ls28f\">was</span> </span>\u00a33,006m<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a32,<span class=\"ls1fe\">740<span class=\"ls1f5\">m). Included in <span class=\"_ _1\"></span>this is the<span class=\"_ _1\"></span> principal <span class=\"_ _1\"></span>amount </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fb ws1 gs383\">of<span class=\"ls1\"> <span class=\"ls202\">secured <span class=\"ls1f2\">borrowings <span class=\"ls1f4\">and other borrowings </span></span></span></span>of non<span class=\"ls1\">-<span class=\"ls1f3\">recourse companies </span></span>of \u00a3480m<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls203\">501<span class=\"ls1f5\">m).</span></span></span> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs384\">5. <span class=\"ls1f1\">Interest rate and currency d<span class=\"_ _0\"></span>erivative liabilities include<span class=\"_ _0\"></span>s non</span>-<span class=\"ls1f4\">current interest rate and currency derivative lia<span class=\"_ _1\"></span><span class=\"ls1f2\">bilities of \u00a345<span class=\"ls1f5\">m (202<span class=\"_ _1\"></span><span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fb ws1 gs385\">\u00a356m) and current interest rat<span class=\"_ _1\"></span>e and currency derivative liabil<span class=\"_ _1\"></span>ities of \u00a3nil<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2m<span class=\"ls1fc\">).</span></span></span> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs386\">6. <span class=\"_ _d\"></span><span class=\"ls1f1\">Int<span class=\"_ _0\"></span>erest rate and currenc<span class=\"_ _0\"></span>y derivative assets includ<span class=\"_ _0\"></span>es non<span class=\"ls1\">-<span class=\"ls1f4\">current interest rate and currency derivative assets of \u00a3<span class=\"ls1f2\">42<span class=\"ls1f5\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span></span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fb ws1 gs387\">\u00a37<span class=\"ls1\">3<span class=\"ls1f5\">m)</span> <span class=\"ls1f4\">and current interest rate and currency derivative assets of<span class=\"_ _1\"></span> \u00a3<span class=\"ls1fe\">26<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>9</span>m).<span class=\"ls1\"> </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs388\">7. <span class=\"ls290\">Cash and cash equival<span class=\"_ _1\"></span>ents includes tenant <span class=\"_ _1\"></span>deposits of \u00a3<span class=\"ls1f2\">45<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a33</span>6</span>m) and cas<span class=\"_ _1\"></span>h and short t<span class=\"_ _1\"></span>erm deposits <span class=\"_ _1\"></span>not subject <span class=\"_ _1\"></span>to </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs389\">a <span class=\"ls202\">security interest amount to</span> <span class=\"ls1fb\">\u00a3131m</span> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>21<span class=\"_ _0\"></span><span class=\"ls1f5\">m).</span> </div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls28b ws1 gs38b\">Maturity <span class=\"_ _0\"></span>analysis <span class=\"_ _0\"></span>of net de<span class=\"_ _0\"></span>bt<span class=\"ls1\"> </span></div><div class=\"gs291\"><table class=\"s w197 h17c\" id=\"_80c88e01-2026-4dc1-a851-5ccc9bf50119\"><tr><td></td><td></td><td class=\"c x200 y374d w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y374d w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td></td><td class=\"c x1f7 y374e w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y374e wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y374f w5a hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">Repayable:<span class=\"ls1\"> </span></div></td><td class=\"c x33b y374f w5b hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls20b ws1\">within one<span class=\"_ _1\"></span> year and o<span class=\"_ _1\"></span>n demand<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y374f w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">521<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y374f w24 hfd\"><div class=\"t m0 x1a2 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3750 w5a hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1d6 ws1\">Between:<span class=\"ls1\"> </span></div></td><td class=\"c x33b y3750 w5b hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">one and two years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3750 w24 hfe\"><div class=\"t m0 x19a hfb y2943 ff42 fsba fc11 sc0 ls1d7 ws1\">252<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3750 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">98<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x33b y3751 w5b hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1ee ws1\">two and five years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3751 w24 hfd\"><div class=\"t m0 x1b0 hfb y28dd ff42 fsba fc11 sc0 ls1df ws1\">1,528<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3751 w24 hfd\"><div class=\"t m0 x1a6 hfb y28dd ff3f fsba fc4 sc0 ls1dc ws1\">1,386<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x33b y3752 w5b hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1e7 ws1\">five and ten years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3752 w24 hfd\"><div class=\"t m0 x19a hfb y28ef ff42 fsba fc11 sc0 ls1eb ws1\">695<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3752 w24 hfd\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">531<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x33b y3753 w5b hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1ee ws1\">ten and fifteen years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3753 w24 hfe\"><div class=\"t m0 x16e hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3753 w24 hfe\"><div class=\"t m0 x19d hfb y28e1 ff3f fsba fc4 sc0 ls1d8 ws1\">402<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x1fc y3754 w24 hfd\"><div class=\"t m0 x1a7 hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">2,475<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3754 w24 hfd\"><div class=\"t m0 x1a6 hfb y292f ff3f fsba fc4 sc0 ls208 ws1\">2,417<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3755 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls20a ws1\">Gross debt<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y3755 w24 hfd\"><div class=\"t m0 x1a5 hfb y28e8 ff42 fsba fc11 sc0 ls1d7 ws1\">2,996<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3755 w24 hfd\"><div class=\"t m0 x178 hfb y28e8 ff3f fsba fc4 sc0 ls208 ws1\">2,728<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3756 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency derivativ<span class=\"_ _0\"></span>es<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y3756 w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(23)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3756 w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls208\">24</span>) </div></td></tr><tr><td class=\"c x1f9 y3757 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y3757 w24 hfd\"><div class=\"t m0 x19b hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3757 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dd\">57</span>) </div></td></tr><tr><td class=\"c x1f9 y3758 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1e1 ws1\">Net debt<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y3758 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3758 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,<span class=\"ls1e0\">647</span><span class=\"ls1e0\"><span class=\"ls1\"> </span></span></div></td></tr></table></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls247 ws1 gs38c\">Fair value and book va<span class=\"_ _0\"></span>lue of net debt<span class=\"ls1\"> </span></div><div class=\"gs38d\"><table class=\"s w190 h17b\" id=\"_cf63e6f2-7c49-4c39-9cbd-cd23b2204f11\"><tr><td></td><td></td><td class=\"c x1e5 y3742 w22 hf8\"><div class=\"t m0 x163 hf9 y2947 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y3742 w22 hf8\"><div class=\"t m0 x163 hf9 y2947 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x334 y3743 w181 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x335 y3743 w191 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls216 ws1\">Book value<span class=\"_ _216\"> </span></div></td><td class=\"c x336 y3743 w192 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Difference<span class=\"_ _216\"> </span></div></td><td class=\"c x337 y3743 w182 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x338 y3743 w193 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls216 ws1\">Book value<span class=\"_ _216\"> </span></div></td><td class=\"c x339 y3743 w194 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Difference<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f3 y3744 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f4 y3744 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f5 y3744 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x235 y3744 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x33a y3744 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3744 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3745 w33 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls20a ws1\">Debentures and<span class=\"_ _1\"></span> unsecured bonds<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3745 w24 hfe\"><div class=\"t m0 x178 hfb y28f5 ff42 fsba fc11 sc0 ls1df ws1\">1,<span class=\"ls1d7\">592</span><span class=\"ls1d7\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fa y3745 w24 hfe\"><div class=\"t m0 x178 hfb y28f5 ff42 fsba fc11 sc0 ls1df ws1\">1,624<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3745 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f5 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3745 w24 hfe\"><div class=\"t m0 x1b0 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">1,643<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3745 w24 hfe\"><div class=\"t m0 x1b0 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">1,685<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3745 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f5 ff3f fsba fc4 sc0 ls1db ws1\">(42)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3746 w33 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">Bank debt and oth<span class=\"_ _1\"></span>er floating rat<span class=\"_ _1\"></span>e debt<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3746 w24 hfd\"><div class=\"t m0 x1b0 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">1,382<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3746 w24 hfd\"><div class=\"t m0 x1b0 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">1,372<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3746 w24 hfd\"><div class=\"t m0 x1ad hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3746 w24 hfd\"><div class=\"t m0 x1b0 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">1,054<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3746 w24 hfd\"><div class=\"t m0 x1b0 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">1,043<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3746 w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3747 w33 hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls20a ws1\">Gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3747 w24 hfe\"><div class=\"t m0 x1a5 hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">2,974<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3747 w24 hfe\"><div class=\"t m0 x1a5 hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">2,996<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3747 w24 hfe\"><div class=\"t m0 x1a3 hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3747 w24 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1ea ws1\">2,697<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3747 w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff3f fsba fc4 sc0 ls1ea ws1\">2,728<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3747 w24 hfe\"><div class=\"t m0 x192 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3748 w33 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> <span class=\"ls1e6\">currency derivative liabil<span class=\"_ _1\"></span>ities</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1e5 y3748 w24 hfe\"><div class=\"t m0 x192 hfb y2914 ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3748 w24 hfe\"><div class=\"t m0 x192 hfb y2914 ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3748 w24 hfe\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3748 w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3748 w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3748 w24 hfe\"><div class=\"t m0 x1 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3749 w33 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency derivativ<span class=\"_ _0\"></span>e assets<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3749 w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3749 w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3749 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3749 w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3749 w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3749 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y374a w33 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y374a w24 hfd\"><div class=\"t m0 x196 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y374a w24 hfd\"><div class=\"t m0 x19b hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y374a w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y374a w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y374a w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y374a w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1fe y374b w195 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1e1 ws1\">Net debt att<span class=\"_ _1\"></span>ributable to <span class=\"_ _1\"></span>shareholders<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w196 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1eb ws1\">of the Company<span class=\"_ _216\"> </span></div></td><td class=\"c x1e5 y374c w24 h102\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,<span class=\"ls1dd\">775</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fa y374c w24 h102\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y374c w24 h102\"><div class=\"t m0 x1a3 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">(2<span class=\"ls1d7\">2</span><span class=\"ls1d7\">)</span> </div></td><td class=\"c x1e6 y374c w24 h102\"><div class=\"t m0 x1b0 hfb y28d7 ff3f fsba fc4 sc0 ls1ea ws1\">2,616<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y374c w24 h102\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls1ea ws1\">2,647<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y374c w24 h102\"><div class=\"t m0 x192 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs38e\">The fair values<span class=\"_ _1\"></span> of debentures and unsecure<span class=\"_ _1\"></span>d bonds have been establi<span class=\"_ _1\"></span>shed by obtaining quoted marke<span class=\"_ _1\"></span>t prices from </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs38f\">brokers. The bank <span class=\"_ _1\"></span>debt and other float<span class=\"_ _1\"></span>ing rate debt has be<span class=\"_ _1\"></span>en valued assuming it<span class=\"_ _1\"></span> could be renegotiate<span class=\"_ _1\"></span>d at contracted </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs390\">margins<span class=\"_ _1\"></span>. The d<span class=\"_ _1\"></span>erivati<span class=\"_ _1\"></span>ves have<span class=\"_ _1\"></span><span class=\"ls1\"> <span class=\"ls234\">been valued by calculat<span class=\"_ _1\"></span>ing the present val<span class=\"_ _1\"></span>ue of expected futur<span class=\"_ _1\"></span>e cash flows, usi<span class=\"_ _1\"></span>ng </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs391\">appropriate market discount rates, <span class=\"_ _1\"></span>by a third party<span class=\"ls1\">. </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20c ws1 gs392\">Short term debtors <span class=\"_ _1\"></span>and creditors and other <span class=\"_ _1\"></span>investments have been excl<span class=\"_ _1\"></span>uded from the disclosure<span class=\"_ _1\"></span>s on the basis that<span class=\"_ _1\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs393\">the<span class=\"ls1\"> <span class=\"ls231\">fai</span></span>r value is <span class=\"ls233\">materiall<span class=\"_ _1\"></span>y <span class=\"ls223\">equivalent to t<span class=\"_ _1\"></span>he book value. The fair value <span class=\"_ _1\"></span>hierarchy level of debt held <span class=\"_ _1\"></span>at amortised cost </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs394\">is<span class=\"ls1\"> <span class=\"ls24b\">Level 2 (as</span> <span class=\"ls234\">defined in <span class=\"_ _1\"></span>Note 10).<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls234\"><span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls282 ws1 gs396\">Loan to <span class=\"ls1\">v<span class=\"ls23f\">alue (LTV)</span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24b ws1 gs397\">LTV is the rati<span class=\"_ _1\"></span>o of principal amount of <span class=\"_ _1\"></span>gross debt less <span class=\"ls226\">cash, short ter<span class=\"_ _1\"></span>m deposits and liquid investments to the aggregate </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs398\">value of properties and i<span class=\"_ _1\"></span>nvestments<span class=\"ls235\">. <span class=\"ls24a\">EPRA LTV has been discl<span class=\"_ _1\"></span>osed in Table E. <span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls237 ws1 gs399\">Group LTV<span class=\"ls1\"> </span></div><div class=\"gs39a\"><table class=\"s w199 h17e\" id=\"_1022423e-e959-4c69-8da7-9f9d88813595\"><tr><td></td><td class=\"c x32d y3761 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3761 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3762 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3762 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3763 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff42 fsba fc4 sc0 ls20a ws1\">Group LTV<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3763 w24 hfd\"><div class=\"t m0 x1a7 hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">32.1%<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3763 w24 hfd\"><div class=\"t m0 x178 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">31.7%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3764 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3764 w24 hfe\"><div class=\"t m0 x198 hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">3,006<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3764 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">2,740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3765 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits <span class=\"_ _1\"></span>(<span class=\"ls1e6\">consolidated <span class=\"ls1e3\">statement of cash flows</span><span class=\"ls1e3\">)<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x144 hff y2ec6 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x193 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3765 w24 hfd\"><div class=\"t m0 x19a hfb y29a1 ff42 fsba fc11 sc0 ls1da ws1\">(131)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3765 w24 hfd\"><div class=\"t m0 x192 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3766 w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt for <span class=\"_ _1\"></span>LTV calculation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3766 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,875<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3766 w24 hfe\"><div class=\"t m0 x1a6 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">2,719<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3767 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation (Note 1<span class=\"_ _1\"></span>0)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3767 w24 hfd\"><div class=\"t m0 x178 hfb y28dd ff42 fsba fc11 sc0 ls1eb ws1\">6,316<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3767 w24 hfd\"><div class=\"t m0 x1a7 hfb y28dd ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3768 w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1d5 ws1\">Investments in jo<span class=\"_ _0\"></span>int ventures (Not<span class=\"_ _0\"></span>e 11)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3768 w24 hfd\"><div class=\"t m0 x1a6 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">2,611<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3768 w24 hfd\"><div class=\"t m0 x1a7 hfb y28ef ff3f fsba fc4 sc0 ls208 ws1\">2,462<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3769 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls204 ws1\">Other <span class=\"ls1e5\">investments and prop<span class=\"_ _0\"></span>erty, plant and eq<span class=\"_ _0\"></span>uipment (<span class=\"ls1e6\">consolidated <span class=\"ls1eb\">balance sheet</span><span class=\"ls1eb\">)<span class=\"_ _216\"> </span></span></span></span></div><div class=\"t m0 x3b hff y2986 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x12b hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3769 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff42 fsba fc11 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3769 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376a w25 hfd\"><div class=\"t m0 x0 hfb y292f ff42 fsba fc4 sc0 ls1e0 ws1\">Total assets for LTV <span class=\"_ _1\"></span>calculation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376a w24 hfd\"><div class=\"t m0 x1a5 hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">8,965<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376a w24 hfd\"><div class=\"t m0 x178 hfb y292f ff3f fsba fc4 sc0 ls1d7 ws1\">8,<span class=\"ls1dd\">577</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td></tr></table></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs39b\">Proportionally consol<span class=\"_ _0\"></span>idated LTV<span class=\"ls1\"> </span></div><div class=\"gs39c\"><table class=\"s w198 h17d\" id=\"_4e174663-9eab-4c93-87e4-df82c2fd89be\"><tr><td></td><td class=\"c x32d y348e w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y348e w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y348f w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y348f wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3759 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1eb ws1\">Proportionally consol<span class=\"_ _1\"></span>idated LTV<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3759 w24 hfe\"><div class=\"t m0 x198 hfb y28e1 ff42 fsba fc11 sc0 ls1dd ws1\">39.2%<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3759 w24 hfe\"><div class=\"t m0 x178 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">38.1%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375a w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y375a w24 hfe\"><div class=\"t m0 x178 hfb y28f3 ff42 fsba fc11 sc0 ls1e9 ws1\">4,157<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375a w24 hfe\"><div class=\"t m0 x178 hfb y28f3 ff3f fsba fc4 sc0 ls1dd ws1\">3,738<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375b w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits<span class=\"_ _216\"> </span></div><div class=\"t m0 x84 hff y29b3 ff44 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x122 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y375b w24 hfd\"><div class=\"t m0 x19b hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(195)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375b w24 hfd\"><div class=\"t m0 x19a hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(101)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375c w25 hfd\"><div class=\"t m0 x0 hfb y2c1d ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt for <span class=\"_ _1\"></span>proportional LTV calculation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y375c w24 hfd\"><div class=\"t m0 x1a7 hfb y2c1d ff42 fsba fc11 sc0 ls1dd ws1\">3,962<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375c w24 hfd\"><div class=\"t m0 x178 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">3,637<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375d w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation (Note 1<span class=\"_ _1\"></span>0)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y375d w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">6,31<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375d w24 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375e w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1ed ws1\">Share of property of j<span class=\"_ _1\"></span>oint ventures (Note 10)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y375e w24 hfd\"><div class=\"t m0 x1a5 hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">3,74<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375e w24 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">3,421<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375f w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments and <span class=\"_ _1\"></span>property, p<span class=\"_ _1\"></span>lant and equ<span class=\"_ _1\"></span>ipment (<span class=\"ls1e6\">consolidated <span class=\"ls1eb\">balance sh<span class=\"_ _1\"></span>eet</span><span class=\"ls1eb\">)<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x3b hff y2cf3 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x12b hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y375f w24 hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff42 fsba fc11 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375f w24 hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3760 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff42 fsba fc4 sc0 ls1e0 ws1\">Total assets for pr<span class=\"_ _1\"></span>oportional LTV calculation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3760 w24 hfd\"><div class=\"t m0 x199 hfb y28dd ff42 fsba fc11 sc0 ls1df ws1\">10,10<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3760 w24 hfd\"><div class=\"t m0 x1a7 hfb y28dd ff3f fsba fc4 sc0 ls1e0 ws1\">9,536<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs39d\">1. <span class=\"_ _24\"> </span><span class=\"ls290\">Cash and short term depo<span class=\"_ _1\"></span>sits exclude tenant de<span class=\"_ _1\"></span>posits of <span class=\"ls1\">\u00a3<span class=\"ls1f2\">45<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>36<span class=\"ls1f5\">m). </span> </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs39e\">2. <span class=\"ls1fb\">The \u00a3<span class=\"ls1fd\">13<span class=\"ls1f5\">m (202</span></span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>14<span class=\"ls1f5\">m) differen<span class=\"_ _1\"></span>ce between oth<span class=\"_ _1\"></span>er investment<span class=\"_ _1\"></span>s and plant,<span class=\"_ _1\"></span> property and <span class=\"_ _1\"></span>equipment per <span class=\"_ _1\"></span>the<span class=\"ls1\"> <span class=\"ls1f4\">consolidated</span> <span class=\"ls1f2\">balance </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls202 ws1 gs39f\">sheet totalling \u00a3<span class=\"ls203\">51<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fb\">64</span></span></span>m) relat<span class=\"_ _1\"></span>es to a rig<span class=\"_ _1\"></span>ht<span class=\"ls1\">-<span class=\"ls1fb\">of</span>-<span class=\"ls200\">use asset recognised under a lease which i<span class=\"_ _1\"></span>s classified as property, plant </span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f4 ws1 gs3a0\">and equipment which<span class=\"ls1\"> <span class=\"ls1f9\">is not included with<span class=\"_ _0\"></span>in </span>t<span class=\"ls1fb\">otal assets for the purposes of<span class=\"_ _1\"></span> the LTV calculation. <span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs3a1\">3. <span class=\"ls290\">Cash and sho<span class=\"_ _1\"></span>rt term deposits excl<span class=\"_ _1\"></span>ude tenant dep<span class=\"ls1fb\">osits of \u00a3<span class=\"ls1fe\">77<span class=\"ls1f5\">m (20<span class=\"_ _1\"></span>2<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fb\">64</span></span></span>m). </span></span></span></span><span class=\"ls290\"><span class=\"ls1fb\"><span class=\"ls1fe\"><span class=\"ls1f5\"><span class=\"ls1\"> </span></span></span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls26e ws1 gs3a3\">Net Debt to <span class=\"_ _0\"></span>EBITDA<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs3a4\">Net Debt t<span class=\"_ _1\"></span>o EBITDA is <span class=\"_ _1\"></span>the ratio <span class=\"_ _1\"></span>of princi<span class=\"_ _1\"></span>pal amount o<span class=\"_ _1\"></span>f gross deb<span class=\"_ _1\"></span>t less cas<span class=\"_ _1\"></span>h, short <span class=\"_ _1\"></span>term deposit<span class=\"_ _1\"></span>s and liqu<span class=\"_ _1\"></span>id investment<span class=\"_ _1\"></span>s </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs3a5\">to earnings before interest, tax, de<span class=\"_ _0\"></span>preciation and amortisation (E<span class=\"_ _0\"></span>BITDA). <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3a6\">The Group ratio excl<span class=\"_ _1\"></span>udes joint venture <span class=\"_ _1\"></span>borrowings and include<span class=\"ls224\">s distributions and other receivables fr<span class=\"_ _1\"></span>om joint ventures. <span class=\"ls1\"> </span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls237 ws1 gs3a7\">Group Net Debt <span class=\"_ _0\"></span>to EBITDA<span class=\"ls1\"> </span></div><div class=\"gs3a8\"><table class=\"s w19a h180\" id=\"_dd610acc-5f6d-4c62-acc2-863a8f3c95c1\"><tr><td></td><td class=\"c x32d y3772 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3772 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3773 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3773 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3774 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls20a ws1\">Group Net Debt <span class=\"_ _1\"></span>to EBITDA<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3774 w24 hfd\"><div class=\"t m0 x19b hfb y28f7 ff42 fsba fc11 sc0 ls1dd ws1\">7.<span class=\"ls1\">7x</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3774 w24 hfd\"><div class=\"t m0 x19b hfb y28f7 ff3f fsba fc4 sc0 ls1d7 ws1\">8.0x<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3775 w25 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3775 w24 hfe\"><div class=\"t m0 x198 hfb y2914 ff42 fsba fc11 sc0 ls1dd ws1\">3,006<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3775 w24 hfe\"><div class=\"t m0 x1a7 hfb y2914 ff3f fsba fc4 sc0 ls208 ws1\">2,740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3776 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits <span class=\"_ _1\"></span>(<span class=\"ls1e6\">consolidated <span class=\"ls1e3\">statement of cash <span class=\"ls1e7\">flows</span></span><span class=\"ls1e3\"><span class=\"ls1e7\">)<span class=\"_ _216\"> </span></span></span></span></div><div class=\"t m0 x144 hff y2ed6 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x193 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3776 w24 hfe\"><div class=\"t m0 x19a hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(131)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3776 w24 hfe\"><div class=\"t m0 x192 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3777 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt for <span class=\"ls1\">G<span class=\"ls1e8\">roup Net Debt to EBITDA calculation</span></span><span class=\"ls1\"><span class=\"ls1e8\"> </span> </span></div></td><td class=\"c x1fc y3777 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">2,875<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3777 w24 hfe\"><div class=\"t m0 x1a6 hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">2,719<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3778 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying Pr<span class=\"_ _1\"></span>ofit (Table A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3778 w24 hfe\"><div class=\"t m0 x19d hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">294<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3778 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">279<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3779 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1eb ws1\">Plus Net financi<span class=\"_ _1\"></span>ng charges (Note 6)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3779 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">85<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3779 w24 hfd\"><div class=\"t m0 x192 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">60<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y377a w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">Less Underlying Profit due t<span class=\"_ _1\"></span>o joint ventures<span class=\"_ _216\"> </span></div><div class=\"t m0 x17f hff y2ed7 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 xa1 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y377a w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(76)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y377a w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(90)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y377b w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1eb ws1\">Plus<span class=\"ls1\"> </span>distributions <span class=\"_ _1\"></span>and other receivables <span class=\"_ _1\"></span>from joint ventures<span class=\"_ _216\"> </span></div><div class=\"t m0 xd9 hff y290d ff44 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x79 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y377b w24 hfd\"><div class=\"t m0 x192 hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">66 </div></td><td class=\"c x1fd y377b w24 hfd\"><div class=\"t m0 x1a2 hfb y28e8 ff3f fsba fc4 sc0 ls1d7 ws1\">84<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y377c w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1eb ws1\">Plus depreciation <span class=\"_ _1\"></span>and amortisation (Table <span class=\"_ _1\"></span>A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y377c w24 hfe\"><div class=\"t m0 x1aa hfb y28f5 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fd y377c w24 hfe\"><div class=\"t m0 x1 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td class=\"c x1f9 y377d w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total EBITDA for <span class=\"ls1\">G<span class=\"ls1e8\">roup Net Debt to EBITDA calculatio<span class=\"_ _0\"></span>n</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y377d w24 hfd\"><div class=\"t m0 x19a hfb y28f7 ff42 fsba fc11 sc0 ls1dd ws1\">37<span class=\"ls1\">4</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y377d w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1dd ws1\">341<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs3a9\">Proportiona<span class=\"ls240\">lly<span class=\"ls1\"> <span class=\"ls242\">consolidated Net Debt to EBITDA</span> </span></span></div><div class=\"gs3aa\"><table class=\"s w198 h17f\" id=\"_147b16d5-70c6-43a3-b5a1-69d41a7026eb\"><tr><td></td><td class=\"c x32d y3761 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3761 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3762 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3762 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y376b w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff42 fsba fc4 sc0 ls1eb ws1\">Proportionally consol<span class=\"_ _1\"></span>idated Net Debt to EBITDA<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376b w24 hfe\"><div class=\"t m0 x19b hfb y28f5 ff42 fsba fc11 sc0 ls1eb ws1\">9.2x<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376b w24 hfe\"><div class=\"t m0 x19d hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">9.3x<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376c w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376c w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1e9 ws1\">4,157<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376c w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">3,738<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y359e w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits<span class=\"_ _216\"> </span></div><div class=\"t m0 x84 hff y2eda ff44 fsbc fc4 sc0 ls1 ws1\">4</div><div class=\"t m0 x122 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y359e w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(195)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y359e w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(101)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376d w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt for <span class=\"_ _1\"></span>proportional Net Debt to EBITDA cal<span class=\"_ _1\"></span>culation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376d w24 hfe\"><div class=\"t m0 x1a7 hfb y2943 ff42 fsba fc11 sc0 ls1dd ws1\">3,962<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376d w24 hfe\"><div class=\"t m0 x178 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">3,637<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376e w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying Pr<span class=\"_ _1\"></span>ofit <span class=\"ls1db\">(Table A)<span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y376e w24 hfe\"><div class=\"t m0 x19d hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">294<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376e w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">279<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376f w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1eb ws1\">Plus Net financi<span class=\"_ _1\"></span>ng charges (Table A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376f w24 hfd\"><div class=\"t m0 x1a3 hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">133<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376f w24 hfd\"><div class=\"t m0 x1a3 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">103<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3770 w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1eb ws1\">Plus depreciation <span class=\"_ _1\"></span>and amortisation (Table <span class=\"_ _1\"></span>A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3770 w24 hfe\"><div class=\"t m0 x1aa hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fd y3770 w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td class=\"c x1f9 y3771 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls1e0 ws1\">Total EBITDA for proporti<span class=\"_ _1\"></span>onal Net Debt to EBITDA calculat<span class=\"_ _1\"></span>ion<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3771 w24 hfe\"><div class=\"t m0 x19d hfb y28e6 ff42 fsba fc11 sc0 ls1e9 ws1\">432<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3771 w24 hfe\"><div class=\"t m0 x19d hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">390<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs3ab\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls290\">Cash and short ter<span class=\"_ _1\"></span>m<span class=\"ls1\"> <span class=\"ls1f2\">deposits exclude tenant deposits of \u00a345<span class=\"ls1f5\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>36</span>m). <span class=\"ls1\"> </span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fe ws1 gs3ac\">2.<span class=\"ls1\"> <span class=\"ls297\">Underlying Pr<span class=\"_ _1\"></span>ofit due to joint<span class=\"_ _1\"></span> ventures<span class=\"ls1\"> <span class=\"ls1fb\">of</span> \u00a3<span class=\"ls1fe\">76<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>90<span class=\"ls1f5\">m) <span class=\"ls1fc\">(consolidated</span></span> <span class=\"ls1f9\">income st<span class=\"_ _0\"></span>atement</span>)<span class=\"ls1f7\">. </span> </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls203 ws1 gs3ad\">3.<span class=\"ls1\"> <span class=\"ls1f1\">Includes d<span class=\"ls1f9\">istributions and other re<span class=\"_ _0\"></span>ceivables from joint v<span class=\"_ _0\"></span>entures <span class=\"ls1fb\">of</span></span></span> \u00a361<span class=\"ls1f5\">m (202</span>4<span class=\"ls1f6\">/2</span>5 \u00a372<span class=\"_ _0\"></span><span class=\"ls1f5\">m) </span>(<span class=\"ls1f4\">consolidated statement of cash flows</span>) <span class=\"ls1f4\">and</span> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs3ae\">f<span class=\"ls1fe\">ees and other income received from joint ventures</span> <span class=\"ls1fb\">of</span> \u00a35m <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>12<span class=\"ls1f5\">m).</span> </div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs3af\">4.<span class=\"ls1\"> <span class=\"_ _6\"></span><span class=\"ls290\">Cash and short term deposits exclude<span class=\"_ _1\"></span> tenant deposits of <span class=\"_ _1\"></span>\u00a3<span class=\"ls1fe\">77<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fb\">64</span></span></span>m). <span class=\"ls1\"> </span></span></span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls21f ws1 gs3b1\">British Land Uns<span class=\"_ _0\"></span>ecured Financial Coven<span class=\"_ _0\"></span>ants<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3b2\">The two financial<span class=\"_ _1\"></span> covenants applicable <span class=\"_ _1\"></span>to the Group unsecured debt <span class=\"_ _1\"></span>are shown below:<span class=\"ls1\"> </span></div><div class=\"gs3b3\"><table class=\"s w199 h182\" id=\"_7aff0403-c71f-4b9e-8db7-9c65f4489ea0\"><tr><td></td><td class=\"c x32d y3785 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3785 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3786 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3786 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3787 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1e1 ws1\">Net Borrowings<span class=\"_ _1\"></span> not to exceed <span class=\"_ _1\"></span>175% of Adjusted <span class=\"_ _1\"></span>Capital and <span class=\"ls1d6\">Reser<span class=\"_ _1\"></span>ves</span><span class=\"ls1d6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3787 w24 hfd\"><div class=\"t m0 x19b hfb y292b ff42 fsba fc11 sc0 ls1e9 ws1\">48%<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3787 w24 hfd\"><div class=\"t m0 x19b hfb y292b ff3f fsba fc4 sc0 ls1d8 ws1\">47%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3788 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3788 w24 hfe\"><div class=\"t m0 x198 hfb y28e1 ff42 fsba fc11 sc0 ls1dd ws1\">3,006<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3788 w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">2,740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3789 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits <span class=\"_ _1\"></span>(<span class=\"ls1e6\">consolidated <span class=\"ls1e3\">statement of cash flows</span><span class=\"ls1e3\">)<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x144 hff y28e4 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x193 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3789 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(131)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3789 w24 hfd\"><div class=\"t m0 x192 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y378a w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e1 ws1\">Net Borrowings<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y378a w24 hfe\"><div class=\"t m0 x1a7 hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">2,875<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378a w24 hfe\"><div class=\"t m0 x1a6 hfb y28f3 ff3f fsba fc4 sc0 ls208 ws1\">2,719<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y378b w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1ed ws1\">Share capital and reserv<span class=\"_ _1\"></span>es (<span class=\"ls1e6\">consolidated <span class=\"ls1eb\">balance sheet</span><span class=\"ls1eb\">)<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x1fc y378b w24 hfe\"><div class=\"t m0 x1a7 hfb y28f5 ff42 fsba fc11 sc0 ls1d7 ws1\">5,932<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378b w24 hfe\"><div class=\"t m0 x1b0 hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">5,<span class=\"ls208\">710</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y378c w25 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls20a ws1\">Deferred tax<span class=\"_ _1\"></span> liabiliti<span class=\"_ _1\"></span>es (Table A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y378c w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y378c w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td></tr><tr><td class=\"c x1f9 y378d w25 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1e0 ws1\">Trading property<span class=\"ls1\"> <span class=\"ls1e3\">surplus</span> <span class=\"ls1db\">(Table A)</span> </span></div></td><td class=\"c x1fc y378d w24 hfe\"><div class=\"t m0 x1a4 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">12<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378d w24 hfe\"><div class=\"t m0 x1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td></tr><tr><td class=\"c x1f9 y378e w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">Exceptional refin<span class=\"_ _1\"></span>ancing charges (see below)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y378e w24 hfd\"><div class=\"t m0 x1a2 hfb y29a1 ff42 fsba fc11 sc0 ls1eb ws1\">95<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378e w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">107<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y378f w25 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls214 ws1\">Fair value adjust<span class=\"_ _1\"></span>ments of financial ins<span class=\"_ _1\"></span>truments (Table A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y378f w24 hfe\"><div class=\"t m0 x1a3 hfb y2914 ff42 fsba fc11 sc0 ls1da ws1\">(27)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378f w24 hfe\"><div class=\"t m0 x1a3 hfb y2914 ff3f fsba fc4 sc0 ls1db ws1\">(23)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3790 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1e1 ws1\">Adjusted Capi<span class=\"_ _1\"></span>tal and Reserve<span class=\"_ _1\"></span>s<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3790 w24 hfd\"><div class=\"t m0 x1a7 hfb y292b ff42 fsba fc11 sc0 ls1eb ws1\">6,016<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3790 w24 hfd\"><div class=\"t m0 x1b0 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">5,<span class=\"ls1d7\">801</span><span class=\"ls1d7\"><span class=\"ls1\"> </span></span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs3b4\">In <span class=\"ls226\">calculating Adjusted Capital and Reserves <span class=\"_ _1\"></span>for the purpose of the unsecured debt financial <span class=\"_ _1\"></span>covenants, there is an </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs3b5\">adjustment of \u00a3<span class=\"ls220\">95<span class=\"ls233\">m (20<span class=\"_ _1\"></span>2<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>10<span class=\"_ _0\"></span>7</span>m) to r<span class=\"_ _1\"></span>eflect <span class=\"_ _1\"></span>the cumu<span class=\"_ _1\"></span>lative <span class=\"_ _1\"></span>net amor<span class=\"_ _1\"></span>tised<span class=\"ls1\"> <span class=\"ls223\">exceptional it<span class=\"_ _1\"></span>ems relating to the </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs3b6\">refinancings in the years end<span class=\"_ _0\"></span>ed 31 March 2005, 200<span class=\"_ _0\"></span>6 and 2007.<span class=\"ls1\"> </span></div><div class=\"gs3b7\"><table class=\"s w199 h181\" id=\"_1f72f7f2-5d55-4652-8f42-ef1d77af07a3\"><tr><td></td><td class=\"c x32d y377e w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y377e w19b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1 ws1\">2<span class=\"ls216\">02</span>5<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f7 y377f w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y377f wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3780 w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls1e1 ws1\">Net Unsecured <span class=\"_ _1\"></span>Borrowings not t<span class=\"_ _1\"></span>o exceed 70% of Un<span class=\"_ _1\"></span>encumbered Assets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3780 w24 hfd\"><div class=\"t m0 x196 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">44%<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3780 w24 hfd\"><div class=\"t m0 x19b hfb y28ef ff3f fsba fc4 sc0 ls1d8 ws1\">43%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3781 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3781 w24 hfd\"><div class=\"t m0 x198 hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">3,006<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3781 w24 hfd\"><div class=\"t m0 x1a7 hfb y292f ff3f fsba fc4 sc0 ls208 ws1\">2,740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3782 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits <span class=\"_ _1\"></span>not subject to a security inter<span class=\"_ _1\"></span>est <span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3782 w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(131)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3782 w24 hfe\"><div class=\"t m0 x192 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3783 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">Less principal amount of secured <span class=\"_ _1\"></span>and non<span class=\"ls1\">-<span class=\"ls1ee\">recourse borrowing<span class=\"_ _0\"></span>s</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3783 w24 hfd\"><div class=\"t m0 x1b0 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(480)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3783 w24 hfd\"><div class=\"t m0 x19b hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(501)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3784 w25 hfd\"><div class=\"t m0 x0 hfb y2c1d ff42 fsba fc4 sc0 ls1e1 ws1\">Net Unsecured <span class=\"_ _1\"></span>Borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3784 w24 hfd\"><div class=\"t m0 x1a7 hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">2,395<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3784 w24 hfd\"><div class=\"t m0 x1a6 hfb y2c1d ff3f fsba fc4 sc0 ls208 ws1\">2,218<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y354f w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation (Note 1<span class=\"_ _1\"></span>0)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y354f w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">6,316<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y354f w24 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3550 w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d5 ws1\">Investments in jo<span class=\"_ _0\"></span>int ventures (Not<span class=\"_ _0\"></span>e 11)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3550 w24 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">2,611<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3550 w24 hfd\"><div class=\"t m0 x1a7 hfb y2928 ff3f fsba fc4 sc0 ls208 ws1\">2,462<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3551 w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments and <span class=\"_ _1\"></span>property, p<span class=\"_ _1\"></span>lant and equ<span class=\"_ _1\"></span>ipment (<span class=\"ls1e6\">consolidated <span class=\"ls1eb\">balance sh<span class=\"_ _1\"></span>eet</span><span class=\"ls1eb\">)<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x3b hff y2cf3 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x12b hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3551 w24 hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff42 fsba fc11 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3551 w24 hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3552 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">Less investments in joint<span class=\"_ _1\"></span> ventures<span class=\"ls1\"> <span class=\"ls1db\">(Note 11)</span> </span></div></td><td class=\"c x1fc y3552 w24 hfd\"><div class=\"t m0 x1a5 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(2,611)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3552 w24 hfd\"><div class=\"t m0 x1ae hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(2,462)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3553 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">Less encumbered assets (Note 10)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3553 w24 hfe\"><div class=\"t m0 x1c1 hfb y28d5 ff42 fsba fc11 sc0 ls1da ws1\">(925)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3553 w24 hfe\"><div class=\"t m0 x1a6 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(905)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3554 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1e2 ws1\">Unencumbered Assets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3554 w24 hfe\"><div class=\"t m0 x1a5 hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">5,429<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3554 w24 hfe\"><div class=\"t m0 x1b0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">5,210<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs3b8\">1. <span class=\"_ _24\"> </span><span class=\"ls290\">Cash and short term depo<span class=\"_ _1\"></span>sits exclude tenant de<span class=\"_ _1\"></span>posits of \u00a3<span class=\"ls1f2\">45<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>36</span>m). <span class=\"ls1\"> </span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs3b9\">2. <span class=\"ls1fb\">The \u00a3<span class=\"ls1fd\">13<span class=\"ls1f5\">m (202</span></span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>14<span class=\"ls1f5\">m) differen<span class=\"_ _1\"></span>ce between oth<span class=\"_ _1\"></span>er investment<span class=\"_ _1\"></span>s and plant,<span class=\"_ _1\"></span> property and <span class=\"_ _1\"></span>equipment per <span class=\"_ _1\"></span>the balance <span class=\"_ _1\"></span>sheet totall<span class=\"_ _1\"></span>ing </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs3ba\">\u00a3<span class=\"ls203\">51<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fb\">64<span class=\"ls1f5\">m) relates<span class=\"_ _1\"></span> to a right<span class=\"_ _1\"></span><span class=\"ls1\">-<span class=\"ls1fb\">of</span>-<span class=\"ls200\">use asset recognised under a lease which is cl<span class=\"_ _1\"></span>assified as property, plant and equipment </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls28f ws1 gs3bb\">which is not<span class=\"_ _1\"></span> includ<span class=\"ls1fe\">ed within <span class=\"ls200\">unencumbered <span class=\"ls1f4\">assets for t<span class=\"_ _1\"></span>he purposes of the covenant<span class=\"ls1\"> </span>calculation. </span></span></span><span class=\"ls1fe\"><span class=\"ls200\"><span class=\"ls1f4\"><span class=\"ls1\"> </span></span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls21f ws1 gs3bd\">Reconciliation of<span class=\"_ _0\"></span> movement in Group net debt<span class=\"_ _0\"></span> for the year en<span class=\"_ _0\"></span>ded 31 March 202<span class=\"ls1\">6 </span></div><div class=\"gs291\"><table class=\"s w1ae h185\" id=\"_ffa24af3-6afa-4bbe-a3de-f43e09719bda\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x357 y3791 w1af h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Arrangement<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"c x358 y3792 w1b0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Foreign<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x33e y3792 w1b1 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d5 ws1\">cost<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x359 y3793 w1b2 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x2d4 y3793 w1b3 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d3 ws1\">Cash flows<span class=\"_ _216\"> </span></div></td><td class=\"c x342 y3793 w1b4 h148\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Transfers</div><div class=\"t m0 x341 hfc y3465 ff40 fsbb fc11 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x35a y3793 w1b5 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls235 ws1\">exchange<span class=\"_ _216\"> </span></div></td><td class=\"c x26f y3793 w1b6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x24f y3793 w1b7 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1cf ws1\">amortisation<span class=\"_ _216\"> </span></div></td><td class=\"c x35b y3793 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x35c y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x345 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x346 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37aa w31 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1ed ws1\">Short term borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x35d y37aa w58 hfd\"><div class=\"t m0 x192 hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37aa w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(43)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37aa w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">247<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37aa w24 hfd\"><div class=\"t m0 x1aa hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1e6 y37aa w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y37aa w24 hfd\"><div class=\"t m0 x1aa hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y37aa w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">521<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ab w31 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">Long term borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x35d y37ab w58 hfe\"><div class=\"t m0 x1b0 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,417<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37ab w24 hfe\"><div class=\"t m0 x19d hfb y28d7 ff42 fsba fc11 sc0 ls1dd ws1\">30<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ab w24 hfe\"><div class=\"t m0 x1a6 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(247)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37ab w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37ab w24 hfe\"><div class=\"t m0 x8f hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ab w24 hfe\"><div class=\"t m0 x8f hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ab w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,475<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ac w31 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"_ _216\"> </span></div><div class=\"t m0 x1be hff y2982 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x6d hfb y292b ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x35d y37ac w58 hfd\"><div class=\"t m0 x1a3 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37ac w24 hfd\"><div class=\"t m0 x1ad hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ac w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y37ac w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y37ac w24 hfd\"><div class=\"t m0 x1aa hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x1fc y37ac w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37ac w24 hfd\"><div class=\"t m0 x1a3 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(23)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ad w31 h102\"><div class=\"t m0 x0 hfb y2cf6 ff3f fsba fc4 sc0 ls1e0 ws1\">Total liabili<span class=\"_ _1\"></span>ties from </div><div class=\"t m0 x0 hfb y2cf7 ff3f fsba fc4 sc0 ls1e7 ws1\">financing<span class=\"ls1\"> <span class=\"ls1e6\">activities<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 xc hff y2efa ff44 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x29 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x35d y37ad w58 h102\"><div class=\"t m0 x1a5 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">2,704<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37ad w24 h102\"><div class=\"t m0 x1a3 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">2<span class=\"ls1eb\">61</span> </div></td><td class=\"c x21d y37ad w24 h102\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y37ad w24 h102\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y37ad w24 h102\"><div class=\"t m0 x1aa hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fc y37ad w24 h102\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fd y37ad w24 h102\"><div class=\"t m0 x1a7 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">2,<span class=\"ls1eb\">973</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y37ae w31 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x35d y37ae w58 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(57)<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37ae w24 hfe\"><div class=\"t m0 x19d hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(119)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ae w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y37ae w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y37ae w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y37ae w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37ae w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37af w31 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1e1 ws1\">Net debt<span class=\"ls1\"> </span></div></td><td class=\"c x35d y37af w58 hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">2,647<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37af w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">1<span class=\"ls1e9\">42</span> </div></td><td class=\"c x21d y37af w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y37af w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y37af w24 hfe\"><div class=\"t m0 x1aa hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fc y37af w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fd y37af w24 hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">2,<span class=\"ls1dd\">797</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td></tr></table></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls21f ws1 gs3be\">Reconciliation of<span class=\"_ _0\"></span> movement in Group net debt<span class=\"_ _0\"></span> for the year en<span class=\"_ _0\"></span>ded 31 March 202<span class=\"ls1\">5 </span></div><div class=\"gs3bf\"><table class=\"s w19c h183\" id=\"_67e1c0c1-5e84-48b5-af1a-a908a94a842b\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x33c y3791 w19d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Arrangement<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"c x33d y3792 w19e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Foreign<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x33e y3792 w19f h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d5 ws1\">cost<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x33f y3793 w1a0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">4<span class=\"_ _216\"> </span></span></div></td><td class=\"c x340 y3793 w1a1 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Cash flows<span class=\"_ _216\"> </span></div></td><td class=\"c x342 y3793 w1a2 h148\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Transfers</div><div class=\"t m0 x341 hfc y3465 ff41 fsbb fc4 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x343 y3794 w1a3 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">exchange<span class=\"_ _216\"> </span></div></td><td class=\"c x337 y3793 w182 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x276 y3794 w1a4 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d5 ws1\">amortisation<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y3793 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x344 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x345 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x346 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3796 w22 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1ed ws1\">Short term borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3796 w24 hfe\"><div class=\"t m0 x1a4 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3796 w24 hfe\"><div class=\"t m0 x192 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3796 w24 hfe\"><div class=\"t m0 x192 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3796 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3796 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y3796 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3796 w24 hfe\"><div class=\"t m0 x192 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3797 w22 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">Long term borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3797 w24 hfd\"><div class=\"t m0 x1a7 hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">2,202 <span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3797 w24 hfd\"><div class=\"t m0 x19e hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">513<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3797 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(311)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3797 w24 hfd\"><div class=\"t m0 x1a4 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3797 w24 hfd\"><div class=\"t m0 x8f hfb y28dd ff3f fsba fc4 sc0 ls1ea ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3797 w24 hfd\"><div class=\"t m0 x1a4 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3797 w24 hfd\"><div class=\"t m0 x1a6 hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">2,417<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3798 w22 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"_ _216\"> </span></div><div class=\"t m0 x1be hff y2f06 ff44 fsbc fc4 sc0 ls1 ws1\">4</div><div class=\"t m0 x112 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x348 y3798 w24 hfd\"><div class=\"t m0 x1a3 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3798 w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1ea ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3798 w24 hfd\"><div class=\"t m0 x1 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3798 w24 hfd\"><div class=\"t m0 x1aa hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x1e6 y3798 w24 hfd\"><div class=\"t m0 x192 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(16)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3798 w24 hfd\"><div class=\"t m0 x1 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3798 w24 hfd\"><div class=\"t m0 x1a3 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3799 w22 h102\"><div class=\"t m0 x0 hfb y2d0e ff3f fsba fc4 sc0 ls1e0 ws1\">Total liabili<span class=\"_ _1\"></span>ties from </div><div class=\"t m0 x0 hfb y2d0f ff3f fsba fc4 sc0 ls1e7 ws1\">financing<span class=\"ls1\"> <span class=\"ls1e6\">activities<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 xc hff y2f08 ff44 fsbc fc4 sc0 ls1 ws1\">5</div><div class=\"t m0 x29 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x348 y3799 w24 h102\"><div class=\"t m0 x1b0 hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">2,169<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3799 w24 h102\"><div class=\"t m0 x19d hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">530<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3799 w24 h102\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3799 w24 h102\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3799 w24 h102\"><div class=\"t m0 x1aa hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fc y3799 w24 h102\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3799 w24 h102\"><div class=\"t m0 x1a7 hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">2,704<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y379a w22 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x348 y379a w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(88)<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y379a w24 hfe\"><div class=\"t m0 x1a4 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x21d y379a w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y379a w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y379a w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y379a w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y379a w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y379b w22 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1e1 ws1\">Net debt<span class=\"ls1\"> </span></div></td><td class=\"c x348 y379b w24 hfe\"><div class=\"t m0 x1b0 hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">2,081<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y379b w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">561<span class=\"ls1\"> </span></div></td><td class=\"c x21d y379b w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y379b w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y379b w24 hfe\"><div class=\"t m0 x1aa hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fc y379b w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y379b w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs3c0\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">Transfers comprises debt maturing f<span class=\"_ _1\"></span>rom long term to short term borrowings.<span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fe ws1 gs3c1\">2.<span class=\"ls1\"> <span class=\"ls290\">Cash flows on <span class=\"_ _1\"></span>derivatives include <span class=\"ls1fb\">\u00a314m<span class=\"fc13 ls1\"> </span>of <span class=\"_ _1\"></span>net receipts on derivative interest<span class=\"_ _1\"></span>.<span class=\"ls1\"> </span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls203 ws1 gs3c2\">3.<span class=\"ls1\"> <span class=\"ls290\">Cash f<span class=\"_ _1\"></span>lows of <span class=\"ls1fb\">\u00a3261m<span class=\"ls1\"> <span class=\"ls1f9\">includes repaymen<span class=\"_ _0\"></span>t of bank and other bo<span class=\"_ _0\"></span>rrowings of </span></span>\u00a3339m<span class=\"ls1f7\">, proce<span class=\"_ _0\"></span>eds from new borr<span class=\"_ _0\"></span>owings of </span>\u00a3372m<span class=\"ls1f7\">, </span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs3c3\">drawdowns on bank and other borrowings of<span class=\"_ _1\"></span> <span class=\"ls1fb\">\u00a335m<span class=\"ls1\"> (<span class=\"ls28f\">which includes <span class=\"_ _1\"></span><span class=\"ls1fb\">\u00a33m<span class=\"fc13 ls1\"> </span>of issue costs<span class=\"ls1\">)<span class=\"ls1f7\">, net drawdown o<span class=\"_ _0\"></span>f revolving credit facilit<span class=\"_ _0\"></span>ies </span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fb ws1 gs3c4\">of<span class=\"ls1\"> </span>\u00a3198m<span class=\"ls1\"> <span class=\"ls1f4\">an<span class=\"ls1f2\">d capital payments in respec<span class=\"_ _1\"></span>t of interest rate derivati<span class=\"_ _1\"></span>ves of <span class=\"ls1fb\">\u00a319m<span class=\"fc13 ls1\"> </span><span class=\"ls1f4\">as shown in the consolidated statement of cash flows, </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f4 ws1 gs3c5\">along with <span class=\"ls1fb\">\u00a314m<span class=\"fc13 ls1\"> </span>of net receipts on deri<span class=\"_ _1\"></span>vative interest.<span class=\"ls1\"> </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs3c6\">4.<span class=\"ls1\"> <span class=\"_ _6\"></span><span class=\"ls290\">Cash flows on derivatives include <span class=\"_ _1\"></span>\u00a3<span class=\"ls203\">37<span class=\"ls1f5\">m of net recei<span class=\"_ _1\"></span>pts on deri<span class=\"_ _1\"></span>vative inter<span class=\"_ _1\"></span>es<span class=\"ls1f3\">t.<span class=\"ls1\"> </span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls203 ws1 gs3c7\">5.<span class=\"ls1\"> <span class=\"ls290\">Cash f<span class=\"_ _1\"></span>lows of \u00a3530m includes r<span class=\"_ _1\"></span>epayment of bank and other <span class=\"_ _1\"></span>borrowings of \u00a3<span class=\"ls1fd\">132<span class=\"ls1f5\">m, proceed<span class=\"_ _1\"></span>s from new bor<span class=\"_ _1\"></span>rowings of \u00a3<span class=\"ls1fe\">297</span>m,<span class=\"_ _1\"></span> </span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs3c8\">drawdowns on bank and other borrowings of<span class=\"_ _1\"></span> \u00a3<span class=\"ls1fd\">138<span class=\"ls1\">m (<span class=\"ls28f\">which includes \u00a3</span>9<span class=\"ls1f5\">m of <span class=\"_ _1\"></span>issue costs<span class=\"ls1\">)<span class=\"ls1f7\">, net drawdown of revolving cred<span class=\"_ _0\"></span>it <span class=\"ls1f8\">facilities of </span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs3c9\">\u00a3<span class=\"ls1fd\">198<span class=\"ls1f5\">m and capital<span class=\"_ _1\"></span> payments in <span class=\"_ _1\"></span>respect of i<span class=\"_ _1\"></span>nterest rat<span class=\"_ _1\"></span>e derivative<span class=\"_ _1\"></span>s of \u00a3<span class=\"ls1\">8</span>m as shown<span class=\"_ _1\"></span> in the cons<span class=\"_ _1\"></span>olidated st<span class=\"_ _1\"></span>atement of cas<span class=\"_ _1\"></span>h flows, al<span class=\"_ _1\"></span>ong </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls28f ws1 gs3ca\">with \u00a3<span class=\"ls203\">37<span class=\"ls1f5\">m of n<span class=\"_ _1\"></span>et receipts <span class=\"_ _1\"></span>on derivati<span class=\"_ _1\"></span>ve interest.<span class=\"_ _1\"></span><span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls247 ws1 gs3cb\">Fair value hierarc<span class=\"_ _0\"></span>hy<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3cc\">The table below pr<span class=\"_ _1\"></span>ovides an analysis of <span class=\"_ _1\"></span>financial instruments<span class=\"_ _1\"></span> carried at fai<span class=\"_ _1\"></span>r value, by the va<span class=\"_ _1\"></span>luation method. The fai<span class=\"_ _1\"></span>r </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs3cd\">value hierarchy levels <span class=\"_ _1\"></span>are defined in Note 10.<span class=\"ls1\"> </span></div><div class=\"gs3ce\"><table class=\"s w1a5 h184\" id=\"_43ae2ca4-0d75-48a2-847a-1307ec2f5359\"><tr><td></td><td></td><td class=\"c x34a y379c w5d hf8\"><div class=\"t m0 x21 hf9 y2947 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td class=\"c x21f y379c w5d hf8\"><div class=\"t m0 x21 hf9 y2947 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x34b y379d w1a6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 1<span class=\"_ _216\"> </span></div></td><td class=\"c x34c y379d w1a7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 2<span class=\"_ _216\"> </span></div></td><td class=\"c x1ec y379d w105 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x34d y379d w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x34e y379d w1a8 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 1<span class=\"_ _216\"> </span></div></td><td class=\"c x34f y379d w1a9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 2<span class=\"_ _216\"> </span></div></td><td class=\"c x350 y379d w116 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x20a y379d wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x351 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x352 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x353 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x354 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x217 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x355 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x219 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e3 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y379f w1aa h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> <span class=\"ls1e6\">currency<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y37a0 w1ab h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">derivative<span class=\"ls1\"> <span class=\"ls1e6\">assets<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x34a y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a1 w28 h102\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a1 w28 h102\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a1 w28 h102\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a1 w28 h102\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a2 w5c h102\"><div class=\"t m0 x0 hfb y2c27 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments <span class=\"ls1\">\u2013 <span class=\"ls1e7\">fair value through </span></span></div><div class=\"t m0 x0 hfb y2c28 ff3f fsba fc4 sc0 ls1eb ws1\">profit or loss<span class=\"_ _1\"></span> (Note 12)<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a2 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a2 w28 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fa y37a2 w29 h102\"><div class=\"t m0 x1a7 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a2 w28 h102\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a2 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a2 w28 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x221 y37a2 w29 h102\"><div class=\"t m0 x1b0 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a2 w28 h102\"><div class=\"t m0 x1a6 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a3 w5c hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1e1 ws1\">Assets<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a3 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a3 w28 hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a3 w29 hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a3 w28 hfe\"><div class=\"t m0 x199 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">100)</span> </div></td><td class=\"c x21f y37a3 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a3 w28 hfe\"><div class=\"t m0 x178 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a3 w29 hfe\"><div class=\"t m0 x1b0 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a3 w28 hfe\"><div class=\"t m0 x198 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(123)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y37a4 w1ac h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y37a5 w1ad h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">derivative<span class=\"ls1\"> <span class=\"ls1e5\">liabilities<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x34a y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a6 w28 h102\"><div class=\"t m0 x1c1 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a6 w28 h102\"><div class=\"t m0 x1c1 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a6 w28 h102\"><div class=\"t m0 x196 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a6 w28 h102\"><div class=\"t m0 x196 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a7 w5c hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1dd ws1\">Liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a7 w28 hfe\"><div class=\"t m0 x1c1 hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a7 w28 hfe\"><div class=\"t m0 x1c1 hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a7 w28 hfe\"><div class=\"t m0 x196 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a7 w28 hfe\"><div class=\"t m0 x196 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a8 w5c hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a8 w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(23)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a8 w29 hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(55)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a8 w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a8 w29 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(65)<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls25b ws1 gs3d0\">Categories of<span class=\"_ _0\"></span> financial i<span class=\"_ _0\"></span>nstruments<span class=\"ls1\"> </span></div><div class=\"gs291\"><table class=\"s w1b8 h186\" id=\"_611554c1-2bed-4299-83ed-2b808b6cde38\"><tr><td></td><td class=\"c x32d y37b0 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37b0 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37b1 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37b1 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37b2 w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls214 ws1\">Financial assets<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y34dc w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff42 fsba fc4 sc0 ls1e1 ws1\">Amortised cost<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y37b3 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37b3 w24 hfd\"><div class=\"t m0 x1a3 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">176<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37b3 w24 hfd\"><div class=\"t m0 x1ad hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">57<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y34de w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1e0 ws1\">Trade and other debtors (<span class=\"_ _1\"></span>Note 13)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y34de w24 hfe\"><div class=\"t m0 x1a4 hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y34de w24 hfe\"><div class=\"t m0 x1a2 hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37b4 w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff42 fsba fc4 sc0 ls214 ws1\">Fair value through prof<span class=\"_ _1\"></span>it or loss<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y34e0 w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls20a ws1\">Derivatives <span class=\"_ _1\"></span>in designated <span class=\"_ _1\"></span>fair value h<span class=\"_ _1\"></span>edge accounting r<span class=\"_ _1\"></span>elationships<span class=\"_ _216\"> </span></div><div class=\"t m0 xb8 hff y2f22 ff44 fsbc fc4 sc0 ls29e ws1\">1,2</div><div class=\"t m0 xa9 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y34e0 w24 hfe\"><div class=\"t m0 x1bc hfb y28fc ff42 fsba fc11 sc0 ls1df ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y34e0 w24 hfe\"><div class=\"t m0 x1a4 hfb y28fc ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37b5 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls20a ws1\">Derivatives <span class=\"_ _1\"></span>not in design<span class=\"_ _1\"></span>ated hedge account<span class=\"_ _1\"></span>ing relationsh<span class=\"_ _1\"></span>ips<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37b5 w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">57<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37b5 w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff3f fsba fc4 sc0 ls1e0 ws1\">68<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y34e2 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments (Not<span class=\"_ _1\"></span>e 12)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y34e2 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y34e2 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f3 ff3f fsba fc4 sc0 ls1d8 ws1\">41<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y37b6 w24 hfe\"><div class=\"t m0 x19a hfb y28f5 ff42 fsba fc11 sc0 ls1d7 ws1\">297<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37b6 w24 hfe\"><div class=\"t m0 x19a hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">208<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37b7 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls214 ws1\">Financial liabi<span class=\"_ _1\"></span>lities<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y37b8 w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls1e1 ws1\">Amortised cost<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y37b9 w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d9 ws1\">Creditors (Note <span class=\"_ _1\"></span>14) <span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37b9 w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(19<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y37b9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(182)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ba w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls20a ws1\">Gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ba w24 hfe\"><div class=\"t m0 x199 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(2,996)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ba w24 hfe\"><div class=\"t m0 x194 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(2,728)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37bb w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabilities <span class=\"_ _1\"></span>(Notes 14 and 15) <span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37bb w24 hfd\"><div class=\"t m0 x196 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(10<span class=\"ls1\">9</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y37bb w24 hfd\"><div class=\"t m0 x19a hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">(1<span class=\"ls1dc\">14</span><span class=\"ls1dc\">)</span> </div></td></tr><tr><td class=\"c x1f9 y37bc w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls214 ws1\">Fair value through prof<span class=\"_ _1\"></span>it or loss<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y37bd w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls20a ws1\">Derivatives <span class=\"_ _1\"></span>in designated <span class=\"_ _1\"></span>fair value h<span class=\"_ _1\"></span>edge <span class=\"ls1e6\">accounting relationships<span class=\"_ _216\"> </span></span></div><div class=\"t m0 xb8 hff y2f29 ff44 fsbc fc4 sc0 ls29e ws1\">1,2</div><div class=\"t m0 xa9 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y37bd w24 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37bd w24 hfd\"><div class=\"t m0 x1a4 hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37be w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls20a ws1\">Derivatives <span class=\"_ _1\"></span>not in design<span class=\"_ _1\"></span>ated hedge account<span class=\"_ _1\"></span>ing relationsh<span class=\"_ _1\"></span>ips<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37be w24 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37be w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(52)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y37bf w24 hfe\"><div class=\"t m0 x199 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(3,34<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y37bf w24 hfe\"><div class=\"t m0 x1ae hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(3,082)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37c0 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c0 w24 hfd\"><div class=\"t m0 x1a1 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(3,05<span class=\"ls1\">0</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y37c0 w24 hfd\"><div class=\"t m0 x194 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(2,874)<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs3d1\">1. <span class=\"_ _24\"> </span><span class=\"ls1ff\">Derivative assets <span class=\"_ _1\"></span>and liabilities<span class=\"_ _1\"></span> in designated hedge <span class=\"_ _1\"></span>accounting relations<span class=\"_ _1\"></span>hips sit within t<span class=\"_ _1\"></span>he <span class=\"ls1f2\">derivative assets and deri<span class=\"_ _1\"></span>vative liabilities </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f2 ws1 gs3d2\">balances of the consolidate<span class=\"_ _1\"></span>d balance sheet.<span class=\"ls1\"> </span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1 ws1 gs3d3\">2. <span class=\"ls1fb\">The fair value of deriv<span class=\"_ _1\"></span>ative assets in designated hedge accounti<span class=\"_ _1\"></span>ng relationships represents the accumulat<span class=\"_ _1\"></span>ed amount of fair va<span class=\"ls1f9\">lue </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls200 ws1 gs3d4\">hedge adjustments on hedged items.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs3d5\">Gains and <span class=\"_ _1\"></span>losses on f<span class=\"_ _1\"></span>inancial i<span class=\"_ _1\"></span>nstruments, <span class=\"_ _1\"></span>as classed a<span class=\"_ _1\"></span>bove, are di<span class=\"_ _1\"></span>sclosed in <span class=\"_ _1\"></span>Note 6, Note <span class=\"_ _1\"></span>13, the <span class=\"_ _1\"></span>consolidated <span class=\"_ _1\"></span>income </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs3d6\">statement and the consolidated statement of comprehensive income. The Directors consider that the carrying amoun<span class=\"_ _0\"></span>ts </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3d7\">of other invest<span class=\"_ _1\"></span>ments a<span class=\"ls222\">re approximate to th<span class=\"_ _0\"></span>eir fair value, and that the carrying am<span class=\"_ _0\"></span>ounts are recoverable.<span class=\"ls1\"> </span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls25b ws1 gs3d8\">Capital ri<span class=\"_ _0\"></span>sk management<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3d9\">The capital st<span class=\"_ _1\"></span>ructure of the Group consi<span class=\"_ _1\"></span>sts of net debt and <span class=\"_ _1\"></span>equity attributabl<span class=\"_ _1\"></span>e to the equity hol<span class=\"_ _1\"></span>ders of The British <span class=\"_ _1\"></span>Land </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs3da\">Company PLC, compri<span class=\"_ _1\"></span>sing iss<span class=\"ls221\">ued capi<span class=\"_ _1\"></span>tal, reserves and retai<span class=\"_ _1\"></span>ned earnings. Risks relati<span class=\"_ _1\"></span>ng to capital structur<span class=\"_ _1\"></span>e are </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs3db\">addressed within Managing risk i<span class=\"_ _1\"></span>n delivering our strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58<span class=\"ls235\">. The Group\u2019s objec<span class=\"_ _0\"></span>tives, policies<span class=\"_ _0\"></span> and </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs3dc\">processes for managi<span class=\"_ _1\"></span>ng debt are set out <span class=\"_ _1\"></span>in the Financial<span class=\"_ _1\"></span> policies and pri<span class=\"_ _1\"></span>nciples on pages <span class=\"ls24a\">44<span class=\"ls1\"> <span class=\"ls222\">to </span></span>46<span class=\"ls235\">. </span></span><span class=\"ls24a\"><span class=\"ls235\"><span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls281 ws1 gs3dd\">Interest rate risk m<span class=\"_ _1\"></span>anagement<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3de\">The Group uses inter<span class=\"_ _1\"></span>est rate swaps and caps <span class=\"_ _1\"></span>to hedge exposure to the <span class=\"_ _1\"></span>variability i<span class=\"_ _1\"></span>n cash flows on floa<span class=\"_ _1\"></span>ting rate debt, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs3df\">such as revolving <span class=\"ls226\">credit <span class=\"ls231\">facilities, caused by move<span class=\"_ _0\"></span>ments in mark<span class=\"ls223\">et rates of interest. The Group\u2019s <span class=\"_ _1\"></span>objectives and </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs3e0\">processes for managi<span class=\"_ _1\"></span>ng interest rate <span class=\"_ _1\"></span>risk are set out<span class=\"_ _1\"></span> in the Financial<span class=\"_ _1\"></span> policies and pr<span class=\"_ _1\"></span>inciples on pages <span class=\"ls24a\">44 <span class=\"_ _1\"></span><span class=\"ls222\">to <span class=\"ls24a\">46.<span class=\"ls1\"> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs3e1\">At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of these <span class=\"_ _0\"></span>derivatives is<span class=\"_ _0\"></span> a net <span class=\"ls225\">asset</span></span> of <span class=\"ls220\">\u00a356m<span class=\"_ _0\"></span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls220\">63<span class=\"ls233\">m).</span></span></span> <span class=\"ls22e\">Intere<span class=\"_ _0\"></span>st rate swaps w<span class=\"_ _0\"></span>ith </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs3e2\">a <span class=\"ls231\">fair value of <span class=\"ls220\">\u00a3nil <span class=\"ls243\">(202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a3nil) <span class=\"ls221\">have been designated as cash flow hedges under<span class=\"_ _1\"></span> IFRS 9.<span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3e3\">The ineffectivene<span class=\"_ _1\"></span>ss recognised in the <span class=\"_ _1\"></span><span class=\"ls226\">consolidated <span class=\"ls1fc\">income st<span class=\"_ _0\"></span>atement on<span class=\"_ _0\"></span> cash flow he<span class=\"_ _0\"></span>dges in the y<span class=\"_ _0\"></span>ear ended <span class=\"_ _0\"></span>31 March </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls268 ws1 gs3e4\">202<span class=\"ls1\">6 <span class=\"ls236\">was <span class=\"ls220\">\u00a3nil</span></span> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5: <span class=\"ls220\">\u00a3nil).<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3e6\">The cash flows occur<span class=\"_ _1\"></span> and are charged to prof<span class=\"_ _1\"></span>it and loss until<span class=\"_ _1\"></span> the maturity of t<span class=\"_ _1\"></span>he hedged debt. The tabl<span class=\"_ _1\"></span>e below </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs3e7\">summarises variable rate debt hedged at 31 March.<span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls29f ws1 gs3e8\">Variable rat<span class=\"_ _0\"></span>e debt hedged <span class=\"ls1\"> </span></div><div class=\"gs32e\"><table class=\"s w1b9 h187\" id=\"_e72ed649-3703-4eb5-8d79-b2927ac7e025\"><tr><td></td><td class=\"c x35e y37c1 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x35f y37c1 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x360 y37c2 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x361 y37c2 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y37c3 w1ba h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls204 ws1\">Outstanding<span class=\"_ _1\"></span>:<span class=\"_ _216\"> </span></div><div class=\"t m0 x362 hfb y3476 ff3f fsba fc4 sc0 ls1e6 ws1\">at one year<span class=\"_ _216\"> </span></div></td><td class=\"c x32c y364f w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">1,570<span class=\"ls1\"> </span></div></td><td class=\"c x363 y364f w58 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls208 ws1\">2,020<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x364 y3650 w5e hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\"> <span class=\"ls1e6\">at two years</span> </div></td><td class=\"c x32c y3650 w24 hfd\"><div class=\"t m0 x178 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">1,450<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3650 w58 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">1,670<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x364 y3651 w5e hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\"> <span class=\"ls1e6\">at five years</span> </div></td><td class=\"c x32c y3651 w24 hfe\"><div class=\"t m0 x19a hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">850<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3651 w58 hfe\"><div class=\"t m0 x19a hfb y28d7 ff3f fsba fc4 sc0 ls1e0 ws1\">950<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls247 ws1 gs3e9\">Fair value hedged debt<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3ea\">The Group uses inter<span class=\"_ _1\"></span>est rate swaps to hedge <span class=\"_ _1\"></span>exposure on fixed rat<span class=\"_ _1\"></span>e financial li<span class=\"_ _1\"></span>abilities caused <span class=\"_ _1\"></span>by movements in market </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs3eb\">rates of <span class=\"ls1fc\">interest.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs3ec\">At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of these <span class=\"_ _0\"></span>derivatives is<span class=\"_ _0\"></span> a net <span class=\"ls1fc\">liability</span></span> <span class=\"ls220\">of</span> <span class=\"ls220\">\u00a333m<span class=\"_ _0\"></span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls221\">net <span class=\"ls1fc\">liabilit<span class=\"_ _0\"></span>y</span></span></span> <span class=\"ls220\">of</span> \u00a339<span class=\"ls233\">m). Intere<span class=\"_ _1\"></span>st </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs3ed\">rate<span class=\"ls1\"> <span class=\"ls224\">swaps with a fair value <span class=\"ls225\">asset</span></span> <span class=\"ls220\">of </span>\u00a37m <span class=\"ls221\">have been designated as fair value hedges under IFRS <span class=\"_ _1\"></span>9 (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls225\">asset</span></span> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3ee\">of<span class=\"ls1\"> \u00a38<span class=\"ls233\">m).</span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3ef\">The cross<span class=\"ls1\">-<span class=\"ls226\">currency swaps of the 2025/2026 US Private Pl<span class=\"_ _1\"></span>acements fully hedge the foreign exchange exposure at an </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs3f0\">average floating rate <span class=\"ls220\">of<span class=\"ls1\"> <span class=\"ls22f\">174</span> <span class=\"ls234\">basis poi<span class=\"_ _1\"></span>nts above SONIA. These ha<span class=\"_ _1\"></span><span class=\"ls223\">ve been designated as fair value <span class=\"_ _1\"></span>hedges of the US </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs3f1\">Private Placements<span class=\"_ _1\"></span>.<span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls281 ws1 gs3f2\">Interest rate profile<span class=\"_ _1\"></span> <span class=\"ls1\">\u2013 <span class=\"ls240\">including effect o<span class=\"_ _1\"></span>f derivatives<span class=\"ls1\"> </span></span></span></div><div class=\"gs3f3\"><table class=\"s w18e h188\" id=\"_d68be6d8-ca81-4c37-b0a7-b53200ea9528\"><tr><td></td><td class=\"c x32d y37c4 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37c4 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37c5 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37c5 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37c6 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls214 ws1\">Fixed or capped rate<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c6 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c6 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y37c7 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c7 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs3f4\">At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6 <span class=\"ls222\">the weighted ave<span class=\"_ _0\"></span>rage interest rate of the Sterling fixed rate d<span class=\"_ _0\"></span>ebt is </span>4.4<span class=\"ls276\">% (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 4.</span>3<span class=\"ls276\">%). </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3f5\">The<span class=\"ls1\"> <span class=\"ls236\">weighted a<span class=\"_ _1\"></span>verage peri<span class=\"_ _1\"></span>od for whi<span class=\"_ _1\"></span>ch the r<span class=\"_ _1\"></span>ate is f<span class=\"_ _1\"></span>ixed is <span class=\"_ _1\"></span><span class=\"ls221\">5.5<span class=\"ls1\"> <span class=\"ls223\">years (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span></span>5.5<span class=\"ls1\"> <span class=\"ls223\">years). </span> </span></span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs3f6\">Sensitivity table <span class=\"ls1\">\u2013 <span class=\"ls22a\">mark<span class=\"_ _0\"></span>et rate <span class=\"_ _0\"></span>movements</span> </span></div><div class=\"gs3f7\"><table class=\"s w1bb h189\" id=\"_44474e93-d210-4e9c-818a-3ec7adb535d1\"><tr><td></td><td class=\"c x1fb y37c8 w3e hf8\"><div class=\"t m0 x1aa hf9 y2933 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y37c8 w3e hf8\"><div class=\"t m0 x1 hf9 y2933 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x1fb y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3e fsb9 fc11 sc0 ls284 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3d fsb9 fc4 sc0 ls287 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ca w5f hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>interest <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 x18b hff y2db7 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x9f hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37ca w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37ca w24 hfe\"><div class=\"t m0 x1c1 hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(100)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ca w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ca w24 hfe\"><div class=\"t m0 x196 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(100)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37cb w5f hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on und<span class=\"_ _0\"></span>erlying annual pro<span class=\"_ _0\"></span>fit (\u00a3m)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x365 y37cb w24 hfd\"><div class=\"t m0 x16e hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y37cc w5f hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>medium and lo<span class=\"_ _1\"></span>ng term swap <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 xb3 hff y2f4b ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x2 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37cc w24 hfd\"><div class=\"t m0 x1a3 hfb y2c1d ff42 fsba fc11 sc0 ls1e9 ws1\">421<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cc w24 hfd\"><div class=\"t m0 x19b hfb y2c1d ff42 fsba fc11 sc0 ls1da ws1\">(421)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cc w24 hfd\"><div class=\"t m0 x19d hfb y2c1d ff3f fsba fc4 sc0 ls1d8 ws1\">424<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cc w24 hfd\"><div class=\"t m0 x1c1 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(424)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y374b w1bc h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on cas<span class=\"_ _0\"></span>h flow hedge an<span class=\"_ _0\"></span>d <span class=\"ls1dd\">non<span class=\"ls1\">-</span>hedge accounted derivative<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w1bd h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls272 ws1\">valuations<span class=\"ls1\"> <span class=\"ls1db\">(\u00a3m)<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x1fb y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">154<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cd w24 h102\"><div class=\"t m0 x19b hfb y28e8 ff42 fsba fc11 sc0 ls1da ws1\">(137)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">164<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cd w24 h102\"><div class=\"t m0 x19d hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(185)<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs3f8\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The movement used for sensitivity <span class=\"_ _1\"></span>analysis <span class=\"ls1f9\">is <span class=\"ls1f4\">a 1% change in interest rates. <span class=\"ls1\"> </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fe ws1 gs3f9\">2.<span class=\"ls1\"> <span class=\"ls1fb\">This movement used for sensi<span class=\"_ _1\"></span>tivity analysis represents the <span class=\"_ _1\"></span>largest annual change in the <span class=\"ls202\">seven<span class=\"ls1\">-<span class=\"ls1fe\">year Sterli<span class=\"_ _1\"></span>ng swap rate over the last </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs3fa\">10<span class=\"ls1\"> <span class=\"ls1fa\">years.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls247 ws1 gs3fc\">Foreign currency risk <span class=\"_ _0\"></span>management<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3fd\">The Group\u2019s policy <span class=\"_ _1\"></span>is to have no materi<span class=\"_ _1\"></span>al unhedged net assets <span class=\"_ _1\"></span>or liabiliti<span class=\"_ _1\"></span>es denominated in forei<span class=\"_ _1\"></span>gn currencies. The<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs3fe\">currency risk on overseas in<span class=\"ls223\">vestments <span class=\"_ _1\"></span>may be hedged via foreign currency denominated borrowings <span class=\"_ _1\"></span>and derivatives.<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs3ff\">The Group has adopted net<span class=\"_ _1\"></span> investment hedging in a<span class=\"_ _1\"></span>ccordance with IFRS 9 and t<span class=\"_ _1\"></span>herefore the portion <span class=\"_ _1\"></span>of the gain or los<span class=\"_ _1\"></span>s<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs400\">on any hedging inst<span class=\"_ _1\"></span>rument that is determined <span class=\"_ _1\"></span>to be an <span class=\"ls223\">effective hedge i<span class=\"_ _1\"></span>s recognised directly in equi<span class=\"_ _1\"></span>ty. The ineffective<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs401\">portion of the <span class=\"_ _1\"></span>gain or loss on a<span class=\"_ _1\"></span>ny hedging instrument i<span class=\"_ _1\"></span>s recognised immediatel<span class=\"_ _1\"></span>y in the income st<span class=\"_ _1\"></span>atement.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs402\">The table below shows <span class=\"_ _1\"></span>the carrying amounts of <span class=\"_ _1\"></span>the Group\u2019s foreign cur<span class=\"_ _1\"></span>rency denominate<span class=\"ls234\">d assets and <span class=\"_ _1\"></span>liabilities.<span class=\"_ _216\"> </span></span><span class=\"ls234\"><span class=\"_ _1\"></span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs403\">Provided contingent<span class=\"_ _1\"></span> tax on overseas inv<span class=\"_ _1\"></span>estments is not expect<span class=\"_ _1\"></span>ed to occur it wil<span class=\"_ _1\"></span>l be ignored for <span class=\"_ _1\"></span>hedging purposes.<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls232 ws1 gs404\">Based on the <span class=\"_ _1\"></span>31<span class=\"ls1\"> <span class=\"ls230\">March 202</span>6 <span class=\"ls234\">position</span>, <span class=\"ls225\">a 28% appreciati<span class=\"_ _1\"></span>on (largest annual change over the last<span class=\"_ _1\"></span> 10 years) in the USD<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls225\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs405\">re<span class=\"ls1fc\">lative to St<span class=\"_ _0\"></span>erling would<span class=\"_ _0\"></span> result in a <span class=\"ls220\">\u00a3nil<span class=\"ls1\"> <span class=\"ls226\">change (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"_ _0\"></span>\u00a3</span>1m<span class=\"ls243\">) in reported profits.</span></span></span></span><span class=\"ls1fc\"><span class=\"ls220\"><span class=\"ls1\"> </span></span></span></div><div class=\"gs406\"><table class=\"s w1be h18a\" id=\"_bb31086f-2714-485e-a904-74f3766b31d0\"><tr><td></td><td class=\"c x349 y37ce w3e hfe\"><div class=\"t m0 x1a4 hf9 y2914 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Assets<span class=\"_ _216\"> </span></div><div class=\"t m0 x24 hfc y2ed6 ff41 fsbb fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 xe7 hf9 y2914 ff3d fsb9 fc4 sc0 ls1 ws1\"> </div></td><td></td><td class=\"c x366 y37ce w3e hfe\"><div class=\"t m0 x19e hf9 y2914 ff3d fsb9 fc4 sc0 ls235 ws1\">Liabilities<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x367 y37cf w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x368 y37cf w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x369 y37cf w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x36a y37cf w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x347 y37d0 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37d0 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x36b y37d0 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x36c y37d0 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3543 w61 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">USD denominated<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">35 </div></td><td class=\"c x366 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td><td class=\"c x36d y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">33 </div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs407\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The USD denominated asset of \u00a3<span class=\"ls203\">32<span class=\"ls1f5\">m <span class=\"ls1fc\">(202</span></span></span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a33</span>5<span class=\"ls1f5\">m) <span class=\"ls1f9\">is an other</span></span> <span class=\"ls1f9\">investmen<span class=\"_ _0\"></span>t accounted for as fair v<span class=\"_ _0\"></span>alue through profit of lo<span class=\"_ _0\"></span>ss<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1f9\"> </span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f4 ws1 gs408\">as<span class=\"ls1\"> <span class=\"ls1f2\">disclosed in Note 12. The <span class=\"_ _1\"></span>remaining \u00a3<span class=\"ls200\">nil<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>6<span class=\"ls1f5\">m) <span class=\"ls1fb\">other investment accounted for as fai<span class=\"_ _1\"></span>r value through profit or loss<span class=\"_ _216\"> </span></span></span></span></span></span></span><span class=\"ls1\"><span class=\"ls1f2\"><span class=\"ls200\"><span class=\"ls1\"><span class=\"ls1f5\"><span class=\"ls1fb\"> </span></span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1f9 ws1 gs409\">is<span class=\"ls1\"> a <span class=\"ls1f0\">Sterling</span> <span class=\"ls1f2\">denominated other investment.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls25b ws1 gs40a\">Credit ris<span class=\"_ _0\"></span>k management<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs40b\">The Group\u2019s approach t<span class=\"_ _1\"></span>o credit risk management of<span class=\"_ _1\"></span> counterparties is<span class=\"_ _1\"></span> referred to in Fi<span class=\"_ _1\"></span>nancial policies<span class=\"_ _1\"></span> and principles on<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs40c\">pages <span class=\"ls24a\">44 <span class=\"ls222\">to </span>46<span class=\"ls1\"> <span class=\"ls225\">and the risks addressed <span class=\"_ _1\"></span>within Managing risk in deliveri<span class=\"_ _1\"></span>ng our strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58. <span class=\"ls220\">The ca<span class=\"_ _1\"></span>rrying<span class=\"_ _216\"> </span></span></span></span></span></span></span></span><span class=\"ls24a\"><span class=\"ls1\"><span class=\"ls225\"><span class=\"ls24a\"><span class=\"ls222\"><span class=\"ls221\"><span class=\"ls220\"> </span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs40d\">amount of financ<span class=\"ls1fc\">ial assets record<span class=\"_ _0\"></span>ed in the fina<span class=\"_ _0\"></span>ncial statem<span class=\"_ _0\"></span>ents represe<span class=\"_ _0\"></span>nts the Grou<span class=\"_ _0\"></span>p\u2019s maximu<span class=\"_ _0\"></span>m exposu<span class=\"_ _0\"></span>re to credit ris<span class=\"_ _0\"></span>k<span class=\"_ _216\"> </span></span><span class=\"ls1fc\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls236 ws1 gs40e\">without <span class=\"_ _1\"></span>taking acc<span class=\"_ _1\"></span>ount of t<span class=\"_ _1\"></span>he value <span class=\"_ _1\"></span>of any col<span class=\"_ _1\"></span>lateral <span class=\"_ _1\"></span>obtained.<span class=\"_ _216\"> </span><span class=\"_ _1\"></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff3c fsb8 fc4 sc0 ls232 ws1 gs40f\">Banks and fi<span class=\"_ _1\"></span>nancial insti<span class=\"_ _1\"></span>tutions<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20e ws1 gs410\">Cash and cash<span class=\"_ _1\"></span> equivalents <span class=\"_ _1\"></span>at 31 March 2<span class=\"_ _1\"></span>02<span class=\"ls1\">6 <span class=\"ls225\">amounted to \u00a3<span class=\"ls22f\">176<span class=\"ls233\">m (202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">57<span class=\"ls233\">m). Cash an<span class=\"_ _1\"></span>d cash e<span class=\"_ _1\"></span>quivalen<span class=\"_ _1\"></span>ts were<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"><span class=\"ls26a\"><span class=\"ls221\"><span class=\"ls233\"> </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs411\">placed with fi<span class=\"_ _1\"></span>nancial instit<span class=\"_ _1\"></span>utions with BBB+ or bet<span class=\"_ _1\"></span>ter credit rati<span class=\"_ _1\"></span>ngs.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs412\">At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of all intere<span class=\"_ _0\"></span>st rate deriv<span class=\"_ _0\"></span>ative assets<span class=\"_ _0\"></span> was \u00a3<span class=\"ls220\">68<span class=\"ls233\">m (202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls93\">82<span class=\"ls233\">m).<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs413\">At<span class=\"ls1\"> <span class=\"ls221\">31 March 202</span>6<span class=\"ls235\">, prior to tak<span class=\"_ _0\"></span>ing into acco<span class=\"_ _0\"></span>unt any off<span class=\"_ _0\"></span>set arrange<span class=\"_ _0\"></span>ments, the la<span class=\"_ _0\"></span>rgest com<span class=\"_ _0\"></span>bined credit<span class=\"_ _0\"></span> exposure t<span class=\"_ _0\"></span>o a single<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls235\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs414\">counterparty arising from money market deposits, <span class=\"_ _1\"></span>liquid investments and derivatives was \u00a3<span class=\"ls220\">68<span class=\"ls233\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls24a\">42</span></span></span>m). This<span class=\"_ _216\"> </span></span></span><span class=\"ls220\"><span class=\"ls233\"><span class=\"_ _1\"></span> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs415\">represents <span class=\"ls1\">0.7<span class=\"_ _0\"></span><span class=\"ls276\">% <span class=\"ls243\">(202</span></span>4/25<span class=\"ls26a\">: 0<span class=\"_ _0\"></span>.</span>5<span class=\"ls276\">%) of gro<span class=\"_ _1\"></span>ss assets.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls276\"><span class=\"_ _1\"></span><span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs416\">The deposit exposures<span class=\"_ _1\"></span> are with UK banks and UK <span class=\"_ _1\"></span>branches of internati<span class=\"_ _1\"></span>onal banks.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff3c fsb8 fc4 sc0 ls220 ws1 gs417\">Trade debtors<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs418\">Trade debtors are <span class=\"_ _1\"></span>presented net of provi<span class=\"_ _1\"></span>sions for impairment f<span class=\"_ _1\"></span>or expected credit l<span class=\"_ _1\"></span>osses. Expected credit<span class=\"_ _1\"></span> losses are<span class=\"_ _216\"> </span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs419\">calculated on initi<span class=\"ls225\">al <span class=\"_ _1\"></span>recognition of trade debtors and subsequently <span class=\"_ _1\"></span>in accordance with IFRS 9, taking into <span class=\"_ _1\"></span>account<span class=\"_ _216\"> </span></span><span class=\"ls225\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs41a\">historic and forward<span class=\"ls1\">-<span class=\"ls1fc\">looking informatio<span class=\"_ _0\"></span>n. </span></span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff3c fsb8 fc4 sc0 ls220 ws1 gs41b\">Tenant incentives<span class=\"_ _216\"> </span><span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs41c\">Tenant incentives <span class=\"_ _1\"></span>and the associated tena<span class=\"_ _1\"></span>nt incentive provisi<span class=\"_ _1\"></span>ons for impairment for<span class=\"_ _1\"></span> expected credit<span class=\"ls1\"> <span class=\"ls1fc\">losses are bot<span class=\"_ _0\"></span>h<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1fc\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs41d\">recognised within investm<span class=\"_ _0\"></span>ent property.<span class=\"ls1\"> <span class=\"ls24a\">Expected credit losses a<span class=\"_ _1\"></span>re calculated on i<span class=\"_ _1\"></span>nitial recogni<span class=\"_ _1\"></span>tion of tenant i<span class=\"_ _1\"></span>ncentives<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls24a\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs41e\">and subsequently in accordance with I<span class=\"_ _1\"></span>FRS 9, taking into account historic <span class=\"_ _1\"></span>and forward<span class=\"ls1\">-<span class=\"ls1fc\">looking<span class=\"_ _0\"></span> information<span class=\"_ _0\"></span>.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1fc\"> </span></span><span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls282 ws1 gs420\">Liquidity risk management<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs421\">The Group\u2019s approach t<span class=\"_ _1\"></span>o liquidity ri<span class=\"_ _1\"></span>sk management is discussed i<span class=\"_ _1\"></span>n Financial polic<span class=\"_ _1\"></span>ies and principles<span class=\"_ _1\"></span> on pages <span class=\"ls24a\">44 <span class=\"ls222\">to </span>46<span class=\"ls235\">, </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs422\">and the risks addressed within <span class=\"_ _1\"></span>Managing risk in delivering our <span class=\"_ _1\"></span>strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58<span class=\"ls1\">. </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs423\">The fol<span class=\"ls1fc\">lowing table pr<span class=\"_ _0\"></span>esents a ma<span class=\"_ _0\"></span>turity profile o<span class=\"_ _0\"></span>f the contrac<span class=\"_ _0\"></span>ted undisco<span class=\"_ _0\"></span>unted cash<span class=\"_ _0\"></span> flows of finan<span class=\"_ _0\"></span>cial liabilities ba<span class=\"_ _0\"></span>sed on </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs424\">the earliest date on which th<span class=\"_ _0\"></span>e Group can be required to<span class=\"_ _0\"></span> pay. The table includes both inte<span class=\"_ _0\"></span>rest and principal flows. Where </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs425\">the interest payab<span class=\"ls1fc\">le is n<span class=\"_ _0\"></span>ot fixed, the a<span class=\"_ _0\"></span>mount disc<span class=\"_ _0\"></span>losed has be<span class=\"_ _0\"></span>en determ<span class=\"_ _0\"></span>ined by refer<span class=\"_ _0\"></span>ence to the p<span class=\"_ _0\"></span>rojected inte<span class=\"_ _0\"></span>rest rates </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs426\">implied by<span class=\"_ _0\"></span> yield curves a<span class=\"_ _0\"></span>t the report<span class=\"_ _0\"></span>ing date. For<span class=\"_ _0\"></span> derivative fina<span class=\"_ _0\"></span>ncial instrum<span class=\"_ _0\"></span>ents that set<span class=\"_ _0\"></span>tle on a net ba<span class=\"_ _0\"></span>sis (e.g. intere<span class=\"_ _0\"></span>st<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs427\">rate swaps) the undisco<span class=\"_ _0\"></span>unte<span class=\"ls234\">d net cash flows <span class=\"_ _1\"></span>are shown and for deri<span class=\"_ _1\"></span>vatives that requi<span class=\"_ _1\"></span>re gross settlement<span class=\"_ _1\"></span> (e.g. cross<span class=\"ls1\">-<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs428\">currency swaps) the undiscounted gross cash flows ar<span class=\"_ _1\"></span>e presented. Where payment obligations are in forei<span class=\"_ _1\"></span>gn currencies, </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs429\">the spot exchange ra<span class=\"_ _0\"></span>te ruling at the balance sheet date is use<span class=\"_ _0\"></span>d. Trade creditors which are rep<span class=\"_ _0\"></span>ayable within one year </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs42a\">have been excluded from the anal<span class=\"_ _1\"></span>ysis.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs42b\">The Group expects to <span class=\"_ _1\"></span>meet its financial<span class=\"_ _1\"></span> liabilities<span class=\"_ _1\"></span> through the various a<span class=\"_ _1\"></span>vailable liquidi<span class=\"_ _1\"></span>ty sources, incl<span class=\"_ _1\"></span>uding a secure renta<span class=\"ls1fc\">l </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs42c\">income p<span class=\"_ _0\"></span>rofile, asset s<span class=\"ls225\">ales, undrawn committed borrowing facilities and, in <span class=\"_ _1\"></span>the longer term, debt refinancings.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs42d\">The future aggregate <span class=\"_ _1\"></span>minimum rentals receivabl<span class=\"_ _1\"></span>e under non<span class=\"ls1\">-<span class=\"ls226\">cancellable operating leases are <span class=\"_ _1\"></span>shown in the table on the </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs42e\">following page. Inc<span class=\"_ _0\"></span>ome from joint ventu<span class=\"_ _0\"></span>res is not <span class=\"ls1fc\">included. A<span class=\"_ _0\"></span>dditional liqu<span class=\"_ _0\"></span>idity will arise fr<span class=\"_ _0\"></span>om letting sp<span class=\"_ _0\"></span>ace in prop<span class=\"_ _0\"></span>erties </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs42f\">under construction as <span class=\"_ _1\"></span>well as from distributi<span class=\"_ _1\"></span>ons received from joint vent<span class=\"_ _1\"></span>ures.<span class=\"ls1\"> </span></div><div class=\"gs430\"><table class=\"s w1c6 h18c\" id=\"_8b357a62-86fb-4076-905b-c366aab196b6\"><tr><td></td><td></td><td></td><td class=\"c x21d y37de w3c hf8\"><div class=\"t m0 x185 hf9 y28e1 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x372 y37df w1c7 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls2a0 ws1\">Within one<span class=\"_ _216\"> </span></div></td><td class=\"c x373 y37df w1c8 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Following<span class=\"_ _216\"> </span></div></td><td class=\"c x24c y37df w1c9 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Three to five<span class=\"_ _216\"> </span></div></td><td class=\"c x374 y37df w1ca h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls27e ws1\">Over five<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x375 y37e0 w1cb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x376 y37e0 w1cb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x377 y37e0 w1cc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x378 y37e0 w1cc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y37e0 w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x346 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e2 w3c hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls1\">d<span class=\"ls208\">ebt<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x16e hff y2f06 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x13a hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x21d y37e2 w24 hfd\"><div class=\"t m0 x19a hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">525<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e2 w24 hfd\"><div class=\"t m0 x19d hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">254<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e2 w24 hfd\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1df ws1\">1,536<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e2 w24 hfd\"><div class=\"t m0 x1a3 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">701<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e2 w24 hfd\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">3,016<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e3 w3c hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest on deb<span class=\"_ _0\"></span>t<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e3 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">137<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e3 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">120<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">267<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">109<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1eb ws1\">633<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e4 w3c hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e4 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">56<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e4 w24 hfd\"><div class=\"t m0 x1a4 hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e4 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e4 w24 hfd\"><div class=\"t m0 x1ad hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e4 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">106<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e5 w3c hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">Lease liability payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e5 w24 hfe\"><div class=\"t m0 x1aa hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x349 y37e5 w24 hfe\"><div class=\"t m0 x1ad hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e5 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">313<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e5 w24 hfe\"><div class=\"t m0 x19d hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">360<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e6 w3c hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">Total payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e6 w24 hfd\"><div class=\"t m0 x19a hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">727<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e6 w24 hfd\"><div class=\"t m0 x19a hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e6 w24 hfd\"><div class=\"t m0 x178 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">1,854<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e6 w24 hfd\"><div class=\"t m0 x1c1 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">1,137<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e6 w24 hfd\"><div class=\"t m0 x1a6 hfb y297c ff42 fsba fc11 sc0 ls1e9 ws1\">4,115<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e7 w3c hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>receipts<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(91)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(12)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(17)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e7 w24 hfe\"><div class=\"t m0 x1a4 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e7 w24 hfe\"><div class=\"t m0 x19b hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(122)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e8 w3c hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net <span class=\"ls1d8\">payment</span><span class=\"ls1d8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x21d y37e8 w24 hfe\"><div class=\"t m0 x19d hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">636<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e8 w24 hfe\"><div class=\"t m0 x19a hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">385<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e8 w24 hfe\"><div class=\"t m0 x1b0 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">1,837<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e8 w24 hfe\"><div class=\"t m0 x1a6 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">1,135<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e8 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">3,993<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e9 w3c hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>leases wit<span class=\"_ _1\"></span>h tenants<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">324<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">284<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e9 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">555<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1eb ws1\">604<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e9 w24 hfd\"><div class=\"t m0 x1b0 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">1,767<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ea w3c hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">Liquidity deficit<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ea w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(312)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37ea w24 hfe\"><div class=\"t m0 x19d hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(101)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37ea w24 hfe\"><div class=\"t m0 x198 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(1,282)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ea w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(531)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ea w24 hfe\"><div class=\"t m0 x1ae hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(2.226)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37eb w3c hfd\"><div class=\"t m0 x0 hfb y28dd ff42 fsba fc4 sc0 ls1d9 ws1\">Cumulative liqui<span class=\"_ _1\"></span>dity deficit<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37eb w24 hfd\"><div class=\"t m0 x19b hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(312)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37eb w24 hfd\"><div class=\"t m0 x196 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(413)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37eb w24 hfd\"><div class=\"t m0 x194 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(1,695)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37eb w24 hfd\"><div class=\"t m0 x1ae hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(2,226)<span class=\"ls1\"> </span></div></td><td></td></tr></table></div><div class=\"gs431\"><table class=\"s w1bf h18b\" id=\"_4f410174-0369-4ca8-81d4-3b9c8eefacd2\"><tr><td></td><td></td><td></td><td class=\"c x21d y37d1 w3c hf8\"><div class=\"t m0 x185 hf9 y2935 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x36e y37d2 w1c0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls28e ws1\">Within one<span class=\"_ _216\"> </span></div></td><td class=\"c x35a y37d2 w1c1 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Following<span class=\"_ _216\"> </span></div></td><td class=\"c x36f y37d2 w1c2 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Three to <span class=\"ls288\">five<span class=\"_ _216\"> </span></span></div></td><td class=\"c x230 y37d2 w1c3 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls27e ws1\">Over five<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x2f5 y37d3 w1c4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x370 y37d3 w1c4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x371 y37d3 w1c5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x32d y37d3 w1c5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y37d3 wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x346 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d5 w3c hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls1\">d<span class=\"ls208\">ebt<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x16e hff y2ed7 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x13a hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x21d y37d5 w24 hfe\"><div class=\"t m0 x19a hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">337<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">105<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d5 w24 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">1,374<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d5 w24 hfe\"><div class=\"t m0 x19a hfb y28e6 ff3f fsba fc4 sc0 ls1e0 ws1\">937<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d5 w24 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls208 ws1\">2,753<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d6 w3c hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest on deb<span class=\"_ _0\"></span>t<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d6 w24 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">129<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d6 w24 hfd\"><div class=\"t m0 x192 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">110<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d6 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1ea ws1\">272<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d6 w24 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">195<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d6 w24 hfd\"><div class=\"t m0 x19d hfb y28e8 ff3f fsba fc4 sc0 ls208 ws1\">706<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d7 w3c hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d7 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d7 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">66<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d7 w24 hfe\"><div class=\"t m0 x8f hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d7 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d7 w24 hfe\"><div class=\"t m0 x19d hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">204<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d8 w3c hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">Lease liability payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d8 w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x349 y37d8 w24 hfd\"><div class=\"t m0 x1a4 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d8 w24 hfd\"><div class=\"t m0 x192 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d8 w24 hfd\"><div class=\"t m0 x19e hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">319<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d8 w24 hfd\"><div class=\"t m0 x19a hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">368<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d9 w3c hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">Total payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d9 w24 hfe\"><div class=\"t m0 x19a hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">568<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d9 w24 hfe\"><div class=\"t m0 x19e hfb y2912 ff3f fsba fc4 sc0 ls1ea ws1\">291<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,707<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,465<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1d8 ws1\">4,031<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37da w3c hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>receipts<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37da w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37da w24 hfd\"><div class=\"t m0 x192 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(81)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37da w24 hfd\"><div class=\"t m0 x192 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(18)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37da w24 hfd\"><div class=\"t m0 x1ad hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37da w24 hfd\"><div class=\"t m0 x1c1 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(220)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37db w3c hfe\"><div class=\"t m0 x0 hfb y2943 ff42 fsba fc4 sc0 ls1e1 ws1\">Net payment<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37db w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1d8 ws1\">451<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37db w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1ea ws1\">210<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37db w24 hfe\"><div class=\"t m0 x1b0 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,689<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37db w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,461<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37db w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">3,811<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37dc w3c hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>leases wit<span class=\"_ _1\"></span>h tenants<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37dc w24 hfe\"><div class=\"t m0 x19d hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">307<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37dc w24 hfe\"><div class=\"t m0 x19e hfb y28d5 ff3f fsba fc4 sc0 ls1ea ws1\">271<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37dc w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">583<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37dc w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">584<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37dc w24 hfe\"><div class=\"t m0 x1a6 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">1,745<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37dd w3c hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">Liquidity (deficit) <span class=\"_ _1\"></span><span class=\"ls1e3\">surplus<span class=\"ls1\"> </span></span></div></td><td class=\"c x21d y37dd w24 hfe\"><div class=\"t m0 x19b hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(144)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37dd w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37dd w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(1,106)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37dd w24 hfe\"><div class=\"t m0 x196 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(877)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37dd w24 hfe\"><div class=\"t m0 x1ae hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(2,066)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3543 w3c hfd\"><div class=\"t m0 x0 hfb y28e3 ff42 fsba fc4 sc0 ls1d9 ws1\">Cumulative liqui<span class=\"_ _1\"></span>dity <span class=\"ls1d8\">deficit</span><span class=\"ls1d8\"><span class=\"ls1\">  </span></span></div></td><td class=\"c x21d y3543 w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(144)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3543 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(83)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(1,189)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3543 w24 hfd\"><div class=\"t m0 x199 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(2,066)<span class=\"ls1\"> </span></div></td><td></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs432\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1ff\">Gross debt of \u00a3<span class=\"ls1fe\">2,996<span class=\"ls1f5\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2,728</span></span></span>m) represents<span class=\"_ _1\"></span> the <span class=\"ls1f3\">total of <span class=\"ls1\">\u00a3<span class=\"ls203\">3,016</span></span></span>m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2,753</span></span></span>m), le<span class=\"_ _1\"></span>ss unamortise<span class=\"_ _1\"></span>d issue cost<span class=\"_ _1\"></span>s of <span class=\"ls1\">\u00a3<span class=\"ls1fd\">14</span></span>m </span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fc ws1 gs433\">(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>17<span class=\"ls1f5\">m), less fair v<span class=\"_ _1\"></span>alue adjustme<span class=\"_ _1\"></span>nts to debt o<span class=\"_ _1\"></span>f <span class=\"ls1\">\u00a36</span>m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span>\u00a38</span>m).<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1f5\"><span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs435\">Any <span class=\"ls224\">short term liquidity gap between the net payments required and the rentals receivable can be met through other </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs436\">liquidity sou<span class=\"_ _0\"></span>rces availab<span class=\"_ _0\"></span>le to the Grou<span class=\"_ _0\"></span>p, such as co<span class=\"_ _0\"></span>mmitted u<span class=\"_ _0\"></span>ndrawn bo<span class=\"_ _0\"></span>rrowing fac<span class=\"_ _0\"></span>ilities<span class=\"ls1\"> <span class=\"ls220\">of </span>\u00a31,4<span class=\"ls221\">56</span>m<span class=\"_ _0\"></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls22f\">1,7<span class=\"_ _0\"></span>75<span class=\"ls233\">m) </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs437\">and<span class=\"ls1\"> <span class=\"ls226\">cash and cash equivale<span class=\"ls221\">nts of \u00a3<span class=\"ls22f\">176<span class=\"ls233\">m <span class=\"ls243\">(202</span></span></span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">57<span class=\"ls233\">m)</span></span></span>, <span class=\"ls220\">of which \u00a3<span class=\"ls22f\">131<span class=\"ls233\">m <span class=\"ls243\">(202</span></span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>\u00a3<span class=\"ls268\">21<span class=\"ls233\">m) <span class=\"ls1fc\">is not subje<span class=\"_ _0\"></span>ct to a secur<span class=\"_ _0\"></span>ity </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs438\">interest. <span class=\"ls1ec\">As a result,<span class=\"_ _1\"></span> the Group h<span class=\"_ _1\"></span>as no requi<span class=\"_ _1\"></span>rement to re<span class=\"_ _1\"></span>finance unti<span class=\"_ _1\"></span>l <span class=\"ls223\">early 2029<span class=\"ls235\">. <span class=\"ls249\">Further li<span class=\"_ _1\"></span>quidity can be achi<span class=\"_ _1\"></span>eved </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs439\">through sales of prope<span class=\"_ _0\"></span>rty assets or <span class=\"ls1fc\">investme<span class=\"_ _0\"></span>nts and finan<span class=\"_ _0\"></span>cing activity.<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs43a\">The Group\u2019s property <span class=\"_ _1\"></span>portfolio is val<span class=\"_ _1\"></span>ued externally at <span class=\"_ _1\"></span>\u00a3<span class=\"ls1\">6,<span class=\"ls221\">316<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span></span>6,065<span class=\"ls233\">m) and th<span class=\"_ _1\"></span>e share <span class=\"_ _1\"></span>of joi<span class=\"_ _1\"></span>nt vent<span class=\"_ _1\"></span>ures\u2019 </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs43b\">property is val<span class=\"_ _1\"></span>ued <span class=\"ls225\">at \u00a3<span class=\"ls1\">3,<span class=\"ls268\">746<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5: \u00a3<span class=\"ls221\">3,421<span class=\"ls233\">m). The <span class=\"_ _1\"></span>committe<span class=\"_ _1\"></span>d undrawn <span class=\"_ _1\"></span>borrowi<span class=\"_ _1\"></span>ng faci<span class=\"_ _1\"></span>lities<span class=\"_ _1\"></span> availa<span class=\"_ _1\"></span>ble to<span class=\"ls1\"> <span class=\"ls222\">the Group </span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs43c\">are a further source of <span class=\"_ _1\"></span>liquidity. The maturity profi<span class=\"_ _1\"></span>le of committed undrawn borrowing faciliti<span class=\"_ _1\"></span>es is shown below.<span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls28b ws1 gs43d\">Maturity <span class=\"_ _0\"></span>of committe<span class=\"_ _0\"></span>d undrawn b<span class=\"_ _0\"></span>orrowing f<span class=\"_ _0\"></span>acilitie<span class=\"_ _0\"></span>s<span class=\"ls1\"> </span></div><div class=\"gs43e\"><table class=\"s w1cd h18d\" id=\"_7a3826f5-abfd-4def-9f90-beb8911c6446\"><tr><td></td><td class=\"c x200 y37ec w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37ec w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37ed w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37ed wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y37ee w1ce h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">Maturity <span class=\"_ _1\"></span>date:<span class=\"_ _216\"> </span></div><div class=\"t m0 x379 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">over five years<span class=\"_ _216\"> </span></div></td><td class=\"c x1fc y37ef w24 hfd\"><div class=\"t m0 x19d hfb y28f7 ff42 fsba fc11 sc0 ls1d7 ws1\">250<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ef w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">140<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x37a y37f0 w62 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1eb ws1\">between four and <span class=\"ls1e7\">five years</span><span class=\"ls1e7\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y37f0 w24 hfe\"><div class=\"t m0 x19a hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">665<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f0 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,055<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x37a y37f1 w62 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1eb ws1\">between three and fou<span class=\"_ _1\"></span>r years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f1 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f1 w24 hfd\"><div class=\"t m0 x1aa hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td></tr><tr><td class=\"c x1f9 y37f2 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">Total faciliti<span class=\"_ _1\"></span>es available for more <span class=\"_ _1\"></span>than three years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f2 w24 hfe\"><div class=\"t m0 x1a6 hfb y2943 ff42 fsba fc11 sc0 ls1df ws1\">1,15<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f2 w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,201<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f3 w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">Between two and thr<span class=\"_ _1\"></span>ee years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f3 w24 hfd\"><div class=\"t m0 x1aa hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y37f3 w24 hfd\"><div class=\"t m0 x1a2 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">24 </div></td></tr><tr><td class=\"c x1f9 y37f4 w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">Between one and two <span class=\"_ _1\"></span>years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f4 w24 hfe\"><div class=\"t m0 x16e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37f4 w24 hfe\"><div class=\"t m0 x19d hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">450<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f5 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls27a ws1\">Within<span class=\"_ _1\"></span> one ye<span class=\"_ _1\"></span>ar<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f5 w24 hfd\"><div class=\"t m0 x19d hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">302<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f5 w24 hfd\"><div class=\"t m0 x1a3 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">1<span class=\"ls275\">00</span> </div></td></tr><tr><td class=\"c x1f9 y37cd w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cd w24 hfd\"><div class=\"t m0 x178 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">1,456<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cd w24 hfd\"><div class=\"t m0 x1a6 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">1,<span class=\"ls208\">775</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-462": {
   "value": "16 <span class=\"_ _23\"> </span><span class=\"ls274\">Net debt</span> <table class=\"s w18f h17a\" id=\"_71744af2-76ae-477f-bb93-c17b33fc2106\"><tr><td></td><td></td><td class=\"c x32e y3723 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x32f y3723 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x330 y3724 w29 h115\"><div class=\"t m0 x1ba hf9 y28e6 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Footnote<span class=\"ls1\"> </span></div></td><td class=\"c x331 y3725 w8e h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x332 y3725 wa6 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3726 w59 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1ed ws1\">Secured on the assets of the <span class=\"_ _1\"></span>Group<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3727 w59 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">5.264% First Mortgage Debenture Bonds 2035<span class=\"ls1\"> </span></div></td><td class=\"c x330 y3727 w29 hfd\"><div class=\"t m0 x192 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x333 y3727 w2f hfd\"><div class=\"t m0 x19e hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">247<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3727 w55 hfd\"><div class=\"t m0 x1a3 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">250<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3728 w59 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1dd ws1\">5.0055% First Mortgage Amortising Debentures <span class=\"_ _1\"></span>2035<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3728 w2f hfe\"><div class=\"t m0 x1aa hfb y2967 ff42 fsba fc11 sc0 ls1d7 ws1\">81<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3728 w55 hfe\"><div class=\"t m0 x8f hfb y2967 ff3f fsba fc4 sc0 ls1d7 ws1\">83<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3729 w59 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1dd ws1\">5.357% First Mortgage Debenture <span class=\"ls1d6\">Bonds <span class=\"_ _1\"></span>2028</span><span class=\"ls1d6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x330 y3729 w29 hfd\"><div class=\"t m0 x192 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x333 y3729 w2f hfd\"><div class=\"t m0 x192 hfb y28f7 ff42 fsba fc11 sc0 ls1df ws1\">146<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3729 w55 hfd\"><div class=\"t m0 x192 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">164<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x333 y372a w2f hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff42 fsba fc11 sc0 ls1e9 ws1\">474<span class=\"ls1\"> </span></div></td><td class=\"c x318 y372a w55 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">497<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y372b w59 hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1e2 ws1\">Unsecured<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y372c w59 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">2.375% Sterling Unsecured Bond 2029<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y372c w2f hfe\"><div class=\"t m0 x19e hfb y2943 ff42 fsba fc11 sc0 ls1d7 ws1\">299<span class=\"ls1\"> </span></div></td><td class=\"c x318 y372c w55 hfe\"><div class=\"t m0 x19e hfb y2943 ff3f fsba fc4 sc0 ls208 ws1\">299<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y372d w59 hfd\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">5.25% Sterling Unsecured Bond 2032<span class=\"ls1\"> </span></div></td><td class=\"c x330 y372d w29 hfd\"><div class=\"t m0 x192 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td><td class=\"c x333 y372d w2f hfd\"><div class=\"t m0 x19e hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">297<span class=\"ls1\"> </span></div></td><td class=\"c x318 y372d w55 hfd\"><div class=\"t m0 x19e hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">297<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y372e w59 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">2.67% Senior Notes 2025<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y372e w2f hfd\"><div class=\"t m0 x13a hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x318 y372e w55 hfd\"><div class=\"t m0 x8f hfb y2be8 ff3f fsba fc4 sc0 ls1dd ws1\">37<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y372f w59 hfd\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls208 ws1\">2.75% Senior Notes 2026<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y372f w2f hfd\"><div class=\"t m0 x8f hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">37<span class=\"ls1\"> </span></div></td><td class=\"c x318 y372f w55 hfd\"><div class=\"t m0 x8f hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">37<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3730 w59 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1dd ws1\">3.81% Senior Notes 2026<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3730 w2f hfd\"><div class=\"t m0 x13a hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x318 y3730 w55 hfd\"><div class=\"t m0 x1a4 hfb y28e8 ff3f fsba fc4 sc0 ls1e0 ws1\">99<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3731 w59 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">3.97% Senior Notes <span class=\"ls208\">2026</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td><td></td><td class=\"c x333 y3731 w2f hfe\"><div class=\"t m0 x13a hfb y28f5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x318 y3731 w55 hfe\"><div class=\"t m0 x1a4 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">99<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3732 w59 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1d8 ws1\">4.16% Senior US Doll<span class=\"_ _1\"></span>ar Notes 2025<span class=\"ls1\"> </span></div></td><td class=\"c x330 y3732 w29 hfd\"><div class=\"t m0 x1a3 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x333 y3732 w2f hfd\"><div class=\"t m0 x13a hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x318 y3732 w55 hfd\"><div class=\"t m0 x8f hfb y2c1d ff3f fsba fc4 sc0 ls208 ws1\">76<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3733 w59 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1dd ws1\">5.003% Senior US Dollar Notes 2026<span class=\"ls1\"> </span></div></td><td class=\"c x330 y3733 w29 hfe\"><div class=\"t m0 x1a3 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x333 y3733 w2f hfe\"><div class=\"t m0 x1bc hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3733 w55 hfe\"><div class=\"t m0 x8f hfb y293b ff3f fsba fc4 sc0 ls1e0 ws1\">63<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3734 w59 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls214 ws1\">Floating Rate Senior<span class=\"_ _1\"></span> Notes 2028<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3734 w2f hfd\"><div class=\"t m0 x1a4 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">80<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3734 w55 hfd\"><div class=\"t m0 x1a4 hfb y29a1 ff3f fsba fc4 sc0 ls1d7 ws1\">80<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3735 w59 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls214 ws1\">Floating Rate Senior<span class=\"_ _1\"></span> Notes 2034<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3735 w2f hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">101<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3735 w55 hfe\"><div class=\"t m0 x1ad hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">101<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3736 w59 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d9 ws1\">Commercial paper<span class=\"ls1\"> </span></div></td><td class=\"c x330 y3736 w29 hfd\"><div class=\"t m0 x1a3 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x333 y3736 w2f hfd\"><div class=\"t m0 x19e hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">274<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3736 w55 hfd\"><div class=\"t m0 x13a hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3737 w59 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls214 ws1\">Facilities and <span class=\"_ _1\"></span>overdrafts<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3737 w2f hfe\"><div class=\"t m0 x19e hfb y28ed ff42 fsba fc11 sc0 ls1d7 ws1\">833<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3737 w55 hfe\"><div class=\"t m0 x19e hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">568<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3738 w59 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1e0 ws1\">Term <span class=\"ls1e5\">loans</span><span class=\"ls1e5\"><span class=\"ls1\"> </span></span></div></td><td></td><td class=\"c x333 y3738 w2f hfd\"><div class=\"t m0 x1a3 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">540<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3738 w55 hfd\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1d8 ws1\">475<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x333 y3739 w2f hfe\"><div class=\"t m0 x1a6 hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">2,522<span class=\"ls1\"> </span></div></td><td class=\"c x318 y3739 w55 hfe\"><div class=\"t m0 x19b hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">2,231<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373a w59 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls20a ws1\">Gross debt <span class=\"ls1\"> </span></div></td><td class=\"c x330 y373a w29 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td><td class=\"c x333 y373a w2f hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">2,996<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373a w55 hfe\"><div class=\"t m0 x1a6 hfb y28e6 ff3f fsba fc4 sc0 ls208 ws1\">2,728<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373b w59 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency derivativ<span class=\"_ _0\"></span>e liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x330 y373b w29 hfd\"><div class=\"t m0 x1a3 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x333 y373b w2f hfd\"><div class=\"t m0 x1a4 hfb y297c ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373b w55 hfd\"><div class=\"t m0 x8f hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373c w59 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency derivativ<span class=\"_ _0\"></span>e assets<span class=\"ls1\"> </span></div></td><td class=\"c x330 y373c w29 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x333 y373c w2f hfe\"><div class=\"t m0 x192 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373c w55 hfe\"><div class=\"t m0 x192 hfb y2967 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373d w59 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents <span class=\"ls1\"> </span></div></td><td class=\"c x330 y373d w29 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td><td class=\"c x333 y373d w2f hfd\"><div class=\"t m0 x19a hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373d w55 hfd\"><div class=\"t m0 x192 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373e w59 hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt <span class=\"ls208\">attributabl<span class=\"_ _1\"></span>e to <span class=\"ls289\">shareholders of the Company</span></span><span class=\"ls208\"><span class=\"ls289\"><span class=\"ls1\"> </span></span></span></div></td><td></td><td class=\"c x333 y373e w2f hfd\"><div class=\"t m0 x1a6 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373e w55 hfd\"><div class=\"t m0 x1a6 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y373f w59 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1e0 ws1\">Total net debt <span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y373f w2f hfe\"><div class=\"t m0 x1a6 hfb y28ed ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x318 y373f w55 hfe\"><div class=\"t m0 x1a6 hfb y28ed ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3740 w59 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1e1 ws1\">Amounts payable <span class=\"_ _1\"></span>under leases <span class=\"_ _1\"></span>(Notes 14 and 1<span class=\"_ _1\"></span>5)<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x333 y3740 w2f hfd\"><div class=\"t m0 x192 hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td><td class=\"c x318 y3740 w55 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">114<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3741 w59 hfd\"><div class=\"t m0 x0 hfb y28e3 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt <span class=\"ls208\">attributabl<span class=\"_ _1\"></span>e to shareholders of the Company <span class=\"ls1da\">(including lease liabilities)<span class=\"ls1\"> </span></span></span></div></td><td></td><td class=\"c x333 y3741 w2f hfd\"><div class=\"t m0 x178 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">2,90<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x318 y3741 w55 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls208 ws1\">2,761<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1f1\">In the <span class=\"_ _1\"></span><span class=\"ls1f2\">prior <span class=\"_ _1\"></span>year, o<span class=\"ls200\">n <span class=\"_ _d\"></span>13 March <span class=\"_ _1\"></span>2025<span class=\"ls1\">, <span class=\"ls1f3\">the <span class=\"_ _1\"></span>Group issued <span class=\"_ _1\"></span>\u00a3300m 5.25% bonds <span class=\"_ _1\"></span>due in <span class=\"_ _d\"></span>2<span class=\"_ _0\"></span>032. The <span class=\"_ _d\"></span>bo<span class=\"_ _0\"></span>nds were <span class=\"_ _d\"></span>issu<span class=\"_ _0\"></span>ed at <span class=\"_ _d\"></span>a discount of <span class=\"_ _d\"></span>\u00a3<span class=\"_ _0\"></span>1m, and </span></span></span></span></span></span>after issue <span class=\"_ _1\"></span>costs have an <span class=\"_ _1\"></span>effective interest rate <span class=\"_ _d\"></span>o<span class=\"_ _0\"></span>f 5.5%. <span class=\"_ _1\"></span>The proceeds were <span class=\"_ _1\"></span>used to redeem \u00a378m <span class=\"_ _1\"></span>5.264% bonds due in <span class=\"_ _1\"></span>2035 and<span class=\"ls1\"> <span class=\"ls1fb\">\u00a372m</span> </span>5.357% <span class=\"_ _0\"></span>bonds <span class=\"_ _4\"></span>due <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>2028, <span class=\"_ _4\"></span>by <span class=\"_ _0\"></span>way <span class=\"_ _0\"></span>of <span class=\"_ _4\"></span>a <span class=\"_ _0\"></span>cash <span class=\"_ _4\"></span>tender. <span class=\"_ _0\"></span>\u00a3130m <span class=\"_ _0\"></span>of <span class=\"_ _4\"></span>the <span class=\"_ _0\"></span>\u00a3150m <span class=\"_ _0\"></span>total <span class=\"_ _4\"></span>aggregate <span class=\"_ _0\"></span>nominal <span class=\"_ _0\"></span>amount <span class=\"_ _4\"></span>was <span class=\"_ _0\"></span>settled <span class=\"_ _0\"></span>on <span class=\"_ _4\"></span>the <span class=\"_ _0\"></span>beare<span class=\"ls21a\">r </span>settlement date <span class=\"_ _d\"></span>of 27 <span class=\"_ _1\"></span>March 2025. <span class=\"_ _1\"></span>The remaining <span class=\"_ _d\"></span>\u00a320m was settled <span class=\"_ _d\"></span>on the <span class=\"_ _1\"></span>registered settlement <span class=\"_ _d\"></span>date of 8 <span class=\"_ _d\"></span>April 2025. <span class=\"_ _1\"></span>The 5.264<span class=\"ls29c\">% <span class=\"_ _d\"></span>2<span class=\"ls29d\">035 </span></span>bonds were redeemed at a discount <span class=\"_ _1\"></span>and the 5.357% 2028 bonds were redeemed at<span class=\"_ _1\"></span> a premium.<span class=\"ls1\"> </span>2.<span class=\"ls1\"> <span class=\"ls1f2\">Principal and int<span class=\"_ _1\"></span>erest on these borrowings were full<span class=\"_ _1\"></span>y hedged into Sterling at a fl<span class=\"_ _1\"></span>oating rate at the time of i<span class=\"_ _1\"></span>ssue.<span class=\"ls1\"> </span></span></span>3. <span class=\"ls1f1\">In the current year<span class=\"ls1\"> <span class=\"ls1f3\">to 31 Marc<span class=\"_ _0\"></span>h 2026<span class=\"ls1f7\">, the <span class=\"ls1ff\">Group issued commercial <span class=\"_ _1\"></span>paper denominated in <span class=\"ls1\">E<span class=\"ls200\">uros, <span class=\"_ _1\"></span>US <span class=\"ls1\">D<span class=\"ls1fb\">ollars and </span>P<span class=\"ls1fb\">ound</span> S<span class=\"ls1f3\">terling. All </span></span></span></span></span></span></span></span></span>commercial paper denominated in a foreign currency <span class=\"ls28f\">was<span class=\"ls1\"> <span class=\"ls202\">swapped to Pound Sterling<span class=\"ls1f7\">. </span></span> </span></span>4. <span class=\"_ _d\"></span><span class=\"ls1fb\">The principal amount of gross debt a<span class=\"_ _1\"></span>t 31 March 202<span class=\"ls1\">6 <span class=\"ls28f\">was</span> </span>\u00a33,006m<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a32,<span class=\"ls1fe\">740<span class=\"ls1f5\">m). Included in <span class=\"_ _1\"></span>this is the<span class=\"_ _1\"></span> principal <span class=\"_ _1\"></span>amount </span></span></span></span></span>of<span class=\"ls1\"> <span class=\"ls202\">secured <span class=\"ls1f2\">borrowings <span class=\"ls1f4\">and other borrowings </span></span></span></span>of non<span class=\"ls1\">-<span class=\"ls1f3\">recourse companies </span></span>of \u00a3480m<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls203\">501<span class=\"ls1f5\">m).</span></span></span> </span>5. <span class=\"ls1f1\">Interest rate and currency d<span class=\"_ _0\"></span>erivative liabilities include<span class=\"_ _0\"></span>s non</span>-<span class=\"ls1f4\">current interest rate and currency derivative lia<span class=\"_ _1\"></span><span class=\"ls1f2\">bilities of \u00a345<span class=\"ls1f5\">m (202<span class=\"_ _1\"></span><span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span></span></span></span></span>\u00a356m) and current interest rat<span class=\"_ _1\"></span>e and currency derivative liabil<span class=\"_ _1\"></span>ities of \u00a3nil<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2m<span class=\"ls1fc\">).</span></span></span> </span>6. <span class=\"_ _d\"></span><span class=\"ls1f1\">Int<span class=\"_ _0\"></span>erest rate and currenc<span class=\"_ _0\"></span>y derivative assets includ<span class=\"_ _0\"></span>es non<span class=\"ls1\">-<span class=\"ls1f4\">current interest rate and currency derivative assets of \u00a3<span class=\"ls1f2\">42<span class=\"ls1f5\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span></span></span></span></span></span></span>\u00a37<span class=\"ls1\">3<span class=\"ls1f5\">m)</span> <span class=\"ls1f4\">and current interest rate and currency derivative assets of<span class=\"_ _1\"></span> \u00a3<span class=\"ls1fe\">26<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>9</span>m).<span class=\"ls1\"> </span></span></span></span></span>7. <span class=\"ls290\">Cash and cash equival<span class=\"_ _1\"></span>ents includes tenant <span class=\"_ _1\"></span>deposits of \u00a3<span class=\"ls1f2\">45<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a33</span>6</span>m) and cas<span class=\"_ _1\"></span>h and short t<span class=\"_ _1\"></span>erm deposits <span class=\"_ _1\"></span>not subject <span class=\"_ _1\"></span>to </span></span></span>a <span class=\"ls202\">security interest amount to</span> <span class=\"ls1fb\">\u00a3131m</span> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>21<span class=\"_ _0\"></span><span class=\"ls1f5\">m).</span> Maturity <span class=\"_ _0\"></span>analysis <span class=\"_ _0\"></span>of net de<span class=\"_ _0\"></span>bt<span class=\"ls1\"> </span><table class=\"s w197 h17c\" id=\"_80c88e01-2026-4dc1-a851-5ccc9bf50119\"><tr><td></td><td></td><td class=\"c x200 y374d w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y374d w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td></td><td class=\"c x1f7 y374e w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y374e wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y374f w5a hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">Repayable:<span class=\"ls1\"> </span></div></td><td class=\"c x33b y374f w5b hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls20b ws1\">within one<span class=\"_ _1\"></span> year and o<span class=\"_ _1\"></span>n demand<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y374f w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">521<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y374f w24 hfd\"><div class=\"t m0 x1a2 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3750 w5a hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1d6 ws1\">Between:<span class=\"ls1\"> </span></div></td><td class=\"c x33b y3750 w5b hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">one and two years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3750 w24 hfe\"><div class=\"t m0 x19a hfb y2943 ff42 fsba fc11 sc0 ls1d7 ws1\">252<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3750 w24 hfe\"><div class=\"t m0 x1a2 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">98<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x33b y3751 w5b hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1ee ws1\">two and five years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3751 w24 hfd\"><div class=\"t m0 x1b0 hfb y28dd ff42 fsba fc11 sc0 ls1df ws1\">1,528<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3751 w24 hfd\"><div class=\"t m0 x1a6 hfb y28dd ff3f fsba fc4 sc0 ls1dc ws1\">1,386<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x33b y3752 w5b hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1e7 ws1\">five and ten years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3752 w24 hfd\"><div class=\"t m0 x19a hfb y28ef ff42 fsba fc11 sc0 ls1eb ws1\">695<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3752 w24 hfd\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">531<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x33b y3753 w5b hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1ee ws1\">ten and fifteen years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3753 w24 hfe\"><div class=\"t m0 x16e hfb y28e1 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3753 w24 hfe\"><div class=\"t m0 x19d hfb y28e1 ff3f fsba fc4 sc0 ls1d8 ws1\">402<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x1fc y3754 w24 hfd\"><div class=\"t m0 x1a7 hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">2,475<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3754 w24 hfd\"><div class=\"t m0 x1a6 hfb y292f ff3f fsba fc4 sc0 ls208 ws1\">2,417<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3755 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls20a ws1\">Gross debt<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y3755 w24 hfd\"><div class=\"t m0 x1a5 hfb y28e8 ff42 fsba fc11 sc0 ls1d7 ws1\">2,996<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3755 w24 hfd\"><div class=\"t m0 x178 hfb y28e8 ff3f fsba fc4 sc0 ls208 ws1\">2,728<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3756 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency derivativ<span class=\"_ _0\"></span>es<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y3756 w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(23)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3756 w24 hfe\"><div class=\"t m0 x1a3 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls208\">24</span>) </div></td></tr><tr><td class=\"c x1f9 y3757 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y3757 w24 hfd\"><div class=\"t m0 x19b hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3757 w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1dd\">57</span>) </div></td></tr><tr><td class=\"c x1f9 y3758 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff42 fsba fc4 sc0 ls1e1 ws1\">Net debt<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y3758 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3758 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,<span class=\"ls1e0\">647</span><span class=\"ls1e0\"><span class=\"ls1\"> </span></span></div></td></tr></table>Fair value and book va<span class=\"_ _0\"></span>lue of net debt<span class=\"ls1\"> </span><table class=\"s w190 h17b\" id=\"_cf63e6f2-7c49-4c39-9cbd-cd23b2204f11\"><tr><td></td><td></td><td class=\"c x1e5 y3742 w22 hf8\"><div class=\"t m0 x163 hf9 y2947 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y3742 w22 hf8\"><div class=\"t m0 x163 hf9 y2947 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x334 y3743 w181 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x335 y3743 w191 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls216 ws1\">Book value<span class=\"_ _216\"> </span></div></td><td class=\"c x336 y3743 w192 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Difference<span class=\"_ _216\"> </span></div></td><td class=\"c x337 y3743 w182 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x338 y3743 w193 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls216 ws1\">Book value<span class=\"_ _216\"> </span></div></td><td class=\"c x339 y3743 w194 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Difference<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f3 y3744 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f4 y3744 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f5 y3744 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x235 y3744 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x33a y3744 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3744 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3745 w33 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls20a ws1\">Debentures and<span class=\"_ _1\"></span> unsecured bonds<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3745 w24 hfe\"><div class=\"t m0 x178 hfb y28f5 ff42 fsba fc11 sc0 ls1df ws1\">1,<span class=\"ls1d7\">592</span><span class=\"ls1d7\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fa y3745 w24 hfe\"><div class=\"t m0 x178 hfb y28f5 ff42 fsba fc11 sc0 ls1df ws1\">1,624<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3745 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f5 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3745 w24 hfe\"><div class=\"t m0 x1b0 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">1,643<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3745 w24 hfe\"><div class=\"t m0 x1b0 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">1,685<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3745 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f5 ff3f fsba fc4 sc0 ls1db ws1\">(42)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3746 w33 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">Bank debt and oth<span class=\"_ _1\"></span>er floating rat<span class=\"_ _1\"></span>e debt<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3746 w24 hfd\"><div class=\"t m0 x1b0 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">1,382<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3746 w24 hfd\"><div class=\"t m0 x1b0 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">1,372<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3746 w24 hfd\"><div class=\"t m0 x1ad hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3746 w24 hfd\"><div class=\"t m0 x1b0 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">1,054<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3746 w24 hfd\"><div class=\"t m0 x1b0 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">1,043<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3746 w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3747 w33 hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls20a ws1\">Gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3747 w24 hfe\"><div class=\"t m0 x1a5 hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">2,974<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3747 w24 hfe\"><div class=\"t m0 x1a5 hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">2,996<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3747 w24 hfe\"><div class=\"t m0 x1a3 hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(22)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3747 w24 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1ea ws1\">2,697<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3747 w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff3f fsba fc4 sc0 ls1ea ws1\">2,728<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3747 w24 hfe\"><div class=\"t m0 x192 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3748 w33 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> <span class=\"ls1e6\">currency derivative liabil<span class=\"_ _1\"></span>ities</span><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1e5 y3748 w24 hfe\"><div class=\"t m0 x192 hfb y2914 ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3748 w24 hfe\"><div class=\"t m0 x192 hfb y2914 ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3748 w24 hfe\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3748 w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3748 w24 hfe\"><div class=\"t m0 x1a2 hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3748 w24 hfe\"><div class=\"t m0 x1 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3749 w33 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency derivativ<span class=\"_ _0\"></span>e assets<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3749 w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3749 w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y3749 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3749 w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3749 w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3749 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y374a w33 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y374a w24 hfd\"><div class=\"t m0 x196 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y374a w24 hfd\"><div class=\"t m0 x19b hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y374a w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y374a w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y374a w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y374a w24 hfd\"><div class=\"t m0 x1 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1fe y374b w195 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1e1 ws1\">Net debt att<span class=\"_ _1\"></span>ributable to <span class=\"_ _1\"></span>shareholders<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w196 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1eb ws1\">of the Company<span class=\"_ _216\"> </span></div></td><td class=\"c x1e5 y374c w24 h102\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,<span class=\"ls1dd\">775</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fa y374c w24 h102\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y374c w24 h102\"><div class=\"t m0 x1a3 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">(2<span class=\"ls1d7\">2</span><span class=\"ls1d7\">)</span> </div></td><td class=\"c x1e6 y374c w24 h102\"><div class=\"t m0 x1b0 hfb y28d7 ff3f fsba fc4 sc0 ls1ea ws1\">2,616<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y374c w24 h102\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls1ea ws1\">2,647<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y374c w24 h102\"><div class=\"t m0 x192 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td></tr></table>The fair values<span class=\"_ _1\"></span> of debentures and unsecure<span class=\"_ _1\"></span>d bonds have been establi<span class=\"_ _1\"></span>shed by obtaining quoted marke<span class=\"_ _1\"></span>t prices from brokers. The bank <span class=\"_ _1\"></span>debt and other float<span class=\"_ _1\"></span>ing rate debt has be<span class=\"_ _1\"></span>en valued assuming it<span class=\"_ _1\"></span> could be renegotiate<span class=\"_ _1\"></span>d at contracted margins<span class=\"_ _1\"></span>. The d<span class=\"_ _1\"></span>erivati<span class=\"_ _1\"></span>ves have<span class=\"_ _1\"></span><span class=\"ls1\"> <span class=\"ls234\">been valued by calculat<span class=\"_ _1\"></span>ing the present val<span class=\"_ _1\"></span>ue of expected futur<span class=\"_ _1\"></span>e cash flows, usi<span class=\"_ _1\"></span>ng </span></span>appropriate market discount rates, <span class=\"_ _1\"></span>by a third party<span class=\"ls1\">. </span>Short term debtors <span class=\"_ _1\"></span>and creditors and other <span class=\"_ _1\"></span>investments have been excl<span class=\"_ _1\"></span>uded from the disclosure<span class=\"_ _1\"></span>s on the basis that<span class=\"_ _1\"></span> the<span class=\"ls1\"> <span class=\"ls231\">fai</span></span>r value is <span class=\"ls233\">materiall<span class=\"_ _1\"></span>y <span class=\"ls223\">equivalent to t<span class=\"_ _1\"></span>he book value. The fair value <span class=\"_ _1\"></span>hierarchy level of debt held <span class=\"_ _1\"></span>at amortised cost </span></span>is<span class=\"ls1\"> <span class=\"ls24b\">Level 2 (as</span> <span class=\"ls234\">defined in <span class=\"_ _1\"></span>Note 10).<span class=\"_ _216\"> </span></span></span>Loan to <span class=\"ls1\">v<span class=\"ls23f\">alue (LTV)</span> </span>LTV is the rati<span class=\"_ _1\"></span>o of principal amount of <span class=\"_ _1\"></span>gross debt less <span class=\"ls226\">cash, short ter<span class=\"_ _1\"></span>m deposits and liquid investments to the aggregate </span>value of properties and i<span class=\"_ _1\"></span>nvestments<span class=\"ls235\">. <span class=\"ls24a\">EPRA LTV has been discl<span class=\"_ _1\"></span>osed in Table E. <span class=\"ls1\"> </span></span></span>Group LTV<span class=\"ls1\"> </span><table class=\"s w199 h17e\" id=\"_1022423e-e959-4c69-8da7-9f9d88813595\"><tr><td></td><td class=\"c x32d y3761 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3761 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3762 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3762 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3763 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff42 fsba fc4 sc0 ls20a ws1\">Group LTV<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3763 w24 hfd\"><div class=\"t m0 x1a7 hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">32.1%<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3763 w24 hfd\"><div class=\"t m0 x178 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">31.7%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3764 w25 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3764 w24 hfe\"><div class=\"t m0 x198 hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">3,006<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3764 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">2,740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3765 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits <span class=\"_ _1\"></span>(<span class=\"ls1e6\">consolidated <span class=\"ls1e3\">statement of cash flows</span><span class=\"ls1e3\">)<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x144 hff y2ec6 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x193 hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3765 w24 hfd\"><div class=\"t m0 x19a hfb y29a1 ff42 fsba fc11 sc0 ls1da ws1\">(131)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3765 w24 hfd\"><div class=\"t m0 x192 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3766 w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt for <span class=\"_ _1\"></span>LTV calculation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3766 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,875<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3766 w24 hfe\"><div class=\"t m0 x1a6 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">2,719<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3767 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation (Note 1<span class=\"_ _1\"></span>0)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3767 w24 hfd\"><div class=\"t m0 x178 hfb y28dd ff42 fsba fc11 sc0 ls1eb ws1\">6,316<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3767 w24 hfd\"><div class=\"t m0 x1a7 hfb y28dd ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3768 w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1d5 ws1\">Investments in jo<span class=\"_ _0\"></span>int ventures (Not<span class=\"_ _0\"></span>e 11)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3768 w24 hfd\"><div class=\"t m0 x1a6 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">2,611<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3768 w24 hfd\"><div class=\"t m0 x1a7 hfb y28ef ff3f fsba fc4 sc0 ls208 ws1\">2,462<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3769 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls204 ws1\">Other <span class=\"ls1e5\">investments and prop<span class=\"_ _0\"></span>erty, plant and eq<span class=\"_ _0\"></span>uipment (<span class=\"ls1e6\">consolidated <span class=\"ls1eb\">balance sheet</span><span class=\"ls1eb\">)<span class=\"_ _216\"> </span></span></span></span></div><div class=\"t m0 x3b hff y2986 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x12b hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3769 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff42 fsba fc11 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3769 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376a w25 hfd\"><div class=\"t m0 x0 hfb y292f ff42 fsba fc4 sc0 ls1e0 ws1\">Total assets for LTV <span class=\"_ _1\"></span>calculation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376a w24 hfd\"><div class=\"t m0 x1a5 hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">8,965<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376a w24 hfd\"><div class=\"t m0 x178 hfb y292f ff3f fsba fc4 sc0 ls1d7 ws1\">8,<span class=\"ls1dd\">577</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td></tr></table>Proportionally consol<span class=\"_ _0\"></span>idated LTV<span class=\"ls1\"> </span><table class=\"s w198 h17d\" id=\"_4e174663-9eab-4c93-87e4-df82c2fd89be\"><tr><td></td><td class=\"c x32d y348e w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y348e w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y348f w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y348f wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3759 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1eb ws1\">Proportionally consol<span class=\"_ _1\"></span>idated LTV<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3759 w24 hfe\"><div class=\"t m0 x198 hfb y28e1 ff42 fsba fc11 sc0 ls1dd ws1\">39.2%<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3759 w24 hfe\"><div class=\"t m0 x178 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">38.1%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375a w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y375a w24 hfe\"><div class=\"t m0 x178 hfb y28f3 ff42 fsba fc11 sc0 ls1e9 ws1\">4,157<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375a w24 hfe\"><div class=\"t m0 x178 hfb y28f3 ff3f fsba fc4 sc0 ls1dd ws1\">3,738<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375b w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits<span class=\"_ _216\"> </span></div><div class=\"t m0 x84 hff y29b3 ff44 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x122 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y375b w24 hfd\"><div class=\"t m0 x19b hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(195)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375b w24 hfd\"><div class=\"t m0 x19a hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(101)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375c w25 hfd\"><div class=\"t m0 x0 hfb y2c1d ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt for <span class=\"_ _1\"></span>proportional LTV calculation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y375c w24 hfd\"><div class=\"t m0 x1a7 hfb y2c1d ff42 fsba fc11 sc0 ls1dd ws1\">3,962<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375c w24 hfd\"><div class=\"t m0 x178 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">3,637<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375d w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation (Note 1<span class=\"_ _1\"></span>0)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y375d w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">6,31<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375d w24 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375e w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1ed ws1\">Share of property of j<span class=\"_ _1\"></span>oint ventures (Note 10)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y375e w24 hfd\"><div class=\"t m0 x1a5 hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">3,74<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375e w24 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">3,421<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y375f w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments and <span class=\"_ _1\"></span>property, p<span class=\"_ _1\"></span>lant and equ<span class=\"_ _1\"></span>ipment (<span class=\"ls1e6\">consolidated <span class=\"ls1eb\">balance sh<span class=\"_ _1\"></span>eet</span><span class=\"ls1eb\">)<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x3b hff y2cf3 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x12b hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y375f w24 hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff42 fsba fc11 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y375f w24 hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3760 w25 hfd\"><div class=\"t m0 x0 hfb y28dd ff42 fsba fc4 sc0 ls1e0 ws1\">Total assets for pr<span class=\"_ _1\"></span>oportional LTV calculation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3760 w24 hfd\"><div class=\"t m0 x199 hfb y28dd ff42 fsba fc11 sc0 ls1df ws1\">10,10<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3760 w24 hfd\"><div class=\"t m0 x1a7 hfb y28dd ff3f fsba fc4 sc0 ls1e0 ws1\">9,536<span class=\"ls1\"> </span></div></td></tr></table>1. <span class=\"_ _24\"> </span><span class=\"ls290\">Cash and short term depo<span class=\"_ _1\"></span>sits exclude tenant de<span class=\"_ _1\"></span>posits of <span class=\"ls1\">\u00a3<span class=\"ls1f2\">45<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>36<span class=\"ls1f5\">m). </span> </span></span>2. <span class=\"ls1fb\">The \u00a3<span class=\"ls1fd\">13<span class=\"ls1f5\">m (202</span></span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>14<span class=\"ls1f5\">m) differen<span class=\"_ _1\"></span>ce between oth<span class=\"_ _1\"></span>er investment<span class=\"_ _1\"></span>s and plant,<span class=\"_ _1\"></span> property and <span class=\"_ _1\"></span>equipment per <span class=\"_ _1\"></span>the<span class=\"ls1\"> <span class=\"ls1f4\">consolidated</span> <span class=\"ls1f2\">balance </span></span></span>sheet totalling \u00a3<span class=\"ls203\">51<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fb\">64</span></span></span>m) relat<span class=\"_ _1\"></span>es to a rig<span class=\"_ _1\"></span>ht<span class=\"ls1\">-<span class=\"ls1fb\">of</span>-<span class=\"ls200\">use asset recognised under a lease which i<span class=\"_ _1\"></span>s classified as property, plant </span></span></span></span>and equipment which<span class=\"ls1\"> <span class=\"ls1f9\">is not included with<span class=\"_ _0\"></span>in </span>t<span class=\"ls1fb\">otal assets for the purposes of<span class=\"_ _1\"></span> the LTV calculation. <span class=\"ls1\"> </span></span></span>3. <span class=\"ls290\">Cash and sho<span class=\"_ _1\"></span>rt term deposits excl<span class=\"_ _1\"></span>ude tenant dep<span class=\"ls1fb\">osits of \u00a3<span class=\"ls1fe\">77<span class=\"ls1f5\">m (20<span class=\"_ _1\"></span>2<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fb\">64</span></span></span>m). </span></span></span></span>Net Debt to <span class=\"_ _0\"></span>EBITDA<span class=\"ls1\"> </span>Net Debt t<span class=\"_ _1\"></span>o EBITDA is <span class=\"_ _1\"></span>the ratio <span class=\"_ _1\"></span>of princi<span class=\"_ _1\"></span>pal amount o<span class=\"_ _1\"></span>f gross deb<span class=\"_ _1\"></span>t less cas<span class=\"_ _1\"></span>h, short <span class=\"_ _1\"></span>term deposit<span class=\"_ _1\"></span>s and liqu<span class=\"_ _1\"></span>id investment<span class=\"_ _1\"></span>s to earnings before interest, tax, de<span class=\"_ _0\"></span>preciation and amortisation (E<span class=\"_ _0\"></span>BITDA). <span class=\"ls1\"> </span>The Group ratio excl<span class=\"_ _1\"></span>udes joint venture <span class=\"_ _1\"></span>borrowings and include<span class=\"ls224\">s distributions and other receivables fr<span class=\"_ _1\"></span>om joint ventures. <span class=\"ls1\"> </span></span>Group Net Debt <span class=\"_ _0\"></span>to EBITDA<span class=\"ls1\"> </span><table class=\"s w19a h180\" id=\"_dd610acc-5f6d-4c62-acc2-863a8f3c95c1\"><tr><td></td><td class=\"c x32d y3772 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3772 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3773 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3773 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3774 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls20a ws1\">Group Net Debt <span class=\"_ _1\"></span>to EBITDA<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3774 w24 hfd\"><div class=\"t m0 x19b hfb y28f7 ff42 fsba fc11 sc0 ls1dd ws1\">7.<span class=\"ls1\">7x</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3774 w24 hfd\"><div class=\"t m0 x19b hfb y28f7 ff3f fsba fc4 sc0 ls1d7 ws1\">8.0x<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3775 w25 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3775 w24 hfe\"><div class=\"t m0 x198 hfb y2914 ff42 fsba fc11 sc0 ls1dd ws1\">3,006<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3775 w24 hfe\"><div class=\"t m0 x1a7 hfb y2914 ff3f fsba fc4 sc0 ls208 ws1\">2,740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3776 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits <span class=\"_ _1\"></span>(<span class=\"ls1e6\">consolidated <span class=\"ls1e3\">statement of cash <span class=\"ls1e7\">flows</span></span><span class=\"ls1e3\"><span class=\"ls1e7\">)<span class=\"_ _216\"> </span></span></span></span></div><div class=\"t m0 x144 hff y2ed6 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x193 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3776 w24 hfe\"><div class=\"t m0 x19a hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(131)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3776 w24 hfe\"><div class=\"t m0 x192 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3777 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt for <span class=\"ls1\">G<span class=\"ls1e8\">roup Net Debt to EBITDA calculation</span></span><span class=\"ls1\"><span class=\"ls1e8\"> </span> </span></div></td><td class=\"c x1fc y3777 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">2,875<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3777 w24 hfe\"><div class=\"t m0 x1a6 hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">2,719<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3778 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying Pr<span class=\"_ _1\"></span>ofit (Table A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3778 w24 hfe\"><div class=\"t m0 x19d hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">294<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3778 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">279<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3779 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1eb ws1\">Plus Net financi<span class=\"_ _1\"></span>ng charges (Note 6)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3779 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">85<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3779 w24 hfd\"><div class=\"t m0 x192 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">60<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y377a w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">Less Underlying Profit due t<span class=\"_ _1\"></span>o joint ventures<span class=\"_ _216\"> </span></div><div class=\"t m0 x17f hff y2ed7 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 xa1 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y377a w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(76)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y377a w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(90)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y377b w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1eb ws1\">Plus<span class=\"ls1\"> </span>distributions <span class=\"_ _1\"></span>and other receivables <span class=\"_ _1\"></span>from joint ventures<span class=\"_ _216\"> </span></div><div class=\"t m0 xd9 hff y290d ff44 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x79 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y377b w24 hfd\"><div class=\"t m0 x192 hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">66 </div></td><td class=\"c x1fd y377b w24 hfd\"><div class=\"t m0 x1a2 hfb y28e8 ff3f fsba fc4 sc0 ls1d7 ws1\">84<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y377c w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1eb ws1\">Plus depreciation <span class=\"_ _1\"></span>and amortisation (Table <span class=\"_ _1\"></span>A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y377c w24 hfe\"><div class=\"t m0 x1aa hfb y28f5 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fd y377c w24 hfe\"><div class=\"t m0 x1 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td class=\"c x1f9 y377d w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls1e0 ws1\">Total EBITDA for <span class=\"ls1\">G<span class=\"ls1e8\">roup Net Debt to EBITDA calculatio<span class=\"_ _0\"></span>n</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y377d w24 hfd\"><div class=\"t m0 x19a hfb y28f7 ff42 fsba fc11 sc0 ls1dd ws1\">37<span class=\"ls1\">4</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y377d w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1dd ws1\">341<span class=\"ls1\"> </span></div></td></tr></table>Proportiona<span class=\"ls240\">lly<span class=\"ls1\"> <span class=\"ls242\">consolidated Net Debt to EBITDA</span> </span></span><table class=\"s w198 h17f\" id=\"_147b16d5-70c6-43a3-b5a1-69d41a7026eb\"><tr><td></td><td class=\"c x32d y3761 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3761 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3762 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3762 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y376b w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff42 fsba fc4 sc0 ls1eb ws1\">Proportionally consol<span class=\"_ _1\"></span>idated Net Debt to EBITDA<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376b w24 hfe\"><div class=\"t m0 x19b hfb y28f5 ff42 fsba fc11 sc0 ls1eb ws1\">9.2x<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376b w24 hfe\"><div class=\"t m0 x19d hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">9.3x<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376c w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376c w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1e9 ws1\">4,157<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376c w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">3,738<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y359e w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits<span class=\"_ _216\"> </span></div><div class=\"t m0 x84 hff y2eda ff44 fsbc fc4 sc0 ls1 ws1\">4</div><div class=\"t m0 x122 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y359e w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(195)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y359e w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(101)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376d w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff42 fsba fc4 sc0 ls1e0 ws1\">Total net debt for <span class=\"_ _1\"></span>proportional Net Debt to EBITDA cal<span class=\"_ _1\"></span>culation<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376d w24 hfe\"><div class=\"t m0 x1a7 hfb y2943 ff42 fsba fc11 sc0 ls1dd ws1\">3,962<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376d w24 hfe\"><div class=\"t m0 x178 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">3,637<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376e w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying Pr<span class=\"_ _1\"></span>ofit <span class=\"ls1db\">(Table A)<span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y376e w24 hfe\"><div class=\"t m0 x19d hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">294<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376e w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">279<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y376f w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1eb ws1\">Plus Net financi<span class=\"_ _1\"></span>ng charges (Table A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y376f w24 hfd\"><div class=\"t m0 x1a3 hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">133<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y376f w24 hfd\"><div class=\"t m0 x1a3 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">103<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3770 w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1eb ws1\">Plus depreciation <span class=\"_ _1\"></span>and amortisation (Table <span class=\"_ _1\"></span>A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3770 w24 hfe\"><div class=\"t m0 x1aa hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fd y3770 w24 hfe\"><div class=\"t m0 x1 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td class=\"c x1f9 y3771 w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls1e0 ws1\">Total EBITDA for proporti<span class=\"_ _1\"></span>onal Net Debt to EBITDA calculat<span class=\"_ _1\"></span>ion<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3771 w24 hfe\"><div class=\"t m0 x19d hfb y28e6 ff42 fsba fc11 sc0 ls1e9 ws1\">432<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3771 w24 hfe\"><div class=\"t m0 x19d hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">390<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls290\">Cash and short ter<span class=\"_ _1\"></span>m<span class=\"ls1\"> <span class=\"ls1f2\">deposits exclude tenant deposits of \u00a345<span class=\"ls1f5\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>36</span>m). <span class=\"ls1\"> </span></span></span></span></span></span>2.<span class=\"ls1\"> <span class=\"ls297\">Underlying Pr<span class=\"_ _1\"></span>ofit due to joint<span class=\"_ _1\"></span> ventures<span class=\"ls1\"> <span class=\"ls1fb\">of</span> \u00a3<span class=\"ls1fe\">76<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>90<span class=\"ls1f5\">m) <span class=\"ls1fc\">(consolidated</span></span> <span class=\"ls1f9\">income st<span class=\"_ _0\"></span>atement</span>)<span class=\"ls1f7\">. </span> </span></span></span>3.<span class=\"ls1\"> <span class=\"ls1f1\">Includes d<span class=\"ls1f9\">istributions and other re<span class=\"_ _0\"></span>ceivables from joint v<span class=\"_ _0\"></span>entures <span class=\"ls1fb\">of</span></span></span> \u00a361<span class=\"ls1f5\">m (202</span>4<span class=\"ls1f6\">/2</span>5 \u00a372<span class=\"_ _0\"></span><span class=\"ls1f5\">m) </span>(<span class=\"ls1f4\">consolidated statement of cash flows</span>) <span class=\"ls1f4\">and</span> </span>f<span class=\"ls1fe\">ees and other income received from joint ventures</span> <span class=\"ls1fb\">of</span> \u00a35m <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>12<span class=\"ls1f5\">m).</span> 4.<span class=\"ls1\"> <span class=\"_ _6\"></span><span class=\"ls290\">Cash and short term deposits exclude<span class=\"_ _1\"></span> tenant deposits of <span class=\"_ _1\"></span>\u00a3<span class=\"ls1fe\">77<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fb\">64</span></span></span>m). <span class=\"ls1\"> </span></span></span></span></span>British Land Uns<span class=\"_ _0\"></span>ecured Financial Coven<span class=\"_ _0\"></span>ants<span class=\"ls1\"> </span>The two financial<span class=\"_ _1\"></span> covenants applicable <span class=\"_ _1\"></span>to the Group unsecured debt <span class=\"_ _1\"></span>are shown below:<span class=\"ls1\"> </span><table class=\"s w199 h182\" id=\"_7aff0403-c71f-4b9e-8db7-9c65f4489ea0\"><tr><td></td><td class=\"c x32d y3785 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3785 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3786 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3786 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3787 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1e1 ws1\">Net Borrowings<span class=\"_ _1\"></span> not to exceed <span class=\"_ _1\"></span>175% of Adjusted <span class=\"_ _1\"></span>Capital and <span class=\"ls1d6\">Reser<span class=\"_ _1\"></span>ves</span><span class=\"ls1d6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3787 w24 hfd\"><div class=\"t m0 x19b hfb y292b ff42 fsba fc11 sc0 ls1e9 ws1\">48%<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3787 w24 hfd\"><div class=\"t m0 x19b hfb y292b ff3f fsba fc4 sc0 ls1d8 ws1\">47%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3788 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3788 w24 hfe\"><div class=\"t m0 x198 hfb y28e1 ff42 fsba fc11 sc0 ls1dd ws1\">3,006<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3788 w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">2,740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3789 w25 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits <span class=\"_ _1\"></span>(<span class=\"ls1e6\">consolidated <span class=\"ls1e3\">statement of cash flows</span><span class=\"ls1e3\">)<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x144 hff y28e4 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x193 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3789 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(131)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3789 w24 hfd\"><div class=\"t m0 x192 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y378a w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff42 fsba fc4 sc0 ls1e1 ws1\">Net Borrowings<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y378a w24 hfe\"><div class=\"t m0 x1a7 hfb y28f3 ff42 fsba fc11 sc0 ls1d7 ws1\">2,875<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378a w24 hfe\"><div class=\"t m0 x1a6 hfb y28f3 ff3f fsba fc4 sc0 ls208 ws1\">2,719<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y378b w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1ed ws1\">Share capital and reserv<span class=\"_ _1\"></span>es (<span class=\"ls1e6\">consolidated <span class=\"ls1eb\">balance sheet</span><span class=\"ls1eb\">)<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x1fc y378b w24 hfe\"><div class=\"t m0 x1a7 hfb y28f5 ff42 fsba fc11 sc0 ls1d7 ws1\">5,932<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378b w24 hfe\"><div class=\"t m0 x1b0 hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">5,<span class=\"ls208\">710</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y378c w25 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls20a ws1\">Deferred tax<span class=\"_ _1\"></span> liabiliti<span class=\"_ _1\"></span>es (Table A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y378c w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y378c w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td></tr><tr><td class=\"c x1f9 y378d w25 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls1e0 ws1\">Trading property<span class=\"ls1\"> <span class=\"ls1e3\">surplus</span> <span class=\"ls1db\">(Table A)</span> </span></div></td><td class=\"c x1fc y378d w24 hfe\"><div class=\"t m0 x1a4 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">12<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378d w24 hfe\"><div class=\"t m0 x1 hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td></tr><tr><td class=\"c x1f9 y378e w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">Exceptional refin<span class=\"_ _1\"></span>ancing charges (see below)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y378e w24 hfd\"><div class=\"t m0 x1a2 hfb y29a1 ff42 fsba fc11 sc0 ls1eb ws1\">95<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378e w24 hfd\"><div class=\"t m0 x1a3 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">107<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y378f w25 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls214 ws1\">Fair value adjust<span class=\"_ _1\"></span>ments of financial ins<span class=\"_ _1\"></span>truments (Table A)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y378f w24 hfe\"><div class=\"t m0 x1a3 hfb y2914 ff42 fsba fc11 sc0 ls1da ws1\">(27)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y378f w24 hfe\"><div class=\"t m0 x1a3 hfb y2914 ff3f fsba fc4 sc0 ls1db ws1\">(23)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3790 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1e1 ws1\">Adjusted Capi<span class=\"_ _1\"></span>tal and Reserve<span class=\"_ _1\"></span>s<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3790 w24 hfd\"><div class=\"t m0 x1a7 hfb y292b ff42 fsba fc11 sc0 ls1eb ws1\">6,016<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3790 w24 hfd\"><div class=\"t m0 x1b0 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">5,<span class=\"ls1d7\">801</span><span class=\"ls1d7\"><span class=\"ls1\"> </span></span></div></td></tr></table>In <span class=\"ls226\">calculating Adjusted Capital and Reserves <span class=\"_ _1\"></span>for the purpose of the unsecured debt financial <span class=\"_ _1\"></span>covenants, there is an </span>adjustment of \u00a3<span class=\"ls220\">95<span class=\"ls233\">m (20<span class=\"_ _1\"></span>2<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span>10<span class=\"_ _0\"></span>7</span>m) to r<span class=\"_ _1\"></span>eflect <span class=\"_ _1\"></span>the cumu<span class=\"_ _1\"></span>lative <span class=\"_ _1\"></span>net amor<span class=\"_ _1\"></span>tised<span class=\"ls1\"> <span class=\"ls223\">exceptional it<span class=\"_ _1\"></span>ems relating to the </span></span></span></span>refinancings in the years end<span class=\"_ _0\"></span>ed 31 March 2005, 200<span class=\"_ _0\"></span>6 and 2007.<span class=\"ls1\"> </span><table class=\"s w199 h181\" id=\"_1f72f7f2-5d55-4652-8f42-ef1d77af07a3\"><tr><td></td><td class=\"c x32d y377e w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y377e w19b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1 ws1\">2<span class=\"ls216\">02</span>5<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f7 y377f w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y377f wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3780 w25 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls1e1 ws1\">Net Unsecured <span class=\"_ _1\"></span>Borrowings not t<span class=\"_ _1\"></span>o exceed 70% of Un<span class=\"_ _1\"></span>encumbered Assets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3780 w24 hfd\"><div class=\"t m0 x196 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">44%<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3780 w24 hfd\"><div class=\"t m0 x19b hfb y28ef ff3f fsba fc4 sc0 ls1d8 ws1\">43%<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3781 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1eb ws1\">Principal amount of<span class=\"_ _1\"></span> gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3781 w24 hfd\"><div class=\"t m0 x198 hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">3,006<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3781 w24 hfd\"><div class=\"t m0 x1a7 hfb y292f ff3f fsba fc4 sc0 ls208 ws1\">2,740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3782 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1dd ws1\">Less cash and short term deposits <span class=\"_ _1\"></span>not subject to a security inter<span class=\"_ _1\"></span>est <span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3782 w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(131)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3782 w24 hfe\"><div class=\"t m0 x192 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3783 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">Less principal amount of secured <span class=\"_ _1\"></span>and non<span class=\"ls1\">-<span class=\"ls1ee\">recourse borrowing<span class=\"_ _0\"></span>s</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3783 w24 hfd\"><div class=\"t m0 x1b0 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(480)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3783 w24 hfd\"><div class=\"t m0 x19b hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(501)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3784 w25 hfd\"><div class=\"t m0 x0 hfb y2c1d ff42 fsba fc4 sc0 ls1e1 ws1\">Net Unsecured <span class=\"_ _1\"></span>Borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3784 w24 hfd\"><div class=\"t m0 x1a7 hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">2,395<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3784 w24 hfd\"><div class=\"t m0 x1a6 hfb y2c1d ff3f fsba fc4 sc0 ls208 ws1\">2,218<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y354f w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls20a ws1\">Group property<span class=\"_ _1\"></span> portfolio val<span class=\"_ _1\"></span>uation (Note 1<span class=\"_ _1\"></span>0)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y354f w24 hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">6,316<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y354f w24 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">6,065<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3550 w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d5 ws1\">Investments in jo<span class=\"_ _0\"></span>int ventures (Not<span class=\"_ _0\"></span>e 11)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3550 w24 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">2,611<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3550 w24 hfd\"><div class=\"t m0 x1a7 hfb y2928 ff3f fsba fc4 sc0 ls208 ws1\">2,462<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3551 w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments and <span class=\"_ _1\"></span>property, p<span class=\"_ _1\"></span>lant and equ<span class=\"_ _1\"></span>ipment (<span class=\"ls1e6\">consolidated <span class=\"ls1eb\">balance sh<span class=\"_ _1\"></span>eet</span><span class=\"ls1eb\">)<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x3b hff y2cf3 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x12b hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3551 w24 hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff42 fsba fc11 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3551 w24 hfe\"><div class=\"t m0 x1a2 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">50<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3552 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">Less investments in joint<span class=\"_ _1\"></span> ventures<span class=\"ls1\"> <span class=\"ls1db\">(Note 11)</span> </span></div></td><td class=\"c x1fc y3552 w24 hfd\"><div class=\"t m0 x1a5 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(2,611)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3552 w24 hfd\"><div class=\"t m0 x1ae hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(2,462)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3553 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">Less encumbered assets (Note 10)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3553 w24 hfe\"><div class=\"t m0 x1c1 hfb y28d5 ff42 fsba fc11 sc0 ls1da ws1\">(925)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3553 w24 hfe\"><div class=\"t m0 x1a6 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(905)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3554 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1e2 ws1\">Unencumbered Assets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3554 w24 hfe\"><div class=\"t m0 x1a5 hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">5,429<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3554 w24 hfe\"><div class=\"t m0 x1b0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">5,210<span class=\"ls1\"> </span></div></td></tr></table>1. <span class=\"_ _24\"> </span><span class=\"ls290\">Cash and short term depo<span class=\"_ _1\"></span>sits exclude tenant de<span class=\"_ _1\"></span>posits of \u00a3<span class=\"ls1f2\">45<span class=\"ls1f5\">m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>36</span>m). <span class=\"ls1\"> </span></span></span></span>2. <span class=\"ls1fb\">The \u00a3<span class=\"ls1fd\">13<span class=\"ls1f5\">m (202</span></span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>14<span class=\"ls1f5\">m) differen<span class=\"_ _1\"></span>ce between oth<span class=\"_ _1\"></span>er investment<span class=\"_ _1\"></span>s and plant,<span class=\"_ _1\"></span> property and <span class=\"_ _1\"></span>equipment per <span class=\"_ _1\"></span>the balance <span class=\"_ _1\"></span>sheet totall<span class=\"_ _1\"></span>ing </span>\u00a3<span class=\"ls203\">51<span class=\"ls1f5\">m (202</span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fb\">64<span class=\"ls1f5\">m) relates<span class=\"_ _1\"></span> to a right<span class=\"_ _1\"></span><span class=\"ls1\">-<span class=\"ls1fb\">of</span>-<span class=\"ls200\">use asset recognised under a lease which is cl<span class=\"_ _1\"></span>assified as property, plant and equipment </span></span></span></span></span>which is not<span class=\"_ _1\"></span> includ<span class=\"ls1fe\">ed within <span class=\"ls200\">unencumbered <span class=\"ls1f4\">assets for t<span class=\"_ _1\"></span>he purposes of the covenant<span class=\"ls1\"> </span>calculation. </span></span></span>Reconciliation of<span class=\"_ _0\"></span> movement in Group net debt<span class=\"_ _0\"></span> for the year en<span class=\"_ _0\"></span>ded 31 March 202<span class=\"ls1\">6 </span><table class=\"s w1ae h185\" id=\"_ffa24af3-6afa-4bbe-a3de-f43e09719bda\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x357 y3791 w1af h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Arrangement<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"c x358 y3792 w1b0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Foreign<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x33e y3792 w1b1 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d5 ws1\">cost<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x359 y3793 w1b2 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x2d4 y3793 w1b3 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d3 ws1\">Cash flows<span class=\"_ _216\"> </span></div></td><td class=\"c x342 y3793 w1b4 h148\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Transfers</div><div class=\"t m0 x341 hfc y3465 ff40 fsbb fc11 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x35a y3793 w1b5 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls235 ws1\">exchange<span class=\"_ _216\"> </span></div></td><td class=\"c x26f y3793 w1b6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x24f y3793 w1b7 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1cf ws1\">amortisation<span class=\"_ _216\"> </span></div></td><td class=\"c x35b y3793 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x35c y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x345 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x346 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37a9 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37aa w31 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1ed ws1\">Short term borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x35d y37aa w58 hfd\"><div class=\"t m0 x192 hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37aa w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(43)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37aa w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">247<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37aa w24 hfd\"><div class=\"t m0 x1aa hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1e6 y37aa w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y37aa w24 hfd\"><div class=\"t m0 x1aa hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y37aa w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">521<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ab w31 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">Long term borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x35d y37ab w58 hfe\"><div class=\"t m0 x1b0 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,417<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37ab w24 hfe\"><div class=\"t m0 x19d hfb y28d7 ff42 fsba fc11 sc0 ls1dd ws1\">30<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ab w24 hfe\"><div class=\"t m0 x1a6 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(247)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37ab w24 hfe\"><div class=\"t m0 x1a4 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37ab w24 hfe\"><div class=\"t m0 x8f hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ab w24 hfe\"><div class=\"t m0 x8f hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ab w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,475<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ac w31 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"_ _216\"> </span></div><div class=\"t m0 x1be hff y2982 ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x6d hfb y292b ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x35d y37ac w58 hfd\"><div class=\"t m0 x1a3 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37ac w24 hfd\"><div class=\"t m0 x1ad hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(5)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ac w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y37ac w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y37ac w24 hfd\"><div class=\"t m0 x1aa hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">6 </div></td><td class=\"c x1fc y37ac w24 hfd\"><div class=\"t m0 x1 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37ac w24 hfd\"><div class=\"t m0 x1a3 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(23)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ad w31 h102\"><div class=\"t m0 x0 hfb y2cf6 ff3f fsba fc4 sc0 ls1e0 ws1\">Total liabili<span class=\"_ _1\"></span>ties from </div><div class=\"t m0 x0 hfb y2cf7 ff3f fsba fc4 sc0 ls1e7 ws1\">financing<span class=\"ls1\"> <span class=\"ls1e6\">activities<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 xc hff y2efa ff44 fsbc fc4 sc0 ls1 ws1\">3</div><div class=\"t m0 x29 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x35d y37ad w58 h102\"><div class=\"t m0 x1a5 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">2,704<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37ad w24 h102\"><div class=\"t m0 x1a3 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">2<span class=\"ls1eb\">61</span> </div></td><td class=\"c x21d y37ad w24 h102\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y37ad w24 h102\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y37ad w24 h102\"><div class=\"t m0 x1aa hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fc y37ad w24 h102\"><div class=\"t m0 x1 hfb y2914 ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fd y37ad w24 h102\"><div class=\"t m0 x1a7 hfb y2914 ff42 fsba fc11 sc0 ls1d7 ws1\">2,<span class=\"ls1eb\">973</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y37ae w31 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x35d y37ae w58 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(57)<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37ae w24 hfe\"><div class=\"t m0 x19d hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(119)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ae w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y37ae w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y37ae w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y37ae w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37ae w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(176)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37af w31 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls1e1 ws1\">Net debt<span class=\"ls1\"> </span></div></td><td class=\"c x35d y37af w58 hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">2,647<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y37af w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">1<span class=\"ls1e9\">42</span> </div></td><td class=\"c x21d y37af w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y37af w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y37af w24 hfe\"><div class=\"t m0 x1aa hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fc y37af w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x1fd y37af w24 hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">2,<span class=\"ls1dd\">797</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td></tr></table>Reconciliation of<span class=\"_ _0\"></span> movement in Group net debt<span class=\"_ _0\"></span> for the year en<span class=\"_ _0\"></span>ded 31 March 202<span class=\"ls1\">5 </span><table class=\"s w19c h183\" id=\"_67e1c0c1-5e84-48b5-af1a-a908a94a842b\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x33c y3791 w19d h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Arrangement<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"c x33d y3792 w19e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Foreign<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x33e y3792 w19f h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d5 ws1\">cost<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x33f y3793 w1a0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">4<span class=\"_ _216\"> </span></span></div></td><td class=\"c x340 y3793 w1a1 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Cash flows<span class=\"_ _216\"> </span></div></td><td class=\"c x342 y3793 w1a2 h148\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Transfers</div><div class=\"t m0 x341 hfc y3465 ff41 fsbb fc4 sc0 ls1 ws1\">1<span class=\"_ _216\"> </span></div></td><td class=\"c x343 y3794 w1a3 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">exchange<span class=\"_ _216\"> </span></div></td><td class=\"c x337 y3793 w182 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Fair value<span class=\"_ _216\"> </span></div></td><td class=\"c x276 y3794 w1a4 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d5 ws1\">amortisation<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y3793 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x344 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x345 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x346 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3795 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3796 w22 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1ed ws1\">Short term borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3796 w24 hfe\"><div class=\"t m0 x1a4 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3796 w24 hfe\"><div class=\"t m0 x192 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3796 w24 hfe\"><div class=\"t m0 x192 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3796 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3796 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y3796 w24 hfe\"><div class=\"t m0 x1 hfb y2943 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3796 w24 hfe\"><div class=\"t m0 x192 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3797 w22 hfd\"><div class=\"t m0 x0 hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">Long term borrowings<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3797 w24 hfd\"><div class=\"t m0 x1a7 hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">2,202 <span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3797 w24 hfd\"><div class=\"t m0 x19e hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">513<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3797 w24 hfd\"><div class=\"t m0 x1a3 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(311)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3797 w24 hfd\"><div class=\"t m0 x1a4 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3797 w24 hfd\"><div class=\"t m0 x8f hfb y28dd ff3f fsba fc4 sc0 ls1ea ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3797 w24 hfd\"><div class=\"t m0 x1a4 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3797 w24 hfd\"><div class=\"t m0 x1a6 hfb y28dd ff3f fsba fc4 sc0 ls208 ws1\">2,417<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3798 w22 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Derivatives<span class=\"_ _216\"> </span></div><div class=\"t m0 x1be hff y2f06 ff44 fsbc fc4 sc0 ls1 ws1\">4</div><div class=\"t m0 x112 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x348 y3798 w24 hfd\"><div class=\"t m0 x1a3 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(43)<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3798 w24 hfd\"><div class=\"t m0 x1a2 hfb y28ef ff3f fsba fc4 sc0 ls1ea ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3798 w24 hfd\"><div class=\"t m0 x1 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3798 w24 hfd\"><div class=\"t m0 x1aa hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td><td class=\"c x1e6 y3798 w24 hfd\"><div class=\"t m0 x192 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(16)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3798 w24 hfd\"><div class=\"t m0 x1 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3798 w24 hfd\"><div class=\"t m0 x1a3 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3799 w22 h102\"><div class=\"t m0 x0 hfb y2d0e ff3f fsba fc4 sc0 ls1e0 ws1\">Total liabili<span class=\"_ _1\"></span>ties from </div><div class=\"t m0 x0 hfb y2d0f ff3f fsba fc4 sc0 ls1e7 ws1\">financing<span class=\"ls1\"> <span class=\"ls1e6\">activities<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 xc hff y2f08 ff44 fsbc fc4 sc0 ls1 ws1\">5</div><div class=\"t m0 x29 hfb y28dd ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x348 y3799 w24 h102\"><div class=\"t m0 x1b0 hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">2,169<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3799 w24 h102\"><div class=\"t m0 x19d hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">530<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3799 w24 h102\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3799 w24 h102\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3799 w24 h102\"><div class=\"t m0 x1aa hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fc y3799 w24 h102\"><div class=\"t m0 x1 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y3799 w24 h102\"><div class=\"t m0 x1a7 hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">2,704<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y379a w22 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x348 y379a w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(88)<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y379a w24 hfe\"><div class=\"t m0 x1a4 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x21d y379a w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y379a w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y379a w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y379a w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y379a w24 hfe\"><div class=\"t m0 x1a3 hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(57)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y379b w22 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1e1 ws1\">Net debt<span class=\"ls1\"> </span></div></td><td class=\"c x348 y379b w24 hfe\"><div class=\"t m0 x1b0 hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">2,081<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y379b w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">561<span class=\"ls1\"> </span></div></td><td class=\"c x21d y379b w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y379b w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y379b w24 hfe\"><div class=\"t m0 x1aa hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">5 </div></td><td class=\"c x1fc y379b w24 hfe\"><div class=\"t m0 x1 hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y379b w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">Transfers comprises debt maturing f<span class=\"_ _1\"></span>rom long term to short term borrowings.<span class=\"ls1\"> </span></span></span>2.<span class=\"ls1\"> <span class=\"ls290\">Cash flows on <span class=\"_ _1\"></span>derivatives include <span class=\"ls1fb\">\u00a314m<span class=\"fc13 ls1\"> </span>of <span class=\"_ _1\"></span>net receipts on derivative interest<span class=\"_ _1\"></span>.<span class=\"ls1\"> </span></span></span></span>3.<span class=\"ls1\"> <span class=\"ls290\">Cash f<span class=\"_ _1\"></span>lows of <span class=\"ls1fb\">\u00a3261m<span class=\"ls1\"> <span class=\"ls1f9\">includes repaymen<span class=\"_ _0\"></span>t of bank and other bo<span class=\"_ _0\"></span>rrowings of </span></span>\u00a3339m<span class=\"ls1f7\">, proce<span class=\"_ _0\"></span>eds from new borr<span class=\"_ _0\"></span>owings of </span>\u00a3372m<span class=\"ls1f7\">, </span></span></span></span>drawdowns on bank and other borrowings of<span class=\"_ _1\"></span> <span class=\"ls1fb\">\u00a335m<span class=\"ls1\"> (<span class=\"ls28f\">which includes <span class=\"_ _1\"></span><span class=\"ls1fb\">\u00a33m<span class=\"fc13 ls1\"> </span>of issue costs<span class=\"ls1\">)<span class=\"ls1f7\">, net drawdown o<span class=\"_ _0\"></span>f revolving credit facilit<span class=\"_ _0\"></span>ies </span></span></span></span></span></span>of<span class=\"ls1\"> </span>\u00a3198m<span class=\"ls1\"> <span class=\"ls1f4\">an<span class=\"ls1f2\">d capital payments in respec<span class=\"_ _1\"></span>t of interest rate derivati<span class=\"_ _1\"></span>ves of <span class=\"ls1fb\">\u00a319m<span class=\"fc13 ls1\"> </span><span class=\"ls1f4\">as shown in the consolidated statement of cash flows, </span></span></span></span></span>along with <span class=\"ls1fb\">\u00a314m<span class=\"fc13 ls1\"> </span>of net receipts on deri<span class=\"_ _1\"></span>vative interest.<span class=\"ls1\"> </span></span>4.<span class=\"ls1\"> <span class=\"_ _6\"></span><span class=\"ls290\">Cash flows on derivatives include <span class=\"_ _1\"></span>\u00a3<span class=\"ls203\">37<span class=\"ls1f5\">m of net recei<span class=\"_ _1\"></span>pts on deri<span class=\"_ _1\"></span>vative inter<span class=\"_ _1\"></span>es<span class=\"ls1f3\">t.<span class=\"ls1\"> </span></span></span></span></span></span>5.<span class=\"ls1\"> <span class=\"ls290\">Cash f<span class=\"_ _1\"></span>lows of \u00a3530m includes r<span class=\"_ _1\"></span>epayment of bank and other <span class=\"_ _1\"></span>borrowings of \u00a3<span class=\"ls1fd\">132<span class=\"ls1f5\">m, proceed<span class=\"_ _1\"></span>s from new bor<span class=\"_ _1\"></span>rowings of \u00a3<span class=\"ls1fe\">297</span>m,<span class=\"_ _1\"></span> </span></span></span></span>drawdowns on bank and other borrowings of<span class=\"_ _1\"></span> \u00a3<span class=\"ls1fd\">138<span class=\"ls1\">m (<span class=\"ls28f\">which includes \u00a3</span>9<span class=\"ls1f5\">m of <span class=\"_ _1\"></span>issue costs<span class=\"ls1\">)<span class=\"ls1f7\">, net drawdown of revolving cred<span class=\"_ _0\"></span>it <span class=\"ls1f8\">facilities of </span></span></span></span></span></span>\u00a3<span class=\"ls1fd\">198<span class=\"ls1f5\">m and capital<span class=\"_ _1\"></span> payments in <span class=\"_ _1\"></span>respect of i<span class=\"_ _1\"></span>nterest rat<span class=\"_ _1\"></span>e derivative<span class=\"_ _1\"></span>s of \u00a3<span class=\"ls1\">8</span>m as shown<span class=\"_ _1\"></span> in the cons<span class=\"_ _1\"></span>olidated st<span class=\"_ _1\"></span>atement of cas<span class=\"_ _1\"></span>h flows, al<span class=\"_ _1\"></span>ong </span></span>with \u00a3<span class=\"ls203\">37<span class=\"ls1f5\">m of n<span class=\"_ _1\"></span>et receipts <span class=\"_ _1\"></span>on derivati<span class=\"_ _1\"></span>ve interest.<span class=\"_ _1\"></span><span class=\"ls1\"> </span></span></span>Fair value hierarc<span class=\"_ _0\"></span>hy<span class=\"ls1\"> </span>The table below pr<span class=\"_ _1\"></span>ovides an analysis of <span class=\"_ _1\"></span>financial instruments<span class=\"_ _1\"></span> carried at fai<span class=\"_ _1\"></span>r value, by the va<span class=\"_ _1\"></span>luation method. The fai<span class=\"_ _1\"></span>r value hierarchy levels <span class=\"_ _1\"></span>are defined in Note 10.<span class=\"ls1\"> </span><table class=\"s w1a5 h184\" id=\"_43ae2ca4-0d75-48a2-847a-1307ec2f5359\"><tr><td></td><td></td><td class=\"c x34a y379c w5d hf8\"><div class=\"t m0 x21 hf9 y2947 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td class=\"c x21f y379c w5d hf8\"><div class=\"t m0 x21 hf9 y2947 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x34b y379d w1a6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 1<span class=\"_ _216\"> </span></div></td><td class=\"c x34c y379d w1a7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 2<span class=\"_ _216\"> </span></div></td><td class=\"c x1ec y379d w105 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x34d y379d w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x34e y379d w1a8 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 1<span class=\"_ _216\"> </span></div></td><td class=\"c x34f y379d w1a9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 2<span class=\"_ _216\"> </span></div></td><td class=\"c x350 y379d w116 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x20a y379d wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x351 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x352 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x353 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x354 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x217 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x355 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x219 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e3 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y379f w1aa h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> <span class=\"ls1e6\">currency<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y37a0 w1ab h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">derivative<span class=\"ls1\"> <span class=\"ls1e6\">assets<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x34a y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a1 w28 h102\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a1 w28 h102\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a1 w28 h102\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a1 w28 h102\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a2 w5c h102\"><div class=\"t m0 x0 hfb y2c27 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments <span class=\"ls1\">\u2013 <span class=\"ls1e7\">fair value through </span></span></div><div class=\"t m0 x0 hfb y2c28 ff3f fsba fc4 sc0 ls1eb ws1\">profit or loss<span class=\"_ _1\"></span> (Note 12)<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a2 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a2 w28 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fa y37a2 w29 h102\"><div class=\"t m0 x1a7 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a2 w28 h102\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a2 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a2 w28 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x221 y37a2 w29 h102\"><div class=\"t m0 x1b0 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a2 w28 h102\"><div class=\"t m0 x1a6 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a3 w5c hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1e1 ws1\">Assets<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a3 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a3 w28 hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a3 w29 hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a3 w28 hfe\"><div class=\"t m0 x199 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">100)</span> </div></td><td class=\"c x21f y37a3 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a3 w28 hfe\"><div class=\"t m0 x178 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a3 w29 hfe\"><div class=\"t m0 x1b0 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a3 w28 hfe\"><div class=\"t m0 x198 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(123)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y37a4 w1ac h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y37a5 w1ad h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">derivative<span class=\"ls1\"> <span class=\"ls1e5\">liabilities<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x34a y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a6 w28 h102\"><div class=\"t m0 x1c1 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a6 w28 h102\"><div class=\"t m0 x1c1 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a6 w28 h102\"><div class=\"t m0 x196 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a6 w28 h102\"><div class=\"t m0 x196 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a7 w5c hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1dd ws1\">Liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a7 w28 hfe\"><div class=\"t m0 x1c1 hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a7 w28 hfe\"><div class=\"t m0 x1c1 hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a7 w28 hfe\"><div class=\"t m0 x196 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a7 w28 hfe\"><div class=\"t m0 x196 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a8 w5c hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a8 w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(23)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a8 w29 hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(55)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a8 w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a8 w29 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(65)<span class=\"ls1\"> </span></div></td></tr></table>Categories of<span class=\"_ _0\"></span> financial i<span class=\"_ _0\"></span>nstruments<span class=\"ls1\"> </span><table class=\"s w1b8 h186\" id=\"_611554c1-2bed-4299-83ed-2b808b6cde38\"><tr><td></td><td class=\"c x32d y37b0 w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37b0 w95 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37b1 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37b1 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37b2 w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls214 ws1\">Financial assets<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y34dc w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff42 fsba fc4 sc0 ls1e1 ws1\">Amortised cost<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y37b3 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d9 ws1\">Cash and cash equi<span class=\"_ _1\"></span>valents<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37b3 w24 hfd\"><div class=\"t m0 x1a3 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">176<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37b3 w24 hfd\"><div class=\"t m0 x1ad hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">57<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y34de w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1e0 ws1\">Trade and other debtors (<span class=\"_ _1\"></span>Note 13)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y34de w24 hfe\"><div class=\"t m0 x1a4 hfb y28d5 ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y34de w24 hfe\"><div class=\"t m0 x1a2 hfb y28d5 ff3f fsba fc4 sc0 ls208 ws1\">28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37b4 w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff42 fsba fc4 sc0 ls214 ws1\">Fair value through prof<span class=\"_ _1\"></span>it or loss<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y34e0 w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls20a ws1\">Derivatives <span class=\"_ _1\"></span>in designated <span class=\"_ _1\"></span>fair value h<span class=\"_ _1\"></span>edge accounting r<span class=\"_ _1\"></span>elationships<span class=\"_ _216\"> </span></div><div class=\"t m0 xb8 hff y2f22 ff44 fsbc fc4 sc0 ls29e ws1\">1,2</div><div class=\"t m0 xa9 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y34e0 w24 hfe\"><div class=\"t m0 x1bc hfb y28fc ff42 fsba fc11 sc0 ls1df ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y34e0 w24 hfe\"><div class=\"t m0 x1a4 hfb y28fc ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37b5 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls20a ws1\">Derivatives <span class=\"_ _1\"></span>not in design<span class=\"_ _1\"></span>ated hedge account<span class=\"_ _1\"></span>ing relationsh<span class=\"_ _1\"></span>ips<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37b5 w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">57<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37b5 w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff3f fsba fc4 sc0 ls1e0 ws1\">68<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y34e2 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments (Not<span class=\"_ _1\"></span>e 12)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y34e2 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y34e2 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f3 ff3f fsba fc4 sc0 ls1d8 ws1\">41<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y37b6 w24 hfe\"><div class=\"t m0 x19a hfb y28f5 ff42 fsba fc11 sc0 ls1d7 ws1\">297<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37b6 w24 hfe\"><div class=\"t m0 x19a hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">208<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37b7 w25 hfd\"><div class=\"t m0 x0 hfb y28f7 ff42 fsba fc4 sc0 ls214 ws1\">Financial liabi<span class=\"_ _1\"></span>lities<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y37b8 w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls1e1 ws1\">Amortised cost<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y37b9 w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d9 ws1\">Creditors (Note <span class=\"_ _1\"></span>14) <span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37b9 w24 hfd\"><div class=\"t m0 x19b hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(19<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y37b9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(182)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ba w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls20a ws1\">Gross debt<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ba w24 hfe\"><div class=\"t m0 x199 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(2,996)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ba w24 hfe\"><div class=\"t m0 x194 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(2,728)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37bb w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">Lease liabilities <span class=\"_ _1\"></span>(Notes 14 and 15) <span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37bb w24 hfd\"><div class=\"t m0 x196 hfb y292b ff42 fsba fc11 sc0 ls1da ws1\">(10<span class=\"ls1\">9</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y37bb w24 hfd\"><div class=\"t m0 x19a hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">(1<span class=\"ls1dc\">14</span><span class=\"ls1dc\">)</span> </div></td></tr><tr><td class=\"c x1f9 y37bc w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff42 fsba fc4 sc0 ls214 ws1\">Fair value through prof<span class=\"_ _1\"></span>it or loss<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y37bd w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls20a ws1\">Derivatives <span class=\"_ _1\"></span>in designated <span class=\"_ _1\"></span>fair value h<span class=\"_ _1\"></span>edge <span class=\"ls1e6\">accounting relationships<span class=\"_ _216\"> </span></span></div><div class=\"t m0 xb8 hff y2f29 ff44 fsbc fc4 sc0 ls29e ws1\">1,2</div><div class=\"t m0 xa9 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y37bd w24 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff42 fsba fc11 sc0 ls1da ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37bd w24 hfd\"><div class=\"t m0 x1a4 hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(6)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37be w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls20a ws1\">Derivatives <span class=\"_ _1\"></span>not in design<span class=\"_ _1\"></span>ated hedge account<span class=\"_ _1\"></span>ing relationsh<span class=\"_ _1\"></span>ips<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37be w24 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37be w24 hfe\"><div class=\"t m0 x1a3 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(52)<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y37bf w24 hfe\"><div class=\"t m0 x199 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(3,34<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y37bf w24 hfe\"><div class=\"t m0 x1ae hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(3,082)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37c0 w25 hfd\"><div class=\"t m0 x0 hfb y297c ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c0 w24 hfd\"><div class=\"t m0 x1a1 hfb y297c ff42 fsba fc11 sc0 ls1da ws1\">(3,05<span class=\"ls1\">0</span><span class=\"ls1\">) </span></div></td><td class=\"c x1fd y37c0 w24 hfd\"><div class=\"t m0 x194 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(2,874)<span class=\"ls1\"> </span></div></td></tr></table>1. <span class=\"_ _24\"> </span><span class=\"ls1ff\">Derivative assets <span class=\"_ _1\"></span>and liabilities<span class=\"_ _1\"></span> in designated hedge <span class=\"_ _1\"></span>accounting relations<span class=\"_ _1\"></span>hips sit within t<span class=\"_ _1\"></span>he <span class=\"ls1f2\">derivative assets and deri<span class=\"_ _1\"></span>vative liabilities </span></span>balances of the consolidate<span class=\"_ _1\"></span>d balance sheet.<span class=\"ls1\"> </span>2. <span class=\"ls1fb\">The fair value of deriv<span class=\"_ _1\"></span>ative assets in designated hedge accounti<span class=\"_ _1\"></span>ng relationships represents the accumulat<span class=\"_ _1\"></span>ed amount of fair va<span class=\"ls1f9\">lue </span></span>hedge adjustments on hedged items.<span class=\"ls1\"> </span>Gains and <span class=\"_ _1\"></span>losses on f<span class=\"_ _1\"></span>inancial i<span class=\"_ _1\"></span>nstruments, <span class=\"_ _1\"></span>as classed a<span class=\"_ _1\"></span>bove, are di<span class=\"_ _1\"></span>sclosed in <span class=\"_ _1\"></span>Note 6, Note <span class=\"_ _1\"></span>13, the <span class=\"_ _1\"></span>consolidated <span class=\"_ _1\"></span>income statement and the consolidated statement of comprehensive income. The Directors consider that the carrying amoun<span class=\"_ _0\"></span>ts of other invest<span class=\"_ _1\"></span>ments a<span class=\"ls222\">re approximate to th<span class=\"_ _0\"></span>eir fair value, and that the carrying am<span class=\"_ _0\"></span>ounts are recoverable.<span class=\"ls1\"> </span></span>Capital ri<span class=\"_ _0\"></span>sk management<span class=\"ls1\"> </span>The capital st<span class=\"_ _1\"></span>ructure of the Group consi<span class=\"_ _1\"></span>sts of net debt and <span class=\"_ _1\"></span>equity attributabl<span class=\"_ _1\"></span>e to the equity hol<span class=\"_ _1\"></span>ders of The British <span class=\"_ _1\"></span>Land Company PLC, compri<span class=\"_ _1\"></span>sing iss<span class=\"ls221\">ued capi<span class=\"_ _1\"></span>tal, reserves and retai<span class=\"_ _1\"></span>ned earnings. Risks relati<span class=\"_ _1\"></span>ng to capital structur<span class=\"_ _1\"></span>e are </span>addressed within Managing risk i<span class=\"_ _1\"></span>n delivering our strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58<span class=\"ls235\">. The Group\u2019s objec<span class=\"_ _0\"></span>tives, policies<span class=\"_ _0\"></span> and </span></span></span></span>processes for managi<span class=\"_ _1\"></span>ng debt are set out <span class=\"_ _1\"></span>in the Financial<span class=\"_ _1\"></span> policies and pri<span class=\"_ _1\"></span>nciples on pages <span class=\"ls24a\">44<span class=\"ls1\"> <span class=\"ls222\">to </span></span>46<span class=\"ls235\">. </span></span><span class=\"ls24a\"><span class=\"ls235\"><span class=\"ls1\"> </span></span></span>Interest rate risk m<span class=\"_ _1\"></span>anagement<span class=\"ls1\"> </span>The Group uses inter<span class=\"_ _1\"></span>est rate swaps and caps <span class=\"_ _1\"></span>to hedge exposure to the <span class=\"_ _1\"></span>variability i<span class=\"_ _1\"></span>n cash flows on floa<span class=\"_ _1\"></span>ting rate debt, such as revolving <span class=\"ls226\">credit <span class=\"ls231\">facilities, caused by move<span class=\"_ _0\"></span>ments in mark<span class=\"ls223\">et rates of interest. The Group\u2019s <span class=\"_ _1\"></span>objectives and </span></span></span>processes for managi<span class=\"_ _1\"></span>ng interest rate <span class=\"_ _1\"></span>risk are set out<span class=\"_ _1\"></span> in the Financial<span class=\"_ _1\"></span> policies and pr<span class=\"_ _1\"></span>inciples on pages <span class=\"ls24a\">44 <span class=\"_ _1\"></span><span class=\"ls222\">to <span class=\"ls24a\">46.<span class=\"ls1\"> </span></span></span></span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of these <span class=\"_ _0\"></span>derivatives is<span class=\"_ _0\"></span> a net <span class=\"ls225\">asset</span></span> of <span class=\"ls220\">\u00a356m<span class=\"_ _0\"></span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls220\">63<span class=\"ls233\">m).</span></span></span> <span class=\"ls22e\">Intere<span class=\"_ _0\"></span>st rate swaps w<span class=\"_ _0\"></span>ith </span></span>a <span class=\"ls231\">fair value of <span class=\"ls220\">\u00a3nil <span class=\"ls243\">(202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a3nil) <span class=\"ls221\">have been designated as cash flow hedges under<span class=\"_ _1\"></span> IFRS 9.<span class=\"ls1\"> </span></span></span>The ineffectivene<span class=\"_ _1\"></span>ss recognised in the <span class=\"_ _1\"></span><span class=\"ls226\">consolidated <span class=\"ls1fc\">income st<span class=\"_ _0\"></span>atement on<span class=\"_ _0\"></span> cash flow he<span class=\"_ _0\"></span>dges in the y<span class=\"_ _0\"></span>ear ended <span class=\"_ _0\"></span>31 March </span></span>202<span class=\"ls1\">6 <span class=\"ls236\">was <span class=\"ls220\">\u00a3nil</span></span> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5: <span class=\"ls220\">\u00a3nil).<span class=\"_ _216\"> </span></span></span>The cash flows occur<span class=\"_ _1\"></span> and are charged to prof<span class=\"_ _1\"></span>it and loss until<span class=\"_ _1\"></span> the maturity of t<span class=\"_ _1\"></span>he hedged debt. The tabl<span class=\"_ _1\"></span>e below summarises variable rate debt hedged at 31 March.<span class=\"ls1\"> </span>Variable rat<span class=\"_ _0\"></span>e debt hedged <span class=\"ls1\"> </span><table class=\"s w1b9 h187\" id=\"_e72ed649-3703-4eb5-8d79-b2927ac7e025\"><tr><td></td><td class=\"c x35e y37c1 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x35f y37c1 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x360 y37c2 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x361 y37c2 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y37c3 w1ba h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls204 ws1\">Outstanding<span class=\"_ _1\"></span>:<span class=\"_ _216\"> </span></div><div class=\"t m0 x362 hfb y3476 ff3f fsba fc4 sc0 ls1e6 ws1\">at one year<span class=\"_ _216\"> </span></div></td><td class=\"c x32c y364f w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">1,570<span class=\"ls1\"> </span></div></td><td class=\"c x363 y364f w58 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls208 ws1\">2,020<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x364 y3650 w5e hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\"> <span class=\"ls1e6\">at two years</span> </div></td><td class=\"c x32c y3650 w24 hfd\"><div class=\"t m0 x178 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">1,450<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3650 w58 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">1,670<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x364 y3651 w5e hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\"> <span class=\"ls1e6\">at five years</span> </div></td><td class=\"c x32c y3651 w24 hfe\"><div class=\"t m0 x19a hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">850<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3651 w58 hfe\"><div class=\"t m0 x19a hfb y28d7 ff3f fsba fc4 sc0 ls1e0 ws1\">950<span class=\"ls1\"> </span></div></td></tr></table>Fair value hedged debt<span class=\"ls1\"> </span>The Group uses inter<span class=\"_ _1\"></span>est rate swaps to hedge <span class=\"_ _1\"></span>exposure on fixed rat<span class=\"_ _1\"></span>e financial li<span class=\"_ _1\"></span>abilities caused <span class=\"_ _1\"></span>by movements in market rates of <span class=\"ls1fc\">interest.<span class=\"ls1\"> </span></span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of these <span class=\"_ _0\"></span>derivatives is<span class=\"_ _0\"></span> a net <span class=\"ls1fc\">liability</span></span> <span class=\"ls220\">of</span> <span class=\"ls220\">\u00a333m<span class=\"_ _0\"></span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls221\">net <span class=\"ls1fc\">liabilit<span class=\"_ _0\"></span>y</span></span></span> <span class=\"ls220\">of</span> \u00a339<span class=\"ls233\">m). Intere<span class=\"_ _1\"></span>st </span></span>rate<span class=\"ls1\"> <span class=\"ls224\">swaps with a fair value <span class=\"ls225\">asset</span></span> <span class=\"ls220\">of </span>\u00a37m <span class=\"ls221\">have been designated as fair value hedges under IFRS <span class=\"_ _1\"></span>9 (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls225\">asset</span></span> </span></span></span>of<span class=\"ls1\"> \u00a38<span class=\"ls233\">m).</span> </span>The cross<span class=\"ls1\">-<span class=\"ls226\">currency swaps of the 2025/2026 US Private Pl<span class=\"_ _1\"></span>acements fully hedge the foreign exchange exposure at an </span></span>average floating rate <span class=\"ls220\">of<span class=\"ls1\"> <span class=\"ls22f\">174</span> <span class=\"ls234\">basis poi<span class=\"_ _1\"></span>nts above SONIA. These ha<span class=\"_ _1\"></span><span class=\"ls223\">ve been designated as fair value <span class=\"_ _1\"></span>hedges of the US </span></span></span></span>Private Placements<span class=\"_ _1\"></span>.<span class=\"ls1\"> </span>Interest rate profile<span class=\"_ _1\"></span> <span class=\"ls1\">\u2013 <span class=\"ls240\">including effect o<span class=\"_ _1\"></span>f derivatives<span class=\"ls1\"> </span></span></span><table class=\"s w18e h188\" id=\"_d68be6d8-ca81-4c37-b0a7-b53200ea9528\"><tr><td></td><td class=\"c x32d y37c4 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37c4 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37c5 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37c5 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37c6 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls214 ws1\">Fixed or capped rate<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c6 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c6 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y37c7 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c7 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr></table>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6 <span class=\"ls222\">the weighted ave<span class=\"_ _0\"></span>rage interest rate of the Sterling fixed rate d<span class=\"_ _0\"></span>ebt is </span>4.4<span class=\"ls276\">% (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 4.</span>3<span class=\"ls276\">%). </span></span>The<span class=\"ls1\"> <span class=\"ls236\">weighted a<span class=\"_ _1\"></span>verage peri<span class=\"_ _1\"></span>od for whi<span class=\"_ _1\"></span>ch the r<span class=\"_ _1\"></span>ate is f<span class=\"_ _1\"></span>ixed is <span class=\"_ _1\"></span><span class=\"ls221\">5.5<span class=\"ls1\"> <span class=\"ls223\">years (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span></span>5.5<span class=\"ls1\"> <span class=\"ls223\">years). </span> </span></span></span></span>Sensitivity table <span class=\"ls1\">\u2013 <span class=\"ls22a\">mark<span class=\"_ _0\"></span>et rate <span class=\"_ _0\"></span>movements</span> </span><table class=\"s w1bb h189\" id=\"_44474e93-d210-4e9c-818a-3ec7adb535d1\"><tr><td></td><td class=\"c x1fb y37c8 w3e hf8\"><div class=\"t m0 x1aa hf9 y2933 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y37c8 w3e hf8\"><div class=\"t m0 x1 hf9 y2933 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x1fb y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3e fsb9 fc11 sc0 ls284 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3d fsb9 fc4 sc0 ls287 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ca w5f hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>interest <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 x18b hff y2db7 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x9f hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37ca w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37ca w24 hfe\"><div class=\"t m0 x1c1 hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(100)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ca w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ca w24 hfe\"><div class=\"t m0 x196 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(100)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37cb w5f hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on und<span class=\"_ _0\"></span>erlying annual pro<span class=\"_ _0\"></span>fit (\u00a3m)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x365 y37cb w24 hfd\"><div class=\"t m0 x16e hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y37cc w5f hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>medium and lo<span class=\"_ _1\"></span>ng term swap <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 xb3 hff y2f4b ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x2 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37cc w24 hfd\"><div class=\"t m0 x1a3 hfb y2c1d ff42 fsba fc11 sc0 ls1e9 ws1\">421<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cc w24 hfd\"><div class=\"t m0 x19b hfb y2c1d ff42 fsba fc11 sc0 ls1da ws1\">(421)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cc w24 hfd\"><div class=\"t m0 x19d hfb y2c1d ff3f fsba fc4 sc0 ls1d8 ws1\">424<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cc w24 hfd\"><div class=\"t m0 x1c1 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(424)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y374b w1bc h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on cas<span class=\"_ _0\"></span>h flow hedge an<span class=\"_ _0\"></span>d <span class=\"ls1dd\">non<span class=\"ls1\">-</span>hedge accounted derivative<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w1bd h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls272 ws1\">valuations<span class=\"ls1\"> <span class=\"ls1db\">(\u00a3m)<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x1fb y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">154<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cd w24 h102\"><div class=\"t m0 x19b hfb y28e8 ff42 fsba fc11 sc0 ls1da ws1\">(137)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">164<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cd w24 h102\"><div class=\"t m0 x19d hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(185)<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The movement used for sensitivity <span class=\"_ _1\"></span>analysis <span class=\"ls1f9\">is <span class=\"ls1f4\">a 1% change in interest rates. <span class=\"ls1\"> </span></span></span></span></span>2.<span class=\"ls1\"> <span class=\"ls1fb\">This movement used for sensi<span class=\"_ _1\"></span>tivity analysis represents the <span class=\"_ _1\"></span>largest annual change in the <span class=\"ls202\">seven<span class=\"ls1\">-<span class=\"ls1fe\">year Sterli<span class=\"_ _1\"></span>ng swap rate over the last </span></span></span></span></span>10<span class=\"ls1\"> <span class=\"ls1fa\">years.<span class=\"_ _216\"> </span></span></span>Foreign currency risk <span class=\"_ _0\"></span>management<span class=\"_ _216\"> </span>The Group\u2019s policy <span class=\"_ _1\"></span>is to have no materi<span class=\"_ _1\"></span>al unhedged net assets <span class=\"_ _1\"></span>or liabiliti<span class=\"_ _1\"></span>es denominated in forei<span class=\"_ _1\"></span>gn currencies. The<span class=\"_ _216\"> </span>currency risk on overseas in<span class=\"ls223\">vestments <span class=\"_ _1\"></span>may be hedged via foreign currency denominated borrowings <span class=\"_ _1\"></span>and derivatives.<span class=\"_ _216\"> </span></span>The Group has adopted net<span class=\"_ _1\"></span> investment hedging in a<span class=\"_ _1\"></span>ccordance with IFRS 9 and t<span class=\"_ _1\"></span>herefore the portion <span class=\"_ _1\"></span>of the gain or los<span class=\"_ _1\"></span>s<span class=\"_ _216\"> </span>on any hedging inst<span class=\"_ _1\"></span>rument that is determined <span class=\"_ _1\"></span>to be an <span class=\"ls223\">effective hedge i<span class=\"_ _1\"></span>s recognised directly in equi<span class=\"_ _1\"></span>ty. The ineffective<span class=\"_ _216\"> </span></span>portion of the <span class=\"_ _1\"></span>gain or loss on a<span class=\"_ _1\"></span>ny hedging instrument i<span class=\"_ _1\"></span>s recognised immediatel<span class=\"_ _1\"></span>y in the income st<span class=\"_ _1\"></span>atement.<span class=\"_ _216\"> </span>The table below shows <span class=\"_ _1\"></span>the carrying amounts of <span class=\"_ _1\"></span>the Group\u2019s foreign cur<span class=\"_ _1\"></span>rency denominate<span class=\"ls234\">d assets and <span class=\"_ _1\"></span>liabilities.<span class=\"_ _216\"> </span></span>Provided contingent<span class=\"_ _1\"></span> tax on overseas inv<span class=\"_ _1\"></span>estments is not expect<span class=\"_ _1\"></span>ed to occur it wil<span class=\"_ _1\"></span>l be ignored for <span class=\"_ _1\"></span>hedging purposes.<span class=\"_ _216\"> </span>Based on the <span class=\"_ _1\"></span>31<span class=\"ls1\"> <span class=\"ls230\">March 202</span>6 <span class=\"ls234\">position</span>, <span class=\"ls225\">a 28% appreciati<span class=\"_ _1\"></span>on (largest annual change over the last<span class=\"_ _1\"></span> 10 years) in the USD<span class=\"_ _216\"> </span></span></span>re<span class=\"ls1fc\">lative to St<span class=\"_ _0\"></span>erling would<span class=\"_ _0\"></span> result in a <span class=\"ls220\">\u00a3nil<span class=\"ls1\"> <span class=\"ls226\">change (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"_ _0\"></span>\u00a3</span>1m<span class=\"ls243\">) in reported profits.</span></span></span></span><table class=\"s w1be h18a\" id=\"_bb31086f-2714-485e-a904-74f3766b31d0\"><tr><td></td><td class=\"c x349 y37ce w3e hfe\"><div class=\"t m0 x1a4 hf9 y2914 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Assets<span class=\"_ _216\"> </span></div><div class=\"t m0 x24 hfc y2ed6 ff41 fsbb fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 xe7 hf9 y2914 ff3d fsb9 fc4 sc0 ls1 ws1\"> </div></td><td></td><td class=\"c x366 y37ce w3e hfe\"><div class=\"t m0 x19e hf9 y2914 ff3d fsb9 fc4 sc0 ls235 ws1\">Liabilities<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x367 y37cf w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x368 y37cf w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x369 y37cf w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x36a y37cf w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x347 y37d0 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37d0 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x36b y37d0 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x36c y37d0 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3543 w61 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">USD denominated<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">35 </div></td><td class=\"c x366 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td><td class=\"c x36d y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">33 </div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The USD denominated asset of \u00a3<span class=\"ls203\">32<span class=\"ls1f5\">m <span class=\"ls1fc\">(202</span></span></span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a33</span>5<span class=\"ls1f5\">m) <span class=\"ls1f9\">is an other</span></span> <span class=\"ls1f9\">investmen<span class=\"_ _0\"></span>t accounted for as fair v<span class=\"_ _0\"></span>alue through profit of lo<span class=\"_ _0\"></span>ss<span class=\"_ _216\"> </span></span></span>as<span class=\"ls1\"> <span class=\"ls1f2\">disclosed in Note 12. The <span class=\"_ _1\"></span>remaining \u00a3<span class=\"ls200\">nil<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>6<span class=\"ls1f5\">m) <span class=\"ls1fb\">other investment accounted for as fai<span class=\"_ _1\"></span>r value through profit or loss<span class=\"_ _216\"> </span></span></span></span></span></span></span>is<span class=\"ls1\"> a <span class=\"ls1f0\">Sterling</span> <span class=\"ls1f2\">denominated other investment.<span class=\"_ _216\"> </span></span></span>Credit ris<span class=\"_ _0\"></span>k management<span class=\"_ _216\"> </span>The Group\u2019s approach t<span class=\"_ _1\"></span>o credit risk management of<span class=\"_ _1\"></span> counterparties is<span class=\"_ _1\"></span> referred to in Fi<span class=\"_ _1\"></span>nancial policies<span class=\"_ _1\"></span> and principles on<span class=\"_ _216\"> </span>pages <span class=\"ls24a\">44 <span class=\"ls222\">to </span>46<span class=\"ls1\"> <span class=\"ls225\">and the risks addressed <span class=\"_ _1\"></span>within Managing risk in deliveri<span class=\"_ _1\"></span>ng our strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58. <span class=\"ls220\">The ca<span class=\"_ _1\"></span>rrying<span class=\"_ _216\"> </span></span></span></span></span></span></span></span>amount of financ<span class=\"ls1fc\">ial assets record<span class=\"_ _0\"></span>ed in the fina<span class=\"_ _0\"></span>ncial statem<span class=\"_ _0\"></span>ents represe<span class=\"_ _0\"></span>nts the Grou<span class=\"_ _0\"></span>p\u2019s maximu<span class=\"_ _0\"></span>m exposu<span class=\"_ _0\"></span>re to credit ris<span class=\"_ _0\"></span>k<span class=\"_ _216\"> </span></span>without <span class=\"_ _1\"></span>taking acc<span class=\"_ _1\"></span>ount of t<span class=\"_ _1\"></span>he value <span class=\"_ _1\"></span>of any col<span class=\"_ _1\"></span>lateral <span class=\"_ _1\"></span>obtained.<span class=\"_ _216\"> </span>Banks and fi<span class=\"_ _1\"></span>nancial insti<span class=\"_ _1\"></span>tutions<span class=\"_ _216\"> </span>Cash and cash<span class=\"_ _1\"></span> equivalents <span class=\"_ _1\"></span>at 31 March 2<span class=\"_ _1\"></span>02<span class=\"ls1\">6 <span class=\"ls225\">amounted to \u00a3<span class=\"ls22f\">176<span class=\"ls233\">m (202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">57<span class=\"ls233\">m). Cash an<span class=\"_ _1\"></span>d cash e<span class=\"_ _1\"></span>quivalen<span class=\"_ _1\"></span>ts were<span class=\"_ _216\"> </span></span></span></span></span>placed with fi<span class=\"_ _1\"></span>nancial instit<span class=\"_ _1\"></span>utions with BBB+ or bet<span class=\"_ _1\"></span>ter credit rati<span class=\"_ _1\"></span>ngs.<span class=\"_ _216\"> </span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of all intere<span class=\"_ _0\"></span>st rate deriv<span class=\"_ _0\"></span>ative assets<span class=\"_ _0\"></span> was \u00a3<span class=\"ls220\">68<span class=\"ls233\">m (202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls93\">82<span class=\"ls233\">m).<span class=\"_ _216\"> </span></span></span></span></span>At<span class=\"ls1\"> <span class=\"ls221\">31 March 202</span>6<span class=\"ls235\">, prior to tak<span class=\"_ _0\"></span>ing into acco<span class=\"_ _0\"></span>unt any off<span class=\"_ _0\"></span>set arrange<span class=\"_ _0\"></span>ments, the la<span class=\"_ _0\"></span>rgest com<span class=\"_ _0\"></span>bined credit<span class=\"_ _0\"></span> exposure t<span class=\"_ _0\"></span>o a single<span class=\"_ _216\"> </span></span></span>counterparty arising from money market deposits, <span class=\"_ _1\"></span>liquid investments and derivatives was \u00a3<span class=\"ls220\">68<span class=\"ls233\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls24a\">42</span></span></span>m). This<span class=\"_ _216\"> </span></span></span>represents <span class=\"ls1\">0.7<span class=\"_ _0\"></span><span class=\"ls276\">% <span class=\"ls243\">(202</span></span>4/25<span class=\"ls26a\">: 0<span class=\"_ _0\"></span>.</span>5<span class=\"ls276\">%) of gro<span class=\"_ _1\"></span>ss assets.<span class=\"_ _216\"> </span></span></span>The deposit exposures<span class=\"_ _1\"></span> are with UK banks and UK <span class=\"_ _1\"></span>branches of internati<span class=\"_ _1\"></span>onal banks.<span class=\"_ _216\"> </span>Trade debtors<span class=\"_ _216\"> </span>Trade debtors are <span class=\"_ _1\"></span>presented net of provi<span class=\"_ _1\"></span>sions for impairment f<span class=\"_ _1\"></span>or expected credit l<span class=\"_ _1\"></span>osses. Expected credit<span class=\"_ _1\"></span> losses are<span class=\"_ _216\"> </span>calculated on initi<span class=\"ls225\">al <span class=\"_ _1\"></span>recognition of trade debtors and subsequently <span class=\"_ _1\"></span>in accordance with IFRS 9, taking into <span class=\"_ _1\"></span>account<span class=\"_ _216\"> </span></span>historic and forward<span class=\"ls1\">-<span class=\"ls1fc\">looking informatio<span class=\"_ _0\"></span>n. </span></span>Tenant incentives<span class=\"_ _216\"> </span>Tenant incentives <span class=\"_ _1\"></span>and the associated tena<span class=\"_ _1\"></span>nt incentive provisi<span class=\"_ _1\"></span>ons for impairment for<span class=\"_ _1\"></span> expected credit<span class=\"ls1\"> <span class=\"ls1fc\">losses are bot<span class=\"_ _0\"></span>h<span class=\"_ _216\"> </span></span></span>recognised within investm<span class=\"_ _0\"></span>ent property.<span class=\"ls1\"> <span class=\"ls24a\">Expected credit losses a<span class=\"_ _1\"></span>re calculated on i<span class=\"_ _1\"></span>nitial recogni<span class=\"_ _1\"></span>tion of tenant i<span class=\"_ _1\"></span>ncentives<span class=\"_ _216\"> </span></span></span>and subsequently in accordance with I<span class=\"_ _1\"></span>FRS 9, taking into account historic <span class=\"_ _1\"></span>and forward<span class=\"ls1\">-<span class=\"ls1fc\">looking<span class=\"_ _0\"></span> information<span class=\"_ _0\"></span>.<span class=\"_ _216\"> </span></span></span>Liquidity risk management<span class=\"ls1\"> </span>The Group\u2019s approach t<span class=\"_ _1\"></span>o liquidity ri<span class=\"_ _1\"></span>sk management is discussed i<span class=\"_ _1\"></span>n Financial polic<span class=\"_ _1\"></span>ies and principles<span class=\"_ _1\"></span> on pages <span class=\"ls24a\">44 <span class=\"ls222\">to </span>46<span class=\"ls235\">, </span></span>and the risks addressed within <span class=\"_ _1\"></span>Managing risk in delivering our <span class=\"_ _1\"></span>strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58<span class=\"ls1\">. </span></span></span></span>The fol<span class=\"ls1fc\">lowing table pr<span class=\"_ _0\"></span>esents a ma<span class=\"_ _0\"></span>turity profile o<span class=\"_ _0\"></span>f the contrac<span class=\"_ _0\"></span>ted undisco<span class=\"_ _0\"></span>unted cash<span class=\"_ _0\"></span> flows of finan<span class=\"_ _0\"></span>cial liabilities ba<span class=\"_ _0\"></span>sed on </span>the earliest date on which th<span class=\"_ _0\"></span>e Group can be required to<span class=\"_ _0\"></span> pay. The table includes both inte<span class=\"_ _0\"></span>rest and principal flows. Where the interest payab<span class=\"ls1fc\">le is n<span class=\"_ _0\"></span>ot fixed, the a<span class=\"_ _0\"></span>mount disc<span class=\"_ _0\"></span>losed has be<span class=\"_ _0\"></span>en determ<span class=\"_ _0\"></span>ined by refer<span class=\"_ _0\"></span>ence to the p<span class=\"_ _0\"></span>rojected inte<span class=\"_ _0\"></span>rest rates </span>implied by<span class=\"_ _0\"></span> yield curves a<span class=\"_ _0\"></span>t the report<span class=\"_ _0\"></span>ing date. For<span class=\"_ _0\"></span> derivative fina<span class=\"_ _0\"></span>ncial instrum<span class=\"_ _0\"></span>ents that set<span class=\"_ _0\"></span>tle on a net ba<span class=\"_ _0\"></span>sis (e.g. intere<span class=\"_ _0\"></span>st<span class=\"ls1\"> </span>rate swaps) the undisco<span class=\"_ _0\"></span>unte<span class=\"ls234\">d net cash flows <span class=\"_ _1\"></span>are shown and for deri<span class=\"_ _1\"></span>vatives that requi<span class=\"_ _1\"></span>re gross settlement<span class=\"_ _1\"></span> (e.g. cross<span class=\"ls1\">-<span class=\"_ _216\"> </span></span></span>currency swaps) the undiscounted gross cash flows ar<span class=\"_ _1\"></span>e presented. Where payment obligations are in forei<span class=\"_ _1\"></span>gn currencies, the spot exchange ra<span class=\"_ _0\"></span>te ruling at the balance sheet date is use<span class=\"_ _0\"></span>d. Trade creditors which are rep<span class=\"_ _0\"></span>ayable within one year have been excluded from the anal<span class=\"_ _1\"></span>ysis.<span class=\"ls1\"> </span>The Group expects to <span class=\"_ _1\"></span>meet its financial<span class=\"_ _1\"></span> liabilities<span class=\"_ _1\"></span> through the various a<span class=\"_ _1\"></span>vailable liquidi<span class=\"_ _1\"></span>ty sources, incl<span class=\"_ _1\"></span>uding a secure renta<span class=\"ls1fc\">l </span>income p<span class=\"_ _0\"></span>rofile, asset s<span class=\"ls225\">ales, undrawn committed borrowing facilities and, in <span class=\"_ _1\"></span>the longer term, debt refinancings.<span class=\"ls1\"> </span></span>The future aggregate <span class=\"_ _1\"></span>minimum rentals receivabl<span class=\"_ _1\"></span>e under non<span class=\"ls1\">-<span class=\"ls226\">cancellable operating leases are <span class=\"_ _1\"></span>shown in the table on the </span></span>following page. Inc<span class=\"_ _0\"></span>ome from joint ventu<span class=\"_ _0\"></span>res is not <span class=\"ls1fc\">included. A<span class=\"_ _0\"></span>dditional liqu<span class=\"_ _0\"></span>idity will arise fr<span class=\"_ _0\"></span>om letting sp<span class=\"_ _0\"></span>ace in prop<span class=\"_ _0\"></span>erties </span>under construction as <span class=\"_ _1\"></span>well as from distributi<span class=\"_ _1\"></span>ons received from joint vent<span class=\"_ _1\"></span>ures.<span class=\"ls1\"> </span><table class=\"s w1c6 h18c\" id=\"_8b357a62-86fb-4076-905b-c366aab196b6\"><tr><td></td><td></td><td></td><td class=\"c x21d y37de w3c hf8\"><div class=\"t m0 x185 hf9 y28e1 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x372 y37df w1c7 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls2a0 ws1\">Within one<span class=\"_ _216\"> </span></div></td><td class=\"c x373 y37df w1c8 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Following<span class=\"_ _216\"> </span></div></td><td class=\"c x24c y37df w1c9 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Three to five<span class=\"_ _216\"> </span></div></td><td class=\"c x374 y37df w1ca h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls27e ws1\">Over five<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x375 y37e0 w1cb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x376 y37e0 w1cb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x377 y37e0 w1cc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x378 y37e0 w1cc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y37e0 w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x346 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e2 w3c hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls1\">d<span class=\"ls208\">ebt<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x16e hff y2f06 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x13a hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x21d y37e2 w24 hfd\"><div class=\"t m0 x19a hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">525<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e2 w24 hfd\"><div class=\"t m0 x19d hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">254<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e2 w24 hfd\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1df ws1\">1,536<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e2 w24 hfd\"><div class=\"t m0 x1a3 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">701<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e2 w24 hfd\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">3,016<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e3 w3c hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest on deb<span class=\"_ _0\"></span>t<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e3 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">137<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e3 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">120<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">267<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">109<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1eb ws1\">633<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e4 w3c hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e4 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">56<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e4 w24 hfd\"><div class=\"t m0 x1a4 hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e4 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e4 w24 hfd\"><div class=\"t m0 x1ad hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e4 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">106<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e5 w3c hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">Lease liability payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e5 w24 hfe\"><div class=\"t m0 x1aa hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x349 y37e5 w24 hfe\"><div class=\"t m0 x1ad hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e5 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">313<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e5 w24 hfe\"><div class=\"t m0 x19d hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">360<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e6 w3c hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">Total payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e6 w24 hfd\"><div class=\"t m0 x19a hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">727<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e6 w24 hfd\"><div class=\"t m0 x19a hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e6 w24 hfd\"><div class=\"t m0 x178 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">1,854<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e6 w24 hfd\"><div class=\"t m0 x1c1 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">1,137<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e6 w24 hfd\"><div class=\"t m0 x1a6 hfb y297c ff42 fsba fc11 sc0 ls1e9 ws1\">4,115<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e7 w3c hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>receipts<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(91)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(12)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(17)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e7 w24 hfe\"><div class=\"t m0 x1a4 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e7 w24 hfe\"><div class=\"t m0 x19b hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(122)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e8 w3c hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net <span class=\"ls1d8\">payment</span><span class=\"ls1d8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x21d y37e8 w24 hfe\"><div class=\"t m0 x19d hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">636<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e8 w24 hfe\"><div class=\"t m0 x19a hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">385<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e8 w24 hfe\"><div class=\"t m0 x1b0 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">1,837<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e8 w24 hfe\"><div class=\"t m0 x1a6 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">1,135<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e8 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">3,993<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e9 w3c hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>leases wit<span class=\"_ _1\"></span>h tenants<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">324<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">284<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e9 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">555<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1eb ws1\">604<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e9 w24 hfd\"><div class=\"t m0 x1b0 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">1,767<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ea w3c hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">Liquidity deficit<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ea w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(312)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37ea w24 hfe\"><div class=\"t m0 x19d hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(101)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37ea w24 hfe\"><div class=\"t m0 x198 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(1,282)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ea w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(531)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ea w24 hfe\"><div class=\"t m0 x1ae hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(2.226)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37eb w3c hfd\"><div class=\"t m0 x0 hfb y28dd ff42 fsba fc4 sc0 ls1d9 ws1\">Cumulative liqui<span class=\"_ _1\"></span>dity deficit<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37eb w24 hfd\"><div class=\"t m0 x19b hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(312)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37eb w24 hfd\"><div class=\"t m0 x196 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(413)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37eb w24 hfd\"><div class=\"t m0 x194 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(1,695)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37eb w24 hfd\"><div class=\"t m0 x1ae hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(2,226)<span class=\"ls1\"> </span></div></td><td></td></tr></table><table class=\"s w1bf h18b\" id=\"_4f410174-0369-4ca8-81d4-3b9c8eefacd2\"><tr><td></td><td></td><td></td><td class=\"c x21d y37d1 w3c hf8\"><div class=\"t m0 x185 hf9 y2935 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x36e y37d2 w1c0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls28e ws1\">Within one<span class=\"_ _216\"> </span></div></td><td class=\"c x35a y37d2 w1c1 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Following<span class=\"_ _216\"> </span></div></td><td class=\"c x36f y37d2 w1c2 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Three to <span class=\"ls288\">five<span class=\"_ _216\"> </span></span></div></td><td class=\"c x230 y37d2 w1c3 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls27e ws1\">Over five<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x2f5 y37d3 w1c4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x370 y37d3 w1c4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x371 y37d3 w1c5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x32d y37d3 w1c5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y37d3 wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x346 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d5 w3c hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls1\">d<span class=\"ls208\">ebt<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x16e hff y2ed7 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x13a hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x21d y37d5 w24 hfe\"><div class=\"t m0 x19a hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">337<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">105<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d5 w24 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">1,374<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d5 w24 hfe\"><div class=\"t m0 x19a hfb y28e6 ff3f fsba fc4 sc0 ls1e0 ws1\">937<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d5 w24 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls208 ws1\">2,753<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d6 w3c hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest on deb<span class=\"_ _0\"></span>t<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d6 w24 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">129<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d6 w24 hfd\"><div class=\"t m0 x192 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">110<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d6 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1ea ws1\">272<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d6 w24 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">195<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d6 w24 hfd\"><div class=\"t m0 x19d hfb y28e8 ff3f fsba fc4 sc0 ls208 ws1\">706<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d7 w3c hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d7 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d7 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">66<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d7 w24 hfe\"><div class=\"t m0 x8f hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d7 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d7 w24 hfe\"><div class=\"t m0 x19d hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">204<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d8 w3c hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">Lease liability payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d8 w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x349 y37d8 w24 hfd\"><div class=\"t m0 x1a4 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d8 w24 hfd\"><div class=\"t m0 x192 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d8 w24 hfd\"><div class=\"t m0 x19e hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">319<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d8 w24 hfd\"><div class=\"t m0 x19a hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">368<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d9 w3c hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">Total payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d9 w24 hfe\"><div class=\"t m0 x19a hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">568<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d9 w24 hfe\"><div class=\"t m0 x19e hfb y2912 ff3f fsba fc4 sc0 ls1ea ws1\">291<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,707<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,465<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1d8 ws1\">4,031<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37da w3c hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>receipts<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37da w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37da w24 hfd\"><div class=\"t m0 x192 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(81)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37da w24 hfd\"><div class=\"t m0 x192 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(18)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37da w24 hfd\"><div class=\"t m0 x1ad hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37da w24 hfd\"><div class=\"t m0 x1c1 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(220)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37db w3c hfe\"><div class=\"t m0 x0 hfb y2943 ff42 fsba fc4 sc0 ls1e1 ws1\">Net payment<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37db w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1d8 ws1\">451<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37db w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1ea ws1\">210<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37db w24 hfe\"><div class=\"t m0 x1b0 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,689<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37db w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,461<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37db w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">3,811<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37dc w3c hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>leases wit<span class=\"_ _1\"></span>h tenants<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37dc w24 hfe\"><div class=\"t m0 x19d hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">307<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37dc w24 hfe\"><div class=\"t m0 x19e hfb y28d5 ff3f fsba fc4 sc0 ls1ea ws1\">271<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37dc w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">583<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37dc w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">584<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37dc w24 hfe\"><div class=\"t m0 x1a6 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">1,745<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37dd w3c hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">Liquidity (deficit) <span class=\"_ _1\"></span><span class=\"ls1e3\">surplus<span class=\"ls1\"> </span></span></div></td><td class=\"c x21d y37dd w24 hfe\"><div class=\"t m0 x19b hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(144)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37dd w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37dd w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(1,106)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37dd w24 hfe\"><div class=\"t m0 x196 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(877)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37dd w24 hfe\"><div class=\"t m0 x1ae hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(2,066)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3543 w3c hfd\"><div class=\"t m0 x0 hfb y28e3 ff42 fsba fc4 sc0 ls1d9 ws1\">Cumulative liqui<span class=\"_ _1\"></span>dity <span class=\"ls1d8\">deficit</span><span class=\"ls1d8\"><span class=\"ls1\">  </span></span></div></td><td class=\"c x21d y3543 w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(144)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3543 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(83)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(1,189)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3543 w24 hfd\"><div class=\"t m0 x199 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(2,066)<span class=\"ls1\"> </span></div></td><td></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1ff\">Gross debt of \u00a3<span class=\"ls1fe\">2,996<span class=\"ls1f5\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2,728</span></span></span>m) represents<span class=\"_ _1\"></span> the <span class=\"ls1f3\">total of <span class=\"ls1\">\u00a3<span class=\"ls203\">3,016</span></span></span>m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2,753</span></span></span>m), le<span class=\"_ _1\"></span>ss unamortise<span class=\"_ _1\"></span>d issue cost<span class=\"_ _1\"></span>s of <span class=\"ls1\">\u00a3<span class=\"ls1fd\">14</span></span>m </span></span></span></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>17<span class=\"ls1f5\">m), less fair v<span class=\"_ _1\"></span>alue adjustme<span class=\"_ _1\"></span>nts to debt o<span class=\"_ _1\"></span>f <span class=\"ls1\">\u00a36</span>m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span>\u00a38</span>m).<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1f5\"><span class=\"ls1\"> </span></span></span>Any <span class=\"ls224\">short term liquidity gap between the net payments required and the rentals receivable can be met through other </span>liquidity sou<span class=\"_ _0\"></span>rces availab<span class=\"_ _0\"></span>le to the Grou<span class=\"_ _0\"></span>p, such as co<span class=\"_ _0\"></span>mmitted u<span class=\"_ _0\"></span>ndrawn bo<span class=\"_ _0\"></span>rrowing fac<span class=\"_ _0\"></span>ilities<span class=\"ls1\"> <span class=\"ls220\">of </span>\u00a31,4<span class=\"ls221\">56</span>m<span class=\"_ _0\"></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls22f\">1,7<span class=\"_ _0\"></span>75<span class=\"ls233\">m) </span></span></span></span>and<span class=\"ls1\"> <span class=\"ls226\">cash and cash equivale<span class=\"ls221\">nts of \u00a3<span class=\"ls22f\">176<span class=\"ls233\">m <span class=\"ls243\">(202</span></span></span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">57<span class=\"ls233\">m)</span></span></span>, <span class=\"ls220\">of which \u00a3<span class=\"ls22f\">131<span class=\"ls233\">m <span class=\"ls243\">(202</span></span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>\u00a3<span class=\"ls268\">21<span class=\"ls233\">m) <span class=\"ls1fc\">is not subje<span class=\"_ _0\"></span>ct to a secur<span class=\"_ _0\"></span>ity </span></span></span></span>interest. <span class=\"ls1ec\">As a result,<span class=\"_ _1\"></span> the Group h<span class=\"_ _1\"></span>as no requi<span class=\"_ _1\"></span>rement to re<span class=\"_ _1\"></span>finance unti<span class=\"_ _1\"></span>l <span class=\"ls223\">early 2029<span class=\"ls235\">. <span class=\"ls249\">Further li<span class=\"_ _1\"></span>quidity can be achi<span class=\"_ _1\"></span>eved </span></span></span></span>through sales of prope<span class=\"_ _0\"></span>rty assets or <span class=\"ls1fc\">investme<span class=\"_ _0\"></span>nts and finan<span class=\"_ _0\"></span>cing activity.<span class=\"ls1\"> </span></span>The Group\u2019s property <span class=\"_ _1\"></span>portfolio is val<span class=\"_ _1\"></span>ued externally at <span class=\"_ _1\"></span>\u00a3<span class=\"ls1\">6,<span class=\"ls221\">316<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span></span>6,065<span class=\"ls233\">m) and th<span class=\"_ _1\"></span>e share <span class=\"_ _1\"></span>of joi<span class=\"_ _1\"></span>nt vent<span class=\"_ _1\"></span>ures\u2019 </span>property is val<span class=\"_ _1\"></span>ued <span class=\"ls225\">at \u00a3<span class=\"ls1\">3,<span class=\"ls268\">746<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5: \u00a3<span class=\"ls221\">3,421<span class=\"ls233\">m). The <span class=\"_ _1\"></span>committe<span class=\"_ _1\"></span>d undrawn <span class=\"_ _1\"></span>borrowi<span class=\"_ _1\"></span>ng faci<span class=\"_ _1\"></span>lities<span class=\"_ _1\"></span> availa<span class=\"_ _1\"></span>ble to<span class=\"ls1\"> <span class=\"ls222\">the Group </span></span></span></span></span></span>are a further source of <span class=\"_ _1\"></span>liquidity. The maturity profi<span class=\"_ _1\"></span>le of committed undrawn borrowing faciliti<span class=\"_ _1\"></span>es is shown below.<span class=\"ls1\"> </span>Maturity <span class=\"_ _0\"></span>of committe<span class=\"_ _0\"></span>d undrawn b<span class=\"_ _0\"></span>orrowing f<span class=\"_ _0\"></span>acilitie<span class=\"_ _0\"></span>s<span class=\"ls1\"> </span><table class=\"s w1cd h18d\" id=\"_7a3826f5-abfd-4def-9f90-beb8911c6446\"><tr><td></td><td class=\"c x200 y37ec w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37ec w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37ed w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37ed wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y37ee w1ce h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">Maturity <span class=\"_ _1\"></span>date:<span class=\"_ _216\"> </span></div><div class=\"t m0 x379 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">over five years<span class=\"_ _216\"> </span></div></td><td class=\"c x1fc y37ef w24 hfd\"><div class=\"t m0 x19d hfb y28f7 ff42 fsba fc11 sc0 ls1d7 ws1\">250<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ef w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">140<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x37a y37f0 w62 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1eb ws1\">between four and <span class=\"ls1e7\">five years</span><span class=\"ls1e7\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y37f0 w24 hfe\"><div class=\"t m0 x19a hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">665<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f0 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,055<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x37a y37f1 w62 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1eb ws1\">between three and fou<span class=\"_ _1\"></span>r years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f1 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f1 w24 hfd\"><div class=\"t m0 x1aa hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td></tr><tr><td class=\"c x1f9 y37f2 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">Total faciliti<span class=\"_ _1\"></span>es available for more <span class=\"_ _1\"></span>than three years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f2 w24 hfe\"><div class=\"t m0 x1a6 hfb y2943 ff42 fsba fc11 sc0 ls1df ws1\">1,15<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f2 w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,201<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f3 w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">Between two and thr<span class=\"_ _1\"></span>ee years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f3 w24 hfd\"><div class=\"t m0 x1aa hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y37f3 w24 hfd\"><div class=\"t m0 x1a2 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">24 </div></td></tr><tr><td class=\"c x1f9 y37f4 w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">Between one and two <span class=\"_ _1\"></span>years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f4 w24 hfe\"><div class=\"t m0 x16e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37f4 w24 hfe\"><div class=\"t m0 x19d hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">450<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f5 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls27a ws1\">Within<span class=\"_ _1\"></span> one ye<span class=\"_ _1\"></span>ar<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f5 w24 hfd\"><div class=\"t m0 x19d hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">302<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f5 w24 hfd\"><div class=\"t m0 x1a3 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">1<span class=\"ls275\">00</span> </div></td></tr><tr><td class=\"c x1f9 y37cd w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cd w24 hfd\"><div class=\"t m0 x178 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">1,456<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cd w24 hfd\"><div class=\"t m0 x1a6 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">1,<span class=\"ls208\">775</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-474": {
   "value": "Fair value hierarc<span class=\"_ _0\"></span>hy<span class=\"ls1\"> </span>The table below pr<span class=\"_ _1\"></span>ovides an analysis of <span class=\"_ _1\"></span>financial instruments<span class=\"_ _1\"></span> carried at fai<span class=\"_ _1\"></span>r value, by the va<span class=\"_ _1\"></span>luation method. The fai<span class=\"_ _1\"></span>r value hierarchy levels <span class=\"_ _1\"></span>are defined in Note 10.<span class=\"ls1\"> </span><table class=\"s w1a5 h184\" id=\"_43ae2ca4-0d75-48a2-847a-1307ec2f5359\"><tr><td></td><td></td><td class=\"c x34a y379c w5d hf8\"><div class=\"t m0 x21 hf9 y2947 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td class=\"c x21f y379c w5d hf8\"><div class=\"t m0 x21 hf9 y2947 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x34b y379d w1a6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 1<span class=\"_ _216\"> </span></div></td><td class=\"c x34c y379d w1a7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 2<span class=\"_ _216\"> </span></div></td><td class=\"c x1ec y379d w105 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x34d y379d w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x34e y379d w1a8 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 1<span class=\"_ _216\"> </span></div></td><td class=\"c x34f y379d w1a9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 2<span class=\"_ _216\"> </span></div></td><td class=\"c x350 y379d w116 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x20a y379d wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x351 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x352 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x353 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x354 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x217 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x355 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x219 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e3 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y379f w1aa h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> <span class=\"ls1e6\">currency<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y37a0 w1ab h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">derivative<span class=\"ls1\"> <span class=\"ls1e6\">assets<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x34a y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a1 w28 h102\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a1 w28 h102\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a1 w28 h102\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a1 w28 h102\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a2 w5c h102\"><div class=\"t m0 x0 hfb y2c27 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments <span class=\"ls1\">\u2013 <span class=\"ls1e7\">fair value through </span></span></div><div class=\"t m0 x0 hfb y2c28 ff3f fsba fc4 sc0 ls1eb ws1\">profit or loss<span class=\"_ _1\"></span> (Note 12)<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a2 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a2 w28 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fa y37a2 w29 h102\"><div class=\"t m0 x1a7 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a2 w28 h102\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a2 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a2 w28 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x221 y37a2 w29 h102\"><div class=\"t m0 x1b0 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a2 w28 h102\"><div class=\"t m0 x1a6 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a3 w5c hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1e1 ws1\">Assets<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a3 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a3 w28 hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a3 w29 hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a3 w28 hfe\"><div class=\"t m0 x199 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">100)</span> </div></td><td class=\"c x21f y37a3 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a3 w28 hfe\"><div class=\"t m0 x178 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a3 w29 hfe\"><div class=\"t m0 x1b0 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a3 w28 hfe\"><div class=\"t m0 x198 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(123)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y37a4 w1ac h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y37a5 w1ad h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">derivative<span class=\"ls1\"> <span class=\"ls1e5\">liabilities<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x34a y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a6 w28 h102\"><div class=\"t m0 x1c1 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a6 w28 h102\"><div class=\"t m0 x1c1 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a6 w28 h102\"><div class=\"t m0 x196 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a6 w28 h102\"><div class=\"t m0 x196 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a7 w5c hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1dd ws1\">Liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a7 w28 hfe\"><div class=\"t m0 x1c1 hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a7 w28 hfe\"><div class=\"t m0 x1c1 hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a7 w28 hfe\"><div class=\"t m0 x196 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a7 w28 hfe\"><div class=\"t m0 x196 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a8 w5c hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a8 w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(23)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a8 w29 hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(55)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a8 w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a8 w29 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(65)<span class=\"ls1\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-480": {
   "value": "Fair value hierarc<span class=\"_ _0\"></span>hy<span class=\"ls1\"> </span>The table below pr<span class=\"_ _1\"></span>ovides an analysis of <span class=\"_ _1\"></span>financial instruments<span class=\"_ _1\"></span> carried at fai<span class=\"_ _1\"></span>r value, by the va<span class=\"_ _1\"></span>luation method. The fai<span class=\"_ _1\"></span>r value hierarchy levels <span class=\"_ _1\"></span>are defined in Note 10.<span class=\"ls1\"> </span><table class=\"s w1a5 h184\" id=\"_43ae2ca4-0d75-48a2-847a-1307ec2f5359\"><tr><td></td><td></td><td class=\"c x34a y379c w5d hf8\"><div class=\"t m0 x21 hf9 y2947 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td class=\"c x21f y379c w5d hf8\"><div class=\"t m0 x21 hf9 y2947 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x34b y379d w1a6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 1<span class=\"_ _216\"> </span></div></td><td class=\"c x34c y379d w1a7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 2<span class=\"_ _216\"> </span></div></td><td class=\"c x1ec y379d w105 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x34d y379d w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td><td class=\"c x34e y379d w1a8 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 1<span class=\"_ _216\"> </span></div></td><td class=\"c x34f y379d w1a9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 2<span class=\"_ _216\"> </span></div></td><td class=\"c x350 y379d w116 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Level 3<span class=\"_ _216\"> </span></div></td><td class=\"c x20a y379d wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x351 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x352 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x353 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x354 y379e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x217 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x355 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x219 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e3 y379e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y379f w1aa h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> <span class=\"ls1e6\">currency<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y37a0 w1ab h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">derivative<span class=\"ls1\"> <span class=\"ls1e6\">assets<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x34a y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a1 w28 h102\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a1 w28 h102\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a1 w28 h102\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a1 w29 h102\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a1 w28 h102\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a2 w5c h102\"><div class=\"t m0 x0 hfb y2c27 ff3f fsba fc4 sc0 ls204 ws1\">Other inv<span class=\"_ _1\"></span>estments <span class=\"ls1\">\u2013 <span class=\"ls1e7\">fair value through </span></span></div><div class=\"t m0 x0 hfb y2c28 ff3f fsba fc4 sc0 ls1eb ws1\">profit or loss<span class=\"_ _1\"></span> (Note 12)<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a2 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a2 w28 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fa y37a2 w29 h102\"><div class=\"t m0 x1a7 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a2 w28 h102\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a2 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a2 w28 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x221 y37a2 w29 h102\"><div class=\"t m0 x1b0 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a2 w28 h102\"><div class=\"t m0 x1a6 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a3 w5c hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1e1 ws1\">Assets<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a3 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a3 w28 hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(68)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a3 w29 hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a3 w28 hfe\"><div class=\"t m0 x199 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">(<span class=\"ls1df\">100)</span> </div></td><td class=\"c x21f y37a3 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a3 w28 hfe\"><div class=\"t m0 x178 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(82)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a3 w29 hfe\"><div class=\"t m0 x1b0 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a3 w28 hfe\"><div class=\"t m0 x198 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(123)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y37a4 w1ac h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest rate and<span class=\"_ _0\"></span> currency<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y37a5 w1ad h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">derivative<span class=\"ls1\"> <span class=\"ls1e5\">liabilities<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x34a y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a6 w28 h102\"><div class=\"t m0 x1c1 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a6 w28 h102\"><div class=\"t m0 x1c1 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a6 w28 h102\"><div class=\"t m0 x196 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a6 w29 h102\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a6 w28 h102\"><div class=\"t m0 x196 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a7 w5c hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1dd ws1\">Liabilities<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a7 w28 hfe\"><div class=\"t m0 x1c1 hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x356 y37a7 w28 hfe\"><div class=\"t m0 x1c1 hfb y28fc ff42 fsba fc11 sc0 ls1e9 ws1\">45<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a7 w28 hfe\"><div class=\"t m0 x196 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a7 w29 hfe\"><div class=\"t m0 x19e hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x222 y37a7 w28 hfe\"><div class=\"t m0 x196 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">58<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37a8 w5c hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x34a y37a8 w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(23)<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y37a8 w29 hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(32)<span class=\"ls1\"> </span></div></td><td class=\"c x356 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(55)<span class=\"ls1\"> </span></div></td><td class=\"c x21f y37a8 w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x220 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x221 y37a8 w29 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(41)<span class=\"ls1\"> </span></div></td><td class=\"c x222 y37a8 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(65)<span class=\"ls1\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-481": {
   "value": "Capital ri<span class=\"_ _0\"></span>sk management<span class=\"ls1\"> </span>The capital st<span class=\"_ _1\"></span>ructure of the Group consi<span class=\"_ _1\"></span>sts of net debt and <span class=\"_ _1\"></span>equity attributabl<span class=\"_ _1\"></span>e to the equity hol<span class=\"_ _1\"></span>ders of The British <span class=\"_ _1\"></span>Land Company PLC, compri<span class=\"_ _1\"></span>sing iss<span class=\"ls221\">ued capi<span class=\"_ _1\"></span>tal, reserves and retai<span class=\"_ _1\"></span>ned earnings. Risks relati<span class=\"_ _1\"></span>ng to capital structur<span class=\"_ _1\"></span>e are </span>addressed within Managing risk i<span class=\"_ _1\"></span>n delivering our strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58<span class=\"ls235\">. The Group\u2019s objec<span class=\"_ _0\"></span>tives, policies<span class=\"_ _0\"></span> and </span></span></span></span>processes for managi<span class=\"_ _1\"></span>ng debt are set out <span class=\"_ _1\"></span>in the Financial<span class=\"_ _1\"></span> policies and pri<span class=\"_ _1\"></span>nciples on pages <span class=\"ls24a\">44<span class=\"ls1\"> <span class=\"ls222\">to </span></span>46<span class=\"ls235\">. </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-475": {
   "value": "Capital ri<span class=\"_ _0\"></span>sk management<span class=\"ls1\"> </span>The capital st<span class=\"_ _1\"></span>ructure of the Group consi<span class=\"_ _1\"></span>sts of net debt and <span class=\"_ _1\"></span>equity attributabl<span class=\"_ _1\"></span>e to the equity hol<span class=\"_ _1\"></span>ders of The British <span class=\"_ _1\"></span>Land Company PLC, compri<span class=\"_ _1\"></span>sing iss<span class=\"ls221\">ued capi<span class=\"_ _1\"></span>tal, reserves and retai<span class=\"_ _1\"></span>ned earnings. Risks relati<span class=\"_ _1\"></span>ng to capital structur<span class=\"_ _1\"></span>e are </span>addressed within Managing risk i<span class=\"_ _1\"></span>n delivering our strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58<span class=\"ls235\">. The Group\u2019s objec<span class=\"_ _0\"></span>tives, policies<span class=\"_ _0\"></span> and </span></span></span></span>processes for managi<span class=\"_ _1\"></span>ng debt are set out <span class=\"_ _1\"></span>in the Financial<span class=\"_ _1\"></span> policies and pri<span class=\"_ _1\"></span>nciples on pages <span class=\"ls24a\">44<span class=\"ls1\"> <span class=\"ls222\">to </span></span>46<span class=\"ls235\">. </span></span><span class=\"ls24a\"><span class=\"ls235\"><span class=\"ls1\"> </span></span></span>Interest rate risk m<span class=\"_ _1\"></span>anagement<span class=\"ls1\"> </span>The Group uses inter<span class=\"_ _1\"></span>est rate swaps and caps <span class=\"_ _1\"></span>to hedge exposure to the <span class=\"_ _1\"></span>variability i<span class=\"_ _1\"></span>n cash flows on floa<span class=\"_ _1\"></span>ting rate debt, such as revolving <span class=\"ls226\">credit <span class=\"ls231\">facilities, caused by move<span class=\"_ _0\"></span>ments in mark<span class=\"ls223\">et rates of interest. The Group\u2019s <span class=\"_ _1\"></span>objectives and </span></span></span>processes for managi<span class=\"_ _1\"></span>ng interest rate <span class=\"_ _1\"></span>risk are set out<span class=\"_ _1\"></span> in the Financial<span class=\"_ _1\"></span> policies and pr<span class=\"_ _1\"></span>inciples on pages <span class=\"ls24a\">44 <span class=\"_ _1\"></span><span class=\"ls222\">to <span class=\"ls24a\">46.<span class=\"ls1\"> </span></span></span></span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of these <span class=\"_ _0\"></span>derivatives is<span class=\"_ _0\"></span> a net <span class=\"ls225\">asset</span></span> of <span class=\"ls220\">\u00a356m<span class=\"_ _0\"></span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls220\">63<span class=\"ls233\">m).</span></span></span> <span class=\"ls22e\">Intere<span class=\"_ _0\"></span>st rate swaps w<span class=\"_ _0\"></span>ith </span></span>a <span class=\"ls231\">fair value of <span class=\"ls220\">\u00a3nil <span class=\"ls243\">(202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a3nil) <span class=\"ls221\">have been designated as cash flow hedges under<span class=\"_ _1\"></span> IFRS 9.<span class=\"ls1\"> </span></span></span>The ineffectivene<span class=\"_ _1\"></span>ss recognised in the <span class=\"_ _1\"></span><span class=\"ls226\">consolidated <span class=\"ls1fc\">income st<span class=\"_ _0\"></span>atement on<span class=\"_ _0\"></span> cash flow he<span class=\"_ _0\"></span>dges in the y<span class=\"_ _0\"></span>ear ended <span class=\"_ _0\"></span>31 March </span></span>202<span class=\"ls1\">6 <span class=\"ls236\">was <span class=\"ls220\">\u00a3nil</span></span> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5: <span class=\"ls220\">\u00a3nil).<span class=\"_ _216\"> </span></span></span>The cash flows occur<span class=\"_ _1\"></span> and are charged to prof<span class=\"_ _1\"></span>it and loss until<span class=\"_ _1\"></span> the maturity of t<span class=\"_ _1\"></span>he hedged debt. The tabl<span class=\"_ _1\"></span>e below summarises variable rate debt hedged at 31 March.<span class=\"ls1\"> </span>Variable rat<span class=\"_ _0\"></span>e debt hedged <span class=\"ls1\"> </span><table class=\"s w1b9 h187\" id=\"_e72ed649-3703-4eb5-8d79-b2927ac7e025\"><tr><td></td><td class=\"c x35e y37c1 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x35f y37c1 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x360 y37c2 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x361 y37c2 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y37c3 w1ba h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls204 ws1\">Outstanding<span class=\"_ _1\"></span>:<span class=\"_ _216\"> </span></div><div class=\"t m0 x362 hfb y3476 ff3f fsba fc4 sc0 ls1e6 ws1\">at one year<span class=\"_ _216\"> </span></div></td><td class=\"c x32c y364f w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">1,570<span class=\"ls1\"> </span></div></td><td class=\"c x363 y364f w58 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls208 ws1\">2,020<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x364 y3650 w5e hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\"> <span class=\"ls1e6\">at two years</span> </div></td><td class=\"c x32c y3650 w24 hfd\"><div class=\"t m0 x178 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">1,450<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3650 w58 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">1,670<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x364 y3651 w5e hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\"> <span class=\"ls1e6\">at five years</span> </div></td><td class=\"c x32c y3651 w24 hfe\"><div class=\"t m0 x19a hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">850<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3651 w58 hfe\"><div class=\"t m0 x19a hfb y28d7 ff3f fsba fc4 sc0 ls1e0 ws1\">950<span class=\"ls1\"> </span></div></td></tr></table>Fair value hedged debt<span class=\"ls1\"> </span>The Group uses inter<span class=\"_ _1\"></span>est rate swaps to hedge <span class=\"_ _1\"></span>exposure on fixed rat<span class=\"_ _1\"></span>e financial li<span class=\"_ _1\"></span>abilities caused <span class=\"_ _1\"></span>by movements in market rates of <span class=\"ls1fc\">interest.<span class=\"ls1\"> </span></span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of these <span class=\"_ _0\"></span>derivatives is<span class=\"_ _0\"></span> a net <span class=\"ls1fc\">liability</span></span> <span class=\"ls220\">of</span> <span class=\"ls220\">\u00a333m<span class=\"_ _0\"></span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls221\">net <span class=\"ls1fc\">liabilit<span class=\"_ _0\"></span>y</span></span></span> <span class=\"ls220\">of</span> \u00a339<span class=\"ls233\">m). Intere<span class=\"_ _1\"></span>st </span></span>rate<span class=\"ls1\"> <span class=\"ls224\">swaps with a fair value <span class=\"ls225\">asset</span></span> <span class=\"ls220\">of </span>\u00a37m <span class=\"ls221\">have been designated as fair value hedges under IFRS <span class=\"_ _1\"></span>9 (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls225\">asset</span></span> </span></span></span>of<span class=\"ls1\"> \u00a38<span class=\"ls233\">m).</span> </span>The cross<span class=\"ls1\">-<span class=\"ls226\">currency swaps of the 2025/2026 US Private Pl<span class=\"_ _1\"></span>acements fully hedge the foreign exchange exposure at an </span></span>average floating rate <span class=\"ls220\">of<span class=\"ls1\"> <span class=\"ls22f\">174</span> <span class=\"ls234\">basis poi<span class=\"_ _1\"></span>nts above SONIA. These ha<span class=\"_ _1\"></span><span class=\"ls223\">ve been designated as fair value <span class=\"_ _1\"></span>hedges of the US </span></span></span></span>Private Placements<span class=\"_ _1\"></span>.<span class=\"ls1\"> </span>Interest rate profile<span class=\"_ _1\"></span> <span class=\"ls1\">\u2013 <span class=\"ls240\">including effect o<span class=\"_ _1\"></span>f derivatives<span class=\"ls1\"> </span></span></span><table class=\"s w18e h188\" id=\"_d68be6d8-ca81-4c37-b0a7-b53200ea9528\"><tr><td></td><td class=\"c x32d y37c4 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37c4 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37c5 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37c5 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37c6 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls214 ws1\">Fixed or capped rate<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c6 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c6 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y37c7 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c7 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr></table>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6 <span class=\"ls222\">the weighted ave<span class=\"_ _0\"></span>rage interest rate of the Sterling fixed rate d<span class=\"_ _0\"></span>ebt is </span>4.4<span class=\"ls276\">% (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 4.</span>3<span class=\"ls276\">%). </span></span>The<span class=\"ls1\"> <span class=\"ls236\">weighted a<span class=\"_ _1\"></span>verage peri<span class=\"_ _1\"></span>od for whi<span class=\"_ _1\"></span>ch the r<span class=\"_ _1\"></span>ate is f<span class=\"_ _1\"></span>ixed is <span class=\"_ _1\"></span><span class=\"ls221\">5.5<span class=\"ls1\"> <span class=\"ls223\">years (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span></span>5.5<span class=\"ls1\"> <span class=\"ls223\">years). </span> </span></span></span></span>Sensitivity table <span class=\"ls1\">\u2013 <span class=\"ls22a\">mark<span class=\"_ _0\"></span>et rate <span class=\"_ _0\"></span>movements</span> </span><table class=\"s w1bb h189\" id=\"_44474e93-d210-4e9c-818a-3ec7adb535d1\"><tr><td></td><td class=\"c x1fb y37c8 w3e hf8\"><div class=\"t m0 x1aa hf9 y2933 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y37c8 w3e hf8\"><div class=\"t m0 x1 hf9 y2933 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x1fb y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3e fsb9 fc11 sc0 ls284 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3d fsb9 fc4 sc0 ls287 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ca w5f hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>interest <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 x18b hff y2db7 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x9f hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37ca w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37ca w24 hfe\"><div class=\"t m0 x1c1 hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(100)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ca w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ca w24 hfe\"><div class=\"t m0 x196 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(100)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37cb w5f hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on und<span class=\"_ _0\"></span>erlying annual pro<span class=\"_ _0\"></span>fit (\u00a3m)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x365 y37cb w24 hfd\"><div class=\"t m0 x16e hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y37cc w5f hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>medium and lo<span class=\"_ _1\"></span>ng term swap <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 xb3 hff y2f4b ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x2 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37cc w24 hfd\"><div class=\"t m0 x1a3 hfb y2c1d ff42 fsba fc11 sc0 ls1e9 ws1\">421<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cc w24 hfd\"><div class=\"t m0 x19b hfb y2c1d ff42 fsba fc11 sc0 ls1da ws1\">(421)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cc w24 hfd\"><div class=\"t m0 x19d hfb y2c1d ff3f fsba fc4 sc0 ls1d8 ws1\">424<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cc w24 hfd\"><div class=\"t m0 x1c1 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(424)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y374b w1bc h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on cas<span class=\"_ _0\"></span>h flow hedge an<span class=\"_ _0\"></span>d <span class=\"ls1dd\">non<span class=\"ls1\">-</span>hedge accounted derivative<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w1bd h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls272 ws1\">valuations<span class=\"ls1\"> <span class=\"ls1db\">(\u00a3m)<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x1fb y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">154<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cd w24 h102\"><div class=\"t m0 x19b hfb y28e8 ff42 fsba fc11 sc0 ls1da ws1\">(137)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">164<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cd w24 h102\"><div class=\"t m0 x19d hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(185)<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The movement used for sensitivity <span class=\"_ _1\"></span>analysis <span class=\"ls1f9\">is <span class=\"ls1f4\">a 1% change in interest rates. <span class=\"ls1\"> </span></span></span></span></span>2.<span class=\"ls1\"> <span class=\"ls1fb\">This movement used for sensi<span class=\"_ _1\"></span>tivity analysis represents the <span class=\"_ _1\"></span>largest annual change in the <span class=\"ls202\">seven<span class=\"ls1\">-<span class=\"ls1fe\">year Sterli<span class=\"_ _1\"></span>ng swap rate over the last </span></span></span></span></span>10<span class=\"ls1\"> <span class=\"ls1fa\">years.<span class=\"_ _216\"> </span></span></span>Foreign currency risk <span class=\"_ _0\"></span>management<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>The Group\u2019s policy <span class=\"_ _1\"></span>is to have no materi<span class=\"_ _1\"></span>al unhedged net assets <span class=\"_ _1\"></span>or liabiliti<span class=\"_ _1\"></span>es denominated in forei<span class=\"_ _1\"></span>gn currencies. The<span class=\"_ _216\"> </span> currency risk on overseas in<span class=\"ls223\">vestments <span class=\"_ _1\"></span>may be hedged via foreign currency denominated borrowings <span class=\"_ _1\"></span>and derivatives.<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span>The Group has adopted net<span class=\"_ _1\"></span> investment hedging in a<span class=\"_ _1\"></span>ccordance with IFRS 9 and t<span class=\"_ _1\"></span>herefore the portion <span class=\"_ _1\"></span>of the gain or los<span class=\"_ _1\"></span>s<span class=\"_ _216\"> </span> on any hedging inst<span class=\"_ _1\"></span>rument that is determined <span class=\"_ _1\"></span>to be an <span class=\"ls223\">effective hedge i<span class=\"_ _1\"></span>s recognised directly in equi<span class=\"_ _1\"></span>ty. The ineffective<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span>portion of the <span class=\"_ _1\"></span>gain or loss on a<span class=\"_ _1\"></span>ny hedging instrument i<span class=\"_ _1\"></span>s recognised immediatel<span class=\"_ _1\"></span>y in the income st<span class=\"_ _1\"></span>atement.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>The table below shows <span class=\"_ _1\"></span>the carrying amounts of <span class=\"_ _1\"></span>the Group\u2019s foreign cur<span class=\"_ _1\"></span>rency denominate<span class=\"ls234\">d assets and <span class=\"_ _1\"></span>liabilities.<span class=\"_ _216\"> </span></span><span class=\"ls234\"><span class=\"_ _1\"></span> </span>Provided contingent<span class=\"_ _1\"></span> tax on overseas inv<span class=\"_ _1\"></span>estments is not expect<span class=\"_ _1\"></span>ed to occur it wil<span class=\"_ _1\"></span>l be ignored for <span class=\"_ _1\"></span>hedging purposes.<span class=\"_ _216\"> </span> Based on the <span class=\"_ _1\"></span>31<span class=\"ls1\"> <span class=\"ls230\">March 202</span>6 <span class=\"ls234\">position</span>, <span class=\"ls225\">a 28% appreciati<span class=\"_ _1\"></span>on (largest annual change over the last<span class=\"_ _1\"></span> 10 years) in the USD<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls225\"> </span></span>re<span class=\"ls1fc\">lative to St<span class=\"_ _0\"></span>erling would<span class=\"_ _0\"></span> result in a <span class=\"ls220\">\u00a3nil<span class=\"ls1\"> <span class=\"ls226\">change (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"_ _0\"></span>\u00a3</span>1m<span class=\"ls243\">) in reported profits.</span></span></span></span><span class=\"ls1fc\"><span class=\"ls220\"><span class=\"ls1\"> </span></span></span><table class=\"s w1be h18a\" id=\"_bb31086f-2714-485e-a904-74f3766b31d0\"><tr><td></td><td class=\"c x349 y37ce w3e hfe\"><div class=\"t m0 x1a4 hf9 y2914 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Assets<span class=\"_ _216\"> </span></div><div class=\"t m0 x24 hfc y2ed6 ff41 fsbb fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 xe7 hf9 y2914 ff3d fsb9 fc4 sc0 ls1 ws1\"> </div></td><td></td><td class=\"c x366 y37ce w3e hfe\"><div class=\"t m0 x19e hf9 y2914 ff3d fsb9 fc4 sc0 ls235 ws1\">Liabilities<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x367 y37cf w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x368 y37cf w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x369 y37cf w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x36a y37cf w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x347 y37d0 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37d0 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x36b y37d0 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x36c y37d0 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3543 w61 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">USD denominated<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">35 </div></td><td class=\"c x366 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td><td class=\"c x36d y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">33 </div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The USD denominated asset of \u00a3<span class=\"ls203\">32<span class=\"ls1f5\">m <span class=\"ls1fc\">(202</span></span></span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a33</span>5<span class=\"ls1f5\">m) <span class=\"ls1f9\">is an other</span></span> <span class=\"ls1f9\">investmen<span class=\"_ _0\"></span>t accounted for as fair v<span class=\"_ _0\"></span>alue through profit of lo<span class=\"_ _0\"></span>ss<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1f9\"> </span></span>as<span class=\"ls1\"> <span class=\"ls1f2\">disclosed in Note 12. The <span class=\"_ _1\"></span>remaining \u00a3<span class=\"ls200\">nil<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>6<span class=\"ls1f5\">m) <span class=\"ls1fb\">other investment accounted for as fai<span class=\"_ _1\"></span>r value through profit or loss<span class=\"_ _216\"> </span></span></span></span></span></span></span><span class=\"ls1\"><span class=\"ls1f2\"><span class=\"ls200\"><span class=\"ls1\"><span class=\"ls1f5\"><span class=\"ls1fb\"> </span></span></span></span></span></span>is<span class=\"ls1\"> a <span class=\"ls1f0\">Sterling</span> <span class=\"ls1f2\">denominated other investment.<span class=\"_ _216\"> </span></span></span>Credit ris<span class=\"_ _0\"></span>k management<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>The Group\u2019s approach t<span class=\"_ _1\"></span>o credit risk management of<span class=\"_ _1\"></span> counterparties is<span class=\"_ _1\"></span> referred to in Fi<span class=\"_ _1\"></span>nancial policies<span class=\"_ _1\"></span> and principles on<span class=\"_ _216\"> </span> pages <span class=\"ls24a\">44 <span class=\"ls222\">to </span>46<span class=\"ls1\"> <span class=\"ls225\">and the risks addressed <span class=\"_ _1\"></span>within Managing risk in deliveri<span class=\"_ _1\"></span>ng our strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58. <span class=\"ls220\">The ca<span class=\"_ _1\"></span>rrying<span class=\"_ _216\"> </span></span></span></span></span></span></span></span><span class=\"ls24a\"><span class=\"ls1\"><span class=\"ls225\"><span class=\"ls24a\"><span class=\"ls222\"><span class=\"ls221\"><span class=\"ls220\"> </span></span></span></span></span></span></span>amount of financ<span class=\"ls1fc\">ial assets record<span class=\"_ _0\"></span>ed in the fina<span class=\"_ _0\"></span>ncial statem<span class=\"_ _0\"></span>ents represe<span class=\"_ _0\"></span>nts the Grou<span class=\"_ _0\"></span>p\u2019s maximu<span class=\"_ _0\"></span>m exposu<span class=\"_ _0\"></span>re to credit ris<span class=\"_ _0\"></span>k<span class=\"_ _216\"> </span></span><span class=\"ls1fc\"> </span>without <span class=\"_ _1\"></span>taking acc<span class=\"_ _1\"></span>ount of t<span class=\"_ _1\"></span>he value <span class=\"_ _1\"></span>of any col<span class=\"_ _1\"></span>lateral <span class=\"_ _1\"></span>obtained.<span class=\"_ _216\"> </span><span class=\"_ _1\"></span><span class=\"ls1\"> </span>Banks and fi<span class=\"_ _1\"></span>nancial insti<span class=\"_ _1\"></span>tutions<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Cash and cash<span class=\"_ _1\"></span> equivalents <span class=\"_ _1\"></span>at 31 March 2<span class=\"_ _1\"></span>02<span class=\"ls1\">6 <span class=\"ls225\">amounted to \u00a3<span class=\"ls22f\">176<span class=\"ls233\">m (202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">57<span class=\"ls233\">m). Cash an<span class=\"_ _1\"></span>d cash e<span class=\"_ _1\"></span>quivalen<span class=\"_ _1\"></span>ts were<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"><span class=\"ls26a\"><span class=\"ls221\"><span class=\"ls233\"> </span></span></span></span>placed with fi<span class=\"_ _1\"></span>nancial instit<span class=\"_ _1\"></span>utions with BBB+ or bet<span class=\"_ _1\"></span>ter credit rati<span class=\"_ _1\"></span>ngs.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of all intere<span class=\"_ _0\"></span>st rate deriv<span class=\"_ _0\"></span>ative assets<span class=\"_ _0\"></span> was \u00a3<span class=\"ls220\">68<span class=\"ls233\">m (202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls93\">82<span class=\"ls233\">m).<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"> </span>At<span class=\"ls1\"> <span class=\"ls221\">31 March 202</span>6<span class=\"ls235\">, prior to tak<span class=\"_ _0\"></span>ing into acco<span class=\"_ _0\"></span>unt any off<span class=\"_ _0\"></span>set arrange<span class=\"_ _0\"></span>ments, the la<span class=\"_ _0\"></span>rgest com<span class=\"_ _0\"></span>bined credit<span class=\"_ _0\"></span> exposure t<span class=\"_ _0\"></span>o a single<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls235\"> </span></span>counterparty arising from money market deposits, <span class=\"_ _1\"></span>liquid investments and derivatives was \u00a3<span class=\"ls220\">68<span class=\"ls233\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls24a\">42</span></span></span>m). This<span class=\"_ _216\"> </span></span></span><span class=\"ls220\"><span class=\"ls233\"><span class=\"_ _1\"></span> </span></span>represents <span class=\"ls1\">0.7<span class=\"_ _0\"></span><span class=\"ls276\">% <span class=\"ls243\">(202</span></span>4/25<span class=\"ls26a\">: 0<span class=\"_ _0\"></span>.</span>5<span class=\"ls276\">%) of gro<span class=\"_ _1\"></span>ss assets.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls276\"><span class=\"_ _1\"></span><span class=\"ls1\"> </span></span></span>The deposit exposures<span class=\"_ _1\"></span> are with UK banks and UK <span class=\"_ _1\"></span>branches of internati<span class=\"_ _1\"></span>onal banks.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Trade debtors<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Trade debtors are <span class=\"_ _1\"></span>presented net of provi<span class=\"_ _1\"></span>sions for impairment f<span class=\"_ _1\"></span>or expected credit l<span class=\"_ _1\"></span>osses. Expected credit<span class=\"_ _1\"></span> losses are<span class=\"_ _216\"> </span> calculated on initi<span class=\"ls225\">al <span class=\"_ _1\"></span>recognition of trade debtors and subsequently <span class=\"_ _1\"></span>in accordance with IFRS 9, taking into <span class=\"_ _1\"></span>account<span class=\"_ _216\"> </span></span><span class=\"ls225\"> </span>historic and forward<span class=\"ls1\">-<span class=\"ls1fc\">looking informatio<span class=\"_ _0\"></span>n. </span></span><span class=\"ls1\"> </span>Tenant incentives<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Tenant incentives <span class=\"_ _1\"></span>and the associated tena<span class=\"_ _1\"></span>nt incentive provisi<span class=\"_ _1\"></span>ons for impairment for<span class=\"_ _1\"></span> expected credit<span class=\"ls1\"> <span class=\"ls1fc\">losses are bot<span class=\"_ _0\"></span>h<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1fc\"> </span></span>recognised within investm<span class=\"_ _0\"></span>ent property.<span class=\"ls1\"> <span class=\"ls24a\">Expected credit losses a<span class=\"_ _1\"></span>re calculated on i<span class=\"_ _1\"></span>nitial recogni<span class=\"_ _1\"></span>tion of tenant i<span class=\"_ _1\"></span>ncentives<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls24a\"> </span></span>and subsequently in accordance with I<span class=\"_ _1\"></span>FRS 9, taking into account historic <span class=\"_ _1\"></span>and forward<span class=\"ls1\">-<span class=\"ls1fc\">looking<span class=\"_ _0\"></span> information<span class=\"_ _0\"></span>.<span class=\"_ _216\"> </span></span></span>Liquidity risk management<span class=\"ls1\"> </span>The Group\u2019s approach t<span class=\"_ _1\"></span>o liquidity ri<span class=\"_ _1\"></span>sk management is discussed i<span class=\"_ _1\"></span>n Financial polic<span class=\"_ _1\"></span>ies and principles<span class=\"_ _1\"></span> on pages <span class=\"ls24a\">44 <span class=\"ls222\">to </span>46<span class=\"ls235\">, </span></span>and the risks addressed within <span class=\"_ _1\"></span>Managing risk in delivering our <span class=\"_ _1\"></span>strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58<span class=\"ls1\">. </span></span></span></span>The fol<span class=\"ls1fc\">lowing table pr<span class=\"_ _0\"></span>esents a ma<span class=\"_ _0\"></span>turity profile o<span class=\"_ _0\"></span>f the contrac<span class=\"_ _0\"></span>ted undisco<span class=\"_ _0\"></span>unted cash<span class=\"_ _0\"></span> flows of finan<span class=\"_ _0\"></span>cial liabilities ba<span class=\"_ _0\"></span>sed on </span>the earliest date on which th<span class=\"_ _0\"></span>e Group can be required to<span class=\"_ _0\"></span> pay. The table includes both inte<span class=\"_ _0\"></span>rest and principal flows. Where the interest payab<span class=\"ls1fc\">le is n<span class=\"_ _0\"></span>ot fixed, the a<span class=\"_ _0\"></span>mount disc<span class=\"_ _0\"></span>losed has be<span class=\"_ _0\"></span>en determ<span class=\"_ _0\"></span>ined by refer<span class=\"_ _0\"></span>ence to the p<span class=\"_ _0\"></span>rojected inte<span class=\"_ _0\"></span>rest rates </span>implied by<span class=\"_ _0\"></span> yield curves a<span class=\"_ _0\"></span>t the report<span class=\"_ _0\"></span>ing date. For<span class=\"_ _0\"></span> derivative fina<span class=\"_ _0\"></span>ncial instrum<span class=\"_ _0\"></span>ents that set<span class=\"_ _0\"></span>tle on a net ba<span class=\"_ _0\"></span>sis (e.g. intere<span class=\"_ _0\"></span>st<span class=\"ls1\"> </span>rate swaps) the undisco<span class=\"_ _0\"></span>unte<span class=\"ls234\">d net cash flows <span class=\"_ _1\"></span>are shown and for deri<span class=\"_ _1\"></span>vatives that requi<span class=\"_ _1\"></span>re gross settlement<span class=\"_ _1\"></span> (e.g. cross<span class=\"ls1\">-<span class=\"_ _216\"> </span></span></span>currency swaps) the undiscounted gross cash flows ar<span class=\"_ _1\"></span>e presented. Where payment obligations are in forei<span class=\"_ _1\"></span>gn currencies, the spot exchange ra<span class=\"_ _0\"></span>te ruling at the balance sheet date is use<span class=\"_ _0\"></span>d. Trade creditors which are rep<span class=\"_ _0\"></span>ayable within one year have been excluded from the anal<span class=\"_ _1\"></span>ysis.<span class=\"ls1\"> </span>The Group expects to <span class=\"_ _1\"></span>meet its financial<span class=\"_ _1\"></span> liabilities<span class=\"_ _1\"></span> through the various a<span class=\"_ _1\"></span>vailable liquidi<span class=\"_ _1\"></span>ty sources, incl<span class=\"_ _1\"></span>uding a secure renta<span class=\"ls1fc\">l </span>income p<span class=\"_ _0\"></span>rofile, asset s<span class=\"ls225\">ales, undrawn committed borrowing facilities and, in <span class=\"_ _1\"></span>the longer term, debt refinancings.<span class=\"ls1\"> </span></span>The future aggregate <span class=\"_ _1\"></span>minimum rentals receivabl<span class=\"_ _1\"></span>e under non<span class=\"ls1\">-<span class=\"ls226\">cancellable operating leases are <span class=\"_ _1\"></span>shown in the table on the </span></span>following page. Inc<span class=\"_ _0\"></span>ome from joint ventu<span class=\"_ _0\"></span>res is not <span class=\"ls1fc\">included. A<span class=\"_ _0\"></span>dditional liqu<span class=\"_ _0\"></span>idity will arise fr<span class=\"_ _0\"></span>om letting sp<span class=\"_ _0\"></span>ace in prop<span class=\"_ _0\"></span>erties </span>under construction as <span class=\"_ _1\"></span>well as from distributi<span class=\"_ _1\"></span>ons received from joint vent<span class=\"_ _1\"></span>ures.<span class=\"ls1\"> </span><table class=\"s w1c6 h18c\" id=\"_8b357a62-86fb-4076-905b-c366aab196b6\"><tr><td></td><td></td><td></td><td class=\"c x21d y37de w3c hf8\"><div class=\"t m0 x185 hf9 y28e1 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x372 y37df w1c7 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls2a0 ws1\">Within one<span class=\"_ _216\"> </span></div></td><td class=\"c x373 y37df w1c8 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Following<span class=\"_ _216\"> </span></div></td><td class=\"c x24c y37df w1c9 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Three to five<span class=\"_ _216\"> </span></div></td><td class=\"c x374 y37df w1ca h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls27e ws1\">Over five<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x375 y37e0 w1cb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x376 y37e0 w1cb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x377 y37e0 w1cc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x378 y37e0 w1cc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y37e0 w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x346 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e2 w3c hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls1\">d<span class=\"ls208\">ebt<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x16e hff y2f06 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x13a hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x21d y37e2 w24 hfd\"><div class=\"t m0 x19a hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">525<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e2 w24 hfd\"><div class=\"t m0 x19d hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">254<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e2 w24 hfd\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1df ws1\">1,536<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e2 w24 hfd\"><div class=\"t m0 x1a3 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">701<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e2 w24 hfd\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">3,016<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e3 w3c hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest on deb<span class=\"_ _0\"></span>t<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e3 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">137<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e3 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">120<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">267<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">109<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1eb ws1\">633<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e4 w3c hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e4 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">56<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e4 w24 hfd\"><div class=\"t m0 x1a4 hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e4 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e4 w24 hfd\"><div class=\"t m0 x1ad hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e4 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">106<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e5 w3c hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">Lease liability payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e5 w24 hfe\"><div class=\"t m0 x1aa hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x349 y37e5 w24 hfe\"><div class=\"t m0 x1ad hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e5 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">313<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e5 w24 hfe\"><div class=\"t m0 x19d hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">360<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e6 w3c hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">Total payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e6 w24 hfd\"><div class=\"t m0 x19a hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">727<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e6 w24 hfd\"><div class=\"t m0 x19a hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e6 w24 hfd\"><div class=\"t m0 x178 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">1,854<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e6 w24 hfd\"><div class=\"t m0 x1c1 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">1,137<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e6 w24 hfd\"><div class=\"t m0 x1a6 hfb y297c ff42 fsba fc11 sc0 ls1e9 ws1\">4,115<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e7 w3c hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>receipts<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(91)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(12)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(17)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e7 w24 hfe\"><div class=\"t m0 x1a4 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e7 w24 hfe\"><div class=\"t m0 x19b hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(122)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e8 w3c hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net <span class=\"ls1d8\">payment</span><span class=\"ls1d8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x21d y37e8 w24 hfe\"><div class=\"t m0 x19d hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">636<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e8 w24 hfe\"><div class=\"t m0 x19a hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">385<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e8 w24 hfe\"><div class=\"t m0 x1b0 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">1,837<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e8 w24 hfe\"><div class=\"t m0 x1a6 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">1,135<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e8 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">3,993<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e9 w3c hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>leases wit<span class=\"_ _1\"></span>h tenants<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">324<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">284<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e9 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">555<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1eb ws1\">604<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e9 w24 hfd\"><div class=\"t m0 x1b0 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">1,767<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ea w3c hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">Liquidity deficit<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ea w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(312)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37ea w24 hfe\"><div class=\"t m0 x19d hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(101)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37ea w24 hfe\"><div class=\"t m0 x198 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(1,282)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ea w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(531)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ea w24 hfe\"><div class=\"t m0 x1ae hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(2.226)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37eb w3c hfd\"><div class=\"t m0 x0 hfb y28dd ff42 fsba fc4 sc0 ls1d9 ws1\">Cumulative liqui<span class=\"_ _1\"></span>dity deficit<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37eb w24 hfd\"><div class=\"t m0 x19b hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(312)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37eb w24 hfd\"><div class=\"t m0 x196 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(413)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37eb w24 hfd\"><div class=\"t m0 x194 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(1,695)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37eb w24 hfd\"><div class=\"t m0 x1ae hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(2,226)<span class=\"ls1\"> </span></div></td><td></td></tr></table><table class=\"s w1bf h18b\" id=\"_4f410174-0369-4ca8-81d4-3b9c8eefacd2\"><tr><td></td><td></td><td></td><td class=\"c x21d y37d1 w3c hf8\"><div class=\"t m0 x185 hf9 y2935 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x36e y37d2 w1c0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls28e ws1\">Within one<span class=\"_ _216\"> </span></div></td><td class=\"c x35a y37d2 w1c1 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Following<span class=\"_ _216\"> </span></div></td><td class=\"c x36f y37d2 w1c2 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Three to <span class=\"ls288\">five<span class=\"_ _216\"> </span></span></div></td><td class=\"c x230 y37d2 w1c3 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls27e ws1\">Over five<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x2f5 y37d3 w1c4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x370 y37d3 w1c4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x371 y37d3 w1c5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x32d y37d3 w1c5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y37d3 wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x346 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d5 w3c hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls1\">d<span class=\"ls208\">ebt<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x16e hff y2ed7 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x13a hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x21d y37d5 w24 hfe\"><div class=\"t m0 x19a hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">337<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">105<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d5 w24 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">1,374<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d5 w24 hfe\"><div class=\"t m0 x19a hfb y28e6 ff3f fsba fc4 sc0 ls1e0 ws1\">937<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d5 w24 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls208 ws1\">2,753<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d6 w3c hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest on deb<span class=\"_ _0\"></span>t<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d6 w24 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">129<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d6 w24 hfd\"><div class=\"t m0 x192 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">110<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d6 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1ea ws1\">272<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d6 w24 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">195<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d6 w24 hfd\"><div class=\"t m0 x19d hfb y28e8 ff3f fsba fc4 sc0 ls208 ws1\">706<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d7 w3c hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d7 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d7 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">66<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d7 w24 hfe\"><div class=\"t m0 x8f hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d7 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d7 w24 hfe\"><div class=\"t m0 x19d hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">204<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d8 w3c hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">Lease liability payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d8 w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x349 y37d8 w24 hfd\"><div class=\"t m0 x1a4 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d8 w24 hfd\"><div class=\"t m0 x192 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d8 w24 hfd\"><div class=\"t m0 x19e hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">319<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d8 w24 hfd\"><div class=\"t m0 x19a hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">368<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d9 w3c hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">Total payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d9 w24 hfe\"><div class=\"t m0 x19a hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">568<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d9 w24 hfe\"><div class=\"t m0 x19e hfb y2912 ff3f fsba fc4 sc0 ls1ea ws1\">291<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,707<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,465<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1d8 ws1\">4,031<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37da w3c hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>receipts<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37da w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37da w24 hfd\"><div class=\"t m0 x192 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(81)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37da w24 hfd\"><div class=\"t m0 x192 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(18)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37da w24 hfd\"><div class=\"t m0 x1ad hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37da w24 hfd\"><div class=\"t m0 x1c1 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(220)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37db w3c hfe\"><div class=\"t m0 x0 hfb y2943 ff42 fsba fc4 sc0 ls1e1 ws1\">Net payment<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37db w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1d8 ws1\">451<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37db w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1ea ws1\">210<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37db w24 hfe\"><div class=\"t m0 x1b0 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,689<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37db w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,461<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37db w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">3,811<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37dc w3c hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>leases wit<span class=\"_ _1\"></span>h tenants<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37dc w24 hfe\"><div class=\"t m0 x19d hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">307<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37dc w24 hfe\"><div class=\"t m0 x19e hfb y28d5 ff3f fsba fc4 sc0 ls1ea ws1\">271<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37dc w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">583<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37dc w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">584<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37dc w24 hfe\"><div class=\"t m0 x1a6 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">1,745<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37dd w3c hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">Liquidity (deficit) <span class=\"_ _1\"></span><span class=\"ls1e3\">surplus<span class=\"ls1\"> </span></span></div></td><td class=\"c x21d y37dd w24 hfe\"><div class=\"t m0 x19b hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(144)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37dd w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37dd w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(1,106)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37dd w24 hfe\"><div class=\"t m0 x196 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(877)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37dd w24 hfe\"><div class=\"t m0 x1ae hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(2,066)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3543 w3c hfd\"><div class=\"t m0 x0 hfb y28e3 ff42 fsba fc4 sc0 ls1d9 ws1\">Cumulative liqui<span class=\"_ _1\"></span>dity <span class=\"ls1d8\">deficit</span><span class=\"ls1d8\"><span class=\"ls1\">  </span></span></div></td><td class=\"c x21d y3543 w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(144)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3543 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(83)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(1,189)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3543 w24 hfd\"><div class=\"t m0 x199 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(2,066)<span class=\"ls1\"> </span></div></td><td></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1ff\">Gross debt of \u00a3<span class=\"ls1fe\">2,996<span class=\"ls1f5\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2,728</span></span></span>m) represents<span class=\"_ _1\"></span> the <span class=\"ls1f3\">total of <span class=\"ls1\">\u00a3<span class=\"ls203\">3,016</span></span></span>m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2,753</span></span></span>m), le<span class=\"_ _1\"></span>ss unamortise<span class=\"_ _1\"></span>d issue cost<span class=\"_ _1\"></span>s of <span class=\"ls1\">\u00a3<span class=\"ls1fd\">14</span></span>m </span></span></span></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>17<span class=\"ls1f5\">m), less fair v<span class=\"_ _1\"></span>alue adjustme<span class=\"_ _1\"></span>nts to debt o<span class=\"_ _1\"></span>f <span class=\"ls1\">\u00a36</span>m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span>\u00a38</span>m).<span class=\"_ _216\"> </span></span></span>Any <span class=\"ls224\">short term liquidity gap between the net payments required and the rentals receivable can be met through other </span>liquidity sou<span class=\"_ _0\"></span>rces availab<span class=\"_ _0\"></span>le to the Grou<span class=\"_ _0\"></span>p, such as co<span class=\"_ _0\"></span>mmitted u<span class=\"_ _0\"></span>ndrawn bo<span class=\"_ _0\"></span>rrowing fac<span class=\"_ _0\"></span>ilities<span class=\"ls1\"> <span class=\"ls220\">of </span>\u00a31,4<span class=\"ls221\">56</span>m<span class=\"_ _0\"></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls22f\">1,7<span class=\"_ _0\"></span>75<span class=\"ls233\">m) </span></span></span></span>and<span class=\"ls1\"> <span class=\"ls226\">cash and cash equivale<span class=\"ls221\">nts of \u00a3<span class=\"ls22f\">176<span class=\"ls233\">m <span class=\"ls243\">(202</span></span></span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">57<span class=\"ls233\">m)</span></span></span>, <span class=\"ls220\">of which \u00a3<span class=\"ls22f\">131<span class=\"ls233\">m <span class=\"ls243\">(202</span></span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>\u00a3<span class=\"ls268\">21<span class=\"ls233\">m) <span class=\"ls1fc\">is not subje<span class=\"_ _0\"></span>ct to a secur<span class=\"_ _0\"></span>ity </span></span></span></span>interest. <span class=\"ls1ec\">As a result,<span class=\"_ _1\"></span> the Group h<span class=\"_ _1\"></span>as no requi<span class=\"_ _1\"></span>rement to re<span class=\"_ _1\"></span>finance unti<span class=\"_ _1\"></span>l <span class=\"ls223\">early 2029<span class=\"ls235\">. <span class=\"ls249\">Further li<span class=\"_ _1\"></span>quidity can be achi<span class=\"_ _1\"></span>eved </span></span></span></span>through sales of prope<span class=\"_ _0\"></span>rty assets or <span class=\"ls1fc\">investme<span class=\"_ _0\"></span>nts and finan<span class=\"_ _0\"></span>cing activity.<span class=\"ls1\"> </span></span>The Group\u2019s property <span class=\"_ _1\"></span>portfolio is val<span class=\"_ _1\"></span>ued externally at <span class=\"_ _1\"></span>\u00a3<span class=\"ls1\">6,<span class=\"ls221\">316<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span></span>6,065<span class=\"ls233\">m) and th<span class=\"_ _1\"></span>e share <span class=\"_ _1\"></span>of joi<span class=\"_ _1\"></span>nt vent<span class=\"_ _1\"></span>ures\u2019 </span>property is val<span class=\"_ _1\"></span>ued <span class=\"ls225\">at \u00a3<span class=\"ls1\">3,<span class=\"ls268\">746<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5: \u00a3<span class=\"ls221\">3,421<span class=\"ls233\">m). The <span class=\"_ _1\"></span>committe<span class=\"_ _1\"></span>d undrawn <span class=\"_ _1\"></span>borrowi<span class=\"_ _1\"></span>ng faci<span class=\"_ _1\"></span>lities<span class=\"_ _1\"></span> availa<span class=\"_ _1\"></span>ble to<span class=\"ls1\"> <span class=\"ls222\">the Group </span></span></span></span></span></span>are a further source of <span class=\"_ _1\"></span>liquidity. The maturity profi<span class=\"_ _1\"></span>le of committed undrawn borrowing faciliti<span class=\"_ _1\"></span>es is shown below.<span class=\"ls1\"> </span>Maturity <span class=\"_ _0\"></span>of committe<span class=\"_ _0\"></span>d undrawn b<span class=\"_ _0\"></span>orrowing f<span class=\"_ _0\"></span>acilitie<span class=\"_ _0\"></span>s<span class=\"ls1\"> </span><table class=\"s w1cd h18d\" id=\"_7a3826f5-abfd-4def-9f90-beb8911c6446\"><tr><td></td><td class=\"c x200 y37ec w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37ec w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37ed w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37ed wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y37ee w1ce h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">Maturity <span class=\"_ _1\"></span>date:<span class=\"_ _216\"> </span></div><div class=\"t m0 x379 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">over five years<span class=\"_ _216\"> </span></div></td><td class=\"c x1fc y37ef w24 hfd\"><div class=\"t m0 x19d hfb y28f7 ff42 fsba fc11 sc0 ls1d7 ws1\">250<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ef w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">140<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x37a y37f0 w62 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1eb ws1\">between four and <span class=\"ls1e7\">five years</span><span class=\"ls1e7\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y37f0 w24 hfe\"><div class=\"t m0 x19a hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">665<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f0 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,055<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x37a y37f1 w62 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1eb ws1\">between three and fou<span class=\"_ _1\"></span>r years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f1 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f1 w24 hfd\"><div class=\"t m0 x1aa hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td></tr><tr><td class=\"c x1f9 y37f2 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">Total faciliti<span class=\"_ _1\"></span>es available for more <span class=\"_ _1\"></span>than three years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f2 w24 hfe\"><div class=\"t m0 x1a6 hfb y2943 ff42 fsba fc11 sc0 ls1df ws1\">1,15<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f2 w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,201<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f3 w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">Between two and thr<span class=\"_ _1\"></span>ee years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f3 w24 hfd\"><div class=\"t m0 x1aa hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y37f3 w24 hfd\"><div class=\"t m0 x1a2 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">24 </div></td></tr><tr><td class=\"c x1f9 y37f4 w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">Between one and two <span class=\"_ _1\"></span>years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f4 w24 hfe\"><div class=\"t m0 x16e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37f4 w24 hfe\"><div class=\"t m0 x19d hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">450<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f5 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls27a ws1\">Within<span class=\"_ _1\"></span> one ye<span class=\"_ _1\"></span>ar<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f5 w24 hfd\"><div class=\"t m0 x19d hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">302<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f5 w24 hfd\"><div class=\"t m0 x1a3 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">1<span class=\"ls275\">00</span> </div></td></tr><tr><td class=\"c x1f9 y37cd w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cd w24 hfd\"><div class=\"t m0 x178 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">1,456<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cd w24 hfd\"><div class=\"t m0 x1a6 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">1,<span class=\"ls208\">775</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-482": {
   "value": "Interest rate risk m<span class=\"_ _1\"></span>anagement<span class=\"ls1\"> </span>The Group uses inter<span class=\"_ _1\"></span>est rate swaps and caps <span class=\"_ _1\"></span>to hedge exposure to the <span class=\"_ _1\"></span>variability i<span class=\"_ _1\"></span>n cash flows on floa<span class=\"_ _1\"></span>ting rate debt, such as revolving <span class=\"ls226\">credit <span class=\"ls231\">facilities, caused by move<span class=\"_ _0\"></span>ments in mark<span class=\"ls223\">et rates of interest. The Group\u2019s <span class=\"_ _1\"></span>objectives and </span></span></span>processes for managi<span class=\"_ _1\"></span>ng interest rate <span class=\"_ _1\"></span>risk are set out<span class=\"_ _1\"></span> in the Financial<span class=\"_ _1\"></span> policies and pr<span class=\"_ _1\"></span>inciples on pages <span class=\"ls24a\">44 <span class=\"_ _1\"></span><span class=\"ls222\">to <span class=\"ls24a\">46.<span class=\"ls1\"> </span></span></span></span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of these <span class=\"_ _0\"></span>derivatives is<span class=\"_ _0\"></span> a net <span class=\"ls225\">asset</span></span> of <span class=\"ls220\">\u00a356m<span class=\"_ _0\"></span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls220\">63<span class=\"ls233\">m).</span></span></span> <span class=\"ls22e\">Intere<span class=\"_ _0\"></span>st rate swaps w<span class=\"_ _0\"></span>ith </span></span>a <span class=\"ls231\">fair value of <span class=\"ls220\">\u00a3nil <span class=\"ls243\">(202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a3nil) <span class=\"ls221\">have been designated as cash flow hedges under<span class=\"_ _1\"></span> IFRS 9.<span class=\"ls1\"> </span></span></span>The ineffectivene<span class=\"_ _1\"></span>ss recognised in the <span class=\"_ _1\"></span><span class=\"ls226\">consolidated <span class=\"ls1fc\">income st<span class=\"_ _0\"></span>atement on<span class=\"_ _0\"></span> cash flow he<span class=\"_ _0\"></span>dges in the y<span class=\"_ _0\"></span>ear ended <span class=\"_ _0\"></span>31 March </span></span>202<span class=\"ls1\">6 <span class=\"ls236\">was <span class=\"ls220\">\u00a3nil</span></span> <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5: <span class=\"ls220\">\u00a3nil).<span class=\"_ _216\"> </span></span></span>The cash flows occur<span class=\"_ _1\"></span> and are charged to prof<span class=\"_ _1\"></span>it and loss until<span class=\"_ _1\"></span> the maturity of t<span class=\"_ _1\"></span>he hedged debt. The tabl<span class=\"_ _1\"></span>e below summarises variable rate debt hedged at 31 March.<span class=\"ls1\"> </span>Variable rat<span class=\"_ _0\"></span>e debt hedged <span class=\"ls1\"> </span><table class=\"s w1b9 h187\" id=\"_e72ed649-3703-4eb5-8d79-b2927ac7e025\"><tr><td></td><td class=\"c x35e y37c1 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x35f y37c1 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x360 y37c2 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x361 y37c2 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y37c3 w1ba h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls204 ws1\">Outstanding<span class=\"_ _1\"></span>:<span class=\"_ _216\"> </span></div><div class=\"t m0 x362 hfb y3476 ff3f fsba fc4 sc0 ls1e6 ws1\">at one year<span class=\"_ _216\"> </span></div></td><td class=\"c x32c y364f w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">1,570<span class=\"ls1\"> </span></div></td><td class=\"c x363 y364f w58 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls208 ws1\">2,020<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x364 y3650 w5e hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\"> <span class=\"ls1e6\">at two years</span> </div></td><td class=\"c x32c y3650 w24 hfd\"><div class=\"t m0 x178 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">1,450<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3650 w58 hfd\"><div class=\"t m0 x1a6 hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">1,670<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x364 y3651 w5e hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\"> <span class=\"ls1e6\">at five years</span> </div></td><td class=\"c x32c y3651 w24 hfe\"><div class=\"t m0 x19a hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">850<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3651 w58 hfe\"><div class=\"t m0 x19a hfb y28d7 ff3f fsba fc4 sc0 ls1e0 ws1\">950<span class=\"ls1\"> </span></div></td></tr></table>Fair value hedged debt<span class=\"ls1\"> </span>The Group uses inter<span class=\"_ _1\"></span>est rate swaps to hedge <span class=\"_ _1\"></span>exposure on fixed rat<span class=\"_ _1\"></span>e financial li<span class=\"_ _1\"></span>abilities caused <span class=\"_ _1\"></span>by movements in market rates of <span class=\"ls1fc\">interest.<span class=\"ls1\"> </span></span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of these <span class=\"_ _0\"></span>derivatives is<span class=\"_ _0\"></span> a net <span class=\"ls1fc\">liability</span></span> <span class=\"ls220\">of</span> <span class=\"ls220\">\u00a333m<span class=\"_ _0\"></span></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls221\">net <span class=\"ls1fc\">liabilit<span class=\"_ _0\"></span>y</span></span></span> <span class=\"ls220\">of</span> \u00a339<span class=\"ls233\">m). Intere<span class=\"_ _1\"></span>st </span></span>rate<span class=\"ls1\"> <span class=\"ls224\">swaps with a fair value <span class=\"ls225\">asset</span></span> <span class=\"ls220\">of </span>\u00a37m <span class=\"ls221\">have been designated as fair value hedges under IFRS <span class=\"_ _1\"></span>9 (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls225\">asset</span></span> </span></span></span>of<span class=\"ls1\"> \u00a38<span class=\"ls233\">m).</span> </span>The cross<span class=\"ls1\">-<span class=\"ls226\">currency swaps of the 2025/2026 US Private Pl<span class=\"_ _1\"></span>acements fully hedge the foreign exchange exposure at an </span></span>average floating rate <span class=\"ls220\">of<span class=\"ls1\"> <span class=\"ls22f\">174</span> <span class=\"ls234\">basis poi<span class=\"_ _1\"></span>nts above SONIA. These ha<span class=\"_ _1\"></span><span class=\"ls223\">ve been designated as fair value <span class=\"_ _1\"></span>hedges of the US </span></span></span></span>Private Placements<span class=\"_ _1\"></span>.<span class=\"ls1\"> </span>Interest rate profile<span class=\"_ _1\"></span> <span class=\"ls1\">\u2013 <span class=\"ls240\">including effect o<span class=\"_ _1\"></span>f derivatives<span class=\"ls1\"> </span></span></span><table class=\"s w18e h188\" id=\"_d68be6d8-ca81-4c37-b0a7-b53200ea9528\"><tr><td></td><td class=\"c x32d y37c4 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37c4 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37c5 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37c5 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37c6 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls214 ws1\">Fixed or capped rate<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c6 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c6 w24 hfd\"><div class=\"t m0 x1a7 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y37c7 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">2,797<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c7 w24 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">2,647<span class=\"ls1\"> </span></div></td></tr></table>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6 <span class=\"ls222\">the weighted ave<span class=\"_ _0\"></span>rage interest rate of the Sterling fixed rate d<span class=\"_ _0\"></span>ebt is </span>4.4<span class=\"ls276\">% (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 4.</span>3<span class=\"ls276\">%). </span></span>The<span class=\"ls1\"> <span class=\"ls236\">weighted a<span class=\"_ _1\"></span>verage peri<span class=\"_ _1\"></span>od for whi<span class=\"_ _1\"></span>ch the r<span class=\"_ _1\"></span>ate is f<span class=\"_ _1\"></span>ixed is <span class=\"_ _1\"></span><span class=\"ls221\">5.5<span class=\"ls1\"> <span class=\"ls223\">years (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span></span>5.5<span class=\"ls1\"> <span class=\"ls223\">years). </span> </span></span></span></span>Sensitivity table <span class=\"ls1\">\u2013 <span class=\"ls22a\">mark<span class=\"_ _0\"></span>et rate <span class=\"_ _0\"></span>movements</span> </span><table class=\"s w1bb h189\" id=\"_44474e93-d210-4e9c-818a-3ec7adb535d1\"><tr><td></td><td class=\"c x1fb y37c8 w3e hf8\"><div class=\"t m0 x1aa hf9 y2933 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y37c8 w3e hf8\"><div class=\"t m0 x1 hf9 y2933 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x1fb y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3e fsb9 fc11 sc0 ls284 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3d fsb9 fc4 sc0 ls287 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ca w5f hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>interest <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 x18b hff y2db7 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x9f hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37ca w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37ca w24 hfe\"><div class=\"t m0 x1c1 hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(100)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ca w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ca w24 hfe\"><div class=\"t m0 x196 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(100)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37cb w5f hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on und<span class=\"_ _0\"></span>erlying annual pro<span class=\"_ _0\"></span>fit (\u00a3m)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x365 y37cb w24 hfd\"><div class=\"t m0 x16e hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y37cc w5f hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>medium and lo<span class=\"_ _1\"></span>ng term swap <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 xb3 hff y2f4b ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x2 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37cc w24 hfd\"><div class=\"t m0 x1a3 hfb y2c1d ff42 fsba fc11 sc0 ls1e9 ws1\">421<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cc w24 hfd\"><div class=\"t m0 x19b hfb y2c1d ff42 fsba fc11 sc0 ls1da ws1\">(421)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cc w24 hfd\"><div class=\"t m0 x19d hfb y2c1d ff3f fsba fc4 sc0 ls1d8 ws1\">424<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cc w24 hfd\"><div class=\"t m0 x1c1 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(424)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y374b w1bc h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on cas<span class=\"_ _0\"></span>h flow hedge an<span class=\"_ _0\"></span>d <span class=\"ls1dd\">non<span class=\"ls1\">-</span>hedge accounted derivative<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w1bd h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls272 ws1\">valuations<span class=\"ls1\"> <span class=\"ls1db\">(\u00a3m)<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x1fb y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">154<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cd w24 h102\"><div class=\"t m0 x19b hfb y28e8 ff42 fsba fc11 sc0 ls1da ws1\">(137)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">164<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cd w24 h102\"><div class=\"t m0 x19d hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(185)<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The movement used for sensitivity <span class=\"_ _1\"></span>analysis <span class=\"ls1f9\">is <span class=\"ls1f4\">a 1% change in interest rates. <span class=\"ls1\"> </span></span></span></span></span>2.<span class=\"ls1\"> <span class=\"ls1fb\">This movement used for sensi<span class=\"_ _1\"></span>tivity analysis represents the <span class=\"_ _1\"></span>largest annual change in the <span class=\"ls202\">seven<span class=\"ls1\">-<span class=\"ls1fe\">year Sterli<span class=\"_ _1\"></span>ng swap rate over the last </span></span></span></span></span>10<span class=\"ls1\"> <span class=\"ls1fa\">years.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span>Foreign currency risk <span class=\"_ _0\"></span>management<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>The Group\u2019s policy <span class=\"_ _1\"></span>is to have no materi<span class=\"_ _1\"></span>al unhedged net assets <span class=\"_ _1\"></span>or liabiliti<span class=\"_ _1\"></span>es denominated in forei<span class=\"_ _1\"></span>gn currencies. The<span class=\"_ _216\"> </span> currency risk on overseas in<span class=\"ls223\">vestments <span class=\"_ _1\"></span>may be hedged via foreign currency denominated borrowings <span class=\"_ _1\"></span>and derivatives.<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span>The Group has adopted net<span class=\"_ _1\"></span> investment hedging in a<span class=\"_ _1\"></span>ccordance with IFRS 9 and t<span class=\"_ _1\"></span>herefore the portion <span class=\"_ _1\"></span>of the gain or los<span class=\"_ _1\"></span>s<span class=\"_ _216\"> </span> on any hedging inst<span class=\"_ _1\"></span>rument that is determined <span class=\"_ _1\"></span>to be an <span class=\"ls223\">effective hedge i<span class=\"_ _1\"></span>s recognised directly in equi<span class=\"_ _1\"></span>ty. The ineffective<span class=\"_ _216\"> </span></span><span class=\"ls223\"> </span>portion of the <span class=\"_ _1\"></span>gain or loss on a<span class=\"_ _1\"></span>ny hedging instrument i<span class=\"_ _1\"></span>s recognised immediatel<span class=\"_ _1\"></span>y in the income st<span class=\"_ _1\"></span>atement.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>The table below shows <span class=\"_ _1\"></span>the carrying amounts of <span class=\"_ _1\"></span>the Group\u2019s foreign cur<span class=\"_ _1\"></span>rency denominate<span class=\"ls234\">d assets and <span class=\"_ _1\"></span>liabilities.<span class=\"_ _216\"> </span></span><span class=\"ls234\"><span class=\"_ _1\"></span> </span>Provided contingent<span class=\"_ _1\"></span> tax on overseas inv<span class=\"_ _1\"></span>estments is not expect<span class=\"_ _1\"></span>ed to occur it wil<span class=\"_ _1\"></span>l be ignored for <span class=\"_ _1\"></span>hedging purposes.<span class=\"_ _216\"> </span> Based on the <span class=\"_ _1\"></span>31<span class=\"ls1\"> <span class=\"ls230\">March 202</span>6 <span class=\"ls234\">position</span>, <span class=\"ls225\">a 28% appreciati<span class=\"_ _1\"></span>on (largest annual change over the last<span class=\"_ _1\"></span> 10 years) in the USD<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls225\"> </span></span>re<span class=\"ls1fc\">lative to St<span class=\"_ _0\"></span>erling would<span class=\"_ _0\"></span> result in a <span class=\"ls220\">\u00a3nil<span class=\"ls1\"> <span class=\"ls226\">change (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"_ _0\"></span>\u00a3</span>1m<span class=\"ls243\">) in reported profits.</span></span></span></span><span class=\"ls1fc\"><span class=\"ls220\"><span class=\"ls1\"> </span></span></span><table class=\"s w1be h18a\" id=\"_bb31086f-2714-485e-a904-74f3766b31d0\"><tr><td></td><td class=\"c x349 y37ce w3e hfe\"><div class=\"t m0 x1a4 hf9 y2914 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Assets<span class=\"_ _216\"> </span></div><div class=\"t m0 x24 hfc y2ed6 ff41 fsbb fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 xe7 hf9 y2914 ff3d fsb9 fc4 sc0 ls1 ws1\"> </div></td><td></td><td class=\"c x366 y37ce w3e hfe\"><div class=\"t m0 x19e hf9 y2914 ff3d fsb9 fc4 sc0 ls235 ws1\">Liabilities<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x367 y37cf w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x368 y37cf w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x369 y37cf w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x36a y37cf w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x347 y37d0 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37d0 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x36b y37d0 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x36c y37d0 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3543 w61 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1e2 ws1\">USD denominated<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">35 </div></td><td class=\"c x366 y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">33<span class=\"ls1\"> </span></div></td><td class=\"c x36d y3543 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">33 </div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The USD denominated asset of \u00a3<span class=\"ls203\">32<span class=\"ls1f5\">m <span class=\"ls1fc\">(202</span></span></span></span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a33</span>5<span class=\"ls1f5\">m) <span class=\"ls1f9\">is an other</span></span> <span class=\"ls1f9\">investmen<span class=\"_ _0\"></span>t accounted for as fair v<span class=\"_ _0\"></span>alue through profit of lo<span class=\"_ _0\"></span>ss<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1f9\"> </span></span>as<span class=\"ls1\"> <span class=\"ls1f2\">disclosed in Note 12. The <span class=\"_ _1\"></span>remaining \u00a3<span class=\"ls200\">nil<span class=\"ls1\"> <span class=\"ls1fc\">(202</span>4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>6<span class=\"ls1f5\">m) <span class=\"ls1fb\">other investment accounted for as fai<span class=\"_ _1\"></span>r value through profit or loss<span class=\"_ _216\"> </span></span></span></span></span></span></span><span class=\"ls1\"><span class=\"ls1f2\"><span class=\"ls200\"><span class=\"ls1\"><span class=\"ls1f5\"><span class=\"ls1fb\"> </span></span></span></span></span></span>is<span class=\"ls1\"> a <span class=\"ls1f0\">Sterling</span> <span class=\"ls1f2\">denominated other investment.<span class=\"_ _216\"> </span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-487": {
   "value": "Sensitivity table <span class=\"ls1\">\u2013 <span class=\"ls22a\">mark<span class=\"_ _0\"></span>et rate <span class=\"_ _0\"></span>movements</span> </span><table class=\"s w1bb h189\" id=\"_44474e93-d210-4e9c-818a-3ec7adb535d1\"><tr><td></td><td class=\"c x1fb y37c8 w3e hf8\"><div class=\"t m0 x1aa hf9 y2933 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td class=\"c x1fc y37c8 w3e hf8\"><div class=\"t m0 x1 hf9 y2933 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x1fb y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3e fsb9 fc11 sc0 ls284 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37c9 w24 hf8\"><div class=\"t m0 x1ac hf9 y28e6 ff3d fsb9 fc4 sc0 ls287 ws1\">Increase<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37c9 w24 hf8\"><div class=\"t m0 x1b2 hf9 y28e6 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Decrease<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ca w5f hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>interest <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 x18b hff y2db7 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x9f hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37ca w24 hfe\"><div class=\"t m0 x19a hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37ca w24 hfe\"><div class=\"t m0 x1c1 hfb y28f3 ff42 fsba fc11 sc0 ls1da ws1\">(100)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ca w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ca w24 hfe\"><div class=\"t m0 x196 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(100)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37cb w5f hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on und<span class=\"_ _0\"></span>erlying annual pro<span class=\"_ _0\"></span>fit (\u00a3m)<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x365 y37cb w24 hfd\"><div class=\"t m0 x16e hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37cb w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y37cc w5f hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls20b ws1\">Movement in <span class=\"_ _1\"></span>medium and lo<span class=\"_ _1\"></span>ng term swap <span class=\"_ _1\"></span>rates (bps)<span class=\"_ _216\"> </span></div><div class=\"t m0 xb3 hff y2f4b ff44 fsbc fc4 sc0 ls1 ws1\">2</div><div class=\"t m0 x2 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fb y37cc w24 hfd\"><div class=\"t m0 x1a3 hfb y2c1d ff42 fsba fc11 sc0 ls1e9 ws1\">421<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cc w24 hfd\"><div class=\"t m0 x19b hfb y2c1d ff42 fsba fc11 sc0 ls1da ws1\">(421)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cc w24 hfd\"><div class=\"t m0 x19d hfb y2c1d ff3f fsba fc4 sc0 ls1d8 ws1\">424<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cc w24 hfd\"><div class=\"t m0 x1c1 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(424)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y374b w1bc h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d5 ws1\">Impact on cas<span class=\"_ _0\"></span>h flow hedge an<span class=\"_ _0\"></span>d <span class=\"ls1dd\">non<span class=\"ls1\">-</span>hedge accounted derivative<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w1bd h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls272 ws1\">valuations<span class=\"ls1\"> <span class=\"ls1db\">(\u00a3m)<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x1fb y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">154<span class=\"ls1\"> </span></div></td><td class=\"c x365 y37cd w24 h102\"><div class=\"t m0 x19b hfb y28e8 ff42 fsba fc11 sc0 ls1da ws1\">(137)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cd w24 h102\"><div class=\"t m0 x1a3 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">164<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cd w24 h102\"><div class=\"t m0 x19d hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(185)<span class=\"ls1\"> </span></div></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1fb\">The movement used for sensitivity <span class=\"_ _1\"></span>analysis <span class=\"ls1f9\">is <span class=\"ls1f4\">a 1% change in interest rates. <span class=\"ls1\"> </span></span></span></span></span>2.<span class=\"ls1\"> <span class=\"ls1fb\">This movement used for sensi<span class=\"_ _1\"></span>tivity analysis represents the <span class=\"_ _1\"></span>largest annual change in the <span class=\"ls202\">seven<span class=\"ls1\">-<span class=\"ls1fe\">year Sterli<span class=\"_ _1\"></span>ng swap rate over the last </span></span></span></span></span>10<span class=\"ls1\"> <span class=\"ls1fa\">years.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:SensitivityAnalysisForEachTypeOfMarketRisk",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-483": {
   "value": "Credit ris<span class=\"_ _0\"></span>k management<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>The Group\u2019s approach t<span class=\"_ _1\"></span>o credit risk management of<span class=\"_ _1\"></span> counterparties is<span class=\"_ _1\"></span> referred to in Fi<span class=\"_ _1\"></span>nancial policies<span class=\"_ _1\"></span> and principles on<span class=\"_ _216\"> </span> pages <span class=\"ls24a\">44 <span class=\"ls222\">to </span>46<span class=\"ls1\"> <span class=\"ls225\">and the risks addressed <span class=\"_ _1\"></span>within Managing risk in deliveri<span class=\"_ _1\"></span>ng our strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58. <span class=\"ls220\">The ca<span class=\"_ _1\"></span>rrying<span class=\"_ _216\"> </span></span></span></span></span></span></span></span><span class=\"ls24a\"><span class=\"ls1\"><span class=\"ls225\"><span class=\"ls24a\"><span class=\"ls222\"><span class=\"ls221\"><span class=\"ls220\"> </span></span></span></span></span></span></span>amount of financ<span class=\"ls1fc\">ial assets record<span class=\"_ _0\"></span>ed in the fina<span class=\"_ _0\"></span>ncial statem<span class=\"_ _0\"></span>ents represe<span class=\"_ _0\"></span>nts the Grou<span class=\"_ _0\"></span>p\u2019s maximu<span class=\"_ _0\"></span>m exposu<span class=\"_ _0\"></span>re to credit ris<span class=\"_ _0\"></span>k<span class=\"_ _216\"> </span></span><span class=\"ls1fc\"> </span>without <span class=\"_ _1\"></span>taking acc<span class=\"_ _1\"></span>ount of t<span class=\"_ _1\"></span>he value <span class=\"_ _1\"></span>of any col<span class=\"_ _1\"></span>lateral <span class=\"_ _1\"></span>obtained.<span class=\"_ _216\"> </span><span class=\"_ _1\"></span><span class=\"ls1\"> </span>Banks and fi<span class=\"_ _1\"></span>nancial insti<span class=\"_ _1\"></span>tutions<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Cash and cash<span class=\"_ _1\"></span> equivalents <span class=\"_ _1\"></span>at 31 March 2<span class=\"_ _1\"></span>02<span class=\"ls1\">6 <span class=\"ls225\">amounted to \u00a3<span class=\"ls22f\">176<span class=\"ls233\">m (202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">57<span class=\"ls233\">m). Cash an<span class=\"_ _1\"></span>d cash e<span class=\"_ _1\"></span>quivalen<span class=\"_ _1\"></span>ts were<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"><span class=\"ls26a\"><span class=\"ls221\"><span class=\"ls233\"> </span></span></span></span>placed with fi<span class=\"_ _1\"></span>nancial instit<span class=\"_ _1\"></span>utions with BBB+ or bet<span class=\"_ _1\"></span>ter credit rati<span class=\"_ _1\"></span>ngs.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, the fair va<span class=\"_ _0\"></span>lue of all intere<span class=\"_ _0\"></span>st rate deriv<span class=\"_ _0\"></span>ative assets<span class=\"_ _0\"></span> was \u00a3<span class=\"ls220\">68<span class=\"ls233\">m (202</span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls93\">82<span class=\"ls233\">m).<span class=\"_ _216\"> </span></span></span></span></span><span class=\"ls1\"> </span>At<span class=\"ls1\"> <span class=\"ls221\">31 March 202</span>6<span class=\"ls235\">, prior to tak<span class=\"_ _0\"></span>ing into acco<span class=\"_ _0\"></span>unt any off<span class=\"_ _0\"></span>set arrange<span class=\"_ _0\"></span>ments, the la<span class=\"_ _0\"></span>rgest com<span class=\"_ _0\"></span>bined credit<span class=\"_ _0\"></span> exposure t<span class=\"_ _0\"></span>o a single<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls235\"> </span></span>counterparty arising from money market deposits, <span class=\"_ _1\"></span>liquid investments and derivatives was \u00a3<span class=\"ls220\">68<span class=\"ls233\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls24a\">42</span></span></span>m). This<span class=\"_ _216\"> </span></span></span><span class=\"ls220\"><span class=\"ls233\"><span class=\"_ _1\"></span> </span></span>represents <span class=\"ls1\">0.7<span class=\"_ _0\"></span><span class=\"ls276\">% <span class=\"ls243\">(202</span></span>4/25<span class=\"ls26a\">: 0<span class=\"_ _0\"></span>.</span>5<span class=\"ls276\">%) of gro<span class=\"_ _1\"></span>ss assets.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls276\"><span class=\"_ _1\"></span><span class=\"ls1\"> </span></span></span>The deposit exposures<span class=\"_ _1\"></span> are with UK banks and UK <span class=\"_ _1\"></span>branches of internati<span class=\"_ _1\"></span>onal banks.<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Trade debtors<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Trade debtors are <span class=\"_ _1\"></span>presented net of provi<span class=\"_ _1\"></span>sions for impairment f<span class=\"_ _1\"></span>or expected credit l<span class=\"_ _1\"></span>osses. Expected credit<span class=\"_ _1\"></span> losses are<span class=\"_ _216\"> </span> calculated on initi<span class=\"ls225\">al <span class=\"_ _1\"></span>recognition of trade debtors and subsequently <span class=\"_ _1\"></span>in accordance with IFRS 9, taking into <span class=\"_ _1\"></span>account<span class=\"_ _216\"> </span></span><span class=\"ls225\"> </span>historic and forward<span class=\"ls1\">-<span class=\"ls1fc\">looking informatio<span class=\"_ _0\"></span>n. </span></span><span class=\"ls1\"> </span>Tenant incentives<span class=\"_ _216\"> </span><span class=\"ls1\"> </span>Tenant incentives <span class=\"_ _1\"></span>and the associated tena<span class=\"_ _1\"></span>nt incentive provisi<span class=\"_ _1\"></span>ons for impairment for<span class=\"_ _1\"></span> expected credit<span class=\"ls1\"> <span class=\"ls1fc\">losses are bot<span class=\"_ _0\"></span>h<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1fc\"> </span></span>recognised within investm<span class=\"_ _0\"></span>ent property.<span class=\"ls1\"> <span class=\"ls24a\">Expected credit losses a<span class=\"_ _1\"></span>re calculated on i<span class=\"_ _1\"></span>nitial recogni<span class=\"_ _1\"></span>tion of tenant i<span class=\"_ _1\"></span>ncentives<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls24a\"> </span></span>and subsequently in accordance with I<span class=\"_ _1\"></span>FRS 9, taking into account historic <span class=\"_ _1\"></span>and forward<span class=\"ls1\">-<span class=\"ls1fc\">looking<span class=\"_ _0\"></span> information<span class=\"_ _0\"></span>.<span class=\"_ _216\"> </span></span></span><span class=\"ls1\"><span class=\"ls1fc\"> </span></span><span class=\"ls1\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-484": {
   "value": "Liquidity risk management<span class=\"ls1\"> </span>The Group\u2019s approach t<span class=\"_ _1\"></span>o liquidity ri<span class=\"_ _1\"></span>sk management is discussed i<span class=\"_ _1\"></span>n Financial polic<span class=\"_ _1\"></span>ies and principles<span class=\"_ _1\"></span> on pages <span class=\"ls24a\">44 <span class=\"ls222\">to </span>46<span class=\"ls235\">, </span></span>and the risks addressed within <span class=\"_ _1\"></span>Managing risk in delivering our <span class=\"_ _1\"></span>strategy on pages <span class=\"ls24a\">47 <span class=\"ls222\">to <span class=\"ls221\">58<span class=\"ls1\">. </span></span></span></span>The fol<span class=\"ls1fc\">lowing table pr<span class=\"_ _0\"></span>esents a ma<span class=\"_ _0\"></span>turity profile o<span class=\"_ _0\"></span>f the contrac<span class=\"_ _0\"></span>ted undisco<span class=\"_ _0\"></span>unted cash<span class=\"_ _0\"></span> flows of finan<span class=\"_ _0\"></span>cial liabilities ba<span class=\"_ _0\"></span>sed on </span>the earliest date on which th<span class=\"_ _0\"></span>e Group can be required to<span class=\"_ _0\"></span> pay. The table includes both inte<span class=\"_ _0\"></span>rest and principal flows. Where the interest payab<span class=\"ls1fc\">le is n<span class=\"_ _0\"></span>ot fixed, the a<span class=\"_ _0\"></span>mount disc<span class=\"_ _0\"></span>losed has be<span class=\"_ _0\"></span>en determ<span class=\"_ _0\"></span>ined by refer<span class=\"_ _0\"></span>ence to the p<span class=\"_ _0\"></span>rojected inte<span class=\"_ _0\"></span>rest rates </span>implied by<span class=\"_ _0\"></span> yield curves a<span class=\"_ _0\"></span>t the report<span class=\"_ _0\"></span>ing date. For<span class=\"_ _0\"></span> derivative fina<span class=\"_ _0\"></span>ncial instrum<span class=\"_ _0\"></span>ents that set<span class=\"_ _0\"></span>tle on a net ba<span class=\"_ _0\"></span>sis (e.g. intere<span class=\"_ _0\"></span>st<span class=\"ls1\"> </span>rate swaps) the undisco<span class=\"_ _0\"></span>unte<span class=\"ls234\">d net cash flows <span class=\"_ _1\"></span>are shown and for deri<span class=\"_ _1\"></span>vatives that requi<span class=\"_ _1\"></span>re gross settlement<span class=\"_ _1\"></span> (e.g. cross<span class=\"ls1\">-<span class=\"_ _216\"> </span></span></span>currency swaps) the undiscounted gross cash flows ar<span class=\"_ _1\"></span>e presented. Where payment obligations are in forei<span class=\"_ _1\"></span>gn currencies, the spot exchange ra<span class=\"_ _0\"></span>te ruling at the balance sheet date is use<span class=\"_ _0\"></span>d. Trade creditors which are rep<span class=\"_ _0\"></span>ayable within one year have been excluded from the anal<span class=\"_ _1\"></span>ysis.<span class=\"ls1\"> </span>The Group expects to <span class=\"_ _1\"></span>meet its financial<span class=\"_ _1\"></span> liabilities<span class=\"_ _1\"></span> through the various a<span class=\"_ _1\"></span>vailable liquidi<span class=\"_ _1\"></span>ty sources, incl<span class=\"_ _1\"></span>uding a secure renta<span class=\"ls1fc\">l </span>income p<span class=\"_ _0\"></span>rofile, asset s<span class=\"ls225\">ales, undrawn committed borrowing facilities and, in <span class=\"_ _1\"></span>the longer term, debt refinancings.<span class=\"ls1\"> </span></span>The future aggregate <span class=\"_ _1\"></span>minimum rentals receivabl<span class=\"_ _1\"></span>e under non<span class=\"ls1\">-<span class=\"ls226\">cancellable operating leases are <span class=\"_ _1\"></span>shown in the table on the </span></span>following page. Inc<span class=\"_ _0\"></span>ome from joint ventu<span class=\"_ _0\"></span>res is not <span class=\"ls1fc\">included. A<span class=\"_ _0\"></span>dditional liqu<span class=\"_ _0\"></span>idity will arise fr<span class=\"_ _0\"></span>om letting sp<span class=\"_ _0\"></span>ace in prop<span class=\"_ _0\"></span>erties </span>under construction as <span class=\"_ _1\"></span>well as from distributi<span class=\"_ _1\"></span>ons received from joint vent<span class=\"_ _1\"></span>ures.<span class=\"ls1\"> </span><table class=\"s w1c6 h18c\" id=\"_8b357a62-86fb-4076-905b-c366aab196b6\"><tr><td></td><td></td><td></td><td class=\"c x21d y37de w3c hf8\"><div class=\"t m0 x185 hf9 y28e1 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x372 y37df w1c7 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls2a0 ws1\">Within one<span class=\"_ _216\"> </span></div></td><td class=\"c x373 y37df w1c8 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Following<span class=\"_ _216\"> </span></div></td><td class=\"c x24c y37df w1c9 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Three to five<span class=\"_ _216\"> </span></div></td><td class=\"c x374 y37df w1ca h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls27e ws1\">Over five<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x375 y37e0 w1cb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x376 y37e0 w1cb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x377 y37e0 w1cc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x378 y37e0 w1cc h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y37e0 w8a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x346 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37e1 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e2 w3c hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls1\">d<span class=\"ls208\">ebt<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x16e hff y2f06 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x13a hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x21d y37e2 w24 hfd\"><div class=\"t m0 x19a hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">525<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e2 w24 hfd\"><div class=\"t m0 x19d hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">254<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e2 w24 hfd\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1df ws1\">1,536<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e2 w24 hfd\"><div class=\"t m0 x1a3 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">701<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e2 w24 hfd\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1dd ws1\">3,016<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e3 w3c hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest on deb<span class=\"_ _0\"></span>t<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e3 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">137<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e3 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">120<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">267<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1df ws1\">109<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e3 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1eb ws1\">633<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e4 w3c hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e4 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">56<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e4 w24 hfd\"><div class=\"t m0 x1a4 hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">13<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e4 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e4 w24 hfd\"><div class=\"t m0 x1ad hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e4 w24 hfd\"><div class=\"t m0 x19a hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">106<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e5 w3c hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">Lease liability payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e5 w24 hfe\"><div class=\"t m0 x1aa hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x349 y37e5 w24 hfe\"><div class=\"t m0 x1ad hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e5 w24 hfe\"><div class=\"t m0 x1a2 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">313<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e5 w24 hfe\"><div class=\"t m0 x19d hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">360<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e6 w3c hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">Total payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e6 w24 hfd\"><div class=\"t m0 x19a hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">727<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e6 w24 hfd\"><div class=\"t m0 x19a hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e6 w24 hfd\"><div class=\"t m0 x178 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">1,854<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e6 w24 hfd\"><div class=\"t m0 x1c1 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">1,137<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e6 w24 hfd\"><div class=\"t m0 x1a6 hfb y297c ff42 fsba fc11 sc0 ls1e9 ws1\">4,115<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e7 w3c hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>receipts<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(91)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(12)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e7 w24 hfe\"><div class=\"t m0 x19e hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(17)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e7 w24 hfe\"><div class=\"t m0 x1a4 hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(2)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e7 w24 hfe\"><div class=\"t m0 x19b hfb y2967 ff42 fsba fc11 sc0 ls1da ws1\">(122)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e8 w3c hfe\"><div class=\"t m0 x0 hfb y293b ff42 fsba fc4 sc0 ls1e1 ws1\">Net <span class=\"ls1d8\">payment</span><span class=\"ls1d8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x21d y37e8 w24 hfe\"><div class=\"t m0 x19d hfb y293b ff42 fsba fc11 sc0 ls1eb ws1\">636<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e8 w24 hfe\"><div class=\"t m0 x19a hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">385<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e8 w24 hfe\"><div class=\"t m0 x1b0 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">1,837<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e8 w24 hfe\"><div class=\"t m0 x1a6 hfb y293b ff42 fsba fc11 sc0 ls1df ws1\">1,135<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e8 w24 hfe\"><div class=\"t m0 x1a7 hfb y293b ff42 fsba fc11 sc0 ls1dd ws1\">3,993<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37e9 w3c hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>leases wit<span class=\"_ _1\"></span>h tenants<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">324<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">284<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37e9 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">555<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37e9 w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff42 fsba fc11 sc0 ls1eb ws1\">604<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37e9 w24 hfd\"><div class=\"t m0 x1b0 hfb y2928 ff42 fsba fc11 sc0 ls1df ws1\">1,767<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37ea w3c hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">Liquidity deficit<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37ea w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(312)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37ea w24 hfe\"><div class=\"t m0 x19d hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(101)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37ea w24 hfe\"><div class=\"t m0 x198 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(1,282)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ea w24 hfe\"><div class=\"t m0 x19b hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(531)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ea w24 hfe\"><div class=\"t m0 x1ae hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(2.226)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37eb w3c hfd\"><div class=\"t m0 x0 hfb y28dd ff42 fsba fc4 sc0 ls1d9 ws1\">Cumulative liqui<span class=\"_ _1\"></span>dity deficit<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37eb w24 hfd\"><div class=\"t m0 x19b hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(312)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37eb w24 hfd\"><div class=\"t m0 x196 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(413)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37eb w24 hfd\"><div class=\"t m0 x194 hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(1,695)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37eb w24 hfd\"><div class=\"t m0 x1ae hfb y28dd ff42 fsba fc11 sc0 ls1da ws1\">(2,226)<span class=\"ls1\"> </span></div></td><td></td></tr></table><table class=\"s w1bf h18b\" id=\"_4f410174-0369-4ca8-81d4-3b9c8eefacd2\"><tr><td></td><td></td><td></td><td class=\"c x21d y37d1 w3c hf8\"><div class=\"t m0 x185 hf9 y2935 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x36e y37d2 w1c0 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls28e ws1\">Within one<span class=\"_ _216\"> </span></div></td><td class=\"c x35a y37d2 w1c1 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Following<span class=\"_ _216\"> </span></div></td><td class=\"c x36f y37d2 w1c2 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Three to <span class=\"ls288\">five<span class=\"_ _216\"> </span></span></div></td><td class=\"c x230 y37d2 w1c3 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls27e ws1\">Over five<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x2f5 y37d3 w1c4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x370 y37d3 w1c4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">year<span class=\"_ _216\"> </span></div></td><td class=\"c x371 y37d3 w1c5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x32d y37d3 w1c5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">years<span class=\"_ _216\"> </span></div></td><td class=\"c x1f1 y37d3 wcf h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x346 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x347 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37d4 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d5 w3c hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls20a ws1\">Gross <span class=\"ls1\">d<span class=\"ls208\">ebt<span class=\"_ _216\"> </span></span></span></div><div class=\"t m0 x16e hff y2ed7 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x13a hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x21d y37d5 w24 hfe\"><div class=\"t m0 x19a hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">337<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d5 w24 hfe\"><div class=\"t m0 x1a3 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">105<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d5 w24 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">1,374<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d5 w24 hfe\"><div class=\"t m0 x19a hfb y28e6 ff3f fsba fc4 sc0 ls1e0 ws1\">937<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d5 w24 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls208 ws1\">2,753<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d6 w3c hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls1d5 ws1\">Interest on deb<span class=\"_ _0\"></span>t<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d6 w24 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">129<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d6 w24 hfd\"><div class=\"t m0 x192 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">110<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d6 w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1ea ws1\">272<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d6 w24 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">195<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d6 w24 hfd\"><div class=\"t m0 x19d hfb y28e8 ff3f fsba fc4 sc0 ls208 ws1\">706<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d7 w3c hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d7 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d7 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">66<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d7 w24 hfe\"><div class=\"t m0 x8f hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">31<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d7 w24 hfe\"><div class=\"t m0 x1a4 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">14<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d7 w24 hfe\"><div class=\"t m0 x19d hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">204<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d8 w3c hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">Lease liability payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d8 w24 hfd\"><div class=\"t m0 x1aa hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x349 y37d8 w24 hfd\"><div class=\"t m0 x1a4 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d8 w24 hfd\"><div class=\"t m0 x192 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d8 w24 hfd\"><div class=\"t m0 x19e hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">319<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d8 w24 hfd\"><div class=\"t m0 x19a hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">368<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37d9 w3c hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">Total payments<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37d9 w24 hfe\"><div class=\"t m0 x19a hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">568<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37d9 w24 hfe\"><div class=\"t m0 x19e hfb y2912 ff3f fsba fc4 sc0 ls1ea ws1\">291<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,707<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,465<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37d9 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1d8 ws1\">4,031<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37da w3c hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls20a ws1\">Derivative <span class=\"_ _1\"></span>receipts<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37da w24 hfd\"><div class=\"t m0 x1a3 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(117)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37da w24 hfd\"><div class=\"t m0 x192 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(81)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37da w24 hfd\"><div class=\"t m0 x192 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(18)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37da w24 hfd\"><div class=\"t m0 x1ad hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(4)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37da w24 hfd\"><div class=\"t m0 x1c1 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(220)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37db w3c hfe\"><div class=\"t m0 x0 hfb y2943 ff42 fsba fc4 sc0 ls1e1 ws1\">Net payment<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37db w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1d8 ws1\">451<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37db w24 hfe\"><div class=\"t m0 x1a3 hfb y2943 ff3f fsba fc4 sc0 ls1ea ws1\">210<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37db w24 hfe\"><div class=\"t m0 x1b0 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,689<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37db w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,461<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37db w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">3,811<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37dc w3c hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>leases wit<span class=\"_ _1\"></span>h tenants<span class=\"ls1\"> </span></div></td><td class=\"c x21d y37dc w24 hfe\"><div class=\"t m0 x19d hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">307<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37dc w24 hfe\"><div class=\"t m0 x19e hfb y28d5 ff3f fsba fc4 sc0 ls1ea ws1\">271<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37dc w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">583<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37dc w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">584<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37dc w24 hfe\"><div class=\"t m0 x1a6 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">1,745<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37dd w3c hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">Liquidity (deficit) <span class=\"_ _1\"></span><span class=\"ls1e3\">surplus<span class=\"ls1\"> </span></span></div></td><td class=\"c x21d y37dd w24 hfe\"><div class=\"t m0 x19b hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(144)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y37dd w24 hfe\"><div class=\"t m0 x1a4 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y37dd w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(1,106)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37dd w24 hfe\"><div class=\"t m0 x196 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(877)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37dd w24 hfe\"><div class=\"t m0 x1ae hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(2,066)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3543 w3c hfd\"><div class=\"t m0 x0 hfb y28e3 ff42 fsba fc4 sc0 ls1d9 ws1\">Cumulative liqui<span class=\"_ _1\"></span>dity <span class=\"ls1d8\">deficit</span><span class=\"ls1d8\"><span class=\"ls1\">  </span></span></div></td><td class=\"c x21d y3543 w24 hfd\"><div class=\"t m0 x19b hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(144)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3543 w24 hfd\"><div class=\"t m0 x1a3 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(83)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3543 w24 hfd\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(1,189)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3543 w24 hfd\"><div class=\"t m0 x199 hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(2,066)<span class=\"ls1\"> </span></div></td><td></td></tr></table>1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1ff\">Gross debt of \u00a3<span class=\"ls1fe\">2,996<span class=\"ls1f5\">m <span class=\"_ _1\"></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2,728</span></span></span>m) represents<span class=\"_ _1\"></span> the <span class=\"ls1f3\">total of <span class=\"ls1\">\u00a3<span class=\"ls203\">3,016</span></span></span>m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3<span class=\"ls1fe\">2,753</span></span></span>m), le<span class=\"_ _1\"></span>ss unamortise<span class=\"_ _1\"></span>d issue cost<span class=\"_ _1\"></span>s of <span class=\"ls1\">\u00a3<span class=\"ls1fd\">14</span></span>m </span></span></span></span>(202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: \u00a3</span>17<span class=\"ls1f5\">m), less fair v<span class=\"_ _1\"></span>alue adjustme<span class=\"_ _1\"></span>nts to debt o<span class=\"_ _1\"></span>f <span class=\"ls1\">\u00a36</span>m (202<span class=\"ls1\">4<span class=\"ls1f6\">/2</span>5<span class=\"ls1f7\">: </span>\u00a38</span>m).<span class=\"_ _216\"> </span></span></span>Any <span class=\"ls224\">short term liquidity gap between the net payments required and the rentals receivable can be met through other </span>liquidity sou<span class=\"_ _0\"></span>rces availab<span class=\"_ _0\"></span>le to the Grou<span class=\"_ _0\"></span>p, such as co<span class=\"_ _0\"></span>mmitted u<span class=\"_ _0\"></span>ndrawn bo<span class=\"_ _0\"></span>rrowing fac<span class=\"_ _0\"></span>ilities<span class=\"ls1\"> <span class=\"ls220\">of </span>\u00a31,4<span class=\"ls221\">56</span>m<span class=\"_ _0\"></span><span class=\"fc13\"> </span><span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls22f\">1,7<span class=\"_ _0\"></span>75<span class=\"ls233\">m) </span></span></span></span>and<span class=\"ls1\"> <span class=\"ls226\">cash and cash equivale<span class=\"ls221\">nts of \u00a3<span class=\"ls22f\">176<span class=\"ls233\">m <span class=\"ls243\">(202</span></span></span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">57<span class=\"ls233\">m)</span></span></span>, <span class=\"ls220\">of which \u00a3<span class=\"ls22f\">131<span class=\"ls233\">m <span class=\"ls243\">(202</span></span></span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span>\u00a3<span class=\"ls268\">21<span class=\"ls233\">m) <span class=\"ls1fc\">is not subje<span class=\"_ _0\"></span>ct to a secur<span class=\"_ _0\"></span>ity </span></span></span></span>interest. <span class=\"ls1ec\">As a result,<span class=\"_ _1\"></span> the Group h<span class=\"_ _1\"></span>as no requi<span class=\"_ _1\"></span>rement to re<span class=\"_ _1\"></span>finance unti<span class=\"_ _1\"></span>l <span class=\"ls223\">early 2029<span class=\"ls235\">. <span class=\"ls249\">Further li<span class=\"_ _1\"></span>quidity can be achi<span class=\"_ _1\"></span>eved </span></span></span></span>through sales of prope<span class=\"_ _0\"></span>rty assets or <span class=\"ls1fc\">investme<span class=\"_ _0\"></span>nts and finan<span class=\"_ _0\"></span>cing activity.<span class=\"ls1\"> </span></span>The Group\u2019s property <span class=\"_ _1\"></span>portfolio is val<span class=\"_ _1\"></span>ued externally at <span class=\"_ _1\"></span>\u00a3<span class=\"ls1\">6,<span class=\"ls221\">316<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3</span></span>6,065<span class=\"ls233\">m) and th<span class=\"_ _1\"></span>e share <span class=\"_ _1\"></span>of joi<span class=\"_ _1\"></span>nt vent<span class=\"_ _1\"></span>ures\u2019 </span>property is val<span class=\"_ _1\"></span>ued <span class=\"ls225\">at \u00a3<span class=\"ls1\">3,<span class=\"ls268\">746<span class=\"ls233\">m (202</span></span>4<span class=\"ls269\">/2</span>5: \u00a3<span class=\"ls221\">3,421<span class=\"ls233\">m). The <span class=\"_ _1\"></span>committe<span class=\"_ _1\"></span>d undrawn <span class=\"_ _1\"></span>borrowi<span class=\"_ _1\"></span>ng faci<span class=\"_ _1\"></span>lities<span class=\"_ _1\"></span> availa<span class=\"_ _1\"></span>ble to<span class=\"ls1\"> <span class=\"ls222\">the Group </span></span></span></span></span></span>are a further source of <span class=\"_ _1\"></span>liquidity. The maturity profi<span class=\"_ _1\"></span>le of committed undrawn borrowing faciliti<span class=\"_ _1\"></span>es is shown below.<span class=\"ls1\"> </span>Maturity <span class=\"_ _0\"></span>of committe<span class=\"_ _0\"></span>d undrawn b<span class=\"_ _0\"></span>orrowing f<span class=\"_ _0\"></span>acilitie<span class=\"_ _0\"></span>s<span class=\"ls1\"> </span><table class=\"s w1cd h18d\" id=\"_7a3826f5-abfd-4def-9f90-beb8911c6446\"><tr><td></td><td class=\"c x200 y37ec w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37ec w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37ed w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37ed wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1fe y37ee w1ce h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls20b ws1\">Maturity <span class=\"_ _1\"></span>date:<span class=\"_ _216\"> </span></div><div class=\"t m0 x379 hfb y3476 ff3f fsba fc4 sc0 ls1e0 ws1\">over five years<span class=\"_ _216\"> </span></div></td><td class=\"c x1fc y37ef w24 hfd\"><div class=\"t m0 x19d hfb y28f7 ff42 fsba fc11 sc0 ls1d7 ws1\">250<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ef w24 hfd\"><div class=\"t m0 x1a3 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">140<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x37a y37f0 w62 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1eb ws1\">between four and <span class=\"ls1e7\">five years</span><span class=\"ls1e7\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y37f0 w24 hfe\"><div class=\"t m0 x19a hfb y2912 ff42 fsba fc11 sc0 ls1eb ws1\">665<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f0 w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,055<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x37a y37f1 w62 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1eb ws1\">between three and fou<span class=\"_ _1\"></span>r years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f1 w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f1 w24 hfd\"><div class=\"t m0 x1aa hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">6 </div></td></tr><tr><td class=\"c x1f9 y37f2 w25 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e0 ws1\">Total faciliti<span class=\"_ _1\"></span>es available for more <span class=\"_ _1\"></span>than three years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f2 w24 hfe\"><div class=\"t m0 x1a6 hfb y2943 ff42 fsba fc11 sc0 ls1df ws1\">1,15<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f2 w24 hfe\"><div class=\"t m0 x196 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">1,201<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f3 w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">Between two and thr<span class=\"_ _1\"></span>ee years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f3 w24 hfd\"><div class=\"t m0 x1aa hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x1fd y37f3 w24 hfd\"><div class=\"t m0 x1a2 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">24 </div></td></tr><tr><td class=\"c x1f9 y37f4 w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">Between one and two <span class=\"_ _1\"></span>years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f4 w24 hfe\"><div class=\"t m0 x16e hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fd y37f4 w24 hfe\"><div class=\"t m0 x19d hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">450<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f5 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls27a ws1\">Within<span class=\"_ _1\"></span> one ye<span class=\"_ _1\"></span>ar<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f5 w24 hfd\"><div class=\"t m0 x19d hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">302<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f5 w24 hfd\"><div class=\"t m0 x1a3 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">1<span class=\"ls275\">00</span> </div></td></tr><tr><td class=\"c x1f9 y37cd w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37cd w24 hfd\"><div class=\"t m0 x178 hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">1,456<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37cd w24 hfd\"><div class=\"t m0 x1a6 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">1,<span class=\"ls208\">775</span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-440": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs440\">17 <span class=\"_ _23\"> </span><span class=\"ls279\">Leasing</span> </div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls29a ws1 gs441\">Operating l<span class=\"_ _0\"></span>eases with <span class=\"_ _0\"></span>tenants<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs442\">The Group leases out <span class=\"_ _1\"></span>all of its i<span class=\"_ _1\"></span>nvestment properties under<span class=\"_ _1\"></span> operating leases wi<span class=\"_ _1\"></span>th a weighted average l<span class=\"_ _1\"></span>ease length of <span class=\"ls231\">five<span class=\"ls1\"> </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs443\">years (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls231\">five</span></span> </span>years). The future aggregate minimum rentals recei<span class=\"_ _1\"></span>vable under non<span class=\"ls1\">-<span class=\"ls226\">cancella<span class=\"ls234\">ble operating l<span class=\"_ _1\"></span>eases </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs444\">are as follows:<span class=\"ls1\"> </span></div><div class=\"gs445\"><table class=\"s w1cf h18e\" id=\"_ed881648-7060-41d5-9e63-8e667ae4ccbb\"><tr><td></td><td class=\"c x32d y37f6 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37f6 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y37f7 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y37f7 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f8 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">Less than one year<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f8 w24 hfe\"><div class=\"t m0 x19d hfb y28d5 ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\">4</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f8 w24 hfe\"><div class=\"t m0 x19a hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">30<span class=\"ls1\">7</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37f9 w25 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">Between one and two <span class=\"_ _1\"></span>years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37f9 w24 hfd\"><div class=\"t m0 x19d hfb y2be8 ff42 fsba fc11 sc0 ls1d7 ws1\">284<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37f9 w24 hfd\"><div class=\"t m0 x19e hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">271<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37fa w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">Between three and f<span class=\"_ _1\"></span>ive years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37fa w24 hfe\"><div class=\"t m0 x19a hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">555<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37fa w24 hfe\"><div class=\"t m0 x19a hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">583<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37fb w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">Between six and t<span class=\"_ _1\"></span>en years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37fb w24 hfd\"><div class=\"t m0 x19a hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">382<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37fb w24 hfd\"><div class=\"t m0 x19a hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">364<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37fc w25 hfd\"><div class=\"t m0 x0 hfb y2f99 ff3f fsba fc4 sc0 ls1d6 ws1\">Between eleven and <span class=\"_ _1\"></span>fifteen years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37fc w24 hfd\"><div class=\"t m0 x1a3 hfb y2f99 ff42 fsba fc11 sc0 ls1df ws1\">158<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37fc w24 hfd\"><div class=\"t m0 x1a3 hfb y2f99 ff3f fsba fc4 sc0 ls1dc ws1\">164<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37fd w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1d6 ws1\">Between sixteen an<span class=\"_ _1\"></span>d <span class=\"ls1ee\">twenty years</span><span class=\"ls1ee\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y37fd w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff42 fsba fc11 sc0 ls1e9 ws1\">43<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37fd w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff3f fsba fc4 sc0 ls1d8 ws1\">48<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y37fe w25 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1e1 ws1\">After twenty<span class=\"_ _1\"></span> years<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37fe w24 hfd\"><div class=\"t m0 x1a4 hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37fe w24 hfd\"><div class=\"t m0 x1 hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td class=\"c x1f9 y37ff w25 hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y37ff w24 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">1,767<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y37ff w24 hfe\"><div class=\"t m0 x1a6 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,745<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls282 ws1 gs447\">Lease commitments<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24b ws1 gs448\">Lease liabilit<span class=\"_ _1\"></span>ies are payable in li<span class=\"_ _1\"></span>ne with the disclosure <span class=\"_ _1\"></span>below and no contingent rents were <span class=\"_ _1\"></span>payable in either <span class=\"ls223\">year<span class=\"ls235\">. </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs449\">The<span class=\"ls1\"> <span class=\"ls1fc\">lease pay<span class=\"_ _0\"></span>ments main<span class=\"_ _0\"></span>ly relate to he<span class=\"_ _0\"></span>ad leases w<span class=\"_ _0\"></span>here the Gro<span class=\"_ _0\"></span>up does no<span class=\"_ _0\"></span>t own the fre<span class=\"_ _0\"></span>ehold of a pr<span class=\"_ _0\"></span>operty.</span> </span></div><div class=\"gs44a\"><table class=\"s w18c h18f\" id=\"_f4c3cee3-25d0-4e34-a966-6c7951ed224c\"><tr><td></td><td></td><td class=\"c x1e5 y3800 w22 hf8\"><div class=\"t m0 x163 hf9 y2923 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y3800 w22 hf8\"><div class=\"t m0 x163 hf9 y2923 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x37b y3801 w1d0 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls218 ws1\">Minimum<span class=\"_ _216\"> </span></div></td><td></td><td></td><td class=\"c x37c y3801 w1d1 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls218 ws1\">Minimum<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x37d y3802 w1d2 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls287 ws1\">lease<span class=\"_ _216\"> </span></div></td><td></td><td></td><td class=\"c x368 y3802 w1d3 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls219 ws1\">lease<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x334 y3803 w1d4 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls26c ws1\">paymen<span class=\"ls271\">ts</span></div></td><td class=\"c x37e y3804 w1d5 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls284 ws1\">Interest</div></td><td class=\"c x37f y3804 w1d6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls215 ws1\">Principal</div></td><td class=\"c x337 y3803 w1d7 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">payments</div></td><td class=\"c x22a y3804 w1d8 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls287 ws1\">Interest</div></td><td class=\"c x22b y3804 w1d9 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">Principal<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x1f3 y3805 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f4 y3805 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f5 y3805 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f6 y3805 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y3805 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3805 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3806 w33 hfd\"><div class=\"t m0 x0 hfb y28dd ff42 fsba fc4 sc0 ls1d6 ws1\">British Land Gro<span class=\"_ _1\"></span>up<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3807 w33 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">Less than one year<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3807 w24 hfe\"><div class=\"t m0 x1aa hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x1fa y3807 w24 hfe\"><div class=\"t m0 x1aa hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fb y3807 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">7 </div></td><td class=\"c x1e6 y3807 w24 hfe\"><div class=\"t m0 x1aa hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">9 </div></td><td class=\"c x1fc y3807 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3807 w24 hfe\"><div class=\"t m0 x1 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">7 </div></td></tr><tr><td class=\"c x1f9 y3808 w33 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">Between one and two <span class=\"_ _1\"></span>years<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3808 w24 hfd\"><div class=\"t m0 x1ad hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3808 w24 hfd\"><div class=\"t m0 x1aa hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fb y3808 w24 hfd\"><div class=\"t m0 x1 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">8 </div></td><td class=\"c x1e6 y3808 w24 hfd\"><div class=\"t m0 x1a4 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3808 w24 hfd\"><div class=\"t m0 x1 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td><td class=\"c x1fd y3808 w24 hfd\"><div class=\"t m0 x1 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td></tr><tr><td class=\"c x1f9 y3809 w33 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">Between two and fi<span class=\"_ _1\"></span>ve years<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3809 w24 hfe\"><div class=\"t m0 x1a2 hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">28<span class=\"ls1\"> </span></div></td><td class=\"c x1fa y3809 w24 hfe\"><div class=\"t m0 x1aa hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">8 </div></td><td class=\"c x1fb y3809 w24 hfe\"><div class=\"t m0 x192 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">20 </div></td><td class=\"c x1e6 y3809 w24 hfe\"><div class=\"t m0 x192 hfb y28fc ff3f fsba fc4 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3809 w24 hfe\"><div class=\"t m0 x1aa hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">8 </div></td><td class=\"c x1fd y3809 w24 hfe\"><div class=\"t m0 x1ad hfb y28fc ff3f fsba fc4 sc0 ls208 ws1\">22<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y380a w33 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls20b ws1\">More than <span class=\"_ _1\"></span>five years<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y380a w24 hfd\"><div class=\"t m0 x1a3 hfb y292f ff42 fsba fc11 sc0 ls1dd ws1\">31<span class=\"ls1\">3</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fa y380a w24 hfd\"><div class=\"t m0 x19a hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">23<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fb y380a w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">74 </div></td><td class=\"c x1e6 y380a w24 hfd\"><div class=\"t m0 x1a3 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">319<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y380a w24 hfd\"><div class=\"t m0 x19a hfb y292f ff3f fsba fc4 sc0 ls1ea ws1\">242<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y380a w24 hfd\"><div class=\"t m0 x1ad hfb y292f ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y380b w33 hfd\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y380b w24 hfd\"><div class=\"t m0 x19d hfb y28e8 ff42 fsba fc11 sc0 ls1 ws1\">3<span class=\"ls1eb\">60</span> </div></td><td class=\"c x1fa y380b w24 hfd\"><div class=\"t m0 x1a3 hfb y28e8 ff42 fsba fc11 sc0 ls1d7 ws1\">25<span class=\"ls1\">1</span><span class=\"ls1\"> </span></div></td><td class=\"c x1fb y380b w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y380b w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1dd ws1\">368<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y380b w24 hfd\"><div class=\"t m0 x19a hfb y28e8 ff3f fsba fc4 sc0 ls1ea ws1\">254<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y380b w24 hfd\"><div class=\"t m0 x192 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">114<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y380c w33 hfd\"><div class=\"t m0 x0 hfb y298b ff3f fsba fc4 sc0 ls1dd ws1\">Less future finance charges<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y380c w24 hfd\"><div class=\"t m0 x19b hfb y298b ff42 fsba fc11 sc0 ls1da ws1\">(25<span class=\"ls1\">1</span><span class=\"ls1\">) </span></div></td><td></td><td></td><td class=\"c x1e6 y380c w24 hfd\"><div class=\"t m0 x1c1 hfb y298b ff3f fsba fc4 sc0 ls1db ws1\">(254)<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3608 w33 hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls1eb ws1\">Present value of <span class=\"_ _1\"></span>lease obligations<span class=\"ls1\"> </span></div></td><td class=\"c x1e5 y3608 w24 hfe\"><div class=\"t m0 x19a hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\">9</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x1e6 y3608 w24 hfe\"><div class=\"t m0 x192 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">114<span class=\"ls1\"> </span></div></td><td></td><td></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-18": {
   "value": "0.108",
   "decimals": 4,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00",
    "unit": "iso4217:GBP/xbrli:shares"
   }
  },
  "fact-441": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls283 ws1 gs455\">19<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls279\">Share capital and reserves</span> </span></div><div class=\"gs243\"><table class=\"s w1e2 h191\" id=\"_b7abd9b6-e092-45cc-8efc-ae11e9c9bc82\"><tr><td></td><td class=\"c x201 y3820 w4e hfe\"><div class=\"t m0 x16e hf9 y2914 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3820 w41 hfe\"><div class=\"t m0 x16e hf9 y2914 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3821 w26 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1e1 ws1\">Number of ordi<span class=\"_ _1\"></span>nary shares i<span class=\"_ _1\"></span>n issue at 1<span class=\"_ _1\"></span> April<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3821 w4e hfe\"><div class=\"t m0 x1bb hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">1,010,420,504<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3821 w41 hfe\"><div class=\"t m0 x1b8 hfb y28d7 ff3f fsba fc4 sc0 ls1e0 ws1\">938,764,023<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3822 w26 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1ed ws1\">Share issues<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3822 w4e hfd\"><div class=\"t m0 x19d hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">741,109<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3822 w41 hfd\"><div class=\"t m0 x1ae hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">71,656,481<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3823 w26 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls1e1 ws1\">Number of ordi<span class=\"_ _1\"></span>nary shares i<span class=\"_ _1\"></span>n issue a<span class=\"ls1e8\">t 31 March</span><span class=\"ls1e8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x201 y3823 w4e hfd\"><div class=\"t m0 x1ca hfb y28ef ff42 fsba fc11 sc0 ls1df ws1\">1,011,161,613<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3823 w41 hfd\"><div class=\"t m0 x1ba hfb y28ef ff3f fsba fc4 sc0 ls1dc ws1\">1,010,420,504<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls248 ws1 gs456\">Of the <span class=\"_ _1\"></span>issued 25p <span class=\"_ _1\"></span>ordinary <span class=\"_ _1\"></span>shares, <span class=\"ls221\">ni<span class=\"_ _1\"></span>l<span class=\"ls1\"> <span class=\"ls224\">shares were held in the ESOP trust (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span></span>nil<span class=\"ls243\">), <span class=\"ls22f\">11<span class=\"ls1\">,<span class=\"ls268\">266</span>,<span class=\"ls268\">245</span> <span class=\"ls224\">sh<span class=\"_ _0\"></span>ares were held as </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs457\">treasury shares (202<span class=\"ls1\">4<span class=\"_ _0\"></span><span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 11,266,24<span class=\"_ _0\"></span>5) and <span class=\"ls220\">99</span></span>9,<span class=\"ls93\">89</span>5<span class=\"_ _0\"></span>,<span class=\"ls221\">368</span> <span class=\"ls224\">shares were in free issue (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls220\">999,154,259<span class=\"ls243\">). <span class=\"ls1ec\">No</span></span></span></span> </span>treasury </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs458\">shares were acquired by the ESOP trust during the year. All issued shares are fully paid. <span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls22e ws1 gs459\">In the prior ye<span class=\"_ _0\"></span>ar, o<span class=\"ls221\">n <span class=\"ls268\">2 October 2024,<span class=\"ls1\"> <span class=\"ls222\">the Company anno<span class=\"_ _0\"></span>unced </span>a <span class=\"ls224\">share <span class=\"ls234\">placing<span class=\"ls235\">, retail offe<span class=\"_ _0\"></span>r and </span></span>subscription</span> <span class=\"ls220\">of </span></span>71,227,309<span class=\"fc13 ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs45a\">ordinary shares <span class=\"_ _1\"></span>of <span class=\"ls268\">25<span class=\"ls234\">p each at a pric<span class=\"_ _1\"></span>e of <span class=\"ls24a\">422<span class=\"ls1\">p </span></span>per share. <span class=\"ls220\">The Company ra<span class=\"_ _1\"></span>ised gross proceeds of <span class=\"_ _1\"></span>\u00a3301m and net </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs45b\">proceeds of \u00a3295m<span class=\"ls235\">. <span class=\"ls20e\">Consequ<span class=\"_ _1\"></span>ently, the <span class=\"_ _1\"></span>Company\u2019s share ca<span class=\"_ _1\"></span>pital incr<span class=\"_ _1\"></span>eased by \u00a318m and <span class=\"ls224\">share premium<span class=\"ls1\"> <span class=\"ls234\">by \u00a3277m. The </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls221 ws1 gs45c\">new share<span class=\"ls224\">s are fully paid and rank pari passu in all respects with those ordinary shares of the Company in issue prior to </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs45d\">the placing.<span class=\"_ _216\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls21f ws1 gs45e\">Revaluation reser<span class=\"_ _0\"></span>ve<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs45f\">The revaluation r<span class=\"_ _1\"></span>eserve relates to <span class=\"_ _1\"></span>investments in joint<span class=\"_ _1\"></span> ventures. <span class=\"ls22e\">In the current yea<span class=\"_ _0\"></span>r <span class=\"ls222\">to 31 March 202<span class=\"ls1\">6<span class=\"ls235\">, </span>\u00a3<span class=\"_ _0\"></span><span class=\"ls221\">nil</span> <span class=\"ls236\">was </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs460\">transferred from the reva<span class=\"_ _0\"></span>luation reserve to retained earning<span class=\"_ _0\"></span>s (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">nil<span class=\"ls243\">). </span></span></span> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls28b ws1 gs461\">Merger re<span class=\"_ _0\"></span>serve<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs462\">This comprises the <span class=\"_ _1\"></span>premium on the share <span class=\"ls234\">placi<span class=\"_ _1\"></span>ng<span class=\"ls1\"> <span class=\"ls1fc\">in</span> <span class=\"ls222\">the year en<span class=\"_ _0\"></span>ded 31 <span class=\"ls230\">March 201<span class=\"_ _1\"></span>3. No shar<span class=\"_ _1\"></span>e premium <span class=\"ls236\">wa<span class=\"_ _1\"></span><span class=\"ls224\">s recorded in </span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs463\">the Company\u2019s finan<span class=\"_ _0\"></span>cial statements, through the o<span class=\"_ _0\"></span>peration of the merger relief pro<span class=\"_ _0\"></span>visions of the Companies A<span class=\"_ _0\"></span>ct 2006.<span class=\"ls1\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs464\">Share<span class=\"ls1\">-<span class=\"ls241\">based payments</span> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs465\">At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, options o<span class=\"_ _0\"></span>ver </span>1,<span class=\"ls2a1\">049</span>,<span class=\"ls221\">398</span> <span class=\"ls220\">ord<span class=\"ls1fc\">inary<span class=\"_ _0\"></span> shares were<span class=\"_ _0\"></span> outstandin<span class=\"_ _0\"></span>g under em<span class=\"_ _0\"></span>ployee shar<span class=\"_ _0\"></span>e option plan<span class=\"_ _0\"></span>s. </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs466\">The<span class=\"ls1\"> </span>options had a weighted <span class=\"_ _1\"></span>average life of <span class=\"ls1\">2.<span class=\"ls22f\">14</span> <span class=\"ls223\">years. Details <span class=\"_ _1\"></span>of outstanding share options and shar<span class=\"_ _1\"></span>es awarded </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs467\">to<span class=\"ls1\"> <span class=\"ls223\">employees</span>, <span class=\"ls1fc\">includ<span class=\"_ _0\"></span>ing Executiv<span class=\"_ _0\"></span>e Directors</span>, <span class=\"_ _0\"></span><span class=\"ls225\">are set out below and on the f<span class=\"_ _1\"></span>ollow<span class=\"ls1fc\">ing page<span class=\"_ _0\"></span>:<span class=\"ls1\"> </span></span></span></span></div><div class=\"gs468\"><table class=\"s w1e3 h192\" id=\"_2b9ec458-3728-4578-93a0-840145248278\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x385 y3824 w66 hf8\"><div class=\"t m0 x199 hf9 y28d8 ff3d fsb9 fc4 sc0 ls215 ws1\">Exercise dates<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"c x386 y3825 w1e4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">At<span class=\"_ _216\"> </span></div></td><td class=\"c x387 y3826 w1e5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Exercise<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x388 y3827 w1e6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d0 ws1\">At <span class=\"ls2a2\">1 April<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x389 y3827 w1e7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Exercised/<span class=\"_ _216\"> </span></div></td><td class=\"c x38a y3828 w1e8 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Lapsed<span class=\"ls1\">/<span class=\"_ _216\"> </span></span></div></td><td class=\"c x38b y3827 w122 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">31<span class=\"ls1\"> <span class=\"ls218\">March<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x38c y3827 w1e9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">price<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3829 w2e h130\"><div class=\"t m0 x0 hf9 y2942 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Date of grant<span class=\"ls1\"> </span></div></td><td class=\"c x38d y382a w13c h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x31b y3829 w29 h130\"><div class=\"t m0 x1a9 hf9 y2942 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Granted<span class=\"ls1\"> </span></div></td><td class=\"c x38e y382a w1ea h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Vested<span class=\"_ _216\"> </span></div></td><td class=\"c x38f y382a w1eb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Forfeited<span class=\"_ _216\"> </span></div></td><td class=\"c x390 y382a w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x391 y382a w1ec h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls280 ws1\">(pence)<span class=\"_ _216\"> </span></div></td><td class=\"c x385 y3829 w67 h130\"><div class=\"t m0 x198 hf9 y2942 ff3d fsb9 fc4 sc0 ls1d2 ws1\">From<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3829 w68 h130\"><div class=\"t m0 x19a hf9 y2942 ff3d fsb9 fc4 sc0 ls1d2 ws1\">To<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y382b w2e hfe\"><div class=\"t m0 x0 hfb y28ed ff42 fsba fc4 sc0 ls1ed ws1\">Share options Sharesave<span class=\"ls1\"> </span>Scheme<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y382c w2e hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1dc ws1\">18.06.19<span class=\"ls1\"> </span></div></td><td class=\"c x393 y382c w28 hfd\"><div class=\"t m0 x1a5 hfb y28ef ff3f fsba fc4 sc0 ls1e0 ws1\">689<span class=\"ls1\"> </span></div></td><td class=\"c x31b y382c w29 hfd\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y382c w28 hfd\"><div class=\"t m0 x192 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y382c w28 hfd\"><div class=\"t m0 x199 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(689)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y382c w65 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x397 y382c w29 hfd\"><div class=\"t m0 x198 hfb y28ef ff3f fsba fc4 sc0 ls1d8 ws1\">435<span class=\"ls1\"> </span></div></td><td class=\"c x385 y382c w67 hfd\"><div class=\"t m0 x191 hfb y28ef ff3f fsba fc4 sc0 ls275 ws1\">01.09.24<span class=\"ls1\"> </span></div></td><td class=\"c x392 y382c w68 hfd\"><div class=\"t m0 x191 hfb y28ef ff3f fsba fc4 sc0 ls275 ws1\">01.03.25<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y382d w2e hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">07.07.20<span class=\"ls1\"> </span></div></td><td class=\"c x393 y382d w28 hfe\"><div class=\"t m0 x191 hfb y28e1 ff3f fsba fc4 sc0 ls1dc ws1\">145,074<span class=\"ls1\"> </span></div></td><td class=\"c x31b y382d w29 hfe\"><div class=\"t m0 x19e hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y382d w28 hfe\"><div class=\"t m0 x1b1 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(123,485)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y382d w28 hfe\"><div class=\"t m0 x1a9 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(15,339)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y382d w65 hfe\"><div class=\"t m0 x1a1 hfb y28e1 ff42 fsba fc11 sc0 ls1eb ws1\">6,250<span class=\"ls1\"> </span></div></td><td class=\"c x397 y382d w29 hfe\"><div class=\"t m0 x1a5 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">336<span class=\"ls1\"> </span></div></td><td class=\"c x385 y382d w67 hfe\"><div class=\"t m0 x197 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">01.09.25<span class=\"ls1\"> </span></div></td><td class=\"c x392 y382d w68 hfe\"><div class=\"t m0 x191 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">01.03.26<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y382e w2e hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">06.07.21<span class=\"ls1\"> </span></div></td><td class=\"c x393 y382e w28 hfd\"><div class=\"t m0 x1ab hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">3,998<span class=\"ls1\"> </span></div></td><td class=\"c x31b y382e w29 hfd\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y382e w28 hfd\"><div class=\"t m0 x192 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y382e w28 hfd\"><div class=\"t m0 x1ca hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(3,998)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y382e w65 hfd\"><div class=\"t m0 x1a4 hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x397 y382e w29 hfd\"><div class=\"t m0 x1a7 hfb y28e3 ff3f fsba fc4 sc0 ls1d8 ws1\">414<span class=\"ls1\"> </span></div></td><td class=\"c x385 y382e w67 hfd\"><div class=\"t m0 x191 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">01.09.24<span class=\"ls1\"> </span></div></td><td class=\"c x392 y382e w68 hfd\"><div class=\"t m0 x191 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">01.03.25<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y382f w2e hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">06.07.21<span class=\"ls1\"> </span></div></td><td class=\"c x393 y382f w28 hfe\"><div class=\"t m0 x1ca hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">19,849<span class=\"ls1\"> </span></div></td><td class=\"c x31b y382f w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y382f w28 hfe\"><div class=\"t m0 x192 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y382f w28 hfe\"><div class=\"t m0 x1ab hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(2,173)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y382f w65 hfe\"><div class=\"t m0 x1ab hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">17,676<span class=\"ls1\"> </span></div></td><td class=\"c x397 y382f w29 hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff3f fsba fc4 sc0 ls1d8 ws1\">414<span class=\"ls1\"> </span></div></td><td class=\"c x385 y382f w67 hfe\"><div class=\"t m0 x191 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">01.09.26<span class=\"ls1\"> </span></div></td><td class=\"c x392 y382f w68 hfe\"><div class=\"t m0 x191 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">01.03.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3830 w2e hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls208 ws1\">22.06.22<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3830 w28 hfd\"><div class=\"t m0 x1b8 hfb y28e8 ff3f fsba fc4 sc0 ls1dd ws1\">53,467<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3830 w29 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3830 w28 hfd\"><div class=\"t m0 x192 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y3830 w28 hfd\"><div class=\"t m0 x195 hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(51,331)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3830 w65 hfd\"><div class=\"t m0 x194 hfb y28e8 ff42 fsba fc11 sc0 ls1d7 ws1\">2,136<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3830 w29 hfd\"><div class=\"t m0 x178 hfb y28e8 ff3f fsba fc4 sc0 ls1d8 ws1\">421<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3830 w67 hfd\"><div class=\"t m0 x197 hfb y28e8 ff3f fsba fc4 sc0 ls275 ws1\">01.09.25<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3830 w68 hfd\"><div class=\"t m0 x191 hfb y28e8 ff3f fsba fc4 sc0 ls275 ws1\">01.03.26<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3831 w2e hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">22.06.22<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3831 w28 hfe\"><div class=\"t m0 x1ab hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">6,695<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3831 w29 hfe\"><div class=\"t m0 x19e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3831 w28 hfe\"><div class=\"t m0 x192 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y3831 w28 hfe\"><div class=\"t m0 x19e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x396 y3831 w65 hfe\"><div class=\"t m0 x1a1 hfb y28f5 ff42 fsba fc11 sc0 ls1eb ws1\">6,695<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3831 w29 hfe\"><div class=\"t m0 x178 hfb y28f5 ff3f fsba fc4 sc0 ls1d8 ws1\">421<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3831 w67 hfe\"><div class=\"t m0 x197 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">01.09.27<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3831 w68 hfe\"><div class=\"t m0 x191 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">01.03.28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3832 w2e hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls208 ws1\">21.06.23<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3832 w28 hfd\"><div class=\"t m0 x1b1 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">530,865<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3832 w29 hfd\"><div class=\"t m0 x19e hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3832 w28 hfd\"><div class=\"t m0 x1ca hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(17,312)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3832 w28 hfd\"><div class=\"t m0 x191 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(45,455)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3832 w65 hfd\"><div class=\"t m0 x191 hfb y2c1d ff42 fsba fc11 sc0 ls1e9 ws1\">468,098<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3832 w29 hfd\"><div class=\"t m0 x1a5 hfb y2c1d ff3f fsba fc4 sc0 ls1ea ws1\">287<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3832 w67 hfd\"><div class=\"t m0 x191 hfb y2c1d ff3f fsba fc4 sc0 ls275 ws1\">01.09.26<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3832 w68 hfd\"><div class=\"t m0 x191 hfb y2c1d ff3f fsba fc4 sc0 ls275 ws1\">01.03.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3833 w2e hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">21.06.23<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3833 w28 hfe\"><div class=\"t m0 x197 hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">268,819<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3833 w29 hfe\"><div class=\"t m0 x19e hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3833 w28 hfe\"><div class=\"t m0 x195 hfb y293b ff3f fsba fc4 sc0 ls1db ws1\">(4,80<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x395 y3833 w28 hfe\"><div class=\"t m0 x1a9 hfb y293b ff3f fsba fc4 sc0 ls1db ws1\">(33,341)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3833 w65 hfe\"><div class=\"t m0 x1a9 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">230,671<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3833 w29 hfe\"><div class=\"t m0 x1a5 hfb y293b ff3f fsba fc4 sc0 ls1ea ws1\">287<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3833 w67 hfe\"><div class=\"t m0 x191 hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">01.09.28<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3833 w68 hfe\"><div class=\"t m0 x191 hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">01.03.29<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3834 w2e hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">03.07.24<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3834 w28 hfd\"><div class=\"t m0 x1b8 hfb y29a1 ff3f fsba fc4 sc0 ls1d7 ws1\">88,225<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3834 w29 hfd\"><div class=\"t m0 x19e hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3834 w28 hfd\"><div class=\"t m0 x1cd hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(1,714)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3834 w28 hfd\"><div class=\"t m0 x197 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(28,676)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3834 w65 hfd\"><div class=\"t m0 x1b5 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">57,835<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3834 w29 hfd\"><div class=\"t m0 x1a5 hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">352<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3834 w67 hfd\"><div class=\"t m0 x197 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">01.09.27<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3834 w68 hfd\"><div class=\"t m0 x191 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">01.03.28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3835 w2e hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">03.07.24<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3835 w28 hfe\"><div class=\"t m0 x1b8 hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">54,478<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3835 w29 hfe\"><div class=\"t m0 x19e hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3835 w28 hfe\"><div class=\"t m0 x192 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y3835 w28 hfe\"><div class=\"t m0 x197 hfb y2914 ff3f fsba fc4 sc0 ls1db ws1\">(23,962)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3835 w65 hfe\"><div class=\"t m0 x1ab hfb y2914 ff42 fsba fc11 sc0 ls1dd ws1\">30,516<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3835 w29 hfe\"><div class=\"t m0 x1a5 hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">352<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3835 w67 hfe\"><div class=\"t m0 x191 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">01.09.29<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3835 w68 hfe\"><div class=\"t m0 x191 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">01.03.30<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3836 w2e hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">25.06.25<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3836 w28 hfd\"><div class=\"t m0 x19e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x31b y3836 w29 hfd\"><div class=\"t m0 x197 hfb y292b ff3f fsba fc4 sc0 ls1dc ws1\">135,364<span class=\"ls1\"> </span></div></td><td class=\"c x394 y3836 w28 hfd\"><div class=\"t m0 x1c1 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3836 w28 hfd\"><div class=\"t m0 x195 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(9,489)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3836 w65 hfd\"><div class=\"t m0 x1a9 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">125,844<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3836 w29 hfd\"><div class=\"t m0 x178 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">314<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3836 w67 hfd\"><div class=\"t m0 x191 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">01.09.28<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3836 w68 hfd\"><div class=\"t m0 x191 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">01.03.29<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3837 w2e hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls208 ws1\">25.06.25<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3837 w28 hfe\"><div class=\"t m0 x19e hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x31b y3837 w29 hfe\"><div class=\"t m0 x1a9 hfb y28ed ff3f fsba fc4 sc0 ls1dc ws1\">113,039<span class=\"ls1\"> </span></div></td><td class=\"c x394 y3837 w28 hfe\"><div class=\"t m0 x1c1 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3837 w28 hfe\"><div class=\"t m0 x1b5 hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">9,331)</span> </div></td><td class=\"c x396 y3837 w65 hfe\"><div class=\"t m0 x1a9 hfb y28ed ff42 fsba fc11 sc0 ls1df ws1\">103,6<span class=\"ls1\">77</span><span class=\"ls1\"> </span></div></td><td class=\"c x397 y3837 w29 hfe\"><div class=\"t m0 x178 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">314<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3837 w67 hfe\"><div class=\"t m0 x191 hfb y28ed ff3f fsba fc4 sc0 ls275 ws1\">01.09.30<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3837 w68 hfe\"><div class=\"t m0 x1a9 hfb y28ed ff3f fsba fc4 sc0 ls275 ws1\">01.03.31<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3838 w2e hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3838 w28 hfd\"><div class=\"t m0 x1b1 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">1,172,159<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3838 w29 hfd\"><div class=\"t m0 x1ba hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">248,403<span class=\"ls1\"> </span></div></td><td class=\"c x394 y3838 w28 hfd\"><div class=\"t m0 x1ba hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(147,380)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3838 w28 hfd\"><div class=\"t m0 x1bb hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1ea\">223,784)</span> </div></td><td class=\"c x396 y3838 w65 hfd\"><div class=\"t m0 x19c hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">1,049,398<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3621 w1ed h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls2a3 ws1\">Weighte<span class=\"_ _1\"></span>d avera<span class=\"_ _1\"></span>ge exerc<span class=\"_ _1\"></span>ise pr<span class=\"_ _1\"></span>ice<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w1ee h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1eb ws1\">of<span class=\"ls1\"> </span>options (pence)<span class=\"_ _216\"> </span></div></td><td class=\"c x393 y3839 w28 h102\"><div class=\"t m0 x1c1 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3839 w29 h102\"><div class=\"t m0 x178 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">314<span class=\"ls1\"> </span></div></td><td class=\"c x394 y3839 w28 h102\"><div class=\"t m0 x1a7 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">329<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3839 w28 h102\"><div class=\"t m0 x1a5 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">343<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3839 w65 h102\"><div class=\"t m0 x1b0 hfb y28ed ff42 fsba fc11 sc0 ls1dd ws1\">302<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr></table></div><div class=\"gs33b\"><table class=\"s w1ef h193\" id=\"_2b407a3c-2130-4070-abfd-b8cedd423fe0\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x338 y383a w1f0 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Share price<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x398 y383b w1f1 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">At <span class=\"ls1\">1 </span>April<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x36e y383b w1e7 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">Exercised/<span class=\"_ _216\"> </span></div></td><td class=\"c x399 y383b w1e8 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">Lapsed<span class=\"ls1\">/<span class=\"_ _216\"> </span></span></div></td><td class=\"c x39a y383b w1f2 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">At 31 March<span class=\"_ _216\"> </span></div></td><td class=\"c x24f y383b w1f3 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d5 ws1\">at grant date<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y383c w22 hfa\"><div class=\"t m0 x0 hf9 y28f5 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Date of grant<span class=\"ls1\"> </span></div></td><td class=\"c x33f y383d w13c h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x2e4 y383c w24 hfa\"><div class=\"t m0 x1cd hf9 y28f5 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Granted<span class=\"ls1\"> </span></div></td><td class=\"c x39b y383d w1ea h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Vested<span class=\"_ _216\"> </span></div></td><td class=\"c x39c y383d w1eb h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Forfeited<span class=\"_ _216\"> </span></div></td><td class=\"c x371 y383d w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x39d y383d w1ec h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls280 ws1\">(pence)<span class=\"_ _216\"> </span></div></td><td class=\"c x1fd y383c w24 hfa\"><div class=\"t m0 x19c hf9 y28f5 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Vesting date<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y383e w15 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls1eb ws1\">Performance Shares Long<span class=\"ls1\"> <span class=\"ls1e0\">Term Incenti<span class=\"_ _1\"></span>ve Plan</span></span><span class=\"ls1\"><span class=\"ls1e0\"><span class=\"ls1\"> </span></span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y383f w22 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">19.07.22<span class=\"ls1\"> </span></div></td><td class=\"c x348 y383f w24 hfd\"><div class=\"t m0 x1b8 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">1,160,685<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y383f w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y383f w24 hfd\"><div class=\"t m0 x1a9 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(580,34<span class=\"ls1\">2</span><span class=\"ls1\">) </span></div></td><td class=\"c x349 y383f w24 hfd\"><div class=\"t m0 x1a9 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(580,343)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y383f w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y383f w24 hfd\"><div class=\"t m0 x1cd hfb y28f7 ff3f fsba fc4 sc0 ls1d8 ws1\">470.70<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y383f w24 hfd\"><div class=\"t m0 x1b5 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">19.07.25<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3840 w22 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">15.06.23<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3840 w24 hfe\"><div class=\"t m0 x1b2 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,516,122<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3840 w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3840 w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3840 w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3840 w24 hfe\"><div class=\"t m0 x1b8 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">1,516,122<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3840 w24 hfe\"><div class=\"t m0 x1a1 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">334.70<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3840 w24 hfe\"><div class=\"t m0 x1b2 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">15.06.26<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3841 w22 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls208 ws1\">20.06.24<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3841 w24 hfd\"><div class=\"t m0 x195 hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">1,216,758<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3841 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3841 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3841 w24 hfd\"><div class=\"t m0 x1ca hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(450,101)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3841 w24 hfd\"><div class=\"t m0 x1ca hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">766,657<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3841 w24 hfd\"><div class=\"t m0 x1ae hfb y2928 ff3f fsba fc4 sc0 ls1d8 ws1\">416.60<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3841 w24 hfd\"><div class=\"t m0 x1b8 hfb y2928 ff3f fsba fc4 sc0 ls208 ws1\">20.06.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3842 w22 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">23.06.25<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3842 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2e4 y3842 w24 hfe\"><div class=\"t m0 x1b8 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">1,617,042<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3842 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3842 w24 hfe\"><div class=\"t m0 x1b5 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(515,<span class=\"ls1dc\">160</span><span class=\"ls1dc\">)<span class=\"ls1\"> </span></span></div></td><td class=\"c x1e6 y3842 w24 hfe\"><div class=\"t m0 x1b8 hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">1,101,882<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3842 w24 hfe\"><div class=\"t m0 x1a1 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">379.20<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3842 w24 hfe\"><div class=\"t m0 x195 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">23.06.28<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x348 y3843 w24 hfd\"><div class=\"t m0 x191 hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">3,893,565<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3843 w24 hfd\"><div class=\"t m0 x1b8 hfb y28dd ff3f fsba fc4 sc0 ls1dc ws1\">1,617,042<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3843 w24 hfd\"><div class=\"t m0 x1a9 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(580,342)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3843 w24 hfd\"><div class=\"t m0 x1c2 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(1,545,604)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3843 w24 hfd\"><div class=\"t m0 x191 hfb y28dd ff42 fsba fc11 sc0 ls1dd ws1\">3,384,661<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3844 w22 hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1d6 ws1\">Restricted Share <span class=\"_ _1\"></span>Plan<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3845 w22 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">19.07.22<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3845 w24 hfd\"><div class=\"t m0 x1b2 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">594,796<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3845 w24 hfd\"><div class=\"t m0 x1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3845 w24 hfd\"><div class=\"t m0 x1a9 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(585,930)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3845 w24 hfd\"><div class=\"t m0 x1ae hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(8,866)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3845 w24 hfd\"><div class=\"t m0 x1 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y3845 w24 hfd\"><div class=\"t m0 x1cd hfb y292f ff3f fsba fc4 sc0 ls1d8 ws1\">470.70<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3845 w24 hfd\"><div class=\"t m0 x1b5 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">19.07.25<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3846 w22 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">15.06.23<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3846 w24 hfe\"><div class=\"t m0 x1b2 hfb y28f3 ff3f fsba fc4 sc0 ls208 ws1\">795,624<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3846 w24 hfe\"><div class=\"t m0 x1 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3846 w24 hfe\"><div class=\"t m0 x1 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3846 w24 hfe\"><div class=\"t m0 x1b2 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(65,008)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3846 w24 hfe\"><div class=\"t m0 x1b2 hfb y28f3 ff42 fsba fc11 sc0 ls1dd ws1\">730,616<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3846 w24 hfe\"><div class=\"t m0 x1a1 hfb y28f3 ff3f fsba fc4 sc0 ls1dd ws1\">334.70<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3846 w24 hfe\"><div class=\"t m0 x1b2 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">15.06.26<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3847 w22 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">20.06.24<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3847 w24 hfd\"><div class=\"t m0 x1b2 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">665,589<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3847 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3847 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3847 w24 hfd\"><div class=\"t m0 x1b5 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(65,808)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3847 w24 hfd\"><div class=\"t m0 x1b5 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">599,781<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3847 w24 hfd\"><div class=\"t m0 x1ae hfb y297c ff3f fsba fc4 sc0 ls1d8 ws1\">416.60<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3847 w24 hfd\"><div class=\"t m0 x1b8 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">20.06.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3848 w22 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls275 ws1\">01.08.24<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3848 w24 hfe\"><div class=\"t m0 x1a7 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">11,653<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3848 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3848 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3848 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3848 w24 hfe\"><div class=\"t m0 x198 hfb y2967 ff42 fsba fc11 sc0 ls1df ws1\">11,653<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3848 w24 hfe\"><div class=\"t m0 x198 hfb y2967 ff3f fsba fc4 sc0 ls1d8 ws1\">411.00<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3848 w24 hfe\"><div class=\"t m0 x1b8 hfb y2967 ff3f fsba fc4 sc0 ls208 ws1\">20.06.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3849 w22 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls208 ws1\">23.06.25<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3849 w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2e4 y3849 w24 hfd\"><div class=\"t m0 x1ab hfb y28f7 ff3f fsba fc4 sc0 ls208 ws1\">718,898<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3849 w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3849 w24 hfd\"><div class=\"t m0 x1b5 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(24,602)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3849 w24 hfd\"><div class=\"t m0 x195 hfb y28f7 ff42 fsba fc11 sc0 ls1eb ws1\">694,296<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3849 w24 hfd\"><div class=\"t m0 x1a1 hfb y28f7 ff3f fsba fc4 sc0 ls1dd ws1\">379.20<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3849 w24 hfd\"><div class=\"t m0 x195 hfb y28f7 ff3f fsba fc4 sc0 ls208 ws1\">23.06.28<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x348 y384a w24 hfd\"><div class=\"t m0 x191 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,067,662<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y384a w24 hfd\"><div class=\"t m0 x1ab hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">718,898<span class=\"ls1\"> </span></div></td><td class=\"c x21d y384a w24 hfd\"><div class=\"t m0 x1a9 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(585,930)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y384a w24 hfd\"><div class=\"t m0 x195 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(164,284)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y384a w24 hfd\"><div class=\"t m0 x1ba hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,036,346<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y384b w22 hfd\"><div class=\"t m0 x0 hfb y28dd ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x348 y384b w24 hfd\"><div class=\"t m0 x1a9 hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">5,961,227<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y384b w24 hfd\"><div class=\"t m0 x1b1 hfb y28dd ff3f fsba fc4 sc0 ls1ea ws1\">2,335,940<span class=\"ls1\"> </span></div></td><td class=\"c x21d y384b w24 hfd\"><div class=\"t m0 x197 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(1,166,272)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y384b w24 hfd\"><div class=\"t m0 x1ba hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(1,709,888)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y384b w24 hfd\"><div class=\"t m0 x1b1 hfb y28dd ff42 fsba fc11 sc0 ls1d7 ws1\">5,421,007<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1fe y374b w1f4 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls2a3 ws1\">Weighte<span class=\"_ _1\"></span>d avera<span class=\"_ _1\"></span>ge pric<span class=\"_ _1\"></span>e<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w1f5 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1eb ws1\">of<span class=\"ls1\"> <span class=\"ls289\">shares</span> <span class=\"ls1da\">(pence)<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x348 y384c w24 h102\"><div class=\"t m0 x1a3 hfb y28d7 ff3f fsba fc4 sc0 ls1d8 ws1\">401<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y384c w24 h102\"><div class=\"t m0 x19a hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">379<span class=\"ls1\"> </span></div></td><td class=\"c x21d y384c w24 h102\"><div class=\"t m0 x1a3 hfb y28d7 ff3f fsba fc4 sc0 ls1d8 ws1\">471<span class=\"ls1\"> </span></div></td><td class=\"c x349 y384c w24 h102\"><div class=\"t m0 x19d hfb y28d7 ff3f fsba fc4 sc0 ls1d8 ws1\">420<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y384c w24 h102\"><div class=\"t m0 x19d hfb y28d7 ff42 fsba fc11 sc0 ls1dd ws1\">370<span class=\"ls1\"> </span></div></td><td></td><td></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-463": {
   "value": "19<span class=\"ls1\"> <span class=\"_ _23\"> </span><span class=\"ls279\">Share capital and reserves</span> </span><table class=\"s w1e2 h191\" id=\"_b7abd9b6-e092-45cc-8efc-ae11e9c9bc82\"><tr><td></td><td class=\"c x201 y3820 w4e hfe\"><div class=\"t m0 x16e hf9 y2914 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3820 w41 hfe\"><div class=\"t m0 x16e hf9 y2914 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3821 w26 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1e1 ws1\">Number of ordi<span class=\"_ _1\"></span>nary shares i<span class=\"_ _1\"></span>n issue at 1<span class=\"_ _1\"></span> April<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3821 w4e hfe\"><div class=\"t m0 x1bb hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">1,010,420,504<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3821 w41 hfe\"><div class=\"t m0 x1b8 hfb y28d7 ff3f fsba fc4 sc0 ls1e0 ws1\">938,764,023<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3822 w26 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1ed ws1\">Share issues<span class=\"ls1\"> </span></div></td><td class=\"c x201 y3822 w4e hfd\"><div class=\"t m0 x19d hfb y292b ff42 fsba fc11 sc0 ls1dd ws1\">741,109<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3822 w41 hfd\"><div class=\"t m0 x1ae hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">71,656,481<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3823 w26 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls1e1 ws1\">Number of ordi<span class=\"_ _1\"></span>nary shares i<span class=\"_ _1\"></span>n issue a<span class=\"ls1e8\">t 31 March</span><span class=\"ls1e8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x201 y3823 w4e hfd\"><div class=\"t m0 x1ca hfb y28ef ff42 fsba fc11 sc0 ls1df ws1\">1,011,161,613<span class=\"ls1\"> </span></div></td><td class=\"c x2eb y3823 w41 hfd\"><div class=\"t m0 x1ba hfb y28ef ff3f fsba fc4 sc0 ls1dc ws1\">1,010,420,504<span class=\"ls1\"> </span></div></td></tr></table>Of the <span class=\"_ _1\"></span>issued 25p <span class=\"_ _1\"></span>ordinary <span class=\"_ _1\"></span>shares, <span class=\"ls221\">ni<span class=\"_ _1\"></span>l<span class=\"ls1\"> <span class=\"ls224\">shares were held in the ESOP trust (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: </span></span>nil<span class=\"ls243\">), <span class=\"ls22f\">11<span class=\"ls1\">,<span class=\"ls268\">266</span>,<span class=\"ls268\">245</span> <span class=\"ls224\">sh<span class=\"_ _0\"></span>ares were held as </span></span></span></span></span>treasury shares (202<span class=\"ls1\">4<span class=\"_ _0\"></span><span class=\"ls269\">/2</span>5<span class=\"ls26a\">: 11,266,24<span class=\"_ _0\"></span>5) and <span class=\"ls220\">99</span></span>9,<span class=\"ls93\">89</span>5<span class=\"_ _0\"></span>,<span class=\"ls221\">368</span> <span class=\"ls224\">shares were in free issue (202</span>4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: <span class=\"ls220\">999,154,259<span class=\"ls243\">). <span class=\"ls1ec\">No</span></span></span></span> </span>treasury shares were acquired by the ESOP trust during the year. All issued shares are fully paid. <span class=\"ls1\"> </span>In the prior ye<span class=\"_ _0\"></span>ar, o<span class=\"ls221\">n <span class=\"ls268\">2 October 2024,<span class=\"ls1\"> <span class=\"ls222\">the Company anno<span class=\"_ _0\"></span>unced </span>a <span class=\"ls224\">share <span class=\"ls234\">placing<span class=\"ls235\">, retail offe<span class=\"_ _0\"></span>r and </span></span>subscription</span> <span class=\"ls220\">of </span></span>71,227,309<span class=\"fc13 ls1\"> </span></span></span>ordinary shares <span class=\"_ _1\"></span>of <span class=\"ls268\">25<span class=\"ls234\">p each at a pric<span class=\"_ _1\"></span>e of <span class=\"ls24a\">422<span class=\"ls1\">p </span></span>per share. <span class=\"ls220\">The Company ra<span class=\"_ _1\"></span>ised gross proceeds of <span class=\"_ _1\"></span>\u00a3301m and net </span></span></span>proceeds of \u00a3295m<span class=\"ls235\">. <span class=\"ls20e\">Consequ<span class=\"_ _1\"></span>ently, the <span class=\"_ _1\"></span>Company\u2019s share ca<span class=\"_ _1\"></span>pital incr<span class=\"_ _1\"></span>eased by \u00a318m and <span class=\"ls224\">share premium<span class=\"ls1\"> <span class=\"ls234\">by \u00a3277m. The </span></span></span></span></span>new share<span class=\"ls224\">s are fully paid and rank pari passu in all respects with those ordinary shares of the Company in issue prior to </span>the placing.<span class=\"_ _216\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-464": {
   "value": "Revaluation reser<span class=\"_ _0\"></span>ve<span class=\"ls1\"> </span>The revaluation r<span class=\"_ _1\"></span>eserve relates to <span class=\"_ _1\"></span>investments in joint<span class=\"_ _1\"></span> ventures. <span class=\"ls22e\">In the current yea<span class=\"_ _0\"></span>r <span class=\"ls222\">to 31 March 202<span class=\"ls1\">6<span class=\"ls235\">, </span>\u00a3<span class=\"_ _0\"></span><span class=\"ls221\">nil</span> <span class=\"ls236\">was </span></span></span></span>transferred from the reva<span class=\"_ _0\"></span>luation reserve to retained earning<span class=\"_ _0\"></span>s (202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"ls26a\">: \u00a3<span class=\"ls221\">nil<span class=\"ls243\">). </span></span></span> </span>Merger re<span class=\"_ _0\"></span>serve<span class=\"ls1\"> </span>This comprises the <span class=\"_ _1\"></span>premium on the share <span class=\"ls234\">placi<span class=\"_ _1\"></span>ng<span class=\"ls1\"> <span class=\"ls1fc\">in</span> <span class=\"ls222\">the year en<span class=\"_ _0\"></span>ded 31 <span class=\"ls230\">March 201<span class=\"_ _1\"></span>3. No shar<span class=\"_ _1\"></span>e premium <span class=\"ls236\">wa<span class=\"_ _1\"></span><span class=\"ls224\">s recorded in </span></span></span></span></span></span>the Company\u2019s finan<span class=\"_ _0\"></span>cial statements, through the o<span class=\"_ _0\"></span>peration of the merger relief pro<span class=\"_ _0\"></span>visions of the Companies A<span class=\"_ _0\"></span>ct 2006.<span class=\"ls1\"> </span>Share<span class=\"ls1\">-<span class=\"ls241\">based payments</span> </span>At 31 Mar<span class=\"_ _1\"></span>ch 202<span class=\"ls1\">6<span class=\"ls235\">, options o<span class=\"_ _0\"></span>ver </span>1,<span class=\"ls2a1\">049</span>,<span class=\"ls221\">398</span> <span class=\"ls220\">ord<span class=\"ls1fc\">inary<span class=\"_ _0\"></span> shares were<span class=\"_ _0\"></span> outstandin<span class=\"_ _0\"></span>g under em<span class=\"_ _0\"></span>ployee shar<span class=\"_ _0\"></span>e option plan<span class=\"_ _0\"></span>s. </span></span></span>The<span class=\"ls1\"> </span>options had a weighted <span class=\"_ _1\"></span>average life of <span class=\"ls1\">2.<span class=\"ls22f\">14</span> <span class=\"ls223\">years. Details <span class=\"_ _1\"></span>of outstanding share options and shar<span class=\"_ _1\"></span>es awarded </span></span>to<span class=\"ls1\"> <span class=\"ls223\">employees</span>, <span class=\"ls1fc\">includ<span class=\"_ _0\"></span>ing Executiv<span class=\"_ _0\"></span>e Directors</span>, <span class=\"_ _0\"></span><span class=\"ls225\">are set out below and on the f<span class=\"_ _1\"></span>ollow<span class=\"ls1fc\">ing page<span class=\"_ _0\"></span>:<span class=\"ls1\"> </span></span></span></span><table class=\"s w1e3 h192\" id=\"_2b9ec458-3728-4578-93a0-840145248278\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x385 y3824 w66 hf8\"><div class=\"t m0 x199 hf9 y28d8 ff3d fsb9 fc4 sc0 ls215 ws1\">Exercise dates<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"c x386 y3825 w1e4 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">At<span class=\"_ _216\"> </span></div></td><td class=\"c x387 y3826 w1e5 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Exercise<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"c x388 y3827 w1e6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d0 ws1\">At <span class=\"ls2a2\">1 April<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x389 y3827 w1e7 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Exercised/<span class=\"_ _216\"> </span></div></td><td class=\"c x38a y3828 w1e8 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Lapsed<span class=\"ls1\">/<span class=\"_ _216\"> </span></span></div></td><td class=\"c x38b y3827 w122 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">31<span class=\"ls1\"> <span class=\"ls218\">March<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x38c y3827 w1e9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">price<span class=\"_ _216\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3829 w2e h130\"><div class=\"t m0 x0 hf9 y2942 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Date of grant<span class=\"ls1\"> </span></div></td><td class=\"c x38d y382a w13c h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x31b y3829 w29 h130\"><div class=\"t m0 x1a9 hf9 y2942 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Granted<span class=\"ls1\"> </span></div></td><td class=\"c x38e y382a w1ea h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Vested<span class=\"_ _216\"> </span></div></td><td class=\"c x38f y382a w1eb h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Forfeited<span class=\"_ _216\"> </span></div></td><td class=\"c x390 y382a w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x391 y382a w1ec h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls280 ws1\">(pence)<span class=\"_ _216\"> </span></div></td><td class=\"c x385 y3829 w67 h130\"><div class=\"t m0 x198 hf9 y2942 ff3d fsb9 fc4 sc0 ls1d2 ws1\">From<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3829 w68 h130\"><div class=\"t m0 x19a hf9 y2942 ff3d fsb9 fc4 sc0 ls1d2 ws1\">To<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y382b w2e hfe\"><div class=\"t m0 x0 hfb y28ed ff42 fsba fc4 sc0 ls1ed ws1\">Share options Sharesave<span class=\"ls1\"> </span>Scheme<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y382c w2e hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1dc ws1\">18.06.19<span class=\"ls1\"> </span></div></td><td class=\"c x393 y382c w28 hfd\"><div class=\"t m0 x1a5 hfb y28ef ff3f fsba fc4 sc0 ls1e0 ws1\">689<span class=\"ls1\"> </span></div></td><td class=\"c x31b y382c w29 hfd\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y382c w28 hfd\"><div class=\"t m0 x192 hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y382c w28 hfd\"><div class=\"t m0 x199 hfb y28ef ff3f fsba fc4 sc0 ls1db ws1\">(689)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y382c w65 hfd\"><div class=\"t m0 x1a4 hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x397 y382c w29 hfd\"><div class=\"t m0 x198 hfb y28ef ff3f fsba fc4 sc0 ls1d8 ws1\">435<span class=\"ls1\"> </span></div></td><td class=\"c x385 y382c w67 hfd\"><div class=\"t m0 x191 hfb y28ef ff3f fsba fc4 sc0 ls275 ws1\">01.09.24<span class=\"ls1\"> </span></div></td><td class=\"c x392 y382c w68 hfd\"><div class=\"t m0 x191 hfb y28ef ff3f fsba fc4 sc0 ls275 ws1\">01.03.25<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y382d w2e hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">07.07.20<span class=\"ls1\"> </span></div></td><td class=\"c x393 y382d w28 hfe\"><div class=\"t m0 x191 hfb y28e1 ff3f fsba fc4 sc0 ls1dc ws1\">145,074<span class=\"ls1\"> </span></div></td><td class=\"c x31b y382d w29 hfe\"><div class=\"t m0 x19e hfb y28e1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y382d w28 hfe\"><div class=\"t m0 x1b1 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(123,485)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y382d w28 hfe\"><div class=\"t m0 x1a9 hfb y28e1 ff3f fsba fc4 sc0 ls1db ws1\">(15,339)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y382d w65 hfe\"><div class=\"t m0 x1a1 hfb y28e1 ff42 fsba fc11 sc0 ls1eb ws1\">6,250<span class=\"ls1\"> </span></div></td><td class=\"c x397 y382d w29 hfe\"><div class=\"t m0 x1a5 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">336<span class=\"ls1\"> </span></div></td><td class=\"c x385 y382d w67 hfe\"><div class=\"t m0 x197 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">01.09.25<span class=\"ls1\"> </span></div></td><td class=\"c x392 y382d w68 hfe\"><div class=\"t m0 x191 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">01.03.26<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y382e w2e hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">06.07.21<span class=\"ls1\"> </span></div></td><td class=\"c x393 y382e w28 hfd\"><div class=\"t m0 x1ab hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">3,998<span class=\"ls1\"> </span></div></td><td class=\"c x31b y382e w29 hfd\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y382e w28 hfd\"><div class=\"t m0 x192 hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y382e w28 hfd\"><div class=\"t m0 x1ca hfb y28e3 ff3f fsba fc4 sc0 ls1db ws1\">(3,998)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y382e w65 hfd\"><div class=\"t m0 x1a4 hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x397 y382e w29 hfd\"><div class=\"t m0 x1a7 hfb y28e3 ff3f fsba fc4 sc0 ls1d8 ws1\">414<span class=\"ls1\"> </span></div></td><td class=\"c x385 y382e w67 hfd\"><div class=\"t m0 x191 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">01.09.24<span class=\"ls1\"> </span></div></td><td class=\"c x392 y382e w68 hfd\"><div class=\"t m0 x191 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">01.03.25<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y382f w2e hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">06.07.21<span class=\"ls1\"> </span></div></td><td class=\"c x393 y382f w28 hfe\"><div class=\"t m0 x1ca hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">19,849<span class=\"ls1\"> </span></div></td><td class=\"c x31b y382f w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y382f w28 hfe\"><div class=\"t m0 x192 hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y382f w28 hfe\"><div class=\"t m0 x1ab hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(2,173)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y382f w65 hfe\"><div class=\"t m0 x1ab hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">17,676<span class=\"ls1\"> </span></div></td><td class=\"c x397 y382f w29 hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff3f fsba fc4 sc0 ls1d8 ws1\">414<span class=\"ls1\"> </span></div></td><td class=\"c x385 y382f w67 hfe\"><div class=\"t m0 x191 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">01.09.26<span class=\"ls1\"> </span></div></td><td class=\"c x392 y382f w68 hfe\"><div class=\"t m0 x191 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">01.03.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3830 w2e hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls208 ws1\">22.06.22<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3830 w28 hfd\"><div class=\"t m0 x1b8 hfb y28e8 ff3f fsba fc4 sc0 ls1dd ws1\">53,467<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3830 w29 hfd\"><div class=\"t m0 x19e hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3830 w28 hfd\"><div class=\"t m0 x192 hfb y28e8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y3830 w28 hfd\"><div class=\"t m0 x195 hfb y28e8 ff3f fsba fc4 sc0 ls1db ws1\">(51,331)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3830 w65 hfd\"><div class=\"t m0 x194 hfb y28e8 ff42 fsba fc11 sc0 ls1d7 ws1\">2,136<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3830 w29 hfd\"><div class=\"t m0 x178 hfb y28e8 ff3f fsba fc4 sc0 ls1d8 ws1\">421<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3830 w67 hfd\"><div class=\"t m0 x197 hfb y28e8 ff3f fsba fc4 sc0 ls275 ws1\">01.09.25<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3830 w68 hfd\"><div class=\"t m0 x191 hfb y28e8 ff3f fsba fc4 sc0 ls275 ws1\">01.03.26<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3831 w2e hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">22.06.22<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3831 w28 hfe\"><div class=\"t m0 x1ab hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">6,695<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3831 w29 hfe\"><div class=\"t m0 x19e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3831 w28 hfe\"><div class=\"t m0 x192 hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y3831 w28 hfe\"><div class=\"t m0 x19e hfb y28f5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x396 y3831 w65 hfe\"><div class=\"t m0 x1a1 hfb y28f5 ff42 fsba fc11 sc0 ls1eb ws1\">6,695<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3831 w29 hfe\"><div class=\"t m0 x178 hfb y28f5 ff3f fsba fc4 sc0 ls1d8 ws1\">421<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3831 w67 hfe\"><div class=\"t m0 x197 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">01.09.27<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3831 w68 hfe\"><div class=\"t m0 x191 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">01.03.28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3832 w2e hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls208 ws1\">21.06.23<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3832 w28 hfd\"><div class=\"t m0 x1b1 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">530,865<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3832 w29 hfd\"><div class=\"t m0 x19e hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3832 w28 hfd\"><div class=\"t m0 x1ca hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(17,312)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3832 w28 hfd\"><div class=\"t m0 x191 hfb y2c1d ff3f fsba fc4 sc0 ls1db ws1\">(45,455)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3832 w65 hfd\"><div class=\"t m0 x191 hfb y2c1d ff42 fsba fc11 sc0 ls1e9 ws1\">468,098<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3832 w29 hfd\"><div class=\"t m0 x1a5 hfb y2c1d ff3f fsba fc4 sc0 ls1ea ws1\">287<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3832 w67 hfd\"><div class=\"t m0 x191 hfb y2c1d ff3f fsba fc4 sc0 ls275 ws1\">01.09.26<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3832 w68 hfd\"><div class=\"t m0 x191 hfb y2c1d ff3f fsba fc4 sc0 ls275 ws1\">01.03.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3833 w2e hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">21.06.23<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3833 w28 hfe\"><div class=\"t m0 x197 hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">268,819<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3833 w29 hfe\"><div class=\"t m0 x19e hfb y293b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3833 w28 hfe\"><div class=\"t m0 x195 hfb y293b ff3f fsba fc4 sc0 ls1db ws1\">(4,80<span class=\"ls1\">7</span><span class=\"ls1\">) </span></div></td><td class=\"c x395 y3833 w28 hfe\"><div class=\"t m0 x1a9 hfb y293b ff3f fsba fc4 sc0 ls1db ws1\">(33,341)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3833 w65 hfe\"><div class=\"t m0 x1a9 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">230,671<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3833 w29 hfe\"><div class=\"t m0 x1a5 hfb y293b ff3f fsba fc4 sc0 ls1ea ws1\">287<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3833 w67 hfe\"><div class=\"t m0 x191 hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">01.09.28<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3833 w68 hfe\"><div class=\"t m0 x191 hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">01.03.29<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3834 w2e hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">03.07.24<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3834 w28 hfd\"><div class=\"t m0 x1b8 hfb y29a1 ff3f fsba fc4 sc0 ls1d7 ws1\">88,225<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3834 w29 hfd\"><div class=\"t m0 x19e hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3834 w28 hfd\"><div class=\"t m0 x1cd hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(1,714)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3834 w28 hfd\"><div class=\"t m0 x197 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(28,676)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3834 w65 hfd\"><div class=\"t m0 x1b5 hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">57,835<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3834 w29 hfd\"><div class=\"t m0 x1a5 hfb y29a1 ff3f fsba fc4 sc0 ls1dd ws1\">352<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3834 w67 hfd\"><div class=\"t m0 x197 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">01.09.27<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3834 w68 hfd\"><div class=\"t m0 x191 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">01.03.28<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3835 w2e hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">03.07.24<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3835 w28 hfe\"><div class=\"t m0 x1b8 hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">54,478<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3835 w29 hfe\"><div class=\"t m0 x19e hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x394 y3835 w28 hfe\"><div class=\"t m0 x192 hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x395 y3835 w28 hfe\"><div class=\"t m0 x197 hfb y2914 ff3f fsba fc4 sc0 ls1db ws1\">(23,962)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3835 w65 hfe\"><div class=\"t m0 x1ab hfb y2914 ff42 fsba fc11 sc0 ls1dd ws1\">30,516<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3835 w29 hfe\"><div class=\"t m0 x1a5 hfb y2914 ff3f fsba fc4 sc0 ls1dd ws1\">352<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3835 w67 hfe\"><div class=\"t m0 x191 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">01.09.29<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3835 w68 hfe\"><div class=\"t m0 x191 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">01.03.30<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3836 w2e hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">25.06.25<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3836 w28 hfd\"><div class=\"t m0 x19e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x31b y3836 w29 hfd\"><div class=\"t m0 x197 hfb y292b ff3f fsba fc4 sc0 ls1dc ws1\">135,364<span class=\"ls1\"> </span></div></td><td class=\"c x394 y3836 w28 hfd\"><div class=\"t m0 x1c1 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3836 w28 hfd\"><div class=\"t m0 x195 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(9,489)<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3836 w65 hfd\"><div class=\"t m0 x1a9 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">125,844<span class=\"ls1\"> </span></div></td><td class=\"c x397 y3836 w29 hfd\"><div class=\"t m0 x178 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">314<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3836 w67 hfd\"><div class=\"t m0 x191 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">01.09.28<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3836 w68 hfd\"><div class=\"t m0 x191 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">01.03.29<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3837 w2e hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls208 ws1\">25.06.25<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3837 w28 hfe\"><div class=\"t m0 x19e hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x31b y3837 w29 hfe\"><div class=\"t m0 x1a9 hfb y28ed ff3f fsba fc4 sc0 ls1dc ws1\">113,039<span class=\"ls1\"> </span></div></td><td class=\"c x394 y3837 w28 hfe\"><div class=\"t m0 x1c1 hfb y28ed ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3837 w28 hfe\"><div class=\"t m0 x1b5 hfb y28ed ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1e0\">9,331)</span> </div></td><td class=\"c x396 y3837 w65 hfe\"><div class=\"t m0 x1a9 hfb y28ed ff42 fsba fc11 sc0 ls1df ws1\">103,6<span class=\"ls1\">77</span><span class=\"ls1\"> </span></div></td><td class=\"c x397 y3837 w29 hfe\"><div class=\"t m0 x178 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">314<span class=\"ls1\"> </span></div></td><td class=\"c x385 y3837 w67 hfe\"><div class=\"t m0 x191 hfb y28ed ff3f fsba fc4 sc0 ls275 ws1\">01.09.30<span class=\"ls1\"> </span></div></td><td class=\"c x392 y3837 w68 hfe\"><div class=\"t m0 x1a9 hfb y28ed ff3f fsba fc4 sc0 ls275 ws1\">01.03.31<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3838 w2e hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x393 y3838 w28 hfd\"><div class=\"t m0 x1b1 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">1,172,159<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3838 w29 hfd\"><div class=\"t m0 x1ba hfb y2be8 ff3f fsba fc4 sc0 ls208 ws1\">248,403<span class=\"ls1\"> </span></div></td><td class=\"c x394 y3838 w28 hfd\"><div class=\"t m0 x1ba hfb y2be8 ff3f fsba fc4 sc0 ls1db ws1\">(147,380)<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3838 w28 hfd\"><div class=\"t m0 x1bb hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">(<span class=\"ls1ea\">223,784)</span> </div></td><td class=\"c x396 y3838 w65 hfd\"><div class=\"t m0 x19c hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">1,049,398<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3621 w1ed h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls2a3 ws1\">Weighte<span class=\"_ _1\"></span>d avera<span class=\"_ _1\"></span>ge exerc<span class=\"_ _1\"></span>ise pr<span class=\"_ _1\"></span>ice<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w1ee h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1eb ws1\">of<span class=\"ls1\"> </span>options (pence)<span class=\"_ _216\"> </span></div></td><td class=\"c x393 y3839 w28 h102\"><div class=\"t m0 x1c1 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">311<span class=\"ls1\"> </span></div></td><td class=\"c x31b y3839 w29 h102\"><div class=\"t m0 x178 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">314<span class=\"ls1\"> </span></div></td><td class=\"c x394 y3839 w28 h102\"><div class=\"t m0 x1a7 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">329<span class=\"ls1\"> </span></div></td><td class=\"c x395 y3839 w28 h102\"><div class=\"t m0 x1a5 hfb y28ed ff3f fsba fc4 sc0 ls1dd ws1\">343<span class=\"ls1\"> </span></div></td><td class=\"c x396 y3839 w65 h102\"><div class=\"t m0 x1b0 hfb y28ed ff42 fsba fc11 sc0 ls1dd ws1\">302<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td></tr></table><table class=\"s w1ef h193\" id=\"_2b407a3c-2130-4070-abfd-b8cedd423fe0\"><tr><td></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x338 y383a w1f0 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Share price<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x398 y383b w1f1 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">At <span class=\"ls1\">1 </span>April<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x36e y383b w1e7 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls215 ws1\">Exercised/<span class=\"_ _216\"> </span></div></td><td class=\"c x399 y383b w1e8 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls235 ws1\">Lapsed<span class=\"ls1\">/<span class=\"_ _216\"> </span></span></div></td><td class=\"c x39a y383b w1f2 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d0 ws1\">At 31 March<span class=\"_ _216\"> </span></div></td><td class=\"c x24f y383b w1f3 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d5 ws1\">at grant date<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y383c w22 hfa\"><div class=\"t m0 x0 hf9 y28f5 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Date of grant<span class=\"ls1\"> </span></div></td><td class=\"c x33f y383d w13c h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x2e4 y383c w24 hfa\"><div class=\"t m0 x1cd hf9 y28f5 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Granted<span class=\"ls1\"> </span></div></td><td class=\"c x39b y383d w1ea h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Vested<span class=\"_ _216\"> </span></div></td><td class=\"c x39c y383d w1eb h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">Forfeited<span class=\"_ _216\"> </span></div></td><td class=\"c x371 y383d w94 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x39d y383d w1ec h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls280 ws1\">(pence)<span class=\"_ _216\"> </span></div></td><td class=\"c x1fd y383c w24 hfa\"><div class=\"t m0 x19c hf9 y28f5 ff3d fsb9 fc4 sc0 ls1d1 ws1\">Vesting date<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y383e w15 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls1eb ws1\">Performance Shares Long<span class=\"ls1\"> <span class=\"ls1e0\">Term Incenti<span class=\"_ _1\"></span>ve Plan</span></span><span class=\"ls1\"><span class=\"ls1e0\"><span class=\"ls1\"> </span></span></span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y383f w22 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">19.07.22<span class=\"ls1\"> </span></div></td><td class=\"c x348 y383f w24 hfd\"><div class=\"t m0 x1b8 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">1,160,685<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y383f w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y383f w24 hfd\"><div class=\"t m0 x1a9 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(580,34<span class=\"ls1\">2</span><span class=\"ls1\">) </span></div></td><td class=\"c x349 y383f w24 hfd\"><div class=\"t m0 x1a9 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(580,343)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y383f w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y383f w24 hfd\"><div class=\"t m0 x1cd hfb y28f7 ff3f fsba fc4 sc0 ls1d8 ws1\">470.70<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y383f w24 hfd\"><div class=\"t m0 x1b5 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">19.07.25<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3840 w22 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">15.06.23<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3840 w24 hfe\"><div class=\"t m0 x1b2 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">1,516,122<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3840 w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3840 w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3840 w24 hfe\"><div class=\"t m0 x1 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3840 w24 hfe\"><div class=\"t m0 x1b8 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">1,516,122<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3840 w24 hfe\"><div class=\"t m0 x1a1 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">334.70<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3840 w24 hfe\"><div class=\"t m0 x1b2 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">15.06.26<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3841 w22 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls208 ws1\">20.06.24<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3841 w24 hfd\"><div class=\"t m0 x195 hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">1,216,758<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3841 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3841 w24 hfd\"><div class=\"t m0 x1 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3841 w24 hfd\"><div class=\"t m0 x1ca hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(450,101)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3841 w24 hfd\"><div class=\"t m0 x1ca hfb y2928 ff42 fsba fc11 sc0 ls1dd ws1\">766,657<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3841 w24 hfd\"><div class=\"t m0 x1ae hfb y2928 ff3f fsba fc4 sc0 ls1d8 ws1\">416.60<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3841 w24 hfd\"><div class=\"t m0 x1b8 hfb y2928 ff3f fsba fc4 sc0 ls208 ws1\">20.06.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3842 w22 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">23.06.25<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3842 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2e4 y3842 w24 hfe\"><div class=\"t m0 x1b8 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">1,617,042<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3842 w24 hfe\"><div class=\"t m0 x1 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3842 w24 hfe\"><div class=\"t m0 x1b5 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(515,<span class=\"ls1dc\">160</span><span class=\"ls1dc\">)<span class=\"ls1\"> </span></span></div></td><td class=\"c x1e6 y3842 w24 hfe\"><div class=\"t m0 x1b8 hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">1,101,882<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3842 w24 hfe\"><div class=\"t m0 x1a1 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">379.20<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3842 w24 hfe\"><div class=\"t m0 x195 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">23.06.28<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x348 y3843 w24 hfd\"><div class=\"t m0 x191 hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">3,893,565<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3843 w24 hfd\"><div class=\"t m0 x1b8 hfb y28dd ff3f fsba fc4 sc0 ls1dc ws1\">1,617,042<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3843 w24 hfd\"><div class=\"t m0 x1a9 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(580,342)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3843 w24 hfd\"><div class=\"t m0 x1c2 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(1,545,604)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3843 w24 hfd\"><div class=\"t m0 x191 hfb y28dd ff42 fsba fc11 sc0 ls1dd ws1\">3,384,661<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3844 w22 hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1d6 ws1\">Restricted Share <span class=\"_ _1\"></span>Plan<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3845 w22 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">19.07.22<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3845 w24 hfd\"><div class=\"t m0 x1b2 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">594,796<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3845 w24 hfd\"><div class=\"t m0 x1 hfb y292f ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3845 w24 hfd\"><div class=\"t m0 x1a9 hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(585,930)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y3845 w24 hfd\"><div class=\"t m0 x1ae hfb y292f ff3f fsba fc4 sc0 ls1db ws1\">(8,866)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3845 w24 hfd\"><div class=\"t m0 x1 hfb y292f ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1fc y3845 w24 hfd\"><div class=\"t m0 x1cd hfb y292f ff3f fsba fc4 sc0 ls1d8 ws1\">470.70<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3845 w24 hfd\"><div class=\"t m0 x1b5 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">19.07.25<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3846 w22 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">15.06.23<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3846 w24 hfe\"><div class=\"t m0 x1b2 hfb y28f3 ff3f fsba fc4 sc0 ls208 ws1\">795,624<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3846 w24 hfe\"><div class=\"t m0 x1 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3846 w24 hfe\"><div class=\"t m0 x1 hfb y28f3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3846 w24 hfe\"><div class=\"t m0 x1b2 hfb y28f3 ff3f fsba fc4 sc0 ls1db ws1\">(65,008)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3846 w24 hfe\"><div class=\"t m0 x1b2 hfb y28f3 ff42 fsba fc11 sc0 ls1dd ws1\">730,616<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3846 w24 hfe\"><div class=\"t m0 x1a1 hfb y28f3 ff3f fsba fc4 sc0 ls1dd ws1\">334.70<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3846 w24 hfe\"><div class=\"t m0 x1b2 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">15.06.26<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3847 w22 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">20.06.24<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3847 w24 hfd\"><div class=\"t m0 x1b2 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">665,589<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3847 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3847 w24 hfd\"><div class=\"t m0 x1 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3847 w24 hfd\"><div class=\"t m0 x1b5 hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(65,808)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3847 w24 hfd\"><div class=\"t m0 x1b5 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">599,781<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3847 w24 hfd\"><div class=\"t m0 x1ae hfb y297c ff3f fsba fc4 sc0 ls1d8 ws1\">416.60<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3847 w24 hfd\"><div class=\"t m0 x1b8 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">20.06.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3848 w22 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls275 ws1\">01.08.24<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3848 w24 hfe\"><div class=\"t m0 x1a7 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">11,653<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y3848 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x21d y3848 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3848 w24 hfe\"><div class=\"t m0 x1 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x1e6 y3848 w24 hfe\"><div class=\"t m0 x198 hfb y2967 ff42 fsba fc11 sc0 ls1df ws1\">11,653<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3848 w24 hfe\"><div class=\"t m0 x198 hfb y2967 ff3f fsba fc4 sc0 ls1d8 ws1\">411.00<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3848 w24 hfe\"><div class=\"t m0 x1b8 hfb y2967 ff3f fsba fc4 sc0 ls208 ws1\">20.06.27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3849 w22 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls208 ws1\">23.06.25<span class=\"ls1\"> </span></div></td><td class=\"c x348 y3849 w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2e4 y3849 w24 hfd\"><div class=\"t m0 x1ab hfb y28f7 ff3f fsba fc4 sc0 ls208 ws1\">718,898<span class=\"ls1\"> </span></div></td><td class=\"c x21d y3849 w24 hfd\"><div class=\"t m0 x1 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x349 y3849 w24 hfd\"><div class=\"t m0 x1b5 hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(24,602)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y3849 w24 hfd\"><div class=\"t m0 x195 hfb y28f7 ff42 fsba fc11 sc0 ls1eb ws1\">694,296<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3849 w24 hfd\"><div class=\"t m0 x1a1 hfb y28f7 ff3f fsba fc4 sc0 ls1dd ws1\">379.20<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3849 w24 hfd\"><div class=\"t m0 x195 hfb y28f7 ff3f fsba fc4 sc0 ls208 ws1\">23.06.28<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x348 y384a w24 hfd\"><div class=\"t m0 x191 hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">2,067,662<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y384a w24 hfd\"><div class=\"t m0 x1ab hfb y29a1 ff3f fsba fc4 sc0 ls208 ws1\">718,898<span class=\"ls1\"> </span></div></td><td class=\"c x21d y384a w24 hfd\"><div class=\"t m0 x1a9 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(585,930)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y384a w24 hfd\"><div class=\"t m0 x195 hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(164,284)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y384a w24 hfd\"><div class=\"t m0 x1ba hfb y29a1 ff42 fsba fc11 sc0 ls1d7 ws1\">2,036,346<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y384b w22 hfd\"><div class=\"t m0 x0 hfb y28dd ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x348 y384b w24 hfd\"><div class=\"t m0 x1a9 hfb y28dd ff3f fsba fc4 sc0 ls1dd ws1\">5,961,227<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y384b w24 hfd\"><div class=\"t m0 x1b1 hfb y28dd ff3f fsba fc4 sc0 ls1ea ws1\">2,335,940<span class=\"ls1\"> </span></div></td><td class=\"c x21d y384b w24 hfd\"><div class=\"t m0 x197 hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(1,166,272)<span class=\"ls1\"> </span></div></td><td class=\"c x349 y384b w24 hfd\"><div class=\"t m0 x1ba hfb y28dd ff3f fsba fc4 sc0 ls1db ws1\">(1,709,888)<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y384b w24 hfd\"><div class=\"t m0 x1b1 hfb y28dd ff42 fsba fc11 sc0 ls1d7 ws1\">5,421,007<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1fe y374b w1f4 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls2a3 ws1\">Weighte<span class=\"_ _1\"></span>d avera<span class=\"_ _1\"></span>ge pric<span class=\"_ _1\"></span>e<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1fe y3639 w1f5 h152\"><div class=\"t m0 x1e7 hfb y3479 ff42 fsba fc4 sc0 ls1eb ws1\">of<span class=\"ls1\"> <span class=\"ls289\">shares</span> <span class=\"ls1da\">(pence)<span class=\"_ _216\"> </span></span></span></div></td><td class=\"c x348 y384c w24 h102\"><div class=\"t m0 x1a3 hfb y28d7 ff3f fsba fc4 sc0 ls1d8 ws1\">401<span class=\"ls1\"> </span></div></td><td class=\"c x2e4 y384c w24 h102\"><div class=\"t m0 x19a hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">379<span class=\"ls1\"> </span></div></td><td class=\"c x21d y384c w24 h102\"><div class=\"t m0 x1a3 hfb y28d7 ff3f fsba fc4 sc0 ls1d8 ws1\">471<span class=\"ls1\"> </span></div></td><td class=\"c x349 y384c w24 h102\"><div class=\"t m0 x19d hfb y28d7 ff3f fsba fc4 sc0 ls1d8 ws1\">420<span class=\"ls1\"> </span></div></td><td class=\"c x1e6 y384c w24 h102\"><div class=\"t m0 x19d hfb y28d7 ff42 fsba fc11 sc0 ls1dd ws1\">370<span class=\"ls1\"> </span></div></td><td></td><td></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-442": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs46b\">20 <span class=\"_ _23\"> </span><span class=\"ls279\">Segment information</span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs46c\">The Group allocates <span class=\"_ _1\"></span>resources to investment <span class=\"_ _1\"></span>and asset management according t<span class=\"_ _1\"></span>o the sectors it <span class=\"_ _1\"></span>expects to perform over </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs46d\">the medium term<span class=\"_ _0\"></span>, and reports under two op<span class=\"_ _0\"></span>erating segments, being C<span class=\"_ _0\"></span>ampuses and Retail &amp; <span class=\"ls24b\">London Urban Logistics<span class=\"ls235\">. <span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1 ws1 gs46e\">T<span class=\"ls238\">he relevant gross <span class=\"_ _1\"></span><span class=\"ls211\">rental income, ne<span class=\"_ _0\"></span>t rental income, operating result an<span class=\"_ _0\"></span>d property assets, being the m<span class=\"_ _0\"></span>easures of segment </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs46f\">revenue, segment re<span class=\"_ _0\"></span>sult and segment assets use<span class=\"_ _0\"></span>d by the managem<span class=\"_ _0\"></span>ent of the business, are set out on<span class=\"_ _0\"></span> the following page<span class=\"ls1\">s<span class=\"ls22a\">. </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls213 ws1 gs470\">Management <span class=\"_ _1\"></span>reviews t<span class=\"_ _1\"></span>he perfor<span class=\"_ _1\"></span>mance <span class=\"ls20f\">of the busi<span class=\"_ _1\"></span>ness principally <span class=\"_ _1\"></span>on a proportionally <span class=\"_ _1\"></span>consolidated basis, <span class=\"_ _1\"></span>which includes </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls211 ws1 gs471\">the<span class=\"ls1\"> <span class=\"ls22d\">Group\u2019s s<span class=\"_ _1\"></span>hare of jo<span class=\"_ _1\"></span>int ventures<span class=\"_ _1\"></span> on a lin<span class=\"_ _1\"></span>e<span class=\"ls1\">-<span class=\"ls22c\">by</span>-<span class=\"ls229\">line basis. The c<span class=\"_ _0\"></span>hief operatin<span class=\"_ _0\"></span>g decision m<span class=\"_ _0\"></span>aker for the<span class=\"_ _0\"></span> purpose of<span class=\"_ _0\"></span> segment </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls229 ws1 gs472\">informatio<span class=\"_ _0\"></span>n is the Execu<span class=\"_ _0\"></span>tive Comm<span class=\"_ _0\"></span>ittee.<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs473\">Gross rent<span class=\"_ _1\"></span><span class=\"ls225\">al income is derived from the rental<span class=\"_ _1\"></span> of <span class=\"ls1fc\">investmen<span class=\"_ _0\"></span>t properties<span class=\"_ _0\"></span><span class=\"ls235\">. Operating r<span class=\"_ _0\"></span>esult is the ne<span class=\"_ _0\"></span>t of net rent<span class=\"_ _0\"></span>al income, </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls231 ws1 gs474\">fee income and<span class=\"_ _0\"></span> administrative expe<span class=\"_ _0\"></span>nses. No customer e<span class=\"_ _0\"></span>xceeded 10% of the<span class=\"_ _0\"></span> Group\u2019s revenues<span class=\"_ _0\"></span> in either year.<span class=\"_ _216\"> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs476\">Seg<span class=\"ls22a\">ment res<span class=\"_ _0\"></span>ult<span class=\"ls1\"> </span></span></div><div class=\"gs291\"><table class=\"s w1f7 h195\" id=\"_45d81672-58fc-47c9-bcb3-258ad5f8c7af\"><tr><td></td><td></td><td></td><td></td><td class=\"c x39e y385e w1f8 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls216 ws1\">Retail &amp; <span class=\"ls235\">London<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x39f y385f w6a h106\"><div class=\"t m0 x1a7 hf9 y293a ff3d fsb9 fc4 sc0 ls1d3 ws1\">Campuses<span class=\"ls1\"> </span></div></td><td></td><td></td><td class=\"c x3a0 y3860 w1f9 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d4 ws1\">Urban Logistics<span class=\"_ _216\"> </span></div></td><td class=\"c x3a1 y385f w4c h106\"><div class=\"t m0 x194 hf9 y293a ff3d fsb9 fc4 sc0 ls1d4 ws1\">Unallocated<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x3a2 y385f w6a h106\"><div class=\"t m0 x19e hf9 y293a ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x3a3 y3861 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3a4 y3861 w13c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3a5 y3861 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3a6 y3861 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3a7 y3861 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3a8 y3861 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3a9 y3861 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span></div></td><td class=\"c x20a y3861 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x3aa y3862 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3ab y3862 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3ac y3862 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3ad y3862 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3ae y3862 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3af y3862 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3b0 y3862 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x2e3 y3862 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3863 w69 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls20a ws1\">Gross rental<span class=\"_ _1\"></span> income<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3864 w69 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Group<span class=\"ls1\"> </span></div></td><td class=\"c x39f y3864 w28 hfd\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1df ws1\">108<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3864 w28 hfd\"><div class=\"t m0 x196 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">95<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y3864 w29 hfd\"><div class=\"t m0 x198 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">289<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3864 w28 hfd\"><div class=\"t m0 x1a7 hfb y28e3 ff3f fsba fc4 sc0 ls1ea ws1\">235<span class=\"ls1\"> </span></div></td><td class=\"c x3a1 y3864 w28 hfd\"><div class=\"t m0 x19e hfb y28e3 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y3864 w29 hfd\"><div class=\"t m0 x19e hfb y28e3 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3a2 y3864 w28 hfd\"><div class=\"t m0 x1a5 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3864 w28 hfd\"><div class=\"t m0 x1a5 hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">330<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3865 w69 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1ed ws1\">Share of joint ventures <span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x39f y3865 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">124<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3865 w28 hfe\"><div class=\"t m0 x19d hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">111<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y3865 w29 hfe\"><div class=\"t m0 x1c1 hfb y28e6 ff42 fsba fc11 sc0 ls1d7 ws1\">24<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3865 w28 hfe\"><div class=\"t m0 x196 hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">35<span class=\"ls1\"> </span></div></td><td class=\"c x3a1 y3865 w28 hfe\"><div class=\"t m0 x19e hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y3865 w29 hfe\"><div class=\"t m0 x19e hfb y28e6 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3a2 y3865 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">148<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3865 w28 hfe\"><div class=\"t m0 x178 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">146<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3866 w69 hfd\"><div class=\"t m0 x0 hfb y297c ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x39f y3866 w28 hfd\"><div class=\"t m0 x1a5 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">232<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3866 w28 hfd\"><div class=\"t m0 x198 hfb y297c ff3f fsba fc4 sc0 ls1ea ws1\">206<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y3866 w29 hfd\"><div class=\"t m0 x178 hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">313<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3866 w28 hfd\"><div class=\"t m0 x1a5 hfb y297c ff3f fsba fc4 sc0 ls1ea ws1\">270<span class=\"ls1\"> </span></div></td><td class=\"c x3a1 y3866 w28 hfd\"><div class=\"t m0 x19e hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y3866 w29 hfd\"><div class=\"t m0 x19e hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3a2 y3866 w28 hfd\"><div class=\"t m0 x1a5 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">545<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3866 w28 hfd\"><div class=\"t m0 x1a5 hfb y297c ff3f fsba fc4 sc0 ls1d8 ws1\">476<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3867 w69 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls1e1 ws1\">Net rental <span class=\"_ _1\"></span>income<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3868 w69 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Group<span class=\"ls1\"> </span></div></td><td class=\"c x39f y3868 w28 hfe\"><div class=\"t m0 x196 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">88<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3868 w28 hfe\"><div class=\"t m0 x196 hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">79<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y3868 w29 hfe\"><div class=\"t m0 x198 hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">266<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3868 w28 hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls1ea ws1\">222<span class=\"ls1\"> </span></div></td><td class=\"c x3a1 y3868 w28 hfe\"><div class=\"t m0 x19e hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y3868 w29 hfe\"><div class=\"t m0 x19e hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3a2 y3868 w28 hfe\"><div class=\"t m0 x1a5 hfb y28d7 ff42 fsba fc11 sc0 ls1dd ws1\">354<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3868 w28 hfe\"><div class=\"t m0 x178 hfb y28d7 ff3f fsba fc4 sc0 ls1dd ws1\">301<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3869 w69 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1ed ws1\">Share of joint ventures <span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x39f y3869 w28 hfd\"><div class=\"t m0 x1b0 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">101<span class=\"ls1\"> </span></div></td><td class=\"c x239 y3869 w28 hfd\"><div class=\"t m0 x196 hfb y292b ff3f fsba fc4 sc0 ls1e0 ws1\">98<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y3869 w29 hfd\"><div class=\"t m0 x19b hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">21<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y3869 w28 hfd\"><div class=\"t m0 x19b hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">32<span class=\"ls1\"> </span></div></td><td class=\"c x3a1 y3869 w28 hfd\"><div class=\"t m0 x19e hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y3869 w29 hfd\"><div class=\"t m0 x19e hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3a2 y3869 w28 hfd\"><div class=\"t m0 x178 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">122<span class=\"ls1\"> </span></div></td><td class=\"c x222 y3869 w28 hfd\"><div class=\"t m0 x178 hfb y292b ff3f fsba fc4 sc0 ls1dc ws1\">130<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y36a0 w69 hfd\"><div class=\"t m0 x0 hfb y28ef ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x39f y36a0 w28 hfd\"><div class=\"t m0 x178 hfb y28ef ff42 fsba fc11 sc0 ls1df ws1\">189<span class=\"ls1\"> </span></div></td><td class=\"c x239 y36a0 w28 hfd\"><div class=\"t m0 x1b0 hfb y28ef ff3f fsba fc4 sc0 ls1dc ws1\">177<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y36a0 w29 hfd\"><div class=\"t m0 x1a5 hfb y28ef ff42 fsba fc11 sc0 ls1d7 ws1\">287<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y36a0 w28 hfd\"><div class=\"t m0 x1a7 hfb y28ef ff3f fsba fc4 sc0 ls1ea ws1\">254<span class=\"ls1\"> </span></div></td><td class=\"c x3a1 y36a0 w28 hfd\"><div class=\"t m0 x19e hfb y28ef ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x201 y36a0 w29 hfd\"><div class=\"t m0 x19e hfb y28ef ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3a2 y36a0 w28 hfd\"><div class=\"t m0 x1a5 hfb y28ef ff42 fsba fc11 sc0 ls1e9 ws1\">476<span class=\"ls1\"> </span></div></td><td class=\"c x222 y36a0 w28 hfd\"><div class=\"t m0 x178 hfb y28ef ff3f fsba fc4 sc0 ls1d8 ws1\">431<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y386a w69 hfd\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls204 ws1\">Operating r<span class=\"_ _1\"></span>esult<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y386b w69 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Group<span class=\"ls1\"> </span></div></td><td class=\"c x39f y386b w28 hfe\"><div class=\"t m0 x1c1 hfb y28f5 ff42 fsba fc11 sc0 ls1eb ws1\">96<span class=\"ls1\"> </span></div></td><td class=\"c x239 y386b w28 hfe\"><div class=\"t m0 x196 hfb y28f5 ff3f fsba fc4 sc0 ls1e0 ws1\">93<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y386b w29 hfe\"><div class=\"t m0 x1a5 hfb y28f5 ff42 fsba fc11 sc0 ls1d7 ws1\">263<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y386b w28 hfe\"><div class=\"t m0 x1a7 hfb y28f5 ff3f fsba fc4 sc0 ls1ea ws1\">222<span class=\"ls1\"> </span></div></td><td class=\"c x3a1 y386b w28 hfe\"><div class=\"t m0 x1a7 hfb y28f5 ff42 fsba fc11 sc0 ls1da ws1\">(43)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y386b w29 hfe\"><div class=\"t m0 x178 hfb y28f5 ff3f fsba fc4 sc0 ls1db ws1\">(52)<span class=\"ls1\"> </span></div></td><td class=\"c x3a2 y386b w28 hfe\"><div class=\"t m0 x178 hfb y28f5 ff42 fsba fc11 sc0 ls1dd ws1\">316<span class=\"ls1\"> </span></div></td><td class=\"c x222 y386b w28 hfe\"><div class=\"t m0 x1a7 hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">263<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y386c w69 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls1ed ws1\">Share of joint ventures <span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x39f y386c w28 hfd\"><div class=\"t m0 x196 hfb y2c1d ff42 fsba fc11 sc0 ls1eb ws1\">92<span class=\"ls1\"> </span></div></td><td class=\"c x239 y386c w28 hfd\"><div class=\"t m0 x196 hfb y2c1d ff3f fsba fc4 sc0 ls1d7 ws1\">89<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y386c w29 hfd\"><div class=\"t m0 x1a6 hfb y2c1d ff42 fsba fc11 sc0 ls1d7 ws1\">20<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y386c w28 hfd\"><div class=\"t m0 x1c1 hfb y2c1d ff3f fsba fc4 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x3a1 y386c w28 hfd\"><div class=\"t m0 x19a hfb y2c1d ff42 fsba fc11 sc0 ls1da ws1\">(1)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y386c w29 hfd\"><div class=\"t m0 x19e hfb y2c1d ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3a2 y386c w28 hfd\"><div class=\"t m0 x196 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">111<span class=\"ls1\"> </span></div></td><td class=\"c x222 y386c w28 hfd\"><div class=\"t m0 x1c1 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">119<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y386d w69 hfe\"><div class=\"t m0 x0 hfb y2912 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x39f y386d w28 hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">188<span class=\"ls1\"> </span></div></td><td class=\"c x239 y386d w28 hfe\"><div class=\"t m0 x1b0 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">182<span class=\"ls1\"> </span></div></td><td class=\"c x2fd y386d w29 hfe\"><div class=\"t m0 x1a5 hfb y2912 ff42 fsba fc11 sc0 ls1d7 ws1\">283<span class=\"ls1\"> </span></div></td><td class=\"c x2e5 y386d w28 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1ea ws1\">252<span class=\"ls1\"> </span></div></td><td class=\"c x3a1 y386d w28 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(44)<span class=\"ls1\"> </span></div></td><td class=\"c x201 y386d w29 hfe\"><div class=\"t m0 x178 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(52)<span class=\"ls1\"> </span></div></td><td class=\"c x3a2 y386d w28 hfe\"><div class=\"t m0 x1a5 hfb y2912 ff42 fsba fc11 sc0 ls1e9 ws1\">427<span class=\"ls1\"> </span></div></td><td class=\"c x222 y386d w28 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1dd ws1\">382<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"gs477\"><table class=\"s w1f6 h194\" id=\"_ccbd4439-3b5c-477f-8602-84facedb35dc\"><tr><td></td><td class=\"c x32d y37b1 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y37b1 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y384d w25 h106\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls1d6 ws1\">Reconciliation <span class=\"_ _1\"></span>to <span class=\"ls1e2\">Underlying Prof<span class=\"_ _1\"></span>it</span><span class=\"ls1e2\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1f7 y384e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y384e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y384f w25 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls204 ws1\">Operating <span class=\"_ _1\"></span>result<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y384f w24 hfe\"><div class=\"t m0 x19a hfb y293b ff42 fsba fc11 sc0 ls1e9 ws1\">427<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y384f w24 hfe\"><div class=\"t m0 x19a hfb y293b ff3f fsba fc4 sc0 ls1dd ws1\">382<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3850 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls1e1 ws1\">Net financi<span class=\"_ _1\"></span>ng charges<span class=\"_ _216\"> </span></div><div class=\"t m0 x10b hff y2ec6 ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x18d hfb y29a1 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3850 w24 hfd\"><div class=\"t m0 x19b hfb y29a1 ff42 fsba fc11 sc0 ls1da ws1\">(133)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3850 w24 hfd\"><div class=\"t m0 x19b hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(103)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3851 w25 hfe\"><div class=\"t m0 x0 hfb y28d7 ff42 fsba fc4 sc0 ls1e2 ws1\">Underlying<span class=\"ls1\"> <span class=\"ls1eb\">Profit</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3851 w24 hfe\"><div class=\"t m0 x19d hfb y28d7 ff42 fsba fc11 sc0 ls1d7 ws1\">294<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3851 w24 hfe\"><div class=\"t m0 x19a hfb y28d7 ff3f fsba fc4 sc0 ls208 ws1\">279<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3852 w25 hfe\"><div class=\"t m0 x0 hfb y28fc ff42 fsba fc4 sc0 ls1d6 ws1\">Reconciliation <span class=\"_ _1\"></span>to profit<span class=\"ls1\"> <span class=\"ls1d8\">before taxat<span class=\"_ _1\"></span>ion</span></span><span class=\"ls1\"><span class=\"ls1d8\"><span class=\"ls1\"> </span></span></span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3853 w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1e2 ws1\">Underlying Pr<span class=\"_ _1\"></span>ofit<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3853 w24 hfd\"><div class=\"t m0 x19d hfb y292f ff42 fsba fc11 sc0 ls1d7 ws1\">294<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3853 w24 hfd\"><div class=\"t m0 x19a hfb y292f ff3f fsba fc4 sc0 ls208 ws1\">279<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3854 w25 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital and ot<span class=\"_ _1\"></span>her<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3854 w24 hfe\"><div class=\"t m0 x1a3 hfb y28f3 ff42 fsba fc11 sc0 ls1df ws1\">156<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3854 w24 hfe\"><div class=\"t m0 x1a2 hfb y28f3 ff3f fsba fc4 sc0 ls1e0 ws1\">63<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3855 w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff42 fsba fc4 sc0 ls1e0 ws1\">Total profit before <span class=\"_ _1\"></span><span class=\"ls1e8\">taxation</span><span class=\"ls1e8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y3855 w24 hfe\"><div class=\"t m0 x19d hfb y28f5 ff42 fsba fc11 sc0 ls1e9 ws1\">450<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3855 w24 hfe\"><div class=\"t m0 x19a hfb y28f5 ff3f fsba fc4 sc0 ls1dd ws1\">342<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3856 w25 hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1d6 ws1\">Reconciliation <span class=\"_ _1\"></span>to Group revenue<span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c x1f9 y3857 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls20a ws1\">Gross rental<span class=\"_ _1\"></span> income per oper<span class=\"_ _1\"></span>ating segment re<span class=\"_ _1\"></span>sult<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3857 w24 hfd\"><div class=\"t m0 x19d hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">545<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3857 w24 hfd\"><div class=\"t m0 x19a hfb y292b ff3f fsba fc4 sc0 ls1d8 ws1\">476<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3858 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1dd ws1\">Less share of gross rental <span class=\"_ _1\"></span>income of joint ventures <span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3858 w24 hfe\"><div class=\"t m0 x196 hfb y28d5 ff42 fsba fc11 sc0 ls1da ws1\">(148)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3858 w24 hfe\"><div class=\"t m0 x19b hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(146)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3859 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls20a ws1\">Gross rental<span class=\"_ _1\"></span> income (Note 3)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3859 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff42 fsba fc11 sc0 ls1dd ws1\">397<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3859 w24 hfe\"><div class=\"t m0 x19a hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">330<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y385a w25 hfe\"><div class=\"t m0 x0 hfb y28f5 ff3f fsba fc4 sc0 ls1ed ws1\">Service charge income<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y385a w24 hfe\"><div class=\"t m0 x1a2 hfb y28f5 ff42 fsba fc11 sc0 ls1dd ws1\">78<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y385a w24 hfe\"><div class=\"t m0 x1ad hfb y28f5 ff3f fsba fc4 sc0 ls208 ws1\">77<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y385b w25 hfd\"><div class=\"t m0 x0 hfb y2c1d ff3f fsba fc4 sc0 ls20b ws1\">Management an<span class=\"_ _1\"></span>d performance <span class=\"_ _1\"></span>fees (fro<span class=\"_ _1\"></span>m joint vent<span class=\"_ _1\"></span>ures<span class=\"ls1\"> <span class=\"ls1e6\">and assets under management</span></span><span class=\"ls1\">) </span></div></td><td class=\"c x1fc y385b w24 hfd\"><div class=\"t m0 x1a4 hfb y2c1d ff42 fsba fc11 sc0 ls1df ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y385b w24 hfd\"><div class=\"t m0 x1a2 hfb y2c1d ff3f fsba fc4 sc0 ls208 ws1\">20<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y385c w25 hfe\"><div class=\"t m0 x0 hfb y293b ff3f fsba fc4 sc0 ls204 ws1\">Other fee<span class=\"_ _1\"></span>s and commissi<span class=\"_ _1\"></span>ons<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y385c w24 hfe\"><div class=\"t m0 x1a2 hfb y293b ff42 fsba fc11 sc0 ls1d7 ws1\">29<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y385c w24 hfe\"><div class=\"t m0 x1ad hfb y293b ff3f fsba fc4 sc0 ls208 ws1\">27<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y385d w25 hfd\"><div class=\"t m0 x0 hfb y2928 ff42 fsba fc4 sc0 ls1d6 ws1\">Revenue (consolidat<span class=\"_ _1\"></span>ed income statement)<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y385d w24 hfd\"><div class=\"t m0 x19a hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">523<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y385d w24 hfd\"><div class=\"t m0 x19d hfb y2928 ff3f fsba fc4 sc0 ls1d8 ws1\">454<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs478\">1. <span class=\"ls1\"> <span class=\"_ _d\"></span><span class=\"ls1ff\">A reconciliation <span class=\"ls1f2\">bet<span class=\"_ _1\"></span>ween net financing charges in the cons<span class=\"_ _1\"></span>olidated income <span class=\"ls202\">statement and net financing charges of \u00a3133m </span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fc ws1 gs479\">(2024/25:<span class=\"ls1\"> <span class=\"ls1fb\">\u00a3103m) in the segmental disclosures above can <span class=\"_ _1\"></span>be found within Table A in the supplementa<span class=\"_ _1\"></span>ry disclosures.<span class=\"ls1\"> </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs47a\">All of <span class=\"_ _1\"></span>the operati<span class=\"_ _1\"></span>ng result<span class=\"ls1\"> <span class=\"ls225\">above, in <span class=\"_ _1\"></span>the current <span class=\"ls223\">year<span class=\"ls1\"> <span class=\"ls222\">to 31 March 2026 </span></span></span>and prior <span class=\"ls223\">year<span class=\"ls1\"> <span class=\"ls222\">to 31 Marc<span class=\"ls221\">h 2025<span class=\"ls235\">, wa<span class=\"_ _0\"></span>s derived </span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs47b\">in<span class=\"ls1\"> <span class=\"ls222\">the UK.</span> </span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls23e ws1 gs47d\">Segment assets<span class=\"ls1\"> </span></div><div class=\"gs291\"><table class=\"s w1fb h197\" id=\"_c4b2d46a-12b2-4701-af9f-5edfd35c8e15\"><tr><td></td><td></td><td></td><td class=\"c x3b1 y3877 w1f8 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls216 ws1\">Retail &amp; <span class=\"ls235\">London<span class=\"_ _216\"> </span></span></div></td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c x223 y3878 w3e h106\"><div class=\"t m0 x1a3 hf9 y293a ff3d fsb9 fc4 sc0 ls1d3 ws1\">Campuses<span class=\"ls1\"> </span></div></td><td></td><td class=\"c x3b2 y3879 w1f9 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d4 ws1\">Urban Logistics<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x1fc y3878 w3e h106\"><div class=\"t m0 x1 hf9 y293a ff3d fsb9 fc4 sc0 ls1d2 ws1\">Total<span class=\"ls1\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c x3b3 y35aa w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3b4 y35aa w13c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3b5 y35aa w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3b6 y35aa w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td><td class=\"c x32d y35aa w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y35aa w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x232 y35ab w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3b7 y35ab wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f5 y35ab w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3b8 y35ab wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f7 y35ab w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y35ab wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y387a w2d hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls1eb ws1\">Property assets<span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y387b w2d hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Group<span class=\"ls1\"> </span></div></td><td class=\"c x223 y387b w24 hfd\"><div class=\"t m0 x1b0 hfb y28e3 ff42 fsba fc11 sc0 ls1d7 ws1\">2,431<span class=\"ls1\"> </span></div></td><td class=\"c x238 y387b w24 hfd\"><div class=\"t m0 x178 hfb y28e3 ff3f fsba fc4 sc0 ls1ea ws1\">2,397<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y387b w24 hfd\"><div class=\"t m0 x1a7 hfb y28e3 ff42 fsba fc11 sc0 ls1dd ws1\">3,888<span class=\"ls1\"> </span></div></td><td class=\"c x365 y387b w24 hfd\"><div class=\"t m0 x1a6 hfb y28e3 ff3f fsba fc4 sc0 ls1dd ws1\">3,671<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y387b w24 hfd\"><div class=\"t m0 x178 hfb y28e3 ff42 fsba fc11 sc0 ls1eb ws1\">6,319<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y387b w24 hfd\"><div class=\"t m0 x1a5 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">6,068<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y387c w2d hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1ed ws1\">Share of joint ventures <span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x223 y387c w24 hfe\"><div class=\"t m0 x1a5 hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">3,424<span class=\"ls1\"> </span></div></td><td class=\"c x238 y387c w24 hfe\"><div class=\"t m0 x1b0 hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">3,107<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y387c w24 hfe\"><div class=\"t m0 x19a hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">32<span class=\"ls1\">2</span><span class=\"ls1\"> </span></div></td><td class=\"c x365 y387c w24 hfe\"><div class=\"t m0 x19e hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">314<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y387c w24 hfe\"><div class=\"t m0 x1a5 hfb y28e6 ff42 fsba fc11 sc0 ls1dd ws1\">3,746<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y387c w24 hfe\"><div class=\"t m0 x1a6 hfb y28e6 ff3f fsba fc4 sc0 ls1dd ws1\">3,421<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y387d w2d hfd\"><div class=\"t m0 x0 hfb y297c ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x223 y387d w24 hfd\"><div class=\"t m0 x1a7 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">5,855<span class=\"ls1\"> </span></div></td><td class=\"c x238 y387d w24 hfd\"><div class=\"t m0 x1a7 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">5,504<span class=\"ls1\"> </span></div></td><td class=\"c x1fb y387d w24 hfd\"><div class=\"t m0 x178 hfb y297c ff42 fsba fc11 sc0 ls1e9 ws1\">4,21<span class=\"ls1\">0</span><span class=\"ls1\"> </span></div></td><td class=\"c x365 y387d w24 hfd\"><div class=\"t m0 x178 hfb y297c ff3f fsba fc4 sc0 ls1dd ws1\">3,985<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y387d w24 hfd\"><div class=\"t m0 x1a1 hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">10,065<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y387d w24 hfd\"><div class=\"t m0 x1a7 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">9,489<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls21f ws1 gs47e\">Reconciliation t<span class=\"_ _0\"></span>o net assets<span class=\"ls1\"> </span></div><div class=\"gs47f\"><table class=\"s w1fa h196\" id=\"_af992da6-0d86-4b9f-a732-94bb33822414\"><tr><td></td><td class=\"c x32d y386e w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y386e w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y3762 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y3762 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y386f w25 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls1eb ws1\">Property assets<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y386f w24 hfe\"><div class=\"t m0 x1a1 hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">10,065<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y386f w24 hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff3f fsba fc4 sc0 ls1e0 ws1\">9,489<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3870 w25 hfd\"><div class=\"t m0 x0 hfb y28e8 ff3f fsba fc4 sc0 ls204 ws1\">Other non<span class=\"ls1\">-<span class=\"ls1e6\">current as<span class=\"_ _1\"></span>sets</span></span><span class=\"ls1\"><span class=\"ls1e6\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x1fc y3870 w24 hfd\"><div class=\"t m0 x1a4 hfb y28e8 ff42 fsba fc11 sc0 ls1d7 ws1\">51<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3870 w24 hfd\"><div class=\"t m0 x1a2 hfb y28e8 ff3f fsba fc4 sc0 ls1e0 ws1\">64<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3871 w25 hfe\"><div class=\"t m0 x0 hfb y2967 ff42 fsba fc4 sc0 ls1e1 ws1\">Non<span class=\"ls1\">-<span class=\"ls1e6\">current</span> <span class=\"ls208\">assets</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3871 w24 hfe\"><div class=\"t m0 x1a5 hfb y2967 ff42 fsba fc11 sc0 ls1df ws1\">10,116<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3871 w24 hfe\"><div class=\"t m0 x178 hfb y2967 ff3f fsba fc4 sc0 ls1e0 ws1\">9,553<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3872 w25 hfd\"><div class=\"t m0 x0 hfb y29a1 ff3f fsba fc4 sc0 ls204 ws1\">Other net <span class=\"_ _1\"></span>current l<span class=\"_ _1\"></span>iabilitie<span class=\"_ _1\"></span>s<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3872 w24 hfd\"><div class=\"t m0 x1c1 hfb y29a1 ff42 fsba fc11 sc0 ls1da ws1\">(328)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3872 w24 hfd\"><div class=\"t m0 x19b hfb y29a1 ff3f fsba fc4 sc0 ls1db ws1\">(310)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3873 w25 hfe\"><div class=\"t m0 x0 hfb y2914 ff3f fsba fc4 sc0 ls1d8 ws1\">EPRA net debt<span class=\"_ _216\"> </span></div><div class=\"t m0 x162 hff y2efa ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 xfa hfb y2914 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x1fc y3873 w24 hfe\"><div class=\"t m0 x199 hfb y2914 ff42 fsba fc11 sc0 ls1da ws1\">(3,865)<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3873 w24 hfe\"><div class=\"t m0 x194 hfb y2914 ff3f fsba fc4 sc0 ls1db ws1\">(3,545)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3874 w25 hfd\"><div class=\"t m0 x0 hfb y292b ff42 fsba fc4 sc0 ls1d8 ws1\">EPRA NTA<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3874 w24 hfd\"><div class=\"t m0 x1a7 hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">5,923<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3874 w24 hfd\"><div class=\"t m0 x1a7 hfb y292b ff3f fsba fc4 sc0 ls1dd ws1\">5,698<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3875 w25 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d8 ws1\">EPRA adjustments<span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3875 w24 hfe\"><div class=\"t m0 x1aa hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">9 </div></td><td class=\"c x1fd y3875 w24 hfe\"><div class=\"t m0 x8f hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">12<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3876 w25 hfe\"><div class=\"t m0 x0 hfb y28e1 ff42 fsba fc4 sc0 ls205 ws1\">IFRS n<span class=\"ls1dd\">et assets<span class=\"ls1\"> <span class=\"ls1da\">(consolidated balance sheet)</span> </span></span></div></td><td class=\"c x1fc y3876 w24 hfe\"><div class=\"t m0 x1a7 hfb y28e1 ff42 fsba fc11 sc0 ls1d7 ws1\">5,932<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3876 w24 hfe\"><div class=\"t m0 x1b0 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">5,710<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs480\">1.<span class=\"ls1\"> <span class=\"_ _24\"> </span><span class=\"ls1ff\">A reconciliati<span class=\"_ _1\"></span>on <span class=\"ls1f2\">between EPRA <span class=\"ls200\">net debt and IFRS net debt <span class=\"ls1f4\">can be found withi<span class=\"_ _1\"></span>n Table A in the supplementary disclosures. </span></span></span></span></span><span class=\"ls1\"><span class=\"ls1ff\"><span class=\"ls1f2\"><span class=\"ls200\"><span class=\"ls1f4\"><span class=\"ls1\"> </span></span></span></span></span></span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-443": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs482\">21 <span class=\"_ _23\"> </span><span class=\"ls273\">Capital commitments</span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs483\">The aggregate capita<span class=\"_ _1\"></span>l commitments to purchase, <span class=\"_ _1\"></span>construct or develop i<span class=\"_ _1\"></span>nvestment property, for <span class=\"_ _1\"></span>repairs, maintenance </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs484\">or<span class=\"ls1\"> <span class=\"ls223\">enhancements, or for <span class=\"ls222\">the purchase of investments which<span class=\"_ _0\"></span> are contracted for but not p<span class=\"_ _0\"></span>rovided, are set out below:</span></span> </span></div><div class=\"gs485\"><table class=\"s w1fc h198\" id=\"_e21d0570-b6b2-4692-9076-0e2a43efce46\"><tr><td></td><td class=\"c x32d y3544 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3544 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y387e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y387e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y387f w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span><span class=\"ls20a\">Group</span><span class=\"ls20a\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y387f w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff42 fsba fc11 sc0 ls1e9 ws1\">42<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y387f w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3880 w25 hfd\"><div class=\"t m0 x0 hfb y2f99 ff3f fsba fc4 sc0 ls1ed ws1\">Share of joint ventures<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3880 w24 hfd\"><div class=\"t m0 x19a hfb y2f99 ff42 fsba fc11 sc0 ls1dd ws1\">337<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3880 w24 hfd\"><div class=\"t m0 x19a hfb y2f99 ff3f fsba fc4 sc0 ls208 ws1\">250<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y3881 w24 hfe\"><div class=\"t m0 x19a hfb y2967 ff42 fsba fc11 sc0 ls1dd ws1\">379<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3881 w24 hfe\"><div class=\"t m0 x19a hfb y2967 ff3f fsba fc4 sc0 ls208 ws1\">288<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1ec ws1 gs486\">As part <span class=\"_ _1\"></span>of the Group<span class=\"_ _1\"></span>\u2019s 2030 Sust<span class=\"_ _1\"></span>ainabilit<span class=\"_ _1\"></span>y Strategy,<span class=\"_ _1\"></span> the<span class=\"ls1\"> <span class=\"ls20d\">Group\u2019s Tran<span class=\"_ _1\"></span>sition Vehi<span class=\"_ _1\"></span>cle applies<span class=\"_ _1\"></span> an interna<span class=\"_ _1\"></span>l levy of <span class=\"_ _1\"></span>\u00a390 per </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs487\">tonne to the embo<span class=\"_ _0\"></span>died carbon within develop<span class=\"_ _0\"></span>ments. Two<span class=\"ls1\">-</span>thirds of the<span class=\"_ _0\"></span> internal levy is available to finance carbon<span class=\"_ _0\"></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls223 ws1 gs488\">efficient intervent<span class=\"_ _1\"></span>ions<span class=\"ls1\"> <span class=\"ls236\">which improve<span class=\"_ _1\"></span> energy ef<span class=\"_ _1\"></span>ficiency <span class=\"_ _1\"></span>and reduce<span class=\"_ _1\"></span> carbon emi<span class=\"_ _1\"></span>ssions fr<span class=\"_ _1\"></span>om our sta<span class=\"_ _1\"></span>nding port<span class=\"_ _1\"></span>folio. </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs489\">The<span class=\"ls1\"> <span class=\"ls222\">remaining third is used to<span class=\"_ _0\"></span> purchase carbon credits to m<span class=\"_ _0\"></span>itigate the residual embodied<span class=\"_ _0\"></span> carbon in our developm<span class=\"_ _0\"></span>ents. </span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs48a\">The Group committed \u00a3<span class=\"ls1\">2<span class=\"ls233\">m to<span class=\"_ _1\"></span> carbon <span class=\"_ _1\"></span>effici<span class=\"_ _1\"></span>ent int<span class=\"_ _1\"></span>er<span class=\"ls223\">ventions in the year<span class=\"_ _1\"></span> to 31 March 202<span class=\"ls1\">6 <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a3</span>1<span class=\"ls233\">m). The <span class=\"_ _1\"></span>Group </span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs48b\">spent \u00a3<span class=\"ls1\">1<span class=\"ls233\">m in th<span class=\"_ _1\"></span>e year <span class=\"_ _1\"></span>to 31 <span class=\"_ _1\"></span>March 202<span class=\"ls220\">6 <span class=\"_ _1\"></span><span class=\"ls243\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a3</span>3<span class=\"ls233\">m) on <span class=\"ls226\">carbon effi<span class=\"_ _1\"></span>cient interventions<span class=\"ls235\">, of which \u00a3<span class=\"ls1\">1<span class=\"ls233\">m <span class=\"ls243\">(2024/2<span class=\"_ _0\"></span>5: \u00a32m) </span></span></span></span></span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs48c\">is recovera<span class=\"_ _0\"></span>ble through<span class=\"_ _0\"></span> the service c<span class=\"_ _0\"></span>harge.<span class=\"ls1\"> </span></div><div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs49f\">23 <span class=\"_ _23\"> </span><span class=\"ls273\">Contingent liabilities</span> </div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls237 ws1 gs4a0\">Group and joi<span class=\"_ _0\"></span>nt ventures<span class=\"ls1\"> </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs4a1\">The Group and joint <span class=\"_ _1\"></span>ventures have contingent <span class=\"_ _1\"></span>liabilities <span class=\"_ _1\"></span>in respect of lega<span class=\"_ _1\"></span>l claims, guarantees<span class=\"_ _1\"></span> and warranties <span class=\"ls225\">arising i<span class=\"_ _1\"></span>n </span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls222 ws1 gs4a2\">the ordinary course of bu<span class=\"_ _0\"></span>siness. It is not anticipated that any ma<span class=\"_ _0\"></span>terial liabilities will arise from these contingent liabilities.<span class=\"ls1\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-465": {
   "value": "21 <span class=\"_ _23\"> </span><span class=\"ls273\">Capital commitments</span> The aggregate capita<span class=\"_ _1\"></span>l commitments to purchase, <span class=\"_ _1\"></span>construct or develop i<span class=\"_ _1\"></span>nvestment property, for <span class=\"_ _1\"></span>repairs, maintenance or<span class=\"ls1\"> <span class=\"ls223\">enhancements, or for <span class=\"ls222\">the purchase of investments which<span class=\"_ _0\"></span> are contracted for but not p<span class=\"_ _0\"></span>rovided, are set out below:</span></span> </span><table class=\"s w1fc h198\" id=\"_e21d0570-b6b2-4692-9076-0e2a43efce46\"><tr><td></td><td class=\"c x32d y3544 w94 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x1f1 y3544 w95 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td></td><td class=\"c x1f7 y387e w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x1f8 y387e wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y387f w25 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span><span class=\"ls20a\">Group</span><span class=\"ls20a\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x1fc y387f w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff42 fsba fc11 sc0 ls1e9 ws1\">42<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y387f w24 hfd\"><div class=\"t m0 x1a2 hfb y292f ff3f fsba fc4 sc0 ls1dd ws1\">38<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3880 w25 hfd\"><div class=\"t m0 x0 hfb y2f99 ff3f fsba fc4 sc0 ls1ed ws1\">Share of joint ventures<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x1fc y3880 w24 hfd\"><div class=\"t m0 x19a hfb y2f99 ff42 fsba fc11 sc0 ls1dd ws1\">337<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3880 w24 hfd\"><div class=\"t m0 x19a hfb y2f99 ff3f fsba fc4 sc0 ls208 ws1\">250<span class=\"ls1\"> </span></div></td></tr><tr><td></td><td class=\"c x1fc y3881 w24 hfe\"><div class=\"t m0 x19a hfb y2967 ff42 fsba fc11 sc0 ls1dd ws1\">379<span class=\"ls1\"> </span></div></td><td class=\"c x1fd y3881 w24 hfe\"><div class=\"t m0 x19a hfb y2967 ff3f fsba fc4 sc0 ls208 ws1\">288<span class=\"ls1\"> </span></div></td></tr></table>As part <span class=\"_ _1\"></span>of the Group<span class=\"_ _1\"></span>\u2019s 2030 Sust<span class=\"_ _1\"></span>ainabilit<span class=\"_ _1\"></span>y Strategy,<span class=\"_ _1\"></span> the<span class=\"ls1\"> <span class=\"ls20d\">Group\u2019s Tran<span class=\"_ _1\"></span>sition Vehi<span class=\"_ _1\"></span>cle applies<span class=\"_ _1\"></span> an interna<span class=\"_ _1\"></span>l levy of <span class=\"_ _1\"></span>\u00a390 per </span></span>tonne to the embo<span class=\"_ _0\"></span>died carbon within develop<span class=\"_ _0\"></span>ments. Two<span class=\"ls1\">-</span>thirds of the<span class=\"_ _0\"></span> internal levy is available to finance carbon<span class=\"_ _0\"></span> efficient intervent<span class=\"_ _1\"></span>ions<span class=\"ls1\"> <span class=\"ls236\">which improve<span class=\"_ _1\"></span> energy ef<span class=\"_ _1\"></span>ficiency <span class=\"_ _1\"></span>and reduce<span class=\"_ _1\"></span> carbon emi<span class=\"_ _1\"></span>ssions fr<span class=\"_ _1\"></span>om our sta<span class=\"_ _1\"></span>nding port<span class=\"_ _1\"></span>folio. </span></span>The<span class=\"ls1\"> <span class=\"ls222\">remaining third is used to<span class=\"_ _0\"></span> purchase carbon credits to m<span class=\"_ _0\"></span>itigate the residual embodied<span class=\"_ _0\"></span> carbon in our developm<span class=\"_ _0\"></span>ents. </span></span>The Group committed \u00a3<span class=\"ls1\">2<span class=\"ls233\">m to<span class=\"_ _1\"></span> carbon <span class=\"_ _1\"></span>effici<span class=\"_ _1\"></span>ent int<span class=\"_ _1\"></span>er<span class=\"ls223\">ventions in the year<span class=\"_ _1\"></span> to 31 March 202<span class=\"ls1\">6 <span class=\"ls243\">(202</span>4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a3</span>1<span class=\"ls233\">m). The <span class=\"_ _1\"></span>Group </span></span></span></span></span>spent \u00a3<span class=\"ls1\">1<span class=\"ls233\">m in th<span class=\"_ _1\"></span>e year <span class=\"_ _1\"></span>to 31 <span class=\"_ _1\"></span>March 202<span class=\"ls220\">6 <span class=\"_ _1\"></span><span class=\"ls243\">(202<span class=\"ls1\">4<span class=\"ls269\">/2</span>5<span class=\"_ _0\"></span><span class=\"ls26a\">: \u00a3</span>3<span class=\"ls233\">m) on <span class=\"ls226\">carbon effi<span class=\"_ _1\"></span>cient interventions<span class=\"ls235\">, of which \u00a3<span class=\"ls1\">1<span class=\"ls233\">m <span class=\"ls243\">(2024/2<span class=\"_ _0\"></span>5: \u00a32m) </span></span></span></span></span></span></span></span></span></span></span>is recovera<span class=\"_ _0\"></span>ble through<span class=\"_ _0\"></span> the service c<span class=\"_ _0\"></span>harge.<span class=\"ls1\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-444": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs48e\">22 <span class=\"_ _23\"> </span><span class=\"ls21b\">Related party <span class=\"ls283\">transactions</span></span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls20d ws1 gs48f\">Directors<span class=\"_ _1\"></span> are the k<span class=\"_ _1\"></span>ey management pers<span class=\"_ _1\"></span>onnel and have<span class=\"_ _1\"></span> the author<span class=\"_ _1\"></span>ity and res<span class=\"_ _1\"></span>ponsibility<span class=\"_ _1\"></span> for planni<span class=\"_ _1\"></span>ng, direct<span class=\"_ _1\"></span>ing and </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs490\">controlling the activit<span class=\"_ _1\"></span>ies of the entity. Details <span class=\"_ _1\"></span>of Directors\u2019 remuneration are given in t<span class=\"_ _1\"></span>he Remuneration Report on </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls234 ws1 gs491\">pages<span class=\"ls1\"> <span class=\"ls22f\">100</span> <span class=\"ls222\">to <span class=\"ls22f\">114<span class=\"ls235\">. Det<span class=\"_ _0\"></span>ails of transa<span class=\"_ _0\"></span>ctions with T<span class=\"_ _0\"></span>he British La<span class=\"_ _0\"></span>nd Group <span class=\"_ _0\"></span>of Compa<span class=\"_ _0\"></span>nies Pension<span class=\"_ _0\"></span> Scheme, a<span class=\"_ _0\"></span>nd other </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls224 ws1 gs492\">smaller<span class=\"ls1\"> <span class=\"ls234\">pension schemes, are <span class=\"_ _1\"></span>given in Note 9.<span class=\"ls1\"> <span class=\"ls20d\">Deta<span class=\"_ _1\"></span>ils of tr<span class=\"_ _1\"></span>ansactions <span class=\"_ _1\"></span>with joint <span class=\"_ _1\"></span>ventures ar<span class=\"_ _1\"></span>e given in <span class=\"_ _1\"></span><span class=\"ls1ec\">Note<span class=\"ls1\">s <span class=\"ls221\">3 and <span class=\"ls22f\">11 </span></span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs493\">and<span class=\"ls1\"> <span class=\"ls220\">outlined below.</span> </span></div><div class=\"gs494\"><table class=\"s w1fd h199\" id=\"_04adf9cf-0668-42d7-aeae-ae1fe532392b\"><tr><td></td><td></td><td class=\"c x3b9 y3882 w119 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls27d ws1\">Joint<span class=\"_ _216\"> </span></div></td><td class=\"c x3ba y3882 w11a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27d ws1\">Joint<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3bb y3883 w11c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1cf ws1\">ventures<span class=\"_ _216\"> </span></div></td><td class=\"c x3bc y3883 w11e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">ventures<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3b9 y3884 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3ba y3884 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y3885 w6b h10a\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised i<span class=\"ls1d7\">ncome <span class=\"ls1\">s<span class=\"ls1e8\">tatement</span></span></span><span class=\"ls1d7\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3bd y3885 w6c h10a\"><div class=\"t m0 x1ac hf9 y28f5 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Note<span class=\"ls1\"> </span></div></td><td class=\"c x3be y3886 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x361 y3886 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3887 w6b hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20b ws1\">Management an<span class=\"_ _1\"></span>d performance <span class=\"_ _1\"></span>fees (fro<span class=\"_ _1\"></span>m joint vent<span class=\"_ _1\"></span>ures and as<span class=\"_ _1\"></span>sets under <span class=\"_ _1\"></span>management)<span class=\"ls1\"> </span></div></td><td class=\"c x3bd y3887 w6c hfe\"><div class=\"t m0 x178 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x3bf y3887 w58 hfe\"><div class=\"t m0 x8f hfb y2967 ff42 fsba fc11 sc0 ls1df ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3887 w58 hfe\"><div class=\"t m0 x1ad hfb y2967 ff3f fsba fc4 sc0 ls208 ws1\">20<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3888 w6b hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1ed ws1\">Share of distributions<span class=\"_ _1\"></span> <span class=\"ls1\"> </span></div></td><td class=\"c x3bd y3888 w6c hfd\"><div class=\"t m0 x1a7 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3bf y3888 w58 hfd\"><div class=\"t m0 x8f hfb y28f7 ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3888 w58 hfd\"><div class=\"t m0 x1a4 hfb y28f7 ff3f fsba fc4 sc0 ls208 ws1\">72<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3889 w6b hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital retur<span class=\"_ _1\"></span>n <span class=\"ls1\"> </span></div></td><td class=\"c x3bd y3889 w6c hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3bf y3889 w58 hfe\"><div class=\"t m0 x1be hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x363 y3889 w58 hfe\"><div class=\"t m0 x16e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y388a w6b hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised b<span class=\"ls208\">alance <span class=\"ls1\">s<span class=\"ls1d7\">heet</span></span></span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y384c w6b hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">Loans<span class=\"ls1\"> </span></div></td><td class=\"c x3bd y384c w6c hfe\"><div class=\"t m0 x1a7 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3bf y384c w58 hfe\"><div class=\"t m0 x178 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(1,132)<span class=\"ls1\"> </span></div></td><td class=\"c x363 y384c w58 hfe\"><div class=\"t m0 x1a6 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(1,152)<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls220 ws1 gs495\">The <span class=\"ls20d\">Group\u2019s <span class=\"_ _1\"></span><span class=\"ls221\">net <span class=\"ls226\">closing<span class=\"ls1\"> <span class=\"ls1fc\">investme<span class=\"_ _0\"></span>nt</span>s <span class=\"ls1fc\">in and lo<span class=\"_ _0\"></span>ans to</span> <span class=\"ls1fc\">joint<span class=\"_ _0\"></span> ventures<span class=\"ls235\">, the<span class=\"_ _0\"></span> associated<span class=\"_ _0\"></span> </span></span></span>closing <span class=\"ls234\">provision <span class=\"_ _1\"></span><span class=\"ls231\">for<span class=\"ls1\"> <span class=\"ls1fc\">impa<span class=\"_ _0\"></span>irment and<span class=\"_ _0\"></span> </span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls233 ws1 gs496\">movement <span class=\"_ _1\"></span>in prov<span class=\"_ _1\"></span>ision<span class=\"ls1\"> <span class=\"ls231\">for impairment in the year</span> <span class=\"ls225\">are outlined below<span class=\"ls235\">. <span class=\"ls220\">The provision <span class=\"ls231\">for impairment</span></span></span></span> <span class=\"ls220\">of investments <span class=\"ls1fc\">in </span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls1fc ws1 gs497\">joint ventur<span class=\"_ _0\"></span>es is calculate<span class=\"_ _0\"></span>d in accorda<span class=\"_ _0\"></span>nce with IAS<span class=\"_ _0\"></span> 36<span class=\"ls1\">, <span class=\"ls225\">and</span> <span class=\"ls234\">provision for</span> </span>impairment<span class=\"_ _0\"></span> of loans<span class=\"ls1\"> <span class=\"ls222\">to joint ven<span class=\"_ _0\"></span>tures</span> </span>is </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls226 ws1 gs498\">calculated in accordance with IFRS <span class=\"ls220\">9 <span class=\"_ _1\"></span><span class=\"ls225\">as set out in Note 1.<span class=\"ls1\"> </span></span></span></div><div class=\"t m0 h10f ff4c fsc0 fc12 sc0 ls245 ws1 gs499\">Provision for impai<span class=\"_ _0\"></span>rment of <span class=\"ls240\">investments in join<span class=\"_ _1\"></span>t <span class=\"ls2a4\">ventures<span class=\"ls1\"> </span></span></span></div><div class=\"gs49a\"><table class=\"s w1fe h19a\" id=\"_f028718b-b51a-4ed8-9927-2379b8638537\"><tr><td></td><td></td><td></td><td></td><td class=\"c x3c0 y388b w56 h133\"><div class=\"t m0 xd3 hf9 y296e ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x3c1 y388b w56 h133\"><div class=\"t m0 xd3 hf9 y296e ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"c x3c2 y388c w1ff h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d3 ws1\">Closing<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3c3 y388c wc9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls218 ws1\">Movement in<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td class=\"c x3c4 y388c w200 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Closing<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3c5 y388c wca h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls218 ws1\">Movement in<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3c6 y388d w201 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Net c<span class=\"ls287\">losing<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x3c7 y388d w202 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">p<span class=\"ls271\">rovision for<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x3c3 y388e w203 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26c ws1\">provision for<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3c8 y388d w204 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Net c<span class=\"ls219\">losing<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x3c9 y388d w205 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1 ws1\">p<span class=\"ls217\">rovision for<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x3ca y388e w206 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">provision for<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3cb y388f w207 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls287 ws1\">investment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3cc y388f w208 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls287 ws1\">impairment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3cd y388f w208 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls287 ws1\">impairment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3ce y388f w209 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls219 ws1\">investment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3cf y388f w20a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls219 ws1\">impairment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3d0 y388f w20a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls219 ws1\">impairment<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x3d1 y3890 w20b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3d2 y3890 w20c h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3d3 y3890 w20b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3d4 y3890 w20c h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3d5 y3890 w20b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3d6 y3890 w20c h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3d7 y3890 w20d h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3d8 y3890 w157 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3d9 y3890 w20d h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3da y3890 w157 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3db y3890 w20d h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3dc y3890 w157 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x3dd y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3de y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3df y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e0 y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e1 y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e2 y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e3 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e4 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3c9 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e5 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3ca y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e6 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3892 w6d hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">Broadgate <span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3892 w6f hfd\"><div class=\"t m0 x1b5 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">810<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y3892 w6f hfd\"><div class=\"t m0 x1b2 hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">765<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3892 w6f hfd\"><div class=\"t m0 x178 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3892 w6f hfd\"><div class=\"t m0 x1a7 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y3892 w6f hfd\"><div class=\"t m0 x1a7 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3892 w6f hfd\"><div class=\"t m0 x1ae hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">12<span class=\"ls1\"> </span></div></td><td class=\"c x3c1 y3892 w6f hfd\"><div class=\"t m0 x1ca hfb y297c ff3f fsba fc4 sc0 ls1d7 ws1\">835<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y3892 w6f hfd\"><div class=\"t m0 x1ca hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">634<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3892 w6f hfd\"><div class=\"t m0 x178 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3892 w6c hfd\"><div class=\"t m0 x1cd hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3892 w70 hfd\"><div class=\"t m0 x1a7 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3892 w6c hfd\"><div class=\"t m0 x1a1 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">20<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3893 w6d hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20b ws1\">Meadowhall<span class=\"_ _216\"> </span></div><div class=\"t m0 x6d hff y2cab ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x1c4 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x3c0 y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e8 y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3893 w6f hfe\"><div class=\"t m0 x1a7 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y3893 w6f hfe\"><div class=\"t m0 x1a7 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3c1 y3893 w6f hfe\"><div class=\"t m0 x1a7 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3eb y3893 w6f hfe\"><div class=\"t m0 x1a7 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ec y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3893 w6c hfe\"><div class=\"t m0 x178 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ee y3893 w70 hfe\"><div class=\"t m0 x1b5 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">174<span class=\"ls1\"> </span></div></td><td class=\"c x3ef y3893 w6c hfe\"><div class=\"t m0 x1ab hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">199<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3894 w6d hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls27a ws1\">West On<span class=\"_ _1\"></span>e<span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3894 w6f hfd\"><div class=\"t m0 x1a5 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x3e7 y3894 w6f hfd\"><div class=\"t m0 x1cd hfb y28f7 ff42 fsba fc11 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3894 w6f hfd\"><div class=\"t m0 x1ae hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y3894 w6f hfd\"><div class=\"t m0 x1b2 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(20)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y3894 w6f hfd\"><div class=\"t m0 x1a7 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3894 w6f hfd\"><div class=\"t m0 x1b0 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x3c1 y3894 w6f hfd\"><div class=\"t m0 x198 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y3894 w6f hfd\"><div class=\"t m0 x194 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">17<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3894 w6f hfd\"><div class=\"t m0 x1ae hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x3ed y3894 w6c hfd\"><div class=\"t m0 x1cd hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3894 w70 hfd\"><div class=\"t m0 x1a7 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3894 w6c hfd\"><div class=\"t m0 x1a6 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td></tr><tr><td class=\"c x1f9 y3895 w6d hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">BL West End <span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3895 w6f hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y3895 w6f hfe\"><div class=\"t m0 x1a1 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">76<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3895 w6f hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3895 w6f hfe\"><div class=\"t m0 x1b2 hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(20)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y3895 w6f hfe\"><div class=\"t m0 x1a7 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3895 w6f hfe\"><div class=\"t m0 x199 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x3c1 y3895 w6f hfe\"><div class=\"t m0 x1a5 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x3eb y3895 w6f hfe\"><div class=\"t m0 x1ae hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3895 w6f hfe\"><div class=\"t m0 x178 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3895 w6c hfe\"><div class=\"t m0 x1b5 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(30)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3895 w70 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3895 w6c hfe\"><div class=\"t m0 x1ac hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(10)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3896 w6d hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d9 ws1\">Canada Water<span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3896 w6f hfd\"><div class=\"t m0 x178 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y3896 w6f hfd\"><div class=\"t m0 x1ca hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">290<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3896 w6f hfd\"><div class=\"t m0 x178 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3896 w6f hfd\"><div class=\"t m0 x1b8 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(134)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y3896 w6f hfd\"><div class=\"t m0 x1a7 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3896 w6f hfd\"><div class=\"t m0 x1b5 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(33)<span class=\"ls1\"> </span></div></td><td class=\"c x3c1 y3896 w6f hfd\"><div class=\"t m0 x1a7 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3eb y3896 w6f hfd\"><div class=\"t m0 x1ca hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">308<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3896 w6f hfd\"><div class=\"t m0 x178 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3896 w6c hfd\"><div class=\"t m0 x1b2 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(101)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3896 w70 hfd\"><div class=\"t m0 x1a7 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3896 w6c hfd\"><div class=\"t m0 x1cd hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3897 w6d hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington <span class=\"ls1d9\">Central</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3c0 y3897 w6f hfe\"><div class=\"t m0 x1b2 hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y3897 w6f hfe\"><div class=\"t m0 x178 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e8 y3897 w6f hfe\"><div class=\"t m0 x1a1 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(11)<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y3897 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y3897 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3897 w6f hfe\"><div class=\"t m0 x178 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3c1 y3897 w6f hfe\"><div class=\"t m0 x1b5 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">102<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y3897 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ec y3897 w6f hfe\"><div class=\"t m0 x199 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(11)<span class=\"ls1\"> </span></div></td><td class=\"c x3ed y3897 w6c hfe\"><div class=\"t m0 x178 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ee y3897 w70 hfe\"><div class=\"t m0 x199 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x3ef y3897 w6c hfe\"><div class=\"t m0 x178 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3898 w6d hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls204 ws1\">One<span class=\"ls1\"> <span class=\"ls1e0\">Triton Square</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3898 w6f hfd\"><div class=\"t m0 x1b5 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">168<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y3898 w6f hfd\"><div class=\"t m0 x1a1 hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">88<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3898 w6f hfd\"><div class=\"t m0 x178 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3898 w6f hfd\"><div class=\"t m0 x1a7 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y3898 w6f hfd\"><div class=\"t m0 x1a7 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3898 w6f hfd\"><div class=\"t m0 x1a7 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x3c1 y3898 w6f hfd\"><div class=\"t m0 x1ab hfb y292b ff3f fsba fc4 sc0 ls1dc ws1\">135<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y3898 w6f hfd\"><div class=\"t m0 x1a1 hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">74<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3898 w6f hfd\"><div class=\"t m0 x178 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3898 w6c hfd\"><div class=\"t m0 x1ae hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3898 w70 hfd\"><div class=\"t m0 x1a7 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3898 w6c hfd\"><div class=\"t m0 x1a5 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3899 w6d hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1ed ws1\">SouthGate <span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3899 w6f hfe\"><div class=\"t m0 x178 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y3899 w6f hfe\"><div class=\"t m0 x1a1 hfb y28d5 ff42 fsba fc11 sc0 ls1dd ws1\">77<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3899 w6f hfe\"><div class=\"t m0 x178 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3899 w6f hfe\"><div class=\"t m0 x1b5 hfb y28d5 ff42 fsba fc11 sc0 ls1da ws1\">(33)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y3899 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3899 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x3c1 y3899 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3eb y3899 w6f hfe\"><div class=\"t m0 x1cd hfb y28d5 ff3f fsba fc4 sc0 ls1e0 ws1\">69<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3899 w6f hfe\"><div class=\"t m0 x178 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3899 w6c hfe\"><div class=\"t m0 x1ab hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(38)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3899 w70 hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3899 w6c hfe\"><div class=\"t m0 x194 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">12<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y389a w6d hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls28c ws1\">Hercules Uni<span class=\"_ _1\"></span>t Trust<span class=\"ls1\"> <span class=\"ls1de\">JV</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y389a w6f hfd\"><div class=\"t m0 x178 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y389a w6f hfd\"><div class=\"t m0 x1ac hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">114<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y389a w6f hfd\"><div class=\"t m0 x178 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y389a w6f hfd\"><div class=\"t m0 x1a7 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y389a w6f hfd\"><div class=\"t m0 x1a7 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y389a w6f hfd\"><div class=\"t m0 x178 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3c1 y389a w6f hfd\"><div class=\"t m0 x1a7 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3eb y389a w6f hfd\"><div class=\"t m0 x1ac hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">110<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y389a w6f hfd\"><div class=\"t m0 x178 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y389a w6c hfd\"><div class=\"t m0 x178 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ee y389a w70 hfd\"><div class=\"t m0 x1a7 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y389a w6c hfd\"><div class=\"t m0 x178 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y389b w6d hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls204 ws1\">Other joi<span class=\"_ _1\"></span>nt ventures<span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y389b w6f hfe\"><div class=\"t m0 x1a1 hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y389b w6f hfe\"><div class=\"t m0 x1a1 hfb y28fc ff42 fsba fc11 sc0 ls1eb ws1\">63<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y389b w6f hfe\"><div class=\"t m0 x1ab hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(10)<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y389b w6f hfe\"><div class=\"t m0 x1ca hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(40)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y389b w6f hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y389b w6f hfe\"><div class=\"t m0 x199 hfb y28fc ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x3c1 y389b w6f hfe\"><div class=\"t m0 x1cd hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">42<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y389b w6f hfe\"><div class=\"t m0 x1ae hfb y28fc ff3f fsba fc4 sc0 ls1e0 ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y389b w6f hfe\"><div class=\"t m0 x1ac hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(10)<span class=\"ls1\"> </span></div></td><td class=\"c x3ed y389b w6c hfe\"><div class=\"t m0 x1b5 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(50)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y389b w70 hfe\"><div class=\"t m0 x1ab hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(10)<span class=\"ls1\"> </span></div></td><td class=\"c x3ef y389b w6c hfe\"><div class=\"t m0 x1a7 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td></tr><tr><td class=\"c x1f9 y389c w6d hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y389c w6f hfe\"><div class=\"t m0 x197 hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">1,108<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y389c w6f hfe\"><div class=\"t m0 x191 hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">1,503<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y389c w6f hfe\"><div class=\"t m0 x1b5 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y389c w6f hfe\"><div class=\"t m0 x1a9 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(247)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y389c w6f hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y389c w6f hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">8 </div></td><td class=\"c x3c1 y389c w6f hfe\"><div class=\"t m0 x1b8 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">1,128<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y389c w6f hfe\"><div class=\"t m0 x197 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">1,334<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y389c w6f hfe\"><div class=\"t m0 x1b5 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x3ed y389c w6c hfe\"><div class=\"t m0 x1b8 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(255)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y389c w70 hfe\"><div class=\"t m0 x1ac hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">161<span class=\"ls1\"> </span></div></td><td class=\"c x3ef y389c w6c hfe\"><div class=\"t m0 x1ab hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">194<span class=\"ls1\"> </span></div></td></tr></table></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fd ws1 gs49b\">1. <span class=\"ls1\"> <span class=\"_ _d\"></span><span class=\"ls1f1\">In the prior ye<span class=\"_ _0\"></span>ar, o<span class=\"ls200\">n 12 July 2024<span class=\"ls1\">, <span class=\"ls1f3\">the Group completed the disposal of its 50% sh<span class=\"_ _0\"></span>areholding in the <span class=\"ls296\">Meadowhall</span></span> <span class=\"ls1f0\">Shopping Centre joint<span class=\"_ _1\"></span> </span></span></span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls1fa ws1 gs49c\">venture.<span class=\"ls1\"> <span class=\"ls1fb\">The net closing investment</span> <span class=\"ls1f4\">and</span> <span class=\"ls1f4\">closing provision <span class=\"_ _1\"></span>for impairment as at 31 March 2025 <span class=\"ls1f3\">reflects the resulting nil Group share of </span></span></span></div><div class=\"t m0 h103 ff46 fsbd fc4 sc0 ls296 ws1 gs49d\">Meadowhall.<span class=\"ls1\"> <span class=\"ls1fb\">The movement</span> <span class=\"ls1f9\">in provision for impairment</span> <span class=\"ls1f9\">in th<span class=\"_ _0\"></span>e <span class=\"ls1f2\">prior <span class=\"ls1fe\">year</span></span></span> <span class=\"ls1f9\">is <span class=\"ls1f2\">due to the</span></span> <span class=\"ls1f2\">disposal.</span></span><span class=\"ls1\"><span class=\"ls1f2\"><span class=\"_ _1\"></span><span class=\"ls1\"> </span></span></span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-466": {
   "value": "22 <span class=\"_ _23\"> </span><span class=\"ls21b\">Related party <span class=\"ls283\">transactions</span></span> Directors<span class=\"_ _1\"></span> are the k<span class=\"_ _1\"></span>ey management pers<span class=\"_ _1\"></span>onnel and have<span class=\"_ _1\"></span> the author<span class=\"_ _1\"></span>ity and res<span class=\"_ _1\"></span>ponsibility<span class=\"_ _1\"></span> for planni<span class=\"_ _1\"></span>ng, direct<span class=\"_ _1\"></span>ing and controlling the activit<span class=\"_ _1\"></span>ies of the entity. Details <span class=\"_ _1\"></span>of Directors\u2019 remuneration are given in t<span class=\"_ _1\"></span>he Remuneration Report on pages<span class=\"ls1\"> <span class=\"ls22f\">100</span> <span class=\"ls222\">to <span class=\"ls22f\">114<span class=\"ls235\">. Det<span class=\"_ _0\"></span>ails of transa<span class=\"_ _0\"></span>ctions with T<span class=\"_ _0\"></span>he British La<span class=\"_ _0\"></span>nd Group <span class=\"_ _0\"></span>of Compa<span class=\"_ _0\"></span>nies Pension<span class=\"_ _0\"></span> Scheme, a<span class=\"_ _0\"></span>nd other </span></span></span></span>smaller<span class=\"ls1\"> <span class=\"ls234\">pension schemes, are <span class=\"_ _1\"></span>given in Note 9.<span class=\"ls1\"> <span class=\"ls20d\">Deta<span class=\"_ _1\"></span>ils of tr<span class=\"_ _1\"></span>ansactions <span class=\"_ _1\"></span>with joint <span class=\"_ _1\"></span>ventures ar<span class=\"_ _1\"></span>e given in <span class=\"_ _1\"></span><span class=\"ls1ec\">Note<span class=\"ls1\">s <span class=\"ls221\">3 and <span class=\"ls22f\">11 </span></span></span></span></span></span></span></span>and<span class=\"ls1\"> <span class=\"ls220\">outlined below.</span> </span><table class=\"s w1fd h199\" id=\"_04adf9cf-0668-42d7-aeae-ae1fe532392b\"><tr><td></td><td></td><td class=\"c x3b9 y3882 w119 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls27d ws1\">Joint<span class=\"_ _216\"> </span></div></td><td class=\"c x3ba y3882 w11a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27d ws1\">Joint<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3bb y3883 w11c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1cf ws1\">ventures<span class=\"_ _216\"> </span></div></td><td class=\"c x3bc y3883 w11e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">ventures<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3b9 y3884 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3ba y3884 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y3885 w6b h10a\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised i<span class=\"ls1d7\">ncome <span class=\"ls1\">s<span class=\"ls1e8\">tatement</span></span></span><span class=\"ls1d7\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3bd y3885 w6c h10a\"><div class=\"t m0 x1ac hf9 y28f5 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Note<span class=\"ls1\"> </span></div></td><td class=\"c x3be y3886 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x361 y3886 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3887 w6b hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20b ws1\">Management an<span class=\"_ _1\"></span>d performance <span class=\"_ _1\"></span>fees (fro<span class=\"_ _1\"></span>m joint vent<span class=\"_ _1\"></span>ures and as<span class=\"_ _1\"></span>sets under <span class=\"_ _1\"></span>management)<span class=\"ls1\"> </span></div></td><td class=\"c x3bd y3887 w6c hfe\"><div class=\"t m0 x178 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x3bf y3887 w58 hfe\"><div class=\"t m0 x8f hfb y2967 ff42 fsba fc11 sc0 ls1df ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3887 w58 hfe\"><div class=\"t m0 x1ad hfb y2967 ff3f fsba fc4 sc0 ls208 ws1\">20<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3888 w6b hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1ed ws1\">Share of distributions<span class=\"_ _1\"></span> <span class=\"ls1\"> </span></div></td><td class=\"c x3bd y3888 w6c hfd\"><div class=\"t m0 x1a7 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3bf y3888 w58 hfd\"><div class=\"t m0 x8f hfb y28f7 ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3888 w58 hfd\"><div class=\"t m0 x1a4 hfb y28f7 ff3f fsba fc4 sc0 ls208 ws1\">72<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3889 w6b hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital retur<span class=\"_ _1\"></span>n <span class=\"ls1\"> </span></div></td><td class=\"c x3bd y3889 w6c hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3bf y3889 w58 hfe\"><div class=\"t m0 x1be hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x363 y3889 w58 hfe\"><div class=\"t m0 x16e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y388a w6b hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised b<span class=\"ls208\">alance <span class=\"ls1\">s<span class=\"ls1d7\">heet</span></span></span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y384c w6b hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">Loans<span class=\"ls1\"> </span></div></td><td class=\"c x3bd y384c w6c hfe\"><div class=\"t m0 x1a7 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3bf y384c w58 hfe\"><div class=\"t m0 x178 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(1,132)<span class=\"ls1\"> </span></div></td><td class=\"c x363 y384c w58 hfe\"><div class=\"t m0 x1a6 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(1,152)<span class=\"ls1\"> </span></div></td></tr></table>The <span class=\"ls20d\">Group\u2019s <span class=\"_ _1\"></span><span class=\"ls221\">net <span class=\"ls226\">closing<span class=\"ls1\"> <span class=\"ls1fc\">investme<span class=\"_ _0\"></span>nt</span>s <span class=\"ls1fc\">in and lo<span class=\"_ _0\"></span>ans to</span> <span class=\"ls1fc\">joint<span class=\"_ _0\"></span> ventures<span class=\"ls235\">, the<span class=\"_ _0\"></span> associated<span class=\"_ _0\"></span> </span></span></span>closing <span class=\"ls234\">provision <span class=\"_ _1\"></span><span class=\"ls231\">for<span class=\"ls1\"> <span class=\"ls1fc\">impa<span class=\"_ _0\"></span>irment and<span class=\"_ _0\"></span> </span></span></span></span></span></span></span>movement <span class=\"_ _1\"></span>in prov<span class=\"_ _1\"></span>ision<span class=\"ls1\"> <span class=\"ls231\">for impairment in the year</span> <span class=\"ls225\">are outlined below<span class=\"ls235\">. <span class=\"ls220\">The provision <span class=\"ls231\">for impairment</span></span></span></span> <span class=\"ls220\">of investments <span class=\"ls1fc\">in </span></span></span>joint ventur<span class=\"_ _0\"></span>es is calculate<span class=\"_ _0\"></span>d in accorda<span class=\"_ _0\"></span>nce with IAS<span class=\"_ _0\"></span> 36<span class=\"ls1\">, <span class=\"ls225\">and</span> <span class=\"ls234\">provision for</span> </span>impairment<span class=\"_ _0\"></span> of loans<span class=\"ls1\"> <span class=\"ls222\">to joint ven<span class=\"_ _0\"></span>tures</span> </span>is calculated in accordance with IFRS <span class=\"ls220\">9 <span class=\"_ _1\"></span><span class=\"ls225\">as set out in Note 1.<span class=\"ls1\"> </span></span></span>Provision for impai<span class=\"_ _0\"></span>rment of <span class=\"ls240\">investments in join<span class=\"_ _1\"></span>t <span class=\"ls2a4\">ventures<span class=\"ls1\"> </span></span></span><table class=\"s w1fe h19a\" id=\"_f028718b-b51a-4ed8-9927-2379b8638537\"><tr><td></td><td></td><td></td><td></td><td class=\"c x3c0 y388b w56 h133\"><div class=\"t m0 xd3 hf9 y296e ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6</span><span class=\"ls1\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td class=\"c x3c1 y388b w56 h133\"><div class=\"t m0 xd3 hf9 y296e ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5</span><span class=\"ls1\"> </span></div></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"c x3c2 y388c w1ff h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d3 ws1\">Closing<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3c3 y388c wc9 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls218 ws1\">Movement in<span class=\"_ _216\"> </span></div></td><td></td><td></td><td></td><td class=\"c x3c4 y388c w200 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Closing<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3c5 y388c wca h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls218 ws1\">Movement in<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3c6 y388d w201 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d0 ws1\">Net c<span class=\"ls287\">losing<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x3c7 y388d w202 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1 ws1\">p<span class=\"ls271\">rovision for<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x3c3 y388e w203 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls26c ws1\">provision for<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3c8 y388d w204 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Net c<span class=\"ls219\">losing<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x3c9 y388d w205 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1 ws1\">p<span class=\"ls217\">rovision for<span class=\"_ _216\"> </span></span></div></td><td></td><td class=\"c x3ca y388e w206 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">provision for<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3cb y388f w207 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls287 ws1\">investment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3cc y388f w208 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls287 ws1\">impairment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3cd y388f w208 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls287 ws1\">impairment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3ce y388f w209 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls219 ws1\">investment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3cf y388f w20a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls219 ws1\">impairment<span class=\"_ _216\"> </span></div></td><td></td><td class=\"c x3d0 y388f w20a h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls219 ws1\">impairment<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x3d1 y3890 w20b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3d2 y3890 w20c h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3d3 y3890 w20b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3d4 y3890 w20c h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3d5 y3890 w20b h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3d6 y3890 w20c h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3d7 y3890 w20d h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3d8 y3890 w157 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3d9 y3890 w20d h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3da y3890 w157 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td><td class=\"c x3db y3890 w20d h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls235 ws1\">Loan<span class=\"_ _216\"> </span></div></td><td class=\"c x3dc y3890 w157 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls215 ws1\">Equity<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td class=\"c x3dd y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3de y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3df y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e0 y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e1 y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e2 y3891 w8e h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e3 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e4 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3c9 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e5 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3ca y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x3e6 y3891 wa6 h14b\"><div class=\"t m0 x1e7 hf9 y3481 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3892 w6d hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">Broadgate <span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3892 w6f hfd\"><div class=\"t m0 x1b5 hfb y297c ff42 fsba fc11 sc0 ls1d7 ws1\">810<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y3892 w6f hfd\"><div class=\"t m0 x1b2 hfb y297c ff42 fsba fc11 sc0 ls1dd ws1\">765<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3892 w6f hfd\"><div class=\"t m0 x178 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3892 w6f hfd\"><div class=\"t m0 x1a7 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y3892 w6f hfd\"><div class=\"t m0 x1a7 hfb y297c ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3892 w6f hfd\"><div class=\"t m0 x1ae hfb y297c ff42 fsba fc11 sc0 ls1df ws1\">12<span class=\"ls1\"> </span></div></td><td class=\"c x3c1 y3892 w6f hfd\"><div class=\"t m0 x1ca hfb y297c ff3f fsba fc4 sc0 ls1d7 ws1\">835<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y3892 w6f hfd\"><div class=\"t m0 x1ca hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">634<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3892 w6f hfd\"><div class=\"t m0 x178 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3892 w6c hfd\"><div class=\"t m0 x1cd hfb y297c ff3f fsba fc4 sc0 ls1db ws1\">(12)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3892 w70 hfd\"><div class=\"t m0 x1a7 hfb y297c ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3892 w6c hfd\"><div class=\"t m0 x1a1 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">20<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3893 w6d hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20b ws1\">Meadowhall<span class=\"_ _216\"> </span></div><div class=\"t m0 x6d hff y2cab ff44 fsbc fc4 sc0 ls1 ws1\">1</div><div class=\"t m0 x1c4 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\"> </div></td><td class=\"c x3c0 y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e8 y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3893 w6f hfe\"><div class=\"t m0 x1a7 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y3893 w6f hfe\"><div class=\"t m0 x1a7 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3c1 y3893 w6f hfe\"><div class=\"t m0 x1a7 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3eb y3893 w6f hfe\"><div class=\"t m0 x1a7 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ec y3893 w6f hfe\"><div class=\"t m0 x178 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3893 w6c hfe\"><div class=\"t m0 x178 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ee y3893 w70 hfe\"><div class=\"t m0 x1b5 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">174<span class=\"ls1\"> </span></div></td><td class=\"c x3ef y3893 w6c hfe\"><div class=\"t m0 x1ab hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">199<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3894 w6d hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls27a ws1\">West On<span class=\"_ _1\"></span>e<span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3894 w6f hfd\"><div class=\"t m0 x1a5 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">4 </div></td><td class=\"c x3e7 y3894 w6f hfd\"><div class=\"t m0 x1cd hfb y28f7 ff42 fsba fc11 sc0 ls1dd ws1\">30<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3894 w6f hfd\"><div class=\"t m0 x1ae hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y3894 w6f hfd\"><div class=\"t m0 x1b2 hfb y28f7 ff42 fsba fc11 sc0 ls1da ws1\">(20)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y3894 w6f hfd\"><div class=\"t m0 x1a7 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3894 w6f hfd\"><div class=\"t m0 x1b0 hfb y28f7 ff42 fsba fc11 sc0 ls1 ws1\">1 </div></td><td class=\"c x3c1 y3894 w6f hfd\"><div class=\"t m0 x198 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y3894 w6f hfd\"><div class=\"t m0 x194 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">17<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3894 w6f hfd\"><div class=\"t m0 x1ae hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x3ed y3894 w6c hfd\"><div class=\"t m0 x1cd hfb y28f7 ff3f fsba fc4 sc0 ls1db ws1\">(21)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3894 w70 hfd\"><div class=\"t m0 x1a7 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3894 w6c hfd\"><div class=\"t m0 x1a6 hfb y28f7 ff3f fsba fc4 sc0 ls1 ws1\">1 </div></td></tr><tr><td class=\"c x1f9 y3895 w6d hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">BL West End <span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3895 w6f hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y3895 w6f hfe\"><div class=\"t m0 x1a1 hfb y2912 ff42 fsba fc11 sc0 ls1dd ws1\">76<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3895 w6f hfe\"><div class=\"t m0 x178 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3895 w6f hfe\"><div class=\"t m0 x1b2 hfb y2912 ff42 fsba fc11 sc0 ls1da ws1\">(20)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y3895 w6f hfe\"><div class=\"t m0 x1a7 hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3895 w6f hfe\"><div class=\"t m0 x199 hfb y2912 ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x3c1 y3895 w6f hfe\"><div class=\"t m0 x1a5 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x3eb y3895 w6f hfe\"><div class=\"t m0 x1ae hfb y2912 ff3f fsba fc4 sc0 ls1e0 ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3895 w6f hfe\"><div class=\"t m0 x178 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3895 w6c hfe\"><div class=\"t m0 x1b5 hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(30)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3895 w70 hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3895 w6c hfe\"><div class=\"t m0 x1ac hfb y2912 ff3f fsba fc4 sc0 ls1db ws1\">(10)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3896 w6d hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d9 ws1\">Canada Water<span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3896 w6f hfd\"><div class=\"t m0 x178 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y3896 w6f hfd\"><div class=\"t m0 x1ca hfb y2928 ff42 fsba fc11 sc0 ls1d7 ws1\">290<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3896 w6f hfd\"><div class=\"t m0 x178 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3896 w6f hfd\"><div class=\"t m0 x1b8 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(134)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y3896 w6f hfd\"><div class=\"t m0 x1a7 hfb y2928 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3896 w6f hfd\"><div class=\"t m0 x1b5 hfb y2928 ff42 fsba fc11 sc0 ls1da ws1\">(33)<span class=\"ls1\"> </span></div></td><td class=\"c x3c1 y3896 w6f hfd\"><div class=\"t m0 x1a7 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3eb y3896 w6f hfd\"><div class=\"t m0 x1ca hfb y2928 ff3f fsba fc4 sc0 ls1dd ws1\">308<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3896 w6f hfd\"><div class=\"t m0 x178 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3896 w6c hfd\"><div class=\"t m0 x1b2 hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(101)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3896 w70 hfd\"><div class=\"t m0 x1a7 hfb y2928 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3896 w6c hfd\"><div class=\"t m0 x1cd hfb y2928 ff3f fsba fc4 sc0 ls1db ws1\">(31)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3897 w6d hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington <span class=\"ls1d9\">Central</span><span class=\"ls1d9\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3c0 y3897 w6f hfe\"><div class=\"t m0 x1b2 hfb y28d7 ff42 fsba fc11 sc0 ls1df ws1\">100<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y3897 w6f hfe\"><div class=\"t m0 x178 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e8 y3897 w6f hfe\"><div class=\"t m0 x1a1 hfb y28d7 ff42 fsba fc11 sc0 ls1da ws1\">(11)<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y3897 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y3897 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3897 w6f hfe\"><div class=\"t m0 x178 hfb y28d7 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3c1 y3897 w6f hfe\"><div class=\"t m0 x1b5 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">102<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y3897 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ec y3897 w6f hfe\"><div class=\"t m0 x199 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(11)<span class=\"ls1\"> </span></div></td><td class=\"c x3ed y3897 w6c hfe\"><div class=\"t m0 x178 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ee y3897 w70 hfe\"><div class=\"t m0 x199 hfb y28d7 ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x3ef y3897 w6c hfe\"><div class=\"t m0 x178 hfb y28d7 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y3898 w6d hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls204 ws1\">One<span class=\"ls1\"> <span class=\"ls1e0\">Triton Square</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3898 w6f hfd\"><div class=\"t m0 x1b5 hfb y292b ff42 fsba fc11 sc0 ls1df ws1\">168<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y3898 w6f hfd\"><div class=\"t m0 x1a1 hfb y292b ff42 fsba fc11 sc0 ls1d7 ws1\">88<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3898 w6f hfd\"><div class=\"t m0 x178 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3898 w6f hfd\"><div class=\"t m0 x1a7 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y3898 w6f hfd\"><div class=\"t m0 x1a7 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3898 w6f hfd\"><div class=\"t m0 x1a7 hfb y292b ff42 fsba fc11 sc0 ls1 ws1\">3 </div></td><td class=\"c x3c1 y3898 w6f hfd\"><div class=\"t m0 x1ab hfb y292b ff3f fsba fc4 sc0 ls1dc ws1\">135<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y3898 w6f hfd\"><div class=\"t m0 x1a1 hfb y292b ff3f fsba fc4 sc0 ls208 ws1\">74<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3898 w6f hfd\"><div class=\"t m0 x178 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3898 w6c hfd\"><div class=\"t m0 x1ae hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(3)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3898 w70 hfd\"><div class=\"t m0 x1a7 hfb y292b ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3898 w6c hfd\"><div class=\"t m0 x1a5 hfb y292b ff3f fsba fc4 sc0 ls1db ws1\">(1)<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3899 w6d hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1ed ws1\">SouthGate <span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y3899 w6f hfe\"><div class=\"t m0 x178 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y3899 w6f hfe\"><div class=\"t m0 x1a1 hfb y28d5 ff42 fsba fc11 sc0 ls1dd ws1\">77<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y3899 w6f hfe\"><div class=\"t m0 x178 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y3899 w6f hfe\"><div class=\"t m0 x1b5 hfb y28d5 ff42 fsba fc11 sc0 ls1da ws1\">(33)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y3899 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y3899 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff42 fsba fc11 sc0 ls1 ws1\">5 </div></td><td class=\"c x3c1 y3899 w6f hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3eb y3899 w6f hfe\"><div class=\"t m0 x1cd hfb y28d5 ff3f fsba fc4 sc0 ls1e0 ws1\">69<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y3899 w6f hfe\"><div class=\"t m0 x178 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y3899 w6c hfe\"><div class=\"t m0 x1ab hfb y28d5 ff3f fsba fc4 sc0 ls1db ws1\">(38)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y3899 w70 hfe\"><div class=\"t m0 x1a7 hfb y28d5 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y3899 w6c hfe\"><div class=\"t m0 x194 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">12<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y389a w6d hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls28c ws1\">Hercules Uni<span class=\"_ _1\"></span>t Trust<span class=\"ls1\"> <span class=\"ls1de\">JV</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y389a w6f hfd\"><div class=\"t m0 x178 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e7 y389a w6f hfd\"><div class=\"t m0 x1ac hfb y2be8 ff42 fsba fc11 sc0 ls1df ws1\">114<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y389a w6f hfd\"><div class=\"t m0 x178 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x2bc y389a w6f hfd\"><div class=\"t m0 x1a7 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3e9 y389a w6f hfd\"><div class=\"t m0 x1a7 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y389a w6f hfd\"><div class=\"t m0 x178 hfb y2be8 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3c1 y389a w6f hfd\"><div class=\"t m0 x1a7 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3eb y389a w6f hfd\"><div class=\"t m0 x1ac hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">110<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y389a w6f hfd\"><div class=\"t m0 x178 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ed y389a w6c hfd\"><div class=\"t m0 x178 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ee y389a w70 hfd\"><div class=\"t m0 x1a7 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ef y389a w6c hfd\"><div class=\"t m0 x178 hfb y2be8 ff3f fsba fc4 sc0 ls1 ws1\">\u2013 </div></td></tr><tr><td class=\"c x1f9 y389b w6d hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls204 ws1\">Other joi<span class=\"_ _1\"></span>nt ventures<span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y389b w6f hfe\"><div class=\"t m0 x1a1 hfb y28fc ff42 fsba fc11 sc0 ls1d7 ws1\">26<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y389b w6f hfe\"><div class=\"t m0 x1a1 hfb y28fc ff42 fsba fc11 sc0 ls1eb ws1\">63<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y389b w6f hfe\"><div class=\"t m0 x1ab hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(10)<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y389b w6f hfe\"><div class=\"t m0 x1ca hfb y28fc ff42 fsba fc11 sc0 ls1da ws1\">(40)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y389b w6f hfe\"><div class=\"t m0 x1a7 hfb y28fc ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y389b w6f hfe\"><div class=\"t m0 x199 hfb y28fc ff42 fsba fc11 sc0 ls1df ws1\">10<span class=\"ls1\"> </span></div></td><td class=\"c x3c1 y389b w6f hfe\"><div class=\"t m0 x1cd hfb y28fc ff3f fsba fc4 sc0 ls1d8 ws1\">42<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y389b w6f hfe\"><div class=\"t m0 x1ae hfb y28fc ff3f fsba fc4 sc0 ls1e0 ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y389b w6f hfe\"><div class=\"t m0 x1ac hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(10)<span class=\"ls1\"> </span></div></td><td class=\"c x3ed y389b w6c hfe\"><div class=\"t m0 x1b5 hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(50)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y389b w70 hfe\"><div class=\"t m0 x1ab hfb y28fc ff3f fsba fc4 sc0 ls1db ws1\">(10)<span class=\"ls1\"> </span></div></td><td class=\"c x3ef y389b w6c hfe\"><div class=\"t m0 x1a7 hfb y28fc ff3f fsba fc4 sc0 ls1 ws1\">4 </div></td></tr><tr><td class=\"c x1f9 y389c w6d hfe\"><div class=\"t m0 x0 hfb y28e6 ff42 fsba fc4 sc0 ls1e0 ws1\">Total<span class=\"ls1\"> </span></div></td><td class=\"c x3c0 y389c w6f hfe\"><div class=\"t m0 x197 hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">1,108<span class=\"ls1\"> </span></div></td><td class=\"c x3e7 y389c w6f hfe\"><div class=\"t m0 x191 hfb y28e6 ff42 fsba fc11 sc0 ls1df ws1\">1,503<span class=\"ls1\"> </span></div></td><td class=\"c x3e8 y389c w6f hfe\"><div class=\"t m0 x1b5 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x2bc y389c w6f hfe\"><div class=\"t m0 x1a9 hfb y28e6 ff42 fsba fc11 sc0 ls1da ws1\">(247)<span class=\"ls1\"> </span></div></td><td class=\"c x3e9 y389c w6f hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x3ea y389c w6f hfe\"><div class=\"t m0 x1a7 hfb y28e6 ff42 fsba fc11 sc0 ls1 ws1\">8 </div></td><td class=\"c x3c1 y389c w6f hfe\"><div class=\"t m0 x1b8 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">1,128<span class=\"ls1\"> </span></div></td><td class=\"c x3eb y389c w6f hfe\"><div class=\"t m0 x197 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">1,334<span class=\"ls1\"> </span></div></td><td class=\"c x3ec y389c w6f hfe\"><div class=\"t m0 x1b5 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(24)<span class=\"ls1\"> </span></div></td><td class=\"c x3ed y389c w6c hfe\"><div class=\"t m0 x1b8 hfb y28e6 ff3f fsba fc4 sc0 ls1db ws1\">(255)<span class=\"ls1\"> </span></div></td><td class=\"c x3ee y389c w70 hfe\"><div class=\"t m0 x1ac hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">161<span class=\"ls1\"> </span></div></td><td class=\"c x3ef y389c w6c hfe\"><div class=\"t m0 x1ab hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">194<span class=\"ls1\"> </span></div></td></tr></table>1. <span class=\"ls1\"> <span class=\"_ _d\"></span><span class=\"ls1f1\">In the prior ye<span class=\"_ _0\"></span>ar, o<span class=\"ls200\">n 12 July 2024<span class=\"ls1\">, <span class=\"ls1f3\">the Group completed the disposal of its 50% sh<span class=\"_ _0\"></span>areholding in the <span class=\"ls296\">Meadowhall</span></span> <span class=\"ls1f0\">Shopping Centre joint<span class=\"_ _1\"></span> </span></span></span></span></span>venture.<span class=\"ls1\"> <span class=\"ls1fb\">The net closing investment</span> <span class=\"ls1f4\">and</span> <span class=\"ls1f4\">closing provision <span class=\"_ _1\"></span>for impairment as at 31 March 2025 <span class=\"ls1f3\">reflects the resulting nil Group share of </span></span></span>Meadowhall.<span class=\"ls1\"> <span class=\"ls1fb\">The movement</span> <span class=\"ls1f9\">in provision for impairment</span> <span class=\"ls1f9\">in th<span class=\"_ _0\"></span>e <span class=\"ls1f2\">prior <span class=\"ls1fe\">year</span></span></span> <span class=\"ls1f9\">is <span class=\"ls1f2\">due to the</span></span> <span class=\"ls1f2\">disposal.</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-476": {
   "value": "Directors<span class=\"_ _1\"></span> are the k<span class=\"_ _1\"></span>ey management pers<span class=\"_ _1\"></span>onnel and have<span class=\"_ _1\"></span> the author<span class=\"_ _1\"></span>ity and res<span class=\"_ _1\"></span>ponsibility<span class=\"_ _1\"></span> for planni<span class=\"_ _1\"></span>ng, direct<span class=\"_ _1\"></span>ing and controlling the activit<span class=\"_ _1\"></span>ies of the entity. Details <span class=\"_ _1\"></span>of Directors\u2019 remuneration are given in t<span class=\"_ _1\"></span>he Remuneration Report on pages<span class=\"ls1\"> <span class=\"ls22f\">100</span> <span class=\"ls222\">to <span class=\"ls22f\">114<span class=\"ls235\">. Det<span class=\"_ _0\"></span>ails of transa<span class=\"_ _0\"></span>ctions with T<span class=\"_ _0\"></span>he British La<span class=\"_ _0\"></span>nd Group <span class=\"_ _0\"></span>of Compa<span class=\"_ _0\"></span>nies Pension<span class=\"_ _0\"></span> Scheme, a<span class=\"_ _0\"></span>nd other </span></span></span></span>smaller<span class=\"ls1\"> <span class=\"ls234\">pension schemes, are <span class=\"_ _1\"></span>given in Note 9.<span class=\"ls1\"> <span class=\"ls20d\">Deta<span class=\"_ _1\"></span>ils of tr<span class=\"_ _1\"></span>ansactions <span class=\"_ _1\"></span>with joint <span class=\"_ _1\"></span>ventures ar<span class=\"_ _1\"></span>e given in <span class=\"_ _1\"></span><span class=\"ls1ec\">Note<span class=\"ls1\">s <span class=\"ls221\">3 and <span class=\"ls22f\">11 </span></span></span></span></span></span></span></span>and<span class=\"ls1\"> <span class=\"ls220\">outlined below.</span> </span><table class=\"s w1fd h199\" id=\"_04adf9cf-0668-42d7-aeae-ae1fe532392b\"><tr><td></td><td></td><td class=\"c x3b9 y3882 w119 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls27d ws1\">Joint<span class=\"_ _216\"> </span></div></td><td class=\"c x3ba y3882 w11a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls27d ws1\">Joint<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3bb y3883 w11c h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1cf ws1\">ventures<span class=\"_ _216\"> </span></div></td><td class=\"c x3bc y3883 w11e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">ventures<span class=\"_ _216\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c x3b9 y3884 w94 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1ce ws1\">202<span class=\"ls1\">6<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3ba y3884 w95 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1cf ws1\">202<span class=\"ls1\">5<span class=\"_ _216\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y3885 w6b h10a\"><div class=\"t m0 x0 hfb y28e8 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised i<span class=\"ls1d7\">ncome <span class=\"ls1\">s<span class=\"ls1e8\">tatement</span></span></span><span class=\"ls1d7\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3bd y3885 w6c h10a\"><div class=\"t m0 x1ac hf9 y28f5 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Note<span class=\"ls1\"> </span></div></td><td class=\"c x3be y3886 w8e h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3e fsb9 fc11 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td><td class=\"c x361 y3886 wa6 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d2 ws1\">\u00a3m<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3887 w6b hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls20b ws1\">Management an<span class=\"_ _1\"></span>d performance <span class=\"_ _1\"></span>fees (fro<span class=\"_ _1\"></span>m joint vent<span class=\"_ _1\"></span>ures and as<span class=\"_ _1\"></span>sets under <span class=\"_ _1\"></span>management)<span class=\"ls1\"> </span></div></td><td class=\"c x3bd y3887 w6c hfe\"><div class=\"t m0 x178 hfb y2967 ff3f fsba fc4 sc0 ls1 ws1\">3 </div></td><td class=\"c x3bf y3887 w58 hfe\"><div class=\"t m0 x8f hfb y2967 ff42 fsba fc11 sc0 ls1df ws1\">19<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3887 w58 hfe\"><div class=\"t m0 x1ad hfb y2967 ff3f fsba fc4 sc0 ls208 ws1\">20<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3888 w6b hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1ed ws1\">Share of distributions<span class=\"_ _1\"></span> <span class=\"ls1\"> </span></div></td><td class=\"c x3bd y3888 w6c hfd\"><div class=\"t m0 x1a7 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3bf y3888 w58 hfd\"><div class=\"t m0 x8f hfb y28f7 ff42 fsba fc11 sc0 ls1eb ws1\">61<span class=\"ls1\"> </span></div></td><td class=\"c x363 y3888 w58 hfd\"><div class=\"t m0 x1a4 hfb y28f7 ff3f fsba fc4 sc0 ls208 ws1\">72<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3889 w6b hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d9 ws1\">Capital retur<span class=\"_ _1\"></span>n <span class=\"ls1\"> </span></div></td><td class=\"c x3bd y3889 w6c hfe\"><div class=\"t m0 x1a7 hfb y2912 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3bf y3889 w58 hfe\"><div class=\"t m0 x1be hfb y2912 ff42 fsba fc11 sc0 ls1 ws1\">\u2013 </div></td><td class=\"c x363 y3889 w58 hfe\"><div class=\"t m0 x16e hfb y2912 ff3f fsba fc4 sc0 ls1 ws1\">2 </div></td></tr><tr><td class=\"c x1f9 y388a w6b hfe\"><div class=\"t m0 x0 hfb y2914 ff42 fsba fc4 sc0 ls1ed ws1\">Summarised b<span class=\"ls208\">alance <span class=\"ls1\">s<span class=\"ls1d7\">heet</span></span></span><span class=\"ls208\"><span class=\"ls1\"> </span></span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c x1f9 y384c w6b hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1dd ws1\">Loans<span class=\"ls1\"> </span></div></td><td class=\"c x3bd y384c w6c hfe\"><div class=\"t m0 x1a7 hfb y2943 ff3f fsba fc4 sc0 ls1dc ws1\">11<span class=\"ls1\"> </span></div></td><td class=\"c x3bf y384c w58 hfe\"><div class=\"t m0 x178 hfb y2943 ff42 fsba fc11 sc0 ls1da ws1\">(1,132)<span class=\"ls1\"> </span></div></td><td class=\"c x363 y384c w58 hfe\"><div class=\"t m0 x1a6 hfb y2943 ff3f fsba fc4 sc0 ls1db ws1\">(1,152)<span class=\"ls1\"> </span></div></td></tr></table>The <span class=\"ls20d\">Group\u2019s <span class=\"_ _1\"></span><span class=\"ls221\">net <span class=\"ls226\">closing<span class=\"ls1\"> <span class=\"ls1fc\">investme<span class=\"_ _0\"></span>nt</span>s <span class=\"ls1fc\">in and lo<span class=\"_ _0\"></span>ans to</span> <span class=\"ls1fc\">joint<span class=\"_ _0\"></span> ventures<span class=\"ls235\">, the<span class=\"_ _0\"></span> associated<span class=\"_ _0\"></span> </span></span></span>closing <span class=\"ls234\">provision <span class=\"_ _1\"></span><span class=\"ls231\">for<span class=\"ls1\"> <span class=\"ls1fc\">impa<span class=\"_ _0\"></span>irment and<span class=\"_ _0\"></span> </span></span></span></span></span></span></span>movement <span class=\"_ _1\"></span>in prov<span class=\"_ _1\"></span>ision<span class=\"ls1\"> <span class=\"ls231\">for impairment in the year</span> <span class=\"ls225\">are outlined below<span class=\"ls235\">. <span class=\"ls220\">The provision <span class=\"ls231\">for impairment</span></span></span></span> <span class=\"ls220\">of investments <span class=\"ls1fc\">in </span></span></span>joint ventur<span class=\"_ _0\"></span>es is calculate<span class=\"_ _0\"></span>d in accorda<span class=\"_ _0\"></span>nce with IAS<span class=\"_ _0\"></span> 36<span class=\"ls1\">, <span class=\"ls225\">and</span> <span class=\"ls234\">provision for</span> </span>impairment<span class=\"_ _0\"></span> of loans<span class=\"ls1\"> <span class=\"ls222\">to joint ven<span class=\"_ _0\"></span>tures</span> </span>is calculated in accordance with IFRS <span class=\"ls220\">9 <span class=\"_ _1\"></span><span class=\"ls225\">as set out in Note 1.<span class=\"ls1\"> </span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-467": {
   "value": "23 <span class=\"_ _23\"> </span><span class=\"ls273\">Contingent liabilities</span> Group and joi<span class=\"_ _0\"></span>nt ventures<span class=\"ls1\"> </span>The Group and joint <span class=\"_ _1\"></span>ventures have contingent <span class=\"_ _1\"></span>liabilities <span class=\"_ _1\"></span>in respect of lega<span class=\"_ _1\"></span>l claims, guarantees<span class=\"_ _1\"></span> and warranties <span class=\"ls225\">arising i<span class=\"_ _1\"></span>n </span>the ordinary course of bu<span class=\"_ _0\"></span>siness. It is not anticipated that any ma<span class=\"_ _0\"></span>terial liabilities will arise from these contingent liabilities.<span class=\"ls1\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-445": {
   "value": "<div class=\"t m0 h10d ff49 fsbe fc11 sc0 ls1 ws1 gs4a4\">24 <span class=\"_ _23\"> </span><span class=\"ls279\">Subsequent events</span> </div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls248 ws1 gs4a5\">On <span class=\"_ _0\"></span>20 <span class=\"_ _4\"></span>April 2026, <span class=\"_ _4\"></span>post<span class=\"ls1\"> <span class=\"_ _0\"></span><span class=\"ls223\">year <span class=\"_ _4\"></span>end, <span class=\"_ _0\"></span>the <span class=\"_ _4\"></span>Group <span class=\"_ _0\"></span>completed <span class=\"_ _4\"></span>the <span class=\"_ _0\"></span>acquisition <span class=\"_ _4\"></span>of <span class=\"_ _0\"></span>Life <span class=\"_ _4\"></span>Science <span class=\"_ _0\"></span>REIT <span class=\"_ _4\"></span>plc<span class=\"ls235\">. <span class=\"_ _4\"></span><span class=\"ls24c\">Under <span class=\"_ _0\"></span>the <span class=\"_ _0\"></span>terms <span class=\"_ _0\"></span>of <span class=\"_ _4\"></span>the </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls225 ws1 gs4a6\">acquisition <span class=\"_ _0\"></span>each <span class=\"_ _0\"></span>Life <span class=\"_ _0\"></span>Science <span class=\"_ _4\"></span>REIT <span class=\"_ _0\"></span><span class=\"ls234\">plc <span class=\"_ _0\"></span><span class=\"ls224\">sh<span class=\"_ _0\"></span>areholder <span class=\"_ _0\"></span>received, <span class=\"_ _4\"></span>for <span class=\"_ _0\"></span>each <span class=\"_ _0\"></span>L<span class=\"_ _0\"></span>ife <span class=\"_ _0\"></span>Science <span class=\"_ _0\"></span>R<span class=\"_ _0\"></span>EIT <span class=\"_ _0\"></span>plc <span class=\"_ _4\"></span>share <span class=\"_ _0\"></span>held, <span class=\"_ _0\"></span>14.1<span class=\"ls1\">p<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ls1fc\">in <span class=\"_ _4\"></span>cash <span class=\"_ _4\"></span>and </span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls2a1 ws1 gs4a7\">0.07 <span class=\"_ _d\"></span>new <span class=\"_ _d\"></span>British <span class=\"_ _d\"></span>Land <span class=\"_ _d\"></span>shares. <span class=\"_ _d\"></span>The <span class=\"_ _d\"></span>total <span class=\"_ _d\"></span>considera<span class=\"ls222\">tion <span class=\"_ _d\"></span>of <span class=\"_ _1\"></span>\u00a3146m<span class=\"ls1\"> </span>therefore<span class=\"ls1\"> <span class=\"_ _d\"></span><span class=\"ls226\">comprises <span class=\"_ _d\"></span>\u00a349m <span class=\"_ _1\"></span><span class=\"ls1fc\">in<span class=\"ls1\"> <span class=\"_ _1\"></span><span class=\"ls226\">cash <span class=\"_ _d\"></span>and <span class=\"_ _1\"></span>\u00a397m<span class=\"ls1\"> <span class=\"_ _1\"></span><span class=\"ls220\">of <span class=\"_ _d\"></span>new <span class=\"_ _d\"></span>British </span></span></span></span></span></span></span></span></div><div class=\"t m0 hf7 ff45 fsb8 fc4 sc0 ls24b ws1 gs4a8\">Land <span class=\"ls224\">share<span class=\"ls1\">s. <span class=\"ls20c\">Shortly after completi<span class=\"_ _1\"></span>on, Life Science REIT<span class=\"ls1\"> <span class=\"ls234\">plc</span> <span class=\"ls236\">was <span class=\"_ _1\"></span>re<span class=\"ls1\">-<span class=\"ls222\">registered as a private limited co<span class=\"_ _0\"></span>mpany.</span></span></span></span></span></span></span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-468": {
   "value": "25 <span class=\"_ _23\"> </span><span class=\"ls274\">Audit exemptions taken for subsi<span class=\"_ _0\"></span>diaries</span> The following subsi<span class=\"_ _1\"></span>diaries are exempt <span class=\"_ _1\"></span>from the requirements of <span class=\"_ _1\"></span>the Companies Act 2006 re<span class=\"ls1fc\">lating to the audit<span class=\"_ _0\"></span> </span>of<span class=\"ls1\"> <span class=\"ls1fc\">individual a<span class=\"_ _0\"></span>ccounts by<span class=\"_ _0\"></span> virtue of Sect<span class=\"_ _0\"></span>ion 479A o<span class=\"_ _0\"></span>f that Act.</span> </span><table class=\"s w218 h19c\" id=\"_2d2d3337-55dc-4b6d-b1f8-9ffc063e88f8\"><tr><td></td><td class=\"c x3f5 y38d3 w219 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Company<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d4 w72 h106\"><div class=\"t m0 x0 hf9 y294e ff3d fsb9 fc4 sc0 ls215 ws1\">Entity Name<span class=\"ls1\"> </span></div></td><td class=\"c x3f5 y38d5 w21a h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Number<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d6 w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">17<span class=\"ls1\">-</span>19 Bedford Street L<span class=\"_ _0\"></span>imited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38d6 w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls275 ws1\">07398971<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d7 w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">18<span class=\"ls1\">-<span class=\"ls208\">20 Craven Hill Gardens Limited</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x223 y38d7 w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls275 ws1\">07667839<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d8 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls208 ws1\">20 Brock Street Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38d8 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls275 ws1\">07401697<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38d9 w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1e1 ws1\">Ashband Limite<span class=\"_ _1\"></span>d<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38d9 w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls275 ws1\">04409592<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38da w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">B.L.Holdings L<span class=\"_ _1\"></span>imited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38da w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls275 ws1\">00000529<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38db w72 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">Bayeast Property <span class=\"_ _1\"></span>Co Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38db w58 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls275 ws1\">00635800<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38dc w72 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">BF Properties (<span class=\"_ _1\"></span>No.5) Ltd<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38dc w58 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls275 ws1\">05270039<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38dd w72 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL 5KS Holdings L<span class=\"_ _1\"></span>imited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38dd w58 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">13398992<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38de w72 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Aldgate Development<span class=\"_ _1\"></span> Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38de w58 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">05070564<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38df w72 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Aldgate Invest<span class=\"_ _1\"></span>ment Holdings <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y38df w58 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">15314977<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e0 w72 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Bluebutton 2023 <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e0 w58 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">15306841<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e1 w72 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL Bradford Forst<span class=\"_ _1\"></span>er Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e1 w58 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls275 ws1\">07780266<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e2 w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">BL Broadway Investment<span class=\"_ _1\"></span> Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e2 w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">10754763<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e3 w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Chess Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e3 w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls275 ws1\">08548399<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e4 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">BL City Offic<span class=\"_ _1\"></span>es Holding Company Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e4 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls275 ws1\">06002147<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e5 w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d6 ws1\">BL CW Residential <span class=\"_ _1\"></span>Holdings Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e5 w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">14178788<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e6 w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL CW Upper LP Company Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e6 w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">10375411<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38e7 w21b h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Department Stores<span class=\"_ _1\"></span> Holding Company Limit<span class=\"_ _1\"></span>ed<span class=\"_ _216\"> </span></div><div class=\"t m0 x3f6 hfb y3479 ff3f fsba fc4 sc0 ls275 ws1\">06002135<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td class=\"c x1f9 y38e8 w72 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Didcot 1 Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e8 w58 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls275 ws1\">05422338<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38e9 w72 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Didcot 2 Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38e9 w58 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls275 ws1\">05495284<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ea w72 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Doncaster Wheatle<span class=\"_ _1\"></span>y Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ea w58 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">07780272<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38eb w72 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Drummond Properties<span class=\"_ _1\"></span> Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38eb w58 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">09806622<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ec w72 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL <span class=\"ls1d8\">Eden Walk 2 Limite<span class=\"_ _1\"></span>d</span><span class=\"ls1d8\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y38ec w58 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls275 ws1\">05270219<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ed w72 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL Eden Walk Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ed w58 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1dc ws1\">10620935<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ee w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">BL Euston Tower Hol<span class=\"_ _1\"></span>ding Company Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ee w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1dc ws1\">11612398<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ef w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Falkirk Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ef w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls275 ws1\">04295313<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f0 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">BL Finsbury Squar<span class=\"_ _1\"></span>e Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f0 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">13797223<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f1 w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Goodman (LP) Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f1 w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls275 ws1\">05056902<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f2 w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL HB Investments Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f2 w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">10461500<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f3 w72 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">BL HC <span class=\"ls1eb\">PH LLP</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y38f3 w58 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls204 ws1\">OC317199<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38f4 w21c h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">BL High Street <span class=\"_ _1\"></span>And Shopping Centres<span class=\"_ _216\"> </span></div></td><td class=\"c x223 y38f5 w58 h102\"><div class=\"t m0 x0 hfb y2cef ff3f fsba fc4 sc0 ls275 ws1\">06002148<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38f6 w21d h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls28c ws1\">Holding<span class=\"ls1\"> <span class=\"ls1d9\">Company Limit<span class=\"_ _1\"></span>ed<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td class=\"c x1f9 y38f7 w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Holdings 2010 <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f7 w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls275 ws1\">07353966<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f8 w72 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Innovation Pr<span class=\"_ _1\"></span>operties 2 Limited<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f8 w58 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls275 ws1\">05070554<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38f9 w72 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Innovation Pr<span class=\"_ _1\"></span>operties Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38f9 w58 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1dc ws1\">12293278<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38fa w72 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Intermediate <span class=\"_ _1\"></span>Holding Company 2 <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y38fa w58 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1dc ws1\">12462158<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38fb w21e h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Leisure And I<span class=\"_ _1\"></span>ndustrial Holding<span class=\"_ _216\"> </span></div></td><td class=\"c x223 y38fc w58 h102\"><div class=\"t m0 x0 hfb y29a8 ff3f fsba fc4 sc0 ls275 ws1\">05995024<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38fd w212 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d9 ws1\">Company<span class=\"ls1\"> <span class=\"ls1dd\">Limited<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td class=\"c x1f9 y38fe w72 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Merthyr Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38fe w58 hfd\"><div class=\"t m0 x0 hfb y2928 ff3f fsba fc4 sc0 ls275 ws1\">06663608<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y38ff w72 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Middlesbrough L<span class=\"_ _1\"></span>imited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y38ff w58 hfe\"><div class=\"t m0 x0 hfb y28d7 ff3f fsba fc4 sc0 ls275 ws1\">03537439<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3900 w72 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Office (Non<span class=\"ls1\">-<span class=\"ls1d9\">City</span></span><span class=\"ls1\"><span class=\"ls1d9\"><span class=\"_ _1\"></span>) Holding Company Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x223 y3900 w58 hfd\"><div class=\"t m0 x0 hfb y292b ff3f fsba fc4 sc0 ls275 ws1\">06002133<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3901 w72 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Office Holdi<span class=\"_ _1\"></span>ng Company Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3901 w58 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">05995028<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3902 w72 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Office <span class=\"ls1eb\">Propert<span class=\"_ _1\"></span>ies 1 Limited</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y3902 w58 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">13514407<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3903 w72 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1d6 ws1\">BL Office Proper<span class=\"_ _1\"></span>ties 3 Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3903 w58 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls1dc ws1\">14103029<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3904 w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls1d6 ws1\">BL Osnaburgh St Resi<span class=\"_ _1\"></span>dential Ltd<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3904 w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls275 ws1\">06874523<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3905 w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Piccadill<span class=\"_ _1\"></span>y Residential Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3905 w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls275 ws1\">08707494<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3906 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1d6 ws1\">BL Rave<span class=\"ls1\">n<span class=\"ls1dd\">head Limited</span></span><span class=\"ls1\"> </span></div></td><td class=\"c x223 y3906 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls275 ws1\">02534666<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3907 w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Residual Hol<span class=\"_ _1\"></span>ding Company Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3907 w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls275 ws1\">05995030<span class=\"ls1\"> </span></div></td></tr></table><table class=\"s w20e h19b\" id=\"_a2b2dc64-4101-4878-9058-15f905964a0c\"><tr><td></td><td class=\"c x3f1 y389d w20f h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Company<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x3f2 y389e w72 h106\"><div class=\"t m0 x1c3 hf9 y294e ff3d fsb9 fc4 sc0 ls215 ws1\">Entity Name<span class=\"ls1\"> </span></div></td><td class=\"c x3f1 y389f w210 h155\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Number<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a0 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail <span class=\"ls28c\">Hold<span class=\"_ _1\"></span>ing Company Limited</span><span class=\"ls28c\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3f3 y38a0 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">05995033<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a1 w72 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Indi<span class=\"_ _1\"></span>rect Investments Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a1 w55 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls1dc ws1\">12288466<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a2 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Inve<span class=\"_ _1\"></span>stment Holdings Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a2 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">11612693<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a3 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Prope<span class=\"_ _1\"></span>rties 3 Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a3 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">04869976<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a4 w72 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Prope<span class=\"_ _1\"></span>rties Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a4 w55 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">13215893<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38a5 w72 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Prope<span class=\"_ _1\"></span>rty Holdings Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a5 w55 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls1dc ws1\">13215871<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38a6 w211 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Retail Warehous<span class=\"_ _1\"></span>ing Holding<span class=\"_ _216\"> </span></div></td><td class=\"c x3f3 y38a7 w55 h102\"><div class=\"t m0 x1c3 hfb y2c41 ff3f fsba fc4 sc0 ls275 ws1\">06002154<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38a8 w212 h149\"><div class=\"t m0 x1e7 hfb y3476 ff3f fsba fc4 sc0 ls1d9 ws1\">Company<span class=\"ls1\"> <span class=\"ls1dd\">Limited<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td class=\"c x3f2 y38a9 w72 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">BL Shoreditch Devel<span class=\"_ _1\"></span>opment Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38a9 w55 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls275 ws1\">05326670<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38aa w72 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls1d6 ws1\">BL Shoreditch No.<span class=\"_ _1\"></span>2 Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38aa w55 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">08570558<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ab w72 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls1d6 ws1\">BL South Camb Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ab w55 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">07555233<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ac w72 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Thanet Limited<span class=\"_ _1\"></span><span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ac w55 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls1dc ws1\">13843760<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ad w72 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Triton Buil<span class=\"_ _1\"></span>ding Residential <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ad w55 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls275 ws1\">07508029<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ae w72 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls1d6 ws1\">BL <span class=\"ls1e0\">Tunbridge Wells Limit<span class=\"_ _1\"></span>ed</span><span class=\"ls1e0\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3f3 y38ae w55 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls1dc ws1\">11184483<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38af w72 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1d6 ws1\">BL <span class=\"ls1e0\">Turbary <span class=\"ls1dd\">Limited</span></span><span class=\"ls1e0\"><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></span></div></td><td class=\"c x3f3 y38af w55 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1dc ws1\">16695801<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b0 w72 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Vangarde Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b0 w55 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">05270196<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b1 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Warwickshire Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b1 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">04323341<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b2 w72 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls1d6 ws1\">BL West End Investment<span class=\"_ _1\"></span>s Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b2 w55 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">07793483<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b3 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Whiteley Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b3 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1dc ws1\">11253224<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b4 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Whiteley Retai<span class=\"_ _1\"></span>l Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b4 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1dc ws1\">11254281<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b5 w72 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1d6 ws1\">BL Woolwich <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3f3 y38b5 w55 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1dc ws1\">11079254<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b6 w72 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls1d6 ws1\">BLD Property Holdi<span class=\"_ _1\"></span>ngs Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b6 w55 hfe\"><div class=\"t m0 x1c3 hfb y293b ff3f fsba fc4 sc0 ls275 ws1\">00823907<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b7 w72 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls1d6 ws1\">BLMH Centre Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b7 w55 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">03918066<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b8 w72 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls1d6 ws1\">BLSSP (PHC 5) Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b8 w55 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">04104061<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38b9 w72 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls1d6 ws1\">Boldswitch Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38b9 w55 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls275 ws1\">02307096<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ba w72 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>(Joint Ventures) Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ba w55 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls275 ws1\">04682740<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38bb w72 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Fund Management Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38bb w55 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls275 ws1\">04450726<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38bc w72 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>In Town Retail Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38bc w55 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">03325066<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38bd w72 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Industrial Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38bd w55 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls275 ws1\">00643370<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38be w72 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Offices (Non<span class=\"ls1\">-<span class=\"ls1d9\">City</span></span><span class=\"ls1\"><span class=\"ls1d9\">) Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x3f3 y38be w55 hfe\"><div class=\"t m0 x1c3 hfb y28e6 ff3f fsba fc4 sc0 ls275 ws1\">02740378<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38bf w72 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Offices (Non<span class=\"ls1\">-<span class=\"ls1d9\">City</span></span><span class=\"ls1\"><span class=\"ls1d9\">) No.<span class=\"_ _1\"></span>2 Limited<span class=\"ls1\"> </span></span></span></div></td><td class=\"c x3f3 y38bf w55 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls275 ws1\">06849369<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38c0 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1d6 ws1\">British Land <span class=\"_ _1\"></span>Property Advisers Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c0 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">02793828<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38c1 w213 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d6 ws1\">British <span class=\"ls1dd\">Land Superstores<span class=\"_ _1\"></span> (Non Securitised)<span class=\"_ _216\"> </span></span></div></td><td class=\"c x3f3 y38c2 w55 h102\"><div class=\"t m0 x1c3 hfb y3037 ff3f fsba fc4 sc0 ls275 ws1\">06514283<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38c3 w214 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1e1 ws1\">Number 2 Limit<span class=\"_ _1\"></span>ed<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td class=\"c x3f2 y38c4 w72 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls1d6 ws1\">Broadgate Adjoini<span class=\"_ _1\"></span>ng Properties Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c4 w55 hfd\"><div class=\"t m0 x1c3 hfb y28e8 ff3f fsba fc4 sc0 ls275 ws1\">07580963<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38c5 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls1d9 ws1\">Capitol Presto<span class=\"_ _1\"></span>n Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c5 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f5 ff3f fsba fc4 sc0 ls275 ws1\">06120395<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38c6 w72 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls1d9 ws1\">Cavendish Geared Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c6 w55 hfd\"><div class=\"t m0 x1c3 hfb y2c1d ff3f fsba fc4 sc0 ls275 ws1\">02779045<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38c7 w215 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d9 ws1\">Clarges Estate <span class=\"_ _1\"></span>Property Management Co Li<span class=\"_ _1\"></span>mited<span class=\"_ _216\"> </span></div><div class=\"t m0 x3f4 hfb y3479 ff3f fsba fc4 sc0 ls275 ws1\">08418875<span class=\"_ _216\"> </span></div></td><td></td></tr><tr><td class=\"c x3f2 y38c8 w72 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls20a ws1\">Drake Circus<span class=\"_ _1\"></span> Centre <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x3f3 y38c8 w55 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls275 ws1\">09069182<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38c9 w72 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls20a ws1\">Drake Circus<span class=\"_ _1\"></span> Leisure Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38c9 w55 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">09190208<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38ca w216 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1d8 ws1\">Eden Walk Shopping Centre <span class=\"_ _1\"></span>General<span class=\"_ _216\"> </span></div></td><td class=\"c x3f3 y38cb w55 h102\"><div class=\"t m0 x1c3 hfb y2c3e ff3f fsba fc4 sc0 ls275 ws1\">06421966<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1fe y38cc w217 h152\"><div class=\"t m0 x1e7 hfb y3479 ff3f fsba fc4 sc0 ls1eb ws1\">Partner<span class=\"ls1\"> <span class=\"ls1dd\">Limited<span class=\"_ _216\"> </span></span></span></div></td><td></td></tr><tr><td class=\"c x3f2 y38cd w72 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls1d8 ws1\">Elk Mill Oldham Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38cd w55 hfd\"><div class=\"t m0 x1c3 hfb y29a1 ff3f fsba fc4 sc0 ls1dc ws1\">10461879<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38ce w72 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls28c ws1\">Hempel Holdings <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38ce w55 hfe\"><div class=\"t m0 x1c3 hfb y2914 ff3f fsba fc4 sc0 ls275 ws1\">05341380<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38cf w72 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls28c ws1\">Hempel Hotels <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38cf w55 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls275 ws1\">02728455<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38d0 w72 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls1d5 ws1\">Industrial Real Es<span class=\"_ _0\"></span>tate Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38d0 w55 hfd\"><div class=\"t m0 x1c3 hfb y28dd ff3f fsba fc4 sc0 ls275 ws1\">00503636<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38d1 w72 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1dd ws1\">Lonebridge UK Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38d1 w55 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls275 ws1\">03292034<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y38d2 w72 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls1dd ws1\">Longford Street Residential Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y38d2 w55 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls275 ws1\">08700158<span class=\"ls1\"> </span></div></td></tr></table><table class=\"s w222 h19f\" id=\"_e3970f87-0fb2-418c-bf0c-5a2b9b8c54d3\"><tr><td></td><td class=\"c x3f5 y3911 w219 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Company<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3912 w72 h119\"><div class=\"t m0 x0 hf9 y296e ff3d fsb9 fc4 sc0 ls215 ws1\">Entity Name<span class=\"ls1\"> </span></div></td><td class=\"c x3f5 y3913 w21a h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Number<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x1f9 y3914 w72 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls20b ws1\">Mayflower <span class=\"_ _1\"></span>Retail Park<span class=\"_ _1\"></span> <span class=\"ls1d6\">Basildon Limited</span><span class=\"ls1d6\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y3914 w58 hfe\"><div class=\"t m0 x0 hfb y28d5 ff3f fsba fc4 sc0 ls275 ws1\">07566738<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3915 w72 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls1e1 ws1\">Nugent Shopping<span class=\"_ _1\"></span> Park Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3915 w58 hfd\"><div class=\"t m0 x0 hfb y2be8 ff3f fsba fc4 sc0 ls275 ws1\">06153558<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3916 w72 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls204 ws1\">Orbital <span class=\"_ _1\"></span>Shopping Park <span class=\"_ _1\"></span>Swindon Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3916 w58 hfe\"><div class=\"t m0 x0 hfb y28fc ff3f fsba fc4 sc0 ls275 ws1\">05489767<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3917 w72 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls204 ws1\">Osnaburgh St<span class=\"_ _1\"></span>reet Limit<span class=\"_ _1\"></span>ed<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3917 w58 hfd\"><div class=\"t m0 x0 hfb y292f ff3f fsba fc4 sc0 ls275 ws1\">05886735<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3918 w72 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington 3KS Investment<span class=\"_ _1\"></span>s Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3918 w58 hfe\"><div class=\"t m0 x0 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">13843646<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3919 w72 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1eb ws1\">Paddington 5KS Holdings <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3919 w58 hfd\"><div class=\"t m0 x0 hfb y297c ff3f fsba fc4 sc0 ls1dc ws1\">13843365<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y380b w72 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1eb ws1\">Paddington Box <span class=\"ls1dd\">Limited</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td><td class=\"c x223 y380b w58 hfe\"><div class=\"t m0 x0 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">14782912<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y380c w72 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls1eb ws1\">Pillar Denton Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y380c w58 hfd\"><div class=\"t m0 x0 hfb y28f7 ff3f fsba fc4 sc0 ls275 ws1\">02982293<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3608 w72 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls1eb ws1\">Pillar Property <span class=\"_ _1\"></span>Group Limited<span class=\"ls1\"> </span></div></td><td class=\"c x223 y3608 w58 hfe\"><div class=\"t m0 x0 hfb y2912 ff3f fsba fc4 sc0 ls275 ws1\">02570618<span class=\"ls1\"> </span></div></td></tr></table><table class=\"s w221 h19f\" id=\"_5a67699b-f0d6-4af3-b6a7-153f5519b0b7\"><tr><td></td><td class=\"c x3f1 y3911 w219 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d3 ws1\">Company<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x3f2 y3912 w72 h119\"><div class=\"t m0 x1c3 hf9 y296e ff3d fsb9 fc4 sc0 ls215 ws1\">Entity Name<span class=\"ls1\"> </span></div></td><td class=\"c x3f1 y3913 w210 h147\"><div class=\"t m0 x1e7 hf9 y3463 ff3d fsb9 fc4 sc0 ls1d0 ws1\">Number<span class=\"_ _216\"> </span></div></td></tr><tr><td class=\"c x3f2 y3914 w72 hfe\"><div class=\"t m0 x1c3 hfb y28d5 ff3f fsba fc4 sc0 ls1eb ws1\">Plymouth Retail Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3914 w55 hfe\"><div class=\"t m0 x1c3 hfb y28d5 ff3f fsba fc4 sc0 ls1dc ws1\">10368557<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3915 w72 hfd\"><div class=\"t m0 x1c3 hfb y2be8 ff3f fsba fc4 sc0 ls1d6 ws1\">Regent's Place <span class=\"_ _1\"></span>Holding 2 Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3915 w55 hfd\"><div class=\"t m0 x1c3 hfb y2be8 ff3f fsba fc4 sc0 ls1dc ws1\">11864307<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3916 w72 hfe\"><div class=\"t m0 x1c3 hfb y28fc ff3f fsba fc4 sc0 ls1ed ws1\">Solartron Retail Park <span class=\"_ _1\"></span>Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3916 w55 hfe\"><div class=\"t m0 x1c3 hfb y28fc ff3f fsba fc4 sc0 ls1dc ws1\">13060834<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3917 w72 hfd\"><div class=\"t m0 x1c3 hfb y292f ff3f fsba fc4 sc0 ls1ed ws1\">St. Stephens Shopping Centre Li<span class=\"_ _1\"></span>mited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3917 w55 hfd\"><div class=\"t m0 x1c3 hfb y292f ff3f fsba fc4 sc0 ls275 ws1\">04931198<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3918 w72 hfe\"><div class=\"t m0 x1c3 hfb y28f3 ff3f fsba fc4 sc0 ls1ed ws1\">Storey Offices Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3918 w55 hfe\"><div class=\"t m0 x1c3 hfb y28f3 ff3f fsba fc4 sc0 ls1dc ws1\">11417071<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3919 w72 hfd\"><div class=\"t m0 x1c3 hfb y297c ff3f fsba fc4 sc0 ls1e0 ws1\">TBL Properties Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3919 w55 hfd\"><div class=\"t m0 x1c3 hfb y297c ff3f fsba fc4 sc0 ls275 ws1\">03863190<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y380b w72 hfe\"><div class=\"t m0 x1c3 hfb y2967 ff3f fsba fc4 sc0 ls1e0 ws1\">Tollgate Centre Colches<span class=\"_ _1\"></span>ter Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y380b w55 hfe\"><div class=\"t m0 x1c3 hfb y2967 ff3f fsba fc4 sc0 ls1dc ws1\">10461649<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y380c w72 hfd\"><div class=\"t m0 x1c3 hfb y28f7 ff3f fsba fc4 sc0 ls1e0 ws1\">Topside Street Limited<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y380c w55 hfd\"><div class=\"t m0 x1c3 hfb y28f7 ff3f fsba fc4 sc0 ls1dc ws1\">11253428<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3608 w72 hfe\"><div class=\"t m0 x1c3 hfb y2912 ff3f fsba fc4 sc0 ls1e2 ws1\">Union Property<span class=\"_ _1\"></span> Corporation Limi<span class=\"_ _1\"></span>ted<span class=\"ls1\"> </span></div></td><td class=\"c x3f3 y3608 w55 hfe\"><div class=\"t m0 x1c3 hfb y2912 ff3f fsba fc4 sc0 ls275 ws1\">00664862<span class=\"ls1\"> </span></div></td></tr></table>The following part<span class=\"_ _1\"></span>nerships are exempt fr<span class=\"_ _1\"></span>om the <span class=\"ls222\">requirements<span class=\"ls1\"> </span>to<span class=\"_ _0\"></span> prepare, publish and have au<span class=\"_ _0\"></span>dited individual accounts </span>by virtue of <span class=\"_ _1\"></span>regulation 7 of The<span class=\"_ _1\"></span> Partnerships (Accounts<span class=\"_ _1\"></span>) Regulations 2008. The <span class=\"_ _1\"></span>results of thes<span class=\"_ _1\"></span>e partnerships<span class=\"ls1\"> <span class=\"ls225\">are </span></span>consolidat<span class=\"ls223\">ed within these Group </span>consoli<span class=\"_ _1\"></span>dated financial statements<span class=\"ls1\">. </span><table class=\"s w21f h19d\" id=\"_9f7e43a4-1f9a-4b6f-be72-0cc539c2eff7\"><tr><td class=\"c x1f9 y3908 w73 hfe\"><div class=\"t m0 x0 hfb y2943 ff3f fsba fc4 sc0 ls1e1 ws1\">Name<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y3909 w73 hfe\"><div class=\"t m0 x0 hfb y28ed ff3f fsba fc4 sc0 ls1d6 ws1\">BL Fixed Uplif<span class=\"_ _1\"></span>t Fund Limited Part<span class=\"_ _1\"></span>nership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y390a w73 hfd\"><div class=\"t m0 x0 hfb y28ef ff3f fsba fc4 sc0 ls1d6 ws1\">BL <span class=\"ls1dd\">Lancaster Limited Partnershi<span class=\"_ _1\"></span>p</span><span class=\"ls1dd\"><span class=\"ls1\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y390b w73 hfe\"><div class=\"t m0 x0 hfb y28e1 ff3f fsba fc4 sc0 ls1d6 ws1\">BL Shoreditch Li<span class=\"_ _1\"></span>mited Partnership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x1f9 y390c w73 hfd\"><div class=\"t m0 x0 hfb y28e3 ff3f fsba fc4 sc0 ls1d8 ws1\">Eden Walk Shopping Centre <span class=\"_ _1\"></span>Limited <span class=\"ls1eb\">Partnership</span><span class=\"ls1eb\"><span class=\"ls1\"> </span></span></div></td></tr><tr><td class=\"c x1f9 y390d w73 hfe\"><div class=\"t m0 x0 hfb y28e6 ff3f fsba fc4 sc0 ls28c ws1\">Hereford Shoppi<span class=\"_ _1\"></span>ng Centre Limit<span class=\"_ _1\"></span>ed Partnership<span class=\"ls1\"> </span></div></td></tr></table><table class=\"s w220 h19e\" id=\"_c3a9e324-c6be-42fc-b760-aee3dbacc69a\"><tr><td class=\"c x3f2 y390e w74 hfe\"><div class=\"t m0 x1c3 hfb y2943 ff3f fsba fc4 sc0 ls1e1 ws1\">Name<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y390f w74 hfe\"><div class=\"t m0 x1c3 hfb y28ed ff3f fsba fc4 sc0 ls1eb ws1\">Paddington 5KS Property <span class=\"_ _1\"></span>Limited Partnership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3910 w74 hfd\"><div class=\"t m0 x1c3 hfb y28ef ff3f fsba fc4 sc0 ls1eb ws1\">Power Court Luton Limi<span class=\"_ _1\"></span>ted Partnership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3542 w74 hfe\"><div class=\"t m0 x1c3 hfb y28e1 ff3f fsba fc4 sc0 ls1e0 ws1\">The Aldgate Place Limit<span class=\"_ _1\"></span>ed Partnership<span class=\"ls1\"> </span></div></td></tr><tr><td class=\"c x3f2 y3543 w74 hfd\"><div class=\"t m0 x1c3 hfb y28e3 ff3f fsba fc4 sc0 ls1e0 ws1\">The Hercules Property Li<span class=\"_ _1\"></span>mited Partnership<span class=\"ls1\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-19": {
   "value": "England",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-413": {
   "value": "England",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-414": {
   "value": "York House 45 Seymour Street London W1H 7LX",
   "dimensions": {
    "concept": "ifrs-full:PrincipalPlaceOfBusiness",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  },
  "fact-20": {
   "value": "York House 45 Seymour Street London W1H 7LX",
   "dimensions": {
    "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
    "language": "en",
    "entity": "scheme:RV5B68J2GV3QGMRPW209",
    "period": "2025-04-01T00:00:00/2026-04-01T00:00:00"
   }
  }
 }
}