LSL Property Services plc is a leading provider of residential
Overview
Directors’ Report and Business Review
property services to its two key customer groups. Services
to consumers include: residential sales, lettings, surveying,
conveyancing, and advice on mortgages and non investment
insurance products. Services to mortgage lenders include:
valuations and panel management services, asset
management and property management services.
Contents
Directors’ Report and Business Review
Overview Financial Statements
Highlights 2012 2 Independent Auditors’ Report to the
LSL’s Markets 4 Members of LSL Property Services plc 58
LSL’s Market Intelligence 5 Group Income Statement 59
LSL Today 6
Group Statement of Comprehensive Income 60
LSL’s Strategy 8
Group Balance Sheet 61
Business Review Group Statement of Cash Flows 62
Group Statement of Changes in Equity 63
Chairman’s Statement 10
Notes to the Group Financial Statements 64
Estate Agency Division 14
Statement of Directors’ Responsibilities in Relation
Surveying Division 18
Financial Review 20 to the Parent Company Financial Statements 105
LSL Board 24 Independent Auditors’ Report to the
Members of LSL Property Services plc 106
Governance Parent Company Balance Sheet 107
Notes to the Parent Company Financial Statements 108
Statement of Directors’ Responsibilities in
Relation to the Group Financial Statements 27
Other Information
Report of the Directors 28
Corporate Governance Report 33 Definitions 117
Directors’ Remuneration Report 40 Investor Information 119
Corporate Social Responsibility Statement 50
Forward Looking Statements
This Report may contain forward-looking statements with respect to certain plans and current goals and expectations relating to the future financial
condition, business performance and results of LSL. By their nature, all forward-looking statements involve risk and uncertainty because they relate to
future events and circumstances that are beyond the control of LSL including, amongst other things, UK domestic and global economic and business
conditions, market related risks such as fluctuations in interest rates, inflation, deflation, the impact of competition, changes in customer preferences, delays
in implementing proposals, the timing, impact and other uncertainties of future acquisitions or other combinations within relevant industries, the policies
and actions of regulatory authorities, the impact of tax or other legislation and other regulations in the UK. As a result LSL’s actual future condition, business
performance and results may differ materially from the plans, goals and expectations expressed or implied in these forward-looking statements. Nothing in
this Report should be construed as a profit forecast. Information about the management of the principal risks and uncertainties facing LSL is set out in the
Financial Review on pages 22 and 23.
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