CLS Holdings plc Annual Report & Accounts 2015 CLS Holdings plc Annual Report & Accounts CLS Holdings plc 86 Bondway London SW8 1SF Tel: +44 (0)20 7582 7766 Fax: +44 (0)20 7735 2779 email: enquiries@clsholdings.com www.clsholdings.com
138 Fetter Lane, London EC4 One Elmfield Park, Bromley CLS Holdings plc Annual Report & Accounts 2015 CONTENTS 2-37 > Strategic Report HOW WE PERFORMED IN 2015 2 CLS at a glance 4 How we operate 6 2015 Business Highlights 7 2015 Financial Highlights 8 Chairman’s Statement 10 Actively Managing our Portfolio 12 Business Review 28 Principal Risks and Uncertainties 30 Corporate, Social & Environmental Responsibility Report 38-60 > Governance INFORMATION ABOUT OUR BOARD OF DIRECTORS AND CORPORATE GOVERNANCE 38 Directors’ Report 42 Corporate Governance Report Strategic Report 50 Remuneration Committee Report 58 Audit Committee Report 61-102 Governance > Accounts FINANCIAL CALENDAR FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015 Announcement of results 61 Independent Auditor’s Report to the members – 8 March 2016 of CLS Holdings Plc Accounts 66 Group Income Statement Publication of Annual Report 66 Group Statement of Comprehensive Income and Accounts – 18 March 2016 67 Group Balance Sheet 68 Group Statement of Changes in Equity Annual General Meeting Other Information 69 Group Statement of Cash Flows – 20 April 2016 70 Notes to the Group Financial Statements Trading Update 97 Company Balance Sheet – 18 May 2016 98 Notes to the Company Financial Statements 102 Five Year Financial Summary Announcement of half-year results – 17 August 2016 (provisional) 103-104 Trading Update – mid November 2016 > Other Information 103 Glossary of Terms 104 Directors, Officers and Advisers 1 Tangentis, Munich 62 Avenue Foch, Paris
SCHEDULE OF GROUP PROPERTIES LONDON Area Area Area Area at 31 December 2015 Tenure sqm Use at 31 December 2015 Tenure sqm Use at 31 December 2015 Tenure sqm Use at 31 December 2015 Tenure sqm Use EC4 Hounslow SCOTLAND NORTH 138 Fetter Lane Freehold 2,742 Offices 115/123 Staines Road, TW3 Freehold 2,314 Offices Aberdeen St Asaph 139 Fetter Lane Freehold 428 Residential 125/135 Staines Road, TW3 Freehold 2,340 Offices Atholl House, Netcom House, SE1 New Malden 84/88 Guild Street, AB11 †† Leasehold 5,058 Offices St Asaph Business Park LL17 Leasehold 1,972 Offices Westminster Tower, CI Tower, High Street, KT3 Freehold 7,597 Offices Lord Cullen House, Billingham 3 Albert Embankment Freehold 4,457 Offices Apex Tower, High Street, KT3 Freehold 10,066 Offices/Retail Causeway End, AB25 Feuhold 2,995 Offices Theatre Buildings, Kingsway, TS23 Freehold 675 Offices SW6 Staines Dundee Birkenhead Quayside, William Morris Way Freehold 3,064 Offices 62 London Road, TW18 Freehold 1,272 Offices Lindsay House, Great Western House, 18/30 Ward Road, DD1 Freehold 3,605 Offices SW8 Sunbury-on-Thames Woodside Ferry Approach, CH41 Freehold 7,445 Offices Sidlaw House, Cap Gemini House, Benwell House, Bradford 4 Explorer Road, DD2 Freehold 5,690 Offices 95 Wandsworth Road & Green Street, TW16 Freehold 2,377 Offices Centenary Court, 72/78 Bondway & 22 Miles Street Freehold 10,427 Offices/Industrial Edinburgh Sutton Forster Square, BD1 Freehold 9,774 Offices 80/84 Bondway Freehold 1,631 Offices Ladywell House, Chancery House, Phoenix House, 86 Bondway* Freehold 891 Offices Ladywell Road, EH12 Freehold 4,807 Offices St Nicholas Way, SM1 † Freehold 5,132 Offices Rushton Avenue, BD3 Freehold 3,498 Offices 18/20 Miles Street Freehold 152 Offices Wallington Chester 101/103/107 Wandsworth Road Freehold 742 Residential Crosspoint House, Chantry House, Freehold & 131/137 Wandsworth Road Freehold 1,546 Offices 28 Stafford Road, SM6 Freehold 1,963 Offices 55/59 City Road, CH1 leasehold 3,237 Offices SE11 Total London 182,406 Redcar 35 Albert Embankment Freehold 527 Leisure Portland House, Western House, West Dyke Road, TS10 Freehold 892 Offices 5 Glasshouse Walk Freehold 589 Community Centre Gateway House, Milverton Street Freehold 1,844 Offices REST OF UK Rotherham Spring Gardens, Tinworth Street Freehold 19,964 Offices Bradmarsh Business Park, SOUTH Spring Mews, Tinworth Street Freehold 10,997 Student Bow Bridge Close, S60 Freehold 1,120 Offices accommodation/ Basildon Salford Quays Great Oaks House, SS14 Leasehold 5,057 Offices Offices Units 1 & 2 Dallas Court, Spring Gardens Court, Bridgwater South Langworthy Road, M50 Leasehold 1,491 Offices 79 Vauxhall Walk Leasehold 115 Residential Hanover House, Northgate, TA6 Freehold 2,007 Offices 85,751 Total Rest of UK 92/98 Vauxhall Walk Freehold 415 Offices Cardiff 405 Kennington Road Freehold 1,680 Offices 29 Newport Road, CF24 Freehold 3,135 Offices WC1 Chippenham 214/236 Gray’s Inn Road Freehold 26,295 Offices Cyppa Court, W3 Avenue La Fleche, SN15 Freehold 1,143 Offices Aberdeen Armstrong Road Freehold 4,039 Offices Plymouth W10 Foliot House Buspace Studios, Studios/ Brooklands Office Campus, PL6 Freehold 1,160 Offices 10 Conlan Street Freehold 3,006 Workshops/Offices Units 3, 4 & 5 Brooklands Office Dundee Campus, PL6 Freehold 687 Offices NW10 Chancel House, Neasden Lane Freehold 6,940 Offices Southampton St Cross House, Bracknell Edinburgh 18 Bernard Street, SO14 Freehold 3,993 Offices Reflex Building, Cain Road, RG12 † Freehold 9,607 Offices MIDLANDS Brentford Great West House, M1 Bedford A1(M) Great West Road, TW8 Freehold 14,197 Offices Chailey House, 30 Cardington Street, MK42 Freehold 1,534 Offices Bromley King’s House, Birmingham Billingham 32/40 Widmore Road, BR1 Freehold 2,244 Offices/Retail Aqueous 2, Aston Cross, One Elmfield Park, BR1 † Freehold 2,238 Offices Redcar Chester Street, B6 Leasehold 3,434 Offices M40 Harrow Unicorn House, Northampton NW10 29 Elmfield Road, BR1 Freehold 5,456 Offices St Katherine's House, WC1 Chertsey M4 21/27 St Katherine's Street, NN1 Freehold 2,578 Offices W10 EC4 Hayes W3 Melita House, Bradford W6 Brentford SE1 Norwich 124 Bridge Road, KT16 Freehold 1,257 Offices Datchet SE11 Hounslow Blackburn House, SW8 SW6 Bracknell Staines Coulsdon Birkenhead Rotherham 1 Theatre Street, NR2 Leasehold 864 Retail Salford Quays Sentinel House, St Asaph Bromley New Malden Chester Sunbury-on-Thames Peterborough M2 163 Brighton Road, CR5 Freehold 3,411 Offices Clifton House, 84 Broadway & Chertsey Wallington M3 Sutton Datchet 126/128 Park Road, PE1 Freehold 5,344 Offices Norwich 18 Horton Road Freehold 945 Offices Coulsdon Wolverhampton Peterborough Wolverhampton Harrow Temple House, Birmingham Hygeia, College Road, HA1 Freehold 6,757 Offices Temple Street, WV2 Freehold 2,557 Offices M25 Northampton Bedford Hayes The Grange, 501 Uxbridge Road, UB4 Freehold 1,042 Offices Basildon * Owner-occupied London Chippenham Cardiff † Acquired in 2015 †† Sold in 2016 Bridgwater Southampton Plymouth
Chancery House, Sutton Kennington Road, London SE11 Reflex Building, Westminster Tower, London SE1 Bracknell Armstrong Road, Acton Aqueous 2, Birmingham Spring Mews, London SE11 Centenary Court, Bradford
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