annington annual rep 2019-web - Page 2



CONTENTS
Strategic report
NOTE ON FORWARD-LOOKING STATEMENTS
This Annual Report contains various forward-looking statements. These forward-looking
statements reflect current views with respect to future events and anticipated financial
and operational performance. Forward-looking statements as a general matter are all
statements other than statements as to historical facts or present facts or circumstances.
Forward-looking statements are sometimes, but not always, identified by their use of the
words “aim”, “anticipate”, “assume”, “believe”, “contemplate”, “continue”, “could”,
“estimate”, “expect”, “forecast”, “intend”, “likely”, “may”, “might”, “plan”, “positioned”,
“potential”, “predict”, “project”, “remain”, “should”, “will” or “would”, or, in each case,
their negative, or similar expressions. Other forward-looking statements can be identified in
the context in which the statements are made.
By their nature, forward-looking statements involve known and unknown risks, uncertainties
and other factors because they relate to events and depend on circumstances that may
or may not occur in the future. Forward-looking statements are not guarantees of future
performance. Many of these factors are beyond the control of the Group and are not
possible to estimate precisely. Because these forward-looking statements are based on
assumptions or estimates and are subject to risks and uncertainties, the actual results or
outcome could differ materially from those set out in the forward-looking statements.
Readers are cautioned not to place undue reliance on such forward-looking statements,
which speak only as of the date of this Report.
Annington Limited expressly undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future events or
otherwise, other than as required by law or regulation. Accordingly, prospective investors
are cautioned not to place undue reliance on any of the forward-looking statements herein.
In addition, all subsequent written and oral forward-looking statements attributable to or
made on behalf of Annington Limited are expressly qualified in their entirety.
2 | Annington Limited Annual Report & Accounts 2019
4
Highlights
4
The business
7
Property market overview
14
Strategies
16
Business review
18
Financial performance
21
Financial review
22
Principal risks and uncertainties
23
Principal stakeholder
29
Corporate responsibility
30
Going concern
34
Outlook
35
Directors’ report
36
Statement of directors’ responsibilities
43
Independent auditor’s report
44
Financial statements
46
Consolidated income statement
46
Consolidated statement of comprehensive income
47
Consolidated balance sheet
48
Consolidated statement of changes in equity
49
Consolidated cash flow statement
50
Notes to the financial statements
51
Company balance sheet
80
Company statement of changes in equity
81
Company cash flow statement
82
Notes to the Company financial statements
83
Annington Limited Annual Report & Accounts 2019 | 3

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