THE UNITE GROUP PLC Annual Report and Accounts 2024 154 FINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEET At 31 December 2024 2024 2023 Note £m £m Assets Investment property (owned) 3.1 4,025.5 3,694.3 Investment property (leased) 3.1 71.8 84.7 Investment property under development 3.1 451.4 174.7 Investment in joint ventures 3.4b 1,265.0 1,219.0 Other non-current assets 3.3b 14.8 12.7 Interest rate swaps 4.2 46.0 56.0 Right-of-use assets 3.3a 4.7 1.7 Deferred tax asset 2.5d 8.2 5.6 Total non-current assets 5,887.4 5,248.7 Assets classified as held for sale 3.1 92.6 25.7 Interest rate swaps 4.2 7.4 - Inventories 3.2 13.6 26.2 Trade and other receivables 5.2 144.6 132.8 Cash and cash equivalents 5.1 274.3 37.5 Total current assets 532.5 222.2 Total assets 6,419.9 5,470.9 Liabilities Current borrowings 4.1 - (299.4) Lease liabilities 4.6a (6.0) (5.4) Trade and other payables 5.4 (255.5) (207.8) Current tax (liability) / Asset (1.2) 0.6 Provisions 5.5 (5.1) (5.2) Total current liabilities (267.8) (517.2) Borrowings 4.1 (1,273.8) (782.2) Lease liabilities 4.6a (66.8) (78.4) Total non-current liabilities (1,340.6) (860.6) Total liabilities (1,608.4) (1,377.8) Net assets 4,811.5 4,093.1 Equity Issued share capital 4.8 122.2 109.4 Share premium 4.8 2,876.9 2,447.6 Merger reserve 40.2 40.2 Retained earnings 1,770.8 1,466.0 Hedging reserve 1.4 3.8 Equity attributable to owners of the parent company 4,811.5 4,067.0 Non-controlling interest - 26.1 Total equity 4,811.5 4,093.1 The financial statements of The Unite Group PLC, registered number 03199160, were approved and authorised for issue by the Board of Directors on 25 February 2025 and were signed on its behalf by: Joe Lister Mike Burt Director Director