IMHO "gifting" of the land would be in law, a significant balance sheet event, and therefore reportable, and potentially a criminal offence if it wasn't. The tax implications of gifting company assets are huge.
Of interest is the fact that between y/e march 09 and march 10, the loss went from £3.9m to £37.9m, with a coincident reduction in tangible fixed asset of £32m. Anybody now what that was about ? (nb y/e March 11, loss was back to £1m bt.)