28th Nov 2008 09:00
INVESTEC INVESTMENT TRUST PLC - THE COMPANY
(INCORPORATED IN ENGLAND AND WALES)
(REGISTRATION NUMBER: 328206)
INTERIM ANNOUNCEMENT
UN-AUDITED PROFIT AND LOSS ACCOUNT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2008
|
Six months |
Six months |
Year |
||||||
|
ended |
ended |
ended |
||||||
|
30 September |
30 September |
31 March |
||||||
|
2008 |
2007 |
2008 |
||||||
|
Un-audited |
Un-audited |
Audited |
||||||
|
(note 2) |
(note 2) |
(note 2) |
||||||
|
£000 |
£000 |
£000 |
||||||
|
Administrative expenses |
-4 |
-1 |
-3 |
|||||
|
Interest payable |
-31 |
-31 |
-63 |
|||||
|
|
|
|
||||||
|
Loss on ordinary activities before taxation |
-35 |
-32 |
-66 |
|||||
|
Tax on loss on ordinary activities |
- |
- |
-506 |
|||||
|
|
|
|
||||||
|
Loss on ordinary activities after taxation |
-35 |
-32 |
-572 |
|||||
|
Retained loss for the financial year |
-35 |
-32 |
-572 |
|||||
|
Net assets |
26,884 |
27,459 |
26,919 |
|||||
Notes
1. Cash Flow Statement
The Company is exempt from the requirements to prepare a cash flow statement under Financial Reporting Standard 1, because a consolidated cash flow statement is included in the publicly available consolidated financial statements of its ultimate holding company, Investec plc.
2. The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards. The company has adopted FRS 21 "Events after the balance sheet date", with the effect that equity dividend receivable or payable after balance sheet date have not been recognised as an asset or liability. This change has had no impact on the financial statements. The company also adopted FRS 25 "Financial instruments: Presentation and Disclosure" and FRS 26 "Financial instruments: Measurement".
3. Investec Group Investments (UK) Limited, a wholly-owned subsidiary of Investec Bank (UK) Limited, owns all of the ordinary shares of the company, £266,586 of the nominal 3.5 per cent cumulative preference stock and £96,612 of the nominal 5 per cent preference stock, in issue. The issued £1,300,000 nominal 3.5 per cent and £345,438 nominal 5 per cent cumulative preference stocks are listed on the London Stock Exchange.
4. Surplus liquidity arising from time to time has been lent by the company during the period on an interest free basis to its immediate parent company, Investec Group Investments (UK) Limited. The loan is repayable on demand and the company has the right, at any time and at its sole discretion, to charge interest thereon at a commercial rate.
5. The tax charge is based on the effective tax rate for the full year.
6. No dividend is proposed in respect of the ordinary shares (2007:£Nil).
7. The above financial information is an abridged version of the company's full accounts which have not yet been filed with the Registrar of Companies.
8. The Report and Financial Statements will be posted to holders of preference stocks of the company and copies are available, upon request, at the Registered Office of the company.
Registered Office
2 Gresham Street London EC2V 7QP
Date: 28 November 2008
Related Shares:
Investec 5%pf