Annual Report 2006 - Tamar European Industrial Fund
Annual Report 2006 - Tamar European Industrial Fund
Annual Report 2006 - Tamar European Industrial Fund
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Income Statements Balance Sheets<br />
For the period from 25 August <strong>2006</strong> to 31 December <strong>2006</strong><br />
Revenue<br />
Notes Company Group<br />
£’000 £’000<br />
Rental income - 5,193<br />
Other income - 522<br />
Gains on investments<br />
Unrealised gains on revaluation of investment properties 8 - 5,072<br />
Total income - 10,787<br />
Expenditure<br />
Other expenses 2a, 3 (170) (3,001)<br />
Total expenditure (170) (3,001)<br />
Net operating profit/(loss) before finance costs (170) 7,786<br />
Net finance costs<br />
Interest revenue receivable 2,029 677<br />
Finance costs 4 (720) (762)<br />
1,309 (85)<br />
Net profit from ordinary activities before taxation 1,139 7,701<br />
Taxation on profit on ordinary activities 5 - (2,804)<br />
Net profit for the period 1,139 4,897<br />
Basic earnings per share 3.5p<br />
The accompanying notes are an integral part of this statement.<br />
18<br />
As at 31 December <strong>2006</strong><br />
Notes Company Group<br />
£’000 £’000<br />
Non-current assets<br />
Property, plant and equipment - 3<br />
Investment properties 8 - 283,010<br />
Investment in subsidiary undertakings 9 682 -<br />
Trade and other receivables 11a 143,554 2,135<br />
Deferred tax assets 10 - 159<br />
144,236 285,307<br />
Current assets<br />
Trade and other receivables 11b 18 16,723<br />
Cash and cash equivalents 12 25,294 33,581<br />
25,312 50,304<br />
Total assets 169,548 335,611<br />
Current liabilities<br />
Trade and other payables 13 (32,924) (20,617)<br />
Non-current liabilities<br />
Loans and borrowings 14 - (172,002)<br />
Deferred tax liabilities 10 - (2,583)<br />
- (174,585)<br />
Total liabilities (32,924) (195,202)<br />
Net assets 136,624 140,409<br />
Represented by:<br />
Share capital 15 - -<br />
Share premium 15 2,985 2,985<br />
Special distributable reserve 15 132,500 132,500<br />
Translation reserve 15 - 27<br />
Revenue reserve 15 1,139 4,897<br />
Equity shareholders’ funds 136,624 140,409<br />
Net asset value per share 100.3p<br />
The accounts on pages 18 to 32 were approved by the Board of Directors on 27 February 2007 and signed<br />
on its behalf by:<br />
J J Gamble H F Green<br />
Director Director<br />
The accompanying notes are an integral part of this statement.<br />
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