FORESIGHT 4 VCT PLC - Foresight Group

PRO FORMA FINANCIAL INFORMATION
The following pro forma financial information of the Company has been prepared for illustrative purposes
only, to show the impact of the Schemes on the Company’s unaudited net assets as at 30 September
2011 on the basis that the Schemes and the acquisition of the investment portfolio and all of the other
assets and liabilities of the Target VCTs by the Company had been completed on that date. This pro
forma financial information has been prepared in a manner consistent with the accounting policies of the
Company and the Target VCTs as adopted in their last published accounts (save for Foresight
Clearwater which has not published any accounts since incorporation).
The pro forma financial information has been prepared for illustrative purposes only and, because of its
nature, addresses a hypothetical situation and, therefore, does not represent the Company’s actual
financial position or results:
Company
(£’000)
(Note 1)
Acquisition
of the assets
and
liabilities
Foresight 5
(£’000)
(Note 2)
Acquisition
of the assets
and
liabilities
Acuity 3
(£’000)
Adjustments
(Note 3)
Acquisition
of the assets
and
liabilities
Foresight
Clearwater
(£’000)
(Note 4)
Expenses of
the
Schemes
(£’000)
(Note 5)
Enlarged
Company
pro forma
(£’000)
Investments (at fair value) 33,077 10,234 6,101 – – 49,412
Debtors 2,720 530 8 13 – 3,271
Other current assets 3,379 – –- – – 3,379
Cash at bank and in hand 1,642 717 459 1,113 – 3,931
Creditors: amounts falling
due within one year (812) (211) (80) (78) (462) (1,643)
Net current assets 6,929 1,036 387 1,048 (462) 8,938
Creditors: amounts falling
due in more than one year – (95) (118) – – (213)
Net assets 40,006 11,175 6,370 1,048 (462) 58,137
Notes:
1. The financial information on the Company has been extracted without material adjustment from the Company’s unaudited Half-Yearly Report for
the six month period ended 30 September 2011 as incorporated into this Prospectus in Part V of this document.
2. The acquired assets and liabilities of Foresight 5 are the assets and liabilities of Foresight 5 as extracted without material adjustment from
Foresight 5’s unaudited half-yearly report for the six month period ended 31 March 2011 as incorporated into this Prospectus in Part V of this
document.
3. The acquired assets and liabilities of Acuity 3 are the assets and liabilities of Acuity 3 as extracted without material adjustment from Acuity 3’s
unaudited half-yearly report for the six month period ended 31 March 2011 as incorporated into this Prospectus in Part V of this document.
4. The acquired assets and liabilities of Foresight Clearwater are the assets and liabilities of Foresight Clearwater as extracted without material
adjustment from Foresight Clearwater’s unaudited half-yearly report for the period from incorporation to 30 September 2011 as incorporated into
this Prospectus in Part V of this document.
5. Total costs of approximately £462,000 (inclusive of VAT) are expected to be incurred in relation to the Schemes and will be borne by each of the
Company and the Target VCTs.
6. The pro forma statement of net assets of the Company does not take account of any transactions of the Company or the Target VCTs or other
changes in the value of the assets and liabilities of the Company and Target VCTs since 30 September 2011 in respect of the Company,
31 March 2011 in respect of the Target VCTs and 30 September 2011 in respect of Foresight Clearwater.
7. The Schemes are expected to have an earning enhancing impact on the earnings of the Company had the acquisitions occurred on 1 April 2011.
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