Interim Results
May 01 2003 - 1:04PM
UK Regulatory
RNS Number:6559K
Royal London UK Eqty&Income SecsPLC
01 May 2003
ROYAL LONDON UK EQUITY & INCOME SECURITIES PLC
Preliminary Announcement of unaudited interim results for the half year
ended 28 February 2003
Statement of Total Return (unaudited)
(incorporating the revenue account)
for the half year ended 28 February 2003
(Unaudited) (Unaudited) (Audited)
Half year ended Period from Period from
28 February 2003 31 August 2001 to 31 August 2001 to
28 February 2002 31 August 2002
Revenue Capital Total Revenue Capital Total Revenue Capital Total
Notes # # # # # # # # #
Accrued
redemption
premium
receivable
from
parent
company - 741,044 741,044 - 781,875 781,875 - 1,678,781 1,678,781
Transfer
on buy
back of
ZDP shares - (675,472) (675,472) - - - - - -
Other
interest
receivable
and
similar
income 204 - 204 - - - 57 - 57
--------- -------- --------- --------- ---------- ---------- --------- ---------- ----------
Gross
revenue
and
capital
gains 204 65,572 65,776 - 781,875 781,875 57 1,678,781 1,678,838
Administrative - - - - - - - - -
expenses
--------- -------- --------- --------- ---------- ---------- --------- ---------- ----------
Net
return on
ordinary
activities
before
taxation 204 65,572 65,776 - 781,875 781,875 57 1,678,781 1,678,838
Taxation
on net
return on
ordinary
activities - - - - - - - - -
--------- -------- --------- --------- ---------- ---------- --------- ---------- ----------
Net
return on
ordinary
activities
after
taxation 204 65,572 65,776 - 781,875 781,875 57 1,678,781 1,678,838
Appropriations
in
respect
of
non-equity
shares - (65,572) (65,572) - (781,875) (781,875) - (1,678,781) (1,678,781)
--------- -------- --------- --------- ---------- ---------- --------- ---------- ----------
Transfer 204 - 204 - - - 57 - 57
to
reserves
======== ======= ======= ======= ======== ======== ======= ======== ========
Return
per share:
Ordinary 1 0.41p - 0.41p - - - 0.11p - 0.11p
ZDP 1 - 4.59p 4.59p - 3.91p 3.91p - 8.40p 8.40p
The revenue column of this statement represents the revenue account of the
company.
Balance Sheet (unaudited)
at 28 February 2003
(Unaudited) (Unaudited) (Audited)
28 February 2003 28 February 2002 31 August 2002
Notes # # #
Current assets
Debtors 21,786,272 20,831,875 21,719,661
Cash at bank 8,276 - 9,177
--------------- --------------- ---------------
Total net assets 21,794,548 20,831,875 21,728,838
========= ========= =========
Capital and reserves
Called-up share capital 50,134 50,200 50,200
Share premium 19,999,800 19,999,800 19,999,800
Reserve for redemption premium 1,744,353 781,875 1,678,781
Revenue reserve 261 - 57
--------------- --------------- ---------------
21,794,548 20,831,875 21,728,838
========= ========= =========
Funds attributable to:
Equity shareholders 6,626,095 50,000 50,057
Non-equity shareholders 15,168,453 20,781,875 21,678,781
--------------- --------------- ---------------
21,794,548 20,831,875 21,728,838
========= ========= =========
Net asset value per share:
ZDP 2 112.99p 103.91p 108.40p
Approved by the Board of Directors on 1 May 2003
Jonathan Carr
Chairman
NOTES TO THE ACCOUNTS
1. Return per share
Revenue return per ordinary share is based on the net revenue attributable to
the ordinary shares of #204 (period ended 28 February 2002: #nil; period ended
31 August 2002: #57) and on 50,000 ordinary shares (period ended 28 February
2002 and period ended 31 August 2002: 50,000), being the weighted average number
of ordinary shares in issue during the half year ended 28 February 2003.
The capital return per ZDP share is based on appropriations of #741,044 (period
ended 28 February 2002: #781,875; period ended 31 August 2002: #1,678,781), and
on 16,146,622 ZDP shares (period ended 28 February 2002; period ended 31 August
2002: 20,000,000), being the weighted average number of ZDP shares in issue
during the half year ended 28 February 2003.
2. Net asset value per ZDP share
The net asset value per ZDP share is based on net ZDP shareholders' funds of
#15,168,453 (28 February 2002: #20,781,875; 31 August 2002: #21,678,781) and on
13,424,100 (2002: 20,000,000) ZDP shares, being the number of ZDP shares in
issue at 28 February 2003.
3. Parent undertaking
The company is a wholly owned subsidiary undertaking of Royal London UK Equity &
Income Trust plc, an investment company registered in England and Wales and
operating in the United Kingdom.
4. Cash flow statement
The company has taken advantage of the exemptions allowed by FRS1 not to prepare
a cash flow statement as it is a wholly owned subsidiary undertaking of Royal
London UK Equity & Income Trust plc.
5. 2003 interim accounts
The figures and financial information for the period ended 28 February 2003 do
not constitute statutory accounts under Section 240 of the Companies Act 1985.
This information is provided by RNS
The company news service from the London Stock Exchange
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