RNS Number:0755R
Holmes Financing (No.3) PLC
6 February 2002
THE FOLLOWING FINANCIAL INFORMATION IS TO BE FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION IN WASHINGTON DC TODAY AND ACCORDINGLY IS RELEASED FOR
INFORMATION TO THE LONDON STOCK EXCHANGE
Holmes Financing (No. 3) PLC
Profit & Loss Account
Period ended 15 January 2002
This Quarter Prior Quarter
£'000 £'000
Interest receivable - Inter-company loan 25,685 29,601
Interest receivable - Cash deposits - -
25,685 29,601
Interest payable - Notes (25,685) (29,601)
Interest payable
-
(25,685) (29,601)
Net operating income - -
Other income 42 42
Operating expenses (42) (42)
Profit on ordinary activities before taxation - -
Taxation - -
Profit on ordinary activities after taxation - -
Dividend - -
Retained profit brought forward - -
Retained profit carried forward - -
Holmes Financing (No. 3) PLC
Balance Sheet
Period ended 15 January 2002
£'000
Fixed asset investments
Loans to Funding 2,167,000
Current assets
Cash at bank 13
13
Creditors: Amounts falling due within one year
Taxation -
-
Net current assets 13
Total assets less current liabilities 2,167,013
Creditors: Amounts falling due after more than one year
Amounts due to noteholders (2,167,000)
Net assets 13
Capital and reserves
Share capital 13
Reserves -
13
Holmes Financing (No. 3) PLC
Notes Outstanding
Period ended 15 January 2002
Series 1 Class A Series 2 Class A Series 3 Class A
Moody's current rating Aaa Aaa Aaa
S&P current rating AAA AAA AAA
Fitch Ratings current rating AAA AAA AAA
Series 1 Class B Series 2 Class B Series 3 Class B
Moody's current rating Aa3 Aa3 Aa3
S&P current rating AA AA AA
Fitch Ratings current rating AA AA AA
Series 1 Class C Series 2 Class C Series 3 Class C
Moody's current rating Baa2 Baa2 Baa2
S&P current rating BBB BBB BBB
Fitch Ratings current rating BBB BBB BBB
Series 1 Class A Series 2 Class A Series 3 Class A
$ $ €
Initial note balance 1,060,000,000 1,060,000,000 805,000,000
Previous quarter's note principal 1,060,000,000 1,060,000,000 805,000,000
Note redemptions - - -
Outstanding note principal 1,060,000,000 1,060,000,000 805,000,000
Series 1 Class B Series 2 Class B Series 3 Class B
$ $ €
Initial note balance 32,500,000 32,500,000 24,000,000
Previous quarter's note principal 32,500,000 32,500,000 24,000,000
Note redemptions - - -
Outstanding note principal 32,500,000 32,500,000 24,000,000
Series 1 Class C Series 2 Class C Series 3 Class C
$ $ €
Initial note balance 53,000,000 53,000,000 50,000,000
Previous quarter's note principal 53,000,000 53,000,000 50,000,000
Note redemptions - - -
Outstanding note principal 53,000,000 53,000,000 50,000,000
Series 1 Class A Series 2 Class A Series 3 Class A
Note interest margins 12 16 24
Step up dates N/A N/A 16/07/2006
Step up margins N/A N/A 48
Series 1 Class B Series 2 Class B Series 3 Class B
Note interest margins 35 40 40
Step up dates 16/07/2006 16/07/2006 16/07/2006
Step up margins 70 80 80
Series 1 Class C Series 2 Class C Series 3 Class C
Note interest margins 120 127 150
Step up dates 16/07/2006 16/07/2006 16/07/2006
Step up margins 220 227 250
Interest payment cycle Quarterly
Interest payment date 15th or next business day
Next interest payment date 15/01/2002
Liquidity facility limit £ 30,000,000
Liquidity facility drawn Nil
Liquidity facility available £ 30,000,000
Holmes Trustees Limited
Profit & Loss Account
Period ended 15 January 2002
This Quarter Prior Quarter
£'000 £'000
Interest receivable - Mortgages 248,855 179,789
Interest receivable - Cash Deposits 2,554 2,380
251,409 182,169
Interest payable - Mortgages (248,855) (179,789)
Interest payable - Cash Deposits (2,554) (2,380)
(251,409) (182,169)
Net operating income - -
Fees receivable 2,022 1,630
Fees payable (2,022) (1,630)
Operating expenses (3,146) (2,697)
Provision charges (2,278) (83)
Other income 5,424 2,780
Profit on ordinary activities before taxation - -
Taxation - -
Profit on ordinary activities after taxation - -
Dividend - -
Retained profit brought forward - -
Retained profit carried forward - -
Holmes Trustees Limited
Balance Sheet
Period ended 15 January 2002
£'000
Fixed asset investments
Mortgage loans secured on residential property 17,863,753
Current assets
Bank interest receivable 459
Cash at bank 144,110
Other debtors -
144,569
Creditors: Amounts falling due within one year
Amounts due to Seller (137,389)
Amounts due to Funding (7,165)
Sundry creditors (15)
(144,569)
Net current assets -
Total assets less current liabilities 17,863,753
Creditors: Amounts falling after more than one year
Seller share of mortgage loans (5,893,763)
Funding share of mortgage loans (11,969,990)
Net assets -
Capital and reserves
Share capital (£2) -
Reserves -
-
Holmes Funding Limited
Profit & Loss Account
Period ended 15 January 2002
This Quarter Prior Quarter
£'000 £'000
Interest receivable - Mortgages 155,270 138,785
Interest receivable - Cash Deposits 2,123 2,237
157,393 141,022
Interest payable - Inter-company loans (134,365) (132,453)
Interest payable - Start up loans (776) (732)
(135,141) (133,185)
Net operating income 22,252 7,837
Other income 3,220 3,180
Operating expenses (5,985) (4,740)
Deferred consideration (20,134) (6,974)
Profit/(loss) on ordinary activities before taxation (647) (697)
Taxation (5) (4)
Profit/(loss) on ordinary activities after taxation (652) (701)
Dividend - -
Retained profit/(loss) brought forward (2,225) (1,524)
Retained profit/(loss) carried forward (2,877) (2,225)
Holmes Funding Limited
Balance Sheet
Period ended 15 January 2002
£'000
Fixed asset investments
Beneficial interest in Trust mortgage portfolio 11,969,990
Current assets
Amounts owed by Trustee 7,165
Deferred expenditure (costs of securing) 27,157
Cash at bank:
Reserve funding 129,075
Transaction account 696
Funding GIC account 19,437
183,530
Creditors: Amounts falling due within one year
Deferred consideration creditor 72,641
Interest payable accrual 2,966
Sundry creditors 905
Taxation 19
76,531
Net current assets 106,999
Total assets less current liabilities 12,076,989
Creditors: Amounts falling due after more than one
year
Inter-company loans (12,023,516)
Start up loans (56,350)
Net assets (2,877)
Capital and reserves
Share capital (£2) -
Reserves (2,877)
(2,877)
Holmes Funding Limited
First Issuer Notes to Balance Sheet
Period ended 15 January 2002
£'000 £'000
Balance on cash accumulation ledger Nil
Available credit enhancement
Reserve fund at closing 13,500
Initial closing reserve funds 127,076
Drawings to make bullet repayment -
Other drawings -
Transfers from revenue receipts 1,999
Closing reserve balance - 129,075
Target reserve funds 185,000
Principal deficiency ledger AAA BBB
Opening PDL balance Nil Nil
Losses this quarter - -
PDL top up from revenue income - -
Closing PDL balance Nil Nil Nil Nil
Start up loan outstanding
Initial balance 26,250
Initial closing outstanding 13,000
Second start up loan 13,250
Third start up loan 17,500
Fourth start up loan 7,500
Fifth start up loan 5,100
Accrued interest -
Repayments made -
Closing balance - 56,350
Liquidity facility
Liquidity facility limit 25,000
Liquidity facility drawn -
Liquidity facility available 25,000
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