Half Yearly Financial Report -11-
July 22 2010 - 12:38PM
UK Regulatory
+--------------------------------------------------+----------+-------------+----------+-------------+
| Fair value of investments at period / year end | | 13,886,188 | | 15,354,217 |
+--------------------------------------------------+----------+-------------+----------+-------------+
| | | | | |
+--------------------------------------------------+----------+-------------+----------+-------------+
| | | | | |
+--------------------------------------------------+----------+-------------+----------+-------------+
| Closing book cost | | 14,793,537 | | 14,243,278 |
+--------------------------------------------------+----------+-------------+----------+-------------+
| Closing unrealised (depreciation) / appreciation | | (907,349) | | 1,110,939 |
+--------------------------------------------------+----------+-------------+----------+-------------+
| | | | | |
+--------------------------------------------------+----------+-------------+----------+-------------+
| | | 13,886,188 | | 15,354,217 |
+--------------------------------------------------+----------+-------------+----------+-------------+
| | | | | |
+--------------------------------------------------+----------+-------------+----------+-------------+
| Realised gains / (losses) on sales | | 402,906 | | (1,274,446) |
+--------------------------------------------------+----------+-------------+----------+-------------+
| Increase in unrealised (depreciation) / | | (2,018,288) | | 4,702,517 |
| appreciation | | | | |
+--------------------------------------------------+----------+-------------+----------+-------------+
| | | | | |
+--------------------------------------------------+----------+-------------+----------+-------------+
| Net (losses) / gains on financial assets | | | | |
| designated at fair value through profit or loss | | (1,615,382) | | 3,428,071 |
+--------------------------------------------------+----------+-------------+----------+-------------+
Transaction costs incidental to the acquisition of investments totalled GBP5,961
(Nov 2009: GBP20,161) and disposals of investments totalled GBP5,205 (Nov 2009:
GBP15,707) for the period.
The financial assets held by the Company have been classified as Level 1. This
is in accordance with the fair value hierarchy. There have been no transfers
between Level 1 and Level 3 of the fair value hierarchy during the period under
review.
+-------------------------------------------------------------------+
| Premier Renewable Energy Fund Limited |
+-------------------------------------------------------------------+
| |
| NOTES TO THE FINANCIAL STATEMENTS (UNAUDITED) |
| for the period ended 31 May 2010 |
+-------------------------------------------------------------------+
7 RECEIVABLES
+-------------------------------------------------+----------+----------+----------+----------+
| | | 31 May | | 30 Nov |
| | | 2010 | | 2009 |
| | | GBP | | GBP |
+-------------------------------------------------+----------+----------+----------+----------+
| | | | | |
+-------------------------------------------------+----------+----------+----------+----------+
| Investment transactions not settled | | - | | 163,650 |
+-------------------------------------------------+----------+----------+----------+----------+
| Prepayment | | 20,739 | | 10,939 |
+-------------------------------------------------+----------+----------+----------+----------+
| Accrued income | | 15,534 | | 15,534 |
+-------------------------------------------------+----------+----------+----------+----------+
| Sundry receivables | | 7,557 | | 15,870 |
+-------------------------------------------------+----------+----------+----------+----------+
| | | | | |
+-------------------------------------------------+----------+----------+----------+----------+
| | | 43,830 | | 205,993 |
+-------------------------------------------------+----------+----------+----------+----------+
8 PAYABLES
+------------------------------------------------+----------+-----------+----------+----------+
| (amounts falling due within one year) | | 31 May | | 30 Nov |
| | | 2010 | | 2009 |
| | | GBP | | GBP |
+------------------------------------------------+----------+-----------+----------+----------+
| | | | | |
+------------------------------------------------+----------+-----------+----------+----------+
| Investment transactions not settled | | - | | 764,844 |
+------------------------------------------------+----------+-----------+----------+----------+
| Accrued expenses | | 116,218 | | 78,197 |
+------------------------------------------------+----------+-----------+----------+----------+
| Zero Coupon Preference Share entitlement | | 4,597,974 | | - |
+------------------------------------------------+----------+-----------+----------+----------+
| | | | | |
+------------------------------------------------+----------+-----------+----------+----------+
| | | 4,714,192 | | 843,041 |
+------------------------------------------------+----------+-----------+----------+----------+
9 PAYABLES
+------------------------------------------------+----------+---------+----------+-----------+
| (amounts falling due after one year) | | 31 May | | 30 Nov |
| | | 2010 | | 2009 |
| | | | | GBP |
+------------------------------------------------+----------+---------+----------+-----------+
| | | | | |
+------------------------------------------------+----------+---------+----------+-----------+
| Zero Coupon Preference Share entitlement | | - | | 4,442,797 |
+------------------------------------------------+----------+---------+----------+-----------+
ZCP shares carry no entitlement to income distributions to be made by the
Company. The ZCP shares have no right to dividends but will be due to receive a
final capital entitlement at the end of their life on 31 December 2010 of
392.00p. It should be noted that the predetermined capital entitlement of a ZCP
share is not guaranteed and is dependent upon the Company's gross assets being
sufficient on 31 December 2010 to meet the final capital entitlement of the ZCP
shares. The ZCP shareholders have the right to receive notice of and attend,
but do not have the right to vote at, any general meeting.
Under the Company's Articles of Incorporation, the Company is obliged to redeem
all of the ZCP shares on 31 December 2010 (if such redemption has not already
been effected).
+-------------------------------------------------------------------+
| Premier Renewable Energy Fund Limited |
+-------------------------------------------------------------------+
| |
| NOTES TO THE FINANCIAL STATEMENTS (UNAUDITED) |
| for the period ended 31 May 2010 |
+-------------------------------------------------------------------+
10 SHARE CAPITAL
+-------------------------------------------+-+--------+----------+------------+
| Authorised | | | | GBP |
+-------------------------------------------+-+--------+----------+------------+
| | | | | |
+-------------------------------------------+-+--------+----------+------------+
| Unlimited number of shares of no par | | | | - |
| value | | | | |
+-------------------------------------------+-+--------+----------+------------+
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