Interim Results
April 20 2007 - 7:32AM
UK Regulatory
RNS Number:2390V
Royal London UK Eqty&Income SecsPLC
20 April 2007
ROYAL LONDON UK EQUITY & INCOME SECURITIES PLC
Preliminary announcement of unaudited interim results for the half year ended 28
February 2007
Income Statement
for the half year ended 28 February 2007
(Unaudited) (Unaudited)
Half year ended Half year ended (Audited)
28 February 28 February Year ended
2007 2006 31 August
Notes #'000 #'000 2006
#'000
Profit on ordinary activities before and after taxation _ _ _
Finance costs 2 (233) (772) (1,589)
--------- -------- ----------
Loss for the period/year (233) (772) (1,589)
===== ===== ======
Loss per Ordinary share 3 (466.00p) (1,544.00p) (3,178.00p)
Statement of Changes in Equity
for the half year ended 28 February 2007 (unaudited)
Ordinary Capital Profit & loss
Share Capital reserve account Total
#'000 #'000 #'000 #'000
At 31 August 2006 50 6,576 (6,343) 283
Loss for the period _ _ (233) (233)
-------- -------- ---------- --------
At 28 February 2007 50 6,576 (6,576) 50
===== ===== ====== =====
for the half year ended 28 February 2006 (unaudited) Ordinary Capital Profit & loss
Share Capital reserve account Total
#'000 #'000 #'000 #'000
At 31 August 2005 50 6,576 (4,754) 1,872
Loss for the period _ _ (772) (772)
-------- -------- ---------- --------
At 28 February 2006 50 6,576 (5,526) 1,100
===== ===== ====== =====
for the year ended 31 August 2006 (audited) Ordinary Capital Profit & loss
Share Capital reserve account Total
#'000 #'000 #'000 #'000
At 31 August 2005 50 6,576 (4,754) 1,872
Loss for the year - - (1,589) (1,589)
------- --------- ---------- ---------
At 31 August 2006 50 6,576 (6,343) 283
==== ===== ====== =====
Balance Sheet
at 28 February 2007
(Unaudited) (Unaudited) (Audited)
Half year ended Half year ended Year ended
28 February 28 February 31 August
2007 2006 2006
Notes #'000 #'000 #'000
Current assets
Amounts due from parent undertaking 2 20,650 20,042 20,042
Cash at bank 8 8 8
---------- ----------- -----------
20,658 20,050 20,050
----------- ----------- -----------
Non-current liabilities
Attributable to ZDP shareholders (20,608) (18,950) (19,767)
----------- ----------- -----------
Net assets 50 1,100 283
----------- ----------- -----------
Attributable to equity shareholders
Ordinary share capital 50 50 50
Capital reserve 6,576 6,576 6,576
Profit and loss account (6,576) (5,526) (6,343)
----------- ----------- -----------
Total equity 50 1,100 283
----------- ----------- -----------
Net asset value per:
Ordinary share 4 100.00p 2,200.00p 566.00p
ZDP share 4 158.05p 145.33p 151.60p
Notes to the Accounts
for the half year ended 28 February 2007
1. ACCOUNTING POLICIES
The financial statements of the Company have been prepared in accordance with
International Financial Reporting Standards ("IFRS") which comprise standards
and interpretation approved by the International Accounting Standards Board ("
IASB"), and International Accounting Standards Committee interpretations
approved by the International Accounting Standards Committee ("IASC") that
remain in effect, and to the extent that they have been adopted by the European
Union.
2. AMOUNTS DUE FROM PARENT UNDERTAKING
This is the amount due from Royal London UK Equity & Income Trust plc accrued in
respect of the redemption of ZDP shares to be made on 14 September 2008.
3. LOSS PER SHARE
The loss per Ordinary share is calculated by dividing the net loss of #233,000
(28 February 2006: #772,000; 31 August 2006: #1,589,000) by the number of shares
in issue throughout the year of 50,000 (28 February 2006 and 31 August 2006:
same).
4. NET ASSET VALUE PER SHARE
Net asset value per Ordinary share is based on net assets attributable to the
Ordinary shares of #50,000 (28 February 2006: #1,100,000; 31 August 2006:
#283,000) and 50,000 (28 February 2006 and 31 August 2006: same) Ordinary shares
in issue at 28 February 2007.
The net asset value per ZDP share is based on net assets attributable to ZDP
shares of #20,608,000 (28 February 2006: #18,950,000; 31 August 2006:
#19,767,000) and 13,039,100 (28 February 2006 and 31 August 2006: same) ZDP
shares in issue at 28 February 2007.
5. PARENT UNDERTAKING
The Company is a wholly owned subsidiary undertaking of Royal London UK Equity &
Income Trust plc, an investment trust company registered in England and Wales
and operating in the United Kingdom.
6. CASH FLOW STATEMENT
The Company's cash balances have not moved in the current and prior periods.
7. 2006 ACCOUNTS
The figures and financial information for the year ended 31 August 2006 are
extracted from the latest published accounts of the Group and Subsidiary Company
and do not constitute statutory accounts for that year. Those accounts have been
delivered to the Registrar of Companies and include the report from the Auditors
which was unqualified and did not contain a statement under either Section 237
(2) or 237(3) of the Companies Act 1985.
For further information please contact
Royal London Asset Management Limited
Tel: 0207 5066500
20 April 2007
This information is provided by RNS
The company news service from the London Stock Exchange
END
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