Final Results

31 Jul 2006 16:30

Investec Investment Trust PLC31 July 2006 INVESTEC INVESTMENT TRUST PLC PRELIMINARY ANNOUNCEMENT PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2006 Restated 2006 2005 £000 £000 Administrative expenses (5) (10) Interest payable (63) (63) ------- -------Loss on ordinary activities before taxation (68) (73) Tax on loss on ordinary activities - - ------- -------Loss on ordinary activities rafter taxation (68) (73) ------- ------- Retained loss for the financial year (68) (73) ======= ======= Net assets 27,559 27,627 ======= ======= Notes 1. Cash Flow Statement The Company is exempt from the requirements to prepare a cash flow statement under Financial Reporting Standard 1, because a consolidated cash flow statement is included in the publicly available consolidated financial statements of its ultimate holding company, Invested plc. 2. The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards. The company has adopted FRS 21 "Events after the balance sheet date", with the effect that equity dividend receivable or payable after the balance sheet date have not been recognised as an asset or liability. This change has had no impact on the financial statements. The company also adopted FRS 25 "Financial Instruments: Presentation and Disclosure" and FRS 26 "Financial Instruments: Measurement". 3. Investec Group Investments (UK) Limited, a wholly-owned subsidiary of Investec Bank (UK) Limited, owns all of the ordinary shares of the company, £266,586 of the nominal 3.5 per cent cumulative preference stock and £96,612 of the nominal 5 per cent preference stock, in issue. The issued £1,300,000 nominal 3.5 per cent and £345,438 nominal 5 per cent cumulative preference stocks are listed on the London stock Exchange. 4. Surplus liquidity arising from time to time has been lent by the company during the period on an interest free basis to its immediate parent company, Investec Group Investment (UK) Limited. The loan is repayable on demand and the company has the right, at any time and at its sole discretion, to charge interest thereon at a commercial rate. 5. The tax charge is based on the effective tax rate for the full year. 6. No dividend is proposed in respect of the ordinary shares (2005:£Nil). 7. The above financial information is an abridged version of the company's full accounts which have not yet been filed with the Registrar of Companies. 8. The Report and Financial Statements will be posted to holders of preference stocks of the company and copies are available, upon request, at the Registered Office of the company. Registered Office Dated 31 July 2 Gresham Street London EC2V 7QP Registered In England No. 328206 This information is provided by RNS The company news service from the London Stock Exchange