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Foresight 2 VCT plc
14
Notes to the Half-Yearly Results
1. The unaudited interim results have been prepared on the basis of accounting policies set out in the statutory accounts of the
Company for the year ended 30 September 2007. Unquoted investments have been valued in accordance with IPEVC
guidelines. Quoted investments are stated at bid prices in accordance with the IPEVC guidelines and Generally Accepted
Accounting Practice.
2. These are not statutory accounts in accordance with section 240 of the Companies Act 1985 and are neither audited nor
reviewed. Statutory accounts in respect of the period to 30 September 2007 have been audited and reported on by the
Company’s auditors and delivered to the Registrar of Companies. No statutory accounts in respect of any period after
30 September 2007 have been reported on by the Company’s auditors or delivered to the Registrar of Companies.
3. Copies of the Interim Report will be sent to shareholders and will be available for inspection at the Registered Office of the
Company at ECA Court, South Park, Sevenoaks, Kent TN13 1DU.
4. The net asset value per share for both the Ordinary Share and the C Shares has been calculated on the appropriate allocation of
the Company’s assets and liabilities. Other than expenses specifically attributable to one fund or the other, all the remaining
costs were attributed to the Ordinary Share fund to 31 March 2007. From 1 April 2007 to 31 March 2008 60 per cent of the
joint costs incurred are allocated to the Ordinary Share fund and 40 per cent to the C Share fund, based on original funds
raised. From 31 March 2008 all costs will be split equally between the two funds. The Net Asset Value per Ordinary Share is
based on net assets of £20,746,468 (31 March 2007: £19,735,461) of the Ordinary Share fund at 31 March 2008 and on
20,951,094 (31 March 2007: 19,514,212) Ordinary Shares, being the number of Ordinary Shares in issue at that date. The Net
Asset Value per C Share is based on net assets of £19,102,392 (31 March 2007: 8,936,279) of the C Share fund at 31 March
2008 and on 18,610,589 (31 March 2007: 9,474,896) C Shares, being the number of C Shares in issue at that date.
5. Earnings for the first six months should not be taken as a guide to the results for the full year. The total earnings after taxation
were £1,425,000 (31 March 2007: £1,291,000), being made up of a deficit on the Ordinary Share fund of £223,000 (31 March
2007: surplus of £1,305,000), and a surplus on the C Share fund of £1,648,000 (31 March 2007: deficit of £14,000).
The revenue return per Ordinary Share is based on the revenue surplus for the period of £157,000 (31 March 2007: surplus of
£25,000) and on 19,738,338 Ordinary Shares (31 March 2007: 19,539,194 Ordinary Shares), being the total weighted average
number of Ordinary Shares in issue during the period. The capital return per Ordinary Share is based on the capital deficit for the
period of £380,000 (31 March 2007: surplus of £1,280,000) and on 19,738,338 Ordinary Shares (31 March 2007: 19,539,194
Ordinary Shares), being the weighted average number of Ordinary Shares in issue during the period. The total return per
Ordinary Share is based on the total deficit for the period of £223,000 (31 March 2007: surplus of £1,305,000) and on
19,738,338 Ordinary Shares (31 March 2007: 19,539,194 Ordinary Shares), being the weighted average number of Ordinary
Shares in issue during the period.
The revenue return per C Share is based on the revenue surplus for the period of £300,000 (31 March 2007: deficit of £2,000)
and on 14,646,797 C Shares (31 March 2007: 1,811,818 C Shares), being the total weighted average number of C Shares in
issue during the period. The capital return per C Share is based on the capital surplus for the period of £1,348,000 (31 March
2007: deficit of £12,000) and on 14,646,797 C Shares (31 March 2007: 1,811,818 C Shares), being the weighted average
number of C Shares in issue during the period. The total return per C Share is based on the total surplus for the period of
£1,648,000 (31 March 2007: deficit of £14,000) and on 14,646,797 C Shares (31 March 2007: 1,811,818 C Shares), being the
weighted average number of C Shares in issue during the period.