Annual report and financial statements - NVM Private Equity Ltd.

Income Statement
for the year ended 31 October 2007
Year ended 31 October 2007 Year ended 31 October 2006
Revenue Capital Total Revenue Capital Total
Notes £000 £000 £000 £000 £000 £000
Gain on disposal of investments 8 – 380 380 – 70 70
Unrealised adjustments to fair value of investments 8 – 1,393 1,393 – (123) (123)
– 1,773 1,773 – (53) (53)
Income 2 318 – 318 332 – 332
Investment management fee 3 (79) (236) (315) (84) (251) (335)
Other expenses 4 (170) – (170) (154) – (154)
Return on ordinary activities before tax 69 1,537 1,606 94 (304) (210)
Tax on return on ordinary activities 5 – – – – – –
Return on ordinary activities after tax 69 1,537 1,606 94 (304) (210)
Return per share 7 0.3p 6.8p 7.1p 0.4p (1.3)p (0.9)p
• The total column of this statement is the profit and loss account of the company. The supplementary revenue return and capital
return columns have been prepared under guidance published by the Association of Investment Companies.
• There are no recognised gains or losses other than those disclosed in the income statement.
• All items in the above statement derive from continuing operations.
• The accompanying notes are an integral part of this statement.
Reconciliation of Movements in Shareholders' Funds
for the year ended 31 October 2007
Year ended
Year ended
31 October 2007 31 October 2006
Notes £000 £000
Equity shareholders' funds at 1 November 2006 13,250 14,308
Return on ordinary activities after tax 1,606 (210)
Dividends recognised in the year 6 (228) (472)
Net proceeds of share issues 26 55
Shares purchased for cancellation (722) (431)
Expenses charged to capital reserve (18) –
Equity shareholders' funds at 31 October 2007 13,914 13,250
• The accompanying notes are an integral part of this statement.
28 Northern AIM VCT PLC Annual Report and Accounts 2007