Annual report: Period Ended 31 December 2012 - Invesco Perpetual

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46 City Merchants High Yield Trust Limited Notes to the Financial Statements continued 7. Finance Costs 19 December 2011 to 31 December 2012 Revenue Capital Total £’000 £’000 £’000 Commitment fees due on loan facility 21 12 33 8. Taxation 19 December 2011 to 31 December 2012 £’000 Overseas taxation 42 For the period 19 December 2011 to 31 December 2012, the Company is subject to Jersey income tax at the rate of 0%. The overseas tax charge consists of irrecoverable withholding tax. 9. Return per Ordinary Share The basic revenue, capital and total return per ordinary share is based on each of the profit after tax and on 72,786,327 ordinary shares, being the weighted average number of ordinary shares in issue throughout the period. 10. Dividends on Ordinary Shares 19 December 2011 to 31 December 2012 Pence £’000 Dividends paid and recognised in the period: First interim 2.6 1,891 Second interim 2.5 1,820 5.1 3,711 Special interim dividend paid and recognised by City Merchants High Yield Trust plc 2.4 1,747 7.5 5,458 Set out below are the dividends that have been declared in respect of the financial period 19 December 2011 to 31 December 2012: 19 December 2011 to 31 December 2012 Pence £’000 First interim paid 2.6 1,891 Second interim paid 2.5 1,820 Third interim paid 28 February 2013 2.5 1,820 7.6 5,531 Special interim dividend paid by City Merchants High Yield Trust plc 2.4 1,747 10.0 7,278
City Merchants High Yield Trust Limited 47 11. Investments Held at Fair Value Through Profit or Loss (a) Analysis of investment profits 2012 £’000 Investments acquired from City Merchants High Yield Trust plc (note 15) 109,528 Movements in the period: Purchases at cost 18,171 Sales – proceeds (18,542) Sales – net realised loss on sales (39) Movement in investment holding profit 8,409 Closing valuation 117,527 Closing book cost 109,118 Closing investment holding profit 8,409 Closing valuation 117,527 Realised loss in the period (39) Movement in investment holding profit in the period 8,409 Total profit in the period 8,370 (b) Transaction costs There are no transaction costs on purchases and on sales of investments during the period. (c) Registration of investments The investments of the Company are registered in the name of the Company or in the name of nominees and held to the account of the Company. 12. Other Receivables 2012 £’000 Prepayments and accrued income 2,407 2,407 13. Other Payables 2012 £’000 Accruals 343 343 The Company has a 364 day £20 million multi-currency revolving credit facility with Bank of New York Mellon which is renewable on 10 May 2013. Interest payable is based on the interbank offered rate for the currency drawn down. At 31 December 2012 the Company had no drawdowns.
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Annual report: Period Ended 31 December 2012 - Invesco Perpetual

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