Annual report and financial statements - NVM Private Equity Ltd.

ContentsFinancial summary 1Chairman’s statement 2Directors 4Advisers 5Shareholder information 6Investment manager’s review 7Investment portfolio 10Fifteen largest venture capital investments 11Directors’ report 16Directors’ remuneration report 18Corporate governance 20Profit and loss account 22Statement of total recognised gains and losses 22Balance sheet 23Cash flow statement 24Notes to the financial statements 25Independent auditors’ report 34Unaudited statement of total return 35Notice of annual general meeting 36Proxy formNorthern Venture Trust is a Venture Capital Trust (VCT) managed byNorthern Venture Managers. The trust was one of the first VCTs launchedon the London Stock Exchange and has to date raised a total of £44 millionfrom private investors. It invests mainly in unquoted venture capitalsituations and aims to provide high long-term returns to shareholdersthrough a combination of dividend yield and capital growth.