Annual report and financial statements - NVM Private Equity Ltd.

Notes to the Financial Statementsfor the year ended 30 September 2003Year endedYear ended30 September 2003 30 September 20025 Other expenses £000 £000Administrative and secretarial services 41 41Directors’ remuneration 73 73Auditors’ remuneration – audit services 9 9Legal and professional expenses 31 25Irrecoverable VAT 23 19Other expenses 37 40214 207Year ended 30 September 2003 Year ended 30 September 2002Revenue Capital Revenue Capital6 Interest payable £000 £000 £000 £000Interest payable 47 — 23 —Year ended 30 September 2003 Year ended 30 September 2002Revenue Capital Revenue Capital7 Tax on profit/(loss) on ordinary activities £000 £000 £000 £000(a) Analysis of charge for the yearCorporation tax payable/(recoverable) 118 (118) 126 (126)(b) Tax reconciliationProfit/(loss) on ordinary activities before tax 823 97 846 (696)Profit/(loss) on ordinary activities multipliedby the standard rate of UK corporation tax of30% (2002 30%) 247 29 254 (209)Effect of:UK dividends not subject to tax (120) — (120) —Capital returns not subject to tax — (196) — 8Increase in excess management charges — 40 — 67Other (9) 9 (8) 8Current tax charge/(credit) for the year 118 (118) 126 (126)Year ended 30 September 2003 Year ended 30 September 2002Revenue Capital Revenue Capital8 Dividends £000 £000 £000 £000Interim paid – 0.7p (2002 1.0p) per share 281 — 410 —Final proposed – 4.3p (2002 1.0p) per share 397 1,309 407 —678 1,309 817 —PAGE 27 27 Northern Venture Trust PLC Annual Report and Accounts 2003