Annual report and financial statements - NVM Private Equity Ltd.

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DirectorsProfessor Sir FrederickHolliday CBE FRSE (Chairman),aged 68, is chairman ofNorthumbrian Water GroupPLC and Brewin DolphinHoldings PLC and a nonexecutivedirector of Northern2 VCT PLC. He is a marinescientist and was vicechancellorof the University ofDurham from 1980 to 1990.Michael Denny MSI,aged 60, is the chairman ofNorthern Venture ManagersLimited and was previouslyNorth-East region director ofthe National Enterprise Board.He is a non-executive directorof Northern InvestorsCompany PLC, Northern 2 VCTPLC, Deep-Sea Leisure PLC andPostern Fund ManagementLimited and is a past chairmanof the British Venture CapitalAssociation.John Hustler FCA MSI, aged57, was for ten years acorporate finance partner atKPMG, where he was head ofventure capital; he formedHustler Venture PartnersLimited, a specialist adviser tosmall firms, in 1993. He ischairman of Northern 3 VCTPLC and a non-executivedirector of ATA Group plc andof a number of othercompanies.Tim Levett MBA, aged 54, isthe investment director ofNorthern Venture ManagersLimited. He is a non-executivedirector of Northern 3 VCT PLCand of several unquotedcompanies.Ross Peters MA, aged 60, wasa director of MurrayJohnstone Limited for fifteenyears and chief executive andfounder of their venturecapital activities. He formedStevenson Stewart, an advisorto technology basedcompanies, in 1992. He is anon-executive director of anumber of other public andprivate companies.Primrose Scott CA, aged 63,was formerly head of qualityreview at the Institute ofChartered Accountants ofScotland (ICAS) and seniorpartner of The McCabePartnership, and is a pastpresident of ICAS. She is vicechairman of the DunfermlineBuilding Society.PAGE 4 Northern Venture Trust PLC Annual Report and Accounts 2003
AdvisersSecretary and Registered OfficeChristopher Mellor FCA MSINorthumberland HousePrincess SquareNewcastle upon Tyne NE1 8ERTelephone: 0191 244 6000Fax: 0191 244 6001E-mail: nvt@nvm.co.ukRegistered Number3090163Investment ManagerNorthern Venture Managers LimitedNorthumberland HousePrincess SquareNewcastle upon Tyne NE1 8ERQuoted Investment AdvisersChiswell Associates Limited4 Chiswell StreetFinsbury SquareLondon EC1Y 4UPIndependent AuditorsKPMG Audit PlcSaltire Court20 Castle TerraceEdinburgh EH1 2EGSolicitorsDickinson DeesSt Ann’s Wharf112 QuaysideNewcastle upon Tyne NE99 1SBS J Berwin222 Gray’s Inn RoadLondon WC1X 8XFStockbrokersBrewin Dolphin Securities LtdCommercial Union House39 Pilgrim StreetNewcastle upon Tyne NE1 6RQBankersBank of ScotlandHead OfficeThe MoundEdinburgh EH1 1YZRegistrarsLloyds TSB Registrars ScotlandPO Box 28448Finance HouseOrchard BraeEdinburgh EH4 1WQShareholder helpline: 0870 601 5366Taxation AdvisersPricewaterhouseCoopers LLP1 Embankment PlaceLondon WC2N 6RHPAGE 5 Northern Venture Trust PLC Annual Report and Accounts 2003
Page 1 and 2: 2003Northern Venture Trust PLCAnnua
Page 3 and 4: Financial SummaryYear ended 30 Sept
Page 5: Chairman’s StatementAt 30 Septemb
Page 10 and 11: Investment Manager’s Review£233,
Page 12 and 13: Investment Portfolioas at 30 Septem
Page 14 and 15: Fifteen Largest Venture Capital Inv
Page 16 and 17: Fifteen Largest Venture Capital Inv
Page 18 and 19: Directors’ ReportThe directors pr
Page 20 and 21: Directors’ Remuneration ReportThi
Page 22 and 23: Corporate GovernanceThe company is
Page 24 and 25: Profit and Loss Accountfor the year
Page 26 and 27: Cash Flow Statementfor the year end
Page 28 and 29: Notes to the Financial Statementsfo
Page 36 and 37: Independent Auditors’ ReportTo th
Page 38 and 39: Notice of Annual General MeetingNot

Annual report and financial statements - NVM Private Equity Ltd.

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