CLOSE BROTHERS

CLOSE BROTHERS PROTECTED VCT PLC11. Significant interestsNOTES TO THE FINANCIAL STATEMENTS(continued)Details of investments in which the Company has an interest of 3% or more of the nominal value of the allotted shares of any class, orof the net assets at 31 March 2005, are as follows. Greater detail of each investment is given in the portfolio of investments on pages 9to 17.Country of Description ofoperation and shares PercentageName of Undertaking incorporation held heldApplecroft Care Homes Limited Great Britain Ordinary shares 23%Barleycroft Care Home Limited Great Britain Ordinary shares 23%Churchill Taverns VCT Limited Great Britain Ordinary shares 8%City Screen (Liverpool) Limited Great Britain Ordinary shares 23%Clipper Ventures PLC Great Britain Ordinary shares 3%C S (Greenwich) Limited Great Britain Ordinary shares 7%Intelligent Environments Group PLC Great Britain Ordinary shares 5%Kew Green VCT (Stansted) Limited Great Britain Ordinary shares 20%Maplecroft VCT Limited Great Britain Ordinary shares 42%Pennant International Group PLC Great Britain Ordinary shares 5%The Bear Hungerford Limited Great Britain Ordinary shares 19%The Bold Pub Company Limited Great Britain Ordinary shares 9%The Independent Pub Co (VCT) Limited Great Britain Ordinary shares 8%The Place Sandwich VCT Limited Great Britain Ordinary shares 14%Youngs VCT Limited Great Britain Ordinary shares 21%Wickenhall Mill VCT Limited Great Britain Ordinary shares 27%12. Debtors31 March 31 March2005 2004£’000 £’000Other debtors 15 16Settlement of investments – 12Accrued income 95 96110 12413. Creditors: amounts falling due within one year31 March 31 March2005 2004£’000 £’000Operating creditors and accruals 145 121Proposed dividend 367 245Corporation tax payable 107 46619 41234