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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| New Century Aim Vct Plc | LSE:NCA | London | Ordinary Share | GB00B06JWZ91 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 25.50 | 1.00 | 50.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMNCA
New Century AIM VCT plc
For the six months to 31st August 2016
Chairman's Statement
In the six months to 31st August 2016, the net asset value (NAV) of your fund fell 1.1% to 75.75p. The FTSE AIM Allshare Index increased by 13.65% over the same period.
The fund went ex-dividend to the amount of 3.2p per share in August which falls within the accounting period under review. If we add that back to the NAV, the fund increased by 3.1%.
The period started well, however in June we had the shock result of the BREXIT referendum which caused sharp falls across most indices, with the AIM All Share Index being one. Your fund was not immune to these falls as we reported a NAV of 81.64p as at the end of May 2016, but by the end of June this had fallen to 74.69p. The Markets have since absorbed the outcome of the referendum and have staged encouraging gains and your funds NAV has now recovered to 80.7p as at 20th October 2016.
We continue to expect volatility within the smaller companies sector as we await confirmation of the timetable of our withdrawal from the E.U., although we are currently seeing some attractively priced fund raisings starting to appear.
We made nine further VCT qualifying investments in the period, YU Group, MaxCyte, Scancell, Medaphor Group, Imaginatik, Cyan Holdings, SysGroup and LoopUp.
We top sliced or exited 3 qualifying holdings and 4 non-qualifying.
We are cautiously optimistic for the second half of the year.
Geoff Gamble
26 October 2016
New Century AIM VCT plc
For the six months to 31st August 2016
Unaudited Balance Sheet
Hot Features
Premium
Interim Accounts Final Accounts Interim Accounts
as at 31 August 2016 as at 28 February 2016* as at 31 August 2015
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Fixed
Assets
Investments 6,416 5,971 6,849
Current
Assets
Uninvested cash 292 443 986
292 443 986
Current
Liabilities
Creditors: amounts due
within one year (17) (27) (30)
6,691 6,387 7,805
Capital and
Reserves
Share capital 873 863 959
Share premium 681 612 612
Capital reserve - realised 1,136 1,140 1,235
Capital reserve - unrealised 1,688 1,483 1,787
Capital redemption reserve 313 313 217
Revenue reserve 2,000 1,976 2,995
6,691 6,387 7,805
Asset Value 77p 74p 81p
per share
*Audited accounts
New Century AIM VCT plc
For the six months to 31st August 2016
Unaudited Statement of Comprehensive Income
(incorporating the revenue account)
6 month period ended 31 August 2016 Year to 28 February 2016* 6 month period ended 31 August 2015
Revenue Capital Total Revenue Capital Total Revenue Capital Total
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Gains on investments
Realised - 58 58 - 282 282 - 212 212
Unrealised - 180 180 - 182 182 - 623 623
Income 59 - 59 118 - 118 61 - 61
Investment management fees (13) (39) (52) (19) (57) (76) (10) (29) (39)
Other expenses (22) - (22) (48) - (48) (26) - (26)
Return on ordinary activities 24 199 223 51 407 458 25 806 831
Tax on ordinary activities - - - - - - - - -
Return on ordinary activities
after taxation 24 199 223 51 407 458 25 806 831
Return per ordinary share in pence 0.28 2.29 2.57 0.54 4.35 4.89 0.26 8.41 8.67
*Audited Accounts
All revenue and capital items in the above statement derive from continuing operations.
The company has only one class of business and derives its income from investments in shares and securities, and
from bank and money market funds.
The weighted average number of shares in issue during the period was 8,717,526
New Century AIM VCT plc
For the six months to 31st August 2016
Unaudited Consolidated Statement of Changes in Equity
Share Share Capital Capital Capital Revenue
Capital Premium Redemption realised unrealised reserve
accountGBP'000 accountGBP'000 Reserve GBP'000 GBP'000 GBP'000
GBP'000
As at 1 863 611 313 1140 1,483 1,976
March
2016
Share 10 70
issue
Share - -
buy-back
Realised - - - 59 - -
gains
on
disposals
Unrealised - - - - 180 -
gains
Transfer - - - (24) 25 -
of
unrealised
loss
to
realised
on
disposal
of
investment
Net - - - - - 24
revenue
before
tax
Investment - - - (39) - -
management -
fee
________ ________ _________ ________ ________ ________
At 873 681 313 1,136 1,688 2,000
31 August
2016
As at 1 950 549 217 193 2,023 2,970
March
2015
Share 9 63
issue
Realised - - - 212 - -
gains
on
disposals
Unrealised - - - - 623 -
gains
Transfer - - - 859 (859) -
of
unrealised
loss
to
realised
on
disposal
of
investment
Net - - - - - 25
revenue
before
tax
Investment - - - (29) - -
management
fee
________ ________ _________ ________ ________ ________
At 959 612 217 1,235 1,787 2,995
31 August
2015
New Century AIM VCT plc
For the six months to 31st August 2016
Unaudited Cash Flow Statement
6 month period ended 31 August 2016 Year to 28 February 2016* 6 month period ended 31 August 2015
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Net cash generated from (83) (125) (64)
operating activities
Cash flows from investing
activities
Interest received 1 7 4
Investment income 58 111 57
Net cash from investing 59 118 61
activities
Taxation - - -
Cash flows from investing
activities
Sale of investments 236 2,496 1,797
Purchase of investments (443) (1,734) (1,541)
Share Issue 80 72 72
Dividends paid - (297) -
Share cancellation - (748) -
Net cash used in financing (127) (211) 328
activities
Net decrease in cash (151) (218) 325
and cash equivalents
Cash and cash equivalents 443 661 661
at beginning of year
Cash and cash equivalents 292 443 986
at end of year
*Audited Accounts
New Century AIM VCT plc
For the six months to 31st August 2016
Investment Portfolio
Security Cost Valuation % %
31 August 2016 Cost Valuation
Qualifying Investments 8,070,196 5,743,720 88.00 85.61
Non-qualifying 808,433 672,954 8.82 10.04
Investments
8,878,629 6,416,674 96.82 95.65
Uninvested funds 291,822 291,822 3.18 4.35
9,170,451 6,708,496 100.00 100.00
Qualifying Investments
AIM Quoted
Tristel plc 163901.00 550069.00 1.79 8.20
PHSC plc 182910.00 77000.00 1.99 1.15
DCD Media plc 562800.00 1955.00 6.13 0.03
Legion Group plc 175875.00 0.00 1.91 0.00
K3 Business Technology 90360.00 317682.00 0.99 4.73
Group
Touchstar plc 281400.00 81250.00 3.07 1.21
Progility plc 753750.00 4375.00 8.21 0.06
Lighthouse Group plc 203513.00 135000.00 2.22 2.01
Invocas Group plc 100400.00 9000.00 1.09 0.13
Relax Group plc 135675.00 0.00 1.48 0.00
Vianet Group 40175.00 31525.00 0.44 0.47
HML Holdings plc 351549.00 396800.00 3.83 5.91
Welby Holdings lc 502500.00 0.00 5.48 0.00
Kurawood plc 150750.00 0.00 1.64 0.00
Optare plc 50753.00 0.00 0.55 0.00
Cyan Holdings plc 376755.00 225536.00 4.11 3.36
Marechale Capital plc 133828.00 16563.00 1.46 0.25
Lombard Risk Mgt plc 24120.00 45000.00 0.26 0.67
M.Winkworth plc 72360.00 93600.00 0.79 1.40
Bango plc 7563.00 15050.00 0.08 0.22
Coretx Holdings plc 82913.00 45375.00 0.90 0.68
Kennedy Ventures plc 70350.00 250.00 0.77 0.00
Tax Systems plc 250020.00 1262.00 2.73 0.02
TP Group plc 109278.00 39866.00 1.19 0.59
Brady plc 41805.00 47235.00 0.46 0.70
Music Festivals plc 68090.00 0.00 0.74 0.00
Inspired Energy plc 51370.00 209238.00 0.56 3.12
Microsaic Systems plc 78978.00 7515.00 0.86 0.11
Venn Life Sciences plc 115581.00 131952.00 1.26 1.97
DP Poland plc 20113.00 69368.00 0.22 1.03
Modern Water plc 50253.00 5500.00 0.55 0.08
Quixant plc 11559.00 57500.00 0.13 0.86
Litebulb Group Ltd 102266.00 0.00 1.12 0.00
Blur Group 4991.00 192.00 0.05 0.00
Keywords Studios plc 30907.00 90250.00 0.34 1.35
New Century AIM VCT plc
For the six months to 31st August 2016
Investment Portfolio (continued)
Qualifying Investments (continued) AIM Quoted (continued) Cloudbuy plc 58483.00 10387.00 0.64 0.15 EU Supply plc 15333.00 6412.50 0.17 0.10 Plastics Capital plc 30153.00 32100.00 0.33 0.48 Sysgroup plc 99177.00 98671.00 1.08 1.47 Brighton Pier Group plc 50253.00 35938.00 0.55 0.54 Kalibrate Technologies 31761.00 28800.00 0.35 0.43 Syqic plc 19943.00 5120.00 0.22 0.08 Outsourcery plc 45027.00 0.00 0.49 0.00 Martinco plc 100502.00 125000.00 1.10 1.86 Solid State plc 40134.00 59400.00 0.44 0.89 Audioboom Group 22615.00 37500.00 0.25 0.56 Scholium Group 50253.00 17000.00 0.55 0.25 Rosslyn Data Tech plc 27037.00 7336.00 0.29 0.11 Coral Products plc 118095.00 158333.00 1.29 2.36 SRT Marine Systems plc 27139.00 73200.00 0.30 1.09 ULS Technology plc 135679.00 222750.00 1.48 3.32 Nostra Terra Oil & Gas plc 12667.00 1176.00 0.14 0.02 Mountfield Group plc 18481.00 12000.00 0.20 0.18 Collagen Solutions plc 20757.00 24485.00 0.23 0.36 Gfinity plc 96021.00 57382.50 1.05 0.86 Ideagen plc 28430.00 44924.00 0.31 0.67 Premier Technical Services Group 130963.00 187945.00 1.43 2.80 Angle plc 125880.00 115615.00 1.37 1.72 Bilby plc 156673.00 290271.00 1.71 4.33 Hunters Property plc 251256.00 340000.00 2.74 5.07 Satellite Solutions Group 253774.00 392778.00 2.77 5.85 Tekcapital plc 135683.00 202500.00 1.48 3.02 Falanx Group Ltd 51460.00 14629.00 0.56 0.22 Gear4Music Holdings 115830.00 135150.00 1.26 2.01 Premaitha Health plc 69349.00 37950.00 0.76 0.57 Belvoir Lettings plc 23320.00 26400.00 0.25 0.39 Photonstar LED group plc 35179.00 25200.00 0.38 0.38 Yu Group plc 27893.00 35250.00 0.30 0.53 Maxcyte Inc 25128.00 29285.00 0.27 0.44 Scancell Holdings plc 54877.00 54600.00 0.60 0.81 Medaphor Group plc 75373.00 68324.00 0.82 1.02 Imaginatik plc 40207.00 24000.00 0.44 0.36 Total Qualifying Investments 8,070,196 5,743,720 88.00 85.61
New Century AIM VCT plc
For the six months to 31st August 2016
Investment Portfolio (continued)
Non Qualifying Investments
AIM Quoted
Sanderson Group 37009.00 70000.00 0.41 1.05
Rotala plc 60796.00 105600.00 0.66 1.58
Tristel plc 60.00 131.00 0.00 0.00
K3 Business Technology 131.00 318.00 0.00 0.00
Bango plc 291.00 172.00 0.00 0.00
China Food Co plc 65969.00 2300.00 0.72 0.04
Numis Corp 16570.00 43400.00 0.18 0.65
Gable Holdings 12112.00 1250.00 0.13 0.02
Lombard Risk Mgt plc 131.00 75.00 0.00 0.00
Coretx Holdings plc 218.00 33.00 0.00 0.00
Brady plc 106.00 67.00 0.00 0.00
Cyan Hldgs 130.00 39.00 0.00 0.00
Sorbic Int 18717.00 2660.00 0.21 0.04
Driver Group 8992.00 4000.00 0.10 0.06
TLA Worldwide plc 29118.00 52461.00 0.32 0.78
Mar City plc 10053.00 4500.00 0.11 0.07
Minds & Machines Group Ltd 12063.00 11000.00 0.13 0.16
Tyratech Inc 10204.00 4350.00 0.11 0.07
Audioboom plc 1163.00 250.00 0.01 0.00
Be Heard Group plc 18186.00 15000.00 0.20 0.22
EKF Diagnostics plc 10255.00 7500.00 0.11 0.11
Gateley Holdings plc 14627.00 18150.00 0.16 0.27
Yolo Leisure and Tech plc 22367.00 11250.00 0.24 0.17
EVR Holdings plc 52570.00 56525.00 0.57 0.84
401,838 411,031 4.37 6.13
New Century AIM VCT plc
For the six months to 31st August 2016
Investment Portfolio (continued)
Non Qualifying Investments
(continued)
UK Listed
Investec plc 202822.00 106250.00 2.21 1.59
Aviva plv 22268.00 21400.00 0.25 0.32
HSBC Holdings plc 21955.00 19740.00 0.24 0.30
Imperial Brands plc 23763.00 39940.00 0.26 0.60
Greene King plc 9964.00 10150.00 0.11 0.15
Waterman Group 9926.00 14350.00 0.11 0.21
Centrica plc 10074.00 6960.00 0.11 0.10
Twentyfour Inc 9852.00 9300.00 0.11 0.14
Vodafone Group plc 20590.00 21333.00 0.23 0.32
331,214 249,423 3.63 3.73
Unlisted Investments
Merchant House 25,128 5,000 0.27 0.07
Litebulb Group loan 50,253 7,500 0.55 0.11
75,381 12,500 0.82 0.18
Total Non-qualifying Investments 808,433 672,954 8.82 10.04
New Century AIM VCT plc
For the six months to 31st August 2016
Notes to the Accounts
1 This interim financial information and the unaudited interim
accounts for the six months to 31 August 2016 from
which it has been extracted, are the responsibility of the
directors and were approved by them on 26 October 2016,
do not constitute statutory accounts within the meaning
of Section 434 of the Companies Act 2006 and have
not been delivered to the Registrar of Companies.
2 The Company is an investment company as defined in Section
833 of the Companies Act 2006. The unaudited
interim accounts have been prepared in accordance with
the Financial Reporting Council's (FRC) Financial
Reporting Standard 104 Interim Financial Reporting (March
2015) and with the Statement of Recommended Practice
for Investment Companies re-issued by the Association
of Investment Companies in November 2014.
The unaudited interim accounts have been prepared using
accounting policies that the company applied in the
accounts for the year ending 28 February 2016, incorporating
FRS 102 The Financial Reporting Standard applicable
in the UK and Republic of Ireland. The company consider these
accounting policies will be used in the accounts for
the year ending 28 February 2017.
3 Listed, AIM or ISDX Markets-traded investments are stated
at market value, which is based upon market bid prices
at the balance sheet date. These would all
meet tier 1 of the fair value hierarchy.
4 8,734,374 Ordinary Shares of 10 pence each were in issue
at the end of the period under review (weighted
average 8,717,526 shares).
5 Net Asset Value per share at 31 August 2016 was 77p
(at 28 February 2016: 74p; 31 August 2015: 81p).
6 No dividend was paid in the period.
7 There have not been any significant events
since the balance sheet date.
8 New Century AIM VCT plc is managed by M D Barnard & Co.
Limited ('MDB'), a company controlled by Michael
Barnard who is a non-executive director of the company.
Under the terms of the management agreement MDB are
entitled to a fee (exclusive of VAT) equal to 1% per annum
of the net assets of the company. During the period the
management fee was GBP52k (the year ended 28 February 2016:
GBP76k, the period ended 31 August 2015: GBP39k).
9 Copies of the Interim Report to Shareholders have been sent
to shareholders and are available at the Company's
Registered Office: Tricor Secretaries Ltd, 4th
Floor, 50 Mark Lane, London EC3R 7QR.
10 Bearing in mind that the assets of the company consist mainly
of marketable securities, the directors are of the
opinion that at the time of approving this interim financial
information, the company has adequate resources to
continue in operational existence for the foreseeable future.
For this reason, they continue to adopt the going
concern basis in preparing this interim financial information.
New Century AIM VCT plc
For the six months to 31st August 2016
Directors, Investment Managers and Advisors
Directors, Investment Manager and Advisors
Directors Geoffrey Charles Gamble (Chairman)
Michael David Barnard
Peter William Riley
Ian Cameron-Mowat
Secretary Tricor Secretaries Ltd
and registered office 4thFloor, 50 Mark Lane
London EC3R 7QR
Investment Manager and Broker MD Barnard & Co Ltd
17-21 New Century Road
Laindon
Essex SS15 6AG
Registrars Neville Registrars
18 Laurel Lane
Halesowen
B63 3DA
Auditor and VCT status advisors UHY Hacker Young LLP
Quadrant House
4 Thomas More Square
London E1W 1YW
Bankers Bank of Scotland
New Uberior House
11 Earl Grey Street
Edinburgh EH3 9BN
View source version on businesswire.com: http://www.businesswire.com/news/home/20161026006112/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
October 26, 2016 09:56 ET (13:56 GMT)
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