Final Results -17-

the Group will be unable to collect all of the amounts due under the terms 
receivable, the amount of such provision being the difference between the net 
carrying amount and the present value of the future expected cash flows 
associated with the impaired receivable. 
 
 
 
 
12 Available-for-sale investments 
 
 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
|                                 |  |          Group |  |    Group |  |       Company |  | Company | 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
|                                 |  |           2008 |  |     2007 |  |          2008 |  |    2007 | 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
|                                 |  |            GBP |  |      GBP |  |           GBP |  |     GBP | 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
|                                 |  |                |  |          |  |               |  |         | 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
| Transfer from loans and         |  |    47,416,660  |  |       -  |  |    6,500,107  |  |      -  | 
| receivables                     |  |                |  |          |  |               |  |         | 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
| Additions                       |  |     1,520,190  |  |       -  |  |            -  |  |      -  | 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
| Interest income accrued         |  |        38,644  |  |       -  |  |            -  |  |      -  | 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
| Impairment of                   |  |   (24,389,600) |  |       -  |  |   (3,334,133) |  |      -  | 
| Available-for-sale investments  |  |                |  |          |  |               |  |         | 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
| Closing balance                 |  |    24,585,894  |  |       -  |  |    3,165,974  |  |      -  | 
+---------------------------------+--+----------------+--+----------+--+---------------+--+---------+ 
 
 
Following the EGM on 17 July 2008, the Company announced that it would seek to 
dispose of its assets and distribute proceeds to its shareholders by way of 
distributions. Accordingly assets previously disclosed as Loans and receivables 
have been reclassified to Available-for-sale investments. 
 
 
Available-for-sale investments are carried at fair value which is determined by 
using indicative prices. 
 
 
Where the valuation of an asset was based on an average of indicative prices, if 
the lowest price had been used then the value of the Group's Available-for-sale 
investments at 31 December 2008 would have been GBP2.17million lower (GBP2.17 
million greater if highest price used). 
 
 
Where the valuation of an asset was based on an average of indicative prices, if 
the lowest price had been used then the value of the Company's 
Available-for-sale investments at 31 December 2008 would have been GBP0.54 
million lower (GBP0.54 million greater if highest price used). 
 
 
 
 
 
13 Property, plant and equipment 
 
 
+--------------------------------------+----------+----------+----------+-----------+ 
|                                      |          |    Group |          |   Company | 
+--------------------------------------+----------+----------+----------+-----------+ 
|                                      |          |      GBP |          |       GBP | 
+--------------------------------------+----------+----------+----------+-----------+ 
| Cost                                 |          |          |          |           | 
+--------------------------------------+----------+----------+----------+-----------+ 
| Brought forward at 1January 2008     |          |  50,335  |          |   26,790  | 
+--------------------------------------+----------+----------+----------+-----------+ 
| Disposals                            |          | (50,335) |          |  (26,790) | 
+--------------------------------------+----------+----------+----------+-----------+ 
| Carried forward as at 31 December    |          |       -  |          |        -  | 
| 2008                                 |          |          |          |           | 
+--------------------------------------+----------+----------+----------+-----------+ 
|                                      |          |          |          |           | 
+--------------------------------------+----------+----------+----------+-----------+ 
| Depreciation                         |          |          |          |           | 
+--------------------------------------+----------+----------+----------+-----------+ 
| Brought forward at 1January 2008     |          |  23,102  |          |   17,342  | 
+--------------------------------------+----------+----------+----------+-----------+ 
| Disposals                            |          | (23,102) |          |  (17,342) | 
+--------------------------------------+----------+----------+----------+-----------+ 
| Carried forward as at 31 December    |          |       -  |          |        -  | 
| 2008                                 |          |          |          |           | 
+--------------------------------------+----------+----------+----------+-----------+ 
|                                      |          |          |          |           | 
+--------------------------------------+----------+----------+----------+-----------+ 
| Net book value as at 31 December     |          |       -  |          |        -  | 
| 2008                                 |          |          |          |           | 
+--------------------------------------+----------+----------+----------+-----------+ 
 
+--------------------------------------+---+----------+--+-----------+ 
| Cost                                 |   |          |  |           | 
+--------------------------------------+---+----------+--+-----------+ 
| Brought forward at 1January 2007     |   |  33,309  |  |   17,728  | 
+--------------------------------------+---+----------+--+-----------+ 
| Additions                            |   |  17,026  |  |    9,062  | 
+--------------------------------------+---+----------+--+-----------+ 
| Carried forward as at 31 December    |   |  50,335  |  |   26,790  | 
| 2007                                 |   |          |  |           | 
+--------------------------------------+---+----------+--+-----------+ 
|                                      |   |          |  |           | 
+--------------------------------------+---+----------+--+-----------+ 
| Depreciation                         |   |          |  |           | 
+--------------------------------------+---+----------+--+-----------+ 
| Brought forward at 1January 2007     |   |   8,522  |  |    6,397  | 
+--------------------------------------+---+----------+--+-----------+ 
| Charge for period                    |   |  14,580  |  |   10,945  | 
+--------------------------------------+---+----------+--+-----------+ 
| Carried forward as at 31 December    |   |  23,102  |  |   17,342  | 
| 2007                                 |   |          |  |           | 
+--------------------------------------+---+----------+--+-----------+ 
|                                      |   |          |  |           | 
+--------------------------------------+---+----------+--+-----------+ 
| Net book value as at 31 December     |   |  27,233  |  |    9,448  | 
| 2007                                 |   |          |  |           | 
+--------------------------------------+---+----------+--+-----------+ 
 
 
The Group's property, plant and equipment was written down to GBPnil during the 
year ended 31 December 2008. 
 
 
14 Financial instruments by category 
 
 
The accounting policies for financial instruments have been applied to line 
items as follows: 
 
 
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+ 
| Group                                |   |              |  |             |  |             |  |              | 
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+ 
| 2008                                 |   |    Assets    |  |  Available  |  |  Loans and  |  |    Total     | 
|                                      |   |   at fair    |  |  for sale   |  |receivables  |  |              | 
|                                      |   |    value     |  |   assets    |  |             |  |              | 
|                                      |   |   through    |  |             |  |             |  |              | 
|                                      |   |    profit    |  |             |  |             |  |              | 
|                                      |   |   or loss    |  |             |  |             |  |              | 
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+ 
|                                      |   |     GBP      |  |    GBP      |  |    GBP      |  |     GBP      | 
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+ 
| Assets as per balance sheet          |   |              |  |             |  |             |  |              | 
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+ 
| Equity share investments             |   |  30,846,948  |  |          -  |  |          -  |  |  30,846,948  | 
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+ 
| Preference share investments         |   |  28,187,503  |  |          -  |  |          -  |  |  28,187,503  |