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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 2018
Chairman's Statement
In the six months to 31st August 2018, the net asset value (NAV) of your fund declined by 1.14% to 87p. The FTSE AIM Allshare index gained 6.36% over the same period. Your fund can only invest primarily in VCT qualifying stocks which does limit the sectors we can buy into.
The fund went ex dividend to the amount of 3.4p per share in August which falls within the accounting period under review. If we add that back to the NAV, the fund increased by 2.73%. The Board realises the importance of income to its shareholders as well as trying to achieve an increase in its NAV, and based on a current mid market price of 73p for its shares, the fund has a dividend yield of 4.66%.
We made eight further qualifying investments in the period, Access Intelligence, Audioboom, Forbidden Technologies, Immotion, I-Nexus Global, Microsaic Systems, Polarean and Scancell.
We top sliced or exited seven qualifying investments and one non-qualifying.
The AIM Market has experienced heightened volatility recently where we have seen not only the AIM Market experiencing large falls but also the FTSE 100 index and FTSE 250 index. As your fund is invested primarily in AIM companies, we are exposed to this , however the fund is invested in a wide variety of businesses from different industry sectors, many of which continue to trade well which gives us cautious optimism in our ability to smooth out the peaks and troughs of the short term.
Geoff Gamble
29 October 2018
New Century AIM VCT plc For the six months to 31st August 2018
Unaudited Balance Sheet
Hot Features
Premium
Interim Accounts Final Accounts Interim Accounts
as at 31 August 2018 as at 28 February 2018* as at 31 August 2017
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Fixed
Assets
Investments 6,744 6,888 6,915
Current
Assets
Uninvested cash 142 75 279
142 75 279
Current
Liabilities
Creditors: amounts due
within one year (17) (28) (18)
6,869 6,935 7,176
Capital and
Reserves
Share capital 786 786 786
Share premium 682 682 682
Capital reserve - realised 228 469 540
Capital reserve -unrealised 3,946 3,788 3,714
Capital redemption reserve 400 400 400
Revenue reserve 827 810 1,054
6,869 6,935 7,176
Asset Value 87p 88p 91p
per share
*Audited accounts
New Century AIM VCT plc For the six months to 31st August 2018
Unaudited Statement of Comprehensive Income(incorporating the revenue account)
6 month period ended 31 August2018 Year to 28 February 2018* 6 month period ended 31 August2017
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 (losses) on investments
Realised - 38 38 - 141 141 - 117 117
Unrealised - (95) (95) - 446 446 - 440 440
Income 57 - 57 97 - 97 51 - 51
Investment management fees (9) (26) (35) (18) (54) (72) (9) (27) (36)
Other expenses (31) - (31) (51) - (51) (29) - (29)
Return on ordinary activities 17 (83) (66) 28 533 561 13 530 543
Tax on ordinary activities - - - - - - - - -
Return on ordinary activities
after taxation 17 (83) (66) 28 533 561 13 530 543
Return per ordinary share in pence 0.22 (1.06) (0.84) 0.35 6.78 7.14 0.16 6.74 6.90
*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 7,860,937
New Century AIM VCT plc For the six months to 31st August 2018
Unaudited Consolidated Statement of Changes in Equity
Share Share Capital Capital Capital Revenue Total GBP'000
Capital Premium Redemption realised unrealised reserve
account account Reserve GBP'000 GBP'000 GBP'000
GBP'000 GBP'000 GBP'000
As at 1 786 682 400 469 3,788 810 6,935
March
2018
Realised - - - 38 - - 38
gains
on disposals
Unrealised - - - - (95) - (95)
gains
Transfer of - - - (253) 253 - -
unrealised
loss
to realised
on disposal
of
investments
Net revenue - - - - - 17 17
before tax
Investment - - - (26) (26) - - (26)
management - -
fee
________ ________ _________ ________ ________ ________ ________
At 31 August 786 682 400 228 3,946 827 6,869
2018
As at 1 786 682 400 356 3,368 1,041 6,633
March
2017
Realised - - - 117 - - 117
gains
on disposals
Unrealised - - - - 440 - 440
gains
Transfer of - - - 94 (94) - -
unrealised
loss
to realised
on disposal
of
investment
Net revenue - - - - - 13 13
before tax
Investment - - - (27) - - (27)
management
fee
________ ________ _________ ________ ________ _________ ________
At 31 August 786 682 400 540 3,714 1,054 7,176
2017
New Century AIM VCT plc For the six months to 31st August 2018
Unaudited Cash Flow Statement
6 month period ended31 August 2018 Year to 28 February2018* 6 month period ended31 August 2017
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Net cash generated from (76) (125) (77)
operating activities
Cash flows from investing
activities
Investment income 57 97 51
Net cash from investing 57 97 51
activities
Cash flows from investing
activities
Sale of investments 549 551 446
Purchase of investments (463) (282) (234)
Dividends paid - (259) -
Net cash generated from 86 10 212
financing activities
Net increase / (decrease) in 67 (18) 186
cash and cash equivalents
Cash and cash equivalents 75 93 93
at beginning of period
Cash and cash equivalents 142 75 279
at end of period
*Audited Accounts
New Century AIM VCT plc For the six months to 31st August 2018
Investment Portfolio
Security Cost Valuation % %
31 August2018 Cost Valuation
Qualifying Investments 6,348,811 6,303,127 89.55 91.53
Non-qualifying Investments 599,378 441,363 8.45 6.41
6,948,189 6,744,490 98.00 97.94
Uninvested funds 141,660 141,660 2.00 2.06
7,089,849 6,886,150 100.00 100.00
Qualifying Investments
AIM Quoted
Tristel plc 96,568 692,720 1.36 10.06
PHSC plc 182,910 31,500 2.58 0.46
DCD Media plc 562,800 4,012 7.94 0.06
K3 Business Technology 90,360 241,758 1.27 3.51
Group plc
Touchstar plc 281,400 55,000 3.97 0.80
Lighthouse Group plc 128,891 285,000 1.82 4.14
Vianet Group plc 40,175 37,700 0.57 0.55
HML Holdings plc 280,672 336,600 3.96 4.89
Cyanconnode Holdings plc 376,755 52,047 5.31 0.75
Marechale Capital plc 133,828 18,550 1.89 0.27
M.Winkworth plc 64,320 88,000 0.91 1.28
Bango plc 7,563 29,750 0.11 0.43
IDE Group Holdings plc 52,763 3,062 0.74 0.04
Tax Systems plc 250,020 1,514 3.53 0.02
TP Group plc 109,278 47,114 1.54 0.68
Brady plc 41,805 46,530 0.59 0.67
Inspired Energy plc 51,370 338,000 0.72 4.91
Microsaic Systems plc 164,417 50,818 2.32 0.74
Venn Life Sciences plc 115,581 28,310 1.63 0.41
DP Poland plc 20,113 33,350 0.28 0.48
Modern Water plc 75,382 31,091 1.06 0.45
Quixant plc 11,559 116,250 0.16 1.69
Maistro plc 4,991 156 0.07 0.00
Keywords Studios plc 12,363 199,200 0.17 2.89
Cloudbuy plc 58,483 4,582 0.82 0.07
EU Supply plc 15,333 6,750 0.22 0.10
Plastics Capital plc 30,153 34,200 0.42 0.50
Sysgroup plc 99,177 67,425 1.40 0.98
Brighton Pier Group plc 50,253 31,250 0.71 0.45
Property Franchise 100,503 135,000 1.42 1.96
Group plc
Solid State plc 40,134 50,490 0.57 0.73
Audioboom Group plc 178,406 182,160 2.52 2.64
Scholium Group plc 50,253 23,000 0.71 0.33
Rosslyn Data plc 27,037 5,217 0.38 0.07
New Century AIM VCT plc For the six months to 31st August 2018
Investment Portfolio (continued)
AIM Quoted (continued)
Coral Products plc 118,095 91,667 1.67 1.33
SRT Marine Systems plc 27,139 39,000 0.38 0.57
ULS Technology plc 52,261 163,800 0.74 2.38
Collagen Solutions plc 20,757 12,390 0.29 0.18
Gfinity plc 43,925 27,500 0.62 0.40
Ideagen plc 28,430 126,453 0.40 1.84
Premier Technical Services 99,607 352,599 1.40 5.12
Group plc
Angle plc 125,880 89,602 1.78 1.30
Bilby plc 156,673 290,270 2.21 4.22
Hunters Property plc 251,256 240,000 3.54 3.49
Bigblu Broadband plc 239,452 381,199 3.38 5.54
Tekcapital plc 157,671 73,750 2.22 1.07
Falanx Group Ltd 51,460 13,166 0.72 0.19
Gear4Music Holdings lc 27,121 119,590 0.38 1.74
Premaitha Health plc 69,349 34,500 0.98 0.50
Belvoir Lettings plc 23,320 20,200 0.33 0.29
Photonstar LED group plc 35,179 2,800 0.50 0.04
Yu Group plc 27,893 147,750 0.39 2.15
Maxcyte Inc 25,128 83,928 0.35 1.22
Scancell Holdings plc 130,618 109,155 1.84 1.59
Medaphor Group plc 75,373 18,331 1.06 0.27
Imaginatik plc 40,207 11,200 0.57 0.16
Faron Pharmaceuticals Ltd 30,153 12,960 0.43 0.19
Cloudcall Group plc 20,230 43,050 0.29 0.63
Creo Medical Group plc 37,691 82,894 0.53 1.20
Anglo African Oil & Gas plc 45,229 25,875 0.64 0.38
Escape Hunt plc 31,006 24,678 0.44 0.36
Location Sciences Group plc 27,410 18,180 0.39 0.26
Fusion Antibodies plc 22,114 20,123 0.31 0.29
Pelatro plc 25,128 31,200 0.35 0.45
Polarean Imaaging plc 30,154 30,000 0.43 0.44
Access Intelligence plc 10,053 12,500 0.14 0.18
Forbidden Technologies plc 100,504 112,000 1.42 1.63
I-Nexus Global plc 70,353 62,911 0.99 0.91
Immotion Group plc 50,253 65,000 0.71 0.94
6,132,688 6,298,327 86.49 91.46
Unlisted Investments
Syqic plc 19,943 4,960 0.28 0.07
Outsourcery plc 45,027 0 0.64 0.00
Invocas plc 100,400 0 1.42 0.00
Optare plc 50,753 0 0.72 0.00
216,123 4,800 3.06 0.07
Total Qualifying Investments 6,348,811 6,303,127 89.55 91.53
New Century AIM VCT plc For the six months to 31st August 2018
Investment Portfolio (continued)
Non Qualifying Investments
AIM Quoted
Sanderson Group plc 37,008 88,000 0.52 1.28
Rotala plc 60,796 87,450 0.86 1.27
Tristel plc 60 280 0.00 0.01
K3 Business Technology Group plc 131 242 0.00 0.00
Bango plc 291 340 0.00 0.00
Coretx Holdings plc 218 4 0.00 0.00
Brady plc 106 66 0.00 0.00
Cyanconnode Holdings plc 131 9 0.00 0.00
Driver Group plc 8,992 7,900 0.13 0.12
TLA Worldwide plc 29,118 17,973 0.41 0.26
Audioboom Group plc 1,163 253 0.02 0.00
Be Heard Group plc 18,186 5,000 0.26 0.07
Gateley Holdings plc 14,627 24,000 0.21 0.35
Yolo Leisure and Tech plc 22,367 8,125 0.32 0.12
193,194 239,642 2.73 3.48
Non Qualifying Investments (continued)
UK Listed
Investec plc 202,822 114,750 2.86 1.67
Aviva plc 22,268 24,250 0.31 0.35
Imperial Brands plc 23,763 27,440 0.34 0.40
Greene King plc 9,964 6,087 0.14 0.09
Centrica plc 10,074 4,290 0.14 0.06
Twentyfour Income Fund Ltd 9,852 9,600 0.15 0.14
Vodafone Group plc 20,590 15,304 0.29 0.22
299,333 201,721 4.23 2.93
Unlisted Investments
China Food Co plc 65,969 0 0.93 0.00
Gable Holdings Inc 12,112 0 0.16 0.00
Sorbic International plc 18,717 0 0.26 0.00
Mar City plc 10,053 0 0.14 0.00
106,851 0 1.49 0.00
Total Non-qualifying Investments 599,378 441,363 8.45 6.41
New Century AIM VCT plc For the six months to 31st August 2018
Notes to the Accounts
This interim financial information and the unaudited interim accounts for the six months to 31 August 2018 from which it has been extracted, are the responsibility of the directors and were approved by them on 29 October 2018, 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. 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 and updated in January 2017. The unaudited interim accounts have been prepared using accounting policies that the company applied in the accounts for the year ending 28 February 2018, 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 2019. Listed, AIM or NEX 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. 7,860,937 Ordinary Shares of 10 pence each were in issue at the end of the period under review (weighted average 7,860,937 shares). Net Asset Value per share at 31 August 2018 was 87p (at 28 February 2018: 88p; 31 August 2017: 91p). No dividend was paid in the period. There have not been any significant events since the balance sheet date.
New Century AIM VCT plc is managed by M D Barnard & Co. Limited ('MDB'). 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 GBP35k (the year ended 28 February 2018: GBP72k, the period ended 31 August 2017: GBP36k).
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.
Copies of the Interim Report to Shareholders have been sent to shareholders and are available at the Company's Registered Office: Tricor Secretaries Ltd, 4thFloor, 50 Mark Lane, London EC3R 7QR.
New Century AIM VCT plc For the six months to 31st August 2018
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
First Floor
12 Hornsby Square
Southfields Business Park
Basildon
Essex SS15 6SD
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: https://www.businesswire.com/news/home/20181029005308/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
October 29, 2018 05:43 ET (09:43 GMT)
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