| | | through | | | | | | |
| | | profit | | | | | | |
| | | or loss | | | | | | |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| | | GBP | | GBP | | GBP | | GBP |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| Assets as per balance sheet | | | | | | | | |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| Equity share investments | | 113,724,024 | | - | | - | | 113,724,024 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| Preference share investments | | 17,819,325 | | - | | - | | 17,819,325 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| Syndicated loans | | 33,978,849 | | - | | - | | 33,978,849 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| Collateralised debt obligations | | - | | - | | 10,382,733 | | 10,382,733 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| Collateralised loan obligations | | - | | - | | 1,837,250 | | 1,837,250 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| SME loans | | - | | - | | 3,692,578 | | 3,692,578 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| Property, plant and equipment | | 9,448 | | - | | - | | 9,448 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| Trade and other receivables | | - | | - | | 1,858,699 | | 1,858,699 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| Cash and cash equivalents | | - | | - | | 59,141,431 | | 59,141,431 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| | | 165,531,646 | | - | | 76,912,691 | | 242,444,337 |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| | | | | | | | | |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
| | | | | | | | | |
+--------------------------------------+---+--------------+--+-------------+--+-------------+--+--------------+
+--------------------------------------+---+-------------+--+-----------+--+-----------+--+----------+
| | |Liabilities | | | | | | |
| | | held at | | | | | | |
| | | amortised | | | | | | |
| | | cost | | | | | | |
+--------------------------------------+---+-------------+--+-----------+--+-----------+--+----------+
| | | GBP | | | | | | |
+--------------------------------------+---+-------------+--+-----------+--+-----------+--+----------+
| Liabilities as per balance sheet | | | | | | | | |
+--------------------------------------+---+-------------+--+-----------+--+-----------+--+----------+
| Trade and other payables | | 715,941 | | | | | | |
+--------------------------------------+---+-------------+--+-----------+--+-----------+--+----------+
| Borrowings | | 9,188,157 | | | | | | |
+--------------------------------------+---+-------------+--+-----------+--+-----------+--+----------+
| | | 9,904,098 | | | | | | |
+--------------------------------------+---+-------------+--+-----------+--+-----------+--+----------+
15 Trade and other receivables
+--------------------------------------+---+------------+--+------------+--+------------+--+------------+
| | | Group | | Group | | Company | | Company |
+--------------------------------------+---+------------+--+------------+--+------------+--+------------+
| | | 2008 | | 2007 | | 2008 | | 2007 |
+--------------------------------------+---+------------+--+------------+--+------------+--+------------+
| | | GBP | | GBP | | GBP | | GBP |
+--------------------------------------+---+------------+--+------------+--+------------+--+------------+
| Trade receivables | | 4,076,139 | | 1,645,603 | | 3,068,101 | | 1,639,662 |
+--------------------------------------+---+------------+--+------------+--+------------+--+------------+
| Amounts owed from subsidiary | | - | | - | | 605,454 | | - |
| undertakings (note 22) | | | | | | | | |
+--------------------------------------+---+------------+--+------------+--+------------+--+------------+
| Other receivables | | 955,276 | | 100,000 | | 790,042 | | 100,000 |
+--------------------------------------+---+------------+--+------------+--+------------+--+------------+
| Prepayments | | 74,019 | | 119,037 | | 16,501 | | 119,037 |
+--------------------------------------+---+------------+--+------------+--+------------+--+------------+
| | | 5,105,434 | | 1,864,640 | | 4,480,098 | | 1,858,699 |
+--------------------------------------+---+------------+--+------------+--+------------+--+------------+
Trade receivables include interest receivable on interest bearing assets. The
maximum exposure to credit risk at the reporting date is the fair value of each
class of receivable mentioned above. The Group does not hold any collateral as
security.
At 31 December 2008 trade and other receivables that were past due but not
impaired are detailed below, including ageing analysis. These relate to
customers with no default history.
+--------------------------------------+----------+----------+----------+-----------+----------+-----------+----------+----------+
| | | Group | | Group | | Company | | Company |
+--------------------------------------+----------+----------+----------+-----------+----------+-----------+----------+----------+
| | | 2008 | | 2007 | | 2008 | | 2007 |
+--------------------------------------+----------+----------+----------+-----------+----------+-----------+----------+----------+
| | | GBP | | GBP | | GBP | | GBP |
+--------------------------------------+----------+----------+----------+-----------+----------+-----------+----------+----------+
| 3-6 months | | 886,905 | | 100,000 | | 886,905 | | 100,000 |
+--------------------------------------+----------+----------+----------+-----------+----------+-----------+----------+----------+
At 31 December 2008 trade receivables of GBP537,119 (2007: GBPnil) were past due
and impaired. The amount of the provision as at 31 December was GBP134,000
(2007: GBPnil). The ageing of these receivables is as follows:
+--------------------------------------+----------+----------+----------+-----------+----------+-----------+----------+----------+
| | | Group | | Group | | Company | | Company |
+--------------------------------------+----------+----------+----------+-----------+----------+-----------+----------+----------+
| | | 2008 | | 2007 | | 2008 | | 2007 |
+--------------------------------------+----------+----------+----------+-----------+----------+-----------+----------+----------+
| | | GBP | | GBP | | GBP | | GBP |
+--------------------------------------+----------+----------+----------+-----------+----------+-----------+----------+----------+
| 6-12 months | | 537,119 | | - | | 537,119 | | - | |