New Cent. Aim Vct 2 New Century AIM VCT2 plc Unaudited Interim Report For the period to 30 September 2007 New Century AIM VCT2 plc Chairman's Statement I would like to welcome our shareholders to this, our second VCT, and to thank
you for your support.
After set up expenses of only £64,418, your fund raised £5.681 million in March
this year, giving an initial net asset value of 98.9 pence per share.
As at 30th September 2007, the net asset value, based on the bid value of the
investments, had risen marginally to 99 pence per share.
Good progress has been made in building up qualifying holdings and as at 26th
October 2007, they had risen to 52.2% of total investments.
I would like to pay thanks to our investment team who have worked hard to
achieve these results.
John Brice Chairman New Century AIM VCT2 plc For the period ended 30 September 2007 Unaudited Income Statement (incorporating the revenue account) Period ended 30 September 2007
Revenue Capital Total
£000 £000 £000
---------------------------------------------- --------- ---------- --------------
Gain on
investments
Realised 0 13 13
Unrealised 0 15 15
Income 62 0 62
Investment management fees -9 -26 -35
Other expenses -30 0 -30
---------------------------- --------- ---------- --------------
Return on ordinary activities 23 2 25
Tax on ordinary activities -5 0 -5
---------------------------------------------- --------- ---------- --------------
Return on ordinary activities
after taxation 18 2 20
---------------------------- --------- ---------- --------------
Return per ordinary share in pence 0.33 0.03 0.36
---------------------------------------------- --------- ---------- --------------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.
There were 5,745,530 ordinary shares in issue throughout the period.
New Century AIM VCT2 plc For the period ended 30 September 2007 Unaudited Balance Sheet As at 30 September
2007
£000 £000
-------- -----------
Fixed Assets
Investments 5,728
Current
Liabilities
Creditors 22
Cash due to broker 4 -26
-------- -----------
5,702
===========Capital and Reserves Share Capital 574
Share Premium 5,107
Capital reserve-realised 1
Capital reserve-unrealised 1
Revenue reserve 19 -----------
5,702
===========Asset Value per share 99p New Century AIM VCT2 plc For the period ended 30 September 2007 Unaudited Cash Flow Statement Period ended 30/09/2007
£000 £000Net cash outflow from operating activity -44 Returns on investments
Interest received 61
Investment income 1
===========
62Taxation -4 Dividend paid 0 Financial investment
Sale of investments -330
Purchase of investments 6,029
===========
-5,699
-------------
Net cash outflow before financing -5,685Financed By:
Net Proceeds of Share Issue 5,681 ===========
5,681 -------------
Decrease in cash held -4
=============New Century AIM VCT2 plc Notes to the Unaudited Interim Report 1.This interim financial information for the period ended 30 September 2007
which is the responsibility of the directors and was approved by them on 26
November 2007, does not constitute statutory accounts within the meaning of
Section 240 of the Companies Act 1985 and has not been delivered to the
Registrar of Companies.
2.The Company is an investment company as defined in Section 266 of the
Companies Act 1985. The financial statements have been prepared under the
historical cost convention, modified to include the revaluation of fixed asset
investments, and in accordance with applicable accounting standards in the UK
and with the Statement of Recommended Practice "Financial statements and
investment trust companies" issued in January 2003 and revised in December 2005.
3.The company was admitted to the London Stock Exchange on 3 April 2007.
4.Listed or AIM-traded investments are stated at market value, which is based
upon market bid prices at the balance sheet date.
5.During the period under review, the Company issued 5,745,530 new Ordinary
Shares of 10 pence each.
5.Net Asset Value per share at 30 September 2007 was 99p.
6.No dividend was paid during the period.
7.Copies of the Interim Report to Shareholders have been sent to shareholders
and are available at the Company's Registered Office: 17/21 New Century Road,
Laindon SS15 6AG or from Woodside Corporate Services, 4th Floor, 150-152
Fenchurch Street, London EC2M 6BB.
New Century AIM VCT2 plc Investment Portfolio Summary Security Cost Valuation %
£ 30/09/2007
--------------------------------- ------------ ------------ ------------Qualifying Investments 3,135,267 3,205,535 56.01
Non qualifying Investments 2,577,122 2,522,350 44.07
Uninvested funds -4,369 -4,369 -0.08
------------ ------------ ------------
5,708,021 5,723,516 100.00
============ ============ ============Qualifying Investments
AIM Listed
Bglobal plc 170,850 149,600 2.61
Coolabi plc 126,630 126,000 2.20
Maelor 301,500 382,500 6.68
Western & Oriental plc 30,150 37,500 0.66
Sirvis IT plc 64,804 107,468 1.88
EBTM plc 405,770 382,500 6.68
Essentially Group plc 145,726 140,323 2.45
Media Surface plc 83,415 66,761 1.17
Cantono plc 301,500 216,000 3.77
HML Holdings plc 271,350 280,000 4.89
Clerkenwell Ventures 100,500 106,666 1.86
Sports Media Group plc 125,625 114,167 1.99
Southern Bear 301,500 281,250 4.91
Kurawood plc 150,750 150,000 2.62
------------ ------------ ------------
2,580,070 2,540,735 44.39
------------ ------------ ------------
Plus Markets listed
St Helens Capital plc 151,504 240,000 4.19
General Medical Clinics plc 37,371 36,000 0.63
CKS Group plc 366,323 388,800 6.79
------------ ------------ ------------
555,197 664,800 11.62
------------ ------------ ------------Total Qualifying Investments 3,135,267 3,205,535 56.01 New Century AIM VCT2 plc Investment Portfolio Summary Security Cost Valuation %
£ 30/09/2007
--------------------------------- ------------ ------------ ------------Non Qualifying Investments
Fully listed
EAGA plc 18,191 19,800 0.35
HBOS plc 360,275 335,000 5.85
Norcros plc 31,356 30,400 0.53
Superglass Hldgs plc 45,225 55,500 0.97
Investec Perpetual 477,227 415,000 7.25
PV Crystalox Solar plc 28,092 30,250 0.53
------------ ------------ ------------
960,365 885,950 15.48
------------ ------------ ------------
AIM listed
K3 Business Technology 34,972 46,250 0.81
NetDimensions Ltd 31,155 28,000 0.49
Ashley House plc 39,644 36,250 0.63
Microemissive Displays 36,470 42,400 0.74
London Asia Capital 20,504 11,500 0.20
Private & Commercial 17,688 16,400 0.29
DCD Media 60,300 51,000 0.89
Neutrahealth plc 30,459 30,000 0.52
------------ ------------ ------------
271,192 261,800 4.57
------------ ------------ ------------
Plus Markets listed
Pannal plc 15,530 15,000 0.26UK Government Loans
Treasury 21/2% 2009 515,662 523,800 9.15
Treasury 21/2% 2011 814,374 835,800 14.60
------------ ------------ ------------
1,330,036 1,359,600 23.75
------------ ------------ ------------Total Non Qualifying Investments 2,577,122 2,522,350 44.07 New Century AIM VCT2 plc Directors, Investment Manager and Advisors Directors John Roger Simpson Brice (Chairman)
Michael David Barnard
Geoffrey Charles Gamble
Robin William Kirby
Peter William RileySecretary Woodside Secretaries Ltd
and registered office 4th Floor, 150-152 Fenchurch Street
London EC2M 6BBInvestment Manager and Broker MD Barnard & Co Ltd
17-21 New Century Road
Laindon
Essex SS15 6AGSolicitors Dundas & Wilson LLP
5th Floor Northwest Wing
Bush House
London WC2B 4EZRegistrars Neville Registrars
18 Laurel Lane
Halesowen
B63 3DAAuditors and VCT status advisors UHY Hacker Young LLP
St Alphage House
2 Fore Street
London EC2Y 5DHBankers Bank of Scotland
New Uberior House
11 Earl Grey Street
Edinburgh EH3 9BN
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