Schroder UK Real Estate Fund Feeder Trust Interim Unaudited Financial Statements

Transcription

1 Schroder UK Real Estate Interim_ Schroder UK Real Estate Interim 15/12/ :35 Page a Schroder UK Real Estate Fund Feeder Trust Interim Unaudited Financial Statements 30 September 2017 For professional investors and advisers only

2 Schroder UK Real Estate Interim_ Schroder UK Real Estate Interim 15/12/ :35 Page b

3 Contents Governance Report of the Authorised Fund Manager and Statement of Responsibilities* 2 Financial Statements Statement of Total Return 3 Statement of change in net assets attributable to shareholders 3 Balance Sheet 4 Cashflow 4 Accounting policies 5 Reports & Accounts 6 Manager Contacts 6 Key Service Providers Inside back cover *Collectively these comprise the Authorised Fund Manager s Report Interim Unaudited Financial Statements for the period ended 30 September

4 Governance Report of the Authorised Fund Manager and Statement of Responsibilities The Financial Statements We are pleased to present the interim Unaudited Financial Statements of the Schroder UK Real Estate Fund Feeder Trust ( the Trust ) for the year ended 30 September Statement of the Authorised Fund Manager s Responsibilities The Collective Investment Schemes Sourcebook of the FCA (Financial Conduct Authority) requires the Authorised Fund Manager to prepare financial statements for each accounting period which give a true and fair view of the financial position of the Trust at the period end and of the net income and net gains or losses on the scheme property of the Trust for the period then ended. In preparing the financial statements the Manager is required to: follow applicable accounting standards; make judgements and estimates that are reasonable and prudent; select suitable accounting policies and then apply them consistently; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation for the foreseeable future; and comply with the disclosure requirements of the Statement of Recommended Practice for Authorised Funds issued by the IMA (Investment Management Association) in May The Manager is required to keep proper accounting records and to manage the Trust in accordance with the Regulations and the Instrument of Incorporation. The Manager is responsible for taking reasonable steps for the prevention and detection of fraud and other irregularities. We hereby approve the Unaudited Financial Statements of the Schroder UK Real Estate Fund Feeder Trust for the period to 30 September 2017 in accordance with the requirements of the Collective Investment Schemes Sourcebook of the FCA. J. A. Walker-Hazell P. Chislett Schroder Unit Trusts Limited 15 December Schroder UK Real Estate Fund Feeder Trust

5 Financial Statements Statement of Total Return Period to Period to 30 September 31 March Income Net capital (losses)/gains (3,421) 4,767 Revenue 4,850 2,337 Expenses Net revenue before taxation 4,850 2,337 Taxation (753) (440) Net revenue after taxation 4,097 1,897 Total return before distribution 676 6,664 Finance costs: distribution (4,097) (1,897) Change in net assets attributable to shareholders from investment activities (3,421) 4,767 Statement of change in net assets attributable to shareholders Period to Period to 30 September 31 March Opening net assets attributable to shareholders 148, ,204 Amounts receivable on issue of shares 275,118 3,730 Amounts payable on cancellation of shares (2,426) (3,171) Net amounts receivable on issue of shares 272, Change in net assets attributable to shareholders from investment activities (3,421) 4,767 Closing net assets attributable to shareholders 417, ,530 Interim Unaudited Financial Statements for the period ended 30 September

6 Financial Statements Balance Sheet As at As at 30 September 31 March ASSETS Investment Assets 417, ,530 Debtors 1, Cash and Cash equivalents Total other assets 1, Total Assets 419, ,287 LIABILITIES Creditors Distribution payable Total liabilities 1, Net assets attributable to shareholders 417, ,530 Number of units 9,311, ,418, Net asset value per unit Cashflow As at As at 30 September 31 March Net cash inflow from operating activities 3,636 1,873 Servicing of finance Distributions paid (3,427) (1,919) Total cash outflow from servicing of finance (3,427) (1,919) Financial investments Purchase of investments (272,692) (559) Total cash outflow from financial investments (272,692) (559) Financing Amounts received on issue of shares 272, Total cash inflow from financing 272, Increase/(decrease) in cash in the period 209 (46) Net cash at the start of the period Net cash at the end of the period Schroder UK Real Estate Fund Feeder Trust

7 Notes to the Financial Statements (unaudited) Accounting policies Basis of accounting The accounts have been prepared under the historical cost basis, as modified by the revaluation of investments, and in accordance with the Statement of Recommended Practice for Authorised Funds issued by the IMA in May The accounting policies applied are consistent with those of the annual accounts for the year ended 31 March 2017 and are described in those annual accounts. Interim Unaudited Financial Statements for the period ended 30 September

8 Unaudited General Information Reports & Accounts This document is a short report for the Schroder UK Real Estate Fund Feeder Trust for the period to 30 September Further information about the activities and performance of the Fund during this period can be found within the Quarterly Investor Reports on the Schroder UK Real Estate Fund Feeder Trust website: Manager Contacts For general information and queries on secondary market availability, please contact: Tom Dorey Product Manager tom.dorey@schroders.com +44 (0) James Lass Fund Manager james.lass@schroders.com +44 (0) Schroder UK Real Estate Fund Feeder Trust

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11 Key Service Providers Authorised Corporate Director Schroder Unit Trusts Limited 31 Gresham Street London EC2V 7QA Investment Manager Schroder Real Estate Investment Management Limited 31 Gresham Street London EC2V 7QA Schroder Unit Trusts Limited and Schroder Real Estate Investment Management are authorised and regulated by the FCA. Registrar Northern Trust Global Services Limited 50 Bank Street Canary Wharf E14 5NT Depositary National Westminster Bank plc 135 Bishopsgate London EC2M 3UR Standing Independent Valuers BNP Paribas Real Estate Advisory & Property Management Limited 90 Chancery Lane London WC2A 1EU Legal Adviser Eversheds LLP One Wood Street London EC2V 7WS Independent Auditors PricewaterhouseCoopers LLP 7 More London Riverside London SE1 2RT Real Estate Managers Jones Lang LaSalle Austin House St Crispens Road Norwich NR3 1YF Knight Frank 55 Baker Street London W1U 8AN The terms of all appointments including remuneration and termination provisions can be made available upon request. Knight Frank LLP 55 Baker Street London W1U 8AN

12 Main Heading Schroder Investment Management Limited 31 Gresham Street, London EC2V 7QA, United Kingdom Tel: +44 (0) Schroder UK Real Estate Fund Feeder Trust