For professional investors and advisers only
Schroder UK Real Estate Fund Feeder Trust
Interim Unaudited
Financial Statements
30 September 2015
1
Schroder UK Real Estate Fund Feeder Trust
Interim Unaudited Financial Statements 30 September 2015
Report of the Authorised
Fund Manager and statement
of responsibilities
The Financial Statements
We are pleased to present the interim
Unaudited Financial Statements of
Schroder UK Real Estate Fund Feeder
Trust (“the Trust”) for the period ended 30
September 2015.
Statement of the Authorised Fund
Manager’s Responsibilities
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 2015 in accordance with the
requirements of the Collective Investment
Schemes Sourcebook of the FCA.
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
J.A Walker-Hazell
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.
P. Wallace
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 October 2010.
Schroder Unit Trusts Limited
16 December 2015
Schroder UK Real Estate Fund Feeder Trust
2
Interim Unaudited Financial Statements 30 September 2015
Statement of Total Return
For the six months ended
30 September 2015
£’000
31 March 2015
£’000
Income
Net capital gains
Revenue
Expenses
4,728
1,470
2,945
1,418
–
–
Net revenue before taxation
1,470
1,418
Taxation
(255)
(260)
Net revenue after taxation
1,215
1,158
Total return before distribution
5,943
4,103
Finance costs: distributions
(1,215)
(1,158)
4,728
2,945
Change in net assets attributable to
shareholders from investment activities
Statement of Change in
Net Assets Attributable
to Unitholders
For the six months ended
30 September 2015
£’000
31 March 2015
£’000
73,166
69,022
7,651
1,615
(38)
(416)
Net amounts receivable on issue of shares
7,613
1,199
Change in net assets attributable to shareholders from
investment activities
4,728
2,945
85,507
73,166
Opening net assets attributable to shareholders
Amounts receivable on issue of shares
Amounts payable on cancellation of shares
Closing net assets attributable to shareholders
Schroder UK Real Estate Fund Feeder Trust
3
Interim Unaudited Financial Statements 30 September 2015
Balance Sheet
At
30 September 2015
£’000
31 March 2015
£’000
ASSETS
Investment Assests
85,507
73,166
Total Investment Assets
85,507
73,166
252
242
Debtors
Cash and Cash equivalents
730
477
Total other assests
982
719
86,489
73,885
771
516
Distribution payable
211
203
Total Liabilities
982
719
85,507
73,166
30 September 2015
£’000
31 March 2015
£’000
1,453
1,152
Distributions paid
(1,200)
(1,146)
Total cash outflow from servicing of finances
(1,200)
(1,146)
Purchase of investments
(7,613)
(1,199)
Total cash inflow from financial investments
(7,613)
(1,199)
Amounts received on issue of units
7,613
1,199
Total cash inflow from financing
7,613
1,199
253
6
Total Assets
LIABILITIES
Creditors
Net assets attributable to shareholders
CASHFLOW statement
For the six months ended
Net cash inflow from operating activities
Servicing of finance
Financial investments
Financing
Increase in cash for the period
Net cash at the start of the period
477
471
Net cash at the end of the period
730
477
Schroder UK Real Estate Fund Feeder Trust
Interim Unaudited Financial Statements 30 September 2015
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 October 2010.
The accounting policies applied are
consistent with those of the annual
accounts for the period ended
31 March 2015 and are described
in those annual accounts.
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5
Schroder UK Real Estate Fund Feeder Trust
Interim Unaudited Financial Statements 30 September 2015
unAudited geneRAl
infoRMAtion
Reports & Accounts
Manager Contacts
This document is a short report for
the Schroder UK Real Estate Fund
Feeder Trust for the period to 30
September 2015. 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:
http://www.schroders.com/en/uk/
schroder-uk-real-estate-fund.
For general information and queries
on secondary market availability,
please contact:
Olivia Pember
Product Manager
olivia.pember@schroders.com
+44 (0)20 7658 3552
James Lass
Fund Manager
james.lass@schroders.com
+44 (0)20 7658 3980
Schroder UK Real Estate Fund Feeder Trust
Interim Unaudited Financial Statements 30 September 2015
6
S chroder
U K
real
estate
Issued in December 2015 by Schroder Unit Trusts Limited, 31Gresham
Street, London EC2V 7QA which is authorised and regulated by the
Financial Conduct Authority. w48132
F eeder
T rust