Note

2009

£000

2008

£000
Assets
Non-current assets
Property, plant and equipment 14 28 44
Investments 15 54,954 49,369
University Challenge Seed Fund (UCSF):
- Investments 15 763 800
- Loans 15 42 758
Low Carbon Seed Fund (LCSF) 16 - 234
Total non-current assets 55,787 51,205
Current assets
Trade and other receivables 17 7,524 1,488
Short term liquidity investments 18 29,300 36,000
Cash and cash equivalents 18 1,401 7,077
Total current assets 38,225 44,565
Total assets 94,012 95,770
Equity and liabilities
Equity attributable to equity holders
Issued share capital 21 1,746 1,746
Share premium 51,748 51,748
Retained earnings 5,903 581
Share-based payments 8,097 8,097
Other reserves 22 18,096 18,096
Total equity 85,590 80,268
Liabilities
Non-current liabilities
University Challenge Seed Fund (UCSF) 20 805 1,590
Provisions for liabilities and charges 4 4,883 10,863
Low Carbon Seed Fund (LCSF) 16 - 234
Total non-current liabilities 5,688 12,687
Current liabilities
Trade and other payables 19 2,734 2,815
Total liabilities 8,422 15,502
Total equity and liabilities 94,012 95,770

The Financial Statements were approved by the Board of Directors on 6 October 2009 and were signed on its behalf by J. Smith and S. Searle.

J. Smith
Chief Financial and Operations Officer

6 October 2009

S. Searle
Chief Executive Officer

6 October 2009