The financial position of the subsidiary is summarised as follows:
Year ended Year ended 30th June 30th June 2021 2020 GBP '000 GBP '000 Net assets brought forward 506 506 Dividend paid to parent (506) - Net assets carried forward - 506
11. OTHER RECEIVABLES
30th June 30th June 2021 2020 Group Group GBP '000 GBP '000 Prepayments and accrued income 223 133 Taxation 12 4 235 137
12. CASH AND CASH EQUIVALENTS
30th June 30th June 2021 2020 Group Group GBP '000 GBP '000 Cash at bank and on deposit 8,440 10,962
13. OTHER PAYABLES
30th June 30th June 2021 2020 Group Group GBP '000 GBP '000 Accruals 270 229 Amounts owed to subsidiary undertakings - - 270 229
14. CALLED UP SHARE CAPITAL
30th June 30th June 2021 2020 GBP '000 GBP '000 Authorised 305,000,000 (2020: 305,000,000) Ordinary shares of GBP0.01 each 3,050 3,050 Issued and fully paid 71,023,695 (2020: 71,023,695) Ordinary shares of GBP0.01 each 710 710
15. RESERVES
Share Special Retained Premium Reserve earnings account GBP '000 GBP '000 GBP '000 GROUP At 30th June 2020 21,573 56,908 34,694 Increase in investment holding gains - - 25,182 Net gains on realisation of investments - - 745 Losses on foreign currency - - (1,119) Trail rebates - - 4 Retained revenue profit for year - - 429 Dividend paid - - (994) At 30th June 2021 21,573 56,908 58,941
The components of retained earnings are set out below:
30th June 30th June 2021 2020 GBP '000 GBP '000 GROUP Capital reserve - realised 5,316 5,686 Capital reserve - revaluation 52,018 26,836 Revenue reserve 1,607 2,172 58,941 34,694
16. NET ASSET VALUE PER ORDINARY SHARE
The net asset value per Ordinary share is calculated on net assets of GBP138,132,000 (2020: GBP113,885,000) and 71,023,695 (2020: 71,023,695) Ordinary shares in issue at the year end.
17. ANALYSIS OF CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
At 1st July 2020 At 30th June 2021 Cash flow Exchange movement GBP '000 GBP '000 GROUP Cash at bank and on deposit 10,962 (1,403) (1,119) 8,440
18. FINANCIAL INFORMATION
2021 Financial information
The figures and financial information for 2021 are unaudited and do not constitute the statutory accounts for the year. The preliminary statement has been agreed with the Company's auditors and the Company is not aware of any likely modification to the auditor's report required to be included with the annual report and accounts for the year ended 30th June 2021.
2020 Financial information
The figures and financial information for 2020 are extracted from the published Annual Report and Accounts for the year ended 30th June 2020 and do not constitute the statutory accounts for the year. The Annual Report and Accounts for the year-end 30th June 2020 (available on the Company's website www.nsitplc.com) has been delivered to the registrar of Companies and includes the Independent Auditors report which was unqualified and did not contain a statement under either section 498 (2) or section 498 (3) of the Companies Act 2006.
Annual Report and Accounts
The accounts for the year ended 30th June 2021 will be sent to shareholders in October 2021 and will be available on the Company's website or in hard copy format at the Company's registered office, 1 Knightsbridge Green, London SW1X 7QA and will be available for inspection. A copy will also be submitted to the FCA's National Storage Mechanism.
The Annual General Meeting of the Company will be held on 16th November 2021 at 11.00am at 1 Knightsbridge Green, London SW1X 7QA.
23rd September 2021
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ISIN: GB0002631041 Category Code: ACS TIDM: NSI LEI Code: A00100146726 Sequence No.: 122903 EQS News ID: 1235682 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
September 24, 2021 02:00 ET (06:00 GMT)