267694 EdinburghIT AR 2024 WEB - Flipbook - Page 70
68 / FINANCIAL REVIEW / THE EDINBURGH INVESTMENT TRUST PLC
NOTES TO THE FINANCIAL STATEMENTS / CONTINUED
9. INVESTMENTS HELD AT FAIR VALUE
The portfolio comprises investments which are principally listed on a regulated stock exchange or traded on AIM. A very small
proportion of investments are valued by the Directors as they are unlisted.
Gains or losses are either:
–
realised, usually arising when investments are sold; or
–
unrealised, being the difference from cost on those investments still held at the year end.
(a) Analysis of investments by listing status
Investments listed on a recognised investment exchange
2024
£’000
2023
£’000
1,206,563
1,226,649
2024
£’000
2023
£’000
1,040,163
1,048,510
(b) Analysis of investment gains:
Opening book cost
Opening investment holding gains
Opening fair value
186,486
170,215
1,226,649
1,218,725
Movements in year:
Purchases at cost
335,245
252,724
Sales - proceeds
(454,426)
(250,823)
Gains on investments in the year
99,095
6,023
1,206,563
1,226,649
Closing book cost
976,923
1,040,163
Closing investment holding gains
229,640
186,486
1,206,563
1,226,649
Closing fair value
Closing fair value
The Company received £454,426,000 (2023: £250,823,000) from investments sold in the year. The book cost of these
investments when they were purchased was £398,434,000 (2023: £261,072,000) realising a gain of £55,992,000 (2023: loss
of £10,249,000). These investments have been revalued over time and until they were sold any unrealised profits/losses were
included in the fair value of the investments.
The transaction costs included in gains on investments amount to £1,642,000 (2023: £1,162,000) on purchases and £222,000
(2023: £99,000) for sales.
10. DEBTORS
Debtors are amounts which are due to the Company, such as monies due from brokers for investments sold and income which
has been earned (accrued) but not yet received.
2024
£’000
2023
£’000
Amounts due from brokers
9,766
–
Overseas withholding tax recoverable
2,229
2,316
Income tax recoverable
Prepayments and accrued income
28
–
7,855
10,076
19,878
12,392
