Net return after taxation 193 (16,102) (2,205) Net capital return 391 18,073 3,604 (Increase)/decrease in (44) 225 45 receivables Increase/(decrease) in payables 40 (74) (65) Interest and expenses charged to (161) (420) (222) the capital reserve Net cash inflow from operating 419 1,702 1,157 activities 8 Related party transactions The Group's investments are managed by Chelverton Asset Management Limited, a company in which Mr van Heesewijk, a Director of the Company and the subsidiary, has an interest. The amounts paid to the Investment Manager in the period to 31 October 2020 were GBP208,000 (year ended 30 April 2020: GBP542,000, six months to 31 October 2019: GBP285,000). At 31 October 2020 there were amounts outstanding to be paid to the Investment Manager of GBP105,000 (year ended 30 April 2020: GBP58,000, six months to 31 October 2019: GBP83,000). Portfolio Investments as at 31 October 2020 Market % of value Security Sector GBP'000 portfolio Diversified Gas & Oil Oil & Gas 2,012 4.9 Producers Randall & Quilter Nonlife 1,453 3.5 Insurance UP Global Sourcing Household 1,406 3.4 Holdings Goods & Home Construction Belvoir Lettings Real Estate 1,388 3.4 Investment & Services Jarvis Securities Financial 1,064 2.6 Services Bloomsbury Publishing Media 1,048 2.5 Alumasc Group Construction & 950 2.3 Materials DFS Furniture General 925 2.2 Retailers Polar Capital Financial 919 2.2 Holdings Services STV Media 910 2.2 Devro Food Producers 901 2.2 Marston's Travel & 844 2.0 Leisure Tyman Construction & 801 1.9 Materials MTI Wireless Edge Electronic & 792 1.9 Electrical Equipment Chesnara Life Insurance 786 1.9 Castings Industrial 775 1.9 Engineering Flowtech Fluid Power Industrial 770 1.9 Engineering Numis Corporation Financial 742 1.8 Services Amino Technologies Technology 735 1.8 Hardware & Equipment Brewin Dolphin Financial 729 1.8 Holdings Services Strix Group Electronic & 673 1.6 Electrical Equipment Severfield Industrial 667 1.6 Engineering Clarke (T.) Construction & 664 1.6 Materials Crest Nicholson Household 659 1.6 Goods & Home Construction Close Brothers Group Banks 646 1.6 Epwin Group Construction & 640 1.5 Materials Essentra Support 616 1.5 Services Premier Miton Group Financial 594 1.4 Services Ramsdens Holdings Financial 590 1.4 Services Vertu Motors General 588 1.4 Retailers Finncap Group Financial 570 1.4 Services Brown (N) Group General 564 1.4 Retailers Regional REIT Real Estate 561 1.4 Investment Trusts DX Group Industrial 555 1.3 Transportation Personal Group Nonlife 540 1.3 Holdings Insurance Redde Northgate Support 533 1.3 Services Headlam Group Household 530 1.3 Goods & Home Construction Curtis Banks Group Financial 500 1.2 Services Photo-me Leisure Goods 490 1.2 International Contourglobal Electricity 484 1.2 Braemar Shipping Industrial 472 1.1 Services Transportation Vistry Group Household 469 1.1 Goods & Home Construction Palace Capital Real Estate 455 1.1 Investment & Services Wilmington Group Media 441 1.1 Appreciate Group Financial 378 0.9 Services Kin & Carta Support 355 0.9 Services iEnergizer Support 351 0.8 Services Orchard Funding Group Financial 346 0.8 Services Sabre Nonlife 343 0.8 Insurance Insurance Centaur Media Media 340 0.8 Town Centre Real Estate 336 0.8 Securities Investment Trusts RTC Group Support 330 0.8 Services Coral Products General 329 0.8 Industrials Babcock Support 326 0.8 International Services Portmeirion Personal Care 312 0.8 Group & Other Household Products Hansard Global Life 310 0.7 Insurance Connect Group Support 305 0.7 Services Restaurant Travel & 297 0.7 Group Leisure Bakkavor Food 292 0.7 Producers Go-Ahead Group Travel & 292 0.7 Leisure Saga General 276 0.7 Retailers Shoe Zone General 260 0.6 Retailers RPS Group Support 254 0.6 Services TheWorks.co.uk General 248 0.6 [1] Retailers McColl's Food & Drug 240 0.6 Retail Group Retailers Foxtons Group Real Estate 238 0.6 Investment & Services Hargreaves Support 200 0.5 Services Services Gattaca Support 176 0.4 Services Revolution Travel & 157 0.4 Bars Group Leisure Elementis Chemicals 149 0.4 Kier Group Construction 112 0.3 & Materials Galliford Try Construction 107 0.3 & Materials GLI Finance Financial 105 0.3 Services Titon Holdings Construction 82 0.2 & Materials Chamberlin Industrial 50 0.1 Engineering Total 41,347 100.0 Portfolio Shareholder Information Financial calendar Group's year end 30 April Quarterly dividends paid July, October, January and April Annual results announced July Annual General Meeting September Group's half year 31 October Half-Year results announced November Share prices and performance information The Company's Ordinary (SDV.L) and Zero Dividend Preference shares issued through SDVP (SDVP.L) are listed on the London Stock Exchange Main Market. The net asset values are announced daily to the London Stock Exchange and published monthly via the AIC. Information about the Group can be obtained on the Chelverton website at www.chelvertonam.com [2]. Any enquiries can also be e-mailed to cam@chelvertonam.com. Share register enquiries The register for the Ordinary shares and Zero Dividend Preference shares are maintained by Share Registrars Limited. In the event of queries regarding your holding, please contact the Registrar on 01252 821390. Changes of name and/or address must be notified in writing to the Registrar. Capital Structure Chelverton UK Dividend Trust PLC ('the Company') Chelverton UK Dividend Trust PLC was registered on 3 September 2003 with number 0374956. The Company has in issue one class of Ordinary share. In addition, it has a wholly owned subsidiary SDV 2025 ZDP PLC, which was registered on 25 October 2017 with number 11031268, through which Zero Dividend Preference shares have been issued. Ordinary shares of 25p each (SDV.L) - 20,850,000 in issue as at 31 October 2020 The Company has only one class of share and this figure represents 100% of the Company's share capital and voting rights. Dividends Holders of Ordinary shares are entitled to dividends. Capital On a winding-up of the Company, Ordinary shareholders will be entitled to all surplus assets of the Company available after payment of the Company's liabilities including the capital entitlement of the Zero Dividend Preference shares. Voting Each holder, on a show of hands, will have one vote and on a poll will have one vote for each Ordinary share held. SDV 2025 ZDP PLC ('SDVP') Ordinary shares of 100p each ( SDVP.L) - 50,000 in issue (partly paid up as to 25p each)
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