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One Heritage Group plc: Full year results for the -10- finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
One Heritage Group plc: Full year results for the -8- finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Report of the Directors and Financial Statements for the year ended 31 December 2020 Report of the Directors Principal Activities and Business Review The principal activity of Rothschild & Co Continuation Finance CI Limited ("the Company") is the raising of finance for the purpose of lending it to other members of the Rothschild & Co Group. As mentioned above, the Company operates as a finance vehicle which issues debt and lends it onto other Rothschild & Co Group companies on substantially the same terms. The only debt currently in issue is perpetual subordinated notes. Given the nature of this debt and the related loans to group companies, the Directors consider that accrual accounting, as per prior years, best reflects the purpose of the Company as a pass through financing vehicle and to match the £125m loan asset and subordinated guaranteed notes in issue. On this basis, the loan asset and subordinated guaranteed notes would be matched on the balance sheet at £125m which reflects the real asset and liability position of the Company.
Report of the Directors and Financial Statements for the year ended 31 December 2020
Business Model and Strategic Objectives Rothschild & Co Continuation Finance PLC ("the Company") is a wholly-owned subsidiary of N M Rothschild & Sons Limited ("NMR") and was incorporated on 30 August 2000 to operate as a finance vehicle for the benefit of NMR and its subsidiaries. The principal activity of the Company is the raising of finance for the purpose of lending it to NMR and other companies in the Rothschild & Co Group ("the Group"). The only current debt securities in issue are the perpetual subordinated notes guaranteed by NMR. Business Update and Key Performance Indicators