SCHRODER BRITISH OPPORTUNITIES TRUST PLC

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have prepared financial projections covering the period to the end of July 2026. These projections included the Company's cash balances, the forecast income and expenditure flows as well as commitments to provide further funding to the Company's private equity investee companies. The Directors have assessed the principal risks and uncertainties (including whether there were any emerging risks) and the matters referred to in the viability statement. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period 31 July 2026, which is at least 12 months from when the financial statements are authorised for issue.”

Significant events

• “Alongside this report, the Board has also issued a circular to shareholders including a notice of General Meeting scheduled for 9 September 2025, detailing the Board's proposals to amend the Company's investment objective and investment policy to change its strategy such that it will invest only in private equity investments.”
• “On 17th March 2025, a statement was released regarding the proposed material change to the Company's investment policy.”
• “During the year, Jemma Bruton and I joined the Board as independent non-executive Directors and following the retirement of Neil England at the 2024 AGM, I succeeded him as Chair of the Company. Subsequent to year end, it was agreed that effective from 30 September 2025, Jemma will act as Chair to the Management Engagement Committee.”
• “Following the year end, the Board and the Investment Manager agreed on certain changes to the performance fee, designed to more closely align it with the Company's strategy. Further details regarding the agreed changes can be found on page 42.”
• “In June 2024, Mintec officially rebranded to Expana, consolidating a diverse portfolio of products and brands under one dynamic identity.”
• “Graphcore was sold during the first half of the year to SoftBank Group Corp, which led to the return of the Company's initial capital investment plus a slight profit driven by an FX gain.”
• “More recently, Rapyd received regulatory approval for the acquisition of PayU, a leading provider of best-in-class payment solutions to emerging markets operating in over 30 countries, which was signed back in August 2023 and completed on 14 March 2025.”
• “In March 2025, HeadFirst Group merged with Impellam Group, forming Headfirst Global, one of the world's largest STEM talent and managed service providers.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +44.6%

  £267,000 → £386,000

• Cash

  +1.1%

  £790,000 → £799,000

• Net assets

  +0.4%

  £81,327,000 → £81,688,000

• Employees

  —

  Not reported

• Profit before tax

  -82.1%

  £2,016,000 → £361,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers