FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
Securities Exchange Act of 1934
For the month of October 2003
HOLMES FINANCING (No 5) PLC
HOLMES FUNDING LIMITED
HOLMES TRUSTEES LIMITED
(Translation of registrant's name into English)
Abbey National House, 2 Triton Square, Regent's
Place, London NW1 3AN, England
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F ...X... Form 40-F .......
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ....... No ...X...
Holmes Financing (No. 5) PLC
Profit & Loss Account
Period ended 15 October 2003
This Quarter Prior Quarter
(pound)'000 (pound)'000
Interest receivable - Inter-company loan 16,106 16,958
Interest receivable - Cash deposits - -
------------------------------------
16,106 16,958
Interest payable - Notes (16,106) (16,958)
Interest payable
------------------------------------
(16,106) (16,958)
------------------------------------
Net operating income - 0
Other income - -
Operating expenses - -
------------------------------------
Profit on ordinary activities before taxation - 0
Taxation - -
------------------------------------
Profit on ordinary activities after taxation - 0
Dividend - -
Retained profit brought forward 1 1
------------------------------------
Retained profit carried forward 1 1
====================================
Holmes Financing (No. 5) PLC
Balance Sheet
Period ended 15 October 2003
(pound)'000 (pound)'000
Fixed asset investments
Loans to Funding 1,714,000
Current assets
Sundry debtors 1
Cash at bank 14
Cash collateral 25,079
-------------------
25,094
-------------------
Creditors: Amounts falling due within one year
Sundry creditors 1
-------------------
1
-------------------
Net current assets 25,093
------------------
Total assets less current liabilities 1,739,093
Creditors: Amounts falling due after more than one year (1,714,000)
Amounts due to noteholders
Amount due to CSFB (25,079)
------------------
Net assets 14
==================
Capital and reserves
Share capital 13
Reserves 1
------------------
14
==================
Holmes Financing (No. 5) PLC
Notes Outstanding
Period ended 15 October 2003
Series 1 Series 2 Series 3
Class A Class A1 Class A1
Moody's current rating P-1 Aaa Aaa
S&P current rating A-1+ AAA AAA
Fitch Ratings current rating F1+ AAA AAA
Series 2 Series 3
Class A2 Class A2
Moody's current rating Aaa Aaa
S&P current rating AAA AAA
Fitch Ratings current rating AAA AAA
Series 1 Series 2 Series 3
Class B Class B Class B
Moody's current rating Aa3 Aa3 Aa3
S&P current rating AA AA AA
Fitch Ratings current rating AA AA AA
Series 1 Series 2 Series 3
Class C Class C Class C
Moody's current rating Baa2 Baa2 Baa2
S&P current rating BBB BBB BBB
Fitch Ratings current rating BBB BBB BBB
Series 1 Series 2 Series 3
Class A Class A1 Class A1
$ $ (euro)
Initial note balance 1,000,000,000 750,000,000 600,000,000
Previous quarter's note
principal - 750,000,000 600,000,000
Note redemptions - - -
Outstanding note principal - 750,000,000 600,000,000
Series 2 Series 3
Class A1 Class A2
CHF (pound)
Initial note balance 400,000,000 500,000,000
Previous quarter's note
principal 400,000,000 500,000,000
Note redemptions - -
Outstanding note principal 400,000,000 500,000,000
Series 1 Series 2 Series 3
Class B Class B Class B
$ $ (euro)
Initial note balance 35,000,000 35,000,000 53,000,000
Previous quarter's note
principal - 35,000,000 53,000,000
Note redemptions - - -
Outstanding note principal - 35,000,000 53,000,000
Series 1 Series 2 Series 3
Class C Class C Class C
$ $ (euro)
Initial note balance 52,000,000 52,000,000 76,000,000
Previous quarter's note
principal - 52,000,000 76,000,000
Note redemptions - - -
Outstanding note principal - 52,000,000 76,000,000
Series 1 Series 2 Series 3
Class A Class A Class A1
Note interest margins 1 20 N/A
Step up dates 16/10/2002 16/10/2006 16/10/2006
Step up margins N/A N/A 42
Series 2 Series 3
Class A2 Class A2
Note interest margins N/A 23
Step up dates 16/10/2004 16/10/2006
Step up margins 22 46
Series 1 Series 2 Series 3
Class B Class B Class B
Note interest margins 35 43 40
Step up dates 16/10/2006 16/10/2006 16/10/2006
Step up margins 70 86 80
Series 1 Series 2 Series 3
Class C Class C Class C
Note interest margins 135 145 147
Step up dates 16/10/2006 16/10/2006 16/10/2006
Step up margins 235 245 247
Interest payment date 15th or next business day
Next interest payment date 15/01/2004
Liquidity facility limit (pound) 25,000,000
Liquidity facility drawn Nil
Liquidity facility available (pound) 25,000,000
Holmes Trustees Limited
Profit & Loss Account
Period ended 15 October 2003
This Quarter Prior Quarter
(pound)'000 (pound)'000
Interest receivable - Mortgages 297,352 279,166
Interest receivable - Cash Deposits 4,394 4,253
---------------------------------------
301,746 283,419
Interest payable - Mortgages (297,352) (279,166)
Interest payable - Cash Deposits (4,394) (4,253)
---------------------------------------
(301,746) (283,419)
---------------------------------------
Net operating income - -
Fees receivable 4,370 3,065
Fees payable (4,370) (3,065)
Operating expenses (5,417) (4,476)
Provision charges (75) (395)
Other income 5,492 4,870
--------------------------------------
Profit on ordinary activities before taxation (0) -
Taxation - -
--------------------------------------
Profit on ordinary activities after taxation (0) -
Dividend - -
Retained profit brought forward - -
--------------------------------------
Retained profit carried forward (0) -
======================================
Holmes Trustees Limited
Balance Sheet
Period ended 15 October 2003
(pound)'000 (pound)'000
Fixed asset investments
Mortgage loans secured on residential property 23,300,429
Current assets
Bank interest receivable 695
Cash at bank 266,348
Other debtors 25,377
Taxation 6
Amounts due from Funding 59,457
---------------------
351,883
---------------------
Creditors: Amounts falling due within one year
Amounts due to Seller (85,188)
Sundry creditors (347)
--------------------
(85,535)
--------------------
Net current assets 266,348
-------------------
Total assets less current liabilities 23,566,777
Creditors: Amounts falling after more than one year
Seller share of mortgage loans (9,255,734)
Funding share of mortgage loans (14,044,695)
Seller share of cash at bank (266,348)
Funding share of cash at bank -
-------------------
Net assets 0
===================
Capital and reserves
Share capital ((pound)2) 0
Reserves 0
-------------------
0
===================
Holmes Funding Limited
Profit & Loss Account
Period ended 15 October 2003
This Quarter Prior Quarter
(pound)'000 (pound)'000
Interest receivable - Mortgages less Swaps 148,399 150,966
Interest receivable - Cash Deposits 8,679 11,954
-----------------------------------
157,078 162,920
Interest payable - Inter-company loans (140,979) (158,192)
Interest payable - Start up loans (700) (715)
-----------------------------------
(141,679) (158,907)
-----------------------------------
Net operating income 15,399 4,013
Other income 5,216 4,715
Operating expenses (7,179) (6,845)
Deferred consideration (13,476) (1,860)
-----------------------------------
Profit/(loss) on ordinary activities
before taxation (40) 23
Taxation 238 (5)
-----------------------------------
Profit/(loss) on ordinary activities after
taxation 198 18
Dividend - -
Retained profit/(loss) brought forward (14,666) (14,684)
-----------------------------------
Retained profit/(loss) carried forward (14,468) (14,666)
===================================
Holmes Funding Limited
Balance Sheet
Period ended 15 October 2003
(pound)'000 (pound)'000
Fixed asset investments
Beneficial interest in Trust mortgage
portfolio 14,044,695
Beneficial interest in Trust cash at bank -
Current assets
Deferred expenditure (costs of securing) 26,704
Sundry debtors 29,303
Taxation 4,421
Cash at bank:
Reserve funding 295,622
Transaction account 1,717
Funding GIC account 1,979
-------------------
359,746
-------------------
Creditors: Amounts falling due within one year
Deferred consideration creditor 166,837
Interest payable accrual 4,415
Amounts due to Trustee 59,457
Sundry creditors 8,648
------------------
239,357
------------------
Net current assets 120,389
---------------
Total assets less current liabilities 14,165,084
Creditors: Amounts falling due after more than one year
Inter-company loans (14,110,038)
Start up loans (69,514)
---------------
Net assets (14,468)
===============
Capital and reserves
Share capital ((pound)2) -
Reserves (14,468)
---------------
(14,468)
===============
Holmes Funding Limited
Notes to Balance Sheet
Period ended 15 October 2003
(pound)'000 (pound)'000
Balance on cash accumulation ledger Nil
=================
Available credit enhancement
First Reserve Second Reserve
Reserve funds at closing 238,731 56,891
--------------------------------
Initial closing reserve funds 229,933 56,891
Drawings to make bullet repayment - -
Other drawings - -
Transfers from revenue receipts 8,798 (0)
-----------------------------------
Closing reserve balance 238,731 56,891
-----------------------------------
Target reserve funds 350,000 160,930
================================
Principal deficiency ledger AAA BBB
Opening PDL balance Nil Nil
Losses this quarter - -
PDL top up from revenue income - -
-----------------------------------
Closing PDL balance Nil Nil Nil
===================================
Start up loan outstanding
Opening balance 73,229
-----------------
Initial start up loan (incl. accrued interest) 14,792
Second start up loan (incl. accrued interest) 14,742
Third start up loan 17,500
Fourth start up loan 7,500
Fifth start up loan 5,100
Sixth start up loan 6,100
Seventh start up loan 3,780
-----------------
69,514
Accrued interest 4,415
Repayments made -
--------------------
Closing balance 73,929
====================
Liquidity facility
Liquidity facility limit 25,000
Liquidity facility drawn -
Liquidity facility available 25,000
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
HOLMES FINANCING (No 5) PLC
Dated: 5 November, 2003 By /s/ Natalie Weedon
(Authorised Signatory)