Exhibit 20.3
SCHEDULE TO MONTHLY SERVICER'S REPORT
Monthly Period ended 1/31/2007
Distribution Date 2/15/2007
All amounts in Thousands of Pounds Sterling except where otherwise stated
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Total Allocated to Allocated to Investor Interest
1 Sources of funds Transferor Total Series 05-A Series 05-B
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Principal Collections 1,196,651 495,420 701,231 350,523 350,707
Finance Charge Collections 77,070 31,907 45,163 22,575 22,587
Interchange 8,941 3,702 5,239 2,619 2,620
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Total Funds Received 1,282,662 531,029 751,633 375,718 375,915
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2 Application of Principal Collections Total Series 05-A Series 05-B
Investor Percentage of Principal Collections 701,231 350,523 350,707
deduct:
Utilised Retained Principal Collections
allocable to Class C 0 0 0
allocable to Class B 0 0 0
Transferred to Series Collections Ledger 0 0 0
Shared Principal Collections 0 0 0
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Cash Available for Acquisition 701,231 350,523 350,707
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3 Application of Finance Charge Collections Total Series 05-A Series 05-B
Investor Percentage of Finance Charge Collections 50,402 25,194 25,208
deduct:
Trustee payment amount -- -- --
Loan Note Issuer Costs 25 12 12
Monthly Distribution Amounts 13,210 6,587 6,623
Servicing fee payable to RBS 1,807 903 904
Cash Management fee payable to RBS 1 1 1
Investor Default Amount 18,344 9,170 9,175
Expenses loan principal and interest -- -- --
Available Spread 17,015 8,522 8,493
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4 Payments in respect of the Securities
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Series 05-A Class A Class B Class C
USD 000s USD 000s USD 000s
Balance at 16 Jan 2007 2,175,000 175,000 150,000
Principal repayments on 15 Feb 2007 -- -- --
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Balance carried forward on 15 Feb 2007 2,175,000 175,000 150,000
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Interest due on 15 Feb 2007 9,679 802 705
Interest paid (9,679) (802) (705)
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Interest unpaid -- -- --
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Series 05-B Class A-1 Class A-2 Class A-3 Class B-3 Class C-1 Class C-3
USD 000s EUR 000s GBP 000s GBP 000s USD 000s GBP 000s
Balance at 16 Jan 2007 435,000 450,000 700,000 101,000 42,000 63,000
Principal repayments on 15 Feb 2007 -- -- -- -- -- --
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Balance carried forward on 15 Feb 2007 435,000 450,000 700,000 101,000 42,000 63,000
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Interest due on 15 Feb 2007 -- 1,388 -- -- -- --
Interest paid -- (1,388) -- -- -- --
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Interest unpaid -- -- -- -- -- --
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5 Transaction Accounts and Ledgers
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Total Series 05-A Series 05-B
Reserve Account
Required Reserve Amount -- -- --
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Balance at 16 Jan 2007 -- -- --
Transfer in/out this period -- -- --
Interest earned -- -- --
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Balance carried forward on 15 Feb 2007 -- -- --
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Spread Account
Required Spread Account Amount -- -- --
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Balance at 16 Jan 2007 -- -- --
Transfer in/out this period -- -- --
Interest earned -- -- --
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Balance carried forward on 15 Feb 2007 -- -- --
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Principal Funding Account
Balance at 16 Jan 2007 -- -- --
Transfer in/out this period -- -- --
Interest earned -- -- --
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Balance carried forward on 15 Feb 2007 -- -- --
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6 Subordination Percentages Series 05-A Series 05-B
Original Current Original Current
(pound)000 % (pound)000 % (pound)000 % (pound)000 %
Class A Investor Interest 1,257,225 87% 1,257,225 87% 1,257,568 87% 1,257,568 87%
Class B Investor Interest 101,156 7% 101,156 7% 101,000 7% 101,000 7%
Class C Investor Interest 86,705 6% 86,705 6% 87,277 6% 87,277 6%
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Total Investor Interest 1,445,087 100% 1,445,087 100% 1,445,845 100% 1,445,845 100%
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7 Assets of the Trust
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(pound)000
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Total receivables at 31-Jan-07 (pound)4,861,604
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Aggregate amount of receivables that, as at
31 Jan 2007 were delinquent by: 30-59 days 60,640
60-89 days 48,889
90-179 days 124,979
180 or more days 188,992
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8 Material Changes
New Issuance during period NONE
Material modifications to pool asset terms NONE
Material modifications to origination policies NONE
Material breaches of pool asset representations,
warranties or covenants NONE
9 Trigger Information
Series Pay Out Events NONE
Trust Pay Out Events NONE
10 Other Material Information that would be reportable on form 10-Q
Legal Proceedings NONE
Changes in Securities NONE
Submission of Matters to a Vote of Security Holders NONE
Other Information NONE
IN WITNESS WHEREOF, the undersigned has duly executed this Schedule to
the Monthly Servicer's Report as of the 15th day of February, 2007
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The Royal Bank of Scotland plc, as Servicer
Patrick Neville
Chief Financial Officer, Cards Business