Example 20.4
SCHEDULE TO MONTHLY SERVICER'S REPORT
Monthly Period ended 2/28/2007
Distribution Date 3/15/2007
All amounts in Thousands of Pounds Sterling except where otherwise stated
Total Allocated to Allocated to Investor Interest
1 Sources of funds Transferor Total Series 05-A Series 05-B Series 07-A
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Principal Collections 960,904 367,167 593,737 290,963 291,115 11,659
Finance Charge Collections 65,139 24,890 40,249 19,724 19,734 790
Interchange 7,635 2,917 4,718 2,312 2,313 93
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Total Funds Received 1,033,678 394,975 638,704 312,999 313,163 12,542
2 Application of Principal Collections Total Series 05-A Series 05-B Series 07-A
Investor Percentage of Principal Collections 593,737 290,963 291,115 11,659
deduct:
Utilised Retained Principal Collections
allocable to Class C 0 0 0 0
allocable to Class B 0 0 0 0
Transferred to Series Collections Ledger 0 0 0 0
Shared Principal Collections 0 0 0 0
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Cash Available for Acquisition 593,737 290,963 291,115 11,659
3 Application of Finance Charge Collections Total Series 05-A Series 05-B Series 07-A
Investor Percentage of Finance Charge Collections 44,967 22,036 22,048 883
deduct:
Trustee payment amount -- -- -- --
Loan Note Issuer Costs 23 11 11 0
Monthly Distribution Amounts 12,894 6,137 6,171 586
Servicing fee payable to RBS 1,843 903 904 36
Cash Management fee payable to RBS 2 1 1 1
Investor Default Amount 16,219 7,948 7,952 318
Notional transfer between Series (see Note) -- (29) (29) 58
Available Spread 13,987 7,007 6,980 --
Note: "Notional transfer between Series" refers to the fact that amounts
that would otherwise constitute Available Spread in respect of Series
2005-A and 2005-B may be allocated, to the extent necessary, to Series
2007-A to form part of available funds for that Series.
4 Payments in respect of the Securities
Series 05-A Class A Class B Class C
USD 000s USD 000s USD 000s
Balance at 15 Feb 2007 2,175,000 175,000 150,000
Principal repayments on 15 Mar 2007 -- -- --
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Balance carried forward on 15 Mar 2007 2,175,000 175,000 150,000
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Interest due on 15 Mar 2007 9,034 749 658
Interest paid (9,034) (749) (658)
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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 15 Feb 2007 435,000 450,000 700,000 101,000 42,000 63,000
Principal repayments on 15 Mar 2007 -- -- -- -- -- --
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Balance carried forward on 15 Mar 2007 435,000 450,000 700,000 101,000 42,000 63,000
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Interest due on 15 Mar 2007 5,883 1,295 9,296 1,384 605 894
Interest paid (5,883) (1,295) (9,296) (1,384) (605) (894)
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Interest unpaid -- -- -- -- -- --
Series 07-A Class A2 Class A3
EUR 000s GBP 000s
Balance at 15 Feb 2007 51,200 24,000
Principal repayments on 15 Mar 2007 -- --
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Balance carried forward on 15 Mar 2007 51,200 24,000
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Interest due on 15 Mar 2007 409 239
Interest paid (409) (239)
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Interest unpaid -- --
5 Transaction Accounts and Ledgers
Total Series 05-A Series 05-B Series 07-A
Reserve Account
Required Reserve Amount -- -- -- --
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Balance at 15 Feb 2007 -- -- -- --
Transfer in/out this period -- -- -- --
Interest earned -- -- -- --
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Balance carried forward on 15 Mar 2007 -- -- -- --
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Spread Account
Required Spread Account Amount 28,953 -- -- 28,953
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Balance at 15 Feb 2007 14,477 -- -- 14,477
Transfer in/out this period 14,386 -- -- 14,386
Interest earned 90 -- -- 90
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Balance carried forward on 15 Mar 2007 28,953 -- -- 28,953
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Principal Funding Account
Balance at 15 Feb 2007 -- -- -- --
Transfer in/out this period -- -- -- --
Interest earned -- -- -- --
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Balance carried forward on 15 Mar 2007 -- -- -- --
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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6 Subordination Percentages Series 07-A
Original Current
(pound)000 % (pound)000 %
Class A Investor Interest 57,905 100% 57,905 100%
Class B Investor Interest -- 0% -- 0%
Class C Investor Interest -- 0% -- 0%
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Total Investor Interest 57,905 100% 57,905 100%
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7 Assets of the Trust
(pound)000
-----------------
Total receivables at 28-Feb-07 (pound)4,775,517
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Aggregate amount of receivables that, as at
28 Feb 2007 were delinquent by: 30-59 days 60,943
60-89 days 48,150
90-179 days 125,632
180 or more days 192,076
8 Material Changes
New Issuance during period On 1 February 2007 the Issuer issued EUR
51,200,000 Series 2007-A Class A2 Asset Backed
Floating Rate Notes due 2014 and GBP
24,000,000 Series 2007-A Class A3 Asset Backed
Floating Rate Notes due 2014
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 March, 2007
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The Royal Bank of Scotland plc, as Servicer
Patrick Neville
Chief Financial Officer, Cards Business