b'44 Mercia asset Management PLc Annual Report and Accounts 2021Chief Financial Officers reviewRecordresults and accelerating momentumTurn over to read Martins full review.34.0m 176.0mProfit/(loss) before taxation Net assets2020: 17.6m loss 2020: 141.5m40.0p 54.7mNet assets per share Unrestricted cash*2020: 32.1p 2020: 30.2m* Including short-term liquidity investments.'