32 Financial Statements 2011-12
Notes to the Financial Statements For the year ended 31 July 2012
10 Tangible fixed assets University
Land and Equipment Assets in Buildings
course of £'000
Cost At 1 August 2011 Additions Transfers Disposal
At 31 July 2012
Depreciation At 1 August 2011 Charge for year
At 31 July 2012
Net book value At 31 July 2012
At 31 July 2011
185,184 5,278 8,460 (395)
£'000
13,732 2,454 562 0
198,527 16,748
32,095 4,355
(395) 36,055 162,472 153,089
6,111 2,225
0 8,336 8,412 7,621
construction £'000
5,659 4,201
(9,022) 0
838
0 0
0 0
£'000
204,575 11,933 0
(395) 216,113
38,206 6,580
(395) 44,391 838 5,659 171,722 166,369 Total Companies
Land and Equipment Buildings
£'000
24,699 1,061 0 0
25,760
3,704 486
0 4,190 21,570 20,995 £'000 234
1,098 0 0
1,332 8 12 0 20 1,312 226
Assets in course of
construction £'000
1,628 5,514 0 0
7,142
0 0
Impairment 0 0 0 0 0 0 0 Disposal
0 0
7,142 1,628
Consolidated Total
£'000
231,136 19,606 0
(395) 250,347
41,918 7,078 0
(395) 48,601 201,746 189,218
University Land and Buildings include £5.226m (2010-11:£5.089m) in respect of freehold land which is not depreciated and leasehold properties with a net book value of £2.079m (2010-11: £2.132m).
Additions to University land and buildings in the year includes for assets in the course of construction and for which no depreciation charge has been made. Land, buildings and equipment with a net book value of £77.368m (2010-11: £69.228m) have been funded by capital grants of £38.263m and other gifts and donations of £27.644m.
The University Equipment includes assets valued at £798k for works of art deemed to be heritage assets and which were capitalised in 2009-10. The University's external valuer (Lyon & Turnbull) carried out a full valuation of the collection at 18 February 2010. The values were established on the basis of the valuer's assessment of the likely replacement cost at suitable spcialist retail outlets, having given consideration to quality and condition for a similar item.
11 Investments At 1 August (Disposals)/Additions
Revaluations (debited)/credited to the revaluation reserve At 31 July
Comprising: Equities
Subsidiary companies: University of Essex Knowledge Gateway Holdings Ltd Universal Accommodation Group Ltd University of Essex Campus Services Ltd Wivenhoe House Hotel Ltd Other investments
Consolidated
2011-12 £'000 4,663 0
(206) 4,457
4,410
0 0 0 0
47 4,457
2010-11 £'000 6,237
(2,025) 451
4,663 4,616
0 0 0 0
47 4,663 University
2011-12 £'000
25,410 5,752 (206)
30,956 4,410
12,491 2,892 1,251 9,865 47
30,956
2010-11 £'000
22,200 2,759 451
25,410 4,616
12,391 2,892 999
4,465 47
25,410
Land designated for the development of the Knowledge Gateway is held by the University of Essex Knowledge Gateway Holdings Ltd, a wholly owned subsidiary. Details of investments in all subsidiary undertakings are included in note 27. University of Essex Campus Services changed its name from University of Essex Commercial Services Ltd in August 2012.
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