Financial Statements 2011-12 33
Notes to the Financial Statements For the year ended 31 July 2012
12 Intangible assets Cost At 1 August and 31 July
Amortisation At 1 August
Charge for the year Impairment At 31 July
Net book value At 31 July
Consolidated and University
2011-12 £’000 1,498
408 136 954
1,498 0
2010-11 £’000 1,498
272 136 0
408 1,090
On 31 October 2008, the University ended its partnership with Insearch Ltd. The intangible asset represents the discounted value of the goodwill arising from acquisition of the business from Insearch Ltd and has been written off in 2011-12.
13 Endowment assets Consolidated Balance at 1 August New endowments invested
(Decrease)/Increase in market value of investments Increase/(Decrease) in cash balances held for
endowment funds At 31 July
Represented by: Absolute return funds Equities
Cash at bank held for endowment funds Total endowment assets at market value
14 Debtors Consolidated
2011-12 £’000
Trade debtors Student fees
Research debtors Prepayments and accrued income
Amounts owed by subsidiary undertakings Total amounts falling due within one year
Amounts falling due after one year
1,170 1,221 4,959 3,499 0
10,849 0 10,849
2010-11 £’000
2,305 829
2,294 3,410 0
8,838 122 8,960
2011-12 £’000
731
1,221 4,959 3,038 337
10,286
18,055 28,341
University
2010-11 £’000
1,475 829
2,294 3,410 45
8,053
18,977 27,030
On acquisition of Universal Accommodation Group Ltd in 2004, the University loaned the company £21.779m in order for the company to repay its debt. During 2009, the repayment terms were re-negotiated with the University to achieve a repayment profile in line with funding projections for the company. Under this agreement, the loan will be fully repaid by 2024.
2011-12 £’000 5,066 0
(204) 315
5,177 858
3,629 690
5,177
2010-11 £’000 4,521 200 424 (79)
5,066 892
3,799 375
5,066
2011-12 £’000 5,066 0
(204) 315
5,177 858
3,629 690
5,177 University
2010-11 £’000 4,521 200 424 (79)
5,066 892
3,799 375
5,066
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