Middlesex University
Financial Statements 2016/17
33. Collaborative research funds
Project VALCRI £000
Balance brought forward Partner funds received
Distributions to partners Balance carried forward at 31 July -
421 421 (11) 410
Other
Projects £000
-
369 369
(369) -
Total £000
-
790 790
(380) 410
The University is the lead partner-coordinator for a number of European Commission and UK Government Research funding agreements involving other named collaborative partners.
Where funding is received by the University as the lead coordinator in a collaborative research agreement it acts as paying agent for the funding of the other participants with no discretion over which the funds received are put acting in accordance with the instructions and directions of the funder. The funds received by the University as agent are not recognised as assets in its balance sheet as the funds are not within its control. The receipt of the funds is not recognised as income, nor is the distribution to another named partner recognised as expenditure and as such excluded from the statement of income and expenditure and shown within Note 19 other liabilities due within one year.
The proportion of the grant funding that is attributable to the University for delivering its component of the grants purpose is recognised in Note 5 dependent on the performance related conditions being met.
34. Financial instruments The University has the following debt instruments measured at amortised cost.
Financial assets that are debt instruments measured at amortised cost: Year Ended 31 July 2017
Consolidated £000
Trade debtors Tuition fees
Other receivables Accrued income
Amounts due from subsidiary companies Investments
Cash and cash equivalents Financial liabilities measured at amortised cost: Year Ended 31 July 2017
Consolidated £000
Secured loans Unsecured loans
Obligations under finance leases Other liabilities and payables Trade payables Accruals
82,443 1 -
13,313 3,268
11,839 110,864
University £000
82,443 - -
13,209 2,196
10,981 108,829 Year Ended 31 July 2016
Consolidated £000
85,456 52 1
10,070 4,427 13,194
113,200
University £000
85,456 - -
9,949 3,469
12,474 111,348
3,093 6,075 8,891
4,006 -
30,000 42,106
94,171
University £000
2,142 5,979 7,796
2,438 3,909
30,000 37,021
89,285 Year Ended 31 July 2016
Consolidated £000
2,953 4,667 9,471
5,272 -
30,000 37,112
89,475
University £000
1,743 4,667 8,558
3,507 6,731
30,000 29,949
85,155
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