Middlesex University


Financial Statements 2015/16


24. Capital and other commitments


Consolidated £000


Provision has not been made for the following capital commitments at 31 July 2016:


Commitments contracted for at 31 July Authorised by the board but not contracted for at 31 July 1,837


14,761 16,598


25. Contingent liabilities


The University has given written undertakings to support the UK subsidiary company disclosed at Note 28 for twelve months from the date of approval of these financial statements.


26. Lease obligations


At 31 July the group was committed to making the following minimum lease rental payments in respect of operating leases: Total rentals payable under operating leases:


31 July 2016


Land and Buildings £000


Future minimum lease payments due: Not later than 1 year


Later than 1 year and not later than 5 years Later than 5 years


Total lease payments due 27. Events after the reporting period


On 25 October 2016 the University ended its lease arrangements at part of the New Southgate campus. At that date all existing lease obligations and liabilities in relation to Building 4 were terminated early through a deed of settlement with the landlord. The cost of the lease which was normally due to expire in 2020 was previously subject to a provision for an onerous lease which is reported as part of Note 21 - Onerous contract provision. The activities and lease arrangements at Building 2 of the New Southgate campus continue and were unaffected by this change.


Equipment £000


Total £000


31 July 2015


Total £000


1,837


14,761 16,598


1,738


26,261 27,999


1,738


26,261 27,999


31 July 2016


University £000


Consolidated £000


31 July 2015


University £000


2,247 9,388


33,508 45,143


215 17 –


232


2,462 9,405


33,508 45,375


2,521 8,779


36,680 47,980


66


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78