Middlesex University


Financial Statements 2015/16


34. million+


At 31 July 2016 £000


Balance brought forward Subscriptions received from affiliated universities Campaign expenses Balance carried forward at 31 July


301 408 709


(446) 263


At 31 July 2015 £000


307 373 680


(379) 301


million+ is a university think-tank seeking to solve complex problems in the higher education sector. It is funded by subscriptions received from its affiliated member universities.


The University acts as a paying agent for million+. All of the funding and related disbursements are therefore excluded from the statement of income and expenditure account and shown within Note 19 other liabilities due within one year.


35. 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 2016


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 2016


Consolidated £000


Secured loans Unsecured loans


Obligations under finance leases Other liabilities and payables Trade payables Accruals


36.Related party transactions


During the year the board agreed to pay Middlesex University Student Union (MDXSU) a grant of £943k for the year ending 31 July 2016 (2015: £888k). MDXSU (Charity registration number 1140254) is represented on the University’s board of governors. The grant was provided in accordance with the Universities normal policies and procedures. Although MDXSU receives an annual grant and the University works closely with them, they are an independent organisation which represents student interests on a local, regional and national level.


75


85,456 52 1


10,070 4,427 13,194


113,200


University £000


85,456 – –


9,949 3,469


12,474 111,348 Year Ended 31 July 2015


Consolidated £000


88,193 351 2


9,906 3,246


10,873 112,571


University £000


88,193 – –


9,839 2,303 10,411


110,746


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 Year Ended 31 July 2015


Consolidated £000


3,591 4,590 6,257


4,703 –


30,000 33,284


82,425


University £000


2,832 4,590 5,374


3,630 3,127


30,000 24,236


73,789


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