Financial Statements 2017/18
23. Cash and cash equivalents Consolidated
Cash and cash equivalents
At 1 August 2017 £’000
42,106 42,106
At 1 August 2017 £’000
University Cash and cash equivalents
37,021 37,021
University cash represents £11.4m of funds held in operating bank accounts.
Cash equivalents of the University represent £63.5m of funds deposited for short term (less than three months’ maturity at the balance sheet date) investment purposes with two other parties:
£41m is deposited with Royal London Asset Management Ltd. A further £22.5m in deposits is held with Lloyds Bank plc operating in the London market and licensed by the Prudential Regulation Authority with less than three months maturity at the balance sheet date. This deposit and the deposit amount reported at note 18, represent £30m of total deposit security required by Lloyds Bank plc under the secured bank loan facility detailed at note 20. The interest rates for the Lloyds Bank plc deposits are fixed for the duration of the deposit at time of placement.
Cash and cash equivalents of the University includes £559k (2017: £791k) in respect of monies held on behalf of third parties as disclosed in notes 30 to 32.
24. Capital and other commitments Provision has not been made for the following capital commitments at 31 July 2018: 31 July 2018
Consolidated £’000
Commitments contracted for at 31 July Authorised by the board but not contracted for at 31 July 1,918
20,209 22,127
25. Contingent liabilities
There were no potential liabilities dependant on the outcome of an uncertain future event which would require disclosure or adjustment to the financial statements for the year ended 31 July 2018.
26. Lease obligations
At 31 July the group was committed to making the following future minimum lease rental payments in respect of non-cancellable operating leases. Total rentals payable under operating leases:
31 July 2018
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 86
1,950 7,191 9,496
18,637
Equipment £’000
124 241 –
365
Total £’000
2,074 7,432 9,496
19,002 31 July 2017
Total £’000
2,061 4,168 3,109
9,338 Middlesex University
University £’000
1,918
20,209 22,127
Cash Flows £’000
37,628 37,628
Cash Flows £’000
37,951 37,951
At 31 July 2018 £’000
79,734 79,734
At 31 July 2018 £’000
74,972 74,972
31 July 2017
Consolidated £’000
1,942
11,296 13,238
University £’000
1,942
11,296 13,238
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