Financial Statements 2018/19


15.Non-Current Investments Consolidated


Other


Subsidiary companies £’000


At 1 August 2018 At 31 July 2019 University At 1 August 2018 At 31 July 2019 Subsidiary companies


The board believe that the carrying value of the investments in trading subsidiary companies is supported by the subsidiary company net assets and/or their business plans. Investments in the subsidiary companies are stated at cost. The University holds a £2m provision against MU Ventures Limited (2018: £2m) and a £4k provision against Middlesex University (Malta) Limited (2018: £3k). Details of the subsidiary companies are shown in note 28.


Other non-current investments The non-current investments have been valued at market value.


Other non-current investments consist of: Shares in CVCP Properties plc


Consolidated and University £’000


36 36


CVCP Properties plc is a company owned by 135 UK university institutions, whose executive heads (vice-chancellors or principals) are members of Universities UK. Universities UK is the representative organisation for the United Kingdom’s universities.


On 27 June 2019 the University sold its shareholding in Argentium International Limited for £7k. – – £’000 25 25


non-current investments £’000


36 36 £’000 36 36


Total £’000


36 36 £’000 61 61


88


Middlesex University


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