Financial Statements 2019/2020


MIDDLESEX UNIVERSITY NOTES TO THE ACCOUNTS (continued)


Year Ended 31 July 2020 33. MILLIONPLUS At


31 July 2020 £’000


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


290 521 811


(445) 366


At


31 July 2019 £’000


272 492 764


(474) 290


MillionPlus 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 MillionPlus. All of the funding and related disbursements are therefore excluded from the statement of comprehensive income and expenditure account and shown within note 20, other liabilities due within one year.


34. COLLABORATIVE RESEARCH FUNDS At


31 July 2020 £’000


Balance brought forward Partner funds received


Distributions to partners Balance carried forward at 31 July 2


700 702


(596) 106


At


31 July 2019 £’000


127


1,350 1,477


(1,475) 2


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 the University receives funding 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 how 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 statement of financial position 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 comprehensive income and expenditure and shown within note 20, 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.


Middlesex University


129


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