MIDDLESEX UNIVERSITY – NOTES TO THE ACCOUNTS (continued)
Year ended 31 July 2021
24. CASH AND CASH EQUIVALENTS Consolidated
Cash and cash equivalents
At 1 August 2020 £’000
94,183 94,183
At 1 August 2020 £’000
University Cash and cash equivalents
88,249 88,249
The University cash represents £43.3m (2020: £50.1m) of funds held in operating bank accounts.
Cash equivalents of the University represent £48.2m (2020: £38.1m) of funds deposited for short term (with maturity of three months or less at the date of deposit) investment purposes with two other parties as follows:
£35.6m (2020: £13.1m) is deposited with Royal London Asset Management Limited. A further £12.6m (2020: £25m) in funds is held with Lloyds Bank plc which operates in the London market and is licensed by the Prudential Regulation Authority. Deposits comprise a mixture of day notice and fixed term trades, therefore interest rates may be variable and/or fixed for the duration of the deposit at the time of placement depending on the deposit type.
Cash and cash equivalents of the University include £433k (2020: £436k) in respect of net monies held on behalf of third parties as disclosed in notes 32 to 34.
25. RECONCILIATION OF NET DEBT
Consolidated Analysis of changes in net funds/(debt):
Cash and cash equivalents
Obligations under finance lease Secured loans Net funds
At 1 August 2020 £’000
94,183 (3,862) (71,911) 18,410
26. CAPITAL AND OTHER COMMITMENTS Provision has not been made for the following capital commitments at 31 July 2021: 31 July 2021
Consolidated £’000
Commitments contracted for at 31 July Authorised by the Board but not contracted for at 31 July 1,129
20,146 21,275
134
University £’000
1,129
20,146 21,275
Cash flows £’000
4,144 965
3,861 8,970
Foreign exchange
translation loss £’000
(150) – –
(150)
At 31 July 2021 £’000
98,177 (2,897) (68,050) 27,230
Cash flows £’000
3,994 3,994
Cash flows £’000
3,241 3,241
At 31 July 2021 £’000
98,177 98,177
At 31 July 2021 £’000
91,490 91,490
31 July 2020
Consolidated £’000
1,714
25,210 26,924
University £’000
1,714
25,210 26,924
Middlesex University
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