Annual Report and Accounts 11/12 - Glasgow School of Art

NOTES TO ACCOUNTS - continued18 EndowmentsPermanent Expendable Total£000 £000 £000At 1 August 2011 2,543 293 2,836Income for year 199 5 204Expenditure for year (183) (3) (186)Accumulated income retained 16 2 18Additions - - -Appreciation of endowment asset investments 13 (2) 11At 31 July 2012 2,572 293 2,865RepresentingPrizes funds 2,572 - 2,572Other funds - 293 2932,572 293 2,86519 Revaluation Reserve 31 July 2012 31 July 2011£000 £000Balances as at 1 August 2011 10,129 11,544Impairment of fixed asset value - (1,037)Released in year to Income & Expenditure Account (322) (378)At 31 July 2012 9,807 10,12920 Income and Expenditure AccountGeneral Departmental TotalFunds Balances£000 £000 £000Balances as at 1 August 2011 1,363 108 1,471Surplus/ (deficit) after depreciation at valuation (155) - (155)Transfer from pension reserve (33) (33)Transfer from departmental balances 7 (7) -Release of Revaluation Reserve 322 - 322At 31 July 2012 1,504 101 1,60521 Pension reserveTotal£000 £000 £000Balances as at 1 August 2011 (2,692) (2,692)Employer contributions 868Current service cost (880)Interest cost (1,049)Return on employer assets 1,094 33 33Actuarial gain/ (loss) in pension scheme (3,165) (3,165)(5,824) (5,824)33