Annual Accounts 2010 - University of Abertay Dundee

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University of Abertay DundeeAnnual report and financial statements31 July 2011Notes (continued)15 Creditors: amounts falling due within one yearGroup University Group University2011 20112010 2010£000 £000 £000 £000Bank loans 150 150 150 150Trade creditors 880 880 1,537 1,537Other creditors 2,770 2,770 2,591 2,591Social security and other taxation payable 619 619 462 462Accruals and deferred income 3,312 3,312 4,922 4,9227,731 7,731 9,662 9,66216 Creditors: amounts falling due after one yearGroup University Group University2011 20112010 2010£000 £000 £000 £000Bank loans 1,950 1,950 2,100 2,100The above represents a secured bank loan used to part-finance the construction of the Student Centre,with a repayment period of 20 years commencing on 1 July 2005 and a floating interest rate linked toLIBOR. The finance costs in the year relating to this loan have all been charged to Income andExpenditure Account. The University has granted a standard security over the Student Centre propertyand a floating charge over the whole of its assets.The above bank loans are repayable as follows:2011 2010£000 £000In one year or less 150 150Between one and two years 150 150Between two and five years 450 450In five years or more 1,350 1,5002,100 2,25017 Provisions for liabilities and charges2011 2010£000 £000At beginning of year 2,603 2,338Expenditure in period (159) (156)Revaluation adjustment 104 421At end of year 2,548 2,603The provision is for enhanced pension benefits to former members of staff. The valuation of thepension provision has been updated at 31 July 2011 using tables supplied by the Scottish FundingCouncil.30
University of Abertay DundeeAnnual report and financial statements31 July 2011Notes (continued)18 Deferred capital grantsFunding Council£000Other grants£000Total£000Balance at 1 August 2010Buildings 6,336 8,365 14,701Equipment 334 27 361Total 6,670 8,392 15,062Cash receivedBuildings 1,431 1,000 2,431Equipment - - -Total 1,431 1,000 2,431Released to income andexpenditure account:Buildings (note 1) 157 232 389Equipment (note 1) 174 23 197Total (note 8) 331 255 586Balance at 31 July 2011Buildings 7,610 9,133 16,743Equipment 160 4 164Total 7,770 9,137 16,90719 EndowmentsRestrictedRestricted2011 2010£000 £000At 1 August 2010 995 909Appreciation of endowment asset investments (note 12) 61 110Income for year (Note 5) 28 31Expenses for year (78) (55)At 31 July 2011 1,006 995Representing:Scholarship funds 67 63Prize funds 103 197Other funds 836 7351,006 99531
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Annual Accounts 2010 - University of Abertay Dundee

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