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2021-03-31-accounts

TRUSTEES Prof P Rigby FRS - Chairman Prof P Rigby FRS - Chairman Prof P Rigby FRS - Chairman Prof P Rigby FRS - Chairman
Mr G Allen
Mr G graham
Dr J Briscoe FRS
Prof G Brown FRS
Dr LGailey
Prof N Jones
Prof P Parker FRS
Ms A Pygall
MEMBERS Chairman
Babraham		 Institute Board —Prof P Rigby FRS
Chairman
Babraham		 Institute Audit Committee —Mr G graham
UKRI-BBSRCCorporate Member —Prof M Welham
SECRETARY Mr 5Jones
REGISTERED OFFICE Babraham
Institute
Babraham
Hall
Babraham
Cambridge
CB22 3AT
AUDITOR Grant Thornton UK LLP
101Cambridge Science Park
Milton Road
Cambridge
CB4 OFY
BANKERS Lloyds Bank Pic
4th Floor
25 Gresham Street
London
EC2V 7HN
INTERNAL AUDITORS RSM Risk Assurance Services LLP
The Pinnacle
170Midsummer Boulevard
Milton Keynes
Buckinghamshire
MK9 1BP
INVESTMENT BANK Royal Bank ofCanada
Riverbank
House
2 Swan Lane
London
EC4R 3BF
REGISTERED COMPANY NUMBER: 03011737
CHARITY REGISTRATION NUMBER: 1053902

The Institute The Institute The Institute Board Board ofTrustees
is responsible		 for ensuring
there are effective and adequate
risk management		 for ensuring
there are effective and adequate
risk management		 for ensuring
there are effective and adequate
risk management		 for ensuring
there are effective and adequate
risk management		 and and internal
control svstems in place to manage the major risks to which the charity
is exposed. The Audit Committee		 agrees an annual
risk-based internal audit
plan which covers		 major risks identified
by management
and the Board of Trustees.		 It receives
reports from internal auditors
on the effectiveness of internal
controls, progress against the internal
audit		 plan and progress
on recommendations made
in reports. The		 Board of Trustees
reviews
a full risk report
annually
tracking		 major risks. The
Science and Impact Advisory
Committee
(SIACI also		 assess the science quality
and vision covered
in various sections of the
risk register. The table below summarises
how the Institute
manages
its key risks.
Risk Area Description of Risk Risk Management
Future UKRI- UKRI-BBSRCcurrent and future Regular monitoring
ofscientific performance,
including
BBSRC research funding
is reduced as a result of		 consideration
from the Science and Impact Advisory		 Committee
funding poor performance
or public		 (SIAC).
sector spending
pressures.		 Regular communication
with UKRI-BBSRCto report
performance
and ensure strategic alignment
ofresearch
programmes.
Monitoring
ofperformance
ofcompetitive
grant submissions		 with
emphasis
on widening
the pool ofgrant funders.
Loss of The Institute or its Group The Research Integrity Steering Group was established
to oversee
research Leade'rs become ineligible to all aspects ofresearch integrity
within the Institute.
funding from
other sources		 receive funding
from principal
funding bodies as a result of'::		 The Steering Group will review current
Institute
policy and		 practice
lack of compliance
with funders		 against Funder requirements
to ensure compliance.
policies, i.e., regarding
bullying
and harassment
or research		 Additional
training
will be put in place to ensure
all		 Individuals
misconduct. adhere tothe highest standards
of professional
conduct.
The Institute
will seek to secure alternative
sources		 offunding and
collaboration
to mitigate
against the possible loss of EU grant
income.
Technology The Institute
is unable to		 keep Funding opportunities
identified
and pursued
for technology
investment pace with developments in investments.
technology
underpinning		 its
science. Regular communication
with UKRI-BBSRCto ensure		 alignment of
technological
capacity with research programmes.
Funding
is inadequate
to		 sustain
and improve technology
facilities necessary to support
scientific objectives.
Staff retention The Institute
is unable to		 retain Career development
programmes
in place to support staff.
and or attract suitably
skilled		 staff to
recruitment enable it to sustain its scientific Performance
Management
processes
in place.
performance.
Recruitment
strategy
and processes
in place.
The Board ofTrustee's instigated
a review ofstaff pay and		 rewards
to ensure pay remains competitive,
benchmarking
against		 a range
ofcomparable
scientific organisations.

RISK MANAGEMENT ICONTINUEDI ICONTINUEDI
Risk Area Description
of Risk		 Risk Management
Estates Estate facilities do not A 5-year Business Plan developed
for 2017-22 includes significant
adequately support the delivery UKRI-BBSRC investment
in Blfacilities to support the Estates
of its scientific objectives. Strategy.
Funding
is		 inadequate to Facilities management
systems are being enhanced.
sustain and improve facilities
necessary to support scientific Energy usage data is being developed
and		 energy
plan being
objectives implemented.
Business A major incident, or business Disaster recovery and Business Continuity plans in place and
:Continuity disruption such as a pandemic, tested periodically.
interrupts scientific research
programmes
and/or.		 Review ofcompliance
with health 5 safety		 and relevant
administiative
sy'stems.
.		 regulations
from government
agencies and		 internal
auditors.
Appropriate
commercial
insurance
arrangements
in place.
COVID-19 Adverse
impact ofthe Covid-19		 A Covid-19 Secure Risk Assessment
is in place, including
pandemic on Institute staff and mitigation
for the following
risks:
operations, 'resulting in the ~
The transmission
ofCovid-19 on site by person-to-person
inability to meet key Institute transmission.
objectives. ~
The impact ofthe pandemic
and working
conditions		 on
the mental
and physical
wellbeing		 ofstaff.
~
The impact ofthe pandemic
and working conditions		 on
equality
and diversity.
~
The maintenance
of buildings
and		 facilities on site during
the pandemic.
~
Information
security breaches due		 to new working
conditions
and an increase
in fraud / seams during the
pandemic.
~
The financial
impact ofthe pandemic.
The Institute
is implementing
a phased
return to work on site		 and
supporting
staff to work from home where		 possible
in order to
continue to deliver key Institute objectives.

2021 2020
E'000 E'000
Deficit before Investment gains/losses, depreciation and transfers —unrestricted funds (2,601) (2,870)
Depreciation (net oftransfers)
and		 other transfers (1,920) (523)
Fair Value adjustment
to		 investment properties (1,750) 1,250
Impairment on investment in'subsidiary ' (468)
Investment Income (dividends
and		 interest) 357 532
Investment gains/(losses) -realised and unrealised 4,842 (722)
Surplus/(Deficit)
for year- unrestricted		 funds (1,540) (2,333)

Restricted Restricted Un- 2021 2020
revenue capital restricted Total Total
Note funds funds funds funds Funds
E'000 E'000 E'000 E'000 E'000
Income from:
Charitable
activities		 18,289 2,949 4,408 25,646 24,975
Trading activities 11,048 11,048 11,681
Investment
income		 419 419 600
Totalincome 18,289 2,949 15,$75 37,113 37,256
Expenditure
on:
Charitable
activities		 (18,289) (12,101) (30,390) (31,613)
Raising funds (227) (8,259) (8,486) (7,854)
Taxation 7 3,739 3,739 (933)
Total expenditure (18,289) (227) (16,621) (35,137) (40,400)
Profit on investments "10,11,12 2,619 2,619 3,056
Exceptional
Items		 23 (35,148) (35,14$)
Net income/(expenditure) 2,722 (33,275) (30,553) ($$)
Net income/(expenditure)
for the year is
attributable
to:
The parent undertaking 6,910 (42,886) (35,976) 1,010
Minority interest (4,18$) 9,611 5,423 (1,09$)
2,722 (33,275) (30,553) (88)
Transfers
Release ofcapital funds / transfers 17 672 (2,581) 1,909
Exceptional
Release		 ofcapital funds 23 ($,06$) 8,068
Other recognised gains and losses
Gain on revaluations oftangible fixed assets 3,513 3,513 3,150
Other recognised gains forthe year is
attributable
tor
The parent undertaking 3,513 3,513 3,150
Minority interest
3,513 3,513 3,150
Movement
in funds		 attd beta ble minority
interests (4,188) 9,611 5,423 (1,098)
Net movement
in		 funds 672 ($,602) (13,687) (21,617) 1,964
Balances brought farward 17 4,775 119,189 36,611 160,575 158,611
Balances carried forward at 31March 2021 17 5,447 110,587 22,924 138,958 160,575

Note Group Institute
2021 2020 2021 2020
6'000 6'000 6'000 6'000
Fixed assets
Intangible assets 8 96 85
Tangible assets 9 93,533 91,359 92,945 90,613
Investment properties 10 3,700 40,450 3,700 5,450
Investments 11,12 34,878 34,065 40,225 39,493
132,207 165,959 136,870 135,556
Current assets
Stocks 13 233 208 132 147
Debtors 14 7,086 5,976 5,638 4,175
Cash at bank and in hand 20,082 15,633 4,692 2,297
27,401 21,817 10,462 6,619
Creditors: amounts
one year		 falling due within 15 (13,813) (10,865) (9,781) (7,340)
Net current assets/(liabilities) 13,588 10,952 681 (721)
Total assets less current liabilities 145,795 176,911 137,551 134,535
Debtors: amountsfalling due
after more than one year 16 253
Provisions. fog liabilities: Deferred tax 16 (3,823)
Net assets 146,048 173,088 137,551 134,835
Funds
Restricted capital fund 48,346 56,425 48,291 48,220
Revaluation Reserve 62,241 62,764 62,241 58,728
17 110,587 119,189 110,532 106,948
Unrestricted funds 17 22,924 36,611 21,572 23,112
Restricted
revenue		 fund 17 5,447 4,775 5,447 4,775
138,958 160,575 137,551 134,835
Minority Interests 7,090 12,513
146,048 173,088 137,551 134,835

2021 2020
Note 6'000 6'000 6'000 6'000
Cash flows from operating
activities
Net movement
in funds		 17 (27,040) 3,062
Depreciation
charge		 4,434 4,332
Amortisation
ofintangible
assets		 14 21
(Profit)/Loss
on disposal offixed assets		 (157) 62
(Impairment
Reversal)/Impairment		 of investments
11 387 (461)
Revaluations
and fair value adjustments		 9,10 (1,763) (6,467)
Capital grants received 2 (2,949) (1,765)
Tax charge 7 (3,739) 933
Interest received 2 (419) (600)
Interest paid
De'crease/(Increase)in
stocks :.'		 13 (25) 2
97
'(Increase)/Decrease
in debtors
l		 14 (1,065) (654)
Increase/(Decrease)
in creditort!		 15 3,075 1,570
Tax (paid)/refunded (509) (672)
Reclassification/transfer
ofinvestment		 properties 10 35,148
Net cash provi ded/(usedj
by opero		 ting activities 5,392 (540)
Cash flows from investing
activities
Interest Received 2 419 600
Payments to acquire intangible
fixed assets		 8 (48) (28)
Payments to acquire tangible
fixed assets		 9 (3,244) (2,178)
Payments to acquire investment
properties		 10 (33)
Payments to acquire investments (net af feesi 12 (12,882) (9,071)
Receipts from sale oftangible
fixed assets		 48
Receipts from sale of investments 8,055 9,184
Capital grants received 2,949 1,765
Net cash provided/(used
)by investing		 octi vi ties (4,703) 239
Cash flows fram financing activities
Loan interest (2)
Cash funds withdrawn
from investments		 held 12 3,760 3,000
Nef cash provided/(used)
byfinancing		 octivities 3,760 2,998
Change
in cash and cash equivalents		 in the reporting
period 4,449 2,697
Cash and cash equivalents
at the beginning		 ofthe
reporting
period		 15,633 12,936
Cash and cash equivalents
at the end		 ofthe reporting
period 20,082 15,633
The net debt reconciliation
is shown
in Note 21.

Restricted Restricted Unrestricted 2021 2020
revenue capital funds funds Total Tote I
funds
f'000 f'000 f'000 f'000 f'000
Trading activities:
Grant Income 1,024
Goods and services 3p094 3,094 3,062
Rent 7,954 7,954 7,595
11,048 1lp048 11,681
Investment
income:
Bank interest and dividends
receivable 377 377 586
Royalty/licence
income		 42 42 14
419 419 600
Charitable
activities:
Grants and Donations UKRI-BBSRC
-Competitive
strategic grant '		 9,633 9,633 9,650
—Minor works
'"-Other grants		 ,1,530
982		 2,949 1,530
3,931		 1,510
1,912
Competitive
project		 grants ,1,454 1,454 1,046
Medical Research Council 1,124 1,124 1,471
University
Links		 228 228 231
European
Union		 777 777 1,454
Industry,
levy boards		 406 406 483
Trusts, foundations, charities 2,155 2,155 1,520
Goods and services 2,768 2,768 '3,967
Rent 1,640 1,640 1,731
18,289 2,949 4,408 25,646 24,975
Total income 18,289 2,949 15,875 37,113 37,256
Total Income 2020 17,512 1,765 17,979 37,256
2021 2020
E'000 F'000
UK 35,626 35,727
Europe 1,486 1,493
Rest ofWorld 1 36
37,113 37,256

Allocation Allocation basis Scientific Governance Total Total
Research 2021 2020
E'000 E'000 E'000 E'000
Staff costs Direct 6,366 150 6,516 6,659
Laboratory supplies Direct 1,914 1,914 2,202
Travel and subsistence Direct 6 6 150
Equipment and hire charges Direct 69 69 105
Computing costs Direct 5 5 10
Library Direct 49 49 109
Legal &professional charges Direct', I 124 187 311 263
Recruitment Direct i 3 3 6
Training Direct 1 1 4
Other costs Direct . . 340 340 361
Scientific services support costs Use ofresource 21,176 21,176 21,744
Total Charitable
costs		 30,053 337 30,390 31,613
Total Charitable costs 2020 31,261 352
Commercial trading operation costs 8,486 7,854
Taxation (note 7) I3,739) 933
Total Group costs 35,137 40,400

Technical Total Total
Administration Estates Services 2021 2020
E'000 E'000 E'000 E'000 E'000
Staff costs 3,101 1,048 3,994 8,143 7,814
Travel and subsistence 31 1 12 44 189
Repairs and maintenance 697 789 1,486 1,966
Rent and rates 672 21 3 696 637
Fuel and water charges 48 1,227 1,275 967
Equipment
and hire charges		 10 9 302 321 332
Depreciation 4,122 4,122 3,994
Minor works 1 1,480 1,482 1,570
Waste disposal 1 5 6 3
Computing
costs		 50 202 252 492
Legal and professional charges 183 141 18 342 295
Recruitment 21 21 53
Training
.:		 57 37 94 125
Library 22 307 329 292
Food purchases 31 31 50
Bad debts 12 12 4
Loss on disposal offixed assets
Other costs 867 443 1,210 2,520 2,961
9,179 5,122 6,875 21,176 21&744
Total Support Costs 2020 9,227 5,031 7,486 21,744
2021 2020
E'000 E'000
Staff costs 150 188
Travel and subsistence 9
Legal and professional charges 187 155
337 352

Group Institute
2021 2020 2021 2020
E'000 E'000 E'000 E'000
Incoming resources and resources
expended
are stated after		 charging:
Amounts
payable to auditors		 in respect of
audit services to the Institute 65 74 65 74
Amounts
payable to auditors		 in respect
ofaudit services to subsidiary
undertakings 42 27
Amounts
payable to auditors		 in respect of 12 25 6 15
non-audit
services*
Net loss/(gain)
on foreign		 currency
translations (75) (18) (75) (19)
Depreciation 4,434 4,332 4,122 3,994
Amortisation
ofintangible		 fixed assets 14 21
Loss/(Profit)
on disposal -		 fixed assets (1571 132
Operating
lease payments		 in respect of:
land and buildings
'		 501 479 501 479
otherleases 15 55 15 55

taff co sts for all employe es
were as		 follow s:
Group Institute
2021 2020 2021 2020
E'000 E'000 E'000 E'000
Wages and salaries 13,280 13,151 11,563 11,522
Social security costs 1,302 1,253 1,126 1,081
Other pension costs 2,189 2,152 1,971 1,928
16,771 16,556 14,660 14,531
he average number ofemploy ees
during the year		 was as foll
2021 2020
No No
Charitable activities 118 117
Support activities 214 207
Commercial operations 42 42
374 366

Group Ins'tl'tu'te
2021 2020 2021 2020
No No No No
E 60,000-E 69,999 10
E 70,000-E 79,999
E 80,000-E 89,999
E 90,000-E 99,999
E100,000 —E109,999
E110-000- E119,999
E120-000 - E129,999
E130,000 —E139,999
E140,000 - E149,999
E150,000 - E159,999
E160,000 - E169,999
E170,000 —E179,999
E180,000 - E189,999
21 21 17 17

7
TAXATION		 7
TAXATION
Group Institute
2021 2020 2021 2020
E'000 E'000 E'000 E'000
Corporation tax
Current tax on profits for the year - BRC 531 577
Adjustment in relation to the prior year - BRC 398
Tax Relief in respect ofgift aid - BRC (95)
Current tax on profits for the year - BIE
Adjustment in relation to the prior year-BIE (17)
.'Total Current Tax 817 577
Deferred tax
Origination and reversal oftiming differences (4,556) 356
Total taxation on profits for the year (3,739) 933
Group
2021 2020
E'000 E'000
Surplus on ordinary
activities		 before tax as shown in the accounts ofthe
trading subsidiary;
BRC		 2,185 5,656
.Deficit on ordinary
activities		 before tax as shown in the accounts ofthe
trading subsidiary
- BIE		 (147)
Surplus on ordinary
activities		 multiplied by the standard rate of corporation 387 1,075
tax at 1994(2020: 19'Yo).
Effects of:
Expenses not deductible
for		 tax purposes 156 24
Impairment
charges on investments		 held (58)
Adjustments
totax charge
in		 respect of prior periods 381
Differences relating to Investment
Property		 and the associated Capital Grants (4,496) (14)
Amounts
relating to other comprehensive		 income or otherwise transferred (19)
Other differences
leading to		 an increase/(decrease) in tax charge 5 (57)
Tax relief on gift aid payment (95) (95)
Total taxation on profits for the year (3,739) 933

Group
Intellectual
Property
E'000
Cost
At 1April 2020 140
Additions 48
Disposals (55)
At 31March 2021 133
Amortisation
At 1April 2020 55
Provided for the year 14
.Disposals (32)
At 31March 2021 37
Net book va/ue
31March 2021 96
31March 2020 85

Short
leasehold land Fixtures and
Institute
.:		 and buildings equipment Total
f'000 f'000 f'000
Cost or valuation
At 1April 2020 85,249 23,349 108,598
Additions:. 2,941 2,941
Revaluations 838 838
Disposals (1,354) (1,354)
At 31March 2021 86,087 24,936 111,023
Depreciation
At 1April 2020 17,985 17,985
Provided for the year 2,675 1,447 4,122
Disposals, (1,354) (1,354)
Revaluations (2,675) (2,675)
At31March 2021 18,078 18,078
Net book value
At 31March 2021 86,087 6,858 92,945
At 31March 2020 85,249 5,364 90,613

Group Long term leasehold
investment properties
E'000
Valuation
At 1April 2020 40,450
Disposals (35,000)
Revaluation (1,750)
At 31March 2021 3,700
Historical net book value
at 31March 2021 328

Group and Institute Trade Group
Investments undertakings
E'000 E'000
Market Value/Cost
At 31March 2020 1,248 6,676
Additions
Disposals
Impairment (387) (468)
At 31March 2021 861 6,208
Babraham Research Babraham Institute
Campus Umited Enterprise Limited Total
E'000 E'000 E'000
Turnover 11,395 1,160 12,555
Profit/(loss) for the period
after taxation (20,693) (230) (20,923)
Non current assets 802 741 1,543
Current Assets 17,227 1,173 18,400
Current
Liabilities		 (4,764) (489) (5,253)
Net current assets 12,463 684 13,147
Non-current liabilities (61) (61)
Net assets 13,204 1,425 14,629

Minority interest 2021 2020
F.'000 E'000
At 1April 2020 12,513 11,415
Share of result (5,423) 1,098
At 31March 2021 7,090 12,513
Listed Securities - Grou and Institute Medium Term Lon Term 2021Total 2020Total
Market Value E'000 6'000 E'000 E'000
At 1April 2020 8,772 24,045 32,817 36,164
Additions 2,847 10,199 13,046 8,984
Disposals (2,876) (10,243) (13,119) (8,968)
Transfers/Withdrawals (1,880) (1,880) (3,760) (3,000)
Investment
Income		 200 155 355 522
Management
Charges		 (39) (125) (164) (163)
Realised and unrealised gains and losses 283 4,559 4,842 (722)
7,307 26,710 34,017 32,817
At 31March 2021
Historic cost of initial investment 7,189 20,878 28,067 31,112

Value Proportion Proportion of
F.'000 portfolio
Vanguard
Funds		 Pic 3,198 9.45fi
Bluebay Investments 2,218 6.5No
Brown Advisory funds 2,044 6.051
13
STOCKS
Group Institute
2021 2020 2021 2020
E'000 E'000 E'000 E'000
Raw materials,
consumables,		 and other stocks 233 208 132 147
14
DEBTORS
Group llostltu'te
2021 2020 2021 2020
E'000 E'000 E'000 E'000
Trade debtors 3,292 3,152 2,096 1,331
Amounts
owed		 by group undertakings 857 717
Corporation
Tax		 45
Grants receivable- 1,373 1,530 1,373 1,505
Other debtors 373 52 371 51
Prepayments
and accrued income		 2,003 1,242 941 571
7,086 5,976 5,638 4,175
Amounts owed by subsidiary undertokings
Trade debtors 497 390
Other debtors 360 327
857 717

Group Institute
2021 2020 2021 2020
f'000 E'000 f'000 f'000
Trade creditors 3,062 1,372 2,515 990
Amounts owed to group undertakings 353 359
Other creditors 3,723 3,493 1,580 1,515
Corporation
tax		 127
Other tax and social security 1,437 1,394 1,361 1,301
Grants
in		 advance 3,100 3,245 1,759 2,154
EU co-ordinated programme partners 1,214 86 1,214 83
Accruals 1,277 1,148 999 938
13,813 10,865 9,781 7,340
Amounts owed to group undertokdngs
Babraham Research Campus L'imited 328 271
Babraham institu'te Enterprise Limited 25 88
353 359
Reconciliation
ofmovement		 Reconciliation
ofmovement		 in grants receivable and in advance:
2021 2020
f'000 f'000
Grants receivable/in advance at 1April 2020 (3,245) (2,885)
Additional
grants		 18,289 17,152
Released during year (18,144) (17,512)
'Grants receivable/in advance at 31March 2021 (3,100) (3,245)

Group Institute
2021 2020 2021 2020
f'000 f'000 f'000 E'000
At 1April 2020 (3,823) (3,467)
Credited/(charged) to the statement of
financial activities 4,076 (356)
At 31March 2021 253 (3,823)
The provision for deferred tax is made up as follows:
Group Institute
2021 2020 2021 2020
E'000 E'000 E'000 f'000
Gains on revaluation ofassets (4,076)
Fixed asset timing differences 253 253
253 3,823

Restricted
capital
Restricted funds and
revenue Revaluation Unrestricted Minority
funds reserve funds Interests Total
E'000 E'000 E'000 E'000 E'000
Group
At 1April 2020 4,775 119,189 36,611 12,513 173,088
Incoming resources 18,289 2,949 15,875 37,113
, Expenditure,
losses		 and taxation (18)289) (227) (16,621) (35,137)
Profit on investments 2,619 2,619
.Transfers offunds, 672 (2,581) 1,909
Exceptional
Items		 (35,148) (35,148)
Transfers offunds on exceptional item (8,068) 8,068
Gain on revaluations 3,513 3,513
Funds attributahle to minority interests (4,188) '9,611 (5,423)
At 31March 2021 5,447 110,587 22,924 7,090 146,048
Institute
At 1April 2020 4,775 106,948 23,112 134,835
Incoming resourcek 18,347 2,949 7,045 28,341
Expenditure
and losses
'		 (18,347) (298) (13,117) (31,762)
Transfers offunds. 672 (2,580) 1,908
Revaluation
Movement		 3,513 3,513
Investment
gains		 2,624 2,624
At 31March 2021 5,447 110,532 21,572 137,551

Fund balances at 31March 20 21are repres ented
by:
Restricted
capital funds
Restricted and
revenue Revaluation Unrestricted 2021 2020
funds reserve funds funds Total Total
E'000 E'000 5'000 6'000 F.'000
Group
Intangible
fixed assets		 96 96 85
Tangible fixed assets 92,946 587 93,533 91,359
Investment
properties
Investments		 ''i 5566 3,700
13,959		 15,353 3,700
34,878		 40,450
34,065
Current assets 1,373 26,181 27,554 21,817
Total liabilities ' (1,492) (12,221) (13,713) (14,688)
Total funds 5,447 110,605 29,996 146,048 173,088
Minority Interests (18) (7,072) (7,090) (12,513)
Totalnet assets 5,447 110,587 22,924 138,958 160,575
Institute
Tangible fixed assets 92,945 92,945 90,613
Investment
properties
Investments		 "x 5566 3,700
13,887		 20,772 3,700
40,225		 5,450
39,493
Current assets 1,373 9,089 10,462 6,619
Total liabilities ' (1,492) (8,289) (9,781) (7,340)
Totalnet assets 5,447 110,532 21,572 137,551 134,835

2021 2020
E'000 E'000
Babraham Institute 1,971 1,928
Babraham Institute Enterprise Limited 8 15
Babraham Research Campus Limited 210 209
2,189 2,152

2021 2020
E'000 E'000
Financial assets measured at amortised cost 25,750 20,079
Financial liabilities measured at amortised cost (9,499) (7,407)

At 1April At 31March
2020 Cash flows 2021
E'000 E'000 E'000
Cash and cash equivalents
Cash 15,633 4,449 20,082

Babraham
Research		 Campus Babraham Institute Institute
Ltd Enterprise Ltd
2021 2020 2021 2020
E'000 E'000 E'000 E'000
Income 768 865 967 1,271
Expenditure (1,4791 (1,369) (35) (127)
Debtors at31March 2021
Due within one year 385 390 472 338
Creditors at 31March 2021 (328) (277) (25) (88)