## ## ## ## ## ## ## |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)| ## ## ##