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|CONTENTS||||page||
|---|---|---|---|---|---|
|Directors olid Advisors||||||
|Introduction<br>and Nature ofthe University||||||
|Strategic Report||||||
|Charitable<br>Purpose and Public Benefit|||||13|
|Directors'<br>Report|||||15|
|Corporate Governance|||||IS|
|Independent<br>Auditor's|Report||||23|
|Statement of Principal|Accounting||I'olicies||27|
|Statentent ofContprehensive||Income and Expenditure|||31|
|Statement ofChanges|in Reserves||||32|
|Balance Sheet|||||33|
|Cash Flan Statement|||||34|
|Notes to the Financial|Statements||||35|





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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||6'000|F000|
|Tu ition fees||||||-10.s29|31.341|
|Other Income||||||5.126|s,065|
|Total lncotnc||||||45,655|36,406|
|Staffcosts||||||23.117|18,901|
|Other costs||||||14.728|12,-199|
|Total Eapenditure||||||37,845|31,400|
|Operating<br>sutplus|before|restructuring||costs||7.810|5,006|
|Esceptional<br>restructuring||costs||||||
|Operating<br>sutttlus|before|pension|actuarial||adjustments|7.810|-1.732|
|Pension actuanal|adjustments:|||||||
|—Cun'ent<br>service|costs in excess||ot contributions|||2.790|I 6o2|
|Net interest on|pension|liabilities||||487|368|
|Surplus<br>for the|vear as|per the|Statement||ofComprehensive|||
|income A Expenditure||||||4,533|2,742|



|Cash generation|and liquidity:|2021|2020|
|---|---|---|---|
|||F000|f.'000|
|FBITDA for the|rear|10,865|7,781|
|Operating<br>cash|Ilotv|10,891|5,827|
|Cash and short tenn<br>investments||27,960|19.-17-1|
|Butlou tltgs||(9.188)|(9859)|
|Net fumls||18,777|9,615|





## 

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|||||||lar|ct|Actual<br>2(l 21|Actual|1920|
|---|---|---|---|---|---|---|---|---|---|---|
|I '1311 D. '1||||||ts|On1|t'103)m|f.7|8nl|
|()pcrating|Surplus (cic pension||actuanal|ad)uitmemi)||(2|Om|t'7 am|t-l.|7n1|
|Stall costs|ai a "«ol nac&ane|Ivie penii&ai||actuarial|adjust&ncntsl|ss|0&|6(l.(1"<br>&|i7|70|





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|Greenhouse<br>gas enlissions|Greenhouse<br>gas enlissions|Greenhouse<br>gas enlissions|and energy use data for the period:|2020/21|2019/20|
|---|---|---|---|---|---|
|Energy consunlption||used to calculate emissions (kWh)||8.235.099|8.674,366|
|Energy consumption||break|dolvn (kWh) (optional):|||
|Gas||||6.762.083|6.619.855|
|Electricity||||1,473,016|1.865.623|
|Transport<br>fuel||||6.807|188,888|
|Scope<br>I emissions|in|metric tonnes CO2e;||||
|Gas consumption||||1,239|1.217|
|Olvned<br>transport||||||
|Total scope<br>I||||1,240|1.721|
|Scope 2 emissions|in|metric tonnes CO2e:||||
|Purchased<br>electricity||||313|435|
|Scope 3 emissions|in|metric tonnes CO2e:||||
|Business travel in employee|||olvned vehicles||31|
|Total gross emissions||in metric tonnes CO2e||1.557|1.687|
|hltensltV<br>ratio:||||||
|Tonnes CO2e per member|||ofstaff and students|0.37|0.45|





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## 

|STATEMENT OF|CO|MPREHENSIV|MPREHENSIV|E<br>INCOME AND EXPE|NDITLIRE|||
|---|---|---|---|---|---|---|---|
|For the year ended|31|July 2021||||||
|||||||Year ended|Year ended|
||||||Note|31 July|31July|
|||||||2021|2020|
|INCOME||||||||
|Tuition lees encl|echlcatlon||conti'acts|||J0 779 378|31.340.972|
|Funding<br>bod) grants||||||1.88-1,821|1,147,317|
|Resem'ch grants|and|contracts||||JJ,662|60.68-1|
|Other income||||||3.108,722|3.709,746|
|Investment<br>income||||||87.-161|167.776|
|Donations<br>mid Endolvments||||||||
|Total income||||||-I5.664,674|36N06.443|
|EXPENDITURE||||||||
|Staffcosts|||||7.8|27.907.27-1|21.167,808|
|Other operating|expenses||||8|11.-1-10.772|8.842.937|
|Depreciation|||||8.9|3.01&.709|2.923N8-1|
|Interest and other tinance costs|||||8|778.0-1-1|732.0(-l|
|Total eapemliture||||||-11.121.779|33.661.243|
|Surplus<br>for the year||||||-1.632.896|2.712.200|
|Actuarial<br>gain (loss)||in respect ofpension||||8.811.000|(17.362.000)|
|schemes||||||||
|Total Com prehensive||income I (evpease) for the year||||13.343.896|(12.619.800)|
|Represented<br>by:||||||||
|Unrestricted<br>comprehensive|||income|(espense) for the tern||13.343.897|(12.619.800)|
|||||||13.343.896|(12.619.800)|





## 

|||Income and|Expenditure|Account|Revaluation|Total|
|---|---|---|---|---|---|---|
||||||Reserve||
|||Endontnent|Restricted|Unrestricted|||
|Balance at I August 2019||6.272|318|(6.838.876|rh 1-16.200|20.990.666|
|Surplus<br>ti om<br>income|and|||2.742.200||2.7a2L200|
|expenditure<br>statement|||||||
|Other comprehensive<br>expense||||(15.362.000)||( Is.362.000)|
|Trmtsfer<br>beta een<br>revaluation|and|||21-I.-136|(2-1-1.-136)||
|income<br>mtd expenditure<br>reserve|||||||
|Total<br>comprehensive<br>income||||(12,376.36-1)|(2-l-l.136)|(12.619.800)|
|(espense) for the &ear|||||||
|Balance at I August 2020||6 27o|318|3.-163.612|-1.900.76-1|8.370.866|
|Surplus<br>fiom<br>income|and|||-l,s32 89s||-l.s32.896|
|expenditure<br>statement|||||||
|Other comprehensive<br>expense||||8.811.000||8.811.000|
|Trmtsfer<br>betneen<br>revaluation|mtd|||20-1.086|(20-1.086)||
|income<br>mtd expenditure<br>reserve|||||||
|Total<br>comprehensive<br>iltcoltle||||13.647.981|(20-1.086)|13.313.896|
|(espense) forthe sear|||||||
|Balance at 31July 2021|||318|17.0(1.-193|-1.696.678|21.71-1.761|





||||||Note|31July|31July|
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|NON CURRENT ASSETS||||||||
|Fixed assets||||||38.973.737|39.618,036|
|CURRENT|ASSETS|||||||
|Stock||||||17,483|19,999|
|Trade and other receivables|||||10|3.487.106|2.316.324|
|Investntents|||||II|11,220,269|15.142,118|
|Cash and cash equivalents||||||16.739,639|4,332,062|
|Less:||||||31,464,497|21.810,503|
|Creditors:|amounts<br>falling due tvithin||one|year|12|(6,294,476)|(-1,456,833)|
|NET CURRENT ASSETS||||||25.170,021|17,353,670|
|Total assets less current||liabilities||||6:1.143,758|56.971.706|
|Creditors:|amounts<br>falling due after||more|than one year|13|(12,054.909)|(12,651.192)|
|Provisions|for pensions||||14|(30.374.088)|(35,949.648)|
|TOTAL NET ASSETS||||||21.714.761|8.370,866|
|Restricted|Reserves|||||||
|Inconte and|expenditure|reserve —endotvment||reserve|15|6.272|6.272|
|Income and|expenditure|reserve —restricted||reserve|15|318|318|
|Unrestricted|Reserves|||||||
|Incolne and|expenditure|reserve||||17.011.493|3,463.512|
|Revaluation|reserve||||16|4.696,678|-l.900.764|
|TOTAL RESERVES||||||21,714,761|8.370.866|





## 

|CASH FI.OW STATEMENT<br>For the )ear ended 31 Jul)2021||||||
|---|---|---|---|---|---|
|||||Year ended|Year ended|
|||||31 July|31 July|
|||||2021|2020|
|Cash llo« front operating<br>activities||||||
|Surplus<br>for the year||||4.632.896|2.742.200|
|Adjustment<br>for non-cash<br>items||||||
|Depreciation<br>(note 8)||||3.015.709|2.923.J84|
|Deferred capital grants released to income|(note|2)||(231.607)|(238.638)|
|Decrease '(Increase)<br>in stoch||||2.616|(1.064)|
|(Increasel<br>in debtors||||(1.170.782)|(805.163)|
|Increase'(Decrease)<br>in creditors||||1.318,-166|(960.650)|
|Decrease<br>in provisions||||(-1),660)|(61.972)|
|Cutvent<br>mtd past service cost in escess ofcontributions|||(note 8)|2.790,000|1.622.000|
|Adjustment<br>for investing<br>or financing<br>activities||||||
|Investment<br>income (note 6)||||(87.-161)|(167.776)|
|Interest and other tinance costs (note 8)||||768.0-1-1|732,01-1|
|Loss on «rite-off and disposal of tined assets||||5.096|3th867|
|Net cash inAo« from operating<br>activities||||10.891.316|5.827,123|
|Cash flotvs from investing<br>activities||||||
|Pa) ments<br>made to acquire tjsed assets||||(1.861.811)|(2.181,723)|
|Movement<br>on deposits||||3.921.8-19|(3.103,726)|
|Defetved<br>capital grant receivetl||||o«0.961|Io2.10-1|
|Other interest received||||78.162|139.979|
|||||2.469. 1-11|(-1,993.366)|
|Cash llo«s from financing<br>activities||||||
|Interest paid||||(282.291)|(377,167)|
|Ne« temt<br>loan burro«in<br>s||||||
|Reps) ment ofprevious<br>loan borro«ings||||(670.688)|(670.688)|
|Repayment<br>of Revolvin<br>Green Fund ion|tems|lorn&|||(60.000)|
|||||(962.879)|(1.097.7-16)|
|Increase/(Decrease)<br>in cash in the year (note||17)||12.-107.677|(263.687)|





## 

|ITION|FEES AND|EDUCATION CONTRACTS|||
|---|---|---|---|---|
||||Year emled|Year ended|
||||31July 2021|31July 2020|
||||f.||
|Full-time|home mtd EU students||39.-172.660|30.631.623|
|Full-time|international|students|121,000|72.600|
|Part-time|home and EU students||933,668|736.899|
||||40,629,328|31.340.922|



## 

|NDINO<br>|BODY GRANTS||||||
|---|---|---|---|---|---|---|
||||||Year ended|Year ended|
||||||31 July 2021|31July 2020|
||||DofE|UKRI|Total|Total|
|Recurrent|gt'ant|966.600||I35.810|1.092.-110|809.666|
|Specittc gt|ants|607.636||60.289|660.80-1|99.114|
|Releases ofdet'etued|||||||
|capital gtants.|||||||
|Buildings||231.607|||231.607|238.638|
|Total||1.695.8-12|2.880|186.099|1.88-1.821|1.1-17.317|



|he source ofgrant|and fee incom|e included<br>trithin<br>notes<br>I m|td 2 is as follou s||
|---|---|---|---|---|
||||Year ended|Year emled|
||||31July 2021|31 July 2020|
|Grant income from|the OtS||1.696.8-12|930.102|
|Grant income<br>trom|other bodies||188.979|217.216|
|Fee income tor tau|ht an ards||-10.-122.193|31.297.362|
|Fee income tor research anards|||66.s00|20.200|
|F'ee income trom non-qualifying||courses|60.636|23.370|
||||-12.-11-1.I-I9|3'2.-188.239|



|Research councils|mtd charities|
|---|---|
|Gus ernment||
|Other||



|Year ended|Year emled|
|---|---|
|31July 2021|31 July 2020|
|J2,669|49.713|
|1,993|971|
||60.68-1|





## 

||OTHER INCOME||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||Year ended|Year emled|
||||||||||||31 July 2021|31 July 2020|
||Residences. catering|and||conferences|||||||2.163.695|2.760.628|
||Other income||||||||||9-1J.827|9-19.117|
||||||||||||3,108.522|3.709.745|
|5.|INVFSTMENT INCOME||||||||||||
||||||||||||Year ended|Year ended|
||||||||||||31 July 2021|31 July 2020|
||Incottte lrom short term|||investnlents|||||||87 451|157,775|
|6.|DONATIONS<br>AND|ENDOWMENTS|||||||||||
||||||||||||Year ended|Year emled|
||||||||||||31 July 2021|31 July 2020|
||Linrestncted<br>donations||||||||||||
|7.|STAFF COSTS||||||||||||
||||||||||||Year ended|Year ended|
||||||||||||31 July 2021|31 July 2020|
||||||||||||No|No|
||The avera<br>e number|of persons (includin|||||senior post-holders)||emplo&ed||||
||by the University<br>during|||the|year. expressed||as full-time|equivalents.||uas.|||
||Lecturing<br>staff. holders ofsenior posts. staff paid on academic||||||||scales|mtd|17-1|1-19|
||pm t-time lecturers||||||||||||
||Administrative,<br>professional||||and technical|stat'I|||||253||
||Otlwr||||||||||2J|3|
||||||||||||451|-100|
||||||||||Note||Year ended|Year ended|
||Staff costs for the above persons:||||||||||31 July 2021|31 July 2020|
||Wa es and salaries||||||||||17.789.235|1-1.970.783|
||Social security<br>costs||||||||||1.743.995|1.-166.168|
||Contubutions<br>to pension|||schemes|||||oQ||3 553 593|2.825,456|
||Pension<br>enhancetnent||costs||||||20||25.-131|2 855|
||Restructurin<br>costs||||||||||5.000|278.5-16|
||Sel'vlcc cost tlt caress||ofcontllbutlolts||||||||2.790.000|1.622.000|
||Total||||||||||25.907.25-1|21.165.808|





## 

|||||Year ended|Year ended|
|---|---|---|---|---|---|
|Severance payments<br>included||ivithin staff costs:||31Julv 2021|31 Julv 2020|
|Total severance|mid other compensation||paid|s.000|278.646|
|||||No|No|
|The number of|people that this|relates to||||



|emoluments<br>(escluding<br>pe|nsion<br>contributio|ns)<br>in the I'olloiving<br>ra|nges t\el'e:||
|---|---|---|---|---|
||||Year ended|Year ended|
||||31 July 2021|31 July 2020|
||||No|No|
|8100,001 tol(05.000|||||
|8105.001 to 6110.000|||||
|8120.001 to 8126,000|||||
|813s.001 tof140.000|||||
|f210.001 to %215.000|||||
||||Year emled|Year ended|
|Directors'<br>reniuneration|||31July 2021|31 July 2020|
|Emoluments|||260.839|289.623|
|Pension contributions|||60.660|13.11-1|
||||311.-189|302,737|
|The number ofdirectors|iiho:||Year ended|Year ended|
||||31July 2021|31 July 2020|
||||No|No|
|Are members ofa detined|benetit pension|scheme|||





## 

## 

|Professor|Margaret|House||Year ended|Year ended|Year ended|
|---|---|---|---|---|---|---|
|To31 October 2020||||31|July 2021|31July 2020|
|Salar&|||||-18.712|194.849|
|Bonus|||||||
|Supplement|in lieu ot'pension||contributions||4.280|17.122|
||||||s2 992|211,971|
|Pension contributions|||||||
||||||o2L992|211.971|



|Professor|Professor|Charles Egbu|Charles Egbu||Year ended|Year ended|
|---|---|---|---|---|---|---|
|From|I November||2020||31 July 2021|31 July 2020|
|Salar)|||||138.780||
|Boittts|||||||
|Supplement||in lieu ofpension||contributions|||
||||||138.780||
|Pension|contributions||||32.886||
||||||171,606||



|||Year ended|Year ended||
|---|---|---|---|---|
|Professor Margaret|House|31 July 2021|31 July 2020||
|Basic Salem|||&.9:|I|
|Total Remuneration|||s.8|I|





## 

||Year ended|Year ended|
|---|---|---|
|Professor Charles Egbu|31 July 2021|31 July 2020|
|Basic Sa Iarv|||
|Total Remuneration|id;I||



|||Year ended|Year ended|
|---|---|---|---|
|Key Management|I'ersonnel|31 July 2021|31 July 2020|
|Emoltunents||SJ6.696|666,080|
||||366.080|





## 

|||||||||Interest||Total|Total|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||Other|and other||Year ended|Year ended|
||||||||0Pc I'a 1Illg|finance||31July|31July|
|||Staff costs|Depreciation||||expenses|costs||2021|2020|
|Acmlemic<br>departments||12,49-1,637||30|'773||2.897.636||80|15.-L7'2, «96|17.343.870|
|Acmlemic<br>services||2,603.073||959,60-1|||1.767.70-1|1.-193||«.129,874|-1.533.190|
|Residences<br>mid catering||546.223||-170,389|||794,475|636||1.8 I 1,723|1.915,986|
|Ruse'ircli<br>gl"nits and conn'acts||50.188|||||4.173||1-1|74 37«|116.-1-14|
|Premises||830,879||1.«09.909|||1.031.73-1|||3 377 j77|3.108.358|
|Administration<br>and other||6.592.234||45.584|||7.141.954|268.821||12.0-18.793|9.346.982|
|Eaceptional<br>restructuring|cost||||||||||273.546|
|Loss on iv'off of fined assets|||||||7.096|||5.096|35,867|
|Service cost in eacess of||2.790,000||||||||'2.790,000|1.677.000|
|contributions||||||||||||
|Esceptionaf<br>past service|cost|||||||||||
|Net interest<br>on pension||||||||-187.000||-187.000|368.000|
|liabilities||||||||||||
|Total per income and<br>expenditure<br>account||25.907,27-1||3,017.709|||11.440,772|758.0-1-1||-11.121.779|33.664.243|
|Other operatin<br>expenses|include:|||||||||Year ended|Year ended|
|||||||||||31Julv 2021|31 Julv 2020|
|Estenlal<br>auditor's<br>remuneration||t'or miditing of|the|tinancial||statements||||42.600|34.200|
|Estenial auditor's<br>remuneration||for other assurance||services||||||-1.440|-1.320|
|External auditor's<br>remuneration||for taxation<br>compliance|||services|||||||
|Pasinents<br>under operatin|leases|in respect ofequipment||||||||121,639|134.290|





## 

|TANGI|B|LE F||XEDASSETS||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Furniture,|||
||||||Assets<br>in the|Freehold|cgulpnlcnt,|||
||||||course of|land and|fixtures|Motor||
||||||constl'action|buildings|and fittings|vehicles|Total|
|Cost/valuation||||||||||
|At<br>I August||2020||at cost|882.262|47.947,994|9,997.901|57.558|38.885.715|
|At<br>I August||2020||at valuation||12.355,612|||12.355.612|
|Additions|during|||the year|818,525|483,036|1,07-1.945||2,376.506|
|Completed||during||the year|(882.262)|841.751|40,511|||
|Disposals|during||the year||||(1.8-13.930)||(1,8-13,930)|
|At 31 July||2021|||818.525|61,628.393|9.269,427|57.558|71,773,903|
|At cost|||||818.525|49,272.782|9.269.427|i7,iig|59.418.292|
|At valuation||||||12,355.611|||12.355.611|
|At 31 Julv||2021|||818.525|61,628,393|9,269,-127|57 558|71 773 903|
|Accumulated<br>depreciation||||||||||
|At<br>I August||2020||||2-1.349,907|7,226,925|-16.-159|31.623.291|
|Charge<br>t'or||the year||||1.933.878|1.07-1.98-1|6.8-17|3.015.709|
|Disposals|||||||(1.838.83-1)||(1.838.834)|
|At 31 Julv||2021||||26.283.785|6.-163.075|53.306|32,800.166|
|Net book|value|||||||||
|At 31 Julv||2021|||818.525|35.344.608|2.806.352|4.252|38.973.737|
|At 31 July||2020|||882.262|35.953.699|2,770.977|11,098|39.618.036|



## 



## 

|10.|TRADE AND OTHER RE|CEIVABLES|||
|---|---|---|---|---|
||||31 July 2021|31July 2020|
||Amounts<br>falling due tvithin|one year:|||
||Tmde debtors||2.274,909|1.083.699|
||Prepaytnents<br>and accrued income||1.212.197|732 626|
||||3.487,106|2.316.324|
|11.|INVESTMENTS||||
||||31 July 2021|31July 2020|
||Deposits maturing:||||
||In one yew' or less||11,220.269|Irh142. 118|



## 

|CREDIT|ORS: AM|OUNTS|FA|LLING DUE WITHIN ON|E YEAR||
|---|---|---|---|---|---|---|
||||||31 Julv 2021|31 Julv 2020|
|Trade creditors|||||1.09s.-l 10|1,12-1.688|
|Bank loan|repayable|in less|than|one|670.688|670.688|
|Pat ments|received|in advance|||203.-107|67 2/2|
|Social security<br>and||other taxation||pat able|-169.-196|406.340|
|Pensions|mtd similar obligattons|||||36J.731|
|Det'erred|capital grants||||731,607|206.669|
|Accruals|and other|deferred|income||I928 oJr)|1.613.037|
|Amounts|otving to|Rmdin|councils||283.-188|128.738|
||||||6.29-1.J76|J.-I66,833|



## 

|CRFDITORS: AMOUNTS<br>FALLING DUE AF|TER MORF THAN ONE YEAR||
|---|---|---|
||31 July 2021|31 Julv 2020|
|Bank loan|8.6<br>17.6-18|9.188.236|
|Deferred capital grants|3.637.26 1|3,462,966|
||12.06-1.909|12.661.192|





## 

## 

|The banl' loans are repayable|as folio«s:|31 July 2021|31 July 2020|
|---|---|---|---|
|Due «ithin<br>one sear||670.s88|670,588|
|Due bet«een<br>one and t«o<br>& ears||670.688|670.s88|
|Due bet«een t«o mtd tive sears||6.247,060|6,717.648|
|Due in ltve sears or more||1.600.000|1.800,000|
|Due alter more than one vear||8.617.6-18|9.188.236|
|Total banl<br>loans||9.188,236|9.868,824|
|All banl<br>lomts are unsecured.||||



## 

||||||Defined benefit|Pension|Total|
|---|---|---|---|---|---|---|---|
||||||provision<br>under|eIIIIaIICeateItI||
||||||FRSI02|||
||||||||f.|
|At|I August 2020||||35.667.000|392.6-18|35.949.6(8|
|Utilised||in|& ear|||(-17,967)|(-17.967)|
|Transfer||from income mtd expenditure||account||6.-107|6.q07|
|Current||service cost in excess ot'contnbutions|||2.790.000||2.790,000|
|Net|mterest||on liabilities||487.000||-187,000|
|Actuarial||gain|||(8.811.000)||(8.811.000)|
|At|31 Jul&||2021||30.023.000|3s1.088|30.374.088|





## 

|||Restricted|permanent|Espendable|2021 Total|2020 Total|
|---|---|---|---|---|---|---|
||||endottments|Fndosvments|||
|Balances at|I August||||||
|Capital|||318|6.272|6.590|6,590|
|Ness endotvments|||||||
|Investnlent<br>0'Iconle|||||||
|Expenditure|||||||
|At 31Jub|||318|l7o|6.590|6,590|
|Represented|by||||||
|Cash|||318|6.272|6.590|6.590|
|Analysis<br>by|type of purpose||||||
|Scholarships|and bursm ies||318|4.965|5,283|5 283|
|Prize t'unds||||1.307|1.307|1,307|
||||318|o72|6.590|6,590|



## 

||||||2021|2020|
|---|---|---|---|---|---|---|
|At<br>I August|||||-1.900.76-l|5.1-15.200|
|Transfer<br>from|revaluation|reserve to|eneral reserve|in respect ot'I|||
|Depreciation|on revalued|assets|||(20J.086)|(2J-I,436)|
|At 31July|||||-1.696.678|4.900.76-1|





## 

||||At 31July||At 31 July||
|---|---|---|---|---|---|---|
||||2020|Cash flous|2021||
||Cash at banh and in hand||-1.332.062|12.407.577|16.739,639||
||Cun'ent<br>asset investments||15.142,118|(3,921,8eo)|11.220.269||
||Total short tenn funds||19.-174,180|8.J85.728|27.959,908||
||Debts due tv)thin one &ear||(670.588)||(670,588)||
||Debts due after one year||(9.188.236)|670.588|(8.517,6J8))||
||Total||9,615,356|9.156.316|18.771.672||
|18.|LEASE OBLIGATIONS||||||
||Rentals payable<br>under operating|leases|||31 July 2021|31 July 2020|
||Future minimum<br>lease pa&ments|due:|||||
||Due nithin<br>one &ear||||67.338|-1-1,895|
||Due betneen tno and ttve &ears||||||
||Due in ttve Years or more||||||
||Total lease payments<br>tlue||||67.338|-1-1,895|



## 

||||31|July 2021|31July 2020|
|---|---|---|---|---|---|
|Commitments|contracted|for||(.378.477|J)I.J32|





## 

## 

|TO THE FINANCIAL<br><br> vear ended 31 Julv 2021<br>PENSION SCHEMES|TO THE FINANCIAL<br><br> vear ended 31 Julv 2021<br>PENSION SCHEMES|TO THE FINANCIAL<br><br> vear ended 31 Julv 2021<br>PENSION SCHEMES|STATEMENTS|STATEMENTS|STATEMENTS|||||
|---|---|---|---|---|---|---|---|---|---|
|The ttvo pension<br>schemes|||for the Universit& 's staff are the|||Teachers'|Pension Scheme (TPS)for academic<br>stat't'|||
|and the Local Government|||Pension|Scheme administered||b& the West Yorkshire||Pension<br>Fund (WYPF) I'or||
|support<br>statT.||||||||||
|The total pension cost||for|the Universit&||uas:|||||
|||||||||Year ended|Year ended|
|||||||||31 July 2021|31July 2020|
|Contributtons|to TPS|||||||1.975.800|(.534.915|
|Contributions|to WYPF|||||||1.577.793|1,290,541|
|||||||||3,553 593|2,825n456|
|Pension<br>enhancements||costs||||||25.431|2,855|
|Service cost|in excess|of|contributions|||||2,790.000|1,622.000|
|Exceptional|past service||cost|||||||
|Net interest on pension||liabilities||||||-187.000|368,000|
|Total pension|cost|||||||6.856.024|-1.8 18.3 I<br>I|



## 

## 



## 

|e materia|l<br>assump|tions<br>used by the actuary<br>t'or I-RS102|at 31 July<br>021 were.||
|---|---|---|---|---|
||||31July|31 July|
||||2021|2020|
|Rate of|increase|in salaries|3.87'0|3 55',|
|Liability|discount|rate|1.7'0|I J00|
|Inflation|assumption||7 60|30|



|e assume|d<br>lit'e expectations<br>on retirement<br>at age 65|are:||
|---|---|---|---|
|||31July|31 July|
|||2021|2020|
|Reiirmy|rorRn|||
|Males||21.9||
|Females||2-1.7||
|Reiirmp|in2 0Juuri|||
|Males|||77|
|Females|||77 7|



|The asset allo|cation<br>ot'the detined<br>benetit<br>scheme|is shown<br>below:||
|---|---|---|---|
|||31 July 2021|31 July 2020|
|Value||OOOO|J."000|
|Equities||-lb.819|31.956|
|Properq||1.883|1,768|
|Government|Bonds|-1,17J|-1.113|
|Other Bonds||2.2-10|7.056|
|Cash 'liquidity||1.120|658|
|Other||662|576|
|Total||70.898|41,127|



## 

||||||
|---|---|---|---|---|
|Analysis ofthe amount<br>shown<br>in||the balance sheet|31July|31 July|
||||2021|2020|
||||K'000|J."000|
|The Universtt) 's estimated|asset share||50.898|41.127|
|Present value ofthe University 's Scheme liabilities|||(80.921)|(76.681)|
|Deticit in the Scheme<br>—Net|pension|liability|(30.023)|(35,777)|





|Analysis|ofthe|antount||charged|charged|to|staff|costs nithin|operating|surplus|2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||l'000|g'000|
|Cun ent|service|cost|||||||||(-I,3-I2)|('2.913)|
|Past service cost||||||||||||(61)|
|Total operating||charge|||||||||(4.3-12)|(2,974)|
|Analysis|ofantount<br>that||||is charged||to other finance costs||||2021|2020|
||||||||||||E'000|8'000|
|Interest|income|on pension|||scheme assets||||||58 l|t)02|
|Interest|on pension scheme||||liabilities||||||(1.069)|(1,270)|
|Net char|e||||||||||(-187)|(368)|
|Analysis|ofthe|antount||recognisable|||in|the Statement|ofComprehensive||2021|2020|
|income|an&i Expenditure||||(SOCI)||||||f'000|0'000|
|Actuarial|ain|(loss) recognised||||in SOCI|||||8.811|(15.362)|
|Net<br>ain|(loss)||||||||||8.811|(15,362)|
|Analysis|ofthe|movement|||in the|present||value ofthe|scheme|liabilities|2021|2020|
||||||||||||8'000|Z'000|
|At beginning<br>ot'sear|||||||||||76.684|60.708|
|Current|service|cost|||||||||-1.3-12|2.913|
|Interest|cost||||||||||1.069|1.270|
|Contributions<br>b) scheme||||participants|||||||569|501|
|Actuarial|(losses)<br>ains||||||||||(46-1)|12.210|
|Benetits|paid||||||||||(1.279)|(979)|
|Past service cost||||||||||||61|
|At end of) e'll'|||||||||||80.921|76.684|
|Analvsis|ofthe|movement|||in the|market||value ofthe|scheme|assets|2021|2020|
||||||||||||000|K'000|
|At beginning<br>ot'year|||||||||||-11.127|42.503|
|Expected rate ofreturn|||on||scheme|assets||||||902|
|Actuarial|gains|(losses)|||||||||8.3-17|(3.152)|
|Contribution<br>bx||emplo)|er||||||||I 552|1,352|
|Contribution<br>b)||scheme||participmsts|||||||569|501|
|Benettts|paid||||||||||(1.279)|(979)|
|At end ot') ear|||||||||||50.898|-11.127|





## 

## 

## 

## 

||||Year curded|Year curded|31 July|||
|---|---|---|---|---|---|---|---|
||||2021|2020|2019|2018|2017|
||||OOOO|8'000|t'000|K'000|8'000|
|Funded|||(80.866)|(76.620)|(60,639)|(J6,901)|(cdh329)|
|Unfunded|||(55)|(6()|(69)|(72)|(79)|
|Fair value ofscheme assets|||50,898|J(.127|-12.503|37.0J6|33.882|
|Deticit in the scheme|||(30,023)|(35.557)|(18.205)|(9,927)|(10,526)|
|Actuarial<br>ain on scheme||assets||||||
|Amount(X'000)<br>Percentage ofScheme|assets||8.3J7<br>16qo|(3,152)<br>(77o)|2.752<br>65o|907<br>2.qo|2.639<br>78o|
|Total amount recogttised||in SOCI||||||
|Amount (C000)|||8.811|(15,3621|(6.J16)|(1.606)|(4.983)|
|Percentage ofpresent|value ofscheme liabilities||109 o|200<br>0|10.7<br>0|3.J<br>0||



## 

## 

## 

## 



## 

|slllltto at'ise|d be)|on:||||
|---|---|---|---|---|---|
|||||Year ended|Year ended|
|||||31July 2021|31July 2020|
|Purchases|from|Yorkshire|Universities|7.610|9.006|



|as summari|sed<br>|belotv:||||
|---|---|---|---|---|---|
|||||Year ended|Year ended|
|||||31July 2021|31July 2020|
|Purchases|from|Leetls|Learning|600||
|Alliance||||||



|smsunarised|belo|\r:|||
|---|---|---|---|---|
||||Year ended|Year ended|
||||31 July 2021|31July 2020|
|Subvention|paid|to LTSU|192.000|192.000|
|Other pas|ments|to LTSU|67.888|110,176|
||||269.888|302.176|





## 

|||||||Year ended|Year ended|
|---|---|---|---|---|---|---|---|
|||||||31July 2021|31July 2020|
|Sponsorship|ot|the|diocese|junior|choir|9,600|19.000|



## 

## 

## 

||||31July 2021|31 July 2020|
|---|---|---|---|---|
|Funds received|||3.676.700|3.481.200|
|Disbursed|to students||J,s36.900|3.JSS,200|
|Balance|unspent|at 31 Juh|1-10.800|26.000|





## 

## 

|ACCESS|AND PARTICIPATION|||
|---|---|---|---|
|||31July 2021|31July 2020|
|Access Investment||1.390,133|1.216,925|
|Financial|Support|1,055,436|623,794|
|Disability|Support|150,592|134.767|
|Research|and Evaluation|||
|||2,596,161|1.995,486|