Annual Report and Accounts 2015-16 | Financial Statements
20. Endowment reserves Restricted net assets relating to endowments are as follows: 2016
2015
Restricted permanent endowments £m
Unrestricted permanent endowments £m
Expendable endowments £m
Total £m
Total £m
63.4 (0.2)
10.9 -
51.0 (11.5)
125.3 (11.7)
106.4 (8.4)
63.2
10.9
39.5
113.6
98.0
1.7 -
-
5.8 -
7.5 -
11.6 0.5
1.0 (1.6)
0.2 (0.3)
0.6 (3.0)
1.8 (4.9)
(0.5) 1.7 (4.5)
(0.6)
(0.1)
(2.4)
(3.1)
(3.3)
5.1
0.9
2.2
8.2
6.8
At 31 July
69.4
11.7
45.1
126.2
113.6
Represented by: Capital Accumulated income
70.2 (0.8)
11.8 (0.1)
59.0 (13.9)
141.0 (14.8)
125.3 (11.7)
69.4
11.7
45.1
126.2
113.6
Balances at 1 August Capital Accumulated income
New endowments Reclassification – capital Reclassification – accumulated income Investment income Expenditure
Increase in market value of investments
2016
Analysis by asset Fixed assets Current liabilities Cash & cash equivalents
2015
Total £m
Total £m
103.9 (0.2) 22.5
96.4 (0.2) 17.4
126.2
113.6
Included within endowments are a number of permanent funds with a deficit of accumulated income as at 31 July 2016. Within unrestricted permanent endowments there are 3 funds with a combined deficit balance of £0.1 million (2015: 3 funds with a deficit totalling £0.1 million). Within restricted permanent endowments there are 66 individual funds with a total combined deficit of £3.6 million (2015: 57 funds with a total combined deficit of £2.9 million). The College monitors funds in a deficit position and takes corrective action to ensure that these funds return to surplus in the medium term.
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