Keele University
Notes to the Accounts For the year ended 31 July 2021
15 Non-Current Investments
Consolidated
Keele Residential Fund ( see 15a ) ( see 15b ) ( see 15c ) ( see 15d )
Stanhope Capital
Nat West Guaranteed Investment
Subsidiary companies
Investment in spinouts
Other fixed asset investments
Total
£’ 000 £’ 000 £’ 000 £’ 000 £’ 000 £’ 000 At 1 August 2019 22,399 16,967 - - 82 39,448
Additions |
4,884 |
805 |
- |
- |
- |
5,689 |
Disposals |
( 6,616 ) |
( 2,337 ) |
- |
- |
- |
( 8,953 ) |
Change in market value |
( 62 ) |
- |
- |
- |
- |
( 62 ) |
At 1 August 2020 20,605 15,435 - - 82 36,122
Additions |
2,256 |
730 |
- |
- |
- |
2,986 |
Disposals |
( 12 ) |
( 2,795 ) |
- |
- |
- |
( 2,807 ) |
Change in market value |
3,052 |
- |
- |
- |
- |
3,052 |
At 31 July 2021 25,901 13,370 - - 82 39,353
University
Keele Residential Fund ( see 15a ) |
( see 15b ) |
( see 15c ) |
( see 15d ) |
Stanhope |
Nat West |
Subsidiary |
Investment in |
Other fixed asset |
Total |
Capital |
Guaranteed |
companies |
spinouts |
investments |
|
|
Investment |
|
|
|
|
£’ 000 |
£’ 000 |
£’ 000 |
£’ 000 |
£’ 000 |
£’ 000 |
At 1 August 2019 22,399 16,967 - - 82 39,448
Additions |
4,884 |
805 |
- |
- |
- |
5,689 |
Disposals |
( 6,616 ) |
( 2,337 ) |
- |
- |
- |
( 8,953 ) |
Change in market value |
( 62 ) |
- |
- |
- |
- |
( 62 ) |
At 1 August 2020 20,605 15,435 - - 82 36,122
Additions |
2,256 |
730 |
- |
- |
- |
2,986 |
Disposals |
( 12 ) |
( 2,795 ) |
- |
- |
- |
( 2,807 ) |
Change in market value |
3,052 |
- |
- |
- |
- |
3,052 |
At 31 July 2021 25,901 13,370 - - 82 39,353
15 ( a ) Keele Residential Fund Investments
The Keele Residential Fund investments relate to monies generated from the financial restructuring deals in 1999 and 2007 , and can be categorised as follows :
Stanhope Capital Investment Funds and Refurbishment Funds
The strategic asset investment funds are an overall fund managed by Stanhope Capital on behalf of the University . The fund is held over a variety of different investments . Where an element of the fund is held in liquid assets , this is shown as cash and cash equivalents with the rest shown as non-current asset investments above . All of the investments are shown at market value , as provided by the Investment managers , with any changes in market value being adjusted for in the Statement of Comprehensive Income and Expenditure .
National Westminster Bank plc ( Nat West ) Guaranteed Investment Contract
The Nat West Guaranteed Investment Contract is a separate fixed interest cash account against which a specified annual amount is drawn down by the University to use for the Halls of Residence refurbishment works . The ability of the University to draw down against the profile is subject to confirmation by Keele Residential Funding plc , and the final draw down is in 2029 when the balance in the account will be £ nil . The whole of the Guaranteed Investment Contract is included in fixed asset investments .
52