Keele statement of accounts 20/21 | Page 61

Statement of Accounts 2020 / 21
Notes to the Accounts Notes to to the the Accounts For the year ended 31 July 2021 For For the the year ended 31 31 July 2021
29 29 Contingent liabilities ( ( continued ) )
The NHS Pension Scheme operates a a “ “ Scheme Pays ” ” and for for 2019 / 20 / 20 the the government put put in in place an an allowance compensation scheme for for that year . . This guaranteed that any any annual allowance tax tax charge for for eligible clinicians will will be be compensated at at the the time of of retirement , , with the the additional pension obligation falling on on the the employer but but an an equal amount of of funding being “ “ guaranteed ” by ” by the the government . . During the the year , 3 , 3 people on on the the Keele payroll signed up up to to the the NHS Scheme Pays 2019 / 20 / 20 allowance compensation scheme and a a further 11 after the the year end . .
30
30 Leases ( a () a )
Lease commitments
Total rentals payable under operating leases : :
Consolidated
31
31 July 2021
31
31 July 2020
Land and
Buildings
Equipment leases
Land and
Buildings
Equipment leases
£’
£’ 000
£’
£’ 000
£’
£’ 000
£’
£’ 000
Payable during the the year
-
-
179
-
-
212
Future minimum lease payments due : : Not
Not later than 11 year
-
-
161
-
-
161
Later than 11 year and not not later than 55 years
-
-
40
40
-
-
202
Later than 55 years
-
-
-
-
-
-
-
-
Total lease payments due
-
-
201
-
-
363
University
31
31 July 2021
31
31 July 2020
Land and
Buildings
Equipment leases
Land and
Buildings
Equipment leases
£’
£’ 000
£’
£’ 000
£’
£’ 000
£’
£’ 000
Payable during the the year
180
179
129
212
Future minimum lease payments due : : Not
Not later than 11 year
180
161
131
161
Later than 11 year and not not later than 55 years
793
40
40
537
202
Later than 55 years
218
-
-
277
-
-
Total lease payments due
1,191
201
945
363
The equipment relates to to a a contract that the the University has has in in place for for multifunctional printing devices . .
The land and buildings relate to to a a lease that the the University has has with Keele University Science and Business Park Limited for for the the lease of of part of of the the
Sustainability Hub building . .
( b () b ) Lessor disclosures
Total rentals receivable as as lessor : :
31
31 July
2021
31
31 July
2020
£’
£’ 000
£’
£’ 000
Future minimum lease receipts due : : Not
Not later than 11 year
4,767
4,651
Later than 11 year and not not later than 55 years
20,290
19,795
Later than 55 years
146,612
151,873
Total lease receipts due
171,669
176,319
The lease relates to to the the leasehold interest in in the the University Halls of of Residence property held by by KRF Holdings Ltd Ltd . . There are are no no financial restrictions imposed by by the the lease agreement . . There is is no no contingent rent recognised as as income . .
Further details of of the the KRF agreement are are disclosed under note 31 31 ( d (). d ).
61
Page 60 60 of of 69 69