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City of Glasgow College Annual Report & Accounts 2020-21
CITY OF GLASGOW COLLEGE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 12 MONTHS ENDED 31 JULY 2021
16 TANGIBLE FIXED ASSETS
Land and
Buildings Equipment Total
£000 £000 £000
Cost or Valuation
At 1 August 2020 190,532 27,100 217,632
Additions - 2,407 2,407
Disposals - (132) (132)
Revaluation 44,515 - 44,515
At 31 July 2021 235,047 29,375 264,422
Depreciation
At 1 August 2020 4,557 24,148 28,705
Charge for period 3,975 1,270 5,245
Disposals - (132) (132)
Write back on revaluation (392) - (392)
At 31 July 2021 8,140 25,286 33,426
Net book value at 31 July 2021 226,907 4,089 230,996
Net book value at 1 August 2020 185,975 2,952 188,927
Represented by:
Inherited 10,204 - 10,204
Financed by capital grant 5,193 2,423 7,616
Other 211,510 1,666 213,176
At 31 July 2021 226,907 4,089 230,996
The College's land and buildings were subject to an independent valuation performed by Avison
Young , Chartered Surveyors at 31 July 2021 for the Charles Oakley building, Riverside campus
and City campus. The basis of valuation identified in the valuation was Depreciated Replacement
Cost (as defined by the Statements of Asset Valuation Practice and Guidance notes issued by
the Royal Institution of Chartered Surveyors) for the Charles Oakley Building. The Valuation for
Riverside and City campuses was updated by Avison Young by applying an indexation uplift
based on market conidtions to the full valuation carried out in 31 July 2019. Allan Glen's and St
David's land has been valued on an existing use valuation basis.