73
City of Glasgow College Annual Report & Accounts 2020-21
CITY OF GLASGOW COLLEGE
NOTES TO THE FINANCIAL STATEMENTS
12 months ended 12 months ended
FOR THE 12 MONTHS ENDED 31 JULY 2021 31 July 2021 31 July 2020
£000 £000
16 TANGIBLE FIXED ASSETS
Initial Cost 156,318 156,318
Cumulative Depreciation (16,221) (12,591)
Revaluation 31,292 20,084
Net Book Value as at 31 July 2021 171,389 163,811
Liability at the start of the year 139,549 144,249
Addition during year - Repayments
in year (5,011) (4,700)
Net Book Value as at 31 July 2021 134,538 139,549
Amount repayable within year 1 5,248 5,011
Amount repayable in more than 1 year 129,290 134,538
Net Book Value as at 31 July 2021 134,538 139,549
Payable in Payable in Payable
1 year 2-5 years
later than 5
years Total
£000 £000 £000 £000
Liability repayments 5,248 23,236 106,054 134,538
Finance charge 12,825 46,063 92,340 151,228
Service arrangements 3,820 18,274 126,163 148,257
21,893 87,573 324,557 434,023
17 INVESTMENTS
INVESTMENTS
Government stock at cost 4 4
The New campus was completed in August 2016, the element of the building and equipment held
under a service concession arrangement at the balance sheet date is as follows :
The value of the liabilities resulting from the service concession arrangement at the balance
sheet date is as follows:
The following table analyses the College's future payments in relation to the service concession
arrangement :