Glasgow Metropolitan College
BALANCE SHEET
Actual
2008-09
Forecast
2009-10
Forecast
2010-11
Forecast
2011-12
Forecast
2012-13
£000 £000 £000 £000 £000
Fixed assets a) Land and buildings 29,049 30,978 30,612 30,246 29,880
b)
Equipment 1,805 2,190 2,206 2,222 2,238
c)
Investments 1 1 1 1 1
d)
Other 0 0 0 0 0
Total Fixed Assets 30,855 33,169 32,819 32,469 32,119
Endowment Assets 0 0 0 0 0
Current assets a) Stocks 18 18 18 18 18
b) Assets for resale 0 0 0 0 0
c)
Debtors 1,392 1,392 1,400 1,400 1,400
d)
Investments 9,000 9,000 9,000 10,000 10,000
e) Cash at bank and in hand 1,391 1,425 1,953 1,213 1,436
Total current assets 11,801 11,835 12,371 12,631 12,854
a) Loans and overdrafts 0 0 0 0 0
Creditors: amounts falling due
within one year b) Obligations under finance leases 0 0 0 0 0
c) Payments received in advance 0 0 0 0 0
d)
Trade
creditors 773 700 700 700 700
e) Taxation and social security 396 400 400 400 400
f) Accruals and deferred income 1,360 1,130 1,200 1,200 1,200
g) Amounts owed to SFC 0 0 0 0 0
i)
Other
creditors 328 326 330 330 330
Total creditors < 1year 2,857 2,556 2,630 2,630 2,630
NET CURRENT ASSETS/LIABILITIES 8,944 9,279 9,741 10,001 10,224
TOTAL ASSETS LESS CURRENT LIABILITIES 39,799 42,448 42,560 42,470 42,343
a) Local authority loans 0 0 0 0 0
b) Bank loans 0 0 0 0 0
Creditors: amounts falling due
after more than one year
c) Obligations under finance leases 0 0 0 0 0
e) Amounts owed to SFC 0 0 0 0 0
f)
Other
creditors 0 0 0 0 0
Total creditors >1 year 0000 0
Provisions a) Early retirement provision 1,296 1,221 1,146 1,071 996
b)
Other 0 0 0 0 0
Total provisions 1,296 1,221 1,146 1,071 996
NET ASSETS (excluding pension asset/(liability) 38,503 41,227 41,414 41,399 41,347
Net pension asset/(liability) (3,586) (3,817) (3,817) (3,817) (3,817)
NET ASSETS (including pension asset/(liability)) 34,917 37,410 37,597 37,582 37,530
Appendix 6: Financial Projections
104