Hartpury Annual Report July 2025

Hartpury University Annual Report and Financial Statements > 2024/2025

Notes to the Financial Statements (continued) Year Ended 31 July 2025

(b) Finance Leases

The net finance lease obligations to which the institution is committed are:

Group 2025 University 2025

Group 2024 University 2024

£

£

£

£

204,330

204,330

In one year or less

239,381

239,381

160,279

160,279

Between two and five years

364,608

364,608

-

-

In five or more years

-

-

364,609

364,609

Total

603,989

603,989

Finance lease obligations are secured on the assets to which they relate.

16. Provisions

Group and University

Total £

Enhanced pensions £

80,516

At 1 August 2024

80,516

(7,448)

Expenditure in the period

(7,448)

-

Additions in the period

-

895

Actuarial gains

895

At 31 July 2025

73,963

73,963

This enhanced pension provision relates to the cost of staff who have already left the Group’s employ. This provision has been calculated in accordance with guidance issued by the ESFA and its successor organisations. The principal assumptions for this calculation are:

2025

2024

2.70%

Price inflation

2.80%

5.50%

Discount rate

4.80%

17. Cash and cash equivalents

At 31 July 2025

At 1 August 2024

Cash flows

Other Changes

£

£

£

£

6,589,133

Cash and cash equivalents

7,144,587

(555,454)

-

-

Overdrafts

-

-

-

6,589,133

7,144,587

(555,454)

-

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