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

The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are:

At 31 July 2025

At 31 July 2024

Years

Years

Retiring today

22.1

Males

21.9

24.3

Females

24.3

Retiring in 20 years

21.9

Males

21.7

25.5

Females

25.5

Fair Value at at 31 July 2025 £’000

Fair Value at 31 July 2024 £’000

33,446

Equity instruments

28,924

10,974

Debt instruments

9,942

6,794

Property

5,875

1,045

Cash

452

Total fair value of plan assets

52,259

45,193

Actual return on plan assets

1,810

2.083

The amount included in the Statement of Financial Position in respect of the defined benefit plan is as follows:

2025 £’000

2024 £’000

52.259

Fair value of plan assets

45,193

(52,259)

Present value of plan liabilities

(45,193)

Net pensions (liability)/asset

-

-

Amounts recognised in the Statement of Comprehensive Income in respect of the plan are as follows:

2025 £’000

2024 £’000

Amounts included in staff costs

1,926

Current service cost

1,973

-

Past service cost

-

Total

1,926

1,973

Amounts included in investment income

19

16

Net interest income

19

16

66