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Finance record 2018/19 - Tables 1 to 4: Guidance related to the consolidated financial statements

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Version 1.0 Produced 2019-09-20

Contents:

The figures included in Tables 1 to 4 must be identical to the HEP's audited/published financial statements.

Due to the considerable changes to the Tables due to new accounting practices from 2015, HEPs are advised to see the FE/HE SORP (2015) for further details.

Table 1 - Consolidated statement of comprehensive income and expenditure

  1. Table 1 is a consolidated statement of comprehensive income and expenditure account in the financial statements.
  2. Where 'material' items have been disclosed as additional lines on the face of the published accounts, this item must be incorporated within the appropriate Head in Table 1. In addition, such items must be disclosed separately in Table 10.
  3. Table 3 - Consolidated balance sheet

  4. Table 3 is the consolidated balance sheet in the financial statements, with some additional detail.
  5. Head 2f Other (e.g. assets for resale) is included for anything else that is a one-off and is not covered by the other current assets heads, for example assets for resale.
  6. The split for Head 3 (Creditors - amounts falling due within one year) is included for use by Funding Councils. This differs slightly from Note 22 in the Model Financial Statements.
  7. The split for Head 7 (Creditors - amounts falling due after more than one year) is also included for Funding Councils. This differs slightly from Note 23 in the Model Financial Statements.
  8. Table 3 Scotland - Investments and cash

  9. This table is for providers in Scotland only. This split for investments and cash is required by the Scottish Funding Council.
  10. For HEPS in Scotland, Table 3 Scotland will automatically populate Head 2c (Investments) and Head 2d (Cash and cash equivalents) in Table 3 UK.
  11. Investments

    Sub-head 1a (Funds, from disposal of fixed assets, held for future fixed asset acquisitions)

  12. Include here the investment funds arising from sale proceeds which are being held pending re-investment in fixed assets.
  13. Sub-head 1b (Funds held for third parties)

  14. This includes investment funds held on behalf of third parties.
  15. Sub-head 1c (Student support funds)

  16. This includes investment funds which comprise funds held for student support including bursary, discretionary and childcare funds.
  17. Sub-head 1d (Other restricted funds)

  18. This includes investment funds which have a restriction relating to the use of funds.
  19. Sub-head 1e (Unrestricted funds)

  20. Investment funds which have no restrictions on use and are not held for a third party.
  21. Cash and cash equivalents

    Sub-head 2a (Funds, from disposal of fixed assets, held for future fixed asset acquisitions)

  22. Include here the cash held from sale proceeds which are being held pending re-investment in fixed assets.
  23. Sub-head 2b (Funds held for third parties)

  24. This includes cash held on behalf of third parties.
  25. Sub-head 2c (Student support funds)

  26. This includes cash which is being held for student support including bursary, discretionary and childcare funds.
  27. Sub-head 2d (Other restricted funds)

  28. This includes cash which has a restriction relating to the use of funds.
  29. Sub-head 2e (Unrestricted cash)

  30. Cash which has no restrictions on use and is not held for a third party.
  31. Table 4 - Consolidated statement of cash flows

  32. Table 4 is a consolidated statement of the cash flows in the financial statements. This table is intended to show the increases or decreases in net cash and cash equivalents. Where there are currency exchange rate differences that have been recognised on the statement of cash flows, these should be shown in Table 4, Head 2n.

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