Annual Report and Accounts 2024 - 2025 - Annual accounts

Income

Income from contracts

2

54,182

50,338

Other income

3

1,208

1,052

Total operating income

55,390

51,390

Expenditure

Staff costs

4

(73,112)

(69,217)

Depreciation

9

(6,066)

(5,246)

Profit/(loss) on disposal of assets

9

(122)

(12)

Other operating charges

5

(25,537)

(22,588)

Total operating expenditure

(104,837)

(97,063)

Net operating expenditure

(49,447)

(45,673)

Finance income

6

1,152

277

Finance expenses

7

(101)

(85)

Net expenditure for year

(48,396)

(45,481)

Other comprehensive expenditure

Net (loss)/gain on revaluation of property, plant and equipment

9

1,008

280

Actuarial gain/(loss) on pension scheme

17

(21,242)

20,088

Comprehensive net (expenditure)/income for the year

(68,630)

(25,113)

Property, plant and equipment

9

42,075

42,377

Intangible assets

9

4,027

2,402

Assets under construction

9

2,380

2,807

Employee retirement benefits

17

0

21,527

Trade and other receivables

11

232

225

Total non-current assets

48,714

69,338

Current assets

Trade and other receivables

11

5,029

3,964

Cash and cash equivalents

10

2,346

899

Total current assets

7,375

4,863

Total assets

56,089

74,201

Current liabilities

Trade and other payables less than 1 year

12

(13,683)

(11,206)

Provisions for liabilities and charges less than 1 year

14

(231)

(213)

Future lease payments

16

(1,306)

(1,321)

Total current liabilities

(15,220)

(12,740)

Total assets less current liabilities

40,869

61,461

Non-current liabilities

Provisions for liabilities and charges greater than 1 year

14

(6,059)

(6,023)

Future lease payments

16

(5,475)

(6,560)

Total non-current liabilities

(11,534)

(12,583)

Total assets less total liabilities

29,335

48,878

Taxpayers’ equity

Comprehensive net expenditure reserve

10,295

30,544

Revaluation reserve

19,040

18,334

Total taxpayers’ equity

29,335

48,878

Net operating expenditure

(49,447)

(45,673)

Adjustments for non-cash transactions

Depreciation/impairment and amortisation 

9

6,066

5,246

Loss/(gain) on disposal of assets

9

122

33

Pension scheme adjustment

17

1,296

137

Movement in provisions

14

(42)

(261)

Movements in working capital

Decrease/(increase) in trade and other receivables

(1,082)

(257)

(Decrease)/increase in trade and other payables

2,696

821

Net cash outflow from operating activities

(40,391)

(39,954)

Cash flows from investing activities

Purchase of non-current assets

(5,128)

(4,732)

Proceeds from disposal of non-current assets

21

21

Net cash outflow from investing activities

(5,107)

(4,711)

Cash flows from financing activities

Bank interest received

6

141

202

Lease liability payments

(1,432)

(1,677)

Grant in aid revenue funding received in year

18

42,739

40,860

Grant in aid capital funding received in year

18

5,497

5,350

Net cash inflow from financing

46,945

44,735

Net (decrease)/increase in cash and cash equivalents

1,447

70

Less cash and cash equivalents at start of year

10

899

829

Cash and cash equivalents at end of year

10

2,346

899

(Decrease)/increase in cash for the year

1,447

70

Balance at 1 April 2024

30,544

18,334

48,878

Grant from sponsoring department

18

48,236

0

48,236

Net expenditure for the year

(48,396)

0

(48,396)

Total of pension re-measurements

17

(21,242)

0

(21,242)

Disposal of assets

9

145

(145)

0

Revaluation of non-current assets

9

1,008

851

1,859

At 31 March 2025

10,295

19,040

29,335

Balance at 1 April 2023

9,359

18,419

27,778

Grant from sponsoring department

18

46,210

0

46,210

Net expenditure for the year

(45,481)

0

(45,481)

Total of pension re-measurements

17

20,088

0

20,088

Disposal of assets

9

88

(88)

0

Revaluation of non-current assets

9

280

3

283

At 31 March 2024

30,544

18,334

48,878