Financial Statements 2011 - Royal Holloway, University of London

Notes to the Financial Statements(continued)17 Creditors: Amounts Falling Due After More than One Year (continued)At the balance sheet date the College had committed to loan facilities totaling £59,455k of which £59,141k had been drawn down.The College had interest rate swaps and an interest rate cap to reduce its variable interest rate exposure on these loans to thefollowing extent:Terms: Amount Rate Expiry£000 %Effective at the balance sheet date:Swaps: 10,000 5.49 3 December 20125,000 4.48 1 September 2026 (option for bank to terminate in 2016)5,000 4.815 1 September 20175,000 4.8175 1 September 20195,000 4.65 1 September 20225,000 4.55 1 September 20275,000 4.88 1 September 2029Cap: 10,000 6.00 1 December 201450,000Effective after the balance sheet date:Swaps 10,000 4.82 1 December 2024 (effective 3 December 2012)18 Deferred Capital GrantsConsolidated and CollegeFundingCouncilOther Grants andBenefactionsTotal£000 £000 £000At 1 August 2010Buildings 23,943 927 24,870Equipment 3,976 166 4,142Total 27,919 1,093 29,012Grants receivableBuildings 1,601 4 1,605Equipment 1,884 126 2,010Total 3,485 130 3,615Release to income and expenditure for yearBuildings (notes 2 and 5) (2,384) (60) (2,444)Equipment (notes 2, 4 and 5) (1,444) (248) (1,692)Total (3,828) (308) (4,136)At 31 July 2011Buildings 23,160 871 24,031Equipment 4,416 44 4,460Total 27,576 915 28,49130The release of Other Grants and Benefactions for the year was £231k to Research Grants and Contracts (note 4) and £77k toOther Income (note 5).