Financial Statements 2011 - Royal Holloway, University of London

Notes to the Financial Statements(continued)24 Reconciliation of Consolidated Operating Surplusto Net Consolidated Cash Inflow from Operating Activities2010/11 2009/10£000 £000Surplus before tax on continuing activities 6,636 5,937Depreciation (note 13) 11,540 10,864Deferred capital grants released to income (note 18) (4,136) (3,952)Loss on disposal of fixed assets (note 13) 531 -Endowment and Investment income (note 6) (1,562) (1,409)Interest payable (note 10) 2,221 2,314Decrease / (increase) in stocks 31 (47)(Increase) in debtors (1,906) (889)(Decrease)/increase in creditors (excluding loans) (1,888) 6,363Elimination of general reserves on deemed disposal (note 30) (860) -10,607 19,18125 Returns on Investments and Servicing of FinanceIncome from endowments (note 19) 971 854Other interest received (note 6) 591 555Interest paid (note 10) (2,221) (2,314)(659) (905)No interest paid has been capitalised in the year (2009/10 nil).26 Capital Expenditure and Financial InvestmentPayments to acquire tangible assets (note 13) (10,172) (7,844)Payments to acquire endowment asset investments:- Additions and income (note 14) (28,304) (7,499)- Cash outflow (note 14) (1,864) (149)Total payments to acquire fixed and endowment asset investments (40,340) (15,492)Receipts from sales of endowment asset investments (note 14) 28,140 7,368Deferred capital grants received (note 18) 3,615 3,488Endowments received (note 19) 77 89Capital withdrawn (note 19) (10) -(8,518) (4,547)34