2025
2024
16 Loans (continued)
$000
$000
(iii) Interest expense on current and term loans Interest charge for the year
937
804
Less interest capitalised on the development of the Upper West sports complex
(252)
(777)
Net interest expense
685
27
The entity has a $2m flexi facility (2024 $2m) and a $1m overdraft facility (2024 $1m), secured against commercial and residential real estate. 2025
2024
17 Trade and Other Payables Trade and other creditors
$000
$000
549 842
511
Other payables and accruals Total trade and other payables
1,015 1,526
1,391
2025
2024
18 Deferred Revenue
$000
$000
Revenue received in advance of services provided
4,542 4,542
2,042 2,042
Total deferred revenue
Deferred revenue represents tuition and boarding fees charged in advance of providing the services to which the fees relate. Domestic student fees are invoiced one month in advance and international student fees are invoiced in advance for the full academic year. In 2024 $2.226m of deferred revenue was netted against Receivables and in 2025 the gross values are shown. The change does not materially affect the users of the financial statements.
19 Contingent Liabilities and Commitments
At 31 January 2025 there were no material contingent liabilities (2024 $nil) and no commitments.
Christ’s College Canterbury is an Anglican school and as such falls within the reference of the Royal Commission of Inquiry into Abuse in Care at Faith Based Institutions. Since reaching out to its old boy community, a small number have taken the opportunity to engage with the Board Chair or an Independent Facilitator, or both, to consider their experiences. At balance date, no provision been made in the financial statements. There remains a potential for more old boy survivors to come forward and in particular respond to the Royal Commission's recommendations and seek redress from the College in a variety of forms.
20 Related Party Transactions
There were no related party transactions between the College and the Board of Governors (Board) or Key Management Personnel (KMP) for the year ended 31 January 2025 (2024 $nil). KMP The College classifies its KMP as member of the Board of Governors and senior executive officers, responsible for reporting to the Board. The aggregate remuneration of KMP, determined on a full-time equivalent basis for the Executive and for members of the board receiving remuneration as at year end was:
Remuneration 2025
2024
$000
$000
Chair of Board of Governors
30
35
Senior Leadership Team / Executive
1,647 1,677
1,719 1,754
Total KMP Remuneration
Headcount 2025
2024
Chair of Board of Governors Other Board of Governors
1 7 8
1 7 7
Senior Leadership Team / Executive
16
15
32
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