Christ’s College Canterbury
Notes to the financial statements for the year ended 31 January 2026
2026 $000
2025 $000
11 Other Financial Assets and Liabilities
(i) Assets (a) Total non-current financial instruments at fair value (FV) - Managed funds
58,903 61,974
Managed funds decreased from $62m to $59m during the year. The managed fund had positive returns of $7.5m in the year, which was offset by a $8m loan repayment and $2.6m of withdrawals. (ii) Liabilities (a) Total current financial instruments at FV - Interest rate swaps At 31 January 2026, the College had interest rate swap agreements in place with a notional value of $10m (2025: $12m) of which $6m were active (2025: $6m). Interest rate swaps are used to hedge the exposure to changes in the fair value of the secured loans. The decrease in FV of the interest rate swap of $38k (2025: decrease of $76k) has been recognised in unrealised losses from changes in fair value of financial instruments, with a similar change in other financial assets and liabilities.
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12 Investment Property Opening balance
7,650
8,400
Additions
- -
19
Decrease in fair value
(769) 7,650 7,650 7,650
Closing balance
7,650
Non-current assets
7,650 7,650
Total
The fair value of investment properties is determined using a rental capitalisation approach. The most recent independent valuation was performed for the year ended 31 January 2025. Valuations are undertaken by external, independent, qualified property valuers with recent experience in the location and category of the properties being valued.
13 Assets Held for Sale Reconciliation of the carrying amount at the beginning and end of the period: Opening balance
-
6,500
Property settlements
- (6,500)
Net book value
-
-
No assets are classified as held for sale as at 31 January 2026. In the prior year ending 31 January 2025, Worsley’s Spur land recognised as held for sale at $6.5m was settled during the period.
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