Christ’s College Canterbury
Notes to the financial statements for the year ended 31 January 2026
2026 $000
2025 $000
Leases
21
Less than one year
126
142 124
Later than one year and no later than five years
84
Total leases
210
266
Payments for operating lease agreements, where the lessor retains substantially the risk and rewards of ownership of an asset, are recognised as an expense over the lease term.
Equity Reserves Funds are allocated from general equity to equity reserves to record the nature and purpose for which the donations and bequests which generate the equity are intended. Restricted funds are Capital Reserves which are invested in order to generate returns, rather than being applied to expenditure directly. The funds are inflation adjusted at the rate of the Consumer Price Index to ensure the value is not eroded over time. They are allocated to scholarships and bursaries, arts and education, sports and recreation, building and infrastructure maintenance and construction and general operations of the school. General Reserves include donations and bequests intended for expenditure rather than investment. Special funds include fundraising and donations made for specific purposes. Expenditure allocated to the various funds has been applied according to the purposes intended.
22
22(i) Restricted Funds Equity Reserve
Opening Balance
Inflation
Closing Balance
Inflation
Closing Balance
Protection
Protection
(a) Capital Reserves
$000
2025
@ 2.2%
2025
@ 3.1%
2026
Name of Trust Sports & Recreation Trust Scholarship & Bursary Trust
280
6
286
9
295
3,854
86
3,940
122
4,062
Art & Education Trust
249 295
6 7
255 302
8 9
263 311
Building & Infrastructure Trust
General Purposes Trust
3,550
78
3,628
114
3,742
Total
8,228
183
8,411
261
8,673
Description of the Trust Funds SPORTS & RECREATION TRUST Provide support for the College Sports & Recreation programmes including travel subsidies for students representing the College. SCHOLARSHIPS & BURSARY TRUST Provide financial assistance to allow students to attend College. ART & EDUCATION TRUST Support Art & Education initiatives at College including Music & Drama financial support for extra tuition. BUILDING & INFRASTRUCTURE TRUST Maintenance and construction of the College campus including the maintenance of heritage buildings. GENERAL PURPOSES TRUST Provide support a range of general initiatives around College including contributing towards the College running costs.
Trust General Reserves
(b)
Opening Balance
Funds Scholarships
Other
Closing Balance
$000
In & Bursaries Expenditure
General Reserves 2026
1,583
-
(1,429)
(154)
-
General Reserves 2025
12,041
505
(1,843)
(9,120)
1,583
31
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