16 Financial assets Restated 31 Mar 2022 £’000 31 Mar 2021 £’000 At valuation At 1 April 101,868 111,168 Additions 63,533 76,590 Disposals (42,099) (91,859) Unrealised (losses)/gains transferred to income and expenditure (1,145) 5,969 At 31 March 122,157 101,868 Historical cost of tradable investments 119,252 97,297 Financial assets, comprising units in Baillie Gifford’s Diversified Growth Fund, Baillie Gifford’s Global Stewardship Fund, Adept Investment Management’s Absolute Return, Fixed Income and Diversified Liquid Credit Funds, BentallGreenOak’s UK Debt II and III Property Funds and cash funds held by Royal London Asset Management, are fair valued annually at the close of business on the balance sheet date. Wherever possible, fair value is determined by reference to Stock Exchange quoted bid prices or to the Fund Manager’s closing single price on a single swinging price basis. Financial assets are classified as non-current assets unless they are expected to be realised within twelvemonths of the balance sheet date. Concentration of financial assets Non-current UK equities 1,441 861 Overseas equities 15,649 5,749 Fixed interest government bonds 284 306 Fixed interest non-government bonds 22,107 31,149 Inflation-linked bonds 8,322 19,238 Absolute return 9,045 – Multi asset credit 5,606 – Property and property debt 9,932 8,370 Cash and deposits 4,789 913 Other – 281 77,175 66,867 Current Cash funds 44,982 35,001 122,157 101,868 Financial assets are denominated in the following currencies UK Pound
