University Council has now approved the University’s financial statements for the year ended 31 July 2016. These have been published on the University website and are available here.
The income generated by the University for the year to 31 July 2016 increased by £23.7 million to a record level of £556 million, an improvement of 4.5% compared with 2014/15. This growth was mainly due to higher undergraduate student numbers from the UK and Europe. The University achieved a surplus of £28.0 million (5.0% of income) in the year to 31 July 2016 before actuarial losses from pension schemes leaving total comprehensive income of £4.1 million.
This is the first year of financial statements prepared under the new Financial Reporting Standard (FRS 102) and Statement of Recommended Practice (SORP) and the comparative 2015 results have been restated under the new rules. Full details of the impact of the changes are set out in note 30 in the financial statements.
We print a small number of paper copies, and a printed copy can be obtained from Sue Granshaw.
These results put the University in a good position as we deliver the University strategy and 10 Year Plan.
Sarah Pook
Director of Finance