The University publishes its annual report and financial statements following formal approval at the December meeting of the Board of Governors. Annual reports and financial statements for previous years are available online and available for download below.

To request copies of financial statements pre-dating those above, please submit a Freedom of Information request.

Further information can also be found in our Financial Regulations Document.

How we spend student fees

How do student fees contribute to University income?

The income from student fees is the largest single source of income for the University and represents about 87% of the total income of the University. The rest of our income comes from accommodation and grants from the central government.

Source of income	Income £m
Tuition fees and Education Contracts	176.6
Funding Council Grants	7.6
Research	2.5
Accommodation (inc. Catering and Conferences)	6.6
Other income	10.0
Total income	203.3

The following chart highlights the University's financial expenditure per pound of income for the academic year 2023-24.

How does the University spend its income?

The University uses its income to provide the best student experience that it can. This includes investing in high quality academic staff as well as all the academic and student services that students use including the library, IT facilities, student services team, teaching support, arts facilities, careers & employability team, bursaries and placements as well as maintaining the buildings and campuses that all these services are housed in.

The University prides itself on providing high quality facilities. Some of the income is spent on maintaining, heating and cleaning the buildings, whilst providing an efficient support service to the academic, research and other University activity involves expenditure on central administration including management, human resources, finance, communications and planning.

Spend per £1	What it is spent on
48p	Academic departments and services
15p	Administration and central services
16p	Premises
2p	Residences, catering and conferences
2p	Research grants and contracts
17p	Other expenses

In 2023/24 the University was left with a surplus of £15m (approx 7% of its income). The University is a charity; it has no shareholders or owners that it has to pay money to: any surplus is re-invested to support the University in the future.

We budget to make a surplus to help pay for new buildings, for the refurbishment of the older buildings, and to allow us to invest in the future in academic staff and facilities, as student needs change.

Financial statements 2023/24	£m
Total income	203.3
Total expenditure	192.8
Operating surplus (before Gains/losses)	10.4
Gains/losses	5.1
Operating surplus (after Gains/losses)	15.6