skip to content

University level reporting

University level management accounts and financial statements are presented in a format consistent with the Statement of Recommended Practice: Further and Higher Education (the SORP).

For periods up to 31 July 2015, the SORP issued in 2007 applied. From 1 August 2015, the University is following a new SORP referred to as SORP 2015. Currently, complying with FRS 102; F&HE SORP 2019.

The main primary statements, reflected in both the management accounts and the financial statements, are:

  • Statement of comprehensive income
  • Balance sheet (Statement of financial position, including the Cash flow statement)

Statement of comprehensive income

This sets out in summary form the income and expenditure of the University:

  • it defines a surplus or deficit for the period (the difference between income and expenditure);
  • it also sets out any gains or losses outside the scope of income and expenditure, including gains or losses arising on investments held; and
  • it shows a net result for the period referred to as total comprehensive income

Balance Sheet

This is a snapshot of the state of affairs of the University at the end of the reporting period:

  • it sets out the University’s assets and liabilities at that date;
  • it defines the net assets of the University (the total assets less total liabilities)
  • it sets out how the net assets are split between endowments, restricted reserves and unrestricted reserves.

The University’s annual reports are available for perusal.

Mapping of General Ledger balances

The mapping of General Ledger balances onto the headings presented in these two primary statements depends not only on transaction codes but also on Source of Funds codes. The following tables summarise the principal elements of the mapping.

Statement of comprehensive income Transaction Source of Funds 
Tuition fees K*** All
Funding body grants H***, J*** All excl. J***
Funding body grants A*** to F*** (1) J***
Research grants and contracts A*** to F*** (1) M***
Donations and endowments LF** All
Other income L*** but not LF** All excl. J***, M***
Investment income N*** All
Staff costs A*** to D*** All
Other operating expenses E*** and F*** but not FB** All
Depreciation FB** Z***
Gain on investments: XH** All

(1) Income here is recognised to the extent of recoverable costs recorded.

Balance sheet Transaction Source of Funds
Net assets:    
Fixed assets P*** not PC** All
Heritage assets PC** All
Investments R*** and S*** but not certain SF** and SP** items defined as cash All
Stock T*** All
Trade and other receivables U*** All
Cash and cash equivalents Certain SF** and SP** All
Creditors V*** All
Creditors A*** to N***, X*** J***, M***
Endowment reserves A*** to N***, X*** IA**, IB**, K***, L***, RAAA
Restricted reserves A*** to N***, X*** H***
Unrestricted reserves A*** to N***, X*** All except  H***, IA**, IB**, J***, K***, L***, M***, RAAA


Latest version 01 May 2024

Raven Login

Some items on this website are restricted. University members are encouraged to log in using Raven to make the best use of the site:
Login with Raven