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Other financial statements

HE Provider Data: Finance Other financial statements

On this page: Balance sheets | Cash flow | Capital expenditure | Separately disclosed material items | Reserves

The outbreak of the COVID-19 pandemic was declared in March 2020, part way through the 2019/20 academic year. Depending (among other factors) on the financial year end of each provider, there may have been varying impacts of the pandemic on individual providers’ financial data. Those with the earliest financial year ends between August 2019 and February 2020 as displayed in this release show data that relate to pre-pandemic activity. The bulk of providers however, had a financial year end of 31st July 2020.

There were fears of financial uncertainty from the pandemic arising from potential reduction of tuition fees, commercial income reduction from residences income, catering and other activities, impact on research activities due to closures and additional IT costs to support online teaching and teaching support. Although the more extreme fears proved misplaced in 2019/20, providers continue to face challenges and will be impacted by the financial consequences of the pandemic for a few years to come.

The publication date for this release has also been impacted by COVID-19. Previous issues of this release have been published earlier in the year, around late March/early April. As a result of the pandemic, providers’ audited accounts were not available to the usual timescales, and therefore a two-month extension to the data collection timescales was granted to all providers this year. This publication was compiled and released as soon as was possible from that point.

HESA has collected and published financial statements data and associated analysis for the UK HE sector for over twenty years. During this time, HE financial data was relatively homogeneous in many respects, with financial years naturally following the pattern of the academic year. Changes to the regulation of HE in England have seen a broadening and diversification of HE provider types, and consequently a re-evaluation of appropriate collection and publication strategies.

From 2018/19 the Office for Students (OfS) has been collecting financial data from HE providers in England, including alternative providers (APs) for the first time. Note that the OfS do not collect data from further education colleges and sixth form colleges under the primary regulation of the Education and Skills Funding Agency (ESFA). The data collected by the OfS has been ingested by HESA and integrated with the data for HE providers in Wales, Scotland and Northern Ireland. All tables contain a filter to allow for analysis by month of financial year end.

Providers for 2015/16 and 2016/17 academic years are all reported assuming a financial year end date of 31 July. As such, these dates will not appear in the tables.

Further accounts information by higher education provider. For information on VC pay, highly paid staff, and severance payments see:

Other financial statements: Senior staff pay

Balance sheets

Balance sheets give a statement of the assets, liabilities, and capital of each HE provider. They provide a snapshot of each HE provider's financial position at the end of their financial year. For publicly funded HE providers, this is 31 July. For privately funded providers, this month can vary.

Table 2: Consolidated statement of changes in reserves, reported in previous years has been discontinued from 2018/19 as the figures were not required for publication.

Table 3 - Consolidated balance sheet

Academic years 2015/16 to 2019/20


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HE providers in Scotland are required to provide additional information in their balance sheets.

Table 3S - Consolidated balance sheet as at 31 July - Scottish HE providers

Academic years 2015/16 to 2019/20

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Cash flow

Cash flow statements show how changes in balance sheet accounts and income affect cash and cash equivalents. Cash flow statements are concerned with the flow of cash in and out of the HE provider.

Table 4 - Consolidated statement of cash flows

Academic years 2015/16 to 2019/20


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Capital expenditure

Capital expenditure is the money that HE providers spend to buy, maintain, or improve their fixed assets, such as buildings, and equipment. Spending is considered capital expenditure if the benefits extend beyond the current year.

Table 9 - Capital expenditure

Academic years 2015/16 to 2019/20

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View operating expenditure

Separately disclosed material items

This table provides additional information in cases where an HE provider chose to disclose items on separate lines of their published income and expenditure statements.

Table 10 - Separately disclosed material items from the audited financial statement of comprehensive income and expenditure year ended 31 July

Academic years 2015/16 to 2019/20


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HE Provider Data: Finance pages

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