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  • Finance Record (2014/15 to 2016/17)

    The Finance record is constructed each year to the Statement of Recommended Practice (SORP). A fundamental review of the Finance record was completed in 2014, with the resulting changes implemented in a new specification for the 2015/16 collection, taking into consideration the changes from the implementation of Financial Reporting Standards (FRS) 102. Financial Reporting Standards (FRS) 102 is the new financial reporting framework for higher and further education providers for reporting periods starting on or after 1 January 2015. These new standards have introduced significant changes in the way financial performance is reported, which present difficulties in comparing results from 2015/16 and 2016/17 with historical trends, and in comparing results between providers. Some transitional changes reflected in the restated 2014/15 results mean this is also an atypical year.

  • Financial statement (2016/17)

    The 2016/17 HESA Finance record for the following HE provider is based on the providers' draft consolidated financial statement:

    The University of Greenwich

  • Intangible assets (2015/16)

    In 2015/16, the University of the West of England, Bristol incorrectly reported their fixed assets as intangible assets. This has been corrected in the restated figures captured within the 2016/17 submission. This has had an impact on the sector figures for intangible assets and has resulted in a large percentage change between the years.

    2015/16 return (£ thousands)
    Fixed assets - 0
    Intangible assets - 582,474

    Restated 2016/17 return (£ thousands)
    Fixed assets - 582474
    Intangible assets - 0

  • Table 6 - Tuition fees and education contracts (2015/16)

    In 2016/17, Manchester Metropolitan University incorrectly reported some figures within the Finance record Table 6, sections 1 and 2. The correct figures are as follows:

    • 1 HE Course fees
      • 1a Home domiciled students
        • 1ai Full-time undergraduate - Source of fees Other = £5,292K
      • 2 Non-credit bearing course fees - Total £2,543K
    Finance Tuition fees