Middlesex University


Financial Statements 2015/16


Financial Review for the year ended 31 July 2016


The reconciliation below adjusts the statutory results before one-off items for the two significant FRS102 accounting adjustments (pension interest expense and staff holiday pay accrual) to derive an underlying performance before one-off and FRS102 items. The purpose of this measure is to reflect the boards view of the Groups underlying performance and to assist with like for like comparisons to prior year performance.


Reconciliation of statutory Surplus/(deficit) to underlying surplus on normal operations


Statutory surplus/(deficit) for the year before one off items


Impact of FRS102 conversion in year


Surplus on normal operations before one off items and FRS102


Consolidated 2015-16 £m


3.3 4.2 7.5


Consolidated 2014-15 £m


(3.1) 3.4 0.3


Income by Source £m


160 140 120 100 80 60 40 20 0


Tuition fees and education contracts


Funding body grants


Research grants and contracts


Other income (inc investment & Endownments)


2014/15 2015/16


28


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78