Annual Review/ Financial Statements 2018
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The UK’s European university ANNUAL REVIEW / FINANCIAL STATEMENTS 2018 Contents 1 Introduction by the Vice-Chancellor and President 2 Highlights of the year 5 Membership of Council 6 Principal Officers 8 University public benefit statement 16 Financial Statements 16 Strategic Report 29 Statement of corporate governance & internal control 34 Statement of the responsibilities of the University’s Council 35 Independent auditors report to the Council of the University of Kent 37 Consolidated statement of comprehensive income and expenditure 38 Statement of changes in reserves 39 Balance sheets 40 Consolidated statement of cashflows 41 Statement of principal accounting policies 46 Notes to the accounts 65 Awards, appointments, promotions & deaths www.kent.ac.uk 1 INTRODUCTION It is a pleasure to introduce this year’s annual review. The University of Kent offers the strengths and opportunities of a long-established full- spectrum university and combines these with dynamism, social focus, innovation and community spirit. We have substantial achievements in Education and Research and impressive assets in our staff, our students, our campuses in Canterbury and Medway, our European Study Centres and our proximity to London. Our students come to us from a wide variety of backgrounds and we are supporting their learning in many and varied ways while they are with us. Our Student Success project, designed to enable those from diverse backgrounds to achieve their full potential, won a Times Higher Award last November. In March, we marked another milestone when a joint bid by the University and Canterbury Christ Church University for medical places was successful. The Kent and Medway Medical School will take its first students in 2020. Over the past year, the University has been refreshing its ambitions so that we will be able to celebrate our 60th anniversary in 2025 by: demonstrating an even more transformative student experience; delivering research and innovation of high quality and impact; and building on our civic mission. The activities and achievements set out in this review underline the strength of the base we are building on. Professor Karen Cox Vice-Chancellor and President 2 UNIVERSITY OF KENT / ANNUAL REVIEW AND FINANCIAL STATEMENTS 2018 HIGHLIGHTS OF THE YEAR Medical first Student space Successful bid by University of Kent New Student Hub at Park Wood and Canterbury Christ Church includes study space, shop, University to open dance studios and first Kent and two-floor Medway Medical bar and School in 2020. restaurant. Outstanding support million Outstanding Support £27 for Students award Official opening of Templeman at the 2017 Times Library on Canterbury Higher Education campus, following Awards for extensive acclaimed Student refurbishment Success Project. and upgrade. Research excellence Top 50 Government Among the top 50 accreditation for in the Times Higher our Academic Education’s new Centre of European Teaching Excellence in Rankings. Cyber Security Research. www.kent.ac.uk 3 1100+ donors Nobel Prize Over £900k in Nobel Prize for Literature 2017 awarded philanthropic to acclaimed novelist Kazuo Ishiguro, receipts from 1,169 who studied for BA in English and donors, to support Philosophy at Kent. students and research in 2017/18. Start-ups Economic impact More than 130 Contributed £907m new businesses a year to the launched at our south-east enterprise hub region, since 2013. supporting 9,448 jobs. 117,000 people More than 117,000 visitors welcomed to more million than 1,000 arts and culture events on campus. £6 Almost £6m secured for local people through the work of Kent Law Clinic, providing FREE free legal advice to those in need. 4 UNIVERSITY OF KENT / ANNUAL REVIEW AND FINANCIAL STATEMENTS 2018 www.kent.ac.uk 5 MEMBERSHIP OF THE COUNCIL Membership of the Council Chair of the Council Sir David Warren Deputy Chair of the Council / Chair of the Finance and Resources Committee Bob Scruton Vice-Chancellor and President Professor Karen Cox Senior Deputy Vice-Chancellor and Provost David Nightingale Senior Deputy Vice-Chancellor and Chief Operating Officer Denise Everitt President of Kent Union Ruth Wilkinson (to 31 July 2018) Aaron Thompson (from 1 August 2018) External members Dame Ursula Brennan Colin Carmichael Peter Clokey (to 31 July 2018) Martin Coleman (to 31 July 2018) Martin Cook Neil Davies Sarah Gibson Richard Honey (to 31 July 2018) Kim Lowe (from 1 August 2018) Gabriel MacGregor (from 1 August 2018) Angela McNab Mark Malcolmson (from 1 August 2018) Andrew Newell Heather Norton (to 31 July 2018) Mark Preston (from 1 August 2018) Dr Harshad Topiwala (to 31 July 2018) Staff and Student representatives Mark Ellis Professor John Fitzpatrick (to 31 July 2018) Charlotte Guy (to 31 July 2018) Dr Owen Lyne Simeon Onaji (to 31 July 2018) Professor Charlotte Sleigh (from 1 August 2018) Zoe Wood (from 1 August 2018) Alexis Zouechtiagh (from 1 August 2018) Total Membership 25 Secretary of the Council Dr Keith Lampard The Chairs of Council committees were as follows: Audit Committee Peter Clokey (to 31 July 2018) Andrew Newell (from 1 August 2018) Ethics Committee Heather Norton (to 31 July 2018) Sarah Gibson (from 1 August 2018) Finance and Resources Committee: Bob Scruton Honorary Degrees Committee (Joint Committee with Senate) Professor Karen Cox Lay Nominations Committee Sir David Warren Remuneration Committee Sir David Warren Safety Health and Environment Executive Committee Denise Everitt 6 UNIVERSITY OF KENT / ANNUAL REVIEW AND FINANCIAL STATEMENTS 2018 PRINCIPAL OFFICERS Visitor The Lord Archbishop of Canterbury Chancellor Gavin Esler Chair of the Council Sir David Warren Vice-Chancellor and President Professor Karen Cox Deputy Chair of the Council Bob Scruton Senior Deputy Vice-Chancellor and Provost David Nightingale Senior Deputy Vice-Chancellor and Chief Operating Officer Denise Everitt Deputy Vice-Chancellor, Education Professor April McMahon Deputy Vice-Chancellor, Research & Innovation Professor Philippe De Wilde Director of Finance Lisa-Jane Crudgington-Higham Dean of the Faculty of Humanities Professor Simon Kirchin Dean of the Faculty of Sciences Professor Mark Burchell Dean of the Faculty of Social Sciences John Wightman Dean of the Graduate School Professor Paul Allain Dean for Europe Professor Jeremy Carrette Dean for Medway Professor Nicholas Grief Dean for Internationalisation Anthony Manning Dean of KentHealth Peter Nicholls Dean of the Kent and Medway Medical School Professor Christopher Holland Secretary of the Council (and the Court) Keith Lampard Senior Master Wayne Campbell Master of Darwin and Woolf Colleges Jonathan Friday Master of Eliot College Stephen Burke Master of Keynes College Chloé Gallien Master of Rutherford College Peter Klappa Master of Turing College Dermot O’Brien College Master for Medway Jane Glew www.kent.ac.uk 7 8 UNIVERSITY OF KENT / ANNUAL REVIEW AND FINANCIAL STATEMENTS 2018 UNIVERSITY’S PUBLIC BENEFIT STATEMENT FOR 2017/2018 The text below shows how the University has worked towards this The University of Kent is an exempt objective, in the three key areas, and how it has delivered its charitable charity regulated by the Office for purposes for the public benefit. Students (OfS). The University’s 1 The delivery of research of the highest quality, Royal Charter of 1965 established the meeting international standards of excellence across the full range of our subjects. University Council as the supreme The University of Kent is active in research across its range of disciplines governing body of the institution. and contributes to the public good through scientific discovery and an enhanced understanding of economic, social, political, philosophical, Council serves as the University’s ethical, artistic and cultural areas of the human experience. board of trustees and has overall The University aims to maximise the positive impact its research can have responsibility for the University’s on society and, in particular, its local communities and its goal is to be strategic aims and direction in the embedded and invested in its region, and to help Kent thrive. From science festivals and arts exhibitions to health workshops and business furtherance of the objects defined by seminars the University is committed to public engagement with research. By engaging in this way, the University can contribute positively to its local the Charter. communities. Members of the University Council have regard to the Charity The University’s research is openly published and disseminated, and Commission’s public benefit guidance when exercising any powers or active steps are taken to apply research where economic and social duties to which the guidance is relevant. They also refer to the guidance benefits are identified, to tackle global challenges from age discrimination issued by the Office for Students in its role as principal regulator. to viral epidemics and to apply for international research grants and to globally-focussed funding streams. From the Royal Charter, the objects of the University are: “to advance education and disseminate knowledge by teaching, The following three research projects illustrate the high quality of the scholarship and research for the public benefit.” University’s research across its three Faculties. The University’s Objective, set out in its Plan 2015-2020, approved by Faculty of Humanities Council at its meeting on 15 October 2015, to achieve the objects of the Ulf Schmidt is Professor of Modern History, Director of the Centre for the University from the