Annual Report and Financial Statements For the year ended 31 July 2019 Section title appears here 2 arts.ac.uk Contents Page 4 Page 44 Officers and advisors Independent auditor’s report to the Court of Governors Page 5 Court of Governors Page 46 Consolidated and University Page 6 statement of comprehensive Summary of key statistics income and expenditure Page 8 Vice-Chancellor’s foreword Page 47 Consolidated and University Page 10 statement of changes in reserves Strategic review Page 48 Page 26 Consolidated and Financial review University balance sheet Page 34 Page 49 Public benefit Consolidated cash flow statement Page 34 Page 50 Governance review Statement of principal accounting policies Page 36 Corporate governance statement Page 54 and statement of internal control Notes to the accounts Page 41 Annual remuneration statement Page 42 Statement of the Court of Governors’ responsibilities 3 Officers and Advisors Vice-Chancellor Sir Nigel Carrington University Secretary Stephen Marshall and Registrar Principal office 272 High Holborn, London WC1V 7EY External auditor KPMG LLP Chartered Accountants 15 Canada Square, London E14 5GL Internal auditor PwC PricewaterhouseCoopers LLP 1 Embankment Place, London, WC2N 6RH Bankers Lloyds Bank Plc 39 Threadneedle Street, London EC2R 8AU National Westminster Bank Plc Piccadilly and New Bond Street 63 – 65 Piccadilly, London W1J 0AJ Insurers UM Association Limited and Hasilwood Management Services Limited 4th Floor, 5 St Helen’s Place, London, EC3A 6AB arts.ac.uk 4 Court of Governors Independent members Lorraine Baldry OBE (retired on 31 August 2018) Es Devlin OBE RDI Harry Gaskell (reappointed 23 October 2019) Andrew Hochhauser QC David Isaac CBE David Lindsell Scott Mead Louise Moore Jane Slinn Nicolai Tangen Ben Terrett RDI Alison Woodhams Vice-Chancellor Sir Nigel Carrington ex officio Members nominated Theresa Finnigan (retired 31 August 2019) by academic board Professor Susan Orr (retired 31 August 2019) Darla-Jane Gilroy (appointed 1 September 2019) Student member Anita Israel (reappointed 1 August 2019) Co-opted members David Fison Diane Gowland (appointed 1 April 2019) Diana Osagie (retired 30 April 2019) Sim Scavazza Sir Eric Thomas Co-opted staff members Kyran Joughin Matthew Phull Clerk Stephen Marshall 5 Summary of key statistics 6 Colleges 19,262 students 1,321 academic, research and technical staff 2,584 associate lecturers 1,691 support staff Number of students at the University by course level 1,395 14,656 3,211 Further education Undergraduate Postgraduate Our student profile 46% 15% 39% United Kingdom Other EU International arts.ac.uk 6 Number of students Number of students at taught by Awarding Body the University by subject Fine Art 2,113 Communication and Graphic Design 2,052 57,764 Journalism, PR, Media and Publishing 2,014 Fashion Design 2,002 Business and Management Number of students and Science 1,939 taught by Short Courses FE and Preparation for HE 1,721 Animation, Interactive 1,187 18,545 Film and Sound Theatre, Screen and Performance Design 1,104 Illustration 898 Photography 881 Architecture and Spatial Design 874 Textiles and Materials 793 3D Design and Product Design 572 Accessories, Footwear and Jewellery 495 Curation and Culture 481 Postgraduate Teaching 136 7 Vice-Chancellor’s foreword UAL is in a strong financial position, as we continue to build our reputation as a teaching university In November 2018, Professor Helen Storey promotes inclusive practices to enhance substantial legacy of Professor Frances was announced as first Artist in Residence understanding and respect in academia Corner, appointed the first female Warden of at Za’atari Refugee Camp in Jordan. “It’s for refugees. Elsewhere, Hong Kong Goldsmiths in April 2019. In 14 years at the full of artists,” she said. “It’s full of students. remains an important strategic partner, helm, Frances transformed London College It’s full of people you would regard as and we celebrated the importance of of Fashion into a top international fashion part of your everyday life.” Helen’s project art and science to this city at the British school, based around her insight that fashion empowers women in the camp by nurturing Council SPARK Festival 2019, with the UAL means business and better lives. entrepreneurship and creativity, including a Global Pavilion highlighting the work of UK, perfume lab, kitchen, hydroponic garden and European and Asian artists. UAL is in a strong financial position, as shop. Art & design education is distinguished we continue to build our reputation as a by such hopeful yet practical encounters The creative application of emerging teaching university, rising to number 2 in the between everyday life and the profound technologies and practices is central to world for Art & Design in the 2019 QS World changes sweeping across our world. our strategy and fundamental to national University Rankings by Subject. This makes industrial strategy. We therefore work closely us one of the top undergraduate destination As we expand our ambitions to become a with government and other universities for creative talent globally. Students are truly global university, UAL aims to play a across a range of initiatives. equal partners in this success. It therefore significant part in the response to challenges feels right to end with Fredrik Tjærandsen’s including climate change, sustainability, Our new Creative Computing Institute, spectacular graduate collection. Tjærandsen migration, social justice, wellbeing and generously supported by AKO Foundation studied sculpture at Foundation level inclusive economies. Our partners this and Scott Mead, exceeded expectations before progressing to BA (Hons) Fashion year were international cities, universities, for research in its first year, and its courses Womenswear. Film of his delicate inflated industry and community organisations, with are already in high demand. We have been balloon dresses went viral even as his models a European focus to ensure borderless fortunate to make high-profile professorial left the Central Saint Martins catwalk. As ever, collaboration after Brexit. appointments from leading UK and USA art confounds us with strangeness and goes research institutions, secured a grant from out into the world as new beauty. Our first ever city partnership, signed with the Institute of Coding Future Projects the Mayor of Bilbao, typifies this approach. Fund, and awarded the institute’s first We want to make a defining contribution fellowships to Creative Applications to the vibrant creative economy of the Network and Feminist Internet. Basque Country, co-developing industry and research projects with higher education UAL launched the Fashion District in late and manufacturing partners, research 2018 to give East London the edge in centres and museums. high-tech fashion manufacturing, the result of a three-year partnership with the Greater Other new European partners include London Authority. This complements our NOVA University Lisbon, with whom biggest ever research initiative, the Business we are collaborating on a new art and of Fashion, Textiles and Technology Creative design school in Trafaria. Meanwhile, R&D Partnership, a five-year project to London College of Communication is reshape the fashion and textile supply working with four European universities in chain through innovation and sustainability. Sir Nigel Carrington arts.ac.uk coLAB. This European Teaching Initiative These achievements are part of the Vice-Chancellor 8 9 Strategic Review Overview UAL supplies the world’s need for creativity. We are among the most renowned international institutions in arts, design, fashion, media, communication and performing arts. Our critical mass and reputation enable us to take a leading role in the creative economy in the UK, Europe and beyond. We actively influence global cultural debates through the diversity and international reach of our staff, students and alumni. As a creative university, our future is formed by the imagination, energy and skills of our staff, students, alumni, honoraries and the many academics from other institutions who work closely with us each year. Our success is founded upon the specific histories, identities and achievements of our six constituent Colleges, and their long engagement with creative, intellectual and professional life. Camberwell College of Arts Central Saint Martins Chelsea College of Arts London College of Communication London College of Fashion Wimbledon College of Arts arts.ac.uk 10 We are internationally regarded as the UK’s pre-eminent provider of undergraduate art and design education. In 2019 UAL significantly raised its standing in the QS World Rankings by subject, moving into second place for Art and Design from sixth in 2018. Demand for places is high, with 30,874 applications for 5,376 undergraduate places in 2018/19. We are in the top six (out of more than 40) higher education institutions by total income in Greater London. Over 19,000 students study on 216 accredited courses in art and design at UAL. These cover all levels of study, from foundation diplomas and undergraduate degrees through to postgraduate taught and research degrees. UAL also leads the sector in pre-degree creative arts qualifications through our Ofqual-approved UAL Awarding Body, which awards specialist qualifications to 51,000 students across the UK in creative disciplines, including Foundation in Art and Design, working with 213 centres across the UK. It held its 11th annual Origins Creative Arts Festival in 2019, showcasing