Students are at the heart of our University; we work in partnership with them and our Students’ Union to take their needs and expectations into account in our decision-making.
We take pride in our consistently strong reputation for the quality of our student experience, the strength of our student support services, and our commitment to student mental health and well-being.
Our aim is to spend the income we earn wisely and, as a charity, we have a responsibility to re-invest any additional income after costs have been covered back into the University to support our strategic vision and purpose.
Our Annual Review 2025 provides detailed information about the sorts of activities we used our income to fund during the period from 1 August 2024 to 31 July 2025.
We receive income from a variety of sources including student fees, government grants and research grants, by generating our own income from enterprise, innovation, and education related activities, receiving donations and from returns on investments.
A significant proportion of the University’s funding is spent on staff and activities directly supporting teaching and research.
However, there are also significant costs associated with providing services to students, running the University, and ensuring that our buildings, facilities, and equipment are all run efficiently and maintained to acceptable standards.
Value for money for our staff and students is core to the University. The summary information provided below aims to demonstrate this by illustrating where the University’s income came from in 2024/25 and how it was spent.
Financial Results For 2025
In the year to July 2025 the University generated income of £333m, reporting a deficit of £35m. In line with many institutions within the Higher Education sector, the University faced major challenges to the finances which are set to continue. An ambitious Financial Sustainability Programme was launched in 2023/24 and continues to run, securing the savings required to continue meeting the needs and expectations of our students.
Where our income comes from
In 2024/25 our total income decreased by 13% to £333m.
Income by category 2024/25
| Income |
Year ended 31 July 2025 (£m) |
Tuition fees and education contracts
Tuition fee income includes both undergraduate and postgraduate tuition fees from home and overseas students. |
177 |
Funding body grants
Medr provide grants to support teaching, research, and related activities. Grants include funding for more expensive and higher cost subjects, premium funding for Welsh medium enrolments and disabled students, research funding and innovation funding. Capital funding (£37m) is allocated to support teaching and research. |
39 |
Research grants and contracts
This includes research grants and contract income from research councils, UK and overseas government and health bodies, industry, and charities. |
51 |
Other income (including investment income, donations, and endowments)
This includes income from other sources including student residences, consultancy, other academic income, conferences, and NHS income in respect of the medical school. |
66 |
| Total income |
333 |
What we spend our income on
In 2024/25 we spent £361m supporting our teaching and research activities, down from £402m in 2023/24. This reduction in spend was planned as part of the Financial Sustainability Programme, securing the future of the University. Total spend decreased by 10% from the prior year, with spend on academic and related expenditure only decreasing by 3%.
Expenditure by category 2024/25
| Expenditure |
Year ended 31 July 2025 (£m) |
Academic & related expenditure
This pays for the teaching and the academic support, along with equipment and services to support teaching. |
163 |
Research grants and contracts
The University works in collaboration with external partners to produce world leading and internationally excellent research. |
38 |
Administration and central services
This is the cost of providing the services to provide a high-quality student experience. |
68 |
Premises
This is the maintenance of the campuses, ensuring top class facilities and space are available to our students and researchers |
35 |
Residences and catering
This is spend on the student residences and catering facilities across both campuses. |
28 |
Loan interest and repayments
The University holds significant loans which are used to expand and improve the Campus and facilities |
9 |
For investment in our future
Investments are made in infrastructure and activities to ensure we can continue delivering the University strategy. |
20 |
| Total Expenditure |
361 |
The diagram below shows the proportion of every £1 that is spent on the main categories of expenditure.
Breakdown of expenditure for £1 spent
Further detailed information is publicly available in the financial statements Annual Review 2025
