38
ADEMiC FEES
MBA 24%
F
i
n
a
n
c
e
s
Sloan Fellowship MSc 3%
0
0
6
-
2
0
0
7
3
 00 AC
Executive MBA 10%

2
EMBA - Global 4%
i
e
w
Finance Programmes 15%
PhD Programme 1%

R
e
v
Executive Education Open Programmes 20%
Executive Education Custom Programmes 23%
A
n
n
u
a
l
 00 OTHER iNCOME
Funding Council grants 29%
Research grants and contracts 26%
Residences, catering and conferences 10%
Donations 16%
Investment income 4%
Other (including share of joint venture) 15%
 00 ExPENDiTURE
Staff costs 49%
External teaching and teaching support 22%
Research support 3%
Marketing 5%
Technology 2%
Premises and utilities 5%
Residences, catering and conferences 2%
Depreciation 5%
Other overheads (including tax) 7%


iNCOME 00 006

ExPENDiTURE 00 006

BALANCE SHEET 00 006
£’000 £’000 £’000 £’000 £’000 £’000
ACADEMiC FEES STAFF COSTS 43,129 38,571 Tangible assets 71,794 68,797
Finances
MBA 14,336 13,890 OTHER COSTS Investments 32,166 29,561
Sloan Fellowship MSc 1,798 1,719 External teaching Current assets 15,475 15,099
Executive MBA 6,255 7,026
and teaching support 19,490 17,542
Current liabilities (36,202) (30,491)
EMBA - Global 2,378 2,027
Research support 2,431 2,439
Long-term liabilities
Finance Programmes 9,322 8,623
Marketing 4,363 4,102 and provisions (2,917) (4,812)
PhD Programme 766 920
Technology 1,823 2,235 NET ASSETS 80,316 8,14
Executive Education
Premises and utilities 3,925 3,932
Open Programmes 11,848 10,299 Residences, catering
Executive Education
and conferences 1,431 1,632
REPRESENTED BY
Custom Programmes 13,787 14,846
Depreciation 4,691 4,115
Specific and
TOTAL ACADEMiC FEES 60,40 ,30
Other overheads
permanent endowments 12,002 9,899

(including tax) 6,300 5,423
General reserves 14,842 16,850
OTHER iNCOME
TOTAL ExPENDiTURE 8,83 ,1
Pension reserve (2,917) (4,812)
Funding Council grants 7,298 7,464

Revaluation reserve 32,753 32,753
Research grants
(DEFiCiT) / SURPLUS ON OPERATiONS
Deferred capital grants 23,636 23,464
and contracts 6,472 5,257
(1,838) 3,1
80,316 8,14
Residences, catering

and conferences 2,674 3,061

Donations 4,114 2,408
OTHER KEY STATiSTiCS
Investment income 924 2,848
Net cash (outflow) /
Other (including share
inflow for the year (1,84) 84
of joint venture) 3,773 3,374
Capital expenditure
TOTAL OTHER iNCOME , 4,41
during the year ,688 6,41
TOTAL iNCOME 8,4 83,6
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