Welcome to the 2021-22 Financial Statements

Welcome to the 2021-22

Financial Statements

We are delighted to present the annual report and financial statements for Buckinghamshire New University for 2021-22 which we believe represent the strongest results in our institution’s proud history.

In what has been a remarkably successful year, we have increased our student population and returned a third consecutive, and highest ever, surplus of £7.6m, cementing our financial sustainability, and we have embarked on significant estates redevelopment at our High Wycombe campus.

Our staff community are united in providing the best student experience. And so we were delighted that the National Student Survey results published in July 2022 showed that overall student satisfaction for our taught students increased by 10% to 80% to see BNU ranked 5th amongst all UK universities. BNU also performed strongly in the Whatuni Awards, ranking 2nd for teaching quality and 5th for student support.

BNU also ranked first amongst UK higher education institutions with 96% overall satisfaction in Advance HE’s 2022 Postgraduate Research Experience Survey.

This year saw a significant improvement in BNU’s research performance as measured by the 2021 Research Excellence Framework (REF). Strategically driven changes in our research culture and environment led to 44% of the University’s research being judged to be of world-leading or internationally excellent quality, based on the six subject-based units of assessment we submitted.

2021-22 marked the final year of the University’s Impact 22 strategy and we are proud that results such as these mean we have now met or exceeded the vast majority of the ambitious targets we set ourselves, despite the challenges of the coronavirus pandemic and ongoing uncertainty and challenge for the higher education sector.

As well as these successes, the past year has brought moments of reflection. Our University community was deeply saddened by the passing of Queen Elizabeth II and we continue to offer our sincere condolences to King Charles III and the Royal Family. We will create a new University garden as a tribute to Her Majesty’s loyal and dedicated 70 years’ service. We are also honoured to be one of three organisations in Buckinghamshire to receive a commemorative tree from the Queen’s Platinum Jubilee celebrations as part of The Queen’s Green Canopy initiative, the ‘Tree of Trees’.

We reflected with great pride on the appointment of BNU alumnus Jay Blades MBE as the University’s first Chancellor, an inspiring individual and a shining example of the transformative power of the education we provide at BNU. We look forward to working closely with Jay in developing new courses in the area of furniture and design, and to harnessing his example as inspiration for our students, staff and community.

Indeed, being a responsible corporate citizen and doing the right thing by our staff, students and communities remains the bedrock of the University’s commitment to making a positive impact through its civic engagement work. During the year, the University’s partnerships with stakeholders included playing our part in tackling food and hygiene poverty; helping local adults learn to read; and supporting veterans and military families. BNU also introduced new scholarships to provide financial support and a place of safety for asylum seekers and refugees.

In the coming year, we will launch a new University strategy, Thrive 28, which will build on the successes we report in these financial statements, and which will make effective, substantial and lasting change to ensure BNU’s continued success.

Finally, we thank our staff, Council members and strategic partners for their continued support, and our students and learners for being such excellent ambassadors for the University. It is thanks to our University community’s hard work that we can all take collective pride in reporting the University’s remarkably successful performance in 2021-22.

Professor Nick Braisby Vice-Chancellor and Chief Executive Maggie Galliers CBE Chair of Council and Pro-Chancellor