UoW Integrated Annual Report 2021-2022

Year ending 31 July 2022

Our vision is to help shape a better world through everything we do, driven by the ambition, wisdom and impact of our students and staff.

Chair’s introduction

It has been a year of significant change, but one through which the University has emerged stronger and more resilient than ever, with a refreshed sense of purpose. We have come through two years of significant challenges caused by the pandemic, which were dealt with professionally and compassionately. We are very grateful to the stewardship of Professor Liz Stuart, who served as Vice-Chancellor between March 2021 and December 2021. In January 2022, we were delighted to welcome Professor Sarah Greer as our new Vice-Chancellor.

As we navigate the considerable challenges ahead, I am confident that we will be successful. The Board and the leadership team, supported by our dedicated academic and professional service staff, have been developing a new strategy that I believe will move the University of Winchester forward to new successes.

We are pleased that the hard work that we have put into developing a good and responsive relationship with our students is beginning to be evidenced externally. The National Student Survey rates us as 62nd out of 130 UK universities for overall satisfaction, up from 105th. We were delighted that our students feel strongly that they belong to a community of staff and students, putting us in the top 30 universities in the country for this measure.

While this is definitely a period of change in the world, we are confident that with hard work and prudence, the University can navigate the challenges ahead. We are taking all necessary steps to ensure that we remain financially sustainable, particularly in the current economic climate, whilst recognising the need to make appropriate investment for

I would like to express my huge gratitude to all the Winchester staff and our leadership team for their dedication and resilience, and for ensuring our Winchester community spirit continues to thrive. I would also like to thank all of my fellow governors who continue to focus on the governance and strategic development of the University, working closely with the leadership team. Although we are facing change, we will not waver in our mission to educate, to advance knowledge and serve the common good. We are also determined to realise our vision to help shape a better world through everything we do. It is the right time to revisit our University strategy and to be agile to ensure we continue to deliver those clear objectives.

Finally, I would like to offer my thanks on behalf of the whole University to Alan Titchmarsh, who stood down as Chancellor after six years of hard work. It was an honour and a delight to have him hold this important office for us, and we are delighted that he has agreed to continue his service to the University as Chancellor Emeritus.

Vice-Chancellor’s introduction

I was delighted to join the University in January, at the start of a new year, and as we began to emerge from the daily impact of the global pandemic. It has been a real pleasure to see our campus come back to life, welcoming our students back to fully face to face teaching. We have been particularly pleased to see our new landmark teaching building, the West Downs Centre, completed in the pandemic, throw open its doors to our new nursing students, who are enjoying learning their profession in their state-of-the-art clinical simulation suites.

There is no doubt that the year has presented the world with new and serious challenges. As a University of Sanctuary, we have welcomed Ukrainian students and staff to the city and to our University community. We will continue to work with our colleagues across the city’s organisations for as long as it takes to support Ukrainian students to enable them to continue their education and, hopefully, one day return to their homeland to make an outstanding contribution to society.

We are also seeking to manage the rising costs to the University, caused by the challenging economic situation, whilst trying to mitigate the impact of the rising cost of living on our students and staff. The uncertainty and anxiety caused by these current circumstances are very real and likely to continue for some time.

Nonetheless, we are optimistic about the future. We are taking the opportunity to review and clarify our University Strategy, and to refocus on our core mission: to educate, to advance knowledge and to serve the common good. This is as important today as it has always been, and it will give us the confidence and ability to navigate the next few challenging years. Most importantly, a renewed focus on transformational education will ensure that our graduates can face the future with confidence, knowing that they are equipped with the knowledge, skills, and resilience to enable them to succeed. They are tomorrow’s thinkers, creators and problem solvers. We are confident they will be ready to meet the challenges we face and thrive despite them.

This year we have begun to lay the firm foundations for our future success, and we have seen the early signs of green shoots of that success already in improved externally assessed metrics, such as the National Student Survey. There is plenty of hard work ahead, but I am confident that with a sustained and determined focus, by a committed and confident University community of staff, we can succeed.

FINANCIAL HIGHLIGHTS (£M) Total Revenue

2021-22

86.3

ACADEMIC STAFF (Headcount)

2021-22 2020-21 411 388

STUDENT NUMBERS

2020-21 84.4 2021-22 2020-21 8,248 8,142

EBITDA* (£M)

2021-22

12.7

CAPITAL EXPENDITURE (£M)

2021-22 2020-21 6.4 3.1

PROFESSIONAL SERVICE STAFF (Headcount)

2021-22 2020-21 562 564

STUDENT NUMBERS Total students (full-time equivalents)

2020-21 16.3 of students study full-time 6% are international students 18% of students are postgraduates

Mission and Values

Our mission

To educate, advance knowledge and serve the common good. Our original mission has never been more important than in today’s world, as we seek to deliver transformational education to our students, research to shape and inform the world in which we live and service to our local community, city and region.

Values

Individuals matter

We’re passionate about seeing staff and students succeed and flourish, so they feel encouraged to help others and empowered to make a real difference in the world. To achieve this, we seek to provide a challenging and supportive environment that encourages ambition, nurtures the embrace of equality, diversity and inclusivity, develops wisdom for a fulfilling life and embeds the knowledge needed for a successful career. Our staff and students will have the resilience and resourcefulness to seize the opportunities and face the challenges of life. We are committed to working globally to fight for equality, integrity and justice. Together, we will uphold the dignity and wellbeing of others, whoever they are and whatever their background.

Compassion

We love and respect the planet and all life. In alignment with the UN Sustainable Development Goals, we strive to meet the needs of the present without compromising the ability of future generations to meet their own needs. We seek to nurture a love and value for all life and the planet, and challenge all staff and students to adopt this as second nature. Staff and students are empowered to change the world for the better, challenge convention with compassion and stand up for what they believe to be true.

Spirituality

Together, we aim to explore the mysteries of life and grow wisdom and love. We celebrate our Anglican Christian foundation and welcome people of all faiths and none. In a world in which religion is often associated with exclusivity and anti-intellectualism, we seek to model ways of being religious that are inclusive and intellectually robust. We believe that everyone should be encouraged to express themselves through a unique collage of values, disciplines and practices. Our staff and students will have the opportunity to experience and reflect on the creativity, beauty and compassion in life.

Public Benefit Strategy

During 2021/22 we began the development of our new strategy which will be launched in January 2023. We have continued to operate within our Vision, Values and Mission. This annual report brings together highlights and developments under each section of our mission: To Educate, Advance Knowledge, and Serve the Common Good.

TO EDUCATE

One of our primary aims as a university is to provide an outstanding educational experience for our students. Through our portfolio of undergraduate and postgraduate courses, we build within our students a deep understanding and love of subject together with wider skills for life to help set them up to succeed while they are studying with us and after they graduate.

Teaching excellence

As a university we are passionate about the quality of our teaching, and the springboard that our programmes provide into successful and fulfilling lives.

NATIONAL STUDENT SURVEY

Guaranteeing students have an excellent academic experience and prospective students have the confidence to apply for a place means high levels of student satisfaction is key to the University’s continuing success. The University’s NSS 2022 results are more positive than the previous year’s as the University’s ‘Overall Satisfaction’ increased substantially, from 70% to 76%. As a result, Winchester climbed from 105th to 62nd position in the sector (130 UK universities) for ‘Overall Satisfaction’.

In addition, the University improved year-on-year in 25 of the 27 questions in the survey and four courses achieved 100% Overall Satisfaction. This year’s successes have already fed into university league tables as Winchester climbed 19 positions from 106th= to 87th In the Times Good University Guide 2023, primarily due to increases in its student satisfaction

OUR STUDENT OUTCOMES

Central to everything we do is the delivery of courses which propel students onto successful and fulfilling lives after graduation. Employability is woven through our curriculum and course teams work very closely with our Careers Service. In the latest Graduate Outcomes survey (2019/2020) the University maintained its ‘employed or further study’ metric at 90% and is in the top quartile in the sector (130 universities) for this metric. Further, we are joint second in the South East region for employment or further study.

The University continually strives to improve its progression TEF metric. The latest TEF data indicates almost seven out of ten (68%) of Winchester’s leavers to be in graduate level employment or further study, comfortably above its benchmark of 66.8%.

Our size and shape

In 2021/22 the University had 8,248 students across all levels of study, a 1.3% increase from the previous year. Within these figures there have been some changes in the courses students are opting to study, with, for example, growth in courses in our Faculty of Health and Wellbeing and decline in some courses in the arts and humanities.

The University saw a trebling of the relatively small number of international students coming to study Master’s degrees with us.

In response to this growth in numbers, the University has established a number of new staffing posts to support all international students and prepare them for a successful start and completion of their academic career with us. We anticipate that this will continue to be an area of growth for the University in the next five years.

In the year of this report, the University was made up of the following faculties:

• Faculty of Arts

• Faculty of Business, Law and Digital Technologies

• Faculty of Education

• Faculty of Health and Wellbeing

• Faculty of Humanities and Social Sciences

Throughout the year, the University conducted a data-led Portfolio Review to clarify and streamline our undergraduate course offering.

Our faculties

We currently have a wide range of undergraduate and postgraduate courses delivered across five faculties, each led by a separate Dean and faculty admin support.

FACULTY OF EDUCATION AND THE ARTS

The Faculty of Education and the Arts comprises four academic departments: Education and Childhood Studies; Performing Arts; the School of Media and Film, and the Institute of Education. Rigorous, creative programmes, with well resourced facilities, provide handson, fulfilling student experiences and an outstanding foundation for professional life after graduation. The Institute of Education has a wide range of ITT provision (undergraduate, campus-based PGCE and School Direct PGCE) which prepares our students for careers in primary or secondary teaching, and the attainment of Qualified Teacher Status.

FACULTY OF BUSINESS AND DIGITAL TECHNOLOGIES

This faculty spans a wide range of disciplines including Accounting, Business Management, Digital Media, Event Management, Fashion, Law, Marketing, Cyber Security, and Computer Science. The Faculty are proud to support and share extensive links with the professional and business community, ensuring that what we teach is relevant and that graduates possess essential employability skills.

FACULTY OF LAW, CRIME AND JUSTICE

Newly formed in 2022, this faculty brings together courses in Law, Criminology, Policing, and Forensics. Committed to professionally focused education, the Faculty’s plans are to ensure the University is making the most of the synergies between these areas.

FACULTY OF HUMANITIES AND SOCIAL SCIENCES

This faculty offers research-led teaching and outstanding support across numerous disciplines: Anthropology, Archaeology, Criminology, Forensic Studies, Geography, History, Politics, Psychology, Sociology, Theology and Religion, and Philosophy. The faculty is driven by passionate inquiry into what makes us human, and members are actively engaged in impactful research through our research centres, consultancies and public engagement.

FACULTY OF HEALTH AND WELLBEING

The Faculty of Health and Wellbeing is home to our students studying to attain qualifications in Physiotherapy, Nutrition and Dietetics, Nursing, Social Work, and Sport. This follows our pledge between the University and Hampshire Hospitals NHS Foundation Trust to work together to help address the growing demand for healthcare professionals in the region. From this partnership, students gain access to cuttingedge medical equipment, on-thejob training and teaching spaces within the Royal Hampshire County Hospital in Winchester, Andover and Basingstoke, supported by dedicated space in our West Downs building.

Supporting the needs of the local health service

The University has been growing its provision of courses within the Faculty of Health and Wellbeing, working closely with the NHS regionally. Our first cohort of Physiotherapy students successfully graduated from the University in October 2021.

The 2021/22 academic year was also the final year for our first cohort of nursing students. Working closely with local NHS providers, the University introduced the registered nurse degree apprenticeship (RNDA) in September 2021. At the ribbon cutting ceremony, Professor Greer was joined by Alex Whitfield, Chief Executive of Hampshire Hospitals NHS Foundation Trust (HHFT), which is one of a number of NHS providers that the University partners with, student nurses, the Mayor of Winchester and Mary Edwards, Chair of the Board.

We were joined by NHS staff, the Mayor of Winchester and other

dignitaries to open our state-of-theart clinical skills training facilities in the University’s West Downs Centre in April 2022. The new facilities are supporting the popular and fastgrowing nursing courses at the University, which are helping address the shortage in nurses in the region. The facilities, which are used by the 380 student nurses currently studying at the University, comprise two five-bed simulation hospital ward units with hi-tech medical mannequins and an active living centre, set up like a flat with kitchen, bathroom and bedroom. There is also a therapy room, a simulated GP surgery and classroom spaces. The opening also provided an opportunity for the University to thank NHS colleagues, staff and students for their work on the frontline during the pandemic.

To support expansion in this important area, in November 2021, we were awarded £1.1m from the

Office for Students’ Capital Funding Bid. Our bid was built around our vision ‘to positively influence the lives of individuals, families, communities and organisations by translating world-leading research and outstanding education into effective policy and practice’, and our strategy of growth in Nursing and Allied Health Professions. It provided funding for two projects to help facilitate the growth in our provision, including conversion of the third floor of the new West Downs Centre to provide several specialist workspaces and simulated environments to provide learning, teaching and assessment opportunities across a number of healthcare disciplines including nursing, and health and social care. The second project covered by the bid was the adaptation and refurbishment of an existing Victorian building called Holm Lodge, which is being adapted to house the newly launched nutrition and dietetics BSc (Hons) course.

University of Winchester student nurse Cyzel Gomes shortlisted for a Student Nursing Times Award 2022

Cyzel, who is in her final year studying on the BN (Hons) Nursing (Adult) degree course is one of just seven student nurses from around the country nominated for the Mary Seacole Award for outstanding contribution to diversity and inclusion.

The Award recognises a student who has made an exceptional contribution to creating a supportive and inclusive environment for their patients and/ or other students and staff, showing compassion and understanding of the needs of those from diverse backgrounds.

Some of the reasons for Cyzel’s nomination include her involvement in the University’s HEART group (Health

Education and Social Work AntiRacist Transformers), providing a safe space for students to talk about their personal experiences in their study and practice. She is also a champion of Breaking Through, a studentfocused group proving another forum to talk about issues that are often uncomfortable to confront.

Speaking about her shortlisting, Cyzel said: “I couldn’t and still struggle to believe it, that I have been nominated for an award at the Student Nursing Times Awards. It’s unbelievable but I am so humbled and feel so blessed for the recognition for all my work for equity, diversity and inclusion. I really believe that only together we will overcome the prejudices, discrimination, racism and colourism; making the world a much better place for the future generations to come. This nomination isn’t just for me, it’s for all the other Cyzels out there that are changing the world every day, with little acts of kindness. Especially for those that champion equity, diversity and inclusion and may have felt on many occasions, uninvited and unseen at the table.”

Ian Winkworth, Programme Leader, BN (Hons) Nursing (Adult) degree course, said: “Here at the University of Winchester we pride ourselves not only in producing the highquality nurses for the future, but also students who are socially and politically engaged and motivated. Cyzel is a prime example of this and from the beginning of the course has been an active voice for students and nursing with her student role with the Royal College of Nursing, placement with the Florence Nightingale Foundation, being Co-Chair of our Student Committee and also being an active member of the Hampshire and Isle of Wight Student Council.

“Cyzel is a real advocate for social justice and we are incredibly proud of what she has achieved as a student nurse, which has culminated in her nomination for the Nursing Times award.

Raising aspiration, access and success

We are deeply committed as a University to actively encouraging and supporting all students who have academic potential and ability to progress to higher education.

We have two key aims related to widening access into higher education which are; to work with local communities to increase the low rates of progression into higher education and to increase the diversity of our student body and close the gaps in participation in HE for students from under represented groups.

We currently work with over 30 local primary and secondary schools in areas with low levels of progression into higher education. We deliver a programme of sustained outreach activities via our UWIN Aspire Programme, including raising attainment initiatives in literacy and English Language. In 2021 we launched the First Star Scholars programme for a cohort of 30 careexperienced young people to join us on a four-year programme focusing on academic attainment through a series of Summer Schools and monthly Saturday Schools.

As founders of the Service Children’s Progression (SCiP) Alliance, we provide events and activities to support veterans, spouses and children from military service families access higher education via tailored activities and events.

We offer financial and support packages to care-leavers; estranged students; young adult carers, students seeking sanctuary and Gypsy Roma Traveller Showman and Boaters (GTRSB as of 2021 entry). Packages take account of background via contextualised admissions, provide designated support staff, access to year-round housing and financial support. All students in receipt of one of these support packages, including income-

based bursaries, are given transition support and buddying schemes. Last year, we also extended a support package, including accommodation and fee waivers, for a small cohort of Afghanistan students and their families.

Students from low-income families can also access our income-based bursaries. Students on our targeted support packages are also eligible to access the income-based bursaries if they meet the criteria. The bursary is evaluated each year with evidence suggesting that students find financial support reduces anxiety and enables them to actively engage in their studies.

The University has a Compact Scheme in place which includes staff development for Compact Coordinators in partner institutions to raise awareness of routes into University and to learn about curriculum developments, financial support and special measures to support applicants from target groups. These measures include taking into account special circumstances or contextual information for applicants from target groups identified as potentially benefiting from a tailored entry offer, guarantee of an invitation to interview, priority for student housing

and contacting our Student Services department to ensure a smooth transition from school/college to the University. In 2019/20, 307 applicants benefited from a Compact offer.

Each year we recruit a growing number of students from widening participation backgrounds onto our foundation year courses. In 2021/22, 70% of our foundation year students come from a priority WP target group, 62% are first-in-family to attend the university and over 30% are considered mature on entry. We value the ability to offer students who would have traditionally struggled to access higher education a specialised programme that better prepares them for degree level study in a university environment. We fear that without this route these students may have otherwise failed to access HE or dropped out without the additional tailored support.

In March 2022, the University joined a coalition of more than 30 organisations and individuals to launch the Young Carers Alliance, a new network which aims to provide a stronger collective voice for young carers and those who support them.

University

of Winchester academic Lim Teoh has been recognised with a prestigious fellowship in recognition of his commitment to excellence in learning and teaching.

Lim Teoh, Head of Learning and Teaching in the Faculty of Business, Law and Digital Technologies and senior lecturer in Accounting and Taxation, joins 54 new National Teaching Fellows across the country.

The National Teaching Fellowship Scheme (NTFS) celebrates and recognises individuals who have made an outstanding impact on student outcomes and teaching in higher education.

Living with Covid-19

Throughout the year, the University continued to both directly deal with the impact from Covid-19 and build back from the pandemic years.

Leading into the 2021/22 academic year, we had a ‘Project September’ team drawn together from colleagues across the institution to prepare for a full return to campus life for staff and students with faceto-face teaching and no social distancing. Recognising that some students and staff wished to continue to observe a level of separation from others, we provided a special lanyard for students and staff to signal to others that they would like to maintain their personal space. We hosted several pop-up vaccination centres during the year, including during Welcome Week for

Successful individuals also demonstrate impact and engagement beyond their immediate academic or professional role and a commitment to, and impact of, ongoing professional development with regards to teaching and learning and/or learning support.

Lim receives the fellowship for the way he has transformed traditional teaching practice into a more interesting and effective approach through the use of digital technologies, offering new solutions to engage students towards greater success.

He has won numerous teaching awards in recognition of his creative and innovative practices to enhance students’ learning. Prior to his academic career, Lim worked for a Big Four accounting firm in auditing and business consultancy for six years.

new students. Staff open meetings were held to communicate all the decisions being made and the challenges being considered while also giving staff the opportunity to raise concerns or solutions with the team.

With the rise Omicron variant prior to Christmas 2021, the University was well prepared to respond to changing Government guidance. We were pleased that the Government made it clear that face-to-face teaching should continue, and we put in place measures to ensure we are able to provide in-person teaching for all students.

To support those students staying both in halls and in the wider community within the city, we reinstated our Staying in Winchester Teams group which was initially set up to support students over the

Christmas 2020 break. This provided students with a space to connect with others local to them over the closure period and also provides a dedicated space for staff to promote local activities and engage with those students directly. Students self selected to join the Teams group which was managed by some of our Wardens and Student Listeners. The group promoted, amongst other things, wellbeing resources such as Student Space, Winchester Trees Trails and services at the Cathedral. Over Christmas and New Year, our Wardens team hosted in-person Christmas Cafés where students were able to meet together to watch films, see some friendly faces and share food and our Student Listeners offered online sessions for students to attend if they were feeling isolated and wanted to chat, or if they had specific concerns to raise.

There have been many useful lessons

learnt during the pandemic which have informed and enhanced the way we are now teaching and supporting students. Feedback from students was clear that recordings of lectures during the pandemic were beneficial to their learning, allowing them to go back and re-watch sessions as they work through their course. While all teaching sessions have been faceto-face, we are continuing to record teaching sessions to help with their learning.

Similarly, the integration of MS Teams into the University means that where students prefer to have one-toone meetings online, whether it be with academic or student support teams, we are now able to offer that. However, the majority of students are choosing to meet face-to-face.

Virtual placements, which were established during the previous lockdowns, have continued to benefit students learning on professional courses such as physiotherapy and nursing. In July 2022, a four-week virtual and simulated placement event for Nursing students took place in the clinical skills training facility in the West Downs Centre. Nursing students took part in a community simulation day, involving practice partners, which included a GP scenario and a community nurse visit to review a cellulitis case. There was also an acute medical ward simulation scenario; a service improvement hackathon, solving scenarios with lived experience experts, and virtual wards working with Hampshire Hospitals NHS Foundation Trust.

The virtual placements culminated in an awards and celebrations day on 22 July.

As part of the event, over 70 people attended Leading the Way in Digital Health, a conference hosted by the Faculty of Health and Wellbeing at the University Business School on Tuesday 19 July, 2022. Topics included expert lived experience, telehealth, the future digital workforce, new innovations in wearable devices, virtual wards and more.

Innovations established during the pandemic have also contributed to improvements to other elements of the student experience, for example, providing online sessions supporting incoming students as they prepare for higher education over the summer months.

Student Support and Success

In Autumn 2021, the University launched the Department of Student Support and Success, which encompasses the entire student journey from pre-arrival through to graduate employment and, at its

core, has the mission to support students to succeed. With the new department we also launched our Student Support and Success Adviser (SSSA) initiative, building on the learning from the Faculty Wellbeing and Employability Tutor trial. Each faculty has a dedicated SSSA, centrally managed but working out of the faculty.

The SSSAs work to preemptively support students with their academic success, catching students who may be at risk of failure before their situation becomes critical. The SSSAs provide wellbeing support to students and also support faculty colleagues with extenuating circumstances and Support to Study processes. In their first year of operation, the SSSAs are already making a positive impact on student retention and success.

We provide our graduates with careers advice for life, with mentoring and advice as they move through the early years of their careers and beyond.

TO ADVANCE KNOWLEDGE

RESEARCH GROWTH

This year we celebrated our success in the Research Excellence Framework 2021 (REF2021), benefitting from a substantial investment in research since the previous assessment exercise. We returned 126% more staff to the REF in 2022, which contributed to a significant increase in institutional research power, representing one of the top 20 highest increases nationally.

Our proportion of 4*research, judged to be world leading in terms of originality, significance and rigour has increased threefold since the last REF in 2014.

There were clear institutional strengths, such as in Education, which produced the 2nd largest increase in research power rank nationally, moving us up 26 places to 36th in the country. Theology and Religious Studies also performed particularly strongly in the REF, with almost a quarter of research ranked 4* or world leading, ranking joint 3rd in the country for impact.

Due to the improved REF submission, the University will receive a 61% increase in Research England funding in 2021/22, moving to £1,798,146 in 2022/23 compared to £1,116,974 in 21/22. Mainstream Quality Related Funding (QRF) will increase from £847,654 to £1,489,169.

In 2021/22, Research & Innovation income, over and above that received from Research England, increased by more than 25% in 2021/22, compared to the previous year, from £1,716,874 to £2,149,706, with increases across all areas (grants, consultancy, and CPD).

2021/22 also saw significant success for the Doctoral School, recording its largest annual number of doctoral completions (30).

In 2021/22 Research & Innovation undertook a major review of all monitoring, audit and reporting processes relating to R&I income. This review directly impacted on the HE-BCI reportable data influencing KEF and HEIF, its success is reflected both in improved Knowledge Exchange Framework (KEF) results in KEF2 and increased Higher Education Innovation Funding (HEIF), from £269,320 to £308,977.

KNOWLEDGE EXCHANGE

The University is making very clear progress in at least six of the metrics in KEF2, particularly in the CPD & grad start-up perspective, where the University is above the cluster average for one perspective. However, this improvement only reflects the number of start-ups, rather than their success. The need for the increased number of start-ups to generate income will be a priority area for 2022-23.

Most of Winchester’s KEF2 metrics are either equal to or above the cluster (M) average quintile for the relevant perspective.

FUTURE DEVELOPMENT

Following the results of REF2021, a Research Review was initiated. The first phase of which explored the viability of UoAs and Research Centres, the second of which will revise the promotion and progression pathways for academics. Our focus for the coming year is on research excellence, as we consider the results of the recent assessment exercise and plan for future growth.

With substantial new data in hand, especially REF2021 and KEF2 results, the strong and developing team in R&I are well prepared to deliver on major institutional priorities for Research & innovation determined by the new University Strategy in 2023.

Case study

The HELP (Health Enhancing Lifestyle Programme) is a community-based exercise and education programme that supports the health, wellbeing and recovery of individuals diagnosed with stroke.

This programme is a collaboration between the University of Winchester, National Institute for Health Research (NIHR) Applied Research Collaboration (ARC) Wessex, Hampshire Hospitals NHS Foundation Trust, and in particular the Hyper-Acute Stroke Unit, and Hobbs Rehabilitation, an independent provider of neurophysiotherapy.

The programme has been running for 3.5 years, and during academic year 2021/22, the programme resumed the delivery of face-to-face exercise classes following a short hiatus whereby only online exercise classes were delivered due to the Covid-19 pandemic.

Data collected from participants in the programme is embedded within a Health Research Authority ethically approved research study. Findings from this study will be available in academic year 2023/24.

Case study

University researchers are currently working on a project dedicated to unearthing indigenous Caribbean contributions to Western botanical knowledge, as one of ten projects funded by the Arts and Humanities Research Council (AHRC) and the Natural Environment Research Council (NERC) as part of their ‘Hidden histories of environmental science’ call which seeks to understand how the future of modern environmental science can be informed by the past.

This project will digitise the Dr Alexander Anderson archives held by the Linnean Society and the Natural History Museum, including his important Hortus St Vincentii which details the plants growing in St. Vincent’s Botanical Garden (SVBG) in 1800, and includes a number of botanical illustrations. Several of these are by John Tyley, a young African-Caribbean man; at this time, it was very unusual for botanical illustrations to be signed, especially by an African-Caribbean.

Digitisation of Anderson’s Caribbean natural histories, and his details of plants growing in the SVBG, will allow global on-line access to these important historic resources for the first time. The project will also interrogate the digitised archive against wider material; letters sent by Anderson held at Kew Gardens, and receipts relating to SVBG and further plant catalogues held at the National Archive.

The entire Anderson archive will then be analysed to detect and document the contributions made by the indigenous (Carib/Garifuna) and enslaved African peoples whose knowledge and physical labour fed into successful development of SVBG, and western scientific knowledge more generally.

TO SERVE THE COMMON GOOD

Contribution to the city and region: business and health

We are proud to be the University of the city of Winchester, and to make a significant contribution to the city and wider region. Independent economic impact analysis has shown that the University contributes more than £266m to the regional economy. We are a major local employer, and also the provider of a much needed local workforce, contributing nearly 10,000 jobs a year into the regional economy.

We work hard to support the community in many different ways. The University holds the Social Enterprise Gold Mark in recognition of its works as a social enterprise, creating benefits for people and the planet. Additionally, in 2021, the University of Winchester Business School was awarded the Small Business Charter Award in recognition of its support for small businesses, student entrepreneurship, and its commitment to the local economy.

We are also a provider of the Help to Grow: Management programme, a UK government initiative to help small- and medium-sized businesses boost their business performance and growth potential. We are an active corporate supporter of the work of the Winchester Business Improvement District to sustain and grow business in the city. Each of these initiatives underlines the University’s commitment to the local business community and to being a good corporate citizen.

The city of Winchester is regularly voted as one of the best places to live in the UK. The University campus

is also a compelling mix of old and new, offering a traditional learning environment with a stunning contemporary twist. Our most recent development is the £50 million learning and teaching building, the West Downs Centre.

Opened in 2021, the Centre, which has strong green credentials, this building was one of the first university projects in the UK to be registered for WELL Certification, an accreditation scheme recognising buildings that support and advance human health and wellbeing. The West Downs Centre has won a number of national and international awards, including the coveted World Architecture News Gold Award and the Civic Trust award, where the judges recognised not just the enhancement of the University teaching facilities and campus, but also of the wider neighbourhood.

The University’s Faculty of Health and Wellbeing, launched in 2019, is already making a significant positive impact. In partnership with Hampshire Hospitals NHS Foundation Trust, the University launched a Global Health Hub, bringing together the academic, clinical, charitable and educational skills of their staff to undertake collaborative health work across the world.

One of the first projects initiated by the Hub aims to help improve palliative care in Ghana. Currently, the project team is working with Ghanaian colleagues to collaborate on future plans to build hospices across the country, whilst undertaking research and data gathering exercises. The project looks to support a future nursing and knowledge exchange programme alongside academic work over the coming years.

Student physios and the Commonwealth Games

In the Summer of 2022, some of our student and staff physiotherapists supported world-class athletes competing in the Commonwealth Games 2022 in Birmingham (28 July - 8 August, 2022). Physiotherapists played a significant part in the successful delivery of the Games, with volunteers treating both athletes and spectators.

A month before the Commonwealth Games began, Fijian Commonwealth and Olympic swimmer Cheyenne Rova was attending a training camp at the Winchester Sport and Leisure Park at Bar End, when she started to develop shoulder pain that prevented her training.

On behalf of the University’s Winchester Health Clinic (based in the Leisure Park) first-year BSc (Hons) Physiotherapy students Josh Jones and Ellie Gribben undertook an initial assessment with Cheyenne to gain an insight into her training schedule and current physical function, as well as starting to hypothesise what her injury might be.

With the support of The University’s Health Clinic Manager Liam Newton, Cheyenne was further assessed and a treatment plan was developed to help get her back to fitness.

Liam said: “As the start of the Games was so close, we were able to see Cheyenne weekly over four weeks during which Josh and Ellie assisted in the progression of her treatment and got her back to being able to swim pain free.

“It was a fantastic opportunity for both of them to see the demands and commitment of an elite swimmer

prior to a major sporting competition.”

“Sadly, Cheyenne did not win a medal, but to have even got to the Games is a huge achievement given that she was unable to swim a month before. That said, this was a unique experience for two of our first-year Physiotherapy students,” he added.

Ellie said: “Treating Cheyenne as a professional swimmer was a great experience to have as a student in physiotherapy. It gave me an insight into how I would approach a more advanced case in the elite sporting field as a physio in the future.”

The Winchester Health Clinic has been set up by the University of Winchester to provide high-quality physiotherapy assessment and treatment to the local community. Undergraduate students on the BSc (Hons) Physiotherapy degree programme work alongside Health and Care Professions Councilaccredited (HCPC) Physiotherapy practitioners in the Clinic during placements as part of their studies.

In April 2022, we opened our clinical skills training facilities at the West Downs Centre, bringing state-of-theart nursing education to the heart of

our campus. We are working closely with hospital trusts across the region to deliver the workforce of the future, meeting local needs by educating outstanding and compassionate health professionals. Our students also help to maintain the health of the local population, for example, by offering high quality and accessible physiotherapy assessment and treatment in the Winchester Health Clinic.

In addition, the University is conducting research on ways to tackle loneliness in Hampshire as part of a coalition which received a share of almost £5 million allocated by the Department for Transport for pilot projects to understand how transport can play a role to help people feel less lonely. The coalition received £566,876 to deliver three projects aimed at reducing loneliness amongst rural and urban populations in the county.

Schools

We work closely with local schools in a variety of ways. Sometimes this is in collaboration with other local organisations, such as in August, when ginkgo seeds from a tree that

survived the nuclear attacks on Japan at the end of World War Two were planted at the University, as part of an international peace project. The joint Ginkgo Tree Project between the University, the Winchester Mayoralty and Winchester members of SGI-UK, aims to promote peace, anti-bullying and sustainability in schools.

We have educated outstanding teachers for over 180 years, and we are the proud sponsor of the University of Winchester Academy Trust, which comprises five fantastic primary schools. Just as the University is driven by its values, these schools deliver values-based education and seek to provide children with an inspirational education. The partnership has led to some exciting joint projects. For example, this year, a new ‘Creativity Collaborative’ led by the University and the University of Winchester Academy Trust secured a £360,000 grant from Arts Council England to revolutionise creativity across the curriculum in schools.

Culture

The University continues to make a significant contribution to the cultural life of the university city of Winchester. We produce high quality musical and theatre productions, contributing to the programme at the Theatre Royal.

We sponsor local festivals such as the Hat Fair and Winchester Fashion Week. We are also proud to work with our artist-in-residence, the award-winning Blue Apple Theatre company.

CASE STUDY

A striking art installation was created in the University of Winchester’s West Downs Gallery in the summer of 2022, with visitors from the community working with artists on a sculptural work representing sanctuary.

‘Open Sanctuary’ was a sculpture made from hundreds of individual ceramic balls which, formed a circular space for visitors to sit quietly and meditate on what ‘searching for sanctuary’ means for them.

In a series of workshops led by artists Fiamma Colonna Montagu and Sam Selwyn Bazeley, participants were guided through a meditation whilst creating a ceramic ball using natural clays. After firing, each ball will be slotted onto a large circular armature to slowly build the sculpture, until the work is complete.

The hope is that after the exhibition the sculpture will find a permanent home in the city of Winchester as a space for residents and visitors alike to gather, whatever their faith, to be able to meditate on what ‘searching for sanctuary’ means for them individually.

Meeting UN Sustainable Development Goals

The University is committed to working across all academic disciplines and support services to help address the development challenges facing the world today. We work extensively with partners inside and outside Higher Education to address Global Goals. The University is also committed to continuing our PRIME Business School status.

EMBEDDING THE SDGS ACROSS THE WHOLE INSTITUTION

We are committed to supporting the United Nations Sustainable Development Goals (SDGs) –‘recognising that ending poverty and other deprivations must go hand in hand with strategies that improve health and education, reduce inequality, and spur economic growth- while tackling climate change and working to preserve our oceans and forests’ by 2030. (SDGs. un.org/goals)

Our continued commitment to embedding the SDGs in all our

Undergraduate and Postgraduate programmes underlines our growth, passion and commitment. It enables our students to embark on future careers with a sustainable development focus. In addition, it fosters our academics to identify research and partnerships to help realise the SDGs, particularly where solutions are most urgently needed.

COLLABORATIVE APPROACH FOR DEVELOPING RESPONSIBLE MANAGEMENT EDUCATION

A collaborative approach to developing responsible management education continues at Winchester,

including working with other valuebased organisations committed to embedding the SDGs. One example of this is the Students Organising for Sustainability (SOS)- the sustainable charity of the UK National Union of Students (NUS) and its ‘Responsible Futures’ Programme. This takes a whole institution approach and uses the framework encompassing both the SDGs and the University’s values. Using this process has ensured that the SDGs are embedded across all the faculties of the University.

University of Winchester

Environmental sustainability

We are widely recognised as one of the leading universities in the UK for environmental sustainability and carbon management. We aim to become the lowest-carbon UK university campus by 2025. Having solely used 100% renewable energy since 2008, our new low carbon plant and equipment will save just over 2.7 million kWh a year. We recently joined the Carbon Coalition, a sector group dedicated to offsetting emissions through leveraging combined buying power. Our commitment to sustainability extends into the curriculum, with climate change education being rolled out across all courses. Aligned to this are measures covering carbon emissions, water usage, and the amount of waste produced by the institution.

PUBLIC SECTOR DECARBONISATION SCHEME

In 2020/21 we were awarded a grant of £3.12m from the Public Sector Decarbonisation Scheme, to help us to become one of the most carbon-efficient universities in the UK. This signalled the start of our significant capital investment programme in innovative low carbon plant and equipment.

The programme is nearing completion and has seen the replacement of 35 gas boilers with low energy air source heat pumps; a lighting upgrade to replace existing older-style lighting with low energy LEDs; an upgrade to the Building Management System to optimise energy consumption in buildings; and the installation of two large solar photovoltaic arrays designed to produce on-site electricity generation at peak times.

This grant underlines the significant progress we have made since 2006 when we started our move away from fossil fuels, by reducing our emissions, increasing investment in energy efficiency measures, increasing installation of renewables, switching to electric vehicles and the procurement of renewable electricity.

RENEWABLE ENERGY

We have used 100% renewable electricity since 2008 and switched to 100% green gas in September 2020, making us almost carbon neutral from energy sources. 2021/22 also saw onsite electrical generation increase of 105% with the installation of a further 151Kw of solar photovoltaic panels.

“

Once installed, the low carbon plant and equipment will support savings of over 500 tonnes of carbon dioxide a year, with Scope 1 and 2 emissions falling to almost zero, which equals financial savings of up to £100k

Gavin Hunter Chief Operating Officer

PEOPLE & PLANET LEAGUE TABLE

Each year People and Planet (the UK’s largest student campaign network) release a University League table ranking all UK universities by environmental and ethical performance.

In the 2021/22 league table the University of Winchester successfully achieved 1st class university status- ranking 26th out of 154 universities.

PLASTIC FREE UNIVERSITY STATUS

We are delighted to announce that in July 2022 we were officially awarded our Plastic Free University status from national charity Surfers Against Sewage (SAS).

This award of ‘Plastic Free Communities’ Status highlights the work and commitment as an institution we have made to tackling single-use plastics. It by no means signals we are plastic-free, and we do not claim to be, but we are clear that we view SUP as a problem and have made a commitment to do what we can feasibly to remove them from our operations.

WASTE AND RECYCLING

The university has achieved zero waste to landfill since 2013 and 2021/22 saw significant improvements in its recycling rate, reaching 75% of its total waste generated. This percentage increase has been helped in part by the introduction of food waste recycling in all halls of residence.

HEDGEHOG FRIENDLY CAMPUS-GOLD AWARD

The University of Winchester has been recognised for its hedgehog-friendly campus with a prestigious Gold Hedgehog Friendly award from the British Hedgehog Preservation Society (BHPS).

The Gold award comes after three years’ hard work which began in 2019 and has seen students and staff create hedgehog friendly habitats, set up feeding stations and help to survey hedgehog activity on campus.

The many initiatives undertaken as part of creating a hedgehog-friendly environment included a collaboration between the University and neighbouring Royal Hampshire County Hospital (RHCH) to make Burma Road – which bisects the University’s main campus and the RHCH site - the first in Winchester to install road signs requesting drivers to slow down in case there are hedgehogs crossing.

The University of Winchester is one of 13 universities across the UK to achieve Gold status in 2022.

The accreditation follows the team’s successful Bronze accreditation in the 2019/20 academic year and a Silver accreditation in 2021.

FLEET VEHICLES

By the end of 2021/22, 48% of fleet vehicles had been switched to electric vehicles as part of our journey towards our target of net-zero carbon emissions by 2025.

CARBON OFFSETTING

In 2020/21 Winchester joined the Carbon Coalition led by the Environment Association of Universities and Colleges. This sector group worked together to improve the process for gathering scope 3 emissions data and also set up a catalogue of good quality and verified carbon sequestration and retirement opportunities for the member organisations. 2021 saw the university’s first procurement of carbon credits which equated to our verifiable scope 3 emissions from waste, water and business travel and the remaining scope 1 emissions from internal combustion fleet vehicles.

The university has committed to do the same going forward for each reporting year, with carbon credits to be purchased for the same emissions sources.

Procurement and value for money

The Office for Students terms and conditions of funding for higher education institutions (ref 2019.12) requires our Board of Governors to demonstrate that it uses public funds for proper purposes and seeks to achieve value for money from public funds.

At Winchester, the responsibility for value for money is delegated to management and the Board’s responsibility is discharged through proper scrutiny of Winchester’s affairs and through exercising appropriate oversight of strategies and policies.

At Winchester, we believe that there is a clear relationship between how we create value and the value for money we provide to stakeholders. Value for money is about maximising the value generated from our financial capital.

We also deliver a value impact for society and have a strategic target to foster stronger recruitment from groups currently under-represented in higher education, by working to raise aspirations and break down barriers to participate, such as those created by culture, geography, social and economic factors.

Direct cost savings are achieved through active contract engagement, management and robust tender processes. The University promotes purchasing professionalism in engaging with its suppliers. It is responsible for establishing and managing effective commercial arrangements to deliver Winchesters purchasing requirements at best value for money against time, quality and budget.

Winchester also benefits from a number of local and national purchasing consortia and partnerships to secure competitive commodity prices and discounts on our strategic and high-spend areas of our business. Through these consortia and frameworks, we are able to realise significant savings and to strongly influence supplier behaviour.

For example, we expensed approx. £4.5m of addressable spend through our Southern Universities Purchasing Consortium (SUPC) frameworks in 2021/22, realising over £600k of savings. The majority of Winchester’s SUPC addressable spend is associated with computer supplies and services, the remainder based on furniture, library, travel, catering and publications. Other purchasing consortia and framework providers used by Winchester include:

• GOV.UK – via Crown Commercial Services (CCS)

• Eduserv – for the purchase of software licences

• iESE – construction framework

• JISC – for broadband purchasing

• NHS – TDS Framework

• Southern Universities Construction Consultancy Affinity Group (SUCCAG)

• The Energy Consortium (TEC)

• The Society of College, National and University Libraries (SCONUL)

• TUCO – the leading professional membership body for in-house caterers

• CPC - Crescent Purchasing Consortium - Education sector purchasing frameworks

The aforementioned organisations consistently offer the sector value for money, often through rates specifically negotiated for the Higher Education sector.

By channelling approximately 30% of the value of our addressable spend through framework agreements arranged by higher education and public sector purchasing consortia, we ensure that our suppliers have been stringently reviewed for anti-modern slavery compliance. The particular business and supply chains which may pose particular risks in terms of slavery are in IT and AV equipment, construction and uniform/clothing supplies, the majority of which are purchased through these frameworks.

Supplier engagement

POLICY AND STRATEGY

Winchester’s procurement strategies are well developed and aligned with the institution’s sustainability policies. The University has robust procurement policies, and sustainability has been embedded into these practices. Staff involved in buying activities have been fully trained on our procurement approach and how this should align with Winchester’s environmental objectives. Limiting the impact of our procurement activity on the environment is at the forefront of all our engagements with our supply markets.

The strength of these policies was reflected over the past year where we have continually selected suppliers through competitive process using award criteria heavily weighted in support of environmental and sustainability criteria in line with university values. A good example of this was the recently awarded Travel contract. This was a key service for the University and an extensively used requirement. Environmental and Sustainability criteria were weighted at a significant 20% and this had the impact of not only deciding the right company to partner with, but also in dramatically shaping the nature of how the University makes travel decisions throughout its activities.

Our new travel partner will always provide a combination of extensive content, intellectual routing, and logic engines meaning the University will always be presented with the best price and the most environmentally sustainable options.

Over the last 12 months the University has carried out 16 full tenders. All contracts have been carried out in line with Public Contract regulations ensuring the University remains fully compliant in these areas of expenditure. They have been awarded against value for money criteria that focused on whole life costs, quality and service levels as opposed to price alone.

STAKEHOLDER ENGAGEMENT

Stakeholder engagement is carried out through tender user groups. It forms an extremely important part of the value for money process, ensuring end user expertise is combined with a commercial professional procurement approach. For example, with Winchester’s travel management requirements. A diverse user group was formed to agree policy around using the service before going to tender. Issues such as managing carbon footprint, using trains whenever possible instead of flying, and even decisions around the need to travel, have all been discussed, debated and incorporated into the tender, along with CO2 reporting.

FAIR TRADE CONTRACTS

Winchester has a strong reputation of supporting many Fairtrade initiatives, particularly in catering and hospitality. We have been able to tap into many TUCO contracts which have delivered a host of products to staff and students. We have also set out to establish these initiatives in other areas, such as clothing. It is our aspiration to use environmentally and sustainably resourced clothing wherever possible, whether they are Fairtrade, WRAP or Fit for Purpose products. We are committed to the principles of sustainable development, environmental management and protection of biodiversity.

ELECTRONICS WATCH

Winchester continues to be a proud affiliate member of Electronics Watch, an organisation that aims to improve working conditions in the global electronics industry. The decision was made to ensure that employees working for companies supplying ICT equipment to Winchester are treated fairly, and that the companies themselves operate to an acceptable ethical standard.

Electronics Watch aims to help public sector organisations by being their eyes and ears on the ground in areas of the world where their ICT and electronic products are made. Becoming a member of Electronics Watch is testament to Winchester’s commitment to meeting the highest possible ethical and social standards when it comes to procurement.

MODERN SLAVERY

Our Modern Slavery Statement is designed to satisfy the requirements of Part 6, Section 54, of the Modern Slavery Act 2015. Winchester’s Financial Regulations, Procurement Policy and Procedures and Ethical Investment Policy state our commitments to the highest standards of ethical conduct in all activities, along with making continuous improvements in this area.

We do not engage in, or condone, the practices of human trafficking, slavery or forced labour. We are committed to improving our business practices to combat modern slavery and human trafficking and to ensure that we are not complicit in any human rights violations. We are committed to zero tolerance of slavery and human trafficking or child labour practices.

We mitigate the risk of modern slavery occurring in our workforce by ensuring that directly employed staff are recruited by following robust HR recruitment policies and checks. There is a whistle-blowing policy in place for members of staff to raise any concerns about wrongdoing by Winchester. Staff employed on a temporary staff basis via agencies are only recruited through established sources who can provide assurance that they comply fully with the requirements of legislation relating to the rights and welfare of their candidates and employees. Our Ethical Investment Policy has been developed to reflect Winchester’s commitment to ensuring that our investments are not complicit in any human rights violations. To this extent Winchester does not knowingly invest directly or indirectly in organisations that breach human or animal rights, or that are in breach of the Modern Slavery Act 2015.

Our Modern Slavery Statement is published on our website and reviewed on an annual basis. It can be found at: www.winchester.ac.uk/media/content-assets/ documents/Modern-Slavery-and-Human-TraffickingStatement-2022.pdf

Understanding Winchester’s risks

We define risk as the potential effects of uncertainty on achieving objectives, which can take the form of adverse consequences or unexpected opportunities.

As with most institutions, risks are inherent in all activities, Winchester undertakes new risks in pursuit of its strategic objectives. Effective risk management is about ensuring all significant, relevant risks are understood and prioritised as part of standard management practice to increase the probability of successful outcomes, whilst protecting Winchester’s reputation and sustainability. To create longterm value, we must anticipate the risks threatening our institution, customers and stakeholders, whilst still capitalising on new opportunities offered by an ever-changing world.

We must maintain a dialogue with internal and external stakeholders to identify those risks and opportunities. These are illustrated in our Risk Register, which includes vital business and sector risks, as well as some specific to Winchester and key customers and stakeholders.

Our Board of Governors has delegated authority to the Risk and Audit Committee to oversee risk management, including monitoring the Risk Register. This ongoing review enables Winchester to identify material issues that are most likely to affect value creation, strategic

objectives, service delivery and assets. We undertake a systematic and methodical identification of key risks and identify measures to mitigate them. Whilst risk cannot be completely eliminated, the approach of the Risk and Audit Committee is to be ‘risk aware’ rather than ‘risk averse’, by taking intelligent risks to protect strategic objectives. Illustrated in this report is the most recent update of our Risk Register, presented to the Board of Governors on the 6th July 2022.

The risk that, with the Office for Students revised B conditions, one or more of the University’s courses fall below the threshold Standards.

The University has significantly enhanced its approach to Teaching Quality by: restructuring the Academic Quality and Development team to explicitly focus on compliance with the OfS B Conditions and TEF Outcomes, by replacing the Annual Programme Evaluation process with Programme Improvement Plans and by implementing an Action Plan Process for any courses falling below standards. The University has also identified Teaching Quality as a pillar for the new Strategic Plan which is being developed for launch in January 2023 which will ensure Teaching Quality remains at the centre of everything the University does.

The risk that Winchester fails to attract the required number of students to remain sustainable.

On beginning to emerge from the Covid-19 pandemic, we adapted our recruitment activities to be back on campus. Throughout the winter, we continued the return to on-site open days, complimented with the new and enhanced virtual tours, faculty open events, video interviews and additional videos of campus facilities. The introduction of a new brand for Winchester ‘the place to become’ was a key improvement that tripled levels of engagement and resulted in significant growth in applications received. The focus going forwards for the institution is on conversion from applicant to student.

The risk that Winchester sees a high level of student dissatisfaction and a significant decline in student wellbeing.

Student experience and wellbeing are incredibly important to us and during the pandemic continued to be a large concern. Consequently, we reviewed our mental wellbeing support offerings, student enquiries provision and student support policies to build on the provision for the 2021/22 academic year. This included the introduction of ‘Academic Safety Net’ and the extension of additional mental wellbeing support options. With a strong focus on engagement across the institution, we will continue to maintain a high-level of communication with students through strategies including engagement activities, evening and weekend help points for students in libraries, and formal weekly contact with selfisolating students. We are also progressing the development of a digital ‘one-stop shop’ for student enquiries and help.

The risk that Winchester’s income decreases or costs/ provisions increase, and not being able to service Winchester’s debts or satisfy loan covenants sufficiently, putting the financial sustainability of Winchester at risk.

We have identified several mitigations for risks to our financial sustainability as we emerge from the pandemic. We successfully secured £4m of government support through capital project funds. We continue to consider cost reduction options to mitigate inflationary increases beyond expectations. The investment in international student growth is key to revenue growth whilst we also continue to strategically invest in our Health and Wellbeing faculty courses. We will continue to maintain a culture of costeffective control and budget holder responsibility during the year and will also continue to increase our incomegenerating activities, bidding for public and private grants and building on our approach to fundraising.

The risk that Winchester has poor rates of graduatelevel employability compared with the rest of the sector and competitors.

We published our new Graduate Employability and Higher Study Strategy in summer 2020, which outlined how we would ensure that all programmes of study focus on employability and have high graduate employability with our new Winchester Employability fund. We also opened a brand-new Careers and Opportunities Centre on our King Alfred Campus. Both the strategy and the physical space to support students has had a positive impact, significantly increasing the touch points and services available to students. The dedicated career advice sessions and webinars,the two ‘Employability Weeks’ a year, and the offering and promoting of new graduate internship opportunities and work placement modules throughout different programmes are some of the examples of these opportunities.

The failure todeliver adequateIT infrastructureand services alongsidethe right built environment of a kind a quality sufficient to meet the expectations of students and staff.

The rapid growth of the University over the last fifteen years alongside the continual developments in technological solutions and changes in ways of working and learning require both IT and Built Environment infrastructures to continually adapt to be up-to-date, relevant and conducive for students and staff to be successful. To improve the staff and student experience, we developed our mobile app and upgraded our wireless provision across campus. To support home and distance working and learning, we provided staff with University managed laptops and continued to offer our laptop Loan Scheme. To improve the built environment we have delivered new bespoke teaching spaces in Health and Wellbeing including two mock-up wards and a new nutrition and dietetics bespoke teaching space whilst also bringing into full use the brand new West Downs Centre.

The risk that the security of Winchester’s systems and network is compromised, leading to loss of critical services and/ or loss or exposure of sensitive data.

The sector continues to face cyber-attacks which are exploiting out of service and end of life hardware. We continue to preserve our close professional relationship with JISC, working with JANet and Cyber teams to share knowledge, review and mitigate sector-wide IT, information, and data security threats. We also have in place a continued service contract with Orange Cyber Security. We have undertaken a business continuity exercise in cyber incident response and will have implemented all actions from the lessons learned by December 2022.

The risk that Winchester is adversely impacted by government policy, funding, and rhetoric.

Our scenario planning and financial modelling have been based on potential Governmental policy changes, and we have maintained close engagement with Universities UK and Guild HE to ensure we understand sector issues and they understand Winchester’s perspective on issues. Daily briefings from WonkHE and other sector sources have helped us to keep abreast of the changing policy landscape. Despite the Government rhetoric of ‘low value’ courses and policy pushes towards HE alternatives (such as FE and vocational training) that threatens to have a negative impact on our reputation,we have achieved Ofsted Outstanding recognition for all aspects of our education provision, an upward trend in PGITE recruitment, and a national reputation for successful consortium leadership and delivery of PgCert SENCO accreditation. We have also appointed a Director of Policy and Projects to ensure are horizon scanning for proposed or actual changes to Government Policy, ensuring the Institution is ahead of and in a position to respond proposed or actual changes as they arise.

A decline in staff motivation and morale could seriously detriment Winchester’s performance by negatively impacting staff commitment, engagement, and willingness to expend discretionary effort.

The Covid-19 pandemic caused generalised anxiety,increased stress and mental health difficulties along with social isolation for some throughout prolonged home working periods. In response, we offered a varied and diverse range of staff wellbeing resources and events,an enhanced wellbeing platform with a huge range of shopping discounts, and a 24/7 employee helpline. We also introduced extra staff counselling provision, a reading week into each semester, and allowed our staff to carry up to 10 days of leave into the next year. Deans, Directors and HoDs were trained as Mental Health First Aiders and made occupational health referrals where appropriate,with assistance and guidance from HR made available to managers on handling people management issues. Work to improve the experience of hybrid teaching for both staff and students is ongoing.

The risk that Winchester has an Ofsted inspection at 2 days’ notice and is unprepared. The consequence of failing an Ofsted inspection will risk our ability to offer degree apprenticeship programmes, and our wider provision.

The new team structure supporting our Apprenticeship programmes, our operational Governance plan and our increased understanding of requirements through staff training and development have significantly strengthened our provision of Apprenticeships against the OfS requirements. The university continues to develop its approach to Apprenticeship provision however, including the implementation of dedicated software to support professional management and reporting. The University continues to engage in Ofsted Action Group meetings, working through recommendations and action plans to continually improve and strengthen this area of our provision.

Financial review

This is the third year in which COVID-19 has created challenges for our students, staff, other stakeholders and the wider financial environment. As is detailed within the financial analysis, the pandemic has had a significant impact on the financial outturn of the University. However, the University during this turbulent time, remains in a strong financial position in both being able to report a surplus and growth in the year end cash position.

We have confidence as we develop and launch our new strategy in January 2023 that we will be in a strong position to ensure we have an aligned financial plan and resources in place to protect Winchester’s financial position whilst enabling the University to prosper and deliver its 2030 ambitions.

As the impact of the pandemic lessened the second half of the year was affected by higher costs, driven by economic factors including the conflict in Ukraine, which are impacting inflation, foreign currency fluctuations and interest rates. The University faces these new set of challenges in a good financial position.

Key performance indicators (KPIs) are used by the Executive Leadership Team and Board of Governors to assess the University’s performance.

KPI HIGHLIGHTS

The KPIs cover a number of operational areas from student satisfaction to student employability. The financial KPIs reflect those used by the funding bodies and banks.

EBITDA refers to the Earnings Before Interest, Tax, Depreciation and Amortisation. Earnings are taken before FRS 102 pension adjustments as is common with the sector. This KPI is a strong measure of the University’s ability to generate cash since it is less susceptible than total surplus to changes in non-cash movements (such as depreciation). The EBITDA outturn of £12.7m (2020/21 £16.3m) despite being lower than the previous year still represents a strong performance. Whilst EBITDA can be used as a measure of cash generation, net cash inflow from operating activities provides a clear marker of the cash

the University is generating each year to service its investing and financing activities. The net cash inflow from operating activities for 2021/22 was £12.9m (£17.0m 2020/21) and shows the University’s strength in being able to generate cash during challenging times.

Staffing costs as a percentage of income is reported widely within the HE Sector. However, in recent years this KPI has primarily reflected the impact of pension costs and other on-costs associated with staffing rather than a salary or staff FTE increase. Staffing to income has increased from 53.9% in 2020/21 to 58.0% in 2021/22, comparable to 2018/19. Although some of this increase is due to the one-off adjustment to the USS pension provision.

The net cash to borrowing is derived from the total of cash and investments less the capital amount of bank debt outstanding at the year-end. During the year £1.3m of capital was repaid, whilst cash and investments increased by £6.7m, resulting in the net cash position (i.e cash exceeding borrowing) increasing to £10.2m (2021/22 £2.2m).

Total cash and cash investments at the end of the year was £41.8m (£35.1m 2020/21).

Financial environment

The capital investment in the new £50m West Downs building three years ago resulted in both cash reducing (as a significant element of the cost was funded from internal reserves) and borrowing increasing. The £19 million improvement in cash (and investments) in the last two years has resulted in the University ending the year with over £10m more cash than borrowings. This provides the University with the financial flexibility and headroom to be able to invest in its infrastructure, it’s staff

and its future student offering. This Financial Review puts the year in perspective and outlines our financial environment, finance strategy, financial performance and our future outlook.

Although the University has been able to report strong financial results for 2021/22 during the period of the pandemic, the financial environment in which it operates has, and is set to become, even more challenging.

On the 24th February 2022 the government announced that the tuition fee cap would be frozen for a further two years – up to and including 2025/26. The £9,250 cap has not been adjusted for inflation since 2017/18 and means that by 2025/26 the maximum fee cap will have been frozen for 8 years.

During the time the £9,250 cap has been in place, inflation has been at historically low levels, allowing the University to be able to prosper through increased student numbers whilst controlling its costs. However, inflation has been steadily rising during the year, from 3.2% (CPI) in August to 10.1% in July 2022 and is set to continue to be at high levels in the forthcoming year. The capacity for the University to absorb increased costs whilst maintaining the student experience and quality of teaching will become increasingly challenging.

As well as the re-emergence of inflation, interest rates which have again been at a historically low level since the 2008 banking crisis, have been rising in 2021/22, from 0.1% at the beginning of the financial year to 1.25% by the balance sheet date.

The outlook for interest rates looks increasingly bleak for 2022/23 as interest rates continue to rise. The University has already mitigated the risk of rising interest rates by fixing its bank loans for extended periods. Aside from £10 million of the Triodos Bank loan which is on a variable rate, the remaining £20 million is fixed until 2028. The Allied Irish Bank loan is fixed until 2031.

In England there has in recent years been a demographic downturn in the number of 18 to 21 year-olds, thus reducing the pool of students that could go on to University. This decline has now ceased with the number of 18 to 21 year-olds once again rising and this provides a positive environment for the University to grow its student numbers.

At a local level the University has faced another challenging year, including:

• Difficulties in filling vacancies due to the competitive employment market

• Catering operating on a reduced basis due to the pandemic.

• There was negligible conference activity in summer 2021, although there was a successful summer 2022 conference trade.

• The pandemic restricted the ability to conduct research during the year

• International student recruitment was affected by travel restrictions (e.g to Norway), although the University was successful in its growth of international students from India.

The University continues to undertake a risk review of its supply chains to identify high-risk areas for further contingency planning. Wherever possible, the University seeks to secure local supplies to promote the local community and the environment.

Finance strategy

The financial strategy is designed to empower Winchester to exceed its potential and deliver the Strategic Vision 2030. It has been drafted with reference to these five principles;

1. Long-term viability and matching resources with objectives

2. Maintaining productive capacity to meet current objectives

3. Financing development and investment

4. Evaluating strategic alternatives and managing risks

5. Integrating financial and other corporate strategies

In light of the current financial environment the Finance Strategy outlines the strategic priorities for the year ahead.

Financial sustainability – to remain financially sustainable and generate sufficient cash to support the strategic objectives and provide institutional sustainability.

Operational efficiency – to continuously improve efficiency and effectiveness- by managing the cost of operations and delivering value for money whilst continuing to maintain a sustainable recurrent investment in the academic, corporate and support operations.

Capital investment – to ensure the maintenance of the estate and future strategic investment to support the delivery of excellence in education. To also ensure capital investment is at a level that will not put the University at financial risk.

Treasury Management – to assess and manage risk in all of University’s growth and development activities and to operate sound treasury management as outlined in the Treasury Management Policy. In order to assess the performance against the Financial Strategy, the Board of Governors monitor a number of KPIs.

Financial performance

This year has again been impacted significantly by the pandemic, albeit to a lesser extent, particularly in the latter months of the financial year, than was the case in 2020/21. Income has remained strong and increased whilst expenditure has continued to be supressed and has remained below pre-pandemic levels. Careful cost and cash flow management has enabled the University to remain financially strong during this challenging pandemic environment, with the University reporting a surplus as well as an improvement in the cash and investments position.

INCOME

Total income for the year was £86.3m, a 2.3% improvement on 2020/21 (84.4m).

Tuition fees and education contracts accounts for 79% of total income and remains unchanged at £68.3m. However, within this total are some significant changes. Full-time home student income has reduced by 3.9% to £58.9m.

TOTAL INCOME (86.3m)

Tuition fees and education contracts

Funding body grants

Research grants and contracts

Other income

TUITION FEE INCOME (68.3m)

Whilst student numbers have continued to increase in the growing Faculty of Health and Wellbeing, this increase is being offset by declining numbers on existing courses. The University has, however, been extremely successful in significantly increasing the number of international numbers, particularly full-time post-graduate students from India, and this is reflected in a £1.8m (45.5%) increase in full-time international student income. Parttime income has increased due to an increase in short courses being offered, particularly within the Faculty of Health and Wellbeing.

Within funding body grants, the 2020/21 Office for Students core grant included a one-off £461k of additional hardship funding to help support students financially during the pandemic. Excluding this amount, the core grant has risen slightly in 2021/22 due to an increase in highcost subject grant funding relating to Health and Wellbeing students. The core research grant funding (Research England funding) is in line with 2020/21 at £0.9m.

Research grants and contracts income increased to £0.4m (£0.3m 2020/21) and has again been affected by COVID-19 restrictions resulting in many research projects being paused during the year.

increased by £2.0m to £11.2m as catering outlets re-opened and the University enjoyed a busy summer 2022 conference trade.

The raising of the Bank of England base rate in the latter months of the financial year and the increase in the cash levels being maintained by the University increased deposit interest from short term investments from £14k in 2020/21 to £98k in 2021/22.

Full-time home and EU students

Full-time international students

Part-time students

Self-financing courses

Income from Residences, catering and conferences has also been severely affected by the pandemic and last year there was negligible income from both catering and catering. This year income has

EXPENDITURE

Total expenditure for the year was £86.2m an 8.5% increase compared to 2020/21. This is due to greater staff costs both from improved headcount numbers and increased pension costs. Operating expenditure has increased but is still below the 2018/19 pre-pandemic levels:

EXPENDITURE 2021/22

Staff costs

Other operating expenses

Depreciation

Interest and other finance costs

Total staff costs for the year increased by 10.1% to £50.1m (2020/21 £45.5m). This increase was due to changes in all categories of staff costs as detailed below.

Basic salary costs increased by 7.8% to £35.2m, with corresponding social security costs also increasing by £0.3m to £3.5m. The increase reflects the recommencing of activities in the latter half of the year and the staffing of the new West Downs Building and the recruitment of staff due to the increasing number of students in the growing Health and Wellbeing Faculty.

Pension costs increased by £1.7m (17.7%) to £11.2m, due in large measure to a one-off adjustment of £1.0m in the provision in the University Superannuation Scheme resulting from the recalculation of the contractual obligation with the pension scheme for total payments relating to benefits arising from past performance as detailed in note 16. The in-year adjustment in the

Local Government Pension Scheme to reflect the difference between the current service costs and contributions made during the year increased by £0.1m to £3.2m. The increase in staff costs is reflected by an increase in headcount from 952 to 973 and fulltime equivalent staff (FTE) increasing by 16 to 819, with the increase almost exclusively within academic staff.

Other operating expenditure increased by 8.3% to £27.4m (2020/21 £25.3m). However, due to the in-year expenditure again being supressed by Government restrictions imposed in response to COVID-19, overall expenditure was still below pre-pandemic levels (2018/19 £29.0m), particularly in regard to residences, catering and conferences. Although expenditure in these areas increased in the latter months of the financial year, and expenditure was higher than in 2020/21, the £4.0m of expenditure is still well below the £5.3m reported in 2018/19.

There was no significant change in the depreciation charge of £6.2m. No depreciation charge has been made in respect of the Public Sector Decarbonisation Works (see capital additions) due to the air source heat pump units awaiting to be commissioned at the 31st July 2022.

Interest and other finance costs totalled £2.5m and showed a slight increase on the previous year of 2.4%, primarily due to the net interest on defined benefit schemes (principally LGPS). Interest of bank loans remained unchanged at £0.9m and the increases in the Bank of England base rate not having a material impact due to most of the University’s bank borrowing having been converted to a fixed rate in previous years.

BALANCE SHEET

Fixed Assets

Capital additions during the year were £6.4m with major works undertaken during the year including:

• Decarbonisation project £3.2m (also £0.9m incurred in 2020/21). The project includes the replacement of 35 gas boilers with low energy air source heat pumps. The total project cost is £4.6m, of which £3.1m has been funded by a Public Sector Decarbonisation Scheme awarded in 2020/21.

• Tom Atkinson Building Second Phase refurbishment £1.0m (also £0.4m in 2020/21), providing an additional 3 further large teaching spaces by revising the building layout and reducing offices.

• Holm Lodge £0.9m adaptation to house the newly launched nutrition and dietetics BSc (Hons) course, funded by a successful Office for Students capital funding bid in September 21.

There were no significant disposals or impairments in the year and the net book value at the year-end is £206.2m (2020/21 £206.0m)

Current Assets

Current assets increased by £7.6m to £47.9m during the year. Within this figure, cash and investments increased by £6.7m from £35.1m to £41.8m as a result of from better than anticipated operating performance in 2021/22.

Creditors

Short term creditors increased by £1.4m to £13.6m. Tuition fee deposits received in advance from international students was higher at the end of this year. Deferred income was also higher due to research and other activities being delayed due to COVID-19 restrictions.

Long term creditors increased by £1.6m to £67.4m. Deferred capital grants increased due to the successful £1.1m capital bid from the Office for Students and also the final

receipts relating to the £3.1m Public Sector Decarbonisation Scheme award. Mortgages and unsecured loans falling due after more than one year reduced form £31.6 to £30.3 as capital repayments on the Triodos Bank £30m loan commenced from the start of 2021/22, in addition to capital repayments continuing on the Allied Irish Bank loans.

Pensions

Provisions for pension liabilities decreased from £38.4m at 31st July 2021 to £12.9m at 31st July 2022.

The University has two main employee pension schemes, Hampshire Local Government Pension Scheme (LGPS) and the Teachers’ Pension Scheme (TPS) and an auto-enrolment scheme, our Higher Education Defined Contribution

Scheme (HEDCS) held with Aviva. In addition, there are a low number of members (less than 50) in the University Superannuation Scheme (USS), the National Health Service Scheme (NHSBSA) and the Church of England Funded Pension Scheme (CEFPS).

The largest scheme is the TPS, which is a statutory, unfunded government-defined benefit scheme, and as such the University is not required to provide for any pension deficits arising in the fund.

The LGPS is a funded defined-benefit scheme with assets held in separate funds administered by Hampshire County Council. The pension fund performed well during the year, closing with a net asset gain of £33.4m (2020/21 £6.8m gain).

There was a £1.1m increase in the USS provision due to a recalculation of payments due relating to benefits arising from past performance.

Cash position

Closing cash and investments increased from £35.1m to £41.8m at the 31st July 2022, with Covid-19 again this year supressing expenditure whilst income (except catering and conference activity) remained relatively stable. All bank covenants were met at the date of the Statement of Financial Position and there is no concern over meeting the bank covenants in the 12 months following the date of the signing of the financial statements.

Future outlook

After a challenging few years during the pandemic, we were so pleased to host our Graduation ceremonies in October 2022 at Winchester Cathedral. They were joyous occasions, with staff, students and family members joining together in celebration of all that our students have achieved.

The University has continued to prioritise work in partnership with our students to improve the student experience, coming out of the pandemic with a renewed focus on delivering excellent teaching and learning.. This work has led to the sizeable improvement in our National Student Survey results, moving us from 105th for overall satisfaction in the sector in 2021 to 62nd in 2022.

As we start 2022/23 our core fulltime undergraduate home student intake is 1.5% higher, 2154 compared to our final outcome of 2122 students in 2021. Continuing students, many of whom have studied during covid are 3.4% below 2021. Although fulltime home Postgraduate students are currently 15% lower than 2021 international postgraduates have increased by 30.4%. The open days for the 2023/24 applicants during September and October have had significantly higher attendees than in 2021 which provides confidence in our strategy for growth.

We approved our Budget for 2022/23 planning a deficit position. This sought to provide investment in IT and estates releasing cash accumulated over the last two years. We also planned to continue to invest in future programmes to deliver student growth ambitions.

As we begin the year and consider our longer term 5 year forecast, we have considered the challenges in the global economy and the higher inflation of 10% impacting on our expenditure. We are planning for inflation to reduce over the next 2-4 years, in line with current government predictions. Nevertheless, we recognise the need to balance our desire to invest and grow with the management of an inflated cost base.

Although 80% of our income is from regulated fees, which will remain at the current fee level with no adjustment for inflation until 24/25, we are confident that we can build on the recent success of our international student recruitment strategy to see continued growth from this market above the 10% growth in our forecast. In addition, following a 12-month review and reconfiguration of our portfolio of courses, we also anticipate achieving a realistic 10% growth in our undergraduate student numbers, with a particular focus on professional courses.

We are therefore confident that the University has sufficient resources to remain financially sustainable for at least twelve months from the date of signing these financial statements.

We delivered an improved outturn for 2021/22 and despite the 2022/23 planned deficit we have modelled a 5 year plan which meets all our covenant requirements and maintains a good cash position.

We will continue to monitor the economic factors that are impacting both ourselves and wider sector and adjust our plans accordingly. We will see the launch of our updated strategy 2030 in January which will be supported by a resource plan which ensures our long-term financial sustainability.

We are confident that Winchester is in a healthy position for a successful 2022/23.

SIGNED ON BEHALF OF THE BOARD OF GOVERNORS:

Mary Edwards Chair of Board of Governors

Professor Sarah Greer

Vice-Chancellor

Date: 30 November 2022

Statement of Board of Governors responsibilities in respect of the strategic report, the directors’ report and the financial statements

The University’s Board of Governors, whose members are also the directors of the University for the purposes of company law, are responsible for ensuring the strategic report, the directors’ report and the financial statements are prepared in accordance with the requirements of the Office for Students’ Terms and conditions of funding for higher education institutions and Research England’s Terms and conditions of Research England grant and applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year and the University’s directors have elected to prepare the University’s financial statements in accordance with UK accounting standards and applicable law, including FRS102, the Financial Reporting Standard applicable in the UK. The terms and conditions of funding also require the financial statements to be prepared in accordance with the Statement of Recommended Practice (SORP) Accounting for Further and Higher Education institutions.

Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the University and of their income and expenditure, gains and losses and changes in reserves for that period. In preparing each of the University of Winchester’s financial statements, the directors are required to:

• select suitable accounting policies. and then apply them consistently.

• make judgements and estimates that are reasonable and prudent.

• state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.

• assess Winchester’s ability to continue as a going concern.

• use the going concern basis of accounting unless this is not appropriate

Company law requires the directors to be responsible for maintaining adequate accounting records that are sufficient to show and explain the University’s transactions and disclose with reasonable accuracy at any time the financial position of the University. The directors are also responsible for such internal controls as they determine are necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. The directors also have a general responsibility for taking such steps as are reasonably necessary to safeguard the assets of the University and to prevent and detect fraud and other irregularities.

The Board of Governors are also responsible for ensuring that:

• Funds from whatever source that are for specific purposes are properly applied for the specific purpose.

• Funds provided by the Office for Students, Research England, the Department for Education or any other direct funding body are applied in accordance with the terms and conditions attached to the funds

• The University has appropriate financial and management controls in place to safeguard public funds, and funds from other sources; and securing the economical, efficient and effective management of the University’s resources.

The Board of Governors is responsible for the maintenance and integrity of the corporate and financial information included on the University’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

STATEMENT BY THE DIRECTORS IN PERFORMANCE OF THEIR STATUTORY DUTIES IN ACCORDANCE WITH S172(1) COMPANIES ACT 2006

The Companies (Miscellaneous Reporting) Regulations 2018 (Reporting Regulations 2018) require that large private institutions include additional corporate governance reporting disclosures in their strategic report and directors’ report, effective for financial years beginning on or after 1 January 2019. Large private institutions are now required to include in their strategic report a separate statement describing how the directors have had regard to the matters set out in section 172(1)(a) to (f) of the Companies Act 2006 when performing their duty under section 172.

The Board of Governors of the University of Winchester consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the University of Winchester for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1)(a-f) of the Act) in the decisions taken during the year ended 31 July 2022.

DELEGATION OF AUTHORITY

The Board of Governors believes governance of the University of Winchester is best achieved by delegation of its authority for the executive management of the University of Winchester to the Vice-Chancellor (Accountable Officer), subject to defined limits and monitoring by the board. The Board of Governors routinely monitors the delegation of authority,

ensuring that it is regularly updated, while retaining ultimate responsibility. The Board has adopted a longstanding corporate governance framework which is outlined in more detail in our Statement of Corporate Governance and Internal Control and our Statement of Internal Controls on page 48-49.

Further information as to how the board has had regard to the s172 factors is embedded in this report as noted in the table opposite.

AUDITOR

A resolution to re-appoint KPMG LLP as auditor for the forthcoming two years was proposed and approved in November 2021, and the audit plan endorsed at a Risk and Audit Committee meeting on 14 June 2022. The auditor has served for six years.

DISCLOSURE OF INFORMATION TO AUDITOR

The Governors who held office at the date of approval of this report confirm that so far as they are each aware there is no relevant audit information of which the University of Winchester’s auditor is unaware, and each Governor has taken all the steps that he or she ought to have taken to be aware of any relevant audit information and to establish that the University of Winchester’s auditor is aware of that information.

SIGNED ON BEHALF OF THE BOARD OF GOVERNORS:

Mary Edwards Chair of Board of Governors

Professor Sarah Greer Vice-Chancellor

Date: 30 November 2022

REGISTERED OFFICE: University of Winchester Sparkford Road Winchester Hampshire SO22 4NR

a. The likely consequences of any decision in the long term

Winchester is developing a new strategy to be implemented in 2023. This will continue with the operational successes demonstrated in our Public Benefit statement. This plan is fundamental to our decision making as outlined in our going concern statement. 4, 8, 38

b. The interests of the company’s employees

c. The need to foster the company’s business relationships with suppliers, customers and others

d. The impact of the company’s operations on the community and the environment

Winchester is proud to be an institution focused on educational excellence, sustainability and social justice, where everything we do is driven by our values. Our employees are a central theme throughout the Annual Report and this is exemplified by our governance structure with regular HR committee and nominations committee meetings to oversee staffing strategy. In addition, the employees have engaged with the Executive Leadership Team to develop our new strategy.

Our Annual Report includes several examples of the strong partnerships we have fostered with suppliers and customers, including our growing partnership with Hampshire Hospitals Foundation Trust (HHFT) as we build our Faculty of Health and Wellbeing.

Winchester’s support for the Climate Emergency and the United Nations Sustainable Development Goals are evident throughout our annual report. Our commitment is ongoing which is evidenced in our statement ‘to Serve the common good’ which demonstrates our commitment to the health of the community. We continue as a leader in managing the environmental impact of our carbon footprint and ensuring the health and well being of our students and staff.

5, 10, 14, 16

11,12, 17, 24

18-19, 20, 21, 22-23, 25

e. The desirability of the company maintaining a reputation for high standards of business conduct

f. The need to act fairly as between members of the company

Our commitment to high quality standards is reflected in all that we do and is exemplified by several prestigious sector awards mentioned throughout this annual report, our commitment to the student experience and quality education, and our robust project methodology,procedures and policies.

Our governance structure is critical to the equality between our members. Winchester prides itself on inclusivity, including representation the Winchester Student Union on our Board of Governors. Our balanced governance structure is explained in detail under our Statement of corporate governance and internal controls, including the importance of our nominations committee.

4-5, 8,16

42-47

Our Governors

The individuals who served on the University Board of Governors in the period from 1 August 2021 and the date that University’s financial statements were formally approved were as follows:

Board Members

GOVERNORS

Mary Edwards (Chair)

Andrew Robinson (Vice-Chair)

The Revd. Prof. Elizabeth Stuart, Deputy Vice-Chancellor & Provost (ex-officio)

The Right Revd. Tim Dakin, Bishop of Winchester

Jane Jessop

David Williams, The Right Revd. The Bishop of Basingstoke

Dr Lesley Black (Professional Services Staff Governor)

Dr Emma Page

Professor Chris Gaskell

Tom Lowe (Professional Services Staff Governor)

Mark Thistlethwayte

Dr Robert Gray (Academic Staff Governor)

Andrew Smith

Gavin Hunter (Chief Operating Officer) (ex-officio)

Professor Emile Bojesen (Academic Staff Governor)

Professor Edward Rochead

Rae Tooth

CLERK TO THE GOVERNORS

Stephen Dowell

Statement of corporate governance

CORPORATE GOVERNANCE

The University is committed to exhibiting best practice in all aspects of corporate governance. This statement details how the University has applied the principles set out in the Committee of University Chairs (CUC) published guidance, the Higher Education Code of Governance (September 2020) and the 2018 UK Corporate Governance Code issued by the Financial Reporting Council in July 2018, in so far as they relate to Higher Education Institutions. Its purpose is to help the reader of the Financial Statements understand how the principles have been applied.

LEGAL STATUS AND PUBLIC BENEFIT

The University of Winchester is a company limited by guarantee, registered company number 05969256. and is an exempt charity under the terms of the Charities Act 2011 with its Governors as managing trustees.

In accordance with Section 124 of the Education Reform Act 1988, the principal objectives of the University are related to the provision of Higher Education and the conduct of research. To Support this overarching objective, the University also undertakes other activities including knowledge exchange, consultancy and the provision of accommodation, catering and conference services. In setting and reviewing University’s strategy and activities, the Board of Governors takes into consideration the Charity Commission’s guidance on the reporting of public benefit and the supplementary public benefit guidance on the advancement of education.

The University takes steps to ensure that it satisfies the Charity Commission’s public benefit requirements.

As an exempt charity, the University’s Board of Governors have had due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and performing their duties.

The Board of Governors has due regard to any detrimental harm that may arise from the University’s activities and particularly the impact of its campus developments on its immediate locality. The University aims to minimise this impact through extensive community discussion and consultation. In addition to working closely with Winchester City Council. The University does not receive private benefit from its activities undertaken in pursuance of its purposes.

The Board of Governors recognises that students, both undergraduate and postgraduate, are the principal beneficiaries of the provision of higher education whilst the public at large are beneficiaries of the University’s Research and Knowledge Exchange and community engagement activities.

RESPONSIBILITIES OF THE BOARD OF GOVERNORS

The Board of Governors formally meets at least five times a year, It is responsible for the determination of the educational character and objectives of the University, the oversight of its activities, the effective and efficient use of resources, the University’s solvency, for safeguarding

its assets and for approving annual estimates of income and expenditure.

The Board of Governors comprises of people appointed under the University’s Memorandum and Articles of Association, which were adopted on 16 March 2011. A copy of these can be found on the policies and procedures page of our website under: www.winchester.ac.uk/aboutus/leadership- and-governance/ policies-and-procedures/ The responsibilities of the Board of Governors are set out in paragraph 22 of the Terms and Conditions of the Office for Students funding and paragraph 21 of the Terms and Conditions of UKRI funding relating to funds administered through Research England. The University has been designated by the Secretary of State as an institution in the Further and Higher Education sector, with its own contract with the Education and Skills Funding Agency (ESFA).

The Board of Governors is responsible for the appointment and removal of the external auditor and outsourced internal audit providers.

a. The Board of Governors comprises Seven Diocesan Appointed Members (Non-Executive),

b. Seven Co-Opted Members (NonExecutive),

c. One Independent Former Student Governor (Non-Executive),

d. Five Academic Governors,

e. Two Professional Services Staff Governors, and,

f. One Student Governor.

The Diocesan Governors of the Board are appointees of the Church

of England by the Winchester Diocesan Synod. Governors that are not ex-officio hold office for a term of three years and shall be eligible for reappointment up to a maximum of three terms of three years each in total.

The Student Governor holds office until the end of the academic year in which the student governor is appointed or until their appointment by the students comes to an end, whichever is sooner.

The role of the Chair of the Board of Governors is separated from the University’s Chief Executive, the ViceChancellor. The Chair is elected from amongst the non-executive members of the Board. No member of the Board of Governors receives remuneration for work they do for the Board.

The Board of Governors has determined, under the Office for Students terms and conditions (OfS 2019.12), that the Vice-Chancellor shall be the Accountable Officer of the University, with the responsibilities set out by the Office for Students, up to and including being summoned to appear before the Public Accounts Committee of the House of Commons.

The Board of Governors is satisfied that all conditions of receiving and using funds provided by the Office for Students, UK Research and Innovation (including Research England), Education and Skills Funding Agency and the Department for Education have been applied in accordance with the relevant terms and conditions for the year to 31 July 2022. The University’s constitution places responsibility for its operations with the Vice-Chancellor, who is supported by the Executive Leadership Team.

The University endeavours to conduct its business in accordance with the seven principles identified by the Committee on Standards in Public Life (selflessness, integrity, objectivity, accountability, openness, honesty and leadership) and with guidance to

institutions of higher education which has been provided by the Committee of University Chairs (CUC) in its Guide for Members of Higher Education Governing Bodies in the UK.

In accordance with the Memorandum and Articles of Association, the Board of Governors is the most senior body of the University, responsible for determining the educational character and objectives of Winchester and for the oversight of its activities including approving its mission, values, strategic vision and long-term business plans, to remain sustainable and financially viable. The Board of Governors is also the principal financial and business authority of the University and oversees its financial health.

In executing its duties, the Board of Governors maintains a comprehensive system of risk management, control and corporate governance, including the prevention and detection of corruption, fraud, bribery and irregularities. The Board of Governors receives adequate and regular information to monitor performance and track the use of public funds to enable it to identify any material change in its circumstances, including any significant developments that could impact the mutual interests of the University and the Office for Students. For the purposes of this statement, public funds include funds received from the Student Loans Company, UK Research and Innovation (including Research England), Education and Skills Funding Agency and the Department for Education.

The University obtains assurance over the adequacy and effectiveness of the arrangements for corporate governance, risk management and oversight of statutory and other irregularities through its external and internal audit assurance process. Each year, aspects of its corporate governance arrangements are tested by the internal audit function, and the experience of the Board is annually reviewed by its Nomination

Committee. The University’s risk management and regulatory reporting are approved by our Board of Governors through a formal committee structure.

A ‘Statement of Primary Responsibilities’ provides more detail of the responsibilities of the Board, which include:

a. the determination of the University’s educational character and objectives and for the oversight of its activities

b. the effective and efficient use of resources

c. the University’s solvency and the safeguarding of its assets

d. approving annual estimates of income and expenditure

e. the assignment of duties and the appraisal of the Vice-Chancellor

f. determining the identity of the designated staff and their selection, appraisal, remuneration and monitoring of their performance.

g. the setting of a framework for the pay and general conditions of employment of the staff who are not designated staff

h. after consultation with the staff, making the rules relating to the conduct of the staff

i. the appointment of an Auditor.

The University maintains a Register of Interests of members of the Board of Governors which may be consulted by arrangement with the Clerk to the Governors. In accordance with its Memorandum and Articles of Association, the University has appointed a Clerk to the Governors who provides independent advice on matters of governance to Board members.

COMMITTEES

Winchester holds the following committee meetings.

BOARD OF GOVERNORS

Statement of internal controls

The Statement of Internal Controls (SIC) relates to the period covered by the financial statements (1 August 2021 to 31 July 2022, and the period up to the date of approval of the audited financial statements).

The Board of Governors (“the Board”) is responsible for maintaining a sound system of internal control, which supports the achievement of policies, aims and objectives, whilst safeguarding the public and other funds and assets for which it is responsible. This is in accordance with the responsibilities assigned to the Board in the Office for Students (OfS) terms and conditions of funding for higher education institutions.

The University complies with the OfS conditions of registration. This includes giving due regard to relevant guidance about complying with relevant consumer protection law when developing and implementing policies, procedures and terms and conditions, and adopting a Student Protection Plan.

In the period covered by this SIC the Board can confirm that the University has complied with:

• The Terms and Conditions of Funding issued by the OfS; and

• The Committee of University Chairs (CUC) Code of Governance (published in September 2020).

The system of internal controls is designed to manage the risk of the University failing to achieve its policies, aims and objectives. It is not possible to eliminate this risk and accordingly, the system of internal controls can only provide reasonable, not absolute, assurance about its effectiveness.

The system is based on an ongoing process designed to identify risks to the achievement of policies, aims and objectives, to evaluate the nature and extent of those risks and to manage them to achieve economy, efficiency, and effectiveness in the use of the University’s resources. The Board has responsibility for reviewing the effectiveness of the system of internal controls and has established the following procedures:

• The Board meets at regular intervals throughout the year to consider the University’s plans and strategic direction.

• The Board has delegated some of the responsibility for providing oversight of risk management to the Risk and Audit Committee.

• The Risk and Audit Committee obtains regular reports from management on the steps they are taking to manage risks in their areas of responsibility including progress reports on key projects. The Risk and Audit Committee also receives reports from management on

internal control activities.

• The Risk and Audit Committee receives regular reports from the University’s internal audit service provider on the areas that have been subject to internal audit review and containing recommendations for improvement. The internal audit reports prepared for the Risk and Audit Committee also include the Internal Auditor Annual Report containing the internal auditor’s opinion on the adequacy and effectiveness of the University’s system of internal controls.

• The Chair of the Risk and Audit Committee will periodically report to the Board on internal controls.

• A regular programme of review is undertaken to identify and keep up to date the record of risks facing the University

• Risk management is embedded in all University operations through a system of key performance and risk indicators. A University-wide risk register is maintained, with risks ranked according to how they may prevent the University achieving its strategic priorities. Risk awareness is enabled at operational levels within the University and as appropriate to specific risks.

The Board’s review of the effectiveness of the system of internal controls is informed by the University’s internal audit service. This service confirms compliance with relevant professional standards relating to the provision of internal audit services to a university.

The University’s internal audit provider submits regular reports on the adequacy and effectiveness of the University’s system of risk management, internal controls and corporate governance.

The Board’s review of the effectiveness of the system of internal controls is informed by University management who are responsible for the operation of the internal control framework, the work of the internal auditor, and by comments made by the external auditor in their reports to the University.

GOVERNORS’ LIABILITY ON DISSOLUTION

As per section 7 of the Memorandum and Articles of Association every Governor undertakes to pay up to onepound sterling (£1.00) towards the costs of dissolution and the liabilities incurred by the University while he or she was a Governor, if the University is dissolved while he or she is a Governor, or within one year afterwards.

GOING CONCERN

After making appropriate enquiries, the Board of Governors has a reasonable expectation that Winchester has adequate resources to continue in operational existence for at least 12 months from the date of these financial statements, as described within our Statement of principal accounting policies on pages 58-61. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

SIGNED ON BEHALF OF THE BOARD OF GOVERNORS:

Mary Edwards Chair of Board of Governors

Professor Sarah Greer Vice-Chancellor

Date: 30 November 2022

REGISTERED OFFICE: University of Winchester Sparkford Road

Winchester Hampshire SO22 4NR

Independent auditor’s report to Board of Governors of University of Winchester

Report on the audit of the financial statements

OPINION

We have audited the financial statements of University of Winchester (“the University”) for the year ended 31 July 2022 which comprise the Statement of Comprehensive Income and Expenditure, Statement of Changes in Reserves, Statement of Financial Position, Cash Flow Statement and related notes, including the Statement of Principal Accounting policies.

In our opinion the financial statements:

• give a true and fair view of the state of the University’s affairs as at 31 July 2022, and of the University’s income and expenditure, gains and losses and changes in reserves, and of the University’s cash flows, for the year then ended.

• have been properly prepared in accordance with UK accounting standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

• have been properly prepared in accordance with the Companies Act 2006.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are

independent of the University of Winchester in accordance with, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.

GOING CONCERN

The Board of Governors has prepared the financial statements on the going concern basis as they do not intend to liquidate the University or to cease their operations, and as they have concluded that the University’s financial position means that this is realistic.

They have also concluded that there are no material uncertainties that could have cast significant doubt over their ability to continue as a going concern for at least a year from the date of approval of the financial statements (“the going concern period”).

In our evaluation of the Board of Governors’ conclusions, we considered the inherent risks to the University’s business model and analysed how those risks might affect the University’s financial resources or ability to continue operations over the going concern period.

Our conclusions based on this work:

• we consider that the Board of Governors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate

• we have not identified, and concur

with the Board of Governors’ assessment that there is not, a material uncertainty related to events or conditions that, individually or collectively, may cast significant doubt on the University’s ability to continue as a going concern for the going concern period.

However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the University will continue in operation.

FRAUD AND BREACHES OF LAWS AND REGULATIONS –ABILITY TO DETECT

To identify risks of material misstatement due to fraud (“fraud risks”) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

• Enquiring of the Board of Governors, the Risk and Audit Committee, internal audit and inspection of policy documentation as to the University’s high-level policies and procedures to prevent and detect fraud, including the internal audit function, and the University’s channel for “whistleblowing”, as well as whether they have knowledge of any actual, suspected or alleged fraud.

• Reading Board of Governors and Risk and Audit Committee minutes.

• Using analytical procedures to identify any unusual or unexpected relationships.

We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

As required by auditing standards, and taking into account possible pressures to meet loan covenants, we perform procedures to address the risk of management override of controls in particular the risk that management may be in a position to make inappropriate accounting entries. On this audit we did not identify a fraud risk related to revenue recognition due to the non-complex revenue recognition criteria, which limits the opportunity to fraudulently manipulate revenue.

We did not identify any additional fraud risks.

In determining the audit procedures we took into account the results of our evaluation and testing of the operating effectiveness of some of the fraud risk management controls.

We also performed procedures including:

• Identifying journal entries and other adjustments to test based on risk criteria and comparing the indentified entries to supporting documentation, such as unexpected account pairings with cash and borrowings.

Identifying and responding to risks of material misstatement due to non- compliance with laws and regulations

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion

with the Board of Governors and other management (as required by auditing standards) and discussed with the Board of Governors and other management the policies and procedures regarding compliance with laws and regulations.

As the University is regulated, our assessment of risks involved gaining an understanding of the control environment including the entity’s procedures for complying with regulatory requirements.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the University is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), pensions legislation and specific disclosures required by higher education related legislation, including the Accounts Direction issued by the Office for Students on 25 October 2019. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the University is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or the need to include significant provisions. We identified the following areas as those most likely to have such an effect: compliance with higher education regulatory requirements of the Office for Students, recognising the regulated nature of the University’s activities. Auditing

standards limit the required audit procedures to identify noncompliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

Context

of the ability of the audit to detect fraud or breaches of law or regulation

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remained a higher risk of nondetection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing noncompliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

OTHER INFORMATION

The Board of Governors is responsible for the other information, which comprises the Financial Review for the year ended 31 July 2022. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the statements or our audit knowledge. Based solely on that work:

• we have not identified material misstatements in the other information.

• in our opinion the information given in the Financial Review, is consistent with the financial statements.

• in our opinion those reports have been prepared in accordance with the Companies Act 2006.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

Under the Companies Act 2006, we are required to report to you if, in our opinion:

• adequate accounting records. have not been kept by the University, or returns adequate for our audit have not been received from branches not visited by us; or

• the University’s financial statements are not in agreement with the accounting records and returns.; or

• certain disclosures of directors’ remuneration specified by law are not made; or.

• we have not received all the information and explanations we require for our audit.

We have nothing to report in these respects.

BOARD OF GOVERNORS RESPONSIBILITIES

As explained more fully in their statement set out on pages 4849, the Board of Governors is responsible for: the preparation of the financial statements and for being satisfied that they give a true and fair view; such internal control as it determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error; assessing the University’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless it either intends to liquidate the University or to cease operations, or has no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue our opinion in an auditor’s report. Reasonable assurance is a high level of assurance but does not guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

A fuller description of our responsibilities is provided on the FRC’s website at www.frc.org.uk/ auditorsresponsibilities.

Report on other legal and regulatory requirements

We are required to report on the following matters by the Accounts Direction dated 25 October 2019 issued by the Office for Students (‘the Accounts Direction’).

In our opinion, in all material respects:

• funds from whatever source administered by the University for specific purposes have been properly applied to those purposes and managed in accordance with relevant legislation.

• income has been applied in accordance with the University’s Statutes (or articles of government for post 1992 institutions.

• funds provided by the Office for Students, UK Research and Innovation (including Research England), the Education and Skills Funding Agency and the Department for Education have been applied in accordance with the relevant terms and conditions.

• the financial statements meet the requirements of the Accounts Direction dated 25 October 2019 issued by the Office for Students.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We are required by the Accounts Direction to report to you where the University has an access and participation plan that has been approved by the Office for Students’ director of fair access and participation and the results of our audit work indicate that the University’s expenditure on access and participation activities for the financial year disclosed in Note 7(b) has been materially misstated.

We are also required by the Accounts Direction to report to you where the results of our audit work indicate that the University’s grant and fee income, as disclosed in note 3(a) to the financial statements has been materially misstated.

We have nothing to report in these Respects.

The

purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the Board of Governors, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and paragraph 13(2) of the University’s Articles of Government and section 124B of the Education Reform Act 1988.

Our audit work has been undertaken so that we might state to the Board of Governors those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the University and the Board of Governors for our audit work, for this report, or for the opinions we have formed.

Rees Batley Senior Statutory Auditor

for and on behalf of KPMG LLP, Statutory Auditor Chartered Accountants

Date: 6 December 2022

Office Address: KPMG LLP, 66 Queen Square Bristol BS1 4BE

Financial statements

Financial statements

UNIVERSITY OF WINCHESTER

Statement of Comprehensive Income and Expenditure Year Ended 31 July 2022

Staff costs

Other operating expenses

Depreciation

Interest and other finance costs

Total expenditure

Surplus for the year

Actuarial gain in respect of pension schemes

Total comprehensive surplus for the year

Represented by:

Endowment Comprehensive Income for the year

Unrestricted comprehensive surplus for the year

All items of income and expenditure relate to continuing activities.

The accompanying notes form part of these financial statements.

UNIVERSITY OF WINCHESTER

Statement of Changes in Reserves Year Ended 31 July 2022

The accompanying notes form part of these financial statements

UNIVERSITY OF WINCHESTER

A company limited by guarantee and registered in England and Wales

Registration number: 05969256

Statement of Financial Position at 31 July 2022

The financial statements on pages 54 to 75 were approved by the Board of Governors on 30 November 2022 and signed on its behalf by:

Mary Edwards Chair of Board of Governors Vice-Chancellor

The notes on pages 62 to 75 form part of these financial statements

Professor S Greer

The notes on pages

UNIVERSITY OF WINCHESTER

For the year ended 31 July 2022

The accompanying notes form part of

Statement of principal accounting policies

BASIS OF PREPARATION

The University’s financial statements have been prepared in accordance with United Kingdom Accounting Standards, including Financial Reporting Standard 102 (FRS 102) and the Statement of Recommended Practice: Accounting for Further and Higher Education (HE SORP 2019). They have also been prepared in accordance with the ‘carried forward’ powers and duties of previous legislation (Further and Higher Education Act 1992 and the Higher Education Act 2004) and the new powers of the Higher Education and Research Act 2017 during the transition period to 31 July 2019, the Accounts Direction issued by the Office for Students, the Terms and conditions of funding for higher education institutions issued by the Office for Students and the Terms and conditions of Research England Grant.

The financial statements are prepared in sterling which is the functional currency of the group and rounded to the nearest £’000.

The University is a public benefit entity and therefore has applied the relevant public benefit requirement of the applicable UK laws and accounting standards. The University is registered with the Office for Students (OfS).

GOING CONCERN

The University’s activities, together with the factors likely to affect its future development, performance and position, are set out in the Public Benefit Statement which forms part of the Board of Governors’ Annual Report. The Board of Governors’ Financial Review also describes the University’s financial position, its cash flows, liquidity position and borrowing facilities.

The financial statements have been prepared on a going concern basis which the Board of Governors consider to be appropriate for the following reasons.

The Board of Governors have prepared income and expenditure, balance sheets and cash flow statement forecasts for the four years ending 31 July 2027. After reviewing these forecasts, the Board of Governors is of the opinion that, taking account of likely impact of high inflation costs, student recruitment challenges, changes in interest rates and a challenging recruitment market, the University will have sufficient funds to meet their liabilities as they fall

due over the period of 12 months from the date of approval of the financial statements (the going concern assessment period).

The Board of Governors approved the revisions to the current year forecast and the basis for the outer year forecasts to 2026/27 which form the basis for the OfS December 2022 submission, at the November 2022 meeting. A number of scenarios were modelled and considered by the FInance and Resources committee before making the recommendation to the Board of Governors.

The Board of Governors considered:

• the University’s strategic vision to 2030

• the academic strategy

• financial modelling of various scenarios

The University has no undrawn lending facilities and the budgeted cash flow does not require any additional facilities within the next 12 months. The approved business plan does not breach any covenant thresholds on our existing facilities with the Triodos Bank and Allied Irish Bank for the periods to 31 July 2029.

Having reviewed the scenario modelling, the Board of Governors is confident that the University will have sufficient funds to continue to meet their liabilities as they fall due for at least 12 months from the date of approval of the financial statements. The Board of Governors have therefore prepared the financial statements on a going concern basis.

BASIS OF CONSOLIDATION

At 31 July 2022 the University held significant controlling interest in Winchester Business School Limited and Winchester Management School Limited. These companies have been dormant since incorporation,

The financial statements do not include the income and expenditure of Winchester Student Union as the University does not exert significant control or dominant influence over their policy decisions.

INCOME RECOGNITION

Income from the sale of goods or services is credited to the Statement of Comprehensive Income (SCI) when the goods or services are supplied to the external customers or the terms of the contract have been satisfied.

Tuition fee income is stated gross of any expenditure which is not a discount and is credited to the Statement of Comprehensive Income (SCI) over the period in which students are studying.

Where the amount of the tuition fees is reduced, by a discount for prompt payment, income receivable is shown net of the discount. Bursaries and scholarships are accounted for gross as expenditure and not deducted from income. Income from education contracts is recognised when the Institution is entitled to the income, which is period in which students are studying, or when performance conditions have been met.

Investment Income is credited to the SOCI on a receivable basis.

Funds the University receives and disburses as a paying agent on behalf of a funding body are excluded from the SOCI where the University is exposed to minimal economic benefit related to the transaction.

TAXATION STATUS

The University is an exempt charity within the meaning of Part 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly, the University is potentially exempt from taxation in respect of income or capital gains received within categories covered by section 478-488 of the Corporation Act 2010 (CTA 2010) or section 256 of the Taxation of Chargeable Gains Act, to the extent that such income or gains are applied exclusively for charitable purposes. The University receives no similar exemption in respect of Value Added Tax. Irrecoverable VAT on inputs is included in the cost of such inputs. Any irrecoverable VAT allocated to fixed assets is included in their cost.

GRANT FUNDING

Government revenue grants including research grants are recognised in income over the period in which the University recognises the related costs for which the grant is intended. Where part of a government grant is deferred, it is recognised as deferred income within creditors and allocated between creditors due within one year and due after more than one year as appropriate.

Grants (including research grants) from non-government sources are recognised in income when performance related conditions have been met. Income received in advance of performance related conditions being met is recognised as deferred income within creditors on the Statement of Financial Position and released to income as the conditions are met.

DONATIONS AND ENDOWMENTS

Non-exchange transactions without performance related conditions are donations and endowments. Donations and endowments with donor imposed restrictions are recognised in income when the University is entitled to the funds.

Income is retained within the restricted reserve until such time that it is utilised in line with such restrictions at which point the income is released to general reserves through a reserve transfer.

Donations with no restrictions are recognised in income when the University is entitled to the funds. Investment income and appreciation of endowments is recorded in income in the year in which it arises and as either restricted or unrestricted income according to the terms or restrictions applied to the individual endowment fund.

CAPITAL GRANTS

Government capital grants are recognised in income over the expected useful life of the asset. Other capital grants are recognised in income when the University is entitled to the funds subject to any performance related conditions being met.

ACCOUNTING FOR RETIREMENT BENEFITS

The principal pension schemes for the University’s staff are the Local Government Pension Scheme (LGPS) and the Teachers’ Pension Scheme (TPS). The schemes are defined benefit schemes but the TPS scheme is a multi-employer scheme where it is not possible to identify the assets of the scheme that are attributable to the University. Accordingly, the TPS scheme is accounted for on a defined contribution basis and contributions to the scheme are recognised as expenditure in the period to which they are payable. The University is able to identify its share of the assets and liabilities of the LGPS and accordingly the University recognises its share of the scheme’s assets and liabilities in its Statement of Financial Position.

EMPLOYMENT BENEFITS

Short term employment benefits such as salaries and compensated absences are recognised as an expense in the year in which the employees render service to the University. Any unused benefits are accrued and measured as the additional amount the University expects to pay as a result of the unused entitlement.

ENHANCED PENSIONS

The actual cost of any enhanced on-going pension to a former member of staff is paid by the University annually. An estimate of the expected future cost of any enhancement to the on-going pension of a former member of staff is charged in full to the University’s Statement of Comprehensive Income in the year that the member of staff retires. In subsequent years a charge is made to provisions in the balance sheet using a basis provided by the funding bodies.

FINANCE LEASES

Leases in which the University assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. Leased assets acquired by way of finance lease and the corresponding lease liabilities are initially recognised at an amount equal to the lower of their fair value and the present value of the minimum lease payments at the inception of the lease.

Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding liability. The finance charge is allocated to each period during the lease term to produce a constant periodic rate of interest on the remaining balance of the liability.

OPERATING LEASES

Costs in respect of operating leases are charged to the Statement of Comprehensive Income on a straight- line basis over the lease term.

TANGIBLE FIXED ASSETS

Land and buildings

Land and buildings that were owned by the University at the FRS 102 transition date of 1 August 2014 were valued by Alder King. The valuations were on a depreciated replacement cost basis for specialist assets and at market value where this was reasonable to obtain. The University followed the transitional arrangements as at 31 July 2014 and does not intend to carry out regular revaluations of these assets in the future. Depreciation and impairment losses are subsequently charged on the revalued amount and subsequent costs that enhance the asset are capitalised and recognised at cost.

Newly acquired assets are capitalised at cost.

Freehold land is not depreciated.

Buildings, plant and machinery are depreciated on a straight-line basis over their expected useful lives.

• Buildings between 10 and 60 years

• Plant and Machinery between 5 and 25 years

Where an item of land and buildings comprises two or more major components with substantially different useful economic lives (UEL), each component is accounted for separately and depreciated over its individual UEL.

Only items of capital expenditure with a value of £5,000 or more per individual item are recognised as tangible fixed assets.

No depreciation is charged on assets in the course of construction.

Vehicles and Equipment

Equipment, including computers and software, costing less than £5,000 per individual item are recognised as expenditure. All other equipment is capitalised.

Capitalised equipment is stated at cost and depreciated over its expected useful life as follows:

IT equipment 3 years

Motor vehicles 5 years

Fixtures and fittings 10 years

Depreciation methods, useful lives and residual values are reviewed annually during the preparation of the Financial Statements.

IMPAIRMENT

A review for impairment of all assets is undertaken one a year and more frequently if events change or circumstances indicate that the carrying amount of asset may not be recoverable.

BORROWING COSTS

Borrowing costs are recognised as expenditure in the period in which they are incurred.

INTANGIBLE ASSETS

Intangible assets are recognised in the Statement of Financial Position (SOFP) at cost and are amortised over a period of between 3 and 10 years representing the estimated economic life of the assets.

INVESTMENT PROPERTIES

Investment property consists of land and buildings held for rental income or capital appreciation (or both) rather than for use in delivering services. Investment properties are revalued at 31 July each year at market value with movements recognised in the Statement of Comprehensive Income (SCI).

INVESTMENTS

Non-current asset investments are held on the Statement of Financial Position at fair value unless it is not possible to determine accurate value in which case. they are held at amortised cost less any impairment. Current asset investments are included in the SOFP at fair value.

STOCKS

Stocks are valued at the lower of cost and net realisable value.

CASH AND CASH EQUIVALENTS

Cash includes cash in hand, deposits with financial institutions repayable on demand. Deposits are deemed to be repayable on demand if they are available within 24 hours without penalty.

Cash equivalents are short term deposits with a maturity term of less than 3 months from the placement date and with insignificant risk of change in value.

PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provisions are recognised in the financial statements when all of the following apply:

a. the University has a present obligation (legal or constructive) as a result of a past event.

b. it is probable that an outflow of economic benefits will be required to settle the obligation.

c. a reliable estimate can be made to value the obligation.

A contingent liability arises from a past event that gives the University a probable obligation whose existence will only be confirmed by the occurrence or otherwise of uncertain future events not wholly within the control of the University. Contingent liabilities also arise in circumstances where a provision would otherwise be made but either it is not probable that an outflow of economic benefits will be required, or the amount of the obligation cannot be measured reliably.

Where material, the amount recognized as a provision is discounted using a discount rate that reflects risks specific to the liability

A contingent asset arises where an event has taken place that gives the University a possible asset whose existence will only be confirmed by the occurrence or otherwise of uncertain future events not wholly within the control of the University.

Contingent assets and liabilities are not recognised in the Statement of Financial Position but are disclosed in the notes to the financial statements..

RESERVES

Reserves are classified as restricted or unrestricted. Restricted endowment reserves include balances which, through endowment to the University, are held as a permanently restricted fund which the University must hold in perpetuity.

Other restricted reserves include balances where the donor has designated a specific purpose and therefore the University is restricted in the use of these funds.

KEY ESTIMATES AND JUDGEMENTS

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies judgements, estimates and associated assumptions that affect the application of accounting policies, based upon historical experience and other factors that they believe to be reasonable.

In preparing these financial statements, management have made the following judgements:

• Tangible Fixed Assets

Assets have been reviewed to assess whether there are indicators of impairment. At July 2022 and concluded there are no matters to indicate an impairment.

• Local Government Pension Scheme

The present value of the Local Government Pension Scheme defined benefit liability depends on several factors that are determined on an actuarial basis using a variety of assumptions. Any changes to assumptions used (which are disclosed in Note 21) would impact the carrying amount of the net pension liability as disclosed in Note 16.

to accounts

Notes to accounts

Notes to the Financial Statements for the year ended 31 July 202 2

Notes to the Financial Statements

Note 6 replace on page 64

Note 6

Staff costs (continued)

The University has incorporated the OfS threshold as a reasonable basis for excluding lower paid part-time staff on variable hours, casual or temporary contracts from the pay multiple calculations. The threshold reflects employees that are not required to be included in real-time reporting to HMRC who should be excluded from the calculation, as requested by the OfS.

In accordance with the OfS Accounts Direction 2019.41 paragraph 12(c), the University is required to provide an explanation of the process adopted for judging the performance and total remuneration package for the head of the institution, the Vice-Chancellor. The remuneration of the Vice-Chancellor is based on robust evidence, comprising a combination of:

P

• Performance against personal objectives

• The performance of the University against its KPIs and targets

• Relevant benchmarking comparators

In relation to benchmarking, particular attention is given to comparator data for the heads of providers of similar sized higher education sector institutions. Account is also taken of the outcome of higher education sector pay negotiations for staff on the national pay spine.

At the June meeting, the Remuneration Committee agreed that the Vice-Chancellor's salary would be increased by 3% from £220,000 to £226,000 per annum, with effect from 1st August, in line with UCEA's final 3% pay offer to staff on the national pay spine. Subsequently, the Vice=Chancellor expressed her gratitude but declined the offer of an increase.

Other higher paid staff

The number of employees with a basic salary exceeding £100,000 per annum, excluding pension contributions, is:

£105,000 to £109,999

£110,000 to £114,999

£115,000 to £119,999

£120,000 to £124,999

£125,000 to £129,999

Severance

In 2021/22, severence payments amounted to £94k in total and were made to 8 employees (2021: £96k to 12 employees). Amounts for compensation for loss of office and redundancy for all staff are approved by the University's senior management team in accordance with delegated authority.

Notes the Financial Statements

Note 15 (continued)

Note 19 Contingent liabilities

There are no contingent liabilities.

Note 20 Events after the reporting period

Recent changes in global and UK economic pressures and tightening of monetary policy have had a significant impact on asset markets and corporate bonds yields, which are key to the FRS102 assessment of the net pension asset or liability. In particular, AA corporate bond yields, used to set the FRS102 discount rate, have increased significantly since 31 July 2022, with corresponding falls in asset values. The markets have been exceptionally volatile and therefore while both gross DBOs and assets will have fallen, it is difficult to estimate the impact of these changes on the net balance sheet position.

Notes to the Financial Statements

Note 21 Defined Benefit Obligations (continued)

Local Government Pension Scheme (continued)

Administrative information

REGISTERED OFFICE:

University of Winchester Sparkford Road Winchester Hampshire SO22 4NR

Telephone: 01962 841515

Facsimile: 01962 842280 Website: www.winchester.ac.uk

The University of Winchester is a private charitable company limited by guarantee in England and Wales. The University is registered with the Office for Students.

Company registration number: 05969256 (England and Wales)

University registration numbers; UKPRN: 10003614 OP EID: 02149700

SENIOR OFFICERS AND ADVISORS:

Vice-Chancellor and Accountable Officer

Deputy Vice-Chancellor & Provost

Chief Operating Officer

Pro Vice-Chancellor

PRINCIPAL BANKER

NatWest Bank PLC 105 High Street Winchester Hampshire SO23 9AW

EXTERNAL AUDITOR

KPMG LLP 66 Queen Square Bristol BS1 4BE

Sarah Greer

Elizabeth Stuart

Gavin Hunter

Sam Jones

INTERNAL AUDITOR

TIAA Ltd

Artillery House Fort Fareham, Newgate Lane Fareham PO14 1AH

LAWYER

Blake Morgan New Kings Court Tollgate Chandlers Ford Eastleigh SO53 3LG