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2025-07-31-accounts

Annual Report and Consolidated Financial Statements For the year ended 31 July 2025

1 | Canterbury Christ Church University Financial Statements 2025

Company no: 04793659 Charity no: 1098136

Contents

2 Directors and Advisers

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1 | Canterbury Christ Church University Financial Statements 2025
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Directors and Advisers

Directors in place for the year to 31 July 2025 and up to the date of signing the financial statements:

Ms N Ahmed Ms S Appleby Ms S Arana-Morton (from 1 August 2025 to 5 September 2025) Ms J Armitt (Pro-Chancellor) Revd Dr J Arnold Mr J Butler-Moor (from 1 July 2025) Mr J Cox (from 1 August 2025) Professor A G Dewhurst Dr A Eyden (resigned 31 July 2025) Mr A Ghega (27 September 2024 to 30 June 2025) Ms J Harding (resigned 31 July 2025)

Mr R Higgins (resigned 31 July 2025) Right Revd R Hudson-Wilkin Mrs P Jones Lady A Newey Mr J Opaye-Tetteh (from 1 August 2025) Dr R Rogers Mr C Stevens Revd R Stevenson (resigned 31 July 2025) Mr J Stockwell Professor R Thirunamachandran (Vice-Chancellor and Principal) Professor J Wood

Clerk to the Governing Body and University Solicitor

Ms A Sear

Independent Auditor

Forvis Mazars Statutory Auditor 6 Sutton Plaza, Sutton Court Road, Sutton, Surrey SM1 4FS

Internal Auditor

KPMG LLP 15 Canada Square Canary Wharf London E14 5GL

Registered office – Parent and Subsidiary

Canterbury Christ Church University C/O Governance and Legal Services Dept. Anselm North Holmes Road Canterbury Kent CT1 1QU

Registered company number

04793659 registered in England and Wales

Principal Bankers

Lloyds Bank PLC 2 City Place Beehive Ring Road Gatwick West Sussex RH6 OPA

National Westminster Bank PLC 9th Floor 250 Bishopsgate London EC2M 4AA

Registered charity number

1098136

2 | Canterbury Christ Church University Financial Statements 2025

Vice-Chancellor’s introduction

I am pleased to introduce the financial statements for Canterbury Christ Church University for the academic year 2024/25. These statements include the statutory reports that set out the financial performance of the University. They also provide an opportunity for us to reflect on the achievements and challenges over the same period.

In this year we have been able to deliver an operating surplus of £520k, testament to careful stewardship of the budget and oversight by budget holders and managers.

The number of students has increased to 40,200 from a total of 37,000 reported last year. Our students study across three different campuses and with key collaborative partners in the UK and overseas.

We work with a number of international institutions to help us diversify our offer to students from across the globe. This has continued to be a key success and supported our financial sustainability.

The external context for higher education remains challenging. At the beginning of this financial year the University recognised a range of challenges to the delivery of the strategic plan: Vision 2030. These include changes to Government policy on funding and immigration, student recruitment and governance and management of our partnerships, all leading pressure on the University’s finances.

In order to meet the longer term aims of financial sustainability and improving the student and staff experience the University undertook a major Transformational Change Programme (TCP) in the year. The programme established four strands of redesign and restructure to support a reduction in the University’s cost base by £20m and to realise a range of objectives, including:

Throughout the year the four strands of the TCP were implemented, and the University is working towards embedding and realising these changes to ensure a more sustainable future.

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3 | Canterbury Christ Church University Financial Statements 2025
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Vice-Chancellor’s introduction

(continued)

Despite these challenges our focus remains on our core objectives of education and the student experience, and research and enterprise. There have been many successes in these areas. It is rewarding to us all to see our University being recognised in The Times and Sunday Times Good University Guide 2026. The guide has revealed Canterbury Christ Church University is in the top 10 in the UK for teaching quality and student experience. We now rank in 6th place for satisfaction with teaching quality and we have increased to 5th in the UK for wider student experience.

In the most recent National Student Survey (NSS) we achieved an 8% rise in the overall positivity score to 89%. The University was ranked 9th in the country for the employability of our graduates, 30th in the Social Mobility Index and 38th in the People and Planet League table all key measures that demonstrate our focus on our core mission. These achievements reflect the unwavering dedication of our staff, the ambition of our students, and the strength of our community. I am proud of the progress made.

In presenting the financial results for the 2024/25 year, I would like to thank all members of the Canterbury Christ Church community including our staff, students, governors, alumni, partners and stakeholders for their continued support and engagement.

Professor Rama Thirunamachandran OBE DL Vice-Chancellor and Principal

4 | Canterbury Christ Church University Financial Statements 2025

The Strategic Report

Directors’ Report

The disclosure requirements for the Directors’ report can be found in the Strategic Report on pages 5 to 19 and form part of this report by cross reference. I present this report on behalf of all named directors (see page 2) in order to meet the requirements of the Companies Act 2006.

Mission

The University’s mission is to pursue excellence in education and research; inspired by our Church of England foundation, we are passionate about transforming individuals, creating knowledge and enriching communities to build sustainable futures.

Scope of Financial Statements

The Financial Statements for the year ended 31 July 2025 have been prepared to comply with the Statement of Recommended Practice (SORP) Accounting for Further and Higher Education and applicable accounting standards in the UK and in line with regulatory advice in the form of the Accounts Direction from the Office for Students (OfS 2019.41). The University is based in the UK and operates as both a company registered in England and Wales and a registered charity.

Subsidiary Company

The University holds an investment in a subsidiary company, Medco (CCCU) Limited. This is a company registered in England and Wales which operates under a franchise arrangement with Warwick University Enterprises Limited. The subsidiary company is in a VAT group with the parent company. The subsidiary company’s results have been consolidated with the parent company in these financial statements.

Activities and Objectives

The principal activities and objectives of Canterbury Christ Church University are concerned with the provision of higher education teaching, research and knowledge exchange. To support these objectives, the University undertakes other activities, including the provision of accommodation, catering and conference services.

Vision 2030

Our strategic vision has people at its heart to drive and shape our University over the next seven years. In the plan we have set out our mission, values and aims to help guide us towards a more innovative and sustainable future.

Our values are to be sustainable and ethical, to be innovative and courageous, to be compassionate and inclusive and to be collaborative and creative. The strategic framework has four clear strategic aims:

All aims are underpinned by our commitment to sustainable futures and the cross-cutting themes are:

5 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

Financial Strategy

During the 2024/25 year, the University’s financial strategy was based on seven key principles, in line with the Vision 2030 strategic objectives:

The objectives of the financial strategy are:

1. To maintain a diverse and financially sustainable academic provision for directly delivered programmes.

2. To support the development of financially sustainable partnerships for the delivery of University accredited programmes within England.

3. To support the growth and expansion of financially sustainable Transnational Education (TNE).

4. To enable growth and diversification in other income activities including research and enterprise.

5. To make financial provision as required for the support of staff and students.

At the beginning of this year there were a number of challenges to the delivery of this financial strategy that led to the University developing a programme of savings in both the pay and non pay costs. The Transformational Change Programme was announced by the Vice Chancellor on 4 November 2024. This was in response to several key financial challenges, including:

These challenges presented a significant risk to the achievement of the University’s budget.

The target for the TCP was the realisation of £20m of savings, being 80% staff savings and the balance in non pay savings.

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£20m
of savings
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Key Performance Indicators

The University seeks to maintain its long-term financial sustainability and overall financial strength by not breaching the following criteria:

In determining the specific Key Performance Indicators for the University, the requirement to meet bank covenants has been embedded in the measures.

6 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

Summary Results for the year

The consolidated results for the University for the year ended 31 July 2025 are summarised, as follows:

Income
Expenditure
Surplus before Proft/(Loss) on
disposal of assets and impairment		 2025 2024
£’000 £’000
356,655
319,115
353,758
311,870
2,897
7,245

The particular areas to highlight from the consolidated financial results are:

The University returned a reported surplus of £2.897m, representing 0.81% of total income. This is compared to the surplus or deficit reported in previous years, as follows:

Surplus/(deficit) after depreciation and before tax (£m)

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12
10.90
10
8 7.25
6
4 3.40 2.90
2
2020 2022 2023 2024
/2021 /2023 /2024 /2025
0
2021
/2022
-2
-4
-6 -5.40
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The operating performance includes adjustments required by FRS 102 of which the most significant is the non-cash adjustments for future potential pensions’ costs.

7 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

The table below summarises the adjustments to reconcile the operating surplus to an adjusted surplus which provides an indicator of year on year performance which is not affected by any fluctuations in non-cash pension charges.

Consolidated results

Consolidated results
Operating surplus reported per Financial Statements for
the year excluding (proft)/loss on sale of fxed assets
Endowment costs
USS pension provision movement
LGPS and USS pension interest charges, net
LGPS charges in excess of employer contribution
Adjusted surplus		 2025 2024
£’000 £’000
2,897
(44)
7,245
-
-
(1,318)
-
(1,677)
(2,333)
(489)
520
3,761

The adjusted surplus of £520k represents 0.15% of total income.

Pension Reserve

The University contributes to the Local Government Pension Scheme (LGPS) on behalf of all eligible staff who have elected to join the scheme. This pension fund is a defined benefit scheme and as its assets and liabilities can be separately identified by the scheme’s actuary, these are reported within the financial statements.

An actuarial gain on the LGPS pensions scheme of £2.333m is reported in the Statement of Comprehensive Income. The scheme generated a surplus of funds of £54.404m for the year, as asset values exceeded liabilities. The surplus was not reported in the Balance Sheet (Statement of Financial Performance) as the asset ceiling was applied, and the surplus is not recognised as an asset of the University.

This is in line with prior year treatment of the surplus. When the pension reserve presented a deficit, it was reported as a liability shown separately in the Balance Sheet (Statement of Financial Position). The liability reflected the level at which the scheme assets failed to cover the present value of liabilities as determined by the actuaries.

Student Numbers

The University reported 40,200 students registered in the annual return, an increase when compared to the prior year (2024: 38,000).

The University works with a number of significant partners in the UK and overseas to deliver collaborative provision. In addition to this the University offers undergraduate and post graduate courses at its campuses in Canterbury, Medway and Tunbridge Wells to home students and international students.

8 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

Capital Projects

The University has a range of strategies which underpin the delivery of the Strategic Plan, Vision 2030. The strategies specify an investment plan for the necessary developments in buildings, technology and other capital schemes. The investment plan is set in the context of the strategic plan to enhance significantly and improve the quality of facilities for the University’s students as well as supporting new technologies, enabling further growth and expansion of the institution’s provision of education.

In 2024/2025 the University invested a total of £6.614m in capital assets, part funded from capital grants of £0.108m. Of the total expenditure on capital projects a total of £3.070m was invested in software and systems developments. This included further enhancement to the

student records database, the continued development of the Curriculum Management Tool and the Case Management System. A further £0.811m was invested in IT equipment and infrastructure and £0.263m in classroom facilities and equipment to enhance the student experience. The balance of £2.470m was used to make improvements to the estate, including essential fire safety works and plant and machinery to service the buildings.

The University continues to benefit from the investment in carbon saving measures as supported by the funding received in prior years in the form of interest free loans from SALIX Finance and from capital grant funding received from the Office for Students (OfS).

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Annual Capital Investment (£m)
12
10.70
10
8.30
7.80
8 7.23
6.61
6
4
2
2020 2021 2022 2023 2024
/2021 /2022 /2023 /2024 /2025
0
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Cash Flow

The University has continued to maintain appropriate cash balances generated through operations to support revenue payment commitments and capital investment. The cash position increased by £3.5m at the end of the year (2024: £2m increase).

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Year-end cash balance (£m)
60.80
60 55.30 57.35
50
40
34.30
30.70
30
20
10
2020 2021 2022 2023 2024
/2021 /2022 /2023 /2024 /2025
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9 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

Long term loan position

The University anticipates the need to manage its loan financing arrangements in a careful and measured manner, recognising that conditions can change substantially over the period of a long-term loan. The Governing Body requires that interest rate exposure is managed by means of a combination of variable and fixed rate borrowing. The balance of fixed interest rate loan finance reported on the balance sheet at the 31 July 2025 was 15.22% of all total outstanding loan finance.

Net Debt

Net debt represents the total outstanding debt as at the year end, minus cash held at the bank. The decrease in net debt in 2025 reflects the increase in cash held at the year end and repayment of loan finance in year.

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Net Debt (£m)
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37.70
40
2020
30 /2021
18.50
20
2.50
2021
10 /2022 2022
/2023 2023
/2024
0
2024
-3.31 /2025
-10
-10.60
-20
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10 | Canterbury Christ Church University Financial Statements 2025

The Strategic Report

(continued)

Equity and Inclusion, including Disabled Employees

The University recognises that building a diverse workforce is fundamental to achieving a truly inclusive work and learning environment and welcomes applications from all sections of the community.

Applications for employment by disabled persons are always fully considered, bearing in mind the abilities of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment with the University continues, and that appropriate training is arranged. It is the policy of the institution that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

The University is a Stonewall Diversity Champion, Disability Confident Employer, Athena SWAN award holder and a signatory for the Armed Forces Covenant.

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Stonewall Athena Swan Disability Confident
Employer
Armed Forces Covenant Fairtrade mark RGB Eco Campus
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Post Balance Sheet Events

After the reporting period the University reached the difficult decision to terminate the partnership agreement with one of their collaborative partners, Elisabeth School of London. The letter of termination was issued on 16 October 2025. The University is now working closely with the Elisabeth School of London to arrange for the transfer of students to cause minimum disruption to their studies.

Section 172 Statement

The Governing Body welcomes the reporting requirement as an opportunity to explain how stakeholder participation and feedback has informed and shaped decisions and how the University has reacted to feedback in the strategy and plans it has developed. The Governing Body sees the main key stakeholders as being our students, our employees, our partners and suppliers who work with us to deliver the aims of the University and the wider society, community and environment that support our sustainability. The Governing Body has set out in the Statement of Corporate Governance the structure of committees that aid decision making and how the governors work to achieve their responsibilities. This includes the maintenance of a reputation for high standards of business conduct with suppliers, partners and with students.

11 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

Employee Engagement

The Governors and Management place considerable value on the involvement of its employees in decision making as the University considers the employees’ interests as key to the success of the organisation. Therefore, the Articles of the University require the Governing Body includes three elected staff governors. The University also recognises three trades unions – Universities and Colleges Union (UCU), UNITE and UNISON – who represent employees. The University undertakes to keep the staff informed on all matters affecting them, and the various factors affecting the performance of the institution and its subsidiary company. This is achieved through formal and informal meetings, the sharing of the staff newsletter, the ‘In Touch’ magazine and by publishing the annual financial statements on the University’s website. Employee representatives are consulted regularly on a wide range of matters affecting their current and future interests.

In this last year all of our staff were invited to engage in the consultation process for the Transformational Change Programme (TCP). As part of the development of the programme each strand of TCP undertook town hall meetings and one to one consultation with staff members. The feedback received from colleagues was invaluable in helping to shape the outcome of the TCP. This has led to a redesign of the University to include the new academic school structure, the review of service areas and the bringing together of professional service functions to support an enhanced staff and student experience. The outcome of these changes is still being realised and substantial work is underway to embed new working practices, systems and processes within many areas.

Business Relationships - Partners and Suppliers

The University recognises the strategic importance of working with suppliers, many of whom are local businesses, to provide a range of services and goods to support the delivery of high-class education.

To support this business relationship, the University engages with suppliers to consider improvements to the contracting, ordering, goods receipting and payment processes as part of our commitment to continuous improvement. A key measure of this is the payment performance report.

The payment policy of the University is that payments are made in accordance with those terms and conditions agreed between the institution and its suppliers. Where no specific conditions exist, suppliers are paid within 30 days of the receipt of invoice.

The payment performance of the University is available to the public at: gov.uk/check-when-businesses-pay-invoices

In the year 2024/25 the University met the target to pay valid and undisputed invoices within 30 days for 60% of all invoices received (2024: 89%).

Society and Community

The University’s commitment to supporting the local community and wider society through engaging in research and knowledge exchange activities that have an impact on societal changes and underpin the learning and teaching across the University. Examples of these research projects can be found in the public benefit statement.

Environment

The environment is a key factor in the future sustainability of the University. The University’s mission, values and strategic commitments show a connection to ourselves, each other and the environment, on different scales from the local to the global. Feedback from staff and students has helped the University develop a master plan for the next 20 years. This takes an integrated approach to the development of a sustainable university estate and demonstrates how the principles of Education for Sustainable Futures can be applied in practice. Recognition for the dedicated work of staff and students has come in the form of the Green Planet award and the Green Gown award.

12 | Canterbury Christ Church University Financial Statements 2025

The Strategic Report

(continued)

Carbon Reporting

Canterbury Christ Church University is committed to responsible energy management and sustainability, which it practices throughout the organisation. The University recognises that climate change is one of the most serious environmental challenges threatening the world today. The University demonstrates its commitment to the role it must play in reducing greenhouse gas emissions through the University’s Strategic Framework “Vision 2030”. The strategic framework places collaboration, courage and creativity at its centre. There are four strategic aims in the strategy that are all underpinned by the commitment to sustainable futures.

Emission Performance

The University completes an annual review of energy performance and the amount of direct transportation incurred each year as part of the Streamlined Energy and Carbon Reporting (SECR) process.

In 2024/2025 scope one carbon emissions (tCO2e) from sources directly owned or controlled by the University were 15% lower compared to the baseline year of 2019/20. The total scope one emissions for the year was 1,789 tCO2e.

Scope two emissions from the purchase of electricity, heat or cooling has achieved an ever greater reduction, being 40% lower compared to baseline year. The total emissions for the year was 1,637 tCO2e. The graph below shows the scope two emissions by month, compared to baseline.

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300
250
200
150
100
AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL
50
2025 151 152 163 168 160 176 172 182 161 163 152 151
2019 201 203 252 251 226 255 231 265 226 223 197 204
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13 | Canterbury Christ Church University Financial Statements 2025

The Strategic Report

(continued)

Streamlined Energy and Carbon Reporting (SECR) Annual Statement 2025

The variances reported in the annual statement that follows is comparing the current year 2024/25 to the baseline year of 2019/20:

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Energy Consumption 2024/25 2023/24 2022/23 2019/20 Variance
Natural Gas (kWh) 9,451,421 9,841,557 12,159,328 11,288,589 -16%
Direct Transport 70,637 77,295 85,005 160,586 -56%
Company Cars (kWh)
Scope 1: Combustion of fuel
and operation of facilities. LPG (kWh) 11,592 8,372 7,731 0
Natural Gas (kWh) 22 1 37 0
Total Scope 1 Energy 9,533,651 9,927,225 12,252,064 11,449,174 -17%
(kWh) exc Refrigerants
Scope 2: Electricity purchased. Total Electricity (kWh) 9,249,681 9,545,628 10,355,744 10,697,640 -14%
Scope 3 : Indirect Transport Employee owned 298,180 329,509 399,280 1,288,748 -77%
Vehicles (kwh)
Total Scope 1 ,2 and 3 Energy Consumption (kWh) 19,081,512 19,802,362 23,007,088 23,435,563 -18.6%
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The total natural gas consumption in 2024/25 was 16% lower than the baseline year of 2019/20. The electricity consumption (in kWh) of the University was 14% less than baseline year.

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Emissions Assessment 2024/25 2023/24 2022/23 2019/20 Variance
Natural Gas (tCO2e) 1,729 1,800 2,189 2,075 -17%
Scope 1: Combustion of fuel Direct Transport (tCO2e) 17 18 20 39 -57%
and operation of facilities. LPG (tCO2e) 2.5 1.8 1.7 0
Refrigerants (tCO2e) 40.2 2.3 59.2 0
Total Scope 1 -tCO2e 1,788.6 1,822.5 2,270 2,114 -15%
Location Based (LB)
Scope 2: Electricity (tCO2e) 1,637 1,976 2,144 2,734 -40%
purchased and heat and
Market Based (MB)
steam generated. 1.92 301.67 374.9 4,071 -100%
(tCO2e)
Scope 3 : Indirect transport Employee owned Vehicles 77 83 101 330 -77%
(tCO2e)
Location Based Total Scope 1 ,2 and 3 3,503 3,882 4,515 5,179 -32.36%
Energy Consumption
Market Based (kWh) 1,868 2,208 2,746 6,516 -71%
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Intensity Metric Assessment Intensity Metric Assessment 2024/25 2023/24 2022/23 2019/20 Variance
IntensityRatio 1 tCO2e/£m Turnover 9.89 12.17 19.60 41.08 -76%
IntensityRatio 2 tCO2e/ m2 Floor Area 0.03 0.03 0.035 0.04 -27%
Intensity Ratio 3 tCO2e/FTE 0.091 0.106 0.155 0.47 -81%

The ratios are defined as: Intensity ratio 1 is (tCO2e/£m Turnover ) Intensity ratio 2 is (tCO2e/m2) Intensity ratio 3 is (tCO2e/FTE)

14 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

On-Site Generation of Electricity - Solar PV On-Site Generation of Electricity - Solar PV 2024/25 2023/24 2022/23 2021/22 2020/21 2019/20
ElectricityGenerated kwh 9,944 21,884 39,232 23,174 44,629 0
Generated Electricityconsumed kwh 9,944 21,884 39,232 23,174 44,629 0
Generated electricity exported to Grid kwh 0 0 0 0 0 0

The reduction in polar PV electricity generated in the last two years reflects the change in the campus portfolio. A number of leased properties with polar PV units installed on their roofs were vacated and this has resulted in a reducing balance of energy being produced from direct sources.

Value for Money (VfM)

Value for money is important in the context of the tuition fees received from students and how these are utilised within the institution. The following chart of Undergraduate Fees demonstrates how these funds were applied in 2023/24 based upon the Transparent Approach to Costing (TRAC) methodology data for that particular year. The report that is produced in January 2025 is presented retrospectively for 2023/24, as this is the latest data available from the TRAC return.

Using the TRAC methodology the Total undergraduate fee of £9,250 represents the following:

£6,250 (67.5%)
£1,080 (11.5%)
£790 (8%)
£360 (4%)
£240 (3%)
£100 (1%)
£170 (2%)
£130 (1.5%)
£100 (1%)
£30 (0.5%)		 Teaching and Research
Professional and Support Services
Estates and Facilities
IT Infrastructure and Support
Welfare and Careers
Bursaries
Library and Academic Skills
Recruitment, Outreach &
Communications
Subsidising Student Accommodation
Students’ Union

This is presented as a relative percentage:

15 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

Risk Management

The approval of risk management processes, including the University’s high level risk register, and risk management framework are delegated by the Governing Body to the Audit Committee, which reviews identified risks on a termly basis. The processes ensure that a culture of risk management is embedded across the University. The University’s risk management framework seeks to limit the adverse effects on the performance of the institution and the system to manage these risks is described in the statement of internal control.

The system of internal control is based on an ongoing process designed to identify the principal risks to the achievement of strategic policies, aims and objectives; to evaluate the nature and extent of those risks; and to manage them efficiently, effectively and economically. This process has been in place for the year ended 31 July 2025 and up to the date of approval of the financial statements and accords with the requirements of the Office for Students.

The Governing Body’s review of the effectiveness of the system of internal control is also informed by the work of the Senior Management Team within the University, who have responsibility for the development and maintenance of the internal control framework, by the work of the Internal Auditor, and by comments made by the External Auditor in their management letter. Whilst a prudent approach has been adopted to financial planning, the University considers that there are key risks to its financial health and sustainability which are also likely to be experienced in other institutions across the sector.

The main risk areas and actions being taken to mitigate them contained in the University’s High-level Risk Register as at 31 July 2025 follows:

Failure to maintain a financially sustainable offer for directly delivered programmes.

Actions to mitigate include:

Failure to monitor, prepare and manage changes in the political and funding landscape for Higher Education.

Actions to mitigate include:

Failure to recruit full time Home Undergraduate and Postgraduate students.

Actions to mitigate include:

16 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

Ineffective management of partnerships, including the risk of major change in partnership activity and compliance implications of partnership working.

Actions to mitigate include:

These risks have been taken into consideration in the University’s modelling of future years’ forecasts and contingency arrangements are included within the institution’s plans to review and redesign services and reduce costs.

Going Concern

Following on from the University’s positive outturn for 2024/25, the University’s financial forecasts for 2025/26 and into 2026/27 take into account a range of opportunities and challenges facing the institution. These form the basis of forecasts through to 2029/30. The forecast indicates a stable financial position. The financial forecasts will formally be shared with the Office for Students (OfS) in January 2026 following Governing Body approval in line with the regulatory body’s requirements. The forecasts provide confidence to the Governing Body over the financial sustainability of the University and confirm the University remains a going concern throughout 2025/26 and for the foreseeable future.

The University’s financial forecasts demonstrate that it will fully meet the banks’ covenants agreed as part of the credit agreements with both Lloyds Bank PLC and National Westminster Bank PLC. “

Directors’ Indemnities

As permitted by the Articles of Association, the Directors have the benefit of an indemnity which is a qualifying third-party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force. The Company also purchased and maintained throughout the financial year Directors’ and Officers’ liability insurance in respect of itself and its’ Directors and those of the subsidiary company.

Disclosure of Information to the Auditor

Each of the persons who are directors at the date of approval of this report confirms that so far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company’s auditor is unaware, and the directors have taken all the steps that he/she ought to have taken as a Director in order to make himself/herself aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

17 | Canterbury Christ Church University Financial Statements 2025

The Strategic Report (continued)

Reserves Policy and Key Performance Indicators (KPIs)

The University seeks to retain a level of reserves to support its financial sustainability and in accordance with its strategic plan, the policy is reviewed in each academic term. The reserves position is maintained through the achievement of surpluses in line with the institution’s key performance indicators.

When reporting a liability the pensions’ reserve is recognised in the balance sheet. This represents a longer-term liability which does not materially impact upon the short to medium term policy for the maintenance of a general reserve. When reporting a surplus in the University’s share of the scheme the asset is not considered to be attributable to the University and as such is not recognised as an asset, and has no impact on the general reserve.

Monthly financial reports are produced for the Senior Management Team (SMT) and for each meeting of the Finance and Resources Committee of the Governing Body.

The table below shows the performance indicators for the year ended 31 July 2025 based on the consolidated results, compared to actual outturn for the previous year. Targets for each of these KPIs are prepared and reported to management based on the approved annual budget. As part of the midyear forecasting process, the financial position is reviewed, and a revised budget is produced in year. The target KPIs are amended to reflect the revised budget position to be reported through to the end of the year.

In 2024/25 the University incurred costs of £6.552m relating to severance and non pay related expenditure to support the Transformational Change Programme (TCP). The KPIs are presented with these exceptional costs excluded for comparison.

Key Performance Indicators: actual outturn
2025
excluding exceptional
costs of TCP
Operating surplus/(defcit) as a % of income
2.68
Adjusted surplus as a % of income
1.98
Unrestricted reserves as a % of total income
42.02
External borrowing as a % of total income
14.09
Current asset/(current liability) ratio
1.15
Net liquidity days
66
EBITDA as a % of total income
5.95
Net Cash infow/outfow as a % of income based on net
cash infow from operating activities
6.55		 2025 2024
0.81
0.15
40.18
14.09
1.11
65
4.11
4.71		 2.27
1.18
44.87
16.93
1.09
69
5.48
5.09

The reported surplus for the year ended 31 July 2025 reflects adjustments for the accounting treatment under FRS 102 of pensions’ provisions and liabilities.

The operational outturn/adjusted surplus for the University for the year ended 31 July 2025 was £2.869m.

Unrestricted reserves are reported net of the LGPS pensions liability. When the asset values exceed the liability the net asset or surplus on the scheme is not recognised by the University and will not be included in the University’s reserves.

External borrowing decreased in year with capital repayments being made to reduce the principal amount of loans. The overall position reflecting repayment of loan capital is a balance at 31 July 2025 of £50.239m (2024: £54.041m).

The balance of cash and cash equivalents held at the year end was £3.455m more in 2025 than 2024, however, expenditure has increased year on year, reflecting payments to collaborative partnerships and one off severance payments. This had an impact on net liquidity days reported as being 65 days, which is a reduction compared to the prior year of 69 days.

Throughout the year the University has maintained sufficient funds to meet all commitments in line with the treasury management policy approved by the Finance and Resources Committee.

The KPIs are included in the University’s monthly financial reports monitored and reviewed by the Senior Management Team. They are also considered and assessed by the Finance and Resources Committee as part of the review of financial performance. The University’s operating performance for the year has remained within the parameters of the approved KPIs.

18 | Canterbury Christ Church University Financial Statements 2025

(continued)

The Strategic Report

Financial Risk Management

The University recognises that all treasury management activities involve risk and potential reward. The University’s policy on borrowing is to minimise cost while maintaining the stability of its financial position by sound debt management techniques. The objective for lending purposes is to achieve the best possible return while minimising risk. The Director of Finance has the authority to implement the University’s strategy for depositing surplus funds and managing the cash flow of the University. In exercising these powers, he has regard to the perceived credit risk associated with the approved organisations with which funds may be deposited or invested; also the effect of possible changes in interest rates on the cost of borrowing and the return from investing and the need to maintain adequate liquid funds to meet the University’s obligations.

Outlook

The University continues to face financial challenges in particular from rising inflation for pay and non-pay costs.

There continues to be reductions in the number of Home and Overseas Full Time Undergraduate students registering to study in higher education which impacts future income expectations. International recruitment has also fallen due to changes to Visa requirements.

In addition to the challenges to income, Universities are facing higher employment costs in respect of academic staff, due to the increase in the Teachers’ Pension Scheme employer contributions from April 2024. During this financial year there was also an increase in employer’s National Insurance contributions from April 2025, rising from 13.8% to 15% and a lowering of the level of pay being earned at which National Insurance became payable, impacting on the cost of part time staff.

The Government had implemented an inflationary increase in the full-time tuition fee for funded students, however, this was eliminated as a gain by the University due to the increase in employment costs for all staff from the increase in National Insurance contributions.

In the light of these financial challenges, the University introduced a Transformational Change Programme (TCP) with four strands to review and redesign all areas of the University. The four strands of the programme were:

The successful implementation of the TCP has created a structure to support the delivery of our strategic plan, Vision 2030. Therefore, we are confident that with the continued commitment and involvement of our staff, students and stakeholders we can deliver our strategic aims with compassion, and by working collaboratively together.

Professor Rama Thirunamachandran

Vice-Chancellor, Principal and Director

Date: 25 November 2025

19 | Canterbury Christ Church University Financial Statements 2025

Public Benefit Statement

Canterbury Christ Church University is a registered charity under the Charities Act 2011. The objects of the University are the advancement of education, learning and research for the benefit of the public including, in particular, the conduct and development of the University known as Canterbury Christ Church University for the training of persons as teachers and the provision of other higher or further education.

In setting the University’s objectives, and planning its activities, the governors, as charity trustees, have given careful consideration to the Charity Commission’s public benefit guidance.

In March 2023 the University launched its Strategic Framework, Vision 2030, which sets out its mission and values, supported by four strategic aims, and six cross-cutting themes:

Our mission

The University’s mission is to pursue excellence in education and research; inspired by our Church of England foundation, we are passionate about transforming individuals, creating knowledge and enriching communities to build sustainable futures.

Our values

Strategic aims

Our impact

The Vision 2030 framework informs the business plans of departments and schools across the University. To demonstrate progress towards the achievement of the University’s strategic aims, a set of refreshed KPIs has been established.

Illustrations of how the University has fulfilled its charitable public benefit purposes in 2024/25 include:

20 | Canterbury Christ Church University Financial Statements 2025

Public Benefit Statement

(continued)

21 | Canterbury Christ Church University Financial Statements 2025

Public Benefit Statement

(continued)

22 | Canterbury Christ Church University Financial Statements 2025

Public Benefit Statement

(continued)

23 | Canterbury Christ Church University Financial Statements 2025

Statement of primary responsibilities of the University’s governing body

In accordance with the Instrument and Articles of Government, the Governing Body is responsible for the determination of the educational character and mission of the University and the oversight of its activities including ensuring that an effective system of internal control is maintained. The other primary responsibilities of the Governing Body are to:

The specific responsibilities of the Governing Body have been set out in the Statement of Corporate Governance.

Financial Responsibilities of the Governing Body

The Governing Body is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the University and which enable it to ensure that the financial statements are prepared in accordance with the Instrument and Articles of Government, the Statement of Recommended Practice: Accounting for further and higher education and relevant legislation. In addition, within the terms and conditions of funding for Higher Education Institutions from the Office for Students (OfS), the Governing Body, through its designated accountable officer (the Vice-Chancellor), is required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the University and of the surplus or deficit and cash flows for that year.

24 | Canterbury Christ Church University Financial Statements 2025

Statement of primary responsibilities of the University’s governing body (continued)

In causing the financial statements to be prepared, the Governing Body has ensured that:

The Governing Body has taken reasonable steps to:

The governors confirm, so far as each governor is aware, there is no relevant audit information of which the group auditor is unaware. Each governor has taken

all the steps that they ought to have taken in their duty as a governor in order to make themselves aware of any relevant audit information and to establish that the group auditor is aware of that information.

The key elements of the University’s system of internal financial control, which is designed to discharge the responsibilities set out above, include the following:

25 | Canterbury Christ Church University Financial Statements 2025

Statement of primary responsibilities of the University’s governing body

(continued)

Any system of internal financial control can, however, only provide reasonable, but not absolute, assurance against material misstatement or loss.

The Governing Body intends to publish the financial statements on the University’s website:

Ms J Armitt

Pro-Chancellor (Chair of the Governing Body)

Date: 25 November 2025

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26 | Canterbury Christ Church University Financial Statements 2025
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Statement of corporate governance

The University is a private limited company by guarantee without share capital, and a registered charity. It has a wholly owned subsidiary, Medco (CCCU) Limited, trading as Unitemps, a private limited company.

The objects of the University are set out in articles of association incorporating the instrument of government of 23 September 2021. It is a registered OfS provider, having entered onto The OfS Register on 28 August 2018.

The Church of England retains an interest in the distinctive Christian elements of the University’s governance arrangements through special safeguarding provisions contained in the governing documents. These provisions, known as the golden vote, allow for the Church of England to exercise a power of veto if the Governing Body passes any resolution that seeks to remove or vary any clause in the governing documents pertaining to the University’s Christian distinctiveness. The golden vote is not considered to be a material factor in the University’s overall governance arrangements in circumstances where it has never been exercised and its inclusion and scope in the governing documents has been narrowed following dialogue with the Church of England.

Governors are the charity trustees and are responsible for ensuring compliance with charity law. The Governing Body adheres to the Seven Principles of Public Life, the Higher Education Code of Governance and the OfS public interest governance principles.

The Governing Body shall consist of a majority of independent Governors and when complete, normally consists of not fewer than 18 persons.

The maximum number of Company Members is 19. It includes four nominative governors being members of the Church of England of whom: (i) one is appointed by the Archbishop of Canterbury; (ii) one is appointed by the Diocesan Boards of Education of Canterbury and Rochester dioceses acting jointly (iii) one is appointed by the Archbishops’ Council of the Church of England (iv) one is the Bishop of Dover or their nominee; one is the Vice-Chancellor and Principal; three staff governors: the three being respectively a member of the Academic Board nominated by that Academic Board together with a member of the academic staff

of the University and a member of the professional services staff of the University; one student governor, being the elected President of the Students’ Union, ex-officio, and not more than nine co-opted governors, at least six of whom are to be members of the Church of England.

In terms of co-opted governors, the Governing Body is mandated to seek to ensure that different University, county and regional interests are reflected in its membership.

The Governing Body is chaired by Ms J Armitt, the ProChancellor since 1 August 2021. Since 1 August 2023 Mr C Stevens has held the role of the Deputy ProChancellor of the Governing Body. The role of Senior Independent Governor is held by the Right Reverend Bishop Rose Hudson-Wilkin.

A schedule of delegation sets out the responsibilities of decision making, between the Governing Body, its committees and the Vice Chancellor. The main responsibilities of Governing Body are:

1. to determine the educational character and mission of the University including the approval of the University’s Strategic Plan and the setting of KPIs;

2. to approve annual estimates of income and expenditure;

3. to ensure the solvency of the institution and the safeguarding of its assets;

4. to appoint or dismiss the Vice-Chancellor, the Clerk to the Governing Body, the Chaplain and such other senior posts designated by the Governing Body;

5. to ensure that there are suitable arrangements for monitoring the Vice-Chancellor’s performance;

6. to vary or revoke of the Instrument or Articles of Government (subject to provisions within those documents regarding the Archbishops’ Council);

7. to ensure compliance with Company and Charity law;

27 | Canterbury Christ Church University Financial Statements 2025

Statement of corporate governance

(continued)

8. to approve annual financial statements upon external audit;

9. to approve the constitution of the student body (Students’ Union) and receive audited accounts of the Students’ Union;

10. to approve the University’s Risk Management Framework, Risk Register and Risk Appetite Statement;

11. to approve and monitor widening participation arrangements, including OfS Access and Participation Plans;

12. to regularly monitoring performance against planned strategies and operational targets; and

13. to review its own effectiveness and performance and that of its committees formally every three years, and annually on a ‘light touch’ basis; and,

14. to review its terms of reference and work plan annually.

The Governing Body normally meets four times per year. In 2024/25 the Governing Body met on six occasions and approved one paper virtually outside of this schedule. The two extraordinary meetings took place in July 2025 and related to the appointment of a new Vice-Chancellor.

In addition, the Governing Body participated in the annual full day Strategy Day in October 2024, alongside members of the Senior Management Team. The Governing Body also attended the first full day Governor Enrichment Day in April 2025, consisting of visits to the School of Nursing, Midwifery and Social Work, and the School of Psychology and Life Sciences, as well as a training session on Governing Body responsibilities under both the Prevent and Protect Duties and ongoing activity in these areas.

The Academic Board, a committee of the Governing Body, chaired by the Vice-Chancellor, is responsible for all aspects of the academic work of the University and can establish such committees as are necessary. Each committee is chaired by a senior member of staff and faculties are represented on all committees. As part of the Transformational Change Programme, the membership of the Academic Board, and of its subcommittees, is currently under review, in order to align with the revised school structure.

Subject to the requirements of validating and accrediting bodies, the Academic Board is responsible for: general issues relating to the research, scholarship, teaching and courses at the University; the appointment of internal and external examiners; assessment and examination policies and procedures; the curriculum; academic standards and course validation; the procedures for the award of qualifications and honorary academic titles; the procedure for the suspension or expulsion of students for academic reasons; for considering the development of the University’s academic activities; and for advising on such other matters as the Governing Body or the Vice-Chancellor and Principal may refer to it.

An overview of the central academic committees of the University, including membership and terms of reference can be found on the University’s website.

There are four other Governing Body committees: Chairs’ Committee, Finance and Resources Committee, Audit Committee and Remuneration Committee, all of which include independent governors.

Decisions and recommendations of Governing Body committees are reported to the Governing Body and terms of reference are reviewed on an annual basis.

The Chairs’ Committee is responsible for advising the Governing Body about governance policy and practice; monitoring the University’s register of interests; considering nominations to the Governing Body and recommending appointments to it; considering Honorary Fellowship and Doctorate nominations; considering nominations for naming University buildings and rooms; monitoring compliance with the CUC Code of Governance; oversight of committee terms of reference and schedule of delegation; oversight of annual governor informal discussions and three yearly review of governance; reviewing its own effectiveness and performance annually on a ‘light touch’ basis and formally every three years; strategic oversight of Estates Planning; and there is an annual review of Chairs’ Committee terms of reference and work plan.

28 | Canterbury Christ Church University Financial Statements 2025

Statement of corporate governance

(continued)

The Chairs’ Committee membership consists of:

The Finance and Resources membership was expanded from 1 August 2024 onwards to include a staff governor member, following a recommendation made in the 2024 Governance Effectiveness Review. A co-opted member was also recruited to the Committee from 1 August 2025, to ensure that there were sufficient levels of expertise in all areas of responsibility. The Finance and Resources Committee membership consists of:

The Chairs’ Committee normally meets three times in each academic year. In 2024/25 the Chairs’ Committee met on three occasions and approved two papers virtually outside of that schedule, to enable timely action.

The Finance and Resources Committee is responsible for the financial affairs of the University including consideration of estimates of income and expenditure and the consolidated financial statements; the strategic management of the University’s estate; major building developments, acquisitions or disposals; the efficient use of physical resources; the care and maintenance of the University’s estate; consideration and monitoring of the ICT strategy; oversight of the Vice-Chancellor’s actions related to human resources and strategic oversight of the University’s People Strategy; strategic oversight of the widening participation agenda; annual accounts of the Students’ Union; oversight of the University’s subsidiary companies; approval of financial regulations, policies and procedures; oversight of TRAC returns; oversight of the sustainability agenda; and reviewing its terms of reference and work plan annually.

And co-opted member:

The Finance and Resources Committee normally meets three times in each academic year. In 2024/25 the Finance and Resources Committee met on three occasions and approved one paper virtually outside of this schedule.

29 | Canterbury Christ Church University Financial Statements 2025

Statement of corporate governance

(continued)

The Audit Committee is responsible for the appointment of the External Auditor; discussing the nature and scope of the external audit; discussing with the external auditor any arising problems including a review of the management letter; appointing the internal auditor; reviewing the internal audit strategy and findings; monitoring the effectiveness of risk management; monitoring the implementation of audit recommendations; ensuring all significant losses are investigated; overseeing policies on fraud and irregularity; monitoring arrangements to promote economy, efficiency and effectiveness; receiving reports from the National Audit Office, the regulator and other organisations; monitoring performance of both internal and external audit; considering financial statements in the presence of the external auditor; monitoring data assurance arrangements; monitoring KPIs; considering the Audit Committee Annual Report; and reviewing its Terms of Reference and Work Plan annually.

Remuneration Committee membership consists of:

And Co-opted member:

The Remuneration Committee normally meets once in each academic year.

In addition to these Committees, a Vice-Chancellor Appointment Committee was convened in March 2025 to oversee the recruitment and appointment of a new Vice-Chancellor. The membership of the Committee consisted of:

The Audit Committee membership consists of:

And Co-opted members:

The Audit Committee normally meets four times in each academic year. In 2024/25 the Audit Committee met on four occasions, with the February meeting extended by 1.5 hours to accommodate a deep dive into a particular risk area.

The Remuneration Committee is responsible for determining the pay and conditions of employment for the Vice-Chancellor; the senior management team; and other senior staff deemed appropriate.

The Committee was dissolved on 31 July once the appointment of a new Vice-Chancellor had been formally approved by the Governing Body, at its meeting of 30 July 2025.

30 | Canterbury Christ Church University Financial Statements 2025

Statement of corporate governance

(continued)

The University ensures openness and transparency in order that stakeholders can have confidence in its decision-making and management processes.

Transparency about the corporate governance arrangements of the University is achieved by virtue of publication of the following documents on its website:

The University refreshed its Fit and Proper Persons Policy in November 2024. and it also updated its Governor Skills and Experience Framework in March 2025 to include diversity considerations (now Skills, Experience and Diversity Framework).

The University undertook a significant piece of work throughout 2024/25 in response to the anticipated introduction of the Economic Crime and Corporate Transparency Act (2023) on 1 September 2025. The University worked to strengthen and align various relevant policies and training programmes in areas of Fraud and Bribery into one cohesive Fraud, Bribery and Corporate Corruption Policy and associated training programme. This was approved by the Audit Committee at its 15 September 2025 meeting.

The University has also undertaken an in-depth review and update of its Schedule of Delegation, to ensure it corresponds with the University’s Articles of Association (and remains compliant with OfS Condition of Registration E2) and to ensure alignment with the new institutional structure post-Transformational Change Programme.

The Governing Body ensures the adequacy and effectiveness of arrangements for corporate governance, risk management and oversight of any statutory and other regulatory responsibilities, including compliance with ongoing OfS conditions of registration, terms and conditions of funding as well as any other relevant regulatory responsibilities by:

31 | Canterbury Christ Church University Financial Statements 2025

Statement of corporate governance (continued)

Specifically, in terms of public funding from the OfS, UK Research and Innovation (UKRI, including Research England), the Department for Education or the Education and Skills Funding Agency the University ensures: a. regularity in the use of public funding; and b. propriety in the use of public funding by: the provision of a framework of financial controls for the University in the Financial Regulations and associated Financial Procedures.

The various elements of the University’s Financial Regulations were approved by the Finance and Resources Committee at its meetings on 5 March and 4 June 2025. The Financial Regulations are subordinate to the University’s Articles and to any

restrictions contained in terms of conditions of funding and the audit code of practice.

The purpose of the Financial Regulations is to provide control over the totality of the University’s resources and provide assurance in respect of a., and b., above. Compliance with the Financial Regulations is mandatory. Breaches are notified to the Governing Body via the Audit Committee.

This statement covers the reporting period from 1 August 2024 to the date of signing and approving the financial statements on 25 November 2025.

32 | Canterbury Christ Church University Financial Statements 2025

Modern slavery and human trafficking

The University is committed to ensuring that slavery and human trafficking is not occurring in its supply chain, in line with the Modern Slavery Act 2015. As a valuesbased institution, the University condemns any form of labour exploitation or human trafficking and expects all its suppliers and business partners to adhere to the principles set out in the Modern Slavery Act.

Oversight of the management of risks of modern slavery and human trafficking in the supply chain is provided by a nominated senior manager, the Director of Finance.

The University’s Modern Slavery and Human Trafficking Statement has the support of the full Governing Body and was approved by the Governing Body at its meeting on 25 November 2025.

Actions taken by the University in this financial year to meet its obligations include:

monitored as part of initial and ongoing due diligence review of partnerships.

Sustainability Tool

The sustainability tool was launched in 2023 and allows for the monitoring of the sustainability impacts of University suppliers which have registered, including modern slavery risks.

In the first full year of operation we have used the tool to confirm that, of the 188 suppliers who have self-certified that they are a supplier to CCCU:

Procurement Activity

In the 2024-25 financial year the Procurement Team managed the award of thirty four major supply contracts. Eight of these contracts were classed as being at high risk of modern slavery. As part of the due diligence process, all new suppliers were asked to confirm that they had arrangements in place to manage the risk of slavery in their supply chains.

Contracts agreed with all major suppliers include the requirement to confirm compliance with the modern slavery and human trafficking reporting standards. This includes the memorandum of association (MOAs) in place with all collaborative partners. This requirement is

The tool also captures information about incidents of modern slavery, staff training, risk analysis and reporting mechanisms. This data will be used to increase the number of suppliers that use the tool (prioritising suppliers of high-risk goods or services) and to encourage companies to improve their arrangements for managing modern slavery risks. In addition, the provider of the tool, Netpositive Futures, invites all suppliers that subscribe to the tool to free modern slavery briefing sessions to help them develop their approach.

33 | Canterbury Christ Church University Financial Statements 2025

(continued)

Modern slavery and human trafficking

Operational Control Procedure

As part of its Environmental Management System (EMS), the University maintains a suite of Operational Control Procedures (OCPs) that outline the measures that have been adopted to ensure its sustainability commitments are effectively managed. In the previous year, the OCPs relating to procurement and modern slavery were consolidated to provide a more integrated and focused approach to identifying and mitigating supply chain risks. This year, the procedure for responding to potential instances of modern slavery within the supply chain has been further strengthened. The University has adopted a clear policy: it will not engage with suppliers who are legally required to publish a modern slavery statement but have failed to do so. Such suppliers will be given a three-month period to comply. Failure to meet this requirement will result in the termination of their contract.

Procurement Partners

The University awards many of its contracts through prenegotiated framework agreements, the majority of which are managed by the Southern Universities Purchasing Consortium (SUPC). Responsible procurement is embedded across all SUPC activities, ensuring that ethical and sustainability considerations are integral to the contracting process, meaning the University can access high quality, sustainable contracts.

For suppliers operating in higher-risk spend categories— such as IT hardware and garment manufacturing—SUPC requires a commitment to the Ethical Trading Initiative (ETI) Base Code. This internationally recognised code of labour practice is grounded in the core conventions of the International Labour Organization (ILO).

SUPC, along with other regional university purchasing consortia with whom the University collaborates, is also affiliated with Electronics Watch—a not-for-profit organisation that supports public sector buyers in promoting and protecting workers’ rights in global supply chains. This affiliation is particularly relevant to the procurement of IT equipment, which is recognised as a high-risk industry in terms of labour rights and safety standards.

SUPC is committed to sourcing goods and services for its members in a way that avoids harm to individuals and communities. Its partnership with Electronics Watch plays a key role in achieving this objective by providing a robust mechanism for monitoring labour conditions in electronics supply chains across Europe.

34 | Canterbury Christ Church University Financial Statements 2025

Statement of internal control

The Governing Body has responsibility for maintaining a sound system of internal control that supports the achievement of policies, aims and objectives, while safeguarding the public and other funds and assets for which they are responsible, in accordance with the responsibilities assigned to the Governing Body in the University’s Instrument and Articles of Governance and the Terms and Conditions of Funding for Higher Education Institutions from the OfS.

The system of internal control is designed to manage rather than eliminate the risk of failure to achieve policies, aims and objectives; it can therefore only provide reasonable and not absolute assurance of effectiveness.

The system of internal control is based on an ongoing process designed to identify the principal risks to the achievement of policies, aims and objectives; to evaluate the nature and extent of those risks; and to manage them efficiently, effectively and economically. This process has been in place for the year ended 31 July 2025 and up to the date of approval of the Strategic Report and Financial Statements and accords with the OfS and Turnbull guidance.

The Governing Body has responsibility for the institution’s system of internal control, for reviewing its effectiveness and ensuring that the review has covered all controls (financial, operational, risk management and compliance).

The following processes have been established:

35 | Canterbury Christ Church University Financial Statements 2025

Statement of internal control

(continued)

Regular reports are received from the Audit Committee concerning findings of the Internal Auditor and matters relating to internal control. The Vice-Chancellor provides a written report to the Audit Committee on the University’s approach to Risk Management at each of its meetings and an annual report is presented each year.

The Governing Body’s review of the effectiveness of the system of internal control is also informed by the work of the executive managers within the University, who have responsibility for the development and maintenance of the internal control framework, and by comments made by the External Auditors in their management letter.

The University has appointed Internal Auditors, who operate to standards defined by the Chartered Institute of Internal Auditors. The Internal Auditors submit regular reports which include their independent opinion on the adequacy and effectiveness of the system of internal control, together with recommendations for improvement.

Control weaknesses identified in year have been addressed by management, and there are no significant control weaknesses to note at the end of the year.

36 | Canterbury Christ Church University Financial Statements 2025

Independent auditor’s report to the governing body of Canterbury Christ Church University

Opinion

We have audited the financial statements of Canterbury Christ Church University (‘the University’) and its subsidiary (‘the Group’) for the year ended 31 July 2025 which comprise the Consolidated and University Statement of Comprehensive Income and Expenditure, the Consolidated and University Statement of Changes in Reserves, the Consolidated and University Statement of Financial Position, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard Applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and University in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

In our opinion, the financial statements:

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group’s and University’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

37 | Canterbury Christ Church University Financial Statements 2025

Independent auditor’s report to the governing body of Canterbury (continued) Christ Church University

Other information

The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Responsibilities of Directors

As explained more fully in the Statement of Responsibilities of the Directors set out on page 24, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Group and 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 the directors either intend to liquidate all or part of the University Group or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Irregularities, including fraud, are instances of noncompliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

38 | Canterbury Christ Church University Financial Statements 2025

Independent auditor’s report to the governing body of Canterbury (continued) Christ Church University

Based on our understanding of the University Group and its operations, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: OfS requirements, UK tax legislation, pensions legislation, employment regulation and health and safety regulation, anti-bribery, corruption and fraud and money laundering.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as pensions legislation, the OfS Accounts Direction and the Companies Act 2006.

In addition, we evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements,

including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to defined benefit pension obligations, revenue recognition (which we pinpointed to the cut-off assertion), and significant one-off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor’s report.

39 | Canterbury Christ Church University Financial Statements 2025

Independent auditor’s report to the governing body of Canterbury (continued) Christ Church University

Other Required Reporting

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Opinion on other matters prescribed in the OfS Audit Code of Practice issued under the Further and Higher Education Act 1992

In our opinion, in all material respects:

Matters on which we are required to report by exception

In light of the knowledge and understanding of the group and University and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

We have nothing to report in respect of the following matters in relation to which the OfS Audit Code of Practice requires us to report to you if, in our opinion:

40 | Canterbury Christ Church University Financial Statements 2025

Independent auditor’s report to the governing body of Canterbury (continued) Christ Church University

Use of the audit report

This report is made solely to the University’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the University’s members 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 group and University and the University’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

Signed by Nicola Wakefield (Senior Statutory Auditor) for and on behalf of:

Forvis Mazars LLP Chartered Accountants and Statutory Auditor 6 Sutton Plaza, Sutton Court Road, Sutton Surrey, SM1 4FS

Date: 27 November 2025

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41 | Canterbury Christ Church University Financial Statements 2025
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Statement of principal accounting policies

1. Basis of Preparation

These financial statements have been prepared in accordance with the historical cost convention, taking into account the Statement of Recommended Practice (SORP): Accounting for Further and Higher Education 2019 and in accordance with Financial Reporting Standards FRS 102. The University is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. The University’s registered address and that of the subsidiary company is shown on page 1 of this report. Under FRS 102 the University has taken advantage of the exemptions for financial instrument disclosure for the parent and from providing a parent company cash flow statement.

The University is a public benefit entity and therefore has applied the relevant public benefit requirements of FRS 102. The Financial Statements are prepared in accordance with the historical cost convention. The principal accounting policies, which have been applied consistently throughout the current year are set out below.

The financial statements have been prepared on a going concern basis informed by the University’s future financial forecasts, taking into account possible changes in performance. In arriving at its assessment the Governing Body has reviewed the financial forecasts and is satisfied that the University has sufficient facilities to continue operating at its current level.

2. Critical Judgements

The following are the critical judgements that have been made in the process of applying the University’s accounting policies.

2.1 Income Recognition - Capital and Research Grants Received

The University’s accounting policy requires recognition of income when performance related conditions are met. Income received in advance of performance related conditions being met is recognised as deferred income within creditors on the balance sheet and released into income as the conditions are met. The research

contracts that are entered into by the University are assessed and any performance conditions identified. The income from these research activities is released based on the meeting of the conditions stated in the research contracts or on commencement of the activity if no conditions are specified. Where conditions have not yet been met the income is held as deferred income within creditors on the balance sheet.

2.2 Income Recognition – Deposit Interest

The income generated from short term deposits of cash and cash equivalents is seen to be part of the operating cash flow of the University as it is derived from short term investment of liquid cash and cash equivalents. The income will be reported as investment income in the Statement of Comprehensive Income, however, the appropriate treatment of this income in the Cash Flow Statement is to include it in the operational surplus/ (deficit).

2.3 Universities Superannuation Scheme

FRS 102 makes the distinction between a group plan and a multi-employer scheme. A group plan consists of a collection of entities under common control typically with a sponsoring employer. A multi-employer scheme is a scheme for entities not under common control and represents (typically) an industry-wide scheme such as Universities Superannuation Scheme. The accounting for a multi-employer scheme where the employer has entered into an agreement with the scheme that determines how the employer will fund a deficit results in the recognition of a liability for the contributions payable that arise from the agreement (to the extent that they relate to the deficit) with the resulting expense charged through the profit or loss account in accordance with section 28 of FRS 102. The directors are satisfied that Universities Superannuation Scheme meets the definition of a multi-employer scheme and if a recovery plan is in place, it will recognise the discounted fair value of the contractual contributions at the date of approving these financial statements. Where the fund is in surplus this is not required.

42 | Canterbury Christ Church University Financial Statements 2025

Statement of principal accounting policies

(continued)

2.4 Depreciation

The annual depreciation charge for fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. Depreciation methods, useful economic lives and residual values are reviewed by management at the date of preparation of each Statement of Financial Position.

3. Accounting Estimates

The key assumptions concerning the future, and other key estimation uncertainty at the balance sheet date that have a significant risk of causing material adjustment to the carrying amounts of the assets and liabilities within the next financial year are highlighted as follows.

3.1 Local Government Pension Scheme

The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost for pensions include the discount rate. Any changes in these assumptions as disclosed in note 25 will impact on the carrying value of the pension liability.

3.2 Bad Debt Provision

The provision for bad and doubtful debts is based on our estimate of the expected recoverability of debts. The assumptions underlying our estimate for bad debt provision are driven by the nature of debtor (i.e. student, accommodation and commercial debt), as well as by the age profile of the component debts. The validity of the respective provision percentages applied to each category of debt is reviewed against recent historic trends for debt recoverability each year, following which the rates are prudently revised where appropriate. On that basis, we believe that our estimate of bad debt provision each year closely aligns with the risk associated with the recoverability of outstanding debt.

3.3 Provision for Dilapidations

Provision is made for the cost of dilapidations of certain of the University’s lease hold buildings. This provision requires management’s best estimate of the costs

that will be incurred to settle a present obligation and management rely on the judgement of a qualified valuer in making these assumptions.

4. Basis of Consolidation

The consolidated financial statements include the University and its subsidiary company for the financial year to 31 July 2025. Intra-group transactions are eliminated on consolidation. The consolidated financial statements do not include the income and expenditure of the Students’ Union as the University does not exert control or dominant influence over policy decisions of the Union.

5. Recognition of Income

Income is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts and VAT recoverable from HM Revenue and Customs. Revenue from transactions that have a commercial substance, including tuition fee, accommodation, catering and conference income and consultancy fees are recognised as income in the Statement of Comprehensive Income using the Performance Related method of apportionment. Fee income is stated gross and credited to the income and expenditure account over the period in which students are studying. This may involve the deferral of income over more than one financial year. Where the amount of the tuition fee is reduced, by a discount awarded by the University for prompt payment, income receivable is shown net of the discount. Bursaries and scholarships are accounted for gross as expenditure and are not deducted from income.

Income generated as interest earned on short term deposits of cash and cash equivalents is recognised as investment income in the Statement of Comprehensive Income. In the past interest earned on liquid funds had been reported in the Cash Flow Statement as part of the University’s investment activities, which given that the University does not hold any income generating investments did not seem to be an appropriate treatment. Due to the very short-term nature of the deposits and cash held at the bank on which the interest is earned it seems more appropriate to recognise this as part of the University’ operating activities. Therefore, the income will now be included in the Cash Flow Statement as part of the surplus/(deficit) reported for the year.

43 | Canterbury Christ Church University Financial Statements 2025

Statement of principal accounting policies

(continued)

6. Grants

Revenue-based grants from Government, the Office for Students (OfS), the Department for Education (DfE) and HEKSS trusts are passed through the Income and Expenditure Account when the conditions

relating to the grant have been satisfied (see 5, Recognition of Income above). Grants or other contributions from Government and other bodies are accounted for using the performance model and are recognised in the financial statements when the conditions for their receipt have been complied with and there is reasonable assurance that the grant or contribution will be received.

7. Agency Arrangements

Funds the institution receives and disperses as a paying agent on behalf of a funding body are excluded from the income and expenditure of the University where the University is exposed to minimal risk or enjoys minimal economic benefit related to the transaction.

8. Foreign Currencies

Transactions denominated in foreign currencies are recorded at the rate of exchange ruling at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rate as at the year end. The resulting exchange differences are charged to the Statement of Comprehensive Income.

9. Operating Leases

Rental costs under operating leases are charged to expenditure in equal annual amounts over the period of the leases. Rent free periods or other incentives reduce the total expenditure on the lease, which is calculated by apportioning the total incentive over the remaining life of the lease.

10. Intangible Assets

The development cost to the University of software assets is capitalised as an intangible asset when the asset comes into full use. Software in development is held in the asset register until complete and fully in use. The value of the asset is stated at historic cost less accumulated amortisation charges, with amortisation being charged on a straight line basis from the month that the asset is fully developed.

Significant intangible assets with a value of £200,000 or more are amortised over 10 years and lower value assets of less than £200,000 are amortised over five years. The costs relating to the development of the medical programme are capitalised as an intangible asset. Development costs accrue from the date at which the contract was entered into, and are capitalised when the asset comes into use, and will be amortised when the benefits are realised on a straightline basis over five years.

11. Tangible Assets

Tangible assets are stated at historic purchase cost less accumulated depreciation, or in the case of Land and Buildings, at deemed cost based on the one-off revaluation undertaken as at 31 July 2014.

The total cost of an asset can include incidental expenses incurred by staff or consultants, where these costs relate entirely to the project. The costs of major building programmes will also include the interest charged on any related loan finance used to fund the building during the construction phase of creating the asset.

Depreciation is charged on a straight line basis from the month that the asset is acquired or that construction is complete. During the time of construction the value of the asset is held in assets under construction. Once construction is complete the value of the asset is transferred to the asset register. Depreciation commences from when the asset is commissioned into use.

Land is not depreciated as it is considered to have an indefinite useful life. Buildings are depreciated over their expected useful lives of up to 50 years. Assets in the course of construction are accounted for at cost incurred to the end of the year. They are not depreciated until they are ready for use. For large construction projects the components of the building are identified separately and are depreciated over the useful economic life as determined by the nature of the asset.

Costs incurred in relation to a tangible fixed asset, after the initial purchase or production, are capitalised to the extent that they increase the expected future benefits to the University from the existing tangible fixed asset beyond its previously assessed standard of performance; the cost of any such enhancements are added to the gross amount of the tangible fixed asset concerned.

44 | Canterbury Christ Church University Financial Statements 2025

Statement of principal accounting policies

(continued)

Minor works in excess of £10,000 are separately identified and depreciated over ten years. These have been included in the freehold land and buildings category in note 9.

Fixtures, fittings and equipment, including computers and software, costing less than £10,000 per individual item are written off in the year of acquisition.

Equipment that is capitalised is depreciated over the useful economic life expectancy of the asset. This is estimated to be 5 years for equipment including IT assets and between 10 to 25 years for plant and machinery. Where buildings, minor works and equipment are acquired with the aid of specific grants the asset is capitalised and depreciated as above. The related grants are released as income when the performance conditions are met, or on receipt of funds if no conditions are specified.

Expenditure to ensure that a tangible fixed asset maintains its previously recognised standard of performance is recognised in the Statement of Comprehensive Income in the period it is incurred.

The University has a planned maintenance programme, which is reviewed on an annual basis. All assets are reviewed on an annual basis for indicators of impairment. Any adjustment to the value of an asset for impairment is charged to the Statement of Comprehensive Income in the period it arises.

13. Stock

Stocks are materials held by various University departments including catering supplies, together with books and other items purchased for resale. Stocks relate to finished products and are valued at the lower of cost or selling price less costs to sell, on a first-in, first-out basis. Where necessary, provision is made for obsolete, slow-moving and defective stocks.

14. Cash and Cash Equivalents

Cash includes cash in hand, cash at bank, deposits repayable within 3 months and overdrafts.

15. Maintenance of Premises

The University has a long-term rolling maintenance plan which forms the basis of the ongoing maintenance of the estate. The cost of routine corrective maintenance is charged to the income and expenditure account as incurred.

A provision for dilapidation is made where the lease agreement requires the University to return the property to the landlord in a specified state. A provision is made for the estimated costs of the dilapidation spread over the period of tenancy. Any increase or decrease in this provision is charged to the Statement of Comprehensive Income.

12. Assets held for resale

Tangible assets that are held for resale are carried at a value that is the lower of net book value or expected recovery amount. Assets identified as being held for resale trigger an impairment review in line with the HE SORP. From the impairment review if an asset requires an adjustment to the carrying value the resulting impairment is charged to the Statement of Comprehensive Income.

45 | Canterbury Christ Church University Financial Statements 2025

Statement of principal accounting policies

(continued)

16. Taxation Status

The University is a registered charity within the meaning of Part 3 of the Charities Act 2011 and as such is a charity within the meaning of Section 506 of the income and Corporation Tax Act 1988. It is therefore a charity within the meaning of Para 1 of schedule 6 to Finance Act 2010 and accordingly, the University is potentially exempt from taxation in respect of income or capital gains received within categories covered by Sections 478-488 of the Corporation Taxes Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to exclusively charitable purposes.

Canterbury Christ Church University receives no similar exemption in respect of Value Added Tax (VAT). Irrecoverable VAT on inputs is included in the costs of such inputs. Any irrecoverable VAT allocated to tangible fixed assets is included in their cost.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. A net deferred tax asset is presented in the financial statements as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits against which to recover carried forward tax losses and from which the future reversal of underlying timing differences can be deducted. Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on an undiscounted basis.

17. Pension Schemes

Retirement benefits to employees of the University are provided by the Local Government Pension Scheme (LGPS), the University Superannuation Scheme (USS) and the Teachers’ Pension Scheme (TPS). These are defined benefit schemes, with the USS and TPS schemes being multi-employer schemes. It is not possible to identify the assets and liabilities of multi-employer schemes which are attributable to

the University on a consistent and reliable basis. In accordance with FRS 102, the USS and TPS pension schemes are accounted for on a defined contribution basis and the contributions to these schemes are included as expenditure in the period in which they are payable in the Statement of Comprehensive Income.

The University has an agreed obligation to fund past deficits of the USS and therefore, if the scheme is reporting a deficit the University recognises the net present value of contributions payable that arise from this agreement as a liability in the Statement of Financial Position (Balance Sheet).

The TPS is an unfunded scheme and there is no liability for past deficits reported for this scheme.

The University is able to identify its share of assets and liabilities of the LGPS. The movement in the defined benefit liability of this scheme, when adjusted for payments into and out of the plan, is charged to the Statement of Comprehensive Income. This cost is the aggregation of changes in the defined benefit obligation and changes in plan assets. To identify this liability the assets of the LGPS are valued using bid values. LGPS liabilities are measured using the projected unit method and discounted at the current rate of return on a highquality corporate bond of equivalent term and currency to the liability. The increase in the present value of the liabilities of the scheme expected to arise from employee service in the period is charged to Operating Expenses, Note 8.

The difference between the fair value of the University’s share of the assets held in the LGPS defined benefit pension scheme and the scheme’s liabilities measured on an actuarial basis using the projected unit method are recognised in the University’s Statement of Financial Position (Balance Sheet) as a pension scheme liability. The carrying value of any resulting pension scheme asset is restricted to the extent that the University is able to recover the surplus through reduced contributions in the future or through funds from the scheme.

Actuarial gains and losses, and movements to the defined benefit pension scheme’s assets or liabilities arising from a change in actuarial assumptions are charged to the Statement of Comprehensive Income in accordance with FRS 102.

46 | Canterbury Christ Church University Financial Statements 2025

Statement of principal accounting policies

(continued)

18. Investments

Endowment asset investments are held as cash.

Where charitable donations are to be retained for the benefit of the institution as specified by the donors, these are accounted for as endowments in the reserves on the Balance Sheet. The University has two main types of endowments:

19. Financial Instruments

The University does not hold any non-basic financial instruments. The primary financial instruments are cash, loans, receivables from trade debtors and payables to creditors and suppliers. The recognition of trade debtors and trade creditors is at fair value. Loans, accruals and prepayments are recognised at the amortised cost.

Financial assets and financial liabilities are recognised when the Group becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered

into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Group intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income.

47 | Canterbury Christ Church University Financial Statements 2025

Statement of principal accounting policies

(continued)

20. Investment in Subsidiaries

The investment in the subsidiary undertaking is shown at cost less any impairment value. The University carries out an annual impairment review of the investment in the subsidiary.

21. Reserves

Reserves are classified as restricted or unrestricted. Restricted endowment reserves include balances which, although endowed to the University, are held as a permanently restricted fund which the University must hold in perpetuity. The following reserves are maintained:

48 | Canterbury Christ Church University Financial Statements 2025

Consolidated and University statement of comprehensive income and expenditure for the year ended 31 July 2025

Notes
INCOME
Tuition fees and education contracts
1
Funding body grants
2
Research grants and contracts
3
Other income
4
Investment income
5
Total income
EXPENDITURE
Staf costs
6
Exceptional staf costs relating to
the Transformational Change Programme
6
Interest and other fnance costs
7
Other operating expenses
8
Depreciation and Amortisation
9, 11
Total Expenditure
8
Surplus for the year before loss
on disposal of fxed assets
Impairment of Fixed Assets
Loss on disposal of fxed assets
Surplus/(Defcit) for the year
Endowment comprehensive income for the year
17
Actuarial loss in respect of pension scheme
25
Total comprehensive surplus for the year
Represented by:
Endowment comprehensive (losses)/gain for the year
17
Unrestricted comprehensive gain for the year
Surplus for the year attributable to the University		 Consolidated Consolidated University University
2025 2024 2025 2024
£’000 £’000 £’000 £’000
312,775
277,704
21,431
18,918
1,406
1,102
16,268
17,038
4,775
4,353		 312,775
277,704
21,431
18,918
1,406
1,102
16,017
16,870
4,758
4,335
356,655
319,115		 356,387
318,929
100,765
98,036
5,691
-
3,081
3,582
233,570
199,713
10,651
10,539		 100,658
97,936
5,691
-
3,081
3,582
233,437
199,683
10,651
10,539
353,758
311,870		 353,518
311,740
2,897
7,245
-
-
-
-		 2,869
7,189
-
-
-
-
2,897
7,245		 2,869
7,189
(44)
2
(2,333)
(2,195)		 (44)
2
(2,333)
(2,195)
520
5,052		 492
4,996
(44)
2
564
5,050		 (44)
2
536
4,994
520
5,052		 492
4,996

49 | Canterbury Christ Church University Financial Statements 2025

Consolidated and University statement of changes in reserves for the year ended 31 July 2025

CONSOLIDATED
Balance at 1 August 2023
Surplus from the income and expenditure statement
Other comprehensive income
Total comprehensive income for the year
Balance at 31 July 2024
Balance at 1 August 2024
Surplus from the income and expenditure statement
Other comprehensive income
Total comprehensive income for the year
Balance at 31 July 2025
UNIVERSITY
Balance at 1 August 2023
Surplus from the income and expenditure statement
Other comprehensive income
Total comprehensive income for the year
Balance at 31 July 2024
Balance at 1 August 2024
Surplus from the income and expenditure statement
Other comprehensive income
Total comprehensive income for the year
Balance at 31 July 2025		 Income and expenditure account Income and expenditure account Income and expenditure account Income and expenditure account
Expendable Restricted Unrestricted Total
£'000 £'000 £'000 £'000
458
35
-
-
-
2		 137,690
138,183
7,245
7,245
(2,195)
(2,193)
-
2		 5,050
5,052
458
37		 142,740
143,235
458
37
-
-
(16)
(28)		 142,740
143,235
2,897
2,897
(2,333)
(2,377)
(16)
(28)		 564
520
442
9		 143,304
143,755
Income and expenditure account
Expendable Restricted Unrestricted Total
£'000 £'000 £'000 £'000
458
37
-
-
-
2		 137,673
138,168
7,189
7,189
(2,195)
(2,193)
-
2		 4,994
4,996
458
39		 142,667
143,164
458
39
-
-
(16)
(30)		 142,667
143,164
2,869
2,869
(2,331)
(2,377)
(16)
(30)		 538
492
442
9		 143,205
143,656

50 | Canterbury Christ Church University Financial Statements 2025

Consolidated and University statement of financial position as of 31 July 2025

Notes
Non-current assets
Tangible assets
9
Non-current investments
10
Intangible assets
11
Current assets
Stock
Trade and other receivables
12
Cash and cash equivalents
18
Less: Creditors: amounts falling due within one year
13
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than one year
14
Provisions
Pension liability LGPS
25
Other provisions
16
Total net assets
Restricted Reserves
Income and expenditure reserve - permanent endowment reserve
17
Income and expenditure reserve - expendable endowment reserve
17
Unrestricted Reserves
Income and expenditure -
Local Government Pension Scheme reserve
Income and expenditure reserve -
unrestricted (including pension)
Total Funds		 Consolidated Consolidated University University
2025 2024 2025 2024
£’000 £’000 £’000 £’000
157,633
162,863
-
-
19,329
18,136		 157,633162,863
450
450
19,329
18,136
176,962180,999
239
249
140,393
143,855
60,801
57,346		 177,412
181,449
239
249
140,433
143,881
60,337
56,956
201,433201,450
(181,343)
20,090
16,596		 201,009201,086
(185,011)
19,541
16,075
197,052
197,595
(46,681)(50,328)
-
-
(6,616)
(4,032)		 196,953
197,524
(46,681)( 50,328)
-
-
(6,616)
(4,032)
143,755
143,235		 143,656
143,164
9
37
442
458		 9
37
442
458
451
495
-
-
143,304
142,740		 451
495
-
-
143,205142,669
143,304
142,740		 143,205142,669
143,755
143,235		 143,656
143,164

The Financial Statements on pages 43 to 71 were approved and authorised for issue by the Governing Body on 25 November 2025 and signed on its behalf by:

Professor R Thirunamachandran Ms J Armitt Vice Chancellor and Principal Pro-Chancellor (Chair of the Governing Body)

51 | Canterbury Christ Church University Financial Statements 2025

for the year ended 31 July 2025

Consolidated cash flow statement

Notes
Cash fow from operating activities
Surplus for the year
Adjustment for non-cash items
Depreciation and amortisation
9, 11
Decrease / (increase) in stock
Decrease / (increase) in debtors
12
(Decrease) / increase in creditors
13
Increase / (decrease) in other provisions
16
Pension charges
23
Adjustment for investing or fnancing activities
Interest payable
7
Endowment income and donations
Capital Grant income
2
Net cash infow from operating activities
Cash fows from investing activities
Payments made to acquire tangible and intangible assets
9, 11
Capital grant receipts
2
Net cash (outfow) from investing activities
Cash fows from fnancing activities
Interest paid
7
Endowment cash received
17
Payments from endowment assets
17
Repayments of amounts borrowed
15
Net cash (outfow) from fnancing activities
Increase in cash and cash equivalents in the year
Cash and cash equivalents at beginning of the year
18
Cash and cash equivalents at end of the year
18		 2025 2024
£’000 £’000
2,897
7,245
10,651
10,539
10
(10)
3,462
(39,258)
(3,446)
43,820
2,584
(7,012)
(2,333)
(2,166)
3,081
3,553
-
(104)
(108)
(355)
16,798
16,252
(6,614)
(7,226)
108
355
(6,506)
(6,871)
(3,081)
(3,553)
108
104
(152)
(102)
(3,712)
(3,796)
(6,837)
(7,347)
3,455
2,034
57,346
55,312
60,801
57,346

52 | Canterbury Christ Church University Financial Statements 2025

Notes to the Financial Statements

1. TUITION FEES AND EDUCATIONAL CONTRACTS Consolidated & University Consolidated & University
2025 2024
£’000 £’000
Full-time Home and EU Students
Full-time Students Overseas
Part-time Students
Total fees paid by or on behalf of individual students
Education contracts
Total
2. FUNDING BODY GRANTS
Recurrent grant
Ofce for Students
Research England
Education and Skills Funding Agency
Total recurrent grants
Specifc grants
Regional Innovation Fund
Higher Education Innovation Fund
QR Policy Support
Enhancing Research Culture
QR Participatory Research
Department for Education
Total specifc grants
Capital grants received and recognised in the year
OfS - Teaching Capital Investment Fund
OfS - Research Capital Investment Fund
NHSE (Formerly HEE - KMMS)
Total capital grants
Total		 289,636
16,556
2,502		 252,174
16,951
4,519
308,694
4,081		 273,644
4,060
312,775 277,704
Consolidated & University
2025 2024
£’000 £’000
13,467
3,421
3,516		 10,703
3,412
3,446
20,404
-
699
50
150
20
-		 17,561
36
738
50
150
20
8
919
-
108
-		 1,002
50
100
205
108 355
21,431 18,918

53 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

3. RESEARCH GRANTS AND CONTRACTS
Research Councils
Charities
Government (UK and Overseas)
Industry and Commerce
Other		 Consolidated & University Consolidated & University
2025 2024
£’000 £’000
231
426
463
79
207		 198
289
307
113
195
1,406 1,102

The source of grant and fee income, excluding VAT, included in notes 1 to 3 is as follows:

Grant and fee income
Grant income from the Ofce for Students
Grant income from other bodies
Fee income for taught awards
Fee income for research awards
Fee income from non-qualifying courses		 Consolidated & University Consolidated & University
2025 2024
£’000 £’000
13,467
9,370
310,970
772
1,033		 10,753
9,267
276,113
666
925
335,612 297,724
4. OTHER OPERATING INCOME
Residences, catering and conferences
Other income generating activities
Other operating income		 Consolidated Consolidated University University
2025 2024 2025 2024
£’000 £’000 £’000 £’000
8,428
6,888
954		 8,020
8,214
804		 8,428
6,888
701		 8,020
8,214
636
16,268 17,038 16,017 16,870

Other income generating activities above include consultancy fees and consultancy contracts, social work and community engagement.

5. INVESTMENT INCOME
Interest on cash and cash equivalents
Pensions interest		 Consolidated Consolidated University University
2025 2024 2025 2024
£’000 £’000 £’000 £’000
2,808
1,967		 2,647
1,706		 2,791
1,967		 2,629
1,706
4,775 4,353 4,758 4,335

54 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

6. STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
Total		 Consolidated Consolidated
2025 2024
£’000 £’000
82,989
7,915
15,552		 75,994
7,303
14,739
106,456 98,036

The other pension costs represents the total value of contributions due in the year to TPS, USS and LGPS. The actuarially calculated service costs charged was less than the amount of contribution paid in year, and therefore the charge to other operating expenses was a net credit of (£366k) after taking into account administrative charges (2024: the net credit was £489k). The total pension charges recognised for the year are reported in Note 25.

Included in Wages and salaries and other pension costs are severance payments of £5,691k for 246 members of staff (2024: £1,902k for 73 members of staff). The University has in place a redundancy policy that is applied for all instances of restructuring that may generate a redundancy situation. Although every effort is taken to minimise the risk of redundancy, where redundancies are unavoidable, the University will endeavour to handle them fairly, consistently, empathetically and with dignity. The policy defines the measures that will be taken to ensure this, through providing meaningful information, and consulting and involving employees and recognised trade unions regarding proposals for organisational change.

All Staff are employed by Canterbury Christ Church University. The average monthly number of persons (including senior post holders) employed during the year, expressed as full time equivalents was:

Average monthly number of persons employed
Academic Staf
Professional Service Staf
Academic Support Staf
Total		 2025 2024
Number Number
601
747
226		 653
851
258
1,574 1,762

Key Management Personnel

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the University and the Group. Staff costs includes compensation paid to key management personnel. Compensation consists of salary and benefits, including employer’s pension contribution. The Key Management Personnel in the University are members of the Senior Management Team.

In 2024/2025 there were 14 senior post holders holding positions for 13 roles (due to staff changes in year).

Key management personnel compensation 2025 2024
£’000 £’000
2,211 2,051

55 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

6. STAFF COSTS(continued)
Remuneration of higher paid staf
£100,000 to £104,999
£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
£130,000 to £134,999
£140,000 to £144,999
£150,000 to £154,999
£155,000 to £155,999
£160,000 to £164,999
£165,000 to £169,999
£170,000 to £174,999
£175,000 to £179,999
£180,000 to £185,000
£190,000 to £194,999
Excluding the Vice Chancellor		 2025 2024
Number Number
-
-
-
3
3
1
-
1
-
-
-
-
-
-
-
-		 -
2
-
3
3
-
-
1
-
-
-
-
1
-
-
1
8 11

In accordance with the OfS Accounts Direction, the table above includes the number of staff with a full-time equivalent basic salary of over £100,000 per annum. Basic salary includes market supplements but excludes bonus payments, allowances and other such payments. As per the guidance it also does not include any staff who joined or left during the financial year.

Directors’ remuneration

The emoluments paid to the 4 members of the Governing Body (2024: 5), who are listed as Directors at Companies House, and their accrued benefits under defined benefits pension schemes are shown below:

Salaries
Employer's pension contributions
Total Directors' remuneration		 2025 2024
Number Number
517
56		 525
61
573 586
Emoluments of the Vice-Chancellor,
being the highest paid director		 2025 2024
£’000 £’000
Salary
Employer's pension contributions
Total emoluments of the Vice-Chancellor		 297
-		 293
8
297 301

56 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

6. STAFF COSTS (continued)

Emoluments of the Vice-Chancellor (continued)

The emoluments of the Vice Chancellor are shown on the same basis as for higher paid staff. There have been no non-taxable or taxable benefits paid to the Vice Chancellor in the year other than those that are for the reimbursement of business travel and other business expenses. These are claimed in line with the University’s staff expenses policy. The Vice Chancellor’s expense claims and charges are approved by the Pro-Chancellor and published on the University’s website.

The Vice Chancellor has enhanced opt out membership of the USS Pension Scheme, and therefore, the contribution made by the University to the scheme on his behalf was at the rate of 6.5% to 31 December 2023. This reduced to zero contribution rate due from the employer from 1 January 2024.

The pay ratio of the Vice Chancellor’s total emoluments as a ratio to the median of the total emoluments for all staff is 8.0:1 (2024: 8.1:1). The pay ratio of the Vice Chancellor’s basic salary as a ratio to the median of the basic salary of all staff is 8.0:1 (2024: 7.9:1). These calculations are on a full time equivalent basis for all staff employed by the University whose payroll charges are included in the real time information report to HM Revenue and Customs. There is no difference between payment with or without pensions for the Vice Chancellor in 2025 as there were no employer’s contribution required on his behalf to the USS in year.

Determination of Vice Chancellor pay

The remuneration of the Vice-Chancellor is determined by the Remuneration Committee of the University which comprises three independent Governors, an independent external adviser, Lord Colgrain and the President of the Student Union. The Committee is chaired by Ms. Nadra Ahmed CBE DL and decisions of the committee are reported to the full Governing Body.

The remuneration of the Vice-Chancellor is based on an annual appraisal against objectives carried out by the ProChancellor. Any annual increase is based on the senior salary framework agreed in 2014.

The Vice-Chancellor continues to be held in high esteem within the higher education sector nationally and among wider stakeholders and is greatly valued by the Governing Body of the University. Based on the Vice-Chancellor’s performance in 2023-24 the remuneration committee agreed with the Pro-Chancellors’ assessment of an excellent performance and accordingly a pay increase in line with the national award was approved. The national award was paid to all staff in two tranches, with one award of a fixed sum increase being applied from 1 October 2024 and a further award to take pay up by 2.5% being paid from 1 March 2025. Taking this phasing of payment into account the overall increase to total salary for the year was 1.22%.

57 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

8. ANALYSIS OF TOTAL
EXPENDITURE BY ACTIVITY
Consolidated
University
2025
2024
2025
2024
£’000
£’000
£’000
£’000
Academic departments
253,744
221,143
253,744
221,143
Academic services departments
6,108
6,009
6,108
6,009
Administration and central services
44,861
40,001
44,621
39,871
Premises
16,950
14,825
16,950
14,825
Residences, catering and conferences
12,323
12,285
12,323
12,285
Research grants and contracts
4,611
1,809
4,611
1,809
Other expenses
1,429
1,677
1,429
1,677
Depreciation
10,651
10,539
10,651
10,539
Interest payable and other fnance costs
3,081
3,582
3,081
3,582
353,758
311,870
353,518
311,740
Consolidated
Other operating expenses include:
2025
2024
Auditor remuneration
£’000
£’000
Fees payable for the audit of the University's fnancial statements
66
52
Fees payable for the audit of fnancial statements of subsidiaries
10
5
Fees payable for other services
5
5
81
62
Operating lease rentals
Land and buildings
7,056
7,023
Equipment and other
114
152
7,170
7,175
7. INTEREST PAYABLE AND OTHER FINANCE COSTS
Consolidated & University
2025
2024
£’000
£’000
Loan interest
3,081
3,553
Unwind of discount on USS pension provision
-
29
Total
3,081
3,582
8a. ACCESS AND PARTICIPATION
Consolidated & University
2025
2024
£’000
£’000
Access Investment
1,228
1,122
Financial Support
3,986
4,250
Disability Support
1,670
1,698
Research and Evaluation
138
134
7,022
7,204		 8. ANALYSIS OF TOTAL
EXPENDITURE BY ACTIVITY
Consolidated
University
2025
2024
2025
2024
£’000
£’000
£’000
£’000
Academic departments
253,744
221,143
253,744
221,143
Academic services departments
6,108
6,009
6,108
6,009
Administration and central services
44,861
40,001
44,621
39,871
Premises
16,950
14,825
16,950
14,825
Residences, catering and conferences
12,323
12,285
12,323
12,285
Research grants and contracts
4,611
1,809
4,611
1,809
Other expenses
1,429
1,677
1,429
1,677
Depreciation
10,651
10,539
10,651
10,539
Interest payable and other fnance costs
3,081
3,582
3,081
3,582
353,758
311,870
353,518
311,740
Consolidated
Other operating expenses include:
2025
2024
Auditor remuneration
£’000
£’000
Fees payable for the audit of the University's fnancial statements
66
52
Fees payable for the audit of fnancial statements of subsidiaries
10
5
Fees payable for other services
5
5
81
62
Operating lease rentals
Land and buildings
7,056
7,023
Equipment and other
114
152
7,170
7,175
7. INTEREST PAYABLE AND OTHER FINANCE COSTS
Consolidated & University
2025
2024
£’000
£’000
Loan interest
3,081
3,553
Unwind of discount on USS pension provision
-
29
Total
3,081
3,582
8a. ACCESS AND PARTICIPATION
Consolidated & University
2025
2024
£’000
£’000
Access Investment
1,228
1,122
Financial Support
3,986
4,250
Disability Support
1,670
1,698
Research and Evaluation
138
134
7,022
7,204		 8. ANALYSIS OF TOTAL
EXPENDITURE BY ACTIVITY
Consolidated
University
2025
2024
2025
2024
£’000
£’000
£’000
£’000
Academic departments
253,744
221,143
253,744
221,143
Academic services departments
6,108
6,009
6,108
6,009
Administration and central services
44,861
40,001
44,621
39,871
Premises
16,950
14,825
16,950
14,825
Residences, catering and conferences
12,323
12,285
12,323
12,285
Research grants and contracts
4,611
1,809
4,611
1,809
Other expenses
1,429
1,677
1,429
1,677
Depreciation
10,651
10,539
10,651
10,539
Interest payable and other fnance costs
3,081
3,582
3,081
3,582
353,758
311,870
353,518
311,740
Consolidated
Other operating expenses include:
2025
2024
Auditor remuneration
£’000
£’000
Fees payable for the audit of the University's fnancial statements
66
52
Fees payable for the audit of fnancial statements of subsidiaries
10
5
Fees payable for other services
5
5
81
62
Operating lease rentals
Land and buildings
7,056
7,023
Equipment and other
114
152
7,170
7,175
7. INTEREST PAYABLE AND OTHER FINANCE COSTS
Consolidated & University
2025
2024
£’000
£’000
Loan interest
3,081
3,553
Unwind of discount on USS pension provision
-
29
Total
3,081
3,582
8a. ACCESS AND PARTICIPATION
Consolidated & University
2025
2024
£’000
£’000
Access Investment
1,228
1,122
Financial Support
3,986
4,250
Disability Support
1,670
1,698
Research and Evaluation
138
134
7,022
7,204		 Consolidated & University Consolidated & University Consolidated & University Consolidated & University

2025
2024
£’000 £’000
3,081
-		 3,553
29
3,081 3,582
Consolidated University
2025 2024 2025 2024
£’000 £’000 £’000 £’000
253,744

6,108
44,861

16,950
12,323
4,611
1,429
10,651

3,081		 221,143
6,009
40,001
14,825
12,285
1,809
1,677
10,539
3,582		 253,744
221,143
6,108
6,009
44,621
39,871
16,950
14,825
12,323
12,285
4,611
1,809
1,429
1,677
10,651
10,539
3,081
3,582
353,758
 311,870 353,518
311,740
Consolidated
2025 2024
£’000 £’000
66
52
10
5
5
5
81
62
7,056
7,023
114
152
7,170
7,175
Consolidated & University

2025
2024
£’000 £’000
1,228
3,986
1,670
138		 1,122
4,250
1,698
134
7,022 7,204

*£2,028k of these costs are included in the staff cost figures included in note 6 of the financial statements (2024: £1,945k).

The published Access and Participation plan is available on: canterbury.ac.uk/about-us/access-and-participation

58 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

9. TANGIBLE ASSETS
Cost and deemed cost for land and buildings
At 1 August 2024
Additions in year
Transfer- Assets coming into use
Disposals in year
At 31 July 2025
Accumulated depreciation
At 1 August 2024
Charge for the year
Disposals in year
Impairment losses in year
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 UNIVERSITY UNIVERSITY UNIVERSITY UNIVERSITY UNIVERSITY
Freehold
land and
buildings		 Assets
under
construction		 Fixtures,
Fittings and
Equipment		 Plant and
Machinery		 Total
£’000 £’000 £’000 £’000 £’000
180,344
3,438
36,649
-
3,544
-
2,963
(5,435)
1,883
-
-
-		 9,253
229,684
-
3,544
282
(307)
-
-
183,307
1,547
38,532		 9,535
232,921
(34,918)
(81)
(25,593)
(4,651)
81
(3,246)
-
-
-
-
-
-		 (6,229)
(66,821)
(651)
(8,467)
-
-
-
-
(39,569)
-
(28,839)		 (6,880)
(75,288)
143,738
1,547
9,693		 2,655
157,633
145,426
3,357
11,056		 3,024
162,863

As part of the transition to FRS 102 the University’s land and buildings were valued at 31 July 2014 by Strutt and Parker, an external valuer, in accordance with RICS Valuation – professional standards.

Heritage Assets

Heritage assets held by the University consists of artwork and assets of cultural interest displayed in the University’s campuses held in perpetuity. The total estimated value of the assets determined at 31 July 2025 is £214k (2024: £173k). The recognition value of all items is based on the insurance replacement cost. The heritage assets are not depreciated as their individual value, other than for insurance purposes, is not known. These asset values are not included in the tangible asset note.

Assets Held for Resale

There were no tangible assets held for resale in the financial year to 31 July 2025.

Subsidiary Company Assets

There were no tangible or intangible assets held by the subsidiary company.

59 | Canterbury Christ Church University Financial Statements 2025

Notes to the Financial Statements

(continued)

10. NON-CURRENT INVESTMENTS
Investment in subsidiary
At 1 August 2024 and 31 July 2025		 University
£’000
450
450

Medco (CCCU) Limited had share capital of 10,000,000 £1 ordinary shares of which 4,500,002 were issued, all owned by Canterbury Christ Church University. £4,500,000 of the £1 ordinary shares were converted from issued and paid up redeemable preference shares at an Extraordinary General Meeting on the 7 November 2006. At an Extraordinary General Meeting held on 26 October 2009, Canterbury Christ Church University agreed to a voluntary reduction in its share capital from £4,500,002 to £449,999.

The subsidiary company Medco (CCCU) Limited had been dormant from July 2012. The company was reactivated and started trading as an agency for temporary staff from 1 February 2015. The results of the subsidiary company have been consolidated with the parent company’s statements. The registered address of the subsidiary company is the same as the parent: Anselm, North Holmes Road, Canterbury, Kent, CT1 1QU.

The Directors and Governing Body believe that the carrying value of the investment is underpinned by the operational value the business provides to the parent company. This support is in the form of agency workers in a range of roles within the University, and to students and graduates in the form of employment opportunities.

11. INTANGIBLE ASSETS
Cost
At 1 August 2024
Additions in year
Transfer- Assets coming into use
At 31 July 2025
Accumulated Amortisation
At 1 August 2024
Charge for the year
At 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024		 UNIVERSITY UNIVERSITY UNIVERSITY
Assets in
development		 Software Total
£’000 £’000
£’000
2,754
3,070
(88)		 20,570
-
395		 23,324
3,070
307
5,736 20,965
26,701
-
-		 5,188
2,184		 5,188
2,184
- 7,372
7,372
5,736 13,593
19,329
2,754 15,382 18,136

Intangible assets include software assets that are under development by the University and those that are complete and are brought into use in the year. This includes the development cost of the Medical School programme.

60 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

12. TRADE DEBTORS AND
OTHER RECEIVABLES
Trade debtors
Prepayments and accrued income
Amounts owed by subsidiary company		 Consolidated Consolidated University University
2025 2024 2025 2024
£’000 £’000 £’000 £’000
116,172
119,985
24,221
23,870
-
-		 116,216
119,985
24,217
23,870
-
26
140,393
143,855		 140,433
143,881

As at 31 July 2025 the University has a creditor of monies owed to the University of Kent of £2,139k (2024: £286k debtor)

13. CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR
Bank loans
Trade creditors
Amounts owed to subsidiary company
Taxation and social security
Accruals and deferred income		 Consolidated Consolidated University University
2025 2024 2025 2024
£’000 £’000 £’000 £’000
3,648
3,713
25,793
36,477
-
-
3,989
3,640
147,913
141,024		 3,648
3,713
25,725
36,449
175
175
3,971
3,640
147,949
141,034
181,343
184,854		 181,468
185,011

Amounts owed to the subsidiary company are unsecured, interest free and repayable 30 days from the date of invoice. The bank loans relate to the capital repayment of loan finance to support the campus redevelopment, the purchase of the prison and student accommodation in Broadstairs. The repayment profile has increased since the prior year due to the capital repayments now being made for the term loan for the Verena Holmes building, held jointly with Lloyds Bank PLC and the National Westminster Bank PLC. Loans are secured on assets held by the University and the loan agreement restricts further borrowing and indebtedness.

14. CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE YEAR
Secured loans		 Consolidated Consolidated University University
2025 2024 2025 2024
£’000 £’000 £’000 £’000
46,681
50,328		 46,681
50,328
46,681
50,328		 46,681
50,328

Loans held with Lloyds Bank PLC and the National Westminster Bank PLC (Natwest PLC) have been secured over the freehold land and buildings included in Tangible fixed assets in note 9.

61 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

15. BORROWINGS
Bank loans and overdrafts are repayable as follows:
In one year or less
Between one year and two years
Between two and fve years
In fve years or more
Total		 Consolidated & University Consolidated & University

2025
2024
£’000 £’000
3,648
3,678
11,229
31,774		 3,713
3,648
11,129
35,551
50,329 54,041

In April 2018 the University entered into a financing through a Revolving Credit Facility jointly with Lloyds Bank and Natwest to further support the Estates Master Plan for the second phase, including construction of the Verena Holmes building. The total credit agreement was for £47m for five years with the option to convert to a term loan on completion of the building programme. There was a non-utilisation charge whilst the funds remain committed but undrawn of 0.6%. The utilisation costs were expensed to the Statement of Comprehensive Income. This loan converted to a term loan on a 20 year amortisation profile on 24 April 2023, with £35m being drawn on the conversion date.

----- Start of picture text -----
Original Amount Amount
amount owed as at owed as at
borrowed Term Maturity Interest 31 July 2025 31 July 2024
Lender Purpose £000 (Years) date rate (%) £’000 £’000
----- End of picture text -----

Lender Purpose Original
amount
borrowed
£000		 Term
(Years)		 Maturity
date		 Interest
rate (%)		 Amount
owed as at
31 July 2025
£’000		 Amount
owed as at
31 July 2024
£’000
Lloyds Bank PLC Thanet Campus Development 4,250 - 96
Lloyds Bank PLC Thanet Accommodation
Development		 2,850 30 Dec 2033 4.25 788 879
Lloyds Bank PLC Canterbury Campus
Development		 8,750 26 Sep 2034 5.34 5,286 5,703
Lloyds Bank PLC Canterbury Campus
Development 1		 5,000 25 Dec 2034 4.25 2,387 2,631
Lloyds Bank PLC Canterbury Campus
Development 2		 17,250 25 Dec 2034 4.25 8,431 9,294
Lloyds Bank PLC Canterbury Campus
Development 3		 5,000 25 Dec 2034 4.06 2,375 2,624
Lloyds Bank PLC Verena Holmes (50%) 17,500 10 Apr 2033 6.22 15,531 16,407
NatWest PLC Verena Holmes (50%) 17,500 10 Apr 2033 6.22 15,531 16,407
50,329 54,041
16. PROVISIONS FOR LIABILITIES
At 1 August 2024
Additions in year
Utilised in year
At 31 July 2025		 Consolidated & University Consolidated & University Consolidated & University
Dilapidation
Provisions		 Other
Provisions		 Total
£’000 £’000 £’000
1,948
406
-		 2,084
2,738
(560)		 4,032
3,144
(560)
2,354 4,262 6,616

The University has provided for the potential future dilapidation costs of leased properties in line with the substance of the works required. Provision is also made for the return of unused student related funding from prior years, and for costs relating to expected works in leased properties.

62 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

17. ENDOWMENTS
Opening balance at 1 August 2024
Capital
Accumulated income
Movement for the year to date
New Endowments and donations
Donations
Interest
Expenditure
Total endowment comprehensive income
Closing balance at 31 July 2025
Represented by:
Capital
Accumulated income
Analysis by type of purpose:
Specifc donations
Scholarships and bursaries
Prize funds		 Consolidated & University Consolidated & University Consolidated & University Consolidated & University

Expendable
Restricted
Permanent
2025
Total		 2024
Total
£’000 £’000 £’000 £’000
458
37
-
-		 495
493
-
-
458
37
89
-
-
-
18
1
(123)
(29)		 495
493
89
46
-
32
19
26
(152)
(102)
(16)
(28)		 (44)
2
442
9		 451
495
442
9
-
-		 451
495
-
-
442
9		 451
495
-
-
230
6
212
3		 -
3
236
236
215
256
442
9		 451
495

The above amounts are all held as cash and cash equivalents.

18. CASH AND CASH EQUIVALENTS
University
Balance at bank - University
Cash and cash equivalents - endowment assets
Consolidated
Balance at bank - University
Balance at bank - Medco (CCCU) Limited
Cash and cash equivalents - endowment assets
19. CONSOLIDATED RECONCILIATION
Net debt 1 August 2024
Movement in cash and cash equivalents
New loans obtained in year
Loan repayments
Net debt 31 July 2025
Change in net debt		 At 1st August 2024 Cash Flows At 31st July 2025 At 31st July 2025

£’000		 £’000
£’000
56,436
520		 3,361
20		 59,797
540
56,956 3,381 60,337
56,436
390
520		 3,361
74
20		 59,797
464
540
57,346 3,455 60,801
OF NET DEBT
2025
£’000
(3,305)
(3,455)
-
(3,712)
(10,472)
(7,167)

63 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

19. CONSOLIDATED RECONCILIATION OF NET DEBT
(continued)
Analysis of net debt:
Cash and cash equivalents
Borrowings: amounts falling due within one year
Secured loans
Borrowings: amounts falling due after more than one year
Secured loans
Net debt		 2025 2024
£’000 £’000
60,801
3,648		 57,346
3,713
3,648
46,681		 3,713
50,328
46,681 50,328
(10,472) (3,305)

20. CONTINGENT LIABILITIES

There are no contingent liabilities to report for this year.

21. OTHER COMMITMENTS
Other commitments consist of long term arrangements for the use of Polo Farm
facilities by the University for a term of 65 years
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2025 2024
£’000 £’000
414
1,656
20,445		 389
1,558
19,624
22,515 21,571
22. LEASE OBLIGATIONS
Total rentals payable under non-cancellable operating leases:
Payable during the year
Future minimum lease payments due:
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years
Total lease payments due		 Land and
Buildings		 2025
Total		 2024
Total
£’000 £’000 £’000
7,246
7,210
26,701
84,725		 7,246
7,210
26,701
84,725		 6,183
6,507
24,703
83,890
118,636 118,636 115,100

The University had outstanding financial commitments in the form of open purchase orders with a total value of £5,981k at the year end (2024: £16,258k). These orders do not form part of the lease commitments.

64 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

23. RELATED PARTY DISCLOSURES

Canterbury Christ Church University’s subsidiary company, Medco (CCCU) Limited trades as a Unitemps staffing agency, under a franchise arrangement with Warwick University Enterprises Limited. The ultimate controlling party of the subsidiary company is the parent company, the University. The subsidiary company’s results have been consolidated with the parent company in these financial statements.

Funding council grants are disclosed on the face of the statement of comprehensive income and in the relevant notes to the financial statements.

The University provides a block funding grant on an annual basis to the Christ Church Students’ Union, an independent registered charity and separate legal entity. All transactions with the Students’ Union are completed at arms’ length. The elected President of the Students’ Union is a member of the University’s governing body, being a trustee and taking up a role on the Finance and Resources Committee and the full Governing Body meetings. The Deputy Vice Chancellor of the University is a trustee of the Students’ Union.

24. EVENTS AFTER THE REPORTING PERIOD

After the reporting period the University reached the difficult decision to terminate the partnership agreement with one of their collaborative partners, Elizabeth School of London. The letter of termination was issued on 16 October 2025. The University is now working closely with the Elizabeth School of London to arrange for the transfer of students to cause minimum disruption to their studies.

65 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

25. PENSION SCHEMES

The three principal pension schemes for Canterbury Christ Church University’s staff are the Teacher’s Pension Scheme (TPS), the local Government Pension Scheme (LGPS) and the Universities Superannuation Scheme (USS). The schemes are defined benefit schemes. The TPS and USS schemes are both multi-employer schemes and it is not possible to identify the assets of the schemes which are attributable to the University on a consistent and reliable basis. In accordance with FRS 102 the USS and TPS pension schemes are accounted for on a defined contributions basis. The contributions to these schemes are included as expenditure in the period in which they are payable in the Statement of Comprehensive Income.

The University had an agreed obligation to fund past deficits of the USS and therefore, when in deficit it will recognise the contributions payable that arise from the agreement as a liability in the Balance Sheet. As the scheme has now moved into surplus, there is no liability to be reported by the University in the financial year ending 31 July 2025.

The TPS is an unfunded scheme and therefore, no liability for past deficits are reported.

The total employer’s pension contribution for
Canterbury Christ Church University was:
Contribution to TPS
Contribution to LGPS
Contribution to USS
The Employer’s contribution percentage to each scheme at year-end was:
TPS
LGPS
USS		 2025 2024
£’000 £’000
9,120
6,511
287		 8,293
6,119
326
15,918 14,738
2025
2024
28.68%
19.50%
14.50%		 28.68%
18.50%
14.50%

The assumptions and other data relevant to the determination of the contribution levels of the schemes are as follows:

Latest actuarial valuation date
Actuarial Method
Discount rate
Salary scale increases per annum
Pension increases per annum
Market value of assets at date of last valuation
Notional value of assets at date of the last valuation
Proportion of members accrued benefts covered
by the actuarial value of assets		 TPS LGPS USS
31/03/20
Prospective
benefts
CPI +1.7%
3.80%
2.00%
N/A
£222.2bn
85%		 31/03/22
Projected Unit
4.50%
3.90%
CPI at 2.9%
£7.70bn
N/A
102%		 31/03/23
Projected Unit
Dual rate of 0.9%
pa and 2.5% pa
above gilt yields
CPI + 1%
Linked to CPI +/-
3bps
£73.1bn
N/A
111%

66 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

25. PENSION SCHEMES (continued)

The most recent valuation of Kent’s Local Government Pension Scheme at 31 March 2022 records a surplus of £129m, equivalent to a funding level of assets to liabilities of 102%.

The Teachers’ Pension Scheme valuation at 31 March 2020 reported the scheme as having a notional deficit of £15.0 billion.

The latest Universities’ Superannuation Scheme valuation at 31 March 2023 indicated that the scheme had a surplus of £7.4 billion, equivalent to a funding level of assets to liabilities of 111%.

Teachers’ Pensions Scheme

The Teachers’ Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme. The regulations under which the TPS operates are the Teachers’ Pensions Regulations 1997, as amended. These regulations apply to teachers in schools and other educational establishments in England and Wales maintained by local authorities, to teachers in many independent and voluntary-aided schools, and to teachers and lecturers in establishments of further and higher education. Membership is automatic for full-time teachers and lecturers and from 1 January 2007, for teachers and lecturers in part-time employment following appointment or a change of contract. Teachers and lecturers are able to opt out of the TPS.

The Teachers’ Pensions Regulations require an annual account, the Teachers’ Pension Account, to be kept of receipts and expenditure (including the cost of pensions’ increases). From 1 April 2001, the Account has been credited with a real rate of return (in excess of price increases and currently set at 3.1%), which is equivalent to assuming that the balance in the account is invested in notional investments that produce that real rate of return.

Not less than every four years the Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS. The aim of the review is to specify the level of future contributions.

The contribution rate paid into the TPS is assessed in two parts. First, a standard contribution rate (SCR) is determined. This is the contribution, expressed as a percentage of the salaries of teachers and lecturers in service or entering service during the period over which the contribution rate applies, which if it were paid over the entire active service of these teachers and lecturers would broadly defray the cost of benefits payable in respect of that service. Secondly, a supplementary contribution is payable if, as a result of the actuarial investigation, it is found that accumulated liabilities of the Account for benefits to past and present teachers, are not fully covered by standard contributions to be paid in future and by the notional fund built up from past contributions. The total contribution rate payable is the sum of the SCR and the supplementary contribution rate.

Although teachers and lecturers are employed by various bodies, their retirement and other pension benefits, including annual increases payable under the Pensions (Increase) Acts, as provided for in the Superannuation Act 1972, are paid out of monies provided by Parliament. Under the unfunded TPS, teachers’ contributions on a ‘pay-as-you-go’ basis and employers’ contributions are credited to the Exchequer under arrangements governed by the above Act. The scheme is accounted for as if it is a defined contribution scheme.

67 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

25. PENSION SCHEMES (continued)

Universities Superannuation Scheme

USS is valued every three years by professionally qualified independent actuaries using the projected unit method, the rates of contribution payable being determined by the trustees on the advice of the actuaries. In the intervening years, the USS actuary reviews the progress of the USS scheme.

The contribution rate payable by Canterbury Christ Church University to USS reduced from 21.6% to 14.1% of pensionable salaries from 1 January 2024. The actuary to USS has confirmed that it is appropriate to take the pension costs in Canterbury Christ Church University’s financial statements to be equal to the actual contributions paid during the year. In particular, the current contribution rate has regard to the surplus/(deficit) disclosed, the benefit improvements introduced subsequent to the valuation and the need to spread the surplus/(deficit) in a prudent manner over the future working lifetime of current scheme members.

Because of the mutual nature of the scheme, Canterbury Christ Church University is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis and therefore, accounts for the scheme as if it were a defined contribution scheme. As a result, the amount charged to the income and expenditure account represents the contributions payable to the scheme in respect of the accounting year. The liability for future payments is included in the balance sheet as a provision.In 2025 the scheme is in surplus and there is no liability to be reported in the University’s balance sheet.

Local Government Pension Scheme

The LGPS is a funded scheme and is valued every three years by actuaries using the projected unit method, the rates of contribution payable being determined by the members of Kent County Council Superannuation Fund on the advice of the actuaries. In the intervening years, the LGPS actuary reviews the progress of the LGPS scheme.

For LGPS, the actuary has indicated that the resources of the scheme are likely, in the normal course of events, to meet the liabilities as they fall due at the level specified by the LGPS Regulations.

Under the definitions set out in FRS 102 the LGPS is a multi-employer defined benefit pension scheme. In the case of the LGPS, the actuary of the scheme has identified Canterbury Christ Church University’s share of its assets and liabilities as at 31 July 2025.

The pension scheme assets are held in a separate trustee administered fund to meet long-term pension liabilities to past and present employees. The trustees of the fund are required to act in the best interests of the funds’ beneficiaries. The appointment of the trustees of the fund is determined by the scheme’s trust documentation. The trustees are responsible for setting the investment strategy for the scheme after consultation with professional advisors.

The significant assumptions used by the actuary for FRS 102 for the LGPS at 31 July 2025 were:

Infation / Pension increase
Rate of increase in salaries
Discount rate for liabilities		 2025 2024
% pa % pa
2.85
3.35
5.80		 2.80
3.30
5.10

It is accepted there is a potential financial impact to the choice of assumptions applied. The University has considered the assumptions to be applied for the year in comparison to assumptions applied by other institutions in the sector.

68 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

25. PENSION SCHEMES (continued)

The post retirement mortality tables adopted are the S4A tables. These base tables are projected using the CMI 2024 model. The S4PA tables provide for a multiplier of 105% for both males and females. The base tables are projected with a long term rate of improvement of 1.50% p.a., a smoothing parameter of 7.0, and an initital addition parameter of 0.0% p.a. The weighting parameter for 2024 is not applicable.

The assumed life expectations from age 65 are:

Current Pensioners
Future Pensioners
Adjustment to discount rate
Present value of total obligation
Projected service cost
Adjustment to long term salary increase
Present value of total obligation
Projected service cost
Adjustment to pension increases and deferred revaluation
Present value of total obligation
Projected service cost
Adjustment to life expectancy assumptions
Present value of total obligation
Projected service cost
Sensitivity analysis
Equities
Gilts
Bonds
Property
Cash
Absolute return fund
Infrastructure
Total market value of assets
Present value of scheme liabilities
Present value of unfunded obligation
Surplus in the scheme*
The assets in the LGPS scheme for
Canterbury Christ Church University were:		 Males Males Females
21.40 years
23.00 years		 23.70 years
25.40 years
£’000 £’000 £’000
+0.1%
132,357
4,299
+0.1%
134,854
4,470
+0.1%
137,120
4,654
+1 Year
138,482
4,630		 0.0%
134,732
4,470
0.0%
134,732
4,470
0.0%
134,732
4,470
None
134,732
4,470		 -0.1%
137,173
4,647
-0.1%
134,611
4,470
-0.1%
132,409
4,292
- 1 Year
131,091
4,314
Value at 31
July 2025		 Value at 31
July 2024
£’000 £’000
112,894
10,601
27,397
15,004
4,910
9,404
8,926		 97,361
12,052
24,771
15,196
5,382
8,615
7,837
189,136 171,214
189,136
(134,732)
-
54,404		 171,214
(135,975)
(1)
35,238

*The surplus in the scheme is subject to an asset ceiling for recognition in the Statement of Financial Position of the University in 2025. The ceiling prevents the University from recognising the surplus as an asset.

69 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

25. PENSION SCHEMES(continued)
Reconciliation of the present value of the Defned Beneft Obligation
Opening Defned Beneft Obligation
Current Service Cost
Interest Cost
Change in fnancial assumptions
Change in demographic assumptions
Contributions by Members
Past Service Costs, including curtailments
Estimated Unfunded Benefts Paid
Estimated Benefts Paid (net of transfers in)
Experience loss/(gain) on defned beneft obligation
Closing Defned Beneft Obligation
Reconciliation of fair value of Fund assets
Opening Fair Value of Employer Assets
Interest on assets
Return on assets less interest
Administration expenses
Contributions by the Employer
Contributions by Members
Other Actuarial gains/(losses)
Estimated Benefts Paid including unfunded benefts
Closing Fair Value of Employer Assets		 2025 2024
£’000 £’000
135,976
5,561
6,916
( 18,002)
2,947
2,305
1,486
(1)
(3,881)
1,425		 125,390
5,518
6,446
77
( 292)
2,282
75
(1)
(2,852)
(667)
134,732 135,976
171,214
8,883
3,203
(159)
7,572
2,305
-
(3,882)		 155,508
8,152
2,043
(141)
6,223
2,282
-
(2,853)
189,136 171,214

The total return on the fund assets for the year to 31 July 2025 was a gain of £12,086,000, with interest earned of £8,883,000. The fair value of the employer assets increased by £17,922,000. Scheme assets do not include any Canterbury Christ Church University owned financial instruments or any property occupied by Canterbury Christ Church University.

Net defned beneft - surplus
Scheme assets
Scheme liabilities
Net defned asset
Current service cost including curtailments
Admin charge
Total operating charge:
Interest (income)/cost
Total loss
Remeasurement of the net assets in other comprehensive income:
Return on assets in excess of interest
Changes to demographic assumptions
Financial assumption changes
Experience gain/(loss) on defned beneft obligation
Remeasurement of the net assets		 2025 2024
£’000 £’000
189,136
(134,732)		 171,214
(135,976)
54,404 35,238
7,047
159
7,206
(1,967)		 5,593
141
5,734
(1,706)
5,239 4,028
3,203
(2,947)
18,002
(1,425)		 2,043
292
(77)
667
16,833 2,925

70 | Canterbury Christ Church University Financial Statements 2025

(continued)

Notes to the Financial Statements

26. FINANCIAL INSTRUMENTS
Consolidated
Financial Assets measured at amortised cost
Cash and cash equivalents
Trade debtors and other debtors
Financial Liabilities measured at amortised cost
Loans
Trade creditors
Other creditors
University
Financial Assets measured at amortised cost
Cash and cash equivalents
Trade debtors and other debtors
Financial Liabilities measured at amortised cost
Loans
Trade creditors
Other creditors
27. STUDENT SUPPORT FUNDS
DfE Bursaries
Balance brought forward from previous years
Funding Council grants in year
Disbursed to students		 2025 2024
£’000 £’000
60,801
118,748		 57,346
119,985
179,549 177,331
50,329
25,793
147,913		 54,041
36,477
141,024
224,035 231,542
2025 2024
£’000 £’000
60,337
118,792		 56,956
119,985
179,129 176,941
50,329
25,725
148,124		 54,041
36,477
141,209
224,178 231,727
2025 2024
£’000 £’000
(134)
1,968
(1,954)		 178
1,708
(2,020)
(120) (134)

71 | Canterbury Christ Church University Financial Statements 2025

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72 | Canterbury Christ Church University Financial Statements 2025