Finance and reporting
UCL is committed to investing in people, buildings and technology to deliver its institutional strategy and ensure long-term financial sustainability.
Annual reporting and accounts (financial statements)
UCL published its 2025 Annual Report and Accounts (ARA) on 22 December 2025, reporting an operating margin of £141m or 6.4%. This outcome highlights sustained financial resilience during a year shaped by global uncertainty and financial pressures impacting the HE sector.
Annual Report and Accounts 2025 (PDF)
This report reflects on a year of achievement, challenges and progress against our strategic goals as we continue to build on our excellence and plan for the future.
2024 UCL Annual Report (PDF)
2023 UCL Annual Report (PDF)
2022 UCL Annual Report (PDF)
2021 UCL Annual Report (PDF)
2020 UCL Annual Report (PDF)
2019 UCL Annual Report (PDF)
2018 UCL Annual Report (PDF)
2017 UCL Annual Report (PDF)
2016 UCL Annual Report (PDF)
2015 UCL Annual Report (PDF)
2014 UCL Annual Report (PDF)
2013 UCL Annual Report (PDF)
2012 UCL Annual Report (PDF)
Finance related strategies and documents
UCL Financial Strategy 2023-27
View the executive summary for our latest UCL’s Financial Strategy 2023-27 underpinning UCL Strategic Plan 2022-27.
UCL is an exempt charity under the Charities Act 2011, with the Office for Students being UCL’s principal regulator.
UCL Tax Strategy 2024/25
- UCL Tax Strategy 2025-26 (PDF)
UCL’s Investment Portfolio 2025
As at 31st July 2025:
UCL Council are responsible for the maintenance and integrity of the corporate and financial information included on UCL’s website. Find out more about UCL Investment Policy.
Legislation in the United Kingdom governing the preparation and dissemination of financial information differs from legislation in other jurisdictions.
