Oxford University Innovation Ltd’s total income for the 16 month period comes from sales turnover of £22.1m


Oxford University Innovation Ltd’s total income for the 16 month period comes from sales turnover of £22.1m and the University subvention of £4.1m. Sales turnover is made up of Licensing & Ventures licensing income, Consulting Services income, Isis Enterprise consulting income and Oxford Innovation Society membership subscriptions. The subvention of £4.1m was received for technology transfer project costs, invested in the external costs of patenting inventions made by Oxford researchers. Other operating income includes an allocation of the University’s Higher Education Innovation Fund award to support Consulting Services and the Startup Incubator.



The University subvention, invested in external patents and other project costs incurred on Oxford technology transfer projects, does not support Oxford University Innovation staff costs. Administrative expenses are the costs of running Oxford University Innovation, including our staff costs, marketing and office expenses. Oxford University Innovation distributes income from Licensing & Ventures and Consulting Services to the University and its researchers according to the University’s rules; these outgoings are both included in ‘Cost of sales’ in the accounts. Oxford University Innovation pays a portion of its taxable profit to the University under gift aid.


Performance from 2000

NB: Exceptional items in 2015 included returns from the NaturalMotion exit, and a significant royalty buyout.


Income & Expenditure

Oxford Innovation Society, Other
ISIS Enterprise
Consulting Services
Licensing and Ventures
University Subvention


Payment to University and Researchers
Administrative Expenses
Project Support



Profit & Loss Account

16 Months to 31 July Year to 31 March
2016 2015**
£ ‘000 £ ‘000
Turnover £22,193 £24,584
Cost of Sales -£16,376 -£18,955
Gross Profit £5,817 £5,629
Adminstrative Expenses -£9,832 -£6,131
Other operating income £4,735 £3,542
Share of losses in Joint Ventures -£107 -£31
Operating Profit £613 £3,009
Other interest receivable £21 £12
Profit on ordinary activities before gift aid and taxation £634 £3,021
Gift aid payable to University of Oxford -£902 -£2,481
Profit / loss on ordinary activities after gift aid donation and before taxation -£268 £540
Taxation -£21 -£36
Profit / loss on ordinary activities after gift aid donation and after taxation -£289 £504

** Amounts restated in accordance with FRS102


Balance Sheet

16 Months to 31 July 12 Months to 31 March
2016 2015**
£ ‘000 £ ‘000
Fixed Assets
Tangible Assets £330 £0
Investments £2,432 £2,224
£2,762 £2,224
Current Assets
Debtors £6,708 £3,483
Cash at bank and in hand £2,068 £5,335
£8,776 £8,818
Creditors -£7,147 -£6,663
Net Assets £4,391 £4,379
Capital & Reserves
Called up Share Capital £1750 £1750
Revaluation Reserve £1740 £1500
Profit & Loss account £901 £1129
Total Capital Employed £4,391 £4,379

Oxford University Innovation Ltd is wholly owned by the University of Oxford. Oxford University Innovation (Hong Kong) Ltd is a wholly owned subsidiary of Oxford University Innovation Ltd.

This is the first year the Group has presented its results under FRS102 the Financial reporting standard applicable in the UK and Republic of Ireland. The last financial statements prepared under the previous UK GAAP were for the period ending 31 March 2014, and the date of transition to FRS102 was therefore 1 April 2015. The Group accounts for 2016 are for a 16 month period to 31 July 2016 as part of the adoption of FRS 102 which encourages subsidiaries to prepare their accounts on the same reporting date as their parent.


Spinout company shareholdings

Shares in Oxford University spinout companies established by Oxford University Innovation Ltd are owned by the University of Oxford, and not by Oxford University Innovation Ltd. They do not therefore appear in the Oxford University Innovation Ltd accounts either as assets on the balance sheet or as income from realisations of shares or the payment of dividends from shares. The total value of the University’s shares in its spinout companies at 31 July 2016 was £81.5m.

Oxford University Innovation owns minority shareholdings in startup companies which have been supported by the Oxford University Startup Incubator, valued at £1.9m in accordance with the International Private Equity and Venture Capital Guidelines.


Oxford University Innovation distributes these sums to the University and individuals. The University in turn distributes these sums to individuals, departments, and central accounts according to its standard procedures.

The directors are responsible for the maintenance and integrity of the corporate and financial information included in the company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial information differs from legislation in other jurisdictions.

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