Annual Report 2013

Modern Statistical Methods for Astronomy With R Applications

Annual Report for the year ended 30 April 2013

Eric D. Feigelson G. Jogesh Babu

Who We Are Cambridge University Press is part of the University of Cambridge, one of the world’s leading research institutions.

It furthers the University's mission by disseminating knowledge in the pursuit of education, learning and research at the highest international levels of excellence.

The Press’s publishing comprises some 50,000 academic and professional titles, over 300 research journals, schoollevel education, English Language Teaching and bible publishing. This output – from authors based in over 100 countries – is available globally: the Press has over 50 offices around the world.

The Press places great emphasis on being a part of the communities it serves: researchers, teachers and learners at every level of education.

Cambridge University Press Annual Report 2013 Contents

Contents Chair’s Introduction

2

Chief Executive’s Overview

3

Academic Publishing

6

Educational Publishing

10

English Language Teaching

12

The Press in the Community

16

Abstract of the Financial Statements

18

Appendix

21

Cambridge on the internet View this report online cambridge.org/annualreport For more information about Cambridge University Press cambridge.org/aboutus

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Cambridge University Press Annual Report 2013 Chair’s Introduction

Chair’s Introduction When I became Chair of Syndics in November 2012, I was aware that I took on an organisation rich in history and tradition but facing many challenges in a fiercely competitive and fast-changing world increasingly dominated by digital information. In getting to know various parts of the Press more closely since then, I have been enthused to discover an operation keenly geared up for change, with impressive leadership, skilled and dedicated staff, and an appetite for new models standing alongside a commitment to the traditional Cambridge values of quality and the highest intellectual standards.

We will continue to focus our investment in selected areas across the whole portfolio of our high-calibre offerings, and one of the pleasures of being involved in the governance of the Press is to witness the variety of first-rate initiatives emerging from our Academic, English Language Teaching and Education groups. These are all absolutely in tune with our mission to disseminate knowledge in the pursuit of education, learning and research at the highest international levels of excellence. It is natural that our investment strategy should also focus on technology – on the systems required to deliver new types of product and to capture the financial information that allows us to manage them efficiently – and I salute those colleagues whose hard work has made a success of key technical projects in the course of the year.

2012–13 is a year that will also be remembered for the outsourcing of our remaining on-site printing, bringing to an end a continuous line of book manufacturing under the direct control of the University which had run since 1583. It is fitting to pay tribute to the many generations of Cambridge printers who served the Press so very well over 430 years.

We will carry on printing books for a long time to come, albeit now via third parties, and although the digital revolution proceeds apace there is no sign of the death of the conventional book. Far from it – for as well as e-books, digital technology has brought us the ability to produce physical books more flexibly in ever shorter print-runs, closer to market.

In January 2013 we announced a major re-structure of our governing body the Press Syndicate and its committees. The Press is an integral part of the University of Cambridge and we value our close relationship with the University at various levels, from governance, through our productive collaborations with Cambridge Assessment, to the many fruitful connections that we have with different faculties and departments.

I want to thank Professor Tony Minson who, as my predecessor in the Chair, oversaw the succession to a new Chief Executive and the establishment of a fresh senior management team. Tony’s contribution to the Syndicate in various capacities has been immense. Likewise I am grateful to Professor John Morrill, who stood down after two decades of service at the end of 2012 and whose prowess as a historian and wise contributions to the Finance Committee have been invaluable. We welcome to the Syndicate Dr Emily Gowers from the Faculty of Classics and Dr Sue Swaffield from the Faculty of Education and are already enjoying working with them.

Finally I express my gratitude to Stephen Bourne who retired in April 2013. Last year’s Report noted Stephen’s ten-year tenure as Chief Executive, but I want to acknowledge his sixteen years with the Press, initially as Development Director and latterly as President. He has truly been a force for the good.

I am confident that the world’s oldest publisher embraces the digital age with a robust strategy and a first-class team of people around the world to deliver it.

Sir David Bell Chair of the Press Syndicate

Cambridge University Press Annual Report 2013 Chief Executive’s Overview

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Chief Executive’s Overview This year, the Press’s growth has accelerated and its programme of transformation continued. We have demonstrated our continued commitment to quality and the advancement of learning, knowledge and research, and benefitted from strong partnerships across our University.

That has been achieved against a background of huge changes in our industry. The shift to digital is accelerating; more material than ever before is available free of charge to end users; and technology companies large and small are challenging the business models of the last 500 years. The world economy is still in its most protracted slowdown for decades. All that means significant opportunities and challenges for all publishers.

The starting point – as it has been for four centuries – remains the quality of our products. We continue to deliver consistently high quality in our academic publishing, exemplified by titles like Nobel Laureate Stephen Weinberg’s Lectures on Quantum Mechanics, The Tallinn Manual on the International Law relating to Cyber Warfare, The Cambridge History of Religions of the Ancient World and The Cambridge Edition of the Poems of Rudyard Kipling, including more than 50 previously unpublished Total sales poems. In journals, we continued our proud long-

£261.7m

running record of retaining all our titles published on behalf of learned societies, and gained several new ones.

We also launched a number of new journals, including High Power Laser Science and Engineering in partnership Operating surplus with the Chinese Academy of Sciences, with our total number of journals rising from 307 to 329.

In the English Language Teaching group we published major new content in every area, including new upper levels for our best-selling adult course Touchstone Blended Learning and Super Minds, a Sales growth new course for schools, alongside new editions of our hugely popular American English course Interchange 2007 and our market leading Grammar in Use. We have seen 2008 major adaptations in Switzerland and in Kazakhstan.

Classroom Management Techniques by Jim Scrivener 2009 was awarded ‘Overall Winner’ of the 2012 HRH The 2010 Duke of Edinburgh English Language Book Awards, run 2011

by The English-Speaking Union. The many awards the 2012 Press has won across every publishing area are listed at www.cambridge.org/awards.

2013 It has been a terrific year for our Education 0 50 100 publishing. The Government in South Africa approved a large number of textbooks for its new curriculum, including our first ever texts in South African languages other than English. The gradual introduction of the Australian National Curriculum saw rapid growth, particularly in mathematics. Python Basics Coding Club, our introduction to computer coding for primary schools, was highly successful. In India, the mathematics course I Did It sold its millionth copy.

In all three publishing groups – Academic, English Language Teaching and Education – the Press’s global reach is becoming ever more important to our success. The Press makes nearly 90 per cent of its sales outside the UK, and as growth slows in Western European and North American markets, opportunities in Latin America, the Middle East, Africa and Asia are changing the centre of gravity of both our sales and publishing.

£8.2m

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The Explore Shakespeare apps were shortlisted for the FutureBook awards.

Cambridge University Press Annual Report 2013 Chief Executive’s Overview

As examples, we have increased our editorial output from India and China linked to rapidly growing sales in both countries.

Our focus is on areas where the Press can bring distinctive strengths. During the year, three particular priorities were: digital; links across the University of Cambridge; and operational change.

Digital developments are central to all our publishing groups. We have seen significant upgrades to our Cambridge Books Online, Cambridge Journals Online platforms and Touchstone Blended Learning digital platforms. There have been major improvements to our websites. In Education, notable digital launches include two Explore Shakespeare apps and an iTextbook for the Cambridge Latin Course. In Academic, Materials360ÂŽ, a portal showing news and information, was a well-received development for materials scientists. In English Language Teaching, the Phrasal Verb Machine app, launched during the year, has been downloaded 400,000 times.

Our joint working with other parts of the University of Cambridge has grown further.

That was shown by a host of examples including: strong growth at the Cambridge English Exams Unit, run jointly between the Press and Cambridge Assessment; joint education reform projects in Kazakhstan and Mongolia with Cambridge Assessment and the Cambridge Faculty of Education; joint development of the Cambridge Computing Massive Open Online Courses for schools with Cambridge Assessment and the Cambridge Computer Labs; and close working with the Department of Psychiatry on a number of initiatives in psychopharmacology with Stephen Stahl, one of our leading medical authors.

Book distribution is becoming increasingly electronic, and digital printing makes it ever easier to print closer to customers and in shorter runs, with major implications for our distribution and in-house printing. As a result, our in-house printing department was no longer viable and this year saw the closure of our UK printing operation, sadly bringing an end to 430 years of printing by the Press. For similar reasons, during the year we outsourced our US distribution and sold our West Nyack warehouse. My sincere thanks go to all those who have worked in our printing and distribution operations, particularly given the challenges of the last year.

All publishers face a fast-changing and uncertain world, and greater responsiveness is essential to remain relevant to our customers and end users. We have streamlined and simplified our governance structures, with a new Operating Board to oversee all day-today governance. To deepen our understanding of end users, our marketing and research teams have been strengthened. Collaboration and communication across the Press globally are other areas where improvements have been seen during the year.

Cambridge University Press Annual Report 2013 Chief Executive’s Overview

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As a global organisation, we work in highly competitive markets across the world, but our performance should never be achieved at the expense of high ethical standards.

Our conduct, and our standards of integrity, should at all times reflect our public aims, our proud tradition and the values of the great University of which we are a part. As such, we launched a new Code of Ethics around the world, something that is integral to our mission to advance knowledge, learning and research.

We have improved our financial management, information and controls, introducing new processes as part of a major programme to improve finance and fulfilment systems globally over the course of the next few years. The first phase was implemented in January, when new finance and procurement systems went live for our US and UK operations.

In the financial year to 30 April 2013, Cambridge University Press’s sales were £261.7m, up from £245.0m the previous year. Revenue growth was seven per cent – a really creditable performance in challenging markets. Our operating surplus before tax was £8.2m, well up on £2.0m in 2012.

Our people have shown their commitment to our purpose, not only through our publishing, but via a whole range of community engagement activities all over the world.

More than 400 colleagues gave over 1,700 hours of volunteering time to community projects, which help create more opportunities for young people, including partnering with schools, participating in reading schemes, running library workshops and giving careers talks. From our partnership with the CIDA Empowerment Fund in South Africa to our commitment to inspire school students about the world of work in Cambridge, from our support for children with little or no literacy in India to our collaboration to the Bookstep Program in Brazil, Press people are pooling their skills to find creative responses to their local community needs.

In closing, I would like to pay tribute to Dr Andrew Brown, who retired from the Press after 37 years here, ten years of which were as Managing Director of our Academic publishing. His commitment to the highest standards of scholarship, combined with shrewdness, humour and a deep passion for what we do, exemplify for me the Press at its best.

Peter Phillips Chief Executive

The Touchstone Blended Learning digital platform received a significant upgrade

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Cambridge University Press Annual Report 2013 Academic Publishing

Academic Publishing Cambridge University Press’s Academic publishing delivers a core component of the University of Cambridge’s mission, advancing the worldwide dissemination of research and learning at the highest scholarly levels.

Its output is available in multiple electronic, print and hybrid formats. It operates within a global network of relationships with authors, academic institutions and learned societies. Quality assurance of the editorial programme, constantly validated by the Press Syndicate, remains among the most robust of any scholarly publisher anywhere in the world. The financial performance of academic publishing remains important to the overall financial health of the University Press.

2012–13 was a year of economic and technical challenge for the academic team worldwide, as some patterns of demand shifted dramatically (notably in North America where the appeal of printed books, both to libraries and to individual scholars and graduate students, is in decline in many subject areas). All academic publishers now view a landscape vastly different from that which they encountered only a decade ago, but the pace of change, and particularly the impact of digital resources and changing funding patterns (including Open Access), continues to vary hugely, by subject, by region and by level both of and within institutions. To respond to this changing environment, the structure of academic publishing at Cambridge University Press was reorganised during 2012–13, with a new global academic board, half of whom are based in Cambridge, the other half in other Press publishing centres around the world.

Cambridge University Press Annual Report 2013 Academic Publishing

The Press’s already outstanding Journals list expanded in 2012–13 by 22 titles, and new publishing agreements were signed with major learned societies including the American Philosophical Association. Academic book output rose in 2012–13, to 1,530 new titles compared to 1,498 in 2011–12. Most new publishing is now routinely available simultaneously in print, online and in other digital formats.

Humanities and Social Sciences As in 2012–13, global academic funding flowed away from the humanities and social sciences, although some markets (notably Europe and Japan) displayed resilience: sociology was the strongest-growing single subject, and music and education also performed well. Major publications included a number of truly significant works of scholarly reference, not least The Cambridge Edition of the Works of Ben Jonson (in seven volumes), The Cambridge Edition of the Poems of Rudyard Kipling (in three volumes), The Cambridge History of the Religions of the Ancient World, The Encyclopedia of Transitional Justice (in three volumes) and the release online in collaboration with the Royal Economic Society of The Collected Writings of John Maynard Keynes (in thirty volumes).

The Collected Writings of Other major scholarly works published in 2012–13 John Maynard Keynes included The Tallinn Manual on the International Law Arguably the most influential social scientist of Applicable to Cyberwarfare and Freedom, the latter the twentieth century, John Maynard Keynes edited in two volumes by Quentin Skinner and Martin (1883–1946) has had a profound impact on van Gelderen. Michael Maschler et al on Game Theory, macroeconomic theory and policy across the Michael Santoro and Ronald Strauss on Wall Street Values, world. In November 2012 the Press was proud and Michael Alvarez et al on Evaluating Elections were to issue The Collected Writings of John Maynard especially important social scientific contributions, and Keynes on behalf of The Royal Economic Society, at the textbook level Kaye Price on Aboriginal and Torres making all thirty volumes available to readers in Strait Islander Education has been an acclaimed and highly paperback and searchable electronic format for successful publication from the Melbourne office. Giorgio the first time. A partnership between The Royal Riello on Cotton and John Thornton’s Cultural History of Economic Society and University Publishing the Atlantic World 1250–1820 were notable additions to Online (the platform developed by the Press the Cambridge history list, which remains the largest of to host e-books from other world-renowned the Cambridge academic publishing programmes. publishing programmes) enabled delivery of The Collected Writings electronically, offering a new dimension of access and usability to readers around the world. The volumes, which include The General Theory of Employment, Interest and Money, Essays in Persuasion, Essays in Biography, and Keynes’s reflections on the Versailles Peace Conference, have been welcomed in their new guise, bringing Keynes’s work to a new, global generation of economists and social scientists of very divergent backgrounds.

South Asian institutions, in particular, have been very receptive to this new edition, something which would – given his own intellectual interests – have greatly pleased Keynes himself.

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Cambridge University Press Annual Report 2013 Academic Publishing

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Among the new journals taken on or launched in 2012–13, Government and Opposition, the Journal of Linguistic Geography, and the journals of the African Studies Association stand out: a new partnership with the KoGuan Law School in Shanghai, with whom we shall publish the Asian Journal of Law and Society, should help cement our very strong publishing position within the field of socio-legal studies.

Science, Technology and Medicine The science disciplines continue to migrate rapidly towards digital dissemination, and Open Access publishing models continue to make significant headway in certain scientific subjects. The traditional printed book, both as an object of consumption and as an object of composition, is declining more within institutions of scientific research than in any other sector, particularly in North America. The alternatives remain unclear, however, and the Press therefore offers both traditional and, increasingly, new models, finding ever more receptive markets for science in Asia-Pacific and Latin America, especially in its online forms (Cambridge Journals Online and Cambridge Books Online). At the subject level, 2012–13 showed (once again) the considerable strength of our lists in earth science and climate change, and physics also performed well.

Major scientific publications in 2012–13 included Nobel laureate Steven Weinberg on Quantum Mechanics, Eric Feigelson and Joshua Babu on Modern Statistical Methods for Astronomy, the 5th edition of R.F. Chapman’s Insects: Structure and Function edited by Stephen Simpson and Angela Douglas, and the 6th edition of Spencer’s Pathology of the Lung, edited in two volumes with accompanying DVDs by Philip Hasleton and Douglas Flieder. A very significant textbook of 2012–13 was Earth Materials: Introduction to Mineralogy and Petrology by Cornelis Klein and Anthony Philpotts.

Important scientific journals taken or launched in 2012–13 included two journals of the Association of Symbolic Logic and a new Open Access journal launched in association with the Chinese Academy of Sciences, High Power Laser Science and Engineering. We were also delighted to renew our publishing agreement with The Nutrition Society, and to win the tender to publish the journal Infection Control and Hospital Epidemiology for The Society of Healthcare Epidemiology of America.

“Feigelson and Babu have written a text that surely

vast range of statistical challenges, ranging from

must be considered as the standard text on the

reducing data from megadatasets to characterizing

subject. The book presents astronomers with an

an amazing variety of variable celestial objects or

up-to-date overview of the foremost methods

testing astrophysical theory. Linking astronomy

being used in astrostatistical analysis, providing

to the world of modern statistics, this volume

numerous examples, as well as relevant R code, for

is a unique resource, introducing astronomers

how these methods can be used in their research.

to advanced statistics through ready-to-use

The text is useful to astronomers who are new to

code in the public-domain R statistical software

astrostatistics, as well as to seasoned researchers. ”

environment.

JOSEPH M. HILBE, Chair, ISI International

Academic titles published by the Press in 2013 The book presents fundamental results of

probability theory and statistical inference, before

exploring several fields of applied statistics, such as data smoothing, regression, multivariate analysis and classification, treatment of nondetections, time series analysis, and spatial point processes. It applies the methods discussed to contemporary astronomical research datasets using the R statistical software, making it an invaluable resource for graduate students and researchers facing complex data analysis tasks.

A link to the authors’ website for this book can be found at www.cambridge.org/msma. Material

Astrostatistics Network, Arizona State University / Jet Propulsion Laboratory

“This book covers in a single volume both the basic statistical material and more specialized material (clustering, classification, data mining, non-detections, time series analysis, and spatial point processes) that is essential for modern astronomers. Their decision to use R to illustrate the ideas, methods, and tools, and to apply them to real astronomical data sets, will significantly enhance the value of the volume.”

available on their website includes datasets, R code

DAVID HAND, Professor of Statistics,

and errata.

Imperial College London

Eric D. Feigelson is a Professor in the Department

“While many astrophysicists have deep training

of Astronomy and Astrophysics at Pennsylvania

in statistical theory and great practical abilities,

State University. He is a leading observational

others have no or only elementary training in

astronomer and has worked with statisticians

these areas, propagate old mistakes, and carry out

for 25 years to bring advanced methodology to

suboptimal data analysis. This volume addresses

problems in astronomical research.

this problem and will likely make a significant contribution. Serious readers of this text will

G. Jogesh Babu is Professor of Statistics and Director of the Center for Astrostatistics at Pennsylvania State University. He has made extensive contributions to probabilistic number theory, resampling methods, nonparametric

be well equipped to learn the most advanced techniques on their own.”

JEFFREY D. SCARGLE, Space Science and Astrobiology Division, NASA Ames Research Center

methods, asymptotic theory, and applications to biomedical research, genetics, astronomy, and astrophysics.

Cover illustration (main): colorful Jewel Box cluster, NGC 4755. Credit: ESO/Y. Beletsky.

FEIGELSON: MODERN STATISTICAL METHODS FROM ASTRONOMY PPC CMYBLK

Feigelson and Babu Modern Statistical Methods for Astronomy

1,530 Modern astronomical research is beset with a

Modern Statistical Methods for Astronomy With R Applications

Eric D. Feigelson G. Jogesh Babu

Cambridge University Press Annual Report 2013 Academic Publishing

Sales, Services and Impacts During 2012–13 Cambridge Journals Online (CJO), Cambridge Books Online (CBO) and University Publishing Online (UPO) all continued to gain market traction, and during the year some very notable sales agreements were reached for parts of the Cambridge digital archive (of both journals and books), notably in Mexico, China, Singapore, Saudi Arabia and Russia. A major re-architecture of both CJO and CBO is now in train, delivering much greater cross-functionality and an improved user and institutional experience. CJO now has a multilingual interface and we can now facilitate log-in via social media and sharing bars, as well as improved member services for our partner societies.

Over two-thirds of Cambridge’s journals are now indexed by Thomson Reuters, while over half (177) have an Impact Factor. Behavioral and Brain Sciences retained its top position over all of the journals in the Social Sciences Citation Index, and American Political Science Review was the highest ranked journal in Political Science.

A further 15 journals sit within the top five of their categories, including Journal of Global History, Nutrition Research Reviews, Quarterly Reviews of Biophysics, Development and Psychopathology, and Bilingualism: Language and Cognition. Fourteen of Cambridge’s journals received their first Impact Factor, including Epidemiology and Psychiatric Sciences, European Political Science Review, and MRS Communications.

Materials360 Online Materials360 Online is a news resource developed with Materials Research Society (MRS), designed specifically for the materials research community. It gives readers access to the latest and most important materials news in one place, so readers no longer have to trawl the web, and includes information not available elsewhere.

The service enables editorial staff to provide original news articles, videos and podcasts – all with the unique perspective of an organisation devoted to the advancement of materials science. It also brings together materials news from other publications and websites. A 'Hot Topics' cloud offers search by keyword, and on Twitter, @Materials_MRS allows followers to share contributions.

Materials360 Online also connects to all MRS publications on Cambridge Journals Online (CJO), updating readers on highlighted, most recent, and most viewed articles from MRS Communications, Journal of Materials Research (JMR), MRS Bulletin, and the MRS Online Proceedings Library (OPL).

MRS is the first society to implement this new offering from Cambridge University Press, which has developed tailored digital functionality for its portfolio of over 300 journals and its learned society partners. The Cambridge platform vastly improves the discoverability of materials science information – easily accessed via computers and mobile devices.

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Cambridge University Press Annual Report 2013 Educational Publishing

Educational Publishing Changes in the external education environment have become a familiar theme in daily discussions, annual reports and trend analyses. The past year was no exception. More than ever before, the speed and intensity of changes to current business models, market and competitor landscapes, consumer behaviour and economic uncertainty, have had an impact.

Despite these challenges, the Education group enjoyed very substantial growth compared with the previous year, especially from South Africa, India, the Middle East, China, Malaysia and Indonesia.

Local Curricula There have been further delays in completing the implementation of the Australian National Curriculum. None the less, Cambridge is now the leading provider for maths content, with the biggest market share in the states that have switched to the new curriculum.

By extending the product range for CBSE and ICSE schools in India, the Press managed to increase its share in this very competitive and rapidly growing market. I Did It, the popular maths series sold its millionth copy this year. Further highlights included the launch of the textbooks as downloadable apps and the publishing of a school series for Pakistan, the first entry into this market.

In South Africa, the second phase of the curriculum reform was implemented and the majority of the material developed for this purpose was approved. As a result, it has delivered unprecedented growth and increased market share, of which most notable

1,000,000 Copies of I Did It sold to date

Cambridge University Press Annual Report 2013 Educational Publishing

are the Sciences and African Languages. The business made its first foray into the digital world with all the local curriculum titles available via new distribution channels.

There was further growth in other markets, especially in Southern and West Africa, most notably in Namibia and Cameroon.

Despite the regulatory and policy changes and uncertainties, the UK market proved to be resilient where sales held up well.

International Education The publication of the lower secondary Checkpoint 7 – 9 Science and Maths expanded the current breadth of product for the Cambridge International Examinations market. Editorial highlights included the launch of the Cambridge IGCSE and IB Diploma e-books and the success of the Coding Club publications for computing which reached bestseller lists in the trade. Drawing on editorial and publishing expertise and strategic partnerships within the University, the Press had pleasing, important successes with education reform projects in emerging markets like Kazakhstan and Mongolia.

Teacher Professional Development and Support Services Given the amount of education reform, rapid increase in classroom-appropriate technology and a vast array of free internet resource, teachers need different types of support. Cambridge expanded its support for teachers through various initiatives in a number of countries.

A unique feature, My Favourite Teacher, launched on Facebook in India and it attracts thousands of followers.

Workshops for Motivation for Teachers were added to the product training and professional development focus with great success.

FUNdamentals FUNdamentals, an Australian online learning resource for the first three years of school, launched to expand the HOTmaths offering from Kindergarten to Year 10 of school. FUNdamentals aims to create a resource bank of digital material that is engaging and motivating, with rigorous pedagogical standards. It is designed to be easily accessible to learners with minimal literacy to develop mathematical concepts and practice opportunities.

The content is structured as a tool box rather than as a linear programme, providing greater flexibility to cater for different abilities and personalised learning.

Cambridge’s learning and teacher materials are used in an ever increasing number of schools in 160 countries around the world, furthering the mission of the Press and the University.

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Cambridge University Press Annual Report 2013 English Language Teaching

English Language Teaching The Press is gaining market share around the world in the provision of resources to support learning and teaching English as a foreign language. This success is derived from an approach to publishing and marketing that is aligned to the fundamental changes currently affecting the English Language Teaching (ELT) industry. English is increasingly an essential skill for economic, professional and academic development. Governments, businesses and individuals around the world are investing in English teaching and learning to support progress in today’s globalised community and economy. There is a growing demand for international standards of assessment, flexible use of digital to support personalised learning and learning solutions for institutions, teachers and students.

In this changing environment Cambridge offers distinctive products drawn from rigorous research in language acquisition, pedagogy and assessment, together with online technology, tried and tested by major institutions around the world.

Cambridge University Press Annual Report 2013 English Language Teaching

Cambridge English The Cambridge English initiative is providing a range of products and services to support Cambridge English Language Assessment qualifications. Cambridge English is actively engaged in the provision of solutions that meet the requirements of ministries of education for benchmarking, curriculum design, teacher development, learning materials and accreditation.

One aspect of Cambridge English is Cambridge Examinations Publishing. Revised ‘official’ titles were produced this year for Objective Key, Objective Super Minds Proficiency and Business Benchmark and new titles were This seven-level primary course was published launched, including Complete Key for Schools, Compact at the start of 2012 and after a very strong First, Compact First for Schools and Compact Preliminary start looks set to follow the huge success of for Schools under the joint logos of Cambridge our flagship schools titles Kid’s Box and English University Press and Cambridge English Language in Mind. It is clearly differentiated from Kid’s Assessment. These titles exceeded sales expectations Box, due to a faster-paced syllabus and denser and they now provide a strong platform for further content, making it suitable for classes with investment in a range of innovative products that will five or more hours per week. The course is address the demand for customisable skills and test visually striking with a rich array of components materials. In addition, Complete IELTS, IELTS 9 practice including the interactive DVD-ROMs. So far, it test and YLE 8 practice tests were published. The Trainer has performed particularly well in Mexico, Spain, series also benefitted from the publication of Cambridge Turkey and China.

English: Advanced Trainer and First for Schools Trainer.

The author team is Herbert Puchta, Günter Gerngross and Peter Lewis-Jones. In common Schools Publishing with English in Mind and other Puchta titles, a The market for school-age learners continues to expand, strong focus on learner psychology helps set offering interesting publishing opportunities. This year Super Minds apart from its competitors. we have had a successful performance across Primary Cognitive development is given close and Secondary publishing with the launch of new titles attention through the development of cognitive such as Super Minds, and continued growth of our tools and skills, reflected by ‘Think’ instructions flagship courses Kid’s Box and English in Mind. The throughout the book. All primary courses use launch of Next Generation for the upper-secondary stories, but in Super Minds they take on special segment in Spain is an example of publishing designed significance with child protagonists using to meet the local needs of learners. We are delighted their superpowers to illustrate specific values to have successfully adapted resources for ministry to learners such as perseverance or helping requirements, working in close collaboration with others. Cross-curricular sections provide a bridge local partners or advisers, for example in Kazakhstan, between the world of school and the world Switzerland and Brazil. In French-speaking Switzerland beyond it. the publication of More! has brought forward the teaching of English into upper primary, benefitting upwards of 20,000 children. Similarly, in Kazakhstan a ministry-approved customised programme comprising Primary Colours, Messages and English in Mind provides the first comprehensive structured language scheme in the state sector, serving the needs of one million students.

Adult Publishing The highlight of the year in adult publishing was the publication of Interchange Fourth Edition, a thoroughly revised and updated edition of the world’s best-selling American English course. The addition of Online Workbooks, iPad apps and Presentation Plus classroom software allows teachers and students to experience the tried-and-tested Interchange pedagogy using technology designed specifically for the language learner.

Grammar and Beyond and its companion online course Writing Skills Interactive helped many customers in the United States and Canada with its user-friendly, corpus-informed approach, while the second edition of Ventures, a course for adult education students in the

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Cambridge University Press Annual Report 2013 English Language Teaching

United States, was launched with new materials to help students actively build career and educational pathways for themselves.

It was a good year for English for Academic Purposes (EAP) materials with the launch of a corpus-informed EAP series, Cambridge Academic English, featuring video lectures from the University of Cambridge. Our offering for EAP customers was further boosted by the publication of second editions of perennial favourites Academic Encounters, Making Connections and Discovering Fiction.

Other new publishing ventures included Murphy’s Advanced Grammar in Use 4th Edition, Needs Analysis for Language Course Design and Business Advantage, Upper Intermediate and Advanced. Several new applied linguistics titles were published, including Cambridge English Exams –The First Hundred Years, which tied in with Cambridge English Language Assessment’s Centenary this year. In Methodology, new courses were added to Cambridge English Teacher including Teaching Primary Learners Communicatively, and a new Handbook, Language Learning with Technology, was published.

Cambridge English Teacher, offering professional development and opportunities to interact with others in the field, is gaining market recognition, aided by new courses, new subscription models, e-commerce improvements, additional free content and webinars led by world-renowned authors.

Our Phrasal Verbs Machine app, designed to help non-native English speakers use phrasal verbs to sound more natural in their writing and speaking, was launched this year and was downloaded 400,000 times.

The award-winning Classroom Management Techniques by Jim Scrivener was published. Aimed at the English Language Teaching classroom, it presents techniques for anticipating and avoiding problems in the classroom, allowing more time to be devoted to useful, meaningful activities.

In response to customer demand for a six-level course, the Touchstone series was extended with the addition of Viewpoint, two new upper levels. Touchstone Blended Learning, the only fully flexible blended learning course for English Language Teaching continued to lead the market with new adoptions around the world.

Cambridge University Press Annual Report 2013 English Language Teaching

Complete series The Complete series was launched in 2008 with the publication of Complete First Certificate.

Since then it has continued to grow; now offering a full suite of exam preparation courses for Cambridge English exams, including threelevels of Complete IELTS. January 2013 saw the publication of Complete Key for Schools, which is the first title in this series preparing students for the ‘for Schools’ exam. In 2012–13 the series continues to be globally successful, with Spain, Italy, UK, Mexico and Brazil as its top markets.

The Complete formula provides an integrated approach, combining detailed examtask preparation with topic-based language; a proven winner in exam markets worldwide. Each course includes exam tips, advice on how to tackle each part of each exam paper, a student’s CD-ROM with a rich bank of resources, access to at least one full practice test and regular learnertraining exercises drawn from our exclusive insights into real exam candidates’ answer data in the Cambridge Learner Corpus.

The 2012–13 performance continues to drive successful publishing. A fully interactive iPad-optimised edition of Complete IELTS Bands 4–5 was launched in August 2013, setting a new standard in the ELT industry. We are now looking forward to the publication of second editions of Complete First, Complete Advanced, as well as a brand new Complete First for Schools to prepare students for the updated exam in 2015. We anticipate the investment in Complete will help to support its continued success.

Jim Scrivener

Cambridge Handbooks for Language Teachers Series Editor Scott Thornbury

Classroom Management Techniques

Classroom Management Techniques Jim Scrivener

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Cambridge University Press Annual Report 2013 The Press in the Community

The Press in the Community The Press fulfils its mission to serve communities of learners, educators and researchers, not only through its publishing output, but also through its people. During this period, more than 400 colleagues gave over 1,700 hours of volunteering time to schools, crèches and orphanages; libraries and reading schemes; environmental projects and charities; and homeless shelters and hospitals.

Cambridge’s commitment to the charitable sector continues in the form of corporate support, colleague fundraising activities and payroll giving; over 85,000 books were given to educational causes.

Below right: 5,000 children have benefitted from Make a Difference since the Press joined.

Below left: Colleagues planted 12 trees around the Cambridge site on World Environmental day.

Press Community Partnerships The Press celebrated its fourth year of partnership with CIDA Empowerment Fund (CEF), in South Africa, whose objective is to deliver quality education to economically and socially disadvantaged black South Africans. The Press's South African office gives 25.1 per cent of its profits to CIDA, which goes towards CIDA students attaining business degrees.

In Cambridge we have created more opportunities for young people by increasing the number of apprenticeships we offer and by reaching more ‘Business Class’ partner school students. ‘Business Class’ is a Business in the Community initiative, teaming companies with local schools to inspire them about the world of work, in our case with a focus on publishing. Over 80 young people participated in careers events, workshops, work experience and an open day.

In partnership with the University of Cambridge, the Press supported bursaries at the Institute of Continuing Education, awarded to individuals who teach in a UK state school or state-funded further education institution. Fifty-seven teachers benefitted from Press bursaries, and for over half the recipients this made a clear difference between taking the course and not taking it. We also partnered with three Fitzwilliam Museum schemes: SOURCE, which provides school students with gallery tours, professional advice and the

85,000 books donated to good causes

Cambridge University Press Annual Report 2013 The Press in the Community

17

opportunity to create art; Fitz Families, a drop-in offer enabling families to take part in drawing activities; and transportation for community groups from London. We continue to support the Science Festival and the Festival of Ideas, by sponsoring Press authors to give talks and by encouraging colleagues to volunteer as stewards.

The Press in India has been partnering with Make a Difference (MAD) since 2010 to bring English learning materials to children living in orphanages and street shelters.

Cambridge supplies books at close to cost price for an India reprint and MAD now uses Cambridge India’s title First Steps in English, as well as early levels of Cambridge English for Schools. Press author Andrew Littlejohn is working with MAD and Cambridge India to create an introductory level to Cambridge English for Schools, to support children with little or no literacy in their own language, and no literacy in English.

Fundraising and Donations Colleagues in Africa joined millions of South Africans in celebrating Mandela Day by fundraising for, and preparing food for, Cape Town’s shelters, crèches and orphanages.

Other donations to local schools included Christmas gifts, carpets, furniture and scarves.

Fifty-six organisations were supported through book donations to the Bookstep Program in Brazil, which has been providing educational opportunities to underresourced students since 2002. Four tons of food were given to 13 charities, following donations from attendees at ’Cambridge Days’ events.

In Thailand, colleagues visited Pakkred Babies’ Home, an orphanage on the outskirts of Bangkok. They donated utilities worth around THB 20,000, sponsored lunch for around 350 children and donated 100 Cambridge Bright Sparks story books to their resource centre.

We welcomed our new UK Charity of the Year, Blue Smile, which provides counselling and therapy for vulnerable and disadvantaged pupils in schools between the ages of 3 and 13. The annual Bridge the Gap charity walk through Cambridge saw 179 Press colleagues taking part to raise money for the Arthur Rank Hospice and Press Relief.

Environment Achievements at our main Cambridge sites included:

27%

reduction in electricity use (excludes reductions resulting from the closure of Printing)

6%

drop in water consumption

41%

reduction in gas and oil use

89%

of all waste was recycled

9%

reduction in carbon emissions

Press volunteers were awarded a Wildlife Gardening at Work Award by the Wildlife Trust for the second consecutive year

• On World Environment Day, 12 trees (one per department) were planted around the Cambridge site • Sign-up to the Liftshare scheme reached 80 colleagues

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Cambridge University Press Annual Report 2013 Abstract of the Financial Statements

Abstract of the Financial Statements The Members of the Press Syndicate are pleased to present the following abstract of the Financial Statements of the Press for the year ended 30 April 2013.

The Press Syndicate Members of the Press Syndicate who served during the twelve months ended 30 April 2013 and up until the date of approval of these financial abstracts, unless otherwise stated, were as follows: Professor Tony Minson, Chair to 30 November 2012 Sir David Bell, Chair from 30 November 2012 Dr Toke Aidt Dr Richard Barker, resigned 1 October 2012 Dr Jean Chothia Professor Cathie Clarke Professor Tim Cox Dr Emily Gowers, appointed 1 January 2013 Dr Tim Harper Professor David Ibbetson Professor Frank Kelly, CBE Dr Joan Lasenby Professor David McKitterick Dr Colleen McLaughlin, resigned 1 October 2012 Professor John Morrill, resigned 31 December 2012 Mr Andrew Reid, University Director of Finance Dr Nigel Richardson Professor David Runciman Dr Sue Swaffield, appointed 1 October 2012 Mr Stan Webster, OBE Professor Sarah Worthington, appointed 1 October 2012

The Academic Publishing Committee and the ELT & Education Publishing Committee replaced the former (single) Publishing Committee on 1 January 2013. In addition, there is an Audit Committee and a Remuneration Committee. Members of the Syndicate are represented on each of these committees, together with management and co-optees. The membership and function of these various committees are set out below:

Academic Publishing Committee The Academic Publishing Committee approves every Academic title (books and journals). Members who served from 1 January 2013 and up until the date of approval of these Financial Statements, unless otherwise stated, were as follows: Professor David McKitterick* (Chair), Syndic Dr Toke Aidt*, Syndic Dr Jean Chothia*, Syndic Professor Cathie Clarke*, Syndic Professor Tim Cox*, Syndic Mr Richard Fisher*, Executive Dr Emily Gowers, Syndic Dr Tim Harper*, Syndic Professor David Ibbetson*, Syndic Professor Frank Kelly, CBE*, Syndic Dr Joan Lasenby*, Syndic Mr Peter Phillips*, Executive Mr Simon Ross*, Executive Professor David Runciman*, Syndic Mr Kevin Taylor* (Secretary), Executive

The Secretary of the Press Syndicate is Mr Peter Phillips, Chief Executive and University Printer of Cambridge University Press.

*Member of the former Publishing Committee, chaired by Professor David McKitterick and active until 1 January 2013, at which time its functions were assumed by the two new subject-specific committees.

Operating Board

ELT & Education Publishing Committee

The Operating Board is the body that exercises general oversight of the Press’s operations on behalf of the Syndicate, and approves key decisions and financial commitments according to clearly defined criteria set out in its Terms of Reference. It has subsumed within its function the role of the previous Finance Committee, which was discontinued from 1 January 2013. The Operating Board receives the recommendation of the Audit Committee on the annual Financial Statements and reviews and approves them on behalf of the Syndicate as a whole. Members of the Operating Board who served from 1 January 2013 and up until the date of approval of these Financial Statements, unless otherwise stated, were as follows: Sir David Bell†* (Chair of Syndics from 30 November 2012), Syndic Professor Tony Minson†* (Chair of Syndics to 30 November 2012), Syndic Professor Ron Carter, MBE, Co-optee, appointed: 1 January 2013 Mr Andrew Chandler†, Executive Mrs Sherry Coutu†, CBE, Co-optee Dr Joan Lasenby, Syndic, appointed: 1 January 2013 Professor David McKitterick†*, Syndic Mr Peter Phillips†*, Executive Mr Andrew Reid†, University Director of Finance, Syndic Professor David Runciman†*, Syndic Mr Kevin Taylor* (Secretary), Executive, appointed: 1 January 2013 Mr Stan Webster, OBE†, Syndic Professor Sarah Worthington, Syndic, appointed to the Finance Committee: 1 October 2012

The ELT & Education Publishing Committee approves the publishing programmes of the ELT ('English Language Teaching') and Education businesses. Members who served from 1 January 2013 and up until the date of approval of these Financial Statements, unless otherwise stated, were as follows: Professor Ron Carter, MBE* (Chair), Co-optee Mr Michael Peluse*, Executive Mrs Hanri Pieterse*, Executive Dr Nigel Richardson*, Syndic Dr Sue Swaffield*, Syndic Mr Kevin Taylor* (Secretary), Executive

Member of the former Finance Committee, chaired by Professor Tony Minson, until it was replaced by the Operating Board on 1 January 2013.

†

*Member of the former Publishing Committee, chaired by Professor David McKitterick and active until 1 January 2013, when its functions were assumed by the two new subjectspecific committees.

*Member of the former Publishing Committee, chaired by Professor David McKitterick and active until 1 January 2013, at which time its functions were assumed by the two new subject-specific committees.

Audit Committee Professor Sarah Worthington, (Chair), Syndic, appointed: 1 October 2012 Dr Richard Barker, Syndic, resigned: 1 October 2012 Mr Jim Potter, MBE, Co-optee Mr Nick Temple, Co-optee Mrs Joanna Womack, Co-optee

The Press Chief Executive, Chief Financial Officer and Secretary have a standing invitation to attend each meeting of the Audit Committee (but are excluded from regular confidential sessions with external auditors) and other members of the Executive and senior management are invited to attend as required.

Cambridge University Press Annual Report 2013 Abstract of the Financial Statements

Remuneration Committee Sir David Bell (Chair of Syndics from 30 November 2012), Syndic Professor Tony Minson (Chair of Syndics to 30 November 2012), Syndic Mr Stan Webster, OBE, Syndic The Remuneration Committee determines the remuneration of the Chief Executive and other specified senior executives. The Press’s Director for People is normally invited to attend meetings of this committee.

The Executive and Management The day-to-day management of the Press is delegated to the Chief Executive, who appoints the Press Board (currently consisting of twelve (2012: eleven) Directors), and other staff as he deems necessary to conduct the Press’s business around the world.

Members of the Press Board who served during the twelve months ended 30 April 2013 and up until the date of approval of these Financial Statements, unless otherwise stated, were as follows: Mrs Cathy Armor, appointed 1 October 2012 Mr William Bowes, appointed 1 January 2013 Mr Andrew Chandler Mr Richard Fisher Mr Tony Lund Mr Mark Maddocks Mr Michael Peluse Mr Peter Phillips, Chair from 1 May 2012 Mrs Hanri Pieterse Mr Simon Ross Mr Kevin Taylor Mrs Sandra Waterhouse, appointed 1 October 2012

Syndics’ Statement The Consolidated Statement of Financial Activities and the Consolidated Balance Sheet of Cambridge University Press for the year ended 30 April 2013 (the “abstract of the financial statements”) presented on page 20 are not the full financial statements of Cambridge University Press, but a summary of information derived therefrom.

Under Statute J of the University of Cambridge, the Syndics are responsible for preparing full financial statements and for having these audited. The Syndics have elected to prepare the full financial statements in accordance with the requirements of Statement of Recommended Practice: Accounting and Reporting

by Charities (revised 2005).

The full financial statements from which the abstract of the financial statements are derived, were approved by the Syndics on 16 October 2013. The independent auditors’ report on the financial statements was unmodified.

The full financial statements are available on request from Cambridge University Press, University Printing House, Shaftesbury Road, Cambridge CB2 8BS.

Sir David Bell Chairman of the Press Syndicate

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Independent auditors’ statement to the Syndics of Cambridge University Press We have examined the abstract of the financial statements which comprise the Abstract of the Consolidated Statement of Financial Activities and the Consolidated Balance Sheet set out on page 20.

Respective responsibilities of Syndics and auditors The Syndics are responsible, under Statute J of the University of Cambridge, for preparing the Cambridge University Press Annual Report for the year ended 30 April 2013 (‘Annual Report’), including the abstract of the financial statements.

The Syndics have elected to prepare the abstract of the full financial statements in accordance with relevant requirements of Statement of Recommended Practice: Accounting and Reporting for Charities (revised 2005).

Our responsibility is to report to you our opinion on the consistency of the abstract of the financial statements within the Annual Report with the full financial statements, and their compliance with the relevant requirements of Statement of Recommended Practice: Accounting and Reporting for Charities (revised 2005).

This statement, including the opinion, has been prepared for and only for the Syndics of Cambridge University Press as a body to discharge its responsibilities under Statute J of the University of Cambridge and for no other purpose. We do not, in giving this opinion, accept or assume responsibility for any other purpose or to any other person to whom this statement is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

We conducted our work in accordance with Bulletin 2008/3 issued by the Auditing Practices Board. Our report on the full financial statements of Cambridge University Press describes the basis of our audit opinion on those financial statements.

Opinion In our opinion the abstract of the financial statements are consistent with the full financial statements of Cambridge University Press for the year ended 30 April 2013 which themselves comply with the relevant requirements of Statement of Recommended Practice: Accounting and Reporting for Charities (revised 2005).

PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors Cambridge 22 October 2013

Notes a) The maintenance and integrity of the Cambridge University Press website is the responsibility of the syndics; the work carried out by the auditors does not involve consideration of these matters and, accordingly, the auditors accept no responsibility for any changes that may have occurred to the summarised financial statements since they were initially presented on the website. b) Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Cambridge University Press Annual Report 2013 Abstract of the Financial Statements

Abstract of the Financial Statements Abstract of Consolidated Statement of Financial Activities for the year ended 30 April 2013 Incoming resources from charitable activities Operating surplus

2013 £’m

2012 £’m

261.7

245.0

8.2

2.0

6.0

1.4

Net incoming resources before transfers, tax and minority interests

14.2

3.4

Taxation

(2.3)

(2.5)

Attributable to minority interests

(0.1)

(0.8)

Net incoming resources before other recognised gains and losses Other recognised gains and losses

11.8

0.1

Actuarial loss on post-retirement benefits

(3.6)

(12.7)

Currency translation (loss)/gain

(0.7)

0.2

7.5

(12.4)

2013 £’m

2012 £’m

2.6

4.7

44.1

52.3

Profit on disposal of tangible fixed assets

Net movement in funds

Consolidated Balance Sheet at 30 April 2013 Fixed assets Intangible fixed assets Tangible assets Investment in joint ventures

0.2

0.2

46.9

57.2

Current assets Pre-publication costs

28.7

30.6

Stocks

29.7

25.7

Debtors

80.4

72.1

Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year

47.4

27.9

186.2

156.3

(89.1)

(81.9)

97.1

74.4

144.0

131.6

(5.0)

(2.3)

Net assets excluding post-retirement liabilities

139.0

129.3

Defined benefit pension scheme liability – funded

(82.5)

(82.1)

Other post-retirement benefits liability – unfunded

(24.1)

(20.5)

32.4

26.7

Net assets Funds General (unrestricted) Pension and other post-retirement benefit reserve Minority interest

137.4

127.8

(106.6)

(102.6)

1.6

1.5

32.4

26.7

2013 £’m

2012 £’m

7.5

(12.4)

–

(0.5)

Abstract of funds reconciliation for the year ended 30 April 2013 Net movement in funds Exchange differences released on liquidation of foreign subsidiary Transfer of funds to the University of Cambridge Net addition to / (reduction in) funds Closing funds before minority interests Minority interests Closing funds

(1.9)

(0.3)

5.6

(13.2)

30.8

25.2

1.6

1.5

32.4

26.7

Cambridge University Press Annual Report 2013 Appendix

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Appendix Statute J of the University of Cambridge: The University Press 1. There shall be in the University a University Press which shall be devoted to printing and publishing in the furtherance of the acquisition, advancement, conservation, and dissemination of knowledge in all subjects; to the advancement of education, religion, learning, and research; and to the advancement of literature and good letters.

2. There shall be in the University a Press Syndicate.

The management of the finance, property, and affairs generally of the University Press shall be the responsibility of the Press Syndicate which shall exercise in relation thereto all the powers of the University except in so far as the Statutes and Ordinances expressly or by necessary implication provide otherwise. The Press Syndicate shall consist of the Vice-Chancellor or a duly appointed deputy as Chairman and such number of members of the Senate appointed in such manner as shall be determined from time to time by Ordinance.

3. The Press Syndicate shall have power in the name of the University and for the purposes of the University Press to exercise the powers in section 1 of Chapter III of Statute F. These powers shall apply to investment as well as to any other activity or function of the University Press. Save only insofar as the Statutes, Ordinances or regulations enacted under Statute J, 5 expressly or by necessary implication provide otherwise, these powers may be exercised at the absolute discretion of the Press Syndicate.

4. All income accruing to the University Press shall be credited to the accounts of the Press Syndicate and all University Press capital and income shall be controlled by the Press Syndicate and applied by them at their sole discretion for the purposes of the University Press.

5. The Council shall have authority to impose limitations on the power of the Press Syndicate to enter into any financial commitments or to grant security on the property of the University Press.

6. The Press Syndicate shall have power in the name of the University to engage persons for employment in the service of the University Press, determine their salaries and pensions, and prescribe the conditions of their service.

7. Persons holding certain posts in the University Press which have been specially designated under this section by the Council on the recommendation of the Press Syndicate shall be treated as University officers for the purposes of Statute A, III, 7(b), Statute B, I, 1, Statute B, III, 6, and Statute K, 3(h). The following have been specially

designated under this section: the Secretary of the Press Syndicate, Directors, Associate Directors, Senior Editors, and Senior Managers of the Press.

8. The accounts of the University Press shall be audited annually by one or more qualified accountants appointed by the Council. The Council shall in every year appoint one or more persons from among the members of the Finance Committee, who shall examine these accounts, confer with the auditor or auditors, and report to the Council.

9. There shall be a Press Seal, as a seal of the University to be used on the directions of the Press Syndicate in matters relating to the affairs of the University Press; but the existence of the Press Seal shall not invalidate the use in connection with such matters of any other seal of the University. The University shall have power to make Ordinances concerning the custody and affixing of the Press Seal.

10. The Press Syndicate shall have power to delegate any of their powers under this Statute subject to any limitations imposed by Ordinance.

11. The term property of the University Press here and elsewhere in Statutes and Ordinances shall refer to property of the University, both real and personal, held or used for the purposes of the University Press. In favour of any person having dealings with the University Press a certificate signed by the Registrary that any particular property is the property of the University Press, or that any limitations imposed under Statute J, 5 have been complied with, shall be conclusive.

12. The Press Syndicate shall make an Annual Report to the Council, which shall be published to the University either as a whole or in summary.

13. Notwithstanding the provisions of the foregoing sections, the Council shall have power in circumstances which the Council deems to be exceptional, on the advice of its Finance Committee, to discharge the Press Syndicate, and to assume full responsibility itself for the management of the Press for the time being. If the Council has occasion to exercise the powers available under this section, the Council shall make a full report to the University on the circumstances necessitating such action.

Printed in the United Kingdom, on Revive 50 White Silk, which contains 50Â per cent recycled waste and 50 per cent virgin fibre and is manufactured at a mill certified with ISO 14001 environmental management standard.