The university's research income for this year was over £114m, an increase of 6.5% on last year - a figure claimed as the most ever earned by a British university.

Oxford's research-related income now represents more than half of the university's annual budget.

Research into treating diabetes drew funding from over 20 organisations

This includes a rise of 12.7% in income from research carried out for British industry, contributing £8m to the total.

Pro-Vice-Chancellor, Sue Iversen, responsible for research funding, said that the increase reflected "the quality and breadth of our basic research, which puts us in a uniquely strong position to grasp new funding opportunities".

The largest slice of research earnings were from government-funded research councils, which spent £43m on projects in Oxford.

The single largest commissioner of research was the Medical Research Council, which spent almost £20m, followed by the Engineering and Physical Science Research Council and Biotechnology and Biological Sciences Research Council.

Major research projects can often be funded by a large number of interested parties. For instance, research into reducing the complications caused by diabetes was funded by over 20 different organisations - including the Medical Research Council, the British Diabetic Association and several pharmaceutical companies.

Charities, particularly those fundraising for medical research, were prominent in the multi-million expenditure on research at Oxford. This year the total income from charities was over £38m, an increase of £7m compared to two years ago.