ROYAL WELSH COLLEGE OF MUSIC AND DRAMA LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

HaysMac LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have reviewed the College's cash flow forecasts for a period in excess of twelve months from the date of approval of these financial statements (the going concern assessment period). After reviewing these forecasts, including compliance with current banking covenants and considering whether there are any material uncertainties, the Board are of the opinion that, taking account plausible downsides which reflect the risks and uncertainties described in this Trustees report and specifically in section 4.4, the College will have sufficient funds, to meet its liabilities as they fall due over the period reviewed. Accordingly, the financial statements have been prepared on a going concern basis.”

Significant events

• “In September 2025, we appointed a contractor to begin the first phase of redevelopment of the Old Library, paving the way for expanded activity from 2026/27.”
• “The College extended delivery of partnership activity, strengthening partnerships with Urdd Gobaith Cymru, National Youth Arts Wales and Jazz Explorers Cymru, and continuing to work closely with the National Music Service Wales and Seren.”
• “In 2024/25, RWCMD focused on building a new partnership-led approach to support outstanding young talent. Collaborations with National Youth Arts Wales (NYAW), the National Music Service for Wales (NMSW), the Urdd, and Seren have been central to this work.”
• “Over 2,400 young people and members of community groups visited the College for bespoke workshops, tours and performances. In addition, our students provided performances/workshops in over 35 schools and community venues.”
• “The Old Library capital campaign, to fund the restoration and transformation of the College's campus in Cardiff's city centre, has achieved further success for the future. Funding for the first phase of major refurbishment to begin in Autumn 2025 was enhanced with notable commitments of a further £1.5 million from the Foyle Foundation (bringing their total contribution to £2m), and £700,000 from the Welsh Government Transforming Towns Programme.”
• “RWCMD deepened its commitment to community engagement through a wide range of inclusive and collaborative initiatives across Wales and beyond, including thirty residencies supporting recent graduates and students, new placements in healthcare settings, and regional expansions like the jazz ensemble residency at Rhosygilwen.”
• “The College launched a Community Ticketing Scheme, offering free access to performances for individuals from underrepresented and disadvantaged backgrounds, including asylum seekers, disabled people, care-experienced youth, and members of the Tempo Time Credit network.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

17

last 12 months

Capital events

0

last 24 months

Officers appointed

5

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +7.6%

  £17,784,000 → £19,144,000

• Cash

  +55.3%

  £1,832,000 → £2,846,000

• Net assets

  +9.6%

  £19,746,000 → £21,647,000

• Employees

  -18.5%

  314 → 256

• Profit before tax

  -15.9%

  £2,109,000 → £1,774,000

• Wages

  -13.8%

  £7,465,000 → £6,435,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers