ROYAL CONSERVATOIRE OF SCOTLAND

1. ROYAL CONSERVATOIRE OF SCOTLAND 2011-09-01 → present
2. THE ROYAL SCOTTISH ACADEMY OF MUSIC AND DRAMA 1900-12-13 → 2011-09-01

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

AAB Audit and Accountancy Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“RCS has produced an operating surplus for the year under review and has improved its overall cash position. The latest information available indicates that the forecast outturn for the year ahead will be an operating deficit. However, taking into account current liquidity, cash flow projections, future expected cash generation and the level of acceptances for places on programmes commencing in September 2025, it is considered that there are adequate resources to continue in operational existence for the foreseeable future and they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”

Significant events

• “Public funding for the sector in Scotland has contracted in real terms by around 20%.”
• “Inflationary pressures on energy and other costs, the increase to Employers' National Insurance and a forthcoming increase in employers' pension contributions.”
• “Additional costs incurred in the phased implementation of a new ERP system.”
• “Geo-political instability and economic uncertainty in key international markets continue to create a difficult operating environment for RCS.”
• “Proposals in the US to introduce restrictions and new sets of criteria will make it more difficult for some students to access federal loans to finance study abroad.”
• “A growing number of students are experiencing economic hardship which can be exacerbated by volatile factors such as exchange rate movements and the impact of high inflation on day-to-day living expenses.”
• “Shortfall in HE overseas student recruitment against target which will require the early deployment of contingency funds set aside for such an event.”
• “CO2e emissions decreased by 12% compared with the previous academic year, primarily driven by lower electricity consumption, with Wallace Studios recording a 28% decrease following the introduction of solar energy generation in January.”
• “UK Government's 2025 electricity emissions factor, reflecting grid decarbonisation and reduced reliance on imported gas, further contributed to the overall fall in emissions.”
• “In December 2024, RCS was confirmed as a signatory of the United Nations Race to Zero campaign for Universities and Colleges, pledging to halve emissions within direct control by 2030 and achieve net zero emissions by 2045.”

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

Filings

13

last 12 months

Capital events

0

last 24 months

Officers appointed

2

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

  +5.2%

  £30,684,000 → £32,273,000

• Cash

  +59.3%

  £4,420,000 → £7,040,000

• Net assets

  +7.1%

  £29,482,000 → £31,562,000

• Employees

  -2.2%

  858 → 839

• Operating profit

  +0.1%

  £1,916,000 → £1,917,000

• Profit before tax

  -9.9%

  £2,280,000 → £2,055,000

• Wages

  +8.6%

  £17,031,000 → £18,489,000

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