THE GLASGOW ACADEMICALS WAR MEMORIAL TRUST

• ◆

  6 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

Consolidated group

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After reviewing financial forecasts and projections, the Governors have a reasonable expectation that the Trust has adequate resources and predictable income to continue its operations for the foreseeable future. They are satisfied that there are no material uncertainties that would cast doubt on this assessment. Accordingly, the accounts have been prepared on a going concern basis.”

Group structure

1. THE GLASGOW ACADEMICALS WAR MEMORIAL TRUST · parent
   1. Thinkfour Limited 85% · UK · to provide free access to online education
   2. Glasgow Academy International Limited 100% · UK · international endeavours, in particular to financial events relating to our India partnership.

Significant events

• “At the AGM held on 8th November 2024, Mr Andrew Calder, Mrs Margaret Khnichich, and Dr Punam Krishan retired from the Board, and Mr Robin Duff, Mr Fabrizio Marchetti, and Mrs Carolyn Morgan were elected as Governors.”
• “Mr Thomas Gemmill resigned as Secretary, and Mr Gavin Halliday was elected in his place.”
• “Mr Donald Carmichael resigned from the Board on 25th February 2025, having provided invaluable guidance through complex VAT and Pension changes.”
• “The introduction of VAT on independent school fees in Scotland, implemented midway through the financial year, led the school to absorb this additional cost to ensure families did not face an increase in fees.”
• “Sporting success continued in the 2024/25 session, with the 1st XI hockey team achieving a clean sweep in the West and the Rugby 1st XV reaching the National Plate quarter-final.”
• “The Glasgow Academy rowing team achieved incredible success at UK and European events, securing three golds, three silvers, and a bronze at the Scottish Championships.”
• “The tennis team won the Regional (Scotland) stages of the LTA Youth Schools Championships, beating George Heriot's School in the final.”
• “The school had 28 full internationalists in the Senior School across 13 different sports, with notable achievements including winning the Boys' Badminton Doubles at the Spanish U15 Open and the Scottish Junior Championship in swimming.”
• “The partnership with Nehru World School in Ghaziabad, Delhi, continues to flourish, with the Preschool in Noida being awarded 'Best Pre-school in India' for the second year running.”
• “During the year, the School strategically purchased a church at a cost of £351K, enhancing the scope and versatility of its estate.”
• “In May 2025, the School changed its investment manager from Aberdeen Standard Capital to Sarasin & Partners, with assets being transferred at market value.”
• “In November 2024, the School acquired Kelvinbridge Stevenson Memorial Church, opening up exciting opportunities for campus development.”

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

Filings

15

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  +1%

  £23,032,991 → £23,264,122

• Cash

  +22.8%

  £6,580,114 → £8,081,902

• Net assets

  +1.2%

  £36,466,530 → £36,887,127

• Employees

  +1.5%

  268 → 272

• Operating profit

  -36.4%

  £959,311 → £609,944

• Profit before tax

  -76.6%

  £1,947,680 → £455,592

• Wages

  -1%

  £12,199,744 → £12,082,554

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