FEDERATION OF SCOTTISH THEATRE

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

Azets Audit Services

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Significant events

• “The last 12 months have been characterised by significant change for the organisation, as we moved on from an extensive consultation and review process and began work in implementing our new strategic framework and staff structure.”
• “Our plans for the future received a significant boost when we successfully secured an increased three-year revenue funding agreement through Creative Scotland's Multi-Year Funding programme.”
• “In February this year, Fiona Sturgeon Shea announced that she would be stepping down as Chief Executive after 4 years in post.”
• “the appointment of our new Chief Executive, Kenny McGlashan, who will take up post in September 2025.”
• “Tensions peaked in August 2024 when the Scottish Government and Creative Scotland failed to agree on the release of £6.6 million in Grant-in-Aid funding.”
• “The Scottish Government's 2025-26 draft budget proposed an additional £34 million for culture, including £20 million for Creative Scotland's Multi-Year Funding Programme.”
• “In November 2024 FST members agreed by resolution an amendment to the Memorandum and Articles of Association to: a) allow for the appointment of Co-Opted Directors (as per Article 40.2).”
• “FST was successful in its application for Multi-Year Funding from Creative Scotland. Commencing in 2025/26 and for the two subsequent financial years, FST will receive an annual revenue grant of £320,000 which is an increase of £55,000 per year compared to the previous funding period.”

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

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  -7.5%

  £527,586 → £487,996

• Cash

  +12.7%

  £387,200 → £436,258

• Net assets

  +7.5%

  £473,006 → £508,535

• Employees

  -44.4%

  9 → 5

• Profit before tax

  +157.2%

  -£62,152 → £35,529

• Wages

  -36.4%

  £266,681 → £169,479

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