NATIONAL GALLERIES OF SCOTLAND FOUNDATION

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

CT Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we conclude that the Trustees' use of the going concern basis 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 Foundation was pleased to receive donations totalling £1.2m (2023-24 £3m) and £0.2m (2023-24 £0.2m) of investment income.”
• “During the year, the Foundation processed £0.2m (2023-24 £0.9m) payments towards existing grants and awarded new grant commitments of £1m (2023-24 £0.5m).”
• “In terms of protecting our existing assets, we recently conducted a thorough investment manager retender process which culminated in the appointment of Sarasin & Partners LLP.”
• “In 2023, following a standard public sector procurement process, NGS selected a new system and the Foundation is pleased to have awarded a total grant of £705k over three years to allow the system to be built and implemented.”
• “In June 2024, The Foundation (Drue Heinz Fund) was delighted to support the purchase of Drawing with montage No.18 an important piece of artwork by Marlow Moss. The Foundation provided £50k of the £70k acquisition price.”
• “The Foundation awarded a grant of £339k to NGS to fund a research project, which spans six years, and aims to catalogue the NGS Paolozzi collection and archive.”
• “During the year, the Foundation was proud to provide £20k support for an exhibition by Everlyn Nicodemus.”
• “The Foundation is thrilled to have awarded Live Music Now Scotland a £15k grant over 3 years, from September 2024 to August 2027.”

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

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

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

  —

  Not reported

• Cash

  -16.6%

  £1,946,000 → £1,623,000

• Net assets

  +4.6%

  £11,612,000 → £12,147,000

• Employees

  —

  Not reported

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