REGISTERED CHARITY NUMBER: 045682
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 June 2025
for
Glasgow Acting Academy
The Kelvin Partnership Ltd Chartered Accountants The Cooper Building 505 Great Western Road Glasgow G12 8HN
Glasgow Acting Academy
Contents of the Financial Statements for the Year Ended 30 June 2025
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|Report|of the|Trustees|1|to|9|
|Independent|Examiner's|Report|10|
|Statement|of Financial|Activities|11|
|Balance|Sheet|12|
|Notes|to|the|Financial|Statements|13|to|18|
|Detailed|Statement|of Financial|Activities|19|to|20|
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Glasgow Acting Academy
Report of the Trustees for the Year Ended 30 June 2025
The trustees present their report with the financial statements of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
Our objectives and aims are as follows:
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To advance the arts, heritage and culture through the teaching and facilitation of the performing arts to our participants. We aim to achieve this by offering a variety of classes, covering all aspects of performing arts both on stage and back stage. In doing so, Glasgow Acting Academy shall bring the arts to a wider and varied background of participants.
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To advance the education, learning and understanding of the arts, heritage and culture by ensuring our performing arts classes and learning facilitation are in accordance with the Curriculum for Excellence (and/or any appropriate educational framework deemed relevant). We shall offer a student-tailored learning, using both informal and formal accredited qualifications.
Executive summary
The 2024-2025 financial year for Glasgow Acting Academy SCIO has been marked by steady student enrolment, successful productions, and several funding applications. Despite some challenges in achieving our target student numbers in certain quarters, the academy has shown resilience and adaptability, hosted successful events and secured critical funding for future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Quarter 1: July, August, September 2024
Overview
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During this quarter student enrolment remained steady, exceeding our target of 130 students with an average of 134. This is consistent with our numbers in year ended June 2024.
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- A total of 10 classes were held throughout the week, offering a mix of production and technique sessions for students aged 4 to 18. The Thursday acting technique class for ages 11-13 had the highest enrolment, with an average of 28 students. Conversely, the Sunday junior musical theatre technique class for ages 4-8 had the lowest attendance.
Productions
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During this quarter, we held our annual summer schools, supported by a £2,520 grant from the Hugh Fraser Foundation to cover teaching costs. We offered three distinct programs: Hogwarts, Play in a Week, and Six the Musical, with a total of 48 young participants. The feedback from parents and participants was overwhelmingly positive. One parent shared, "The workshop was a highlight of my son’s summer. It not only developed his acting skills but also helped him grow socially and emotionally.' Another parent of a 7-year-old reflected on the impact of the Hogwarts workshop, noting, 'It boosted her confidence, and seeing her perform at the end was a proud moment for our family.”
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- August marks the summer production period at GAA. This year, our senior acting students performed Second Person Narrative, while our intermediate acting students presented Fantastic Mr Fox. Please see the detailed breakdown below:
Page 1
Glasgow Acting Academy
Report of the Trustees
for the Year Ended 30 June 2025
| Production Age |
Income generated | Expenses generated from | Expenses generated from | Total | Audience |
|---|---|---|---|---|---|
| name range |
from performance | props,costume | costume and set | profit | number |
| fees and ticket sales | made | ||||
| Second 14-18 |
£1,390 | £556 | £834 | 74 | |
| Person | |||||
| Narrative | |||||
| Fantastic 10-13 |
£2,160 | £783 | £1,377 | 116 | |
| Mr Fox | |||||
| Funding | |||||
| - During this quarter the following funding applications |
were enquired about/submitted. | ||||
| Funder | Description | Amount | Notes | ||
| CreateNetworks | Multi-Purpose Studios | £15,360 | Unsuccessful; | ||
| number of | |||||
| applications | |||||
| exceed | |||||
| expectation | |||||
| Landsec | Unrestricted | £3,000 | Unsuccessful; | ||
| received more | |||||
| eligible | |||||
| applications than | |||||
| able to | support | ||||
| The Happiness Fund | |||||
| Barcapel Foundation | 2025 Scholarships | £5,000 | |||
| Mary Janet King Trust | 2025 Scholarships | £5,000 | Successful | ||
| (Foundation Scotland) | |||||
| Young Start | Unspecific | ||||
| Hays Travel Foundation | 2024 Scholarships/ | £5,000 | |||
| Bursaries | |||||
| Hedley Foundation | 2025 Scholarships/ | £5,000 | |||
| Bursaries | |||||
| MissAM Pilkington | Mics + Sound Equipment | n/a | |||
| Charitable Trust | |||||
| James T Howat Charitable | Mics + Sound Equipment | n/a | |||
| Trust | |||||
| Darroch Charitable Trust | Mics + Sound Equipment | n/a | |||
| WH Smith | Books + Literacy Events | n/a | |||
| Andor Charitable Trust | Mics + Sound Equipment | n/a | |||
| Team | |||||
| James Ahern Foundation | Bursary Fund | n/a | |||
| Cuthbert Horn Trust | Mics + Sound Equipment | £4,000 | |||
| The Grocers’ Charity | Mics + Sound Equipment | £5,000 | Unsuccessful; | ||
| Does not have | |||||
| enough | resources | ||||
| to favour all of | |||||
| the proposals | |||||
| The Turtleton Charitable | Multi-Purpose Studios | £14,500 | |||
| Trust | |||||
| HughFraserFoundation | Easter/SummerSchools | £4,128 |
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Glasgow Acting Academy
Report of the Trustees
for the Year Ended 30 June 2025
Gordon Fraser Charitable Bursary Fund £1,000 Trust Ross & Liddell Unrestricted £500 Miller Homes Community Bursary Fund £1,000 Fund Scottish Building Society Multi-Purpose Studios £5,000 Allied Vehicles Charitable Mics + Sound Equipment n/a Trust Awesome Foundation Theatre Trips £500
Events
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In July, our Class of Merit, consisting of our most senior students, had the exciting opportunity to participate in the National Festival of Youth Theatre. This event allowed the cast of 15 to attend a three-day residential, where they immersed themselves in a range of enriching experiences. Throughout the festival, students engaged in various workshops led by industry professionals, focusing on enhancing their acting skills and broadening their theatrical knowledge. They also collaborated with young performers from across Scotland and internationally, fostering a spirit of creativity and cultural exchange. Additionally, students had the chance to watch several inspiring performances from other youth theatre groups, providing valuable insights into different styles and interpretations of theatre. The highlight of the trip was the presentation of their original production, I <3, which received positive feedback from both peers and mentors. This experience not only fostered their artistic growth but also strengthened their camaraderie as a group, creating lasting memories. An 18 year old student remarks "Everything was memorable. from performing in such a wonderful space to the incredible workshops. But the thing I'll take with me the most is the connections I've made with all of the incredible young people I've met". The event made a loss of £30.52 due to an unexpected travel cost from the train station to the campsite.
-
- Atthe end of August, we held our annual Oscars ceremony at the National Piping Centre, inviting all students, families, alumni, and friends of GAA to celebrate the achievements of the past year. The event was a resounding success, with 108 tickets sold, bringing together our community in a night of recognition and celebration. Attendees enjoyed an evening filled with performances, awards, and heartfelt tributes to the hard work and dedication of our students. The event not only fostered a sense of community but also generated a profit of £565.87, which will contribute to future GAA initiatives and programs.
Training and Meetings
- During this period, various training sessions and meetings were conducted to enhance staff capabilities and operational efficiency. MB articipated in fire safety training to ensure a secure environment for both students and staff. Additionally, attended autism awareness training, equipping her with valuable insights to better support our diverse student population. In July, a comprehensive staff meeting was held, where several key topics were discussed, including health and safety protocols, budget and financial planning and the upcoming panto production. These discussions were crucial in aligning our goals and strategies for the upcoming year.
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Glasgow Acting Academy
Report of the Trustees for the Year Ended 30 June 2025
Quarter 2: October, November, December 2024
Overview
-
During this quarter the target number of students of 130 was reached throughout with an average of 131 students.
-
- 18 Trial students attended in this quarter. - The junior acting technique class taking place on a Saturday morning had the least amount of students with an average of 11 students.
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- The intermediate musical theatre technique class had the largest student numbers with an average of 31.
Scholarship Program & Funding
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Funder Description Amount Notes
Scottish Children's Lottery | Scholarships £1,000 Successful
Roux Foundation Scholarships £8,316
Robert Barr's Charitable Multi-purpose studio £14,000
Trust
Weir Charitable Trust Multi-purpose studio £8,015
Morrisons Foundation Mics and Sound £10,000
Equipment
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-
Our scholarships program has made a huge impact on students who receive it. A student shared: "Glasgow Acting Academy has improved my confidence, increased my drive to take more opportunities, and allowed me to make many new connections."
-
confidenceA parent noted:has grown| titremendously. to be anxiousShe now aboutembraces new placesnew andopportunities, showing dancesincluding to family,a CBeebiesbut her casting call.”
-
- Asenior student shared "GAA has introduced me to performing arts as I have had no experience prior to GAA. With the experience and skill sets I have built at GAA, I have been able to pursue acting further out with GAA. My first biggest achievement within GAA was securing a place in the Class of Merit. Performing at NFYT 2024 was my first ever show, and I was very grateful to be a part of it. I was also previously offered a conditional full-time Acting offer at Theatre College of Scotland. Currently, [ have been able to secure an offer at RCS Juniors Level 3 Acting for the 2024-2025 year."
Performance & Events
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Production Age Income generated Expenses generated from _ Total Audienc
name range from performance fees props, costume and set profit e
and ticket sales made number
Cabaret and 9-18 £2,381 £494 £1,887 152
Oran Mor
Robin 10-18 £4,927 £1,000.55 £3,926.45 327
Hood
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Glasgow Acting Academy
Report of the Trustees
for the Year Ended 30 June 2025
-
Cabaret at Oran Mor was new for 2024 and one parent remarked "GAA always has high standards. It was wonderful to see so many young people shine."
-
Panto as always was a huge hit. An audience member said "Amazing performances from all! Talent in abundance-well done cast and everyone involved with GAA!"
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Halloween Fundraiser took place in October and raised £316 for general GAA costs.
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- Two trips took place during this quarter. Costs were covered for both, cinema trip to see Wicked with the cast of Oz and panto trip to see Mother Goose at the Townhouse Hamilton.
-
External hires took place with the following organisations
-
Anan Alba
-
New College Lanarkshire - Hamilton Theatre Arts
-
AGM held on 24th October to review operations and future planning
Quarter 3: January, February, March 2025
Overview
During this quarter, Glasgow Acting Academy SCIO entered 2025 with strong momentum. We focused on growth, program delivery, and administrative improvements. Despite transitioning to a new booking system in March, our student numbers remained steady and exceeded our revised targets. This period also saw meaningful performances, successful funding applications, and progress in staff development and governance.
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The new student number target of 135 was set and achieved in both January and February, with an average of 138 students across the quarter.
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We transitioned to a new booking system (Coacha) in March, which has temporarily affected the accuracy of student data as we adjust.
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Our constitution was updated and approved by the Board in January 2025.
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- A three-year funding application was submitted to the Glasgow Communities Fund to expand our scholarship and bursary offering.
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- Staff training included refresher Child Protection Training ir i also completed updated Child Protection Officer training.
Scholarship Program & Funding
We continued to prioritise affordability and inclusion through our scholarship program, ensuring that financial barriers do not prevent participation. We also pursued new funding opportunities to strengthen this support. Funder Description Amount Notes JTH Charitable Trust General costs £250 Received in this quarter
Performance & Events
Our students had multiple opportunities to perform this quarter, with three full-scale performances and a Junior Musical Theatre showcase. Each production reflected the creativity, growth, and teamwork of our young people. We also welcomed industry professionals who offered valuable feedback and encouragement.
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Glasgow Acting Academy
Report of the Trustees
for the Year Ended 30 June 2025
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Production name Audience Income Expenses Profit Notes
Oz 95 £1,630 £484..10 £1,145. A strong start to the
90 year with solid ticket
sales
TheVampire Gorbals 98 £1,620 £358 £1,262 rrattendederrand said:
"Blown away by the
company's energy,
talent, commitment...
brilliant and razor-sharp
storytelling."
No Regrets (NT 91 TBC in TBC in TBC in Home performance of
Connections. Home next quarter next quarter next NT Connections script.
performance) quarter ae:the cast's humour, heart
and dynamic
performances.
Junior MT Showcase N/A N/A N/A N/A Mini informal
performance for parents
showcasing
development of our
youngest group.
----- End of picture text -----
Quarter 4: April, May, June 2025
Overview
-
We welcomed an average of 124 students this quarter - nine below our target - though we were encouraged to see 15 trial sessions take place, showing signs of renewed growth.
-
Our 10 weekly classes and rehearsals continued consistently. As has been the pattern all year, Intermediate Musical Theatre Technique (Sundays) was our most popular class, while Junior Acting Technique (Saturdays) had the lowest uptake.
-
In June, we held a staff planning meeting to reflect on the first half of the year and plan ahead for future programme development and student engagement.
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- First aid refresher training was completed byee <<eping our safeguarding commitments up to date.
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A major facilities upgrade was completed in June, with the full renovation of our front steps for safety and accessibility. The total cost was £6,040, which GAA covered in partnership with our landlord.
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Glasgow Acting Academy
Report of the Trustees for the Year Ended 30 June 2025
Performance & Events
-
During Easter, we delivered two 2-day workshops: - Acting for Camera, led byain 12 participants focusing on performance for film for age 14-18
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- Mean Girls vs Hairspray, led by3 2cine 18 young people in high-energy musical theatre for ages 19-13.
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We took part for the first time in the Positive Stories for Negative Times Festival, with 18 senior students performing a new piece at the Tron Theatre. Participants attended workshops with other theatre groups and watched performances throughout the day. Feedback was overwhelmingly positive. One participant, J (age 17), said:"That was such an incredible show and the GAA spin with all the physicality was so fun. I loved it, and it was obviously directed and assistant directed incredibly!"
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- In June, we presented our summer musical Matilda Jr., directed by vith musical direction byt featured four sold-out performances and a cast of 24.
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- The show played to a total audience of 222 and was met with glowing reviews. One audience member,flowed seamlessly."INI conments "Was so impressed by the talented cast and loved how it
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- Our NT Connections production No Regrets was performed at the Beacon Arts Centre in April as part of the national festival. The piece continued to evolve, and the feedback andremainedfull of exceptional. life. They managedPlaywrichto be heighteneda><which "Thehelped performancesus engage werequickly so dynamicwith each new character - yet stay so believable at every turn, which made for such laughs and moments of real tenderness.""The effort and commitment you've all put in is so clear to see and has paid off. I hope they enjoyed performing it as much as I did watching it. I feel so lucky to have had you all take on the work - and luckier still to have had that as my first experience seeing this play performed."
-
In June, we were selected as one ofjust 10 youth theatre companies across the UK to perform No Regrets at the National Theatre in London - an extraordinary honour. All travel and accommodation costs were covered by the National Theatre. The show received outstanding national reviews. Theatre and Tonic wrote: "The show was mesmerising. Through subtle wardrobe changes, slick transitions, and a single main character with a recording device, it felt like we were inside their head - witnessing the memories and stories they'd collected over the years."
Performance & Workshop Financials
| Production name | Audience/ | Income | Expenses | Profit |
|---|---|---|---|---|
| Participates | ||||
| Acting forCamera (Easter Workshop) | 12 | £600 | £280 | £320 |
| Mean Girls vs Hairspray (Easter | 18 | £900 | £420 | £480 |
| Workshop) | ||||
| Positive Stories at Tron Theatre | N/A | £890 | £360 | £530 |
| © | ||||
| Matilda Jr. | 222 | £4,146 | £2,293.33 | £1,852.6 |
| 7 | ||||
| NoRegrets-BeaconArtsCentre | N/A | £1,232 | £662.91 | £569.09 |
Note: All workshop income is participant fee minus staff costs. Performance income includes ticket sales and/or performance fees minus set, props, costume, tech hire.
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Glasgow Acting Academy
Report of the Trustees for the Year Ended 30 June 2025
Scholarship Programme & Funding
Funder/Source Purpose/Description Amount Foundation Scotland Unrestricted cost-of-living support £500 (secured) Glasgow Communities Fund 3-year scholarship & bursary programme £188,287 (applied, decision due Oct/Nov) Awesome Foundation Set Design equipment and creative materials £500 (applied) Garfield Weston Foundation General operating/core costs £8,000 (applied) Essentia Foundation Expansion of scholarship programme £10,000 (applied) Persimmon Foundation Scholarships £50,000 (applied, decision due Aug) Benefact Charity Heroes National award nomination Nominated (outcome Awards due Sept.)
Venue Hire & Partnerships
-
We continued to open our space to external hirers and creative partners this quarter, offering affordable, flexible access for local theatre-makers and educators.
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New College Lanarkshire used the space for ongoing rehearsals and practical sessions.
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Skelf Theatre Co. and Out With It Theatre Co. hired the space for rehearsals and performance development.
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We hosted several private singing lessons for individual students and young professionals.
FINANCIAL REVIEW
Principal funding sources
Glasgow Acting Academy (SCIO)'s income is derived mainly from student fees and show income.
Reserves policy
Unrestricted funds: these consist of funds which are available to the charity to use in the furtherance of achieving its objectives. The unrestricted funds balance of £11,978 (2024 - £18,990) remains positive following efforts in the last few years to bring the reserves in a healthy position.
Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate support to continue in operational existence for the foreseeable future. Thus the trustees have adopted the going concern basis of accounting in preparing the financial statements.
FUTURE PLANS
-
become a living wage employer
-
gaining volunteer friendly status
-
moving premises to a more suitable venue within a performing arts setting.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
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ed i ipae Hae : ij
;
Glasgow Acting Academy
Report of the Trustees
for the Year Ended 30 June 2025
The organisation is a Scottish Charitable Incorporated Organisation, incorporated on 8 June 2015, haviny previously been a charitable company limited by guarantee, incorporated on 14 January 2015 and registered as a charity in Scotland. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Recruitment and appointment of new trustees
The recruitment of present trustees came from existing volunteers and advertised posts on our website and in the local volunteer centre. [n future we will post advertisements on the national volunteering website (Volunteer Scotland), on our social media and we will also recruit from our own existing volunteers and students.
Induction and training of new trustees
Trustees must complete the induction training that includes peer-to-peer discussion about what is expected in their role and what is required by law. Trustees will be offered relevant training to ensure their own self-development and therefore our organisation's development.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 045682
Principal address
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Trustees
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ee Examiner
The Kelvin Partnership Ltd Chartered Accountants The Cooper Building 505 Great Western Road Glasgow G12 8HN
i
Approved by order of the board of trustees on | September 2025 and signed on its behalf by:
Page 9
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;
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Independent Examiner's Report to the Trustees of Glasgow Acting Academy
I report on the accounts for the year ended 30 June 2025 set out on pages eleven to eighteen.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
-
In connection with my examination, no matter has come to my attention :
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
-
to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
The Institute of Chartered Accountants in England and Wales
The Kelvin Partnership Ltd
Chartered Accountants The Cooper Building 505 Great Western Road Glasgow G12 8HN
1 September 2025
Page 10
Glasgow Acting Academy
Statement of Financial Activities for the Year Ended 30 June 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|30.6.25|30.6.24|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Charitable|activities|4|
|Acting Academy|750|8,500|9,250|10,300|
|Other|trading|activities|2|150,556|-|150,556|136,399|
|Investment|income|3|11|-|11|26|
|Total|151,317|8,500|159,817|146,725|
|EXPENDITURE|ON|
|Charitable|activities|
|Acting Academy|158,329|6,483|164,812|155,381|
|NET INCOMEKEXPENDITURE)|(7,012)|2,017|(4,995)|(8,656)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought|forward|18,990|1,230|20,220|28,876|
|TOTAL|FUNDS|CARRIED FORWARD|11,978|3,247|15,225|20,220|
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The notes form part of these financial statements
Page 11
.
i a
PaaS
Glasgow Acting Academy
Balance Sheet 30 June 2025
| 30.6.25 | 30.6.24 | ||||
|---|---|---|---|---|---|
| Unrestricted | —_Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Cash at bank and in hand | 12,948 | 3,247 | 16,195 | 20,285 | |
| CREDITORS | |||||
| Amounts falling due withinone year | an) | (970) | - | (970) | (65) |
| NETCURRENT ASSETS | 11,978 | 3,247 | 15,225 | 20,220 | |
| TOTALASSETSLESSCURRENT | |||||
| LIABILITIES | 11,978 | 3,247 | 15,225 | 20,220 | |
| NET ASSETS | 11,978 | 3,247 | 15,225 | 20,220 | |
| FUNDS | 10 | ||||
| Unrestricted funds | 11,978 | 18,990 | |||
| Restricted funds | 3,247 | 1230 | |||
| TOTALFUNDS | 15,225 | 20,220 |
The financial statements were approved by the Board of Trustees and authorised for issue on | September 2025 and were signed on its behalf by:
The notes form part of[these][financial][statements]
Page 12
Glasgow Acting Academy
Notes to the Financial Statements for the Year Ended 30 June 2025
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost Computer equipment - 33% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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continued...
Glasgow Acting Academy
Notes to the Financial Statements ~ continued for the Year Ended 30 June 2025
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 30.6.25 | 30.6.24 | ||
| £ | £ | ||
| Fees and show income | 127,598 | 115,043 | |
| Shop and merchandise income | 11,776 | 12,558 | |
| Donations | 7,171 | 3,339 | |
| Event income | 4,011 | 5,459 | |
| 150,556 | 136,399 | ||
| 3. | INVESTMENT INCOME | ||
| 30.6.25 | 30.6.24 | ||
| £ | £ | ||
| Deposit account interest | 11 | 26 | |
| 4. | INCOMEFROM CHARITABLE ACTIVITIES | ||
| 30.6.25 | 30.6.24 | ||
| Acting | Total | ||
| Academy | activities | ||
| £ | £ | ||
| Grants | 9,250 | 10,300 | |
| Grants received, included in the above, are as follows: | |||
| 30.6.25 | 30.6.24 | ||
| £ | £ | ||
| Foundation Scotland | 500 | 6,000 | |
| Hugh Fraser Foundation | 2,500 | - | |
| Mary Janet King Trust | 5,000 | - | |
| Scottish Children's Lottery | 1,000 | - | |
| Skipton Building Society | - | 2,800 | |
| Sylvia Waddilove Foundation | - | 1,500 | |
| Ross & Liddell | 250 | - | |
| 9,250 | 10,300 |
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continued...
Glasgow Acting Academy
Notes to the Financial Statements - continued
for the Year Ended 30 June 2025
- TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024.
Trustees' expenses
There were no trustees’ expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.
- STAFF COSTS
The average monthly number of employees during the year was as follows:
| 30.6.25 | 30.6.24 | ||
|---|---|---|---|
| Acting Academy | 1 | 1 | |
| No employees received emoluments in excess of£60,000. | |||
| COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES | |||
| Unrestricted | Restricted | Total | |
| fund | funds | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Charitable activities | |||
| Acting Academy | - | 10,300 | 10,300 |
| Other trading activities | 133,479 | 2,920 | 136,399 |
| Investment income | 26 | - | 26 |
| Total | 133,505 | 13,220 | 146,725 |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Acting Academy | 143,391 | 11,990 | 155,381 |
| NET INCOME/(EXPENDITURE) | (9,886) | 1,230 | (8,656) |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 28,876 | - | 28,876 |
| TOTAL FUNDS CARRIED | |||
| FORWARD | 18,990 | 1,230 | 20,220 |
Page 15
continued...
Glasgow Acting Academy
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
| 8. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Fixtures | ||||
| and | Computer | |||
| fittings | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At | July 2024 and 30 June 2025 | 499 | 635 | |
| DEPRECIATION | ||||
| At 1 July 2024 and 30 June 2025 | 499 | 635 | 1,134 | |
| NET BOOKVALUE | ||||
| At 30 June 2025 | - | - | - | |
| At 30 June 2024 | - | - | - | |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 30.6.25 | 30.6.24 | |||
| £ | £ | |||
| Taxation and social security | (830) | (775) | ||
| Other creditors | 1,800 | 840 | ||
| 970 | 65 | |||
| 10. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.7.24 | in funds | 30.6.25 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 18,990 | (7,012) | 11,978 | |
| Restricted funds | ||||
| Scotland Children's Lottery | - | 438 | 438 | |
| Foundation Scotland | 1,230 | (1,230) | - | |
| Mary JanetKing Trust | - | 2,809 | 2,809 | |
| 1,230 | 2,017 | 3,247 | ||
| TOTALFUNDS | 20,220 | (4,995) | 15,225 |
Page 16
continued...
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
Glasgow Acting Academy
10. MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows:
==> picture [443 x 192] intentionally omitted <==
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|151,317|(158,329)|(7,012)|
|Restricted|funds|
|Scotland|Children's|Lottery|1,000|(562)|438|
|Foundation|Scotland|-|(1,230)|(1,230)|
|Turcan|Connell|2,500|(2,500)|-|
|Mary|Janet|King|Trust|5,000|(2,191)|2,809|
|8,500|(6,483)|2,017|
|TOTAL FUNDS|159,817|(164,812)|(4,995)|
----- End of picture text -----
Comparatives for movement in funds
==> picture [436 x 153] intentionally omitted <==
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Net|
|movement|At|
|At|1.7.23|in|funds|30.6.24|
|£|£|£|
|Unrestricted|funds|
|General|fund|28,876|(9,886)|18,990|
|Restricted|funds|
|Foundation|Scotland|-|1,230|1,230|
|TOTAL|FUNDS|28,876|(8,656)|20,220|
----- End of picture text -----
Page 17
continued...
Glasgow Acting Academy
Notes to the Financial Statements - continued for the Year Ended 30 June 2025
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
==> picture [443 x 270] intentionally omitted <==
----- Start of picture text -----
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|133,505|(143,391)|(9,886)|
|Restricted|funds|
|Foundation|Scotland|6,000|(4,770)|1,230|
|Skipton|Building|Society|2,800|(2,800)|-|
|Sylvia Waddilove|Foundation|1,500|(1,500)|-|
|Glasgow|C U|Ltd|400|(400)|-|
|Turcan|Connell|2,520|(2,520)|-|
|13,220|(11,990)|1,230|
|TOTAL FUNDS|146,725|(155,381)|(8,656)|
|Foundation|Scotland|-|grant|of £6,000|received|towards|scholarships.|
|Skipton|Building|Society|-|grant|of £2,800|received|towards|mic|and|sound|equipment.|
|Sylvia|Waddilove|Foundation|-|grant|of £1,500|received|towards|multi-purpose|studios.|
----- End of picture text -----
- RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 20235.
Page 18
Glasgow Acting Academy
| Detailed Statement ofFinancial Activities | ||
|---|---|---|
| for the Year Ended 30 June 2025 | ||
| 30.6.25 | 30.6.24 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Fees and show income | 127,598 | 115,043 |
| Shop and merchandise income | 11,776 | 12,558 |
| Donations | TA71 | 3,339 |
| Event income | 4,011 | 5,459 |
| 150,556 | 136,399 | |
| Investment income | ||
| Deposit account interest | ll | 26 |
| Charitable activities | ||
| Grants | 9,250 | 10,300 |
| Total incoming resources | 159,817 | 146,725 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 26,400 | 26,000 |
| Pensions | 605 | 593 |
| Rent, rates and water | 27,958 | 24,823 |
| Insurance | 4.913 | 3,339 |
| Light and heat | 6,481 | 7,311 |
| Telephone | 694 | 555 |
| Postage and stationery | 413 | 843 |
| Advertising | 872 | 987 |
| Sundries | 89 | 339 |
| Motor and travel | 1,648 | 1,994 |
| Supplies | 4,608 | 3,514 |
| Show expenses | 8,125 | 17,153 |
| Premises and maintenance | 20,269 | 10,168 |
| Subscriptions | 548 | 569 |
| Bank charges | - | 28 |
| Tutor expenses | 54,780 | 48,199 |
| Computer costs | 1,093 | - |
| Event costs | 3,874 | 7,017 |
| Training | 482 | 989 |
| 163,852 | 154,421 |
This page does not form part of the statutory financial statements
Page 19
Glasgow Acting Academy
Detailed Statement of Financial Activities for the Year Ended 30 June 2025
| 30.6.25 | 30.6.24 | |
|---|---|---|
| £ | £ | |
| Support costs | ||
| Governance costs | ||
| Auditors’ remuneration | 960 | 960 |
| Total resources expended | 164,812 | 155,381 |
| Netexpenditure | (4,995) | (8,656) |
This page does not form part of the statutory financial statements
Page 20