Glasgow School Of Art
Latest income
£60.4m
Latest spending
£52.6m
Accounts read
FY2025
Form
Company (the charity is registered with Companies House)
Financial health, per FY2025 accounts
The accounts state that the Group reported a surplus of £7.9m for the year ended 31 July 2025, driven largely by £8.1m in exceptional insurance income related to the Mackintosh Building fire. Per the trustees' report, underlying income grew by 12% to £52.4m, while total expenditure increased by 9% to £52.6m, resulting in net assets of £70.0m. The Board confirms adequate resources to continue operations for the foreseeable future with no material uncertainties identified.
What the accounts disclose
Highest-paid employee band: £220,001 - £230,000
“The ratio of the remuneration of the Director to the median salary of a permanent staff member is 6.85:1 (2023: 5.42:1)” — page 68
Per FY2025 accounts as filed with OSCR.
Related-party transaction: Grants paid to GSASA in 2024/25 totalled £324,000 (2023/24 £303,845). In addition, a sum of £163,248 was provided to Dundee University Students’ Association (DUSA) to deliver services to GSASA.
“Grants paid to GSASA in 2024/25 totalled £324,000 (2023/24 £303,845). In addition, a sum of £163,248 was provided to Dundee University Students’ Association (DUSA) to deliver services to GSASA.” — page 77
Per FY2025 accounts as filed with OSCR.
Employees paid over £60,000: 0
Per FY2025 accounts as filed with OSCR.
Reserves policy: 105 days of operating expenditure (held: £70.2m)
“Our target is to hold a cash balance equal to 105 days (~3½ months) of operating expenditure at the balance sheet date.” — page 25
Per FY2025 accounts as filed with OSCR.
Trading subsidiary: GS of A Singapore Pte Ltd
“The group financial statements include the School and its subsidiary, GS of A Singapore Pte Ltd.”
Per FY2025 accounts as filed with OSCR.
Independent examiner: AAB Audit & Accountancy Limited
Per FY2025 accounts as filed with OSCR.