Fettes College
Latest income
£27.0m
Latest spending
£28.2m
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 net deficit of £1,275,315 for the year ended 31 August 2025, which included £1,144,844 of exceptional items, resulting in an underlying deficit of £130,471. Per the trustees' report, the school holds unrestricted reserves of £14,035,820, though these are largely represented by fixed assets, and the group maintains a revolving credit facility to support liquidity. The governors anticipate a return to surplus in the coming year despite short-term pressures from VAT on fees.
What the accounts disclose
Highest-paid employee band: £180,001 - £190,000
“Between £180,000 and £190,000 1” — page 38
Per FY2025 accounts as filed with OSCR.
Related-party transaction: Fettes Centre for Language & Culture Limited (subsidiary) was due £12,806 to the School.
“Fettes Centre for Language & Culture Limited was due £12,806 to the School (2024: £150,817 due by the School) at the year end.” — page 48
Per FY2025 accounts as filed with OSCR.
Related-party transaction: Fettes International Limited (subsidiary) was owed £29,304 by the School.
“Fettes Centre for Language & Culture Limited was due £12,806 to the School (2024: £150,817 due by the School) at the year end.” — page 48
Per FY2025 accounts as filed with OSCR.
Related-party transaction: Governors who are parents of pupils have arms-length transactions regarding school fees.
“Fettes Centre for Language & Culture Limited was due £12,806 to the School (2024: £150,817 due by the School) at the year end.” — page 48
Per FY2025 accounts as filed with OSCR.
Reserves policy: minimum desirable level for liquid assets of £0.25m (held: £14.0m)
“The Governors have set a minimum desirable level for liquid assets (defined as cash at bank and in hand and bonds with a maturity of less than one year but excluding fees received in advance) of £0.25m.”
Per FY2025 accounts as filed with OSCR.
Largest income source: Charitable activities (87% of income)
“Incoming resources from core charitable activities income, primarily fee income, amounted to £23,424,339”
Per FY2025 accounts as filed with OSCR.
Trading subsidiary: Fettes Enterprises Limited, Fettes Centre for Language & Culture Limited, Fettes International Limited
“Fettes College owns a trading subsidiary, Fettes Enterprises Limited (“Fettes Enterprises”) which in turn has two wholly owned trading subsidiaries, Fettes Centre for Language & Culture Limited and Fettes International Limited.” — page 6
Per FY2025 accounts as filed with OSCR.
Independent examiner: Henderson Loggie LLP
Per FY2025 accounts as filed with OSCR.