Royal Highland Show society reports narrower losses
The Royal Highland and Agricultural Society of Scotland (RHASS) has reported a halving of trading losses in 2024.
Its latest annual report shows a deficit of about £1.8 million last year, compared with losses of £3.5m in 2023.
Total income for the charity behind Scotland's largest agricultural event, the Royal Highland Show, topped £13.5m in the latest period, a 15% increase on the year before.
Total expenditure during 2024 came in at nearly £15.4m.
Meanwhile, governance changes to boost transparency, while also modernising and future-proofing the business were passed at an annual general meeting in Edinburgh.
The changes needed 75% of members to vote in favour, but they got 99.55% backing.
A new governance structure will take effect from July 16. It will feature a council of trustees and directors of both the Royal Highland Show and RHASS Highland Centre.
The council of trustees will be responsible for the RHASS Group strategy, finances and property, while also guiding its charitable objectives.
Up to 54 directors will remain focused on the development, delivery, budget and charitable impact of the Royal Highland Show, and they will be elected and appointed in the same way as now.
RHASS said these governance changes were not only beneficial but essential for future-proofing of the group.
It added: 'The move supports the five-year strategy which was presented during the RHASS member engagement tour earlier this year and at this year's AGM.
'The plan has been focused on securing future financial stability, economic sustainability and enhancing operational efficiency.
'The new structure will also provide support and challenge the new RHASS chief executive, Alex Paterson, starting on May 14.
RHASS chairman James Logan said 2024 was a year of 'significant change and decisive action'.
He added: 'To improve our financial footing and safeguard our society, we will continue to deliver on our charitable objectives for generations to come.
'Having our members strongly vote in favour of our proposed governance changes sits at the heart of our future strategy. It will help to reduce complexity and streamline our decision-making.
'Most importantly, this fresh approach will ensure we can best serve our members and remain committed to our mission of continuing to support and champion Scottish agriculture and rural communities.'
The 2024 Royal Highland Show saw a record-breaking 220,000 attendees and generated £708,672 in sponsorship for RHASS.
More than 100 events were held at the Royal Highland Centre in 2024, drawing over an additional 600,000 visitors to the venue.
RHASS has ambitions to grow its commercial arm, Highland Centre Ltd, with a focus on hosting world-class events – including music festivals – and corporate exhibitors.
Mr Logan continued: 'The Royal Highland Show continues to be our flagship fundraising platform and, therefore, remains central to our charitable delivery and financial model.
'We are continually looking to build on the success of each show by refining our programme of activity to support both educational impact and commercial return.
'This year, we're introducing an expanded family offer on the Sunday, and the Royal Highland Hoolie will once again help to broaden audience engagement and enhance income diversification.
'We are at a pivotal chapter of RHASS' wonderfully rich history and we're very much looking forward to continuing to drive forward the ambitions of our great sector, together with our members.'
This year's Royal Highland Show takes place over the four days from June 19-22.
RHASS announced last October that Alan Laidlaw had stepped down as chief executive after eight years. His successor, Mr Paterson, was the CEO of Historic Environment Scotland from 2016 to 2024.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Scottish Sun
an hour ago
- Scottish Sun
Major update as Scottish university gets set to axe 300 full-time jobs
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A TOP university has revealed a major update in its plan to axe 300 full-time jobs. Dundee University has now opened a voluntary redundancy scheme after coming up with an "alternative pathway" to solving the financial crisis at the institution. Sign up for Scottish Sun newsletter Sign up 3 Around 300 roles will now be cut at the uni through a voluntary programme Credit: Alamy 3 Students and staff taking part in a rally and march in Dundee after the job cuts announcement Credit: PA In March, we told how the uni estimated that 700 staff would be affected by a devastating job cull required to balance its books. But under new proposals last month, around 300 roles will now be cut through a voluntary programme. The scheme was put together after talks with campus trade unions and approved by the university court. Voluntary redundancy was opened today and will run until July 25, The Courier reports. Staff who accept the deal will leave their jobs by September 30. A spokesperson added: "This is an important step in the recovery plan for the university, as we look to reduce staffing by 300 fulltime-equivalent through the voluntary scheme." The cuts were first revealed by interim principal Professor Shane O'Neill during a meeting, where he cited "the current financial crisis" as the reason behind the decision. Professor O'Neill had previously warned MSPs that the university could run out of cash by June without lifeline support. The Scottish Funding Council has since approved a £22 million emergency support package, and an investigation into the crisis has been launched. The uni has also lodged a full funding request for £100million bail-out. University Challenge contestant admits 'I don't understand the question' as they struggle to answer in quarter-final - but could you get it right? Labour MSP Michael Marra previously described the job losses as "devastating" for university staff and the Dundee economy. The job losses come amid an ongoing debate over university funding in Scotland. Critics argue that the Scottish Government's "free" tuition model is putting severe pressure on university finances, leading to limits on the number of Scottish students accepted onto courses since international students pay higher fees. Dundee is not the only university in Scotland to plan to cut jobs this year. Around 350 employees of the University of Edinburgh have accepted voluntary severance as part of ongoing efforts to reduce costs. And the University of the West of Scotland (UWS) plans to axe 75 jobs.
STV News
2 hours ago
- STV News
Unsafe building cladding could cost Scottish Government £1.7bn
Unsafe building cladding could cost the Scottish Government £1.7bn over a 15-year period, according latest estimates. New estimates from Holyrood suggest almost 1,500 residential buildings may need repair work during the same time period. A Building Safety levy bill has been announced to help raise around £30m per year to help fund work to fix residential buildings. If passed, the construction of certain new residential properties will be taxed, which is similar to legislation in England Public finance minister Ian McKee said: 'The Scottish Government is committed to doing what is right and necessary to address the challenge of fixing buildings affected by unsafe cladding. 'That includes putting the appropriate funding arrangements in place to ensure that the associated costs of cladding remediation do not fall directly onto affected homeowners. 'I know that developers share our determination to keep people safe and this levy will ensure they make a fair contribution to these costs, just as they will be doing in England. 'I also welcome the continued cooperation of developers who have accepted responsibility for the assessments and any required mitigation and remediation of their buildings.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
The Herald Scotland
2 hours ago
- The Herald Scotland
Scots hospitality firm expects 'busier than ever' summer
The firm has used £20,000 of funding from the British Business Bank's Start Up loans programme to expand its headquarters in Sanquhar. Mr Gallacher, who set up Knockenhair in 2023, followed in the footsteps of his grandmother Nancy, who ran a similar business in the catering sector for 30 years before retiring in 2015. He studied professional cooking and hospitality management at Dumfries and Galloway College and started his own cake-making venture before deciding to take the family back to its hospitality roots. His grandmother, now 79, remains on hand as a source of advice and to test the firm's renowned strawberry tarts, of which more than 6,000 were made last year. Read more: Mr Gallacher said: 'While I was much too young to help out, I have fond memories of spending my weekends and school holidays pottering about in my gran's commercial kitchen and getting a taste of how the business worked – as well as trialling the recipes. Going to college to study hospitality was the obvious choice for me after finishing school and, following stints working in a couple of local bars and pubs, I felt that the time was right to give the catering business a go. 'The prep kitchen that my gran had used was still in decent condition, but now that I'm a couple of years into running the business, it feels like a good time to upgrade some of the equipment and increase the size of the space. It is still very much a family venture, and it is great to be able to get my gran's advice and also pick up again with some of the regular customers that she catered for years before. 'This summer we expect to be busier than ever with weddings and corporate events, covering everywhere from Glasgow to Carlisle.' Knockenhair Hospitality now has a team of 20 people and, further to the kitchen refurbishment, has plans to increase its footprint further in the coming years. Mr Gallacher was named young entrepreneur at the Dumfries and Galloway Life Awards in November. The Start Up Loans programme has now provided more than £75 million of funding to businesses in Scotland, with 8,000 loans provided to entrepreneurs. Barry McCulloch, senior manager, UK network, Scotland at the British Business Bank, said: 'Hospitality has been one of the core sectors that we have supported through the Start Up Loans programme in Scotland, so it is fitting to see the £75m milestone celebrated with Knockenhair Hospitality. The success to date highlights the effectiveness of the programme in addressing regional imbalances and access to finance among smaller businesses, which are of huge importance to the Scottish economy – particularly in rural communities.'
