Royal Highland Show society reports narrower losses
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.
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