The net assets of five schools had all increased by more than £1m each
By Ally Tibbitt, Billy Briggs and Karin GoodwinEdinburgh’s Fettes College counts former Prime Minister Tony Blair among its alumni
The Ferret’s research excluded schools that had not yet published accounts for 2021, and schools part of larger groups that do not provide separate accounts for their Scottish operations. Glasgow Academy, which offers bursary places from P7 to S6, gave out 133 subsidised places to families with a joint income of under £65k. It accounts for 15% of the school roll of those year groups. Of those just 26 were full bursaries.This year a key tax-break for independent schools in Scotland was removed after a delay.
Last summer several Scottish private schools – including Gordonstoun, George Heriots and Glasgow Academy – reported an increase in applications. They claimed this were driven by parental concern about the impact of lock-down restrictions, which saw schools close for months during the pandemic. He added: “These are not just schools, and they certainly are not charities. They are profitable businesses which have no need for charitable status and it is absolutely right that we removed one of the tax breaks which came with that status.”Lindsay Paterson, professor of educational policy at the University of Edinburgh, said there were arguments in favour of private education, including the principle that parents should have the choice about how their child was educated.
Steven Dignall, director of external relations for Glasgow Academy, said: “The reason for the increase in net assets is investment gains that were made in this time period. We offer means-tested bursaries which are worth 6.2% of our income.”“We aim to go above and beyond,” added Dignall. “We would like to offer more bursaries but this is restricted by places, and families who exceed the income threshold cannot apply.
Edward continued: “Very few schools, if any, have turned even a surplus over the years of the pandemic and, as not-for-profit registered bodies, they are legally unable to make a profit.
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