The college cites a drop in tuition and funding income and the transferral of students from the liquidated Academy of Live and Recorded Arts as contributing factors to its operational deficit
London’s Rose Bruford College of Theatre and Performance has reported that it is facing ‘financial challenges’. A recent annual report shows the college states faces a deficit of over £350,000, but confirms that ‘careful financial management’ means its cash position remains ‘positive’.
The higher education college in Sidcup reported an operational deficit of £368,234 in its financial report from July 2023 to July 2024, representing a fall of almost £700,000 from the previous year’s surplus of £326,763. The college, now in its 75th year cites a more than £870,000 drop in tuition fees, and funding body grants as a contributing factor to this chance in financial circumstances.
In his CEO’s report for 2023-24, Rose Bruford College principal Professor Randall Whittaker said: ‘This year has been one of transformation and consolidation as we establish the groundwork for a sustainable and ambitious future, guided by our strategic plan, Adventure and Be Bold.’ He added: ‘The College has faced financial challenges, with the accounts showing a deficit for the year. However, our cash position remains positive, reflecting careful financial management and strategic prioritisation of resources.’
As well as funding challenges, the college cites its failure to ‘recruit to target’ for October 2025 as a ‘primary risk’, and points to financial losses ‘in excess of £750k’ following its 2022 agreement to 'teach out' students transferred following the liquidation of the Academy of Live and Recorded Arts (ALRA). Although a new student cohort was recruited for the 2023-24 intake, ‘costs increased significantly, far outweighing the income received’ and all future intakes were ceased.
The report states that Rose Bruford College has ‘reduced its overall cost base’ by reducing staff cost by £295,766 over the year and offers a more positive view of the college’s future, stating: ‘The College is working to reduce its cost base and, where possible, improve income. Budgets for next year anticipate a reduced deficit and a return to a net positive cashflow.’ The report describes student recruitment as ‘key’ to the future financial stability of the college, and places emphasis on ‘attracting talented students globally’ as well as on the college’s ‘ongoing curriculum review’.