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Academy of Contemporary Music (ACM) Reports Loss for Financial Year 2024
The Academy of Contemporary Music (ACM), a renowned music school with campuses in Guildford, Birmingham, and London, has reported a pre-tax loss of £797,474 for the financial year ending August 2024. This is a slight decrease from the pre-tax profit of £3m reported in the previous year.
The decline in profits is attributed to one-off exceptional administrative expenses of £3.5m. These expenses, related to parent company lending, were written off as part of the sale of ACM Guildford Limited on 7 May 2025. The exact details of the sale, however, are not publicly disclosed.
It is known that Doodle Toys, a dormant company, purchased ACM Guildford for £3m. The immediate parent undertaking of ACM Guildford was ACM Education, whose sold director was Richard Connell, CEO of Metropolis Studios. Connell, who was a director of ACM Guildford, resigned in February 2025 but returned when the rescue of the school was completed.
Before the sale, ACM Education owed ThinCats £3.7m. The deferred amount from the sale of ACM Guildford is payable on or before 31 October, 2025. The exact terms of the deal are not disclosed, but it is known that a total of £250,001 was paid on completion of the deal, with the remaining £2.75m deferred for six months.
It is important to note that the search results do not contain any information regarding the Academy of Contemporary Music's financial status, ownership, or sale to Doodle Toys after mid-2024. For the most accurate and updated information, it is recommended to check specific financial disclosures or news sources focused on education or music industry business updates.
The ACM has a rich history, with its studios being used by various renowned artists including Queen, Michael Jackson, U2, Lady Gaga, Courtney Hadwin, Little Mix, Adele, Rihanna, and Lauryn Hill. Despite the financial challenges, the school continues to provide quality education in contemporary music.
Despite the pre-tax loss reported by the Academy of Contemporary Music (ACM) for Financial Year 2024, the school remains committed to providing high-quality business education in contemporary music. This financial setback can be attributed to one-off exceptional administrative expenses related to the parent company lending and the sale of ACM Guildford Limited, impacting the ACM's finance sector.
