2023-08-31-accounts

THE OLDVIC THE OLD VIC THEATRE TRUST 2000 ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 AUGUST 2023 R•gi•tered Charlty No. 1072590 Company No. 03667B22

The Old Vic Theatre Trust 2000 Reglstorod Charlty No. 1072590 Cofflpany No. 03867822 Trustees Tina Alexandrou Sheila Alim Nicholas Clary (Chalrl Pavila Cooper Helen Davi85 Geela Gopalan David Henderson Huw Jenkin8 Peter John Gavin Lewis Annie Pleshette Murphy Secrotary Caroline Barber (to October 20231 Laura Stephenson (from October 20231 R•gl8tor•d Addr•88 The Old V 103 The Cut London SE18NB Ind•p•nd•nt Audltor Moore Kingston Smith LLP 6th Floor, 9 Appold Street London EC2A 2AP Banker8 HSBC Bank PIC Soulhwark 28 Borough High Street London SE1 1YB

The Old Vic Theatre Trust 2000 CONTENTS Page Report of the Trustees Independent auditor's report Consolidated 81atemenl of financlal actlvilles 15 Con801idaled balance sheet 16 P8renl charity balance 8h881 17 Consolidated slalemènl of cash flows 18 Nol88 to th& fin8ncSal 8talemenls 19-43

The Old Vic Theatre Trust 2000 TRUSTEES. REPORT For tho year ond¢d 31 August 2023 The Trustees present their annu81 report #nd consolidated financlal slalemenls of the charity and its subsidiaries for the year ended 31 August 2023 which are also prep8red lo meet the requirements for a director's report, strategic port and linanclal slalemenls for Companies Acl purposes. The financial slalemenls comply with the Chafllles Act 2011, the Companies Act 2006, the Memorandum and Articles of Association 8nd Accounting and Reporting by Charities Stalemenl of R8commended Pracli¢e spplicable lo charities preparing their financial stAtem6nts in accordance with the Financial Reporting S￿ndard applicable in the UK and Irel8nd IFRS1021 (Effective 1 January 20161. obj•ctiV￿ and actlvltl•s The objects ol the charlty, as sel out In the Articles of Associallon, 8re lo promote art, culture and heritage and lo promote, maint8ln, improve and advance education by the encouragement of the arts. The Old Vlc fulfil8118 oblecllves prfmarlly through the operation ol The 01(i Vlc Theatre. Publlc b•n•fit The Trustees always ensufe that the programmes we undertake are in Ilne wllh the charlly's objects and with their powers and responsibilitie8 as detailed in the goveming document and under charity law. In 5etts.ng the charity, objectives and planning ils activities the Trustees have considered the Charity Commission's guidanee on public benefit, including the guidanc8 on public benefit and fee charging. The Iheatrg relies on both philanlhroplc donauons and income Irom lick81 sales lo cover ils operats'on costs., In selb.ng the lev8101 lickel prices the Trustees glve careful consid6rali¢Jn lo ensurlng th9 accessSblllly of the I￿atre. Charlty alms To achleve Ils alm¥ The Old VSC'S oblectlves are.. Artl8tlc.' To secure the identity of The Old Vlc as a ￿$lIte￿I independent theatre and secure Ils Idents'ty os 8 global cultural hub,. an artistic powerhouse with an inlernalion81 reputation and a strong Social mission. Belonglng: To creale a public Space and workplace where everyone feels a sense ol belonglng,. that demographically is more reflecllve of the dlverse community in which we work, our n8llonal reach and our International audience. To ensure that we ale coll8bor8llve, Ihoughllul and inclusive. Dlgltal.. To ulilise the p¢Mer of dlgilal technology lo make new work and re8Gh new audiences, and lo support 811 aspects of the Ihealre'8 work. Eng•gemont'. To engage In person and onllne, through free educallon, communlty 8nd social mobility projects. lo positively Impact life skllls, enhance 8rts and education and increase employment prospects. Sustalnablllty= To revilalise and fulureprool the physical building for the next 100 years, creating a sp8ce that is rnodern. vibrant, environmentally conscious, commercially producbve, non-excludlng, accessible in every sense, available 10 8nd usable by everyong Wellbeing- To contribute, through our work on stage and our leaming and participation projects, lo the wellbeing Bnd health of all who engage with us lo posilivgly impact Ilfe skills, employment prospects and happiness ol all who engage with us- artists, audiences, participants and staff. Page I

The Old Vic Theatre Trust 2000 TRUSTEES. REPORT For th• ytrar anded 31 August 2023 Vlslon and Mlsslon Th8 Old Vic is an independent creative powerhouse for èntertainment and education. A nol-for-profit Ihealre, proud lo be a charity- our m1s510n Is to invigorate, inspire and open doors through world<la55 theatre for all. We believe that theatre makes the worfd better and that anyone should be able lo access and experien¢e11- lo understand It, entertain il and benefit from it. We are uniquely placed lo achieve all of this a5 a large 1,000 seal theatre in the heart of London, locusing on creating equ81 access. We make world-class entertainment on an international scale, reaching audience8 of 350k+ every year through eclectic seasons of work, and 8 further 10,000 through free programmes for engagement, employment and social mobility. Our duality is important lo us. 11 unites us. We're so much more than the work we do on stage. We're about creative excellence and social good. Strategic report The consolidated Slalemenl of FinanGlal Activities is sel out on page 15. The consolidated Balance Sheet is sel out on page 16. Achlavement8 and p•rfomance Following an uncertain 18 monlhs sinc8 po$I-pandemic leo￿nIng, this Season demonslraled 8 gignrficanl shlfl in audlen¢e behaviour with new and existing patrons vlsiting the theatre in pre-pandemlc numbers. Although booking behavlours were altered, wllh people booking much later than pr&vioLtgly, il was encouraglng lo see audiences back in such high numbers. The Season comprised of new writing. tsvo large 8cale musicals and famlly shows and closed having achieved the highest fi'nancial and seated capacities on record - 920￿ seated and 85Vo financial. This was achieved despite a number of cancelled performances on every show due lo COVID-19 or illness within the company. To open the season Eureka Day. a co-production with Sonia Friedman Proijuclions and wrillen by Jonatha Spector, was a European Premiere. A timely and hysterical comedy, where polite debate descends into ideological warfare, 8s a demo¢ratlc utopia lears itself apart, The production receSved good revlews and 8tsrred Academy, Golden Glob8 and Emmy Award winner Helen Hunt (As Good As11 Gels, Mad About You) and wa8 directed by the Old Vi¢ previous Ba￿lS Director Kaly Rudd (Camp Siegfried, The Ocean al the End of the Lane). A Chrislmas Carol returned for its sixth year, starring Owen Te81e as Scrooge. The production beal every pre- pandemic sales record for Ihe show and reached a financial capacity of 990/0 and sealed ¢apa¢ily of 960h. Kate Prince's Sylvia returned lo The Old Vic stage following its 2018 run as 8 work-in-progress, unlllng dance, hip hop, funk and soul lo shine a light on a remarkable moment in history, wilh original music by Josh Cohen and DJ Walde. The show received strong reviews, an Olivier Award nomination for Best New Muslcal and an Olivier Award win for Best Supporting Actress in a Musical for Beverley Knight. Groundhog Day the musical played for 13 weeks and became the hlghesl-grosslng Old Vic production in history. with fantasti¢ reviews and more than 90,000 people having seen the show. Returning after the success of the world premiere run in 2016. when il won Best New Musical al the Olivier Awards, The Old Vic are working with partners on a Wesl End and International future life for the show including Melbourne 2024. Page 2

The Old Vic Theatre Trust 2000 TRUSTEES, REPORT For the y8ar ¢nded 31 August 2023 Mog was a CO4production and adaptation from The Wardrobe Ensemble of Judith Kerr's beloved and iconic Stories for the stsoe. The show ran for three weeks following a lour and sal undem8ath Groundhog Day in the morning and afternoons. 11 was a delight to have some of The Old Vic's youngest audience5 in the building. The show was well received and went on lo 8 run al the Edinburgh f8Stival. The Old Vic provided financial support lo th55 show, demonslrallng our c¢mmitmenl to growing tha audiences of the future. Bulldlng ProJ•ct and Capltal Campalgn Ba¢k of Houso Upgrad Conslruclion on the Back of Hous8 Upgrades phase of the project slart8d in July 2022, and ran for the majority of this flnanclal y6ar, completing in July 2023. During this period, show running staff were housed in temporary facilities in 131 Walerlw Road, and In portacabins on Webbor Sirgel. The Back of Hovse Upgrades have delivered,, Step free access to Stage Door alongside improving access lo BOH areas. New enlarged BOH lift ¢3r, platform Enhanced Sl8ge Dcor facllilies and walcome area. Increased dressing room provisione and Inlemal ramps. New %theelchair accessible dressing room with loileV5hower and direct 81epfree acce68 to Stage. New dressing rooms with ambulant accegyible loilelslshowers. Provision of wheelchalr accessible loos, ambulanl 8ccessible100g and wheelchairacce88ible shower8 lor staff and a Space for Change (accessible lo the publlc once the Backstage Building is complèlel. Step free a¢¢e85 lo the Rehearsal Room (via the Back81age Building}. Better use of natural light In dre551ng rooms. BKk•tag• {Forn)•rly Th• Ann•xl Duiing IhSs year, plannlng pr¢>Jressgd for the B4ck8tag8 bullding. In Dec8mb8r 2022, Sl8ge 4 deslgn wa8 completo and planning permissions grantod. In March 2023, the new name for The Annex was Qonfirmed gs 8ackslag8. The project went lo lender dudng Ihe ygaf - funds are In place lo complete th8 projecl through ralsed lund8 and a loan facility of £7,5m from Lambelh and S¢ulhwark Councils. Although we have now closed the funding gap and achl8ved the prewconslruction fundbng milestone, we conlinue to fundraise lo avoid drawlng down on the loans and Incurrlng Inl8r8$1. Tho project broke ground In Spilng 2024 with opèning planned in late 2025. Pa8e 3

The Old Vic Theatre Trust 2000 TRUSTEES. REPORT For the year ended 31 August 2023 Education and Communlty our Education and Community programmes are central lo our mission lo invigorate. inspire and open doors through world-class theatre for all. Our programmes focus arouné three strands. community, emerging talent and schools reaching over 6,200 participants accross the year. As we look ahead lo opening Ihe Clore Learning Centre in the BaGkstag8 building, where funding has been secured, we are starting lo pilot new projects. OV Theatrg Makers is a free six-month programme for 1&25-year-olds offering participants opportunities to develop creative connections and create a loolkil lo discuss and make theatre in the midst of our changing society. The 2022-23 project involved working with 20 young theatre makers through a series of workshops and maslercla5ses. Wilh the support of a professional director, participants conceplualised and planned the lure of theat￿ alongside olher young creatives. working in collaboration with some of the UK'S leading professional theatre makers. The prole¢l ￿lminated in a scratch performance al Slre8th3m Space Project in Februarv 23. Front Lln• al The Old Vic gives paid pl8cements in our Front of House teams to young people aged 16-25. Through creative wolkshops arKI working alongside our staff, participants gain vital on-the-job learning opportunitie5 and are supported lo develop key employability skills lo aid their fLJlur8 careers. Since the project began in 2015. wo have worked with 267 young people, making Front Line one of our longest runnlng and most successful projects. Front LSne Lamb•th 15 open Ic young people from Lambeth aged 16- 30. The programme ran in Summer 2023, offering paid placements al cultural organisalions across Lambelh, including Soulhbank Cenlre. Slrealham Space Project. Beacongfield Contemporary Art, Black Cultural Archives, The BFI, The Migration Museum, The Afrlca Centre and The Old Vic. As well as on the Job training, the programme included a CV workshop, exploring the gkills participan15 have developed and how lo apply them lo next steps. In addition, participants benefited from a networking sesslon with induslry profes81ona13 and prospective employers. OV Facllltatorn is our hlghly successful creative practSlloner programme for people aged 18+, offering aévan¢ed hands-on experience in ¢realive facililalion and the chance lo develop key transferable skills. Tho programme aims lo give participants with no or limiled experience in facililaling the 5kllls and experiences to help them with their next creative steps and connect them lo networks enabling access lo job5 and creative opporlunilies. Over 12 sessions, participants experlence practical facililalion training from The Old Vlc Education & Community team and guest creative practitioners as they learn about éiffer8nl workshop dellvery oraclices. OV 8ack$tago offers paid placements on an Old Vic production lo six I￿25-Year-oldS from underrep￿Sent8 background5 in the arts, Participants shadow an industry professional across 15 paid sessions. galning hands- on experience across a range of disciplines such as co8lum8. production management, $81. and stage management. The project culminale$ with a nelworking session lo help participants lake the next steps in th8ir careers. OV Playwrlghtlng was a training programme led by playwright Ella Hickson lo encourage writers lo think big. Six emerging writers aged 18+ look parl in eight Iwo-hour sessions ex￿orIng how lo write for big stages. The programme involved studying existing plays, debating what makes for a brilliant big play, and creative writing exercises aimeé al developing dramalurgical skill. This professional development course supported WTilers who were comfortable writing al a fringe level lo lake the next slop in their career and write a play suitable for a big stage. One Volce: Whose Planet Are You On? includes newly commissioned monologues from three of our Education & Community p?rti¢ipanls, ￿0 were mentored and SLJpporled lo dèvelop their writing, alongside four monologues WTitlen by professional wrfters that were originally performed on The Old Vic stage in 2022. Page 4

The Old Vic Theatre Trust 2000 TRUSTEES. REPORT For the year ènd•d 31 August 2023 OV Connect brings together our programme and production alumni, inviting them back into our iconic building for ongoing arlisl d8velopmenl. £10 tickets lo shows, access to bespoke panel talks, debates and ¢￿ative insights, new work development and collaborative plarforms. SGhool$ Club aims lo offer secondary schools across London supported access lo Ihealre. It is Intended lo develop confi'dence in drama skills for 14-18-year-olé students and their teachers, along with an uplift in ￿gard for drama in schools and an uplift in students studying drama in schools. 40 schLK)15 are invited lo lake parl in this free project, and are offered four performances, four slud8nl workshops, and four Continuous Professional Development se$sbns for teachers over one academic year. Take the Lead is a free programme for 5tuden15 in Years 11-13 that uses theatre techniques and creative workshops lo develop five core skills that support employabllily and social mobility.. 98lf-b81i8f. Communication, teamwork, problem-solving and 5elf-managemenl. The programme works with up lo 40 groups across London and supports students lake their next steps into the world of work or higher ¢du￿110n. Work Experl•n¢& supports 40 young people aged 14-18 per year to discover h¢)w a producing theatre operates, meet industry professional$ and find out more about careers in the arts, through an inleracllve week experlen¢ing workshops and maslerclasses ￿th Old Vic staff and facilitators. Prlmary Tako tho Lgad 15 Part of a new pilot of primary programmes for The Old Vic. 1118 a free project running in London slate primary schools for year six students, aged 10-11, The project draws on The Old Vic's expertise as a theatrical institution to support young people's development and to lake ownership over their next slaps, including Supporting them with th& Iransillon from primary10 secondary education. Using th88lre lechnlques and drama praclises the prolecl enabl85 students lo develop five core Skllls.. sell-b81ièf, communicallon, teamwork, problem-solving and $etf-m8nagemenl. 12 Cholrs of Chrl8tma8 happens every December %then we open our theatre to bring together older people and young performers from the local community through a serles of free Garol concerts. 12 local London primary school choirs are partnered with 12 community groups, forming cholrs, and joining u5 in our foyer lo perform lo Ihe local community giving part￿CIpanI8 and re5idenl$ young and old the chance lo meet, connect and 8njoy a shared experlence. Matlngo Idols has been sel up lo create opportunilles for The Old Vic to engage locally with people over 50, making theatre more accessible lo those from a diverse range of socio-economic and ethnic backgrounds. For participants the aims are for them lo connect wlh others. reducing feelings of isolation and loneliness, and lo learn new skills. CommunSty Club, previously known as Curtain Up which, since 2019, has worked wllh community groups with limited acces5 lo the arts, providlng them wlh four free theatre tickets, free drama workshops and bespoke access support. Through Ihis project The Old Vic is commilled to removing barrier5 which may ordinarily exclude people from accesslng theatre. The Long COVID W•llno88 Pro1￿t invesligal8d the ben8fils of engaging with the arts lo support those with long COVID-19. This rese8rch-based, parlicipalory creative intervention worked with specialist movement and voice practitioners to create a six-week programme working with 20 adu115 with long COVID-19. Th8 weekly sessions focused on using movement, brealhing and theatre techniques lo support symptoms and wellbeing and were run both online and in person. Page 5

The Old Vic Theatre Trust 2000 TRUSTEES. REPORT For th• year ondod 31 August 2023 Future Plans and Objectlves We enter Season 9 with another strong year of programmino ahead. The FY 2023124 budget has been pul together against our Strateg￿ aims lo deliver our mission lo invigorate, inspire and open dooTS to adventurous theatre for all, The budget is based on the following financial commilmenls.. We will deliver five world class productions on our stage. - We will Continue our Education and Community programme al current levels, which is funded entirely through donations. We ensure we have accesslble pricing (both via the £10 PWC Preview scheme and with approximately 400 of the house available al £44 or less). Commencing construction of the Backstage building. We will continue lo be a London Living Wage employer. We ￿lCOme the support provided by Governm8nl lo the arts sector by the permanent change lo the rates of Theatre lax reliefs. This wll allow us lo continue to Invest in ambitious programming and our extensive education and communily work. Major financial challenge$ remains with Inflatlon. cost ol living crisis and Ihe need lo Invest in the infrastructure of the bullding. The Old Vic eslimales a £20m+ programme of capital works are required lo main18in and advance the Grade11 listed building over the next 20 years.11 remains a challenge lo create a robust financial model that would fund the capllal expendlture requirements. Thls 1$ 8 simllar po$illon to many others In the industry. Moving the theatre from a budgeted operating deficit posilion lo break even is a slgnSflcant achievemenl. and we owe much lo the dedication of our staff in helping us lo deliver this. Th8 Board, alongside the management team wll continue lo work lo tackle the oulslanding financi81 challenges whllsl looking ahead lo expanding the OP8rating model from 2025 with the new Backstage building. Page 6

The Old Vic Theatre Trust 2000 TRUSTEES, REPORT For the ￿ar ended 31 Augu•t 2023 Flnaneial Rèviow 11 has been encouragSng seelng 8&81ed and financlal capBcily levels Incwaslng compared lo 2022. The strength of our prograrnmlng and retum of audienc88 po81 pand8rnic boosted both ticket and commerclal Incom8 vAth overall Income rising to £21.2m12022.' £13.6ml. We 8re a180 grateful to our donors for thelr continuing generosity In support of productions, our Educatjon and Communlty work and the capital programmg of works on Back ol House facilities and Backstage. With the Ihealre retuming to eapacity, the scale and ambition of th8 fu11 scale productlons and includlng funds received for the capital project underway, expenditurè increased Irom £14.4m lo £22.4rn ￿sUlting In a ngt surplus lor the year Bfter theatre lax relief of £1,245k12022.' surplus of £448kl. Th8 ongoing operati'ng budget excluding capital furKJr8ising income is currenuy planned lo return lo break-even lor 2023r24 Mth costs well controlled and supported by Ihe81re tax rellef. At 31 August 2023 ¢8sh at b8nk was £9.Om12022.' £12.3ml. r8pr8senb.ng a £3.3m reduction durfng the year drlven by a cashflow in from operBtlonHI actlvlly of £2.3rn, a spend of £5.4m on CApi181 inv851m8nt in the Back of House faclllli&s in Ihe Ihe8tre ancl £0.1 m in loan interèst. The balance $h881 continues to carry a commercial mortgage from HSBC. an unsecured108n of £1m and a £2.5m loan on standard 18rm8 Ir¢m the Arts Council's Cultural Recovery Fund. No new bank loan8 wer8 tak8n on during the year. R•8•rv•s pollcy The Trustees are awa￿ of th8 no8d lo hold free reserves198nar81 fund81 and have 8511rn8led th8 level of free resgrvgs the charlty wll need over th8 next fin8ncial y88r. The Old Vic remains reliant on thè su¢¢g$8 of the th88lrlcal production8 for a $ub8tonti81 proportion of ils income Ihrough tick8t 88le8 8nd aBsoci8led bar and food sales. The Truste88 conslder that the most approprt8le level of free reserves al year end 18 £2.4m lo Support lrnme¢Ji3le need for funds andlor ern8rgency bullding repalrs. Currant frge ffj8eNes 918nd al £3,9m. The Tnjsteos conslder il 18 necessary lo hold a higherlgvel ol free re8orves lo enable th8 the8tr8 to contlnue to oper8le in th8 future givon historlc high16v81s of Inflauon, a co8t-of41vlng crisls, th& ffinanclal and Supply ch8Sn risks associated with capital building projects. Golng concorn Having revlewed the ch8rlty'8 financial forec8sts and éxpected lulure cash flowB, tha Tru8te•s have o asonabl8 expeclatlon that the chadly and group have adequate resourc88 to conllnue In oper81ional exlslence lor the forese8ablè future. On thls ba￿8 the going concem ba81s haB been adopted in preparlng Ihg financial 618ternenls for the yo8r ènd8d 31 August 2023. Prsnclpal rlsk8 and unurt¥lntl•• Rl•k Managoment 8tst•m•nl: The Truste88 have established th8 major stral8gic, buslness 8nd oporalion81 risks whlch th8 charity faces and con￿rM that gyslems havtr been estsbllshed to onable regular reportB lo be produced so that any nec8ssary $18ps can be lak8n to lessen Ihe rl8k8. Page 7

The Old Vic Theatre Trust 2000 TRUSTEES. REPORT For the year ended 31 Augu8t 2023 Our overarching risk framework is as follow5. 11 is applied, managed and revi8wed by the governan structure below. Risk policy.. sets out appelile for rlsk and risk management process Idenlificalion and assessment of ri5ks'. captured in the risk register, managed by General Counsel, overseen by Board Finance & Risk Committee l FRC") Evaluatlon of aclion lo be taken on rlsks.. captured in the rlsk register Periodic monitoring and assessment Risk management slatemenl.. sel out in the annual report and approved by Trustees annually. The FRC has delegated authority from the Trustee8 lo ensure that major risks are regulady and propedy identified. The implemenlalion of any necessary miligalion measures approved by the FRC is delegated lo management to implement in accordance with the Delegated Authorit￿$ Policy. Prlnclpal Rl•k8.' Key risks currently facing the organisalion can be summarised as follow8.. Rl¥k Mltigation maasures Realistic budget and Ihree-year business plan,. contingency sel aside,. SOLT and other industry data sharing.. weekly sales report and tracking,. active marketing and press campaign Introduction of Production Rlsk Managem6nl Framework.. èquip staff lo identify possible areas of risk,. communication response plans in place Inflallon and c081 of livlng crisis affects box office sales leading lo curtailment of operations and expenditure cuts Adverse publlcily n8gallvely Impacts reputation Costs arising from introduction of Prevent Duly (likely 2024-SI Horizon-walching and planning,. ongoing dlscussions re.. funding for hostile vehi¢le miligallon measures Eslablishmenl of Suslainabilily Committee and new Suslainabilily Pollcy,. constant review of largels., guidance from Julie's Bicycle,. architects selected for suslainabilily credentials,. horlzon $¢anning for affordable renewable ener Costs arising from en8urirKJ existing and new premise8 are 8$ environmentally sustainable as possible Malerials shortag8s. delays and price increases arising from combination of Brexit and COVID-19 Fa¢lor into production and capital budgets and timelines Energy suppliers have been contracted al a fixed iariff for the next two years,. review of energy usage in the bullding Increase in energy prices affecling overheads Buildings insurance cover affected by building works., premiums andlor sel lo increase Ongoing close liaison ￿th insurers regarding mitigation required to improve excess levels Fundraising All fundraising on behalf of the charity is undertaken in-house and we do not have any commercial participation arrangements. The charity subscribe5 to the Fundraising Regulator and there have been no instances of any failure lo Comply with fundraising standards. Fundraising acllvity 1$ governed by a detailed Donations Aeceplance Poiicy and monitored by the Donations Acceptance Committee which comprises a mixture of Trus18es and management. Page 8

The Old Vic Theatre Trust 2000 TRUSTEES. REPORT For the year ended 31 August 2023 We only communicate with donors or prospects who have opted in to communicalions and email approa¢he$. The charity has a rigorous sel of data protection policies and guidelines (reviewed yearly), and staff are required lo undergo éata protection training upon induction and every two years. There have been no fundraising complalnls in the year. Investment powers and pollcy Under the Articles of Asso¢iallon. the charty has the power lo make any investment which the Trustees see fil. Structurol govomanca and manag•ment The charity is a company limited by guarantee and was sel up by memorandum and articles of assoclalion dated 10 Novernber 1998, None of the Trustees have any benefi¢lal Interest in the company. The liability of the member8 Is limlted to £1 upon wlnding up. The Trustees, who are also Ihe dlrectors for the purpose of company law. who served during the year were.. T Alexandrou S Alim R A Bourne Ireslgned April 2023) N J Clarry (Chairl P Cooper H Davies lappolnted Junè 2023) G Gopalan S A Greene (resigned AprS120231 D Henderson J H G Jenkin8 PCJohn G Lewi$ A Pleshette Murphy New Trustees undergo an orlen181ion perlod lo brief them on their legal obligations under charlly and company law, the conlenl of the Articles of Associallon, the committee and decision-rnaking proces5e8, the business plan and recent fillancial perfomianc8 of the charity. During the induction period, they meet key employee5 and other Trustees. Trusle8s are encouraged lo allend appropriate external events where these will facililalo the undertaking of (heir rol8. The Trust is governed by a Board of Truslees of up to fifleen members. plus two observer Trustee8, who meet regularly. There is a Finance & Risk Committee dealing with finance and risk. The day-to-day operations of the charity ar8 managed by a rnanagemenl team with delegated authority from the Trustees, lo whom il reports. The charity has two wholly-owned subsidiary companies. registered and operating in England and Wales as follows.. The Old Vic Theatre Company (The Cull Limited - commercial trading activities The Old Vi¢ Services Company Limrted- theatre produc￿'on All available profits of the subsidiary companies are grfl aided to The Old Vic Theatre Twsl 201J) by a grfl aid donation which 15 paid in the followng financial year. Please refer lo nole 22 of the financial slalemenls for further information including the results for the year under review. Page 9

The Old Vic Theatre Trust 2000 TRUSTEES. REPORT For the year ended 31 August 2023 In the final slep toward simplifying the Trust's corporate structure. we wound our subsidiary The Old Vic Theatre Limited (commercial trading aclivilies) since il was not currently trading and had not traded during the year under review. This work wa5 delayed slightly bul completed In February 2023. Audltors Moore Kingston Smith LLP were appointed as auditors lo the company and in accoft¥ance ￿th se¢lion 485 of the Companies Act 2006, a resolution that they be re-appointed will be pul al a General Meeting. Oisclosure of Inforniatlon to audltor8 Each of the Trustees has confirmed Ihal there is no information of which they are aware which is relevant ID the audit. bul of whl¢h the auditor is unaware. They have further confirmed th81 they have taken appropriate steps lo identify such relevant information and to establish that the auditor is aware of such information. Statoment of Tru8t8è8' Rosponslbllltles The Trustees (who are also directors of Tha Olé Vic Theatre Trust 2000 for the purposes of company lawl are responsible for preparing the Tru51ees' Report and the financial slaternonts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Company law requires Iruslees lo prepar8 financlal slalemenls for each financlal year whlch give a true and falr view of the slate of affairs of the ¢harilable group and company, and of the incoming resources and appli¢alion of ￿sourCeS, including Ihe income and expenéilure. of the eharilable company for that period. In preparing the financial statements, the trustees are required lo., select 8uilable accounllng policies and then apply them consislenlly.. observe the method5 and prlnclples in th8 Charities SORP.. make judgements and eslimale8 that are reasonable and prudent-, slate whether appllcable UK Aecounling Standards hav8 been followed. Subject to any material departures disclosed and explained in the financial slalements,. and 5. prepare the financial slalemenls on the going concern basi5 unless it is inappropriate lo presume the charitable company will conllnue in business. The Trustees are responsible for keeping adequate accounllng records that disclose with reasonable accuracy 81 any lime the financial position of the charitable company and lo enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the charitable company and hence taking reasonable steps for the prevention and detection of fraud and other Irregularities. On behalf of the board of Trustees N J Clarry- Diroctor and Trustee {Chalrl Dale-. Page 10

The Old Vic Theatre Trust 2000 Independent Auditorfs Report to the Members of The Old Vic Thoatrg Trust 2000 For the year gndgd 31 August 2023 Opinion We have audSled the financial statements of The Old Vic Theatre Trust 2000 and ils subsidiaries for the year endèd 31 August 2023 which comprise the Group Slalemenl of Financial Activits'e5, the Group and Parent Charitable Company Balance Sheets. the Group Cash Flow Statement and notes lo the financial ststemenls, including a summary of signiflcanl accounting policies. The financial reporting framework that has been applied in their prep8rallon is applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice) including FRS 102 'Th& Financial Reporting Standard Applicable in the UK and Ireland,. In our opinion the financial slalemenls.. Give a true and fair view of the Stale of the group's and the parent charitable company's affairs as at 31 Augusl 2023 and of the group's incoming resources and application of resour¢es, including Ils income and expenditure, for the year then endeé.. have been pmperly prepared in accordance ￿￿th United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance wllh the requiremen18 of the Companles Act 2008. Ba818 for oplnlon We conducted our audit In accordance with International Siandards on Auditing IUKI IISA5IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audil of financial slalemenls Section of our report. W8 are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'5 Ethical Standard, and we have fvlfilled our other ethical responsibilities in accordance with these requirements. We believe Ihal the audll evidence we have obtained is sufficient and appropriate lo provide a basi5 for our opinion. Conclujlons relatlng to golng conc•rn In auditing the financial 51alemenls, we have concluéed that the directors. use of the going cnncern basis of accounting in the preparation of the financial stalemenls is appropriate. Based on the work wo have performed, we have not idenirfied any material Uncertainl￿S relating lo events or conditions that. individually or collectively, may cast significant doubt on the group's and parent company. ability lo continue as a goin9 concern for a period of al least Iwelve months from when the financial slalemenls are aulhorised for issue. Our responsibililles and the responslbililies of the director5 wlh respect to golng concern are de$¢rlbed in th8 relevant sections of this report. Other Informatlon The other Infomalion comprises the information induded in the annual report, other Ihan the financial statements and our auditor's report thereon. The Iruslees are responsible for the other infomialion. Our opinion on the financial slalemenls does not cover the other information and, except lo the extent otherwise explicitly slaleé in our report, we do not expre55 any form of assurance conclusion Ihereon. Our responsibility is lo read the other infomiation and, in doing so, consider whether the other information is materially inconslstent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslatemenls, we are required lo delermlne whether this gives rise to a malerial misslatemenl in the financial slalemenls themselves. 11, based on the work we have performed, we conclude that there is a material misslatemenl of this other informatlon, we are required lo report that fact. We have nothing lo report in this regard. Page 11

The Old Vic Theatre Trust 2000 Indopend¢nt Audhorf5 Roport to the Mgmbor¥ of The Old Vlc Th••trn Trust IGontlnu•dl For the year andod 31 August 2023 Oplnlons on oth•r mattern welcrlbed by tho C+Jmpanlis AGt 2006 In oureplnbn, basell on Ihevrk ulldgrt8kw In Ihe course of ￿e 8u¢JII". the infDFmabon gfven In the Iru$lee6' 8nnual raport lorthè finan￿81 ye8r fOr￿1¢h Ihe flnwdil 61•tements &re prepared 1$ Gons151enl wlh the finaroal s￿￿en[S.. and the ItUslee5' ￿nr￿al report have been pF8p8red kn accordance 1lh oppllc8blè legal mqulrements. Matt•r• on whlch we ar• reoulr•d to r•pvrt by•x¢optlon In th¢119hl ol the kThy¢lwJge and underslandinG ol Ihe grLW 8nd p8r8nl th8ri1Bble company and 118 onvironment oblBined in the COLwse of the audit. we have not Identified malenal ml8618lements ITh the Iruilee5' annual report. Wt have nothing ¢0 report in resF¢GI of ihe folknlng malters ¥thera th8 ComynièsAcl 20Ce rwulrn¥ u5 to report lo you W. in our0￿nIOn.. the p8rent Charitab￿ company ha5 ￿1 kepl ad6qU818 suff￿8n1 Acc￿n￿￿ recards, or relums •JwJol• for cur audil rrf)I been received from brancts not vlsiied by u$, or the parenl ch•rtl8bl8 companW8 nnanclal $18lemenls are not in aBrepmeThtwtth the 8ccoUn￿￿9 records ond relums., or certoin disdosumi of Iru8le•B' rèmuneritson EpEcrfied by law aro nol made,. or we have not r8calv•J all ihe Informalon and oxpl8nalionF ￿ requlre for our a¢AII,' or Rup0￿1￿11111•1 ol tru•ts Aa eNwlained fflore fulty In Ihe Irv8tee1' responsi￿111￿6 slat6ménl out on P8oe 8. th8 trustèes1￿0 ara 8Iw the direthm of th8 chèrfiablts compBny fol Ihe purposes ol company lawl 818 respon8lble forlhè prep8raiion ollha fimnclal s18terngnls ond for being sa115fig( fvl Ihfjy givo a Irue and falr vlew, and lor Such Inlgrnal wnlrol 45 the Iluslees ibie￿I￿9 Is necessary lo ena￿8 tho p￿￿r#I10Th ol fl￿￿181 81818menl8 Ihal af8 1188 frtyn MI&&￿tament. ettt8rduo lo IrB¢&Y or orror. In prep•iing the flnanci8I siaitmenii, Ihe Iruslees ire respon￿1￿• for a5SO•8ino Ihe oroup and parent eh81Slabla company, ablllly lo conllnue 88 a golng concern, dlRclosln9. as 9ppI￿Ab1e. maller5 refaled lo concern and uslng Ihe golng concem b8818 ol accouniing un18SS Ih8 i¢u$iw 8ilher Iniend ￿ I￿Uldate Iho greup or parnni Chart18b￿ company or to c•8se opèf8110rt9, or havg no wli$tic @I￿rnAtiVe bul lo dD So. AudIto￿l r•¥pon•llJllltlM lor th• audll ol Ihe fln4nclal Blat•m•rbts Our ob)8Cllves 8re 10 obiain reawnoble 8ssur8nce 8boul whether the15nt￿al 8tai8m6n18 as a fi018 8r• fr80 from m•t•rfal mi1118itrmtsni. theihor duo lo fraud or error, and lo 168u8 an audllOf'É fQPOrt Ihai I￿￿￿t• our 0￿rA0￿. Reaionible aalu14n￿ I 8 hl9h bvei of ostur#nr, bul Is not a ouarantee Ih81 an audll conducted in accordarKe wlth ISAJ IUKI VAII DI￿y5 dolecl mHledg1 rnis$1glwonl when Il exists. Ml$8t8lemeni8 can afiae from fr•ud or Offor ond gr0 ¢¢n$KJoffjd m•itrrial if. in¢Jwidully or In gwregale. Ihey could reason8bly be oxpecled 10 knfiuan¢6 econtsmic de¢lslon$ of u38rs t8ken ￿ the ba815 of Iheso A¥ port of an audit In accordarrta ￿lhI5A& IUKI •xerci30 yol•sslonaliudgemonl and Mainla￿ prole881￿81 8cepkn'o8rn Identify ond 889888 Ihe risks of maleTial TrTr1551alefflenl of Ihe Iin8nclal slelem8nis, tltt8r due lo Ira￿j er errcrf. degn and perform audll pfoc8du￿S rtr$pon$iYg lo those rlsk5, and oblaln audll evidence Ihai Is sulficlenl 8nd 8pproprio18 10 provid8 a basi# for aur O￿TrI0￿. The nsk of noi deleciing a malanal mlssiai8moni resulliry from fraud Is higher Ihan lor onè reju1￿￿9 froffl error, 0$ fraud may Involve collusion. fuoery. Inlenlional omifson&, mwtpré&enl81ioni, or Ihè o¥¢rndÈ ol iniem81 control. otyiain underslsnding of Intem81 conirol ￿￿¥8Tht lo the audll in ordèr kn de￿9n audit procedures IhBI are approprl81• In the clrcumsLgnc8s. bul not for Ihe pur￿￿ or•xwe$￿￿g an o￿nIoN Iho off•¢iivono$$ of Iho gthp Ind pwrenl tharilable cornp8ny'6 Inlern81 control. Evaluale Ihe approprk•ienes801accounling u$0u arf tho r•as0naN￿￿￿ ofattounllw 8sllmale5 and related d15ckJ8ur8s made by the trusi80$. Conclbde Dn the appropnalenas5 of tho IFusieeB' use of the f olrva con¢em b•th of arxl, ba8ed on the dudil eviderKp obtained. ￿ther o material uncertainly exi815 re181Bd lo events or t￿￿1110￿3 th81 ￿51 Svdnrf￿￿￿I doubt on the group and pa￿nI ch•nl8ble company's abilily Iv continue as a g(Hng crfficeln. If we condude that a rn•lerl81 uncert8lnly e¥i%lB, wo are requlred 10 draw aiieniion In our oudlt¢X'5 report lo the related disdo$ure6 in Ihe fin3nciBI 8lalemani$ or, If such dlsciosur88 InadBquale. lo modily our otynlon OurcorKIu8ions 8r8 based on the 8udil avklence oblBined up lo Ihp dale of our •udilofs report. However, fulure events or condition5 may cause the gTOVP or pErenl charitable company lo cease lo continue as a ¥h)Ing concern Page 12

The Old Vic Theatre Trust 2000 Independent Audltorfs Report to the Memb¢rs of Thg Old Vic Theatre Trust (Contlnued For the yoar ondod 31 August 2023 Evaluale the overall presentation, structure and content of the flnan¢lal slalements. Induding Ihe disclosures. and whether the financial slalements represent the undedwng transactions and events in a manner Ihal achieves fair presentation. Obtsln sufflGienl appropriate audit evIder￿e re9arding the financial informallon of the entitles or business activities wlhin the group lo express an opinion on the consolidated financial stalemenls. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsibl8 for our audit report. We communicate wlh those charged with governance wgarding, among other mallers, the planned scopè and liming of the audlt and significant audit findings, including any significant deficiencies in internal control that we identrfy during our audit. Explanatlon a8 to what Oxtont th• audSt was ¢on8lderod capable of detectlng Irregularltles. Includlng Irregularilie8, including fraud, are Instance5 of non-compliance with laws and regulations. Vve design pro¢eéures in line with our responsibililles, oulllned above. lo delecl rnalerial mis31alemenls in respect of irregularities, including fraud. The exlenl lo which our procedure8 are capable of delectlng irregularllles, including fraud, is detailed below. The oblecllves of our audll In resp8cI of fraud, are,. to identify and assess the risks of malerlal mlsslalemenl of the financial statements due lo fraud., lo obtain 5LJfficienl appropriate audit evidence regarding th8 assessed risks of material mis51alemenl due lo fraud, through designing and implementlng appropriate responses lo those assessed risks,. and lo respond appropriately lo Instances of fraud or suspected fraud identified during the audll. However, the primary r85ponsibilily for the prevenllon aThJ dele¢llon of fraud resls with both management and those charged with governance of Ihe company. Page 13

The Old Vic Theatre Trust 2000 Independent Auditofs Raport to the Members of The Old Vic Th•atrn Trust (Continued) For th• y￿r ended 31 August 2023 Our 8pproa¢h was as follows.. We obtsined an ur¥Jerstanding of the legg1 r•gLJlatory requirements applicable lo the company and consid6rod that the most swnificant are the Companies Act 2006, UK lin8ncl81 reporb'ng slarKlards as issued by thè Flnan¢io1 Reporting Council, and UK taxation legislation. Vve obtainod gn under8t8ndlng of how the cornpany complies ￿th these requiremonts by (iOs¢u$sions with rnanagemenl and ihosg ¢horgwJ with govem8nce. W• 8s5èssed the risk of rnalerial misstatem8nt of the fin8nci81 slalemonls, induding the risk of material misstatem•nt due lo fraud and hcwl it might occur. by holdlrYJ di5GUSslons ¥￿th managèmonl and those charged with governane•. Vve iThJuired of management ond those ch8rgèd with governance as to any knoMI Instr￿eS of rK)n- compllanco or 8uspecled non4ompllgn¢e MAth18ws 8nd ffjgulation8. 888ed on this understondiro. we d89I9n8(J speryfic appropriate audit Proceduies lo identify instanc&g ol non-compliance wlh18ws and regulations. This included making enquiries ol management and those char9ed wlh 9ovemanc8 8nd obtsinlng additional oorroboralive evidence 88 wuired. Thore ar¢ Inherent limitalions In the audlt procedur8s dascrfbgd abov8. We are le88 Ilkely lo become oware of Us• of our r•port Th1$ rgport 1$ m8d8 801ely lo the charitable company's rnembars, body, in accordance with Chapter 3 of Part 16 01 the Companlgs Act 2006. Our 8udit work has been undertoken so Ihot we might 318le lo th8 ch8ri18ble companYs rnemb8rs thosg m8tters 5%4)Ich we are required lo state to Ihern in an ouditol$ report and for no olh8r purpo88. To the full86t extent pemllt8d by18w. ￿ do not 8c¢epI or a3sume responsibility to any party other than tho ch8ritsbl8 company and chafllable companys mombèrs 88 8 body, lor our audit wcfk, for thls report, or for the oplnlons we have fomed. K, fuL LCP Jam•s Cros• IS•nlor Statutory Audltorl for and on behalf of Moor• Klng•ton Smlth LLP Chart•r¢d A¢¢ountant¥ St•tutffji Audltor 6th floor 9 Appold Street London EC2A 2AP 20 May 2024 Page 14

The Old Vic Theatre Trust 2000 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT For tho year endod 31 August 2023 Restricted Unrestricted Funds Funds Total 2023 Total 2022 Note Income from: Donations and legacios 4,118,743 2,029,798 6,148,541 5.809.344 Charitable activities Operation of theatre 12,075,593 12,075,593 6,727,754 Other trading activities Commerci81 tradino oper8bons 3,348,116 3,348,118 1,080,082 rotal Incom• 4,118.743 17,453.507 21,572.250 13.617.180 EX￿ndItur• on: Raising funds Fundr81slng co818 Commerclal trading opgr8llons 325,588 191 1.111,418 2.750,946 1,437.004 2.751,137 819.726 655,455 Chgrllabl8 8clivllles Operation of IheAlr8 Educauon Bnd communlty progr8mm8 507,715 708,536 18.741,706 107,168 17,249,421 815,704 12.164,066 599,861 Interest pay8ble and slmllAr thorg8B 185,859 185,859 119.826 Total Exp•ndltur• 1,542,028 20,897,097 22,439,125 14,358.934 N•t Incom•1 {•xpendltur•l 2,576.715 13.443,590 1866,8751 {741,7541 Olher recognised galn8- theatre lax rellel ond deferred lax 2.112,410 2,112,410 1,189,667 Gross transfers betsveen funds 18 13,705,960> 3,705,960 N•t mov•m•nl in funds 11, 129,2451 2,374,780 1,245,535 447,913 R•conciliation of fund•: Fund balances brought lorward 3,743,903 20,930,105 24,674,008 24,226.095 Fund balanGgs carrled forward 16 2.614,658 23.304,885 25,919,543 24,674.008 All dlsclosures relate only lo Cont￿nUIng operations. Pa8e 15

The Old Vic Theatre Trust 2000 CONSOLIDATED BALANCE SHEET as at 31 August 2023 2023 2022 Note Fixed Assets T8ngible assets 11 23.818.148 23,818,148 18,863.989 18,863,989 CURRENT ASSETS Stock Debtors Cash al bank and in hand 33.393 4,458,972 9,023.517 13,513,882 32,952 4.169,488 12,313,865 16.516,305 13 CURReNT LIABILITIES Creditors.. amoun15 lalllng due wlhin one 14 15,568,450) 15.825,3051 NET CURRENT ASSETS 7.945.432 10.691,000 Total ••••ts l•#• curr•nt liabllll 31,763,580 29,554.989 Creditors., amounts falllng due after moro than ong year 15 15,844,036> (4.880.981) NET ASSETS 25.919.544 24,674,008 Ch•rlty Funds Reslrlcled Funds 16 2,614.659 3.743.W3 Unre81ricled FLtnds'. General unreslrlcled funds Design818d funds Total unreslricled funés 18 3,941.618 19 363 269 4,957.939 15972 1e6 23,304,885 20.930,105 TOTAL FUNDS 25,919,$44 24,074,008 The financial 51alemgnl were approved by the Trustees 8nd 8Lilhorised for issue on 12 May. 2024 and were signed on their behalf by.. N J Clarry 05rèctor and Trust9• Ichalr) Company Registrab'on No.. 03667822 Page 16

The Old Vic Theatre Trust 2000 CHARITY BALANCE SHEET as at 31 August 2023 2023 2022 as restated Note Fixed Asse18 Tangible assets Investments 11 12 23,817,396 18,861,499 23.817.398 18.861,501 CURRENT ASSETS Debtors Cash at bank and in hand 13 1,892,181 5,271,636 7,163,817 10,4g9,844 1,447,741 11,947,585 CURRENT LIABILITIES Creditors.. amounts falling due wlhin one year 14 13.010.125) 13,943,321) NET CURRENT ASSETS 4,153,692 8,004,264 Total a88ot8 le8• curr•nt Ilabllt108 27,971,090 26,865,765 Creditors,. amounts falling due after more than one year 15 (5,844.0391 14.880,9811 NET ASSETS 22,127,051 21,984,784 Charlty Fund¥ R861ricled Funds 2,614,859 3,743,￿3 Unreslricled Funds.. General unrestricted fund8 Designated fund5 Total unr851ricled fundg 16 149,875 19,362,517 2,271,205 15,g69.676 19,512.392 18,240,881 TOTAL FUNDS 22,127.051 21.984.784 As permilled by s408 Companieg Act 2008, the parent charfty has not presented its own statement of financial activllies and relal8d notes. The charitls gurplus for the year was £142,26612022.' deficit £602.4561. The financlal slalemen15 were approved by the Trustees and aulhorised for issue on 12 May 2024 and were signed on their behalf by, N J Clarry Dlre¢tor and Trustge (Cha Company R8gistralion No.. 03667822 Page 17

The Old Vic Theatre Trust 2000 CONSOLIDATED CASH FLOW STATEMENT For the year ended 31 August 2023 2023 2022 Note Cash flows from operating activitie• Cash generated from operations Corporation tax credit received 21 243,616 2,112,410 2,356,026 (1,513,942) 41.631 11,472,311) Cash flow8 from Investlng actlvltla• Inleresl received {111,9591 (5,423,571) 169,768) 12,329,994) Purchase of propety, planl and equlpment N•t ¢a8h u$•d in inv•8tlng actlvltios IS,535,5301 12,399,762) Cash flow8 from flnan¢lng a¢tlvltle8 Loans repaid 110,842 111,864 110,842 111,864 Change in ca8h in thè reportlng perfod {3,2bXI,3481 (3,983,937) Cash al the beginning of the reportlng Period 12,313,865 16,297,802 CaBh at th• •nd of tho rnportlng p•rlod 9,023.517 12,313,865 Page 18

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year onded 31 August 2023 1. ACCOUNTING POLICIES Company information The Old Vic Theatre Tnjst 2000 18 a private company limileé by guarantee incorporated in England and Wales. The registered office is The Old Vic, 103 The Cul, London, SE18NB. 1.1 Accounting conventlon Basls of Prgparatlon The financial statements have been prepared in accordanc8 with the Financlal Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021, published in September 2015. The Charilable Company 15 8 public benefit enlily for the purposes of FRS 102 and therefo￿ the charity also prèparéd ils financial slalements in accordance with the Statement of Recommended Practice applicable lo charities preparing their acGounl$ in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland (The FRS 102 Charilles SORPI, the Companies Act 2008 and the Charities Act 2011 The finandal $lalem&nls are prepared in sterling. whl¢h 1$ the fun¢lion81 currency of the company. Monetary amounis in these financial statements are rounded lo the nearest pound. The financial slalemenls have been prepared under the hislorl¢al ¢o$l Convention. The principal accounting pollcies adopled are sel out below. 1.2 80815 of consolldatlon The consoliéalad financlal Statements incorporate Iho8e of The Old Vlc Theatre Trust 2000 and a51 of its subsidiaries li,e. enlilies that the group controls through ils power lo govern the financial and operating policles so as lo obtain economic benefilsl, detailed in note 22. Subsidiaries acquired during the year are con801idaled using the purchase method. Their results are incorporated from the dale that control passes. All financial slalements are made up lo 31 August 2023. Where necessary, adluslmenls are made lo the financial slalemenls of subsiéiaries lo brSng the a¢counling pollcies used into line wlh those used by other members of the group. All intra-group Iransaclions, balances and unrealised gains on transactions be￿een group companies are eliminated on consolidalior). Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset Iransferreé. Page 19

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year ondod 31 Augu6t 2023 1. ACCOUNTING POLICIES Icontinuod) 1.3 Golng Concorn The Trustees have assessed whether the use of Ihe going concem basis is appropriate and have Conside￿d possible events and conditions that might cast significant doubl on the ability of the charitable group to continue as a going concern. Th8 management team have reviewed best and worst case s￿narIO$ taking in to account Un￿rtainty, inflalion and cost of living increases. In addition, the managernenl team have prepared a detailed cashflow forecast and are Gonfidenl that the group has sufficient resources lo remain financially viable for a period of al least 12 months from the date of signing of these financial slalements. Thus the Trustees of the charitable group continue to adopt the going concern basis in preporing ils financial stalemenls. 1.4 Incom• Income from charitable acliviles and production In the theatre is included in the period ￿en the performance lakes place. Incorne from commercial activities is included in the pèriod in which the group is enlilled lo receipt. Donations are accounl8d for a5 received by the charity. Income is only dafernd when11 is specifically related lo fulure aGGounling periods. 1.5 Expèndlturo Llabllilies are recognlsed as resources expended a5 soon as there is a legal or conslruclive obligation commilling the charity lo the expenditure. All resources expenses are accounted for on an accruals basis. Charitable activities includ8 8xpendilure a880cialed ¥￿th the operalion of the Ihealre and the producllon of theatrical performances and includes both the direct c0518 and support costs relating lo tho$8 a¢llvllies. Such C0818 Indude govemanee co8t8. Governance costs include those Incurred in the governance of the charity and ils asse18, and are primarily associated with the conslilulional and slralegic requSremenls. Cosls of raising funds are those costs incurred in allracling voluntary Income, and those Inc#Jrred In trading 8clivilies Ihal ralse fund5. 1.6 Tanglble Flxed A•sets Tangible fixed assets are Inillally measured al cost and subsequently measured al cost or valuation, nel of depreGlalion and any irnpairmenl losses. Freehold propertie5 are slated al revalued amounts under tha transitional provisions of FRS102, being the fair value of the dale of ￿valUation les5 any subsequent depreciation and impairment losses. Oepre¢Salion 1$ recogni5ed so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold buildings 1 Vo straight line Office equipment 25°/0 33.10 slraighl line Fixtures and fillings 5./0 330k slraighl line Freehold land is not deprecialed The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying valLJe of the asset, and is credited or charged lo the slalement of financial activities. Page 20

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the yoar endod 31 August 2023 1. ACCOUNTING POLICIES (continued) 1.7 Flxed asset inve8tm•nts In the parent charity financial stalemenls, investments in subsidiaries, asso¢lales ané jointly controlled enlitSe8 are initially measured al cost and subseouenllv measured at cost less any aGcumulaled impairment losses. A subsidiary is an entlly controlled by the group. Control 15 the power lo govern the financial and operating policies of the entity so as lo obtain benefits from ils aclivilies. 1.8 lrnpalrmgnt of flxed a88et$ Al each reporting period end dale, Ihe group reviews the carrying amounts of its tangible and intangible assals lo delerrnine whether there is any indication that those assets have suffered an impairment loss. If any such indication 8xisls, the recoverable amount of the ass81 is estirnaled in order lo determine the extent of the imp8irm8nl loss lif any). Vvhere il Is not possible lo estimate the recoverable amount of an individLtal asset, the group eslimales the recoverable amount of the cash-generaling unil lo which the asset belongs. Recoverable amount is the hlgher of falr value less costs to sell, and valu& in use. In a88es8ing value in use, the eslimaled future cash flows are discounted lo their present value using a pre-tsx discount rale that reflects current market assessments of the lime value of money and the risks speclfic lo the asset for which the eslimales of future cash flows have not been adjusted. For assels used in delivering charitable aclivilies, considerallon 18 given lo thè 5ervlce FKJlenllal of those asset8 to achieve those charitable oble¢lives. If the recoverable amount of an asset lor eAsh-generaling unill Is e$limaled to be 1838 than Ils carrying amount, the carrying amount of the asset lor cash-generaling unill is reduced to ils recoverable amount. An impairment logs is recognised immediately in the slalemenl of financial acllvily, unless the relevant asset 18 carried al a revalued amount. in which case the impairment loss is Irealed as a revaluation decrease. Recognised impaSrmenl10s¥es are reversed if, and only rf, the reasons for the imp8lmienl10s8 have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the ass81 {or cash-generaling unill is increased lo the revised e51imale of its recoverable amount, bul so that the increased carrying amount does not exceed the carrw'ng amount that would have been determined had no impairment loss been recognised for Ihe asset (Dr cash-generaling unill in prior year8. A reversal of an impairment loss is recognis8d Immediately in the statement of financial aclivilies, unless Ihtt relevant asset is carried al a revalued amount, in which case the reversal of the impairment loss is Irealed as a revaluation increase. 1.9 Stock Stock is 51aled at the lower of c051 and eslimaled selling price less costs lo complete and sell. Cost comprises irecl materials and, where applicable, direct labour Costs and those overheads that have been incurred in bringlng the stock lo 115 present location and condition. Stock held for distribution al no or nominal considerallon Is measured al the lower of replacement Gost and Cost, adjusted Whe￿ applicable for any loss of service polenlial. Al each reporting dale, an assessment Is made for impairment. Any exces5 of the carrying amount of stock over ils eslimaled selling price less ¢051s lo complete and Sell is recognised as an impairment loss in the 31alemenl of financial adivilies. Reversals of impairment 105S8s are also recognised in the slalemenl of rinanclal acllvilies. Page 21

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year end8d 31 August 2023 1. ACCOUNTING POLICIES Icontinu•dl 1.10 Cash at Bank and in hand Cash at bank and in hand are baslc financi81 assets and include cash In hand, deposlls held 81 call vllh banks, other short-tgrrn Ilouid ￿nvestmentS with original maturit18s of Ihree months or less, an¢J bank overdrafts. Bank overdrafts are shown within borrowings in currgnl Ilablli1Se8. 1.11 Flnanclal Injtruments Tho company has only baslc financial instrurnents measu￿￿ at 8mortlsed c081, with no financial instrumenls classified 8s other. OT basic instrum8nls measure(l at lalr value. 1.12 Employ•• ￿n¢fit¥ The costs of short-lem èmploy88 benafits are racognised 88 8 li8biltty and an expense, unless those costs aro required lo be reco9nised as part of tho cost of stock or hxed assets. The cost of any unused holiday enlillemenl is recogniseil in tho pariod in whlch the employee's services are recelved. T8rmination bgneflls are rec¢gnised immediately as an eX￿nSe when the oroup Is d8rnonstrably commStlod to lermlnale lh8 omploymenl of an employog or lo provide lermlnallon benefits. 1.13 R•tlrem•nt b•n•flt8 Payments lo defined conldbullon retirement ￿nefit schemes are charged a8 an exp8n8e as they fall du8. 1.14 L•a8•8 Rentals payable undgr operalino le8se8, Includlng any lease Incenllves received, are charged lo Sncome on slralghl 1Sn8 basls over the term ol the relevant Igase except where another more syslemallc basls Is more represenlalive ol the lifne patlem In which economic beneflls from the leas8d asset ara consumed. 1,15 Fund accounllng General funds are unreslricled funds which are available lor use al the discretion ol Ihg Trustees In furtherance of the general objectives of the company and which have not b88n dosignaled for other purp06e8. Designated lunds comprise unreslricled funds that have been sel aside by the Trusleos for partlcular purpo888. The aim and uso Qt gach designated fund is set out In the notes to the 1Snanclal slalemenls. Reslrfcled funds are funds which are to be usad in a￿or(lanCe with speclflc re81riclions imposed by donors or which have been raised by the company l¢y partlcular purposes. The c0515 01 raising and administering such funds are charged against the spedfic fund. The aim and use ol each rgslrl¢led fund is sel out in the notes lo the financial sta19menls. Investment Income. gains and losses are allocated to the appropriate fund. 1.16 Governm•nt grants Govemmenl grants are recognised when Iherels reasonable assurance that tha grant conditions will be met and the grants will be r8c8iveil. Page 22

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For tho year ended 31 August 2023 1. ACCOUNTING POLICIES Icontlnued) A grant that specifies performance conditions is recognised in income when the performance ¢ondilions are mel. Where a grant does not specify performance ¢ondillon$ , il is recognised in income when the proceed8 are received or receivable. A grant received before the recognition crileri8 are $81isfied is recognised as a 1.17 Taxatlon The Company is a registered charily and as such 1$ enlilled to exemptlon frorn laxalion on ils charllable aclivllies under the Corporation Tax Act 2010. 2. Donatlons 2023 2022 Voluntary income Membership. Clubs and FrieTrd income Grants 3,338,490 746,103 2,063,948 6,148,541 3,043,070 1,482,824 1,283.450 5,809,344 The split of donations between resldcled and unreslricled is £4,118,743 and £2.029,798 respecllvely 12022.. £3,993,201 and £1,816.143). 3. Incomlng ro¥ourcos from charltable actlvltl•* 2023 2022 Unragtrlct•d Funds Box office gross income Theatre hire elc. Other income 10,063,614 4,541,480 2.011,979 12.075,593 2,186,274 6,727.754 4. commo￿lar tradlng op•ratlon• Income and expenditure is from the operations of the charity's trading subsidiaries, excluding the c051s related lo creating and running the Ihealrical productions. Further details and trading results of the subsidiaries are provided In note 22. Summary of group tradlng robultB', 2023 2022 Turnover 3,348,116 1.080,082 Corporate event costs Services costs Administrative expenses 1112,5661 1570,301) {93,513) 1783,8171 11.970,7291 593,570 303,702 Page 23

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023 S. Fundraising costs 2023 2022 General event t￿$15 Staff costs 764,876 672,128 227,394 590.105 1,437,004 817,499 The split of fundraSsing costs between re51ricled and unrestricted £325,586 and £1,111,418 respectively {2022.' £2.227 and £815,272) O. Dlract C08ts of operatlon of thoatrn 2023 2022 Dlrect cost8 of oporation of thoatro Production costs Production salary costs Staff costs Office costs Building costs Insurances Consultancy Fee8 Computer cos18 EnlertaSnlng DepreGlalion Irrecoverable VAT Bank charges Exchange rale loss 5,136.173 3,843,239 3,667,218 1,156,748 1,062,143 461,158 236,405 181,075 77,866 469,412 767,143 85,559 9,784 2,478,103 1,612.783 4,571,760 656,583 893,274 165,182 336,931 249,601 47,284 439,811 387,359 283,429 113.7251 17.153,922 95,499 12,108,375 55,691 Sharo of governance costs Co8ts of op•ratlon of theatre 17.249,421 12,164,066 The split of direct costs of operation of the theatre between restricted and Un￿strICted is £507,715 and £16,741,706 respectively12022'. £2,334,211 and £9,829,855). PaBe 24

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the yaar endèd 31 August 2023 7. Charitable actlvltles 2023 2022 Support Gosls including govemance costs 324,458 175.517 Support Governance costs Costs 2023 2022 Legal and professional fees Auditors, remuneration - Audit fees Auditors, remuneration - Non audit fees 43,100 48,699 23,800 23,000 95,499 91,799 23,800 23,000 138.599 29,841 20,350 5,500 55.691 43,100 Bank Interest 185,859 185,859 119,828 228,959 95,499 324.458 175,517 8. Net Incomelexp•ndlturo This 18 Slated after charging the follo￿ng.. 2023 2022 Fees payable lo the Gompanws auditor Fees payable lo the companls auditor for 5ervlce8 relating lo prior year Fees payable to the ¢ompanls auditor for non-audil Serv￿88 Fees paya1￿8 lo th8 companls auditor for non-audil services relating lo the prior year Fees paydble lo the companls auditor for subsdlary audit Fees payable lo the comp8n/s auditor for subsdiary non-audll 5ervlces Depreclats'on of owned tangible assets 23,800 22,049 13,000 20,350 5,500 10,000 19,600 14,600 469.412 16,830 13,750 439,811 9. Indemnlty In8uranc• Truslee$' indemnity insurance In 2023, the cover was Included wllhin management liabillty Sn8urance and the cost is not separately Identifiable. Trustees indemnity insurance indemni118S the Trustees and other officers against any consequence of any neglect or default on their part. 10. Employ0•8 Staff costs were as follows.. Group 2023 2022 Wages and salarles Social security cos15 Other pension costs 8,509,626 600,920 170,482 6,019,872 499,517 117,444 9.281,028 6,636,833 Page 25

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year onded 31 August 2023 10. Employ￿9 (continued) Th8 average numbor of persons employed by the company durinq the year was as follows.. Group 2023 Charity 2023 2022 2022 Management Adminislralion, marketing and commercial Production Technical Fundraising staff 16 214 88 39 13 13 71 12 46 169 45 38 13 370 278 97 69 11 employees earned more than £60,000 for the year12022.' 10}. Group 2023 2022 £150,001- £160,000 £120,001- £130,000 £110,001- £120,000 £100,001 £110,000 £90,001- £100,000 £80,001 - £90,000 £70.001 . £80,000 £60,001- £70,000 io The remuneration of key management personnel for th8 year wa8 £1,429,82212022.' £1,026,236) Page 26

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For tho year ended 31 August 2023 11. Tangible Fixod Assots Group Freehold land Fixtures and Office Assets under and build•ngs Fitting8 equipment construction Total Cost or valuatlon At 1 September 2022 Additions Transfers Diposals 12.900.OCKJ 6,703,721 26,337 455,672 11,084 2,370,405 22,429,798 5,386,151 5,423,571 1401,4631 1171,8671 (573,3301 Al 31 Augusl 2023 12,900,000 6,328,594 294,889 7,756,556 27,280,039 Depreclatlon At 1 Soptember 2022 Charge lor tha Year Eliminated in respect of dlsposals 576,478 129,000 2,603,985 385,346 315,680 24.732 1401.4831 1171,866) 3,565,809 469,412 {573,32g} At 31 August 2023 705,478 2,518,201 238,212 3,481,891 Ngt Book Valu• Al 31 August 2023 12 194 522 3810393 56,877 7,756,556 23 818 148 Al 31 August 2022 12 323 522 4 099 736 70 326 2.370.405 18863 989 Charlty Freehold land Fixture$ and Office Assets under and buildings Flttings oquipment construction Total Co8t or valuatlon At 1 Septomber 2022 Additions Transfers Dlposa18 12,900,000 6,686,375 26,336 455,672 11,084 2,370,405 22.412,452 5,386,151 5,423,S70 1401,483) 1171,8671 1573.3301 Al 31 August 2023 12,900,000 6,311,247 294,889 7,756,556 27,262.692 Depreclatlon At 1 Septembar 2022 Charye for the Year Eliminated in respect of dlsposals 576,478 129,000 2.589,129 385,348 313,942 24,732 1401,4631 1171,8661 3,550,953 467,674 {573,3301 Al 31 August 2023 705,478 2,501.607 238.212 3.445,297 Not Book Value Al 31 August 2023 12 194,522 3,809.640 7 756 556 23 817 395 AI 31 August 2022 12 323 522 4 097 246 70 326 2 370 405 18 861499 Page 27

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 Auoust 2023 12. Flxod as8Ot Investments Group 2023 Charity 2023 2022 2022 Investments in subsidiaries 22 Charlty Investments in subsidiaries Cost Al 1 Seplemb8r 2022 Dlsposal At 31 August 2023 Net Book Valu• Al 31 Augus12023 Al 31 August 2022 Page 28

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 Auqust 2023 13. D•btor8 Group 2023 Charity 2022 2023 2022 as r•$tatèd Amounts falling du• withln onè ￿ar. Tfadè dÈblors Corporation lax repayable Amounts duo from subsidiary undertakings Other debtors Prepay)n8nts and accrued incom6 166,899 3,395,172 267,845 1,401,720 60,269 16,880 1,574,480 707 258.725 8,869.278 21,963 1,591,725 68,443 826.458 99.972 2,338,524 4,456,972 4,108.061 1,892,181 10.499,844 Jnounts lalllng du• gr•alor than on• y•ar: Daferred lax asset Toial debtors 4 456 972 4 169 488 1892 181 10 499844 1& Credltorn Group 2023 Charity 2023 2022 2022 Bank loan8 other108ns Tradg ¢re¢Yllors Arnounts owed to subsldiary und8rtaklngs Othar taxation and socl418ecurlly Other creditors Accruals Advanced booking$ Delerred Income 110842 110,842 1,000,000 1,135,892 110,842 110,842 1,000,OC 853,793 428,047 177,649 336,454 995,294 1,709,888 1,989,925 144,084 1,056.246 842,266 1,538,195 234.468 78.724 418,517 1,989,925 90,349 8,859 607,239 1.272.239 5.568,450 5.825,305 3,010,125 3,943.321 15. Cr•dltor•.' Amount8 falllng du• aft•r more thin one ear Group 2023 Charity 2023 2022 2022 Bank loans - secured Other loans 2,223,193 3 620 843 5,844.036 2,310,142 2 570 839 4,880.981 2.22J.196 3 620 843 5,844,039 2,310,142 2 $70 839 4.880.981 Maturlty of d•bt Group 2023 Charity 2023 2022 2022 Rgpayable by inslalmenls.. One year or less L8SS than two years Less than fiv8 years In fiv8 y8ars of more 100,412 1,180,988 784,692 3,888,789 1.110.842 115.280 762,803 4.002,898 100,412 1.180,988 784,692 3.888,789 1.110,842 115,280 762.803 4,002,898 5 954 881 5,991.823 5,954,881 5,991,823 The bank loan is secured on the freehold property. The loan faclllly Is repay8ble In Inslalments by Seplembar 2038 and the rale of interest is 2.05Vo per annum over baso rate. The £2.5m loan from the Arl Councll Englantj as well as the £1m other loan are considered to be a publlc benefit 8nlity conc8ssionary loan as the Interest rale of the loan is below the prevailing market rate. Tha loans are valued 01 amortised cost using Ihg gffeclive interest method. The Arts Council England loan accrues interest annually al 2OA and is repayable over 20 years, wilh a repayment holiday ftr the first four y8ars. Th8 loan w85 fully drawn down in year ondgd 31 August 2021. The other loan of £1m is not interest bearing and is not repayble within any specific time. Page 29

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEAIENTS For th8 year ended 31 August 2023 10. Cons¢Aldotsd •t•tement of funds Curren 1 8•pt•mb•r Incom• Exwndl¢urg Olbor Trarth Jl Augu¥t al￿1010¥ wlsod galn8 2023 £ Not¢¥ 2022 R•strt¢tsl Fund¥.' Malnt•ftanc• of buSldlng'. 518,979 229,688 1150.rKoi 588.885 Educaiion •nd ¢(wMiunlty: E¢JucalKin & Cornmunily Wartm6nl Costs SchoDlS Club Theatre Makers Communlly Prol8cl Iprtvlou￿y G•1 Going) Tre Long COVIO Wellness Proh8CI Take tha L••J Fronl Ll M8lln8e Idol8 The Hub Old Vlc Fla￿tIng lpwl0u￿Y Wiii8r8 Rooml Communlly Chjb IFY0vbulsy Curtoin Upl Alumnl Netth Iprevlou￿Y ConnKII Work Exporler E￿¥910 Prolecis OV Fr¢ni Line FoGilllaloFs Twelv• Cholr8 E10vaie lor L8mb•ih Connecl TBlqnl Development SCH Prlmary Projects Fronlllm Lambèih 3,979 35,CJO 136.9751 110,0001 19961 173.205 66.558 184,400 44.480 I166.8￿} 156.2741 143.4431 1W,709 53,747 29 42,5LN) 40,5LbJ 139.7431 1124,2031 133,3421 118,7541 16.7571 8.883 8.938 17.214 20.340 2,404 95.orij 22,0 1.540 10.847 10.847 14.680 52 14.817 15861 7.970 28.625 130.1561 114.2981 123.7421 4,133 14,298 25,742 19 243 10 11 12431 141,0241 127,0071 eo.410 20.1)QO 18.7e6 7,007 8p•dal Pfol•¢t•'. CApiitsl Comp￿0￿,. P2A Capil81 Camp￿On.. P26 Capiial Campaign (Ellhorl Capllal Incom• Annex ComwAII Road End0vM￿l rfriurn$ irtome grants 1nd1v1￿11 prohth.. Dlrnmeislcapilal Indlvidu81 proiecls.. Impact Fund Indlvidu4 projeGlts.' F>utsi¢ Fund Buikling ProdUct￿jn Panner CDmmissloning P8rtner BOA Bloomberg Acceleroior Leyal & Repulallwai 8oH Office refurb Guardkqns Acc8811 CRF 15,585 1.581.835 325.000 524,769 1821.5301 lJ25.0001 11,935.2181 975,889 13 14 1,Toe,448 1298,OQ)I 2Q,LlJO 120.CKQI 16 98.clo 198,CeOI 17 23.885 1e9.597 2e7.220 123.8851 31.652 1453.2191 12.5001 1109.4201 188,9211 18 ?￿.868 19 224.021 20 21 105,618 410.020 2,SLh) 10.0tr) 93,428 88,974 237,094 181,210 1531 1237.0941 1206,9791 16,9371 IB4,2291 350.000 1136.3801 6,937 200.ow 121.851 115,771 1.505 1,SCé 6.887 13,705.9601 3.743.￿2 4.118.743 11.542,0281 2,814.659 UnrMtrlct•d Fund8: Pr(Klucllon fund 8ullding fund Ann8x fthd 1,6rK),oDJ 13,872.186 500,000 15.972.186 11,8(KJ.0001 4,991.103 18.863.269 5w.orxi 19,363.209 3,941.616 30 23,304 885 3.391,103 314,857 3 705,060 General Fund 4,957,839 17.453.507 120.697.0971 20 930 105 17 453 $07 20.897,097 2.112.410 2 112410 TOW UnOSlri¢i¢d funds Tothl lund• 24 674 OD0 21 572 250 22 439 125 2 112 410 3591PS44 Pa8e 30

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For thB year •ndBd 31 August 2023 f& Consolldoted stotenxfflrffvThJ4 1 £1￿k of t￿ ResioFAUon Lovytrangf•rr£o to tho Ba¢kStwa• fvnd 2 £35k SthroBdeF FoundHiionGrdnt to co¥erothgF edUcAt￿n, £4k rel8￿d knlo the Gur￿1 fur¥J 3 £10kctssls allocaied from th+G￿•￿Al Ety￿¥￿0n poi 4 £6.7k IT3nsfertt> Genwsl to coveT sa&ry G051s £6.8k tr8nsferollunding lo Take the Lead from Ihe G•nBrn1f￿d, parucklaty RBC fundi 1 £8 9k covered by Ihe Imp8Elfu 7 £17kcAwer& bythe Imp8¢1 lund 14k troM￿r bAck to ImpAcif￿d 9 È4k covered by1￿ ImpaGI fund 10 É14k covornd by1Th￿¢t lund 11 coyered by tho Impaclfur 12 £7kcovered by lrnpacllund lj £621k from the Gerthlfund and Cwthl CDmpAlgn IElthorltr•n4wmd toth• BKk8taw ft￿d 14 £325k ￿10￿0 fr￿ the Gomral furt w cover Back of TrIou5e works 15 £1.93rn relea￿d toth2 General fund ￿ C(yJei coiiftf¥ th• ar￿ Backst4y• pwjecia 16 £ZOk reallB£d byihè Gwo181 fund io ¢OV¢tco8tsolthe BaGkstzp 17 Egak ETrknvmAntf￿I •llrK9t•o to èuppDrt8arkslag?fund l• E2?.Jk r¢•lio￿le1 trj thfr B4¢k$iaoo furtd l• V•iiov¥ pro1￿￿4 In EQuc•1￿￿n to¥ern# by lmy￿lund,. obov• 20 £100k liom BBRF Eureko ￿y. Uok from RcertWiltern tOSUFVOrt Cogt8. £190k io Suppon Syfvlll co¥ts, £13k r•leuao bttk io I Gen¥91 luno tOl8Iry to 2021 Incm whth ruversed, £100k farfyoundhoo D9yl811 ty1•88•d IO1h• GvThryilll Furvjl 21 £2.5k frrAn Found•bon rel•ased tolhq GBfAryrnI fur￿ lortre DoBk t)llor wopcl 22 PT¢dwI1￿ #In￿rI￿ding lor ch V¢lr• abn9￿th￿￿Uf￿fidln1 tothe G•rw41 fw prtNWf• 23 £89k i•l•a8•d fw C¢mmi88kJnlng p￿￿￿rt0 tho Gertral lur￿ to BUPPOrt R&D 24 £136k ¥wrth of ¢08M4110¢•1•d b ble prfvl brknglng the reM￿nderto£1?1k Al YE, É106kb b• umdtol th• e•ck8i•qe prol•Gt 25 £8.gk le9•1 co5￿ c¢YeMd bylhe G•wr41 Iwd 26 Back ol rofwb Pro￿¢1 Ifom th•G￿r￿1 Fund th• e•¢k ol tourh•¥ 27 £1.ern Pioducuonfund ty￿•810 i¢ G•n?ril l￿d 28 £129k lor Cprtti•t￿n ￿ Gener81 fund 2• thhar ymallor p￿¢L8 r8lo•wd to I￿ G•n•ial lund JO ￿ p¢r•bov•, I￿1¥￿11r oth•r vail¢u¥ uoled5 Ir4nyfqNod 10 Oantrilfw P38e 31

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For th• mr ondad 31 August 2023 16. ConBolldat•d itatem￿l0f fund• IGwtlnu•dl 1 Septembor 2021 Incomo and galns Expendlturo and 10s5es Other recognised gain¥ Transfer5 31 August 2022 Re¥tricled Fund¥.' Malntonan¢• tsf bulldlng.. Resior81ion levy EduCa￿all aThd ccrfnfflunlty= 743.119 131,551 1355,8911 518.079 EduGalion & Communily tkpartmenl Costs Schools Club Thealre Make Communlly Project G81 Golngl Tho Long COVID wal￿$8 Proi8CI Take Ih? Load Front Lln8 Mallnee Idol• The Hub Old VIG Plyyrfrribnp (previous Wii18rs Room) Communlly Club Ipr8vlw￿y Curtaln Upl Alumnl Nem0￿ Iprevlw$ly CDnnecii Work Exp6rlon El2v@le PTolgcis Curtoin¥ Up IFr¢nllI￿l Spocl•l ProJoel•: Capllal CAmpDbJn' P2A Capil81 Campaign. P28 C8pII81 Campal9n (Filherl EThjO￿onI returns I￿8 ants 8.733 12.7541 1178.2401 123.7921 122.1591 3,979 172,784 23,791 178,681 64,100 173,205 66,558 2,459 1,931 20,228 37,4frJ 137,4OJI 30.887 34.048 110.OC#J 33.4P7 1120,3271 185,7411 131,7781 20.340 2.404 23.778 10.847 10,847 14,880 18,000 11.3201 3,750 13,7601 1J,087 2.5ts) 14,5D)I 18,0301 3,750 14.817 16.000 2e.825 7,970 2e,825 738.205 e22,191 100.000 1.82B.757 11,344.8111 1303,0711 15,585 194,871 1120.3091 119,0001 1,708.448 98.cfjo 58,(klO 59.000 Indlvldu•l proJ•cl•'. OlmmerslC&pNo1 lThdivldual proiBcl¥.' Impicl F￿d 405,998 1382,2191 23.885 147.980 85.822 144.0061 189,596 Ind1￿4￿￿1 wol8cls'. Publk Fund 41TrJ,O(XJ 288.220 1421,Tr)01 267,220 7,500 l(M),874 122,4LXJ 5.wo 45,000 5,000 4.274 11,3301 Produclion P8rtn8r Comm155kJning P•riner Talent t)evek)pmonl Iforrneity Old Vic 121 Florence Kldnw Bursary 16?.2471 138.4261 12,4591 114,OODI 93,427 88,974 14,Th)0 352.(KJO I114,9￿) 1168.7WI 237.Q94 181.210 Blth)mbJr9 Acc&lar￿or AOV COMMI￿1￿1n9 IUTh16finedl Olhor 350.DrpJ 40.077 140,0771 286 f70 3,155,384 3,993,201 12,813,583) 1591.0701 3,743.903 Unr•Atrfct•d Fundj: Production fun Buildiry lund Annex fund 1.eoo,ODO 6.951,913 500 Tr)0 9,051,913 1.eoo.OOD 13,872,1e8 8.920.253 8,920,253 15.972,186 Gemral Fund 5,283.673 9,622,979 111.545.3511 1.189.667 405,971 4,957,939 REv￿Uation reserve 6,735.145 16,735,145) threstri¢tsd funds 21070 731 9 623 979 11545351 1 189667 591 079 Totsl lund8 24 226 095 13 617 180 14 358 9J4 1 189667 24 6T4 00 Page 32

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS Forth• y•ar endgd 31 August 2023 16. ¢onsolldated si/t•wnt of fund8 Icothinuèdl I Seplombor 2022 Is restated Incomo and u8ln8 Expenditur¢ los8o8 Oth¢r recognlsed gains Transfvrs 31 August 2023 R•¥triGted Fund•= alntonanc• of bulldlnp.. Resloraiion16vy 518,979 229.6 1150,CQOI 588,665 eduG4tlon Gommunlty.. Eéuc8tlon & Cemmunity Dep8rtrnonl Costs SchoDls Club Theatre M8ker6 Comfflunity Projed Ipreviously Gel G￿ng) The Long COVID Wdln8ss Pfol6cI Take the Load Frt)nt Llne alinee Idols Th8 Hub Vlc P18y¥Tlllng Iprovloully WrilerB R￿rnI Commurty Club IpraYkJul&y Cui¢•ln Upl Ajumni N•tsYJrk 1pw1ou￿y Connocll Woth ENpgrtgnr Ekgvaie Proi8cis OV Froni Lino F•&11￿10￿ Twelv8 dayB Elevato for Lombelh Connect T81onl D8vdopm•nl SCH Primary Proip¢tJ FronUin8 L8mb8lh 3,979 35,0Tr) 184.400 44,480 13B,9751 110,0001 172,205 fj6,658 1168.8961 156.2741 143.4431 180,709 53.747 42,500 46,S(M) 139,7431 1124,2031 133,3421 118,7541 16,7571 8,863 8.938 17.214 20.340 2.404 95,000 22.0 10,847 14,880 10.847 19641 1521 52 14.817 15861 7.970 26.625 130,7581 114,2981 123,7421 4,133 14,298 23,712 019 24J 12431 141,8241 127,0071 60,410 20.LIOO 18.788 7,001 8p•¢l•l Prol•¢t•'. Capll81 C8rnp8Fon.' P2A Capital Carnpjlgn.. P28 Capital Comp8ign (Eltherl ¢opltal Annex Comwall Rood 15,585 1,581.835 325,000 524,789 1621.5301 1325.QQOI 11,935.2181 978.869 1.708.448 1298,OlX)I 20.000 120.0001 Endowmènt rèlumfy IncL)rn 9rani• 88.080 198,0601 lThJlvldual proJ8ct8: DimrnerslC4pllg1 In¢Jlvldual Pfol8d8'. Impact Fund Individugl projerts. Public Fund 23,885 169,597 287.220 123,8851 31,652 1453,2191 12.5001 1109,4261 188.9211 105,618 410.020 2.500 16,000 3C6,868 224,021 Produciion Partner Comrnis&onlw Pathr 93.426 88.9T4 237.094 181,210 1531 1237,0941 1268,9791 16.9371 184.2291 Bloo¥mbgrg A￿OI￿rI￿r Legal & R8putBlionBI OH Offic8 refurb GUa￿lar￿5 Accass CRF 350,000 1136.3801 6.937 200,(M)Q 127,851 1,606 1,$05 1461 46 6.667 13,705,96DI 3,743,903 4,118.143 11,542,U281 2,614,659 Unr•5tr1ctsd Fund•'. 18.862,517 Production fund Building tund Annex fund 1.600.IX)O 12.869,878 500,0(KJ 15,969,676 11.800.000) 4.992.841 18.862.517 3.392.841 19.362.517 Go￿re1 Fund Total unrestrict8d funds Total lun 2.271.205 18.240,881 784 11.985,558 11.985,558 16 104 301 14 420.007 14.420.007 15 313119 3.705,960 149,875 19,512,392 22 127 051 Pa8e 33

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year •nd•d 31 August 2023 18. Corwlldat•d $¢atom•nt ol funds IcortirwJ•dl 1 September 2021 Incorng Expendilurfr and losse¥ Other Transfeis 31 Augu$i 2022 as iÈstat•d and galn$ recogni￿￿ oatns R•strl¢¢•d Fund•: MaInt•￿￿£￿ olbulldlng= R95toiBfjon18Yy 743,119 131,551 1355,0911 518,979 Educatlon and communlty. Education & Community Department Costs S¢hoo15 Club Th8atre Make ommunlty Prol8cI (pffjviou￿Y Get Going) The Long COVIO Wdln8s8 Pn)lect Take the Le8d Front Lir M81in80 Ido The Hub Old Vlr Plaffiung Iprevtiius Wrllers Rooml Comrnunlly Club Iprevloulsy Curtaln Upl umni Netsffjrk ￿pre￿￿J81Y Conne¢ll Wort Exper￿nce Ekv8te Projects 6.733 12,7641 1178,2401 123,7921 122,1891 3,979 172,764 23,791 178.681 84,100 173.205 66.558 2,459 1,931 20,228 37,41Y] 137,4001 1120,3271 165,7411 131.7781 30.667 34,648 110,000 33,497 8.000 20,340 2.404 Z3,778 10,847 10,847 10,rAIo 11,3201 14,e80 3,750 13.7501 13,067 2,61XI 14.5001 18,0301 3.750 14,817 16,OlY) 28,625 7.970 26,625 8p•¢l•l Prol•Gt•- Capital Camp8lon'. P2A Capi181 CampBign' P28 Capiial C8mpaign (Eltherl Endowment relums Inc(me grants 738,205 622.191 109,000 1,828,767 11,344,811) 1203,6711 15.585 194,871 1120,3091 119,0001 1,708,448 98.cfjo 58,C60 59,fK)O IndI￿dUll proJ•cis'. DimmerslCApilal Individual proj•¢l$.' Impact Fund 405,998 1382,2191 23.885 147,981 65,822 144.0061 189,597 IndfvhJu81 projects.. Publlc F￿￿ 400.000 288.220 1421,0001 287,220 7.500 100,673 122,400 5.000 45,000 6,000 11,33Ql Pioducllon P8rtner Comffligsioning Partner Talent Developrnenl (former Ok1 Vic 121 Florenc8 IfleSner 8ur8 152,2471 138,42f I 12,4591 114,0001 93,428 88.974 4.274 14,0(Xl 352.0 1114,9061 I1￿,190) 237,094 181.210 BIDombEro Accelerator AAOV Commls¥thing IUndefiKdl Oih 350,OQO 40,077 140.0771 286170 3,155,364 3.993.201 12,813.5831 1591,0791 3.743.903 UnTe¥t￿rI?d FuTrd•- Producllon fund Buik1ing fund Annex fu 1.600.000 e.936.526 500 000 9,036.526 1.600.0( 13.869.676 6,933.150 6.933,150 15,￿9.676 General Fund 3,660.205 7,525,867 19,307,941) 393,074 2,Z71.205 R8valu8tion reserve Total unresiricted funds 6,735 145 19431 876 6.735 145 591,079 7 525.867 9.307.941 18 240.881 T(rtal fund8 11519 068 12 121524 P3Ee 34

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the yaar ended 31 August 2023 16. Consolldated statement of funds {contlnuod) R¢$tri¢t¢d fund8 Malnténanca of bulldlng Building funds relates lo funds reslrlcled to the bullding improvements which were spent in the 2018119 financial year. Restoration levy funds are reslricled lo ongoing renovation work required lo preserve the theatre for future generations. Educatlon and comrnunlty The Old Vic's sleadfasl commitment to education, community and emerging talent IS just as important as the work that goes on stage. Through a range of programmes. we aim lo inspire young people and welcome naw and diverse audiences lo The Old Vi¢. To bring this lo fruition, The Old Vlc dellvers the follo￿ng projects.. Educatlon Schools Club.. For students a ed 14-1 in London Our flagship Schools Programme. Working in partnership with 40 London school from areas of London with poor arts provision, Schools Club welcomes up lo 1,200 young people lo The Old Vic each year. The year-long programme supports arts in schools by offering fre8 theatre lickels. bespoke workshops, backstage lour8 and a range of educational resources. Take the Lead.. For ludenls in Year8 11-13 Thealre-based workshops that support social mobllily and build on five core employability skills.. communication, self-managemenl, self belief, teamwork and problem solving. Drawlng on The Old Vic's extensive experience a5 a Ihealrical inslilulion, this programme works with up lo 40 groups across London and supports students lake their next steps Into the world of work or higher education. Lln L mbelh: For un 00 lea ed 16-25 Opan lo young people in London aged 16-25 who, al the lime of applwng, were not In educalion, employment or training INEETS). The programme ran in Autumn 2021, offering paid placements al CLJllural organlsalions across Lambelh, including Pop Brixlon. Soulhbank Cenlre, Slrealham Space Proiecl, Beaconsfield Contemporary Arl, The Afriea Centre and The Old Vic. A5 well as on the job training, the programme commenced with an induction workshop and culminated in a CV workshop, exploring the skills parli¢ipanls have developed ané how lo apply them lo next steps, In addition, parlicipanls benefited from a nethrking session with industry professionals and prospecllve employers. Front Line.. For un eo lea ed 16-25 Front Line al The Old Vic gives paid placements In our Front of House teams to young people aged 16-25. Through creative workshops and working alongside our staff, parlicipanls gain vital on-the-job learning opportunities and are supported to develop key employability skills lo aid their future careers. Since the project bagan In 2015, we have worked with young people. m8klng Front Line one of oijr longest running and most successful projects. OV Connect OV Connect brings together our programme and production alumni, inviting them back Into our iconlc building for ongoing artist development, £10 lickels lo shows, access lo bespoke panel talks, debate5 and creative insigh15, new work development and collaborative platform8. Page 35

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For tho yaar endad 31 Augu$t 2023 1& Con8olldolod 8t•tsm•nt of fund& (continued) Hprfm Part 018 newpiloi of pnmary pro3ramm•s forThe Old Vic. 11 is s free prai2cl running in London 51ale primary sthorAs for year Six sludenls. 8g&J 1fp11. The projed draw? on The Old Vic's expertise •5 8 Ihealrical Inslitulion lo support young peor's dev8lopM8nl lo lake rMnersh4) over their nexl slep5. InclL41ing supporiing ihem the lianslllon Irom prirnary 10 seco￿ary aducaiion. Uslng theatre techniques and drama practises the proj8d enabl88 81ud8nts to develop five core Bki115.' Éelf-bolief. comtnunlc8tiDn. le9[n￿￿[k. wgblgm-501vin9 %ll-mgnagement. val Pro ELEVATE Is L8mbelh'8 mlssFon Io open up the Cfealfve and cultural sector itt evèry young wrson in borough. Thrts￿h funding from ltta coundl The Old d&liv&red live Iree prograrnrnos to 5UPPOrt young ￿0p18 io Bccess ond engage wlh the arts.. OV Work Ev￿nce, Scho￿8 Club, 8n onlino Creative Cgfeers Conference and pwlnernhip proiiecis Ydth NEON arwj L8mb¢ih Ethalors. Offering adv8nc8d ha￿￿n ex￿rIenCe In cre8llv8 18c1111811on and the ¢hgn¢¢ 10 dev0kJp key Irgnsferable skills The proor8mme aims to give particlp8nls ￿1th no or limited exPBrien￿ in f9￿11¢911ng the 5ki115 and eNperience5 to help Ihern ilh Iheir next uealiwe slep$. and connecl Ihern lo nelwork5 vnabling aGce$s lo job$ and crea1￿@ oppmunllles. Over 12 8es8ions, partlcip8ni$ exp8rknc8 IX8Cllcal faclllt8lh)n Iranlw from Th¢ Vk Education & Communlty 108m and gu8&tcr88tsv8 W￿￿1&0￿￿r8 they leArn dlff9renl workshop (kn1￿0ry WaBIl￿5. Th8Bir6 M8kor8 18 & fr8e &ix.monih pwramme for 18-25 year offerfng parflcipanl8 OPPCrftwilh88 lo develop crea1￿0 ¢onn8ctsons and cregle p toolktt lo discus8 and make theatre mldst of our changlng 9(xiely. Tho 2021 prolgci invofved ￿rkIng ￿th 22 young lh￿tre m8kefS IhrtyJgh a sen•8 of knfjrkshcps 8ThY m8s1we18￿8. Wllh lh& &uprA)rt af a rKof£y5i0nBI dlreclor. pllrticipllnls canceplualiyed und plinn•d the futu￿ of Ih88ire 8longsld¥ other youn9 Gre4llve5, Kyklna In collaboraiion of the UK'8 108dlng wol8851w81 theatre maef8 The proie¢i ¢ulminiiAJ In a 5hMfi80 In Doc8mb8r 2021. P8rtklpant8 aLg0 r￿d¥ed tlckola lo Old Vt F•rfNm9n¢￿'. A Chd•mao Cgrol ar A Number. Tho Hub Th8 Edu¢aUcfj Hub wovldo$ onlkng r¢sour¢w for1o•rhvr¥. Blud￿¢1. p4r•nts h(￿0 6chodlrva. ￿u1va Crea￿¥￿ ol th• fulurn wanllng lo Kryam new 5kill$ Commynlly Al The Old Mc fft are w$i¢n81¢ 8boul Ihe bew1115 of parflclp811on Ihe cwllva arts. can unknck lh8 Imaoinallon broaden horkons lor people of •ll ￿85. Our cornmunlly progiammes 818 deslgn8d ￿ angage paCP￿ wth tho ol The Old Vlc both on and off stagè 8r4 8upwrt Improved ￿lIbe1￿ ofoui locgl ¢ommunllles. o￿n lo ￿¥0￿8 8gel 50+, Iho $¢heme Is Iroe ity Idn Ind Include¥ Uckel d15counls for rnauw pwforfflances, pre-show •venl8 4nd an opp(Ktunily lo swlJliBe. moel now people and lean more atoul The Old VIC 8nd our 8hM. Communily Club, previousty kne￿ as Cwialn Up whlch, 8inc8 2019, has ￿￿rk80 wllh comrnunlly groups wSlh Ilmll8d access lo th8 •rt$. provlding them fr88 th8air8 lick61&, four fre8 drama workshops and bB5wko suppori. Through Ihls pro1￿1 Thi Cld Vlc ￿ Comrnllltd to removing b8ttler8 MJY (din¥rily ex¢lude peop from ￿¢858￿n9 Ih88lre. Th Th8 Lon9 COVID Wèiine55 Proleol Inveslwatqd 08n8nis ol engagiThJ wbth the arts 10 8UFPOrt ih088 ￿1h long COVID Tb18 188e8rch-b888d, rtIGppalory crealive inl8rv8nilon ￿1￿ 8wuali81 movement and YDlce pr8EliliDnwJ to trBttle # $Ix-Y￿k pwrBmFne M)rklng ￿1th adults wlh lona COVID. Thé ￿teklY ses$ions focused on using movemenl, bleothlno Bnd Ihealre teChn￿U95 Io SLPPOrt symplom5 and tIILin9. Plawfflghl Irpining prograrnrne for Six ernerglng rtlw8118 and overl. The programme lrtludes, Ud￿n0 pwlously ￿tI￿n ￿8Y8. haorty debthe over thl lh8 *YII-made play Is. and writing exercises aimed ai davelopffj drar￿aLu￿ul &kills. lumnl Ne rk viou nn Throughout our hi31Dry daring art151s have been al the foref￿1 of The Old Vlc's ploneering vlsbn. The Alumnl Ne1￿￿ brtngs 1098lh8r tyjr tal￿￿ alumni. In¥￿Ing Ihem into our Ic0￿C bulldlng lor ongolng professlonal ¢J8¥dopm8ni. A week long I￿TrIn9 progiamrne lor up to 20 14- 18 year old5, IEanwvJ mofv a)DuI The #nd Prod￿￿9 IhEaire. esPEG￿l￿ for It￿50 wlh Illlle or no access 10 the art$. vl ro G￿￿15 thich gre intended 10 5UPPOrt the commi8slonSng ￿ n6wth, the 88￿188 director and 8ddiiKJnal prDjEc15 or iniliBlwe3 out￿de of nortnal operdlion5 such 88 capital projeEts. P3&e 36

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 Auoust 2023 16. Consolldated statsmont of funds Icontlnu¢dl ecial and Individual ro ects Grants which are intended lo support the commissioning of new work. the Bayliss dlreclor and addiilonal projects or inilialives outside of nomi81 opef81ions such as capitsl projects. Doslgnated funds The Trustees have design8ted funds as follows.. Productlon fund The Producllon lund rèpresent5 monles sel aside lo support the reopenlng of the Ihe8ire. The building fund represents the monies Spent on purchasing the building ond any subsequanl development work that has Increased its v8lue. This is nel of the value of 8ny borrowbng secured on thè property. Annex fund This fund represents money d8slgnaled by the board of Iruslees lo enable Ihe d8velopmenl of the Annex project. The Annex is a property which is being developed as a leaming and communily space adjacent lo tha theatre buildlng. 17, Anal￿1￿ of n•t as8ot8 b•tW•on fund• ds- rrenl year Restrlcled funds 2023 General Designated lunds funds 2023 2023 Tolal funds 2023 Tanglblo fiKed assets Current 8ssel8 Creditors duè within one year Long lem) liabililles 23,818,148 23,818,148 10,399.223 500,000 13,513,882 15,457,608) 1110,8421 15,568,450} 11,000,000) 14,844,036) {5,844,0361 2.614,659 2,614,659 3,941,615 19,363,270 25,919,544 Grou an81 lor ear Restricted funds 2022 Gener81 Deslgnated fundy funds 2022 2022 Total funds 2022 Tangible flxed 8s$el$ Current assets Creditor5 due within one year Long lerrn liabilities 18.863,989 18,863,989 2,100,000 16,516,305 1110,8421 15,825,305) 14,880,981) 14.880,9811 3.743,903 10.672,402 15,714.463} 3,743,903 4,957,939 15,972,166 24.674,008 rren ear Re51riGted funds 2023 General Designaled funds funds 2023 2023 Total funds 2023 Tangible flxed assets Fixed ass81 investments Current 8ssels Creditors due within one yeBr Long lemi liabilities 23,817,39e 23,817,396 2.614.659 4.049,158 500,000 7.163.817 12,899.2831 1110,8421 13,010,125 11,000,000) 14,844,036) 15,844,039) 2,614.659 149,877 19,362,518 22,127,051 Page 37

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the yoar endod 31 August 2023 17. Analysis of net assets between funds (continu•d) Ch anal assets between furKIs - rior ear Restricted funds 2022 as restatod General Deslgnated funds funds 2022 2022 as r•stalgd as rèstatèd Total funds 2022 as rostated Tanglble fixed assets Fixed asset inveslments Current assets Creditors due wlhln one year Long term liabilities 18.861,499 18,861,499 3,743,903 6,103,682 13,832,479) 2,100,000 11,947,585 1110,8421 (3,943,321} 14,880,981) 14.880,9811 3.743,903 2,271,205 15,969,676 21,984,784 18. P•n8lon ¢ommltm•nt8 2023 2022 Charge lo the stalemenl of financial actlvilles in respect of deflnad contribution sGhemes 170,482 117.444 A defined contribution penslon scheme is operated for all qualiflng employee8. The assets of the 8cheme are held separately from those rf the group in an independently administered fund. Induded within Other Creditors are oul8landlng commitments of £33,871 12022.. £21,0ty)1. 19, Op•ratlng lea8• commltmonl• Al the reporting date the group had oulslanding commilmenl8 for future minimum lease paymen18 under non- cancellable operating leases, as follows., Group 2023 Charity 2023 2022 2022 Wllhin 1 year Between 1 and 5 years 89,299 155,799 96,123 245,988 88,419 155,799 89,523 245,988 Total 245,098 342,111 244,218 335,511 20. Capltal comm5trnent8 Al the reportlng dale the group had ou151anding capital commilmenls, as follows.. Group and charlty: 2023 2022 within 1 year 3 92tl 534 Page 38

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the yèar ènded 31 August 2023 21. Reconclllatlon of group net Incomè to nèt cashflow from oporating activities 2023 2022 Nel movement In funds Tax credrts Financing costs Depreciation and impairment of langlble fixed a$$&ts Increase in stock IlncreaseyDecrea5e in debtors excluding taxation Decrease in creditors excluding taxation 1,245,535 447,913 12,050,983) 11,189,667) 185,859 119,826 469.412 439,811 {4411 8,955 1348,9111 {1,g68,1131 743,145 627,333 Nel cash generated froml lused in} operations 243,816 1,513,942 22. Subsld5arle8 Details of the group's subsidiaries at 31 August 2023 as follows.. Nam• of undortaklng R•glst•r•d Natur• of busln•us Cla88 of olfice 8hare8 holc Commercial trading Ordinary % Held Indlr•ct Olrect 100 The Old Vlc Servlces Company Limiled The Old Vic Theatre Company (The Cull Limited Th8alrical productior Ordinary 100 R•gS8t•r•d offic• addresses: The Old Vic, 103 The Cul, London, SE 8NB Page 39

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023 22. Subsidiari•s {Continued) Tho Old Vic Servlces Company Llmltod - 06753149 2023 2022 Summary profit and 1088 account Turnover Cost of sales Adminislralive expenses Other operating income Tax81ion Profil for th8 year Dlslribulions lo parent charity under gift aKI Retained in the company 3,483,047 12,361,979) 1447,4521 40,338 61,427 652,527 2,333,515 11,752,511) {311,0601 19,618 73,299 216,263 652,527 216,263 Net assets and ie8er¥e8 Fixed assets Current assets Current liabilities Nel assets 736 10,378.150 9,856.942 521.944 2,490 12,919.978 13,053.051 130,583 Share capllal and reserves 521,944 130,583 The Old Vlc Thfratre Compony {Th• Cutl Llmlted - 04725562 2023 2022 Summary proflt and108• acGount Turnover Cost of sales Adminislralive expenses Olher operating income Interest receivable and simllar Income Taxation Profil for the year Di$lrlbulion$ lo parent charity under gift aid Retsinad in the company 13,311,517 112.657,6661 (2,379,925) 9.345.330 17,060,S911 11,826,195) 2,960 2,173,838 450.724 1,262.966 1,721,510 450.724 1,721.510 Ngt a88ets and reserves Fixed assets Current assets CUr￿nt liabililles Net asset$ 11,479,830 8,209,299 3,270,531 6.305,752 2,591,637 3,714,115 Share Capital and reserves 3.270,531 3,714,115 Page 40

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For tho year ended 31 Auoust 2023 23. Rolated party transactlons The company has taken the exemptlon undor Sed'on 33 Related Party Disclosu￿$ paragrdph 33.1A from disdosing transath'on8 vAlh other members of a Ntholly ON￿ed grcyjp. During the year donations of £760,47212022.. £200,000) ￿Te received from eight12022.' one) Trustees of the charity and their dose family and rèl£led companies. Included in the group's other loans due over one year Is an amount of £1,000,00012022'. Other loans due less than Dne year £1,000,000) comprislng £500,000 payable lo one of the Trustees vtho served during the year and £500,000 payable lo a trust sel up by that Trustee. The loan has been provided unsecured and inl8rosl free. The son of one of the Tru$le9s vtho seryed during the y88r is a director of Granseal Limited. Granseal Limited have and continue lo provi¢Je the use of office space in the year and post year end dose lo The Old Vic theatre vthilsl the refurbishment works on tha bank of house are ongoing. The offlce space is provided for a IIGen8e fee of £1. Matthew Warchus, Artisti¢ Dirgclor. 18 a éirector of compani65 Smth thom the Group had Iransacllons in the year ending 31 August 2023.. 1. Whistle Plg. Whi8Ue Plg Ltd inv•slod £250,000 a8 a co-pmducer for Groundhog Day. £26,770 of c producer roy811ies w¢ffj payable lo Whistle Pig, of which £3,117 15 ou151anding 8131 Augusl 2023. Additionally, £407,756 is induded in accrual8 al 31 August 2023 relating to the return of the original-co producer inveslmgnl and share of profil on th8 Grounéhog Day production. 2. Pra￿e Point Productions Ltd. £135,247 was p8y8bla for eonlracted services for royalb'es and direcllng lees12022.. £96,890). £7,794 of this balance is oulslanding al 31 August 202312022. £nll). Page 41

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the yèar ended 31 August 2023 2￿ Trustee8 None of the Trustees lor any persons connected with them) received any remuneration or benefits from the charity during the current or prior year. No Tru51ees received any reimbursed expenses during the cuTr8nl or prior year. 25. Comparatlve SOFA Restricted Unreslricted Total Funds Funds 2022 as rastated as restated as restated Income from: Donati'ons 3,993,201 1,816,143 5.809,344 Charitab18 aclivilles Operation of theatre 6.727,754 8,727,754 Other trading a¢tlvilie$ Commer¢ial Iradlng operations 1.080.082 1,080,082 Total Income 3,993,201 9,623,979 13,617,180 Exp•ndltur• on: Raising funds Fundraising costs Commerclal trading operations 2,227 278 817,499 655,179 819,726 655,455 Charitable activit￿8 Operation of theatre Education and community programme 2,334.211 476.869 9,829,855 12,164.086 122,992 599.861 Interest payable and slmilar charges 119,826 119,828 Total Expandltur• 2,813,583 11,545,351 14,358,934 Not incom• 1,179,618 (1,921,372} 1741,754) Other recognised galns - theatre lax relief 1,189,667 1,189,667 Gross transfers b8lw8en funds 1591,079) 591,079 Net movement In fund8 588.539 {140.6261 447.g13 Reconclllatlon of funds: Fund balance3 brought forward 3,155,364 21,070,731 24,226,095 Fund balances carrled forward 3.743,903 20,930,105 24,674,008 Page 42

The Old Vic Theatre Trust 2000 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2023 26. Prior Yoar Adlustm•nt The prior ￿ar accounts for the Charity have been restated to recharge costs in ralalion to productSons which should have been borne by The Old Vic Threalre Company IThe CLJI) Limited, tolalling £433,444. As a result, th8 commissioning fee payable has also been restated by £460,866.The total impact of the reslalemenl on the Charity Statement of Financial Aclivi118s In the prior period is a movement of £894,310 resulting in a movement in deficit from £1,496,762 10 £604,456. The impacl on net assets of the ChaTiIy is an Increase from £21,090,478 to £21,984,788. There is no impact on the consolldaled Group accounts. 27. Llablllty of mom￿rn The charitable company is limited by guarantee and has no share capllal. Each member guarante85 10 contribute £1 in the event of a windlng up. Page 43