KING GEORGE V FUND
FOR ACTORS AND ACTRESSES
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER, 2024
(Charity Registration No. 2107401

Pag8 1
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
LEGAL & ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER, 2024
Charity registration number
210740
Trustees
Sir Timothy Laurence KCVO CB (President)
Miss Samantha Bond
Mr Neil Pearson
Mr Ben Seale
Commltte• Members
Dame Eileen Atkins DBE
Miss Sarah Berger
Miss Selina Cadell
Lt. Col. Robert Cartwnght LVO
Miss Dona Croll
Miss Joanna David
Mr. Clive Francis
Mr. Jamie Glover
Mr Julian Glover CBE
Miss Caroline Hafker
Miss Joanna Johnston
Miss Gemma Jones
Dame P8nelope Keith DBE DL
Miss Sara Kestelman
Mr. Art Malik
Mr. Hugh Quarshie
Mr Malcolm Sinclair
Miss Emma Vansittart
Mr Simon Williams
Mr. Tam William8
Secretsry and Treasurnr
Mr. J.S. Mccuin Bsc FCA
Registered Addms
10 Orange Stre8t,
London, WC2H 7DQ.
Corrospondence Address
21 Repton Gardens. Gidea Park,
Romford, Essex. RM2 5LS
E4nall: mccuinj@outlook.com
Bankern
National Westminster Bank plc
250 Regent Streèt,
London, W1B 3BN
Independent Examiner
Mr. T. Clarke Bsc FCCA CTA of SRG LLP
10 Boli Court.
London, EC4A 3DA
Investment Advisers
Rathbones Incorporating Investec Wealth & Investment Limited
30 Gresham Street.
London. EC2V 7QN

Page 2
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
TRUSTEES. REPORT
FOR THE YEAR ENDED 31ST DECEMBER, 2024
The Trustees are pleased to present their rep)rt together wrth the financial statements of the
Charity for the year ended 31st De￿rnber 2024. The finanaal statements ¢omply with the
Constitution originally approved in 1913 and revised in 1997, applicable law and the Statement of
Recommended Practice.. Accounting and Reporting by Charities applicable to Charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland {FRS 102) - Charty SORP published in July 2014.
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The Fund was set up in 1911 by King George V spectfically to provide and pay Grants to British
Actors and Actr8ss8s (a) who have rendered such service to the acting profession as to ment
recognition, and (b) who, through allered circumstances, are in a position to require such
assistance.
To meet these Objects and Activiti8s, the Fund has to generate income and capital growth from its
investments. By paying Grants to Actors and Actresses who require financial assistance, the Fund
hopes the recipients will b8 ablè to stay in their own homes longer and not become a burden on the
State. The Trusteès confirm that they have referred to the guidance contained in the Charity
Commission guidanc8 on public benefit wh8n reviewing the Fund's aims and objectives and in
planning the activities arKI Grant making policy for the year.
STRUCTURE, GOVERNANCE. MANAGEMENT AND GRANT MAKING POLICY
Under the Constitution approved in 1913. the Fund has at least three Trustees and a Committee of
at18ast sixteen and not more than tsventy-four of whom a prOpo￿On of not less than three-fourths
shall be members of the Theatrical Profession. The day-to4ay management of the Fund is vested
in Ihe Trustees and the Committee The Constilution was revised and approved by the Court at
their meeting on 19th November 1997.
The names of the Trustees and the members of the Committee at the date of this report are shown
on page 1. All Trustees and Commrttee members served throughout the year except that Miss Cleo
Sylvestre served until her unlimely death on 20 September 2024.
The Trustees are nominated by the Commttte8. Their re-appointment is considered annually at the
Court meeting held in December. The Trustees and Committee meet 3 times a year and agree the
broad strategy and areas of artivity for the Fund. induding consideration of Grant making.
investment, reserves and risk manag8ment policies and perfomiance. The day-to-day
administration is delegated to the Secretary￿reaSurer.
All Trustees and Committee members are familiar with the practical work of the Fund. Following their
nomination, new trustees are invited to attend a training session to familiarise themselves with the
charity and the ¢onlext ￿￿thin which rt operates. These cover:
The main obligations of the Trustees.
Resourcing and the Current financial position as set out in the latest published accounts.
Future plans and objectives.

Page 3
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
REPORT OF THE TRUSTEES - CONTINUED
FOR THE YEAR ENDED 31ST DECEMBER, 2024
RISK MANAGEMENT
The Trustees have idenlffied the major nsk to which the Fund is expos8d as being poor inv8Stment
performance This risk has been mrtigated by ensuring that a diversified investment portfolio is held
and that the investmenls are fully maintained by a qualified investrnènt manager and regularly
reviewed by the Trustees and Committee.
The Trustees have reviewed the investment values since the year 8nd which are still being
impacted by the global economic and political problems and are pleased that the Fund's
investments are still maintaining their overall value despite the continuing global financial problems.
The Trustees will continue to regularly review the Investsnent values and to monitor the
performance of the Investment Advisers in the months to come.
INVESTMENT POLICY AND PERFORMANCE
The management of the Fund's investments on a day4iMlay basis is delegated to its investment
advisers. The guidelines that have been set down a￿ for both income and capital growth with an
overall balanced risk. During the y8ar our investment advisers were Rathbones incorporating
Investec Wealth & Investment Ltd. Fomal meetings are held with the investment advisers three
times a year to ensure that their work is properly monrtored, and the Committee remains confident
in their day-to-day management of the Fund's investments. The perfomiance of the investment
portfolio is shown in the financial statements The UK Stock Markèt continued to have a very
difficult time during 2024. Our portfolio showed an overall Increase in value of 8.2% net of fees
(2023.. increase of 7.0%).
RESERVES POLICY AND PLANS FOR THE FUTURE
The Fund maintains a single general reserve which is used to pay Annual Grants In accordance
with its charrtable obj'ects.
The Trustees hope to be able to continue to pay out at least £175,000 per year as Annual Granls
and, in order to do this out of the income of the Charity, the Trustees t*lieve they need a reserve of
al least £2,000,000 It is therefore the wish of the Trustees to build up the reserves to this level and
above over the next few years. The Trustees realise that, at present, the reserve is rather lower
Ihan the required level and that they are dependent on the receipt of further grfts and legacies and a
ntinued improvement in the perfomiance of the investment portfolio, which, in the current
economic climate, Is not certain.
MONITORING ACHIEVEMENTS AND FINANCIAL REVIEW
During the year under review the value of the Fund increased to £1,682,324 {2023.' £1,666,412} as
shown on page 6 of the financial statements. The Fund was able to make grants to 3512023.. 43)
Feople totalling £167,375 {2023.' £184,425).
During 2024 the UK investment market saw some positive movements but the UK and world
economic situation remains very Un￿rtaIn. Since the year end, global markets have been very
erratic following the lariffs imposed by the USA. However. the Trustees can report that the portfolio
had fallen in value by little more than 1 % by the middle of May 2025. The Trustees believe that the
investment advisers are continuing to perform well in very challenging times.
The Charity is a 500A residuary legatee in the Estate of Sir Terence Rattigan deceased. The assets
of the Estate have been transferred to the Sir Terence Rattigan Charitable Trust and our Secretary,
Mr John Mccuin is a Trustee of that Trust to represent this Charty. Mr Simon Williams Is also a
Trustee of the Sir Terence Rattigan Charitable Trust. The income from this Charitable Trust was
£10,000 during the year (2023.. £10,000). It is hoped that the income from Sir Terence Rattigan's
copyrights again will rise in this Gu￿ent and future financial years.

Page 4
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
REPORT OF THE TRUSTEES- CONTINUED
FOR THE YEAR ENDED 31ST DECEMBER, 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Fund's Twstees are responsible for preparing the trustees. annual report and the financial
slalements in accordance wrth applicable law arKI United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice).
Th8 law applicable to charities in England and Wales requires the Trustees to prepare financial
statements for each year which give a true and fair view of the state of affairs of the charity and of
the income and expenditure of the charty for that period. In preparing the financial statements, the
Trustees are required to..
sdect suitable accounting policies and then apply them consistently.,
observe the methods and principles in the applicable Charrt￿S SORP,
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject to any
departures disclosed and explained in the financial statements., and
prepare the financial statèments on a going ¢on¢em basis unless rt is inappropnate to
presume that the charty will continue in business.
The Trustees are responsible for keeping accounting records that disclose with reasonab18
accuracy at any time the financial position of the charity and to enable them to ensure that the
financial statements comply with the Chanties Act 2011, the applicable Charities (Accounts and
Reports) Regulations and the provisions of the Fund's Constrtution. They are also responsible for
safeguarding the assets of the chanty and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularitj'es.
The Trustees are responsible for the maintenance and integrity of the charity and financial
information included on the charity's website in accordance with the legislation in the United
Kingdom goveming the preparation and dissemination of financial statements.
Approved by the Tru8teas o
ay 2026 and Signed on their behalf by:
Slr Timothy Laurenco
Presldont

INDEPENDEKf EXAIII
EFfS REPORT TO THE TRUSTEES OF
Pap5
KING GEORGE V FU
D FOR ACTORS AND ACTRESSES
I report to ￿ tru8tees on my examlnation
tr* acc￿￿￿ of ts Fund for the year ended 31
6t012.
nd Examln•r
conaidor that an audit i• not required for th.
(the 2011 Act) and that ￿ wthpondont ex
It i• my ruponilbllty to:
year (under 80c*ion 144 (2) oits Charit￿* Act 2011
examine th• accow)ts (￿jer
to fr￿loW the wocodurn8 lahJ d
Comml88ionern under section 145(
to 8tate whether partkular mattern
145 ofthe 2011 Att.
in tho General Direthw by th8 Charlty
)(b) of tho 2011 Act., and
ave como to my attanllon.
Ba•h of In*•nd•nt EX￿In•￿• r•port
My examinatlon wrO•d +Xrt in accNd
Comm1885oner8. An examlnatlon Indude•
arKI a c¢ynparl8on of ts account8 pre8e
any Un￿u81 ￿ern8 or dl•clo8um In tho
tru8tee• concemlng any 8uch mattern.
evld8nc• that would bo reqLArod In an
vAth ts ¢knl Dlr•th glven by the Charlty
reviThv of tho r8cord8 keFI by tho d￿rity
vthh thoae record8. tt al￿ Incl￿￿•9 conlideratlon ol
)unts, and 8eeklng of •xplanatl(Th from you 88
ocedur88 Undertak￿ do not wovkle all th•
arKI cmaequenty no opinion l• glven a• to wh￿her
th• r•port18 Ilmlled to thow matter8 ••t out in the
•tstam•nt bolcm.
Ind•p•nd•nt EX￿In•￿*
In conn•clion wSth my •xamlnaIl￿. no m
m6 cau8e to ￿lIeVe that, wi any materfal
the accounting rec(￿ were not ke
the accounts did not accord w*h
the accounts dkl not comply with th
of accounts set in the Charities
requlrement that th accounts give
p•rt of an Indewrth examination
al mattern hm como lo my attth whKh giv
in accorda￿% with 8ectlon 130 of 2011 A¢. or
accountlTrJ re¢ord•', or
appllcable r•qiirements concamlng th• fomi and cmtent
Accourrt8 arKI Reports) Regulatlon¥ 2008 other than Rny
lalrf whlch i• ncA a mattor cor*id•r•d
whlch attention shoukl ￿ drawn in th1$
o i*ffjr matter8 In connectk)n wlth the exarnlnatlon to
rt In order to enable a proper ￿derStandInG of the
Ind•p•nd•nt Ex•mlMr
Name.. T. CLIRKE
Relev￿ profeuional qualificatM)n or body
Addrg88: SRG LLP, 10 Bdt c(￿rt, Lorthn
FCCA
EC4A 3￿4
Jum 21r25

Page 6
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER, 2024
2024
2023
INCOME
Donations and Legacies
Investment income
Other income
61,700
26.343
2.669
72,905
26,511
1,291
Total Income
90,712
100,707
EXPENDITURE
Cost of raising funds..
Investment management fees
15,487
15,096
Expendrture on charitable activities..
Grant making
183.645
200,673
Total Expendlturn
199,112
215,769
NET INCOMEI(EXPENDITURE) AND NET
MOVEMENT IN FUNDS BEFORE GAINS
AND LOSSES ON INVESTMENTS
(108.400)
1115,Ce2)
NET {DEFICITSyGAINS ON
INVESTMENTS
124,312
100,905
NET MOVEMENT IN FUNDS
15.912
114,157)
RECONCILIATION OF FUNDS
Total funds brought forward
1,666.412
1,680,569
TOTAL FUNDS CARRIED FORWARD
£1,682,324
£1,666,412
Th& notes on pages 8 to 12 fomi part of these financial statements.

Page 7
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
BALANCE SHEET
31ST DECEMBER, 2024
2024
Unrestricted
Funds
2023
Unrestricted
Funds
Notes
FIXED ASSETS
Investments
1,677,772
1,663,321
CURRENT ASSErs
Debtors
Cash at bank
3.558
3.540
5,648
2,620
Total Current A*•ots
7,098
8.268
LIABILITIES . Credltors falllng due
wlthln one year
Accruals
10
5,177
NET CURRENT ASSETS
4,552
3,091
NET ASSETS
£1.682,324
£1,666,412
THE TOTAL FUNDS OF THE CHARITY:
Unrestricted income funds
£1.682.324
£1,666,412
Approved by the Trustees and Commrtlee on
May 2025 and signed on their behalf by..
Sir Timothy Laurenc•
President
The notes on pages 8 to 12 fom part of these financial statements.

Page 8
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
NOTES TO THE FINANCIAL STATEMENTS
31ST DECEMBER. 2024
ACCOUNTING POLICIES
1.1 Basls of Preparatlon and Assessment of Golng Concern
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otherwise staled in the relevant not8(sl to these
accounts The financial statements have been prepared in accordance with the Statement of
Recommended Practice. Accounting and Reporting by Charities prepanng their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 1021 Charity SORP {Second Edition
October 2019) and the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Fund constitutes a public benefrt entity as defin8d by FRS 102.
The Twstees Consider that there are no matèrial uncertainties about the Fund's ability lo
continue as a going concern. There are no sTrgnifi¢ant areas of judgement or key assumptions
that affect items in the financial ststements other than those included within the accounting
policies described below.
The Tru8t8e8 have taken advantage of the disclosure exemption in respect of the requirements
of Section 7 'Statement of Cash Flows, in preparing these financial statements as permitted by
FRS 102 and the Charities SORP (FRS 102) Update Bulletin 1.
1.2 Incom• r•¢ognltlon
All income is recognised once the Fund has entitlement to the in¢om8, It is probable that the
income will be received and the amount of income re￿1vable can be measured reliably.
Donations are recognised when the Fund has been notified in writing of both the amount and
the settlement date. In the event that a donation is subject to conditions that require a level of
performance before the Fund is entitled to the funds. the income is deferred and not
recognised until either those condrtions are fully met or the fuffilmenl of those conditions is
wholly within the control of the Fund and rt is probable that those conditions will be fulfilled in
the accounting period.
Legacy gifts are recognised on a case-by-¢as8 basis following the granting of probate when
the administratorlexecutor for the estate has communicated in writing both the amount and the
settlement date In the event that the gift is in the form of an asset other than cash or a financial
asset traded on a recognised stock exchange, recognition is subject to the value of the gift
being reliably measurable wrth a degree of reasonable accuracy and the title to the asset
having been transferred to the Fund.
Inlerest on funds held on deposit is included when receivable and the amount can be
measured reliably by the Fund. This is nomially upon notification of the interest paid or payable
by the bank. Dividends are recognised once the dividend has been received by our investment
broker.

Page 9
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
31ST DECEMBER, 2024
1.3 Expenditurn
All expenditure is included on an accruals basis and is recognised when there is a legal or
constwctive obligation to pay for th8 6xpendrture.
Charita￿e expenditure comprises Grants which are provided for when approved by th8
Twstees and Commbttee. Support costs which are identifiable as wholly or mainly in support of
the Fund's objectwes are paid when they arise and are approved.
1.4 Allocatlon of support and govomance costs
Governan￿ costs compnse all costs involving the public accountability of the Fund and it8
compliance wrth regulation and good practice.
Gov8mance costs relating lo charitable activities have been apportion8d based on Ihe time
8pent on grant making activities.
1.6 Irrecoverable VAT
Irrecoverable VAT is charged against the expendrture heading for which it was incurred.
1.8 Not Galn*l(LoMe•) on InV￿tments
The r8ali8ed gain or loss ansing on the sale of an investment is calculated as the differenc8
be￿n the sale proceeds received and the market value al the previous 31 st D8C8mb8r or
the cost if purchased during the year. The unrealised gain or Ios8 is the adjustment r8quir8d to
State investm8nts at their market value at the year end. Realised and unrealised investment
gains and Ioss88 are Combined in the Statement of Financial Activit￿8.
1.7 Invostments
The investments held by the Fund as at 31st De￿mber are induded in the balance sheel at
fair value The Stat8ment of Financial Activrties includes the net gains or losses arising on
r8valuation.
1.8 Taxatlon
The Fund is not lia￿8 to taxation on any surplus of income over expendrture and can recover
tax suff8r8d on donations received under Gift Aid.
1.9 Unrestricted Funds
A single unrestricted fund is maintained and is used to pay Grants to those in need as
described in accounting policy note 1.3 and in accordance wrth the Reserves Policy shown in
the Trustees, Report.

KING GEORGE V FUND FOR ACTORS AND ACTRESSES
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
31ST DECEMBER, 2024
Page 10
DONATIONS AND LEGACIES
2024
2023
Donatlons
Acting 4 Others
Other
35,000
16,700
35,000
25,225
51,700
60,225
Legacles
Sir Terence Rattigan Charitable Trust
Other Legacies
10,OCM)
10,OCrf)
2,680
10,000
12,680
£61,700
£72.905
INVESTMENT INCOME
2024
2023
Dividends and int8r8St received (Gross.. £25.330
Less.. Overseas Wrthholding Tax £606)
{Note. All investment income arises from investments
quoted on the London Stock Exchange)
Bank interest receivable on cash deposits
24,724
25,516
1,619
995
£26,343
£26,511
OTHER INCOME
Royallies received
Ivor Novello Charrt￿8 Limrted- Dissolved in 2024
2,669
375
916
£2,669
£1,291
ANALYSIS OF CHARITABLE EXPENDITURE
Grants mad•
187,375
184,425
Governance costs:
Professional fees - see note 6 below
Independent Examinerfs Fee
Bank charges
Sundry, websrte and postage - se8 note 6 below
13,OtXJ
2,520
225
525
13,000
2,400
225
623
£183,645
£200,673
During the year, tharitsble Grants were made to 35 people under the tenns of the Fund's
charitable charter (2023. 43 Feople)- As the Fund has only on8 charitabl6 activrty, it is the
opinion of the Trustees that all the govemance costs should be allocated to that aclivrty.

Page11
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED
31ST DECEMBER, 2024
TRUSTEE AND STAFF REMUNERATION
The Fund employs no direct staff. No Trustee or Committee m8mber received any
remuneration (2023.. £Nill. No Trustee or member of the Committee received any reimbursed
expenses (2023.. £Nil). The professional fees were paid to Mr Mccuin for his a¢¢ountancy and
general financial assistsnce on the affairs of the Fund.
RELATED PARTY TRANSACTIONS
Mr Seale is a truslee of Acting 4 Others {see Note 2 above) but receives no benefrt from his
trusteeship. Mr M¢Cuin and Mr Williams ar8 trustees of The Sir Terence Rattigan Charitable
Trust and directors of Ivor Nov811o Charities Ltd (Dissolved in March 2024) bul receive no
benefits from either organisation for their services as trustees and directors. Mr Mccuin
received a fee from Ivor Novello Char￿.eS Ltd in his professional capacity as the accountant.
(See Notes 2 & 4 above).
INVESTMENTS
2024
2023
At 1st January, 2024
Net disposals and withdrawals
Nel IncreasellDecrease) on Revaluation
1,663,321
(109,861)
124,312
1,672,106
1109,690)
100,905
At 31 st DecemLNryr, 2024 at market value
£1.677,772
£1,663,321
At 31st December, 2024 at cost
£1,385,043
£1,443,705
The investrnents are Garried at their fair value and are all lisled on recognised stock ex¢hanges
and include bank and cash balances held by the brokers for the purpos8 of reinvestment. At 31 st
December, 2024 these bank and cash balances bvere £7,99912023.' £36,800}. The value8 were
all detemiined using nonnal valuation winciples by the investment broker at the year end.
At the year end, three investments comwsed more than 5% of the portfolio by value, Credit AGR
amounting to £103,479. Blackrock Fami Ltd amounting to £87,249 and Ishares lil PIC amounting
to £100,241.
The significance of the investment portfolio on the ongoing financial sustainability of the Fund is
considered in the financial review and investment policy and perfomiance sections of the
Trustees, Report.
The main risk to the Fund from the investment portfolio lies in the combination of uncertain
investment markets and volatilty in yields. The Fund maintains a very wide and diversified
portfolio which is regularly reviewed by our investment brokers. 2024 saw significant swings in
valuation. The ￿turn on bonds has teen higher and further fijnds have been invested in fixed
interest securities. The Fund is partly reliant on diV￿end yield to finance its work and in 2024 the
market saw a continu8d steadiness in dividend yield It is hoped that 2025 will see a rèturn to
higher dividend yields. The Fund has greater exFosure to intemational companies, the values of
which. together with their yield are exposed to exchange rale risk when converting the holdings
into steding. The OLrtlook for the sterfing exchange rate is that it is anticipated to stay low as
foreign economies strengthen. A weakening in the exchange rate will continue to improve sterling
returns from foreign currency denominated holdings.

Page 12
KING GEORGE V FUND FOR ACTORS AND ACTRESSES
NOTES TO THE FINANCIAL STATEMENTS- CONTINUED
31ST DECEMBER, 2024
Liquidity risk is anticipated to be low as all assets are easily traded and the Fund has no
investments that are subject to exchange controls or trading restrictions.
The Fund manages these investment risks by retaining expert advisers and operates a policy that
provides for a high degree of diversification of holdings within investment asset classes that are
quoted on recognised stock exchanges.
The geographical split of investments is as follows.'-
2024
2023
United Kingdom
Overseas
703,508
974,266
749,889
913,432
£1,677.772
£1,863.321
DEBTORS
Dividends receivable
Interest receivable
Gift Aid recoverable
2,050
13
3,585
1,560
£3,558
£5,648
10. ACCRUALS
Independent examination
Grants payable
Bank charges
2,520
2.400
2,750
27
26
£2.546
£5,177