REPORT AND ACCOUNTS THE ROYAL VICTORIA HALL FOUNDATION 31st MARCH 2025
THE ROYAL VICTORIA HALL FOUNDATION REFERENCE AND ADMINISTRATIVE INFORMATION
Charity registration number
211246
Patron
Sir David Suchet CBE
Trustees
Miss Valerie Colgan (Chair) Ms Lolita Chakrabarti OBE Mr David Collier (Vice-Chair) Mr Brian Daniels Mr Peader Kirk Ms Katie Lancaster Mr Gerald Lidstone Ms Patricia Myers OBE Ms Vivienne Rochester Ms Elizabeth Sillett
The Clerk / Correspondence address
Mrs Carol Cooper 111 Green Street Sunbury-On-Thames Middlesex TW16 6QX www.rvhf.org rvhfoundation@ntlworld.com
Investment Managers
Rathbones 30 Gresham Street London EC2V 7QN
Accountants
Hogg Martin The Timbers, White Rose Lane Woking Surrey GU22 7JX
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THE ROYAL VICTORIA HALL FOUNDATION
TRUSTEES’ ANNUAL REPORT for the year ended 31 March 2025
The Trustees present their Report and the Accounts of the Charity for the year ended 31st March 2025.
The Royal Victoria Hall Foundation is a charity constituted by a Scheme of the Charity Commission of England and Wales sealed on 12 August 1983. It is administered and managed subject to and in conformity with the provisions of the Scheme by a body of Trustees.
The work of the Foundation is funded by a permanent endowment fund established from the proceeds of the sale of The Old Vic Theatre in 1982.
The Foundation is no longer legally or administratively connected to Old Vic Theatre, although retains fond historical links. The Foundation owns the Theatre’s archives since 1818 which are held at The University of Bristol Theatre collection and holds the annual Lilian Baylis Award ceremony at The Old Vic, by kind permission of the management.
The Royal Victoria Hall Foundation dates from 1891 when it held the freehold of The Old Vic Theatre. The Old Vic Theatre opened long before this, in 1818, when it was known as The Royal Coburg. In 1833, it was renamed The Royal Victoria Theatre to honour the new queen.
In the 1870s, Emma Cons bought the theatre and reopened it as The Royal Victoria Hall, from which the charity takes its name. This was a temperance venue, a tea and coffee house. They provided entertainment but also wanted to bring education to people who were excluded from proper schooling, as so many were in the Victorian age. Lectures were held backstage. This plan was financially supported by Samuel Morley. The educational programme was a great success and eventually developed into Morley College, which still provides highly regarded courses on Westminster Bridge Road, close to the Theatre.
In 1898 Emma Cons’ niece came to work at the Theatre, Lilian Baylis, after whom the Foundation’s awards are named. Lilian Baylis is one of the most important figures in British theatre, instrumental in establishing or strongly influencing the development of the National Theatre, The Royal Ballet, English National Opera and The Royal Ballet School. Baylis took over the Sadler’s Wells theatre in 1931 with the aim to make opera and dance more widely seen. It is these ambitions that The Royal Victoria Hall Foundation tries to support: helping to make theatre a valuable part of people’s lives.
Hundreds of performances from most of the biggest names in world theatre have been seen on The Old Vic stage. It was the home of Olivier’s National Theatre before it moved to its purpose-built site on the river.
Trustees
The Foundation has ten Trustees.
The Trustees meet twice a year in London. At these meetings the Trustees decide which grants to make and pass any other resolutions necessary for the running of the Charity.
Theatre companies staging a production in the Greater London area can apply for grant funding. Grants awarded are normally in the range of £500 to £2,000.
The Trustees listed on page 1 of this Report held office both during the reporting period and on the date the Report was approved.
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THE ROYAL VICTORIA HALL FOUNDATION TRUSTEES’ ANNUAL REPORT for the year ended 31 March 2025
Clerk
The Charity has one employee, The Clerk. The Clerk handles all the administration and correspondence of the Charity.
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The purposes of the charity as set out in its governing document
The Trustees are required to apply the income of the Charity in providing, or assisting in the provision of, facilities in Greater London for the education, primarily in the arts of music and drama, of persons who by reason of their social and economic circumstances have need of such facilities.
The main activities undertaken in relation to those purposes
The Trustees achieve those purposes by awarding grants to small scale professional theatre projects.
In order to target the limited resources of the Charity in an efficient and effective manner the Trustees concentrate on the funding of projects concerned with the performance and/or development of professional dramatic work which coincide with the Foundation’s charitable objectives.
The Foundation also funds the Lilian Baylis Awards for promising students who attend the accredited drama schools in London. These awards are made at the end of the students’ second year to ease the financial pressures in their final year of study. Each student is recommended for an award by their drama school.
The student nominated must exhibit the potential to make a significant contribution to the development of theatre and be experiencing some financial hardship in completing their studies.
The Charity maintains The Old Vic Archives. There is a separate, restricted fund, The Old Vic Archive Fund, which is held for this purpose. The Old Vic Archives are held at the University of Bristol Theatre Collection.
All grants are awarded in order to further the Charity’s aims for the public benefit.
How our grant awards deliver public benefit: A review of ACHIEVEMENTS AND PERFORMANCE
The benefits of the Foundation’s work are to invest in the future of theatre via the Lilian Baylis awards, help professional productions in need of financial support and to introduce high-quality live performance to groups who are not traditional or regular theatregoers.
The Royal Victoria Hall Foundation is committed to supporting and championing work that represents diverse people and perspectives, challenges bias and inequality (historical, systemic and cultural), and is inclusive and accessible for artists/producers and audiences.
To enable this, we strive to maintain a diverse and inclusive Board of Trustees; in terms of gender, race, ethnicity, age, ability, religion/belief and LGBTQI+ identities.
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THE ROYAL VICTORIA HALL FOUNDATION
TRUSTEES’ ANNUAL REPORT for the year ended 31 March 2025
The trustees are pleased that the grants awarded during the year deliver public benefit as follows:-
On the nomination of the relevant drama schools, Lilian Baylis Awards of £2,000 to:
Tobias Adetula, LAMDA Shani Bent, Guildhall Nina Bricard, East 15 Sanjay Burnett, Central Shannon Cockle, Rose Bruford Annelise Heywood, Artsed Mya Reed, Mountview Frank Roome, RADA Amara Statham, Italia Conti Charlotte Wallis, Drama Studio
The Awards were presented by David Harewood OBE at a ceremony at The Old Vic on 30 May 2024.
£2,000 to Clean Break Theatre towards Trials and Passions of Unfamous Women at Brixton House in June 2024.
£1,000 to Arcola Theatre towards The Book of Grace at the Arcola Theatre in May 2024.
£1,500 to Fifth Word Theatre towards Liberation Squares at Brixton House in May 2024.
£2,000 to Wayward Productions towards Princess Smartypants at the Lyric Studio Theatre in May and June 2024.
£2,000 to Donmar Warehouse towards schools’ performances of The Cherry Orchard April to June 2024.
£1,000 to Artemis Theatre towards The Rainbows End at the Courtyard Theatre in June 2024.
£1,920 to Southwark Playhouse towards Windrush Child touring to 26 schools in Lambeth and Southwark in June 2024.
£2,000 to Fuse Theatre CIC towards Follow the Signs at Soho Theatre September to October 2024.
£2,000 to Kiln Theatre towards Peanut Butter and Blueberries at the Kiln Theatre in August 2024.
£1,500 to Papatango Theatre towards Some Demon for their London run at the Arcola Theatre June to July 2024.
£2,000 to Fuel Productions towards There’s a Bear on my Chair at the Southbank Centre in February 2025.
£1,000 to Shybairn Theatre towards This is What Utopia Looks Like at Camden People’s Theatre in October 2024.
£2,000 to Omnibus Clapham towards The Ice at the End of the World at Omnibus Theatre September and October 2024.
£750 to Arts Trust Productions towards Fire Songs at King’s Place in August 2024.
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THE ROYAL VICTORIA HALL FOUNDATION
TRUSTEES’ ANNUAL REPORT for the year ended 31 March 2025
£2,000 to Poltergeist Theatre Ltd towards Alice in Wonderland at Brixton House November 2024 to January 2025.
£1,000 to Broccoli Arts Ltd towards Tender at the Bush Theatre November to December 2024.
£1,000 to Hampstead Theatre towards their £10 ticket scheme.
- £1,000 to How It Ended towards The Fir Tree at the Arts Depot in December 2024.
£1,000 to Theatre Peckham towards Pan at Theatre Peckham in December 2024.
£1,000 to St Paul’s Arts Trust (The Space) towards A Kiss for Cinderella at The Space in December 2024.
£1,000 to Alternative Theatre (The Bush) towards Lavender, Hyacinth, Violet, Yew at the The Bush Theatre February to March 2025.
£1,000 to Blue Elephant Theatre towards Mrs Claus’ List in December 2024.
£2,000 to Finborough Theatre towards Belly of the Beast at Finborough Theatre in January and February 2025.
£1,000 to Oily Cart towards When the World Turns at Chat’s Palace and Southwark Centre in February 2025.
£2,000 to Old Vic Theatre towards Hundred Feet Tall touring to libraries and community centres in Inner London in April 2025.
FINANCIAL REVIEW
The Foundation’s work is reliant on investment income from its permanent endowment fund. Our Investment Managers are instructed to maintain the future income potential of the permanent endowment fund whilst generating sufficient income on an annual basis for our grant making activities. The Trustees are satisfied that these objectives have been met during the year.
Policy on reserves
Unrestricted fund reserves are maintained at a level which is equivalent to at least six months operational expenses. At the six monthly Trustees meetings, reserves are reviewed so as to establish the surplus reserves. Half of the amount of the annual Lilian Baylis awards are set aside out of this surplus. Grants are then awarded to suitable applicants out of the remaining surplus.
This report was approved by the board of trustees on 21 October 2025
DAVID COLLIER Vice-Chair
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THE ROYAL VICTORIA HALL FOUNDATION INDEPENDENT EXAMINER’S REPORT to the Trustees of THE ROYAL VICTORIA HALL FOUNDATION
I report to the trustees on my examination of the accounts for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
WENDY HOGG Of HOGG MARTIN, Accountants The Timbers, White Rose Lane Woking Surrey GU22 7JX
21 October 2025
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THE ROYAL VICTORIA HALL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2025
| Notes Income from: Investments Other Total income Expenditure on Charitable activities: Grants payable 2 Management & administration 3 Investment management costs Total expenditure Net income / (expenditure) Other recognised gains / (losses) Gains / (losses) on investment assets Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted Restricted Endowment Total Total Fund Fund Fund Funds Funds 2025 2025 2025 2025 2024 £ £ £ £ £ 82,248 4 - 82,252 78,445 - - - - 75 |
|---|---|
| 82,248 4 - 82,252 78,520 |
|
| 56,670 - - 56,670 60,492 17,405 - - 17,405 17,858 - 4 25,035 25,039 18,519 |
|
| 74,075 4 25,035 99,114 96,869 |
|
| 8,173 - (25,035) (16,862) (18,349) - 125 (110,530) (110,405) (61,180) |
|
| 8,173 125 (135,565) (127,267) (79,529) 29,781 3,067 1,258,139 1,290,987 1,370,516 |
|
| 37,954 3,192 1,122,574 1,163,720 1,290,987 |
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THE ROYAL VICTORIA HALL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2025
Analysis of prior year funds
| Notes Income from Investments Other Total income Expenditure on Charitable activities: Grants payable 2 Management & administration 3 Investment management costs Total expenditure Net income / (expenditure) Other recognised gains / (losses) Gains / (losses) on investment assets Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Prior year Prior year Prior year Prior year Unrestricted Restricted Endowment Total Fund Fund Fund Funds 2024 2024 2024 2024 £ £ £ £ 78,441 4 - 78,445 75 - - 75 |
|---|---|
| 78,516 4 - 78,520 |
|
| 60,492 - - 60,492 17,858 - - 17,858 - 4 18,515 18,519 |
|
| 78,350 4 18,515 96,869 |
|
| 166 - (18,515) (18,349) - 93 (61,273) (61,180) |
|
| 166 93 (79,788) (79,529) 29,615 2,974 1,337,927 1,370,516 |
|
| 29,781 3,067 1,258,139 1,290,987 |
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THE ROYAL VICTORIA HALL FOUNDATION BALANCE SHEET as at 31 March 2025
| Note FIXED ASSETS Investments 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand LIABILITIES Creditors: Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL NET ASSETS FUNDS 8 Endowment fund Restricted fund Unrestricted fund TOTAL CHARITY FUNDS |
1,582 38,982 |
2025 £ 1,125,766 37,954 1,163,720 1,122,574 3,192 37,954 1,163,720 |
2,353 29,948 |
2024 £ 1,261,206 29,781 |
|---|---|---|---|---|
| 40,564 2,610 |
32,301 2,520 |
|||
| 1,290,987 | ||||
| 1,258,139 3,067 29,781 |
||||
| 1,290,987 |
The accounts were approved by the Trustees on 21 October 2025
DAVID COLLIER Vice-Chair
PEADER KIRK
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THE ROYAL VICTORIA HALL FOUNDATION NOTES TO THE ACCOUNTS for the year ended 31 March 2025
1. ACCOUNTING POLICIES
Basis of preparation and accounting convention
The accounts have been prepared under the historical cost convention (except for investments which are included at fair value) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts under the Financial Reporting Standard (FRS102) and applicable charity law.
Income
All income derives from investments. Investment income is dealt with in the accounts when receivable.
Liabilities and expenditure
Grants payable are recognised as expenditure when the conditions attached to their payment are met. Management and administration expenses are accounted for on an accruals basis. Investment management costs are accounted for when they are charged to the funds.
Tangible fixed assets
Tangible fixed assets for use by the charity which cost less than £1500 are not capitalised.
Heritage assets
Heritage assets are not recognised on the Balance Sheet.
Fixed asset investments
Investments are initially recognised at their transaction value and are subsequently measured at fair value which is the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
2. GRANTS PAYABLE
Grants payable during the year are detailed in the Trustees’ Annual Report on pages 4 and 5.
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THE ROYAL VICTORIA HALL FOUNDATION NOTES TO THE ACCOUNTS for the year ended 31 March 2025
3. MANAGEMENT AND ADMINISTRATIVE EXPENSES
| Staff costs: Salaries Accountants' fees Insurance Print, post and stationery Computer / website expenses New computer Lilian Baylis awards Meeting expenses Other expenses Average number of employees |
Unrestricted Fund 2025 £ 11,617 2,610 493 620 797 - 905 342 21 17,405 1 |
Unrestricted Fund 2024 £ 11,390 2,520 537 812 648 805 894 252 - |
|---|---|---|
| 17,858 | ||
| 1 |
4. HERITAGE ASSETS NOT INCLUDED IN THE ACCOUNTS
The Foundation owns The Old Vic Theatre archives since 1818. These are housed at The University of Bristol Theatre Collection.
The original cost and current value of the Old Vic Theatre archives is not known. The trustees are of the opinion that the cost of undertaking a formal valuation of these assets would not be commensurate with the benefit to the users of these accounts. For this reason, The Old Vic Theatre archives are not recognised on the Balance Sheet on page 9.
5. INVESTMENTS
| Fair value brought forward at 1 April 2024 Additions to investments at cost Disposals at carrying value Gain on revaluation and disposal Fair value as at 31 March 2025 |
Listed investments £ 1,261,206 1,245,488 (1,270,523) (110,405) |
|---|---|
| 1,125,766 |
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THE ROYAL VICTORIA HALL FOUNDATION NOTES TO THE ACCOUNTS for the year ended 31 March 2025
6. DEBTORS
| Other debtors Prepayments 7. CREDITORS: amounts falling due within one year Accruals |
2025 £ 1,342 240 1,582 2025 £ 2,610 |
2024 £ 1,942 411 |
|---|---|---|
| 2,353 | ||
| 2024 £ 2,520 |
8. FUNDS
The charity’s permanent endowment is held within a Capital Endowment Fund in accordance with Scheme rules. The investment income arising on the Capital Endowment Fund is taken to the Accumulated Fund, an unrestricted fund available for the general charitable purposes of the Foundation.
The charity holds a restricted fund to be expended at the discretion of the trustees for the purpose of the preservation and the storage of The Old Vic archives.
At 31 March 2025 the assets and liabilities of each fund are represented as follows:
| Investments Net Current Assets |
Accumulated Old Vic Endowment Fund Archive Fund Fund Total £ £ £ £ - 3,192 1,122,574 1,125,766 37,954 - - 37,954 |
|---|---|
| 37,954 3,192 1,122,574 1,163,720 |
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THE ROYAL VICTORIA HALL FOUNDATION NOTES TO THE ACCOUNTS for the year ended 31 March 2025
9. CONTINGENT LIABILITY
The Foundation has agreed to pay the Clerk a pension of half of her salary in the event of her retirement. The Clerk is already past normal pensionable age and does not intend to or wish to retire. Should a pension become payable to the Clerk in the future this pension would be unfunded. Any pension would be paid by the Foundation out of unrestricted income as it becomes due, alongside the salary of the next Clerk.
10.TRUSTEES’ EXPENSES AND REMUNERATION
The trustees all give freely their time and expertise without any form of remuneration or benefit in cash or kind (2024 £nil). Trustees’ travel expenses reimbursed in the year totalled £148 (2024 £153).
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