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 - 1 - ## **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. - 2 - ## **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. - 3 - ## **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. - 4 - ## **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 - 5 - ## **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: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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 - 6 - ## **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| - 7 - ## **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| - 8 - ## **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 - 9 - **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. - 10 - ## **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| - 11 - ## **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| - 12 - ## **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). - 13 -