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Dateline: 9th September, 2004
NT Turns Planned Deficit to Surplus At the beginning of the financial year 2003-4, the Board of the National Theatre agreed a deficit budget of half a million pounds, recognising that there would be an increase in grant in aid from Arts Council England of over one and half million in April 2004 and over £900,000 in 2005 but the 2003 increase would just cover inflation. In the event the 2003-4 Annual Report shows that the organisation made a net surplus of £48,000 after transfers to reserves, meaning that it went into the new financial year which started in April 2004 with reserves of £205,000. The profit/loss account for the year gives the following information:
During the year there were 340 performances in the Olivier, 349 in the Lyttelton and 369 in the Cottesloe, a total of 1,058. Although there have been more performances in previous years (1098 in 1999-200 and 1,188 in 2002-3), the percentage of paid attendances reached record levels, as the following table shows:
ExpenditureTotal expenditure for the year on staging productions, touring, developing new work at the Studio and amplifying the National’s work through the Education department and the programme of events and Platforms was £24 million. This expenditure is funded by unrestricted operations of £20.5 million and by restricted income of £3.3 million. The largest production spend in the year was on His Dark Materials which ran for 120 performances. This will be revived in 2004, providing the opportunity for a further return on the investment in the production cost. FundraisingAll of the work described on these pages makes the NT a vibrant and vital centre of excellence. But it also costs money. Although the NT receives support from Arts Council England, this amounts to just over one third of our total expenditure. The NT maintains a healthy income from tickets and trading activities, but needs to raise nearly £4 million every year through fundraising just to maintain current activities. The Development department communicates the case for giving to the NT and the opportunities available for involvement in the work to the individuals, companies, charitable trusts and foundations that could become supporters. One of the highlights of the year was the success of The Travelex £10 Season in the Olivier Theatre. The Season enabled many more people than ever before to afford theatre of the highest quality and it simply would not have been possible without the support of Travelex PLC, The Weston Family, the Royal National Theatre Foundation and media partner, The Guardian. Full ReportThe full Annual Report can be found online at http://www.nationaltheatre.org.uk/?lid=10655. It is in PDF format and Acrobat Reader (free download) is required. Please note that all three Archive indices are very long and will therefore take some time to download.
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