|
|
||
|
News
|
||
|
News |
Dateline: 11th November, 2004
RSC Annual Report 2003-4: A Summary 1. Finance At the end of the financial year 2003-2004, the RSC had an operating surplus of £2,439,000. It had budgeted for a break-even figure, i.e. no surplus or deficit. This surplus came about partly as a result of a higher than budgeted box office income (£9,829,000 as against a projected £9,667,000) and an increase in other income of £544,000 as against budget. However other income fell short of budget during the period, so the overall surplus against budget was £227,000. Most of the operating surplus came about as a result of a reduction in costs. Expenditure, in fact, was £2,211,000 less than budget. Every department came in ahead of budget, with direct show costs producing the most impressive saving - £713,000. The accumulated consolidated deficit, therefore, reduced from £2.8m to £0.4m. On 4th September 2003 the RSC was declared by Customs to be culturally exempt from VAT, which resulted in the RSC receiving repayments from HM Customs and Excise in April and May 2004 relating to overpaid VAT from 1990-96 (£5.6m) and 2000-03 (£0.9m) and related interest of £3.2m. These receipts were reported within accrued income in the balance sheet at the year end and will help to fund the proposed redevelopment of the Stratford site. The consolidated balance sheet strengthened significantly during the year. Net assets increased by 112% from £10.9m to £23.0m, reflecting a combination of the £2.4m net surplus and the VAT related receipts of £9.7m. The value of investments improved from £5.0m to £6.0m. 2. Performances During the year twelve new productions were added to the repertoire and there were three revivals and transfers. In Stratford 723 performances were seen by 447,579 people. There were 262 performances in London (a total audience of 142,598), 183 UK tour performances (76,317) and 58 overseas tour performances (45,726), making a total of 1,226 performances seen by 712,220 people. There were 34,826 people involved in RSC education projects, including 1,689 teachers. Please note that all three Archive indices are very long and will therefore take some time to download.
|
|
|
|
