THE ROYAL SHAKESPEARE COMPANY, STRATFORD-UPON-AVON
Latest income
£82.0m
Latest spending
£84.4m
Registered
1963
Accounts read
FY2025
Financial health, per its FY2025 accounts
The accounts state that the charity reported a net expenditure of £1.7 million for the year ended 31 March 2025, resulting in a reduction of total net assets from £130.5 million to £128.1 million. The trustees confirm that the organization has sufficient liquidity headroom to continue as a going concern, with unrestricted cash and investments totaling £31.3 million. However, the SORP-compliant free reserves were significantly lower at £3.1 million, down from £9.0 million in the prior year.
What the accounts disclose
Reserves policy: three months of unrestricted expenditure (held: £3.1m)
“The Framework targets having a minimum level of liquid reserves of £16.0 million which is determined to be the amount required to cover unavoidable operating costs for approximately 3 months.” — page 23
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Clare Reddington has been a Trustee of Wise Children Limited since 2018, which invoiced the Corporation for the development costs and royalties in relation to the theatrical production of “Buddha of Suburbia” as well as other smaller projects for £301,322 (2024: £33,515).
“Clare Reddington has been a Trustee of Wise Children Limited since 2018, which invoiced the Corporation for the development costs and royalties in relation to the theatrical production of “Buddha of Suburbia” as well as other smaller projects for £301,322 (2024: £33,515). The balance owed at the end of the year was £Nil (2024: £Nil).” — page 81
“Despina Tsatsas is also an External Member of the Barbican Centre Board, a committee responsible for the activities and services of the Barbican Centre. During the year, the Corporation invoiced the Barbican Centre £2,281,128 (2024: £6,671,741) for theatre ticket sales for productions of “Buddha of Suburbia” and “A Midsummer Night’s Dream” that played in the West End.” — page 81
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Despina Tsatsas is also an External Member of the Barbican Centre Board... During the year, the Corporation invoiced the Barbican Centre £2,281,128 (2024: £6,671,741) for theatre ticket sales... The Corporation was also invoiced £1,029,947 (2024: £1,749,707) for various items including theatre rental, sales commission as well as charges for utilities, technical staff and catering.
“Clare Reddington has been a Trustee of Wise Children Limited since 2018, which invoiced the Corporation for the development costs and royalties in relation to the theatrical production of “Buddha of Suburbia” as well as other smaller projects for £301,322 (2024: £33,515). The balance owed at the end of the year was £Nil (2024: £Nil).” — page 81
“Despina Tsatsas is also an External Member of the Barbican Centre Board, a committee responsible for the activities and services of the Barbican Centre. During the year, the Corporation invoiced the Barbican Centre £2,281,128 (2024: £6,671,741) for theatre ticket sales for productions of “Buddha of Suburbia” and “A Midsummer Night’s Dream” that played in the West End.” — page 81
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Professor Emma Smith is an employee of University of Oxford, which during the year, invoiced the Corporation £15,224 (2024: £Nil) for delivery of interdisciplinary fellowship and game sets.
“Clare Reddington has been a Trustee of Wise Children Limited since 2018, which invoiced the Corporation for the development costs and royalties in relation to the theatrical production of “Buddha of Suburbia” as well as other smaller projects for £301,322 (2024: £33,515). The balance owed at the end of the year was £Nil (2024: £Nil).” — page 81
“Despina Tsatsas is also an External Member of the Barbican Centre Board, a committee responsible for the activities and services of the Barbican Centre. During the year, the Corporation invoiced the Barbican Centre £2,281,128 (2024: £6,671,741) for theatre ticket sales for productions of “Buddha of Suburbia” and “A Midsummer Night’s Dream” that played in the West End.” — page 81
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Sarah Ellis has been a Trustee of Figurative since 2023. The Corporation is in a receipt of a repayable finance from Arts & Culture Finance, which is now part of Figurative. During the year, the Corporation made a loan repayment including interest of £220,000 (2024: £15,032).
“Clare Reddington has been a Trustee of Wise Children Limited since 2018, which invoiced the Corporation for the development costs and royalties in relation to the theatrical production of “Buddha of Suburbia” as well as other smaller projects for £301,322 (2024: £33,515). The balance owed at the end of the year was £Nil (2024: £Nil).” — page 81
“Despina Tsatsas is also an External Member of the Barbican Centre Board, a committee responsible for the activities and services of the Barbican Centre. During the year, the Corporation invoiced the Barbican Centre £2,281,128 (2024: £6,671,741) for theatre ticket sales for productions of “Buddha of Suburbia” and “A Midsummer Night’s Dream” that played in the West End.” — page 81
Per its FY2025 accounts as filed with the Charity Commission.
Leadership, per the charity’s website
- Shriti Vadera — Chair
- Mark Thompson — Co-Deputy Chair
- Andrew Miller — Co-Deputy Chair
- Tamara Harvey — Co-Artistic Director
- Daniel Evans — Co-Artistic Director
- Andrew Leveson — Executive Director
Funders the charity credits
- The Gatsby Charitable Foundation
- Hawthornden Foundation
- The Drue and H.J. Heinz II Charitable Trust
- Culture Recovery Fund
Structured financials (annual return, FY ending 31/03/2025)
Total income
£82.0m
Total spending
£84.4m
Cost of raising funds
£1.9m
Reserves (reported)
£3.1m
Employees
1,029
Trustees
- Shriti Vinodkant Vaderachair
- Amanda Joycelyn Parker
- Andrew James Miller MBE
- Anna Katherine Lucy Sedgley
- Geoffrey Barton
- Jonathan Paul French Smith
- Liz Vernon
- MARK THOMPSON
- Nicholas Robert Hytner
- Professor Ayanna Thompson
- Professor Emma Josephine Smith
- Sir Nicholas John Varney
- Winsome May Pinnock
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £82.0m | £84.4m |
| 31/03/2024 | £92.2m | £87.9m |
| 31/03/2023 | £68.1m | £68.1m |
| 31/03/2022 | £39.7m | £43.3m |
| 31/03/2021 | £36.1m | £34.8m |
Common questions
Is THE ROYAL SHAKESPEARE COMPANY, STRATFORD-UPON-AVON financially healthy?
The accounts state that the charity reported a net expenditure of £1.7 million for the year ended 31 March 2025, resulting in a reduction of total net assets from £130.5 million to £128.1 million. The trustees confirm that the organization has sufficient liquidity headroom to continue as a going concern, with unrestricted cash and investments totaling £31.3 million. However, the SORP-compliant free reserves were significantly lower at £3.1 million, down from £9.0 million in the prior year. Its FY2025 accounts were audited by BDO LLP.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 06/06/2017 | £1.1m | "Heritage of the RSC's Costume Workshop" |
| The National Lottery Heritage Fund | 18/01/2011 | £2.9m | "Royal Shakespeare Company Swan Wing Project" |
| The National Lottery Heritage Fund | 12/03/2004 | £49k | "Joint Cultural Heritage Access Plan" |
| The National Lottery Heritage Fund | 02/06/1998 | £157k | "Reg Wilson Photographic Collection - Acquisition" |