THE ROYAL NATIONAL THEATRE

1. THE ROYAL NATIONAL THEATRE 2001-04-25 → present
2. THE ROYAL NATIONAL THEATRE BOARD 1990-05-21 → 2001-04-25
3. NATIONAL THEATRE BOARD (THE) 1963-02-08 → 1990-05-21

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and the Parent Charitable Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. THE ROYAL NATIONAL THEATRE · parent
   1. Royal National Theatre Enterprises Limited 100% · UK · Trading activities
   2. National Theatre Productions Limited 100% · UK · Commercial exploitation of productions
   3. National Theatre Staging Limited 100% · UK · Commercial exploitation of productions
   4. National Theatre Live Limited 100% · UK · Commercial exploitation of productions
   5. Royal National Theatre North America LLC 100% · USA · Commercial exploitation of productions
   6. Curious Incident Broadway LP 50% · USA · Commercial productions
   7. Three Brothers Broadway LLC 51% · USA · Commercial productions

Significant events

• “In April 2025, Rufus Norris has concluded his ten-year tenure as Director of the National Theatre. We welcomed Indhu Rubasingham as our new Director and Co-Chief Executive, who will work alongside Executive Director and Co-Chief Executive, Kate Varah.”
• “We produced 19 plays and musicals that were staged across the globe including 13 productions at the South Bank, 5 of which were world premieres of new work.”
• “We collaborated 30 years of our nationwide youth theatre festival, Connections.”
• “In September 2024, we opened the pioneering National Theatre Green Store in South Bermondsey.”
• “Urgent infrastructure repairs to the National Theatre building, supported by a UK Government grant of £26.4m and philanthropy, began on site in late 2024 with the upgrade of the Olivier Scenic Lift and the replacement of aging wiring in the Dorfman Theatre.”
• “In September 2024, the much-loved War Horse returned to audiences through a major nationwide tour, reaching 23 venues across the UK.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +2.4%

  £121,400,000 → £124,300,000

• Cash

  +20.3%

  £31,100,000 → £37,400,000

• Net assets

  +3.2%

  £79,300,000 → £81,800,000

• Employees

  +10.8%

  840 → 931

• Operating profit

  +500%

  £2,500,000 → £15,000,000

• Profit before tax

  +500%

  £2,500,000 → £15,000,000

• Wages

  +5.7%

  £42,400,000 → £44,800,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers