The National Trust has published its Annual Report, which records income rising above £500m, apparently for the first time.
Income in the year to the end of February is up 5.7 per cent from £494m last year, with the main increase coming from an £18m increase in member income. Total expenditure rose to £540m – the second year the trust has spent more than it earned, as part of a drive to fix a £300m backlog of conservation costs.
But the trust’s financial position remains extremely healthy. Despite a £120m pension deficit, its total assets are £1.13bn, and its unrestricted reserves are £230m – almost six months’ expenditure.
The reports also confirm that the trust has changed its governance structure following a consultation last year. It is reducing the size of its council form 52 members to 36, and reducing the number of council members on its board of trustees.
Read the more and download the Report
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