News > Annual Accounts published
Annual Accounts published
09/07/2010
The National Trust for Scotland (today) has published its annual results which show the charity to be in a “more secure” financial position than it was a year ago.
In all key performance indicators the Trust management has been able to display to its Board and governing Council that it remains a “going concern.”
The General Income Fund (GIF) which is the working reserves of the Trust stands at £8.5m up from just £4.1m in the previous year.
Membership income rose slightly to £10.4m while paying visitors were up by nearly 7 per cent to bring in £2.7m which is mainly as a result of the visitors to the Burns National Heritage Park which the Trust took over the running of in the previous year.
Legacy income also rose substantially to £5.9m while wages and salaries were down by 3.2 per cent mainly as a result of the redundancy programme which took place during the year although this figure excluded the costs of the redundancy programme.
The Trust’s Finance Director Lesley Watt said: “The positive message to give is that the actions we took have delivered results. Last year with the recession imminent, we benefited from people staying at home and our commercial activities were up. It’s given us a breathing space but we cannot be complacent about what the future holds. We have to ensure that financial sustainability always goes hand-in-hand with conservation.”
“In presenting a more optimistic set of accounts the Trust has to make it crystal clear that although the financial results for 2009-10 are greatly improved they disguise what is an imbalance between the regular and predictable cash flow of membership income and the overall cost of both running the Trust and properly conserving its properties.”
The General Income Fund (GIF) which is the working reserves of the Trust stands at £8.5m up from just £4.1m in the previous year.
Membership income rose slightly to £10.4m while paying visitors were up by nearly 7 per cent to bring in £2.7m which is mainly as a result of the visitors to the Burns National Heritage Park which the Trust took over the running of in the previous year.
Legacy income also rose substantially to £5.9m while wages and salaries were down by 3.2 per cent mainly as a result of the redundancy programme which took place during the year although this figure excluded the costs of the redundancy programme.
The Trust’s Finance Director Lesley Watt said: “The positive message to give is that the actions we took have delivered results. Last year with the recession imminent, we benefited from people staying at home and our commercial activities were up. It’s given us a breathing space but we cannot be complacent about what the future holds. We have to ensure that financial sustainability always goes hand-in-hand with conservation.”
“In presenting a more optimistic set of accounts the Trust has to make it crystal clear that although the financial results for 2009-10 are greatly improved they disguise what is an imbalance between the regular and predictable cash flow of membership income and the overall cost of both running the Trust and properly conserving its properties.”
