National Trust Annual Report 2017/18

National Trust Annual Report 2017/18 1 The National Trust in brief

What is the National Trust?

We are a charity founded in 1895 by three people who saw the importance of our nation’s heritage and open spaces and wanted to protect them for everyone to enjoy. More than 120 years later, these values are still at the heart of everything we do. We look after special places throughout , Wales and Northern Ireland for ever, for everyone.

We look after coastline, forests, woods, fens, beaches, farmland, moorland, islands, archaeological remains, nature reserves, villages, historic houses, gardens, mills and pubs. We restore them, protect them and open them up to everyone. For the Trust, conservation has always gone hand-in-hand with public access. We welcome everyone to explore:

• 780 miles of coastline • Over 248,000 hectares of land • Over 500 historic houses, castles, ancient monuments, gardens and parks and nature reserves

Many of our properties are unable to fund their own permanent preservation. The cost of caring for them is high: our overall conservation expenditure on property projects, conservation repairs and conservation of contents was £138 million in 2017/18 (see page 41). Most of our property is held inalienably, so it cannot be sold or developed against our wishes without the consent of Parliament.

We rely on the support of our members, donors and volunteers, as well as income from grant-making bodies and commercial activities such as retail and catering, to look after the places in our care.

This Annual Report and our 2017/18 Impact Review can also be viewed online at www.nationaltrust.org.uk/features/annual-reports. The Impact Review outlines our achievements over the year and summarises our financial position.

The National Trust for Places of Historic Interest or Natural Beauty is a registered charity (no. 205846). It is incorporated and has powers conferred on it by Parliament through the National Trust Acts 1907 to 1971 and under the Charities (National Trust) Order 2005. The Trust is governed by a Board of Trustees whose composition appears on page 65. A brief description of the Trust’s organisation is given on pages 22 to 26. Our bankers, investment advisers and independent auditors are identified on page 62 and the contact details for our principal offices are listed on page 87. This Annual Report has been prepared by the Board of Trustees and covers the period March 2017 to February 2018.

2 National Trust Annual Report 2017/18 Contents

Message from the Chair and Director-General 2 Board of Trustees’ report for 2017/18 3 Playing our part – our strategy to 2025 4 Our performance 2017/18 5 Looking after the places in our care 6 Restoring a healthy, beautiful natural environment 8 Helping look after the places where people live 9 Creating experiences that move, teach and inspire 10 Growing support for what we do 12 Resources and skills 15 Financial review 17 Administration and management 22 Structure and internal control 22 Annual report of the Council 2017/18 27 The Financial Statements 2017/18 28 Consolidated statement of financial activities 28 Balance sheet 29 Consolidated cash flow statement 30 Notes to the Financial Statements 31 Independent auditors’ report to the Trustees of the National Trust 60 The Trust’s advisers 62 Glossary of financial, property and fund terms 63 Operating margin 64 Governance of the National Trust 65 Membership of the Board of Trustees, the Council, Committees and Executive Team 65 2017 Annual General Meeting 67 Year on record 69 Acquisitions of properties, works of art and other objects 69 Visiting figures 71 Grants and donations 73 Supporter groups 76 Legacies 78 Contact details 87

National Trust Annual Report 2017/18 Contents 1 Message from the Chair and Director-General

We are delighted to present the 2017/18 Annual Report.

During 2017/18 we said farewell to our Director-General, Dame In 2017/18 we launched our first year of national public programming Helen Ghosh, who oversaw a period of great growth and the where a number of properties staged sometimes challenging establishment of a long-term strategy describing our ambitions to interpretations in commemoration of the partial decriminalisation 2025. We start this report by thanking Helen for all she did during of homosexuality in 1967. As part of our Trust New Arts programme over five years at the helm. landscape artist Daan Roosegaarde explored the power and poetry of water with Waterlicht, a stunning display utilising modern 2017/18 was another ‘best year ever’. Our report charts record technology staged in Winnats Pass in the Peak District. At Nostell in numbers of members and visitors. This has been a trend over West Yorkshire, the team used the 300th anniversary of the famous a number of years, and such success enables us to further our longcase clock devised by locally born inventor John Harrison to charitable core purpose of conservation and access. inspire a year-long programme of exhibitions.

Our number one priority is looking after our special places. During The Trust’s involvement with the establishment of an independent 2017/18 we invested £138 million on major projects such as the charity in Newcastle to run the city’s parks and allotments was part £5.4 million roof conservation project at The Vyne in Hampshire, to of a series of pilot schemes the Trust has been running to determine secure the building and its collections, a project that also provided how best the Trust can help connect people with the local places an opportunity to introduce new and imaginative interpretation. We that are special to them. We anticipate this part of our work will grow also continued the programme of investment in our residential estate, as part of our ambition to be relevant to more people. designed to ensure all our many cottages and other small dwellings are maintained to the standards expected of the National Trust. As ever we end by thanking you. Perhaps the most important statistic in this report is the fact we now have over 5 million While looking after our special places will continue to be the members for the first time in our history. This landmark provides cornerstone of our work, our strategy called Playing our part further evidence of the importance of our work in people’s lives. describes other ambitions, including a healthier, more beautiful We thank all of you for your support – our members, other visitors, natural environment; better experiences at our places that move, our staff, volunteers, the Trust Council, Regional Advisory Boards, teach and inspire; and stronger connections between local people specialist Advisory Groups, our Centres and Associations, partners and the local places special to them. and donors. We simply couldn’t do what we do without you.

We had a number of successes during the 2017/18. At Malham Tarn in North Yorkshire we began piloting a scheme that sees farm tenants rewarded for farming in ways that enhance nature. As part of an important relationship with the RSPB, little terns were reintroduced at Blakeney in Norfolk and we acquired 81 hectares (200 acres) of land at Tughall Mill in Northumberland. Our ownership there is already making a difference – almost 500 Arctic terns and four internationally threatened little terns fledged Photography © National Trust/Tony Gill Trust/Tony © National Photography Haywood Steve © Photography thanks to a 24-hour watch by our rangers against predators.

Our programme to create experiences that move, teach and inspire visitors continues to progress, and with further increases to the number of curators during the year we will be doing more Tim Parker Hilary McGrady in future years. Chair Director-General 25 July 2018 25 July 2018

2 National Trust Annual Report 2017/18 Message from the Chair and Director-General Board of Trustees’ report for 2017/18

We start by echoing the Chair and Director-General’s thanks to Dame Helen Gho