Hello @NationalTrust — Can I query the statement you made yesterday, which states that "The Trust’s £1.3 billion of reserves, often referred to, are legally restricted to the use they were given for".
https://www.nationaltrust.org.uk/blogs/directors-blog/our-vision-for-places-and-experiences (1/3)

(2/3) In your 2019-20 Annual Report, you list £1.291 billion in reserves but also project £131m in "pension reserve" and £60m in "actuarial losses" which are subtracted from £1.47 bliion. And the "restricted income funds" are entered as just £452,955,000 . https://nt.global.ssl.fastly.net/documents/201920-annual-report.pdf

(3/3) So, would it be more accurate to say that "The Trust has £1,473,274,000 of reserves of which £452,955,000 (30%) are restricted" — or is this a misreading of the figures?
I may well have it wrong—but this'd mean you have unrestricted reserves of over £1 billion. Thank you!

PS Just to be clear on the Charity Commission definition of a "Designated Fund", here it is https://ogs.charitycommission.gov.uk/glossary.aspx