Our Performance

We use Key Performance Indicators (KPIs) to measure progress against our strategic objectives.

We had to suspend measurement in some areas whilst pandemic restrictions were in place however this allowed us to reflect on whether our current processes were delivering what we needed.

In respect of the Conservation Performance Indicator (CPI) process it was considered that change was required. It was clear that it provided elements of value, but the overall balance of time spent following the process versus time spent considering assets and how they are managed felt disproportionate.

We have taken steps to remedy this developing and trialling a new Conservation Management Review process (CMR). This is part of the ongoing improvement of our Conservation Management approach encouraging teams to think about conservation priorities not just in terms of significance and condition, but also the broader benefits that assets provide to people and nature, and the challenges and threats they face, e.g. in relation to Climate Change.

Two KPIs involving CPI remain suspended as indicated in the table below, and we are working on new ways to monitor conservation performance which will begin to come through from 2024–25.

We took the decision to pause the KPI relating to overall service standards for a further year. This was due to implementation of the Support and Revenue Platform which impacted our ability to collect data. This will be fully reinstated next year.

All other areas remain the same. In some areas performance has been slightly below target. The Financial Review explains the key financial movements year on year. As 2022–23 was the first full year not affected by social-distancing restrictions, our income grew, but we also returned to normal expenditure levels, and government support through reduced VAT rates was withdrawn. The effects of rising costs and inflation have been felt in all aspects of our operations too, from conservation costs to the frequency with which visitors can afford to travel to our places. As a result of this, and planned increases in spend, the operating margin fell to

£108.2 million (£177.5 million in 2021–22).

We focused on physical actions towards achieving our land and nature targets, having lost ground whilst restrictions were in place. Consequently, not all outcomes were recorded in time for the publication of this report and actual results are likely to be more positive than those shown below.

There have been signs of recovery. We welcomed 24.1 million visitors at pay-for-entry sites. While numbers remain lower than before the pandemic and slightly below our target of 25.1 million, they were significantly higher than in 2021–22, improving in the second half of the year.

Most positively, we exceeded our fundraising target of £95.4 million with an income of £110.4 million¹. This was, in part, thanks to a substantial increase in legacy income, for which we are most grateful.

1 An additional £6.7 million of fundraising income was generated through our trading subsidiary The National Trust (Enterprises) Ltd, bringing the total fundraising income across all sources to £117.1 million.