The Parks Trust have today published their Annual Report and Financial Statements for 2022/23.
Last year The Parks Trust celebrated their milestone 30th birthday, over this period the Trust has successfully grown the 4,000 acres of land and £20m in endowment that it received from Milton Keynes Development Corporation to create a legacy for the city of Milton Keynes.
Today, they care for over 6,000 acres of local greenspace and generate their own annual income of £10m from endowment property and investments now worth £138m.
In the 2022/23 financial year, the Trust's net assets decreased from £150.3m to £145.6m. This decline was influenced by tightening global monetary policies and economic uncertainties in the investment market. Subsequently the Trust's investment funds decreased to £176.7m from £191.5m.
To support its charitable activities, the Trust successfully diversified its non-property assets, providing asset protection during market downturns and generating higher income streams. As a result, the Trust achieved investment income of £10.4m.
Despite economic challenges, the Trust spent £14.9m on charitable activities, with a significant portion allocated to managing parks, lakes, and landscapes. The Trust's headcount also grew to 104 permanent employees compared to 87 the previous year.
The past 12 months was another busy and exciting year for The Parks Trust as they focussed on delivering positive impacts for local green spaces, biodiversity, and the local community.
These included the planting of 77,000 new bulbs, shrubs and trees, the completion of the £3m restoration of Great Linford Manor Park, the recording of three new species; Rare Snipe, Pintail Duck and Clouded Yellow Migrant Butterflies. The charity was also awarded the Green Flag Award for the sixth year in a row, hosted two BBC Gardener’s Question Time shows, welcomed 194,000 visitors to events in their parks, received 440 oak saplings grown and donated by city residents and engaged with 140,500 local people through their Outdoor Learning Activities.
Furthermore, The Parks Trust took on the stewardship of the following new parks and landscapes in Milton Keynes:
- Oakgrove play areas at Harvard Way, Ferranti Place and Aiken Grange
- Oakgrove ecology corridor and ponds
- Areas of incidental green space, including old hedgerows in the Whitehouse estate
- A section of ‘swale’ green space in Brooklands
2023-24 will see Chair of Trustees, Zoe Raven, serve her tenth and final year with The Parks Trust. In that time, Zoe has governed and guided work in an objective, inspiring and selfless way that’s helped the Trust navigate through growth and a global pandemic.
Their deepest gratitude goes to Zoe who can retire from the board of Trustees knowing she has left an incredible legacy for the people of Milton Keynes.
Visit their website to view the full Annual Report and Financial Statements.
