Reserves and provisions serve the same purpose. This is money you keep aside for future events.

The difference is that reserves are for already known events and provisions are for unknown events.

Reserves are part of you income that you set aside to invest in the next financial period while Provisions is set aside incase of unfavourable outcome like when a customer refuses to pay you. you set aside provisions to meet unforseen unfavourable conditions while reserves in investment into the future of the company.