Reglstered numbèr.. 04620880 CharSty number- 1099076 LIVING COASTS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 ishop Fleming
LNING COASTS (A COPAPANY LIMITED BY GUJRANTEEI CONTENTS Page Refer9n and Admini$lralive Detail$ of the Char5ty, It¥ Tw8t•88 •nd Adylsers Trust•os' Report Trus1886' Responslbllltlos Statem•nt Ind•p•nd•nt Aiidltors. Roport th8 Flnanel81 St8tom•nts Stat4m•nt of Flnanclal Actlvlii•s 10 B8lan¢• Sheet 11 sutomeni of Gash Flows 12 Nottr8 t¢ the Financlal Statements 13-27
LIVING COASTS IA COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDE0 31 OGTOBER 2021 Trustees S E Kings, Chair R W J Ford, Vice Chair S Barr BA A C J Cooper 6Sc S J Greinig BA (resigned 4 March 20211 R Hill BA IHon51, ACA P R F Cli<lllill MA, PIID ITe¥iyii¥d 18 Auyus120211 B K McLaughlin RARowe M S oalmon P M C Steven5 (resigned 7 February 20221 A G Hart lappoinled 16 June 20211 R I Slone3 (appointed 16 June 20211 C CoDper lappointed 16 December 20211 Crtmpxny r•gl$t•r8d numbtsr 04620880 Ch#rfly règlstèrgd numbèr 1V99076 Reglstered r)ffie• Tolnes Road Paignton Devon TQ4 7EU Prlnclpol operallng offlce Harb¢Jurside Beacon Hill Torquay Devon TQ12BG Comp•ny ¥o¢r•tary C E malkin13ppoinled 30 July 20211 C J Pyne Iresigneo 26 July 20211 Chief Executive Offlcer D Flwn lappoinied 1 December 20201 Extcutlvt Director J Tonge Irtssigntsd JO June 2021} Indopendent audStors Btshop Fleming LLP Chartered AcGouiilants 2nd Floor Stratus House Emperorway Exeler Business Park Exeter EX13QS Bank•rs RAThk plr. Paignlon Devon Page 1
LIVING COASTS IA COMPANY LIMtfED BY GUARANTEE) TRUSTEES REPORT FOR THE YEAR ENDED 31 OCTOBER 2021 Introdu¢tlon The Trustees submit their report and the audited finarbcial slalements for Living C0851S lor lh¢ year en(le¢J 31 October 2021. The linancial slalemenls comply with the Charities Act 2011 and Companies Act 2006. the MemoTandum and Articles of Association and have been prepared in accordance with the requiremenls of the Statement of Recommended Practice oti a¢UntIng and reporting for charilBs IFRS 1021 effective 1st January 2019. Living Coasts closed pemianenlly In March 2020 8nd thefore the report covers a transitional non.trading period while Trustees negolialed with the landlord, Torbay Council, on the long term future ol the sile. Living CoaEts is part of tho Wild Plangt Trust group so tho strategic aim. objoctlVg8 and public b*n•fit PViOTrtios contsnue lo be noted as shown below. Aims and Objgctives Slrgt8gic Aim Wild Planet Trust is an education, scientnlc and conservation charity that takes action lo prolect at-Tisk animals and planls trom the impacts of biodiversity loss through activities designed to help hall Species dÈc&nA_ Three core beliets underpin the ¢harllYs wotl(_' Every species is special verything Is connecle(J Every aclkjn matters P4Jblic 8¢nofil In setting objectives 8nd planning aclivilies for the year Ihe trustees have given careful considetation to ensuring ihal the charity's aclivilies are ID the public benefit, and they have had regard to the Charity. Accordingly, the activities al our sites during the last year wer8 for the public benefit and were in accordance vAlh the objeels of the charity. They ale. To advan scientific knowletlge of plant5, animals and the natural world. Tc &dv8nce the education of 51uderils and the public on Ihe conseNalion of the physic81 and natural world And thp pmmrtrttr)n nf hinflivp.r_oity. To promote the conservation of physical and nalural environment and the maintenance of OlOgiCal diversity. In fulfilllng its objectiv8s, the charfty brlws Ils objectives and Core beliefs lo life through the START Programme. ST ART has five components.. pioviding long-term SAFE HAVENS al our siies for al-risk species. IBking the lead in Promoting, building and suppc>rting community dnd projtct parlncr3hip= to domonatrote how working TOGETHER {e.g. through lo citizen saence projecls 8nd support lor overseas prTr3ramme5 can achi8ve impacts that cor7tribule to halling species decline. taking ACTION that ¢ontribules lo halting species decline Ihrough supporting suslalnable habilals In Ihe UK and overseas, where 3peLaes may be prolecte(J and, when 3ppfopfiale. into which they can be re- iniroduced. conducting and commissioning RESEARCH into biodiversity prDlectiorb tOPlC5 that relate ID our cora activity areas and animal wellbeing irb order io ensure thai we c8n', aJvance the science-base for our programmes, promote improvements in animal welfare. and identify conservation challenges. using our platform as a ¢redible ¢onsetvalion Qfganisalion lo TELL Ople about why sustaining biodiversity 1$ vit•l for us 311. ¥nd lh8 work that Wg do to hglp halt sp¢cies deeline, in order to influence public policy and individual aGtions. Page 2
LIVING COASTS IACOMPANY LIMITED BY GUARANTEEI TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 OGtOBER 2021 Summary Df Main Achi@v@m@nt As the Liv4ng Coasts sile was closed for the duration of thTrs report, the achiev¢ments are noted in the WilLI Planet Trust report. published under separale Cover. Financial Revi Finanual Position as at 31 October 2021.. DisGontinued Operations As Living Coas15 is no longer operating as a visilor attraction, the activilies have been reported as discontinued operations in line with FRS 102. The few remaining asseis were disposed of and the remaining ¢onservaiion 8Ctivit16s iransferre(J to Ihe sisier chafiiy ISVVEPLI dLJrng 2020121. In ligni or ¢ne closure 01 Ine sile Ihe truslees have prepared the financial slalemenls on a basis other Ihan a going concern. The cuuent inlenlion is lo give LFP the license lo opeiale the Living Coasts sile and lo dispose of Ihe remaining assels. Expenditure foT the year came to £183,303, 8 large amount of which 1£57,3541 was the provlsion of site security. The remaining assets were therefore impaired lo their realisable value in these 8ccounls. The CAynpany conlinues lu enjoy support from Ihe sister Charity ISWEPLI and so trustees are confiéenl that IhB Company will be able lo discharg8 its few remaining liabilities as they fall due. Reserves Policy 11 is the general pollcy of Wild Planet Trust to apply towards their charitable obl8clives as much cash as they reasonably can, lo avcNd accumulating excessive reserves. In setting its reserves policy, the Charity takes account ol its cA)ntinuing financial commrtmenls In term5 of stafting and overheads including the costs of maintaining Ihe animal and plant collectiot7s and funding its charilable aclivilies. The Chsrily also considers the risk that ils income for any particular year may be impacied by a number of faciors DUtsi(le of its conirol. Wild Planet Trust maintains minimum availabk cash reseNes of £1M within its subsidiary companies al all timo$. Such r•sgrvgg would bo sufficignt for SWEPL to opgrato without Significsnl curtgilmgnt of Ihgir actiwlies for a period of up lo six weeks. In addition, Wild Planet Trust held an investment portfolio valued al £2.8m as &1 31st October 2021 with additional cash al bank of £8.2m. Whilsl the investment porlfolio is not considered to be part of the free reseNes. the Iruslees consider that these assets coukl be liquidated in a relatively short limes¢ale if requireé. albeit at a wsl. 8(ruGlure, Oovei'naiice aiid M&liiayEITieii( The charity (Number 10990761 is a company Iirniled by guarantee INumb8r 46208801 gov8rn8d by mp.mnrxndiim artirlp.o rjf a_*rJriation ThKa. e.harity i< wn hy A bt)Arrl nf trijqlp.pq whtl AfK_ al%n dirprtnrR fnr the purposes of the Companies Acl ancj who are named al the Ironl ol this report. In accordance with the goverrTring document, Iruslees are appointed lo the Board by a majority Yole of the existing trustees. A skills audit ol the existing Board is maintained with a target list of exporbse and experience- it provides crileria for future appoinlmenls. A recruSlment procedure is in place lo ensure that any nominees have experti3e and experience that will enhance and benefit the Board and its objective3. It h83 been used successfully. Training of Irus188s is reviowed against individual training needs and a full Inlroduclion ancl inductitsn lo th¢ charify is given lo new trustees upon appointment. Page 3
LIVING COASTS (A COMPANY LIMITED BY GUARANTEEI TRUSTEES REPORT ICONTINUEO} FOR THE YEAR ENDED 31 OCT08ER 2021 Thé Board meets regu18rly throughout Ihe yettr to rèview stratooy and pcrformancc and a numbcr of subcommillees also meet on a gULAr basis lo focus on specific areas. Whilst the trustees are responsible for slfalegy and policy issues, the d8y-lo-day adminisiralion and management ol the charity is delegated lo Chief Executive. who rep(Kts regularly lo the Board. By order of the Boar C E Malkln Company Secretary Dale= 1712021 Page 4
LMNG COASTS (A COMPANY LIMITED BY GUARANTEE} STATEMENT OF TRU3TEE3' RE8PON8181LITie8 FOR THE YEAR ENDED 31 OCTOBER 2021 The Trusiees {who are also the directors of the Charity for the purposes ol company lawl are resptsnsible for preparing the TTUStees' ReKN)rt and the financial slalements in acwr4an¢e wlh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel- Comparky law requires the Trustees lo prepare financi81 slalemenls lor each financial year. Under company law, the Trustees musl nol approve the financial 51alements unl85S they are 5atisfieé that th8y give a true and fair view ul Ilie ul itff&i15 Of the Charfiy ol Its Incomlng resources and appllcatton of resources. Inciuuing its income and expenditure. lor (hal p8riod. In preparin9 thesè finanual statements, the Truste85 are required to., select suitable aceounling policies and then apply them consistenuy,, obs&rve the methods and principles ol the Ch8rilies SORP IFRS 1021- make judgements and accovnting estimates ihat are reasonable and prudent.. Stale vknfrther applicable UK Accounting Stsndards IFRS 1021 h8ve been followed. subject to any material departures discl(>sed and explained in the finanGval statements", prepare Ihe financial statemenis on Ihè going con¢em basis unless it is ihappropriate lo presume thal th8 Charity will continue In business. The Trustees are responsible for keeping adequate accounling records that are sufficient to show and explain the Charills IransaclK)ns and disclose vith iea50nable accuracy al any lime the financial position of the Charity and enable thom lo onsuro that the fih?ncial statement= comply with the Companie= Act ry006. They arc al- responsible for saleguerding the assets ol the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irr¢gulariti&s. Appyoved by order of the members of ihe Boarf of Trustees and slgne¢J on ils behalf by: C E Malkin Company Sscr812ry 1112021 P8ge 5
LIVING COASTS IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF LIVING COASTS OPINION We have audileé the financial statements of Liwng Coasis Ithe 'Charityl for the year ended 31 October 2021 which comprise the Statement of Financial Activities lincorporating income and expendilure accounll, the 8al8nce Sheet, the SternOl ol C8$h Flows and the related notes. including 8 summary of signif1¢8nl accounting Policies. The fsnanciai reporting TiameworK inat has Deen appllecl In ihelT preparation Is appIiGable and Uniled Kingdom Accounting Siandaids, Induding Financial Reporting Standard 102'The Financial Reportj'ng Standard applicable in the UK and Republic ol Irel8nd' Iuniled Kingdom Generally Acc8pled Accounling Praditg). In our opinion the linancial ststemenls: give a Irue and fair view of the 5ts1e ol lh8 Gharllable Gompanys arrairs as 3131 October k021 and ol its incoming resources and applic8tion of resources, including its income and expenditure for the year then ended- 114ve been pruperly prep¥r¢d in willi UriFtgTJ K¥Fiydvm Q¢ii¢rolly AGc¢pted AGGouiitin Pracilce.. an have been prepared in accord8nee with the requlremenls of the Companies A¢t 2006. BASIS FOR OPINION We conducted Our audit in accordance Inlerr¢ational St¥nd>rd¢ on Auditing IUKI IISAS IUKII ¥pplicablg law. Our re5ponsibililies under those standards are further des¢ribed in the Auditors, responsibilities foT the audit of the financÈal Statements section of our report. We are indepenrSent of the Charilable Company in acGordanGe with the ethical requiremenls that are reFevanl lo our Judil of the financial statements in th8 United Kingdom, including the Financial Reporting Council's Ethical Siandard, and we have fulfilled our olher elhiGal r8sponsibililies in accordance w7lh these requiremenls. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis lor Dur opinion_ EMPHASIS OF MATTER- FINANCIAL STATEMENTS PREPARED ON A BASIS OTHER THAN GOING CONCERN We draw 81tenlion lo note 2.2 in the financial statements which &xplains Ihe Charily ceased to operate during the prior year. and transacu.ons in the cuNent year have occurred in relation lo the closLFre process. Therefore, these flnan¢ial slalemenl$ have been ppared on a basis other than thal of a going concern. Ng provision¥ have been made for the future costs of temiin8b.ng the Charlty unless such costs were ¢omMitted 81 the balance sheet dale. Al the year end, all assets have been transferred lo the CharilV$ immediate parenl, Sovlh West Environmental Parks Llmiled. Our opinlon is not modified in respect ol Ihis maller, Our rosponsibilities and the responsibilities of Ihe Trustees with respect to going concem are de$cribed in Ihe relevani section5 01 Ihis r8PQn. Page 6
LIVING COASTS (A COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDrroRS' REPORT TO THE MEM8ERS OF LNING COASTS ICONTINUEDI OTHER INFORMATION The OEher informatson comprises the information included in the Annual Report other than the financial slale¥Trenls and our Auditors. Report thereon. The Trltslees are responsible lor the other information wnlairhed wrthin the Annual Report. Our opinion on the lin8n¢ial statements does not cover the other information and, XLeyl Lu Ilie exleril Dlherwise expliBitty 5taieU in our repon, we (Jo nol eipre35 any fr)rtn of a5surallce concluslon ihereon_ Our responsibility is to read the other llllDrmalion and. in doing sts, consider whether the othei information is mal81i8lly inconsistent with the financial statements or our knoH4edge obiBined in the course of the xudit. or OihÈnviE& AppAsJr Irtr tr. mAtprially mis_tatgrt If wg. iA•.nfify qiir.h rnatprixl inrnn8itAnrips nr appArp.nl material mis5talemen15, we are required ID determine whelher this gives rise to a material misstatement in the rir¢ancial statements themselves_ If, based on the Work we have performèd. we ¢onelud6 that there is a malerial misslaiement of this other Infomiats"s)n. we are required to reporl that fact. We have nothing tr) report in Ihis regard. QPINIQN ON OTHER hlATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course ol the audit-. the informalion glven In the Tru51ees' Report lor the financial year lor which the finanoal statevnerkts are prepared is consistent with Ihe financial statements. the Tru51ee$' Report has been Drepared in accordance wilh appIable leoal reoulrement8, MArrERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the Itqhl of our kn¢ythedge and understsnding of the Charitable Company and its environment obtsined in the COUTse of the audit, we have not idenlified malerigl misstal¢menl$ in the Trustees. Report. We have nothin9 to repNt in respect of the following matters in relation to wlmch Companies Act 2006 requires U8 lo report lo rf, in our opinion: adeouate accounting records have nol been k8pI. or returns adequate for our audit have not teen received from branches not visited by us,. the financial slaiements are n(Jl in agretrmenl w41h th¢ aGcounllng records and rolum$', or certain disclosures of Trustèes, remun@rab.on specified by law are nol made,. or we have not rg¢eived all Iho information and explanalions we require for our audrt.. or the Trustees were not entitled to prepBre the financial statements in accordance with the small companies regime Snd lake advantage of the small companies, exempllons in preparlng the Trustees. Report and from the requirement to prepare a Strategic Report. RESPONSIBILrriES OF TRUSTEES As explained more fully in Ihe Trustees, Responsibllilles Slalem@nt, the TnJsl8es (who are also Ihe directors of the Charitable Company for Ihe purposes of company lawl are responsibl8 for the preparalson of the financial slatem&nis and lor bttift9 $atlsfied Ih&t they give a true fail e, and for 6uGh intemal Gontrol es the Trustees determine is necessary lo enable the Eeparation of fln8ncLg1 ststemenls that are free from material mi5slalernenl, whether due lo fraud or error. In preparing the financial ststements, the Twslees are responsible for assessing the Charitable Companys ability lo Continue as a going concern, disclosing, as applicable, matters related to going concern and using Ihe going concern basis of accounling unless the Trustees either intend lo liquidate the CharilalJe Company or lo cease operations. or have no ¥ll$ti¢ allernalive bul io do so. P8ge 7
LIVING COASTS IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF LIVING COASTS ICONTINUEDI AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Jr objeolives are to obtain reasonable assuTance about whether the financial slalements 85 a thole are free from material mi3slalement, whether due to fraud 01 error, and tL¥ issue an Auditors, Report thaE includes our ownion. Reasonable assurance is a high level of assurallce, bul is not a guarantee that an audit conducted in ordance with ISAS IUKI wll always detect a material misstaternent when it exists. Misstatemer7Es Can arise from fraud or efror and are considered material if, inclividually or in Ihe aggregate, they coulé reaSonaY be expected to influence ihe economic decisions of users taken on the b8sis ol Ihese financial slaiemenls. Irregularitie5, including fraud. 8re instances of non.complianc¢ with la¥ and regulations. We design procedures in line with our responsibilTrlie5, Oijtlined above, lo detect material misslalemenls in respect of irregularrlies, inrliirting ft811d Thè eKl6nt to which our p•dr$S ar$ capabla of dtsding irr89ularilies. kncluding froud Is detailed b&low.' We have considere(J the nature of the sector, control envtronment, and fin8nclal perfomance- Vve have considereo the results ol enquiries wilh management the Truslees in relation to their own identiflcaliov and asse55fftenl of the risks of irregularities within the Charity., We have reviewed the documentation ol key processes and controls. and performed Wdlklhrough$ of Ir•n$#¢tigns lo confirm that the systorns arg operating ling with docum8ntation- have obtained and reviewed the Charills documentalion of their policies and procedures relating lo.. IdenlifyTrng, evaluating, and complying with laws and regulations ané whether they were aware of ally instances ol non-comptiance.. Delecling and Tesponding lo the risks of Iraud and wthether they have knthedge of any actual. suspected. or alleged fraud., The internal controls established to miligale risks of fraud or non-compliance with laws and regu13tiorbS We have considered the matters discussed amon9 the audit engagement team regarding nc)w and where Iraud fflight occur in the financial statements and any potential indicators of fraud. As a SlI of these procedures. we have COnsered the opwrtunities and incentives that may exist vAthin th8 Charity for fraud and identified the highesl arèa of risk to be in relation to income recognition. In common th 811 audits under ISA5 IUKI, we are also required tD perform specific procedures to respond lo ihe risk of mon¢g¢m¢nt ¢vGrrid6 ol contro13 through the of manual journal3_ We have also obiained an iJnd8rstanding of tho legal and regulatory framèworks that the Chariiy Dperaies In. fo¢using on provision5 of those laws and requlalions that had a dirèct effect on the detemiination of maierial mcyjnts and disclosures in Ihe linanoal stslemenls. The key laws and regulab.ons we eonsidered in 115 conlexl includ8d thè Char4tiès Act 2011, Charilies SORP 2019, UK Companies Act and FRS102. IrF addition, we c(pnsidertd wovi$ion8 of olli¢i laws aii¥J i¢yulalivii¥ Uial iiot hav¢ a dir¢Gt tfftbl uii ttiv rinancial slalements bul ¢omplian¢e with whi¢h may be fundamenlal lo the Charity's ability to operate or avoid a material penally. These induded data proleclron legislation, health and safety regulations, and tsmploylnenl legislation. Our procedures to respond to risks identified includefl the foll¢wing: ftevlewlng me fin8nciai stsiemeni disclosures and tes11 io supponing documtrniaiion assess compli3nce with ¥ovisions of r¢levanl and regulalions describ8d as having a dire¢l effect on the rinancial SmentS., Fnfjiiirino of managem*nt in r8lation to attual and potontial tlaims or litigation.. Perfomiing analybcal proce(lures lo identify unusual or unexpected relationships thal may indicate rlsks of maierial misstatoment due to fraud". Reviewing 8oard meeting fflinutes". In addressing the risk ol fraud through management overnde ol eontrols, testlng the appropri8tene$¥ of jtsuwal entries and other adjustments,. assessing whether the judgements made in accounling estimates are indicative of potential bias., and evaluating the business rationale ol significant transactions Ihol are unusual OT Qutsidg tho normal coursg of busina&s. Page 8
LMNG COASTS IA CQMPANY LIMITED BY GUARANTEE} INDEPENDEMT AUDITORS. REPORT TO THE MEMBERS OF LIVING COASTS ICONTINUEDI We a150 communicated identified laws an(J regUlaOn5 and polential fraud lo all membtrr5 of the engagement team and remained alert to possible indiGators of fraud Tr)n-comDliance wilh laws and regulations Ihroughout the audit_ As 8 sU11 of the inherent limitations of an audit, there is a risk that noi all itr8gulèrities, Including a material isslalEtnenl Ihe finariLial bl<ilerTienls oi non-EomplisnrE wlh r¥gulallon. w411 bB drlEGierJ by us. Thi5 risk ine8$eS the fumher removed compliance Kryth a law or fegulalion is from the events ané Iran$a¢lions reflected in Ihe financial statements, given we will b8 less likely lo be awarts ol il, or should the irregularily occur as a result Df fr8ud rather th3n a onetr 8rror. AS thrE rnay invnlvA inlantinnAI rrealMent. forgery, collusion. omsgsitsns. or misrepresenlèlion. A further descrtptlon of our responsibillties for the audll of the financial statements is located on the Finallcial Reporting Council's website al.. vMY.Irc.o .uklaudilorsre s. This descripts'on forms part of our Auditors, Rtrport. USE OF OUR REPORT This report is made solely to the Charitable Comp8nYs eMr$. as a t)oty, in 8ccor(Janc8 44ryth Chapter 3 01 PaTL T6 of Ihv CDrripi*niVb AGI 2008. Our Kiudil wuik lid5 underioKBn 50 Ih41 vwfp miullt Sl4le lu the Charitable Companys fvlembers IhDse matters we are required lo slate lo them in an Auditors, Report and for no other purpose. To the fullest extent pemiilled by law, we do not accept or assume responsibilrty lo anyone other Ihan the Charitatle Company and ils Members. as a tthy. for audit work. for this report. or lor ihe opinions we have lomied. Mark Munro FCA (Senlar Statulory Audllor) ror on behalf of 81$hop Fl•mlng LLP Chartered Accountants sILrtOry Audllors 2nd Floor Slralus House Emperorway Exeler Business Park Exeier EX1 3QS Dale.. 27th July 2022 Page 9
30 ¥Jo< 75 7J L•f
LIVING COASTS IA COMPANY LIMITEO BY GUARANTEE) REGISTEREO NUM8ER:04620880 BALANCE SHEET ASAT 31 OCTOBER 2021 2021 2020 Not• FIXED ASSETS T8ngible a$sel$ 13 2D,805 20,805 CURRENT ASSETS SloGk5 Debtor5 Caslt ai bank and in hand 14 15 1,957 68,644 2.251 21 72.852 Creditors= amounts falling within 16 IS7,1131 NET CURRENT ASSETS 15.739 TOTAL NET ASSETS 36,544 CHARITY FUNDS Restricied iunds UIiTvilriLLe¢J furid¥ 17 2.984 33.560 17 TOTAL FUNDS 36.544 The Trustees acknowFedge Ihelr responsibiliiies for complying wilh Ihe requiremènis ol Ihe Acr with respect to aocounling re¢ords and prepaiallon of finandal slalemenls. The linancÈal statements havè been ppared in accordance wth the promsions applicaNe to èntitles subject to the small companies regime, The financial slalemenls were approved and authorised lor issue by Ihe Trustees and signed on Ihèlr behalf by., S E King5 Chair Dale= RWJFord Vicechaii z¢107 Jzol Thè notes on page$ 13 lo 27 part of these financial 8lalem8nls. Page11
LIVING COASTS (A COMPANY LIMITED 8Y GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2021 2021 2020 CASH FLOWS FROM OPERATING ACTIVITIES N&t cash lused inyprovided by operating acbviti88 122,81SI 133,2671 CASH FLOWS FROM INVESTING ACTIVITIES Interest income Proceeds from the sale of tangle fixed assets Purchase of tangibla fo¢ed a33ets 20,805 18,4621 NET CASH PROVIDED BYIIUSED INI INVESTING ACTIVITIES 20,810 18,4591 CASH FLOWS FROM FINANCING ACTIVITIES Interest paid 1246) 14501 NET CASH USEO IM FINANCING ACTMTIES {246) {450) CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR {2.251) 2.251 {42,1761 44,427 -h and ea=h ttquivalttn¢- rjt the b¢gbnnin9 of Ihe Or CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 2.251 The noigs on pages 13 to 27 fomj part of the$¥ flnancial statements P8ge 12
UV]NG COASTS (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 GENERAL INFORMATION Living Coasts Iragislerèd number 0462J880115 o prNale Company. limited by guafanle8 and incorporated in England and Wales. The registered office is Tolnes Road, Paignlon, Devon, TQ4 7EU. Living Coasts is A rAoistKhrpd e.h¥rity Iregister6d numbor 1 Dg90761_ ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS Thc financial 3t8tements have been prepared in bccord8nce th the Charitie3 SORP 102} Accounting and Reporting by Chafits"es.' Slalement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporng Sland8rcl applicable in thè UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, ihe Financial Reportino Standard applicable in the UK and Republic of Ireland IFRS 10218nd the Companies Act 2006. Liwng Coasts meets the definition of a publie b&nefit enlily under FRS 102. Asseis labililies are initially recognised at hi&toiiG¥l wsl 04 tr¥ii&4bliuri v¥luv unlvss oth¢iw¥¢ ¥lal¢U iii tli¢ ivlvvuril accounting policy. 2.2 GOING CONCERN DurirTrg Ihe prior year the declsiw was taken to 0$e the Living Coasts site. From t17Jl point. the Charity ceased all activities. Accordingly. these I[nanc81 slalemenls are prepared on a basis other LlidFI Ilicil vf <1 yuiwiy LUIILern. No adjusltnent5 to. vr ieGla5silicatir)n3 of the smounis included in these accounts prior lo the transfer were required, During the current year, all remaining assets and liabilities were transf?rr?d lo the Charills imrnediale parent, South Wesl Enviionmenlal Park5 Lirniled. Going fortvards. th& TrustÈèA intÈnd Living Coaat# will remain a dorrnant èntsly. 2.3 INCOME All Income Is recognisea ence ihe Ghaiiy has enliiiemeni 10 in8 Income. li Is prooabie inai the income will be received and ih¢ amouni of Incofnfj receivablo can bg measured reliably. nifAnl2 gre trAe.lud6d tn th& Slat@m&nt of Financial Attivitios on a we@ivable basis. Th@ bal>nc@ of it)come recoiv8d f(x Spocific purposes bul not expended during the peri(HJ is shown in Ihe relevanl lunds on the Balan Shoel. Where income is receNed in aévance of entillement of receipt. ils recognition is d&fetred and included in creditor5 as deferred income. Where enlillemenl occur$ elore income is recelved, the income is accrued. Income from the Living Cogsts Exhibil represenls income from admissions and Ihe late(l gift 8i¢J, and tt is rgco9n1d al tho dst¢ tsf admi$¢ion. The Charity allow¢ adrnies1 tts Liwin9 Co3stB in exchange for a donation of al leasl 10QA more than the usual ticket price, as an alleTnalive lo Ihe purGh8se of an admission tickel. Where visitors have decidecl to make this donation. the usual admission price is shown as income from charilable activilias and the additional amount shown as 3 donation. Where applicable, the gift aid recovered is allocated pro r8ts. Income tax recoverable in relalim lo inve$tment income 15 Tecognised al Ihe lime Ihe Inveslmenl Page 13
LFVING COASTS IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTO8ER 21121 ACCOUNTING POLICIES (continued) 2.4 EXPENDrruRE Expendiiure is recognised Dnce Ihere is a1egal or consiTucts've obligation lo transfer economic banefit to a Ihird paty, it is prob8ble that a tr8nsfer of ecDnomic benefits will be wu1 selllemerrt and thé amount ol ihe obligsiion can be measured reliably_ SuppNt costs represent Ihe general operational and administrative costs ol the Charity which do not ielale direclly lo indimdual operations. Expenditure on charitsble aclivilies is incur on directly undertaking Ihe activits.es which further th Chariws objectives. as well as any associated support costs, 2.J GOVERNMENT fjRANTS Government grants of a revenue nature are credited to the Statement of Flnandal Activities as ihe related expenditure is incurred_ 2.6 INTEREST RECEIVABLE Inieresi on funus heio on Jeposir Is Inciuoeij wnen receivable and the amouni can be mea5U reliably by the Ch8rily,' this is nomally upon notification of Ihe interest paid Dr p¥y8ble by the institution with 0M the fun(Is are deposiled. 2.7 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets ale capitslised and recognised vthen future economic bengflts are probabte 8na cosi or value oi assei can De measured reliably. T3ngibte fixed asseis are inib.ally recognised al cost. After recognition. under tha cosi model. tangible rix@cl agsets are measured at cost legs 8ccumulatgd d@pigcistion and any ¥ccitmiil3lFrl impairment k)sses. All costs Incurred lo bring a tangible fixed asset into ils inlendeé wcffking cOndi"0n should bg included in the measurernenl of cost. Depreciation Is Charged so as lo allote the ¢ost of tsngibte fixed assets less their re5i(Jual value over Iheir estimated useful lives, USI the slraight-line method. Dppwiation is proN4ded on the fdlowing bas= Fixtures and littings 5- IOyearB 2.8 STOCKS Sloeks affj valued al Ihe lower ol ¢osi and nel realis8ble value after m3king due allowance for obsolal and StOGk). Cost indudt>s all direct Gosts and tn 4pprtspri8le prc>portion of fixed and variable ovetheads. 2.9 LIABILITIES AND PROVISIONS Liabilities are recognised en there is an otAigation at the Balance Sheel rjale as a result of a past event, il is prob8ble that a Iransfer DI economic benefft 411 be Tequired in Selllemenl, and the amouni of Lhe seltlement can estimated rpliabty. Pa9e 14
LIVING COASTS IA COMPANY LIMITED 8Y GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 ACCOUNTING POLICIES {conUnu¢dl 2.10 FIMANCIAL INSTRUMENTS The Ghariiy only h#s financial asseis and financial liabiliiies of a kind thai quality as basic financial Instruments. Basic financial instruments are initially recogni5ed al Iransactr'on valve and subsequenllv measured al Iheir selU8menl valuè wFlh the exception of bank loans which are subsequeniiy m&gsur&d st omorlsd cost using the effctlve interest method. 2.11 PENSIONS The Charity cyerales a grouped, personal, define¢J conlribulK)n pension schema and the pensiL charge represents the amounts payable by the Challly to the fvnd in re5peGt ol the year, 2.12 FUND ACCOUNTING General funds are unrestricled funds ch are available for use at the diSCtr"0n of the Trustees In furtherance of the general objectives of Ihe Charity and which have not been designated for othef purposes. Restricted lunds are funds which Are lo be used in accordanc8 specific restrictions IMse[[ b donor8 or whith h8¥e been by th¢ Charity for parti¢ylov purpo3¢3. The costs of raisin9 and administering such funds are charged againsi the speufic fund. The aim anij use of each resiricted fund is Sel oul in Ihe notes to the financ4al st81ements. Investm8nl inccffle. gains and losses are allocated lo the appropriate fund. CRITICAL ACCOUNTING ESTIMATES AND AREA8 OF JUDOEMENT Eslirales and ILgeMentS are conlinualty evaluated and are based on historical expenence 8nd other factors. ifiGluding expectations of future events that are believed ID be reasonable under the circumstsnces. The Charity Tll8kes estimales and assumptions conceming the future. The resulting accounting eslirllales and assumptions will, by definition. seldom equal the related actual Tesu1ts. The TTuslees do not cSIder there to be any significant estimates or iudgements. Page 15
UVING COASTS IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 21 OCTOBER 2021 INCOME FROM DONATIONS AND LEGACIES Unre5tri¢ted R¢strlcted lunds lund¢ 2021 Total funds 2021 2021 Donalions from Soulh Wè81 Environmla1 Parks Limilad Other donations Donations 157.000 157,000 1,373 1,373 Cr8nt8 COVID.19 Grant 2.571 2.571 157,000 3,944 160,944 Unrestricled funds 2020 Restricted funds 2020 Total funds 2020 Donations from South Wèst Environmental Parks Limlled Olher donations Donation 622.000 2.130 7.094 622,0 2,130 7,094 4,600 78,40 Grants 4.600 78.404 COVID.19 Gr¥nt 631.224 83.004 714,228 INCOME FROM CHARITABLE ACTMTIES Unrestrlcted Total fund* T0ts1 2021 2021 2020 Liwng Coasts exhibit Education and other income Clidiy¥S Iv Suulli Webl zl erilvrprise¥ LirTiiLed 107,453 8,070 67,048 919 919 919 919 2L13,171 Page 16
LMNG COASTS <A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 INCOME FROM OTHER TRADING ACTnIlEs Incom• Ir¢m fundraising events Unr•strict•d funds 2021 Total funds 2021 Tolal funds 2020 Fundraising AdoptlDns 2,150 2,841 29 29 4,991 INVESThlE14T INCOMe ilnrnstrictéd funds 2021 Total funds 2021 Tnlal funds 2020 Interesl Ceivable ANALYSIS OF EXPENDITURE ON CHARrrABLE ACTIVITIES Summary by fund typ• Unrestricted Restricted funds fLtnds 2021 2021 Total funds 2021 Living Coasts exhibil Charges io South Wesi ZOD Enterprises Llmiied COVID-19 Grant Donations Tnade to South West Environmental Parks 'MIted 181.936 1.373 12.5711 10.775 4,357 186.293 1.373 2,571 10,77S 191.513 6,928 198.441 COVID-19 Grant expenditure in both ar5 relate to ¢os15 in¢urr8d 8y¥insl furlwgh ¢laims. These costs were In¢urred 8tTo$8 all Chadlabk acllvitses above. and a(8$ both supporl and direct costs. Page17
LIVING GOASTS IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 ANALYSIS OF EXPENDITURE ON CHAR ABLE ACTIVITIES ICONTINUEDI Summary by fund type Icontinuedl Unre¢tricièd lunds 2Q2D Rtleted funds 2020 Total funds 2020 Lrving Coasts exhibit Education COVID-19 Grant 1,081.890 119.322 178.4041 6,561 1,088,451 119,322 78,404 1,122.808 84,965 1,207,773 ANALYSIS OF EXPENDITURE BY ACTIvlEs Aciivllles undertaken directly 2021 Support costs 202 Total funds 2021 OK)eralion ol the park Dongtions made Donations made lo South West Environmental Par*s knmiled 54.786 1,373 10,775 131.507 186.293 1,373 10,77S 66.934 131.507 198,441 A¢tivilies unienaKen direclly 2020 Support costs 2020 Toiai funds 2020 Operatlon of the pafk Education 483,057 61,229 805.394 88,093 1.088,451 110,322 544,286 663.487 1.207,773 Page 18
LIVING COASTS {A COMPANY UMITED BY GUARANTEE) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2021 ANALYSIS OF EXPENDITURE BY ACTIVITIES ICONTINUEDI ANALYSIS OF SUPPORT COSTS Operatlon of the park edu¢otion 2021 2021 Total funds 2021 Stsff costs Establishment costs Administration costs 1,161 698 126,003 423 1,161 698 126,003 423 Financial cg¥ts Cleaning Mark&ting Govemance- auortors. fees 510 1,462 1,250 510 1,462 1,150 131,507 131,507 Oparailon of Tnt•l funds 2020 ihe park 2020 Edu¢31ion 2020 Staff costs Establishment costs Adminislralion costs Fin3nci31 costs Cleaning Markeling Depreciation Goveinance - auditors, fees Impairrnenl of assets 56.634 15,490 205,666 3,666 7,070 53,643 49,709 2,048 211,459 5.434 1,486 19,736 352 670 5,148 4,770 197 62,068 16,976 225,402 4,018 7,758 58.791 54,479 2.245 231.750 20,291 605,394 58,093 663.487 10. AUDITORS. REMUNERATION 2021 2020 Fees payable lo the Charitys auditor for the audit of the Charivs annual aGGoun15 700 1.245 Fees payable lo the Charllys auditor in SpeCt of.. All non-audil seryices not ineluded above 550 1.000 Page 19
LIVING COASTS {A COMPAhlY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 11. STAFF COSTS 2021 2020 Wages and salaries Soc181 security cos15 ConifiOU¢ion 10 ¢J8finad ¢CtrIbUOn p8nsion $them88 11,370 433.613 24.572 20.659 622 11,992 484.844 Staff $1$ includgs Tedundancy payments of £Nil 12020.. £30,651). These have been funded by unrestriet8d re$wv¢s and 8c£ounleol for on an accru¥ls b8SiS. Th& a¥er¥ge number of persons employed by the Charily during the year was as follows.. 2021 No. 20dU No. Employees 28 No employee received remuneratson amounting to more than £60,0 in eilher year. Key managèm8nl personnel r8mun8rab.on is bDme by the parent Chwities in respect of serwces of the Group. Full details can be found in the parent Charities, accounts. 12. TRUSTEES. REMUNERATION AND EXPENSES DuFiTw Ui¥ y¥dr. liv Trui11¥ We1v¥ laiiy [1Ul1¥11IV11 ui uuivr b¥ii¥fil¥ IZ020- £NILI. During the year ended 31 October 2021, no Trustee expenses have been incurred12020- £NIL}. P8oe 20
LIVING COASTS IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 OCTOBER 2021 13. T ANGIBLE FIXED ASSETS Flxtures and rittings COST At 1 November 2020 Disposals 739,300 1739,3001 At 1 November 2020 On dispwls 718,495 1718.495) Al 31 October 2021 NET 800K VALUE Al 31 Oclot¢r 2021 At 31 October 2020 20,805 14. STOCKS 2021 2020 ConsumaDies 1,95T Page 21
LIVING COASTS IA COMPANY LIMITED AY GUARANTF.EI NOTES TO TFIE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 15. DEBTORS 2021 2020 DUE WITHIN ONE YEAR Other debtors Prepayments an(J accwed Ineome Tax recoverable 4.7 51.9 11,901 68.644 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade creditors Ulher laxabon anu So81 security Other creéilors Accnjals and deferred income 7,544 1,414 46,428 57,113 Page 22
LIVING COASTS {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 17. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR 8#l¥n¢¥ #t I November 2020 Balanre at 31 October 2021 Income Exp•ndityr• UNRESTRICTED FUNDS Unrestficted lunés 33.560 157,953 1191.5131 RESTRICTED FUNDS O¢en Conneclions - Erasmus COVIO-19 Grant 2.984 12,9841 12.5711 11.371) 2,571 R•%trir.tpd dnnxtinn$ 2.984 16,928) TOTAL OF FUNDS 36,544 161,897 1198,441} COVID-19 Grant This fund relat85 lo lh8 income and expenditure associated with furtough claims mad8. Ocean Conn8Ctions . Erasmus This w35 lunding received lor a specific proj8ct, rewv8d in the prior year and lh8 project continued throughout the >ar. RestTiCted Donations This represents donaltons recieved lo be used for a specrfic PUfWSe. Page 23
LIVING COASTS IA COMPANY LIAIITED BY GUARANTEE) NOTES TO THE FINANCI STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 17. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR Balance at 1 Noven)ber 2019 Dalance at 31 October 2020 In¢ome Expenttibjre UNRESTRICTED FUNDS Unrèstricled funds 316,g79 839.389 11.122,8081 33.560 RESTRICTED FUNDS Ocean Gonneclions- Erasmus COVID-19 Gr8nt Quiet Hour Grant 4,945 11,961) (78 404) 14,600) 78,404 4.600 4,Y4> 8J,L)04 184,965} 2,984 TOTAL OF FUNDS 321,924 922.393 11,207,773) 36,544 18. SUMMARY OF FUNDS SUMMARY OF FUNDS-CURRENT YEAR Balance at 1 N0mb*w 2020 Balance at 31 OGtobtr 2021 Income Expendlture tsenerai iunus Restricted funds 33,515D 2.984 157,953 3,944 (191.513} 16.928) 36,544 161,897 1198,4411 Page 24
LMNG COASTS {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 18. SUMMARY OF FUNDS (CONTINUEDI SUMMARY OF FUNDS - PRIOR YEAR Balance at l November 2019 Balance at 31 October 2020 Income Expenditure General funds 316.979 4.945 839,389 11,122.8081 83,004 184.9651 33,560 2,984 Restricleé funds 321.924 922,393 11,207.773) 36,544 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Total funda 2021 TOTAL At the year end. all assets Ere transferred up to the Chariws imfflediale par&nl, Sovth West Environmentsl Parks Limtied ANALYSIS OF NET AsseTS BETWEEN FUNDS - PRIOR YEAR Unrestricted lunds 2020 Restricted lunds 2020 Totsl funds 2020 Tangible fixed 3ssels Curt8nt ggsgts Creditors due within on8 year 20.805 69.868 157.1131 20,805 72.852 {57,1131 2,98 TOTAL 33.560 2,984 Page 25
LIVING COASTS IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 RECONCILIATION OF 14ET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES zo. 2021 2020 Nel expen¢Jiture for the yeèr las per Statement ol Fin¥ncial Acliv¢liesl 136,5441 1285,3801 ADJUSTMENTS FOR: Deprecialion charqes Imp4imienl charges Decrease in stocks D•Gre65e ID debtor5 54.479 231.750 9.488 14.20e 158.2571 450 131 1,957 68,644 157,113) 246 15) Oe¢rtsase in creditors Interest payable Interest received NET CASH USED IN OPERATING ACTivrriES 122,8151 133,2671 21. ANALYSIS OF CASH AND CASH EQUIVALENTS ?021 202D Cash in hand 2,251 22. ANALYSIS OF CHANGES IN NET DEBT At1 Novomber 2020 Cash flows Cdsli dl bawik in 2,251 (2,2511 23. RELATED PARTY TRAN5ACTEONS As a wholly owned subsidlary underlaking of their ultimate parent, Wild Plan8t Trust, the Charity ha5 taken advanlagg gf the exemption in section 33.1A of FRS 102 in not disclosing intra-group transactions where 1000h of Ihtr voting rights are controlled wlhin the group. Page 26
LIVING COASTS IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FQR THE YEAR ENDED 31 OCTOBER 2021 CONTROLLING PARTY The immediale parent undertaking is South Wesl Environmental Parks Limited Ichanty nLJmber 300923. Company number OD7928771, which controls Ihe Charity by wrtue of the domlnant influence Dver the f.hAfily p%g.re.i.o•.d hy its Trii.¢tg..s .%ni Ith Wg.t Fnvirnnmp.ntal Parkq Limil8d is % Company incorparatF+rl n England and Wales. The ultimate parent underiaking and controlling party is Wild Plantsl Trust (Charity numb&r 3066221. I he objects ol VVilJ Planel Trust are ihe a¢vancement or scienlliic KnoTrMe(Jge, eaLJcallon ano ine promotion of conservation. Ets principal aGtivtties are the prwsiDn ol grants lo a range of conseThalion Projects. the management of nature reseeS for the benefit of yIdErfe and the public and supporting the scientifie. consèrvation and aducation rf)rk of tho othgr charibgs wiihin thg group. The gIstered Offi of l)olh parents is Tolnes Road, P8ignton, Devon, TQ4 7EU. Consolidated financlal slalemenl¥ are prepared for Wikj Planet Trust and are available at Charity Commission. Page 27