## **THE HOWLETTS WILD ANIMAL TRUST**
**CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
**Registered Charity No: 1100845 Registered Company No: 04711904 (England and Wales)**
## **THE HOWLETTS WILD ANIMAL TRUST**
## **CONTENTS**
||**Page No**|
|---|---|
|Legal and Administrative Details|1|
|Trustees' Report|2 - 11|
|Independent Auditors' Report|12 - 14|
|Statement of Financial Activities|15 - 16|
|Consolidated Balance Sheet|17|
|Company Balance Sheet|18|
|Consolidated Statement of Cash Flows|19|
|Notes to the Accounts|20 - 33|
**THE HOWLETTS WILD ANIMAL TRUST**
## **CHARITY REFERENCE AND ADMINISTRATIVE DETAILS**
**----- Start of picture text -----**
Charity registration number 1100845
Company registration number 04711904
Trustees J D A Aspinall (Chairman)
T Aspinall
A Courage (resigned 8 March 2021)
G J Farley (appointed 8 March 2021)
P O' Driscoll (appointed 8 March 2021)
Company secretary C Morrissey
Key Management Personnel J D A Aspinall (Chairman) S Jeffrey
R Amlot A B Kelly
F Aresti C Morrissey
T Aspinall P O' Driscoll
S Bailey D Sutton
J Buckingham
A Courage
G J Farley
C Gilbody
A Harland
C Harman
K Hodges
J Hopper
Registered office Port Lympne Hotel and Reserve
Lympne
Nr Hythe
Kent
CT21 4PD
Independent Auditor Azets Audit Services
5th Floor
Ashford Commercial Quarter
1 Dover Place
Ashford
Kent
TN23 1FB
Bankers Barclays Bank PLC
1 Churchill Place
London
E14 5HP
Solicitors Girlings LLP
4th Floor - Stourside Place
Station Road
Ashford
Kent
TN23 1PP
DLA Piper UK LLP
3 Noble Street
London
EC2V 7EE
**----- End of picture text -----**
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## **THE HOWLETTS WILD ANIMAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Who We Are**
The Howletts Wild Animal Trust consists of two wildlife parks operating in Kent – namely Port Lympne Hotel and Reserve in Folkestone and Howletts Wild Animal Park, Canterbury. As a dedicated animal conservation charity, our purpose is to protect endangered wildlife, improve their lives, and where possible, breed such endangered species to ensure their survival. Working with the Aspinall Foundation, we often relocate these endangered animals back into their natural habitats around the world.
Find out more by visiting www.aspinallfoundation.org/howletts or www.aspinallfoundation.org/portlympne for details of our individual parks and breeding programmes
## **Our Mission Statement**
- To provide high quality care for confiscated or rescued wild animals and breeding of species that have a demonstrable, direct conservation value or that can be released into the wild.
- To improve the welfare of every individual animal in our care for the duration of their lives.
- To communicate our objectives in a transparent and honest way and to focus only on those activities that truly deliver viable and substantial in situ conservation benefits.
## **Our Year Highlights at a Glance**
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Over 1000 97 Species Over 100 Over
Animals of Animals births this 370,000
year visitors
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## **Our Breeding Programme**
We have the largest collection of critically endangered Western lowland gorillas and one of the largest collections of Eastern black rhinoceros in the world.We are also home to a number of species that can rarely be seen in captivity outside of their native country. Our parks have maintained a significant number of successful captive births over many years.
Overall captive breeding successes of note include Western lowland gorillas and Eastern black rhinoceros. We are one of the world’s most successful breeders of fishing cats. Port Lympne is the only UK site currently breeding rusty spotted cats and within Europe we are the largest breeders of clouded leopards.
The African elephant herd at Howletts is the largest in Britain and has had more African Elephant births than all other British zoos combined. We were the first UK site to keep Barbary lions (extinct in the wild) and we are the most successful UK collection breeding DeBrazza monkeys. Howletts Wild Animal Park is also the only collection to have housed grizzled leaf monkeys outside of their native country and is the world leader in breeding the endangered Javan gibbon.
Howletts and Port Lympne, throughout 2020 continued to manage the European captive breeding recommendations (studbooks) for Clouded Leopards, Scottish Wild Cats, Painted Dogs and Javan Gibbons, as well as, the International recommendations for Bush Dogs.
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**THE HOWLETTS WILD ANIMAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Chairmans Report**
2020 will always be remembered as the year in which the COVID-19 pandemic impacted the world, its citizens and the global economies. Our world has profoundly changed. COVID-19 has challenged our assumptions about modern life. THWAT itself was placed under enormous financial strain by the closure of our parks for significant periods in 2020.
The dedication of our keepers, vets and support staff who kept our animals healthy during lockdown has been exceptional, as has the commitment and energy shown by all staff and volunteers as we navigate through COVID-19. So many of our supporters responded with generosity and donations to our work. Our thanks go to everyone who helped us pursue our vision of a world where wildlife thrives, without you, our work would not be possible.
While the future does look uncertain for everyone, the pandemic has thrown into focus the importance of animal conservation, ending the illegal wildlife trade and finding better ways for wildlife and people to live together. As lockdowns were lifted, our parks played a key role in helping people get back out into nature safely and reengage with wildlife.
Our two parks provide the ideal setting to build lasting connections between wildlife and people, and share our work, enabling visitors to enjoy inspiring days out, get close to wildlife and learn about the challenges animals face in the wild and the role people can play in conservation.
Our education programmes are specifically designed to ensure that future generations continue to care passionately about animals and their environment, and appreciate natures eco system, and the benefits that animals bring to mankind.
We have hugely exciting plans for 2021 in terms of our breeding programmes translating to animals being ready to rewild, and we are (in conjunction with the Aspinall Foundation) about to embark on the largest relocation of African Elephants ever attempted from captivity back to the wild.
We are enormously proud of our breeding record at THWAT, and the quality of life that we give to the animals in our care.
It goes without saying that our continued thanks go to The Aspinall Foundation, with whom we work very closely, and collaborate on many animal projects together. Details of the Aspinall Foundations work can be found on www.aspinallfoundation.org
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## **THE HOWLETTS WILD ANIMAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Introduction**
The Trustees of the Howletts Wild Animal Trust ("THWAT" or "the Charity") are pleased to present their annual report together with the consolidated financial statements of the Charity and its subsidiary for the year ended 31 December 2020 which are also prepared to meet the requirements for a directors' report and financial statements for Companies Act 2006 purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Charity's Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
## **Strategic Report**
## _Objectives and Strategy_
## _THWAT objectives, as set out in its Memorandum and Articles of Association, are_
The advancement and promotion (whether in England or elsewhere in the world) for the public benefit of education and useful knowledge in relation to the science of zoology the preservation and exhibition of living animals and in particular (without prejudice to the generality of the foregoing)
- 1) The preservation and exhibition of wild animals in danger of extinction
- 2) The conservation of wildlife habitats
- 3) The maintenance and expansion of breeding groups
COVID-19 required our parks to shut, under government guidelines. While roughly 50% of our staff were able to avail of the furlough scheme, the wellbeing and welfare of our animals still took priority. Our veterinary and animal handlers were consistently employed and could not avail of the furlough scheme, as our animals still required their normal care and attention.
The COVID-19 pandemic and ensuing lockdown across the world means that one of our major focuses next year will be the recovery of our two Parks after the prolonged closure and loss of so many visitors. Our Parks (and income derived from our trading subsidiary) provide the core income and building blocks on which our charitable aims are able to thrive and recovering visitor numbers safely and appropriately will be a priority. Investing in the visitor experience will be key to that. It is still unclear what the ‘new normal’ will be, as international markets reopen, and the impact that has on the UK staycation market. We hope that the positive engagement that our visitors have had on our parks, and the support for our conservation work, will ensure that we have continued success going forwards.
Volunteers are a huge factor in our success and they have contributed to our work this year. They are essential to the work we do, and assisted hugely in enabling the parks to reopen safely. The health and safety of our staff is paramount across the Charity, and the huge range of working environments present some unique challenges. Our IT team supported many of our staff moving to work from home during the COVID-19 lockdown.
With increased competition from visitor attractions across the UK, and the uncertainty around tourism created by Brexit, we have continued to engage a broad range of audiences and expanded into new areas wherever possible.
THWAT’s achievements would not be possible without the generosity of its supporters. We would like to thank all the individuals, companies and agencies who have supported us during 2020.
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**THE HOWLETTS WILD ANIMAL TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Animal Collection and Breeding Successes**
THWAT has its own collection planning process for each of its parks, which is strongly influenced by our own mission, aims, geography, facilities, expertise, history and budget
Covid has delayed our plans to gift animals to The Aspinall Foundation for rewilding, but as soon as animals can freely move again, we will consider whether it is appropriate to consider animals for rewilding. Since 2003, THWAT has donated scores of animals to relevant charities (most notably the Aspinall Foundation) for rewilding to their natural habitats. Despite the challenges that Covid presented us with, we are always available to assist animals and continued to rescue animals in 2020 and 2021 – most notably the rescue of a family of brown bears from Andorra and two lions from a zoo in Wales that was forced to close. Both sets of animals were rehomed in custom built enclosures at our Port Lympne reserve.
## **Parks Operations**
Despite being shut for 122 days in the year, our day visitor numbers performed far ahead of budget for the periods we were able to trade. The staycation market gave us a natural boost in numbers, where people were looking for outdoor activities to spend their leisure time in after months of lockdown.
## **Going concern and COVID-19**
The financial statements have been prepared on a going concern basis. In determining the appropriate basis of preparation of the financial statements, the Trustees are required to consider whether the Charity and the group can continue in operational existence for the foreseeable future.
Information in relation to the Charity and group's activities, together with the factors likely to affect future development, performance and position is set out in this Trustee Report, including the Risk Management section later in this Trustees Report.
The parks were closed for 122 days (160 days for accommodation guests), resulting in a significant drop in income. As of the date of this report the parks have fully reopened, albeit with reduced visitor capacity and income in the early days of reopening in line with government guidance. Operating costs have been significantly reduced with discretionary spend curtailed. Capital expenditure plans have been suspended, with only those projects that were in progress at the time of closure continuing to completion.
However, there remains uncertainty as to the development of the COVID-19 pandemic and further national or local lockdowns remain a possibility. The ability of the Charity to withstand further closures depends on its timing and duration. In addition, the potential of an economic downturn following the pandemic may impact visitor numbers and memberships. As a consequence of these uncertainties the Trustees have considered downside scenarios that reflect such potential closures.
The Trustees consider that the Charity and group are well placed to manage the risks within its control and mitigate those outside its control, including the impact of the COVID-19 pandemic. After the review of forecasts and predictions for the period to 31st December 2022, taking account of reasonably possible changes in income and considering the existing banking facilities, including the available liquidity and covenant tests, the Trustees have a reasonable expectation that the Charity and group has adequate resources to continue in operational existence for the next 12 months following the date of approval of the financial statements and these financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.
## **Trading Subsidiary**
Covid meant that our overnight accommodation business was shut for 160 days in 2020, which severely impacted on revenues and also the ancillary revenue from the guests on safaris, food and beverage. Other income streams such as weddings and conferences ceased overnight due to Covid, and are still hugely impacted due to restrictions on guest numbers.
While our subsidiary business has also been affected by lockdowns in 2021, we only lost the second week of peak trading at Easter 2021, and assuming we have no further Covid lockdowns, we are confident in the fundamentals of our trading subsidiary for 2021 and subsequent years to provide a continued reliable source of income for THWAT. Forward contractual bookings are very strong for 2021.
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## **THE HOWLETTS WILD ANIMAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Principal objectives for the year**
The objectives for the Group in 2020 were:
- achieving targeted levels of visitor and overnight accommodation numbers;
- keeping costs under control, focusing on revenue-generating activities and targeting a sustainable surplus;
- enhancing the animal welfare experience by making improvement to our parks;
- Continuing to fulfil our mission objectives.
## **UK Government COVID-19 related support**
UK Government COVID-19 related support in 2020 included the Coronavirus job retention scheme plus a year’s business rates holiday. Cashflow was positively impacted by being able to defer PAYE/NI payments and spread future payments over the 2021 year and defer quarterly VAT payments with the amounts due being deferred throughout 2021.
## **Local Council COVID-19 related support**
The Parks would like to record their thanks to each of Folkestone and Hythe Council and Canterbury Council for the support that they have extended to the Parks in 2020 and 2021.
## **Financial Review**
Total income for the year amounted to £15,167,194 (2019: £16,304,723). Expenditure amounted to £16,057,380 (2019: £16,351,048). The above movements resulted in net expenditure for the year of £890,186 (2019: £46,325). The Howletts Wild Animal Trust delivered a consolidated fund deficit of £1,724,197 (2019: £834,011) on the unrestricted fund and £3,566 (2019: £3,566) on the restricted funds. The Howletts Wild Animal Trust aims to build a surplus in order to develop the organisational operating reserve.
The Trustees reported a net decrease in restricted, unrestricted and non-charitable funds of £890,186 (2019: £46,325). The consolidated balance sheet at 31 December 2020 shows a net current liability position of £1,720,631 (2019: £830,445).
## **Reserves Policy**
Reserves are maintained at a level that enables the Charity to manage financial risk and short-term income volatility. They aim to allow the Charity to sustain optimal levels of conservation programme work, provide appropriate care for the animals in our Parks and maintain the infrastructure that allows us to operate, ensuring that financial commitments can be met as they fall due. THWAT’s Trustees has set a minimum long-term liquidity and general reserves requirement to ensure the financial sustainability of the Charity. The reserves target is based on the relationship between readily realisable cash and investments, future liabilities for committed capital developments, the cash requirements for sustaining THWAT’s operations for a period of time and the level of general reserves required to support this. THWAT’s policy concerning the level of cash and investments and general reserves is to have funds available to cover the costs of running the Parks during an emergency closure to the public for a period of up to three months, and to meet liabilities as they fall due.
## **Liquidity and General Reserves**
Given the challenging external market conditions THWAT took a balanced approach to maintaining its cash and general reserves. Banking facilities were extended both in terms of value and unexpired term and expenditure was tightly controlled to preserve cash.
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**THE HOWLETTS WILD ANIMAL TRUST**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Plans for the future**
We will continue to have a strong focus on developing an interesting and diverse range of accommodation at Port Lympne with the aim of achieving increased visitor numbers all year round. In 2021 we plan to add more unique accommodation to the portfolio with unprecedented proximity to the animals; including the launch of Leopard Creek.
## **Remuneration policy**
The Trustees determine and agree the overall policy for the remuneration and pension arrangements for all the charity’s employees and oversees any major changes to employee benefits. The Charity’s reward principles are to ensure the same remuneration system applies to all, except where there are justifiable reasons for making separate arrangements.
The charity aims to provide an overall reward package that is competitive within the sectors in which it operates. In assessing levels of remuneration, the charity may use external professional advice and salary survey databases from public, private and charity sectors. The charity recognises that it must provide an overall reward package that is competitive to attract and retain high calibre staff to deliver our mission, vision and values.
## **Equal Opportunities**
THWAT is an equal opportunities employer and is committed to promoting equal opportunity for all staff and job applicants. THWAT has an equal opportunities policy and does not discriminate against staff on the basis of their gender, sexual orientation, marital or civil partner status, gender reassignment, race, colour, nationality, ethnic or national origin, religion or belief, disability or age. This policy applies to all aspects of our relationship with staff and to relations between staff members at all levels. This includes job advertisements, recruitment and selection, training and development, opportunities for promotion, conditions of service, pay and benefits, conduct at work, disciplinary and grievance procedures, and termination of employment.
## **Risk Management**
The risk management process assists the Trustees and management by facilitating the identification and assessment of significant risks to the achievement of objectives. The process is supported by a risk management policy which outlines the roles and responsibilities of Trustees, management, and staff.
The Board of Trustees is ultimately responsible for risk and reviews its risk management arrangements at least annually. The Board is supported by the Audit Committee, which regularly reviews the content of the strategic risk register and seeks assurance over the adequacy of arrangements in place to manage the risks. The strategic risk register is not an exhaustive list of risks and many other non-strategic risks can and do impact on our business.
There is a clearly defined Risk Matrix that sets out the types and levels of risk the Board of Trustees are prepared to accept. The evaluation of individual risks through this lens allows the Board to assess whether its risk taking is within the defined risk appetite and whether additional management actions are required.
Individual departments and identified risk owners are responsible for the identification, assessment and review of risks which fall in their area of responsibility. Risks are prioritised using an agreed scoring methodology. The risk management process is facilitated and monitored by the Board.
2020 has brought unprecedented challenges as a result of the COVID-19 pandemic. Whilst these have stretched all organisations, not least our charity, we have benefited from well-established risk management processes. The teams have also managed to maintain their various operational responsibilities, with previous work on addressing People, Business Continuity, and Technology Risks.
The key risks identified by the Trustees are outlined in the table on the following page:
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## **THE HOWLETTS WILD ANIMAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
**----- Start of picture text -----**
Score Probability Impact
Financial (Income) Mitigation Actions to be taken
Material loss of funding Funding Strategy Implemented outlining
adversely affects ability to diversification of income sources, fundraising,
maintain existing services exit strategies in place, keeping costs down. 15 3 5
Significant increase in Little mitigation possible. Maintain relationships
operating costs for non-occurrence / early warning 4 1 4
Fraud or misappropriation
of funds Good financial controls in place 1 1 1
People Mitigation Actions to be taken
Loss of key member(s) of Shared responsibilities across roles,
staff affecting ability to developing internal resilience through
deliver existing services shadowing and delegation 12 4 3
Up to date Health & Safety Procedures in
Member of staff injured or place; outreach safety mechanisms in place
attacked i.e. Suitable risk assessments undertaken. 3 1 3
Clear understanding of skills and
competencies; clearly set out requirements
when recruiting; good training in place;
Staffing approach excellent communications re. daily briefings to
ineffective for service provide regular up to date guidance on
delivery approach. 9 3 3
Infrastructure Mitigation Actions to be taken
Office-based ICT or
premises
inaccessible/materially
compromised Business Continuity Plan in place. 3 1 3
Physical damage to
property Appropriate insurances in place 3 1 3
Reputation Mitigation Actions to be taken
Data Protection Policy in Place; annual GDPR
Failure to comply with training, regular briefings regarding
legislation/regulations confidentiality of data 8 2 4
Service perceived as Annual review of animals requirements to
failing to meet better understand need; increased profile
existing/evolving animal raising with stakeholders, supporters regarding
and/or trust needs how we meet relevant needs. 6 3 2
Quality of animal care
and capability of parks Established system of Quality Assurance,
called into question Ongoing training 4 1 4
Animals Mitigation Actions to be taken
Notifiable Disease Vet Team monitoring, Ongoing training for vets 12 3 4
Vet Team monitoring, Ongoing training for
Disease Outbreak (non- vets, following government guidelines, hand
notifiable) wash stations 12 3 4
**----- End of picture text -----**
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## **THE HOWLETTS WILD ANIMAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Fundraising**
The key sources for income at THWAT are a) gate income and b) trading income that has been gifted to THWAT by its wholly owned subsidiary. Gate Income is the admission fee that the visitors pay to enter our parks. THWAT receives income from its wholly owned subsidiary, Howletts and Port Lympne Estates Limited, which is primarily a short breaks accommodation. THWAT benefits from applicable gift aid income on qualifying donations.
THWAT undertakes little or no direct fundraising from our supporters, apart from that outlined above. On the rare occasions that we fundraise directly, we aim to ensure that our supporters and the wider public are treated fairly and with respect. We are continually looking for ways to improve and to ensure we address new challenges and adopt new regulations effectively. Despite turbulent economic times, we remain fully committed to our core fundraising principles.
## **Protecting vulnerable people**
We are a charity that operates across all of society, and as such our fundraisers will inevitably come into contact with people who may be in vulnerable circumstances. We are especially careful and sensitive when engaging with vulnerable people. Our practices reflect this, for example through our guidance and training, and we strive to ensure our staff and third-party fundraisers follow these too.
## **Working with third-party fundraisers**
We are constantly reviewing the way we engage with our supporters and the public and have chosen not use third-party organisations to fundraise door-to-door. We work closely with our staff to ensure they share our goal of creating the very best interactions with supporters and the public. This is supported by robust contracts specifying that individuals who carry out these activities should be trained to adhere to applicable laws and codes, such as the data protection laws. Our monitoring practices include delivering training and listening to recorded telephone calls. If we find cause for concern, we investigate as a matter of urgency and take appropriate action.
## **Supporter data**
Responsible use of personal data remains at the heart of our supporter engagement. We are transparent about what we do with personal data and strive to ensure that our supporters feel confident in how we are using it. We maintain and demonstrate compliance with the General Data Protection Regulation.
## **Feedback and complaints**
We had over 370,000 interactions with our supporters last year through a wide range of channels, including events, face-to-face, by email, in the press, through social media and on our website. In the current year, we have started to capture all complaints raised against us. We regularly undertake supporter surveys to get direct feedback from our donors. Where shortcomings were identified, we expanded our guidance and training for staff and fundraisers and put new processes in place, both to prevent recurrence of the issues and to improve our supporters’ experience. For example, we retrained staff face-to-face on the process of completing direct debits, raised awareness among retail staff to ensure Gift Aid sign-ups are accurate, and introduced a procedure for managing allegations of fraudulent activity. Complaints and supporter feedback are an important source of information about the impact that our work has on our supporters and members of the public, providing us with insight and lessons for future activities. We provide details of how to contact us, and will include details our complaints process, on our website.
## **Governance**
The Howletts Wild Animal Trust (‘THWAT’) is a company registered in England and Wales under company number 04711904 and registered charity (number 1100845) under the Charities Act 2011.
THWAT has a single subsidiary (Howletts and Port Lympne Estates Limited a company registered in England and Wales under company number 01120626) for investment purposes and details are set out in note 14 of the financial statements.
The trustees who served during the year are:
J D A Aspinall T Aspinall A Courage (resigned 8 March 2021)
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## **THE HOWLETTS WILD ANIMAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Public benefit**
The Trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public guidance published by the Charity Commission, including its supplementary guidance on fee charging.
The Charity relies on income from admission fees, accommodation, food & beverage and retail sales and other charges to cover its operating costs and in setting the pricing structure, the Trustees give careful consideration to the accessibility of the parks to those on low incomes. Coupled with a flexible pricing structure, many visitors enjoy concessionary prices which are set to encourage visits by children, students, families, senior citizens and those with disabilities
## **Trustees**
There are four Trustees (two of whom are independent) and they have trustee responsibility for meeting our charitable obligations.
Board members also generally serve on one or more of our committees – the Audit Committee and the Related Party Committee.
Since the publication of the 2019 Annual Report, we have said farewell to Amos Courage. In thanking Amos for his great contributions we also warmly welcome his successors, Guy Farley and Patrick O’Driscoll both of whom joined the Audit Committee and Related Party Committee.
The Trustees take trustee recruitment very seriously and invest time and resource in finding, inducting and developing the highest calibre people.
## **Trustees' Training**
The relationship between the executive and the Trustees is fundamental to the charity's success. It is vitally important therefore that the Trustees understand the overall day to-day operational activities of the charity. To this end, new Trustees are required to complete an induction tour of the park's various divisions, and to discuss with the executive team the role and function of each division, and the part it plays in the fulfilment of the charity's mission.
All Trustees are encouraged to review and understand the relevant literature, covering the role and responsibilities of being a charity trustee.
Other specific training is provided from time to time as required, and online training resources are available to Trustees.
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## **THE HOWLETTS WILD ANIMAL TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Trustees’ Responsibility Statement**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year to give a true and fair view of the state of affairs of the charity and of the incoming resources and the application of resources of the charity for that period.
In preparing the financial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity and its subsidiary transactions and disclose with reasonable accuracy at any time the financial position of the charity and the Group and enable them to ensure that the financial statements comply in all material respects with the Charities Act 2011, and the Charity (Accounts and Reports) Regulations 2008.
The trustees are also responsible for safeguarding the assets of THWAT (the ‘parent charity’) and its subsidiaries (‘the Group’) and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the organisational and financial information included on website of the charity.
## **Disclosure of information to auditors**
Each of the Trustees have confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are aware of such information.
**Signed J D A Aspinall** Chairman
**Date: 28 September 2021**
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## **THE HOWLETTS WILD ANIMAL TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE HOWLETTS WILD ANIMAL TRUST**
## **Opinion**
We have audited the financial statements of The Howletts Wild Animal Trust for the year ended 31 December 2020 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charitable Balance Sheets, the Consolidated Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK (United Kingdom Generally Accepted Accounting Practice).
## In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s and groups affairs as at 31 December 2020, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- • have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis of opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
We draw attention to the disclosures relating to the impact of Covid-19 since the year end set out in note 1.20. Our opinion is not modified in respect of this matter.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report , other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees’ report (incorporating the strategic report and the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
- 12 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE HOWLETTS WILD ANIMAL TRUST**
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors’ remuneration specified by law are not made; or
- • we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Extent to which the audit was considered captable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- Reviewing minutes of meetings of those charged with governance;
- • Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
- 13 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF**
## **THE HOWLETTS WILD ANIMAL TRUST**
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
**Michelle Wilkes FCA** (Senior Statutory Auditor) for and on behalf of Azets Audit Services Statutory Auditor
## **Date: 29 September 2021**
5th Floor Ashford Commercial Quarter 1 Dover Place Ashford Kent TN23 1FB
- 14 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**Note**
**Income from:**
Donations and grants
**2**
Charitable activities
**3**
Other trading activities
**4**
Other income
**5**
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**6**
**Net movement in funds**
**Reconciliation of funds:**
**Total funds carried forward**
Total funds brought forward|**Unrestricted**
**funds**
**Restricted**
**funds**
**2020**
**Total funds**
**£**
**£**
**£**
93,544
43,270
136,814
5,297,284
-
5,297,284
9,210,553
-
9,210,553
522,543
-
522,543
15,123,924
43,270
15,167,194
7,975,267
-
7,975,267
8,038,843
43,270
8,082,113
16,014,110
43,270
16,057,380
(890,186)
-
(890,186)
(834,011)
3,566
(830,445)
(1,724,197)
3,566
(1,720,631)|**2019**
**Total funds**
**£**
13,636
5,377,475
10,823,250
90,362
16,304,723
9,133,066
7,217,982
16,351,048
(46,325)
(784,120)
(830,445)|
|---|---|---|
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
- 15 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **COMPARATIVE INFORMATION ONLY**
|**Note**
**Income from:**
Donations and grants
**2**
Charitable activities
**3**
Other trading activities
**4**
Other income
**5**
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**6**
**Net income before transafers**
**Transfers between funds**
**Net movement in funds**
**Reconciliation of funds:**
**Total funds carried forward**
Total funds brought forward|**Unrestricted**
**funds**
**Restricted**
**funds**
**2019**
**Total funds**
**£**
**£**
**£**
3,636
10,000
13,636
5,377,475
-
5,377,475
10,823,250
-
10,823,250
90,362
-
90,362
16,294,723
10,000
16,304,723
9,133,066
-
9,133,066
7,214,009
3,973
7,217,982
16,347,075
3,973
16,351,048
(52,352)
6,027
(46,325)
10,000
(10,000)
-
(42,352)
(3,973)
(46,325)
(791,659)
7,539
(784,120)
(834,011)
3,566
(830,445)|
|---|---|
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
- 16 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **CONSOLIDATED BALANCE SHEET** _**AS AT 31 DECEMBER 2020**_
|**Note**
**Fixed assets**
Intangible assets
**11**
Tangible assets
**12**
**Current assets**
Stock
**15**
Debtors
**16**
Cash at bank and in hand
**17**
**Net current liabilities**
**Total assets less current liabilities**
**Net assets**
**Charity funds**
Restricted funds
**20**
Unrestricted funds:
Designated funds
**19**
General funds
General Non-charity funds
**14**
**Total funds**
**21**
**Creditors: amounts falling due after more**
**than one year**
**Creditors: amounts falling due within one**
**year**
**18**|**£**
**£**
-
8,290,428
8,290,428
171,301
980,817
465,029
1,617,147
(7,373,587)
(5,756,441)
2,533,988
(4,254,619)
(1,720,631)
3,566
-
(3,120,412)
1,396,215
(1,720,631)
**2020**|**£**
**£**
3,910
7,336,344
7,340,254
201,599
861,560
180,407
1,243,566
(6,029,617)
(4,786,050)
2,554,204
(3,384,649)
(830,445)
3,566
771
(3,795,712)
2,960,930
(830,445)
**2019**|
|---|---|---|
The financial statements were approved and authorised for issue by the Board on 28 September 2021
Signed on behalf of the Board of Trustees
**J D A Aspinall** Chairman
The notes on pages 20 to 33 form part of these financial statements.
**Company Number: 04711904**
- 17 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **CHARITY BALANCE SHEET** _**AS AT 31 DECEMBER 2020**_
|**Note**
**Fixed assets**
Tangible assets
**12**
Investments
**14**
**Current assets**
Debtors
**16**
Cash at bank and in hand
**17**
**Net current liabilities**
**Total assets less current liabilities**
**Net liabilities**
**Charity Funds**
Restricted funds
**20**
Unrestricted funds:
Designated funds
**19**
General funds
**Total funds**
**Creditors: amounts falling due after more**
**than one year**
**Creditors: amounts falling due within one**
**year**
**18**|**£**
**£**
1,608,035
2,694,236
4,302,271
3,652,623
762
3,653,385
(6,682,017)
(3,028,632)
1,273,639
(4,223,769)
(2,950,130)
3,566
-
(2,953,696)
(2,950,130)
**2020**|**£**
**£**
1,530,452
2,694,236
4,224,688
3,546,040
-
3,546,040
(8,813,480)
(5,267,440)
(1,042,751)
(2,581,906)
(3,624,657)
3,566
771
(3,628,994)
(3,624,657)
**2019**|
|---|---|---|
The financial statements were approved and authorised for issue by the Board on 28 September 2021
Signed on behalf of the Board of Trustees
**J D A Aspinall** Chairman
The notes on pages 20 to 33 form part of these financial statements.
**Company Number: 04711904**
- 18 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **CONSOLIDATED CASH FLOW STATEMENT** _**AS AT 31 DECEMBER 2020**_
**----- Start of picture text -----**
Group
Note 2020 2019
£ £
Cash flow from operating activities
Net cash (used in)/provided by operating activities 24 2,266,033 1,822,078
Cash flow from investing activities
Purchase of property, plant and equipment (2,067,616) (993,667)
-
Sale of property, plant and equipment 21,526
Net cash flow from investing activities (2,067,616) (972,141)
Cash flow from financing activities
Cash flows from borrowing 762,565 (572,152)
Net cash flow from financing activities 762,565 (572,152)
Change in cash and cash equivalents in the year 960,982 277,786
Cash and cash equivalents at 1 January 2020 (1,113,730) (1,391,516)
Cash and cash equivalents at 31 December 2020 (152,748) (1,113,730)
**----- End of picture text -----**
- 19 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **1.1 Basis of accounting**
The Howletts Wild Animal Trust is a registered charitable company in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are the advancement and promotion for the public benefit of education and useful knowledge in relation to the science of zoology, the preservation and exhibition of living animals.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) issued on 16 July 2014 as amended by Bulletin 1 and the Financial Reporting Standard applicable in the United Kingdom (FRS 102) and the Charities Act 2011.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **1.2 Consolidation**
The consolidated financial statements incorporate the results of the charity and its trading subsidiary, Howletts and Port Lympne Estates Limited, for the year ended 31 December 2020. As a consolidated Statement of Financial Activities is published, a separate Statement of Financial Activities for the parent company is omitted from the group statements by virtue of Section 408 of the Companies Act 2006.
## **1.3 Company status**
The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.
## **1.4 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **1.5 Income recognition**
All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
- 20 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies (continued)**
## **1.5 Income recognition**
## **Donations and donated services**
- Donated services or facilities are recognised when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
- On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
- Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
- Income from the sale of gift vouchers is recognised when the gift vouchers are redeemed. Therefore, amounts received in respect of gift vouchers that have not been redeemed by the year end are deferred to future accounting periods. Gift vouchers that have not been redeemed two years from the year end in which they were purchased are released to the statement of financial activities at that point.
## **Sale of goods**
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
-
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
## **Rendering of services**
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- It is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
- the revenue for short breaks is included within the period the break is taken.
## **Government grants**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
- **1.6 Expenditure recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
Raising funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
- 21 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies (continued)**
## **1.6 Expenditure recognition**
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
All resources expended are inclusive of irrecoverable VAT.
## **1.7 Intangible fixed assets and amortisation**
Intangible assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment. Amortisation is provided on intangible fixed assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:
**----- Start of picture text -----**
|||
|---|---|
|Purchased computer software|- 3 years straight line|
|Website development costs|- 3 years straight line|
**----- End of picture text -----**
## **1.8 Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Fixed assets below £500 are not capitalised.
**----- Start of picture text -----**
|||
|---|---|
|Plant and machinery|- 25% reducing balance|
|Motor vehicles|- 25% reducing balance|
|Property improvements|- 3.33 - 20% straight line|
|Fixed assets under construction|- not depreciated until in use|
**----- End of picture text -----**
## **1.9 Animals**
The value of animals owned by the Group is not included on the Group's balance sheet. The costs incurred when acquiring the animals are charged to the statement of financial activities when incurred. Details of number of animals owned by the Group are disclosed in note 13.
## **1.10 Investments**
Investments in subsidiaries are valued at cost less provision for impairment.
## **1.11 Stocks**
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the statement of financial activities.
- 22 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies (continued)**
## **1.12 Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **1.13 Financial instruments**
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.14 Leasing and hire purchase**
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Charity. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
## **1.15 Operating leases**
Rentals under operating leases are charged to the statement of financial activities on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.
The Group has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 1 January 2014 to continue to be charged over the period to the first market rent review rather than the term of the lease.
## **1.16 Pensions**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **1.17 Finance costs**
Finance costs are charged to the statement of financial activities over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
## **1.18 Tax**
Tax is recognised in the statement of financial activities, except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
**1.19 Judgements and key sources of estimation uncertainty** Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
- 23 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies (continued)**
## **1 Judgements and key sources of estimation uncertainty**
## _Useful economic lives of tangible assets_
The group has recognised tangible fixed assets with a carrying value of £8,290,428 at the year end as disclosed in note 12. These assets are stated at their cost less provision for depreciation and impairment. The charity's accounting policy sets out at note 1.8 the approach to calculating depreciation for these assets. For property improvements, the group determines at construction reliable estimates for the useful life of the asset. These estimates are based upon such factors as the expected use of the asset and market conditions. At subsequent reporting dates the Trustees consider whether there are any factors such as changes in market conditions that indicate a need to reconsider the estimates used.
## _Bad and doubtful debts_
The value of trade debtors is sensitive to the recoverability in full of any invoices issued to each customer. Once the debt becomes overdue it is chased and periodically reviewed to ensure it is recoverable in full. If a provision is deemed necessary this is included on an annual basis. No provision for bad and doubtful debts is currently included in the accounts.
## **1.2 Going concern**
The trustees are of the opinion that The Howletts Wild Animal Trust is a Going Concern as at 31 December 2020 and remains a Going Concern as at the approval of these financial statements.
The group has benefitted from a significant amount of support from its lenders, including additional finance, capital repayment holidays on existing finance, and extended overdraft facilities.
The parks were temporarily closed for three months from March 2020 and again from November 2020. However, since reopening, visitor numbers and occupancy rates have significantly outperformed budgeted expectations.
The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
|**2**
**Donations and grants**
Donations other|**2020**
**£**
136,814
136,814|**2019**
**£**
13,636
13,636|
|---|---|---|
The Trust benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
|**3**
**Income from charitable activities**
Gate income from Animal Parks
Memberships
**4**
**Income from other trading activities**
Trading subsidiary
Other income
**5**
**Other income**
Sundry income
Education activities
Job Retention Scheme|**2020**
**£**
4,884,460
412,824
5,297,284
**2020**
**£**
8,180,910
1,029,643
9,210,553
**2020**
**£**
20,197
2,747
499,599
522,543|**2019**
**£**
4,734,277
643,198
5,377,475
**2019**
**£**
10,823,250
-
10,823,250
**2019**
**£**
70,917
19,445
-
90,362|
|---|---|---|
- 24 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
**----- Start of picture text -----**
Staff Direct Other 2020 2019
6 Expenditure costs costs costs Total Total
£ £ £ £ £
Raising funds
Commercial activities 4,494,133 3,461,188 19,946 7,975,267 9,133,066
Charitable activities
Operation of parks 4,593,334 1,464,723 2,024,056 8,082,113 7,217,982
9,087,467 4,925,911 2,044,002 16,057,380 16,351,048
7 Support costs 2020 2019
£ £
Freight and carriage 21,503 25,372
Sundry 7,721 16,098
Staff training 15,767 12,347
Motor running costs 3,226 8,637
Rent, rates and water 236,432 235,619
Light and heat 527,416 551,962
Printing, postage and stationery 16,629 13,278
Telephone 24,584 13,332
Computer costs 124,745 81,978
Subscriptions 22,777 18,501
Cleaning 34,498 16,839
Staff recruitment costs 13,469 15,037
Bank charges and interest 139,901 96,067
Insurance 131,754 65,057
Advertising and marketing 58,479 215,751
Equipment hire 84,047 9,184
Bad debt write offs - 1,995
Depreciation and profit on disposal 375,375 251,369
Dinosaur rental 107,891 123,787
Governance:
Audit and accountancy fees 32,288 26,000
Legal and professional 65,500 39,808
2,044,002 1,838,018
8 Net income for the year 2020 2019
£ £
This is stated after charging:
Depreciation 1,220,937 1,136,141
Auditors remuneration
- audit 19,750 19,750
- other services 12,538 6,250
Directors remuneration 272,937 180,122
Operating lease rentals 107,891 123,787
9 Staff costs 2020 2019
£ £
Wages and salaries 8,327,776 7,204,629
Social security costs 560,450 484,126
Other pension costs 199,241 158,113
9,087,467 7,846,869
**----- End of picture text -----**
- 25 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **9 Staff costs**
The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £199,241 (2019: £158,114).
The average number of employees by headcount during the year was 444 (2019: 440).
The average number of employees by full time equivalent during the year was as follows:
**----- Start of picture text -----**
||||
|---|---|---|
|2020|2019|
|No.|No.|
|Animal departments|82|82|
|Estates|42|36|
|Rangers and Safaris|25|26|
|Retail, Catering & Short breaks|157|141|
|Administation|21|21|
|327|306|
**----- End of picture text -----**
The number of employees employed by the group whose remuneration for the year fell within the following bands were:
**----- Start of picture text -----**
||||
|---|---|---|
|2020|2019|
|No.|No.|
|£60,000 to £69,999|1|-|
|£70,000 to £79,999|1|-|
|£80,000 to £89,999|-|1|
|£100,000 to £109,999|2|1|
|£130,000 to £139,999|-|1|
|£240,000 to £249,999|1|-|
**----- End of picture text -----**
The senior management team includes the Trustees of the Charity, the directors of its wholly owned subsidiary and other key senior staff who are in charge of directing and controlling, running and operating the charity on a day to day basis. As detailed below, no trustees received remuneration during the period. The remuneration and benefits of the group's key management personnel total £1,103,741 (2019: £409,183).
Please note that the above bandings are not representative of the usual remuneration of these personnel as the management team, including those disclosed above, voluntarily reduced their salaries during the closure of the parks due to the Covid-19 pandemic.
## **10 Trustee remuneration**
The Trustees were not paid remuneration or reimbursed expenses during the year (2019: None).
## **11 Intangible fixed assets**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|Website|
|Development|
|Group|costs|Software|Total|
|£|£|£|
|Cost|
|As at 1 January 2020|44,472|26,261|70,733|
|Additions|-|-|-|
|As at 31 December 2020|44,472|26,261|70,733|
|Amortisation|
|As at 1 January 2020|40,562|26,261|66,823|
|-|
|Charge|3,910|3,910|
|As at 31 December 2020|44,472|26,261|70,733|
|Net book value|
|As at 31 December 2020|-|-|-|
|As at 31 December 2019|3,910|-|3,910|
**----- End of picture text -----**
- 26 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**12 Tangible fixed assets**
**_Group_**
_Cost_
As at 1 January 2020
Additions
Disposals
Transfers
As at 31 December 2020
_Depreciation_
As at 1 January 2020
Charge
Elimination on disposals
As at 31 December 2020
_Net book value_
As at 31 December 2020
As at 31 December 2019|**£**
**£**
**£**
**£**
**£**
2,693,319
615,693
15,898,298
438,073
19,645,383
435,762
66,055
86,083
1,587,121
2,175,021
-
(1)
(146,733)
-
(146,734)
-
-
283,893
(283,893)
-
3,129,081
681,747
16,121,541
1,741,301
21,673,670
2,382,964
575,957
9,350,117
-
12,309,038
179,253
45,118
996,566
-
1,220,937
-
-
(146,733)
-
(146,733)
2,562,217
621,075
10,199,950
-
13,383,242
566,864
60,672
5,921,591
1,741,301
8,290,428
310,355
39,736
6,548,181
438,073
7,336,344
**Total**
**Plant and**
**machinery**
**Motor**
**vehicles**
**Property**
**improvements**
**Assets under**
**construction**|
|---|---|
|**2020**
**2019**
**£**
**£**
Plant and machinery
65,584
32,567
Motor Vehicles
70,949
48,933
The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:|**2020**
**2019**
**£**
**£**
Plant and machinery
65,584
32,567
Motor Vehicles
70,949
48,933
The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:|
|---|---|
|Total|136,533
81,500|
|**_Charity_**
**£**
**£**
**£**
_Cost_
As at 1 January 2020
1,979,806
418,484
5,998,265
Additions
76,454
66,055
79,634
Disposals
-
(1)
-
Transfers
-
-
7,094
**Plant and**
**machinery**
**Motor**
**vehicles**
**Property**
**improvements**|**£**
**£**
-
8,396,555
231,315
453,458
-
(1)
(7,094)
-
**Assets under**
**construction**
**Total**|
|As at 31 December 2020
2,056,260
484,538
6,084,993|224,221
8,850,012|
|_Depreciation_
As at 1 January 2020
1,713,096
377,835
4,775,172
Charge
85,772
26,898
263,204
Elimination on disposals
-
-
-|-
6,866,103
-
375,874
-
-|
|As at 31 December 2020
1,798,868
404,733
5,038,376|-
7,241,977|
|_Net book value_
As at 31 December 2020
257,392
79,805
1,046,617|224,221
1,608,035|
|As at 31 December 2019
266,710
40,649
1,223,092|-
1,530,452|
|**2020**
**2019**
**£**
**£**
Plant and machinery
24,425
32,567
Motor Vehicles
34,250
-
The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:|**2020**
**2019**
**£**
**£**
Plant and machinery
24,425
32,567
Motor Vehicles
34,250
-
The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:|
|---|---|
|Total|58,675
32,567|
|||
|- 27 -||
## **THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **13 Animal numbers**
In accordance with its objectives, the Group owns wild animals that it exhibits at its two wild animal parks at Howletts and Port Lympne. The Trustees do not consider it possible to determine a reasonable value for these animals and so, as per note 1.8, they are not included on the Group's balance sheet. At 31 December 2020, the following animals were located at the Group's two wild animal parks:-
**----- Start of picture text -----**
||||||
|---|---|---|---|---|
|2020|2020|2019|2019|
|Howletts|Port Lympne|Howletts|Port Lympne|
|No.|No.|No.|No.|
|Carnivores|44|84|51|74|
|Elephants|14|-|13|-|
|Gorillas|26|21|28|18|
|Hoofstock|36|454|47|482|
|Primates|162|173|154|160|
|Rhino and Giraffe|4|24|4|23|
|Other|23|20|20|36|
|309|776|317|793|
**----- End of picture text -----**
## **14 Fixed asset investments**
**----- Start of picture text -----**
||||
|---|---|---|
|Shares in|
|subsidiary|
|undertaking|Total|
|Charity|£|£|
|Cost / Market value at 1 January 2020 and 31 December 2020|2,694,236|2,694,236|
**----- End of picture text -----**
**----- Start of picture text -----**
||||
|---|---|---|
|Country of registration or|Proportion of voting rights and|
|Subsidiary undertaking|incorporation|ordinary share capital held|
|Howletts and Port Lympne Estates Limited|England and Wales|100%|
**----- End of picture text -----**
Howletts and Port Lympne Estates Limited operate the commercial activities of The Howletts Wild Animal Trust. The trading resuts of Howletts and Port Lympne Estates Limited for the year to 31 December 2020 are as follows:
**----- Start of picture text -----**
||||
|---|---|---|
|2020|2019|
|£|£|
|Turnover|8,180,910|10,823,250|
|Cost of sales|(5,483,633)|(5,849,578)|
|Administration costs|(2,359,852)|(3,084,978)|
|-|
|Other operating income|1,029,643|
|Operating surplus for the year|1,367,068|1,888,694|
|Interest payable|(131,783)|(198,510)|
|Retained surplus for the year|1,235,285|1,690,184|
|Retained earnings brought forward|2,960,930|1,270,746|
|-|
|Distribution under gift aid|(2,800,000)|
|Retained earnings carried forward|1,396,215|2,960,930|
**----- End of picture text -----**
- 28 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**14 Fixed asset investments (continued)**
The assets and liabilities of the subsidiary were:
Fixed assets
Current assets
Current liabilities
Non-current liabilities
Share capital
Reserves
**15 Stock**
Catering stock
Retail stock
**16 Debtors**
Trade debtors
Loan to group undertaking
Other debtors
Prepayments and accrued income|**2020**
**2019**
**£**
**£**
69,127
72,986
102,174
128,614
171,301
201,599
**2020**
**2019**
**£**
**£**
43,326
64,099
-
-
300,019
411,469
637,472
385,992
980,817
861,560
**Group**
**Group**|**2020**
**2019**
**£**
**£**
6,839,543
5,966,954
5,513,430
6,683,282
(5,683,737)
(3,650,222)
(2,578,785)
(3,344,848)
(2,694,236)
(2,694,236)
1,396,215
2,960,930
**2020**
**2019**
**£**
**£**
-
-
-
-
-
-
**2020**
**2019**
**£**
**£**
41,487
58,930
2,820,303
2,905,263
434,462
239,090
356,371
342,757
3,652,623
3,546,040
**Charity**
**Charity**|
|---|---|---|
A loan totalling £3,450,000 was provided to Howletts and Port Lympne Estates Limited, repayable from 28 February 2018 over 3 years. Interest is charged at a rate of 2.45% over LIBOR.
## **17 Creditors: amounts falling due within one year**
|Bank overdraft
Bank loans
Other loans
Net obligations under finance leases
Trade creditors
Amounts owed to group undertakings
Amounts owed to connected parties
Other taxation and social security
Other creditors
Accruals and deferred income|**2020**
**2019**
**£**
**£**
617,778
1,294,138
272,368
363,158
375,000
191,013
54,262
61,064
834,881
683,693
-
-
-
958,828
487,524
436,804
78,650
64,714
4,653,124
1,976,207
7,373,587
6,029,617
**Group**|**2020**
**2019**
**£**
**£**
617,778
1,294,138
272,368
363,158
375,000
191,013
21,546
29,670
606,866
411,508
4,465,388
5,983,890
-
323,327
85,625
73,217
50,240
13,528
187,206
130,031
6,682,017
8,813,480
**Charity**|
|---|---|---|
The bank overdraft is secured by way of a guarantee provided by C Filmer, J Aspinall and R Birley. It is due to mature 25/05/2021.
The bank loan is secured by way of a debenture comprising of a fixed and floating charge over the company and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery.
- 29 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **18 Creditors: amounts falling due after more than one year**
|Other loans
Bank loans
Payments received on account
Net obligations under finance leases|**2020**
**2019**
**2020**
**2019**
**£**
**£**
**£**
**£**
1,625,000
766,610
1,625,000
-
2,547,934
2,542,105
2,547,934
2,542,105
8,971
24,135
-
-
72,714
51,798
50,835
39,801
4,254,619
3,384,649
4,223,769
2,581,906
**Charity**
**Group**|
|---|---|
Obligations under bank loans, included above, are payable as follows:
|Due within 1 year
Due 2-5 years|**2020**
**2019**
**2020**
**2019**
**£**
**£**
**£**
**£**
272,368
363,158
272,368
363,158
2,547,934
2,542,105
2,547,934
2,542,105
2,820,302
2,905,263
2,820,302
2,905,263
**Group**
**Charity**|
|---|---|
A bank loan of £3.45m was repayable from 28 February 2018 over 3 years at an interest rate of 2.45% above LIBOR. The loan is secured by personal guarantee from C Filmer, R Birley and J Aspinall.
Other loans consist of an Aspinall Foundation loan of £2m loan taken out June 2020 and repayable from June 2021 over 5 years at an interest rate of 2.5% fixed rate, first year interest free. The loan is guaranteed from Howletts & Port Lympne Estates Limited and The Howletts Wild Animal Trust.
Obligations under finance leases and hire purchase contracts, included above, are payable as follows:
|**2020**
**2019**
**2020**
**2019**
**£**
**£**
**£**
**£**
Due within 1 year
54,262
61,064
21,546
29,670
Due 2-5 years
72,714
51,798
50,835
39,801
**Group**
**Charity**|
|---|
|126,976
112,862
72,381
69,471|
|**Designated funds**
**As at 1**
**January 2020**
**Income**
**Expenditure**
**Transfers**
**As at 31**
**December**
**2020**
**£**
**£**
**£**
**£**
**£**
Animal support fund
-
85,273
(85,273)
-
-
Fun run fund
771
-
(771)
-
-
Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases
include purchase options at the end of the lease period and no restrictions are placed on the use of the assets. The
average lease term is 2 years. All leases are on a fixed repayment basis and no arrangements have been entered into
for contingent rental payments.|
|771
85,273
(86,044)
-
-|
|**Designated funds - 2019**
**As at 1**
**January 2019**
**Income**
**Expenditure**
**Transfers**
**As at 31**
**December**
**2019**
**£**
**£**
**£**
**£**
**£**
Keepers fund
192,340
-
(8,145)
(184,195)
-
Fun run fund
229
700
(158)
-
771|
|192,569
700
(8,303)
(184,195)
771|
## **19 Designated funds**
Animal support fund
Amounts raised to assist in feeding the animals during the Covid-19 pandemic.
- 30 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **19 Designated funds (continued)**
The Keepers fund
Amounts set aside from income generated from talks by keepers with the intention of using it for keepers' training and development along with associated research costs.
Fun run fund
A fun run to raise money for the animal projects.
|**20 Restricted funds**
Scottish Wild Cats Fund
Howletts Education Centre
Lions and Bear Enclosure
**Restricted funds - 2019**
Portable Xray Fund
Scottish Wild Cats Fund
Howletts Education Centre
Locase Grant|**As at 1**
**January 2020**
**Income**
**£**
**£**
1,958
-
1,608
-
-
43,270
3,566
43,270
**As at 1**
**January 2019**
**Income**
**£**
**£**
3,973
-
1,958
-
1,608
-
-
10,000
7,539
10,000|**Expenditure**
**£**
-
-
(43,270)
(43,270)
**Expenditure**
**£**
(3,973)
-
-
(3,973)|**Transfers**
**£**
-
-
-
-
**Transfers**
**£**
-
-
-
(10,000)
(10,000)|**As at 31**
**December 2020**
**£**
1,958
1,608
-
3,566
**As at 31**
**December 2019**
**£**
-
1,958
1,608
-
3,566|
|---|---|---|---|---|
**Portable Xray Fund** - Amounts received to purchase portable X-ray equipment.
**Scottish Wild Cats Fund** - Amounts received to build new enclosures for Scottish Wild Cats. The Group have plans in place to use the fund to build a Scottish Wild Cat enclosure.
**Howletts Education Centre** - Amounts received to refurbish the Howletts Education Centre.
**Locase Grant** - Grant received from KCC for the purchase of a low emissions telehander and tractor. Purchased in the year and therefore transferred to unrestricted funds.
**Lions and Bears Enclosure** - Donations received for the building of a new enclosure to rehome a family of brown bears from Andorra and three lions who were rescued from a circus in France.
|**21 Analysis of net assets between funds**
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Analysis of net assets between funds - 2019**|**Restricted**
**funds**
**£**
-
3,566
-
-
3,566
**Restricted**
**funds**
**£**
-
3,566
-
-
3,566|**Unrestricted**
**funds**
**£**
8,290,428
1,613,581
(7,373,587)
(4,254,619)
(1,724,197)
**Unrestricted**
**funds**
**£**
7,340,254
1,240,000
(6,029,616)
(3,384,649)
(834,011)|**Total**
**2020**
**£**
8,290,428
1,617,147
(7,373,587)
(4,254,619)
(1,720,631)
**Total**
**2019**
**£**
7,340,254
1,243,566
(6,029,616)
(3,384,649)
(830,445)|
|---|---|---|---|
- 31 -
**THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **22 Commitments under operating leases**
Total future minimum lease payments under non-cancellable operating leases are as follows:
|Within one year
Between two and five years
**23**
The charity has had capital commitments at the year end as follows:
Leopard Creek
Bear and lion enclosures
**Capital Commitments**|**2020**
**£**
186,873
76,727
263,600
**2020**
**£**
-
99,750
99,750|**2019**
**£**
186,091
170,795
356,886
**2019**
**£**
277,350
-
277,350|
|---|---|---|
## **24 Reconciliation of net income to net cash flow from operating activities**
|Net (expenditure) for the year
Depreciation charges
(Profit)/Loss on sale of fixed assets
Amortisation charges
Increase in stocks
Increase in debtors
Increase in creditors
Net cash flow from operating activities
**25 Analysis of cash and cash equivalents**
Cash in hand
Overdraft facility repayable on demand
Total|**2020**
**£**
(890,186)
1,220,937
1
3,910
30,298
(119,257)
2,020,330
2,266,033
**2020**
**£**
465,029
(617,778)
(152,749)|**2019**
**£**
(46,325)
1,136,141
(21,527)
14,973
(54,255)
(198,449)
991,520
1,822,078
**2019**
**£**
180,407
(1,294,137)
(1,113,730)|
|---|---|---|
## **26 Related party transactions**
The Group has received loans from The Aspinall Foundation. Loans brought forward from the previous year (£1,285,493) were fully repaid during the year, attracting interest of £45,829 (2019: £95,088). A new loan from The Aspinall Foundation totalling £2m was received by the Charity during the year. The loan was repayable from June 2021 over 5 years at a fixed interest rate of 2.5% per annum, first year interest free.
Sales invoices, being recharges of costs incurred on their behalf, amounting to £48,920 were raised to The Aspinall Foundation and purchase invoices amounting to £2,008 were raised by The Aspinall Foundation to the group. The Group also has a short-term loan account with The Aspinall Foundation. At the year end, the group was owed £128,873 (2019: £439,945 creditor) by The Aspinall Foundation.
The Group rents freehold land and buildings from The Aspinall Foundation for an annual rent of £1 (2019: £1).
During the year, the group paid a pension to Lady S Aspinall, the mother of A Courage and step-mother of J D A Aspinall totalling £28,709 (2019: £29,513).
During the year, sales invoices, being recharges of costs incurred on his behalf, amounting to £9,737 were raised to J D A Aspinall. At the year end, the group was owed £26,257 by J D A Aspinall. This has been repaid post year end.
- 32 -
## **THE HOWLETTS WILD ANIMAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **26 Related party transactions (continued)**
During the year purchase invoices amounting to £481,914 (2019: £468,637) were raised by Walmestone Growers Limited, a company in which J D A Aspinall and A B Kelly were Directors during the year. At the year end the group owed £40,236 (2019: £37,258) to Walmestone Growers Limited.
## **27 Company limited by guarantee**
The company is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
## **28 Controlling party**
The charity is a company limited by guarantee and was controlled throughout the year by the Trustees.
- 33 -