**CONSOLIDATED STATEMENT OF CASH FLOWS**
**----- Start of picture text -----**
CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Registered Charity No: 1100845
Registered Company No: 04711904 (England and Wales)
**----- End of picture text -----**
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
1
**CONSOLIDATED STATEMENT OF CASH FLOWS**
## CONTENTS
1
LEGAL AND ADMINISTRATIVE DETAILS
2-17
THE TRUSTEES’ REPORT
18-21
## INDEPENDENT AUDITORS’ REPORT
22-23
STATEMENT OF FINANCIAL ACTIVITIES
24
CONSOLIDATED BALANCE SHEET
25
CHARITY BALANCE SHEET
26
CONSOLIDATED CASH FLOW STATEMENT
27-45
NOTES TO THE FINANCIAL STATEMENTS
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**LEGAL AND ADMINISTRATIVE DETAILS**
## LEGAL AND ADMINISTRATIVE DETAILS
|**Charity registration number**|1100845|||
|---|---|---|---|
|**Company registration number**|04711904|||
|**Trustees**|J D A Aspinall (Chairman)|||
||T Aspinall|||
||G J Farley|||
||D W Hulme (appointed|2 February 2022)||
||H F Blackman (appointed 21 February 2022)|||
|**Company Secretary**|C Morrissey|||
|**Key Management Personnel**|J D A Aspinall|L Edney|A B Kelly|
||R Amlot|G J Farley|S Lintern|
||F Aresti (resigned)|M Ford|M Long|
||J Ash|C Gilbody|T McKenzie|
||T Aspinall|S Harrington|C Morrissey|
||S Bailey|J Hopper|J Riggs|
||H F Blackman|L Horton|S Russ|
||J Buckingham-Dudley|D W Hulme|D Sutton|
||M Davidson|S Jeffrey|K Wild|
|**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|Russell Cooke|Loyens & Loeff|
||Stourside Place|8 Bedford Row|15 Austin Friars|
||Station Road|London|London|
||Ashford|WC1R 4BX|EC2N 2HE|
||Kent|||
||TN23 1PP|||
1
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**CONSOLIDATED STATEMENT OF CASH FLOWS**
## THE TRUSTEES’ REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
## **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, near 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.
For details of our individual parks and breeding programmes, please visit: **www.howletts.com** or **www.portlympne.com**
2
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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.
- To create memorable experiences that matter.
## **OUR YEAR HIGHLIGHTS AT A GLANCE**
**OVER 1,200 104 SPECIES ANIMALS OF ANIMALS**
**OVER 140 BIRTHS OVER 300,000 THIS YEAR VISITORS**
## **HOWLETTS BIRTHS (2022)**
**----- Start of picture text -----**
Species Number of births
Western Lowland
1
Gorilla
Dusky Langur 2
De Brazza’s Monkey 1
Gelada Baboon 1
Siamang Gibbon 1
White-Naped
2
Mangabey
**----- End of picture text -----**
## **PORT LYMPNE BIRTHS (2022)**
**----- Start of picture text -----**
Species Number of births
Przewalski’s Wild
1
Horse
Bolivian Squirrel
3
Monkey
De Brazza’s monkey 1
African Hunting Dog 13
Javan Gibbon 1
Brown Bear 1
Hog deer, Spotted
100
Deer, Red Lechwe
Sambar 6
White-Belted Ruffed
3
Lemur
Capybara 4
**----- End of picture text -----**
3
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **CHAIRMAN’S REPORT**
I am delighted to be able to report that the Trust traded profitably throughout 2022 and for the fourth year running posted a trading profit. This builds on the positive reserves first posted in 2021 and places the Trust in a strong position to meet the challenges ahead.
Whilst we approached 2022 on the back of the tail wind of the pandemic it proved to be a challenging year for a variety of other reasons. Most notably of course was the onset of war in Ukraine and the impact that has had on energy prices and the supply chain. As this crisis unfolded the rate of inflation and interest rates then began to soar, just as VAT normalised, all of which impacted us heavily with increasing costs and lower consumer confidence and buying power.
More locally, the region around our two Parks in Kent were subjected to traffic problems on the motorway network with Operation Brock and Operation Stack impacting core trading periods. Coupled with an exceptionally dry and hot summer, which is always less conducive to day visitors, the cost-of-living crisis and the ability for customers to freely travel abroad for the first time in a number of years, this all added up to a challenging trading environment.
We are enormously proud of our breeding record at THWAT, and the quality of life that we give to the animals in our care. During the year we were able to continue with our breeding programs at the Parks and 2022 saw over 140 births across 17 species.
In addition, our education programs are specifically designed to ensure that future generations continue to care passionately about animals and their environment, and appreciate nature’s ecosystem, and the benefits that animals bring to mankind.
The pandemic created many challenges, not least the translocation of animals overseas. As with 2021, 2022 was limited in the number of animals that could be sent back to the wild in partnership with The Aspinall Foundation (“TAF” or “the Foundation”), as governments faced a multitude of priorities and borders were slow to reopen to movements of animals for conservation purposes.
However, we continue to prepare animals for rewilding and in 2022 we continued with the preparation of the relocation of our herd of 13 African elephants. This will be a record-breaking
rewilding and will be a landmark in worldwide conservation. It is a long complex process, but we are committed to making it work.
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 Foundation’s work can be found on:
## **www.aspinallfoundation.org**
At the time of writing, 2023 is meeting with our expectations. It is challenging as costs, most notably wages, energy, food, beverage, and animal feeds continue to be impacted by the rise in the national minimum wage and rising inflation. In addition, the macro-economic climate is hardening the appetite for our product as the cost of living reduces people’s disposable income.
I am, however, confident in our product and that we will navigate these challenges and continue to trade profitably through this period and meet our charitable objectives.
I would like to extend my thanks to all those involved in the work of the Trust. Without their drive and determination we would not be able to achieve what we do, either on the care and welfare of our animals or the first-class service and experiences that we offer at our two Parks.
Signed J D A Aspinall Chairman
**----- Start of picture text -----**
INTRODUCTION
The Trustees of the Howletts Wild Animal Trust
**----- End of picture text -----**
4
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 2022 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
5
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **GROUP OBJECTIVES FOR THE YEAR**
The objectives for the Group in 2022 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 enclosures and Parks;
- enhancing the customer experience through improved service levels and facilities;
- continuing to fulfil our charitable objectives.
Whilst the challenges of managing through a pandemic are now behind us they have been replaced with a new set of challenges. These include rising energy costs, significant increases in wages through a 10% rise in the minimum wage bill, rising inflation and rising interest costs. These all impact on consumer confidence and make it challenging to meet our commercial targets.
Our strategy however remains the same. We are continuing to invest in the customer experience at both of our Parks. At Port Lympne this has included the building and successful opening of our Orangery and Wedding Pergola in mid2022. A beautiful space for weddings and events
which is proving exceptionally popular. We have also invested in the refurbishment of many of our accommodation facilities and the customer facing areas of the Parks.
We continue to look to build out our long-term strategic plans for Port Lympne with additional luxury and family accommodation, and when funds allow we will commence the Giraffe Hall development. Further planning applications are being prepared in order to meet this objective. It is this strategy that has enabled the Parks to go from loss or break even to substantially profitable businesses over the past 10 years and we continue to be committed to it.
Our success feeds our ability to care and look after the animals based at our Parks and where possible work with other charities and NGO’s to return them to the wild. This will continue to be our focus and the Trust’s main charitable objective.
We also aim to educate those who choose to visit us, either on school visits, day visitors to the Parks or as overnight or event guests at Port Lympne. We consider our work to be groundbreaking and that we are leaders in the industry for how we house and care for the animals at our Parks. It is important that we use these opportunities to share this information with our guests and try to help them understand our approach to the work that we do. We do this through informative signage, in room messaging, display messages, interactions with Rangers and Safari drivers and regular talks and experiences.
6
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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.
Our rewilding plans have been delayed by Brexit but are now moving forward. THWAT has donated animals to The Aspinall Foundation’s rewilding projects during 2022 and continues to do so during 2023. During 2022, and so far in 2023, these donations include a gorilla to the Congo and a honey badger to South Africa. In the latter part of 2023, we intend to continue to donate animals to these vital projects including Javan gibbons and Javan langurs to Indonesia, black rhinos to Africa, and elephants to Kenya. We are always available to assist animals around the globe and continue to look for new opportunities to rewild species from our collection and to get new species in for rewilding opportunities.
We have the largest collection of critically endangered Western lowland gorillas and one of the largest collections of Eastern black rhinoceros in the world. Following successful expansion of our collection in 2022, Port Lympne is now home to 3 species of rhino, making us the only collection in Europe with Eastern black rhino, Southern white rhino and greater one horned rhino. Our Parks have maintained a significant number of captive births over many years.
Overall captive breeding successes of note include Western lowland gorillas, Javan gibbons, African lions, belted ruffed lemurs and white-naped mangabeys. We are the world’s most successful breeders of Javan gibbons, and we are the largest breeders of clouded leopards.
The African elephant herd at Howletts remains the largest in Britain and has had more African elephant births than all other British zoos combined. We were the first site to keep barbary lions (extinct in the wild) and we are the most successful UK collection breeding De Brazza and drill monkeys. Howletts is also the only collection to have housed grizzled leaf monkeys outside of their native range.
Howletts and Port Lympne continue to manage the European captive breeding programmes (studbooks) for clouded leopards, African painted dogs, Javan gibbon, bush dogs and sambar deer, and are representatives on various committees such as roan antelope, lions, fossa, DeBrazza monkey and Canid and Deer Tags. We also have representatives on the conservation translocation working group within Europe.
7
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **OUR BREEDING PROGRAMME**
Our breeding programmes here at the Parks are concentrating on species for rewilding and reintroduction. With dwarf forest buffalo and dwarf mongoose being bred at our Parks for the first time this year, both species with future plans for rewilding.
We have had our 150th gorilla born here at the Parks. showing our expertise in breeding, keeping and rewilding of this species. With the birth of Przewalski horses again we hope to be continuing our success in sending these back to the wild when they are ready and continuing the success of this project which brought this species back from extinction in the wild.
As The Aspinall Foundation has set up a new Siamang Centre in Sumatra we are now breeding siamang again at our Parks in the hope that we can rewild these in the near future. Our continued success in breeding DeBrazza monkeys will also see this enigmatic species returned to the wild, with a new project being set up at The Aspinall Foundation’s Congo Gorilla Project.
We have also continued to breed our Javan gibbons with more gibbons due to go back to the wild in Java in the coming year.
Our continued success in breeding African painted dogs has also led to rewilding projects which we hope to get going soon. This species has been disappearing from areas in Africa quite rapidly and we hope to lead the way in sending them back to the wild.
We have also had breeding success with sambar deer, squirrel monkeys, belted ruffed lemurs, Bolivian squirrel monkey, hog deer and white-naped mangabey.
## **THWAT & TRADING SUBSIDIARY (‘HPLE’) OPERATIONS**
Given the challenging trading environment described previously, our trading performance saw a significant decrease in day visitors but a substantial increase in short break overnight stays.
The drop in day visitors mirrored that which we saw across the whole of Kent and many other UK zoos. Howletts total visitation was 14% down on 2021 whilst Port Lympne maintained very similar levels to 2021. These figures compare favourably with other outdoor attractions in Kent who reported a decline of up to 30%.
Our short breaks business did help us to mitigate this and in 2022 we posted a total occupancy rate of 80.7% with an average room rate of £447.43. Comparisons to previous years are unhelpful as the rate of VAT materially impacted 2021’s performance, but only marginally impacted 2022.
We were fortunate to have hedged our electricity costs in 2021 for a two-year period so we did not suffer an increase in energy bills in 2021. This hedge runs out in Sept 2023. However, electricity only accounts for c50% of the fuels we use so we were heavily impacted by increases in natural gas, oil and diesel.
The development of the Orangery and Pergola in 2021 was our major capital investment in 2022 and this is proving to be a successful addition to our offering. We also managed to complete the refurbishment of the front row Bear Lodge tents, to all year round venues, and complete a number of infrastructure and health and safety projects.
8
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 from this lucrative market all year round. In 2022 we added an Orangery and Pergola to enhance our wedding and events business.
In the immediate future we plan to complete the refurbishment of the back row Bear Lodge tents, convert our 13 Pinewood Pods into full ensuite facilities, introduce a Bridal Suite in the Mansion Hotel, build an additional bubble and work on the development of two mobile ‘Explorers’ and a range of accommodation around the lion and bear enclosures.
Works are also being planned to enhance our gatehouse offerings at both Parks, introduce an education centre at Howletts and continue to invest in the Parks, animals and enclosures infrastructure, roadways and car parks. In 2023 we will also commence with the renewal of our fleet with more energy efficient vehicles and the replacement of our petrol buggies with electric options.
## **UK GOVERNMENT AND LOCAL COUNCIL COVID-19 RELATED SUPPORT**
No further support was received through the Covid Job Retention Scheme. THWAT would however like to extend our thanks to Folkestone & Hythe District Council for their ongoing support including a final instalment of grant funding received in early 2022.
Our cashflow was also positively impacted by being able to defer PAYE/NI payments and spread future payments over the 2022 year and defer quarterly VAT payments, with the amounts due being deferred throughout 2022. We continue to benefit from this support and make payments when they fall due.
## **GOING CONCERN**
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 Trustees consider that the Charity and group are well placed to manage the risks within its control and mitigate those outside its control. After the review of forecasts and predictions for the period to 31 December 2024, 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.
9
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FINANCIAL REVIEW**
Total income for the year amounted to £22.8M (2021: £22.4M). Expenditure amounted to £22.5M (2021: £20.5M). The above movements resulted in net income for the year of £370k (2021: £1,862k). The Howletts Wild Animal Trust delivered a consolidated fund surplus of £507k (2021: £137k) on the unrestricted fund. There was no restricted income or expenditure (2021: surplus of £4k) on the restricted funds. The Howletts Wild Animal Trust aims to continue to maintain and build a surplus in order to support the operating reserve. The Trustees reported a net increase in restricted, unrestricted and non-charitable funds of £370k (2021: £1,862k). The consolidated balance sheet at 31 December 2022 shows a net current asset position of £511k (2021: £141k).
## **RESERVES POLICY**
The Charity considers a broad range of factors in its reserves policy that will enable the Charity to manage financial risk and short-term income volatility. A sustainable level of reserves are needed to allow the Charity to maintain 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. The Howletts Wild Animal Trust has two reserves funds, Restricted and Unrestricted.
The trustees’ target is to achieve and maintain unrestricted reserves to cover six months of animal care costs and associated ground maintenance and security costs, which is in line with the Charities Commission recommendations. This equates to approximately to £2.5m based on budgeted running costs for the next twelve months. At the year end, the Charity had unrestricted reserves of £507k (2021: £137k). It remains our intention to continue to build free reserves towards this target over the coming years.
Establishing a six-month operating reserve will support the Charity in trading through potential adversity and take account of future commitments. The calculation of the required level of reserves is an integral part of the Charity’s planning, budgeting and forecasting. The level of reserves will be monitored and reviewed by the trustees on an annual basis.
## **LIQUIDITY AND GENERAL RESERVES**
Given the challenging external market conditions THWAT took a balanced approach to maintaining its cash and general reserves. The Trust continued to benefit from a rolling overdraft facility throughout the year. The bank loan was refinanced in 2022 and the bank overdraft arrangement has also been renewed.
## **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.
10
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 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.
The key risks identified by the Trustees are outlined in the tables below and on the following pages:
**----- Start of picture text -----**
Risk: Financial Mitigation actions to be taken Score Probability Impact
Material loss of
income adversely Revenue strategy implemented outlining
affects ability to diversification of income sources, exit 12 3 4
maintain existing strategies in place, keeping costs down.
services
Significant Little mitigation possible. Maintain
increase in relationships for non-occurrence / early 9 3 3
operating costs warning.
Fraud or
Good financial controls in place,
misappropriation 2 2 1
insurances in place including cyber cover.
of funds
Risk: Animals Mitigation actions to be taken Score Probability Impact
Veterinary Team monitoring, ongoing
Notifiable Disease 8 2 4
training for vets.
Veterinary team monitoring, ongoing
Disease Outbreak
training for vets, following government 8 2 4
(non notifiable)
guidelines, hand wash stations.
**----- End of picture text -----**
11
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
Risk: People Mitigation actions to be taken Score Probability Impact
Shared responsibilities across roles,
Loss of key
developing internal resilience through
member(s) of
shadowing and delegation. Managers
staff affecting 6 2 3
are required to keep JD’s up to date to
ability to deliver
enable rapid recruitment to proceed as a
existing services
consequence of staff turnover.
Up to date Health & Safety Procedures
in place; outreach safety mechanisms
Member of staff in place i.e. Suitable risk assessments
injured undertaken. Staff induction and training 9 3 3
or attacked provided by skilled inhouse trainer or
outsourced where specialists’ skills and
certification is required.
Animal Escape Contingency plan in place,
routinely exercised and accredited by local
EHO. Audits conducted as required by
regulation such as fire, fire extinguisher
maintenance, legionella, asbestos, and
Member of electrical systems. Staff and guests are
public injured or required to watch a golf buggy safety 12 4 3
attacked video before being permitted to drive.
Routine fire prevention activity including
alarm testing carried out as prescribed by
legislation and guidance and recorded in
fire books. Adverse weather contingency
plan in place.
Clear understanding of skills and
competencies; clearly set out requirements
Staffing approach when recruiting; good training in place;
ineffective for excellent communications re. daily briefings 6 2 3
service delivery to provide regular up to date guidance on
approach. 360 degree feedback process
in place.
Training should be in place at an appropriate
level for all staff on what their responsibility
is to safeguarding and what to do if they
see something they are concerned about.
Safeguarding issue
Training has started at trustee and SMT level
with customer 6 2 3
and should continue to be implemented
or staff
throughout the organisation. Staff handbook
has a new policy included on safeguarding.
Local authority work permits in place for
under 16s.
**----- End of picture text -----**
12
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
Risk: Infrastructure Mitigation actions to be taken Score Probability Impact
Office-based
ICT or premises
inaccessible/
Business Continuity Plan and cyber
materially 6 2 3
security insurance in place.
compromised,
or subject to
cyber attack
Physical damage
Appropriate insurances in place. 6 2 3
to property
Environmental
and infrastructure Monitoring and improvement plans 6 2 3
damage
**----- End of picture text -----**
**----- Start of picture text -----**
Risk: Reputation Mitigation actions to be taken Score Probability Impact
Failure to comply
Data Protection Policy in Place; annual
with legislation/
GDPR training, regular briefings regarding
regulations 9 3 3
confidentiality of data, compliance with
including Charity
regulatory reviews
Commission
Service perceived
Annual review of animals requirements to
as failing to meet
better understand need; increased profile
existing/evolving 4 2 2
raising with stakeholders, supporters
animal and/or
regarding how we meet relevant needs.
trust needs
Quality of animal
care and capability Established system of Quality Assurance,
4 1 4
of Parks called into Ongoing training.
question
Review and action on Guestjoy responses,
monitor and respond to Tripadvisor reviews
and social media engagement. Investment
Visitor enjoyment
in future infrastructure, guest engagement 8 2 4
and experience
projects. Mitigate against not seeing the
animals with a range of keeper and ranger
talks and engagement.
**----- End of picture text -----**
13
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FUNDRAISING**
The key sources for income for 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 and associated services business. 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. We do not work with professional fundraisers. 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.
## **WORKING WITH KEY PARTNERS**
THWAT works closely with two connected organisations, The Aspinall Foundation (TAF) and Walmestone Growers Ltd (Walmestone). TAF and THWAT have two trustees in common, Damian Aspinall and Tansy Aspinall.
THWAT’s charitable objectives are closely aligned with TAF’s and the charities work alongside each other in a number of ways to achieve our shared aims. For example, THWAT’s breeding programmes support TAF’s overseas conservation projects, and expert animal employees of both charities share knowledge and information. Shared resources such as HR & administrative functions, office space and IT infrastructure help to minimise costs.
Walmestone Growers Ltd immediate parent undertaking is Aspers Group Ltd, a company in which Damian Aspinall was a director during the year.
supplying produce to local businesses and restaurants including restaurants located at Port Lympne. However, they also grow produce by type and volume specifically to meet the dietary needs of our animals. Damian Aspinall and Anthony Kelly were directors of Walmestone Growers Ltd for part of the previous year, until resigning on 19th May 2021.
## **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**
THWAT engages with its supporters through dayto-day visits to the Parks and guests staying over in its accommodation offering at Port Lympne. On that basis over 300,000 people had the opportunity to directly experience the work that THWAT does, and we benefited from in excess of 4.1 million interactions with our guests last year through email, social media and on our website. As THWAT does not raise charitable funds directly, we do not have regular donors with which to engage, and there were no complaints or shortcomings identified that are required to be dealt with. We regularly undertake guest surveys to get direct feedback from our guests. Where shortcomings were identified, we expanded our guidance and training for staff and put new processes in place, both to prevent recurrence of the issues and to improve our guests’ experience. Complaints and guest feedback are an important source of information about the impact that our work has on our guests 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 of our complaints process, on our website.
Walmestone Growers Ltd are a local farm located nearby to Howletts and Port Lympne, who ensure supply of quality fruits and vegetables essential to many of our species’ diets. Our animals’ diet and nutrition is closely monitored, with the consistency and quality of supply vital in animal health and welfare. Walmestone operates commercially,
14
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
15
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 G Farley D W Hulme (appointed 2 February 2022) H F Blackman (appointed 21 February 2022)
## **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**
As at the date of signing these accounts, there are five Trustees (three of whom are independent) and they have trustee responsibility for meeting our charitable obligations.
The Trustees take trustee recruitment very seriously and invest time and resource in finding, inducting and developing the highest calibre people.
## **TRUSTEES’ TRAINING**
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.
## **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 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
16
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**THE TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
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: 22 September 2023
17
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**INDEPENDENT AUDITORS REPORT TO THE TRUSTEES**
INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE HOWLETTS WILD ANIMAL TRUST FOR THE YEAR ENDED 31 DECEMBER 2022
18
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**INDEPENDENT AUDITORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **OPINION**
We have audited the financial statements of The Howletts Wild Animal Trust (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 December 2022 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charitable Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including significant accounting policies. 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 and Republic of Ireland (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 2022, 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 group and 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 group’s or 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.
## **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.
19
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**INDEPENDENT AUDITORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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.
## **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 16, 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 CAPABLE OF DETECTING IRREGULARITIES, INCLUDING FRAUD**
Irregularities, including fraud, are instances of noncompliance 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
20
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**INDEPENDENT AUDITORS’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022**
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 noncompliance 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;
- 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: 27 September 2023**
5th Floor
Ashford Commercial Quarter
1 Dover Place Ashford Kent TN23 1FB
21
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
## CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
**----- Start of picture text -----**
Unrestricted Restricted 2022 2021
Note funds funds Total funds Total funds
£000 £000 £000 £000
Income from:
Donations and grants 2 13 - 13 70
Charitable activities 3 9,124 - 9,124 9,607
Other trading activities 4 13,534 - 13,534 12,379
Other income 5 207 - 207 352
Total income 22,878 - 22,878 22,408
Expenditure on:
Raising funds 10,523 - 10,523 9,065
Charitable activities 11,985 - 11,985 11,481
Total expenditure 6 22,508 - 22,508 20,546
Net movement in funds 370 - 370 1,862
Reconciliation of funds:
Total funds brought forward 137 4 141 (1,721)
Total funds carried forward 507 4 511 141
**----- End of picture text -----**
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.
22
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
## CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
**----- Start of picture text -----**
COMPARATIVE
Unrestricted Restricted 2021
INFORMATION ONLY
Note funds funds Total funds
£000 £000 £000
Income from:
Donations and grants 2 34 36 70
Charitable activities 3 9,607 - 9,607
Other trading activities 4 12,379 - 12,379
Other income 5 352 - 352
Total income 22,372 36 22,408
Expenditure on:
Raising funds 9,065 - 9,065
Charitable activities 11,445 36 11,481
Total expenditure 6 20,510 36 20,546
Net movement in funds 1,862 - 1,862
Reconciliation of funds:
Total funds brought forward (1,725) 4 (1,721)
Total funds carried forward 137 4 141
**----- End of picture text -----**
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.
23
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
## CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2022
**----- Start of picture text -----**
2022 2021
Note £000 £000 £000 £000
Fixed assets
Intangible assets 11 42 31
Tangible assets 12 11,142 9,818
11,184 9,849
Current assets
Stock 15 194 140
Debtors 16 914 1,053
Cash at bank and in hand 178 713
1,286 1,907
Creditors: amounts falling due within one year 17 (8,896) (10,319)
Net current liabilities (7,610) (8,412)
Total assets less current liabilities 3,574 1,437
Creditors: amounts falling due after more than one year 18 (3,063) (1,296)
Net assets 511 141
Charity funds
Restricted funds 19 4 4
Unrestricted funds
General funds (2,498) (1,813)
General non-Charity funds 14 3,005 1,950
Total funds 20 511 141
**----- End of picture text -----**
The financial statements were approved and authorised for issue by the Board on 22 September 2023
The notes on pages 27-45 form part of these financial statements.
**Company Number: 04711904**
Signed on behalf of the Board of Trustees
J D A Aspinall Chairman
24
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
AS AT 31 DECEMBER 2022
## CHARITY BALANCE SHEET
**----- Start of picture text -----**
2022 2021
Note £000 £000 £000 £000
Fixed assets
Tangible assets 12 1,758 1,805
Investments 14 2,694 2,694
4,452 4,499
Current assets
Stock 15 39 13
Debtors 16 3,437 3,698
Cash at bank and in hand - -
3,476 3,711
Creditors: amounts falling due within one year 17 (7,275) (8,565)
Net current liabilities (3,799) (4,854)
Total assets less current liabilities 653 (355)
Creditors: amounts falling due after more than one year 18 (2,981) (1,287)
Net liabilities (2,328) (1,642)
Charity funds
Restricted funds 19 4 4
Unrestricted funds
General funds (2,332) (1,646)
Total funds (2,328) (1,642)
**----- End of picture text -----**
The financial statements were approved and authorised for issue by the Board on 22 September 2023
The notes on pages 27-45 form part of these financial statements.
**Company Number: 04711904**
Signed on behalf of the Board of Trustees
J D A Aspinall Chairman
25
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
## CONSOLIDATED CASH FLOW STATEMENT
AS AT 31 DECEMBER 2022
**----- Start of picture text -----**
Group
2022 2021
Note
£000 £000
Cash flow from operating activities
Net cash (used in)/provided by operating activities 23 2,017 4,130
Cash flow from investing activities
Purchase of intangible assets (58) (46)
Purchase of property, plant and equipment (2,999) (2,897)
Sale of property, plant and equipment 38 13
Net cash flow from investing activities (3,019) (2,930)
Cash flow from financing activities
Cash flows from borrowing 1,804 (2,911)
Net cash flow from financing activities 1,804 (2,911)
Change in cash and cash equivalents in the year 802 (1,711)
Cash and cash equivalents at 1 January 2022 (1,863) (152)
Cash and cash equivalents at 31 December 2022 (1,061) (1,863)
**----- End of picture text -----**
26
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
## **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 Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
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.
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.
## **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 2022. As a consolidated Statement of Financial Activities is published, a separate Statement of Financial Activities for
27
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 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 by the stated expiry date 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 Charity 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.
28
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
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:
Purchased computer software - 3 years straight line Website development costs - 3 years straight line
- Plant and machinery - 25% reducing balance Motor vehicles - 25% reducing balance Property improvements - 3.33 - 20% straight line Fixed assets under - not depreciated construction until in use
## **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.
## **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**
## **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.
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.
29
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1 ACCOUNTING POLICIES (CONTINUED)**
## **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.
## **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.
_Useful economic lives of tangible asset_
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.
The group has recognised tangible fixed assets with a carrying value of £11,142k 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.
30
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1.20 Going concern**
The trustees are of the opinion that The Howletts Wild Animal Trust is a Going Concern as at 31 December 2022 and remains a Going Concern as at the approval of these financial statements.
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.
**----- Start of picture text -----**
2022 2021
2 DONATIONS AND GRANTS
£000 £000
Donations other 13 70
13 70
**----- End of picture text -----**
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.
**----- Start of picture text -----**
2022 2021
3 INCOME FROM CHARITABLE ACTIVITIES
£000 £000
Gate income from Animal Parks 5,114 5,503
Memberships 433 480
Other primary purpose trading 3,577 3,624
9,124 9,607
**----- End of picture text -----**
**----- Start of picture text -----**
2022 2021
4 INCOME FROM OTHER TRADING ACTIVITIES
£000 £000
Trading income 13,534 11,733
Other income - 646
13,534 12,379
**----- End of picture text -----**
**5**
**----- Start of picture text -----**
2022 2021
OTHER INCOME
£000 £000
Sundry income 207 13
Job Retention Scheme - 257
Local council grants - 82
207 352
**----- End of picture text -----**
31
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
Staff Direct Support 2022 2021
EXPENDITURE Costs Costs Costs Total Total
£000 £000 £000 £000 £000
Raising funds
Commercial activities 5,527 4,980 16 10,523 9,065
Charitable activities
Operation of Parks 4,772 2,257 2,793 9,822 9,198
Other primary purpose trading 1,221 942 - 2,163 2,283
11,520 8,179 2,809 22,508 20,546
**----- End of picture text -----**
**6**
**----- Start of picture text -----**
2022 2021
SUPPORT COSTS
£000 £000
Freight and carriage 51 33
Sundry 5 -
Staff training 11 36
Motor running costs 15 6
Rent, rates and water 349 275
Light and heat 742 587
Printing, postage and stationery 17 42
Telephone 16 13
Computer costs 112 105
Subscriptions 17 15
Cleaning 39 53
Staff recruitment costs 26 29
Bank charges and interest 190 139
Insurance 180 173
Advertising and marketing 27 62
Equipment hire 83 108
Bad debt Written off 44 -
Depreciation and profit on
389 450
disposal
Dinosaur rental 90 104
Governance:
Audit and accountancy fees 28 23
Legal and professional 378 254
2,809 2,507
**----- End of picture text -----**
**7**
32
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
2022 2021
NET INCOME FOR THE YEAR
£000 £000
This is stated after charging:
Depreciation 1,638 1,279
Amortisation 23 15
Auditors remuneration
- audit 25 20
- other services 3 3
Directors remuneration 370 215
Operating lease rentals 90 104
**----- End of picture text -----**
**8**
**----- Start of picture text -----**
2022 2021
STAFF COSTS
£000 £000
Wages and salaries 10,517 9,987
Social security costs 764 652
Other pension costs 239 264
11,520 10,903
**----- End of picture text -----**
**9**
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 £239k (2021: £264k).
The average number of employees by headcount during the year was 525 (2021: 490).
The average number of employees by full time equivalent during the year was as follows:
**----- Start of picture text -----**
2022 2021
No. No.
Animal departments 89 88
Estates 59 56
Rangers and Safaris 25 23
Retail, Catering & Short breaks 178 154
Administration 33 36
384 357
**----- End of picture text -----**
33
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
The number of employees employed by the group whose remuneration for the year fell within the following bands were:
**----- Start of picture text -----**
2022 2021
No. No.
£60,000 to £69,999 4 6
£70,000 to £79,999 1 1
£80,000 to £89,999 - 2
£130,000 to £139,999 2 -
£140,000 to £149,999 - 1
£300,000 to £309,999 1 -
£360,000 to £369,999 - 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 £1,788k (2021: £1,604k).
## **10 TRUSTEE REMUNERATION**
The Trustees were not paid remuneration for their roles as Trustees or reimbursed expenses during the year (2021: None).
34
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
11 INTANGIBLE FIXED ASSETS
Website Software Total
Group Trade mark
development
cost
£000 £000 £000 £000
Cost
As at 1 January 2022 - 44 73 117
Additions 1 57 - 58
Disposals - - (36) (36)
As at 31 December 2022 1 101 37 139
Amortisation
As at 1 January 2022 - 44 42 86
Charge - 19 4 23
Elimination on disposals - - (12) (12)
As at 31 December 2022 - 63 34 97
Net book value
As at 31 December 2022 1 38 3 42
As at 31 December 2021 - - 31 31
**----- End of picture text -----**
35
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
12 TANGIBLE FIXED ASSETS
Assets
Plant and Motor Property
under Total
Group machinery vehicles Improvements
construction
£000 £000 £000 £000 £000
Cost
As at 1 January 2022 2,563 816 18,629 1,020 23,029
Additions 253 182 535 2,029 2,999
Disposals (2) (1,578) - (1,580)
Transfers - - 1,885 (1,885) -
As at 31 December 2022 2,814 998 19,471 1,164 24,448
Depreciation
As at 1 January 2022 1,900 645 10,666 - 13,211
Charge 285 81 1,272 - 1,638
Elimination on disposals (1) (2) (1,540) - (1,543)
Transfers - - - - -
As at 31 December 2022 2,184 724 10,398 - 13,453
Net book value
As at 31 December 2022 630 274 9,074 1,164 11,142
As at 31 December 2021 663 171 7,963 1,020 9,818
**----- End of picture text -----**
The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
**----- Start of picture text -----**
2022 2021
£000 £000
Plant and machinery 38 21
Motor Vehicles 38 50
Total 76 71
**----- End of picture text -----**
36
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
Assets
Plant and Motor Property
under Total
Charity machinery vehicles Improvements
construction
£000 £000 £000 £000 £000
Cost
As at 1 January 2022 1,818 543 6,654 - 9,014
Additions 25 48 269 - 342
Disposals - - (63) - (63)
Transfers - - - - -
As at 31 December 2022 1,842 591 6,859 - 9,293
Depreciation
As at 1 January 2022 1,570 403 5,236 - 7,209
Charge 69 47 275 - 391
Elimination on disposals - (2) (63) - (65)
As at 31 December 2022 1,639 448 5,448 - 7,535
Net book value
As at 31 December 2022 203 143 1,411 - 1,758
As at 31 December 2021 247 140 1,417 - 1,805
**----- End of picture text -----**
The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
**----- Start of picture text -----**
2022 2021
£000 £000
Plant and machinery 38 -
Motor Vehicles 38 50
Total 76 50
**----- End of picture text -----**
37
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **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 1.9, they are not included on the Group’s balance sheet. At 31 December 2022, the following animals were located at the Group’s two wild animal Parks:-
**----- Start of picture text -----**
2022 2022 2021 2021
Howletts Port Lympne Howletts Port Lympne
No. No. No. No.
Carnivores 51 85 51 93
Elephants 14 - 14 -
Gorillas 24 18 26 20
Hoofstock 45 561 40 531
Primates 156 160 159 161
Rhino and Giraffe 3 24 2 24
Other 22 137 22 119
315 985 314 948
**----- End of picture text -----**
**14**
**----- Start of picture text -----**
Shares in
FIXED ASSET INVESTMENTS subsidiary Total
undertaking
Charity £000 £000
Cost / Market value at 1 January 2022 and 31 December 2022 2,694 2,694
**----- End of picture text -----**
**----- Start of picture text -----**
Proportion of voting
Country of registration
Subsidiary undertaking rights and ordinary
or incorporation
share capital held
Howletts and Port Lympne Estates Limited England and Wales 100%
**----- End of picture text -----**
38
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
Howletts and Port Lympne Estates Limited operate the commercial activities of The Howletts Wild Animal Trust. The trading results of Howletts and Port Lympne Estates Limited for the year to 31 December 2022 are as follows:
**----- Start of picture text -----**
2022 2021
£000 £000
Turnover 17,111 15,357
Cost of sales (8,592) (7,798)
Administration costs (4,074) (3,508)
Other operating income - 645
Operating surplus for the year 4,445 4,696
Interest payable (85) (42)
Retained surplus for the year 4,360 4,654
Retained earnings brought forward 1,950 1,396
Distribution under gift aid (3,305) (4,100)
Retained earnings carried forward 3,005 1,950
The assets and liabilities of the
subsidiary were:
Fixed assets 9,584 8,201
Current assets 4,022 5,209
Current liabilities (5,612) (5,942)
Non-current liabilities (2,295) (2,822)
Share capital (2,694) (2,694)
Reserves 3,005 1,950
**----- End of picture text -----**
**----- Start of picture text -----**
15 STOCK Group Charity
2022 2021 2022 2021
£000 £000 £000 £000
Catering stock 93 61 - -
Retail stock 62 66 - -
Other stock 39 13 39 13
194 140 39 13
**----- End of picture text -----**
39
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
2022 2021 2022 2021
16 DEBTORS Group Charity
£000 £000 £000 £000
Trade debtors 5 7 4 7
Loan to group undertaking - - 2,614 2,814
Other debtors 350 668 323 657
Prepayments and
559 378 496 219
accrued income
914 1,053 3,437 3,698
A loan totalling £2.8m was provided to Howletts and Port Lympne Estates Limited, repayable from 27 June
2022 over 3 years. Interest is charged at a floating rate of 2.45% above base.
17 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group Charity
2022 2021 2022 2021
£000 £000 £000 £000
Bank overdraft 1,239 2,577 1,240 2,577
Bank loans 402 - 402 -
Other loans 513 500 500 500
Net obligations under
29 59 29 37
finance leases
Trade creditors 1,362 1,192 1,058 730
Amounts owed to group - - 3,358 4,039
undertakings
Amounts owed to
- 87 - -
connected parties
Other taxation and social
1,581 478 298 120
security
Other creditors 63 66 28 24
Accruals and deferred
3,707 5,360 363 539
income
8,896 10,319 7,275 8,565
**----- End of picture text -----**
The bank overdraft is secured by way of a guarantee provided by C Filmer, J Aspinall and R Birley. The overdraft was extended during the process of the refinancing of the term loan, and a temporary facility increase was made available during the year of an additional £2.8m. The refinance of the term loan was completed in 2022. The overdraft facility was then reduced during the year to £1.5m.
40
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
18 CREDITORS: AMOUNTS FALLING DUE AFTER MORE ONE YEAR
Group Charity
2022 2021 2022 2021
£000 £000 £000 £000
Other loans 810 1,250 750 1,250
Bank loans 2,212 - 2,212 -
Payments received on 22 8 - -
account
Net obligations under
19 38 19 37
finance leases
3,063 1,296 2,981 1,287
**----- End of picture text -----**
Obligations under bank loans, included above, are payable as follows:
**----- Start of picture text -----**
Group Charity
2022 2021 2022 2021
£000 £000 £000 £000
Due within 1 year 402 - 402 -
Due 2-5 years 2,212 - 2,212 -
2,614 - 2,614 -
**----- End of picture text -----**
A bank loan of £2.8m was repayable from 27 June 2022 over 3 years at a floating interest rate of 2.45% above base. The loan is secured by personal guarantee from C Filmer, R Birley and J Aspinall and a charge over Port Lympne, Lympne, Near Hythe, Kent.
Other loans consist of an Aspinall Foundation loan of £2m loan taken out June 2020 and repayable from June 2021 over 5 years at a floating interest rate of 2.09% above base, with the 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:
**----- Start of picture text -----**
Group Charity
2022 2021 2022 2021
£000 £000 £000 £000
Due within 1 year 29 59 29 37
Due 2-5 years 19 38 19 37
48 97 48 74
**----- End of picture text -----**
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.
41
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
As at 1 As at 31
19 DESIGNATED FUNDS January Income Expenditure Transfers December
2022 2022
£000 £000 £000 £000 £000
Animal support fund - - -
- - - - -
**----- End of picture text -----**
**----- Start of picture text -----**
As at 1 As at 31
DESIGNATED FUNDS -
January Income Expenditure Transfers December
2021
2021 2021
£000 £000 £000 £000 £000
Animal support fund - 30 (30) - -
- 30 (30) - -
**----- End of picture text -----**
**----- Start of picture text -----**
As at 1 As at 31
RESTRICTED FUNDS January Income Expenditure Transfers December
2022 2022
£000 £000 £000 £000 £000
Scottish Wild Cats Fund 2 - - - 2
Howletts Education Centre 2 - - - 2
Lions and Bear Enclosure - - - - -
4 - - - 4
**----- End of picture text -----**
**----- Start of picture text -----**
As at 1 As at 31
RESTRICTED FUNDS -
January Income Expenditure Transfers December
2021
2021 2021
£000 £000 £000 £000 £000
Scottish Wild Cats Fund 2 - - - 2
Howletts Education Centre 2 - - - 2
Lions and Bear Enclosure - 36 (36) - -
4 36 (36) - 4
**----- End of picture text -----**
**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.
**Lions and Bears Enclosure** - Donations received for the building of new enclosures for lions and a family of brown bears rescued from Andorra.
42
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
20 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Restricted Unrestricted Total
funds funds 2022
£000 £000 £000
Tangible fixed assets - 11,184 11,184
Current assets 4 1,282 1,286
Creditors due within
- (8,896) (8,896)
one year
Creditors due in
- (3,063) (3,063)
more than one year
4 507 511
**----- End of picture text -----**
**----- Start of picture text -----**
ANALYSIS OF NET ASSETS BETWEEN FUNDS - 2021
Restricted Unrestricted Total
funds funds 2021
£000 £000 £000
Tangible fixed assets - 9,849 9,849
Current assets 4 1,904 1,907
Creditors due within
- (10,319) (10,319)
one year
Creditors due in
- (1,296) (1,296)
more than one year
4 137 141
**----- End of picture text -----**
## **21 COMMITMENTS UNDER OPERATING LEASES**
Total future minimum lease payments under non-cancellable operating leases are as follows:
**----- Start of picture text -----**
2022 2021
£000 £000
Within one year 101 240
Between two and
- 145
five years
101 385
**----- End of picture text -----**
## **22 CAPITAL COMMITMENTS**
The Charity has had capital commitments at the year end as follows:
**----- Start of picture text -----**
2022 2021
£000 £000
Orangery - 141
- 141
**----- End of picture text -----**
43
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
**----- Start of picture text -----**
23 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2022 2021
£000 £000
Net movement for the year 370 1,862
Depreciation charges 1,638 1,279
(Profit)/Loss on sale of fixed assets (3) 30
(Profit)/Loss on sale of intangible fixed assets (12) -
Amortisation charges 23 15
Increase in stocks (53) 31
Decrease in debtors 140 (73)
Decrease in creditors (86) 987
Net cash flow from operating activities 2,017 4,130
**----- End of picture text -----**
**----- Start of picture text -----**
24 ANALYSIS OF CASH AND CASH EQUIVALENTS
2022 2021
£000 £000
Cash in hand 178 713
Overdraft facility repayable on demand (1,239) (2,577)
Total (1,061) (1,863)
**----- End of picture text -----**
44
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **25 RELATED PARTY TRANSACTIONS**
The group received a loan from The Aspinall Foundation in 2020 to support the Parks throughout the closure period of the COVID-19 pandemic. At the year end the balance due was £1.25m (2021: £1.75m). The loan is repayable in equal instalments with the final instalment due for repayment in June 2025 at a floating interest rate of 2.9% above base per annum. During the year, interest of £52k (2021: £22k) was paid.
Sales invoices, being recharges of costs incurred on their behalf, amounting to £318k were raised to The Aspinall Foundation and purchase invoices amounting to £8k were raised by The Aspinall Foundation to the group. At the year end, the group was owed £3k (2021: £331k) by The Aspinall Foundation.
The Group rents freehold land and buildings from The Aspinall Foundation for an annual rent of £1 (2021: £1).
There were no payments during the year to Consulting Services POD Ltd, a company in which P O’Driscoll (a trustee in 2021) is a Director. In the previous year payments of £34,200 were made for the provision of interim Finance Director services.
A contract for interior design services with Victoria Aspinall Ltd was entered into in 2021 and completed in July 2022. Mrs V Aspinall, the wife of J D A Aspinall, is a director of Victoria Aspinall Ltd. The value of the services provided during the year was £50k (2021: £50k). No further contracts have been entered into since July 2022.
During the year purchase invoices amounting to £638k (2021: £518k) were raised by Walmestone Growers Limited, a company in which J D A Aspinall and A B Kelly were Directors until May 2021, for the supply of fruit and vegetables for the animals at the wildlife Parks. At the year end the group owed £35k (2021: £32k) to Walmestone Growers Limited.
## **26 COMPANY LIMITED BY GUARANTEE**
During the year, sales invoices, being recharges of costs incurred on his behalf, amounting to £23k were raised to J D A Aspinall. At the year end, the group was owed £3k by J D A Aspinall. This has been repaid post year end.
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.
## **27 CONTROLLING PARTY**
The Charity is a company limited by guarantee.
45
**THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**
46 **THE HOWLETTS WILD ANIMAL TRUST CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT 2022**