Bristol, Clifton and West of England Zoological Society Limited Annual Report and Financial Statements for the year ended 31 December 2023 Roglstered Charlty Number: 1104986 ReglsIw￿ Conwny Munkn: 5154176 Bristol, Clifton and West of England Zoological Society Limlted Contents Page Message from Ouf Chwr of Truslees Our strategy lo 2035 StraI￿C Reporl part l - tyjr a¢h￿ven￿ts n 2023 Strategic Report part 2- fina￿la1 oveNew Structur8. govemance and management Stslement of Trustee's ResF4)nssbilities Indeperyjent AuthtQTS Report 17 18 Our accounl5.' Cons(4ld8ted slaternenl of financial Xlréilies Consolidated balance sheet Consolldated cashflow 5tatemenl Notes to the accounts 21 22 23 24 Brlstol, Cllfton and West of England Zoologlcal Society Llmlted Report of the Trustees Inlroductlon from our Chalr of Trusto•s It is my p￿aSUre to inliothxe 2023. 2023 was a signlfi¢ant yw for Ihe S￿￿ty. as to defverLM our ￿5$￿n of'savwj Wldlife Togelherf. It as also my first year as Chair c4 Truslee5, a rde l am kYOL*J io take on. I vrtxjkl like to takg thi5 ￿pOrtUnity to thank Charfott8 steFo•d d(yhm as ChaK of Jn May 2023. aft•r 12 year8 of d8dICat￿ s*vice to thg Society. In 2023 the Sod•ty to¢k thpslo d•fv•i CA) lis n￿$￿)n. plans to ¢rnat• # Mw eor*eN#tion zoo forthe 21sicerrturyat Brist￿ Zoo PropctlBZP- WI￿ Place Project). (hjr rAanrirwJ application fora rth¥ Central Affri￿ Forest habitat was appro¥&J and pkns fc* the srte Masler Plan sutmitted. whth together wlll b￿￿n to transfomi th• exp0118n￿ for a)imaL8. ¥igtLVS aThJ staff aThk•. a VLSrtor. I cannot waftto s•• w8stem l¢)wland gorillas and thrry L¥owned rnangabey ckrtrfng trees, IMWWJ ￿ SPX05 that more L*)sety r&llect tt%ir na￿ra1 habitats. As Chair of Trustees. l am ¢omrnitted to ts gr￿¥th and devekynert Ihat the r*w zw wll enable. ofow significan¢ eonservats"c￿ al￿ eduolKm pngwimes ui the UK across l)e w￿ld. In 2023 Ile8e cA)nSeNats￿ prr4rartMnes dekn￿l amairo rewlts. In Madagascar. we pbnted rn0￿ than 15.0￿ trees in Sahamalaza Natifywl Path to help jtyn up t￿￿ets of f￿sl wme in the UK. we released more Ihan 300 capti¥e-bom, white4awed cray[￿h inlo kKal ark s*es. In Septembgr. exlind in Ihe Partula snails bred by 8risiot Z¢)0 Proie¢l's ¢dothemi k￿￿r5 werg Ihxn lo Tthili to be reintroduced. Whlg ￿re in th? zoo our keepers At the somg tirn¢, we wdDJmgd over 317.1)00 17.IMI sthcK)l thildren to the zoo and laught over 4(Kl undergraduate and postyraduate degree st1hy￿ and zoological M￿ageMent. hety'rg to cveate the ¢l￿serVa￿"0nKSls ol the firture. l am par￿￿￿ty piwj that In 2023 ￿ la￿c1￿j a Acce5S to Nature scheme that lund8d visils and #d￿at￿l s•styJns. offérs adulls, ywng 8rKI thibjwn Irtyn le$$ adv*t89ed bad(grounds the otvJ1uth kn visil aNI Iwn at Briskl Zo) PrW. Thè Se¢ièty'$ siratew 10 2035 was d•Y•knp¢d to•nablè of trms and education Mxk. while alsorxeating arinanC￿lY resl*ntorganisationlorthefithJre. ￿thth￿ in mind, l arn p￿aged thalin 2023 weccffipleted the sale ol the West Cw Park in Clifton and *0 that Briskl C￿￿￿1.$ Deveh)pment Contml Commiltee resolved to wni planning eoM•rt for ow ZLK* Gardèns. Vk èxpèct tts thé salè in 2024. I would like lo fake this Opp￿lUnIty to thank w Surp)￿. menknrs who have rem&n8d st•adlast throughout w Joumey. and ouf d￿ted tIo￿nteerS *)d ￿loye￿. Vffjtlmxrt vthom none ol thL% would be possi￿4￿. I rernain proud and wnaz&J ty al Iheirefforts and am W￿8￿.￿+Y graieful frjr ¢veryllm9 Ihgy do. I W you Ihxl tris rnport uselul a￿1 f￿1¥￿￿ towekmig to Proittt in 2024. Dawd Ewn. Chav ofTntytees Bristol, Clifton and West of England Zoologlcal Society Limited R•port of the Trustees Icontlnued) Our mlsslon - Savlng Wlldlife Together Bristol Zookg'cal Society was 95t*1th8d in 1635 *ilh Ihe chwrtth objecllve to adval￿e the public U[￿arS￿n￿1n9 and conservats￿ ofTrMldlfe and Ihe natyral enwiroNrwnL *¥J sc*èrfft ol plants and anKnals. d arg As ¢￿￿￿•t1•￿ to these ¢**clNes kthy. as￿ were 189 y8aw8 a9). Today ¢yJr mission is S8v#vJ Wldlrfe Tc9ether. Our¥isM)n is for*rybJllèto l)• a partof•very￿e'S li¥e6 and tr pwle to wt to. and been￿led to, P￿tEct wildlrfe now and tr the fUt{J￿. To delNer on our ofX￿. i1w￿￿J. N&tronal8nd rnt8m8lK*J￿rèSew¢h and eons8tyatkn *rykcamed Ihe fielrt. We bgad 36 fieks conservation pr0￿Cts and pawb"cipale in 84 L￿d￿￿j progfammes &y at risk ol gxt1nc1h￿. Edvcatw 8ndl8aming from wg-srj￿l to PhD" W• wide educati￿ Fff(¥Jrammes for m¢xe than 17,000 schookhithj￿n and 350 highew educat￿ studenls a year. ANI infomal leaming br al visilors ¢0 8ZP. ¢)pgr8te and develop 8ZP a5 apopular vNsitorattrat¥w 8nd C￿tre for ￿ld11[@ cons8ry8tson.' Al our award- winnLrg consarvatson zoo. w8 care for some of the wcM*Y's ft￿t Ihrealened animals. Aknost ￿ of sp*ci•s are both threatened and pari of tar9eted cons•Nation F¥tyJrarfmes. Communily 8enefit.. We pwtw 53 comrTwrMty grLWJK6 and ChaIrt￿$. such as Bristsfs Chldren HO$￿￿7 and Teenage Tw$L lo 8¥*y￿ aec•ss naiwe. Our Strategy to 2035 (>Jr c(MThmitmenl lo wAkI￿e is centr1￿ dd. 11 cg)mes frryn a desirè lo bettw undetstaThJ kfe on our planet and inpire peop￿ tLI eryage ￿7th natu￿. vistt￿ is lor Mrykisfe to be a part of•v•ryon•'s Ives and for petyle to want lo. a￿j be enabled lo. proie¢i v4il(fft Th)w * l¢x th• (ubfye. To dehver on thhs wsion. 8n5101 Zoc4e4i¢al Soo•ty is ddwemg a Ihat sels oui our for nexl 12 yews. as we Joum8y loW￿ts Ihe Lwcenlènary ￿￿sary of th• s￿)￿lY in 2035. In our Strategy identify ffive objedives thal t(gett￿TwI enable tyjr vi%th: Sawr¥J wlthlè 2. Engawry Put￿ 3. CrgatsThJ ¢on$grvationi5ts Sustaining OLK envir*Jnrnoni S. Suslanng ow futhre By 2035 w• *iH". Grow the prCVx￿ of species ZOD Ihat ar• t￿•ater￿d and targeted ¢onwv81ion proJramn*s to mre than 90% Engage and Inspi￿ over ￿.1)l¥j scho(knkSren and sltyjgnts 8nrrtTh- the rmaNatknntsts of the future 8eccffie 8 cart)tsn-n8utral (Kgaiwsaii Oevekjp th8 new &istt4 Ztsj Ily0￿ a m4or ol captsl ￿ve$IMent a new cr￿Se￿all¢ Su¢c¢¥sfvl d¢livery of our luThJamentalty rji Ihe (Joswe of Brlsiol Z¢>J Gard•ns ii Cliftan and creabon ofa new zco 21st c4rtury al Zoo Pr(iecl IprevKJusly Wild Proiecti. Here we have a unique I￿p(#*I￿ty lo.. redeffne vthat a zw slM)uWJ bè: wth al that Bristol zo￿091¢81 Swety t*)es as a MOd￿n ¢(KW￿atlc￿ thanty., a￿1 aNI dèvek*) tyJr ¢C￿serva11)n and educalKJn pTogr8rnmgs ' UK and &ross th• worhj. pl￿ the zw inr*bJ¢'. Two new brnm8rsive lar¥J8CAF4S. whSd) ¢l￿ne￿ ¥isitots to ￿eatened ￿h￿fe. The Central Alri￿n Forest wll become hcffie to our exisbThJ trrrp ol westem wilas. w&ho wil be pined by ￿r0ered ch?rry tmwned mangabeys. Other new sperie5 *vAI erMlarwJered African grey parmts and crthcally endangered sl8ndèr-snouted ¢r(￿0dlIe$. The Cenw Afvi¢an Sav￿￿9h ¥¥il i￿lUde addilknnal SPEc*s of black rhinos and oslnches. I￿ning giraffe. zetwa a￿1 ￿te￿)pe. 8(rth habilats havg been dkn)￿n io rèllèei the eonservation progr￿9& w8 wun around rn*¥19 of the na￿ra1 landseapè of our sitè. Bristol, Clifton and West of England Zoological Society Llmlted Report of Ihe Trustees {conllnued) Our Stratsgy to 2035 Icontlnuod) A new visitor experience wilh new•knis8*yffj. retaq. caterry play facW*s ￿11 kvovile ts best Wstt experience possiNe. A ￿SsIble con5ervalh)n and leamThJ ￿rr￿S th* w&iN pro￿￿ an￿1 Ixeeding facilities h)r highty threaiened speoes. and ￿nServa1￿jn velerinary medtine facilities A)r It8ch•)g Ond animal w•ffar8. Th• Cons•Nalth Camws will incbjjtr a Ange of conseNats)n aNJ &f• scitnt* texhing Sp￿$. providing base for Ihe S(Kiety's CLThervalion The devewrtht of BZP both (NJr otiethe to cart¥>) neutral and anhanc• bN)dTr￿[Sify on site. At BZP. we will buibj on existing propc15 Ihat haye dE￿well.. kcal 7Aryldlife corrKlor5', SiWVgy5 of native fauna and flora. and t4rgeted conservatiw 1nknentKV￿ to kyeserye wil(*19 habitsts. As a resdt ol our transfomiation. whith ￿11 incI￿￿e a new ¥K¥)thwd mwagerrenl pkn ￿ ¥rprovements to tmr meadow. th8 BZP MasterpL4n will ensure a biodiversity net ga•) of at ka5t 10% the srte. from ￿ alreaty 11￿b basel'ne. Brlstol, Clifton and West of England Zoological Society Limited Report of the Trustses (contlnued) Stralegic report part 1- our achlevements in 2023 8r6101 Zwh)gKal *Y)wks ￿ th• ofan a￿1 i*m8ts c¥isi$. W8 b8liEve conservab'cffi zcos can play a central r(4e in p￿¥entr￿j Ihe ex￿[￿￿0￿ ofeTrJarwèd spti￿. gs **ll as educatry commuThb¢$. In thi5 section I￿11￿ a s81eci￿ of¢M 2023 ach￿e￿I$ rWINma￿e 4ainst the fve ofourstraie st vin Id Tiièllednew lecl]nwues to rod￿￿ and rel￿*1t¥ykrftsng ol I0￿$t elephants Equalofral Guinea In 2023 w8 conlinuwj our with knal lamws in Equal0￿ Guima io r•duc• crop.foraging and retsliatory klthng ol lor8St elephant5. Our ffjnovalive resewchers lrialed (liffereni techn￿u•$ io keep elephants away from ryops, Indudir4J a smely dèphani r•￿11•nt madeff(*n9wbc. gw. cMhF4J*YleraThJotherwediènts. b8ehivas lelephan a￿ afraid of beesll and kjud sirens. June we wdcornwj Iv+T) Pl)Ilpwne s[￿ed deer lo 8ZP. Tlwght lo be Ihe fare5t deei speues in the *Y*ld, th&y are dassed as endangered tsy Ihg IUCN. In ￿￿k1 Ihe deerwe thalened by habital loss and i1￿0a1 I￿nts"n9. tt's hop&Y thal the duo wll go ￿ to slart a la￿￿ty oflJwtr*n to he¥) safegwd Ihe futwe oflhè spoc*s, which Is Ihothjm to be made up of fe*er than T￿ ￿￿1vidUalS in Ihe ￿k1. lnIem￿l0￿8I GK#ft* Cam CMI￿nce In Novèrnbèr in a Eurwan fnt. h)sled ¥*ykl reThJ*ned armmal Ca￿ experts Q)eyenne Mountain Zo¢'$ Inlemalional C8n18r for thè Car• and C￿Se￿atrOn of Gyaffe. its Ihe hr5t time Ihe has led workshc4)s and Ira￿Ing sessionsout&d?olthe US. The four-day c￿fere￿I0¢￿sed on b¢$lpracbce and c￿9 lorgirnlfes and h>)ked at a numL*f or i(¢¥cs, nulrrtw * IL¥agry. knfcwe. heath and bèhavM)W. New r9searcfvpubl￿0n K0￿01a￿ ￿￿ff•S fft Cam8fDDn s Bénouè AlaithalParf¢ In Oe¢ember in partn8rship with Ihe Unive1• of Bri%trA we publkshèd v44bthty c4 Korth)fan giraffe Cameroon's Ben0￿ Natffial Pafk. vlhich ¢￿￿￿ed that (y)3thing of two r￿liCa￿ endang8red KO￿Ofan giraffes per year could result In exknCl￿n In yjst 15 wlhtyjt i*eNentw. Bnstol ZrM)k)gKal have been worting to conseNe Ihts h￿h￿.threate￿ rnammBI sirKe 2017. A n8w name lor Bn￿Olzoo Pfq8cI In Juty we revealeij a new name and braThJ Pl￿ Propct. o￿alty caknj Bristol Z(KTr Project. We have been wming a zoo since 1836. $0 the n￿le ollects (Alr past. li also rèfltcis tyjr Iuiure as the zoo is a "Project, our w%tors, partws and 4>F%*ters to save togetNw. 41% incTrase irj vi*iots attenthng t*ks W￿lear￿ng 8boLttct¥JS8Th8i￿ft In 2023, 54.270 wsitots all*nded 1.717 la￿ al BZP. an irvease 0141% frLYn 2022. Visilors attfrnded existing lalks on Bear wo￿, [r￿tr￿ats, ￿mu￿ and giraffes. akxKJs4Je rw such as Ihe c￿lith talk. Each talk eX￿aine(l hy these anwnals are kept at Ihe zw. helwg its knspire a olwilJrfe among ¥￿1￿. A new annUaIpu￿¢prOgrnllwnO tslhe z In 2023 we lawKhed a new amual pubk fiy th8 zco fgaturiThJ •v•nts suth as Swinglesl. A Very Huwy cater￿lar a￿1 H¢xkiween. As Mel as attrxw visths. Ihe •vents helped en9ag9 yQLmg rn￿d5 and brrJad&n their un¢JerstsndiThJ and appreciatkjn ol Ihe nalural SLth as wh•r• Visi1¢￿ malched xqays and t￿ne3 to Ihe ￿jht anirnats and bamt how anwn*' Skeletts￿ •Jarrted for thw"r dEt arKI Enh8nCN￿ 8nSI￿ Zoo Pmjecl Whme ￿anS for thè now 2ts) *• unOerKay. we did nol stil bjt uMrtiThJed to enh￿ and deveky our zoo for members and visitors. In Juty we revealed a new naN* and brand lor Wllj P*9 Proiecl. now officially ¢7thed Bristol ZCKI Project. trt Easter￿ wetomed a mth c(m)Km oslrrhththow&8 laterioined bya lamale. In Juty endarwer&Y Pl¥l"ppine Spotted Deer Th)ved in arKI m Novelr*￿. ow black moved lo Bnstol Zts) Pfol•tt from the fowmer Biislol Zoo Gardens. Bristol, Cllfton and West of England Zoological Society Llmlted Report of the Trustees (contlnued) Creat nists In 2023 taught 403 St￿lents. in￿d￿9 wty4cxr-year•okJ Gery fL*sior who COM￿0t•d a Master's degre• in Advanced Wi*lrfe C￿se￿atr￿ n PractwaThJ pffjsent￿ *ilh our'Conservab"onist ol Ihe Fulure. award. F(x Masters wesearch projecl, Gery d6vekyed a r￿Way0[Map￿¥ng urban park 9r8ss18nds lo hel) drstir¥uish be￿0eTr rn¢adows and grass. ￿1¢h could he¥• aulhNths plyi pa￿ grassland reSt￿l.0ns. LaurKheda n&wAccess lo ￿atUre scheft ThwMJgh lundad ￿[￿litin ￿$ts. eommuThty or a ur*]uèeommunty mefflbèrship, tht Access io Nattjre stheme prowdes ￿pc￿lun1fIe5 for nvnbers ol ow c(rnuiwty face barriers a￿ssing nature. Fundel by grants aThJ donaknons. the sdwne supF¢)rts diNwse &)cal¢(*YThmths to 1801 cl￿n0¢tod to natur8 and l•am at4JUt S8￿n9 wldlif&. In 2023 tlkp AV￿ Gorge and L)owns Wildlife engagen￿nt atKI loam. ￿1n￿Y fund wlh Bristol City nol. increased the aYalats"Ilty of fomial *arThNJ to neW3￿11￿)CeS by imKAementiNJ 8 weekty pre-sch¢x)I p￿S adult session. OveraN, 4,592 peopfg ￿ ¥￿hA7*￿ Gor9e ar¥J I)[y￿SW￿e through waks. tth. cr￿lse8. thklren's and farnity event$. Sust our enw1(￿rrtht 71% roduction ￿ GonsUrnpts￿ 01pu￿a$gd oknlricly8ndgas Be￿Ween 2019 a￿1 2023 Ihe Society rethjced ils wwJy, watw. ¢•t¥m emlsslons by (kn￿MiSSIC￿l￿9 8ri5toJ Zoo Gwdens and c4x￿OI1da￿"r¥j rts athllies at PW. When eunp8ring 2019 b8sel¥* dala lo 2023, twe was an overam 71% reducl*)n in the ccffisumption of both purchased dectrmity and gas 13.213.435.7kth •18clmty aThJ 2.529,472.1kWh gas rèduetionl. At Bristd Zots Gardet)s. w• decreased gas usag• by 69% ar Bristol ze￿ ProjècL ￿ tliminatéd th8 use ol ga8 completety. 0[￿8 Bri5td ZLkJ Garden5 has tJ8en tultry deco￿￿. swed. the So)ety's gas (￿s￿np￿"0n wll be zero. In 2019. th• Society 9.75k7*lh of energy (pU￿ha$8d elBetrtty and gasl per visitiw. equivabnt to Ihe ereryy required to make 212 cups of tea visitor. kn 20rJ, w8 Used 7.37kWh of energy. equivaknl lo Ihe energy required to m*9 160 cup$ of ￿ per vBitor. Suslainin C￿1 fubxe Incms6dphil•nlhropK $upptyi In 2023 w• rnc•ivad ssvèral plètys a￿1 ¢knai*Jns frixn twsts and fourKlatsons £100,000 fr(Mn clo￿ Duffiekl Fountsb"on to devew ayj ￿h￿Ce w educaknon w(¥Jramme.. £1.5 from Ihe Garfidd W&St(￿ to wpKort the ¢reath￿ cl ow new Cenfral Afrw FrKesl h*Jiat al 8ZP, £150,000 from the Fraxinu5 Charitai4è to Iwther our in E¢wakrial &inga and deveb)p Ihg ¢gn1ral Alri￿n Fore8l habital at 8ZP. £23.695 from Wild Anwnal knitialwe to sutwt prOt￿lyJ the White Clawed Cfayfish: an¢J £30.(Y)O from DEFRA lor eontrdling invasib* sp8ties in Ihe w•as S￿r￿nding BZP. Aor¥JsKle Ihese 8Ffr*ts. w8 mainbn•l ctitical fuThJrwsiThJ to secure uwestriaed I￿￿5 thr(x* appeats.. cormte Sp￿$0￿h1p,. ctyporale rI￿bers1￿"p", events. At the same time. we twk sleps lo lurx1raisThJ mpact in 2024. We restrueturèd Ihg toam to ereatè m¢y• effiaenl WKI effedive operat*)ns,' brougm in SpeC￿list and syanl fundraisers to support our catyal pruJramrn8 and eons•Naiion èxpanded ow Irusl aPp￿calKIn8 to kncal and natKJnal govemmenl bodies. All of wlw.ch wlll hsty us rnoel thal8wwJW￿ lundwasW￿ targets aTrJ •nabl8 the dmI0p￿￿t of Bn5101 Zoo Prwgct and on90iw conservalion w￿k in Ihe UK arvj ovefseas. Achi￿d8 4+.81% fm•thanJ •¥J 4.38% (m•>J 9Md•rpay gap ￿$taffl Our pay 9ap is based ￿p1)yee dats as at 5 2023. when empwed 144 stalf. Boih olx mea) and medon pay g¥s. *l)Kh m•asure th• drffwértè bei**•n lh• awagè ofwomen and men. ara bjwest Bristol, Clifton and West of England Zoological Society Limited Report of the Trusts85 {contlnued) Susiar owf tw have been $￿Ce twan rewdir*J tt¥$ d* 2019. Both are a&0 shjnthanty below Ihe nthnal averaga. thè meth'an pay gap is 14.3%.. the Me￿ pay ggp r$ 7.7%. Compl8eed Ihe sale olbr05•7tJFoldsite. West Car P** T¢) faolitate th• ¢Jèv4loF¥w)l ol Bristol Z(M) ProiecL the S(K#ety 50kl the unusgd fonner Wesl C¥ Park sl¢• in Cl(lon to th& Hll Group for ￿Idental develLyngnt. The iYvMthkl srte 62 suslainabk and rNch needed h(mas for Bnstol120% 01wh￿ be affordatle tK￿￿"r￿I. tAhith We sensttwe to Ihe herflage and cCffl5eryat￿ area. In Aprl 2023 Brisid Crty Cthjml's DeVelop￿Ent C¢y)trd Commrttee to grant F4annry consenl fr)r the &)ciell$ application for Bnstc4 Zoo Gardens The desNJn wkl bn.ng Much-needed h￿9￿g for Brtstol. provkliThJ 196 n•w h(thes. Indu¢*ng 20 percent 8ffordabl¢. whilg ensunng the ¥re akn beco¥nes a new path. garthns in Clifton a￿eSsIble lor fvee. ts the first bme. Pro￿$Sed the 8n$lol Zty> Mast8rP In 2023 RIBA Stsge 3 deslgns were cunwed ts boih th• nèw C￿1￿1 Afrun Forest habttal. a￿1 lor the transport infrastructwtr ol th• yt*'s *ider Mast•r Pkwi. whth ¥411 trartsform tho wglor arrival. In addibon. RI8A Stag8 2 deswJn5 We￿ comr4eled for all olher elenwts of Ihe M85tst Han. As a rn$ull. all yaclical aspècts ol these two a￿8$ have now been thcided. 1nduth.ng the desw of the aThmal housgs. ¥￿IlOr paihs w¥J laDd5cape5. Fl￿OW￿ thls. plann apF4icab"ors for bolh ar88$ wer8 suLKnrtt8d to S(wJlh GI0￿$￿e Cwnd. vrtth apwOV￿ gr￿ted for lh9 Central Affican Fwest hatMtaL Looklng ahead to 2024 Lookns ahead, 2024 will be a %gnifth)i y•ar fN Ihe Socw as we c(th'r** lo de￿&r on our tran5rorrna￿0n. We expect lo. Recewe Ihe Deoslon NotKe. sec1*￿ 106 •3reement WKI pbnnirvJ conthtsfts from Bnstcd City Cwncl lorthe okl 8ristd Zoo Gardens site in Clift￿. At Ihe sam¢ twne. thg SrKW eontiThA to prog￿S$ Ihe sale ol the s￿. ￿ preparatiDD for vacab"n9 in 202S FrA1Th41￿ recwpt ol plaThMng perrThs5K¥is Alit￿ Forest h*Atat and Master Plan, 518rt ¢¢￿St￿￿ti￿ at BZP. ahead of Ihe new weas openwy lo ￿ pubk in 2￿25. Begin R18A Sla9e 3 deygn for other elwnerts ol Ihè zty). such 8$ lh• Vi%11￿ a￿as. Central Aft1￿ Savannah habitat and C0nseThabC￿ ￿pUs. onlinue to develop 6nstd Zoo ProJecL Notably we a new red panda in tm8 for Eas18r and in 5tymmer. OF￿ an increditi18 new pky area'EX￿￿e￿5 Ba5ecaw'. Kxoviding mullthel adventure ￿aY fr¥ children ol all needs and atdlltie5. Brlstol, Cllfton and West of England Zoological Society Limilod Report of the Trust••s (contlnued) Strategic report part 2 - financial results and overview for the year O¥erall Ir￿orne in Ihe was £7.7m12022". E10.7m) whK* 15 a d8cTra5e against ￿ pri￿ year of£3.Om. Athough Ihe admissw and other ￿ffle fry 8nsld Zw Prr4"8¢1 w&s £0.8m 127% Imgher than Ihe pr￿0￿5 year, as expecled, it sb"Il less th￿ fv t(tsl fnc(*rn ofboth gtes in 2022. Restricled in¢¢)n* incxeased si9nificath in 20rJ b) £2.0rn. I￿ludI￿ £0.5m cons8Thabon fundraising12022. £0.3ml an<1 £1.Sm grant ￿$tr￿￿ to Ihe 0)nStr￿a￿ ofthe Cer*raJ Afrtsn Foresl h*itat at BrBlrJ Zoo Project. The profil on $8ks of land invesknerrt woperb'es was £9.4MI20￿.. loss of £0.1m invèskn•nts Yopèrt￿5l. This reflects the wofit on dis(￿al ol ts Wesl Car Park site ah)ng wdh Ihe sak of invest￿nI prop8rb.es and eamping PLwts at Bristol Zoo ￿ar. The Tnotees tov•assumeO ￿thange nvalue for the remaning invastr￿fil Woper￿ as bas•d LN) ojtrent m*knt Il*r• has been M sw)¥k8nt v&*J• Cha￿e$ in 20rJ. Exp•ndlturn Whle income decreased. tolalexpenditurn for 2023 *so dttr•￿ to£10.2m120Z2.. E14.3ml £4.2m18SS than 2022, reftecting the reduc￿ ¢xStsfoIk￿lThj ts￿rkn￿e of Zoo Gwdens in late 2022. Awnall arTh)wrtolexcepknonal eosts L￿E￿Ik ha¥• b••n #Jenb'fied in 2023 as assLWt•J *ith lh• cl)sur• of 8rBtd zC￿ Gwdons. Movem•nl in fvnds The overall surplus ￿ Ihe ckKed defffted bwtefit sdwne has rthe(l 2023 ty £196.IXQ {2022' decrnase of £67,000), folmng a r￿luCI￿n kn Investme￿ value but continues io be in surplus. The overal mgvemenls have reS￿led in an aciuanal loss in th8 C￿￿1￿J3ted slaterllent ol fi￿ar￿al thtses of É196.00012021. jss of £67.0001. The TnJstee$ are Ihe $¢hom¢ go into dgfyj'l again and thg Swety has continued to *ith ihe pension Twstees lo reduce Ihe rtsk tsi Ihe asset t*)rtfolo better match the prDfile lo Iha b'abilities oui ium. Thg rgsuts of th¥ 2021 tr￿[￿41 valuatNJn wgrg firwfwd d￿r￿j 2022, afKI confirm8d that ther6 VRS a suwus as at 30 Seplember 2021 of £141,¢YX) IXI Sewtts 2018: surphjs fl£3￿•.￿)}. $rall. thè nat movemènt in fun¢Js k)r year was a 01 È6.7m. ctmpared lo a loss of E3.8m In 2022. EXCI￿￿1r0 Ihe restricted funds, Ihe had n8t rnov￿t in for Ihè of a Surplus of t5.3m12022.. bss 01 £3.7ml. ￿ Su￿US was generated I￿ the of k•xl and inVestr￿1 properbes. exdu(J8d. the Sou•ty madè an unrnstr1d￿ cwating kjss of £4.Ckn (2022. ktss 01 £3.7ml. Thkg operabng bss was ty￿ned for wilhin the SrKW'S transf￿￿On str*agy, as wè iw•st n*4V conS•rVal￿ zoo at Bitstol Zoo Pr¢48cL Flnanclal key performance Indlcators Category 2023 2022 ¢hano• 8ZP total vi&tor nwnbe 317242 265,739 19% BZP paKI attenda 193.110 159.025 21% BZP admission in¢(Mne (exc. Gift Aid) £ZBm £2.0rn 40% BZP admission incorne Fer payiThJ vig £14.30 £12.74 BZP day wsrtor catering speThJ per vthv £3.15 £3.31 -5% BZP retail s￿rKI p8r ¥i￿lor £122 £1.11 Brlstol Zoo Prol¢ Tota visitC￿ numbers at BrBtol kn Proixi Wld Place Prai8CtI IrKreased by 19% eomp8r8d to 2022. This incr8as• in visitornumbers and [￿ng. lo in amissb?ns o12V%. After a good startto the year. sumrner trad￿￿ was down compared to buiw to wel weather ¢Juring SCI￿ h¢￿IdaYS and wsitor numbe mained bebx txjdggt thrw lo ts ¢￿1 yeor. Brlstol, Clifton and West of England Zoologlcal Soclety Llmlted Report of the Trustees (continued) Fundralslng prac11￿5 The Sw8ty's approath to lundrak5ThJ is s*t tyjl in rts FU￿ra1￿n9 Poky. The SO￿"￿ty primarty fundrai5e5 from philwthmpK souroes le.g. gr￿t bc*J*s ￿ *th*y￿9T￿jp dr￿￿$1, ColF￿rate sponsorship (ts)Ih cash and nd'l and f￿dr￿￿rrfj everts. The Sooety recwises lh& need lo ¢￿JL￿1 rts c(ffil•xl of rec4y)wd stsnéards sel out In th8 Instrtute tsl FuThJrai*ng s IloFI Code of FuThJratsiwJ PraclKe. the Data Protec1￿ Act 2018 an(J Ihe CAP Code {Comrnitt88 ol Advgrtssng Practcel. The Fundraising Policy str8sses Ih8 importaKe that ￿ ￿dN￿Ual sho￿1 use their position in th8 SLKiety for personal gafft. or to benefi¢ othe(s al Ihe eX￿r￿e of the Sw*ty. ts miss￿)n. or reW¢at￿n. The Polcy abo sets oul that Indmduab must noi ath on any way tr*1 WJIJ be rea$￿ seen by others as comprontsng the IndepeThJenc& and integrty of the Sctiety. al th.tses are 10 be Carrie￿ out vthh honesty aTh1 integrity, With employees never knO*￿ty ￿￿leadillg SLWOrter5. Any (xjntdewtsl I[￿1￿ oblained must aKY4y5 be protected, and that the Iwst ol all suppcrfters is not violated. Tr Poky also sels the way in whth dgal w*h fundraising wptsints. Remunerallon policy for staff The Swety has a rernunerati￿ pc*y for an staff. set and nm)n%t￿ed by Committee. In wew of the nature of Ihe Society. Tnjsiees t*Khmark agwnsi pay levels th) olher zoos and ¥￿IlOr attractK*)s of a similar size run on ¢har#able ba%s. If wultment has kwoven tsffi¢uli. a nwkel addilw rnay also b8 paid wth tho pay maxknum no greater than the hwJhe5t benthmwked Sa￿ for a rok. Prfnclplo risks and un¢•rtainties Rlsk Manag•monl The Finance. Risk and Audit coM￿tIee ts resp(￿￿ ￿ behalfofthe Trusiees for remewing Ihe pohde8 and Ove￿11 process ts 1defit￿￿9 aThY assess,￿ risks to the Srx*. bl reviews Ihe mw stralegK, b(tsines$, f￿ancial and ope(at•)nal risks lowh¥* the S(tiely ts exposed. b(Ah the before controls aNI milgating act¥)ns and tho risk after taking these ￿tts account. Sysiems have been lo mitwjate those r6ks and pro￿U￿$ have been tmplementèd lo mNwrri$è any pm)ten￿al ry8et Lffi the Scoety shtsJkJ IIM)se rtsks mattsriahse. The Trust￿ arg genoralty 8alBfied thal proFer ¥ystwns, ￿[¥3 risk assessment p￿¢?$$9$, ￿01th an¢J safgty p[Or￿Ule$ arwj Irtsular￿￿s tdace aryl that are In pl•x lo wecwise an¢ rwale exrKJsure to other mapr risks. Th8 principal risks laftef lakiThJ ￿t0￿￿nItY0th t(￿1T0L8 and milw'ng *tionsl ha¥t bèèn by thè Trustèès as.. achi2virg the s* of Ihe and I)ft(￿. the 8wisirA Zcrf) GardewL8 site. lor b8sI vahA8.' finahsing the plannirKJ aNJ fw*Jlng for the de¥dopmenl ol the Sristrl Zoo Prq"e¢l", fa¢lita￿Thj Il* smo¢th ¢losure 1rans1tK￿ of peopltr. slwjents aThJ aft￿nal$ to Bn"$td Zoo Project or allemativ• faclilies ￿￿lIE the consiruct>)n of wrpose bLiK lacSt*s ts tnahsed." the ¢halbng8s of runn￿9 Bnstol ZCKJ Pryl unll Ihe on srte ￿VesIments pro¥hle n8w fac￿￿eS and exhibils; the need lo mainta"n an akwrokv,ale levd of &gsh ￿erVeS for the size and nalU￿ of (he charity. taking into aco)w)t Ihe b.ming of p￿￿ety diswsas ar¥1 Thestrnenl ￿ Brtslol Zoo Prgect vtsuring suffio.ent unrestricled. )dwgnat•d r•s•¥v•s to support ihe knYJ4•mi th*stft￿t arKI maIn￿nanCe ol Zoo Project. At th8 Strateg￿ I￿1, risks ar8 beiThJ •SJre8sed the Slr8tegy to 2035. Th&cptimwn vse ol wr land and PrO￿￿Y assets. InCr￿¢d W fa¢ilili¢s philwtrwoFK w51 fund ts delivgry ofthg 8ri$lol Zoo Pr¢)ig laster Han and our wder chwrtable a¢￿￿tieS. 10 Bristol, Clifton and West of England Zoologlcal Society Limltod Report of t￿ Trustees (Con￿nued) qUit*ty and credit risk are ￿1$thred low. as mc6t is kn admi59(ms. Onfyf a smaff of our income is ￿lled for later payment by wsrtors. We UThjerS￿ and nxYit0r￿r ￿$b and ouffiows carefully and only embart on large speNI 0￿e *e have rea5rrfth cwtsinty of the cash genwated from orwatN)rts, secur&J fuThJraising or b￿r0￿￿j in place. Ow overdraft fwjhty and ￿¥0￿ry uedil tscilities further liqu￿ hjnds and we maintain lulty I￿Ul￿ cash reseThes. We have vrnrwnal exp)swe lo interest rate risk on our ljxrowros as all are at fixed rates atx)ve LIBOR frxthe temi oltr* knan. Roservos Th8 iotal reseryes oflhe Soriety atyewerKlw￿E £46.1kn1202?. £39.3rn1. InLluded wrtty"n this 15 £1.9rn12022: £0.Srn1 of rostrictsd resetV8s. The &tiety's p(*y res•Nes is to record th)natKJns. gYa)ts and other sources ol fundraising sèparatety wher• we brw8d ty lh• tthJ•r narrow•r lh• S￿ty.8 ov8rall objedNes. The total arn￿nI ol uNestricted r8sor%ts b £44.1m iarz2.' È38.8ml. The Trusleès have a [￿1¢Y ol desvJnab'NJ Th8 fixed assei reserye of £29.6m12022'. £38.knl fepresenls th& net t￿k value ol the Group's tangibl8 fix*J asseis net of oLrtstawKlw￿ r•lats¢S b￿k loans aKI ar• 5eparat8d as IWcanrK>t b8 easity rèalisèd: Other designated funds tolaVJ"ro £12.2m12022.. £2.7001 for the (￿r￿tn￿thon of the ftexl rthase of the BrBtol Zoo Prr4ect buikj," and An inv85trnent prqJ•rty rès•rn* of tO.8m12022.. £0.8m). The Trustees revi￿ ltrew reserves e￿h year. Tlwe is ro sv¥Jb even a of reserves that is ri￿1 forall charilies. The level olceSef￿ sei ty the Twstees shwkj ￿fi￿lthe partiC￿rOr¢Vmstar￿￿$oI the chanty SOMÈ èxtènt. Ihèrelom. anttunt of sèi asth fft a rasèN8s i* suty'8ctiv8 and thanga over time. As al 31 December 2023. the Soo* is trw*JThJ a Per￿M)n Reserye of £371* (2022.. £566kl in relalon to its defined bel￿ffit p•rth sehem• and oth•r ￿￿*striCted fuThJs 01 £1.Im (JY22: d•lbt t1.4ml. This Is Ai In• *ilh lh8 mlnim vel ol risk res6N8 ojrrentty determmd by Twu5tee5. Structure. governance and managemenl Group Structure arKI Relatlonshlps Th8 Society has one WhOlty-￿￿1 substhy ccryany, Br￿ll4 Zoo Enttsypri￿ Limited Icompany rwJnber 17501671, established to werale the ret4. cateinJ and (￿fere￿g facilties of Ihe sc¢￿ty. It has a I￿￿nCe lo operale these lacllitss aNI gift aitjs ts taxab* to Ihe *iety. Ihese are rnferrnd to as th& Grtyjp. Thg ScKi¢ty holds ong Ihird ol the mem￿r￿l￿P of trli5tory Conscthim. gstsblished lo irryrovg Ihe way we Communlcale ab¢xrt Ihe nabJalwr**Y IhroLW Wy￿¥￿e wbkeverts, Fwofessk)nal devekgmenta￿I intwnatyonal dIa1￿JU9. Is CoMp￿Y r8gistratK)n is 08472186 *¥J it is régLstèr4d as a charily. rvjmbar 1123432. Charitable Objects, Mlsslon and Wislon Th8 chWita￿o ObJ'•cts w• tr) advartt.. Ihe pl￿1￿ ￿KleTs18ndIng aTrJ th? cwserv*on of*ldSfe and the nalwal 8￿[￿n[r￿l and the $c￿ntIfiC sludyof pl•)ts aThJ w#mal5. Thg Sorygty'$ Missicffi 1$ Savin9 Tofftr wilh fv vision for 19 be part of gveryong's and for People to want to, and be enabkd to wotect rKv*J ar¥J for thè ftjiwe. The SctitVs prinapal actMti8s arè lal the OKerabon aThJ Mgc•ng deyek)prn￿l ol Bristd Zoo Proie¢l I'BZP'I as a for Conservati￿ and as popular alt¢aciTh •du¢at•s •ntsrtains the r•sèareh cons¥N*on camed out the r￿Id, aTrJ (el lh8 tKovision of HTr3h8f Educalion c￿Th5. 11 Brfstol, Cllfton and West of England Zoological Society Limited R•port of thè Trustees (continuad) Publlc Benellt The Trustèés eonfirrn ihai thèy ha¥e comF4i•d wih lh• duty i) lh8 Chanbes Aci 2011 10 have due regard to pubbc benefft guKl8nr* publ.shed by Ihe Chty CcrfNni55h)n. The Tnjstees be￿￿e Ihat ca￿￿7r￿j tjrt ol the of the Scrfyety bÈnBfit in # numbèr ol *8as. Induding Ihe prowson ol ethvlion Off**ht￿ for re(xeaknon and the cons•r¥ation of 8ndang•red species. Thty also believe that the deg￿e of rAJblc xcess i8 suffirA8ntfor th8 SotA"ety'S ains to bs carrièd out lor lh• publ￿ b•neffi. The main acliwth'es during the year have W Iheffjerakn d ￿5107 Z￿) P[r4￿l and when Selting admissi¢￿ prices. due ￿98rd is pad lo enabliThJ as many members of fv putrAi¢ as ￿)sSIl￿e to benefit from the fauMie$. A range of dlscounied admlsslon prices are a¥￿1&1￿ tr students. I￿p$. and with disablitie$ etc. The S￿lety Iso offers olhef sd*mes, suth as v(lunteenng. which benefit th)se who V￿￿Id owdA'narily b8 unabkg to aNord acc855. whi￿ Bristol Zw Gard8ns cb)58d to wglor5 on 3 Septembot 2022. il ￿MaInS ￿ us& for gducal puw$ with Hi9h¢r Edu¢abon le¥fv￿ cartbtsWNJ to bè basèd at the site. The sIrate9￿ Report rA)ntW5 a tuler descripkn of lh8 pubk b8n8ft Ihat th? Socbèty provhJ•s. Govemlng Document The So&'oty 1$ 9gv8m¢d by its K48rnraTh*Jm aThJ Arbdes ofAs8O¢thlwJn. Recruitment and Tralnin9 of TTUStees As set out in the ArtifJe$ ol Assfyiatk)n. we IK3ve lo Tnjstees. ofwhryn a￿ norninaled by th? ithfvgrsity of 8ristol and Ihe univer￿lY of West of EngL4wJ •ty. The remaining Trus¢ees are eknted by the sh8rohc4d¢rs. Trusteos swvè a ol y•a% wlh a M￿MuM of Ifwee lem)s. An anatysis of Ihe coM￿ementsry skk15 of ￿ Trustees is Cariied out reg￿rty to confirm Ihat Ihe Tru$l8e$ have an appropnate lange ol eXpe￿Se sk￿$ ￿ 9)Tr4ern the Sco"ety arKI ddwer the strale9y. Any ￿c￿ltment of new Twst8es, as and ￿en requ¥•d, focus•s on Ihe skils whith BoaNJ reqwes. Prospecbve new Twstees a￿ invited to viwt both sites. meet the Chief ExecutNe. key enwoyees and othtsr Tntslees, 3NI become acquainled %wlh the uliure and standards of the organiSa￿on prKX lo atterving k¥ma Twstee meeb"ngs. A pack of inh)m)ation is m* avwlabk tr) r*w Twstees. Thi5 CWWiSes ol the gov¢ming th)trJmonts, pasi annu4 ￿￿eWS, recent sta￿ty fflana9￿nt a(YxA*its. Inm￿185 ol Tn￿ r[￿￿ngS a￿1 other backgr￿Tra maleital inth(￿g rdevant Chwity C(¥nmissw)n wbbcaticffi5. Organlsatlonal Manag8m8nt and d•clslon maklng The Trustees C(￿51der that the Board of Trustees. togelher wth the Exeojbve Board corTyrfse the key govemance perscnnel ol the Souety. In charge of (threctirg aThJ contyrthry. and 0￿rating Ihe SoTh8ly a day-tfrday HoviThJ approv9d thg annual ￿dget Ir8leL*rvJ th8 strat￿ aThJ operathThJ plans). smklementauon and day-l day m￿ageMent is del8gatad to Ih8 Chiel Exécut￿ Exeojbvè Board an(J n￿rt(￿ed by ihe Trustees Ihrough Ih8m. To facilitale effeciNe Operab.￿S. th8 Ch*f Execu￿& has wthonty. vthn lh8 téms of d•l8galw)n apFthed by Ihe Trusiees. fcK Operati￿al malters iThJuding finar￿. er[￿y￿1 and rTwssion-rel8ted actiwty. Th8 Trust8es have 8sktllsW cornrrwttees to rThx¥lor w¢ifi¢ ar•as of the S¢x*ty's optsrations as lollows.. a Finance, Rlsk and Audit com￿41lee a PeoF4e Commttee. In add￿on. Tn X123 the Trustees Implemented a Projec¢ Board and Pfojecl Finance Committee wth specik re5pongblily for ihe new Bnstol Zoo Prqect caF41al programme. The Truslee Adws¢Yy Groups e$tat4t5hed in 2022 ￿ntrn￿e to bring tog¢lhgr spetyahsl$ lo shar eas aNJ kTh)vAedge ￿ spe0r￿ areas aThJ irfkAe a Cc*￿a￿n Advyjory Gro￿ and Public Enga98menl Athisory Group. Th￿8 Group5 are fle￿b￿. wlh a rThx ol intemal aThJ extemal ￿preSentats¥es aNI meet as rewired. 12 Bristol, Clifton and West of England Zoologlcal Soclety Llmited Report of the Truslees (continued) It i8 Ihe rok of the inth¥idual ccxnmrttees to en>Jre that Boad of TnAs18¢5 Considers ￿ crnsbtuent parts of tr Chaiity when d8c1s￿$ aTrJ th•t we used to trAsl ourmlssK)n *)d stral•gy. In a¢xordance with ts Ch&ity ())¥Wn￿ C(*Je ICGC) for law d￿￿95, ts TnBtees ￿Jertake intemal reviews oflhek effeC￿VenesS as a eoanj to ￿nts"fy ￿a5 l¢xwnprovThnt. Foknng Ihe 2021 iThJependent revlew by Cr￿. an actit* pL4n to ènharts B03rd elfecliveress was kwc4j￿ed and acttons this track¢d. All Tmstees gNe thor Imo fr• arnj T￿j$￿& r•wThrntion in the year. Dela15 of Trustees, expenses and r818ted party tran￿lI)n$ are di$dLE￿ in note 7 and 25to the fin￿ry81 Stat￿Tren1$. Trustees are asked toconfirm any conllcts of interest al each Meets.￿ a￿1 ￿ parb¢￿al •*h Trustee has confinnod that they have no ￿J￿fl1d of interest and ¥AII Th)¢ be pernonally be￿fittiNJ rrt)cialy from sabè of the knety's property a$sets. During ￿ year under Ihg Trustges [1￿1 six bmes. Tr Tnffjtees of lh& chanty V+t¥) warn in offie• during th8 year ￿K1 up to the date ol s¥JthJ lh8 fmrKla Statem￿ are as Sh￿ on page 14. Equal opportunlths The Society is an equal employer is tx*TrINtw to w(¥)v)ting ￿al 0￿UnitY for all employees a￿1 vdunteers. The Society LI￿ not discrnninate aja1￿1 on Ihe basrs gf Ihgir ag?. dis**ty. 98rv*r, sexual orfenlati¢M. gender rea5sigr￿ent. ar*J m*rrwty. r￿*, religion ￿ trdief. applt*ions ts *wAoywl or ty thsabw p¥wi$ •r¢ #lway3 fvlty considered. bearing in m￿d the ￿SPeCtive aplibjdes ar￿ *Jlili&s of appkanteontÈmed. kn evenlof empbyees becoming dlsablwj. all feasonaUè eff¢)rts #Tr made to en5we Ihat Ilw erryWment hytlin Ihe S￿ty cortinues, induding enjoyi￿ Ihe samg career de¥eknpwt Pr[￿￿j&C￿ OFvNlurNi*s and IraThYYJ. Ernployee èngagement The s(￿￿ety's ernployees are key to ts SL*)xss aThJ il ts liw￿l*ll IJ￿t they aro engaged wilh the chority and its aCtM￿e8 on a fom)al inlonnal basis. As pat of progrtmmè, ¢warlwty'AI S￿ff meetings are ￿ld. *there th8 ExecutNe T•am present on th• p*lomwnc* oflhè StrAèty and any olher Inforn￿brffi tw feel empkjyees should L made aw8re of. ErnF4oyee5 are encwraged lo ask ro￿1￿)nS at these ￿￿et￿j$. In *JdilKJn. as part of tsguLar Cr￿￿u11ati0n ￿th eTrWoyees and erKowagry enyknye• part10pa￿l. ExwJtiv• Board mernbers mÈl w*lh a Stsff Forum on a ny)nlhly bags. On a inforrnal basts. a regutar n8W51elter is circulaied regulw update meetings C￿ animal species conservatK)n pro1￿ are provKled ts those wsh lo ￿te￿I. Investment powers, policy and performanc• Investment are pv8m8d by the melT￿￿n aThJ Axbdes of the Soo"ety. wtrKh pennit the funds to ba inve51ed in Ihe Manr￿ sh¢y•n in note 10 to fina)cial slat•merts. Se4i•ty does not cLWren￿Y have any f￿d$ held in investr￿1 lunds. Asset ¢over for funds Note 18 to Ihe fir0￿la1 slatemenls sets an of th• assots attritrMJtaN8 to th8 r8slriEted. des*Jnaled unfestrict•41 funds. Th￿ ass•ts*e sufknnt ￿meet ￿1th￿ S(¥a¢￿s rtrftrjai￿ in wpecl ofeach thjrvidual fund. Flxed assets The movements *) fixed assets Ih• yèar¥• s•1 out Mi 9 10 fin￿￿81 st•lernents. Th8 lreehokl and at CSfton wue revaknd al 30 Sewts 2013. Th• fr￿￿1 land •nd buhJry$ HolyW￿)￿ T¢y•M Estale re¥ahJed as at 21 23 Dawd Esam- Chw'r ol Trusieos Ir(¥n 22 IAay 2023 Victona Ash Christopher Booy OBE Sarah F￿ler Peathès Golding OBE CSU Andrew Martyn-trthns Dr J￿e Smarl PrOf￿80r Judiih Swwes- nrXnw￿ted by lh¢ Urw¥w5ity 016ri51LI. Professor Stèv4n Wèsl-nmlwled by the thTh¥wsrfy of Ihe West of ErvJarKI Emma Woolkd 14 Bristol, Clifton and West of England Zoological Soclety Limited Report of the Trustees (contlnued) Membershlp ol Commltt•es C". Ch M. Memt Flnattce, Ri•k •h Board of *•Jdlt P•opt• nBZ Project Board Brlslol Zoo Ent•rprls•$ Ltd Trust•es In8Z P81 Bot*d olilir•etorn Ictor• Ash chris1￿ Bc•iy. .. Sarah Ful P¥a¢hes Goklry.. Andiew Martyn-m Dr Jane Smart PrOtJ￿ith Sww&s Prof swen W¢8t EThna Wmtslt Employe•s DrJusun K•lty Ew 8nan Zmrrwman Francexa Fryer. Jonathan Tmrw_.. __ HanrL4h WtrMlrLry8 oth•rn I￿￿1M M*sh#ll Mthn Whrfe CharVJll• klgw The Twstees lor the Bristol ZTh) Retren￿1 and Death 6*￿fil sch￿ p￿s￿)n schgme Ix)mpri5e of Prolessor Rob Cuthbert (Chairl, Fl"chaid c￿rke. Wliam Marshal. Le￿ Calbghan. &mon Garretl lemployee representatNel and Phihp Jearey lempbyee ￿preSentst￿eI. Andrew Mty). Jthns, thjstwi Mtinis. Kelly EvanB (replaced An9e Malherl also atte￿ thè m¢•tiry as ¢mr+)y¢r rekyesentsiwes. 15 Bristol, Clifton and West of England Zoological Society Limited Report of the Trustses (contlnued) Chief Exocutivo Dr Juslin Morrls Executlve Team An￿a M31her Kgly Evan5 CAffjctwof C(Ywate ServKes. resgned 31 AL4USt 2023 Direct￿ of armj SciE￿e Dirn¢￿ of Eslaies 18 A￿l￿t 2023 recior ol Eslat6s apFWted 7 2023 Co￿￿1 Dreclor res￿￿ 4 June 2023 DIred￿ ol People & PuL*c Engagunenl Francesca Fryer Jonalhan Twnney Michaèl Coe Hanr￿ Windross Company So(xetsry Justin Wrr,s Registered address Advisers Sollcltoys Osbome Clarke 2 Templè W Easi. T￿pIe Quay Bnstol, BSI 6EG Bankers HSBC Bank pk 3 Templè auay Bristol, BS1 6DZ lrndopendent Atmlltors Moorè Chartered Aetouniants ald ststlilcrfyA￿1ty$ 30 Gay Street Balh. 8A12PA Bri3lL4, Chfton and West of Ergw ZO(409¢￿ soty.èty Limted Ilhe 'Scr4ety'l is a company Iwnit•d by shares. The conwny rggi$tration nUTTthiis $1S4176 and it Isre9Stèred as a th￿lty England &Wal8s, chariy number 1104988. Bristol. Cllfton and West ol England Zoological Soclety LlmSted Report ot the Trugtee8 (continued) Stalement of Tru8te•s' reSponsU￿1It108 Tho TNst••s •r• also Orfeclors ol Brnknl. and W8st ol sO¢￿ty Limilod loi the PUfP)ses ol wnwany lawl wespJn8ibfe lor weparing thg Re￿rt (4 Tn*lees, I￿￿111g the StrateLW R8POrt. and th8 f￿￿[al slat•ff*nts in accothKe wilh Jaw and I￿￿•d Klnydom Star>Jar(ts (Uniled n￿1(th Ge￿WalY *xcoth1 ACCO￿ting Pr￿￿1. Company law requires Ihe TnAt••s to prepare Stalw￿ forexh fimncaal yw. •)d lak ew ol Ihe stata.o1￿Ifa￿ ol lh¢ ¢hartable w) ar￿ of Ihe wwning rosouw and applicalKJn of resour￿8. vthi(kng Ihg irwrn? and expgth. tharilable syoup lor Il%it p8itod. In Pfepamg these Ilnanctsl obsewe ihe methods aThJ prnxiples in the SORP. make I￿*nts èslimalos Ihal arè rnasonablo •TrJ $i•ttr whthr AppI￿#bI• UK Stsndard5 have tolowed, to malerAI ityrtures prtyawe Ihe stalwn8rts bt is lo preswne Ihg ¢h•iilabf• ¢onwany Contin￿ in txw*¥. dm• ihè posibon of chari1th8 to 8fts￿O thai finarKkg1 stalements c￿￿[￿ with Ctyry•nw *£t ￿. They are also lor salewarrfry the assets of Ihe charitable ¢ompary and ihe gnxy and hence lor taiThJ rnasonth st4is *x th• lXthwb¢￿ d818eim ol fra￿￿ and othgr ing9ylaril•s. In w lar as thè thoffj is no rnlevant awjt irform*tK)n of Chartab￿ authlor ¢s un4warg'. arml Tnjst￿s ha￿ taken all st•ps lh* #vrf ha%* t*en ￿ makg ol any reknnt audi The Tntstees am rnSPLWb5th lor lh6 ol th• cowptsrnts and fwwvAI ithmal•)n ￿1￿l￿d on ¢he Souetys website. Legslthon in Ihe Kingthm g)vemJ the th8seminathon of linarK statemerts May dllef liom legislakn in 0thwjur1sthc￿. David Esam 13 IAay W24 17 Independent Auditor's Report to the Trustees and Members of Bristol, Clifton and West of England Zoological Society Llmlted Independent Auditofs Report o￿nIt?￿ We have au(fil¢d lh8 fi￿cial Statements ol Bth￿. Cllfkin and West of Engl*J Zooio9ical Sooety Limited (the '¢harfjtaYe comwy'l fv)r Ih? y ￿￿ed 31 Oecethr 2023 corrprse the c￿$¢&dated sta￿M•nI of finanrial aclbwbes. Consohdated and ckntable comp￿$ Bal*Ke Sheel. Consolthjated cash flTh slateftwnt and Th)tes lo the fiMnoal Stale￿￿￿ts. fftdu¢Jng a ol sigrwfKant act￿n￿ng pothoes. Th& finawal reporting fra[T￿Ork that h• been applied In t￿"¥ preparation is apptK*)le lawand United KwwJdLNn Accounb"ng &andards. ir￿lUding FRS 102 "The Finanaal Reportn9 sla￿lar£I applcatle m ltr* UKand Repubbc oflrelan(r (Unrted Ki￿dern G￿erallY Accepted A1X￿n￿ng Pracb"cel. In c￿T0[AnIOn Ihe statemen&. ve a true aKI fair View ol Ihe sla¢e ofthe gr￿P.5 th• dwtatAe company's affairs 31 Decemi%r 2023 and of th• 9￿P.$ incoring reswces and appkati￿ dr850urces. Inclithg rts irwmg and expgndrture, forth¢ year Ih8n ended.. hav8 be￿ praptrly wep*ed In act￿￿￿e Urth Gewaly Attewed Accounting Practw.. Ond have kxepared in wilh Ihe c4 b)e Act2￿6 and th• Chaiities Act 2011. 8•515 fot oplnlon We conducted tyjr authlin acOXda￿ International slabja￿S on A￿)￿r￿j IUKI IISAS IVKII and applcable law. Our resPO￿￿'11bos uThJw Ihose stsndards are fvther descrtjed in Il* AtwJitNs responsibil￿e3 for the au(h'l of tl financial slatements s8d¥on d tyJr r•wt. We are ￿tsper￿Jenl of the thanlable cornpany in accordance wth the eth￿￿1 req￿reMentS Ihal are reknni to ow audit of Ihe ffnanoal Stalernenls irF Ihe UK. induding the FRC'S Elhi¢al arKJard. and ￿ havelLAfiled ouretsxcal reSpOn￿lI￿e$ In e￿Or￿ar￿e wth th95e requirèments. We belleve that the Jdit •¥Klenc• ￿ have obtsined 1$ aThJ approwiale to prtr4Kle a basis for audk opinion. Concluslons r•kntlng 10 golng ¢ryiwTr In ￿dIb"ng Ihe financial slatL*nenis. we have Cr￿d￿jed Ihatth• useol ts9)ing concem ba¥isofaCc￿ntlng in the prepzr8bon ol the [ma￿￿al Statem￿1$ is 4)rKowiat8. Based on Ihe wowk have p•rfmd. have not Kjentiled any matenal unCerta￿lIeS relatiThJ to evenls or conditions that iThth"vKlualty or collectivety. may Cast sy¥fta)I drxjbt cffi Ihe Companls abilty lo continue as a 9oln9 eoncsm for a ol al leas1 rrnnlhs frL¥n the ￿an(￿al ststements aulhori5gd for i5SUO. responsibilibes aThJ Ihè re¥￿si￿a￿S ollhe (threctLwsMth re$￿t lo ￿nt￿M ara d8sert)ed in ￿ ￿leVant sèctions of this rw. Other infr>rmation Trustee5 are resp¢Mible otsr InformalK)n. Thè oth•r informat￿n cryi8￿ ts knlrArn8tion i￿luded in tt* annual report. ¢)tt* th￿ the financ￿ Sta￿￿t$ and auditor's report therec￿. Our otxnion on the f￿*1¢ Stat￿entS d085 not infom)abM &ThJ. e¥ceN lo ts exlent othernise exphu.tty staled in our report. we do Th)1 exp￿$$ any foryn of assurance LI)￿JuS￿ thereon. In ¢onn•cb<)n wth (wr •Jdit of the financi* statements. our respvthsi)i&ty is to read Ihe Ot￿r infornotion and. in dThng so. consider whèthor th• Olh•r inlormabon is materialy iwwnsi5t8nt %wth the f￿ntial stsiemenls or our knovA8d9e oblwned in the a￿"1 or 01t￿lse appears to b8 materi*ty rri5StatwJ. If lde￿"fy ThOler￿ ￿￿￿)nsiStenc1e5 or apparent material risststwn8nts. w& we req￿le0 to detemiine wthelher Ih8ro ts a matèrial misstatement in the financial statements CK a rnatgral msslatemwlof Ihe Dther infom1a￿n. If. b8s8d on the vthwe hav• p*fomied. conclude thal Is a malenal ￿￿$Statem¢￿t of thts ¢)Ihtr inlormaiKJn. we requir8d to r8POrt that fa¢L W8 have WKAhing b) ￿l￿t In rewd. Oplnion• on oth•f matt•rs pYMcrlb•d by the Conyanies Act 2( In ow opinion, based on th8 work thdertaken ￿ Ihe cwrse ol the audit.. Ihe infom1al￿n 9iven in thè Strdtègic Report aThJ Report ol the Truste85 for fin*eo1 y•ar which the finaneia slatements are wepared is conssient wth the financial slatements.. and the Strategc RepThl a￿1 Ihe RetKxt ol ts Tntst•ès hab* arxordance wfth applicaL4è ￿al r8q￿reM8nts. Independent Audltorfs Report to the Trustees and Members of Bristol. Clifton and West of England Zoological Soclety Llmlted (continued) Mthrs on whkh w• ¥• r•qulr•d ts> ¥•wt by•xwl In the b3ht ol the and under51¥* of Ihe thwitabb Ihe Pa￿nI rtsitable cx)mpany and rts environm￿1 ob1al￿d in Ihe Course of Ihe •JJ*. ￿ haw idert(*J maknial nwsslateTr*nts In Strat89￿ t•wrt or the reporl of the Trustees. Wè have noif*ig to in rospect ol thè mattots the Crywi&s Act 2006 ar*1 th? Charithes A 2011 wwres us lo rewt kn yw IF. ￿ our wrw". adequate antj suffi0"￿t accowting recNds have r#)1 b88n k8pL w r•DJms ad•4ual• hjr our hav8 not been recawe(l frcffi brarth5 visited by ￿., or thè f¥M￿al statern8rts are in ayee￿I *ilh Ihe rw)yds arKI ¥ettJm$', or tain thscknsures ofTrustees' ￿M￿nera￿(M y(ified by law a￿ Th)t made: or we ha￿ not rece11￿￿ all the thatic*) ar¥J eyplanattons we rewre for our atyjit. R•sponsibllitlos of Tru* As extAwed m¢xe fvlly in the Trusl8es' reSPC￿lbth$ Stalement set on page 17. th8 Twsiees arn regponsibl for the p￿para￿On of the finanual ststements and lor b￿n9 salls￿￿ Ihal Ihey gwe a In￿ ar￿ fair ¥￿w, aThJ for such internal control as Ihe Trustees deterr1￿e bs n8c8s5ary to enabk the pryalion ol finarKial 8talemgnts Ihat are free from material misslatemrt ¥th8thef due lo fwd or In p￿paring finaThial Stat￿ents, Trustees we ￿e$F￿￿ble assessing Ihe clbaritable comparf5 alxlty to conlinuè as a wng Coneérn, th"sclosng, as appkcablè. mat18rs rèlaled Io g)ry ccfTrcem using the 90ing concem basis ol accounti￿ unl￿S the Truste88 eilh8r ￿tend ID IKIE*Jat8 tha thwitstde t¥ lo cease cy8rath)ns, or have no realistic attemalNe but to do so. Audltorf• rMponslblllll•s for th• ￿dI1 of th• slat•m• I￿r objectives are to obtw rea%)nalrf8 asswance atwt ¥•hth8r Ihe fm8nryal $18tements as a whol& are free from meterial misstslwnent, thther due lo fra￿j crf eTh￿, to issue an auithior's ret#yl thal includes our opinion. Reasonabl8 assurance is a high level of assurarth. t￿¢ 6 nota guarartee that an a¢Jdit cond¢Jcted on accorflance with ISAS IUKI always detect a malerial misstalement v￿￿n il exists. Misslatements e• aris¢ from fraud or error aThJ are considered rnater￿ rf. IndM(kJally or in the aggregale. they c•xJld reasonably b8 •xpected to inlhjench th• &coMmic deCis￿n$ of users taken ty) ts ba￿ of fin￿la1 sla1￿8nts. lNeg￿all￿e$. induth.ng fraud, ar• instartss of v*th law5 and r8wlalbJn5. We d85ign w￿0￿UreS Ilne With our respcfiybilitie5, Qutkned at*Jv?. io dgtect rnateiial rnisslatem8nls in resp8Ct of irregu￿rities. indLkling fraud. The extenl to whth our proce(*Jres a￿ capable of deleclThJ 1r￿g￿l￿"eS, inchxling traud Trs detailed bebw." Ewanatlon as to what •xt•nt th• audtt Twas con51d•r•d c•pablp ol d•t•cttng irf•yularltlo5, In¢ludlng fr*yd The c*'8efvas of ow ￿dI1 *) r•spod ol fra￿1. ¥•". to bJ•niify ar•J ass•ss thè risks of mèterial rnisststem8nt of the fina￿￿ slalernents to fraud.. to su￿￿1 wwiaie a￿lIt e￿dence ￿gardIng the assessed risks of malerial misstatement due to fra￿J, thro￿ desNyHrvJ and inpWr￿ing appropriat• r•sponsès to those ass8ssad risks: *KI to resFK)nd apwowialely to inSla￿e5 of IraKJ or 5U5F4ded iden￿￿d durir¥J Ihe audit. kh)wever, the primary Tes￿$1b111ty lor the p￿vents￿ of frwl fests wth tKJth managemenl and Ihose charyed wth govwnance ol the tharilable ¢￿pany. ChJr appwach was as Idknws.. Wè obtainèd an under518ndThJ ofth8 lega ￿￿1 Keguktrry t8wnm8nts a￿k￿le lo ts charitable company and considered that the rrK)st swfficant are the Companwd Act UK finan(4al repoiiry slandards as issued ty the Finw¢Aal Reportsng Council. and Il* Charil*s kn12011. W• obtainèd an undetsknding of the charilabk company Mith Ih85¢ rewKem¥nts by discu5$KJ￿8 ¥￿th rnanage￿￿nI and Ihose tharyed wtth g)vernwce. We assessed Ihe risk of material misstslement of the finan¢pl slatamenls. ir¢luding Ihe risk ol material misstatement due lo Iraud awwj t￿1 ¢xox. lry hd¢fwvJ ￿￿￿55Th5 Wrth maww98ment and th￿9 charg8d ¥￿th govemance. We inquired ol managem&)l and tIKJse chtrged with as to any Instanc•s ol nl￿-t0Mp1SwIeO Based an thi5 ￿derstand￿9. we deS￿¥￿d wcyriate audit procedures to hl8ntfy ￿sta￿e$ of n￿. complkgnce with la￿ and regulation& This makThJ wwies of manag8m8nl t4)d Ihose charged vAlh go¥emance and rtjlaining &Ythbty)al corroborative e¥¥Jence as require(J. As part ol an audK in Accordar￿ V•ith ISA5 IUKI. &xarci5e prDfessKywl judgement ￿1 rnain18in professional sceptK#sm Ihr(rtJghwl the auth"l. We also: ldenb.fy anL1 assess the risks of material mtsstatement of the statements. whether due lo fraud or error. design and pèrfom a￿￿"t pnJc8dur•s r+swisive 10 thos• risks. obtain audii èvidencè that is guffiei•ni and ap5wopiiatè to prowdè 8 basis for our tiwbjn. Thè r￿k ol Mt dètécting a maleti81 mis518tem8nt resulting from fraud is higher th￿ kw one resullry effor. as Iraud may i)vofve cthlusion. forgèry. intèntional omisS￿n$. misreprwontations. or th• ovatyidè of Mitemd ctmtrd. Obiain an urKl8rstanding of intèma cortrd rekniant to th¥ li tyd¢r to d￿19n •￿j11 w¢¢odures Ihat 8r¢ 19 Independent Auditof s Report to the Trustees and Members of Bristol, Clifton and West of England Zoological Society Llmited (conlinued) approwiate in Ihe ￿T￿M$tart•s. but tr* pwposes of expressrwJ an on Ihe Btfecbveness of Ihe chartsble comparry's rtemal crmtrol. Evalwate the aFwpriaieness of accounlirwj rnasonthness of xo)untsng e8￿MateS and r•lat8d disd05ur85 fTwle by the Trustees. CO￿u￿e on the apwopnateness of the Tntst88g' of lh• w.ng conc*m ba%s of acccwlirg and, based on 8uthi cknt•ned. Yth8ther a material wKerfainty exi51s relaled lo events or condiltjns that may cast s¥J￿r￿an1￿¢xJbloTh the chaniablè eeffipany's to corttnue as a going corKem. llwec￿C￿de that a material uncertainty exisb. ￿ are required to draw 8ttwiw)n in w authlW'S re￿ lo the ￿lated disdosurgs ￿ the rinancol statements w. ifsuch d48cknures are ￿. lo 0[￿nN￿l. Our concltsws arg basgd on th8 audit8¥hlence obiaThd up lo Ihedale of￿1&￿1￿*￿.s rem H¢yApver, luture even15 L¥condltKJnsmaycause the charitabk r￿MpanY io cease to CCffjipK* as a gc4ThJ ¢0￿m. Evaluate the 0￿ra11 preswlation. strucbse and contentof the financvlslaiements, I[￿￿￿n9 the discbsures, and twhether the fiwcwl slatemenls rewew)t Ihe ￿JedY￿yj If￿s￿￿9 and events 6n a ￿nTr8r Ihat ach￿Ve5 fair presental*)n. W• communicate with trose L*w9ed ¥￿th Y￿eMarKe regarth"ng. arnng olh•r mall•rs. th• planned $w¥g and timing of Iha and Sw￿￿an1 audit fi￿$. any swJThkant deffic*we$ •) Intemal ccffitrol thal we 18nttfy Alurtherdescriptionolw responthlltie5 forthewJStof ttwfHw￿lll slatemenb is kxaled on Ihe Finanoal Reportirtg Counc4$ webgta al.. vAw.frC.¢)rg.uk1a￿1lr￿eS￿￿*I*￿. This L1esuytson frjrns part ofour wJdW$ rèport of our r•port This repmyl i% made s(Yety to the chanlable ¢rynparys as a btsyy. in aCcOrdar￿ ￿1￿ Chapter 3 of Part 16 ol ¢he Cwnpani85 Aci 2(￿6 ar￿ to Ihe charity"s Trthstee5. as a t)rAty. ￿ act￿￿#￿¢• ￿th chap￿ 3 01 Part 8 01 the Chartes Act 2011 and re9da￿On5 made uwwjw Secti￿ 1S4 of Ihat Act. CAJr work has Lwn uNJertak•n so that we might slate io the thartsble L*￿PanY s mèrrt￿ *)d tr* charty's Trnstees Ihose matter5we are requirèd to state b) them in ￿ wditrx's re[￿ and lor no otrh•r pur￿. To the extent permitted by law. we do nDt accept or assume r•spon&bilty to anyone othw than Ihe dwtsble compaDy. Ihe charitabkn Conw￿.$ membeTr as a body, and its T￿$￿•S as a body. wr wjit *ryk. tlws ￿pOrt. or (yknions we have fomied. IZ Fw on Watfof Moore, Statutory Authtor 30 Gay Slreel Bath 8A1 2PA Mwe i8 elv•trAe to act a¥ an ￿MIliorIn tewms of seclby) 1212 ofth• C(ryams Ad 2(*)6 Bristol, Clifton and West of England Zoological Soclety Llmlted Consolidated statement of fin￿cial activities (Including the consolidated income and expenditure account) For the year ended 31 Decembw 2023 Totsl 2023 Tolal 2Q22 219 219 com8 Irom xri¥I188. 21a) ZooPrg"ed {hJrm8ty V+lhJ p￿ fvcixii 3.787 5,JB7 2.816 302 518 1.629 Irwestfflenl ￿Come 67 67 37 Exp•nthturn Funthsn9 c￿M8r£￿ op•vati 495 275 301 1.301 27 37 1.613 nditur¢ BrigIotZ￿ Gardens 2.647 2.847 8.342 Bnstolzw Prwi IfTh1y v￿ld P￿¢? Prt4*11 S,542 1.157 Tgtal qx ditur• 10.169 14.297 OS8esll9ain8 .fX31 1.573 12,5101 13.5841 (2,3721 . und•rt N8lgJmslilos88slon assetdsptya 9,467 10 132 N•t l•xp•ndltur•yln¢om• fvrlh• y 1.573 6.931 13.7161 t*ts¥een fvrth 126 11261 C4hw reco￿￿j g*r*lO£swl. (h)55051¥arf￿ ￿ defmd benefa pern 19 19 67 N•t movern•nt in funth 3,783 Tolal lurkI5 br 38.781 43.049 Total lorwlrd 1J32 39.266 21 Bristol, Clifton and West of England Zoological Society Umlted Balance sheets at 31 December 2023 Registered company number - 5154176 Soddy 2tr22 41*13 41.SYS 4IMI3 41.535 io 767 717 767 Tot•1 Ilxqd Mll•l• 42 Inv•5trW 10 12 259 C•sh all•￿•￿11n h 1.979 CMd*sn' lallludu•T*IINn w y• Il•t ¢wr•nl 114bMhh• (3.5091 12071 40,687 Cw•thtorA: ith.ng dts8 all81 ye81 P48t &$$•ts •x¢MTrJkng 08ffiW b￿ellI 14 L2,296) 38.71x1 {22961 391 45.631 .441 19 J70 370 001 15 Ilnr••trkl•d ID¢0mè hrmd& Dosigrnaled fund5 Olh¢r unre81rfct￿ lurvjs 16 39.649 44581 39.649 16 (1.7431. *21S 19 370 37Q Tot•1 uthr•*trl¢knd •ft•rpw.lon M••t 38.781 43.•79 98.472 17 Totsl chwlty luNI• The Sociely has tak•n exeryii(ffi fry)m pr8sentwTrg its nthidual wlit 8ThJ hJ5s &count under sethon 408 01 the Companies Acl 20(*. amOW￿ of net incorne for the year deatt with i) Soci&ly"s enlty-orly hnAnclal statements is £6,$28.OW {2022.' net e¥￿e £3.89).(KQl. on rfs ￿h81 by. Da¥id Esam The not¢$ on pages 24 10 45 Iwm part ol lh8 ffinarthl stalwrwts. Bristol, Clifton and West of England Zoologlcal Society Limited Consolidated cash flow statement For the year ended 31 December 2023 2023 2022 In Ca•h trom Invwlkv4 a¢¢l¥*l￿. P,108) 1.313 13,5841 10.4QS 14•t exh Repayments of borrv4 657) N•t u¥h us•d I 2.170 12.1751 2,525 C85h and c88h t ofty 350 Tot￿ cash and cash Ivalwts •t th• •nd￿th0 21 £'o•o 520 Nel ¢uh The rrt)los on pffj85 24 tO45f¢xMp￿ rfthe Sl*eiwts. Bristol, Clifton and West of England Zoological Society Limited Notes to the financial statements For the year ended 31 December 2023 Sorjgty is a ct¥npany hn*d by shwes. Thè eompa)y wistrab.on rrtKnber is 5154176 and rt i8 regtsterod 08 # chaity in Erwjland & Wales. tharity rnHnber 1104986. w)L*Jde in the fwncial Slaterne￿$ are rounded to lh8 nearest pound. Prlncipal accounilng pollcles The finanoal stslements have been wewed ffj actt*dancewMth A¢countiF¥J and by Chariiies.. Sta18￿￿nI of Recornmended Praclti apphcabk lo chait*S prèparing their fwnctal statements In acctrdance with the Finantsal Reporting Standard applica￿e ￿ the IM arKI Repubk of IreiaThJ IFRS 1021 l¢lf¢ctive 1 J3nuary 20191 . (Charilies SORP IFRS 10211, lh8 FI￿claI Rep)ItiNJ appkat4e in the UK and Republc of Ireland IFRS 102) and the CLwY¥)anies Act 2006. The Sooety meets the of a pubk bEnefil entity LA)d8r FRS 102. Assèts and liats"Il*es ar• Initolly recogrused at hi$lorical cost or tranS￿l￿)n unkn$$ otharnise slated ￿ the rthvant aco)unllng pd Jt8($1. BJs1$ of consdidati¢)n The cOnsob￿ated statorr*nt of fin￿traI actwtrs. lh8 bth0￿ knt and Ihe CLvtsolldated cash flow 5talemenl include the fin8nraal statéments ol the Sooety aid rts 5ubsKYiary undertak*vas mad? up to 31 Dgcewt4)er 2022, v5ing Ihe acquisit￿n meth¢xl of actoMtiwJ. lthifrym aCwn1w￿ wAi¢ies a￿ aprw throughout thè 9roup. Inira group tranSa￿.0nS and Fwofits a￿ el￿r￿aled lulyon conso&dat*on. The So¢iety'5 Sha￿ ofthe net incoTh*, its sharè of the net assets, of Nattwal Ftstory Cons¢ytwm lof whmch the S(*iety % a on84hird men*¢rl have not been ￿￿ded as Ihey do rKJl have a material eff￿1 on the financi* state￿ts L4 ￿ Sockty. Pr•yratlon ol th• aKounts on a gokng ¢o•Kem bo$19. Thg Society reported a ¢ash 01 £2.170.((4) for yew. As a collStqu•nc& olthe corcmavyus pande￿ ￿K1 Ihe lossol Income aTrJ ¢ash re5uKlng from the ¢knsu￿ of bolh sit8S uring 2021 and 2020. Trustees kxjl ￿10 p*e vari(NJ5 ffEasuw io erwre Ihg Society ¢￿￿j contirwe as a going concern. These measures inc*Jded cosl sawrpJ nwswes ¥KI strategy Io s8cur• Sociely's bng tèm) fulw8. This strategy Ihe sakn of Brolcl Zoo G¥dsns ￿ cther wopertw. to help fund Ihe devel?￿nI ol the pew Bnstol Zw aThl its Nwestment in C￿$￿at￿On a¢lMkn•S. In *JJ"t1￿. long term fiJThlmg has been agieed with HSBC ￿￿k pl¢ ¢ompn*ng ol a £15m revofvw cre(lit lacthty ￿ 3 £0.5m over4Yraft Witr these facffjties in pLqce. lh8 Trust￿$ ale of the ybew Ihat based on the 10￿CasI$ for Ihe ￿xI 12 rTh)nths. th• bank facal.'ties. thè exk*cted ￿eedS from dsposal of kwerty and cash rg5gN85 a¥￿lable wll be suffKient to cover arty short to modwjm tèmi cash rewireffwts. atml Ihal th￿ basis the So¢igly 1$ a wng tthcem. Funcllrmal cwrency The Soriety's funclwl presenlalm￿ the rmwnd sterliNJ. Don•llons arml hgaeles Donations and legaut$ are credited lo revenue on a reCe￿a￿ basis. F(K l¢ga¢i8s, entstl8ment is laken as the earfier of thÈ date on whKh eith•r th• chanty is Wdre Ihal prdJate ha$ been granted. the èstsiè has been finaEgd and nokn.f￿a￿.on has been made by lh• •xecuWsl Ihat a d￿tribu￿n wil be made, or when a distribuknon Is i•¢￿Ved Irom the •staio. R￿1p1 of a bgw. in wlK4e or in part. is On￿ probable ￿eft the ￿Unt b8 mè8sur8d reliably and th• charty has been not￿led 01 th8 exeujlor's inlention to makè a thstnbub"on. Where legarjes have betrn nolffie*ar then an affi￿1 ￿lats"n9 to the subsequent pèri(￿ is defgrred within c￿lI0r9 as 8¢wols athj 24 Brfstol, Clifton and West of England Zoologlcal Soclety Limited Notes to the financial statements For the year ended 31 December 2023 Prlnclpal a¢¢ountlng pollcles {contlnued) Grnnts I￿a￿abl• Income from govemwl and othergrants. w1￿.￿rtar W￿.. is rgojgnwl w￿n the charity has •nbl18m8nt io Ihe knds. any p&lomiance coThth"tsons attached lo the gTrnts hov8 bw rnel. it is wobabK• that the Irthme *il be received aThJ the athjunt ￿ bè rnea5wed rekabty i8 not deferred. R￿1￿1 InMm• IncL)))e from f6nt•fJ pro￿￿]•$ is rneognks8d in the wmch ts ￿t is due. fr(￿ office leltings is defe￿ed irwme. T4bvJlblo fix•d •s•ots. d0￿CIatIOn ONI lrywtrrn•nl Freehokl land and tW￿l￿J$ were pre￿￿ty revahmj e¥w fv8 yearsby a s￿18￿* qk￿lf￿￿ knxlependenl vak4er. Th8 land and IxJiklin9s at aiftm stated atfr)e*vkn as re￿￿ed ￿ the f￿a￿k￿l Ststerwts 4$ at 1 January 2014. Land and ji1diTh>at￿ FknIyKKMITo￿rE51atQ￿e Sla￿ attsvak*incamed LWta121 n phase oflhese 5tsategies. Costs nBZ are bery cArMtal6ed wilhin the cost of the i*r4ect {where appmpriat8 to do Sol. Costs of Trusrèe govemance afv £48.00012022". £54,IXN)l arKI ￿$ts oflhe leadeTslKJ team lOsuppc￿t Trustee discus51￿S are £7,00012022." £161.0001. For dantstson are no paywits made diredty to Trustees and they ¢*J not personally f￿an￿aNY efii from any ol the prETwty 1rnisacl￿ twl Lbxs i￿ude £l.OKI 120Z2". t276) of re*nburnemenl ol Trustee Brlstol, Clifton and West of England Zoological Society Llmlled Notos to the financial statements For the year ended 31 December 2023 expenses. Net Incomel{expendlture) 2023 2022 £'ooo £'ooo Ngl lèXpenthlure￿rKC*r￿ for ts year is staled after thrwWI(x&XNJl: Cweraling kase Paym￿ Planc ma¢hintyy ar•J ¥th 0•p￿￿4th)n and wnpairnent Loss on di%[￿al of currert assei *)besl TnJstee Ind8mnity in>Jrance Auditots, r8MuMra￿0n for. 10 1.640 15 32 Audit semces ISLW. £15.1thJ12022". £75.1￿}} 19 19 Otther $ertes-taxatk￿ aThJ o Thg Otherserbi￿$ represents VAT. Anatysls of staff costs 2023 Number 2022 Nurnb?r The average rtwnthty heaLI CA)unl was 147 staff12022. 213 slaff). The aver*Je onthly number ol lul ￿"m& (lurirg th? year Ggn?ra¢ing vokntsry In￿Me Bristol zC￿ Gwdens 15 71 Bristol ZrKJ Proi8Ct IformertyWW Pkne Prcyert) Cornme￿181 Irading Conswvabon & rese￿ 81 12 19 11 41 130 181 1023 20Z2 £'ODO Wages aThJ salaiies Social se¢JJrfty costs ContnbLthns to defined ¢￿tribU￿(￿ pernS[(￿ (see 19) Death4n4eNce tr￿efits aThJ 4.210 422 5,026 $47 141 14 10 4.787 5.751 £108,735 ol the stsff eosts hab* boon capjialstd wi tht ytsr12022." IMI). Indud8d in Ihe wages ￿￿1 sabries ¢XJSt in 2023 was-£4.020 ¥tsh rewesentsd reduThJancy costs ILV 2023 adjusted for ￿ amcwnl ac%ru&J *) 2022 trtrt *T6tten back th to ￿k)y￿nI b8ry taken ￿.12022.. £390.0001. 31 Bristol. Clifton and West of England Zoological Society Llmlted Notes to the financial ststements For the year ended 31 December 2023 Anatysls of staff eosts leontlnuod) 2023 Nurnbor 2022 Number £80.001 - £70.(MXI £70.001-£80.(XKI £80.1)01- £9),000 t90.￿1 - £1￿.0c E130.001 . £140.0( A s*ry •xc*ange arrang￿nent was ntr(MkKed in 3)15 kK￿nber5 (4 the Ex￿Ul￿ B03rt1 and 5chenw was mad¥ availatA8 k) all staff from May 20fJ. The eM¢kn￿ts satsrw wfic*d. CL¥rtrbuts"ons ot £37.76S12022.. £22.1611 No fruslee received any remun¢ral#)n frcffi lh* SC¢wd￿ry Iheyw 12022". £nill. e1.030 was re1ML￿r5ed toTrustees for oul of p(K*el expenses relati￿ to tra￿ aThJ ac&￿n￿tron to att￿d mwiws12022." £2761. No expgnses wère paKI lor or on behaff ol Trustees12022". £nl). No recavéd payment ts professh)nal w other Servic￿ ¥UPF4ie to the Stitsaty12022". Enill. The Board of Twstse5. who are Ihe soc￿5 IJTe¢lw. ￿ the S8nior Manag8ment Team eomprise the key management personnel of the Sock8ty Isee page 3). total ol empbyee beneffts of key rTranagtmènt porsonnd was £583.600 12022.. £617.(KM)l. The deryew r•lloeis lh• r*knlion in the nuntsr of meml)ers ol the Executive towards the erKJ of the year. Th8 knety pays thè w•miuYs t¥) b•harf ol TrLslees m respect of Dyedors ￿ Offi(￿5 msuranee. The premium paid in 2023 was £31.231 12022.. £32.2￿1. P•nsw contrit1Jl￿nS wtslarKlry at t1￿ year-gwKI wwe É28,05612022: £nl}. Taxallon The pa￿nt Comp￿ is a (tsnty. as SLth rs ￿ll￿d lo certAin tax eX￿S ￿ Incx)me and profts frcx Investmenls, and suwuses orb any tra(knry thties c¥n•J fithh•r￿ ￿ th• (harttys rt4"e¢lNes, rf t￿se Bristol. Clifton and West of England Zoological Society Llmlted Notes to the financial statements For the year ended 31 December 2023 Flxed assots Ass•is und8r pknt& Motor txwklrys rnadH"nwy v9hic￿ £'OL Group & Sod•ty Total £'ooo £'wo Cost orV•lu•tlon At 1 January 2023 A￿dit￿n$ 3.574 73 4.159 S1981 1496 123 2,280 11681 483 Transl•rfrcfft AUC At 31 DeCem￿r 2023 44.423 121 3.$84 72 5.788 A¢¢umulat•d d•prKlatk and impalm)ent Al 1 January 2023 Charge in year Impairmenl ob 8.324 113 40 11.446 1.267 1.127 127 13 471 $51 At 31 DKwnbgr 2(123 49 N•t book volue At 31 ￿￿fflb•r 2023 41.813 At 31 Decerthr 2022 41.535 at Bristol kn G¥den$MtKth ￿pe*d to be pxtc*)sure ofts * to aTrJ ￿lI￿aL% ￿ng dwer8•d to ¢JOw colkcts)ns. Som¢ofiho wcyiiesl*vg besn u8•J as bth( k)￿￿O￿V￿gements, thgdetaI5 are w0v￿ed in notes 13 atNJ 24. and iKJldirg5 at Ihgd* FRS 11rd the dewrnd cx)51 was as fc4hM'. 2015 £'ooo Grou and Socl Histori￿1 cosl equivaknl Revaluats)n 3,953 32.807 Net bot* valu• 36,760 Bristol, Clifton and West of England Zoologlcal Soclety Llmlted Notes to the financial statements For the year ended 31 December 2023 10 Investrnonts M•ld as Ilx•d 8•s4t lthv•stm•fit Investrnent Properti&s Gn)up and Sod•ty Total £'ooo Cost or vaknation at 1 J￿￿ary 2023 Addibons 767 767 Nel book value.. At 31 D•¢•mb•r 2023 767 767 At 31 Oecetni*r 2022 767 767 *$ eurr•nt a8s•t inv8strnent Group and Sod•ty Tot41 £'ooo £'ooo Cost or Valuatb￿ at 1 Jarw 2023 1.339 1.339 1.339 Net book value.. At 31 December 2023 At 31 December 2022 Irw8slrn8nt prrprt*S are ststed at vakne as al 31 Oecanlw 2022, based on a wew ty Tru5tee5. These pr(wrt are the sutr4eclofffirstand tharyJes. det*oltthh we rths 13and 24. Thè Soe*ty iy•ms three shares of £1 each ￿ its Irad￿g 5ubsKfi8ry BristsA Zoo Ente￿riSeS Ltd knthich is Incor￿ale￿ in the Urmled ￿1[￿￿￿Tr. TI￿se are the slwe5 aknited. cakd up and fvly paid. 11 Stocks Group Soei 2023 2022 2023 £'ooo 2022 £'ooo Animals f¢x)dstuff8. d88rwy matwid5. Goods resa 23 27 Brlstol, Clifton and West of England Zoologlcal S￿Iety Llmlted Notes to the financial ststements For the year ended 31 December 2023 12 D•btors: amounts falllng du• TrtAthln ono year Group 2023 2023 2022 rooo Amounts lalllng du• wltNn 4)n• y Trade dèbtors 318 316 32 Other debtors 107 1S9 107 159 Amounts owed by wp undertakry. 172 172 68 263 2.095 259 13 Cr￿ltors. amounts falllng due wlthln one y•ar Group 2023 Socl•ty 2023 2022 £'(y)o 2022 £'ooo Bank loan 361 Trad• Cf•ditors 376 373 Amcdmts to undèrtakiTh3 TaxaUon and sooal seuK6ty Oth•r¢t•ditors 232 217 217 28 Accruas & de18rred incow 879 1.929 Ac¢n*l ts uNs6ued share 3,509 Th8 d81*ls ollh• bank h)ar* wilh HSBC B•th at1￿ we a5 1oknB.' Revo￿1￿ rAedit faclrty h)an of£nrf12022: £2ml dravm dow) al the year •ThJ. Thts lacthy is in pk%• unbl J￿& 2026 and c¥mpiise ofa £0.5m aThJ 8 £1kn uedlt fac￿. balanc•s on th• f8voknNJ c¥edil faulty ￿ tharpJ intwest at 2.5% atThe the dEngknd base rat• ard 1% intor•st on undrahn balanc•s: Bank b)an 01£￿(2022." E656.619)T•rth wknst tw Bankof E￿nd b#$¢ rate. b)on w•s repaid in hjl in W12023. AJI d Ihe b)an5 are serxTrJ agaTht ts sy￿￿5 lark1 ar¥J CSkn and at t￿ HolWts>YTtr•m Estaie. Bristol, Clifton and West of England Zoological Society Limited Notes to the financial statements For the year ended 31 December 2023 13 Credltors: amounts falllng du• wlthln one year (conllnued Dfrforrod ¥vJme for ts ¢>wp Soryety welale¥ mowty to •nnual ¢¢rpornt¢ mtsmborship in¢¢m*. and unredeemed admL$s￿ IKket sa*s. ￿ mov•￿ In ¢Jefwred Irwne I￿luded wilhin cre(htors: aff￿nts falmg due writhin ong year are anatys8d L*kJw". Group 2023 £'ooo So¢l•ty 2023 £'ooo 2022 2022 £'ooo D•l•rrnd incom8 at 1 January 631 62S 16311 {3881 1625) 368 In¢c¥ninArnsoThs doleryed n the Deferred incomè at 31 Decem 388 14 Credltors: amounls falllng due after more than one year Group and S￿lety 2023 2022 88r)k108ns repayabl8 in Ir￿la￿en1&WIlhin to yea 6￿￿ loans repayable in ins1a1￿￿tsv11lhi￿ ivw) lo fve Bank loan r8 in in5tskn8nts after Ihan fve xeats 2.296 The above bans qualify as baw¢ fingncial y￿1￿￿nent5. The lolal b)ans. wKluding arno￿18 (hJ8 wthin on8 year, amount to £na12022". £2.657.0001. 15 Share capltal 2023 2022 AUth￿￿- valu• uso £350 Allotted. caled up and fulty pabj slwes 01 £1 value £275 £275 . nwrthr 275 275 Bristol, Clifton and West of England Zoological Society Limlled Notes to the financial statements For the year ended 31 December 2023 16 Unrestrlctsd lundg Group cUrr￿t y Transfars. asset gBin51(1058es nsion Sur￿￿$ £.￿0 Bal￿(• 1 I 2023 resorn ¢xpwx1ed 8alance 31 D•¢•rn￿ 2023 E'ooo O•¥lgn•t•d fvnd• Staff d8v•k)prMni luThJ Fixed asset reserye 131 11.2001 3&879 17.98SI 12.2 29,614 12.200 767 8n.stol Zoo Project tNJqd festr¥• Investment W)￿rtY r•s•N• Total d•$lgnat•d lunds Pension r6serve 767 39.649 11.2831 4.215 42,581 370 {1961 5.352 Other unr•strirt￿ {1.4341 38.781 la4951 (g.ml 1.118 44,069 Total unr•strlet•d funds 5.695 9.371 The d88bJrwted hJThl8 ofts fr*yAry fiMKI5.' fLw rutu￿ Y￿$. of kn lurKlirvJ and r85trict•J ffiJTrJv*J. The the refknts in ts ret bTr)k values ol the a$s*ts and in ban, ￿ fcknvir9 ts sale of assets the Tntslees hav& stsrted ts designa(h)n of JThls from the fixed asset reswve to ts Brisb)I Zoo PK1￿1 reserve. The w)vastft*nl r8sarve has b8en 8stat4s￿ b 8wal8 lo lh8 ith( value of ts Group's Investmenl properb8s, as these we reasth. reP￿ts the changes in the nei t¥)ok Va￿e5 of Sodety ¢uYr•nt y••r Transkts. Balance InVestrr￿ 1 J8nuary Re8rxYtss pnsllknssesi 2023 exp*)del pensw)n swplus £.￿0 8alanco 31 DEcèmbb¥ 2023 D••lgnat•d fundJ Slaff devekjpmenl fund Frxgd assgt r¢wrve Bristol Zoo Pffji•ct res8 knvestrnenl properly ￿serye Total dos19nated fundB P¢n$wJn resewvg Otsr unro¥tri¢led lund5 13} 11.280) 38079 17.9851 12,200 29.614 12.200 767 767 112831 4,215 11961 5.661 9,SOO 42.581 370 11.7431 4n 5.150 18.1401 (9.423) Total unr•5tTlcted fuThJ$ 5.1SO 43,879 37 Brlstol, Cllfton and West of England Zoological Society Limited Notes to the financial statements For the year ended 31 December 2023 17 RestriGted funds - Group & Society I￿ Tran*r from ito r85tyJrce d8swaled Tvon5fe 31 exponded lunds & adjustff￿ts t￿[1) D•c•mb•r 2023 2023 £'o ConservaliC￿ related.. conserva￿0￿ FUTr 198) 11 37 20 15 120 1551 Sahamalaza Researth ￿tre Gorilla COnservab￿ FLmd Giraffe Project Fund UK Inva￿¥8 Weeds Crayfish Cmseryalion Bleedry Heart Dove$ Sanj• MaNJabw lknkoys kl Plat• Nativ6 Swa&s Native Spec￿$ M￿laga$car Pm1￿1 RAPID Life Fish Net Madagascw SOS 8eN)ue ¢ph￿l Crtsi8 fund Fish Net G GEF 7 Human Wldlrfe Co8xislence EG DaThMn IniliatNe Olher reStr￿ted c{￿r¥Ol￿ fvnds Mlh movwrErts of less than £10.￿) 47 10 27 110} 10 1201 24 15 37 191 Isi 17 13 141 1531 12 131 1171 17 12 17 141 52 43 1721 1331 14 10 50 11451 21 10 121 65 Education pr(tyJran Captsl project ￿￿ed 1(M) Ttst￿ r•strl¢t•d lund 485 112fj1 1.932 The dknt res1rKI￿ fiJrth are to trK as tkn". The Fund wasset that w be xrc6s avaw ofrJ)nseryation projects aNI i% not r•stiicted to Inthdual w(ryects. RefrKe5tats￿ Prq¢d- tri$ B a 3-ywr9Wt IUCN SOS Lomurs for rm Skn8*a. Mada9asw refowtatson kmur mormknng W¥￿t. Thè (knla Cmserya￿n FUNJ vras sèi ￿10 t¥thidè *JThJs ¢xnsèrvatiL*) Wti*ets. The &raffe ProJeLt Fund wrds sel up to wowd8 fr￿dS k)r(onstr￿1￿￿ crf 8 gwdffe ￿USe at Bristol ZrK• Prr48rA Ifcfrnedy Wikl Pr(¥edl in-yknj giraffe (￿at￿￿ UK Invagve weed$-￿S￿l￿j Wassel￿t0 arnl in thesouth￿s1 Bleed￿g Fkart t>hes- Ihis fuKI r6 PhiKTine& SwJ8 Ma￿?beY- tris fi￿1 L8 a Sary8 cor6ervak)n rKryect in Tw￿la. Natsve s￿Be$- Ihis fund was set up UK CA￿Va￿ ￿lIk. Madagascar - Ihi5 f4rf key kM)St gr*Jale $tw￿$ on w M*Jagascar cons￿¥*￿￿ Projecl. Brlstol. Cllfton and West of England Zoologlcal Soclety Llmlted Notes to the financial ststernent5 For the year ended 31 December 2023 17 ReStrIct￿ funds (conunued) within En¥and. SFwes in Madagww. SOS 8srMyJ8 FunthrrfJ- su>p%fjrYJ SWRT t￿d patrtsLs m BNP. c*ner￿￿. Ewwl fvnd. ts elephqnt rr*gatrm in Eq(kn￿ GEF 7 Human Wikmé Co8xithne• EG. t¢ c4XS8Nè axl man•¥ bKthorsty a*J forasi th*sy5t8m5 in th8 MC￿te ￿en FiL) Ca￿V) 1aTrkn￿s ￿ EqL*na Gui Da￿•7n InitraiNe- Ihis frJrKI is suppfytrg ts Thesbgats"C￿ ￿ts) hLthJ causes n the NcthW•st Panay P￿InSUla aNI i)Jr8dwatson r8CeiV9d a lo drtpow c4rerof•J￿kn swjroms 10 enh￿ our I&￿ tAxl ir We awarded £1.5m duw trhe yew r4XtaldeVek)￿ of8rtstd Z(M) Project 18 Allocatlon of net assets assèts kns latrAlI￿S lL￿g cre(htors Penwn asset Totar £'ooo 44069 £'ooo Unrestrthxed fuNIs 42,WJ 1.119 370 Restrict8d 1,932 1.932 Tolal 42,$80 3,051 370 soclffji Met currènt Fu8d assets ha￿"11ti￿s credit(M5 p￿$￿)￿ ass•1 £'oc Totsl £'ooo 43,179 1,932 Unrestricted 42, 929 370 Reslricled funds 1.932 42. 2.861 370 45,811 Bristol, Clifton and West of England Zoologlcal Society Limited Notes to the financial statements For the year ended 31 December 2023 19 Pènslons D•fln•d b•n•fit scheme Swety operates a i1￿ned benefit $C￿Me In lh• UK. This L8 a separate Trustee adminislered fy￿1 IKAding the pens¥)n s¢h*n• asseLs lo ffeet I￿9 term kabihl*s. The sd)&me dosed to new entranls ￿ 2004, an¢J on 30 Sèptembaf 2012 eeased aoxjal ol beneffits. A lul aC*u￿al valuabon carried out al 30 Septw))ber 20218Thl was updated to 31 December ￿lTj by a qu#fied acluwy. Thjepgndgnl ol the sch8m8'5 5pon50nng empk)yer. and ￿ line vith FRS 102. The rr4or assumplK)n5 used by the aLXuary tr the valuauon used in lh8 finanaal statemenis ar• slknyn below. The most re¢ent xtuarial valuation a surklus of £141.CMX)130 Sepiember 2018.. surplus of £390,(XX)I. The ￿"ety has yeed wlh the TrLtst•es that scf*me is In SU￿V$ rm) adth"t1￿aI wntsitrKJtion5 wèrè r64LMf8d in 2023 01 gthw4uent y￿{2022. £nil padl. The Scci8ly has agreèd with Ihe Twstees Ihat li ¥&ryl fft￿l expenses of Ihe and pay wnounts inlo the sdwme ewal io th8 W pa￿nts madè by lh• Pension ProtectN￿ Fund. Thè rnaic* assumobns used by Ihe xtuwy ¥¥gre Assumpllons 2023 2022 2021 % p•1 annum 3.4% % per annum % perwnurn Inflatsjn IRPII InnatKJn ICPII Rate ol discounl 3.1% 3.2% 18% 2.8% 3.0% 5.0% 1.8% nKJrtality assunytions *iled at 31 Dewthr 2023 fo*MtrvJ fife expec¢arties post retiremenL 2023 2022 y¢¥rs yèars Mal• r8iThYJ at age 65 in 20rJ Female reb.ring at •Je 65 in 2￿23 Mae retiring at ¥ 6S in 2043 Female retirlng at age 6S in 2043 21.1 21.7 23.3 22.4 24.7 25.2 The fair of th8 asséts in scheme vas: 2023 £'ooo 2022 Eqthbes Bonds 1,101 1.060 1,434 1,069 Other fur¥Js 2,503 2.201 01￿ Iwwrty. cash etc.) Fail value of assets 25 25 4,729 None of the f&r vakjes of the assels any tsfljw Group's offii fmancial instrumenls or any p￿p8rty occupied by, ur assets L¢ed by. Ihe Sw. Bristol, Clifton and West of England Zoological Soclety Llmlted Notes to the financial statements For the year ended 31 December 2023 19 Penslons {contlnuod) R•￿Tr¢I11a¢l0n of s¢h•m• us•ts and Ilablllll•s Liabllibes E'ooo Total £'ooo £'(K)O Al 1 J￿Uary 2023 4.729 (4.1631 S66 Interest i￿0￿￿(exper￿9) 233 12051 28 Actuarial (1321 32 1921 12241 Employer cOntrt￿li0ns Benefits paid 32 (1211 121 •s 32 132 At 31 De¢emb•r 2023 4,339 370 D•finéd ￿n•llt Gosts roeowlsod In the Con80Udatsd statenwt of Ilnon¢i•l a¢tlvltl 2023 £'ooo 2022 £'ooo Net interest iro 20 enses 15 T(rtal Icostsywwme recognised rn the Consolidaied statement off*)w"al Amounts for th• ¢uYr•nt and four y•w5 2023 rooo 2022 2021 2020 É'ooo 2019 £'oTr) Faw vaue of seheme asséts 4,709 7.530 7.205 6,581 Pres*￿ Val￿ of (J&finèd benefrt obbjai {4.3391 (4,1631 16,897) {7.0491 {5.9441 Surpluslld•ficltl In tho •ehqm• 37D 633 156 637 nod contrknullon sch•m• The SOc￿ty operates a Gmup P•rs(*MI P•nsth mto **ich empbyg0$ arg now auloaenrollgd. Tho SLKi•ty mak•s Contribu￿n$. Thè pwtsion Cost for lh8 y8ar payable to Ihis stheme was £141,1)0012022'. £168,000). The costs of the provision of ¢*alh in semce benefiis tcrtal £14,09312022." £15.600}. Pens*)n Costs ar• a￿11￿ to expwxlilixe ealeg)rws in lo the key tsjsiness driver for thal area ol the sine5S. 47 Bristol, Cllfton and West of England Zoological Society Limited Notes to the financial statements For the year ended 31 December 2023 Roconclllation of nèt (expondlturevlncome to net cash provldod by oporatlng acllvltles 20 2023 £'ooo 2022 £'ooo Contlnulng •ed¥ili•s M¢)vement in I￿￿8 Acluarial k)ssesl{gansl ￿ deffined l)eneft pensim sd* Interest recwed Nèt b)$stsllprofrtsl ¢￿ fix•d ass•1 thsp)sal Nel tssesllgainsl inveslments 6,735 13.7831 67 (9.4411 132 N$t èxpènse for year before ￿NEstm￿l h)sses {2.5631 {3,5641 Depreciabjn and imwm•nt ol W*gWè ftted assets 1,Z80 1,640 D8cr888èllintrè8s•} in debtors In¢tea$el de(xease in credilors 11,8341 432 Not •rat¢d us•d In 4.836 1.265 21 Analysis of Gash and cash equlvalents At31 D9￿mber 2023 £'ooo January 2023 £.￿0 Cash flows £'ix)o Cash at bank aThJ in hand 2.170 ¢￿h and cash uival•nts 2.170 22 Commltments under opèratlng leases At thg y80r end. the lutwe rt￿inK￿ ￿ase paYffl￿ts under non<8ncdth op8rnb.tvj leases for pr￿rtY lor vehl¢*s were &8 lolows.. Group and So¢lety 2023 £'ooo 2022 Wilhkn one year Be￿ert and fve years Mor8 fivè ars 10 48 17 28 27 23 Capital commltmenis Group and S¢¢l•ty 2023 £.(￿0 2022 £'(M)o 337 Arnnts aullK)rfsed but r• 42 Bristol. Clifton and West of England Zoologlcal Socloty Limited Notes to the financial statements For the year ended 31 December 2023 24 Contingènt ass•ts and Ilabllltlos The SOc￿ty ￿1Ved nolif￿alK)n thjrry Ihe y8¥ gwt award Of£50.(￿ that was pmwding maleh4unding lor and d5 conditional on suc¢g5sfv1ty s￿Uri￿J a ￿rther&￿1. The SUC￿$$ oflhks grant applkation was Mtified in April 2024 vkngn the original grant w reknased the Sc*i•ty. At 31 D￿￿[￿ler2o23. Ihe Society nobfjed d begacm ¢knt**w• Ihe astates w•r• SVII finalBed vthh an 88lwnated value of £48.(XXI. 25 Relaled party transactions FRS 102 bglw8s tha1t1￿ kJ*yhYb3 relaw paty ofwthth wtte m¥Jeon an arm's le1￿th basis. requwe disdwre.. tXJnng Ihe year. th• S￿ty pairl substtpt￿￿ and tXMW gor*Js a￿1 sewvices to Ihe value of £9,78012022.. £14.4001 from (Wisil Wesll D¢$bna￿n Bri51oL kn the Chief Execulive is a r¥)n4x8uJbv• ¢JIl￿tor. the year. the ScK*ly paid ￿ntntAthns to the en"51L4 Nalurdl Hrstw Consortiurn of £5.0(J)12022.' £1250 The Ctsel Execut￿ * a d￿tor ol t￿"$ ￿an￿Sa￿l ￿ thè St• Ik)Id8 rme third ofthe membershlp. Durng Ihe year, the knigty rgcw¢d fees Edwtw provi8k)n of £773.22312022.. £825.6461 trLvn Univtitsty of W8St of EnglaThl and £143.544 12022.. £181.0661 from UnFver*ty of Bristol. Both organisabon$ nominate one Trustee to the Board yew. t229.710 vrds Outstsndiry at tho yew end from Untversity of West of ENJLand. DuriwJ the year Ihe also recep￿1 CrypNate m￿nbe￿tsp I￿rne of£3,72012¢Y22." £4.7401 Irom University ofwest of England. purchased cOnfe￿nCe lic*ets 01 £165 [2022.. £nll. aKI paid rnnswva1K￿ projecl expenses of £nil [2022". £6.913}. alr￿￿ts for thgse rtems were oubtarnth'n9 at ts year end. During th8 ye8r ts Swiety *0 received serws Uwersity of Bristol of £875 {2022: £nMI. Ng arTwnls these itern8 were ¢xtstanding al the year eThJ. Ounn9 the year. the I￿10￿￿j tranS￿)n5 tt*)k pbta bowi Styioty and its o¢med subskllary Brfst Zoo Ent*rprises LTh18d {'BZE'I.' th8 provisKffi Of￿ operating I￿en￿ by the Souety a5 a con￿5$19n to 0￿UPY the space used for caterir¥J, ret*l, and othw aCti￿￿e5 at Bristol Zoo Projgci arhj m*9 use of 8quiprnent,' 2023. the hcence lee vrds £54.53612022". £160.5361. A Ma￿gement char98 by the $c¢￿ty to cover BZES sha of central costs and o¥erh•ads,' in 2023. trms wd5 £161,43712022.. £536.1191. The transler under Gift Aid of the trading profits of 8ZE for 20Z2 of £309.215. The bal￿e dL* tr¢￿ the Socw to BZE ai 31 December 2023 was £115.40312022.' £231.7341. During thè yèar. th&Soc￿ty p•J£4,OXI)) Bwwwest LldWe3lofENJand Inthts"ve, vthère ts Chi81 ExeoJlN8 is Ihe Presid8nt of Ihe Bristol ChwnberofCKM7)nwA & lThlthe. ￿rt￿eV$Iness WesL 26 Additlonal Inf0m￿tIon Bristd. Clifton and Wesl d Erw 2￿ &oiety Limitod i% a W1Va￿ ujrnpany linNted by shares aThJ Is ncorporate8S Incon8 from tharilat48 acknbes. 81istcl Zth) G¥￿￿9 2(al S.009 BristrA Zoo ProJÈct (f• WI￿ Prr4&t) 2.016 2,818 302 bl 1.629 Invesimenl ￿¢ 37 37 Tolal Ineom• 302 Exp•ndllur• Eywlrturn on raw fvTrYs.' F￿￿181$1 275 275 In¥estrnenl 37 37 1.613 1,613 34Z 8,342 8rfstd Zo) Iform8ty Wlkl Pl￿ F*•i 1399 557 943 To111 • ditur• $57 297 N81 lexpenditwaWir*om t•fc¥e 1nvqsb￿ I1￿@5y￿ ain$ on thestrnenis (3.3291 (2S51 13.5841 132 10 132 Net l•xp•nditur¢YinGcqne lorfv y•ar 114611 (3.7161 fuTrts iisji 1$0 O¢herrwAw5•Jgwrollkwes1". 19 61 N•t mov•m•nt In 105 Total luThJ• C￿rf•d .ni 485 39.266