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2020-12-31-accounts

REGISTERED CHARITY NUMBER: 1108609

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Page
Report of the Trustees 1 to 5
Report of the Independent Auditors 6 to 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 27
Detailed Statement of Financial Activities 28 to 30

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The directors present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Zoological Society of Hertfordshire is a non-political, non-sectarian voluntary body with charitable status working with statutory and other voluntary organisations to preserve wildlife and endangered species.

The charity's mission is to;

provide a relaxed environment for people of all ages and abilities to interact with animals and to increase their understanding of the natural world.

provide the best facilities in order to benefit the animals in our care, our visitors and our staff. fulfil this mission through entertainment, education, conservation and fun.

Public benefit

The directors confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.

Page 1

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE

2020 started very positively with the Drive4Wildlife team led by PWP Director, Tyler Whitnall and joined by ZSH Director Matt Brady revisiting Uganda to donate the new Animal Ambulance and Rehabilitation Vehicle to the Ugandan Wildlife Education Centre (UWEC). The team worked with the rangers in Murchison Falls National Park and around Entebbe and Kampala. The team also assisted in collaring wild elephants to help with human wildlife conflict and the migration of elephants.

Through February and March news was unfolding about Coronavirus (Covid-19), this was to have a huge impact on 2020 with lockdowns and staff being furloughed. ZSH was in a strong position at the end of 2019 with financial reserves to hopefully ensure the security of the charity through the pandemic.

Directors and management worked tirelessly to review all expenditure and income, contracts, renegotiate new builds and ongoing projects. The Coronavirus Job Retention Scheme was introduced by the Government allowing us to furlough the majority of our team which assisted the charity in retaining staff. All departments within the charity and business were split into separate teams to minimise contact or reduced to a skeleton crew.

Through the first lockdown from 23rd March to 20th June Aaron, Tyler and Cameron Whitnall were commissioned by True to Nature to produce a 5 part series for CBBC called One Zoo Three. This was exceptionally educational, good fun and highlighted the work of ZSH and featured footage from their Drive4Wildife project in East Africa.

Key highlights throughout the year included;

Annual Membership Scheme:- The membership scheme is now in excess of 12,000 members and continues to increase. Annual members pay a yearly membership or by a rolling standing order.

Education & Sustainability: 2020 was a difficult year on the team at ZSH. Due to Covid the Education Officer departed and schools were not able to visit but the marketing team and the keepers excelled with online live streaming of keeper talks, educational and fun films plus fundraising initiatives. ZSH received national press from live streaming, photography and stories around the animals and from One Zoo Three.

Day Ticket Sales: Our income from ticket sales changed to online bookings only from June 2020. The Covid19 pandemic had a dramatic impact on ticket sales throughout 2020, but the total numbers were positive with 242,345 visitors compared to 347,169 in 2019 which were pleasing under the circumstances.

Conservation: ZSH continued to invest into new habitats and refurbishments for the benefit and welfare of our animals but also support partners in the UK and around the world not just with finances but equipment and advise, as well as supporting our team in enhancing their knowledge of the natural world.

The Conservation Team (all volunteers) opened the shop between lockdowns and had a very successful year raising £63,654 for ZSH's projects around the globe.

ZSH has still been able to make donations and give support to the following: - Wildlife Vets International, Ugandan Wildlife Education Centre (UWEC), African Wildlife Foundation, Tapir Conservation Initiative, Red Panda Network, World Land Trust, Ol Pejeta, Wild Cats Conservation Alliance, SANCCOB, Panthera, Snow Leopard Trust and Wildlife Alliance.

New Builds & maintenance:

Page 2

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

In 2020 we made many improvements, be it, with maintenance, new developments, or our general procedures day to day. Work continued on a new development, "Land of the Tigers" for our Amur tiger sisters, Aleena and Siberia, which opened in October 2020. The new Bamboo Asian Kitchen at Land of the Tigers was postponed to 2021. The new state of the art habitat highlights the plight of the tigers with deforestation and illegal logging and critical numbers of tigers in the wild and our conservation work around tiger habitats with human wildlife conflict in a fun and engaging way. The habitat itself comprises of high-quality landscaping with bamboo and plants which replicates their natural environment, multiple glass viewing areas manufactured from recycled shipping containers and all round high quality welfare. The habitat has underwater viewing, the first of its kind in the UK, for the tigers to bask in the sun and swim. The tigers' new home is also the first big cat mixed habitat, with a mix of beautiful fish in a state-of-the-art pool, another first for the UK.

There were further improvements around the site while trying to make the most of being closed but only having a few of the maintenance team in, these included; full service of the 'Well', new water supply to the animal park, new pumps installed around site, removing old small buildings that were not required and making more outdoor picnic areas. Also on the animal park refurbishing the reticulated python habitat, moving goats to a new larger enclosure, and continuing work on the Tiger, Sun Bear and Jaguar habitats.

Zoo Licence Inspection:

In August 2020 ZSH welcomed inspectors from DEFRA and BIAZA, and environmental health officers from East Herts Council.

The inspectors were very impressed with all aspects of the business and charity, especially how the Directors and team dealt with Covid-19, closure, retaining engagement online with members, visitors and donors, animal welfare, education, research, breeding and conservation. ZSH passed with flying colours, gaining accreditation from BIAZA as well as EAZA.

New Event:

While open through October half term, ZSH was also able to deliver its first 'Dinos After Dark' evening event over 10 nights. This was a huge success providing education through fun and providing additional funds to help us recoup some of our lost revenue over the summer.

FINANCIAL REVIEW

Financial position

Total income for the year amounted to £5,348,466 (2019-£6,060,480) and total expenditure £4,165,375 (2019£4,726,801). Net movement in funds for the year was a surplus of £1,183,091(2019-£1,333,679). As at 31 December 2020 reserves amounted to £5,239,967 (2019-£4,056,876).

Principal funding sources

The principle source of funding is from the generation of a surplus from the animal park and related activities. This is supplemented by donations from visitors, corporate bodies and a range of fundraising initiatives.

Reserves policy

The charity aims to retain reserves in order to meet its financial obligations and to establish cash reserves equivalent to at least three months expenditure estimated to be £1,200,000. At the Balance Sheet date net cash reserves amounted to £2,637,821 an increase on the previous period of £469,171. The directors will continue to manage the charity's finances on a prudent basis going forward. The directors medium term aim is to increase cash reserves to a maximum of six months expenditure.

Page 3

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

FINANCIAL REVIEW

Going concern

After making appropriate enquiries, the directors have a reasonable expectation that the charity has sufficient resources to continue operations for the foreseeable future. For this reason the going concern basis is adopted in preparing the financial statements.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is unincorporated and is controlled by its governing document, a constitution adopted on 23 January 2005 and amended on 28 November 2016.

Recruitment and appointment of new trustees

Traditionally, directors have been recruited by word of mouth and personal recommendation. The charity has been fortunate that the mix of expertise has been sufficient to enable the directors to make informed decisions.

P C Sampson resigned as a director of ZSH Corporate Trustees 1 Ltd and ZSH Corporate Trustees 2 Ltd on 31 December 2019.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1108609

Principal address

Paradise Wildlife Park White Stubbs Lane Broxbourne Hertfordshire EN10 7QA

Trustees

ZSH Corporate Trustee 1 ZSH Corporate Trustee 2

Auditors

Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

Page 4

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on ............................................. and signed on its behalf by: Dec 13, 2021

Eric Peacock

Eric Peacock (Dec 9, 2021 14:20 GMT)

................................................................. ZSH Corporate Trustee 1 - Trustee

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

Opinion

We have audited the financial statements of The Zoological Society of Hertfordshire (the 'charity') for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and material third parties. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether the was evidence of bias by the directors that represented a rick of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

mwbrindley

mwbrindley (Dec 13, 2021 15:08 GMT)

Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

Dec 13, 2021 Date: .............................................

Page 9

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Animal park
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Animal park
Other
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
19
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
639,072
3,764,640
68,211
82,446
788,793
5,343,162
24,241
927,426
3,198,146
4,149,813
1,193,349
(8,769)
1,184,580
4,047,956
5,232,536		 Restricted
funds
£
5,304
-
-
-
-
5,304
-
15,359
203
15,562
(10,258)
8,769
(1,489)
8,920
7,431		 31.12.20
Total
funds
£
644,376
3,764,640
68,211
82,446
788,793
5,348,466
24,241
942,785
3,198,349
4,165,375
1,183,091
-
1,183,091
4,056,876
5,239,967		 31.12.19
Total
funds
£
624,657
5,281,799
69,561
79,760
4,703
6,060,480
24,960
1,292,511
3,409,330
4,726,801
1,333,679
-
1,333,679
2,723,197
4,056,876

The notes form part of these financial statements

Page 10

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

BALANCE SHEET 31 DECEMBER 2020

Notes
FIXED ASSETS
Intangible assets
11
Tangible assets
12
CURRENT ASSETS
Stocks
13
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one
year
16
NET ASSETS		 Unrestricted
fund
£
2,186
2,842,471
2,844,657
15,667
145,186
3,630,390
3,791,243
(436,697)
3,354,546
6,199,203
(966,667)
5,232,536		 Restricted
funds
£
-
-
-
-
-
7,431
7,431
-
7,431
7,431
-
7,431		 31.12.20
Total
funds
£
2,186
2,842,471
2,844,657
15,667
145,186
3,637,821
3,798,674
(436,697)
3,361,977
6,206,634
(966,667)
5,239,967		 31.12.19
Total
funds
£
2,186
2,629,665
2,631,851
12,597
118,409
2,168,650
2,299,656
(874,631)
1,425,025
4,056,876
-
4,056,876

The notes form part of these financial statements

continued...

Page 11

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

BALANCE SHEET - continued 31 DECEMBER 2020

FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 5,232,536
7,431
5,239,967		 4,047,956
8,920
4,056,876

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: Dec 13, 2021

Eric Peacock

Eric Peacock (Dec 9, 2021 14:20 GMT)............................................. ZSH Corporate Trustee 1 - Trustee

Matt Brady (Dec 13, 2021 12:55 GMT)............................................. ZSH Corporate Trustee 2 - Trustee

The notes form part of these financial statements

Page 12

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Net cash provided by financing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 31.12.20
£
1,064,647
1,064,647
(597,392)
1,916
(595,476)
1,000,000
1,000,000
1,469,171
2,168,650
3,637,821		 31.12.19
£
1,841,667
1,841,667
(1,388,123)
2,279
(1,385,844)
-
-
455,823
1,712,827
2,168,650

The notes form part of these financial statements

Page 13

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Loss on disposal of fixed assets
Interest received
Increase in stocks
Increase in debtors
(Decrease)/increase in creditors
Net cash provided by operations
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.20
£
Net cash
Cash at bank and in hand
2,168,650
2,168,650
Debt
Debts falling due within 1 year
-
Debts falling due after 1 year
-
-
Total
2,168,650		 31.12.20
£
1,183,091
384,586
-
(1,916)
(3,070)
(26,777)
(471,267)
1,064,647
Cash flow
£
1,469,171
1,469,171
(33,333)
(966,667)
(1,000,000)
469,171		 31.12.19
£
1,333,679
295,293
1,125
(2,279)
(2,747)
(38,359)
254,955
1,841,667
At 31.12.20
£
3,637,821
3,637,821
(33,333)
(966,667)
(1,000,000)
2,637,821

The notes form part of these financial statements

Page 14

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

GOING CONCERN

The charity's forecasts and projections indicate that it can meet its day-to-day working capital requirements as they fall due for a period of at least twelve months from the approval of the accounts. In addition, the Trustees consider that the cash resources remain adequate to meet the charity's obligations as they fall due.

The Trustees have also considered the impact of coronavirus on the charity's operations. As the expected long-term duration of coronavirus became clearer, the Trustees completed an exercise to restructure the charity to reflect the impact of the pandemic on the economy. The exercise demonstrated the charity had sufficient cash resources to continue operations for the foreseeable future, being a period of no less than one year from the date of approval of these financial statements. On this basis, the Trustees consider the charity to be a going concern.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income Tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of donation.

Admission income is recognised in the period in which it is receivable.

Donations are recognised in the period in which they are received.

Rental income is recognised in the period to which it relates.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

The cost of generating funds are those costs incurred in attracting voluntary income and those incurred in trading activities that raise funds.

Charitable activities include our conservation and education programmes and the operation of the animal park. The costs of our charitable activities include both direct and support costs.

Governance costs includes costs primarily associated with constitutional and legal requirements.

Page 15

continued...

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES - continued

EXPENDITURE

Support costs include general management, information technology and human resources costs.

Irrecoverable VAT is charged as an expense against the relevant activity.

PATENTS AND LICENCES

This represents legal costs incurred to date on trade mark applications.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 10% on cost
Short leasehold - in accordance with the property lease
Animal enclosures and attractions - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Assets in the course of construction are not depreciated until they are brought into use. Animal livestock are carried at nil value.

All assets costing more than £500 are capitalised and includes any acquisition costs. Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

The charity is exempt from tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Page 16

continued...

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES - continued

OPERATING LEASES

Rentals under operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

DEBTORS

Trade and other debtors are measured at the settlement amount. Prepayments are valued at the amount prepaid.

Cash at Bank and in hand

Cash at bank and in hand includes cash held on current or deposit accounts with instant access.

Liabilities and provisions

Liabilities and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.Liabilities and provisions are normally recognised at their settlement amount.

Financial instruments

The charity has financial assets and 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.

2. DONATIONS AND LEGACIES

Donations
Gift aid		 31.12.20
£
224,664
419,712
644,376		 31.12.19
£
102,973
521,684
624,657

continued...

Page 17

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

3.
OTHER TRADING ACTIVITIES
Charity events
Cabin sales
4.
INVESTMENT INCOME
Rents received
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Visitor income
Animal park
Other operating income
Animal park
6.
RAISING FUNDS
OTHER TRADING ACTIVITIES
Purchases		 31.12.20
£
4,557
63,654
68,211
31.12.20
£
80,530
1,916
82,446
31.12.20
£
3,722,009
42,631
3,764,640
31.12.20
£
24,241		 31.12.19
£
20,092
49,469
69,561
31.12.19
£
77,481
2,279
79,760
31.12.19
£
5,193,598
88,201
5,281,799
31.12.19
£
24,960

continued...

Page 18

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

7. CHARITABLE ACTIVITIES COSTS

Animal park
8.
SUPPORT COSTS
Other resources expended
Support costs, included in the above, are as follows:
Wages
Social security
Pensions
Hire of equipment
Rent payable
Rates and water
Insurance
Motor and travelling expenses
Telephone and communications
Printing, post & stationery
Advertising and marketing
Sundries
Bank charges
Accountancy
Consultancy fees
Legal and professional fees
Light and heat
Staff welfare and uniforms
Computer maintenance
Training costs
Irrecoverable VAT
Repairs and maintenance
Health and safety
Bad debts
Depreciation of tangible and heritage
assets
Loss on sale of motor vehicle
Auditors' remuneration		 Management
£
3,192,864		 Governance

costs
£
5,485
31.12.20
Other
resources
expended
£
685,894
61,549
28,351
6,267
600,000
5,489
50,765
20,483
19,675
73,653
137,473
42,983
36,287
11,540
261,177
7,848
148,740
27,043
40,852
5,830
231,672
303,074
632
1,000
384,587
-
5,485
3,198,349		 Direct
Costs
£
942,785
Totals
£
3,198,349
31.12.19
Total
activities
£
726,560
55,006
31,253
6,085
871,528
19,555
57,011
43,912
24,357
107,348
293,259
39,424
45,028
6,601
22,500
-
163,002
41,560
37,716
24,349
184,414
305,796
1,048
-
295,293
1,125
5,600
3,409,330

continued...

Page 19

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

9. TRUSTEES' REMUNERATION AND BENEFITS

The Trustees did not receive any remuneration or benefits in the year under review, nor the previous year.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

10. STAFF COSTS

31.12.20
£
Wages and salaries
1,405,848
Social security costs
101,961
Other pension costs
28,351
1,536,160
The average monthly number of employees during the year was as follows:
31.12.20
Animal park and administration
102		 31.12.19
£
1,537,696
108,404
31,253
1,677,353
31.12.19
94

No employees received emoluments in excess of £60,000.

The trustees consider the board of trustees and senior management team comprise the key management personnel of the charity in charge of directing, controlling, running and operating the charity on a daily basis. Total employee benefits of the key management personnel were £266,418 (2019-£318,697).

11. INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
Patents
and
licences
£
COST
At 1 January 2020 and
31 December 2020 2,186
NET BOOK VALUE
At 31 December 2020 2,186
At 31 December 2019 2,186

continued...

Page 20

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

12. TANGIBLE FIXED ASSETS

COST
At 1 January 2020
Additions
Reclassification
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
COST
At 1 January 2020
Additions
Reclassification
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019		 Plant and
machinery
£
63,373
940
-
64,313
33,784
7,632
41,416
22,897
29,589		 Improvements
Assets in
to
course of
property
construction
£
£
119,756
400,000
-
593,112
-
(925,441)
119,756
67,671
15,737
-
11,976
-
27,713
-
92,043
67,671
104,019
400,000
Fixtures
and
Motor
fittings
vehicles
£
£
1,290
43,500
1,350
-
-
-
2,640
43,500
1,290
25,148
270
4,588
1,560
29,736
1,080
13,764
-
18,352		 Short
leasehold
£
3,650
-
-
3,650
2,190
730
2,920
730
1,460
Computer
equipment
£
85,492
1,990
-
87,482
41,666
21,870
63,536
23,946
43,826		 Animal
enclosures
and
attractions
£
2,449,764
925,441
-
3,375,205
417,345
337,520
754,865
2,620,340
2,032,419
Totals
£
3,166,825
1,522,833
(925,441)
3,764,217
537,160
384,586
921,746
2,842,471
2,629,665

continued...

Page 21

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

13.
STOCKS
31.12.20
£
Goods held for resale
15,667
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20
£
Trade debtors
41,771
Other debtors
72,229
Prepayments and accrued income
31,186
145,186
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20
£
Bank loans and overdrafts (see note 17)
33,333
Trade creditors
189,628
Social security and other taxes
12,249
Other creditors
7,511
Accruals and deferred income
193,976
436,697
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.20
£
Bank loans (see note 17)
966,667
17.
LOANS
An analysis of the maturity of loans is given below:
31.12.20
£
Amounts falling due within one year on demand:
Bank loans
33,333
Amounts falling between one and two years:
Bank loans - 1-2 years
200,000
Amounts falling due between two and five years:
Bank loans - 2-5 years
200,000		 31.12.19
£
12,597
31.12.19
£
24,057
39,924
54,428
118,409
31.12.19
£
-
393,294
28,721
6,838
445,778
874,631
31.12.19
£
-
31.12.19
£
-
-
-

continued...

Page 22

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

17. LOANS - continued

LOANS - continued
31.12.20 31.12.19
£ £
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more than 5 years 566,667 -

The charity successfully applied for finance under the Coronavirus Business Interruption Loan Scheme (CBILS).The term of the loan is over six years and carries a variable rate of interest at a small margin over Bank Base Rate. Interest for the first 12 months is paid by the UK Government and no repayments are required in this period. The loan is unsecured.

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years		 31.12.20
£
605,256
2,410,512
600,000
3,615,768		 31.12.19
£
-
1,221,024
-
1,221,024

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Drive4Wildlife
National Lottery Garden Project
Wild Tiger Health Centre
TOTAL FUNDS		 At 1.1.20
£
4,047,956
-
8,920
-
8,920
4,056,876		 Net
movement
in funds
£
1,193,349
(8,567)
(6,995)
5,304
(10,258)
1,183,091		 Transfers
between
funds
£
(8,769)
8,567
202
-
8,769
-		 At
31.12.20
£
5,232,536
-
2,127
5,304
7,431
5,239,967

continued...

Page 23

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Drive4Wildlife
National Lottery Garden Project
Wild Tiger Health Centre
TOTAL FUNDS		 Incoming
resources
£
5,343,162
-
-
5,304
5,304
5,348,466		 Resources
expended
£
(4,149,813)
(8,567)
(6,995)
-
(15,562)
(4,165,375)		 Movement
in funds
£
1,193,349
(8,567)
(6,995)
5,304
(10,258)
1,183,091

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Drive4Wildlife
National Lottery Garden Project
TOTAL FUNDS		 At 1.1.19
£
2,717,197
6,000
-
6,000
2,723,197		 Net
movement
in funds
£
1,364,350
(39,591)
8,920
(30,671)
1,333,679		 Transfers
between
funds
£
(33,591)
33,591
-
33,591
-		 At
31.12.19
£
4,047,956
-
8,920
8,920
4,056,876

continued...

Page 24

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Drive4Wildlife
National Lottery Garden Project
TOTAL FUNDS		 Incoming
resources
£
5,990,755
58,724
11,001
69,725
6,060,480		 Resources
expended
£
(4,626,405)
(98,315)
(2,081)
(100,396)
(4,726,801)		 Movement
in funds
£
1,364,350
(39,591)
8,920
(30,671)
1,333,679

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Drive4Wildlife
National Lottery Garden Project
Wild Tiger Health Centre
TOTAL FUNDS		 At 1.1.19
£
2,717,197
6,000
-
-
6,000
2,723,197		 Net
movement
in funds
£
2,557,699
(48,158)
1,925
5,304
(40,929)
2,516,770		 Transfers
between
funds
£
(42,360)
42,158
202
-
42,360
-		 At
31.12.20
£
5,232,536
-
2,127
5,304
7,431
5,239,967

Page 25

continued...

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Drive4Wildlife
National Lottery Garden Project
Wild Tiger Health Centre
TOTAL FUNDS		 Incoming
resources
£
11,333,917
58,724
11,001
5,304
75,029
11,408,946		 Resources
expended
£
(8,776,218)
(106,882)
(9,076)
-
(115,958)
(8,892,176)		 Movement
in funds
£
2,557,699
(48,158)
1,925
5,304
(40,929)
2,516,770

NatureFiji-MereqetiViti -To fund conservation projects in Fiji. Drive4Wildlife-To fund the purchase of an anti-poaching vehicle for use in UWEC, Uganda. National Lottery Garden Project-to provide an outdoor space for a local care home for the elderly. Wild Tiger Health Centre-resource accessible to rangers and veterinary staff working in the field.

20. EMPLOYEE BENEFIT OBLIGATIONS

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost of £28,351 (2019-£31,253) represents contributions payable by the charity and includes those paid to the personal pension schemes of certain employees. Contributions totalling £7,511 (2019-£6,838) were payable to the fund at the year end date.

21. RELATED PARTY DISCLOSURES

Parkside Leisure Ltd and it's subsidiaries Paradise Wildlife Park Ltd and Parkside Construction Services Ltd are controlled by P C Sampson and are therefore related parties. L K Whitnall is a director of Parkside Leisure Ltd, Parkside Construction Services Ltd and the corporate trustees companies which control the charity.

In the period the charity incurred rent and other costs from Parkside Leisure Ltd amounting to £950,632 (2019-£952,095) of which £85,573 (2019-£274,077) remained outstanding at the Balance Sheet date.

During the year the charity invoiced rent and other charges to Paradise Wildlife Park Ltd amounting to £230,714 (2019-£52,249). The amount outstanding at the year end was £34,209 (2019-£400). Costs recharged to the charity by Paradise Wildlife Park Ltd in the year amounted to £75,521 (2019£982,091) of which £43,935 (2019-£15,969) remained outstanding. An amount of £3,684 (2019£5,732) was due from Paradise Wildlife Park Ltd at the year end in respect of visitor and other sundry income.

Page 26

continued...

THE ZOOLOGICAL SOCIETY OF HERTFORDSHIRE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

21. RELATED PARTY DISCLOSURES - continued

The charity recharged a proportion of administrative salaries and other costs amounting to £59,607 (2019-£27,161) to The Big Cat Sanctuary Ltd (BCS). During the year, the charity donated services for animal feed, fuel and labour costs valued at £nil (2019-£30,640) and has been included under donations.The charity also received a donation of £100,000 during the year. This company is also a registered charity in which L K Whitnall is a trustee. The amount due from BCS at the year end was £7,211 (2019-£7,045).

Parkside Construction Services Ltd invoiced £380,000 (2019-£400,000) in the year of which £nil (2019£250,000) was outstanding at the Balance Sheet date.

The charity paid £20,000 (2019-£20,000) to Valverde Ventures Ltd (2019-Gininet Ltd) for consultancy services provided by Stephen Sampson in the year under review.

Salaries and benefits totalling £90,250 (2019-£86,339) were paid to Messrs Aaron, Tyler & Cameron Whitnall during the year.

Scott Sampson received salary and benefits amounting to £20,767 for the year (2019-£23,941).

Page 27