REGISTERED CHARITY NUMBER: 1108609
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
HERTFORDSHIRE ZOO
HERTFORDSHIRE ZOO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Report of the Independent Auditors | 5 to 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Cash Flow Statement | 11 |
| Notes to the Cash Flow Statement | 12 |
| Notes to the Financial Statements | 13 to 24 |
| Detailed Statement of Financial Activities | 25 to 27 |
HERTFORDSHIRE ZOO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report with the financial statements of the charity for the year ended 31 December 2022. 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Hertfordshire Zoo 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
HERTFORDSHIRE ZOO
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENTS AND PERFORMANCE
2024 has been a landmark year in the history of Hertfordshire Zoo, marking both a bold new chapter in our identity and a continued commitment to excellence in conservation, education, and visitor experience.
Rebranding and Transformation
After over 40 years as Paradise Wildlife Park, we proudly rebranded to Hertfordshire Zoo in January 2024. This transformation was far more than cosmetic - it symbolised our evolution as a modern zoo with a growing national presence. The zoo closed for five weeks to carry out extensive works, including the implementation of new signage, staff uniforms, retail products, and digital content to reflect the new brand across all touchpoints.
Awards and Recognition
Our dedication to excellence was recognised with multiple prestigious awards this year:
East of England Tourism Awards: Experience of the Year (Big Cat Feed - Winner) and Attraction of the Year (2nd place)
Muddy Stilettos Awards: Best Family Attraction of the Year
BIAZA Annual Conference Gala Dinner: Two Gold Awards - Best New Animal Habitat for the sun bears and Best Marketing Campaign featuring sun bear costume ambassadors
Media and Outreach
The fifth series of our popular wildlife TV show, One Zoo Three, aired this year, bringing our total episode count to over 50 and continuing to educate and inspire families nationwide.
Animal Highlights & Conservation
We welcomed several new animal arrivals, including Ash the red panda, Nirvana the binturong, a newborn pygmy marmoset, and a baby capybara. In conservation, team members Amy and Emily were awarded a special grant to visit the Red Panda Network, deepening our partnerships and field knowledge. A particularly proud moment was celebrating Newt the gibbon's 50th birthday, coinciding with the launch of Gibbons: Song of the Forest - a new immersive habitat showcasing our long-term commitment to primate care.
Financial and Capital Developments
2024 was a year of substantial investment across the zoo. Major capital projects included: The full-scale rebranding initiative
Construction of Gibbons: Song of the Forest
Creation of the IUCN Native Species Trail to enhance connectivity between key areas of the zoo Development of a new bespoke website and integrated e-commerce & EPOS platform
Expansion of infrastructure: new Car Park 4, improved zoo driveway entrance, relocation of compactor and storage facilities to Car Park 3
These strategic developments have not only improved our operational capabilities but also elevated the visitor experience and strengthened our conservation messaging.
As Trustees, we are immensely proud of the progress made in 2024. Our team's energy, creativity, and resilience have laid a strong foundation for the future of Hertfordshire Zoo, and we remain committed to our mission of Sharing the Wonder of Wildlife and inspiring the next generation to love, learn about, and protect wildlife.
FINANCIAL REVIEW
Financial position
Total income for the year amounted to £8,657,160 (2023-£8,153,405) and total expenditure £8,881,787 (2023-£7,154,278). Net movement in funds for the year was a deficit of £224,627 (2023- surplus £999,127). As at 31 December 2024 reserves amounted to £9,245,183 (2023-£9,469,810).
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HERTFORDSHIRE ZOO
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
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 six months expenditure estimated to be £4,000,000. At the Balance Sheet date net cash balances amounted to £3,840,697 a decrease on the previous period of £926,623.The directors will continue to manage the charity's finances on a prudent basis going forward. The directors' objective is to to maintain cash reserves to at least six months expenditure as far as possible.
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.
Key Management Remuneration
The Trustees carry out an annual pay review to ensure that the charity's pay levels are fair, competitive and an effective use of Charity funds.
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.
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
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HERTFORDSHIRE ZOO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
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".
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
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping 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.
09/25/2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Matt Brady (Sep 25, 2025 20:42:55 GMT+1) ZSH Corporate Trustee 1 - Trustee
Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HERTFORDSHIRE ZOO
Opinion
We have audited the financial statements of Hertfordshire Zoo (the 'charity') for the year ended 31 December 2024 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:
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give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
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.
Matters on which we are required to report by exception
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HERTFORDSHIRE ZOO
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:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
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.
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.
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 there was evidence of bias by the directors that represented a risk 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.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HERTFORDSHIRE ZOO
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.
Maurice Brindley FCA BSc (Senior Statutory Auditor) for and on behalf of Brindley Millen Ltd Chartered Accountants and Statutory Auditors 167 Turners Hill Cheshunt Hertfordshire EN8 9BH 09/26/2025 Date: .............................................
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HERTFORDSHIRE ZOO
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
| 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) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 969,233 7,425,616 126,069 123,727 12,515 8,657,160 85,341 1,743,814 7,052,632 8,881,787 (224,627) 9,469,810 9,245,183 |
Restricted funds £ - - - - - - - - - - - - - |
31.12.24 Total funds £ 969,233 7,425,616 126,069 123,727 12,515 8,657,160 85,341 1,743,814 7,052,632 8,881,787 (224,627) 9,469,810 9,245,183 |
31.12.23 Total funds £ 784,681 7,104,945 169,073 84,445 10,261 8,153,405 55,203 1,681,590 5,417,485 7,154,278 999,127 8,470,683 9,469,810 |
|---|---|---|---|---|
The notes form part of these financial statements
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HERTFORDSHIRE ZOO
BALANCE SHEET 31 DECEMBER 2024
| 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 Restricted fund funds £ £ 2,186 - 4,940,584 - 4,942,770 - 33,036 - 1,090,669 - 4,224,113 - 5,347,818 - (861,989) - 4,485,829 - 9,428,599 - (183,416) - 9,245,183 - |
31.12.24 Total funds £ 2,186 4,940,584 4,942,770 33,036 1,090,669 4,224,113 5,347,818 (861,989) 4,485,829 9,428,599 (183,416) 9,245,183 |
31.12.23 Total funds £ 2,186 4,414,300 4,416,486 35,719 916,896 5,350,691 6,303,306 (866,611) 5,436,695 9,853,181 (383,371) 9,469,810 |
|---|---|---|---|
The notes form part of these financial statements
continued...
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HERTFORDSHIRE ZOO
BALANCE SHEET - continued 31 DECEMBER 2024
FUNDS Unrestricted funds TOTAL FUNDS
19
| 9,245,183 9,245,183 |
9,469,810 |
|---|---|
| 9,469,810 |
The financial statements were approved by the Board of Trustees and authorised for issue on 09/26/2025 ............................................. and were signed on its behalf by:
............................................. Matt Brady (Sep 25, 2025 20:42:55 GMT+1) ZSH Corporate Trustee 1 - Trustee
Lynn Whitnall Lynn Whitnall (Sep 26, 2025 05:56:44 GMT+1)............................................. ZSH Corporate Trustee 2 - Trustee
The notes form part of these financial statements
Page 10
HERTFORDSHIRE ZOO
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received Net cash used in investing activities Cash flows from financing activities Loan repayments in year Net cash used in 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 |
31.12.24 £ 364,631 (36,624) 328,007 (1,312,404) - 57,774 (1,254,630) (199,955) (199,955) (1,126,578) 5,350,691 4,224,113 |
31.12.23 £ 1,311,998 (47,387) 1,264,611 (1,363,051) 250 26,715 (1,336,086) (199,999) (199,999) (271,474) 5,622,165 5,350,691 |
|---|---|---|
The notes form part of these financial statements
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HERTFORDSHIRE ZOO
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Interest paid Decrease/(increase) in stocks Increase in debtors Decrease in creditors Net cash provided by operations ANALYSIS OF CHANGES IN NET FUNDS At 1.1.24 £ Net cash Cash at bank and in hand 5,350,691 5,350,691 Debt Debts falling due within 1 year (200,000) Debts falling due after 1 year (383,371) (583,371) Total 4,767,320 |
31.12.24 £ (224,627) 781,868 4,252 (57,774) 36,624 2,683 (173,773) (4,622) 364,631 Cash flow £ (1,126,578) (1,126,578) - 199,955 199,955 (926,623) |
31.12.23 £ 999,127 701,937 27,045 (26,715) 47,387 (12,785) (402,608) (21,390) 1,311,998 At 31.12.24 £ 4,224,113 4,224,113 (200,000) (183,416) (383,416) 3,840,697 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
The notes form part of these financial statements
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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.
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.
Support costs include general management, information technology and human resources costs.
Irrecoverable VAT is charged as an expense against the relevant activity.
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES - continued
PATENTS AND LICENCES
This represents legal costs incurred to date on trade mark applications and are not amortised. The carrying value is reviewed each year and if a write down is appropriate, is included in the Statement of Financial Activities.
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 £750 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.
OPERATING LEASES
Rentals under operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred.
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES - continued
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 3. OTHER TRADING ACTIVITIES Charity events Cabin sales |
31.12.24 £ 22,398 946,835 969,233 31.12.24 £ 42,974 83,095 126,069 |
31.12.23 £ 45,393 739,288 784,681 31.12.23 £ 77,591 91,482 169,073 |
|---|---|---|
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 4. INVESTMENT INCOME Rents received Interest receivable 5. INCOME FROM CHARITABLE ACTIVITIES Activity Visitor income Animal park Other operating income Animal park 6. RAISING FUNDS OTHER TRADING ACTIVITIES Purchases 7. CHARITABLE ACTIVITIES COSTS Animal park 8. SUPPORT COSTS Other resources expended |
Management £ 7,046,882 |
31.12.24 £ 65,953 57,774 123,727 31.12.24 £ 7,412,713 12,903 7,425,616 31.12.24 £ 85,341 Governance costs £ 5,750 |
31.12.23 £ 57,730 26,715 84,445 31.12.23 £ 7,096,256 8,689 7,104,945 31.12.23 £ 55,203 Direct Costs £ 1,743,814 Totals £ 7,052,632 |
|---|---|---|---|
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
8. SUPPORT COSTS - continued
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 Trustees expenses Park rebrand Depreciation of tangible and heritage assets Loss on sale of fixed assets Interest payable and similar charges Auditors' remuneration |
31.12.24 Other resources expended £ 1,414,828 133,356 53,880 - 609,000 11,661 90,156 63,331 7,977 88,700 523,008 21,745 77,617 12,412 544,834 666 225,950 82,178 120,095 62,767 664,030 989,127 14,508 488 411,824 781,868 4,252 36,624 5,750 7,052,632 |
31.12.23 Total activities £ 1,150,528 109,100 45,975 6,301 618,000 5,076 79,086 57,967 23,638 75,079 359,051 47,647 69,163 10,264 332,761 9,924 208,887 64,906 110,123 51,401 465,427 696,197 38,031 884 - 701,937 27,045 47,387 5,700 5,417,485 |
|---|---|---|
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
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
Trustees expenses of £488 (2023-£884) were incurred in the year under review.
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
31.12.24 £ 2,549,529 225,824 53,880 2,829,233 |
31.12.23 £ 2,233,083 187,451 45,975 2,466,509 |
|---|---|---|
The average monthly number of employees during the year was as follows:
| 31.12.24 | 31.12.23 | |
|---|---|---|
| Animal park and administration | 205 | 185 |
No employees received emoluments in excess of £60,000.
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was as follows:
| 2024 | 2023 | |
|---|---|---|
| £60,000-£70,000 | 2 | 2 |
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 costs of the key management personnel were £642,661(2023£590,264).
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
11. INTANGIBLE FIXED ASSETS
| INTANGIBLE FIXED ASSETS | |
|---|---|
| Patents | |
| and | |
| licences | |
| £ | |
| COST | |
| At 1 January 2024 and | |
| 31 December 2024 | 2,186 |
| NET BOOK VALUE | |
| At 31 December 2024 | 2,186 |
| At 31 December 2023 | 2,186 |
12. TANGIBLE FIXED ASSETS
| COST At 1 January 2024 Additions Disposals Reclassification At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year Eliminated on disposal At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 |
Improvements Assets in to course of property construction £ £ 154,906 395,788 368,287 571,059 - - - (933,090) 523,193 33,757 70,671 - 52,319 - - - 122,990 - 400,203 33,757 84,235 395,788 |
Short leasehold £ 3,650 - - - 3,650 3,650 - - 3,650 - - |
Animal enclosures and attractions £ 5,601,406 1,210,509 (10,477) - 6,801,438 2,009,258 617,880 (6,226) 2,620,912 4,180,526 3,592,148 |
|---|---|---|---|
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
12. TANGIBLE FIXED ASSETS - continued
| Fixtures Plant and and Motor machinery fittings vehicles £ £ £ COST At 1 January 2024 268,783 2,640 259,219 Additions - 86,938 - Disposals - - - Reclassification - - - At 31 December 2024 268,783 89,578 259,219 DEPRECIATION At 1 January 2024 123,198 2,370 85,766 Charge for year 36,396 17,658 43,363 Eliminated on disposal - - - At 31 December 2024 159,594 20,028 129,129 NET BOOK VALUE At 31 December 2024 109,189 69,550 130,090 At 31 December 2023 145,585 270 173,453 13. STOCKS Goods held for resale 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income |
Computer equipment £ 135,795 8,701 - - 144,496 112,974 14,253 - 127,227 17,269 22,821 31.12.24 £ 33,036 31.12.24 £ 466,414 481,232 143,023 1,090,669 |
Totals £ 6,822,187 2,245,494 (10,477) (933,090) 8,124,114 2,407,887 781,869 (6,226) 3,183,530 4,940,584 4,414,300 31.12.23 £ 35,719 31.12.23 £ 175,306 503,632 237,958 916,896 |
|---|---|---|
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 £ Bank loans and overdrafts (see note 17) 200,000 Trade creditors 98,303 Social security and other taxes 25,642 Other creditors 21,996 Accruals and deferred income 516,048 861,989 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.24 £ Bank loans (see note 17) 183,416 17. LOANS An analysis of the maturity of loans is given below: 31.12.24 £ Amounts falling due within one year on demand: Bank loans 200,000 Amounts falling between one and two years: Bank loans - 1-2 years 183,416 Amounts falling due between two and five years: Bank loans - 2-5 years - |
31.12.23 £ 200,000 184,195 13,390 19,881 449,145 866,611 31.12.23 £ 383,371 31.12.23 £ 200,000 200,000 183,371 |
|---|---|
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 was paid by the UK Government and no repayments were required in this period. The loan is unsecured.
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
18. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years |
31.12.24 £ 600,000 600,000 1,200,000 |
31.12.23 £ 600,398 1,200,000 |
|---|---|---|
| 1,800,398 |
19. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.24 £ 9,469,810 9,469,810 |
Net movement in funds £ (224,627) (224,627) |
At 31.12.24 £ 9,245,183 |
|---|---|---|---|
| 9,245,183 |
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 8,657,160 8,657,160 |
Resources expended £ (8,881,787) (8,881,787) |
Movement in funds £ (224,627) (224,627) |
|---|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 8,470,683 8,470,683 |
Net movement in funds £ 999,127 999,127 |
At 31.12.23 £ 9,469,810 |
|---|---|---|---|
| 9,469,810 |
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
19. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 8,153,405 8,153,405 |
Resources expended £ (7,154,278) (7,154,278) |
Movement in funds £ 999,127 999,127 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 8,470,683 8,470,683 |
Net movement in funds £ 774,500 774,500 |
At 31.12.24 £ 9,245,183 |
|---|---|---|---|
| 9,245,183 |
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 TOTAL FUNDS |
Incoming Resources resources expended £ £ 16,810,565 (16,036,065) 16,810,565 (16,036,065) |
Movement in funds £ 774,500 774,500 |
|---|---|---|
Wild Tiger Health Centre-resource accessible to rangers and veterinary staff working in the field.
continued...
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HERTFORDSHIRE ZOO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
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 £53,880 (2023-£45,975) represents contributions payable by the charity and includes those paid to the personal pension schemes of certain employees.Contributions totalling £20,580 (2023-£13,037) 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 and Paradise Wildlife Park Ltd and Park Construction Services Ltd and the corporate trustees companies which control the charity.
In the period the charity paid rent and other costs from Parkside Leisure Ltd amounting to £1,251,111 (2023-£1,003,744).The charity invoiced £825 to Parkside Leisure Ltd. The amount due to the charity at the year end was £76,953 (2023 -£nil).
During the year the charity invoiced rent and other charges to Paradise Wildlife Park Ltd amounting to £1,077,652 (2023-£1,002,425). The amount outstanding at the year end was £358,282 (2023£157,670).
Costs recharged to the charity by Paradise Wildlife Park Ltd in the year amounted to £398,242 (2023£367,257) of which £19,462 (2023-£69,481) remained outstanding.
The charity recharged a proportion of administrative salaries and other costs amounting to £19,756 (2023-£53,424) to The Big Cat Sanctuary Ltd (BCS).. This company is a registered charity in which L K Whitnall is a trustee.The amount due from BCS at the year end was £11,153 (2023-£16,396).
The charity paid £18,000 (2023-£18,000) and £72,000 (2023-£72,000) to In The Players Lounge Limited and Legends & Icons Club Limited respectively for consultancy services provided by Stephen Sampson.
Salaries and benefits totalling £158,798 (2023-£142,395) were paid to Messrs Aaron, Tyler & Cameron Whitnall during the year.
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