Registered number: 08250951 Charity numb•r. 1150158 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company Ilmlted by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 "ABDFN1711¥ 2710912022 COMPANIES HOIJSE A15 *205 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA UMITED IA ¢¢)mpany limiled by guarantee CONTENTS Page Relerence and admlnistrative details of the Cofflpany¥ its Trustees and advise Chairnian'$ ststement Tru$lee$' r•port Independent auditors. r•port on th• financial statements C¢D$olidated statement ol ffin4n¢i•l a¢11￿$ 4-18 19.-22 23 Consolidatsd balance sheet 24 Company balance sheet Consolidated stat•menl of cash Ilows 25 Notes to the financial sL*ements 27-49 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Trnstees G F Srnith, Chainnan J C Pearson F E Barrelet J J Goodson C A Bixby A Hassan The Trustees are aLw Directors of the Company. Company registered number 08250951 Charity regist•red number 1150158 Registered office ZSEA Zoo Hq The Zoological SO¢￿ ol East Anglia Kenninghall Road Banham Norfolk NR16 2HE Independent auditor5 Lothing GowEn LLP Chartered Accountants ng Street House 15 Upper King Street N0￿ch NR3 1R8 Bankers Uoyd$ Banking Group plc 3 Market Hill Diss IP22 4JZ Chief Executive C Roberts .Page 1 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA company limited by guarnntse CHAIRPAAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 The Chawman is pleased to present his statement for this, our ewJhth year of operation. Following 7 months of National 1o¢kthJ¥￿ duriry 2020 and 2021, Vlith our ¢harltoble delivery only possible because of revenue generated ty the operation of Banham z￿￿O91Cal Gardens and. Africa Alive Zoological Re5eNe, the society is delighted to have over¢ome the financaally perilous situation from lost income during this period. This was achieved through a signrficant grant from the Zoo Animal Fund. for vA)th the society is extremely grateful. and which ensured its SUFYival.' cost cutting on all non-essential spend: a redundancy programme" and charitable donationslfurKlraising by the general public. These enabled the society to survive, rebuild fin*na•l reserves, ond protect the fulure of both zoos. The outlook for 2022 1$ th* remain mindful of macwecorwnic and geopolitical risks. We are now able to reinvest in our peo￿. ¢ariwng OLrt planned maintenan¢e on our animal en¢l¢Jsures and devdop systems, to Continue to generate the strong and resilient resutts seen in the past year. The key highlights for 2021 wete:" To have ret￿111 our financial charilable reserves and being financially able to rebuild our tegm$ thank$ to the support of the Govemment Zoo Animal Fund and the generosity of community fuThJraising. Connecting in nature 212,539 vis10￿ at Banham ZtsStyi¢al Gardens ond 177.079 visitors at Africa Aive Z￿rogICal Reserve duriNJ 2021 dewe being dosed for four months. The wtstanding reslience cl al ow cdleagues m8intsining our animals, faclilies, arwj estates durfng 8 period of suth s￿smIG change. Supporting new vital conseryolion partnerships with TUSK for cye8r plan continues our pledge to connect c£•mmunitres to nature for cortservation. Despite the extenua¢ing arcuMs¢an￿$ of COVILk19. we are cI from the ZAF fuThd vthi¢h ensured the suNiv81 of bott) zoos. With zoos providing the continuous provision of animal care and ongoing fixed costs associated with animal keeping - feed, heating. arKI seovity - the Zth) Anirn￿ fund rninimised the impxt of the Covi&19 crisis on animal wellare. Page 4 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED (A company limited by guarnntee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Oblectlves and Activities a. Policies and obj•¢tiv•s In 2021, our principal aims ￿Ere. FO￿Sed on survlval of the Souety lollo*ing a loss of income in excess of £2 million as a result of the three lockdovm5 Scrutinising and redudThJ costs for ￿NIVal and then keeping c¥)sts under ct)ntr Seeking funding through Govemment support schemes Ensuring the safety of stsff and vigtors during the pandemi Focusing on revenu￿enerating activitie$ Rebuilding the &month reserve poficy Continuing to fulfil. there possible. our mission objectives Rebuilding management and leadership teams fotlo*ryng the major restruthjre in 2020 In 2021, we a¢hieved'. An increase in GTOUP Revenue from £6.31XI.926 in 2020 to £8.635.185 in 2021. athough il should be noted that the 2021 figure includes the exceptional Zoo Animal Fund Grant. the CJRS Government grant and significant donations frc*n the #vAldaboutsur¥ival Campaign. An increase in both visitor income arKI trading activity despite a four monlh dosure period missing both February half tem arKI the Easter holiday revenue in 2021. wI￿tOr incy)me increased by £822.239 due lo lockdovm boun¢e-ba¢k and £5 days wpportirrfJ the NHS Five ways of wellbeing in conjunction wth MIND Norfolk Waveney, and improvements to Fwodu¢t rarw auoss retail and catering in both parks, increased trading activity income by £768,599 Ihough reVenue-ge￿raIed activities. Increased visitor numbers across both sites. despite four months of National Lockd￿ between Januwy and ApfFI 2021. Wi*tor numbers grew by 23.362 more visttors at Afiica Aive Zoo]c*3ical Reserve and 37,436 more visitors 8t Banham Zoological Gardens for the year. Our aim to rebuild our charitable reserves. The socAety now maintains cash reseNes equlvalent to the minimum costs that VKwld be incurred during a four4nonth period during shouhd the parks remain closed. The sodety was 8vparded the Green Rec£Jvery Challenge Fund. a govemment fund developed by Defra in partnership *ith its Ams-Length Bodies 5thid). the Trustees of the National Heritage Memorial Fund INHMFI administer on behalf of Defra. The Grant of £95,3(KJ enabled the society to kick-start nature recovery programmes followng COVID and protect the endangered native, white4lawed crayfish from exlinclion. A new vital o)nswvation partnership vthh TUSK for conser¥alion. education. community projects across Africa vknich included a donation of t20.(￿ in O¢lober 2021 Formed a new community partnership vJith MIND Norfolk & Waveney to raise 8vArene$s of mental health issues across ¢)ur communities and the benefits of connecting peacEfully in nature Built new educational partnerships with the Werwm Trust and University of East Anglia Apwinted Afie Bo*tn. a5 Charity Ambassador. championing neurcxliversity and the benefits of connecting in nature through photography In setting objectives and ￿annIng for a¢aivities. the Trustees have given due ¢on$ideration to general guidance published by the Charity Commi￿On relating to public benefrt and have complied wlh their duties in accordance wlh the Charities Acl. Page 5 THE Z¢)OLOGICAL SOCIETY OF EAST ANGLIA UMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 310ECEMBER 2021 ObjKlives and A¢livitt•$ (Mntinu•d) 1.1 The charlty'$ objects (the Ob5e¢ts) arn: 1.1 (a) the advancement ol education and zoology and related subjects by: il inspiring. stimulating. enc%)Lragiry and *8iniry interest and enthusiasm in the put4ic in zoolovJy and the kr￿wledge and stuty of animals and other wildlrfe by establishing and running one or more zoological gardens or similar s¢ientifi¢ exhikntion. ill promoting and carrying out scientific study and research into animals and other wldlife and natural hSstory and related scientific fields vknere suth study and research ccMJld help the conseTh8tion of species and habitats and the maintenance and restorakn.on of natur￿ hatxtats. lill inspiring and engaging vAth the public in matters reiglir*J to Ihe living worfd and the environment and general environmental protection. 1.1(bl the advancèment of animal welfare by: i} promoting and caTwng cwjt scyentific study and researth into animals and other vmldlife and natural history and rd8ted s¢ientifi¢ fields 4%there su¢h study and researth Could help the ¢onseTvation of species and habitats and the maintenance and restoration of natural habtts. ii) promoting and wntributing to and SUPF4)itirwJ the cOr￿erVation of animals and wildlife and in particular threatened $pe¢ies. iiil promoting and contributing to and Y4Jpwting c4Mver5ation programmes both in situ and ex ￿1￿. iv) inspiring and engaging interest of the pubfic in animals and wldlife and in parti¢ular th￿atened species. v) promoting and contributing to C£ftseNatiC￿ of animals and other wtldlrfe, ￿￿)￿l¥e[s1ty. and natural habitats in the UK and World￿"de. vi) the appropriate breeding and or maintolniro of endaryred •ntmal$ aThJ threatened ￿e$ and other Idlife. vii) establishing and ru￿￿￿ one or more zoJlogcal gths. 1.1 (c} the advancement of •nvironmental protection by: il promoting and ¢ontributing to and yjpwting the rxffiservation of animal$ and other wildlife and in particular threatened species. ill inspiring and engaging interest of the public in conservatiijn of animals and other vAldife and in particular threatened species. iii) promoting and contributing to the ¢onservotion of animaks and olher wildlrfe, biodiversity, and natural habits in the UK aTrJ %wrldwide. iv) engaging wth the public in matteTr relating to the livirvJ arKI environment and general environmental protection. v) promoting and contributing to and supporting cx)nservation wogrammes b)th in sibj and ex situ. 1.1(dl the advancement of such other charitabl• objects and purposes as thè Trustees may in their sole discretion deterniine Irorn time to time. b. Aetivities for a¢hleving objeelives , Our misson is to Presefve Wild Futu￿ by protecting endw SFwes. inspiring, •rKI engaging wth the fasanation of nature. and to spark a lifelong interest in people of all ages to help u$ protect the rich diversity of our precious wodd, for all our futures. Ow z(xJloNJical teseNe and Z￿lOgICal gafdens are places where everyone can connect peacefully vthh animals and enjoy native wldlife. flora. and fauna in our green open spaces, improving V•*llbeing. Jr 5-year strategic plan sets tyjt our direction as we rethemerge from the Pa￿Jemi¢. slronger and leaner. Page fj THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITEO (A ¢ompany limited by guarantse) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Objectives and Activities (¢ontlnuedl During the next five years. the Soaety *ryll become a more effective ￿nSerVatIon and education charity continuing our commitment to conservation. educalion and communty partnerships which benefit our world and those that live wthin it. We ale ambitious. We want lo be the drfferertce the wortd needs. We ￿nI to be the leading examrAe of lThv to eduL3te people in natwe and about nalure. Conservation edu¢ation lies al the heart of everything we do. and V+E wanl to actively erKourage every visltor to activefy consider howvR live, N%*xk, and leam in more $ustsiftable ways to prtslecl our plar*t every day. Over the next S yeats, we will Gontinue our aim to: Save endangered species from extinction by playirvj a key role in wiservation and measurably improving biodiversity, with a fo¢us on native spe¢ie& Educate atsout nature, in nature and foster eroagement Imth the natural ￿rtd EmFfftr people and local cxrfnmunities to make F￿lIve thanges by promoting the connection between nature and wellbeing Put sustsinability al the heart of our long-lerm Visic￿ and The have ambitiou$ goals We have set ourselves five obiecbves to enat4e us to deliver our charitable purpose: 1. Preserving Wild Futures Our aim is to increase our tt*iserv8tion deperKlent arimal spe¢ies cn sile to 80% by 2026 and be a real force for Cr)nse￿all0￿ suc¢ess 2. Engaging our Public Engaging the public and our communities to have meaningful experiews lo encourage positive actions. urgently needed to preserve wld futures and $L￿taIn wr environment and *Jdre$s the dimate and eeologi¢al emergencies of today. and so is al the heart of our pfan. 3. Creating Conserv*ionists Through IMp￿ttu1, visual experiences and educatiorkil but inspiring facilities- aim to provide visitors the t0￿S they need to take thal firnt step on a ry)nse￿all￿ iourrw. to make a difference for everyone's future a5 we ¢ontinue our objective to.. Educole ABOUT Nature By &￿vidIng a wde lange of high-quality educatic￿al r)pportunilies that ojnnecl our communitie5 to nature. with the aim of deepening public awareness and knovAedge of biodiversity and sustsin8bility in a relatable. inspiring. and ertrJaging way. vthich allows emotional corw*¢tions to nafvre to be created. Edu&ile IN Natuve Playing an active role in helping our guests lo¢al wnmurlties to ¢))nnect with nature by spending rnC￿e lime outdoors given the massive quantifiatde benefrts for education and wellbeing. Paue 7 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA company lirnited by guardntee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Objectives and Activities (continued) Educating FOR Naturn En¢¢Jurage behaviour ¢hakV for ¢ help fight the dedine in global bloth.ve￿ty. Native Spe¢ie$ Conservalion In 2021 Banham Zoological Gardens, as part of our ccrfnrn¢lment to the native species conservation programme focused on: Whitellawed Crayfish Restoring the endangered. White4awed crayfish Populati￿ across Norfolk. made w)ssible by a grant from the Green Recovery Challenge Fund vthith is enabling us to support restore the endawed, While•¢lawed crayfish powlation a¢ross Norfdk. Our on-site crayfish hatchery errabjes us to suCcessfu￿Y re¥ Ond then ￿lease into safè sites these endangered native freshwater invertebrates %Mth integral collaborati¢)n from the Nortolk Rivers Twst. This proje onlribules lo Stabill￿ng the White4lawed crayfish population numbers in the wild as they are facing 8 devast8ting decline due to the pressures of habitat Ioss. [￿llutIOn. crayfish plague and competition from invasive spe¢ie$ su¢h as the North Ameri¢on sigMI ¢rayfi5h. Page 9 THE ZOOLOGICAL SOCIETY OF EAST ANOLIA LIMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Objective$ and Activitles Icontinuedl Turtle dtsv•s. In collaboration wilh the RSP8 and their'operation Turtle Dove, project. ZSEA have allocated a section of land at Banham Zoological Gardens to ¢reate suitable and enliciThJ habitat for the turtle dove, a bird species in the UK. now one of the fastest dedining bird specie& This woject not ￿lY 4rengthens our extemal conseTvation partnership$ but also enhan¢es our educational aims and values to inswre guests to uTrJerstand more a￿t our incredible native b￿1ve￿￿ty. Cons•rvation Funding Despite the financially perilous ￿tUatiOn due to the lost income during lOckd￿￿S in the pandemic. we were able to recommence ¢onservation funding by the end of 2021 through a new partne¥ship TUSK, those mission is to amplify the impact of F￿re￿Ve cOnse￿a￿On initiatives across Africa. ZSEA designated funds from viglor inwne to enat4e TUSK to Wlner the most effective local organisations. investing in their in4epth knrythedge aThJ expertise. gjpwting 8AM1 nurturing prole¢t$ In ¢onserv•lion, eduCatic￿. arKI community. ZSEA'S support to TUSK is conlribubng to.. Uganda Conservation Fcmjndation - providing much needed operational gjpport to the Uganda Wildlife Authtyity and equipment to wildlife rarvJers working to protect wildlife in Murchison Falls National Park. PACE (Pan African Conservation Education} - ￿ have recently printed more educational materials, induding 2000 additional Co￿e$ ol the main PACE Pack - Africa our Home. and 1900 copies of the Energy aNI Climate Change supplemenl in Fren¢h. These have been sent OLrt lo ¢ommunilses in 11 countries across Africa. delivering quality environmental edwtion. Painted Doj Crx)seNation. zimbab￿ - ZSEA are supp(Yb"ng Anti￿¢hIng unitie$ in their work to monitor and protect the panied doJ populatiorts in aTrJ arwThl Hwar¥Je National ParK particulady from the threat of snares. Conservation Ethcalion The Cc*wrv8tion Educstion Strategy fo(#Jses on Ihree main areas: Educating ABOUT Nature By providing a Trmde raroe of high-quality edLtcational opportunitles that conned our communities to nature, ith the aim of deepening PU￿1¢ awareness and knowledge of biodiversity and sustwnability in a relatable. inspiring. and engaging way. which allo￿ emotional eonnedions to nature to be ¢￿ated. Educating IN Nature Plawng on active rde in helpiThJ our guests and local ￿nMunitieS to o)rw)ect ¥*ith natwe by spending more time ouldoors given the massive quanbfiatrle ￿nefft$ for education and well￿ng. Page 10 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UIIITED {A company limited by guarnnte•l TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2021 Oble¢tSves and Activltles (￿ntInued) Edu¢atlng FOR Naturn Encourage behaviour change for conservati¢)n by engaging and emptrhwir¥J guests to take actlon to live sustainably and protect nature. Connection lo nature ha$ been prDved to be Fti¥tively related to conservation behaviour, so by increasing our guests. nature connections, vA)ilst empowering them to make sustainable ch￿ces, we can make a positive contribution to nature i))nservation. In 2021. with much of the year in l¢xkth)vms or with schcx)I trips cancelled. the education department developed Zoo School, a unique partnership ena￿Ing teachers to use erwing and interactive animal Conservation content, linked to the wence ¢urri¢ulum. Zoo S¢hcxJl is a mix of fa¢e•tO•face zoo experien¢e$ and online sessions and content. We help tead)ers to make even more of their class zw visit by extending the leaming back into the dassroom after your visit thI￿gh digital technolc•3y. Our uniqLse proposition has been nominated for a BIAZA Educational Award. Communlty Strategy Developments Zoos for All The ac¢essibility aud(( at BZ raised 8 lew issues vthich *Ere pos1por￿d due to COVID hoknEver thls Y￿rk has now recommenced in early Spring 2022. Working V*ilh the Norfolk Courty Courw>l traded EDI seN1￿. the &year plan V•ill support delivery of improved aceess for all al both Banham Zoolc43ical Gardens and Africa Alive ZoDtts3ical Gardens. As speciaFist advisors to ZSEA. the NCC a¥rard￿lnnin9 team is nationally recognised for their outstanding work on access and Indus￿ arKI their recent suc¢esse5 Ind￿je *inning the B8A4 Leon8rd Cheshire Award for Most InClu￿Ve Venuelorganisation beatir@ a UNESCO Worfd Heritage ￿te and y￿re finalists in the 2022 British Council for Offices award for inclusive design. Driven by a desire to make Norfolk the most county in the untry, they provide ZSEA with the technical expertise to advise how to meet our ambitious &year goals. Our Autism Awdreness sbrjrk remains an important focjjs. In Autumn 2021, the critically acdaimed wldlife photographer. Afie Bowen. vras appointed as Charity Ambassath)r. Afie Bowen embodies the PLbrpose of what we do at ZSEA. connecting people in nature and is an exctbng step fop*drd in whith aims to be inclusive lo all. Wellbeing & Wildlile The wealth of health benefits of connecting V*ith nature is critical. Research from the Mental Health Foundation cites that 45% of people in the UK found that vi￿ting g￿n spaces. helped Ihem lo cope wth the stress of the COVID-19 pandemi¢ explaining the surge in our visitor numbws following National Irxkdowns. The bounce- ba¢k and unprecedented demand due to a need to reconnect in natu￿ family and friends in outdoor spaces resulted in 26.881 more visitors in Juty and August 2020 and 13.7CKJ more visitors in July and August 2021 al 8anham Zoological Garden5 than in 2019 in same period. Similarfy at Africa Aive Zoological Reserve. 17.679 rn0￿ vi&lors in July and August 2020 and 6.122 more ¥i￿10[S in July arKI August 2021 versus same period in 2019. The increased visitors f￿ntIlbu1ed to unexF*(#ed grovAh in vtsitor iT￿l)rne and seccrf)dary spend aiding the financial recovery. Page 11 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Objectives and Activities (continu•d) Our plan ¢ontinues our commitinent through the further d•vtlopment of partnerships, such as: Veterans The Armed Forces Covenant Funds Trusys charter is to ensure that serving mililary personnel and veterans are not disadvanloged in theiT acce58 to service& ZSEA are %KJrking ￿ the Clinical Director of the Royal Britith Legion and ¢ounty-level Covenant Offi¢ers to understand how ZSEA ￿lId be 8 provider of wellbeing services for Veterans under Ihe green social prex¥ibing scheme funded by the Covenant. Mental Health Working with the A¢ce5s Community Trust. a local oTrJanisation ZSEA lthed alongside prethCy)vid on the delivery of our cg)mmunity strategies promoting Mental health and ¥*Ellbeing benefits in connecting lo nature. arKI NHS practices in our local communities. our &year pian aims to recomrnence social PTe5¢ribing partne￿ipS improving the mental health in cw communities. ZSEA'S partnership %Mth N¢xfolk & Waveney Mind promotes mental health aWarer￿ and provides suicide prevention training. In 2021. May 1￿. 3.3￿ people visited Banham Zoological Gardens for a joint ZSEAJMind promotion of UK Mental Health Awareness Week. Activities included mindfulness walks. information point$, quiet zones. ZSEA 1$ working the Recovery Triap Team to understand how the ZSEA can develop further green social prescribing seNices. Volunteers With the uncertainty of future lockdo*n$. il is envisaged that the volunteer pr￿rarnme wll need to be launched fully in 2022 to ensure V+E can once again engage our arna￿ng team of volunteers as well as investigating potential new opptsrtuntlie$ for them. In May 2021 we held meetings with volunteers across both sites lo further communicate the seismic changes the ¢harity had overcome during 2020 and reengage with Ihem on our mission and conservation priorities. d. Raising funds M8intsining parks to the constsnlly improving standards set means Ihal most admission Income Is Spent on the day-tO&day animal care arKI ￿lfare cost. This means that fundin9 to support our conservation work both at Banham z￿ and Afri¢# Alive, whith in 2021 to lockdowns be¢•me an increasiThJly rnore diffiujlt feat as the months went on. must come from other sources. Our fundraising activity was therefore f(Kused on a th¥ildatthtsurvNal campaign rai&ng more than £1W,000 from community fundraisers I￿lch the society is incredibly graleful for. ZSEA JJoe$ not eM￿0Y professional teleptr￿¢ ¢* street furvjraisers or ¢ommercial participators to rarry out our fundrats￿ng activities. ZSEA complies wth all relevant statutory regulab.ons induding the Charities Acl 2011. The Data Protection A¢t 2018 and the Privacy S￿1 Electronic Communications Regulations 2003. ZSEA always seeks to act in ways that are legal. open. honest. and respeclful - striving for best practice. including being registered the FundraI￿ng Regulator, and adhering to its Code of Fundraising Practice and Fundraising Promise. ZSEA is careful to monitor all fundraising activI￿eS and provide supports wth help and inforniation via our We￿te5. by email. phone. oi post. ZSEA wll resp￿￿ to al complaints and received rK> complaints in relation to our lun¢kai5ing a¢tivitie$ in 2021. Page 12 THE ZOOLOGICAL SOCIETY OF EAST ANOLIA UMITED IA ¢ompany limited by gu•rnnteeJ TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Obj•ctives and Activrties (continu￿) •. Fulure d•velopments As we emerge from the pandemic. the Trustees are mirKIftI of both the politi￿7 and economic uncertainties globally and the ￿)n￿nUe￿ staff abserw due to COVID-19. The weather presents an wing uncertainty on visitor numbers and removing pre4>wknng admission only. a covid restr¢clion. ha5 meant visitors to)kings bLxJk 'ju5t in time, waiting for the forecast first. Extreme weather. such as Storm Eunice. Nthich is beojming more frequent due lo dimate change impacted the siles causng closure during a peak half terni *Eek in Feb￿￿ry. Key aim$ fw the next 12 months indude: Grow our nalive spe¢ies conseryalion Work within the Easl of England through collaborations. Introduce fu¢1her conservation resear¢h projects intemally. Develop our consefvation education teachiw programmes to indude corpornle prc*3rammes on sustainability. clirnate change arKI fL•nnections in nature for mindfulness. Continue our work within SEND departments in local schools through outreath programmes. Continue our ￿PpOrt and *rrk wth our charitabie pather MIND. PfomotiThJ fflental health and wellbeing benefits in connecting to nature. Develop new initiatives for our cornmunity to ensure our sPa￿S are accewble for all. Maintain 8 continued emphass on fiscal control espeually given an uncertain economic climate. Maintsining financial reserves now rebuilL to Cover a range of polential stressed scenarh)s. C8pex investsment into continued maintenance of high standards of animal welfare aTra vtherever possible the continuing implementation of the ZSEA Conservation. Conservation Education ar￿ Community slrategies. Driving visitor numbers through effective marketing strategies. Rebuilding and ¢onsolirJaknng teams to improve opertional and c•sl effi0e￿Ies. Market gr¢y•Ah of membership and building community schemes through digtlal advertising. A flattening of three seasA)n81 peaks by maximising all year-round expefien(*s ￿￿th restwranuanimal experience offering Ihroughoul the year. and Continued delivery of increased margins and spend per on catering and retail. Se¢llon B - Finan¢ial Rèvlew . Financial perform￿te The consolidated balance sheel of Ihe group ￿ 31 December 2021 is shown cffi page 24. wlh the consolidated income aryj expenditure account on page 23 and the con￿Idated siatement of cash flo1￿ on page 26. The wup made a surplus in the year of £1.911.616 (2020: £599.759 suwus). due to increases in visitor footfall. secoThJary spend in catering and relail and continuing cost controi and reductions across all areas of the Society and through the lifeline suppjrt from the Zco Animal Fund. all of vthich en$v￿d the survNal of both zoos. The group's net assets are £4.574.134 (2020.. £2.662.518). the increase reflecting the year's surplus. Nel tjrrent assets are £1.573.479 {2020.. £1,289.553}. The key finan¢ial perforrnar￿ indicators are the number of visitors and their wd per head. Page 13 THE ZOOLOGICAL SOCIETY OF EAST ANOUA U￿￿ED (A ¢ompany limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 b. Investment policy and perfomiance The charity has cash reserves for 4 months1£1.25 million) available during the year are placed on bank deposit, although current interest rate$ Provide little return. . Financial impact of locltd¢)wn The Imw of the Covid-19 paThJemic has u)ntinued to overshadN many of the achievements In 2021 wAth cwr parks being closed to Ihe public from 26 Dee*mber 2020 through to 12 April 2021. This resulted in an impact to admission income during this lockdown. along with the previ￿￿5 years impact. which meant the Society was heavily reliant on footfall from Easter onwrards to recoup these costs: this was particul8rfy eh8llenging for us given the largely fixed nalure of the cost base. Actions to address this uisis indude: Zoo Animals Fund grant a￿arded to help Cover costs speufically relatirKJ lo animal ¢are In total of £1.3m. Continuing to utilise the govemment's Coronavirus Job Retention Scheme; and Revitalisation and reimagining of the catering farAlities and offering [￿VIded wthin. to provide a better experierKe for vi%tOTS. Following the l¢xkdo4w. On￿ the parks reopened, visitor numbers h•ve been Stronger than budgeted. We thank our local community for their continued SWF<¥t arKI ge￿ to parks during a difficult and ¢hallenging peric4. The Trustees bdieve that the prcxnpt actions taken in this and previous years. along￿de the support from the Coronavirus Job Retention Scherne and the signifi¢2nt grant from the Zoo Animal Fund. the risk of closure was miligaled and enabled ZSEA to recpen after the 3rd lockdovm in 2021 to a slrong staycatTron sumrner and provirje o Strong fcmjndation for the Company to ￿sportd to the continuity ¢h8llenges that the pandemic will undoubtedly provide. d. Going Concern As part of the TfUStets' consideT•tion of the appropriateness of adopting the goirKJ concem basis in preparing rinancial statements, a range of stressed forecast scenarios hgve been reviewed. The assumptions modelled are based on the estimated potenlial impact of furttw lockdo*ns in Winter 2021122. The modelling also lakes on t*)ard new fiscal policy by the Govemment snce ALrtumn 2021. Ythich has Induded a rise in National Insurance, inryeased inflatim ￿ our ovethead5. the CO51￿-11vlN9 ￿¥15 and rising energy costs. The Society has reserves to o)ver anticipated impact on our cost base and slrain on visitor numbers. These scenarios cover a range of lockdown ￿nariOs impa￿"ng on visitor attendance over varying durations whi15t flexing expenses based on our experie￿￿ during the lockdovm in 2020 and 2021. No allowance has been made v•ithin the S￿na￿oS for additional goyemment SUPP￿ such as further extensions to the Job Retention Scheme or similar supportive inrf¢iatives. Based on these revlews. the TnJ5tees have a reaSona￿e exFeCtath)n that the Company has adequate resources to continue in operational existence for the foreseeable future. For this rea$￿. they continue to adopt the going con¢em ba￿S in preparing the finanrAal ststements. Further details regarding the adoption of ooing concem ba￿S can be foLfftd in the A¢¢ounting Poliae* Page 14 THE ZOOLOGICAL %)CIETY OF EAST ANGLIA LIMITED IA Company limiled by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 . Principal funding The principal source of fU￿ling continues to be from the generation of surpluses from the zoo parks and related trading activities. This is sJpplemented by donalions from visitors. eorporate t*Jdies, and a range of fundraising initiatives. f. Re￿r¥e$ policy The Trustees have revie**d the level of rÈsÈNes required by the Company Group lo ènsure they havè the funds to continue to deliver the tharitYs obj'ectives through fluctuations in inc￿rne and costs. The review was Informed by experience gained during the Covi&19 pandefflic. as well as the wider busness experience of both the Tnjstees and the Execulive tewn. At the year end. the trustees are pleased to report that follov*ing the map)r impa¢¢ in 2020 and Continuing restrictions that remained in place within 2021. that free reserves have returned to a surplus position. The breakdown of such being totsl unrestricted funds of £4.Smillion. with a further £51k in restricted funds. After excluding restricted hjnds and lartgible fixed assets. which cannot be readily converted lo liquid funds. free reserves in the Charity amounted to a Sur￿￿$ of £429k. However, the unrestri¢ted net cu￿ent assets were £1.84 million and cash reserves £2.56 million. The Trustees have set a minimum target level for cath reserves. They consider that it is currendy appropriate that the Cunp8ny maintains cash reserves eqvNalent to the minimum costs that wtyjld be incurred during four-monlh period during vthich the parks are closed. wthich is eslimated at £1.25m. The Trustees and Management vlill continue to monitor reserve levels dosely. particularly given tt)e ongoing e¢onomic un¢ertainty. Trustees o)ntinue to mainlain a cauti￿5 approach to cash reserves. Cash reserves are Currently more than the range formally agreed by the Tnjstees. but this refie¢ts the need to maintain a financial cushion in case of further disruption to our operations during Ihe cjjrrent extratydinary circumstances. %thich include the cost of living crisis and continued risks of the reomergence of disruption from Covid-19. as well as Ihe need lo repay borrowng, induding the CBILS Loan. which V•Ere required to maintain financial stability during the Covid pandemic. As the outlook becomes clearer. we ￿111 Icrtjk to drawdo￿ wr cash reserves in wrdanc£ with our formal policy and furlher ￿41 ambitious plans to progress our charitable obje(*ves. g. Risk Management The Trustees have assessed the major risks to knthich the Cmipany a￿1 the Group is exposed, those related to the operations and finan¢e$ of the Comp8ny and the Group and are satisfied those systems and procedures are in pla￿ to mitigate ow expogjre to Ihe major risks. These systems and wocedures are subject to regular review. The risk register 1$ revievRd at each Finance & Governance cithmittee. annually at the Trustees, meeting and is updated by Management on an onty)ing baws. The key risks identified by the Twstees are: Loss of admission income from extemal fadThs. inc4uding Mac￿econOMic. weather. and extemal factors such as Covid-19. Avian Flu or the o)sl•of4iving Cri￿5" this 1$ addressed through continuing review and adherence with tyjr reserves policy as vrtll as a disciplined arpioath to o)sts. Page 15 THE ZOOLOGICAL SOCIEn OF EAST ANGLIA UMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 310ECEMBER 2021 A major operational issue. impacting safety aTrJ ¢8U5ing reputsticThl damage; this is addressed through deloiled operntional procedures are regularfy tested. he￿th and safety training aTrJ routine inspection. Section C . Structure• governance and management a. Constithtion The Company is registered a$ a ¢haritable company limlted by g￿rantee, ino)rFwated in 2013. The governiro instrument is the Memorandum and Article$ of Aswcba￿0n. The Souety 1$ registered a$ a ¢harity in Englar¥J and Wales. registration number 1150158. The Zcdo9ical Swety of E8St Anglio Limiled O￿l81e$ Banham Zco and Afri(* AINel Including the upkeep and welfare of the animals and all visitor services. conservation expenditure and expendifvre on educalion. The company ovms 100% 01 the share capital of ZSEA Trading Limrted ¥knic* covers the tradiro activities. b. Methods of appointment or election of Trustees The m•nagem•nt of the Comwny the Gro￿ is the respon&bility of the Tnjstees vtho are elected and c opted under Ihe tefms of Ihe Arti¢les of Asg)(#ation. New Trustees are elected followng a recwilmenl process which includes interviews by the Chaimian and Chief Executive. Trustees retire on a three-year rotational basis and may be re*lected rf they put theTnselves forward. In line wlh good goveman¢e the Bo¥d seeks to mointsin a balanced mix of kr￿￿ed9tr, skills, and expertise to manage the assets of the Society effecaively. During the next few years, ZSEA wll be activety reuuiting further trustees with a dNer%ty of skills to suppcvl their charitable objectives. as it is noted that the Trustee rotation is upon us and are therefore looking to re¢ruit to replace. . Policle$ adopl•d for th• induclion and training of Tn Training of Trustees is reviewed against In￿l¥Idual training needs and a full introdudon arKI irKluction to the organisation is given lo new Twstees upon apFK)intrnent. d. Rernuneration poli¢y The trustees considered the Board of Trustees. Managing Oire¢tor (Zoos) and Ihe Managing Dire¢tor (Commercial and Busness Operations) to be the key management personnel of the charity. I members ol the 8oard of TTuslees give their time voluntarily and recave no firbaneial benefils from the charity. Management remunerati￿ is revie*Ed annually by reference to performance and several industry references sources. The Board of Trustees Page 16 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA company lirnited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Stction C - Structur•> gov•rnance and managemont (continued) e. Organisational slNcture and decislon making mernbe￿ of the Soclety's govemlng Board are Trustees of the Society. The Board's role is to oveTh8ee the proper management and development of the Soctety a¢¢ryding to ils aims and obje¢tive$, to ensure that the Society complies with prevailing legi￿atiOn aThl regulations. 3￿j to make d￿ls1on$ on the key matters faryng the Society. The Board mel fomially eight times during the year. The Full Board normally meets four times a year to review strategy and pufomiance. Informal meetings were held in the year wthere Truslees hdd a parti(JJlar are8 of expertise lo supwrt members of the Leadership Team. The remit induded..but was not limited to.. Review7ng the finan¢ial statements and recommending them to the Board for approval: MonFloring implementation of recommendations in audjt reFK¥ts." RSsk management. audit, and invesbnent pYi¢y, Management of govemance and Health and Safety, and Animal Welfare. Atl day-t(￿daY management was delegated to the man￿ng DKeclors until 1 April 2021. at Ythich time this structure was changed to 1 CEO role and the supp¢yt of the Execuiive team. Further to the requirements laid down by Ihe Charity Commission regarding the rep(￿ting and underslaNling of the publi¢ benefit. the Charity's strategies aTrJ activities are tested against the overall objectives of the organisation lo satisfy Twstees that our work is ￿levant and accords with our overall ¢harity endeavour. Page 17 THE ZCIOLOGICAL SOCIETY OF EAST ANGLIA UMITED (A company limited by guaranteè) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Stalement of Trust•es' responslbllilles The TnLStees (vtho are also the directors of the Company for the pwses of company lawl are responsible for preparing the Truslees, report and the firkancial sL*ements in accordance wth applicab￿ law and United Kingdom Accounting StsrKlards (United Kingdom Generally Accepted Accounts"ng Pracb'cel. Company law requires the Trnslees to Prepa￿ financyal statements for each financial . Under company law, the Trustees must not approve the finanaal statements unle&% they are satisfied that Ihey bNve a true and fair view of the 5t8te of affairs of the Group and the Company and of their incoming resources and application of resources, induding their income expenditure. for that period. In Preparing these financial ststements, the Trustees are required to: select suTrlable o¢counkn'ng pKJlicie5 and then apply them ￿nSIsten￿. observe the methods and principles of the Charitses SORP (FRS 1021.. make judgments and accounting estimates that are rea9)nable and prudent stale lthelher applicable UK Acc>)unting Standards IFRS 102) have been follo*d, $ubJ"e¢t to any material departure$ disdosed and explained in the finon¢ial ststements: prepare the financial statements on the going concem basis unless it is inapwowe to presume that the Group wll Contin￿ in business. The Trustees are resPc￿LIe for keeFiThJ adequate accounting records that are suffKient lo show and explain the Group and the Company's transactions and disdose With reasonable accuracy at ¥ny time the financial position of the Group and the Company arKI enatAe them to ensure that the financial statements comply syith the Companies Act 2(X)6. They are also reSpO￿￿e for safeguarding the assets" of the Group and the Company and hence for reasonabte steps for the prevention and dete¢tion of fraud and other irregularities. Diselosure of information to auditors Each of Ihe persons a￿ Twstees ot the time this Tntslees, reFW)rt is approved ha$ Confirmed that.. so far as that TnJstee is aware. there is no re￿vant audit information of Ithich the tharitable group's audito￿ are Una￿￿re, arKI that Trustee has taken all the steps thal ought to have b￿n taken as a Trustee in order to be aware of any rdevant audit inforniation and to e￿blish that the charilable group's a[￿lI01S are aware of that infomation. Approved by order of the membws of the board of Trustees and $i￿￿d on Iheir behalf by: G F Smith Trustee Date.. 22nd September 2022 Page 18 THE Z¢XILOGICAL SOCIETY OF EAST ANGLIA UMITED (A ¢ompany limlled by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED Oplnlon We have audited the financial statements of The Zodogical Society of East Anglia Limited {the 'p8rent charitable company,) and its subsidiaries (the 'group') for the year ended 31 December 2021 which comprise the ConsA)lidated $talement of financial activities. the Consdidaled balance sheet. the Company balance sheet. the C¢)n¥A)lidated ststemenl of cath and the related note5. induding a SLJmmary of significant accounting 'pOli￿e$. The finano81 rew)rting framework that has been applied in their preparation is applicable law and United Kingjom Accounting Standards. induding Finanaal Reporb'ng Standard 102 The Financial Reporting Standard applicable in the UK and RepU￿1C of Irdand, (United ￿ngdorn Generally Accepted Accounting Practice). In opinion the financial statements: give a true and fair view of Ihe state of the Gr￿P.S of the parent tharitable company$ affairs as at 31 De￿mber 2021 and of the Group's In￿Mir￿j resowx and application cl resour￿$, induding its income arKI expenditure for the year then ended: have been properly prepared in accordance vith UThted Kingdom Grnally Accepted Accounting Pr8Ctice.' and have been prepared in accordance ¥￿th the requirements of the Compan￿$ Act 2(￿. Basi$ for opinion We CAXKlucted our audit in aCCc￿dance *ith Intemalional Slandards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsknlilies under those starKlards are further described in the Auditors. responsibilities for the audit of Ihe financial stslemenls section of our report We are independent of the Group in accordance with the ethical requirements Ihal are relevant to our audit of the financial stalemenls in the United Kingdom. ineluding the Finanual Reporting Coun¢il's Ethical Standard, and have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basbs for our opin￿. Conclusions relating to going concwn In audiling the finan¢ial statements, have c£rfKluded that the Trustees. use of the wng corKem basis of accounting in the preparation of the financial statements is appropriate. Based on the wcrfk we have perfomied. ￿ have not identified any material uncertainties relaliThJ lo events or Conditions thal, individually or ¢olle¢tively. may cast %gnifi¢ant doubt on the Group's or the parent charitable companls ability to ¢onlinue as a going concem f¢* ¥ period of at least twelve months from when the financial ststements are authorised for isgje. Our responsibilities and the responsrbilities of the Trustees respect to wing con¢em are described in the relevant sections of this report. Page 19 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA LIMITED (A Com￿nY limited by guarantee) INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGUA LIMITED ICONTINVEDI Oth•r inforniation The other infomiation comprises the information induded in the Annual report olher than the financial statements and our Audi1015' Tewl thereon. The Trustee5 are responsible for the other information contained within the Annual repjrt. Our o￿nIon on the finanual statements does rnt cover the other irrformation and. except to the extent otheNse expficitly stated in our report. *e do not express any fomi of assurance Conclusion thereon. Our res￿￿5]bilIty is to read the other infomiation and. in doing so, consider whether the other infomiation is materFalty inconsistent ￿ the financial statements or c4Jr kntymedge obtsined in the course of the audit. or otherwise appeaFS to be materially misstated. If we identify such material inconsistencies or 8pparent material misstatements. v* are required tr) detemiine Nthelher this gives rise to a material misstatement in the finanual statements themselves. If. based on the I￿rk we have perfomed. we conclude that there is a material misstatement of this other information. V+E are required to rewrt that fact. We have nothing to reFOrt in this regard. Opinion on other matt•ts prescribed by the Companies Act 2006 In our opinion. based on the U￿￿rtaken in Ihe cowse of the audiL the irrf¢Jrmalion gr¥en in the Trustees. reFrfXt for the finanual year for Ththich the financial statements are prepared 15 consslent vAth the financial ststemenls. the Trustees. report has been prepare¢J in accordance with ap￿*¢at￿e legal re¢wirements. Matters on which we are required lo wrt by exception In the light of our kno￿edge and understaThJing of the chaiilable company arHI its environment obtained in the Course of Ihe au(&t. V•P have n¢4 identified material misstatements in the Trustees, rep¢xt. We have nothing to rewrt in respect of the following malters in ￿l#titsn to ￿thIeh Companies Act 2006 and the Charities Act 2011 requires us to report to you rf. in our opinion- the parent charIta￿e company has not kept adequate and sufficient accounting records. or retums adequate for our audit have not been re¢ehved from br3￿heS not visited by us; or the parent charitable company financial slalements are not in agreement *ith the ac¢ounting records and retum$: or certain disdosures of Tru&eeg remurterati￿ SFe¢ified by law are not made., or havè not rec*ived 811 the information and explanations require for our authL R•sponsibilities of tfustees As explained more fully in the Trustees. resFK)nsibilities statement, the Trustees (￿0 are also the directors of the charitable company for the purFX)ses of c£Jmpany law) are reSPon￿bIe for the preparation of the fin8n¢ial slalements and for being satislied that they give a twe and fair view. ar￿ for such intemal control as the Trustees detemiine is necessary lo enable Ihe preparation of finan¢ial statements that are free from material Misstatem￿1, w*￿ther due to fraud c* error. In preparing the financial statements. the Trustees are reSpc￿sIble for assessing the Group's and the parent charitable company'5 aiylity to continue as a going c¥)ncem. disclosing. as applicable. matters related to golng concem and U￿n9 Ihe goirvJ concem basis of a¢¢ounting unless the Trustees etther intend to liquidate the Group or the parent charitable ￿MpanY or lo ceas¢ operation& or have no realislic altemative bul to do 9). Page 20 THE ZOOLOGICAL SOCIETY OF EAST ANGUA UhllTED (A company limlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (CONTINUED) Auditors. iesponsibilities for the audit of the ffinancial statements Our objectives are to obtain reasonable assurance about thether the financial statements as a whole are free from material misstatement. whether due lo fra￿j or efror. and to issue an Auditors, report that Includes our opinion. Reasonable assuranee is a high level of a5suTrnce. but is not a guarantee that an audit conducted in aCcC￿3nce with ISA$ IUKI wtll alway$ detect ¥ material misthtemenl lthen it exists. Misstotements can arise from fraud or e￿or and are cortsidered material rf. irtdividually or in the aggregate. they cLJuld reasonably be expe¢ted to infiuence the e¢oTrJmic deasions ol users taken on the basls ol these fin8ncial st8lements. lffegularities. induding fraL¥J, are instances of nc￿*coMpl￿an￿ V•ith laws and regulations. We design procedures in line wth our ￿spOnSIbl11t1e$, ouuined aix)ve. to detect material misstatemerts in respect of irregularities. including fraud. The extent to our p￿dureS are capable of detecting irregularities. including fraud is detailed belw. The extent lo whlch the audil was ¢onsldered ¢apable of detecllng irregularftles Including fraud Due to the field in vthich the operates. ￿ identified the follo*ing afeas as those most likely to have a material impact on the finan￿al statements." health and safety," employment lavr. ZL￿ regulations.. environmentsl regulations.. GDPR: and compliance *ith the UK Companies Act and Charities Act. Our approach to identifying and as5essrng risk of material misstatement in respect of irregularities, including fraud and non-compliance wth lav+ts and regulations, vas as follo￿. eTrJuiries Vlrith management ab¢￿ any known (T suspected InStsn￿ of nonvcomp11ar￿ with laws ar regulations, a¢¢idents in the I￿rkI￿a¢e al￿ fraud: reviewng financÉal statement disdosures and testing to supwbng documentation to assess compliance with apFdicable laws and regulations: challeThJing assumptiorts and judyements made by man•9ement in their $ignificanl ac¢ounl estimate$, in particular in relation to depreciation calcuLgtiorts. recogrmtion of legacy income and recoverabilty of debtc￿$.. auditirwj the risk of overrKle of contrd$, induding through te￿"ng journ￿8 entries and other adjustments for appropriateness, testing contmls on gate and shop receipts, and evaluating the I￿￿ne$S rationale of significant Iransaclions out￿de the normal course of bu￿nesS- and reviev•ing the charity's oryoiro license to operate. aThJ revie¥*ing findings of any regulartoy inspections takin9 ￿ace during the year or after. Because of the inherent limitations of an audil. Ihere is a risk that V•E *ryll not detect all irregularitie5, induding those leading to a material misslatemenl in the finanThal statements or non•compl1an￿ with regulation. This risk increases the more that compliar￿e a law or regulation is removed from the evenls and transactions reflected in the finanual slalemenls. as ￿ V•ill be less likely to become aware of instances of non4ompliance. The ri$k 1$ also greater regarding irregularikn'es occurring due to fraud rather than e￿Or. as fraud involve5 intentional concealment, forgery. collusion. omission or misrewesentstion. A further description of our rewsibilibes for the audtl of the finano818tatemen15 1$ located on the Financial Reporting Council's webste at.. This desc¥iption forms part of our AudiloTS' rewrt. Page 21 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A c4)mpany limited by guaranletl INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF TME ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (CONTINUED) Use of ovr report This report is made to the charitable cOmpan￿S membets. as 8 b¢xly. in accordance Nmth Chapter 3 of Part 16 of the Companies Act 2CI)6. Our audit %M)rk has been undertaken so that ￿ might slate to the charitalAe compan￿$ membets arKI ils trustees Ih05e matters we are required to stale lo them in an Auditors. report and for ￿ other purpose. To the fullest extent ￿rnitted by law. V•* do not accept or a&wme responsibility to anyone other than the charitable c¥)mpany and its members. as a bc*Jy. and the charitable xnpaWs trustees as a l>>Jy. for our audit *ryk. for this rep¢xt. or for the opinions W￿ h8ve fomied. Giles Kerkharn FCA DChA (Senior statutory audit¢x for and on behalf of Larklng Gowen LLP Chartered Accounlants Stslulory Auditors King Street House 15 Upper King Street Now¢h NR3 1RB Date: 23 September 2022 Page 22 THE ZOOLOQICAL SOCIEfY OF EAST ANGLIA LIMITED IA company limited by guarante•) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENOITURE ACCOUNT) FOR THE YEAR ENDEO 31 DECEMBER 2021 Total funds 2021 Tolol funds 2020 funds 2021 funds 2021 Income frorn: Donations and legacies Charilable aclivilies.. Zoo Animats Fund gr￿t Visitot income to zoo pa￿5 Other trading activities Investments 734391 1.320. r20 1,328,786 1.328,786 4,440,619 2,130,389 4,440,619 2,130,389 3.618.380 1,361, T90 Total income 7,251,314 1.3B3,871 8,63S,185 6.300.926 Expènditure on: RaisiThJ funds Charilabie 8¢tivities 2,2S8.166 3.523293 2,258,166 465.403 1,455,038 4.246. 129 942,110 Total expenditure 5,781.459 942,110 6,723,569 5, TOI, 167 Net income Transfers bet¥w funds 1,469.855 401, 441,761 (401.963) 1,911,616 599, T59 Net movement ITh funds 1.871.818 39,798 1.911.616 599.759 Reconciliatitsn of funds: Total funds brought foTrward Net movement in funds 2,651,303 1,871,818 11.215 39,798 2,662.518 1,911,616 2.062.759 599.759 Total funds Carried forwanl 4.523,121 51.013 4,S74.134 2.662.518 The Consolidated statement of financial activities indudes all gains and losses recognised in the year. The notes on pages 27 to 49 form part of financial statement Page 23 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A ￿rnPany limited by guarantee) REGISTERED NUMBER: 082S0951 CONSOUDATED BALANCE SHEET AS AT 31 DECEMBER 2021 2020 Note Fixed assets Tangible assets Current assets 13 4.413, 3,503,091 stocks 15 16 92.805 88.631 142.384 2.397.370 Debtors Cash at bank and in hand 2.941234 3,S01,319 Z628.385 Creditor5: amounts falling due wthin or year 17 (1,927,840) (1,338.832) Net current assets I liablllties 1,573,479 1,289,553 Total assets le$$ cuvrent liabilities &987,123 4. 792.644 Creditors: amounts falling due after more than one year 18 (1.412.989) (2. 130.126) Total net assets 4574.134 2.662.518 Charity funds Restricted funds Unrestricted funds S1.013 4,$23,121 7 1.215 2.651.303 Total funds 4,574,134 2,662.518 The Trustees acknovAedge thwr respon￿bIlItIeS for complwng *ryth requirements of the A¢1 with respect to accounting records and preparation of financial statemenls. The financial statements ￿re approved and auth￿ised for issue by the Trustees and signed on their behalf by: GFSmith Date: 22nd September 2022 The notes on pages 27 10 49 form part of these financial statements. Page 24 THE ZOOLOGICAL SOCIETY OF EAST ANGUA UMITED (A ¢ompany limited by guardntee) REGISTERED NUMBER: 08250951 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2021 2021 2020 Fixed a$sets Tangible assets Investment5 13 14 4,099,964 3,353,441 4,099,965 3,353,442 Curr¢nt assets Stocks Debtors 15 16 3.937 1,176,780 2.561,888 6,708 283,428 2.330.553 Cash al bank and in h￿d 4742.605 2.620.689 Creditors.. amounts falling due wtthin one year 17 (1.855,447) (1.255.512J Net CyTr•nt assets I liabilittes 1,887,158 1.365, 177 Total assets less current liabiliti•s 5,987,123 4,718,619 Creditors: amounts falling due after more th8n one year 18 (1,412,989) {2. 130.126) T¢>tsl net a$sets 4.574134 2,588.493 Charity funds Restricted funds Unrestrided funds S1,013 4.523.121 11.215 2.57r.2T8 Total funds 4,574,134 2.588.493 The Companys net movement in furKls for the year was £1.985.641 (2020- £723.645). The TriJ5tees aCkrK)￿edYe their resp)nsibilities for tr)mptying *ith the requirements of the Act Mth respect to aecounling records and p￿ParatIon of financial Statemen￿ The finarri81 statements ￿tre approved and authorised for issue by the Twstees and signed on Iheir beh*f by: G F Smith Dale: 22nd September 2022 The notes on pages 27 to 49 forn part of these financial statements. Page 25 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA company limiled by guorantee CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 Cash flows from operating activlties Net cash used in r4)eratlng a¢livibe5 2.406.640 1.177.044 Cash flows from investlng a¢¢lvities Interest paid Proceeds from the sale of tangible fixed agsets Purchase of tangible fixed assets 141,1351 (65.465) 39, Tsa (131.822) (1,204.836) Net cash used in investing acliviti•s (1.245.971) (157.$37) Cash flows from financing activiti•s Ne¥vllRepayments) of bmAng Repayments of finan￿ leases Olher loans 1162,5431 19,1251 {444,1371 870.002 (12.16n (82,905) Net rAsh (u$ed inyprovided by financing activities (6148051 774930 Change in cash and cash equivalents in the year Cash aTrJ cash equivalents at the bwnning of the year $44,864 1,794.437 2,397.370 602.933 Cash and cash equivalents at the end of the year 2,942,234 2,397.370 The ncles on pages 27 to 49 form part of these financi￿ ststements Page 26 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMrrED (A ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 DECEMBER 2021 General infornwtion The Zoological Society of East Anglia Limited is a private ¢ompany limited by guarantee incorporated and domialed in EThJland arKI Wales. registration number 08250951. The address of the registered offi Is Zsea Zoo Hq, Kennirth811 Ro•J. Banham, Norfolk. NR16 2HE. Accounting policies 2.1 Basls of preparalion.of financial statem•nts The financial ststements have been prepared in acclydance with the Chgrities SORP (FRS 102) - Accounting arKI Reporting by Charities.. Statement of Recommended Practice applicable to charities eparing their accounts In a¢xordan¢e with the Financial Reporting Slandard applicable In the UK and Republic of Irdand {FRS 1021 {effective 1 J8nuary 20191, the Finanual Reporting Standard apph"caLle in the UK and Republic of Ireland (FRS 1021 and the Ccrfnpanies A¢t 20C6. The finanaal statements are wesented in s¢eding vkni¢h is the fUndIcK￿ ￿￿encY of the group aThJ rounded lo the nearest £. The Zth)logical So¢iety of East Anglia LiTnited meets the definition of a public benefrt entity under FRS 102. Assets and liaknlib'es ore initially recognised ot historical cost or trans8dion value unle$$ otheThJise stated in the relevant accounting policy. The Conxfylidated ststement of financial activities (SOFA) and Cons¢4idated balan(* sheet nsolidate the firhancial slatements of the Group 8NJ its wb*diary urmlertaking. The results of the subsidiary are consolidated on a line by line bass. The GrcNJp has laken advantoge of the exemption allo1￿ under se¢tion 408 of the Companie$ Act 2C￿ and has not presented its Statement of finanaal activities in these financAal statements. 2.2 Gthlng eoncern As part of the Trustees, ￿nsideratIon of the appropriater￿sS ol •Jopting the ￿Ing concem basis in weparing finanrial ststement5. 8 range of stressed forecast sc*nari05 have been reviewed. The Covid pandemic is expected to have less of a direcl impact than in 2020 and 2021, toth of which included periods of forced clogJre of the charity's site$. Ho%%tver the Trustees are aware that the upcoming year *ill bring challer4Jes. in wticoJtaT due to Ihe rajrrent uncertain economic dimate. a result of the orvJoing uncertainty. management ￿ntInUe to monitor and amend where necessary tyjdgets •nd forecasts. arKI are c¥)nsidering a variety of different priung strategies. Cash reserves of 4 months. expernjiture continue to be held to protect against any unexpeoted ts)sl increases or short4erm loss of inccrfne. and to ensure that the charity ¢an continue to sustain itself. Based on these reviews. the Twslees have a reasonable expectation that the Company has adequate resources to (x)ntinue in operational existen￿ for the foreseeable fuluTe. For this reason. they Continue to adopt the going concern ba&$ in preparing the financial statements. Page 27 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMtfED (A ¢¢xnpany limlted by guarantee) MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A¢counling policies {continued) 2.3 Inc¢)ffle All incyjme is recognised On￿ the Company has erbtitFement to the income. it is probable that the In¢(￿e wll be received and the amount of in(xyne receivable can be measured relSably. The recognition of irKome frc¥n lega(yes is dep￿thI on establishing entitlement, the probability.of receipt and the at*lity to Èstimate sufficient accuracy the amount receivable. Evidence of entitlement lo a leg•¢y exists when the Company has sufficient evidence that a gift has been left to thern (through knovAed9e of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question *ill not be required to satisfy claims in the e*ate. Receipt of a legacy must be rec(vJnised ￿en r( is probable that it will be received and the fair value of the amount receivatAe. vthich *ill generaly be the expected cash amounl to be distributed to the Company, ¢an be reliably mewred. Grants are Ir￿￿￿ed in the Consolidated statement ol finanaal actrvities on a receivable basis. The b4l¥nce of in¢Mie re¢wved for specifi¢ purwses but not expen¢Jed during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt. ils recognition is deferred and induded in c¥editors as deferred ino)me. Where entitlement occurs befrxe in¢we is received, the irwAne is 8¢m*d. Income tax recoverable in relation to inveslrnent income 1$ rec(w3nised at the time the investment income is receivaile. Admi￿0￿ income is recognised in the periLwJ in vknith it is receivalAe and to the extent the good$ have been provided or on completion of the service. Pro¢eed$ from sale of annual passes is initially defe￿ed and wbsequenlly ￿leaSed on a stralghl line ba￿S across the period to vknich the pass relates. O￿tIonS are reccwised in the Fwiod in ¥thich Ilw are received. 2.4 EXPendi￿re Expenditure is re¢cgnised once there 15 a legal or ￿nStrUctive obligation to transfer economic benefit to a third paty, it is prOba￿e that a transfer of ecLJnomic benefits will be required in settlement and the amount of the ￿l9￿10n can be measured reli8trAy. Expenditure is el85srfied by activity. The costs of each aclivity are made up of the total of direct costs and shared costs. induding support costs involved in undertaking each aC￿vity. Direct Costs attributable to a single activity are allocated diredy to that activity. Shared costs 4¥hi¢h ¢ontribute to more than one a¢tivity and support costs which are not attributable to a ￿ngle activity are apportioned belween those a¢tivities on a basis consistent V4ryth the use of resourees. Central staff costs a￿ allocated on the basis of lime spent. and depreciation charges all0&￿ed on the portion of the asset's use. Expenditure on raising funds irKludes all exper#Jiture in¢urred by the Group to raise fund$ for its charitable purFoses and includes costs of all fundrai￿ng acbvities events and non-charitable trading. ExperHliture on tharilable activibes is incwred on dwethy undertaking Ihe activities ￿lch further the Group's obie¢tive$. as well as any ass(Yiated supwt costs. Page 28 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED (A company limitsd by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Accounting policies l¢onlintsed) 2.4 Exp•nditure (continued) Grants paYa￿t are charged In Ihe year the offer is made ex(*pt in those cases vthere the offer is conditional. such grants being re¢ognised as expeThjitU￿ when the conditions atta¢hing are fulfilled. GTants offered subject to coTrJrtions which have not been met at the year end are noted as Commitment. but not accrued as expenditure. 2.5 Government grants Govemment grants relating lo langible fixed assets are treated as deferred ID(x)me oThJ released to the Consolidated ststement of finanoal activities ¢)ver the expe¢led useful lives of the assets concemed. Other grants are crethted to the C￿So11dated ststement of finan￿1 aclivities as the related expenditure 15 incwred. 2.6 Int•r•st r•¢eivable Interest (y) funds held on det*)sit is induded ￿en receivable and the amount can be measured liably by the Group. thi$ is nomially u￿n nottfi¢ation of the interest paid or payable by the institution wlh whc*n the fund$ are dew'ted. 17 Tangible f•xed assets and depreciation Tangible fixed assets (x)sting £5￿ or more are cawtalised and recognised wthen future economic benefits are probatde and the cost or value of the asset can be rnea￿ed reliably. Tangible fixed assets are initially recognised at cost After recognition. under the ¢o$l model. tangible fixed assets #￿ measured at cost less accumulated depreciation and any accumulated impaimient losses. All costs incurred lo bring • tsngibje fixed asset into it5 intended working condition should be induded in the measurement of cosL Depreciation is tharge(I so as lo allocate the cost of tangible fixed assets less their residual value over their estimated useful lives . Oepreci•lion is provided on the foll￿ry￿g ba Leasehold wopety improvements Motor vehicles - 20% reduang balance Fixlures. rrttings and equiFrfnent- 25% reducing balance and 5% straight line Computer equipment 20% straight line Animal ￿0$UreS - 3-5% straight line - 2% straight line Assets in the course of Constructic￿ are ncrt depwated until after they ore brought into use. Page 29 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A￿O￿nting poli¢i•s (continued) 2.8 Investhients Fixed assel investrnents are a form of finan on investments. in the Consolidatèd sl8tement of finanaal activitie Invesbnents in subsdiaries are valued at cost less provl*on for impwmient. Investments held as fixed assets are shown at cost less provision for impaimient. 2.9 Stocks Stocks a￿ valued at the lokner of (¥)st ar*Y net fealisable value after making due allowance for obsolete and ￿0W-MOvIng stocks. Cost indudes all direct costs aThJ an appropriate proportion of rtted arKI variable overtwd5. 2.10 Debtors Trade and other debtors are re¢ognised at the setdement amoLsnl after any trade dis¢ounl offered. Prepayments are valued al the amount prepa￿8 nel of any trade discounts due. 2.11 Co$h at bank and in h•nd Cash at bank and in hand i￿l￿deS cash and short-temi highly liquid investments with a short maturity of months or less fr(¥n the date of acquisition or opening of the deposit or similar account. 2.12 Liabilitiès and provisions Lia￿li1Fe$ are ￿¢0yrtiSed K411en there is an (*)lIg8tiC￿ at the Balan(* **eel date as a result of a pasl event. it is probable that a transfer of economic benefit V*ill be required in settlement, and the amount of the settlement c￿1 be eskn"mated reliably. Liabilities are recc¥Jnised at the amount that the Company a￿ti￿paleS it will pay to settle the debt or the amount il ha5 received as advanced payrnents for the goods or services il must provide. Provisions are meagjfed at the best estimale of the amounts required to settle the obligation. Where the effe¢t of the time value of money is material. the provision is based on the present value of those arn￿nts. discounted at the pre-tax discount rate that reflects the risk$ specific to the liability. The unwinding of the discount is rewJnised in the Con9)lidated statement of financi81 activities as a finance cost. 2.13 Financial Instruments The Group only has finarrial assets arwj financ4al liabilities of a kind that wolify as b8sl¢ financial instfuments. Basc finanaal instruments are initially recognised at transaction value and subsequenlly rne8￿red at their settlement value the exception of bank loans Ythich are subsequently me8sured at amortised ¢osl using the effective interest method. Page 30 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA company lirnited by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounllng poll¢ies (contlnued) 2.14 Finance leases and hiffe purchase Assets obtsined under hire wrchase ¢(mtr¥¢ts and finaThx leases are ¢apitalised as tsngible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease lemi and their useful lives. Assets acquired by hire purchase are depreryaled over their useful lives. Finan leases are those vthere substantially all of the benefits and risks of ownership are assumed by the Group. Obligations undw suth agreèmertts are induded in ¢reditors. net of the finance charge allocated to future periods. The finance dement of the rental payrnent is charged to the C￿$011daIed statement of financial activities so as lo w4Jduce a wnstant peric*Jic rate of tharge on the net otrAigotson outstsnding in each pwicd. 2.1 S Pension$ The Group operates a defined contribjtion pension scheme and the pension charge represents the amounts payable by the Group to the fund in ffjspect of the year. 2.16 Fund accounting General funds are unrestricted funds bthich are available for use at the discretion of the Trustees in furtheran¢e of Ihe general 0￿"e¢￿VeS of the Group and which have not been designated lor other purFKJses. Restricted f￿dS are funds to be used in ¥¢oYdance with $J>wfic restri¢tic￿s imposed by donors or vthich have been raised by the Group for particajlar purposes. The c>)sts of raising and administering su¢h furKls are tharged against the specafic fund. The aim arKI use of each restricled fund is set txrt in the ncrtes to the financial ststemerts. Investmenl incxxne. gains and losses are all¢xated to the apwjpriate fund. 2.17Zoo Llvesto¢k Z(hJ Livestock is carried at £Nil vaue. Judgemènts in applying accounting policies and key sources of estimation uncertainty The Trustees are required to make Jud￿entS. estimates and assumptiorts s￿4rt the carrytng amounts asse1$ and liabilities that are r￿t readily apparent from other sources. These estimates and ju¢Jgements are ¢onlinu4lly evaluated and are based on historical experience and other factors that are considered relevant. Actual resulls may drffer from these estimates. The judgemenls. estimates and assumptims *thich have significant risk of ¢ausing a material adjuslment to the carrying amount of assets and liabilities within the next rinancial year are addressed belov. Stock rovi on The group sells ￿1011 items and is sutiect to consumer demands and trend5. A5 a result il is necessary lo consider the recoverability of the cost of inventory and the asswated provisions required. When calculating the inventory provision. managemenl I￿nsiderS Ihe nature and condition of the inventory, as well as applying assumptions around anticipated saleability of finished gcods and future goods and future usage of row material$. See note 15 for the net carrying amount of the stocks and assouated provision. P￿e 31 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2021 Useful economic lives of lan ible assets The annual depreciation tharge for tar¥Jibte assets is sensitive to (*anges in the estimated useful economi¢ lives and residual values of the assets. The useful e(J)￿Mi¢ lives and residual values a￿ re assessed annually. They are affler￿ed vthen r*eessary lo iefle¢t current estimates, based on technological advar￿Ment. fu￿re estimates. eCc*￿ilC uttlisation and the physical condition of the asset$. See note 13 for the carrying amount of the propwty plant and equipmert arKI note 2.7 for the useful ecorKJmic lives for e¥h dass of assets. Income fMm donatlon$ and legacies Unr•stricted Restricted funds lunds 2021 2021 Total funds 2021 Donations Grft aid Olher govemment grants {see note 20) CJRS IGovemmenl.grant) 168,631 359.321 287 168,918 359,321 54,798 152,354 54.798 152.354 680.306 55.085 735.391 Unreslricted funds 2020 Total funds 2020 Donations Gift aid 441.603 331, 729 547.388 441.603 331.729 547.388 CJRS {Govemment grant) 1.320. 720 1.320. 720 Coronavinjs Job Retention Scheme ('CJRS) grant represents inC￿e received from Government to cover some of the costs of employing Qrtain members of staff placed cffj fudough leave, in response to the Covi¢*19 pandemic. Page 32 THÉ ZOOLOGICAL SOCIEfY OF EAST ANGUA LIMITED (A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Income from charilable activities Unrestricted Restrrrted lunds funds 2021 2021 Total funds 2021 Zoo Anirnals Fund grant Visitor income to zoo parks 1.328.786 1,328.786 4,440,619 4.440.619 Total 2021 4,440,619 1,328,786 5.769.405 Unre$tri¢t funds 2020 Total fvnds 2020 Visitor income to zw parks 3.618.380 3.618.380 In¢ome from other lrnding a¢livits¢$ Unrestricted funds 2021 Total funds 2021 Other income Trading income 1.719 2.128.670 1,719 2,128.670 2.130.389 2,130,389 Unrestricted funds 2020 Total funds 2020 Trading income 1.361.790 1.361,790 Page 33 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA company limited by guornntee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Investment Inc¢Jme 2021 2020 Bank and other interest receivable 36 Expendlture on raising funds Fundrai$lng tradlng expense5 Unrestricted funds 2021 Total funds 2021 Cos( of gocJy Other yjpport costs 371,539 15.809 859,245 68.716 632 551. 798 15. 156 679.492 38. 774 1,323.941 1.285,220 10. Auditors. remun¢rntion 2021 2020 Fees payable to ttie Compan￿$ audity for the audit ofthe Companys annual accounts 12,735 12.130 Fees payable to the Compan￿$ audilor in respect of: I nomudit ser¥i¢e$ not induded above 3. 790 11. Staff costs Group 2021 Group 2020 C¢)mpany 2021 Company 2020 Wages and salaries Social security costs Contribution to defined contribution pensi 5them8s 3,185,552 141.097 2.916. Tll 162, 133 2,068.882 141,097 2.188.710 162, 133 39.623 54.871 39,623 54,871 3,366,272 3. 133.715 1249,602 2.405.714 Page 36 THE ZOOLOGICAL SOCIEfY OF EAST ANGLIA UMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 11. SLiff costs (¢ontinu•d) The average number of persons empkjyed by Ihe c￿lipa￿ during the year was as fcAIows'. Group 2021 No. Gmup. Company Company 2020 2021 2020 No. No. Employees 190 127 The number of employees employee benerrts (exdudirvJ emptoyer pensron costs) exceeded £60,000 was: Group 2021 No. Gmup 2020 In the bond £60.001- £70,￿0 In the band £70.￿1.. £80.0(KJ Redundancy payments of £20.404 were made to 2 em ￿0yeeS during the year. as well as payments in lieu of notice of £19.378, and a further setuemenl of £25.CMY) made lo one former employee. In the prior year, reduTrYancy paymenls of £143.384 bbere made to 28 employees. Key management wnuneration during the year totalled £210.952 (2020.. £317.773). The Group'$ key management ￿mPrISeS the senior man•9ement team of the Charity and its subsid1￿. 11 Trustees. remuneration and expenses During the ye•r. no Tw$lees received any remuneration or olher benefrts (2020- £NIU. During the ye¥ ended 31 Oecember 2021. no Trustee expenses have been incurred (2020- £NIL). Page 37 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 11 Tangible fixed assets Group Leas•hold property Assets In the ffttings improvÈ- course ol Motor and Computer Zoo ments construction vehicles eguipment equiprnent enclosures Total Cost or valuation At 1 January 2021 Almibons Diswsals Transfers be￿en dasse$ 185.OOD 170.686 45,6S2 321,442 1.959.489 560.9S9 30.672 14.181 {29.3M) 17.176) 2.882,591 5.394.174 405.192 1,204.836 (36,519) 23.146 38,916 1135.552) 11092 At31 2021 471.osg 322.no 1.978,S87 23.146 3,372,327 6,$62,491 Depre¢latlon At 1 January 2021 Charge for the year On disposals 25.900 188.627 9B5.537 691,019 1.891.083 13,636 26.710 (19,265) 124,462 (S,908) 2.702 115,427 282,937 (25,1731 At31 2021 39,536 19Q072 1.104.091 2.702 806.446 2,148,847 Net book value At31 De¢ember 2021 355,066 471,059 126,698 874,496 20N44 2,565,881 4,413,644 Ai31 December 2020 159. 100 45.652 132.815 973.952 2.191.572 3.503,091 Page 38 THE Z¢JOLOGICAL SOCIEfY OF EAST ANGLIA LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 13. Tangible fix•d assets Icontinu•d) Group {¢ontinued} The nel book value of assets held WKler fIna￿e leoses or hire purchase ￿nt￿ts, induded above is £Nil (2020.. £27.840). Company Leasehold Assets in Fixtures. Pfoperty the ¢ourse fillings improve- Motor and ments construction vehicles equlprnent enclosures Total Cost or valualion At 1 January 2021 Additions Disposals Transfers be￿n classe8 185.000 7.847 42.655 300,142 1,597,009 S60.293 30.672 4.378 {29,344) 17,1751 2,882.S91 5.007,397 405,192 1,008,382 (36,519} 38,916 1135.552) 11092 At 31 December 2021 231.763 467.396 301.470 1,606.304 3,372.327 5.979.260 Depre¢iation At 1 January 2021 Charge for the year On disposals 25,900 177,142 25,140 (19.265) 7S9.89S 106.100 {5.908) 691,019 1,653.9 11S,427 250,513 125.173) At 31 Deomber 2021 29.746 183.017 860,087 806,446 1,879,296 Net book value At 31 December 2021 202,017 467,396 118,453 746.217 2.56S.881 4,099.964 At 31 December 2020 159. 100 42.655 123.000 837. 114 2.191.572 3.353.441 The net book value of awts held under finan￿ leases ￿ hire wrthase contracts. in¢lLKled above is £Nil (2020= £27.840). Page 39 THE ZOOLOGICAL SOCIEfY OF EAST ANGLIA LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMEKTS FOR THE YEAR ENDED 31 DECEMBER 2021 14. FIX￿ asset investrnents Invèstments in subsidiary companies C¢Jmpany Cost or valuation At 1 January 2021 At 31 Oe¢ember 2021 Net b¢x>k value Al 31 Oecember 2021 Al 31 December 2020 1& Stocks Group 2021 Group 2020 Company 2021 Company 2020 Finished gcojs and g)ods for resa 92.805 88.631 3,937 16. Deblors Group 2021 Group 2020 Company 2021 Coinpany 2020 Due within one year Trade debto Amounts owed by group undertakitvJs Other debtors Prepayments and awued income 13.004 13,357 686.321 394,984 B2.11B 150,069 48.137 79.816 361.223 81118 ' 49.564 79.816 466.280 142.384 1,176,780 283,428 Page 40 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA company limited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 17. Cff¢ditors: AJ))ounts falling due within one year Group 2021 Group 2020 Company 2021 Company 2020 Bank loans Other loans Trade creditors Other taxation and so¢ial security Obligations under finance lease and hire purchase contracts Other ¢reditors AcCn￿lS and deferr￿ inccrfne 229,121 266.958 190,093 168.255 178.625 f91.630 94.741 229.121 266.958 173,80S 37,643 168.255 178,625 162.406 58.655 9.125 143.308 553. 148 9.725 141.503 536,943 264.602 923,236 261.531 886,389 1.927.840 1.338.832 1.BSS.447 1.255.512 Accruals and deterred income irKaudes defe￿ed park entran￿ fees as follows. Group 2021 Group 2020 Company 2021 Compaoy 2020 Defetred income at 1 January 2021 Resources defeThed during Ihe year Amounts released from previous periods 411,377 289,157 (300.3691 339.066 367.697 (295.386) 411.377 289,157 {300.369j 339.066 367,697 (295,386) 400,165 411.3TT 400.165 411,377 The bank loan is secured by means of se¢urities th•t ueale a fixed and floating ¢h8rge over the assets of the company. The purchase liabilities ¥e serj￿rt by a charge over the assets to *thich they relate. Page 41 THE ZOOLOGICAL SOCIEfff OF EAST ANGLIA UMITED IA ¢ompany lirnit•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 18. Cveditors: Amounts falling due after mor• than one year Group 2021 Group 2020 Company 2021 Company 2020 Bank loar Other loan$ Accruals aTrJ deferred income 956,958 1. 180.367 395.692 928. 162 21.597 956,958 395,692 1. 180.367 928. 162 21,597 1,412,989 2. 130. 126 1,412,989 2. t30. 126 Included ￿thIn the above are aM(￿S fallirvJ as fdl Group 2021 Group Company 2020 2021 Company 2020 Belween one and two years Bank loans Other loans 231025 265.¢100 229.549 266.958 232.025 265,000 229.549 266.958 Beiween two and fivÈ yèaffs Bank loans Other loans S95.300 696.766 130,692 66t.204 595.300 130,692 696.766 661,204 Over five year5 Bank loans 129,633 254.052 129,633 254.052 The bank loan 1$ wdyable over 4 10 year pwiod. comMe￿￿j in 2017. Interest is tharged at 2.55% over base rate. In May 2020 the Charbty was also granted a Coronavirus Business Inte￿UptIon Loan of £9CKJ,rK)O. The loan is for 6 years from first tha￿￿ arnd carries interest of 1.4WA above bank base rate. Intere$t charged in the firsl 12 months from draMltr•m is paid by the govemmenL Other loans c£wst of the deferred consideration for the purchase of assets. The loan is payable over equal installments over a 10 year p￿. (y)mmenang in 2014. Interest is tharged 8t 2.8% over base rate. Financial instruments measured at amortised cost comwise the deferred C￿￿￿1￿ratiOn for the purchase of assets. The bank loan is secured by means of securities that ueate a fixed and floating dlarge over the assets ol the company. Page 42 THE ZOOLOGICAL SOCIETY OF EAST ANGUA LIMITED {A company limited by guarante•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 19. Hire purchase and finance lease Minimum lease payments under hire pur¢has¢ fall due as follo￿. Group 2020 Company 2020 Commitm•nts falling du•: Withln 1 year Between 1 2 years Less: interest r￿¢ yet acc¥ued 9.7Q5 9, 705 (580) f580) Amount in¢lud¢d in ¢redilors 9.125 9,125 20. Statement of funds Statemenl of funds- ¢Ufrent year Balance at 31 December Balance 411 January 2021 Transfers inloul Income Expenditure 2021 Unrestricted funds General Fund5 2.651,303 7.2S1,314 15,781.459) 401,963 4,523,121 Restricted funds Other restricted fund5 Zoo Animal Fund Green RecLJvery Challenge Fund 11,215 287 1.328.786 (28n (926,8231 (401,9631 11,21S 115,000 39,798 11.215 1,383.871 (941110) {401,9631 51.013 Total of funds 2,662.518 8.635.185 {6,723,6691 4,674,134 Page 43 THE ZOOLOGICAL SOCIEfY OF EAST ANGLIA LIMITED (A company limited by guarnnteèl NOTES TO THE FINANCIAL STATEPIENTS FOR THE YEAR ENDED 31 DECEMBER 2021 SLitement of ￿ndS (¢onllnii Other restricted funds indudes small amounts raised from visitors via cash donation boxes Nthi¢h are colle¢led and distributed to other orimal ¢or*eNation charit￿. The Zoologi¢al So¢iety of East A￿18 was ¥vMrded a granl from the Zoo Animals Fund fc* Banham Zo￿O91Cal Gardens and Africa ￿1ve Z£￿Ic￿1Cal Reserve. Wilh ZcK>s' incomes significanly reduced by social distancing rule5 related to the Covid-19 crisis. This was compcwjnded by z005 often operaling at a loss ove¥ the vAnter months arKI relying on fth)tlall from Easter orw8rds to reMup these costs. Zoos must continue to provide the service of caring for th￿r animals and have ongoing costs fixed to cover animal keeping. feed, he8ting. security. The purpose of this fund was lo minlmyze the impact of the Covid-19 uisis on animal ¥%tlfare. ZSEA was awarded £498.690 from 1 January- 31 March 2021 and £480.304 beknn 1 April - 30 June 2021 to cover o)5ts specifically relating to animal care ￿lch induded slaff costs relating to animal husbandry responsbilities. utilities, daily animal care costs including feed, bedding and environmental enrichment. an¢J other essential support Costs including 8nim81 recording resFJonsibilities. In addition. £252.163 and £97,630 was awarded for pre•lannÈd 8nd essential %wrks to ensure that health aThJ safety is maintained. aThJ all works ess•ntial to ensure the health and welfare of the anima15. The transfer frorn restricted to ur￿eStriCted furNIs rewesent amounts spent on capitsl expendibJre. The Green Recovery Challenge Fund is a wvemmenl fund developed by Defra in partnership with its Ami>Lenglh Bodies %thich. the Trustees of the National Herilage Memorial Fund INHMFI adminisler on behalf of Defra. The Green Recovery Challerye Fund is a key part of the Prime Mirsisterfs 10 Point Plan lo kick-slart nature recovery and lackle dimate change. Banham Zcological Garden was awarded a Grant of £95,300 to prote¢t the endangered native while41awed crayfish from extin¢tion in August 2021. The native White-clawed (￿a￿lsh (Austropotamobius palli￿$) is an endangered freshwater invertebrate Ihat is dedinirKJ throughout Europe. In Norfolk this species is drastically declining and vital measures are needed to irKrease remaining populatiorts to prevent local extinction. The Zoological Society of East Anglia IZSEAI has now built a c¥ayfish hatchery at Banham Zoo. Norfolk. .In p8rtnership with Norfolk Rivers Twst, Banham Zoo recenlly housed Mld caught. berried female ¢rayfish {females carrying eggs) in order to rear the young until they are large er￿Ugh for rdease into selected ARK sile5 (safe refuge les) in rivers a¢rw Norfolk. ZSEA is being advÉsed SUPFQrted by Bristol Zots Gardens who have est•blished a gJc¢essful crayfish h8t¢hery to suiwl the SrMJth West ¢rayfi$h PQPLlations. Page 44 THE ZOOLOGICAL SOCIETY OF EAST ANGUA LIMITED IA ¢ompany limited by guarantee NQTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 Staternent of funds (continued) 8tatÈrnent of fund$- prlor year Balance at 31 Trnnsfets De￿rnber inlout 2020 8alance al l January 2020 IncL¥ne Expenthture Unrestricted funds General Funds 2.016.844 0.3￿.926 (5.701. 167) 34.700 2.651.303 Restricted funds Other restricted funds Education ¢yJtreach fuThJ Wotsjland walk 11.215 14. 700 11.215 (14. 700) (20.OOOJ 45.915 (34,700) 11.215 Total of funds 2.062.759 6.300.926 (5.701. 167) 2,662,518 The e