R•glstered number: 082509S1 Chaiity number.. 1150158 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA company limited by guarantee TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 THE zOOL0G￿AL SOCIE7Y OF EAST ANGLIA LI￿￿ED IA company limit￿ by guardnteol CONTEKrs Page R•fgrenco and administrative detaib ofthe Company. its Trust8•s and advisers Chaimian's ststsm•nl Trn$t••s' rnport 4-16 Independent auditorn. report on th• financlal stat•ments 19-22 Consolidated statement of finan¢lal aetl¥llle¥ Consolidatsd b81•n￿ $h••t 24 Company balan¢& $heet 25-26 on$olidatsd ¥tstsment of cash flows 27 Notss to tho financial statements 28-55 THE ZOOLOGICAL SO¢IEfY OF EAST ANGUA U￿￿ED IA Company limited by guardntee REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADWSERS FOR THE YEAR EhlDED 31 DECEMBER 2022 Tvust•8s G F Smith, Chaim)an J C Pearson Ire5vJned 6 January 20231 F E Barrelet J J Goodson C A Brxby {wbJned 10 Othber 20221 A Hassan K Edmunds lappoinled 6 January 20231 J Gardiner (appointed 6 January 20231 P Peal lappoinled 30 September 20221 T￿ Trustees are also Dwector3 of the Company. Company registered number 08250951 Ch#rity registsr¢d number 1150158 Regi8tsTed office ZSEA Zoo Hq The Zoologul So&etyof East ArKJka Kenninghall Ro*1 Banham Norfolk NR162HE Independent audltorn La￿Ing Gvwen LLP Chartered AC￿ntants 1st Flcor, Prospect House Rouen Road Norwd) NR1 1RE Bankors LW5 Banking Group pk 3 Market Hil Di IP22 4JZ Chièf Ext¢uliv¢ C Roberts Page 1 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA UMITED IA company Ilmlted by guarnntse) CHAIRMAN'S STATEMENT FOR THE YEAR ENDEO 31 DECEWSBER 2022 Tha chaimian is pleased lo present his Slalement for this, our ninih year of operation. The year 2022 marked a serRs of unforeseen challerge5 for the Zodogical Society of Ea51 Anglia IZSEAI. From the unexpected (x)nfine5 01 Cov1￿19 at the start of the year, to the severe and coslty disrupb'on of the lion enclosure at Africa Alive c8use(I by Stom Eun￿ ovef February half term., lo the e¢onomic pressures from rising )sts and the subsequent o)sl-of-living crisis impad]"ng ￿$[tor i￿)me,. to the tripling of the Soryety's energy ¢Xl51s in the last quarter, our reS￿￿nCe was truty tested. Desprte these obstades, our commstment to our mission and the COTHfflunths we servè remained unwavering and we remain positi.ve for the ftrture. Operational refomis, budget reforecasting and a strong summer marketing campaign were pNotsl. Notably. we achieved ex(*lknl 200 inspectN)ns at both Banham Zoo and Afn"ca Alrve aThJ inthat8d several transformative natwe speries Conservati￿ projects. Our b)nd with Tusk deepened, emphasiing our dedication to intemational Conservation. A sMJnificant stride in edu¢xbon w8s seen wrth Ihe evolution of our ed¢Jcational partnerships wfjth the Wènsum Trnst, and our parlnership with our charty arnbassa(k)r. Alfie Bowen, where fortnighlly education I￿kS 8cross a diverse range of schools across the region took pLqce throughout the year. Our efforts to champion neurodiversty. in alliance with the Universty of East Anglka and Alfie Bowen, st(x)d out as a landmark initiative to devebp the ScrAetys strategy further to become a leading Wsrtor attracbon championing neurodiversrty in our region. Financial and slructural chaI￿rge$ ne￿$s￿ated the ￿trUcturir￿J of various department5, spearheading effiuency. The adverse financial impact culrninating in June was robusdy countered wpth rolling budgets and sl-sawng slralegies. The introduclion of the 'One Team. inrtialive stand5 a5 a lestarnenl to our adaptsbility and the unity of our staff. By Augusl. our (x)rre(#Ne a¢bons t￿e frurt VAth a posthve EBITDA and the h￿hest wsrtor numbers sin(t the inception ol the Charity, whith had set a positNe traje¢tory for the upcoming winter prior to the tripling energy cost5 which emerged in October 2022 and Continued to impacl the charity through to May 2023 when a new h¥0 year contract could be fwl. 2023 has brought fvrther economic lempests. The aftefshc(ks of ihe pandemic. global tènsions. continuation of the rising energy costs and e¢x)nomi¢ Ilownlum whK* Continue to test our mettle. The foundation of our strategy remains agilty, stringent fiscal control. and a staunch ryjmrnrtrnent to our CO￿ values. The outlook lor 2023 is that desprte the Chal￿￿9$$, wsiior incomè and secondary speThJ bL*ets have been ach￿Ved and there has been strong progress made acr055 our wn5eryab"on. edL￿*"on. and ¢ommunty objectNes to date. The Native H8ven oflhe East project continue$ to be a beacon of OLW aMb￿On akjngside our pledge that by 2025.. 15 species wsll be safer from extinction. 15.000 indiwduals wlh impro¥ed welkbeing. 150,000 people better connected to nature. To achieve this pledge and more. we COnb"n￿ lo ¢JelNer upon the ¢)blecli￿S vhthin our nw &year plan.. Prèserving Wikl FutU￿S Engaging our Publi¢ CreatirrfJ Conservationists Sustaining our Environment Sustaining our Future For 2023. our focus remains on being 'Fit for Growth., The budget for 2023 a testarnent to our unwavering commitment lo delwer upon our conservation. educalion arKJ ¢x)mmunity objeetwes whilst maintaining opèratlonal excdlenca èven in Ihe toughest times. Emphasiing member value, reimagining customer journeys. setting clear KPIS, and evoknng operatN)n81 effiu.ency fomi the backbone of our pian for the year. Furthermore, the heatth, safety, and welkbeing of our colkagues wll remain paramount, wth spjnificant investments in training and digital solutions. Page 2 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED {A ¢ompany limlted by guarantso) CHAIRhlAN'S STATEMENT ICONTINUEDI FOR THE YEAR EMOED 31 DECEMBER 2022 We a￿ delvhted to have apPJint￿ three new twslees folk7•AtyJ a rigoTOUS recruitment programma in 2022 to support our am￿.110￿$ future p￿nS." Mr Patrick Peal, MBE DL, pre￿ouS￿ Chief Executive of East Anglian Ar Ambulance and current Chair of Heallhw8td) Norfolk. to further support the delNery of our 8mbitious community and education objec1$￿S., Dr.Kelty Edmunds. ASS￿late Professor al the Universty of East Anglia, to further support and drive oui 1nlem8b.onal and native speoes 0)nServat*￿ projects,. and Mr J8mes Gardinei. AssocAatg Professor. Director of Employabilty at UnNersty of East Anglka and C￿Founder and Chief Operating Officer of Studious Digrtal Education Ltd to drive our arnbthous aims lo t￿)me a world class conservation edu¢8tion centre wthin our region. After three terms of service, the charty is hugefy grateful to Jo Peason, who resigned in December 2022, for the Ifoye coniributioff he-hats" made.lti Ihe"St)ciety since"its"incepti)n". especial￿ acTOSS Ioc81 ¢onservation."education, and communty initiabves. We are also e￿￿M￿ty gTrteftJl for the 5UPW)rt of Caroline Bixby, who was instrurnental in supports.ng our people strotegy during mid-19 thank her for (y)ntribution during such 8n unprecedented perk)d for the Charty. The charity has also recenty weknmed Dr Sharon Redr0￿ OBE Dzoomeil, MRCVS,a5 strategic Zoological consuhant who brings over 25 years as an internationaltry renu*ned senior zoo & conservation professK)nal proviously with Twycross Zoo, ojntinues to a(a as a LIK Govemment Zc¥) Inspector. and has signi￿ant experien(E liasing wlh intgmational bodies and all levels of locxl, regional, and national Govemment. We are delvJhted to have Sharon's expert13e balancing change management. animal welfrdre. kisilor exper￿nce, capital buikl programmes, conservation missKJn wth finawal Mabilty and sustainability to suppK)rt the charity wrth our V￿￿)n for 2030. In ¢onckJ$ion, Whi￿ the upo)ming year poses chaI￿ngeS, ￿Jr dedication to our WSK)A, mission. and the cornmunths we Serve ￿m01n5 steadlasL The overarching aim is to hamess the adversities of today to 18y the grounth40Tk for a promising tomorr(rw. On behaw of ZSEA. l extend my gratitude to every coka9￿. ￿lUnteer. Msitor. and working partner for their unwavering SUPPOrt. Togethef, we move fOr￿drO vAth hope and deteminabon preseNing wily future5, investing in our people. worf(ing with our Communit￿S. leimagining wr spaces. restoring our gardens, and vrtalty, eonttnuing to protecl endangered both natN8 and internathy￿1 SFerJes from the r￿k of extinction. G Srnrth Chairman Date.aA109120L3 Page 3 THE ZOOLOGICAL SOCIEfY OF EAST ANGLIA Um￿ED (A company limitsd by gu•r¥nt8el TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees pwent thoir amual reM tcoether with the 8udrted ffina￿Aal statements of the Company for Ihe year 1 January 2022 to 31 December 2022. The Annual report Serves the purposes of both a Trustees, report and a directors, report under company W. The TnJstees confimi that the Annual ￿pOrt and financial ststemenls of the chantable company compty wth the current statutory requirements, the requiremenls ol the charrtable company's governing document and the pfovisions of the Statement of Recommended Practice ISORPI applicable lo charrtie5 preparing Iheii accounts in aCcOrda￿e wth the Finar￿Aal Repoth"ng Stsndard applicable in the UK and Republ￿ of lieland IFRS1021 leffedive 1 January 2019). S¢etion A- R•vl•w of activities Leadorship Team The Leadership Tearn cornknnes passion. experli5e. entreprgn8urialism, specAlist understanding of their area, and a shared vigon that together we can preserve fuluw. The team indudes our ZoobgKal Director." Heads of Conservabon. Education and Accessibility, Estales and Sustainable InfrastructLtre'. Finance and G0veman￿. Marketsng. Commercral.. and People and Internal Communi￿1K>n3. led by the CEO. ZSEA currenlly sjtilises the skd15 and exFerl¢e of ath.sory specialists to support the kadership team, where Iaquirèd. adding significant value to creating the k)n*term W$K)n and our delNering upon our charitable objectives. These 5pe¢ialists are experienced outshlers who mentor. provth solutions and act a5 a sounding boafd across the w￿e range of departments. some of whom have offerwj their sWi￿S pro bono. We are delwJhted lo have appointed Dr.Sharon Redrobe. OBE DZooMed,MRCVS,a5 Stralegsc Zoological consultant who bring5 over 25 years as an inlemationalty renowned senior zoo & conservation professional pre￿10Y$1Y wlh Tvrycross Zoo. continues lo act a5 a UK Govemrnenl Z¢x) Inspector. and has significant experience h"asing vthh intemational bodies and all kvels of k￿al, reg￿n￿. and nat￿1 Govemment. Rlsk Manag•mènt The So￿ty5 risk register is revthve¢J al the Quartedy Board Meeting$ or as hKJh priority risks emerge. The Board has conducled rts annual rewew of Ihe major ￿kS to whth the SorAety 15 exposed and as50riated athons. procedures. and conh"ngenw plans to mitigate those r￿kS and is sattsfied wlh the management of those Tisks. Objectives and activilies a. Poli¢ieJ and obpctsv In 2022. our principal aims We￿.. . Continuing lo fu￿1. where possib￿. our mission objectives in Conservation, Educalion and Community. . Scrulinising and reducing cos15 for survival and then keeping costs under control. . Seeking funding through Government support schemes . Ensunng the Safety of staff and ￿SitOrS. whilsl delwring a great vtsitor experience and a satisfying place to work . Focusing on revenue-9eneratin9 ¥b"wt Rebuilding the reserves . Continuing to fvlhl, where possible, our missv)n objeth.ves . Rebuilding management and leadership teams fOlkn￿ng Ihe major restrudure Page 4 THE ZOOLOGICAL SOCIEfY OF EAST ANGLIA UMITED IA company limited by guarnntsèl TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Obje¢tiv4s and activiti•s Icontinu•d) In 2022. our key thievements induded: . Resilience.. Overcame challenges like cov1￿19, Stom Eun￿. fBing ca)stS, and the cosl-of-lmng crisis. . Operational Refoms.. Implemented cefomis and budget reforecasting. . Marketiro Success.. Strong summer marketing campaign helped nawgate challenges. . Zoo InspectKx)s". Ach￿¥¢(1 exeelknt ewdluations at both Banharn Zoo and Afr￿3 Alive. . Conservation Initiative5'. Launched lransfomiab.ve native speaes oJn5ervalion projects. . Deepened Partnerships.. Strengthened bond Tusk and emphaswj de¢Jication to intèm8tional conservation. . Educalion Focus.. Evolution of ed￿tional parlnerships wrth Wensum Trust.. partne¥ed wth Aif* Bowen for lortnighty ￿ucat￿)n talks. . Neurodiversity Championing.. Cdk3b)rated ￿th the UFMwsity of Ea$tAnglia and Alfie BcAYen on neurodNersty initiatives. . StrLretural Changès." Reslnjctured departments to enha[￿ eff￿￿cy. . Fin8n¢ial A¢umen.' Implemented rowing bu¢$3ets and co81-sawNJ strategies., achieved a POSTb"ve EBITDA by August. . Visitor Milestone.. Rec￿rded the hvJhe5t visrtor numbers sinc£ the Ghanws inception. . Ambits"ous Pletlge." Oullined the 2025 pkdge for spew safety. individual wel￿beIng, and connecting people to nature. * &Year Plan.. Continuation of the new plan focusing on fNe objectP4es.' Presemng Wild Futuw, Engaging Public. creats.ng ConseNationisl$. Sustsining Enmronment, and Sustaining FLrture. . Growth Strategy.. Maintair￿d a focus on "Fit for Gr(Avth- for 2023., ￿ld ￿anS for operab.onal excellence. membor value. customer joumeys, KPIS, and digtsl solutions. . Board Evolution". Weltx>med three new truslees aftef a rvJorou$ 2022 recruitment process. Bade farewell lo Jo Pearson and Caroline Bixby. ackTh)Yle&JirvJ their witributMs Conclusion.. whi￿ challenges persist, ZSEA remains ￿rnrnrtt￿ to its Vision and mission. emphasiang communty enga9ement, conservation eff￿ts. slaff investment. and $8feguarding eTrdan9e￿d species. An increase n V15itor Income from £4,440.619, in 2020 to £4.570.571 in 2022. Group ￿m0Ver was down from £8,635,185 in 2021 to 7,299.039 in 2022. Htrwever. 2021 inchthd £1.328.786 inc4)me from Zoo animals fund gTant. Hence, the ￿"ke for like t￿r￿Ver was up 0.5%. despite the bss of irKome in February 2022 arising from Slorm Eunice. In setting obj'ective5 and pknning aclmtw, the Trustees gNen due con5ideralK*n to general guiiJ8nce published by th¢ Charity Commission relating to publ¢ be￿fft and have (xbmpl*d ¥wih their duties in 8Ctordance with the Challties Act. Page 5 THE ZOOLOGICAL SOCIETY OF EAST ANGUA UMrrED IA company limlt•d by guardnteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 obl￿tive3 and aetlvllies Icontinuedl 1.1 The charity'$ obJ8ets (the OblKts} arn: 1.1 lal the advancement of •du¢atlon and zoology and rtslat￿ $ubie¢ts by: inspiring. stimulating, encouraging. arKI sustainiThJ interest and enthus¢asm ia the public in zoology and th9 knowledge and study of animals and other %*ikllrfe by establishing and running one or more zoological gardens or 5irndar scientrfic èxhibtb"on. promoting and carryng out s¢>entsfic sludy aThJ research inlo anirna15 and other wildltf& and natural hisfory arKI ￿lated Se￿ntIfiC fields where such study and resear(th could hdp the conservation of species and habitats and the maintenance and resloratron of nalural h8brt8ts. inspiriThJ and engaging wrth the publ￿ in matters relating to the Imng worfd and the enwronmenl and 9engral enwronmental proleclbjn. 1.11bl the advancemont of •nlmal w•lfare by: promoting and carrying out swrtific $tu(ty and ￿$earth into animals and oiherwildlrfe and natural history and felated soèntific fdds where such study and research coukl help the ￿nserVatiOn of spaaes and habitats and Ihe rnainlenance an¢J restoration of natural habrts. promobng and contributing io aThY SUp￿)rting the conSewdt￿)n of animals and wildlfe and in partDJlar lhie8lened species. promoting and conlributs.ng lo and supporbng conversath)n prograrnme5 both in srtu and ex srtu. inspiring and engaging inlerest of the publ￿ in anunals and wibjlrfe and in parbujlar threalened species. promob.ng and contributing to the conseryalion of animals artil olher wbjlrfe. biodNarsty. and natural habrtats in thè UK and worf(knde. appropriate breeding andlor m8intsinir@ of gndangered animas, threatened spe￿S and other wildlife. estsblishing and running one or more zoologtal garden$. vii) 1.1 Icl the athiancement of environmental protsetlon by: promob"rvJ 8nd ¢ontn"buts"ng lo and supportirvJ the conseryation of animals and other wikllrfe and in particular 1hreatened spec*s. inspiring and engaging Inte￿St of the publ￿ in conswvabon of anim* and other vAldlife and in par*'oJlar threatened sp￿eS. promoting and contributing lo conservalion of animals al￿ other wihjlrfe. biodiver%ty. and natural habitsts in the UK and woddm'de. engaging wth the public in matters relating lo the Imng workj. the envvonment and general environmental protection. promob.ng and ¢￿bUti[¥d to and SLyporb'ro ojnseryalion prcqrammes both in srtu and ex srtu. 1.11dl the advancement of such other charitable obi•cts and purposos •$ th• Trust￿$ may in theiT $ol• discretion detemiine from time to time. Page 6 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMttED IA company limited by guarants81 TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEAIBER 2022 Objectives and activilies (contlnued) b. Stratsgies for a¢hlevlng obJo¢tl¥e¥ Our miss￿n 15 to Preserve Wild Futures by wote(AirwJ endangered S￿18$, inspiring, and engagirYJ with the fascination of nature, and to spark a lrfdong interesl in ol all ages to help u$ protect the rich divefsity of our precious wodd. for all our futures. Our zoobgical reserve and z￿￿1cal gardens are pla￿S wh6r8 everyone can connect peacefulty animals and enjoy natNe wikllrfe, fbJTa, and fauna in our green open spaces, improwng wellbeing. Our &year strategic pLgn sets out our dTec*(m as we re-emerge from the pand￿n￿, stronger and leaner. During Ihe next five years, the SOc￿ty become a more effecbve conservation and education charity continuing our commNment to cx)nservation. etlucalion and c4Jmrnunrty parts)erships whi¢h benefrt our wotld and those that Iwe vAthin ￿ Wg are ambibous. We want to be the diff¢rence the woriil nèeds. We want to be the knding exampk of to peoF4e in nature and about nature. Conservation educab.on lies al the ￿art of e¥Erythir¥J we do, and we vrant to acbvety encourage every wsitor to aclNe consider how we can Iwe. work. and leam in more sustainable ways to protect our p18net every day. Over th• n¢xt S y•aYs. w• WHI continuo ouraim to: . Save endangered SpeC￿S frorn e￿ir￿t￿n by ￿8￿ing a kgy role in Conservat#￿ and measurabty improwng biodive15ty. a focus on native Spec￿$. . Educate about natUTe, In nature and foster engagement wrth the nalural worfd . Empower people and bjcal communit￿510 make posrtive change5 by promoting the Connection belween nature and wellbeing . Put sustainabilty at the heart of our kn94emi ¥￿￿Jn and we have ambitious goals. We have sel oursefves fivè obpdives to enable us to delNer our tharttable purwse: 1. Pro8•r¥ing Wlld Fuiurns Our aim is to inuease our conservat*M depenm 8nimal Spe￿e5 on silo to 80% by 2028 and be a real force foT con8ervats.on success. 2. Engaglng our Public Engaging the pubh'c and crtjr communths to have meaninglul experiences lo eno)ur89e positDie actions, urgenlty needed to preserve wikj ftrtures and sustsin our enwronment and address the dimale 8nd e￿lOgIcal eMergenC￿S of tc#Yay, and so is al the hgart of our pL3n. 3. Creating Consemtlonlsts Through impactful, Msual experiences and eduCat￿nal bLrt Ins￿ring facilthes - we aim to prowde visitors the tools they need to take that first step on 8 conswtion jourrw. to make a drfFerertt for everyone'3 future as we continue our objective to". • Educats ABOUT Nalure By prowding a wde range of high-qualty educational opportunities that (xsnnect OUT communTties to nalure, with the aim of deepening publ￿ awareness and kry)wkdge of biodivetsty and sustsinability in a relatable. inspiring. and engaging way. vthKh albws emob.onal o)nneclhJn5 to natwe to be mted. Page 7 THE ZOOLOGKAL SOCIETY OF EAST ANGUA UMITED IA eompany limit•d by guarnnteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Objoctiv•s and activities Icontinu8dl . Educate IN Nature Playing an actsve role in helping our guests and hxal ojmrnunities to ¢X*nnect with n9￿re by spending more time OLrtdwrs given the massive quant[ro￿e beneffts for education and wellbeing. • EdurAting FOR Natslre Encourage behamour change for conseryalhjn by engagiTrJ and empty+vering our guests lo take action to Iwe sustainabty and piolect natu￿. Connection to naiLÉre has been proved to be pOSitNe￿ felaled to consewdtion bghaviour, so by increasing our guests. nature connecb"on5, whi15t empowerirhg them to make sustainable choices. we Can make a po$th"ve contribLrtion to nature conseNation. Sustain our Environment ZSEA is perfectly positioned to delNer upon ts misS￿n lo be the fiagship for sustainable louri5m by connecting people lo nature lor ￿nserVa￿.0￿. deltver its purpKJse in conseNation. edLKath)n. and community and become display enwrLhimental leadership. We aim to becomè a responsibility superstar and ensure reSF￿nSIb1e business. ￿sponsible growth and cx)nservation education is intn.nsic in everything ZSEA does. 5. Sustaln our Futuro We aim to do this by.. • Protsetlng our Flnancos Folk)wng the seismic change ZSEA Unttert￿k twuse of the pandemic to enab￿ ￿ lo rebuild our financial rasérves, fiscal control romain the prionty in decision makiThJ dufW￿ our &year plan. • Investing in our Poople By uealing environmenial thampions w￿j care for and sustsin the enmronmenl, we incre8se empbyee engagement and satisfaction. • Working with our Communltles By working wEth our ¢ommunit*s, we improve Ihe health and welbeiThJ, de$irabilty of our region and preserve wld futures. . Reimagining our Place¥ By reimagining our places, we w￿1 provide a more compelirKJ visiior experience impacting our ability to create rneaningful connections In nature lo empower our vi5rfors and create the next generation of conservationists. . Managing our Gard•n$ With a focus on w$rtor experience, access for al. I￿lUS￿lty. sustainabk pr￿tiC*S and restoring gardens in line with the IWAI environrnenl and speues. Page 8 THE ZOOLOGICAL SOCIETY OF EAST AMGUA LIMITEO IA company limrted by guarnnteel TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 OblKtiV￿ and activiligs Iconlinuedl c. Main activiii08 und•rtak•n to lurthor tho Compan￿9 puwès for the public benefit The Trustees ojmpty th their duty to have regard to public benefrt guidance published by the Charty Commission. In 2022, The SocAety o)nnected in nature 197.926 visitors at Banham Zoological Gardens and 128,472 visitors 81 Afrw> AINe Zoological Reserve. In setb'ng the price structufe for our admission fees we have due regard to oJnce5sionary prices for thiklren. senK>r (ittiens. and those vnth disabilities. Cons•r*atlon Our aim is to inc¥ease our conserwation depeNJent animal 5peoes on site to by 2026 and be a real force for con$ervation success. Zoo ConseThfation ZSEA 8nimal coll8Ctx)n already has an impoitsnl consemtion role. holding al the end of the year 33 International Union for the Conservation of Nature ReA List thjangered or Cnb"calty Endangered species plus many more spec￿$ regafded as Vulnerable. ZSEA'S focus in the next 5 years is to phase out the majority of specaes we hold thai are Th)t of conservation valLte and shape our collection around the future scope of a modem zoo, aligning our airns and values to global ¢x)nservthon org8nis8b.ons such as IUCN and theif 'Revew fv Red. inib"ative and BLAZA, EAZA and WAZA strategies to help fight the dedine in gkjbal biodNèrsty. Native sp￿06$ Con8•Thatlon In 2022. Banham Zook)gical Gardens, as part of our c4)mmitment to the native specaes c4Jnservalion progfamme locused on.. . TMIr￿1•w8d Cr•yfi$h Restoring the endangered, while-c￿Wed (tsyfish pJpulatKTrn awss Norfo￿, made possible by a grant from the Green Recovery Challenge Fund vthith is enablrng US to suppjrt and restore the endangered, White-dawed crayfish population acro55 Norfolk. Our on-stte crayfish hatchery anab￿S us to 5uccesslulty rear and Ihen felease into safe 51tes those endangered natwe freshwater invertebrates with integral cx)Ilaboration from the Norfolk RNers Trust. This project contributes lo slabilising the Whf(e-dawed cra￿1$h population numbers in the wkl as they are faung a devastating decline due lo the pressures of habrtat1055. p)IhJbon, crayfish Fdague ￿ competrtion from invasNe species such as the North Ameitan si9nal crayfish. . Turtle dov In collaboration with the RSPB and their 'OperatK)n Turlje Dove. ￿￿Oi¢cl, ZSEA have alloc*ed a section of land at Banham Zoologi￿[ Gardens to create suitable and enbong habitat for the turtle dove. a bird speaes in the UK. now one of thè lastast dedining bird spew. Thks project not onty strengthens our extemal conservab.on parthership5 bLEt also enh8n¢es our educational aims and Yalues to inspire our guests to understsnd MO￿ about cmjr incredible native bI￿liversIty. Page 9 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA UMITED (A company limited by gu•rants•l TRUSTEES. REPORT ICONTINUEDI FOR THE YE4R ENDED 31 DECEMBER 2022 Objecti￿$ and activitios leonlSnugdl Con￿rIa￿On Funding Despfie the finan¢i81ty perifous situation due to the k)st income during ￿kd￿￿n8 in th8 pandem￿, we were able to recommence conserwdlion funding by the end of 2021 through a new partnership vthh TUSK, whose mission to amplrfy Ihe impact of progressive conservation initiatives across AfrKa. ZSEA de5vJnaled funds from our yi5rtor in¢y)me lo enable TUSK to partnèr wth the most eff8ctNe local organisalions. investing in their ir￿depth knrwAedge and experbse. supports.ng and nurturing projects in conservation, educats'on, and communty. ZSEA's SUPPOrt lo TUSK is contributing to: . Uganda Conservation F¢)und8tion- providing much needed OFeratMinal supp)rt to the Uganda Wikjlrfe Authority and equipment to ￿￿j11re rangws workirwJ lo prote(* ￿k11rfe in Murchwn Falts National Park. . PACE (Pan African Conservation Education) - we have recenty prwrt&J more educational materials, induding 2000 additional copies of the main PACE Pack- AIn"￿ our Hfxne, and 19(MJ copiès ofthe Energy and Climate Change sUpp￿ment sn French. These have been sent out lo 0)mmun￿"e5 in 11 counlnes acr055 Africa. delNering qualty enwronmental educat￿Tr. * Painted Dog Conservats'on, Zirnbabwe- ZSEA are supporb.ng Ant￿po&hIng unrtie5 in theirwork lo monittir and protect the painl&l dog popuLations in aThJ around b￿lange National Park, partiryjlarty from Ihe Ihreat of snares. Conservation Education The conservats.on Education Strategy foDJses on thfee main areas: . Educating ABOUT Nature By promding a wmle range of h￿￿qUalty ed￿￿Onal 0pportunrt￿S Ihal Ix)nnect our communth.es to nature, with the airn of deepening public awareness and knowledge of b¢oJiversity and Sustainabi￿ty in a relatable. inspiring, and engaging way, which alk)ws emolional o)nnecbons to nature to be created. . Educating IN N•tsr• Playing an aetive role in helping our guests and th81 ts)mmvnrtEs to ￿nfie¢t wth nalU￿ by spending more time outdoors given Ihe m8ssive quantifkable benefrts frjr ed￿ation and wellbeing. . Edu¢atlng FOR Nature Encourage behaviour d￿nge for ¢orwrvatK)n by engaging and emKNMring our guasts to take action to live 3U51ainably and protect nature. Connection to nature ha3 been proved to be p05itNety related to conservabon behaviour, so by increasing Ouf guests. nahlre ￿nn0ctiOns. whdsl thgm lo mako sustainable thoices, we can make a posthve contribution to nature conservthn. In 2021, vith much of the year in k)ckdrywns ￿ with sch¢y)l trips ￿nc￿le￿. Ihe education department developed Zoo School. a uniquè partnership enabling teachers to use engaging and interactrve animal conservatson content, linked lo the srAence ￿N￿uluM. z￿ S¢lwl is 8 mtx of face-to-face zoo experiences and online sessions and conlenl. We help leachers lo make even more of Iheir dass zoo wsit by exiending the leaming back into the classrcKJm after your visÉt Ilkrough d￿lts1 lechnow. Our unNJue proposrtion won a BIAZA Education81 Award in 2022. P899 10 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA uMrrED IA ¢ompany limited by guardnteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Obl•eti¥•s and aetlvitl•s {eontinu•dl Community Stratsgy Developmerts Zoos forAI The accessiknlty audit al 8Z rassed a few issues which We￿ wjstponed due to COVID however this work has tyjw recommenced in 2022 and the Changing P&¢es Unit. whth was match funded by Breckland Counol, was comklele(l in June 2023. Working with the Norfolk County Countyl traded EDI semce. the S-yeaT plan will support delivery (rf improved ac¢ess for all at both 88nham Zoological Gardens and Altica AJNe ZcK)10gitsl Gardens. AS specialist ath'sors to ZSEA, the NCC avar&wnning team is n*ionaty reC￿jnISed for their outstanding work on access and inclus￿n and their recent successe5 indude winniThJ the BBAA Leonard Cheshire Award for Most Inclusive Venuelorganisation beab.ng a UNESCO Worfd Herrtage site and were finalist5 in th& 2022 British Council for Offices award for indusive design. DriN*n by a desire to make Norfolk the most county in the country, they Prowde ZSEA with the techn￿al experbse to to meet our ambitious &yeaT goals. Our Autism Awareness WOTk remains an important foc4Js. In Autumn 2021. the crikalty acclaimed wildlrfe phol¢)Jfapher. Aifie Bowen. was appointed as Charty Ambassador. Athe Bowen ernbodies the purpose of what we do at ZSEA, connecting peopk in nature and is an excab.ng Step fO￿ard in which aim5 to be indusive to all. Wellbeing & Iyildlife The wearth of hearth beneffts of conneth.ng th naiure is crilical. Research from tha Mental Health Foundation cf(es that 45% of people in ttle UK found thal wsiting green Spa￿S, helped them to cope wrth the stress of the COVID-19 pandemic explaining the surge in our ￿sitOr numbers folbw'ng Nats"onal kjckdowns. The bounc6- back and unprecedented demand due to a need to reconnect in natu￿ wth family and friends in outdooi spaces continues to see gro￿ in vi5f(or numbers and August 2022. saw the highest ¥i$ttor numters on record since the charrty's inf*pb"on in 2013. Our S-year plan continues our con*nlkn¢ntthmugh th• futh•r developmènt of pariner¥hlps. such as: Veterans . The Armed For(*s Covenant Funds Ttusfs c*art¢r is to ensurè that seMAg Mi￿ary personnel and veterans are not disadvantaged in their a¢cess to services. ZSEA a￿ Wofking TrMth the Clinical D￿r￿lor of the Royal British Le9ion and county-level Covenant Off¢ers to understand how ZSEA c4Jukl be a provider Olwellb￿.ng seM¢xs for Veterans under the green social prescribing scheme fvtyjed by the Covenant. M¢ntsl Health . Working wrth the Access Communty Trust. a b¢al organi5alK)n ZSEA WOTked ah)ngside pre-cnwd on the dèlivery of our communty slrategies prwoting menlal healm and wel￿"n9 beneffts in connecting to nature, and NHS pracli¢xs in our lo(>l Ca)mmunit￿S, our 5-ye8r plan aim3 to recommence soaal prescribing partnerships improving the menlal health in our ¢ommunrfies. ZSEA's Partnership with Norfolk & Waveney Mind promotes mentsl health awaTene8s and provKles suicide prevention training. Voluntser . Our volunteer programme was relaUnc*￿d in 2022 under a new Volunteer Manager which has re5uhed in Ihe reintroduction and recrurtmenl 01118 volunteers. of which 68 volunteered in 2022 giving a totsl of over 10.( volunleenng hours which translaled into a value in excess of £1TrJ,Ct(i. Page 11 THE ZOOLOGKAL SOCIETY OF EAST ANGUA LWITED (A ¢ompany lknitod by guarnnteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Objo¢tiv•s and activbtie8 Icontinu¢d) Raising fund$ Maintaining fv40 parks lo the constanty improwng stsndards we sei means that mosl admission in￿rne is spent on the d3y-tC￿daY animal and welfare cost. Th￿ means thal fvnding to support our conservatson work both al Banham Zoo and AfTTh Alive. in 2022 due to Ihe continuing financial challenges enCounte￿d became an increasingly more drfficLsh feat a5 the monlhs wenl oft. must come from olher sOur￿S and in 2023, our objective is to increase *acy and further fundraising initsatNes to support our work. ZSEA does not èmploy pfofessional telephone or street fijndraisers or commercial particip31or5 to carry out our fundraising actswb"es_ ZSEA Compl￿ all relevant statutory regulations including the Charrties Act 2011. The Data Proteclion Act 2018 and the Privacy and Eleclronic Communications Regulations 2(YJ3. ZSEA always seeks lo art in ways that are ￿gaI, open, h￿eSt. and ￿SpeCtful - strtving for best practi￿, including being registered wilh Ihe Fundiaising Regulator, and adhering to rts Code of Fundraising Pra¢ti¢e and Fundraising Pcomise. ZSEA is carefvl lo moniltsr all lundraisirKJ aCtivit￿S and proy¥Je supports help and inforrnalion via our websrte$. by email, phone, or post. ZSEA will respond to all complaints and r￿entsd r#) com￿alnts in relal#Jn to our frjnd-raisirwj acb"vrtie5 irt 2022. P8ge 12 THE ZOOLOGICAL SOCIETY OF EAST ANGUA UMITED IA ¢omp•ny Ilmlted by guarants•l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Objectives and aclivibe$ l¢ofitinu•d) d. Future devolopments As we emerge from the pand9rn￿, the Trustees are mindftd of both the r>)ntinued p)liti'cal and e￿noMiC unCertaint￿s. The weather presents an ongoing uncertainty on wsrtor numbèfs and remowng pre-booking admission onty, a cowd restriction, has rneant wsrtors b(KJkings now book 'iust in b"me' waibng fw the forecast first. Extreme weather, such as Stomi EunKe, which is bec(wning more frequenl due lo (4mate change irnpacted the srtes U8ing closure during a peak hall lemi w¢ek in February. Key ￿rn$ for the next 12 months i￿L*￿e. . Controll'ng Cost and Managing Cashlkx¥ especially gwen an uncwtain pJ)Jnomic dimale. Defining a Strong Value Member Proposition ReirnagirvJ the Customèr joumey in line with Ihe Wision of the Future . Setting clear KPI'S to delTver MissK>n a Commercial Obithes • Evolwng operational business proce55 aryj effictticy . EvoM"ng the Skills & Cumure ol Colleagues . Further op1irnisatitin of Heath and Safety through digilalisab.on • Access *Jnding and Lay grounoknrk for Vision ofthe Future . Grow our nativè species conservation work wthin the East of EngLand through wllaborations. . Introdu￿ further consefftiion research projects intemalty. . Develop our ConSe￿ation educatv)n teaching proyrammes . New ￿rpOrate prograrnmes covering sustainabilty, climate ¢harftJe and connecth)ns in nature for mindfulrbess. . Continue our work wrthin SEND departments in h)cal schTr)Is through ouireach programmes. . Contiftue our support and work with OLtr charitable pather MIND, promth.ng mental heatth 8nd wellbeing benefits in connectiro lo nature. . Develop new inrb'atNes for our ￿nm￿nty to ensure our spa￿$ are a￿ssIble for all. . Maintsin a txjnlinued emphasis on fiscal control esperyaly gNen an uncertain economic dimale. . Maintaining and rebuilding finaw81 reser¥es whth have been vtsl tn Supporting the ¢harty through a further range of stressed scenarios. . Capex investment into conb.nued maintenance of high 5tsrKlards of animal weffare and wherever possible the continuing implementation of the ZSEA Conservation, conservab.on Edu¢ation and Communty strategies. . Dri*ing wsrtor humbers IhrowJh effecljve marketing strategies. . Rebuilding and consolidab"tvJ teams to improve operat*Jnal and ¢ost effiaeroe5. . Market gr(AYth ol membership and buikding communty scherne5 through di9iial advertising. . A flattening of three seasonal ￿3k$ by maximising al ye8r-round eXperier￿e5 wrth rostauranuanimal experience offering throughout the year.. and . Continued delNery of increased margins and ¥end per head on ￿tering and relail. Page 13 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA U￿￿ED IA company IlmSted by guardnteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Financial review •. Finan¢ial porfomianca The consolidated balance sheet of the group on 31 December 2022 is shown on page 24. wth the Consolidaled income and expen￿rtu￿ 8ccount on page 23 and the con$olwJated slatement of cash on page 26. The group made a deficf( in the year of £449.02512021-. £1.911.616 surp￿$ whil* induded in 2021, £1,328,786 income from Zoo animals fund grant). despite increases in visitor numbers. Thi5 defiLYt arose due to loss of income and ass(￿￿ted addtbonal costs due to stom Euni¢e cknsures of £268,000, I￿reased energy ￿515 as a resu￿ of Ihe energy crisis th"pling budgeted costs m exce55 of £200.LM)O vnthin Ihe last quarter of 2022 and rising sls across animal feed, transfers, and National LMThJ wage increases. The cost-of-liwng ¢xisi5 also impacted secondary spend. h<)wever the posrfion was benefited by agde marketing campaigns delNered a like for like tumover versus 2021. which increased by 2.3%. The group's net assets are £4,125,10912021'. £4.574.1341, the decrease relleclrng the yearf5 defiryt. Nel currènt assets are £446.641{2￿21.. 1.5n.4791. The key financral performance indicators are the weekty number of ￿sitOrS and their spend per head. b. Inv•stmènt pollcy and pgrf0rn4nc• The charty fv)kJs fluciuating cash resevves behvoen 24 months during the year vthith are ptaced on bank deposit wth a 32-day acwunl. 8nd [￿rrertl interest rates prowde 4% ￿tuM e. Golng Conc•rn As part of Ihe Truslees. consideration ofthe appropriatene55 of adopb'ng the going ¢on¢em basis in preparing financial statements, the trustees have noted that the Management Team prepare an annual budget in conjunction WTth all parts of Ihe busrness whi¢X) is then swJned off by the trustees. Then on a monlhty basis, ¢Jetsiled manag8mgnt accounts are prepared and the perlomiarKe revithved compared to budget and prior year Its ensure that the Charity ts perfomiing optimalty. In addition, a rolling 12 month forecast profit and loss aox*unt, baLance sheet and cashlljw is prepared on a monthly basis lo ensure th* the Chanty has lurKls to irwesl ￿MaInS wthin its available ¢xh and reserve targets. The modelI￿g c4Jnsidef3 the macro 8nd m￿r￿OnoM￿ factors. whth i￿￿ude changes in Nth"onal LNing Wage, changes in tsxes. inflation. interest rate changes, the COst￿-1Nry crisis and ri￿ng energy costs. At Ihe same time, the Management Team conts.nue to look for opp￿lun￿ lo increase visitor numbers, welds and reduce ¢osts through ¢ffi￿er￿leS and renew'ons. Based on these rewews, the Trustees have a reasonat4e expectatson that the Compary has adequate resources lo Continue in operational existence for the fo￿See8b1e future. For this reason. they continue lo adopt the going C4)ncern basis in preparing the finanual statements. Further details regarding the adopb.on of rJ)nwn basis can be found in the A(￿L￿￿r￿j PolÈcie5. The prin(#pal source of fvndityJ continues to be from the ge￿[all0n of surpluses from the zts) parks and related trading acb'¥ritses. This is supplemented by donatKJns from Msitors. c(xporale ts4Jdies. and a range of fundraising in￿aliVe$. Page 14 THE ZOOLOGICAL SOCIEfY OF EAST ANGLIA UMITED IA Company Ilmltod by guarantsg} TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 d. Reserves policy The Trustees have reviewed the levd of reseNes required by the Company and GfOUP lo ensure they have the funds to continue lo delNer the chariW5 obj'ethes through fi￿ationS in income and costs. The rewew was info¥rned by experience gained dur¢ng the Cow&19 pandemK. as well 8s thè wkler business expe￿nce of both the Tru$lees and the Management Te￿. The Trustees prime focus is I￿sh reserves in order lo ensure that the Charity maintains a finanaal cushion in case of disiuplion lo operab.ons through extraordinary cirujmstances. This approach has been successful during a very turbulenl few years since 2020 and enable(I Ihe chanty to $uccessfulty navigate the cost-ol-living crisis, the energy crisis and served to ensure the Charty can continue to repay borrowin9. induding the CBILS Loan. wlsi¢h We￿ required to maintsin financial stsbilty during the Cowj pandemic. Cash reserves are cJJrrenty set to cover a three-month per•Jd with an average avaikble cash balance of £1.2m, includi￿d overdraft fau￿be8. At the year end, there were total unrestricted funds of £4.114m. a further £11 k in restricted funds. After exduding restr.cted lurHJs arvj tangible fixed assets. free reseNes in the charity amounted to a deficAt 01 £422k. However, cash reserves are £1.479m lexduding the ¢)verdraft faulty) which is in ex¢xss of the agreed cash reseNe FN)Iicy. The Trustees and Managernent wim continue lo m(￿lI0r ¢ash Teserve leve15 ckjsely. parbcularty given the ongoing economK uncertainty. o. Risk Managoment The Trustees have assessed the rnajor risks lo whth the Company and the Group is exposed, those related to the operations and finances of the Company and the Group and are satisf*d those s￿lemS and procedures are in place lo mrtig81e our exposure lo the major risks. These syslems and pr￿dureS are subject to regular The risk register is revieweil quarte￿ at the Trustees. meetirBJ is updated by Management on an ongoing basis. The key risks idenlthed by the Tnjslees a￿." Loss of admKssKJn In￿Me from extemal factor5, induding ma¢roe¢onorn￿. weather. and extemal factors such as Cowd-19, Avian Flu. or the wsl-of-INing ¢risi$- this is addressed through continuing Tewew and maintaining a reseNes w1￿Y as wdl as a disciplined approath lo costs. A Major operational issue. impa¢b"ng publK safety and causing Teput*"onal damage,. this is addressed through detailed operational wocedure3 whith are rwJulady l¢sted, heamh and Safety training and routine )SF*clion. Page 15 THE ZOOLOGICAL SOCIEfY OF EAST ANGLIA uAl￿ED IA company limtted by gwrantsel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 310ECEMBER 2022 Structure. gov¢mane• and management a. Con¥titutio Tha Company is registered a5 a thartstAe ¢x)mpany limited by guarantee. inc4)￿Orateab"on. Tntslees are elected folk)wng a recruilment process whith indudes interviews by the Chairman and Chief Exer#JfNe. Tw5tees retire on a thr&a-year rotational basis and may be re-el￿tell rf Ihèy PLrt themsel¥es fwaTd. In line with good governance the Board seeks to maintsin a balan￿ mi% of knty•Aedge, skils, and expertise to manage the assets of the Society effectively. During tho next few years, ZSEA wll be athEty r8(yurfing lurther twsteès wilh a dNersty of skn'lls to support their rrtable objectrves, as it is noted that the Trustee rotat￿ is upon us. arKI we aTe theiefore k)oking lo wruit lo replace. c. Policies adopted for the indu¢tlon and tralnlng of Trt￿l Training of Trustees is reviewed against indNidual training ne&ls a fvll introduction and induction to the org8nis8ts.on is given to rw Trustees upon appointmenL d. Remuneration Polky The trustee5 cvnsidere(l the Board of Trustees. Chi&f Exe¢ulive. Chief Finanaal Officer and ZLT Leadership Team to be the key management personnel of the d￿rIty. I members of the 8oard of Trustees gNe their b.me voluntsrity aN1 r￿￿e no financial beneffts from the charity. Managemenl remuneration is rev*wed annuah¥ by reference to perforTnance and Sev￿91 industry references sources. The 8oard ofTru51ees agree rt. Page 16 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA U￿￿ED IA company limrted by guarnnteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Structure. goVerna￿e and rnanagem¢rtt {¢ontlnu•dl o. organi￿11¢nol struc￿10. and maAagThnt Members of the Soc*tys g)veming Board are Trustees ol Ihe Sotyety. The Board's ro￿ is lo oversee the proper managem¢nt and development of the Souety aC￿[dIng to ils aims and objectives, to ensure that the Sooety complies wtth pievailing legislation and regulats)ns, and to make decisions on the key matters facing the Socjety. The Board met forrn￿ty eight times duriNJ thg year. The full Board nomialtry meets four times a year to strategy and perfomance. Infomial rneetings were held in the yeaf where Trustees hold a pa￿.￿lar area of exFertise to support mgmbers of the Leadership Team. The rernrt included. bul was not fimtted to.. reyewing the fina￿¥1 statsments and [￿0Mme￿Jlng tt￿rn to the Board for approval. Monitoring implementabon of recommendabons in audit reports. risk management. audrt, and investment polry. management of govemance and Heath and Safety, and animal W8lkre. All day-lo-day management was dekgale(I to the CEO wrfh the SUKVOrt of the Leadership team. Further lo the reqU1￿mentS laij down by the Charty Commission regarding the reporting and understarKling of the publK benefit, ttje Charitys $trate9ies and artmbes are tested against the overall objectives of the organisalion to satisfy Trustees that ourwork is ￿￿￿dnt and accords WTth our overall chanty endeavour. Statsment ol Trust0￿. rosponsibilities The Trustees (who are also the direclors of the Company for the purposes of o)mpany lawl are responsible for preparing Ihg Trustaes. report and the financial ststements in accordance wth applicable law and United lQngdom Aco)untr"vJ Stsn¢Jards {United lfjngth)ffl Gen¥alty Ar￿pIed Accounting Pwtice). Company law requires Ihe Twsiees to prepare fmanoal statements for each financ￿1 year. Under company law, the Trustees must rK)l approve the financkal stslemenls unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of the¥ incoming resources and application of resources, indudlng th￿'r inc4)me and expenditure. for that Fer•)J. In prepariThJ Ihe5e fin8wal statements. the Trustee5 are required to.. select suitable accounb"NJ and then appty them consistenty, observe the methods and pllnryples of the Charihes SORP IFRS 1021.. make judgments and accountirwJ esb"m818s th* are Teasonable and prudent; stale whether 9ppI￿￿e UK Acojunting Stsndards {FRS 102) have been lolrrwed, subjeci to any material departures disclosed and explained in the financial statements.. prepare the financial statements on the going con¢wn basis un*ss it 1$ inappropriate to presume that the Group wll continue in business. Th8 Trustees are re5ponsth for keeping adequ*e accounting r&xKds Ihat are suffioent to Show and explain the Group and the Companys transactions and disclose vrith reasonable accuracy at any time Ihe financk41 posithjn of the Group 8n¢J Company and enable them to ensure thal the financial statements compty with the Companies Act 20(A. They are also responsible for safeguarding Ihe assets of the Group and the Company and hence for taking reasonaWe steps forthe wevenb.on d￿￿10n of fraud and other irragularitios. Page 17 THE ZOOLOGKAL socEr( OF EAST AIIGLIA UMThED (A ¢omp•ny by guarants•l TRUSTEES. REPORT ICOIITINUEDI FOR THE YEAR ENDED 31 DECEMBER 2022 Dl•elosuro of Infornwtlon to audltor• Each of Ihe petsons wh) we Trustees at the lime ttms Trustees. reFQrt L8 3pwove¢J has c￿Me￿ that.. so far as that Trusle8 is war8. thw8 is rn re￿nI a￿lIt nfcffmathjn of whKh Ihe dwTrtable group's a¢Jditors are urwrare. and that Trustee ha5 tsken 41 Ihe steps that ought to been taken as 8 Trustee in order to btr *are of any relevant audrt inform￿.0￿ and lo estab￿"Sh that the thwrtaL4e groLV'S audrtors are *ware of that information. Auditorn The auditors. L8rking Gowen LLP. have indicated thew ￿Tir￿JnesS to cL)ntinue in office. Th& d&s￿nated Trustg9S wil propose a motion reappointing lh8 auditors al a meeting of the Truslees. Approb*d ty ordor of the m8mb8rs ol the board of Trustees ￿ %gned on their tehalf ty. GFSmlth Trustee D*e2C• Icq12023 Pa99 18 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA UMITED (A company limited by guarnntsol INOEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGUA UPJJITEO Opinion We have audited the financial statements of The Zoological Swety of East AJ)gl¢a Lirnited11he'parent charttable LY)mpanll and rt3 sub3hliarbes Ilhe 'group'l foi the ye8r ended 31 DeL*mber 2022 which comprise the Consolidated statement of financHI actiwties, the Consolbjated balan<* $heet, the Company balance sheet. the Consolidated 5talèmenl of cash fky•ts and the related notes, induding a summary of Signif￿nt ac¢ountiThJ p￿l￿es. The financlal reporting framework that has been applied In their preparation is applicable law and Unrted Kingdom A¢￿￿ntIng Stsndards, induding Financial ReFM)rtirtg Standard 102 'The Finanrial Reporting Stsndard applrable in the UK and Repu￿￿ of Ireland Iunrted ￿"ngdoM General￿ Accepted Accounting Pract￿1. In our opinion the financ￿1 statemenl5-. giv8 a tr￿ and fair ¥Aew of the state of the Group's and of the parènt charitable companys affairs as at 31 D¢cember 2022 and of the Group's Inc￿mIng resour￿ and applution of resources, induding rts income and ¢xpenditurg for the year Ihen ended.. have been properly p￿pared in accordance with Unsted lfjrydom General￿ Accepted Accounting Practice," and have baen prepared in accordartt with the requirements of th& Compan￿5 Act 2006. Ba818 for opinion We conducted our audit in accorda￿ WTth Interr￿n81 Stsndards on Auditing (UK) IISAS {UK)l and applicable law. Our responsibilities under those staThJards are further described in the Auditors. responsibil￿'e$ for the audf( of the financial statements sectK)n of our report. We 8re independent of the G¥oup in accordance with the ethical requirements that are ￿levant to our audrt of the finanryal ststwnents in the Unrted Trtht)gdom, including the Financial Reporting Coun¢il's Elhi¢al Stsndard. and we have fulfilled our other ethical responsibilrties in accordance with these requirernents. We believe that the audit evidence we have obtained is sufficient and appropriate lo provKle a basis for our opinM)n. Conclusions relating to going ¢oncem In audthng th8 financial slatemenls. we have conthded that ￿ Trus1￿, Ltse of the going cot)cern basis of 8¢thJnling in the p¥eparatK)n of the finan¢AI statements appropriyts. Based on the work we have perfO￿￿ed, we have not identrf*d any materi81 uncertainties relating to events or Cond￿on$ that. individualty or c￿llect￿elY, may czsl signffi(anl doubl on Ihe Group's or the parent tharrtable mpanV5 ability to continue as a goirvJ con¢em for a per#)d of at ￿a51 twel￿ months from when the finanrAal statements are authorised for issue. Our responsibil￿eS and th¢ responsibilrfies of the Trustees wilh rèspect to going t))neem are das¢ribed in the rekevant sections of this report. Page 19 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA company limitod by guarants•) INDEPENDENT AUDITORS. REPORT TO THE MEM8ERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGUA UIIITED ICONTINUEDI Other inforn)alion The other informab.on comprises the infom7at￿ ir￿d￿j in the Annual report other than the finarKial slalements an¢J our Auditors, report thefeon. The Twste&s arè responsible for Ihe other infomialion ts)nlained within the Annu81 report. Our opinion on the financial statements does Th)t cover the other informatson and. except to the extent otherswse expltcrtty stated in our report. we do not expfess any fomi of assurance conclusion thereon. Our responsibility is to read the tslher infomatw)n and, in doing so, con5Kler whèthèr the other inlormation is materialty inconsistent WTth the financial statements or our kncr*Aedge obtained in ￿Urse ol the 8udit. or otherwise appears lo be materkalty misstated. If we Kjentsfy suth material inconsistenrAes or apparent material misstatements. we are required to determine whether ihis gtves rise lo a matèrial misstatement in the financial statements themselves. If. based on the work we have performed, we o)ndude that there 1$ a material misslalement ol this olhsr information. we are required lo ¥ewt that f•* We have nothing lo report in this regard. Opinion on other matt•rs prescribed by the Companies Att 2006 In our Opin￿n. based on the woth undertaken in the ojurse of the awjrtr Ihe information gNen in tha Truste8s' rewi for the financAal year for whit* the ffinan¢hal $tstemenl$ ar8 prepared is consistent wrth the finanaal statemenis. the Tru5tees' report has been prgpared in acCOrdar￿ with app[l￿ble leg81 requirements. Mattors on whlch ￿ arn rBquir•d to rtport by ox¢optlon In the Iwjht of our knth￿edge and understanding of the charrtal)le o)mpany and its gnMronm9nt obtained in the oiuTse ol the audrt. we have not identif*d material misstatements in the Tntstees, ￿port. We have nothing to report in respeci of ￿ fo￿￿Tr) matters n relation to whth Companie5 Act 2CX)6 requires us lo report to you if, in our opinion.. the parent ¢h8rtsble company IHS not kept adequate and suffirient xo)unling reu)rds, or return$ adequate for our audtt have not been re￿Ved frorn branche5 not wisiled by us," or Ihe parent tharitabte company financial statgments are not in agreefflent vthh the a¢￿U￿"n9 records and retums.. or certain disclosures of Trustees, remuneration $pecffied by Law are rwjt made., or we have not received all the infom)atth aNI explanalions we rewire for our audiL Respon8lbilItfi￿ of tw$t As explained more in the TnL8lees' resp￿$bIlbe$ slaiement, the Trustees (who are aL80 the directors of the charitabk company for the purposes of company Iwwl are ￿SponSible for the preparation of the financial stalernent5 and for being satisfied that they gnrt a Irue and fair v￿w, and for such internal control as the Trustees detem)ine is necessary lo enable the preparab.on of financial ststements th* are fw from material misstatement, whether due lo fraud or error. In preparing the finanrjal stalernenls. Ine Trustees are responsible for assesstng the Group's and the parent charitablè companrfs abilty to continue as a goiThJ o)ncem. diK405ing. as appl￿ble. matter5 related to going concem and using the going urse of business,. and revEwing the charws ongoing IKense to oper*e, and reviewrvJ finditvJ$ of any regulatory inspecb.ons taking placa during the year or after. A furfher d8sMplion ol our reSp￿sibltbes for the audTt of the f￿ar￿la1 statements is located on Ihe Financial Rèporting Council's w8bsttè at.. VhW.froorg.iJklauditorsresponsbilbes. This deSCript￿jn fomis part of our Audrtors. report Page 21 THE ZOOLOGICAL SOCIEfY OF EAST AIIGUA UMITED IA company limit•d by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED {CONTINUEDI U$• of our r&port This ￿port is made sotety lo the charitable Ixjmpanls m8mbers, as a bojy. in acts)rdance wth ChapleT 3 of Part 16 01 the Comp8niès Act 20(E. Our audrt work has been undertaken so that we might state to the charrtable eompanls members those matters we are requiied lo state to them in an Auditors, report and for no other purposè. To the ful￿st extent pemrtled by law, we do not accept Of assume responsibility to anyone other than the charrtabl& company and its member5. a5 8 t*)ty. for audrt work, for this reporL or for the opinion5 we have form&Y. Gl1•8 K•rkham FCA DChA IS•niorstatsrtory audito for and on behalf of Larking Gowen LLP Chartered Accountants Slalulory Auditors 1st Fbor, Prospect House Rouen Road NO￿leh NR1 1RE Date.. 26 September 2023 Page 22 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA LIM￿E0 (A company llnited by guaraAt••l CONSOLIDATED STATEMENT OF FINANCIAL ACTivmES (INCORPORATING INCOME AND EXPEND￿uRE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Restricted funds funds 2022 2022 Totsl fvnds 2022 Total funds 2021 Mote Income from: Donations and legacies Charitable aclivilies 210334 4.570,S71 1363.475 4082 1$0,677 210.234 4.570.571 2.363.475 4.082 150,677 735,391 5,769,405 2, 130,389 Other Irading actmties Investments Other income Total incomo 7.299.039 7.299,039 8.635, 185 Expènditurè on: Raising fvnds Ch8Trtable actmties 1374.229 5.334.037 2.374,229 5.373,835 2,258,442 4,465, 127 39,798 Total expenditurn 7.708.266 39,798 7.748.064 6, 723,569 Net mov¢mont In lunds 1409.22n {39.7981 1449.0251 1,9f 1,616 Re¢oncili•tion of fund•- Total fund5 brought fowrd Net movement in fijnds 4.523.121 1409.22n 51.013 139.798) 4.674134 1449.0251 2,662,518 1,911,616 Total funds carried foThvard 4,113.894 11.215 4.125.109 4,574, 134 The Con501Klaled stslemenl of fmancial %liwbes indudes al gains and kJ55es re¢oynised in the year. The notes on pages 28 to 55 form part of these financaal $latemenls. Page 23 THE zOOL0G￿AL SOCIEff OF EAST ANGLIA UMITED IA company limited by guarantee) REGISTERED NUMBER: 08250951 CONSOUDATED BALANCE SHEET AS AT 31 OECEMBER 2022 2022 2021 Note Fixed assets Inlan9iblè assets Tangible assets Current assets 13 14 83.325 4462,970 4,413,644 Stocks 16 17 89.430 263.093 1.479,492 92,805 466,280 2.942.234 Debtors Cash 81 bank 8nd in hand 1,832,015 3,5Ql,319 Crèditors." amounts faHing due wthin 18 11.385,374) (1.927,840J Net currnnt assets I liabilltl•s 446.641 1,573.479 Total assets less current liabiliti 4,982,936 5,987, 123 Credstor5'. arnounls falling due after more than one year 19 18S7.8271 (1,412,989) Totsl not 4s$8ts 4.125,109 4,574, 134 Charlty funds Rastricted lunds.. Restr￿ted funds 20 11,21S 51,013 Totsl restri¢ied fvnds Unrestricted fvnds 20 11,215 4.113,894 51,013 4,523, 121 Totsl funds 4125.109 4.574, 934 The Trustees a¢knowledge their responsibil￿eS for ojmplwng with Ihe requirements of the Act with respect to a￿oUntIng rec4)rds and pfeparab.on of financial statements. The financial slalemenls were approved and authori9￿ for i%sug by the Trustees atKI signed on their tr*half by.. G F Smith Chaimian D8te. 1010112C)L The notes on pages 28 to 55 foTh part of these financial statements. Page 24 THE ZOOLOGICAL SOCIEfY OF EAST ANGLIA LIMITED IA comp•ny Ilmlted by guar•ntèè} REGISTERED NUMBER." 08250951 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2022 2022 2021 Fixed assets IntsngiL4è assets Tangible 8ss8Is Invèstments 13 14 83.325 4087.619 4,099,964 15 4,150.945 4,099,965 Currnnt assets Slocks Debtors Cash at bank and in hand 16 18,335 647,886 IA74,984 3,937 1,176, T80 2,561,888 17 2.141.18S 3.742,605 CTeditors'. amounts faHing due wrthin ( year 18 11.278.388) (1.855,447) Net ¢urrenta$sets I Ilabllltles 862.797 1,887, 158 Total assets Igss current liabilii¥e* 5.013.742 5,987, 123 Creditors.. amounts falling due after more than one year 19 1857.82n (1,412,989J Total not assets £155,915 4,574, 134 Charlty lunds Restricled funds 20 11.215 51,013 Total restri¢te(l fvnds Unrestricted funds 20 11,215 4.144,700 51,013 4,523. 121 Tolal fttnds 415S.915 4,574, 334 The Companys nel movement in fvnds fof the sparwas £(418.2191 {2021- £1,985,641). The Trustees acknowkdge their respon5ibilth"e$ for 0)mp￿"n9 With the r￿UIrementS of th& Aci with rèspect to a¢¢ounting records and preparation of financial statements. Page 25 THE ZOOLOGICAL SOCIEff OF EAST ANGUA UMffED IA company limited by guaranteel REGISTERED IIUMBER: 08250961 COMPANY BALAMCE SHEET ICONTIMUEDI AS AT 31 DECEPABER 2022 The financial stslements were approved and authorised for issue by the Twstees and signed on their bahalf by.. GFSmith Ch8iman Date. IQ) Ic812023 The notes on pages 28 to 55 form part of these fina￿al statements. Page 26 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA Um￿ED IA company Ilfflited by guarnntse} CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022 2022 2021 Cash tlows from oporatlng a¢tl¥ltles Net cash used in operating acbvitjes 1392,0151 2,406,640 Cash flows from Inv•stlng actlvltl•s Interest paid PrC￿eedS Irom the sale oftangible fix&J assets Purchase of intangible assets Purchase of tangibk fred assets 166.8041 1.366 190,9001 1439.S841 {1,204,836J (41, 135) Not ¢a$h us•d In Investlng a¢tl¥ltl¢s 1585,9221 11.245,9711 Cash Ilows from financing •¢ti¥ifjos NewllRepayment$l of borrowng Rapaymants of finane8 lèasès Other kjans 1241.4431 (162,543) (9, 125) (444, 137) 1243.3621 Not cash usod in financing a￿1¥1￿0¥ 1484,805) (615.8051 Chango In ¢a8h and ¢a8h oqui¥¥knts In the year Cash and cash eouivalents at thg Winning of the year 11.462,7421 2.942,234 544.864 2,397,370 Cash and cash equivalents at the end of the ￿•r 1.479A92 2,942,234 The notes on pages 28 to 55 fomi part of these finanaal statemwrts Page 27 THE ZOOLOGICAL SOCIEfY OF EAST AWGLIA UMITED (A company14nited by guarnnteel NOTES TO THE F114ANCIAL STATEMENTS FOR THE YEAR ENDED 31 OECEMBER 2022 General infonnation The Zoological Society of East Anglia Limrted is a pnvate company limited by guarantee incorporated nd dornieiled in England and Wales, regislration nurnbei 08250951. The add￿$$ of the reglstered office is Zsea Zoo Hq. Kenninghall Ro￿, Banham, Norfdk, NR16 2HE. Accounting poll¢i 11 Basis of propaTrtion of finan¢i•l *tstements The finan¢i81 ststements have been prepared in accordance with the Charitse5 SORP {FRS 1021- Acwunting and Reporb"ng by Charibes". Statèmènl of Reo)mmended Practice applicable to ch8rrties preparing their accounts in acr4JrdarKe with the Finanaal Re￿￿"ng Stsndard appIl￿ble in the UK and Republic of Ire&nd IFRS 1021 {effeclive 1 January 20191, the Financial Repoth"ng Standard applicable in the UK and Republ￿ of IreLgrKI IFRS 10213rKI the Companies Aet 21JO6. Tha financial statements are presented in steding is the frjndional ryjrrenry of the group and rounded lo the neafest £ The Zoological SOc￿ty of East Anglia ￿rnited meets the definition of a public benefrt entity und&r FRS 102. Assets and 1kgbilit￿ are initially recognised at historvl cost or transaction value unless otherwise staled in the relevant atyxjunb.ng t)oly. The COnSd￿ated statement of finarKial actNi1￿S ISOFAI and Consolidated balar￿e Shg consofid8le the finanryal slalements of the Company and its subsKliary undertaking. Tha results of the subsidiary are consolKlafed on a line by line basis. The Company has taken thantagè of the exampbon alhy*ed under sgction 408 01 the Companies Act 2006 and has ￿t presented ts ovm Statement of financial acb"vrtVd5 in these financial 51alements. Page 28 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA UMITED IA company limttèd by guardnteel NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Icontlnuodl 12 Golng cone•m As part of the T￿￿tee$. o)nskle{a￿n of the apprOp￿tenesS of adopting the going concern basis in preparing finanual statements, the trustees have Trjted ihal the Management Team prepare an gnnual budget in ¢onjunction all parts ol the business which is then signed off by the trustees. Then on a monthty basis. detailed management ￿)unt$ are prepared, and the perforniance rev￿Wed compared to bLbJget and prior year to ensLwe thal the Charty is wfoming optimalty. In addTtion, a rolling 12 month forecast Profft and kjss accounl. balance sheet and cashflow 1$ kNepa￿ on a monthty basi5 to eftsure that the Socaety has funds to inve51 and remain5 within its awdilable rash and reseNe targets. The mod¢lling considers mauo and mic1￿0)nOM￿ factors, whKh ir￿￿je change5 in National Living Wage. chaThJ8s in taxes. iThyease(l infiabon on the Gharrty, the cost-of-h'wng crisis and rising ener9y costs. Al the $8me time, the Management Team ￿nIInue to kN)k for opportunthes to in￿a$9 visitor nurnbers. yield5 and re(luce costs through effiThen￿$ and renegolth"ons. Average cash rgserves of 3 months. expenditure C¥)ntin￿ to be hekj lo protect against any unexpeGled c4JsI increases or sh)rt-temi bjss of in￿Me. and to ensure Ihat Ihe charity can continue lo sustsin rtselr. Based on these rev*ws. the Trustees have 8 reasonable expectstion that the Company has adequate resources to continue in operational existence for the loreseeable 1LrtU￿. For this rea50n, they conts.nue lo adopt the going o)ncem basis in preparing Ihe finanual statements. Page 29 THE ZOOLOGICAL SOCIETY OF EAST ANGUA UMITED (A company limited by g￿Tant•*) NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 ounting polielas leontlnu•d} 2.3 Ineomo All incorne 15 rets)gnised once the Company has entiuement to the In￿)me. rt is ptobable thal Ihg income wdl be receNed and the amount of irKy)me r￿￿b&S can be measured reliably. The recognthn of income from lega￿S is dependenl on estsblishing entillement, the probability of recèipt and the abibty to estimate with sufficieni acturacy the arnount rèCeWab￿. Ewdence of entitjernent lo a legacy exists when the Company has sufficient evthnce Ihal a gift has been left lo them (through knowkdge of the existence of a valid wil and the death ol Ihe benelactorl and the executor is satisfied that the property in quesbon wil not be required to $8b"sfy daims in thè estate. Receipt ol a legacy must be re¢tyJnised when rt is probable that it wll be received and the fair value of the amounl receivable, whth w￿1 ge￿[aty be the experted lash amount to be distributed to the Company. can bè rdiabty measLKed. Grants are induded in the Con501Kl8led 5ts1ement of finanoal actNities on a recavable basis. The balance of income received for specffic purposes buf noi experKJe(I during the period is shown in the levant fvnds on tha Balancè sheet. Where incomè is received in advance of enlitlemenl of receipt, its reCognit￿n $5 deferred and induded in crediloF5 as defotred income. Wh￿e eAt￿ement occurs befoie income is receNed. the irKome 15 accrued. Income tsx recovefabk in relation lo inwlmenl ino)me is recognised at the time the investment inojme is TeceNable. Adrni55KJn incorne is ¥e¢ognised in the per￿ in which it is receNab* and to the extenl the goods have been provided or on compkts'on of Ihe serKe. Proceeds from sale of annual passes ts inthalty defwrgj and SUbS￿UenttY released on a straight line basis across the pericKI tts which the pass relates. Donatrjns a￿ recognised in the in whth they are received. 2.4 Expenditu¥• Expenditure is rewgnised on¢* there is a legal 01 constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of econom￿ benefit5 wl be required in settlement and the amount of the oblwjalion be measured ￿liaNy. Expenditure is daSs￿d by activty. The cost5 of each activity are made up of the total of direct costs and shared costs. induding support costs involved in undertaking each athwty. Direct costs attributable to a single actwty are albcated directly to that actNty. Shared ￿5t5 whith contribute to more than one athty and support costs which are not attributable to a singEe activity are apporboned befvveen those acaNiiies on a basis cL)n51slent with the use ol reSoUr￿s. Central stsff co$15 are *kxaled the bas￿ ol bme s￿nt. aNI depwiation charges allocated on the portion of the asseys use. Expendrture on rdisirvJ lurhds indudes all expendrture irmxjrred by the Group lo raise funds for its charitable purposes and indudes costs of all fvndraisiro acbvities events and non-charitable trading. Expendrture on charitable acliwties is incurred on dire• undertaking the actimties which further the Group's obJ"ecb"ves. as well a8 any 88￿x81ed support ￿$1$. Page 30 THE ZOOLOGICAL SOCIEff OF EAST ANGLIA UMITED IA company limited by guarnnteel NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounttng policie¥ l¢ontinu8d} 2A Expendityre (continued) Grants payab￿ a￿ charged in the year when the offw is made except in those r*ses where the offer is condrtional, such grants treing recognised as expeThJitUfe when the condition$ attaching a fvlfilled. Grants offered subiect to condilK•ns whth have not been rnel al the year end are noted as a commrtmenl. but fM)l accr￿ as expendrture. AJI expenditure is ir￿US￿e of irrer¥)verable VAT. 2.5 Government grants Govemmenl grants rdating to tangible fixe(l assets we treated as deferred income and raleased to the Consolidated statement of finaniial activibes over the expected usefvl INes of the assets conc8rnéd. Other grants are uedrted to the Consokdated ststemenl of financhgl activ￿eS as the related expendrture is in￿rTed. 2.6 Int•r•st r•c•ivable Interest on lunds hekl (x) deposit is inthded re¢Wab￿ and the amount can be measured reliabty by the Group., this is normalty upon nOtifi<￿tiOn of the inte￿1 paid or payable by the institution wrth whom the IvrKls are deF¥)sited. 2.7 Intangible assets and amortisalion Intangible assets ojsbng £500 or more are capitai5ed and recognised when fuiure gconom beneffts are probabk and the o)st or value of Ihe asset can be measured reliably. Intangible assels ale inrtialy re¢ognised at cost. After rewnthn, under the cost rnodel. intangible assets afe measured at cost less any 8￿mU￿ted amortisation 8nd any accumulated impairment losses. Amortlsation ts pw(led on intaThJible assets at rates calcJJlated to vnite off the cost of each asset on a straighl-line basis over ils expected useful ￿te. AmOrtisat￿D is proMded on the fokn¥ing basis". Computer sothyare 20 % Straight Ine 2A Tanglblg Ilxed assets and deprn¢iation TangitAe fixed assets ￿)slIng £5(K) or more are caprtalwd and re¢ognÉsed when luiure economic beneffts are probablg and Ihe cost or Val￿ of the asset can b& measured relpbly. Tangible fixed assets are inrfialty re¢ognisoJ at cosl. After recognrtion. under the cosl model, tangible fLxed assets are measured at cost kss a￿umUlated depreciatitsn and any accumulated impairment losses. All costs incurred to bling a tangl￿ frxed a55et into its intended working condition should be inchjded in the measurement of cosL Page 31 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LthIITEO (A ¢ompny limitsd by gu•rant•el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2022 Accounting policigs Icontinuedl 2.8 Tangib10 fix￿ a8$0ts and doprn¢iatlon lcontlnuodl Depfecjation is charged so as to alC￿ale thè r•)st of tangib￿ frAed assets less their residual value over their estimaled useful lives, . Depreaalion is pw.deil on the fokming bases: Leasehold piopety improvements Motor Veh￿eS 2￿ reducing balance Fixtures. fitb.ngs 8rKI equFpmenl - 25% reducing balan¢8 and 5% str8Lqhl line Computer equipment 20% straighl line Animal encb)sures - &5% straight lir - 2% stravJht [￿e Assels in the course of o)n5trudion are not depreciated unts"l after they are I￿￿ght into Use. 2.9 Invfjstments Fixeij a33ei investments We a foTm of fiTh8no￿ instrwnenl and are intb.alty ie¢ognised at their transaction cost and subsequenty measLwed at fair value at the Balan￿ sheet date, unless the value cannot be measLtred rdiabty in whth case rt 1$ measured at cost less impaimient. Investment gains and k)sses, whether reali8ed or unrealLsed, are combined and presented as 'GainsllLosses1 on investments, in the Consolidated stalement of finarKial actiwbes. Investrnents in subsK1iaries are al ￿91 less Provis￿n for impwmienl. 2.10 Stocks Stocks are valued al the knver of ojst and net realisable value after making due alknwance for obsolete and slow-Mo￿ng $to¢ks. Cost in￿deS all di￿¢1 ¢o$ts and an appropr¢ale proportk)n of fixed and variable overheads. 2.11 Debtors Trade and other debtors are reojgnised at the settlement amount after any trade discount offered. Prepayjnents are valued at th9 8mounl prepaid nel of any ￿le dis¢ounls due. 2.12 Cash at bank and in hand Cash at bank and in hand indudes cash and short-lerm highty liquhl investments with a short maturity ol threg month$ or k$$ from the dale of aCquis￿.0n w opening 01 deposrt or similar ac(>Junl. Page 32 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA ¢ompany Ilmlt•d by guarantotr} NOTES TO THE FINANCLAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2022 Accounting policies l¢ontinwd) 113 Liabilllies and provislo Liabil￿"e$ a￿ recognised wfien there 15 an obltyatM)n at the Balance sheet dale as a result of a past event. it Is probable that 8 transfer of economic benefit te required in settlement, and the amount of thè setllemenl can be estimated reliabty. Liabilthe5 are re¢>)gnised at the amount that the Company anticipates it wll pay to settle the debt or the amount it has received as advanced payments for the gtN)ds or semces rt must prowde. Provisions are measured at thg best estimate of the amounts required lo settle the obligation. Where thè effeci of the time Ydlue of money is material, Ihe prow5ion is based on the present valua of those arn￿nts. discounted at the pre-tax disrL)unl rate that reflecls the risks specffic lo Ihe l￿bIlIty. The unwinding of the dis(xiurrt is reeognised in the Consok1*d stalernenl of finan￿#13¢t1V1tles as ffinance cosL 2.14 Financial instruments The Group onty has ffinancthl assets and finanaal liab1K￿S of a kind that qLJalify as basic financial instrurnen15. Bas￿ financial instruments are inth.alty re¢ognised at transaction value and subsequenlfy measured at their setNement value wrth the excepts'on of bank knan5 which are subsequentty Measu￿(1 at amortwd ¢osl using the ellectwe interest melhc¥J. 115 Flnance leases and hi￿ pur¢haso Assets obtained under hire purchase contracts and finance leases a￿ Capitalised as tangible fixed &ssets. Assets acquired by finanf* lease are deprec4ated over the shorter of the lease lem ar￿ their Useful lives. Assets acquired by hire Pufchase are depreoated over their useful lives. Finance leases are those where subslanl]"alty all of the benefits and risks of ownership a￿ assumed by the Group. OblvJth"ons under suth agreement5 are In¢￿ded in cxedrtor5, nel of the finance charge allocated to future periods. The finance element of the rental payment is charged lo the Consolidated st8temenl ol financial acliwt*s so as to [￿QdUt* a conslant perpjdic r*e of tharge on the nel oblig*ion outstanding in each period. 2.16 P¢n*ion$ The Group operate5 a definwj ￿nIribUtIOn pension scheme and the pension charge represents the arnounts payable by the GroLV to the furKI in respe¢t of the ye8r. 2.17 Zoo Ll¥•stock Zoo Livestock is carried at £Nil value. Page 33 THE ZOOLOGICAL SOCIETY OF EAST ANGUA UMITED IA ¢omyny Ilmited by guarants¢l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 A¢¢ountlng policies {continu¢dl 2.18 Fund accounting General fvnds are unrestrKted funds whKh are available for use al the disuets.on of the Trustees in furtheran￿ of Ihe gengrd objactives of the Group and whth hav8 nol been designaled lor other purpose5. R8StrKled fvnds are lunds whith are to be used in accordance writh specffic reslricb"on$ impose(I by donors or whith have been ra￿ed by the Group for particukr purposes. The o)sts of raising and adrninistering such fvnds are charged againsl the Spe￿fiC fund. The aim and use of trach restricted fund is set out in the r￿leS lo the finan¢AI slatements. Investsnenl income, gains and losses are a1￿Cated lo the appropriate fvnd. Judgemonts in applying accounting policies •nd key ¥ouYees of ￿tiMation unc8rtainty The Truslees are required lo make judgements, estimates and asSumpli￿S about the carrying amounts of assets and Ik?bilities Ihat are not readity app8￿nt from other sources. These esttrnates and jLtdgernents are conlinualty evaluated and are based on historical experience and other factors that are considered ielevant. AGIL￿1 results m8y drffer from Ihese estimates. The judgements, estimates and assumpfhjns whth have S￿nth¢ant risk of causin9 a material adjustmant to the carrying amount of a$sg1s and liabik'lies within the ne￿ financial year are addressed bel¢)w.' economic INes of tan ible as The 8nnual depre￿ation charge frjr iangible assets 15 sensitive lo change5 in Ihe estirnaled useful econom￿ INes and resKlual values of the assets. The useful economic INes and residual values are re- 8ssess¢d annually. They are amended when necessary lo rellecl current estimates. based on technol(yJical adwdn¢gment. fvlure estimaies, economic ub'lisation and the physical condition of the assets. See note 14 for the caT￿ng amount of the propety plant and equipment, and note 2.8 for the useful e￿noMiC INes for eath class of assets. Income from donotion¥ and1ogacl•¥ Unrestrictsd funds 2022 Total funds 2022 Don8tKJns Grft aid Grants 92.523 102,711 15.000 92.523 102.711 16,000 210.234 210.234 Page 34 THE ZOOLOGICAL SOCIETY OF EAST ANGUA UIAITED (A ¢omp•ny Ilmltsd by guaranto•1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2022 In¢oM• from donatiom and l•ga¢i•s lcontlnuodl Unrestnct8d funds 2021 Total funds 2021 Donaliorks Gift aid Gr8nls CJRS IGo¥emmenl grant) 168,918 359,321 54, 798 152,354 168,918 359,321 54, 798 152,354 734391 735,391 Incom& from charliablg acliviti•s unr￿trIcted funds 2022 Totsl funds 2022 Zoo 8nim81s fijnd grant Visrtor income lo pa*s 4,570,571 4,570.571 4,570.571 4,570,571 UnTrs(ricted funds 2021 Restiycted funds 2021 Total funds 2021 Zoo animals fund grant Visitor income to zoo parks 1,328,786 1,328, 786 4,440.619 4,440.619 4,440.619 1,328, 786 5, 769,405 Pa￿ 35 THE ZOOLOGICAL SOCIETY OF EAST ANGUA u￿￿ED IA con¥)any Ilmltad by guarant••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIIDED 31 DECEMBER 2022 Incom8 from other trading •¢tfvltlos Income from non charilable trading •¢tiviti Unmtri¢ted funds 2022 Totsl fvnd$ 2022 Other income 839 2,362,636 839 2.362.636 Trading in¢x)me 2,363,475 2,363.47S Unre81ricl8d funds 2021 Total funds 2021 Other inc4Jme Trading income 1,719 2, 128,670 1,7t9 2, 128,670 2, 130,389 2 130.389 Other in¢oming rvaourc•s Unrestricted funds 2022 Totsl funds 2022 Tot81 funds 2021 Insurance proceeds- TwliThJ Insurance proceeds- Charty 39.451 111,226 39,4S1 111.226 150,677 150.677 Page 36 THE ZOOLOGICAL SOCIEfY OF WT AMGUA UMITED {A company limited by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Exyndltur• on r•lslng funds Fundraising tradtng Unrestrlct8d lund¥ 2022 Total fund¥ 2022 Cost of gocds sold All other costs 1.036.369 81.442 1,116.091 56.289 15.017 69.021 1.036,369 81,442 1.116,091 56.289 15.017 69,021 Wages and saLaries National Insurance Pension o)sts Depreciation ol tangible fixed assets 2.374,229 2.374,229 In¢ludeil vnthin the above are akn*ed r¥)gts of £28.965 {2021.. £97,164) that are head office support costs whth have been recharged from the charity to the tr*Jiro subskyiary on an actwity basis. Page 37 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA com￿nY limit¢d by guar•Thts•l IIOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Expenditure on raising fvnd¥ leontSnwll Fundrnising trading expenses Iconlin Unrestricted funds 2Q21 Total funds 2021 Cost of gwd5 sokj All other costs WwJe5 8nd salaries Depw¥81ion of langiblg fixed assets 962,555 146, 793 1, 116,670 32,424 962,555 146, 793 1, 116.670 32,424 2,258,442 2,258,442 Analysis of oxpenditure on charitable actsvths livibe5 Gr¥nt undertaken funding of dirncty acti¥itiOS 2022 2022 Support costs 2022 Total funds 20Z2 ExperK1rtU￿ ￿ runniThJ the zoos 3.761.869 40,619 1.571.347 5.373.835 Aclivittss undgrtakon s{Jp￿)rt osts 2021 Total funds 2021 2021 Expenditufe on running the z(K)s 3, 141,462 1,323,665 4,465, 127 Page 38 THE ZOOLOGICAL SOCIEfY OF EAST ANGLIA UMITED IA eompany limited ty gu#rants•} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Anatysis of axpenditurn on ¢haritabl• xtlvltles Iconllnu•d) Anatysls of dir•ct Costs Totsl funds 2022 2022 Stsff costs Dèpretyalion Direct animal costs Direct tx)nservab"on costs Park running costs markeb.ng Fin8n¢e N)¢ome and expense8 2.038.422 296,253 526.374 2,117 615.959 225,940 56,804 2.038,422 296,253 526.374 2,117 815.959 225.940 56.804 3,761.869 3.761.869 Total funds 2021 Aclwits"es 2021 Staff costs Depreciation Direct animal costs Direct ￿nserV8￿.0n ￿$ts Park runnirYJ ￿$ts Marketing Finance income arKI expenses 1,878,063 234, 705 334,215 75,056 SS7,666 70,622 41, 135 1,878,063 234, 705 334,215 15,056 567, 666 70,622 41, 135 3, 141,462 3, 141,462 Page 39 THE ZOOLOGICAL SOCIEff OF EAST ANGUA UMtrED IA company linwted by guarnftteel )TES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Anatysl¥ of •xpendiiure on charitable actsvitRs lcontinuedl Anatysis of support Costs Total funds 2022 A¢tivitiè$ 2022 Staff o)sts 510.997 25.958 964,225 57.736 12.431 510.997 2S.958 964.225 67.736 12,431 Deprec4ation off￿ costs. r*es. insurance Information lechnok)gy Offre costs 1,571,347 1,571.347 Total funds 2021 Acbvibes 2021 Stsff o)sts Depreciation OfficE costs. rates, insurance Information l¢ehnology Office costs 371,539 15,809 858,969 68,776 8,632 371.539 75,809 858,969 68, 716 8,632 1,323.665 1.323,665 10. Auditor5. remunerntion 2022 2021 Fees payable to the Companrfs audrtor for the audit of the Comp8nY5 annual accounts 17.950 12. 735 Fees payable to the Compan￿$ audrtor in respect of. Audit fees payable for audit of subshyiary accounts I notFaudit se￿￿$ not induded above S,9SO 950 4,225 Page 40 THE ZOOLOGICAL SOCIEff OF EAST ANGLIA U￿￿ED {A company limited by gu•rnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 11. Staff costs Group 2022 Group 2021 Company 2022 Company 2021 Wages and salaries SocAal security costs Contribub'on to defined contitjution pension sehemès 3N20.317 263.121 3.185,552 141,097 2,274A09 196.832 2,068,882 141.097 63.378 39,623 48.361 39,623 3.736.816 3,366,272 2,519,602 2,249,602 The average number of persons èmployed bylhe Compary during the ye8f was as folhjws.. Group 2022 Group Company 2021 2022 No. No. Conwny 2021 No. Emphjyees 212 91 The number of empk*yees whose empk)yee beneffts lexduding amployer pension costs) ex￿eded £80,OCMJ was." Group 2022 No. Group 2021 No. In the band £70,001- £80.C#]O In the band £80.001- £90.C¥JO Key management rem￿eratiOn during the year totslkd £271,654 12021.. £210.9521. Thg Group's key management ￿pr￿S the ser￿Or management team oflhe Charty and its subsidiary. P89¢ 41 THE ZOOLOGICAL SOCIEfY OF EAST ANGUA UMITED IA company Ilmit•d by guarnnta•) NOTES ro THE FINANCL4L STATEMENTS FOR THE YEAR ENDEO 31 OECEMBER 2022 12. Trustees. rnmuneration and •xp•nM8 During the year, no Tnjstees re￿Ved any remLtneration or other beneffts (2021- £NIL). Duriro the year ended 31 December 2022. no Trustee expenses have been inC￿lre￿ (2021- £NILJ. 13. Intangible 0¥3ets Group and Company Computsr sOf￿are Cost Add￿'onS 90,900 At 31 Decamber 2022 90.900 Amorti$atron Charge for the year 7.S76 Al 310ecembeT 2022 7.575 N•t book vAIuo Al 31 Decemtw 2022 83.326 At 31 December202t Pago 42 e4 e¥ o ryJ o v) QV4 •4 •) • *• * &7 *4 o o o oj o THE ZIXILOGICAL SOCIEfY OF EAST ANGUA UMITED IA company limrtod ty guarnnte•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 16. Flxad asset Inv8stm&nts Inv•stments in $ubsldiary companles Company Cost or valuatlon At 1 January 2022 At 31 De¢ember 2022 Net book value Al 31 Deeamber 2022 Al 31 Dec8mber2021 16. Stocks Group 2022 GfDup 2021 Comp•ny 2022 Company 2021 Finished good5 and goods for resa 89.430 92,805 18,335 3,937 17. Debtorn Group 2022 Grt)up 2021 Company 2022 Company 2021 Due within one ￿ar Trade debtors Amounts owed by group undertakings Other debtors Prepayments and ao7ued inc￿9 14.870 22,939 3,133 425.243 151.983 67,50f 13,357 686,321 394,984 82,118 137,941 110.282 361,223 82,118 263.093 466,280 647.866 1. 17fj, 780 Page 47 THE ZOOLOGICAL SOCIETY OF EAST ANGUA L￿￿ED IA con¥Jany ty guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2022 18. Creditors: kn￿Unts falllng due wlthln one year Group 2022 Group 2021 Company 2022 Company 2021 Bank loans 239,S8S 266,512 252,442 81,778 51,447 493,610 229, 121 266.958 190.093 53,830 264,602 923.236 239,585 266,512 198,633 45A63 48,770 479A25 229, 127 266,958 173,805 37,643 261,531 886,389 Other loans Trade creditors Other tsxalion and sooal Security Other c[edit(￿S A￿r￿al5 and delerred incoma 1.38S,374 1.927,840 1,278,388 1,85&447 Group 2022 Gmup 2021 Company 2022 company 2021 Deferred income at 1 January 2022 Resources defefred durirvJ the year Amounts released from prevKJUS pei•Jds 400,16S 129,717 141)0,1651 411.377 289. 157 (300,369) 400,165 411,377 129,717 289, 157 1400,1651 (300,369J 129.717 4W,165 129.717 400, 165 Accruas and deferred inry)me indudes iJefeNed park entra￿ fees. The bank loan is Se￿￿1 by means of se¢Lwities that create a ftted and fb)ating charge over the assets of the ojmpany. Page 48 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA ¢ompany Ilmfted by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 19. Creditorn: Amounts falling due aft•r mor¢ than on• yoar Group 2022 Group 2021 Company 2022 Company 2021 Bank loans 705.051 1S2.T16 956.958 395.692 60,339 706.051 162.776 956,958 395,692 60,339 Other kjans A￿r￿al$ and deferred i￿)Me 8S7.827 1,412,989 857,827 1,412,989 Ir￿I￿Jed wthin the ab)ve are amounts falling due &s fo￿. Group 2022 Gmup 2021 Company 2022 Company 2021 Betw¢èn onè and two years Bank loans 239.586 152,T16 232,025 265,000 239.688 1S2,776 232.025 265,000 Olher loans Between two and five yea Bank loans 433,757 595,3C 730.fj92 433,757 595.300 130,692 Other loans Over fSv• years 88nk h)ans 31,708 129,633 31.708 129,633 The bank loan is payable over a 10 year p¢ri)d. c4JrnmerKaTrJ in 2017. Interesi charged at 2.55% over base rate. In May 2020 the Charty was also gTanled a Coronavirus BusirE53 Interwption Loan of £900,000. The loan is lor 6 years from first drawdown and carries irteresl of 1.49% above bank base ral•. Interest tharged in the first 12 months from 1$ paid by the govemmenL Other toans consist of the deferred cons*JeratK)n for the purchase of assets. The loan is payable ovgr equal installmerts over a 10 year pe￿d. ￿mMen￿n9 in 2014. Interest ts charged at 2.8°A over base ratè. Fina￿la1 instrumenls measured al amorliwl cx)st comprtse the defer￿ CA)nsIde￿tion for the purchase of assel5. The bank loan is secwgj by means of se￿rit￿5 th81 trea19 a fixed and floating charge over the assets of the company. Page 49 THE ZOOLOGICAL SOCIE￿ OF EAST ANGLIA LIMITED IA company limited by guarnrttso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 20. Statsmènt of funds Ststsm•nt offunds- currnnt year Balance al 1 January 2022 Balance at 31 In￿m0 Expondllurg Oècambgr 2022 Unrnstricted funds General Fund5 4.S23.121 7.299.039 17,708,266) 4.113.894 R•strict•d funds Other reStr￿ted fvnds Green Recovery chaI￿nge Futhl 11.21S 39.798 11.215 139,7981 S1,013 139,7981 11.215 Total of fiJnd8 4,S7{134 7.299,039 17,748,064> 4,125.109 Other reslricted funds indudes small amounts rwwj visrtors via cash don81ion boxes which 8re collected and distn"buted lo other animal oJnservat￿n tharIt￿S. The Green Recowry Chanenge Fund is a govemmenl fvnd developed by Defta in partnership with ils Arms-Length Bodies which. the Trustees of the National Hentage Mernorial Fund INHMFI administer on bèhalf of Dèfra. The Green Reojvery Challenge Fund is a key part of the Prime Mini51erf$ 10 Point Plan lo kick-start nalure recovèry and tackle dimate change. Banham Zoological Garden was awarded Grant of £95,300 to protect the endangered nabve whrte-clavrtd crayfish from extinction in August 2021. The native White-dawed crayfish (Austropotamobius pallipe51 is an endangered freshwater invertebiale that is declining throughout Europe. In Norfolk this spacies is drastical￿ declining and wtal measurès are needed to increase remaining popukitsons to prevent kxal exb"nctTron. The Zoological Society of East Anglia IZSEAI has buitt a Cra￿lsh halthery at 8anham Zoo, Norfolk. In partnership with Norfolk Rivers Trust. Banham Zoo re(%nty housed wkl caught. ￿Me4 female Crayfish (females carywng eggs) in order to rear the young until they are large enoLoh for re￿ase into selected ARK sites {safe refuge STtesl in rivers ￿roSS Norfolk. ZSEA is t*ing ath.sed and SUPKX)rted by Bristol Zoo Garoens who have estat4ished a SUCLessful crayfish halclw to support the Soulh Wesl crayfish popuLations. Page 50 THE zOOL0G￿AL SOCIETY OF EAST ANGUA UMITED IA ¢ompany Ilmited by guarnnts¢l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 DECEMBER 2022 20. Stslom•nt of fund$ l¢ontlnuodl Statsment of fvnds- prior year 8alance al 31 D8cember 2021 Balarte 8t l January 2021 Trnnsfa Unr¢stri¢t•d lund$ Gen8Tal Funds 2.651.303 7.251,314 (5,781,459J 401,963 4.523, 121 Restrlcted funds Other restricted funds Zoo Animal Fund Green Recovery Challenge Fund 17.215 287 (287) (926,823) (401,963) t 1,215 1.328.786 54,798 (15,CW) 39, 798 11.215 1.383,871 1942,110) (401,963) 51,013 Totsl of funds 2.fj62.518 8.635, 185 (fj.723,569J 4,574, 134 21. Anafysis of n•t ass•ts botw••n lunds Analysls of nèt auets between fund8- Gu￿#￿t Unrestrlctgd Rostrktod fvnd$ funds 2022 2022 Total fund$ 2022 Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year Creditors due in more than one y 4,452,970 83,325 1.820.800 (1.385,3741 (857,82n V62.970 83.325 1.832,015 11.385,3741 1857,8271 11.215 Totsl 4.113,894 11,215 4,12S,109 Page 51 THE ZOOLOGICAL SOCIETY OF EAST ANGUA UMJTED IA ¢omp•ny limit￿ by guar•nts•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2022 21. Anafysis of not assets b•b¥•on funts Icontlnuedl Anatysis of net assets bet￿n funds- prioryear UtKestricted lunds 2021 Restiicted funds 2021 Total funds 2021 Tangible fixed assèts Current 8ssets C￿d￿orS due within one c￿ditOrS dufj in more than one year 4,413,644 3,450,306 (1.927,840) fl,412,989J 4,413,644 3.507.319 (1,927.840) (1,412,989) 51,013 Total 4,523, 121 51,013 4.574, 134 21 Reconciliation of net mowment in funds to n•t ¢4sh flow from operating activit Group 2022 Gmup 2021 Net incomelexpenditure for the year las per Statement of Finanaal 1449.0251 7.917,616 Adju$tm•nts fttrr. Depre(yalion chaiges Amortisation charges Loss on the sale of fixe(l assets Decreasellincie8sel in stocks Decreasel[Incfeasel in debto Increaselldecrease) in c¥editors Interest paid 383.656 7.575 15.236 3.375 203.187 1612,8231 S6,804 282,937 11,346 (4, 174) (323,696) 487,676 41, 135 Net ¢a$h provided byllusod Inl oporntlng a¢tlvltles 1392,0151 2,406, 640 Page 52 THE ZOOLOGICAL SOCIEff OF EAST AMGLIA UMITED IA Company limited by gu•rtnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Anatysis of cash and cash equivalents Group 2022 Group 2021 Cash in hand 1A79.492 1942,234 Totsl ¢48h and eash equivalents 1.479.492 2,942,234 Analysis of changog in net d¢bt At31 D•e•mber 2022 January 2022 Cash flows Cash at bank and in hand Debt due vthin 1 year Debt due aftw 1 year 1942.234 11A62.742) 1.479,492 {496.0791 110,0181 1506,0971 11.352.650) 494,823 18S7.8271 1.093,505 {977.9371 115,568 2& Pension commltsnents Thè group operates a deftned ¢x)ntribution penshjn sc*eme. The assets of the 5d)eme are hekl separate from Ihose of the group in an independenfy administered fund. The pension cost charge represents ¢ontributh)ns payable by the group to the fund and amounted to £50.49912021 - £44,003) £12,37612021." £9,924) We￿ payable to the fund at the balance sheet dale and are induded in c¥edrtors. Page 53 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED (A ¢omp•ny limited by guarantee) NOTES TO THE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 31 DECEMBER 2022 28. Opgratbng leaso commilm•nts At 31 Decemi*r 2022 the Group 8nd the Company had commitments to make future minimum lease payThents under non-can(%lL7ble operaliThJ leases as fojbjws". Group 2022 Gmup Company Company 2021 2022 2021 Not l*er than 1 year Latgr than 1 ygar and not later than 5 years Latgr than 5 yaars 90.000 360.IJOO 7.650.IJOO 90.000 380.000 7.660.000 90,000 360,CQO 7,740,000 360,(￿0 7. 740.G 8.100.000 8. I90.t￿o 8.100.000 8, I90,1￿0 The fdkn¥ing lease payTnents have been re¢c¥Jnised as an expense in the Statement of financial acttvthes." Group 2022 Gmup 2021 Company 2022 Company 2021 Operating lease rentals 90,000 90,000 90,000 27. Rolatsd party transaetlons In the period. no gift aNJ was paid to the charity from ZSEA TrndiNJ ￿rnIted. a 100% owned subsidiary (2021. £20,945). 28. Taxation The Company is a regislered charty. As all its ifK))me and gains have been or will be applied for charitable purposes onty, no corporation tsx charge arises. As it is planngd for any laxable profit in the subsidiary company to be donated to the chanty wrthin nine months of the balance sheet date, no tax charge is exFected to arise aThJ th9rgfore these inc*Jde no proviwon for tax. Page 54 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA UMITED IA company Ilmitod by guarnntsel NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Principal sub¥idiarns The following were subs*Jiary undertaknngs of the Company. Names Subsidiary name Company regIStrat￿n number Basis of control Equtty shareholding % Tolal 8ssels as at 31 Decemter 2022 Tolal liabilthes as at 31 Dacember 2022 Total equity as al 31 Decernlw 2022 Tuinover for the year ended 31 De¢embar 2022 Expendrture for the year ended 31 December 2022 Ilossl for the year endeil 31 December 2022 ZSEA Trading Limited 08332152 Equity $h8reholding 100% £515,466 £1546,2711 £130.8051 £2,402.087 £12,432,893) £{30,81￿) Page 55