Reglstered number- 08250951 Charity number: 1150158 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Lirnited by Guarantee) CONTENTS Pag8 Reference and Admlnlstratlve Detalls of the Company, Its Trustees and Advlsers Chairrnan's Statemènl Truslees, Report Independent Auditor6. Report on the Financial Statements Consolidated Statement of Flnancial A¢tlvlties 25 Consolldatod 8alan¢• Shoot 26 Company Balance Sheet 27-28 Consolldat•d Stat•m•nt of Cash Flows 29 Noteg to th8 Financial Statément8 30-51 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND AOVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Tru$lee$ G F Smith, Chairman F E Barrelel E J Bouckl8y (appointed 13 June 20251 Dr K L Edmunds J J Gardiner Dr A Hassan P G Peal (resigned 3 January 20241 R J Penny12ppointed 21 June 20241 Company reglstered number 08250951 harity registsred number 1150158 Roglst•rod offlc• Zsea Zoo Hq The Zooloqical Society Of East Anqlia Kenningh811 Road Banham Norfolk NR16 2HE Chlef •xecutlYe offlcer lan Bartl811 Indop•nd•nt audltor8 BW Audll Ltd Chartered Accounlanls Berry & Warren 54 Thorpe Road Notwich NR11RY THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 The chairman Is pleased to present his Statement for this, our twelfth year of operation. 2024 saw economic challenges for the Zoological Society ol East Anglia IZSEAI which continued lo lesl our metllo. however perforrnan¢e hos outslripped initial projections for the year and progress against financial and operational plgns has been pleasing. Following a busin8ss and cost assessment with our external partners, an e18ment of restructuring was r4uired lo s&cur8 the charities. future and lo focus on business lundamentals, During 2024 successes include.. Th8 appointmgnl of a new CEO in January 2024 Operational reforms to drive 8fficiency and mitigate cost waste, budg81 reforecasting and reslrat8gizing our rnarketing were undertaken, resulting in a significant reduction in costs A continued evolution of our educational partnerships and closer lies with UEA and other institutions. Match funding support from Breckland Council - Rural England Prosperity Fund lo develop our w&bsile red8slgn. wayfinding and gduGalional signage Launch of the 'Togelher for Wlldllfe, fundraislng campaign The foundation of our strategy remains focused on agility, slringenl fiscal eonlrol. and a slauneh Commitment lo our core values. There has been strong progress made across our conservation, eclucation, and community objectives and we continue lo deliver upon the five objectives wilhin our 5y8ar plan.. Prgserving Wild Futures Engaging our Public Creating COnS8￿allOnists Sustaining our Environm8nl Sustaining our Futu Our modelling for the next 12-month p8riod is based on modest increa58 in income assumption5 aThY robust assessment of cost pressures and price increases, including managing payments with our bii8iness partners. A re81i81ir approach is being taken, expecting il will take 8 further two years lo fully recover the financial position, with capacity for continual review and corrective action. as required. This approach acknowlgdggs there may be further financial risks and uncertaintie5 to be rronilorgd and rnanaged during the coming y8ar that ralale lo the continuing economic pressures from global tensions, the 8conomic climate and rising costs. resulting in tha c05t-of-living crisis impacting visitor incomg., maintaining visitor numbgrs and thè impact of bad weather., the management of cash in a seasonal business and increased employer taxes. Flexibility has been built into the pricing model and cost base lo enable this lo be managed as required. A return to profit is anticipated in 2025 and the Charity has worked closely with ils lender lo secure flexible support during 202512056, to maintain liquidity during the winter low season. We have an overdraft of £500k secured lo March 2026, with support for this lo be extended until Septernber 2026 and 8greemenl on short lemi deferment of loan rep8ymenls, if ne9ded Our commilmenl lo our mission and the communilies we serve remain unwavering and we remain positive for the future. For 2025. our focus will be on consolidating sustainability lor the future, as we continue lo work through the impact of the cost of living crisis on our operational costs and driving visitor numbers. Our priorities will be emphasising value to our loyal members, improving the customer experience and operational efficiency. We are delighted lo have appointed two neiw Iruslees following a rigorous recruitment.. Mrs Rebecca Penny holds Chartered status frorn the London Institute of Banking and Finance. 3 furthei degree in Banking Practice and Manggement and qualifications Applied Corporate Banking and Certtfied Profèssional in Financial Advice to support developing and delivgring our financial objactives., Mr Edward Boukley. a qualified solicitor, specialising in competition and consumer regulation. is a Senior Associate at Birkelts, joined the Board in June 2025 to support our fundraising. educaiion and regulatory oty'eclives. THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) CHAIRMAM'S STATEMENT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 The charity is also 5UPPOrted by Dr Sharon Redrobe OBE Dzoomed, MRCVS,a5 strategic Zoological Director, a consultant who brings over 25 years as an internationally renowned senior zoo & conservation professional previously with Twycross Zoo. continues to act as a UK Government Zoo Inspector, an(J has significant experience liasing with international bodies and all levels of local, regional, and national Governm9nt. Wg are delight8d lo hav9 Sharon's 8xpertlSg balancing changg rnanagemenl, anirnal welfare. visitor experiencg. capital build programmes, conservation mission with financial viability and sustainability to support the charity with our Vision (or 2030. In condusion, while the ut)coming year poses challenges, our dedication to our vi&on, mission, and the communities we serve remains sleadfasl. The overarching aim is to harness the adversities of today lo lay the groundwork for a promising lomoffow. Ori b¥lièJlf ol ZSEA. l ¥xl¥rid iiiy gratiluQ¥ iu *)v¥ry Lull¥ayu¥. voluiil¥¥r, vl*•ilur. arid v4urklriy P¢irlii¥r lur Ili¥lr uiiw¥v¥rliiy suypurl. Together. we move lorward wth hope and d8terminakn.on presetving wild fulur8s, inv8sling in our peop18. working with our communilias, reimagining our Spa￿$, restoring our gardens, and vitally, Continuing lo protect endangered both native and international species from the risk of 8xtinction. G F Srnilh Chairrnan Dale.. THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together wrth the audited financial statements of the company for the year 1 January 2024 to 31 December 2024, The Annual Report serves the purposes of both a Trustees, report and a directors, report uThYer company law. The Trustges confirrn that the Annual Report and financial Statements of the charitable cornpany comply with the current 51alutory requirements, the requirements of the charitable company's governing document and the provisions of Ihe Statement of Recommended Practice ISORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effeolive 1 January 2019). Revlew of actlvltle8 Leadership Team The Leadership Team combine5 passion, expert15e, entrepreneurialism, specialist understanding of their area, and a shared vision that together we can preserve wild futures, During 2024, the tgam includgd our Hgad of Mi55ion. Director of Zoo Qpgr8lions, Sal95 and Marketing Director, H8ad ol Living Collections, HR Advisor, Finance Manager and Executive Assistant, led by the CEO. ZSEA ¢urrenlly utilises the skills and gxpertise of 8dvisory specialists to support the leadership team, where required, adding signifi¢anl value to creating the long term vision and our delivering upon our charitable objectives. These specialists are experienced outsiders who mentor, provide solutions and act as a sounding board across the wide rang8 of departments, sorne of whom have offered their services pro bono. Risk Management The Soci8ly's risk register is reviewed at the Quarterly Board Meetings or as high priority risks ernerge. The Board has conducted ils annual revlew of the major rlsks lo which the Society is exposed and assoclaled acllons, Fxocedures, and contingency Plans lo mlllgate those risks and is 88t15fied wllh the management of Ihose rlsks. ObJ•ctlv•s and actlvltlas . Polici98 and objeclivos In 2024, our principal aim ha5 been to return the Charity lo a secure financial fooling to enable the following operational aims, including.. Dèfining a strong m8mb8r prop¢￿Illon Growing our native specps conservation work within the East of England through collaborations Introducing further conservation research projects internally D&veloping our conservation education leaching programmes New corporate programmes covering suslainabilily, climate change and connections in nature for mindfulness Continuing our work within SEND departments In local schools through outreach programmes Continuing our support and work to promote mental hgalth and wellbging benefits in connectin9 to nature Developing new initiatives for our community lo ensure our spaces are acce55ible for all Maintaining and rgbuilding fi'nancial rgsarvss which are vital to support th8 charity through the uncertain economic dimalg Capex investment into continued maintenance of high standards of animal welfare and wherever possible the continuing implemenlalion of the ZSEA Conservation, Consetvalion Education and Community stralegies Driving visitor numbers through effective marketing strategies THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll Rebuilding and consolidating teams lo improve operational and cost efficiencies Market growth of membership and buildin9 community schemes through digital platforms In 2024 a considerable improvement in the financial results has b88n achi8ved through the application of careful cost managgm8nt and controlling cashflow during an uncertain economic climate, improving operational business processes 2nd efficiency and accessing funding opportunities. This has enabled delivery of the following key achievements.. Contlnulng to fvlfil, where possible, our mission objectives in Con5ervetion. Educallon and Communlty Scrutinising and reducing costs and then keeping costs under control Ensuring Ihè saféty of staff and visitors. whilst d&liv&ring a grgat visitor 8xperienca and a satisfying placa lo work Focusing on revenue generating activities Continuing to fulfil, where possible, our mission objectives D&velop management and18adership teams Developing marketing strategy and targeting visitor numbers Zoo Inspeclions- preparing for excellent evaluations 21 both Banham Zoo12025} and Africa Aive120261 Cons8rvation Initiatives.. conlinuallon of natlve species cons8rvalion projects Launched the Together lor Wlldlife fundralsing campalgn-a bold inlliative lo galvanlse public support for conservatlon and education 5 Year Han.. Continuatlon of the new plan focusing on five objeclves.. PreseNlng Wlld Futures, Engaging Public, Creating Conservaiionisls. Sustaining Environment, and Sustaining Future Board Evolution.. Welcomed a new Iruslee after a rigorous 2024 r8cruilm8nl process Conclusion: While eeonomic challenges persist, ZSEA remains committed lo ils vision and mission, emphasising community cngagomenl, consefyalion elforts, stsff investment. and safeguarding endangered species. In setting objectives and planning for aclivilies, thtt Trustees have given due consideration to general guidance published by the Charlly Commisslon relating to public beneflL Includlng the guidance 'Publi¢ benefll.. runnlng a charity IPB21'. 1.1 The charlty's objects (the Objects) are: 1.1 lal the advancement of education and zoology and related subjects by: inspiring, stimulating, encouraging, and sustaining interest and enthusiasm in Ihe public in zoology and the knowledgè and study of animals and olher wildlife by establishing and running one or more zoological gardens or similar scientific gxhibilion. promoting and carrying out scientific study and research into animals and olher wildlife and natural history and related scientific rields wher8 such study and research could help the conservation of species and habitats and the maintenance and restoration of natural habilals. inspiring and engaging with the public in mallers relating lo the living world and the environment and general environmental protection. 1.1{bl the advancem•nt of anlmal welfare by: promoting and carrying out scientific study and research into animals and olher wildlife and natural history and related scientific rields where such study and research could help the conseNalion of species and habitats and the rnainlenance and restoration of natural habits. THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll promoting and contributing lo and supporting Ihe cOnse￿ation of animals and wildlife and in particular threa1ened species lil. promoting and contributing lo and supporting conversaiion programmes both in situ and ex situ. inspiring and engaging interest of the public in animals and wildlife and in parbcular threatened species. promoting and contributing to the conservation of animals and other wildlile, biodiversity, and natur21 habitats in the UK and woddwide. vl. appropriate breeding andlor Naintaining of endangered animals, threaiened species and ott)er wildlife. Vli. 95tsblishing and running on9 or more zoological gardens. 1.1 (cl the advancement of environmental protection by.. promoting and contributing lo and supporting the conservation of anima15 and other wildlife and in particular threatened 5pecie5. inspiring and engaging interest of the public in conservation ol animals and other wildlife and in particular threatened species. iii. promollng and conlrlbudng to th8 conservatlon of anlmals and oth8r wlldlll8, blodiverslty. and natural habllals In Ihe UK and woddwide. IV. engaging with the public in mallers relating lo the living world. the environment and gen8ral environmental protection. promoting and contributing lo and supportino conservation proqrammes both in situ and ex situ. 1.1{dl th• advanc•m•nl of such oth•r ch8rltabl• obl•cts and purpos•9 as th• Trust••s may In th•lr 9010 dlscr•tlon d•t•rmln• from lime to time. b. Slrategle5 for achlevlng objectlves Our mission Is lo PreseNe Wlld Futures by protecting endangered specles, inspirlng, and engaglng wllh the lasclnallon ol nature, and to spark a lifelong inl8re5t in p80pl8 of all ages lo help us protect the rich diversity of our precious ivorld, for all our futures. Our zoological reserv8s are places where everyon8 can connect P8ac8fully with animals and enjoy native wildlife, flora. and fauna in our green open spaces, irnproving wellbeing. Our 5 year strategic plan sels out our dlreclion as we re emerge from the pandemSc, stronger and leaner. The Society wlll become 8 more eff8cllve conservation and education charity CDnlinuing our commitment lo conservation, education and communlly partnerships which benefit our world and those that live wrthin it. We are ambitious. We want lo be the differenc8 the wot1d needs. We want lo be the leading example of how lo educate people in nature and about nature. Conserv8tion educalion lies al the heart of everything we do, and we want lo actively encourage every visitor lo aclively considef how we can live, work, and learn in more sustainable w8ys lo prolect our planet every day. Over the S year plan, we will continue our airn to.. Save end8ngered species from extinction by playing a key role in conservation and measurably Improvlng biodiverslly, with a fo¢u¥ on nalive species Educate about nature, in nature and foster engagement with the natural world Empower people and local communities lo make positive changes by promoting the connection between nature and wellbeing Put SU5tainabilily al thg hgart of our long 18rm vision and wg have ambitious goals THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll We have sel ourselves five objectives to en8ble us lo deliver our charilable purpose: 1. Preserving Wild Futures Our aim is lo increase our consetvalion dependent animal species on sile to 80Q/o by 2026 and be a real force for conservation success. 2. Engaging our Public Engaging th8 public and our communiligs to have mèaningful gxp@riancgS to encouragè positive actions, urgèntly nè8d&d lo prasèrve wild lulures ancl sustain our environment arKI address the climate and ecological emergencies ot today, and so is al the heart ol our plan. 3. Creatlng Con$er¥atlonlsts Through impacfful. visual experiences and educational bul inspiring facilities we aim lo provide visitors the tools they need lo take that first slep on a conservation journey, to make a differen￿ for everyone's future as we continue our objective lo.. Educato ABOUT Natur• By providing a wide range of highquality educational opportunities that connect our communilies lo nature, wilh the airn of deepening public awaraness and knowled9a of biodivarsily and sustainability in a rglalable, inspiring, and engagin9 way, which allows emollonal Conne￿10nS to nature to be eAeated. Educate IN Nature Playing an active role in helping our guests and local communitl8S to connect wilh nature by sp8nding more time outdoors given the masslve quantifiable benefits for educallon and wellbeing. Educatlng FOR Natur• Encourage behaviour change for conservation by engaging and empowering our guests lo take action to live sustainably and protect nature, Connection lo nature has been proved to be positively related to conservation behaviour, so by Increasing our guèsts, nature conneclicfis, whilst empowering them to make sustainable choices. we ¢an make a positive contribution lo nalure conservation. 4. Sustain our Environmènt ZSEA is perfectly positioned lo deliver upon its mlssion to be the flagship for sustainable tourism by connecting peop￿ lo nature for conservation, deliver ils purpose in con5ervslion, education, and community and becorne display environmental leadership. We aim to become a responsibility superstar and ensure responsible business, responsible growth and conservation education is inlrinsic in everything ZSEA does. 5. Sustaln our Future We airn lo do tris by., Protecting our Finances Following the sèismic rhang8 ZSEA undertook because of the pandemie lo enable us to rebuild our financial reserves, fiscal control will remain the priority in decision making during our 5 year plan. THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll Investing in our Pèoplè By creating environmental champions who care for and sustain the environrnenl, we will increase employee engagement and satisfaction. Working with our Communities By working with our communities, we will Irnprove the health and wellbeing, desirability of our region and preserve wild futures. Rolmfiglnlng our Plac68 By reimagining our places, we will provide a more compelling visitor experience impacting our ability lo create meaninglul connections in nature lo empower our visitors and create the next generation of conservationists. Managing our Gardens With 8 focus on visiior 8XP8ri8nc8, accèss for 811, inclusivity. suslainabls pr8clic8s and r8sloring gard8ns in line wilh th8 loc81 environrnonl and 8P8C188. Main activities undertaken to furtherthe company's purpose8 for th? public benefit The Trustees comply with their duty to have due regard lo public benefit guidance published by the Charity Commission. In 2024. our visitor numbers declin8d slightly howgver, thg Society connocted in naluro 183,895 (2023.. 245,2381 visilDrs al 8anham Zoological Reserve and 145,761 12023.. 144,8811 visitors at Africa Alive Zoological Reserve. In selling the price structure lor our admlsslon fees we have due regard to concessSonary prices for chlldren, senlor citizens, and those wlth disabililles. ZSEA ConseNatlon cOnse￿allOn projects at ZSEA have developed at pace throughout 2024, demonstrating the benefits and impacts strong and effecllve partnerships provide for conservation work. All current operational ex-silu projects and those in discussion are all fun¢ed by external stakeholders. Native S ecies Pro ects 2024- Banham Zoo 'Claws for Conservation'_ saving the white clawed crayfish froffl gxtinction, This project continues with successful rearing and releasing of ha1chlings to support the wild population numbers of the UK's12rgesl freshwater invertebrale. We will continue to partner with the Norfolk Rivers Trust an(J the Norfolk Crayfish partnership, to deliver the Captive breeding element of this 'One P18n Approach, to u)nserv81ion. Th& Consen18tion team also assisted the Norfolk Rivers Tnjsl with field surveys for the white-clawed crayfish and the invasive signal crayfish. Hatchlings from 2024 will be ffleased into a new sile al Wild Ken Hill in 2025. Pool Frog Pods Prolècl This groundbreaking captive rear, b￿ed and release project continued in 2024 with thorough planning and building phases. 11 is a very ambitious project, catering for all life stages of the northern pool frog which is con&idered Critically Endangered in the UK. AII funding has been provided by Natural England and a wide array of amphibian experts from Amphibian and Reptile Conservation IARCI. ZSL and various other stakeholders have supported the Conservation team through each stage of the build. Intake ol spawn will be late Spring 2025 and thon siaged releases over the following months. A small numbgr of young frogs will be held back for Ihe breeding stage of this project. THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll Moonshiner Wormwood BeetlolField Wormwood Restoration Project The elusive, nocturnal Moonshiner Womiwood 8eelle is only found in a handful of siles in the UK, m8inly in the 8recks on the doorstep of Banham Zoo. This beellg is on the brink of exlinclion and fegds mainly on the also endangered Field Wormwood, a protected plant species. This collaboration with Natural England. Plantlife, Buglife and Kew Gardens continued in 2024 with the Conservation team propagating, growing on and collecting data on plants where the seeds were sourced from Ihe Millennium seed bank at Kew gardens. Many of these suwessfully cultivated plan15 will be planted out at 51tes across Breckland to monitor growth survival ratgs and gtart to ro-colonis8 this incr9dibly raro plant. We will th8n work on Pha89 11 of thg proj9Ct lo hop9fully bring in a number of Critically Endangered Moonshiner Wormwood Beeues from the wild to be able lo research this incredibly rare beetle and understand more of its ecology and breeding behaviour. Ultimately the outcome would be to breed these beetles succèssfully 8nd once habilal resloralion 8nd maintènance is undetvlay in the wild, release popul81ions of the beetle lo bolster numbers and savg this species from a very uncertain future. Burbot Relntroductlon Prolect This r9ally gxaling project is funded and in partnership with the Norfolk Riv9rs Trust with slak8hddgrs including ZSL vets and CEFAS. Burbol became extinct in the UK in the 1970's and through this partnership we will transport eggs from B8lgiurn and rear Ènd release them back into Ihe rivers of North Norfolk. This 18 a key8lone fish specie¥ and will help improve river biodiver81ty and ecology. Planning phase is underway, and the build will begin hopefully in the Autumn of 2024, Large Copper Butterfly This extinct in the UK butterfly is a priority species for Natural England, and we are going lo hold captive stock and breed and r8search lo better understand the lile¢y¢le. breeding and feedlng behaviour of Ihls very nlche species. Future work may involve habilal resloralion (they are a wetland loving species, so popu18tlons have declined as wetl8nds have declSnedl and possSble r8inlroduclion. Tansy Bèetle In partnership with Nalurgl England. Wildfowl and Wet18nds Trust and the Tansy Beetle Action Group, we will Conduct multipl research projects on the feeding preferences 8nd behaviour ol the beautiful bul rare Isnsy beetlg. We will compare 'clades' of thi5 beetle found only in Yor1( and two siles in Norfolk, with an aim lo inform habilal managemenl and population support in Ihe future. Natlve S ecles Pro ects 2024- Afrlca Allve Reserve Turtlo dov•s In collaboration with the RSPB and their 'Operation Turtle Oove, project, ZSEA has allocated a section of land at Africa Alive lo create suitable and enticing habilal for the turtle dove, a migrant visitor lo the UK, now one ol the fastest declining bird Species. 2024 saw Operation Turtle Dove continue lo donate seed feed lor the year and the Animal Keeping and Education teams are keeping a watchful eye and ear out for any signsl Biodiversity Action Planning We are continuing our plans for site management al AA as there are sizeable sections towards the rear of the park Ihal could be managed as a nature reserve, bul work does need to be done. This plan will be finalised in 2025 to improve the sile for native diid Pobbibly luok cil bviiie ex-¥ilu wiiseivciliuii wvik fur Ildliv¥ 6P&V1￿￿ è]¥ well. THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll BioBlitz Afn'ca Alive has a wide variety of biodiversity rich habilals and the annu818i081itz and other habilal SU￿ey5 throughout the year demonstrate the incredibly large number of native species living on site. This information informs c￿r Biodiversity Action Plan as above, which will in turn highlight areas ol the sile that require maintenance or restoration lo fully devek)p our native species diversity. Such areas for focus are Wader's Lake with its huge variety of dragonflies and damseltlies and the woodland areas on site. The surveys were run throughout 2024 and the major BioBlitz event held in July. Intèmational Con$8rvotion Pro rammgs Lemur Con$ervation Association {AEECLI The Lemur Con3erv8lion A8socialion IAEECLI is a zoo managed conseryalion organisalion based in Sahamalazalles Radama Nation81 Park in Madagascar, The main aims of the charity are based on the conseNation of the lemur species within the park. with specrfic focus on the critically endangered t)lue8yed bl8ck18mur IEul8mur fl8vifronsl. Their goals are lo research, protgct and restore the vital ecosystems these consetvalion dependent species inhabit, collaborating with local communities and authorities lo achleve a sustalnable and blodlverse habltat for the future. Banham Zoo and Afrlca Allve have been acllvely Involved wllhln thls charity for many ye8r5 8nd curr8ntly ZSEA'S Head of Conservation 5115 on the AEECL board as secretary, actively helping lo steer decision making and progress ivilhin the work plans in Madagascar. The charily is a mernbership organisalion and ZSEA has donated funds lo this important conservation work lo continue as full members. ZSEA'S Head of Conservation also developed, created and currently maintain5 the A&kLL web511e, è1150cial media end all membership communication5 Including annual and quartèdy r8POrting. International Vulture Programmg IIVPI Al 88nh8m Zoo we arè proud to support the Inlernalion81 Vultur8 Programme IIVP}, This is a mullipartner ini1181ive that focuses efforts on th8 research and conservation of vultures. The IVP is rn8d8 up of 8 series of projects in 50Uthern Afric8 and south Asia and most recently BAnham Zoo donated £2,073 to purchase satellite tracking equipment lor their work on Egyptian vulture monitoring 11 Is only through Important conservation collaborations such as Ihis that we can support and save these vital species globally. The Head of ConseNalion has been having meetings wllh the IVP to discuss posslble slakeholder engagement and where ZSEA could becom& part of a wlder remit. Wildcats Conservation Allian¢e Wildcats is a conservalion initiative cn a mission 15 to save wild tigBrs &nd Arnur18opards for future generations by raising 8W8ren8ss of their 5tstus and funding c8r8fully chosen conservation projects. ZSEA has partner8d with this org8nis8tion for many years and fundraised specifically for their Amur tiger conservation programme in 2024, donating £625 in lolal. Consorvallon Educatlon The Consetvalion Education Strategy focuses on three main areas.. Edu¢atlng ABOUT Nalure By providing a wide range of highquality educational opportunities that connect our communilies to nature, wilh the airn of deepening public awareness and knowledge of biodiversity and suslainabilily in a relatable, inspiring, and engaging way, which allows ernolional connections to ngtur9 to b9 cr9ated. Paoe 10 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll Educating IN Nature Playing an active role in helping our guests and lo(31 communities to connect with natur8 by spgnding more time outdoors given the massive quantifiable b8nefils for education and wellbeing. Educating FOR Nature Encourage behaviour change for conservation by engaging and empowering our guests lo lake action lo live sustainably and protect nature, Connection lo nature has been proveo lo be positively related lo conservation behaviour. so by increasing our guests, nature connecti(￿$, whilst 9mpowering Ihgm lo make sustainabl& choices. we can makg 3 positive contribution to nature conservation. The Educatlon Programme Our fomal Educallon Programme covers three dlffgrenl forms of learning - Onsite, wlth formal 18$s0ns and self-led trails. Onlin& and Outreach. our onsite sessions wer8 relaunched in 2024 with a variety ol new topics across both sites. Thes8 hands-on Discovery Sessions, led by our experienced educators, use inleraclive learning lo help inspire pupils lo discover mor8 about science and the natural world, and develop connectlons to nature lo Improve conservallon behavlours. In 2024 111 schools visited Africa Aive, with 1,503 studenls participating in hands on workshops and a further 3,702 taking part in self-led or trail led visits. 213 schools visited BZ in 2024, with 3,092 students participating in hands on workshops and a further 6,000 laking part in 5ell-led or trail led visits. Number3 laughl in I￿se sessions increased by 21°/v12023-20241. Inforrnal Education Educallon in Ihe zoo is not just res8rv8d for schools and vislllng groups our dally programmes of talks and aclivllles ensLJre all our guests have the opportunity lo discover amazing facts about our animals and connect with nature. Interpretive signage, children's trails, hands on workshops as well as interactive activities such ag 'Toby Investigates.. all provide excellenl opportunities lor engaging a variety of audiences with the animals in our care and how we can help prolecl the world around us, New activiti8s for 2024 included Carnivore Safarl at Africa Alive an interactive guided lour of th8 camivores of thé park, 'ZOO-Dunnit?' activity at Banharn Zoo 8 cluedo style event focussing on whole stole th8 bird's enrichment and Autism Aw8r8n8SS W@&k - with n8w Inclusiv8 $1gnag8 going up 81 both AA I BZ f8aluring Mak8lon Comtnunicalion Sysl8m and Toby Tig8r l Reggiè Lion. We also produced a new Makaton Fr￿ndlY trail Guide for both siles which can be downloaded from the websites. Partnershlps The Eéucalion Depl continues to foster partnerships with a number of local organisalions l Institut￿nS including.. East Coast Collo90 l University of Suffolk Since 2019 we have been a key part of Ihe delivery of the University of Suffolk (Easl Coast College Campu51 Fdsc Conservation Science & Animal Management prosramme and also the Bsc Sustainable Futures Degrees, with students taking part in lectures in the zoo on topics such as Zoo Nulrilion, Animal Health Slralegie5 and Conservation Education. The programme also involves hands on work experience and master classes wilh the keepers and educators, as well as re&e2rch projecls and classroom-based assessments. Paoe11 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll Wensum Trust Our Zoo School Pathership, launched in In 2021 between ZSEA and The Wensum Trust has gone from strenglh to strenglh, supporting and developing scienlific learning and conservation education across the curriculum. The 'ZOO SCHOOL, curriculum al Kins818 Junior School in Norwich. allDWS Key stage 2 students lo experience hands on educ81ion in a number of subjects throughout the year, with conservation themes embedded into each lesson. This also allows ZSEA lo evaluate the effectiveness of conservation education in zoos as part of a long-term study. In 2024 ev8ry pupil at Kinsale was ablg lo visit Banham Zoo or Africa Alive as part of a school trip. lake part in èducation sessions run by ZSEA al Kinsale school as well as online lessons with the ZSEA educatlDn team. In Sept 2024 staff from Kinsgle Junior5 joined u5 at Banh8m Zoo for a team building and volunt8gring day, helping us completg grounds work around Ihe zoo. Plans for 2025 are to create a fomial ZOOSCHOOL accredilalion scheme in partnership with the Wensum Trust and BIAZA Norfolk County Council l East Suffolk Council Since 2022, ZSEA has providad Holiday Activitl8s and FoDd IHAFI Provision at Africa Aliv8 wl(h funding support from East Suffolk Council. Banham Zoo also began offering HAF provision in 2023 and was voted Best New Provision by Norfolk County Council. The Holiday Activities and food programme is a government funded initiative allowing children from disadvantaged backgrounds access 10 high quality activities during holiday pgriods. Our Zoo Invgsligalors Clubs promot8 hgallhy living, wg11-bging and consgrvalion valugs as well 89 being IDIS of funl Over 470 children h8ve so far benefited from this provision 81 Africa Alive, and a further 220 in Banh8m Zoo, with excellent feedback from the children and their parents I carers, Banham Zoo won an award for the Best Sustainable Provision from Norfolk County Council for 2024. Projects 2024 Sizewell Crealive.. As part of a Sizewell Creative funded project. ZSEA joined a number of local organisaiions such as Pro Corda. Jubilee Op8ra, and Suffolk New Co118ge, lo help slag8 a production of Benjamin Bri118n's opera 'Noy8's Fludd,. This farnous story focuses on a CDlleclive response to a climate emergency- a very relevant message al present and the aim of the production was to be as sustainable 89 possible. ZSEA provided 8du¢8tion for participating schools as w911 as 888lSting with animal th8med choreography for Noah's 'animal' friendsl Upcomlng Projects for 2025 Home Educatlon March 2025 will see the launch of our new home education project, aimed al widenlng our audience for formal educalion by COnne￿Ing up 10 5,000 home educated children with nature through our brand new sessions, resources and online programme. Amphibian & Rèptilo Conservation Trust- Hop Spots We have rcccntly partnered with ARC lo holp deliver a new 3-year education project for native amphibian and reptile conservation across East Anglia. This lottery funded project will enter ils developmenl phase in 2025, due to launch midlend 012026. Communlty Strategy Developments Inclusivity and Accessibility 2024 saw meaningful Steps toward making our zoos more welcoming and equitable.. Zoos for All - A fully equipped Changing Place5 facility was installed and opened at Africa Alive in March, match funded by East Suffolk Council. Paoe 12 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll Breckland Council - Rural England Prosperity Fund Phase 1 Match funding iowarils a £100,000 project supporting website redeslgn, wayflndlng, educaiional slgnage, and Ihe Installaiion of a stretch tent ￿ Banham Zoo's evenls field. These elements were 8clively undenN8y in 2Q24. with completion targeted for 88dy 2025. Phase 2 - Lift Replacemenl.. Additional match fundir¥J was approved for the repla￿ment of the disabled access lift in the Banham Zoo giraffe house, with installation scheduled for early 2025. Marketing Collaboration. Accessibility and inclusivity were embedded into the new website and signage design through close collaboration beiween operational and ereative teams. Wellb•lng & Wlldll Anlmal welfare and staff wellbeing remained central lo our rnlssion,. Sp8ci85 Planning and W8lf8re R8V18ws= Inl8rn81 r8Vl8ws aligned animal eoll8clions wilh ylrat8gic priori118s, locusSng on wèlfare-led decisions and operational capacity C'reduce lo grow'l. Staff Development.. Cross-training 8nd professional development ini1181ives supported team resilience and operation81 flexibility. Habitat Enhancements.. A new climbing platform for ligers al 8anham Zoo was successlully delivered, fully funded and conslrucl8d by MKM Building Suppli85. Conservation Partnerships.. Construction began on the native species pool frog project in collaboration with Natural England, reinforcing ZSEA'S commilment lo UK biodiversity. Suslalnablllty and Energy ZSEA'S sust8inability agenda gained Ir8Ction through practical improvements 8nd strategic planning,. Energy Efficiency Gains.. Consumption al Banham Zoo tracked slightly under expected usage. while Africa Alive saw a year-on-year reduction from S8plember to November. D8carbonisalion PlannI￿J.. Opergy Group's decart)onisation report for Banham Zoo was commissioned with Breckland Councll's support, with delivery expected mid-December. Zellar Platform Access.. ZSEA gained a one-year subscription to Zellar, an online sustainability coaching and carbon tracking tool. EV Charging Exploration.. Discussions with RAW Charging and Goymour Properties continued regarding electric vehicle charging points al both zoos and Applewood car park. Healing Systems Review.. Initiated lo identify safe, efficaent 501ution5 for habitats and commercial spaces. Borehole System Reinslalemenl.. Preparatory work began to reinstate the borehole water system expected to be up and running eady 2025. Paoe 13 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll Together for Wlldllf6- Fundralslng Campalgn In 2024 ZSEA launched Ihe Together for Wildlife fundraising campaign, a bold initiative lo galvanise public support for conservalion and education. The campaign attracted new Interest from donors and partn&rs, including= £10.000 grant from ihe Aan Boswell Foundalion loward the Penguin Project £10.000 legacy donation from a 5UPPOrter's eslale Engagement with a local construction company, offenng support and a polenlial financial conlribulion toward the development of a Conservation Education Centre We are hugely grateful for th8 significant support we receiv8 from local businesses towards the upk88p and development of our parks and particularly the enrichment of our animal lives. During 2024 the value of these donated goods and services exceeded £70.000 and included a liger plallorm, improvements to housing for red river Hogs, snow leopards as well as bedding, food treats elc. The campaign reinforced our message,, wildlrfe conservation is a shared responsibility, and together, we can make a lasting dlfference. Voluntsers Currently we hav9 175 actlV8 volunteers which is a 15% growth from last year, wilh 18 new applicants al the application stage and 19 wailing lo b8 inductad. Our volunteer offering has expanded wllh volunteers now able lo get involved wlh rna1ntenan￿ tasks, drlving the trains and visitor engag8m8nt as well as th8 normal volunteer activities of manning walklhroughs, diet prep. cleaning & ganerally assisting Keepers. Ouring 2024, volunteers gave a total of 11,056.83 volunteering hours which translated into a value in excess of £135,000. Ralslng lundg MaSnlaining two P8rks to the constenlly improvlng standards we sel means that most 8dmisslon Incorne 1$ sp8nt on the day lo day animal care and welf8re cost. This rneans that funding lo support our conservation work both al Banham Zoo and Africa Alive musl come from other sources and in 2025, our objective is lo increase legacy and further fundraising inilialives lo support our work. We are investing in our fundraising capability and will be working with Creativity Unbound and Felton Fundraising during 2025, to develop our team and approach. ZSEA does not employ professional lelephi)ne or slreel fundiaiseis or commercial participalors lo carry out our fundraising activities. ZSEA complies with all relevant slalulory regulallons including the Charities Act 2011, The Oala Prolecllon Act 2018 and the Privacy and Elaclronic Communications Regulations 2003. ZSEA always seeks lo act in ways that are legal. op8n. hon8St. and resp8ctful striving for best practice, including being registered with the Fundraising Regulator, and adhering to ils Code of Fundraising Practice and Fundraising Prornise. ZSEA is careful lo monitor all fundraising activities and provide supports with help and information vi8 our websites, by email, phone, or post. ZSEA will respond to all complaints and received no complaints in relation to our fund raising acti¥ities in 2024. Paoe 14 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Objèctivès and activitiés Icontinuètll d. Futuro devèlopmènts Trusle9s are mindful of the on-going political and economic uncertainties. Visitors are becoming morg cautious, expgcling greater value for money al visitor allraclions as they respond lo the harder economic climale. The Charity has responded, offering pre-booking discounls, seasonal opening and events planning to attracl1he widest range of visitors. The key aims for the next 12 months will be lo o)ntinue the 3 year Journey back to a secur8 financial footing. A considerable improvement in the financial results for 2025 is being achieved through the application of flexible lickel pricing, careful cost managèment and conlrolling, improving operational business processes and efficiency and accessing funding opportunities. This will enable the following operational aims, which include.. Driving visitor numbers through effective maTkeling strategies. Market growth of memt)ership and building community sch8m8S through digital platforms Defining a strong member proposition Maintaining and rebLJilding financial reserves which are vital to support the charity through the uncertain economic dimale Capex investment into continued rnaintenan¢8 of high standard5 of anirn81 welfare 8nd wher8ver possiblg Ihe conlSnuing Implemenlallon of the ZSEA Conservation, Conservallon Education and Community strat8gSes. R8building and consolidating teams lo improv8 operational and c05t 8ffici8nci85. Growing our native SpeC￿S conseNallon work wilhln the East ol England through collaborallons. Inlroducing further conservation rasearch projects internally. Developing our conseN81ion education leaching programmes Continuing our work within SEND departments In local schools through outreach programmes. ContinuSng our support and work lo promote mental health and wellbeing benefits Sn connecting lo nature. Developlng new Inltlatlves for our communlly 10 ensure our spa￿5 are accesslble for all. Achievements and performance Financial rovigw Flnanclal pgrformance The Charity has faced a number of challenges since 2023 and is working towards a period of finaneial recovery which is expected to lake 3 years to fully achieve. Significant progress has been made during 2024 to change the culture and approach lo business. The cost base for the Charity has been reduced and an efficient winter operating model introduced, supported by coordinated staffing and cross-ijeparlment flexibility. Staffing costs are monitored daily lo match resources to visitor demand. We continue lo invesligale opportunities to enhance the long-term sustainabilily of the Charity, including new areas of business and identifying where financial performance Can be improved. We have been 8UPPOrted in this approach by our lenders, local aulhorilies, bu8ine88 partners and donors, who remain keen and active in support of the Charity. Trus168s ar8 Optimist￿ that linancial perfortnanc8 will conlinu8 to improve and a return to profil is anlicipat8d in 2025. d&spi18 th& challenging economic background. The Charity has a short-lerm financing requirement over the winter months. which is supported by an on-going overdraft lacility of £500,OOD and short lerm deferment of loan repayments. It is planned lo return lo a positive operating result and cash position by 2026 as performance improves and long term loans cease during 2025 and 2026. Paoe 15 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Financial rÈvièw Icontinuèdl Income for 2024 of £6,191,511 12023.. £7,209.2371 is 149/. lower than the previous year and reflects 15Uh lower visilor numbers al 329,656 {2023'. 390,119), the economic conditions having impacted on local tourism and repeal visits to the zoos. Expenditure levels were proactively managed throughout the year, cognisant of the anticipated lower income receipts. impacl of price increases and high costs across animal feed, veterinary, maintenance and National Living wage increases which had lo be absorbed. Total expenditure was £6,694,14012023'. £8,408,454) a reduction of 200/0 on the previ)us ye8r, 88 2 consequence. Net 8xp8ndilur8 for the year was a loss of £502.629, a considgrable improvement on the prior y8ar loss of £1,199,217 and represenlalive of the planned improvernenl in perfom)ance in line with the Chariiy s 3 year recovery plan. The group's nel assets are £2.280,76312023'. £2,783,392>, the deuea8e rellecting the year'g defi¢il. The key finanoal performanog indi¢8lors are the weekly number of visitors and their spend per head. The consolidated balance sheet of the group on 31 December 2024 is shown on page 26, wilh the consolidated income and expenditure account on page 25 and the consolidated slalement of cash flows on page 29. b. Going concern As parl of the Trustees, consid8ration of the appropriateness of adopting the goin9 conc8m basis in preparin9 fi'nancial statements. the Irusle95 have no19d that the Managem8nl Team prepare an annual budg8t in conjunction with all parts of the busin9ss which is Ih9n signed off by Ihe trustees. Then on a monthly basis, detailed management accounts are prepared and the performance reviewed compared lo budget and prior year to ensure that the Charity is perfom)ing Dplimally. In addition, a rolling 12 month forecast profil and loss account, balance sheet and cashflow is prepared on a monthly basis to ensure that the Charity has funds to invest and remains within its avai18ble cash and reserve largels. The modelling considers the macro and micro-econornic factors, which include changes in Naliollal Living Wage, changes in taxes, inflation, interest rale changès, the cosl-of-living crisis and rising prices, particularly enargy. The management team work closely with ils lenders to secure sufficient working capital to maintain liquidity across th8 winter operating period, du8 lo th8 58880nal nature of the business. Al the same time, the Management Team continue to look for opportunities to increase visitor numbers. yields and reduce costs through efficiencies and renegotiations. Based on these reviews, the Trustees have a reasonable expectation that the Company ha5 adequate resource5 to continue in operational existenc8 for th8 for8S8eabl8 futur8. For this reason. th8y conlinLl8 lo adopt th8 going conc8rn basis in pr8paring th8 financial slatemenls. Further delails regarding the adoption of going concern basis can be found in the Accounting Policies. The principal source of funding continu8s lo b8 frorn the generation of surpluses from th8 zoo parks and r61aled trading activities. This is supplemented by donations from visitors, corporate bodies, and a range of fundraising initiatives. Paoe 16 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Financial rÈvièw Icontinuèdl ¢. RèsèNes policy The Trust8e5 have reviewed the level of reserve5 r&quired by the Company and Group lo ensure they have the funds lo continue to deliver the charily's objectives through fluclualions in income and costs. The review was informed by experience gained during the Covid 19 pandemic, as well as the wider business experience of boih the Trustees and the Management Team. The Trustees prime focus is cash reserves in order lo ensure th81 the Charity maintains 8 financial cushion in case of disruption to operations through extraordinary circumstances. This approach has been successful during a very tUrbu￿nt few years since 2020 and enabled Ihe charity lo successfully navigate the cost of liviNJ crisis, the energy crisis and served to ensure the Charity can continue lo repay borrowing, including the CBILS Loan, Ivhich were required lo maintain financial slabilily during the Covid pandernic. Target cash reserves are currently set to cover a three month period with an average available cash balanc8 of £0.5m, including overdraft facilities. Al the year end, there were total unrestricted funds of £2.0rn. wilh a further £22k in restricted funds. After excluding reglricled funds and tangible fixed assets. free reserves in the charily amounted lo a deficit of £1,638k. Cash reserwes are £20k (excluding the overdraft facility) which is below of the agreed ¢8sh reserve policy. however these fluduate during the year due lo the seasonal nature of the business. The Trustees and Management will continually monitor cash reserve levels closely, particularly given the ongoing economic uncertainly and r8quir8m8nl for a bank ovèrdraft lacility. d. Inveslment pollcy and performan¢e The charity holds fluctuating cash reseNes due lo the seasonal nalure of Ihe business. The charity aims lo hold between 24 months Cash reserves during Ihe year, with surpluses placed on bank deposit with a 32 day account, and Current inleresl rates promde 4Vo relum. e. Rlsk mana9ement The Trustees have assessed the major risks lo which th8 Company and the Group is exposed, those related lo the op8rations and finances of the Company and the GrDUP and are satisfied those systems and procedures are in place to mitigate our exposure to the ajor risks. Th8S8 Sy51gm5 and proc8dures are subjgct lo r@gu18r revi8w. The risk register Is rewewed quarterly at the Trustees, meeting and is updaled by Managemenl on an ongoing basis, The key risks identified and managed by the Trustee6 during the year were. Financial- The rising and uncertain costs of energy and utilities and managing cash balances to meet financial cornmitments Operational - The impact of notifiable disease outbreaks e.g. Avian flu and potential closure of a zoo Cornpli8nce risks- maintaining Ihe zoo slruclure adgquately to meet I￿nsing requirements Paoe 17 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Stru¢tur•. g¢v•rnan¢• and managom•nt Constltutlcn The Zoological Society of East Anglia Limited is registered as a chari12ble company limited by guarantee, incorporated in 2013. The goveming instrument is the Memorandum and Articles of Association. The Society is registered as a charity in England and Wales, registration number 1150158. The Zoological Society of East Anglia Limiled operates Banham Zoo and Africa Alivel including the upkeep and welfar8 of the animals io of the share capital of ZSEA and all visitor services. conservation expendilure and 8xpenditurg on education. The company owns 100- Trading Limited which covers the trading activities. b. Methods of appointment or election of Trustees The management of the company and the group is the responsibilily of the Trustees who are elected and co- opted under the lemis of Ihe Articles of Association. New Trustees ar? elected following a recruitmenl process which includes inleNiews by the Chairman and Chief Executiv8. Trusl88s r8lif8 on a Ihree-year rolalional basis and may be re-elecl8d il they put Ih8msefves fonvard. In line with 9ood governance the Board seeks to maintain a balanced mix of knowledge, Skills, and expertise lo manag8 th8 assets of the Society 8ffeclively. During the next few years, ZSEA will be actively recruiting fvrther trustees with a diversity of skills to support their charitable objectives, as il Is noted that the Trustee rolalion is upon us, and we are therefore lookino to recruit to replace. c. Pollcl•s adopt•d for tho Inductlon and Iralnlng of Trust••s Training of Trustees is reviewed against individual training needs and a full iniroduction and induction lo the organisalion is given to new Trustees upon appointment. d. R@mun&ratlon policy The Irusl8es con8ider8d th8 8oard of Trust89s, Chief Ex8CUtIV8 and ZLT Leadership Team lo be Ihe key management P8r8onnel of th8 charity. All members of ihe Board of Trustees give Ihelr lime voluntarily and recebve no flnancial benefits from Ihe charlty. Management remuneration is reviewed annually by reference to p8rfonT)ance and several industry refer8nces sources. The Board of Truste88 agree Paoe 18 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Structurè. govornantè and managèmènt leontinuédl è. Organisational structur8 and de¢ision.making policies Members of the Society's governing Board are Trustees of the Society. The Board's role 15 to oversee th9 propgr management and development of the Sc)ciety according to its aims and objectives, lo ensure that the Society complies with prevailing legislation and regulations, and to make decisions on the key matters facing the Society. The Board met formally eight limes dunng the year. The full Board normally meets four times a year lo revSew strategy and performance. Informal meetings were held in the year where Trustees hold a particular area of expertise to supporl members of ihe Leadership Team. The rernit included, bul was not limited lo.. reviewing the financial slalements and recommending them lo the Board for approval., monitoring implementation of recommendalions in audit reports: risk management. audit, and investment policy; manag9mgnt of gov8rnance and Health and Safely.. and animal welfarg. All day-lo-day man8gem8nt was delegat8d lo the CEO wllh the support of th8 Leadership 188m. Furthei lo the requirements laid down by the Charity Commission regarding the reporting and understanding of the public benefit, the charity's strategies and activities are tested against the overall objectives of the organisalion 10 581isfy Trustees that our work is rglavanl and Sooords ivith our ovgrall ch4rily 9ndoavour. Slatement ol Trustees, responslbllltles The Trustees (who are also the dlreclors ol the company for the purposes of company lawl are ￿spOnSible for preparing the Trustees, Report and the financial statements in acMrdance with appllcable law and Unlled Kingdom Accountin9 Standards Iunlled Kingdom Gen8rally Accepted Accounting Pr8cli¢el. Company law rgquiros the Trustees tD prepare financial sl81gmenls for each financial ygar. Under company law, the Trustees rnUs1 not approve Ihe linancial slalemenls unless they are salisfied Ihal they give a true and fair view of the slate of affairs of the group and the company and ol their incoming resources and application of resources, including Iheir income and expenditure. for Ihal period. In preparing thes8 financial statements, the Trustees are required lo= select suitable accounllng policies and then apply th8m conslstenlly,, observe the methods and principles of the Charities SORP IFRS 1021.. make judgments and accountsng eslimales that are reasoneble 8nd prudent., state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial slalements., prepare the financial slalemenls on the going concern basis unless il is inappropriate to presume that the group will continue in business. The Trustees are responsible for keeping édequale accounting records that are sufficient lo show and explain the group and the onipanys transaclioiis and disclose willi reasonable accuracy at aiiy lime ihe fiiiancial posilioii of Ilie group and the compai?y and enable them to ensure that the financial slalemenls comply with the Companies Act 2DO6. They are also responsible for safequarding the assets of the group and the company and hence for taking reasonable steps for the preveniion and detection of fraud and other irregularities. Paoe 19 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) Disclosurè of information to auditorg Each of the persons who ar8 Twstees at the time when this Trustees, Report is approved has confirmed that= so far as that Trustee is awar8, ther8 is no relevant audit infDrmation of wh￿h th8 charitable group's auditors are unawar8. and that Trustee has taken all the steps thal ought lo have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information. Approved by (Kder of the mernbers of the board of Trustees and signed on their behalf by.. G F Smith Chainman DaLe." 26 Sepleniber 2D25 Paoe 20 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED Oplnlon We have audiied the financial statements of The Zoological Society of Easl Anglia Limited (the 'parenl charitable company'l and its subsidiaries Ilhe 'group'l for the year ended 31 December 2024 which comprise the Consolidaled Statement of Financial Aclivilies, the Consolidated Balance Sheet. the Company Balance Sheet, the Consolidated Statement of C3sh Flows and the relatgd note5, including a summary of significant accounting polici&s. Th8 financial rèporting framework that has b8an applièd in their prgparalion is applicablg law and United Kingdom Accounting Standards, includirvJ Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, lijnited Kingdom Generally Accepted Accounting Practice). In our opinion Ihe financlal $18lements'. give a truè and fair viow ol thè slatè ol the group's and of the parent charitsbla Company's affairs a8 al 31 D6camb6r 2024 and of the group's incomlng resources and applI￿110n of resources, including ils income and expenditure lor the year then ended; have been pr￿erlY prepared in accordance with United Kingdom Generally Accepted Accounting Praclic8', and have b8en prepared in accordance with the requirements ol the Companies Act 2006. Basis for opinion We conductèd our gudil in accordanc& with Ir)l#rnational Standards on Auditing IUKI IISAS IUKII and applicabl8 law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial slalemenls section of our report. We are independent of the group in accordance with the ethical requirements that are relevant lo our audit of Ihe fi'nanci81 slalemenl$ in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we heve fulfilled our other ethical responsibili118s in accordance with these requirements. We believe that th8 audit evidenc8 we hav8 obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions rèlating to going concern In auditing the financial slat9menls, w8 have concluded that th8 Trusl8es' use of th8 going concein basis of accounting in the preparation of Ihe financial statements is appropriate. Bas8d on the work we have p8rform8d, we have not idenlifi&d any malarial unc8rtainli88 relating lo ev8nls or conditions that, individually or collectively, may cast significant doubl on the group's or the parent charitable company's ability lo continue as a going concern for a period of at least Iwglve months from when the financial slatgm8n15 arg 8UthDri5ed for issue. Our responsibilities 8nd the responsibilities of the Trustees with respect to going concem are described in the relev8nl sections of this report. Paoe 21 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED ICONTINUEDI Olhèr information The other information comprises the informalion included in the knnual Roport other than the financial 51alern8nls and our Auditors, Reyorl Iliereori. Tlie Trublees are rebporisible lor ilie tsllier irilorimabon c(Jniaiiied williiii tli& Anriual Repoil. Our Dplllioli ori tlie firiaricial slalements does not cover the other information and, except to the extent othewse explicitly slated in our report, we do not express any fo(m of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsist8nl with th& financial slalements or our knoWI￿￿g8 oblain8d in the course of the aLJdit. or olhetwise appears to be malerlally mlsslaied. If we Identlfy such rnalerlal inconslslencles or appareni malerbal mlsstalements, we are required to determine whether this gives rise lo a material misslalemenl in Ihe financial slalemenls themselves. If, based on the wo we have perfonmad, we conclude that there is a material misstatement of this other information, we are required to reporf that fact. Wa have nothing lo report in this reg8rd. Oplnlon on other matters pres¢rlbed by ihe Companles Act 2006 In our opinlon, based on the work undertaken In the Course of the audll.. the inlomialion given in the Truslees, Reporf for the financial year lor which the financial slalemenls are prepared is consistenl with the financial slalements. the Truslges. Report has been prepared in accordance with applicable lègal requirèments. Matters on whlch wo aro requlrod lo report by exceptlon In the light of our knowledge and un¢erslanding of the charitsble company and its environment obtained in the course of the audil, we have not idenlified malerial rnisstatements in the Trustees, Report. We liave iiotlilng lo report Iii respect ol tlie following n)all8rs in relallon lo whlGlI Con)pani8s Acl 2006 requlres us lo report lo you if, Sn our opinion.. the parent charitable company has not k8Pt adequate and 3ufficienl accounting records, or r8turns adequate for our audit have not been received from branches not visited by us,, Or the parent charitable company financial slalements are not in agreement with the accounting records and returns,. or certain disclosures of Truslccs, remuneration specIf￿d by law are not made., or we have not received all the infomialion and explanations we require foi our audit. Responsibilities of trusteos As explained morg fully in th9 Trusl99s' R9sponsibi1it199 Stslgm9nt. tha Trnjslees (who are also Ihg dirgctors of the charitab19 company for the purposes of company lawl are responsible the preparation of the linan¢kal statements end for being salislied that they give a Irue and fair view, and for such internal control as the Trustees determine is necessary lo enable the preparation of financial s181emenls that are free from materi81 misslatemenl. whether due to fraud or error. In preparing th8 financial slatem9nts. thg Trustees are responsible for assessiry the group's and the parent charitable company's abiltty to continue as a going concern. disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic aliernalive bul lo do so. Paoe 22 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED ICONTINUEDI Auditors. re$pon$ibililig$ for tha #udit of thè financial $tatemenl$ Our objectives are to obtain reasonable a55LJrance about whether the financial statements as a whole are free from material Illlbblaleiiieiil, wl)ellier due lo Iraud Dr error, arid lo issue ali Audilors, Reporl 11)dl includes our opinion Reasc)nable assurariLe is a high level of assurance, bul Is not a guarantee that an audit conducted in accordance with ISAS {UK) will always delecl a material missla1ement when it exisls. Misstalemenls can arise from fraud or error and are oonsidered material if. individually or in the aggregale, they could reasonably be expected to influ8nc8 the economic deCIs￿rnS ol users lak8n on th8 basis of these financial slaiemenls. I￿gUlaritieS, including fraud, are instance5 of non-compliance with lawy and regul8lion5. We design procedureg in lin8 with our responsibilities, outlined above, lo detect material misslalemenls in respect of irregularities, including fraud. The ohj8Ctives of our audit in respect of fraud ar8., to identify and ass8ss the risks of material misstatement of the finan¢.ial slalemenls due lo Iraud,. lo obtain sufficient appropriate audit evidence regarding the assessed risks Dr mater￿1 misslatemenl due to fraud, Ihrough designing and implernenling appropriate responses lo those assessed ri5ks.' and lo respond appropriately to instances of fraud or suspected fraud idenlili8d during the audit. How8ver. th8 primary re5ponsibilily for the prevention and d818Ction of fraud rests with both the management and thos8 charged with governancg of the group. Due to the field in which the group operates, we identified the areas mosl likely lo have a dire￿ material impact on the financial slalemanls as compliance with zoo regulations. UK 8ccounling standards. the Compani8s Act 2006. and the Charities Act 2011. In addition. we considered the provisions of olher laws and regulations which, whilsl nol having a direct impacl on the financial slalemenls, are fundamental 10 the charitable company's ability lo operate includir@ health and safely, employment law, environmental regulations and compliance wth various other regulations relevant to the operation of the group. Our approach lo Identlfying and assessing the risk of material misstatement in respect of Srregularilles Including fraud and non-complian￿ with laws and regulations, included the following.. Enquiry with management about any actual or potential litigations and claims against th8 group., Enquiry with management about any known or suspected instances of non-complianc8 with laws and regulations and fraud., Reviewing legal and professional fees for indicators of undisclosed legal proceedings.. Reviewing the charity's ongoing license lo operate and reviewing findings of any regulatory inspections taking place during the year or after., Reviewing Board meeting minutes., Reviewing financial slalement disclosures and testing io supporting documentation to assess compliance with applicable laws and regulations., Assessing the risk of material misstatement of the financial slatemenls, including the risk of material misslalement due to fraud and how il might occur, by holding discussions vviih management and those charged with governance., and Auditing the risk of management override of controls, including through testing of journal entries and other ￿ljUStMentS for appropriateness. Due lo tha inh8r8nl limitations of an audil. thère is a risk that we will not delecl all irregulariliès, including thosÈ18ading 10 8 mÉlerial misstalement in the financial statements or non-compliance with regu18tion. This risk increase8 the more that Complian￿ with 8 law or regulation is removed from the events and Iransaclions reflected in the financial slatements, as we will be less likely to become aware of instances of non-compliance. The risk is 81so greater regarding irregularities occurring due lo fraud rather than 8rror, as fraud involves intentional concealment, forgery. collusion. omission or misrepresenlalion. Paoe 23 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED ICONTINUEDI A further deseriplion of our responsibilities for the audit of the financial statements is located on the Financial Rèporting Council's website al.. www frc or uklau.Yitorsres onsibililie8. This description fomis part of our Auditors, Report. Use of our report This raport is made solely lo the charitable cornpany's members. as a body, in accordance with Chapter 3 of Part 16 of lh8 Companies Act 2006. Our audit work l)as been uiideilciKei) so Ihat we iiiighl slale lo Ilie cliaritable conipdny's Ineiiibefs those rr)allers we are required lo state to them in an Auditors, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assum8 responsibility lo anyone other than the charitable company and its members, as a body. for our audit wo￿, for this r8POrt. or for the opinions wè have lomed. Joanng Fox BA FCA (Senior StstutDry Auditor) for and on b8half of BW Audit Ltd Chartered AccDunt8nt5 S181ulory Audilors Berry & Warren 54 Thorpe 14oad Notwich NR1 1RY 29 September 2025 Paoe 24 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds Restrl¢ted funds 2024 2024 Total funds 2024 Tolal funds 2023 Nol• Income from.. Donations andlggacies Chari18ble activities 385,857 3,712,938 75.446 461,303 3,712,938 51Q,625 4,224,719 Other trading activities Investments 2,017,269 2,017,269 2,46D,994 12,899 Total Income Expendilure on: Raisin9 funds Chari18ble acliviligs 6,116,065 75,446 6,191,511 7,209,237 1,829,749 4,864.391 1,829,749 4,864,391 2,30Q,813 6,107,641 Total exp•ndltur• 6,694,140 6,694,140 8,408,454 Net lexpenditurellincome Translers between funds {578,0751 64,466 75,446 164,4661 1502,6291 (1,199,21 T) 19 Net movement In funds (513,6091 10,980 1502,6291 (1,199,21T) Reconclllatlon of funds: Total funds brought forward Nel movemonl in funds 2,772,177 (513,6091 11,215 2,783,392 1502,6291 3,982,609 10,980 (7.199,217) Total funds ¢arrl•d forward 2,258,568 22,195 2,280,763 2, 783,392 The Consolidaled Stalem8nt of Finarcial Activities indudes 811 gains 8nd losses r8cognisgd in th8 year. The notes on pages 30 to 51 form part of these financial slalements. Paoe 25 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) REGISTERED NUMBER: 08250951 CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Noto Flxgd a$$et$ Intangible assets Tangible assg 12 46,965 3.849,842 55,145 13 4, 113, 156 3,896,807 4, 178,307 Current assets Stocks 15 50,116 203,369 52,496 55,307 Debtors 16 206,525 Cash at bank and in hand 352,366 305,981 614,198 Creditors.. amounts falling due within ong year 17 (1,578,197) (1,542.185) Net current Ilabllltlgs 11,272,216) (927,987) Total asg818 lèss current liabilitiès 2,624,591 3,250,314 Credllors.. amounls falling due after more than one year 18 1343,828) (456,922) Total n•t as8et8 2,280,763 2, 783,392 Charlty funds Restricted funds 19 22,195 2,258.568 11,215 Unreslricl8d funds 19 2,7T2,177 Total funds 2.280,763 2, 783,392 The Trustees acknowÈdge Ihelr responslbllllles for complylng wllh the requlrements of the Aci ￿th respect lo accountlng records an(J preparation of financial slalements. The financial slalements were approved and authorised for issue by the Trustees and Signed on their behalf by.. G F Smith Chalrwran Date.. 26 September 2D25 The notes on page$ 30 to 51 form part of these financial slalem8nls. Paoe 26 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) REGISTERED NUMBER: 08250951 COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 2024 2023 Noto Flxgd a$$et$ Intangible assets Tangible assg Investments 12 46,965 3.589,090 55,145 13 3, 792,298 14 3.636.056 3,857,444 Current assets Stocks 15 10,966 197,741 20.247 16,203 Debtors 16 200,251 326,573 Cash al bank and in hand 228,954 543,027 Creditors.. amounls falling due within one year 17 (1,508,319) (1,244, 187) Net current liabilities 11,279,36S) (791, 160) Total assets lèss curront liabilitiès 2.356,691 3,156,284 Creditors.. amounls falling due after more than one year 18 1343,828) (456,922) Total net asset$ 2,012.863 2,689,362 Paoe 27 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) COMPANY STATEIAENT OF FINANCIAL POSITION {CONTINUED AS AT 31 DECEMBER 2024 2024 2023 Note Charity funds Restricted funds 19 22,195 1,990,668 11,215 Unrestricted funds 19 2,678,147 Total funds 2.012.863 2,689,362 The company's nel movemenl in funds for Ihe year was £{676,4991 (2023- £{1,310.938)). The Truste85 acknowledge their responsibllilies for complylng wlth the reqLJSremenls of the Act ￿th respect to accounting records and preparation of financi8151818m8nl8. Thg financial slalgmgnls wgrfj approved and authori$ed for issug by Ihg Tru$tses and sign9d on their b9half by.. G F Smith ChairThan Date.. 26 September 2D25 The notes on pages 30 to 51 form part of these financial slalements. Paoe 28 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating activities Nel cash used in operating activities {207,7111 (180,690? Cash flows from Investlng a¢tlvltles Proceeds from the sale of tsngible fixed assets Purchase of tangible fixed assets Interest pald 5,230 {139,3641 (55,7081 (365,015) (76, 780? Net cash used In Investlng a¢tl¥ltleg {189.8421 {441,7951 Cash flows from financing activities Repayments of borrowing Repayments of other IDans {211,6571 (110.0001 (238,128) (256,513) Net cash used In flnanclng actlvltles {321,6571 {504,6411 Change In cash and cash equlvalents In the year {719,2101 11,127,126) Cash and ca8h equiv8lent3 8t the beginning of the y8ar 332,366 1,479,492 Cash and cash equivalents at the end of the year {366,8441 352,366 The notes on pag8s 30 to 51 form part of these financial statements Paoe 29 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 DECEMBER 2024 General inforrnation The Zoological Society of East Anglia Limited is a private company, limited by guarantee incorporated and domialed in England and Wales. registration number 08250951. The address of the registered office is ZSEA Zoo Hq The Zoological Society of East Anglia, Kenninghall Road, Banham, Norfolk, NR16 2HE AGGounting PLJliGie¥ 2.1 Basls of preparatlon of flnanclal statements Th8 financial statements have been prepared in accordance with the Charitie5 SORP IFRS 102} - Accounting and Reportin9 by Charities,. Statemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicab18 in the UK and Republic of Ireland IFRS 1021 and the Companie5 Act 20D6. The Zoological So¢iety of East Anglia Limiled meets the definition of a publi¢ benefit enlily under FRS 102, Assets and liabilities 8re inib'ally recognised al historical Cost or transaction value unlass oth8rwis8 staled in the relevant accounting Folicy. The Consolidated Slalgment of Financial Aclivilies ISOFAI and Consolidalgd 8alance Sheet consolidal8 the financial statements ol the company ané its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basls. Th8 company has lak8n advanlage of th8 exemption allowed under 58clion 408 of the Companies Act 2006 and has not presented ils own Statement of Financial Activities in trese financial stalemenls. 2.2 Golng c￿Cern A rolling 12 month foreca81 profil and loss account, b81ance sheet and cashflow is prepared on 8 rnonthly basis lo ensure that the Charity has fuThls to invest and remains within its available cash and reserve targets. The modelling considers the macro and micro-economic factors, which include changes in National Living Wage, changes in lax6s, inflation, interest rale changes, the cosl-of-living crisis and rising pric83, particularly energy. The charity has secured an overdraft of £500k secured lo March 2026, with support lor this to be extended until September 2026 and agreement on short term deferment of loan repayments. if needed. Based on this. the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going C(￿CeM basis in preparing the firwncial slalernenls. Paoe 30 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng poll¢lès l¢ontlnued) 2.3 Income All incoma is recognised once th& company has enli11grNant tc) th9 income. il is probable that the incoma will be receivad and the amount of income receivable can be measured reliabw. The rgcognition of income from legacies is dependent on e$tsblishing gntitlement, the probability of receipt and the ability lo estimate with sufficient accuracy the amount receivable. Evidence of entillemenl lo a legacy exists when the company has sufficient evidence Ihal a gift has been left to them Ilhrough knowledge of the existence of a valid will and the death of the benefactor) and the executor is sat15fied that the pro￿rtY in question will not be required lo satisfy claims in the eglalg. R9CE)IPt of a lagacy mLisI be recogniB9d when 1116 probabla that it will bg rgceived and the fair value of the amount recelvable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured. Grant5 are included in Ihg Consolldaled Staternenl ol Financial Aclivilie5 on a r8c8lvable basi5. The b8lanc8 of income received for specific purpose8 bul not expended during Ihe period is shown in the relevanl lund$ on Ihe Balance Sheet, Where income is received in gdvance of entillemenl of receipt, its re¢ognilion is deferred and included in creditors as deferred income. Where enlillemenl a￿UrS before income is received. the income is accrued. Adinissloi) Incoine is recogiiised in the p8(iod in wl)Ich il is receivable ai)d lo the exlenl Ihe goods have been pwovided or on completion ol the service. Proceeds Irom the sale ol annual passes is initially deferred and subsequently released on a slraighl line basis acrDss the perlod lo whlch Ihe pass relates. Donations are recognised in the period in which they are received. other income is recognised in the period in which il is re¢eivable and lo the extent the goods have been provided or on completion of the servic8. 2.4 Expèndituro Expenditure is recognised on an accruals basis once there is a legal or constructive obligation lo transfer economic benefit to 8 third paty, il is prob8ble that a transfer of economic bgnefils will be required in 59111ement 8nd the amount of the obligation can be measured reliably. Expenditure is classilied by aclivily. The costs of each activity are made up ol the lolal of direct costs and shared costs, including support costs involved in undertaking each activity. Oirect costs atlribulable lo a single a￿1vitY are allocated direolly to th81 activity. Shared oosls which Contribute lo more than one aclivily and support costs which are nol allribulable lo a single activily are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use, Expenditure on raising funds includes all expenditure incurred by the group lo raise funds for its charitable purposes and includes costs ol all fundraising aclivilies events and non.charitable trading. Expendilure on charitable activities is incurred on directly undertaking the activities which further th8 group's objeclives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. Paoe 31 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng poll¢lès l¢ontlnued) 2.5 Penslons Thg group opgra18s a defined conlribulion pension schemg and the pansion charge represents thg amounts payabla by the group lo the fund in respect of the year. 2.6 Operatln9 lease$ Rentsls paid under operating leases are charged to the Consolidated Sla18menl ol Financial Activities on a straight-lin8 basis over the lease term. 2.7 Inl•r•st r•c•lvabl• Intergsl on funds held on deposit is included whgn re￿1vable and the arnounl can be measured reliably by the group,. this its Iioriiially uyuii iiuliliuailiuri vl Ili¥ iri1¥1￿&( P£iid ur payrJbl¥ by Ilif9 il)t>liluliuii willi wliuiTI Itri￿ fuiids ¢irg d￿PU￿1(￿lI. 2.8 Inlanglblè assèls and amortlsatlon Intangible assets Costing £500 or more are capilalised and reco9nisèd when future economic benefits are probable, and the cost or value of the asset can be measured reliably. Int8ngSblo assets are inillally recognlsed at cost. After recognlllon. under the cost model. Intangible 8SS8ts are measured al cost less any accumu181ed 8Mortisa￿.0n and any aceumulaled impairment losses. Amortisalion is provided on intangible assets at rates calculatsd lo write off the cost of each asset on a 5traight-ling basis over ils expected useful life. Amortisation is provided on the following basis.. Computer software 20 U/0 slraighl line 2.9 Tanglble flxed assets and depreclatlon Tangible fixed assets c061ing £500 or more 8re capilalised and recognised when future economic benefits are probable and tho cost or value of the asset can be measurod reliably. Tangible fixed assets are initially recognised al cost. After reco9nilion, under the cost model, tangible fixed assets are m8asur8d al cost 18ss accumLilalad d8prècialion and any aecLJmiilatèd impairmgnl 10888s All costs incurrèd to bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Paoe 32 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng poll¢lès l¢ontlnued) 2.9 Tanglble flxed assets and depreclatlon (contlnuedl Deprgciation is charged so as to allocat8 the cost of tangibl8 fixed assets 18ss their residual value over their estimated useful lives. Depreciation is providod on the following bases.. Long-lerm leasehold property improvements Motor vehicles Fixtures, fillings and computer equipment Zoo 8nc105ur8s 2 /0 straight line 20¢/9 r￿U¢1n9 balanee 10-33¥0 reducing balance and 20 /0 straight Ilne 3-50/0 Straight line Assets in the course of ¢onslru¢lion are not depreciated until after they are brought into use. 2.10 Investments Inv881menls in subsldiaries are valu&d al cost less provision for impairment. 2.11 Stocks Stocks are valued al the lower of cost and nel realisable valu8 after making due allowance for obsolete and slow.moving stock5. Cost is based on the c051 of purch858 on 8 first in, first out basis. 2.12 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade dis¢ounls due. 2.13 Cash at bank and in hand Cash al bank and in hand inclLKl8s cash and short-temi highly liquid investm8nts with a short malurily of three months or le55 from the dale of acquisition or opening of the deposit or similar account. 2.14 Liabilitiès and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past evenl, il is probable Ihal a transfer of economic benefit w511 be required in seltlemenl, 8nd the amount of the selllement can be eslimaled reliably. Liabilities are recognised at the amount thal the cornpany anlicipates il will pay lo settle the debt or the amount it has received as advanced payrnen15 for the goods or services it musl provide. 2.1S Financial instruments The group only has financial assets and financial liabilities of a kind that qualify as basi¢ linancial instruments. Basic financial instruments are initially recognised at transaclion value and subsequently measured al their settlement value with tho ¥xfyvptsun uf b(Ink Io(Inb whiLh (Ir¥ subb¥yu¥nlly rn¥