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CHARITY REGISTRATION NUMBER: 1158422
Dartmoor Zoological Society
(A Charitable Incorporated Organisation)
Consolidated Financial Statements
31 December 2021
WESTCOTTS LLP
Chartered accountants & statutory auditor Plym House 3 Longbridge Road Marsh Mills Plymouth PL6 8LT
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Dartmoor Zoological Society
Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent auditor's report to the members | 16 |
| Consolidated statement of financial activities | 20 |
| Consolidated statement of financial position | 21 |
| Statement of financial position | 22 |
| Statement of cash flows | 23 |
| Notes to the financial statements | 24 |
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
The trustees present their report and the financial statements of the charity for the year ended 31 December 2021.
Reference and administrative details
Trustees
Solicitors
Mr Benjamin James (Chairperson) Mr Simon Almond Mr Benjamin Mee (and voluntary CEO) Mr James Ross Mr Douglas Richardson (appointed 22 March 2022)
McCarthy Denning Minster House 42 Mincing Lane London EC3R 7AE
Bankers
Chief Operating Officer
Coral Jonas
Principal address
Dartmoor Zoological Park Sparkwell Plymouth PL7 5DG
Registered Charity Number
1158422
Santander Bridle Road Bootle Merseyside L30 4GB
CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Auditors
Wescotts LLP Plym House 3 Longbridge Road Plymouth PL6 8LT
Senior Management Team
Thomas Roberts – Director of Finance Clare Lee – Head of Compliance Alyn Thomas – Head of Catering, Retail and Events Tim Steward – Head of Maintenance Scott Chambers – Curator
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
The trustees of Dartmoor Zoological Society (the Charity ) present their annual report and consolidated financial statements for the year to 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s Constitution, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
Objectives and activities for the public benefit
The objects of the Charity are predominantly to benefit the public by operating a zoo and providing education for students to learn about animals, nature and conservation.
The objects are:
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for the benefit and education of the public, the conservation of the earth's natural resources through projects and initiatives dealing with the conservation and protection of living animals and their habitats;
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to educate the public in a formal and informal manner through educational programmes raising awareness and respect for nature; and
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to carry out scientific and quantitative research from which conservation and animal welfare benefits can accrue and to provide for the publication of the results of such research.
While planning the future direction of the Charity, the trustees have had regard to the Charity Commission’s guidance on public benefit.
Achievements and performance
Overview
Having been closed for a number of months during 2020, we started 2021 in the midst of another COVID-19 lockdown with the Zoo closed for three months, only opening at the beginning of April 2021.
We had implemented our contingency plans at the end of February 2021 to ensure both animal and public safety. The key measure was that the animal team was split into two distinct teams that did not interact in person. This meant that should one team not be available due to illness we had a team that could care for all of the animals. We also had a back-up in place should both animal teams be indisposed. The safety of our workers, animals and the public was our driving concern. These plans worked well and remained in place until the end of 2021.
Closing for three months in 2021 did not impact on our aim to increase visitor numbers and our visitor numbers increased from our 2019 high of 63,411 to 74,071. This outperformed our target of 59,264 considerably. We maintained a restriction on the number of people permitted at any one time into the Zoo to maintain a distanced environment. Considering visitor numbers for the year against 2020 (47,784) we achieved 74,071, which considering the restrictions and the period of time for which we were closed, was an excellent result.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
Due to the lack of income and limitation on reserves, the Department for Environment, Food and Rural Affairs ( DEFRA ) provided a series of grants during 2021 which:
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covered the costs of the keeping team salaries;
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covered the costs of the maintenance team salaries; and
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provided money to cover core maintenance projects on the basis that the work replaced existing infrastructure.
We where able to manage the Charity’s financial affairs in such as way as to ensure that income was allocated in part to development projects so that advancements were paid for by the Charity with replacement infrastructure being covered from the grants. Improvements included:
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the resurfacing of the visitor car park;
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the replacement of large parts of the African Paddock fence;
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replacement of the restaurant doors and windows;
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replacement of the restaurant furniture;
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replacement of animal house windows;
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electrifying the front gates;
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updating the Tapir Ponds;
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the resurfacing of the disabled carpark;
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the introduction of enhanced CCTV for animal safety and research;
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the replacement of the restaurant roof;
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the refurbishment of the visitor toilets; and
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the replacement of the barn roofs.
We were also able to enhance the reptile house which had been moved from the main building to the education centre.
Following the work completed in 2020 we consolidated our position as a charity and the public recognise more that the Zoo is not privately owned and is a charity, having been kindly donated by the Mee family in 2015. Removing the perceptions created by the film, “We Bought a Zoo”, allowed us to build significantly on our fundraising.
The education team did not have the ability to welcome until the latter half of 2021, however, they continued to offer a series of amazing seminars and virtual experiences over the first lockdown which provided morale boosts to so many of our supporters. They also maintained the virtual schools experience to maintain the interest of young learners in conservation and zoology even though they could not visit in person.
Our fundraising campaigns have continued to work and the money raised plus Government support resulted in sufficient income to survive the closure and the limitations on reopening. The total amount received from individual and corporate donors and local authority and DEFRA grants in 2021 amounted to just over £690,000 (2020: £590,000) of which only £2,000 (2020: £10,000) was restricted. The donated income was applied to animal welfare, including keeper costs and significantly helped our position until ticket income recommenced.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
The Beacon database continued to show its value. Having consolidated the data in 2020, 2021 was spent reviewing the quality of the data and ensuring that it was up to date. Further, new data was continually added to the information that was held. Further work is required; however, this shows that we continue to have over 15,000 supporters, many of which have given donations to support the work of the Charity in 2021. These supporters have shown a commitment to the work of the Charity and show a sustainable future.
Animal Developments
2021 was a further year of consolidation rather than expansion, however, we were joined during the lockdown by a pair of White Faced Saki monkeys. This was an exciting addition to the collection and we converted the crane enclosure into a mixed monkey exhibit, where the Saki Monkeys joined the red handed tamarin and our agouti group.
Other additions have been:
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two Kirk’s dik-dik;
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a giant danio;
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a white cheeked turaco;
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a female capybara;
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two greater rhea; and
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a rehomed peafowl.
Our Northern Luzon Giant Cloud Rats commenced breeding and two pups were born in 2021. We also restarted our capybara breeding programme and five pups were born in November. They joined a long-nosed potoroo joey born in September. We also saw a hatch of Walkingstick insects.
Historically our collection has been aging, however, due to changes over the last few years deaths have been declining and in 2021 we lost a number of our animal friends, these included:
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one of our female lionesses;
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a capybara;
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two red-necked wallabies;
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a domestic goat and;
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a slender-tailed meerkat
Turning to the Aviaries, we did also loose a guinea fowl and a greater rhea.
Our ethics procedures continued to work well and all matters were appropriately settled procedure. Our zoo inspectors considered the policy to be more through than they were used to, we found this surprising considering the procedures closely follow the requirements of the Secretary of State set out in the statutory guidance.
The reptile and arachnid collection has a much shorter lifespan than the mammalian collection and the following animals left the collection, a land hermit crab and a kingsnake along with Kevin, our boa constrictor, a friend to many visitors to the Zoo.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
Having been approved to take part in the European captive breeding program for the Amur Leopard in 2018, we were not able to commence this project in 2021, however, this is a project on which we continue to work with the enclosure work commencing in 2022.
Education, Learning and Research
In 2021 we kept the majority of our work online. This continued to be a great success and we provided nearly all of the Zoo engagement online in 2021, this allowed visitors to download and view information electronically as they visited each enclosure.
The team continued to provide virtual schools sessions built around the national Curriculum, which again was successful and provided a replacement income for the usual school and educational visits.
We continue to note that private outreach companies that are not as regulated as charitable zoos are a cause for concern. There unregulated status means they can take larger more impressive animals out to schools. This remains a concern for us, both as a source of competition and concern as to how these unregulated visits to schools and colleges could negatively impact on the reputation of all outreach programmes.
Overall we provided educational services to 4,894 students in person from 46 schools and 985 students attended virtual learning from 4 schools.
In 2021, our researchers where very restricted in being able to undertake their work, while they worked from home, not having access to animals for much of the year was problematic. We did not establish new projects in 2021. We had aimed to publish three papers to international journals, we were due to publish two papers in 2021, however these were rolled over to 2022.
One of our long-term aims is to increase the number of research projects. This has been successful and we had 32 available projects on 2021 (29 in 2020) ongoing research projects. We hope that after the reduction due to the pandemic in 2020 and 2021, this will allow us to continue to increase the number of papers that we publish year on year.
We have not been able to develop our partnership with a local nursery to provide pre-school services permanently on site. However, we continue to explore the possibility of bringing pre-school children to the Charity in bespoke classrooms.
Our educational aims for 2022 are to work to increase our outreach and general education visit numbers, conduct fundraising for the conservation work that we undertake and continue to improve the whole zoo signage. We also aim to continue to maintain the work with leading universities to attract new research projects.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
Other significant leadership developments
As the effects of the COVID-19 pandemic lessened we were able to recruit a new permanent curator in 2021. Hannah Webb our Head Keeper and Acting Curator did an excellent job in very difficult circumstances keeping all of the animals and her team on track, often without volunteers and with a spilt team. We are very grateful for the work that she undertook in 2021. In December we were joined by Scott Chambers as the new curator. He joined us from Austin Zoo in Texas and brings a wealth of animal and veterinarian experience.
We continued to update our policies and introduced over ten new and updated policies over the course of the year.
Recruitment of new members of the Ethics Committee continued and an independent veterinarian agreed to join the committee in 2021. We will continue with the development of our ethical policies.
We manage the Charity’s collection using ZIMS. Currently a number of paper records are kept which are transferred to ZIMS as and when time is available. During 2021 we expected to phase out all paper records and ensure that the technology is in place for all records to be placed straight into ZIMS without creating paper records. We believe that this will free up keeper time and ensure that all records are kept up to date. This project has started but will continue into 2022.
The new website launched in 2021 and was well received. This allowed much easier online bookings and instance updates. The information provided was refreshed and a full outline of the services offered where provided for the first time.
Site Development
With the closure of the Site, we were able to continue to undertake some much-needed maintenance work, specifically we planned and introduced a new African Aviary in the centre of the Zoo and following the introduction of the new bore hole refreshed the entire water system. We also replaced the entire sewage system creating a system which was contained and cleanable and stopped overflows and leaks.
In addition to the funds provided to pay the keeper teams and cover the costs of animal food and vet support, the Zoo Support Fund allowed us to undertake a great deal of maintenance of the Site in 2021.
We introduced new office space for the senior management and also refreshed the existing offices.
We have continued a pro-active and busy schedule with our 1,000+ trees. Working on the tree database which was revised last year we managed to deal with the majority of outstanding issues and only had one tree fall near an enclosure all year.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
Catering, Retail and Events
Catering suffered badly, not only through the closure of our restaurant and other facilities, but also due to the reopening restrictions which caused our indoor facilities to be closed for much of the year. However, the income generated during the time we were open, increased considerably over the normal spending which was very gratifying as it showed the considerable work to develop menus and related activities had worked well.
We continue to aim to ensure we used fresh, local produce, local suppliers and regular specials; we saw a significant increase in profit margin. We believe that this was also due to the work undertaken on visual awareness of our policies on sustainable and ethical purchasing using printed information, handouts and informative chalk boards.
Once reopened the coffee bar was popular with all age groups. The kiosks were running almost to capacity and we rebuilt the children’s outside play area.
We also continued our work on refreshing our retail offering, purchasing ethical products, from recycled materials and reducing plastic etc, whilst ensuring the right amount of cute and cuddly gifts at the same time.
We continued to develop the skills of our kitchen staff and they have experienced creating new dishes which have been added to the menu during their training periods.
We held a small number of events, the most impressive of which was our second Christmas Light events.
The number of wedding bookings increased and we are hoping to redevelop our wedding offering in 2022.
The 2020 full review of the trading company accounts continued to show improvements and the trading company was able to move back into providing a surplus which was paid to the Charity.
Wellbeing
Our wellbeing programmes are very important to the Charity and comprise:
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Superkids;
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PTSD support programmes, especially for current and former service personnel;
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mental health awareness;
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wellness through nature; and
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corporate CSR support.
The Wellness Through Nature programme is rapidly building momentum.
The look and feel of the grounds have improved again, thanks largely to the charity’s novel use of hours of free and willing labour from corporate social responsibility ( CSR ). The Charity has netted over 1,470 (2020: 1,000) hours’ hard work and with that we have organically weeded and trimmed, edged and tended with people who are usually office-based.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
The effect has been far-reaching for a mobile phone company. After working at the Charity, the employees from their Plymouth call-centre showed slightly reduced call numbers but higher overall sales and significantly increased customer-satisfaction, meaning that they maintained their links with the Charity for a further year.
Service providers in the health sector (private and public) continue to become more aware of the service we provide, and recommendations or referrals from GPs, mental health charities and a housing association continue to roll in. They get a green space with fresh air and meaningful work for a good cause, the Charity gets maintenance and groundskeeping tasks fulfilled.
We continued to support our Superkids through the year through their families, online and in through wider contact. While they could not spend time in the Zoo, they were set tasks related to the work they had previously carried out at the Zoo and we were pleased how this project was maintained throughout the restrictions.
Supporters
We would like to thank all of those that have visited and supported the Charity over the last year. Without the support of the visitors it would be impossible to protect the amazing animal collection that we maintain at the Charity.
We would also like to acknowledge the local partners and organisations who have helped us throughout 2021 with financial donations, donations in kind and blood, sweat and smiles:
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Devon Contract Waste – Free “Zero to Landfill” refuse collection, and donation for animal enclosure projects.
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Air Improve Ltd – Free servicing and repairs of our air conditioner in the Jaguar restaurant.
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Aquamarine – Free Google Analytics support.
Financial Review
The consolidated balance sheet showed a positive balance for the year of £658,072 (2020 – £218,468). This is a considerable turn around after many years of losses and mainly resulted from an increase in fundraising and emergency grants to assist with COVID-19.
Our main source of funding continues to be admission for entry to the exhibit which has funded the key objectives of the Charity. However, fundraising was vital for the period for which we were closed. The core income was supported by experiences, weddings, events and trading income.
The work undertaken on the trading company accounts in 2020 allowed us to continue to improve efficiency, whilst also improving the range of goods sold in the shop. We were delighted with the increase in trading income and expect this positive position to continue as COVID-19 becomes less of a trading problem.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
There was an increase of £867,884 in income with a decrease in costs due to cost saving measures implemented through lockdowns. Overall income was £2,458,229 (2020: £1,590,345) and costs in 2021 increased to £2,018,625 (2020: £1,153,452). Fundraising income was up considerably, mainly due to grants and individual donations with small donations increasing substantially. Trading income did recover in in the latter half of 2021 with the final income figures being £483,451 (2020: £236,746). The decline was due to the number of months we were closed.
We were able to significantly repay our debt through the use of the money we received in ticket sales due to the other support we received. At year end we had repaid all short and long term debt (2020: the outstanding amount was £105,796 in short term lending and a further £145,000 in longer term loans).
Wedding income increased even though we did have to cancel some weddings. However, interest in bookings for 2022 and 2023 increased considerably and we are expecting to undertake many more weddings than in the past. Education income was almost wiped out by the lack of school visits, however, this started to bounce back in 2021.
Fundraising income was the highest it had ever been and we are aiming to continue this trend. We do not expect to raise the same amount per campaign as in 2021, but the trend is showing increasing general donations by the public and other supporters.
The steps which were introduced in 2018 to increase visitor numbers continued to work and as set out above visitor numbers increased. We managed some record visitor numbers once we reopened and we believe that this was due to an increased focusing on marketing, bringing marketing in house and increasing the number of animals so that there were limited empty enclosures.
We expect weddings to be a larger part of the continuing income stream. Pricing models have also changed to ensure that whilst weddings remain good value a surplus can be generated for the Charity. Teambuilding and other corporate events are planned for the future and will also increase revenue.
In order to encourage regular return visitors, it is necessary to have a dynamic animal collection and ensure that they are young and mobile. In 2021 we lost a number of the older animals and obtained new exhibits and new animals. We have continued the implementation of our new animal collection plan created by the Chief Operating Officer (formerly the Deputy CEO) and Curator to ensure that as animals leave, we are in a position to replace them with younger, interesting species with high conservation and education value. The trustees are very pleased with the work that has been undertaken by both of these key team members. This has allowed both an increase in paid memberships and many others returning to the zoo on a more regular basis.
Cashflow is no longer difficult to manage, our cashflow forecasts have been prepared and any issues of concern identified and plans put in place to manage any difficulties. However, these are much less likely as a result of the 2021 financial performance and we are predicting positive cash flow balances a year to eighteen months ahead. Cash flow is carefully managed to ensure that the Charity can meet its liabilities as they fall due.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
In addition to the issues raised above we have further tightened cost control and our Head of Finance continued his review of suppliers. This has resulted in year-on-year savings on a number of costs including utilities. The trustees are very grateful to the work that has been done in this area.
In light of all of the concerns and steps that have been taken to address them as well as the positive impact we are already seeing from them, we have prepared the accounts on a going concern basis.
Post Year End Events
There have been no significant post year end events.
It costs approximately £25,000 per week to operate the Charity when it is closed to the public with employee support programmes. We estimated that between the end of 2021 reserves, support programmes and donations, we would have at least 4 months cash should lockdowns be reintroduced or other issues result in the zoo being closed. When open to the public if our rolling average number of visitors remains at above 100 per day, and donations remain at a steady level, all costs can be covered.
There is a clear income stream to ensure that the Charity is clearly viable to December 2022 and for the long term. With the numbers of visitors being able to increase, ticket income and our new fundraising programme will provide sustainable income for the future.
Going Concern
On the basis of several years of sustained losses, the trustees have considered whether the Charity is a going concern. It is the view of the trustees that the Charity is a going concern, this is on the basis that:
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visitor numbers again increased in many of the months we were open in 2021 over previous years;
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income from all areas of the Charity and trading company has increased;
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the changes made have had a positive impact on financial stability;
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costs are carefully controlled;
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research has shown that there is considerable scope for fundraising and the recruitment of a fundraiser will allow the charity to break even, repay debt and develop reserves along with allowing development of the site and the collection.
In addition, the income from voluntary donations and government grants have been significant and have ensured that the Charity has sufficient cashflow until at least December 2022. It is expected that donations over the winter will ensure that we have sufficient cash-flow until the middle of 2023 and possibly more.
Social Impact
The social impact of the work of the Charity is massive and includes:
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
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creating an awareness in all of those who visit the Charity about the impact on the planet of a reduction in animal life;
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creating an awareness of animals which are endangered and at risk;
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improving the lives of the “Superkids” whose troubled behaviour can be improved by spending time with the Charity;
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improving the lives of veterans suffering from a range of illness and who are engaged in rehabilitation;
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creating a place for people to visit and experience relaxation and learning development;
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supported volunteers with other charities undertaking support work in the grounds, allowing them to develop skills to assist their full reintegration into the community following brain and other injuries.
We aim to continue to maintain and improve the social impact that we have as a charity.
Plans for Future
Heading into 2021, we have a number of plans to develop the site and the animal experience. Key plans are:
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to enhance the visitor experience in the restaurant;
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develop WI-Fi throughout the Zoo;
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to apply for capital grants to help fund improvements in our all-weather appeal;
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implement our plans for Amur Leopards;
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complete the new otter house;
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commence the development of a new big cat house;
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to continue to develop the children’s play area;
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to launch the new hedgehog hospital to aid conservation of one of the UK’s most endangered animals;
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to enhance our conservation work on UK animals, specifically Scottish Wild Cats and the Hazel Dormouse;
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to develop our aviaries; and
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to complete the essential work on the boundary fence for example new gates.
Fundraising Statement
The Charity is registered with the Fundraising Regulator and undertakes all of its fundraising in accordance with the Code of Fundraising Practice.
We have undertaken a monthly fundraising campaign in 2021, all donations which have been received have been made on a voluntary basis. We have publicised that we are a charity and that we accept donations. This has been promoted through our social media feeds and our website. Our fundraising policies are signed off annually by the trustees. We have not engaged with any third parties to undertake fundraising on our behalf. A small number of donations have been received from supporters taking part in third party events and raising sponsorship.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
Our head of finance remains in charge of fundraising and he is responsible for managing future fundraising campaigns.
We have not received any complaints in 2021 in respect of our fundraising practices.
As an animal charity we are aware that our supporters are emotionally involved with our collection and that asking for money for animals is generally emotive. We ensure that our staff are trained in understanding that vulnerable people will be among our donors and we ensure that we do not expressly target elderly people or other vulnerable groups for donations. We ensure that we engage with our supporters to identify their interests. We are also looking to introduce a new fundraising database which will ensure that we can identity vulnerable supporters and ensure that we work appropriately with all groups.
Structure, Governance and management
The Charity is a registered charity in England and Wales under number 1158422. It is a charitable incorporated organisation constituted under a constitution dated 2 September 2014. The Charity commenced operation on 19 December 2014.
If the Charity is wound up, the members of the Charity have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
The constitution provides for a minimum of 3 and a maximum of 9 trustees.
Overall responsibility for the management of the Charity is vested in the trustees. The names of the trustees are set out on page 1.
The trustees have undertaken a skills audit and identified the areas in which they would like to recruit trustees. These are relatively specialist areas and there has been a difference in the skills required and the skills held by people offering themselves to be trustees. The financial position has also resulted in some reluctance to join the board due to a concern over CIO status.
Therefore, at present, any trustee vacancies would be recruited on an invite basis after considering the skills or experience required.
Risk management
The principal financial risk and uncertainty facing the Charity is an over-reliance on visitor numbers for funding. A fall in visitors could significantly impact the available resources of the Charity.
One factor that can affect visitor numbers is poor weather. To mitigate against this putting off potential visitors we will develop the site with semi-permanent shelters and indoor activities.
Another factor that can cause a fall in visitor numbers is not updating our attraction and our animals. We have shown in 2020 that by revitalising the collection we have increased the number of visitors and we expect this to continue with our current plans.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
The additional major risks that we face are:
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COVID-19 exposure and isolation;
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an animal escape;
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an animal attacking a keeper;
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an illness amongst the collection;
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an elderly collection;
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the costs of maintaining at risk animals;
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schools reducing the amount of time spent learning about animals;
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a lack of breeding in the collection;
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a reduction in research output.
All of the above issues have been considered by the trustees and plans and procedures are in place to guard against all of the risks which have been identified.
The strategic plan developed in 2018 has been actioned and amended to take into account the issues raised by COVID-19. This will continue with the development and refurbishment of new enclosures, review and development of each team and ensuring that the grounds are completely revitalised.
Few zoos manage to operate on ticket income and charitable fundraising is key to being able to stop operating in a deficit and to repay the current debt. Our fundraising in 2021 has shown that we have the ability to raise funds and that people are willing to make donations. Increasing regular giving is a priority for 2021.
Reserves policy
The charity’s short-term aim is to break even however within the next 2-3 years the trustees aim to begin to build up free reserves in unrestricted funds at a level which equates to approximately 6 months of unrestricted expenditure.
At the year-end, reserves were at approximately 4 months of expenditure (2020: 0).
The trustees are working on development plans to generate reserves of £650,000 which will increase as the Charity increases in size. It is hoped that this can be achieved by obtaining sponsorship and fundraising for core costs for the operation of the Charity and care of the animals, allowing income from entry fees, education and events to be divided between creating a strong reserve and developing the grounds.
As of the end of 2021, a reserve of £400,000 had been developed, meaning that the trustees are on the way to achieving their reserves policy aim by 2023.
Related and connected parties
A summary of transactions occurring during the year ended 31 December 2021 between related parties is shown in note 29 of the financial statements.
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Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
Pay Policy
The Charity’s policy is to pay all staff, regardless of age, at least the current National Living Wage. The overall aim is to review all salaries and begin a programme of market streamlining as funds become available. We are grateful to a committed staff group that provides love and care to all of our animals, whilst understanding the financial pressures on an animal charity of our size. We cannot take advantage of this goodwill and we will seek to improve salaries at the earliest opportunity.
Volunteers
Over the course of 2021, we received support from 79 (2020: 84) volunteers delivering 7,470 (2020: 5,000) which is a huge number of hours of volunteer time. This was provided as 6,000 hours of voluntary keeper time and 1,470 of maintenance time.
We also benefited from 38 volunteers working for the Discovery and Learning Team within Education and Research who provided 4,907 voluntary hours and 20 work experience students who provided 4,730 hours of time. The majority of volunteers in this team were not on site during 2020 to assist with Pandemic Management.
The volunteers have assisted in a wide variety of ways, including:
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maintenance;
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assisting the keepers;
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providing educational support to the visitors and undertaking a large number of daily talks and seminars;
-
administration;
-
animal care.
Overall, we benefited from 137 volunteers providing 17,922 (2020: 5,000) hours of support!
We work closely with the charity Grow 4 Good South West Limited ( G4G ). The G4G Volunteers and Staff have provided approximately 815 (2020: 1,060) hours of volunteer time within the grounds
The G4G volunteer team have been involved in not only the general up-keep of the landscaped areas but have also:
-
taken on the management of the pot plants and general cleanliness at the front of the main house to keep it looking tidy for weddings;
-
undertaken the clearing of overgrown areas of the park;
-
planted appropriate plants in some of the larger enclosures to provide cover and enrichment for the animals;
-
pruned and maintained the hedges around the Tennis Courts and the Fern Garden.
G4G has maintained a steady group of Volunteers (at present numbering 17) ranging from people suffering Stress Related Illness, PTSD, Repetitive Depression and Major Brain Injury, none of whom would have a base without the effective Partnership Working between both G4G and the Charity.
14
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
The CEO Benjamin Mee provided his services without payment as a volunteer, as he has since donating the zoo to the Charity.
Benjamin James has provided pro bono legal services to the charity over the course of the year.
Mr Simon Almond, a trustee has provided numerous voluntary services to the Charity including free waste collection services as well as donating funds and goods. His support and dedication are much appreciated by all of the trustees and staff.
The trustees would like to thank all of the volunteers for the work that they have undertaken over the last year. The Chairperson would also like to thank the trustees, not only for their commitment in assisting the Charity over a difficult year, but for the financial commitment that has also been provided by two in particular.
Trustee Duties
The Charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to Charities in England requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the Charity and of the incoming resources and application of resources, of the Charity for that period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the applicable Charities SORP;
-
make judgements that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue its operations.
The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulation, and the provisions of the Constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
The trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
15
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Trustees' Annual Report (continued)
Year ended 31 December 2021
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the Trust's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved by the trustees of the charity on 22 July 2022 and signed on its behalf by:
Benjamin James Chairman
16
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Independent Auditor's Report to the Members of Dartmoor Zoological Society
Year ended 31 December 2021
Opinion
We have audited the financial statements of Dartmoor Zoological Society (the 'charity') and its subsidiary (‘the group’) for the year ended 31 December 2021 which comprise the consolidated statement of financial activities, the consolidated and charity statements of financial position, the consolidated and charity statements of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Charities SORP - FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the group and charity's affairs as at 31 December 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
17
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Independent Auditor's Report to the Members of Dartmoor Zoological Society (continued)
Year ended 31 December 2021
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group and charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or charity or to cease operations, or have no realistic alternative but to do so.
18
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Independent Auditor's Report to the Members of Dartmoor Zoological Society (continued)
Year ended 31 December 2021
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
-
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the Trustees and other management. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
-
The group and charity are subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation. The group and charity are also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including the Zoo Licensing Act, employment, anti-bribery and anti-money laundering.
-
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of
19
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Independent Auditor's Report to the Members of Dartmoor Zoological Society (continued)
Year ended 31 December 2021
accounting estimates and related disclosures made by the trustees.
-
Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group and charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or charity to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the group and charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the group and charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the group and charity and the group and charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
A Croney ACA (Senior Statutory Auditor)
For and on behalf of Westcotts LLP Chartered accountants & statutory auditor Plym House 3 Longbridge Road Marsh Mills Plymouth PL6 8LT 16 September 2022
20
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Consolidated Statement of Financial Activities
Year ended 31 December 2021
| Group | Group | ||||
|---|---|---|---|---|---|
| 2021 | 2020 | ||||
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 217,076 | 2,000 | 219,076 | 401,288 |
| Charitable activities | 5 | 1,755,434 | – | 1,755,434 | 952,120 |
| Other trading activities | 6 | 483,451 | – | 483,451 | 236,746 |
| Investment income | 7 | 268 | – | 268 | 191 |
| ----------------------------------------- | ----------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total income | 2,456,229 | 2,000 | 2,458,229 | 1,590,345 | |
| ========================================= | ======================= | ========================================= | ========================================= | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 8 | 25,411 | – | 25,411 | 10,799 |
| Expenditure on charitable activities | 9,10 | 1,987,670 | 7,641 | 1,995,311 | 1,142,653 |
| Other expenditure | 12 | (2,097) | – | (2,097) | – |
| ----------------------------------------- | ----------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total expenditure | 2,010,984 | 7,641 | 2,018,625 | 1,153,452 | |
| ========================================= | ======================= | ========================================= | ========================================= | ||
| ----------------------------------------- | ----------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Net income and net movement in | funds | 445,245 | (5,641) | 439,604 | 436,893 |
| ========================================= | ======================= | ========================================= | ========================================= | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 134,999 | 83,469 | 218,468 | (218,425) | |
| ----------------------------------------- | ---------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 580,244 | 77,828 | 658,072 | 218,468 | |
| ========================================= | ============================ | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 25 to 36 form part of these financial statements.
21
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Consolidated Statement of Financial Position
31 December 2021
| Group | Group | ||
|---|---|---|---|
| 2021 | 2020 | ||
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 17 | 221,585 | 166,002 |
| Current assets | |||
| Stocks | 19 | 27,646 | 24,785 |
| Debtors | 20 | 41,620 | 114,540 |
| Cash at bank and in hand | 534,169 | 261,692 | |
| -------------------------------- | -------------------------------- | ||
| 603,435 | 401,017 | ||
| Creditors: amounts falling due within one year | 21 | 157,785 | 203,551 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 445,650 | 197,466 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 667,235 | 363,468 | |
| Creditors: amounts falling due after more than one year | 22 | 9,163 | 145,000 |
| -------------------------------- | -------------------------------- | ||
| Net assets | 658,072 | 218,468 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Restricted funds | 77,828 | 83,469 | |
| Unrestricted funds | 580,244 | 134,999 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 26 | 658,072 | 218,468 |
| ================================ | ================================ |
The notes on pages 25 to 36 form part of these financial statements.
22
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Statement of Financial Position
31 December 2021
| Charity | Charity | ||
|---|---|---|---|
| 2021 | 2020 | ||
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 17 | 203,693 | 157,878 |
| Investments | 18 | 2 | 2 |
| Current assets | |||
| Debtors | 20 | 40,226 | 110,358 |
| Cash at bank and in hand | 522,401 | 255,312 | |
| -------------------------------- | -------------------------------- | ||
| 562,627 | 365,670 | ||
| Creditors: amounts falling due within one year | 21 | 122,372 | 186,430 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 440,255 | 179,240 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 643,950 | 337,120 | |
| Creditors: amounts falling due after more than one year | 22 | 9,163 | 145,000 |
| -------------------------------- | -------------------------------- | ||
| Net assets | 634,787 | 192,120 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Restricted funds | 77,828 | 83,469 | |
| Unrestricted funds | 556,959 | 108,651 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 26 | 634,787 | 192,120 |
| ================================ | ================================ |
These financial statements were approved by the board of trustees and authorised for issue on 22 July 2022, and are signed on behalf of the board by:
Mr Benjamin James Trustee
The notes on pages 25 to 36 form part of these financial statements.
23
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Statement of Cash Flows
Year ended 31 December 2021
| Group | Group | |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 439,604 | 436,893 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 29,816 | 23,592 |
| Gains on disposal of tangible fixed assets | (2,097) | – |
| Changes in: | ||
| Stocks | (2,861) | (2,829) |
| Trade and other debtors | 70,131 | (62,398) |
| Trade and other creditors | (42,977) | (78,537) |
| -------------------------------- | -------------------------------- | |
| Net cash from operating activities | 491,616 | 415,667 |
| ================================ | ================================ | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (86,076) | (73,209) |
| Proceeds from sale of tangible assets | 2,500 | – |
| -------------------------------- | -------------------------------- | |
| Net cash used in investing activities | (83,576) | (73,209) |
| ================================ | ================================ | |
| Cash flows from financing activities | ||
| Repayments of borrowings | (135,563) | – |
| -------------------------------- | -------------------------------- | |
| Net cash (used in)/from financing activities | (135,563) | – |
| ================================ | ================================ | |
| Net increase in cash and cash equivalents | 272,477 | 18,180 |
| Cash and cash equivalents at beginning of year | 261,692 | 243,512 |
| -------------------------------- | -------------------------------- | |
| Cash and cash equivalents at end of year | 534,169 | 261,692 |
| ================================ | ================================ |
The notes on pages 25 to 36 form part of these financial statements.
24
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Dartmoor Zoological Park, Sparkwell, Plymouth, PL7 5DG.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Income tax
The charity is registered under the Charities Act 2011 and is not liable to taxation on its income.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
25
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured.
Income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the claim.
Grants are recognised as income when all the terms attached to the grant are within the control of the charity.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold property | - | 10% straight line |
|---|---|---|
| Plant and machinery | - | 10% reducing balance |
| Fixtures and fittings | - | Over 21 years (the lease) |
| Equipment | - | 25% straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
26
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
27
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | 217,076 | 2,000 | 219,076 |
| ================================ | ======================= | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Donations | 390,824 | 10,464 | 401,288 |
| ================================ | ============================ | ================================ | |
| Charitable activities | |||
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Government grants | 57,273 | – | 57,273 |
| Admissions | 697,736 | – | 697,736 |
| Memberships | 37,004 | – | 37,004 |
| Grants | 728,102 | – | 728,102 |
| Education | 72,549 | – | 72,549 |
| Experiences and events | 53,216 | – | 53,216 |
| Other | 109,554 | – | 109,554 |
| ----------------------------------------- | -------------- | ----------------------------------------- | |
| 1,755,434 | – | 1,755,434 | |
| ========================================= | ============== | ========================================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Government grants | 101,786 | – | 101,786 |
| Admissions | 545,904 | – | 545,904 |
| Memberships | 38,125 | – | 38,125 |
| Grants | 27,000 | 162,814 | 189,814 |
| Education | 25,101 | – | 25,101 |
| Experiences and events | 37,291 | – | 37,291 |
| Other | 14,099 | – | 14,099 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 789,306 | 162,814 | 952,120 | |
| ================================ | ================================ | ================================ |
Donations
5. Charitable activities
6. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Restaurant sales | 288,941 | 288,941 | 151,624 | 151,624 |
| Retail sales | 96,408 | 96,408 | 53,733 | 53,733 |
| Weddings and events | 95,488 | 95,488 | 30,813 | 30,813 |
| Other income | 2,614 | 2,614 | 576 | 576 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 483,451 | 483,451 | 236,746 | 236,746 | |
| ================================ | ================================ | ================================ | ================================ |
28
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
7. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Bank interest | 268 | 268 | 191 | 191 |
| ============== | ============== | ============== | ============== |
8. Costs of raising donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Costs of raising funds | 25,411 | 25,411 | 10,799 | 10,799 |
| ============================ | ============================ | ============================ | ============================ |
Expenditure on raising funds for the year totalled £25,411 (2020: £10,799). None of this expenditure was restricted (2020: £Nil).
9. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Charitable expenditure | 1,259,089 | 7,641 | 1,266,730 |
| Trading activity expenditure | 383,331 | – | 383,331 |
| Support costs | 345,250 | – | 345,250 |
| ----------------------------------------- | ----------------------- | ----------------------------------------- | |
| 1,987,670 | 7,641 | 1,995,311 | |
| ========================================= | ======================= | ========================================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Charitable expenditure | 568,063 | 167,590 | 735,653 |
| Trading activity expenditure | 200,188 | – | 200,188 |
| Support costs | 206,812 | – | 206,812 |
| -------------------------------- | -------------------------------- | ----------------------------------------- | |
| 975,063 | 167,590 | 1,142,653 | |
| ================================ | ================================ | ========================================= |
10. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Charitable expenditure | 1,266,730 | 315,123 | 1,581,853 | 925,770 |
| Trading activity expenditure | 383,331 | 6,664 | 389,995 | 206,198 |
| Governance costs | – | 23,463 | 23,463 | 10,685 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | ----------------------------------------- | |
| 1,650,061 | 345,250 | 1,995,311 | 1,142,653 | |
| ========================================= | ================================ | ========================================= | ========================================= |
29
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
11. Analysis of support costs
| Analysis of | |||
|---|---|---|---|
| support costs | Total 2021 | Total 2020 | |
| £ | £ | £ | |
| Support staff costs | 230,087 | 230,087 | 190,117 |
| Office costs | 3,878 | 3,878 | 4,126 |
| Depreciation | 2,786 | 2,786 | 1,884 |
| Irrecoverable VAT | 84,036 | 84,036 | – |
| Legal and professional | 9,600 | 9,600 | 3,185 |
| Audit and accountancy | 13,863 | 13,863 | 7,500 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 345,250 | 345,250 | 206,812 | |
| ================================ | ================================ | ================================ |
12. Other expenditure
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Gain on disposal of tangible fixed assets | (2,097) | (2,097) |
– | – |
| ======================= | ======================= | ============== | ============== | |
| 13. Net income | ||||
| Net income is stated after charging/(crediting): | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 29,816 | 23,592 | ||
| Gains on disposal of tangible fixed assets | (2,097) | – | ||
| ============================ | ============================ | |||
| 14. Auditors remuneration | ||||
| 2021 | 2020 | |||
| £ | £ | |||
| Fees payable for the audit of the financial statements | 5,500 | 5,500 | ||
| Other non-audit services | 2,000 | 2,000 | ||
| ======================= | ======================= |
15. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 791,005 | 597,368 |
| Social security costs | 51,613 | 36,248 |
| Pension costs | 18,802 | 13,720 |
| Other staff costs | 16 | 49 |
| -------------------------------- | -------------------------------- | |
| 861,436 | 647,385 | |
| ================================ | ================================ |
The average head count of employees during the year was 48 (2020: 40).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
30
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
16. Trustee remuneration and expenses
The trustees were not reimbursed for expenses in the year (2020: £Nil) and did not receive any remuneration for their services as trustees during the year (2020: £Nil).
17a. Group tangible fixed assets
| Freehold | Plant and | ||||
|---|---|---|---|---|---|
| property | machinery | Eco-Perch | Equipment | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 January 2021 | 55,009 | 36,659 | 95,820 | 112,238 | 299,726 |
| Additions | – | 34,086 | – | 51,990 | 86,076 |
| Disposals | – | (682) | – | (25,412) | (26,094) |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| At 31 December 2021 | 55,009 | 70,063 | 95,820 | 138,816 | 359,708 |
| ============================ | ============================ | ============================ | ================================ | ================================ | |
| Depreciation | |||||
| At 1 January 2021 | 10,901 | 5,600 | 22,815 | 94,408 | 133,724 |
| Charge for the year | 5,501 | 5,647 | 4,791 | 13,877 | 29,816 |
| Disposals | – | (279) | – | (25,138) | (25,417) |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| At 31 December 2021 | 16,402 | 10,968 | 27,606 | 83,147 | 138,123 |
| ============================ | ============================ | ============================ | ================================ | ================================ | |
| Carrying amount | |||||
| At 31 December 2021 | 38,607 | 59,095 | 68,214 | 55,669 | 221,585 |
| ============================ | ============================ | ============================ | ================================ | ================================ | |
| At 31 December 2020 | 44,108 | 31,059 | 73,005 | 17,830 | 166,002 |
| ============================ | ============================ | ============================ | ================================ | ================================ |
17b. Charity tangible fixed assets
| Freehold | Plant and | Equipment | |||
|---|---|---|---|---|---|
| property | machinery | Eco-Perch | and furniture |
Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 January 2021 | 55,009 | 36,659 | 95,820 | 101,492 |
288,980 |
| Additions | – | 34,086 | – | 39,436 |
73,522 |
| Disposals | – | (682) | – | (25,412) |
(26,094) |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| At 31 December 2021 | 55,009 | 70,063 | 95,820 | 115,516 |
336,408 |
| ============================ | ============================ | ============================ | ================================ | ================================ | |
| Depreciation | |||||
| At 1 January 2021 | 10,901 | 5,600 | 22,815 | 91,786 |
131,102 |
| Charge for the year | 5,501 | 5,647 | 4,791 | 11,091 |
27,030 |
| Disposals | – | (279) | – | (25,138) |
(25,417) |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| At 31 December 2021 | 16,402 | 10,968 | 27,606 | 77,739 |
132,715 |
| ============================ | ============================ | ============================ | ================================ | ================================ | |
| Carrying amount | |||||
| At 31 December 2021 | 38,607 | 59,095 | 68,214 | 37,777 |
203,693 |
| ============================ | ============================ | ============================ | ================================ | ================================ | |
| At 31 December 2020 | 44,108 | 31,059 | 73,005 | 9,706 |
157,878 |
| ============================ | ============================ | ============================ | ================================ | ================================ |
31
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
18. Investment entities
Subsidiaries and other investments
| Percentage | ||
|---|---|---|
| of shares | ||
| Class of share | held | |
| Subsidiary undertakings | ||
| Dartmoor Zoo Enterprises Ltd | 2 Ordinary shares of £1 | 100 |
Dartmoor Zoo Enterprises Ltd is the wholly owned trading subsidiary of the charity. The company is incorporated in the UK, its company number is 09362054. The registered address is Dartmoor Zoological Park, Sparkwell, Plymouth, Devon, PL7 5DG.
The subsidiary’s financial statements have been consolidated with the charity’s for the year to 31 December 2021. In the year, the subsidiary received income of £490,075 (2020: £236,170) including £6,624 of government grants and incurred expenditure of £393,138 (2020: £208,122) which resulted in a profit of £96,937 (2020: £28,048). At the year-end date the subsidiary had reserves of £123,285 (2020: £26,348).
19. Stocks
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Finished goods and goods for resale | 27,646 | 24,785 |
| ============================ | ============================ |
Stock is only recognised in the trading subsidiary. No stock is held by the charity.
20. Group debtors
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 1,877 | 7,537 |
| Prepayments and accrued income | 39,705 | 96,263 |
| Social security and other taxes | – | 10,740 |
| Other debtors | 38 | – |
| ---------------------------- | -------------------------------- | |
| 41,620 | 114,540 | |
| ============================ | ================================ | |
| Charity debtors | ||
| 2021 | 2020 | |
| £ | £ | |
| Trade debtors | 1,877 | 7,537 |
| Prepayments and accrued income | 32,118 | 92,081 |
| Social security and other taxes | 6,231 | 10,740 |
| ---------------------------- | -------------------------------- | |
| 40,226 | 110,358 | |
| ============================ | ================================ |
20a. Charity debtors
32
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
21a. Group creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Trade creditors | – | 47,872 |
| Accruals and deferred income | 72,155 | 28,913 |
| Social security and other taxes | 63,690 | 13,590 |
| Related party loans | – | 105,796 |
| Related party prepayment | 13,792 | – |
| Obligations under finance leases and hire purchase contracts | 2,682 | 3,248 |
| Other creditors | 5,466 | 4,132 |
| -------------------------------- | -------------------------------- | |
| 157,785 | 203,551 | |
| ================================ | ================================ | |
| Charity creditors: amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Trade creditors | 25,098 | 39,235 |
| Accruals and deferred income | 52,902 | 12,132 |
| Social security and other taxes | 14,956 | 11,189 |
| Related party balances | 7,476 | 13,946 |
| Related party loans | – | 105,796 |
| Related party prepayment | 13,792 | – |
| Obligations under finance leases and hire purchase contracts | 2,682 | – |
| Other creditors | 5,466 | 4,132 |
| -------------------------------- | -------------------------------- | |
| 122,372 | 186,430 | |
| ================================ | ================================ | |
| Group creditors: amounts falling due after more than one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Bank loans and overdrafts | – | 145,000 |
| Obligations under finance leases and hire purchase contracts | 9,163 | – |
| ----------------------- | -------------------------------- | |
| 9,163 | 145,000 | |
| ======================= | ================================ |
21b. Charity creditors: amounts falling due within one year
22. Group creditors: amounts falling due after more than one year
There are no creditor amounts falling due after more than one year in the subsidiary accounts. All creditors due after one year relates to the charity.
23. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
| as follows: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Not later than 1 year | 2,682 | 3,248 |
| Later than 1 year and not later than 5 years | 9,163 | – |
| ---------------------------- | ----------------------- | |
| 11,845 | 3,248 | |
| ============================ | ======================= |
33
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
24. Operating lease commitments
At 31 December 2021, annual commitments under non-cancellable operating leases are as follows:
| follows: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Not later than 1 year | 63,900 | 66,858 |
| Later than 1 year and not later than 5 years | 255,600 | 256,112 |
| Later than 5 years | 575,100 | 639,000 |
| ----------------------------------------- | ----------------------------------------- | |
| 894,600 | 961,970 | |
| ========================================= | ========================================= |
25. Deferred income
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| At 1 January 2021 | 14,281 | 5,978 |
| Amount released to income | (14,281) | (5,978) |
| Amount deferred in year | 13,635 | 14,281 |
| ---------------------------- | ---------------------------- | |
| At 31 December 2021 | 13,635 | 14,281 |
| ============================ | ============================ |
26a. Group analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At 1 Jan 21 | Income | ExpenditureAt 31 Dec 21 | ||
| £ | £ | £ | £ | |
| General funds | 134,999 | 2,456,229 | (2,010,984) | 580,244 |
| ================================ | ========================================= | ========================================= | ================================ | |
| At 1 Jan 20 | Income | Expenditure At 31 Dec 20 | ||
| £ | £ | £ | £ | |
| General funds | (296,206) | 1,417,067 | (985,862) | 134,999 |
| ================================ | ========================================= | ================================ | ================================ | |
| Restricted funds | ||||
| At 1 Jan 21 | Income | ExpenditureAt 31 Dec 21 | ||
| £ | £ | £ | £ | |
| Eco-Perch | 73,005 | – | (4,791) | 68,214 |
| Drake Foundation | 10,464 | – | (2,850) | 7,614 |
| Other restricted funds | – | 2,000 | – | 2,000 |
| ---------------------------- | ----------------------- | ----------------------- | ---------------------------- | |
| 83,469 | 2,000 | (7,641) | 77,828 | |
| ============================ | ======================= | ======================= | ============================ | |
| At 1 Jan 20 | Income | Expenditure At 31 Dec 20 | ||
| £ | £ | £ | £ | |
| Eco-Perch | 77,568 | – | (4,563) | 73,005 |
| Drake Foundation | 213 | 173,278 | (163,027) | 10,464 |
| ---------------------------- | -------------------------------- | -------------------------------- | ---------------------------- | |
| 77,781 | 173,278 | (167,590) | 83,469 | |
| ============================ | ================================ | ================================ | ============================ |
34
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
26b. Charity analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At 1 Jan 21 | Income | ExpenditureAt 31 Dec 21 | ||
| £ | £ | £ | £ | |
| General funds | 108,651 | 2,066,155 | (1,617,847) | 556,959 |
| ================================ | ========================================= | ========================================= | ================================ | |
| At 1 Jan 20 | Income | Expenditure At 31 Dec 20 | ||
| £ | £ | £ | £ | |
| General funds | (294,506) | 1,180,322 | (777,165) | 108,651 |
| ================================ | ========================================= | ================================ | ================================ | |
| Restricted funds | ||||
| At 1 Jan 21 | Income | ExpenditureAt 31 Dec 21 | ||
| £ | £ | £ | £ | |
| Eco-Perch | 73,005 | – | (4,791) | 68,214 |
| Drake Foundation | 10,464 | – | (2,850) | 7,614 |
| Other restricted funds | – | 2,000 | 2,000 | |
| ---------------------------- | ----------------------- | ----------------------- | ---------------------------- | |
| 83,469 | 2,000 | (7,641) | 77,828 | |
| ============================ | ======================= | ======================= | ============================ | |
| At 1 Jan 20 | Income | Expenditure At 31 Dec 20 | ||
| £ | £ | £ | £ | |
| Eco-Perch | 77,568 | – | (4,563) | 73,005 |
| Drake Foundation | 213 | 173,278 | (163,027) | 10,464 |
| ---------------------------- | -------------------------------- | -------------------------------- | ---------------------------- | |
| 77,781 | 173,278 | (167,590) | 83,469 | |
| ============================ | ================================ | ================================ | ============================ |
Restricted funds include:
Income received from Plymouth University to fund the building of the Eco Perch. The Eco Perch is leased to Plymouth University and the fund is being depreciated in line with the lease over a period of 21 years. At the year end the fund balance is £68,214.
The Drake Foundation gave funds towards the Dartmoor Zoo Superkids Project. At the year end £7,614 of these funds are still available to use.
27. Group analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 153,371 | 68,214 | 221,585 |
| Current assets | 593,821 | 9,614 | 603,435 |
| Creditors less than 1 year | (157,785) | – | (157,785) |
| Creditors greater than 1 year | (9,163) | – | (9,163) |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| Net assets | 580,244 | 77,828 | 658,072 |
| ================================ | ============================ | ================================ |
27. Group analysis of net assets between funds(continued)
35
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Tangible fixed assets | 92,997 | 73,005 | 166,002 |
| Current assets | 390,553 | 10,464 | 401,017 |
| Creditors less than 1 year | (203,551) | – | (203,551) |
| Creditors greater than 1 year | (145,000) | – | (145,000) |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| Net assets | 134,999 | 83,469 | 218,468 |
| ================================ | ============================ | ================================ | |
| Analysis of changes in net debt | |||
| At | At | ||
| 1 Jan 2021 | Cash flows | 31 Dec 2021 | |
| £ | £ | £ | |
| Cash at bank and in hand | 261,692 | 272,477 | 534,169 |
| Debt due within one year | (109,044) | 92,570 | (16,474) |
| Debt due after one year | (145,000) | 135,837 | (9,163) |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 7,648 | 500,884 | 508,532 | |
| ================================ | ================================ | ================================ |
28. Analysis of changes in net debt
29. Related parties
All trustees and their immediate family automatically get free entry to the zoo.
Benjamin Mee (Trustee and CEO)
The freehold land, known as Dartmoor Zoological Park, is owned by Benjamin Mee and the Executors of Mrs Amelia Mee. The charity has a 20-year lease with Benjamin Mee and the Executors of Mrs Amelia Mee. The total rent charged in the year amounts to £63,900 (2020: £63,900).
At the year end, the charity owed Benjamin Mee £13,792 (2020: £250,796). There were no advances of the loan in the year and balances totalling £237,004 were paid back. This included a stand-alone loan of £145,000 which was paid back in full on 1 October 2021. The remaining funds are a prepayment against certain expenses incurred by the charity which are shared with Mr Mee as the Charity’s landlord. The terms of the prepayment are interest free and will be set off against expenses as incurred.
Benjamin James (Trustee)
Benjamin James has provided both pro bono and paid for legal services to the Charity over the course of the year.
Along with all the other Trustees who serve for three years or more, Benjamin has a free lifetime membership to the zoo.
Simon Almond (Trustee)
Simon Almond is a director of a refuse collection company which provides free refuse collection at the zoo.
36
DocuSign Envelope ID: D0E09333-4DB8-4AEB-8C5D-C16CE37EF885
Dartmoor Zoological Society
Notes to the Financial Statements (continued)
Year ended 31 December 2021
Dartmoor Zoo Enterprises Limited
The wholly owned subsidiary, detailed in note 18, has been granted by the charity an informal license of part of the property at Dartmoor Zoological Park. A sub-lease is not required and the terms of occupation are clear between the group companies. No rent has been charged in the year (2020: £Nil). The charity currently owes the subsidiary £7,476 (2020: £13,946) for transactions paid on behalf of the charity. The loan is interest free and has no repayment terms. The subsidiary has donated their year-end profits to the charity throughout the reporting period to manage cashflow, donating £100,000 in total, meeting the requirement for year-end profits of the subsidiary to be donated to the parent within 9 months of the year end.
Dartmoor Zoological Society – company number 10606514
On the 7 February 2017 a company limited by guarantee was incorporated with the name Dartmoor Zoological Society. Two of the trustees of the charity are directors of the company. The company is dormant. It is intended that the company will replace the charity once it is registered as a charity.
37