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← Dartmoor Zoological Society

2023-12-31-accounts

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Company registration number: 10606514 Charity registration number: 1158422

Dartmoor Zoological Society

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2023

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 15
Independent Auditors' Report 16 to 19
Consolidated Statement of Financial Activities 20
Consolidated Balance Sheet 21
Balance Sheet 22
Consolidated Statement of Cash Flows 23
Notes to the Financial Statements 24 to 41

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Dartmoor Zoological Society

Reference and Administrative Details

Chairperson Mr Benjamin James
Trustees Mr Benjamin James
Mr Benjamin Mee
Mr Douglas Richardson
Mr Simon Almond
Mr James Ross
Senior Management / David Gibson, Chief Executive Officer
Leadership Team Clare Lee, Head of Compliance
Duncan Wadey, Head of Finance
Alyn Price, Director of Commercial Operations
Joanna Clark, Head of Education and Research
Charity Registration Number 1158422
Company Registration Number 10606514
Registered Office Dartmoor Zoological Park
Sparkwell
Plymouth
Devon
PL7 5DG
Auditor Westcotts (SW) LLP
Chartered Accountants
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT
Solicitors McCarthy Denning
Minster House
70 Mark Lane
London
EC3R 7NQ
Bankers Santander
Bridle Road
Bootle
Merseyside
L30 4GB
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

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Dartmoor Zoological Society

Trustees' Report

The trustees of Dartmoor Zoological Society (the Charity or the Zoo) present their annual report and consolidated financial statements for the year to 31 December 2023. 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:

While planning the future direction of the Charity, the trustees have had regard to the Charity Commission’s guidance on public benefit.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievements and performance

Overview

This has been a complicated year for the Charity and the Zoo. We saw strong visitor numbers and a number of enhancements to the collection, but also had to deal with rapidly rising costs and the need to invest in various parts of the estate. The income did not cover the costs incurred and we had to dip into reserves to ensure that the necessary investment was undertaken in both people and the estate.

However, we were able to manage the Charity’s financial affairs in such as way as to ensure that we continued to invest in essential infrastructure. Improvements included:

• the refurbishment of a number of enclosures; and;

• the refurbishment of the employee shower suite, thanks to grant funding.

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Dartmoor Zoological Society

Trustees' Report

We also continued with our rolling maintenance programme to ensure that the Park remained safe and secure. Updating various fencing posts and ensuring the security of the Park is a licensing requirement, which we take very seriously.

We continued to consolidate 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 on our fundraising capability, however, the film can still result in a perception that the zoo is privately owned and does not require public financial support.

In 2023 the education team was strengthened by the arrival of Joanna Clark as head of education. This continued our commitment to educating both adults and children about the animals in our care and conservation throughout the world.

Animal developments

We continued to expand the collection in 2023 both through transfers and a number of births throughout the Zoo. This has allowed us to not only maintain our collection, but make transfers to other zoos to ensure that continued representation of these species in zoos throughout the UK and Europe.

We finally were able to complete our acquisition of a male Amur Leopard. He joined us in November, his new enclosure having been completed earlier in the year. He came to us with a breeding recommendation so once he was settled into his new home, we commenced the build of a cubbing enclosure for a female Amur Leopard which we hope will join him in 2024.

We were also excited to welcome, a male Binturong - newshounds may have seen that we had some difficulty in keeping him in his enclosure. However, he is now settled in and even if you cannot see him, by the subtle smell of popcorn he will be able to tell you he is close.

The trustees are committed to enhancing the protection of vulnerable British wildlife and this year saw the acquisition of the Common Adder. This is the UK’s largest venomous animal and is critically endangered in the UK, while common in the rest of Europe.

Other additions have been:

We have been working to increase the number of animals born in the Zoo. Over 2023, our:

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Dartmoor Zoological Society

Trustees' Report

We transferred a number of animals to other collections, including:

We have been working to ensure that the collection is much younger and this has resulted in many less deaths from aging. However, in 2023 we still lost a number of our animal friends, these included: • a Black and White Tegu;

Our ethics procedures continued to work well and all matters were appropriately settled. No appeals were made to the ethics recommendations during the year.

Education, research and learning

We undertook a refresh of our education delivery in 2023 to update the materials introduced during the pandemic for online learning. This was to cover both the move back to in person sessions and visits along with an enhanced online presence.

We have added to the information which visitors can download at each exhibit and ensured that there have been multiple new learning opportunities around the Zoo.

The team continued to provide in person and virtual educational 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 zoos ,are a cause for concern. Their 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 animal based outreach programmes.

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Dartmoor Zoological Society

Trustees' Report

Overall we provided educational services to 5,373 students in person from 84 schools and 363 students attended virtual learning from 9 schools as Outreach Sessions.

Education income continued to improve this year and we are delighted with the number of education visits that we receive. This was especially gratifying as another zoo close to us provided free education visits to celebrate its centenary year.

After not being able to welcome many research students due to the pandemic, we again opened our doors to research projects for university under and postgraduates. Research projects included: • Gelada - nutrient intake and behaviour and the impact of variety feeds and single item feeds;

Other significant leadership developments

There were a number of changes in the management of the Charity. Having worked with the Charity for a number of years in education and research and then as our Chief Operating Officer, Coral Jonas, left to pursue new opportunities. Our Head of Finance, Debs McIver also left the Charity after a short spell to take on her perfect job working with trains. Scott Chambers, the Director of Animals also left the Charity.

We took this opportunity to restructure and recruited Dr David Gibson as Chief Executive and he also took direct control of the animal team.

David graduated with a PhD from Stirling University in 1994 and secured a role at the recently built “Deep Sea World” near Edinburgh, Scotland. This was the beginning of a 30-year career that saw him involved in some of the highest profile Public Aquarium projects in the UK including “The Blue Planet, “The Deep” and latterly the National Marine Aquarium. David also spent time as Executive Director at Fota Wildlife Park in the Republic of Ireland and has run his own Zoo and Aquarium Consultancy. This experience was recognised when David was appointed as a DEFRA Zoo Inspector in 2021.

We also recruited a new Head of Finance, Duncan Wadey. Duncan has over thirty years’ experience in accounting and business planning. Originally qualifying as a Chartered Accountant in public practice, he subsequently worked in industry, with businesses as diverse as the motor trade, metal alloy trading and milk bottle top and toothpaste production. For the last ten years he has worked in the higher education sector as a Business Manager and Head of Finance within a university.

Both took up their positions early in 2024.

We manage the Charity’s collection using ZIMS. Currently paper records are kept which are transferred to ZIMS as and when time is available. During 2023 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. We believe that this will free up keeper time and ensure that all records are kept up to date. This was not completed in 2023 and as part of our restructuring we recruited a Zoo Registrar in 2024.

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Dartmoor Zoological Society

Trustees' Report

Site development

The main developments in 2023 related to the delivery of the Amur Leopard habitat and maintaining our big cat habitats. This along with the creation of a Binturong habitat took most of the development time through the year.

The expansion of the bird-flu restrictions also required the development of cover for our aviaries and creating space for the free roaming birds to shelter in a safe environment. The new animals were generally housed in mixed habitats.

The education team also moved to a new office and the development of the enhanced employee facilities were a welcome addition.

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. A small number of trees did fall over the Zoo during our various storms, but this did not create any safety issues.

Catering, retail and events

The increase in visitor numbers resulted in a strong performance from the retail and catering team. We again saw an increased spend per head, without having to increase the costs of our delivery. Again, this showed the considerable work to develop menus and related activities had worked well. However, the surplus was £13,359 (2022: £44,248) which was a small contribution to the Charity.

We continue to aim to ensure we use 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 again, the coffee bar was popular with all age groups. The kiosks were running almost to capacity and the children’s play areas were well used.

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 fourth Christmas Light events, known as Zooluminate.

The number of wedding bookings increased and we redeveloped our wedding offering in 2023. Bookings for 2024 are already strong with our aim of having a smaller number of larger weddings being realised.

The 2023 full review of the trading company accounts continued to show improvements and the trading company continued to provide a surplus which was paid to the Charity.

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Dartmoor Zoological Society

Trustees' Report

Wellbeing

Our wellbeing programmes are very important to the Charity and comprise:

The Wellness Through Nature programme is continuing to build 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 510 hours’ hard work from 8 groups and with that we have organically weeded and trimmed, edged and tended with people who are usually office-based.

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 grounds-keeping 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 2023 with financial donations, donations in kind and blood, sweat and smiles: • Devon Contract Waste - Free “Zero to Landfill” refuse collection, and their unwavering support. • Air Improve Ltd - Free servicing and repairs of our air conditioner in the Jaguar restaurant.

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Dartmoor Zoological Society

Trustees' Report

Financial review

The consolidated balance sheet showed a reduction for the year of £93,115 (2022: £118,984). This is a second slight slip backwards after such the strong showing in 2021. This is as a result of capitalised investment and the Charity running at a deficit, which was much reduced on 2022.

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 2021 allowed us to continue to improve efficiency, whilst also improving the range of goods sold in the shop. We were pleased that the trading income remained positive and expect this positive position to continue noting the difficulties of the cost-of-living crisis and inflation. Whilst there was an increase in trading income in 2023 to £659,365 (2022: £576,347) costs increased dramatically to £642,521 (2022: £528,868). Where possible we sought not to pass cost increases to our guests, but this is not possible in the long term.

There was an increase in income of £89,189 (2022 decrease of £90,583) in income with a significant increase in costs due to inflation. Overall income was £1,867,714 (2022: £1,778,525) meaning income has not recovered to 2021 levels yet. Costs in 2023 increased to £1,960,829 (2022: £1,899,431). Fundraising income was not maintained, mainly due to grants not being available and individual donations decreasing.

Having significantly reduced our debt in 2021 we remain in a strong position to weather this difficulty in decreasing income and increasing costs. However, we are actively planning changes so that the income position improves.

Wedding and event income increased and interest in wedding bookings for 2024 and 2025 continued to increase and we are expecting to undertake many more weddings than in the past. Wedding and event income increased by over £40,000. Education income also continued to increase.

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. Team building and other corporate events are planned and will also increase revenue.

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Dartmoor Zoological Society

Trustees' Report

The trustees are very pleased with the work that has been undertaken by key team members to increase the value of the animals within the team which is encouraging more and more people to visit. This has allowed both an increase in paid memberships and many others returning to the zoo on a more regular basis.

Cash flow is no longer difficult to manage, our cash flow 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 2023 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. We have implemented regular reviews due to the deficit to ensure that we do not run out of cash, however, this has not been a problem to date.

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 in a number of areas 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 which have not been reported elsewhere.

There is a clear income stream to ensure that the Charity is clearly viable to December 2025 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:

• visitor numbers again increased in nine month over the previous year;

• income from all areas of the Charity and trading company has increased;

• the changes made have had a positive impact on financial stability;

• costs are carefully controlled;

• research has shown that there is considerable scope for fundraising and the development of fundraising will allow the charity to break even, repay debt and develop reserves along with allowing development of the site and the collection.

We have dipped into our reserves, however, they still show a level which is significantly greater than those we have held in the past. It is expected that these will be replenished over the summer of 2024 and that the Charity will have increased reserves at the end of 2024.

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Dartmoor Zoological Society

Trustees' Report

Social impact

The social impact of the work of the Charity is massive and includes: • creating an awareness in all of those who visit the Charity about the impact on the planet of a reduction in animal life;

• creating an awareness of animals which are endangered and at risk; • improving the lives of the “Superkids” whose troubled behaviour can be improved by spending time with the Charity;

• improving the lives of veterans suffering from a range of illness and who are engaged in rehabilitation;

• creating a place for people to visit and experience relaxation and learning development; • 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 the future

Heading into 2024, we have a number of plans to develop the site and the animal experience. Key plans are:

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Trustees' Report

Fundraising statement

The Charity is registered with the Fundraising Regulator and undertakes all its fundraising in accordance with the Code of Fundraising Practice.

We have undertaken a monthly fundraising campaign in 2023, 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.

Our CEO has taken charge of fundraising and he is responsible for managing future fundraising campaigns.

We have not received any complaints in 2023 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.

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Trustees' Report

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 that by revitalising the collection we have increased the number of visitors and we expect this to continue with our current plans.

The additional major risks that we face are:

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 we are facing. A new plan is In development. 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 2023 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 2024.

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 3 months of expenditure (2023: 3).

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 2023, a cash reserve of £200,000 had been developed, meaning that the trustees have not reached their reserves policy aim by 2023, it is expected that this will now take to 2028. Overall, the Trustees will ensure that they always have £100,000 in cash assets, as the zoo would not be viable without maintaining cash assets at this level.

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Dartmoor Zoological Society

Trustees' Report

Related and connected parties

A summary of transactions occurring during the year ended 31 December 2023 between related parties is shown in note 26 of the financial statements.

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 2023, we received support from 63 (2022: 26) volunteers delivering at least 6,923 hours (2022: 5,257) which is a significant number of hours of volunteer time. This was provided as 900 hours of voluntary keeper time and 5,677 of education and discovery time and 346 of other volunteering time including, but not limited to maintenance and administration. The volunteers have assisted in a wide variety of ways, including:

• maintenance;

• providing educational support to the visitors and undertaking a large number of daily talks and seminars;

• administration;

• animal care.

Volunteer hours dropped significantly in 2022 due to a change in the structure of the animal department. This was increased in 2023. It is hoped that volunteer hours will increase again in 2024. We work closely with the charity Grow 4 Good South West Limited (G4G). The G4G Volunteers and Staff have provided approximately 702 (2022: 800) hours of volunteer time within the grounds. This was increased by 40 hours of voluntary time from Coop Corporate Group.

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.

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Trustees' Report

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.

Benjamin Mee stepped down as the CEO in 2023 and remains as a trustee.

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 for their commitment in assisting the Charity over another complicated year.

Statement of trustees' responsibilities

The trustees (who are also the directors of Dartmoor Zoological Society for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the parent charitable company and the group and of the incoming resources and application of resources, including its income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the parent charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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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 charity'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.

14 August 2024 The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... Mr Benjamin James Chairperson

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Independent Auditor's Report to the Members of Dartmoor Zoological Society

Opinion

We have audited the financial statements of Dartmoor Zoological Society (the 'charitable parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023, which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Dartmoor Zoological Society

Independent Auditor's Report to the Members of Dartmoor Zoological Society

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.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the and the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of trustees' responsibilities, 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 charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor 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.

Page 17

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Independent Auditor's Report to the Members of Dartmoor Zoological Society

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Page 18

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Independent Auditor's Report to the Members of Dartmoor Zoological Society

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 charitable parent company's trustees, 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's trustees 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 charitable parent company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Adam Croney ACA (Senior Statutory Auditor) For and on behalf of Westcotts (SW) LLP, Statutory Auditor

Plym House 3 Longbridge Road Marsh Mills Plymouth Devon PL6 8LT 10 September 2024 Date:.............................

Page 19

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Consolidated Statement of Financial Activities for the Year Ended 31 December 2023

(Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Costs of trading activities
9
Total expenditure
Net expenditure
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
23		 Unrestricted
funds
£
148,252
1,048,783
659,365
11,314
1,867,714
(49,025)
(1,256,032)
(642,521)
(1,947,578)
(79,864)
21,965
(57,899)
421,955
364,056		 Restricted
funds
£
-
-
-
-
-
(880)
(12,371)
-
(13,251)
(13,251)
(21,965)
(35,216)
93,848
58,632		 Total
2023
£
148,252
1,048,783
659,365
11,314
1,867,714
(49,905)
(1,268,403)
(642,521)
(1,960,829)
(93,115)
-
(93,115)
515,803
422,688		 Total
2022
£ (As
restated)
188,630
1,010,727
576,347
2,821
1,778,525
(33,158)
(1,337,405)
(528,868)
(1,899,431)
(120,906)
-
(120,906)
636,709
515,803

All of the group's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 23.

The notes on pages 24 to 41 form an integral part of these financial statements. Page 20

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

(Registration number: 10606514) Consolidated Balance Sheet as at 31 December 2023

Note
Fixed assets
Tangible assets
16
Current assets
Stocks
18
Debtors
19
Cash at bank and in hand
Creditors: Amounts falling due within one year
20
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
21
Net assets
Funds of the group:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
23		 2023
£
319,118
41,303
52,502
320,236
414,041
(306,671)
107,370
426,488
(3,800)
422,688
58,632
364,056
422,688		 2022
£ (As
restated)
332,424
46,209
70,251
294,451
410,911
(221,050)
189,861
522,285
(6,482)
515,803
93,848
421,955
515,803

The financial statements on pages 20 to 41 were approved by the trustees, and authorised for issue on .................... 14 August 2024 and signed on their behalf by:

......................................... Mr Benjamin James Chairman and trustee

The notes on pages 24 to 41 form an integral part of these financial statements. Page 21

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

(Registration number: 10606514) Balance Sheet as at 31 December 2023

Note
Fixed assets
Tangible assets
16
Investments
Current assets
Debtors
19
Cash at bank and in hand
Creditors: Amounts falling due within one year
20
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
21
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
23		 2023
£
301,867
2
301,869
50,239
317,606
367,845
(268,172)
99,673
401,542
(3,800)
397,742
58,632
339,110
397,742		 2022
£ (As
restated)
311,455
2
311,457
41,641
286,196
327,837
(145,644)
182,193
493,650
(6,482)
487,168
93,848
393,320
487,168

No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity had a net movement in funds for the financial year of £82,985 (2022: (£127,016)).

The financial statements on pages 20 to 41 were approved by the trustees, and authorised for issue on .................... 14 August 2024 and signed on their behalf by:

......................................... Mr Benjamin James Chairman and trustee

The notes on pages 24 to 41 form an integral part of these financial statements. Page 22

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Consolidated Statement of Cash Flows for the Year Ended 31 December 2023

Note
Cash flows from operating activities
Net cash expenditure
Adjustments to cash flows from non-cash items
Depreciation
16, 11
Investment income
6
Working capital adjustments
Decrease/(increase) in stocks
18
Decrease/(increase) in debtors
19
Increase in creditors
20
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
6
Purchase of tangible fixed assets
16
Net cash flows from investing activities
Cash flows from financing activities
Repayment of borrowings
20
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December		 2023
£
(93,115)
50,394
(11,314)
(54,035)
4,906
17,749
86,742
55,362
11,314
(37,088)
(25,774)
(3,803)
25,785
294,451
320,236		 2022
£ (As
restated)
(120,906)
38,972
(2,821)
(84,755)
(18,562)
(28,631)
49,220
(82,728)
2,821
(149,811)
(146,990)
(10,000)
(239,718)
534,169
294,451

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 24 to 41 form an integral part of these financial statements. Page 23

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.

The address of its registered office is: Dartmoor Zoological Park Sparkwell Plymouth Devon PL7 5DG

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Dartmoor Zoological Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 31 December 2023.

No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a loss after tax for the financial year of £89,426 (2022 - loss of £126,256).

A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

Inter-company transactions, balances and unrealised gains on transactions between the charity and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Page 24

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

Going concern

The trustees consider that there are no material uncertainties about the group's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the group.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

-The donor specifies that the grant or donation must only be used in future accounting periods; or -The donor has imposed conditions which must be met before the charity has unconditional entitlement.

Gift aid

Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Page 25

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed 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 and amortisation

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:

Asset class Depreciation method and rate
Leasehold improvements 10% straight line
Plant and machinery 10% reducing balance
Eco-Perch Over 21 years (the lease)
Equipment 25% straight line

Fixed asset investments

Fixed asset investments consist of shares in subsidiary undertakings held by the charity, these are accounted for at cost less any impairment to date.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the group.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Page 26

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

Hire purchase and finance leases

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.

Financial instruments

Recognition and measurement

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.

3 Income from donations and legacies

Donations
Other fundraising income		 Unrestricted
funds
General
£
102,338
45,914
148,252		 Total
2023
£
102,338
45,914
148,252		 Total
2022
£
188,630
-
188,630

Page 27

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

4 Income from charitable activities

Grants
Admissions
Memberships
Education
Experiences and events
Other income
Grants
Admissions
Memberships
Education
Experiences and events
Other income
5
Income from other trading activities
Restaurant sales
Retail sales
Other trading income
Weddings and events
6
Investment income
Bank Interest		 Unrestricted
funds
General
£
19,114
636,860
41,082
100,610
91,115
32,124
920,905
Unrestricted
funds
General
£
382,388
125,227
11,371
140,379
659,365
Unrestricted
funds
General
£
11,314		 Unrestricted
funds
General
£
7,206
759,497
43,112
122,235
98,870
17,863
1,048,783
Restricted
funds
£
89,822
-
-
-
-
-
89,822
Total
2023
£
382,388
125,227
11,371
140,379
659,365
Total
2023
£
11,314		 Total
2023
£
7,206
759,497
43,112
122,235
98,870
17,863
1,048,783
Total
2022
£
108,936
636,860
41,082
100,610
91,115
32,124
1,010,727
Total
2022
£
365,998
108,312
3,458
98,579
576,347
Total
2022
£
2,821

Page 28

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

7 Dartmoor Zoo Enterprises

Dartmoor Zoo Enterprises Limited is a trading subsidiary of the charity, audited accounts are filed with the Registrar of Companies. A summary of the trading results is shown below:

Turnover
Cost of sales
Gross profit
Administrative expenses
Operating profit
Interest payable
Profit before tax
Assets
Liabilities
Capital
Reserves		 2023
£
659,365
(345,194)
314,171
(300,523)
13,648
(289)
13,359
2023
£
155,902
(130,954)
24,948
2023
£
2
24,946
24,948		 2022
£
576,347
(277,295)
299,052
(254,804)
44,248
-
44,248
2022
£
108,468
(79,831)
28,637
2022
£
2
28,635
28,637

8 Expenditure on raising funds

Marketing and publicity
Other costs of raising funds		 Unrestricted
funds
General
£
38,588
10,437
49,025		 Restricted
funds
£
880
-
880		 Total
2023
£
39,468
10,437
49,905		 Total
2022
£
33,158
-
33,158

Page 29

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

9 Expenditure on charitable and trading activities

Expenditure by fund type

Charitable activities
Trading subsidiary costs
Support costs
Charitable activities
Trading subsidiary costs
Support costs
Expenditure by activity type
Charitable expenditure
Trading expenditure
Governance costs		 Note
7
10
Note
7
10
Activity
undertaken
directly
£
1,206,184
638,223
-
1,844,407		 Unrestricted
funds
General
£
917,336
638,223
342,994
1,898,553
Unrestricted
funds
General
£
900,336
520,496
373,639
1,794,471
Activity
support
costs
£
39,844
4,299
22,374
66,517		 Restricted
funds
£
12,371
-
-
12,371
Restricted
funds
£
71,802
-
-
71,802
2023
£
1,246,028
642,522
22,374
1,910,924		 Total
2023
£
929,707
638,223
342,994
1,910,924
Total
2022
£
972,138
520,496
373,639
1,866,273
2022
£
1,309,164
528,868
28,241
1,866,273

Page 30

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

10 Analysis of governance and support costs

Staff costs
Premises
General office
Bank charges
Irrecoverable VAT
Governance costs
11 Net incoming/outgoing resources
Net outgoing resources for the year include:
Depreciation
12 Staff costs
The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
Other staff costs		 Unrestricted
funds
General
£
282,439
4,298
3,632
1,489
28,762
22,374
342,994		 Total
2023
£
282,439
4,298
3,632
1,489
28,762
22,374
342,994
2023
£
50,394
2023
£
903,399
64,476
21,439
5,989
995,303		 Total
2022
£
293,039
4,496
3,876
-
43,987
28,241
373,639
2022
£
38,972
2022
£
947,216
71,572
23,662
5,118
1,047,568

Page 31

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

The monthly average number of persons (including senior management / leadership team) employed by the group during the year expressed as full time equivalents was as follows:

2023 2022
No No
Total 54 59

No employee received emoluments of more than £60,000 during the year.

All pension liabilities and expenditure incurred were in relation to defined contribution schemes and utilised unrestricted funds.

13 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the group during the year.

No trustees have received any reimbursed expenses from the charity during the year.

14 Auditors' remuneration

2023 2022
£ £
Audit of the financial statements 6,000 6,000
Other fees paid to auditors 8,138 6,921

15 Taxation

The group is a registered charity and is therefore exempt from taxation.

Page 32

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

16 Tangible fixed assets

Group

Leasehold
improvements
£
Cost
At 1 January 2023
158,687
Additions
34,441
At 31 December 2023
193,128
Depreciation
At 1 January 2023
22,748
Charge for the year
15,699
At 31 December 2023
38,447
Net book value
At 31 December 2023
154,681
At 31 December 2022
135,939
Charity
Leasehold
improvements
£
Cost
At 1 January 2023
158,688
Additions
34,441
At 31 December 2023
193,129
Depreciation
At 1 January 2023
22,748
Charge for the year
15,700
At 31 December 2023
38,448
Net book value
At 31 December 2023
154,681
At 31 December 2022
135,940		 Plant and
Machinery
£
80,308
-
80,308
17,263
6,305
23,568
56,740
63,045
Plant and
Machinery
£
80,308
-
80,308
17,263
6,305
23,568
56,740
63,045		 Eco-Perch
£
95,820
-
95,820
32,397
4,791
37,188
58,632
63,423
Eco-Perch
£
95,820
-
95,820
32,397
4,791
37,188
58,632
63,423		 Equipment
£
174,704
2,647
177,351
104,687
23,599
128,286
49,065
70,017
Equipment
£
143,830
2,068
145,898
94,783
19,301
114,084
31,814
49,047		 Total
£
509,519
37,088
546,607
177,095
50,394
227,489
319,118
332,424
Total
£
478,646
36,509
515,155
167,191
46,097
213,288
301,867
311,455

Page 33

Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

17 Fixed asset investments

Charity

Shares in group undertakings and participating interests

Cost
At 1 January 2023
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Subsidiary
undertakings
£
2
2
2
2		 Total
£
2
2
2
2

Details of undertakings

Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:

Country of Proportion of voting Proportion of voting Principal
Undertaking incorporation Holding rights and shares held activity
2023 2022
Subsidiary undertakings
Providing
catering,
Dartmoor Zoo
Enterprises		 England and
Wales		 Ordinary 100% 100% retail,
and
weddings at
Dartmoor
Zoo

The registered address of Dartmoor Zoo Enterprises is the same as Dartmoor Zoological Society.

18 Stock

Finished goods Group
2023
£
2022
£
41,303
46,209		 Charity
2023
£
2022
£
-
-

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Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

19 Debtors

19 Debtors
Group
2023
£
2022
£
Trade debtors
13,218
40,772
Due from group undertakings
-
-
Prepayments
39,058
29,383
VAT recoverable
-
-
Other debtors
226
96
52,502
70,251
20 Creditors: amounts falling due within one year
Group
2023
£
2022
£ (As
restated)
Trade creditors
67,955
40,240
Accruals and deferred income
191,336
150,015
Hire purchase and finance
leases
2,682
3,803
Due to group undertakings
-
-
Other taxation and social
security
31,450
16,263
Other creditors
13,248
10,729
306,671
221,050
Deferred income
Group
Deferred income at 1 January 2023
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 Charity
2023
£
2022
£
11,997
16,772
-
2,037
35,462
20,445
2,780
2,387
-
-
50,239
41,641
Charity
2023
£
2022
£ (As
restated)
44,289
12,188
101,711
106,492
2,682
2,682
89,675
-
16,631
13,553
13,184
10,729
268,172
145,644
2023
£
2022
£ (As
restated)
117,800
34,998
105,361
117,800
(86,140)
(34,998)
137,021
117,800
145,644
2022
£ (As
restated)
34,998
117,800
(34,998)
117,800

Deferred income in the group is recognised in respect of admissions, memberships, experiences, weddings and other events paid for in advance.

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Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

Company
Deferred income at 1 January 2023
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2023
£
89,208
61,845
(73,070)
77,983		 2022
£ (As
restated)
34,998
89,208
(34,998)
89,208

Deferred income in the charity is recognised in respect of admissions, memberships, experiences, and events paid for in advance.

21 Creditors: amounts falling due after one year

Group Charity
2023 2022 2023 2022
£ £ £ £
Hire purchase and finance
leases 3,800 6,482 3,800 6,482

22 Obligations under leases

The total value of future minimum lease payments was as follows:

Within one year
In two to five years		 Group
2023
£
2022
£
3,038
3,803
4,303
6,482
7,341
10,285		 Charity
2023
£
2022
£
3,038
3,038
4,303
6,482
7,341
9,520		 Charity
2023
£
2022
£
3,038
3,038
4,303
6,482
7,341
9,520
9,520

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Other
Within one year
Between one and five years
After five years		 Group
2023
£
2022
£
64,300
64,428
256,100
255,600
447,300
511,200
767,700
831,228		 Charity
2023
£
2022
£
64,300
64,428
256,100
255,600
447,300
511,200
767,700
831,228		 Charity
2023
£
2022
£
64,300
64,428
256,100
255,600
447,300
511,200
767,700
831,228
831,228

In the year payments relating to operating leases of £64,428 were recognised as expenditure (2022: £64,604). This mostly relates to the lease of the Zoo as described in note 26, related party transactions.

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Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

23 Funds

Group

Group
Unrestricted funds
General Funds
Restricted funds
Eco-Perch
South Hams Business
Networking
Armed Forces Veterans
Grant
Travel To Work Grant
Total funds
Unrestricted funds
General Funds
Restricted funds
Eco-Perch
Drakes Foundation
Other restricted funds
Kickstarters
South Hams Business
Networking
Armed Forces Veterans
Grant
Travel To Work Grant
Total funds		 Balance at
1 January
2023
£
421,955
63,423
2,941
3,775
23,709
93,848
515,803
Balance at
1 January
2022
£
558,881
68,214
7,614
2,000
-
-
-
-
77,828
636,709		 Incoming
resources
£
1,867,714
-
-
-
-
-
1,867,714
Incoming
resources
£
1,688,703
-
-
-
49,870
6,582
9,462
23,908
89,822
1,778,525		 Resources
expended
£
(1,947,578)
(4,791)
(2,618)
(3,451)
(2,391)
(13,251)
(1,960,829)
Resources
expended
£
(1,827,629)
(4,791)
(7,614)
-
(49,870)
(3,641)
(5,687)
(199)
(71,802)
(1,899,431)		 Transfers
£
21,965
-
(323)
(324)
(21,318)
(21,965)
-
Transfers
£
2,000
-
-
(2,000)
-
-
-
-
(2,000)
-		 Balance at
31
December
2023
£
364,056
58,632
-
-
-
58,632
422,688
Balance at
31
December
2022
£
421,955
63,423
-
-
-
2,941
3,775
23,709
93,848
515,803

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Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

The specific purposes for which the funds are to be applied are as follows:

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.

The Drake Foundation gave funds towards the Dartmoor Zoo Superkids Project. At the year end all of these funds had been utilised.

Other restricted grants was money received from the Building Forum, which was subsequently noted to be unrestricted.

Funding has been received from Kickstarters to fund staff costs for employing people to develop their skills.

South Hams Business Networking is Funding from SHDC enabled DZS to offer free monthly Breakfast Networking events to local businesses, traders and not for profit organisations.

Armed Forces Veterans Grant is used to support veterans to improve their physical and mental health through the benefits of engaging with or being surrounded by animals and nature. Skills, education and social interactions are facilitated in an unconventional format which works extremely well for people who struggle with mainstream processes and social pressures.

The travel to work grant has been used towards building a new washroom, this has now been transfered to an unrestricted fixed asset and is depreciated over 10 years as is the policy for improvements to leasehold property.

Computer equipment was purchased in 2022 as apart of South Hams Business Networking and Armed Forces Veterans Grant funds, these projects were completed in 2023 and so the net book value of the assets held for these has been transferred to unrestricted reserves as these assets are now freely held by Dartmoor Zoological Society.

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Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

24 Analysis of net assets between funds

Group

Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
25 Analysis of net funds
Group
Cash at bank and in hand
Debt due within one year
Debt due after more than one year
Net debt		 Unrestricted
funds
General
£
239,168
414,041
(306,671)
(3,800)
342,738
Unrestricted
funds
General
£
244,358
405,129
(221,050)
(6,482)
421,955
At 1 January
2023
£
294,451
(9,156)
(6,482)
278,813		 Restricted
funds
£
79,950
-
-
-
79,950
Restricted
funds
£
88,066
5,782
-
-
93,848
Financing
cash flows
£
25,785
974
2,682
29,441		 Total funds
at 31
December
2023
£
319,118
414,041
(306,671)
(3,800)
422,688
Total funds
at 31
December
2022
£ (As
restated)
332,424
410,911
(221,050)
(6,482)
515,803
At 31
December
2023
£
320,236
(8,182)
(3,800)
308,254

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Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

Cash at bank and in hand
Debt due within one year
Debt due after more than one year
Net debt		 At 1 January
2022
£
534,169
(16,474)
(9,163)
508,532		 Financing
cash flows
£
(239,718)
7,318
2,681
(229,719)		 At 31
December
2022
£
294,451
(9,156)
(6,482)
278,813

26 Related party transactions

Group

All trustees and their immediate family automatically get free entry to the zoo.

Benjamin Mee (Trustee)

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 Trustees of the Amelia Mee Trust. The total rent charged in the year amounts to £63,900 (2022: £63,900).

At the year end, the charity owed Benjamin Mee £5,500 (2022: £5,353), which is included within other creditors. Movements were from expenses paid for by the charity related to Mr Mee personally or vice versa. 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 and Chairperson)

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 was a director of a refuse collection company, which provides free refuse collection at the zoo, until 30th November 2023. Additional services were provided in the year, whilst this was a related party, amounting to £1,668 (2022: £2,304) were provided at an arm’s length. There were no donations received in the year (2022: £979).

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Docusign Envelope ID: AC51E0EE-CE60-4EA3-B188-2EB2C6D116C5

Dartmoor Zoological Society

Notes to the Financial Statements for the Year Ended 31 December 2023

Dartmoor Zoo Enterprises Limited

The wholly owned subsidiary, detail in note 17 , 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 (2022: £Nil). The trading subsidiary is currently owed £89,675 from the charity (2022: £2,307 was owed to the charity) for transactions paid on behalf of the other party. The balance 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 cash flow, donating £17,904 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.

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