Company No: 10238727 REGISTERED CHARITY ENGLAND AND WALES NO. 1171144 THE WILDHEART TRUST (Company Limited by Guarantee) REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE WILDHEART TRUST CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Reference and Administrative Details Report of the Trustees Independent Auditors. Report 9-10 Consolidated Statement of Financial Activities 11 Balance Sheets 12 Consolidated Statement of Cash flows 13 Principal Accounting Policies 14-16 Notes of the Financial Statements 17-25
THE WILDHEARTTRUST REFERENCE AND AMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024 Charlty Number Company Number Registered Office 1171144 10238727 Granite Fort Yaverland Seafront Sandown Isle of Wight P036 8QB Trustees Mr N Cummings Ms J Bootle Mr M Henry MsHEKing MsVAHsu Ms R Denny Auditors Bright Brown Ltd Exchange House Newport Isle of Wight P030 5BZ Accountants Moore (South) LLP 9 St John's Place Newport Isle of Wight P030 1 LH Bankers Natwest Bank PIC 107 St James Strt Newport Isle of wht P030 1 UT
THE WILDHEART TRUST REPORT OF THE TRUSTEES AND STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report and financial statements for the Group. which includes the consolidated position of The Wildheart Trust with its wholly owned trading subsidiary The Wildheart Trust Trading Limited for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in the Principal Accounting Policies, and comply with the charity's governing document, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) 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. Objectives and actlvltles The Trust is dedicated to realising its ambitions. These are prtncipally to make a meaningful impact on the health of the natural world while bringing an end to animal cruelty as a result of human activities. The Trust runs the Wildheart Animal Sanctuary and provides governance for its animal welfare and conservation aims. The charity's objects are: to advan animal welfare and conservation. by providing exemplary standards of animal health and well- being within the living collection. by contributing toward collaborative breeding programmes and by providing sanctuary for rescued. confiscated. or unwanted animals that are in need of care and attention" to advance the education of the public in animal welfare and conservation, in particular by raising awareness of national and internakn'onal issues and by delivering high qualty learning opportunities. which inspire a passion for an understanding of the natural wortd" to advan environmental protection. in parttcular by promoting and demonstrating sustainable environments to ensure the integrity of ex-situ populations. and by contributing expertise and funding to effective in-situ conservation projects: and to promote and participate in science-based research projects to assist the survival of endangered species and to further enhance animal management. with the results of such research to be freely disseminated to the scientific and animal conservation worlds. Public benefit statement The trustees have paid due regard to guidance issued by the Charity Commission in deciding what acttvities the charity should undertake with regard to public benef Our fundamental goals can be divided into three main impact areas: At the Sanctuary. we focus on rescue and providing a best possible life for our animals and delFver a visitor experience which converts care into action. 2. On the Isle of Wight. we secure a home for nattve species and bring the community together to love and protect its wildlife. 3. In the World, we create lasting change that ends animal cruelty and help natural habitats thrive to support functional animal populations. Animal welfare is top of our agenda and we are committed to providing a safe forever home for rescued exotic animals. Our team provides holistic, bespoke care tailored to each individual. From the horticulturists and maintenance staff to the animal carers and volunteers. each team member makes a valued contribution to the lived experience of our animal residents. These animals then act as ambassadors to shine a spotlight on animal cruelty around the world, giving a voice to those that have none.
THE WILDHEARTTRUST REPORT OF THE TRUSTEES AND STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 At the Sanctuary 2024 saw the launch of our biggest rescue challenge ye( to rescue 2 Brown Bears from a concrete pit in Azerbaijan. Having spent 10 years imprisoned on the side of a restaurant as a vile curiosity to entertain tourists. Benji and Balu, as they are called. were discovered emaciated and in desperate need of help. On 5th May 2024, Wildheart launched a fundraising campaign to enable the build of a new 3500m2 bear rescue facility to provide a safe forever home for them and others like them in the future. By year end this campaign had raised over £200,000, largely from community donations, which were matched by corporate sponsors and support enabling us to stretch every pound even further. By the end of 2024, the facility was /4 complete and is set to be one of the best in the UK including ponds, streams. caves. hills and fully grown trees. It will be perfect for rehabilitating the bears from their previous years of trauma. As we entered 2025 significant hurdles existed, not least the need to secure a free of charge flight to enable the speedy transfer of the bears from Azerbaijan to their safe forever home at Vldheart. We are pleased to report that in June 2025 Benji and Balu arrived and are setuing in well. In line with our sustainability policies. the bear rescue facility is made from approximately at least 75°/o re-used, recycled and natural materials. rethinking traditional build techniques to minimise our impact on the environment and showcase how zoological construction can be done differently to support the natural world. These Wildheart values were recognised in 2024 with an industry award fot the carbon negative Bamb(K) dome5. the first of their kind in the world. which were also the anchor point for a new UK wide Regenerative Architecture Index launched in London in July. Wildheart appeared on the front cover of UK Architecture Today as a bastion of regenerative destgn and nature friendly build techniques for the UK and further afield, becoming an advisor to many sectors on such praCtIs. We ran the second FOCAS (Focus On Conservation And Science) festival in June. in collaboration with Wonderseekers. to showcase to younger audiences current conservation challenges in the world and how science and behavioural change can help to address them. We increased the number of festival days to 2. more than doubling the number of attendees to over 3.000. With 30 exhibitors from diverse environmental backgrounds, FOCAS became the centrepiece of the Islands Biosphere festival which ran alongside. on again, normal entry prices were suspended to allow inclusivity for all. including 200 b'ckets disseminated free to the Islands most disadvantaged families. The 100 /0 plant-based café thrived in 2024. winning a national award for tearoom and café of the year in the Beautiful South Awards and seeing visttors to the café surge as word spread. Still the onty vegan café in the BIAZA membership. its success has paved the way for others to do the same. influencing behavioural change across the sector. On the Isle of Wight 2024 saw us build on the sucSseS of our 2023 outreach programmes. delivering another round of completely free educational sessions to every school on the Island in partnership with Foresty England. Our programmes used the VVhite-Tailed Eagle as the anchor for curriculum linked lessons around the natural world and conseNation. As we enter 2025 these sessions will expand into Portsmouth, connecting children from some of the most deprived backgrounds th the natural world. In October, we opened the Islands first Vthite£lawed Crayfish arc site, in partnership with Hampshire and Isle of Wght Wildlife Trust. This is the first publicly accessible crayfish arc in the UK, helping to educate thousands of people each year on the plight of this critically endangered species, as well as a centre to breed animals for re-release into Hampshires rivers helping to boost natural populations. It also marks the first step on the journey to creating a mega reserve for White-clawed Crayfish on the Island. to support sustainable large-scale re-introductions of this species across mainland UK We continued to monitor the Islands Red Squirrel populations and feed into the Wight Squirrel project. We continued our water pollution work. in partnership with Southem Water. completing the first year of study and generating one of the best sets of longitudinal water pollution data in the UK The first yearfs success led to us expanding the testing sites to a second location. which is directly comparable to the Environment Agencies data, allowing us to interrogate current practices and better inform on best practice nationally going forward.
THE WILDHEART TRUST REPORT OF THE TRUSTEES AND STRATEGIC REPORT (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 As we head towards 2025. Wldheart is in discussion with several universities to expand the scope of the project to include speciation and testing for other pollutants. such as forever chemicals. All such data will be vital in adjusting industry praCtIS and behaviour to better protect our vital marine ecosystems. Our work continued on the Beaver steering group and we On again supported Natural England with its work to save the Reddish Buff Moth from exiinction in the UK. Our community clubs have grown in popularity, connecting ever more people from new mums and babies to schoolchildren, teenagers and adults with wildlife. Such clubs included tiger mums. tiger teens. tiger tots, holiday clubs, gardening clubs and holiday access with food clubs. We continue to allow free carer access and act as the base for Socialising Buddies. a group set up to support vulnerable adults. Visits by uniform groups increased, with the development of a second °zoo° badge and the running of our conservation weekend again for guides and brownies. In the World Globally, our objective to end animal cruetty continued with the SERVIVAL campaign whose aim is to ban the breeding of exotic cats, like Senials. with domestic cats to produce hybrid cats. like the Savannah cat. In 2024, Wildheart advised a specialist DEFRA group that investigated evidence of welfare compromise from this hybrid cat trade. This work stream. run by DEFRAS animal welfare committee, concluded in a report released in November that the Government should ban hybridisation of exotic and domestic cats. Their recommendations. listed below. included a ban on imports of hybrid cats"_ l) Legislation shouldbe enacted banning any further deliberate breeding of domestic cats with any non-domestic felid species, or breeding with first Iwo generation hybrid cats (Fl and F2) 2) Legislation should be enacted banning the importation of any domestic wild cat hybrids. m.th the exception of low hybrid generations of Bengal cats (generation F5 or later) This is a big step forward for the campaign and. wtth DEFRAS backing, Wldheart will now ramp up its advocacy as it heads into 2025 to get these recommendations passed into law. In support of the SERVIVAL campaign. Wldheart led on the 2nd World Serval Day on 18th March, to raise public awareness of the issues with hybrid cats, engaging more stakeholders than ever and increasing global audience reach to over 2 million. This is now a stalwart of BIAZA'S calendar and sees many UK Zoos and NGOS taking part. We continued our support of conservation organisation Wldcat-c. which works in India to secure a home for wild Tigers. and the Madagascar Fauna and Flora Group which works with communities in Madagascar to preserve the rainforests for numerous endangered species. Education Education runs like a ribbon through all of the above activities and is critically important for the fulfilment of our objectives. We expanded our educational department again in 2024 and worked hard with pariners such as the Isle of Wight Council to secure support for an extensive community engagement prTr3ramme for a second year. This support. along Wlth the larger departmenl. saw our school visitation figures reach a new high for the charity. The education department worked hard to deliver the FOCAS festival and developed many other initiatives such as home schooling and conservation clubs. which are now regular featUS on the educational calendar. The outdoor space was improved by rehoming our gardening club area to allow it to expand and securing funding to add a greenhouse and storage facilities. However. the departrnent's success means we have outgrown our intemal Spa and must now seek funding to develop a brand-new conservation education centre to ensure the department can continue to deliver impacthjlly and support the MMunity.
THE WILDHEART TRUST REPORT OF THE TRUSTEES AND STRATEGIC REPORT (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 Volunteers 2024 Saw a 500/0 increase in our number of active volunteers, which played a huge part in the charity's success in all aspects of its operations from maintenance and horticulture to fundraising and guest experience, ensuring all our visitors had an inspirational day out. The Board would like to express its gratitude for their generous gift of time and energy. Flnanclal revlew The Trust incurred a surplus on unrestricted fijnds in the year of £69.853 (2023 - £119,481 deficit). The current period included legacy donations of £908 (2023 - £67.577). The Group continued also to meet the loan repayments on bank funding including CBILS loan. The net assets therefore increased from £1.082,033 to £1.293.906 with restricted funds on projects and appeals increasing from £19,706 to £161,726. The Trust also invested £123.326 (2023 - £105.703) on red asset expenditure in respect of the bear enclosure. The charity's wholly owned trading subsidiary. The Wildheart Trust Trading Limited. generated a surplus in the period of £58,699 (2023 - £38.000) following an increase in café and retail sales to £512.945 (2023 - £444.340). The surplus has been transferred to the charity. Major risks facing the Trust The on-going concern for the Trust is the cost-of-living crisis and its effects on tourism, with ferry prices to the Island becoming unfavourable to ever broader sectors of society and thus a shrinking pool of potential visitors to the Sanctuary. Balancing the Trust's commitment to provide an ethical recreational experien while remaining affordable is challenging. Providing value for money and continually improving the visitor experien remain key tactics to ensure we remain resilient to external economic pressures. To that end. significant new features planned for coming years, such as the new bear facility, will keep the sanctuary visit °fresh° and ensure we attract both residents and tourists alike. The team are dedicated to ensuring that we provide a quality experien with high standards throughout. Attracting and retaining tslent at an Island organisation remains a challenge, particularly with increased costs of commuting from the mainland. Although remote working does help to ease these pressures. key positions such as trading and marketing remain tough to fill within budget. We are conscious of the need to offer competitive benefits and a desirable working environment in order to position ourselves in the employment market and have added further employee incentives such as health insurance to support this. th increasing public awareness on animal rights and welfare, we forecast a movement towards greater scrutiny of animals bred and kept in captivity purely for human entertainmenL We welcome this and believe that the Trust and its work should not suffer from a downtum in suppjrt if we ensure that we communicate our role, as a rescue and rehabilitation centre. effectiveEy both to our visitor audience and the wider world. As the Trust grows its campaigning ami, it may be more exposed arKI prone to being targeted by adversaries. However. we are committed to our vision for a world free from cruelty to animals where people protect wildlife and we understand that change is not always easily won and we will need to build resilience to deal with opposition. The risk register continues to be updated and a scheme of works developed to ensure spends are mapped out and tackle the areas of crumbling infrastructure in a sustainable way. R8serves policy The Charity had unrestricted reserves at the end of the period of £1.132.180 (2023 £1,062,327). Small levels of reserves were restricted on appeals and specifjc projects of £161.726 {2023- £19,706). We have now developed a reserve fijnd equivalent to Stx months. operating costs of £75.000 per month - £450.000.
THE WILDHEART TRUST REPORT OF THE TRUSTEES AND STRATEGIC REPORT (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Charity's free reserves amounted to £257,964 (2023 - £215,159). Free reserves are defined as unrestricted funds less the sum of funds tied up in fixed assets. Trustees plan to maintain a six months operating buffer for the seasonality of the Charity's operations of £450.000. whereas the year-on-year decline in free reserves was largely due to spending on fixed assets. Ive continue to look at ways in which we can build reserves, not only through day to day operations. but also through sponsorship. gifting and diversification of income streams. Future developments 2025 is set to be another strong year as we develop ever more opportunities to influence meaningful change in line with our objectives. At the Sanctuary. we will be focusing on new audien5 wilh the launch of our Hover Safari offer, which provides a hugely discounted combined travel and admission ticket to allow those in Portsmouth to easily access the Sanctuary. This is part of a larger initiative to drive footfall into Sandown and the surrounding area. We will also launch our group travel campaign to attract coach parties and others to the Sanctuary, a previously underutilised market. We will start work on securing funds for a new conservation educalion ntre that will support this fast-growing department. We will bring on board the charity's first indoor rentable space, in the form of our Bear Lookout Centre, helping to expand our income streams. We will increase our outreach to investrnent partners to help raise funds for essential works at the Sanctuary and conservation initiatives to help our native species. We will develop plans to support a myriad of initiatives in support of native species in line with the Local Nature Recovery Strategy recommendations. Including Chough. Beaver and Crayfish focused projects and associated educational plans. structure, governance and management The Trust is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 17 June 2016 and amended 29 June 2016 and registered under number 10238727. The address of the Trust's principal ofFice is Granite Fort. Yaverland Road. Sandown, Isle of )Afjght. P036 8QB. Each member of the board of management is liable to contribute an amount not exceeding £10 in the event of winding up the charity. The members of the board of management constitule directors of the charity for Companies Act purposes. Day-to-day management of the Trusl was delegated to the chief executive. The trustees. who are also the directors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were: Ms Joanne Bootle Mr Neil Cummings Mr Mark Henry Ms Vicky Hsu Ms Helen King Recruitment, appointment, induction and training of new trustees The board of management has the power to appoint members of the Board. At year-end, the board of management consisted of Ms C Comey. Mr C Packham (both former trustees) and each of the trustees. The total number of trustees shall not be less than five. A trustee shall be appointed for a term of office for three years. Any person retiring as a trustee shall be eligible for reappointment. A trustee who has served for three consecutive terms may not be reappointed for a fourth consecutive temi, although this can be waived in exceptional circumstances, at the discretion of the trustees.
THE WILDHEARTTRUST REPORT OF THE TRUSTEES AND STRATEGIC REPORT(CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 The board of management seeks to identify new trustees who share their enthusiasrn for the welfare and protection of the animals and who bring qualities which will help to achieve the Trust's objectives. Potential trustees are given details of the Trusvs aims and activities and if all agree, they will be proposed as new trustees at a subsequent board meeting. This process will allow for due consideration of each candidate's eligibility, personal competence, specialist knowledge and skills. New trustees will receive appropriate induction from the existing trustees and the chief executive. which includes briefing them on the Articles of Association, the business plan and recent financial performan of the Trust. During the induction prO5s. they will also meet key employees. None of the trustees has any beneficial interest in the company. All of the trustees are members of the Trust. Organisational structure The board of trustees meets approximately six times a year (including by videoconference) and is responsible for the proper governan and strategic direction of the charity. Related parties The charity's wholly owned subsidiary, The Wldheart Trust Trading Limited. was established to operate the Wildheart shop and the Wildheart café and other trading activities. It has an appropriate lin from the charity and gift aids its profits to the charity. The charity has a formal lease with Ms C Comey. a trust until 21 December 2023. in respect of the land occupied and utilised by the Trust. Ms C Corney. the landlord. will receive a rent in accordan with the lease at a current rate of £92,625 per annum.
THE WILDHEART TRLIST REPORT OF THE TRUSTEES AND STRATEGIC REPORT (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustees, Responslbllttles The Trustees (who are also Directors of The Ilffjldheart Trust for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordan with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In pteparing these financial statements. the Trustees are required to: select suitable accounting policies and then appty them consistently observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent prepare the financBI statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in business. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the preventTron and detection of fraud and other irregularities. In so far as each of the persons who was a trustee at the date of approving this report is aware:_ there is no relevant audit information of which the charitable company's auditors are unaware; and the Trustees have taken all steps they ought to have taken to make themselves aware of any relevant audit information and establish that the auditors are aware of that information. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Auditors Bright Brown Ltd have expressed their willingness to continue in of[1. and a resolution for their reappointment for the next financial yearwill be put to the Annual General Meeting. ON BEHALF OF THE TRUSTEES Mr N Cummings Trustee Dated:
THE WILDHEART TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES AND MEMBERS OF THE WILDHEART TRUST Oplnion We have audited the financial statements of The Wildheart Trust (the 'charitable company) for the year ended 31 December 2024 which comprise the Group Slalement of Financial Aclivilies. the Group and Company Balan Sheet, Ihe Group Statetnent of Cash flows and notes to the financial statements, including a summary ofsignifficant accounting policies. The financial reporting framework that has been applied in their preparalion is applicable law and United Kingdom Accounting Standards. including FRS 102 °The Financial Reporting Standard appliCae in the UK and Republic of Irelan(r (United Kingdom Generally Accepted Accounting Practice). and the Charities SORP 2019. In our opinion the financial statetnents= give a true and fair view of the state of the group's and charitable companls affairs as at 31 December 2024 and of its incoming resources arKI application of resources. induding its Irome and expenditure. for the period then ended: have been property prepared in accordance wth United Kingdom Generally Apted Ac£ounting Practice; have been prepared in accordan with the requiretnents of the Companies Act 20(. Basis for opinion We conducted our audil in accordance with Intemalional Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our rewt. We are independent of the charitable company and group in ac(danCe with the ethical requirements that are relevant to our audit of the finanual statements in the UK, induding the FRC'S EthirAI Standard. and we have fulfilled our elhical responsibilities in accordance wtlh these requirements. We believe that the audit evtdence we have obtained is sufficient and appropriats to provide a basis for our audit opinton. Conclusions relating to going concem In auditing the finanaal statements. we have conduded that the trustees. use of the going concem basis of aCunting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material Unrtainties relating to events or conditions that. indiwdually or collectivety. may cast significant doubt on the group's or charitable companys ability to continue as a going con[ for a period of at least e1ve months from when the financial statements are authortsed for issue. Our responsibilities and the responsibilities of the trustees with respecl to going concem are described in the relevant sections of this report. other inforniation The Irustees are responsible for the other information. The other Informatic comprises the informatÈon induded in the annual report. other than the financial statements and our audilorfs ieport thereon. Our opinion on the financial statements does not cover the olher infomiation and. expt to the extent othewiise explicit stated in our report, we do not express any fomi of assurance condusion thereon. In connection with our audit of the financial stalements. our responsibility is lo read the other informalion and, in doing so. consider whether the other infom)ation is materially 1C$1Stent with the financial statements or our knowledge oblained in the audit or otherwse appears to be materially misstated. If we identify such material irnsIstencieS or apparent malerial misstatements. Vle are required to deteilne whether there is a matetial misstatement in the financial statements or a matetial misstaternent of the other information. If, based on the Vrk we have performed. we condude thal there is a material misstatement of this other infomiation. we are reqinred to report that fad. INe have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the Tnjstees, ReFKsrt, induding the incorporaled Strategi¢ Report for the financial period for which the accounts are prepared. is consislent with the financial ststements: and the Trustees. Report. induding the incorpoiated Strategic Report, have been prepared in ardance wtth applicable legal requirements. Matters on which we are required to report by exception In the light of thè knowledge and understarmling 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 Twstees, Report. induding the incorF)oraled Strategic Report. The Injslees were not entitled to take advantage of the small companies exemplion from the requirement to prepare a Strategic Report or in preparing the Repjrt of the Trustees
THE WILDHEARTTRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES AND MEMBERS OF THE WILDHEART TRUST (CONT) We have nothing to report in respect of the following matters where the Companies Act 21x6 requires us to report to you if. in our opinion.. adequate accounting records have nol been kept by the parent chartty. or retums adequate for our audit have not been received from branches not visited by us- or the financial siatements are not in agreement with the accounting records and retums; or certain disdosures of trustees. remuneratiC>n specified by law are not made: or we have not received all the infotmation and explanations we require for our audit. Responsibilities of trustee5 As explained more fully in the trustees. responsibililies Statement set out on page 8. the t(ustees (who are also the directors of the group charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal ntrol as the twstee5 detemine is necessary to enable the preparation of financial statements that are free ffom malerial misstatemenL whelher due lo fraud or error. In preparing the financial statements. the tNstees are responsible for assessing the group's and the charitable companls ability to continue as a going concern, disdosing. as applThble. matters related to going concem and using the going concern basis of accounling unless the trustees either intend to liquidate the group and thatitable company or to ase operation5, or have no realistic altemalive but to do so. Auditorfs Te5ponsibilities for the audit of the financial statements Our objectwes are to obtain reasonable assurance ab(xJt whether the financial statements as a whote are fe from material misstatement. whether due to fraud or etror. and to issue a Report of the Independent Auditors that indudes our opinion. Reasonable assurance is a high level of assuran. but is a guarantee that an audtt conducted in accordance with ISAS (UK) will always delect 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 deL?Stons of users taken on the basis of these financial statements. Irregularities. including fraud. are instances of non-compliance vlith laws and regulations. We design prOdureS in line with our responsibilities. outlined above. to detect material misstatements in respect of itregularities. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed belw. Based on our understanding of the group and dritable company. the principal risks are that of management override of controls. potential fraud in revenue recognition, potential for undisdosed related parties. The engagement team considered these risks and audit procedures were undertaken as follows: Discussions with management regarding the abilty to overtide controls and review of processes in place lo confirm no override had occurred. Extension of sample sizes relating to revenue recognition. Review of financial statement disdosures. induding completion of a relevant disclosure checklist. Discussions Trmth management regarding transactions with related parties. induding consideration of any known or suspected instances of non-compliance with laws and regulations or of fraud. and a review of the nominai ledger. There are inherent limitations in the audit procedures described aVe, and the further removed non-compliance wth laws and regulations is from the evenis and transadions reflected in the financial statements. the less likely we are to become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error as fraud may involve deliberate concealment or Intenthal rnisrepresentations. A further description of our responsibilities for Ihe aurfit of the financial slatements is located on the Finanual Reporting Councils website at: www.fr¢.Org.uaudit0r5respQn$ibililie$. This descJiption fonns parl of our auditorfs report. Use of our report This report is made solely to the group and charitable companls membets. as a bLty. in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and vth Chapter 3 of Part 8 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 ts group and charitable CoMpanS members th¢)se matters we are required to state to them in an auditorfs retmyl and for no other purpose. To the fullest extent pemiitted by law, we do not acpt or assume responsibilty to anyone other than the group and the thariiable companys members as a body. for our audit this or for the opinions we have fom)ed. Stevens ACA (Senior Statutory Auditor) For and on behalf of Bright Brovffl Limited ststutory Auditor. Chartered Accountants ZOL Exchange House Newport Isle of Wght P030 5BZ 10
THE WILDHEART TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Total Total Funds Funds Unrestricted Restrlcted Year to Yearto Funds Funds Dec 2024 Dec 2023 Note INCOME AND ENDOWMENTS FROM: Donations and fegacies Other trading activities Charitable activities Finance incorr Other income 148,548 517,256 1,152,000 12,839 394 300,725 449,273 231,748 517,256 459,253 1,152.000 1.008,133 12,839 12.142 394 8,262 4&7 TOTAL INCOME 1,831.037 300,725 2,131.762 1,719,538 EXPENDITURE ON: Raising funds Other trading activities Charitable activities 124.993 458,587 1,300,930 124,993 149,986 458,587 421,253 35,379 1,336,309 1,252,524 7&8 TOTAL EXPENDITURE 1.884.510 35.379 1.919.889 1.823,763 NET INCOME I (EXPENDITURE) (53.473) 265.346 211,873 (104,225) Transfers beeen funds 18&19 123.326 (123,326) NET MOVEMENT IN FUNDS 69.853 142,020 211.873 (104.225) RECONCILIATION OF FUNDS Fund balances brought forward at 1 January 2024 1,(E2,327 19,706 1,082.033 1.186.258 Fund balances carried forward at 31 December 2024 1.132.180 161.726 1,293,906 1,082.033 The accompanying accounting policies and notes form an integral part of these financial statements. All operations of the Trust and its trading subsidiary are continuing. The individual results of the Charity alone are included in the notes to these accounts and are not presented as a primary statement in accordance with s408 Companies Act 2006.
THE WILDHEART TRUST BALANCE SHEETS AS AT 31 DECEMBER 2024 Consolidated Dec Dec 2024 2023 Wildheart Trust Dec Dec 2024 2023 Note FIXED ASSETS Tangible assets 12 874.216 847,168 862.263 831.421 CURRENT ASSETS Stocks Debtors Investments Cash at bank and in hand 35,070 35,296 31,911 57,085 13.632 10.254 32,834 49.109 100 100 712,819 508,572 13 14 740,288 523,440 810,654 612,436 759,385 568,035 CREDITORS Amounts falling due within one year 16 (247,149) {194,770) (250,183) (181,508) NET CURRENT ASSETSI{LIABILITIES) 563.505 417.666 509.202 386,527 TOTAL ASSETS LESS CURRENT LIABILITIES 1.437.721 1.264.834 1.371,465 1,217,948 CREDITORS: amounts falling due after more than one year 17 (143.815) {182.801) (141.840) {176,528) TOTAL NET ASSETS 1.293.906 1.082,033 1.229,625 1.041.420 FUNDS Restricted funds Unrestricted funds 18 19 161.726 19.706 161.726 19,706 1.132,180 1,(2.327 1,067.899 1,021,714 1.293.906 1.082.033 1.229,625 1,041,420 The financial statements were approved by the Trustees. Mr N Cummings Trustee Dated. 24 s6nEry6d Eo85 Charity Number.. 1171144 Company Number: 10238727 The accompanying accounting policies and notes form an integral part of these financial statements. 12
THEWILDHEART TRUST CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 Yearto December 2024 Year to December 2023 Cashflow from operating activities Net cash flow from operations Interest paid Note See Below 339.463 (10.393) (46,463) (11,783) Total cash flow from operating activities 329.070 (58,246) Cashflow from investing activities Purchase of property. plant and equipment Proceeds from sale of propety, plant and equipment Interest received 12 (123.326) 40.000 12.839 (105.703) 12,142 Total cash flow on Investing activities (70.487) (93.561) Cash from financing activiiies Repayments of borrowing Proceeds of new hire purchase finance Repayment of finan lease obligations (34.371) (34,084) 11,813 (11,699) (7.364) Net cash provided by (used in) financing activities {41.735) {33,970) Net increase in Cash and cash equtvalents 216.848 (185,777) Cash and cash equivalents at 1 January 2024 523.440 709,217 Cash and cash equivalents at 31 Dernber 2024 740.288 523,440 Cash and cash equivalents: Bank accounts 740 288 523 440 740,288 523.440 Reconciliation of Income to net cash flow from operatSons: Year to Dec 2024 Year to Dec 2023 Net income less expenditure Finance costs Interest received Depreciation charges Loss on disposal (Increase)Idecrease in stocks (Increase)Idecrease in debtors Increasel(decrease) in creditors 211.873 9.270 (12.839) 49.028 7.250 (3.159) 21,789 56,251 {104,225) 11,783 {12,142) 55,670 3,270 (17,442) 16,623 Net cash Inflow from operations 339.463 (46,463) 13
THE WILDHEART TRUST PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Charlty Informatlon The Wldheart Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Isle of Wight Zoo, Yaverland Road, Sandown, Isle of Imght, P036 8QB. Each member undertakes to pay the sum of £10 in the event of a winding up. Accounting convention The financial statements have been prepared in accordance with the charity's Memorandum and Articles, the Companies Act 2006, Charities Act 2011 and "Accounting and Reporting by Charities". Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)° (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The Company has taken advantage of the exemption under Section 408 of the Companies Act 2006 from presenting ts own income and expenditure accounL The financial statements are prepared in sterling. which is the funCnal currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Going concern At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounling in preparing the financial statements. Charftable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Incoming resources Income is recognised when the charity is legalty entiUed after any perfomance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Gifts in kind. other than volunteer time is valued and included in donations. and the relevant expense or capilal addition at the value to the charity. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless Performan conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise rf ihe charity has been notified of an impending distribution. the amount is known. and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset. Revenue is measured at the fair value of the consideration reiVed or receivable. Revenue represents amounts for goods and services provided in the normal course of business. net of discounts, VAT and other sales related taxes. 14
THE WILDHEART TRUST PRINCIPAL ACCOUNTING POLICIES (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 Resources expended Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo that category. Ilvhere costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Expenditure that does not relate directly to the objects of the charity is analysed beeen charitable support costs, governance costs and costs of generating funds. Items that involve more that one cost are apportioned to the cost categories involved in order to reflect the level of associated activity- Expenses related to restricted funds are shown separatety- Property, plant and equipment Propety, plant and equipment additions costing in excess of £5(K). ale capitalised. initially measured at cost and subsequentty measured at cost, net of depreciation and any impairment losses. Depreciation is recognised to write off the cost of assets less their residual values over their useful lives on the following bases: Site improvements Computer. fixture, and equipment Between 5% and 15% reducing balance based on asset life Between 150k and 25¥0 reducing balance, or 50 % straight line based on asset life 6% straight line based on asset life Propety, plant & Equipment The gain or loss arising on the disposal of an asset is detemiined as the differen beiween the sale proceeds and the carrying value of the asset, and is recognised in net incomel(expenditure). Investment- subsidiary company A subsidiary is an entity controlled by the charity. Control is the power to govem the financial and operating policies of the entity so as to obtain benefits from its acliviiies. Impairnient of non-current assets At each reporting end date. the charity reviews the carrying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Valuation of animals The animals looked after by the Wildheart Trust are not bought and sold. and transactions are made without monetary consideration. Therefore. there is no objective or practical basis for establishing a value. As is customary among zoological organisats'ons. no value is placed on the animal collections. Inventories Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost Net realisable value is the estimated selling price less all esttmated costs of completion and costs to be incurred in marketing. selling and distribution. Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call wilh banks. other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 15
THE WILDHEART TRUST PRINCIPAL ACCOUNTING POLICIES (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balan sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offse( with the net amounts presented in the financial statements. when there is a legally enforceable right to *t off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and setue the liability simultaneousty- Baslc financlal assets Basic financial assets, which include trade and other re1VableS and cash and bank balances, are initialty measured at transaction pri including transaction costs. Subsequently these assets are carried at amortised cost using the effective interest rnethod unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabi15ties. including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cos( using the effective interest rate method. Trade payables are obligations to pay for goods or serVIS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or canlled. Employee benefits The cost of any unused holiday entitlement is recognised in the period in vthich the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Retirement benefrts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Leases Rentals payable under operating leases, including any lease inntiveS received, are charged as an expense on a straight line basis over the term of the relevant lease. Critical accounting estimates and judgements In the application of the charity's accounting policies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilittes that are not readily apparent from other sources. The estimates and associated assumptions are based on histori1 experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounts'ng estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Volunteers No amount is included in the financial statements for volunteer time. in line with the SORP. Further detail is given in the Trustees, Annual Report. 16
THE WILDHEARTTRUST NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2024 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES Total Unrestricted Restricted Funds Funds Funds Dec 2023 For the year endlng 31 December 2023 INCOME AND ENDOWMENTS FROM: Donations and legacies Other trading activities Charitable activities Finance income Other income 191,598 459,253 1.008,133 12,142 40,150 231,748 459,253 1,008,133 12,142 TOTAL INCOME 1,674,476 45,062 1,719,538 EXPENDITURE ON: Raising funds Other trading activities Charitable activities 149,986 421,253 1226 458 149,986 421,253 26 066 1252 524 TOTAL EXPENDITURE 1,797.697 26.066 1,823,763 NET INCOME I (EXPENDITURE) (123,221) 18,996 {104,225) Transfers between funds NET MOVEMENT IN FUNDS (119.481) 15,256 (104,225) RECONCILIATION OF FUNDS Fund balances brought forward at 1 January 2023 1 181808 4.450 1 186 258 Fund balances carried forward at 31 December 2023 1.(2.327 19.706 1.082,033 FINANCIAL PERFORMANCE OF THE CHARITY The consolidated statement of financial activities includes the results of the Charity's wholly owned subsidiary. which operates Ihe Zoo's café and retail shop. The summary financial perfOmaft of the Charity alone is: Year to Dec 2024 Year to Dec 2023 Income Expenditure 1.649.506 1461301 1,305,877 1402 510 NET INCOME 188.205 (96,633) Total funds brought forward 1041420 1 138 053 Total funds carried forward 1.229.625 1,041,420 Represented by: Restricted funds Unrestricted funds 161.726 1067 899 19,706 1021714 1,229,625 1,041,420 17
THE WILDHEART TRUST NOTES TO THE ACCOUNTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 INCOME FROM DONATIONS AND LEGACIES Year to Year to Dec Dec 2024 2023 Unrestricted Restricted Donations Legacies 147.640 908 300.725 448,365 164,171 908 148,548 300.725 449,273 231,748 Donations include £Nil (2023- £1,950) in respect of gifts in kind. Of the comparative figure, £16,945 of donations were represented by restricted funds. INCOME FROM OTHER TRADING ACTIVITIES Year to Dec 2024 Year to Dec 2023 Unrestricted Restricted Commercial trading operations - Café and relail Commercial trading operations - Rental income 512,945 512.945 444.340 517,256 517,256 459,253 INCOME FROM CHARITABLE ACTIVITIES Year to Dec 2024 Year to Dec 2023 Unrestricted Restricted Sales wthin charitable activities 1.152.tM)O 1.152,000 1.008.133 OTHER INCOME Year to Dec 2024 Year to Dec 2023 Unrestricted Restricted Other grants 394 394 Of the comparative figures. £4,912 income was restricted. NET INCOME FROM ACTIVITIES OF TRADING SUBSIDIARY The wholly owned trading subsidiary The IAfjldheart Trust Trading LTmited is incorporated in England and Wales (company number 08058005) and will donate all of its profits to the charity. under the corporate gift aid scheme as they are made. The Wildheart Trust Trading Limited operates the sanctuary's café and retail shop. which are both on the same premises as the Charity. The summary financial perf0rrnan of the subsidiary from its published accounts is.. Year to Dec 2024 Yearto Dec 2023 Tumover Operating costs 517,256 458 587 459.253 421253 Operating Profit l (loss) 58.669 38,000 18
THE WILDHEART TRUST NOTES TO THE ACCOUNTS (CON FOR THE YEAR ENDED 31 DECEMBER 2024 NET INCOME FROM ACTIVITIES OF SUBSIDIARIES (cont'd) Yearto Dec 2024 Year to Dec 2023 The net assets and liabilities of the subsidiary were: Fixed Assets Current assets Creditors.. amounts falling due within one year Creditors.. amounts falling due after more than one year 11.953 72.643 {18.240) 15,747 48,511 (17,272) Total net assets 64.381 40,712 Aggregate of share capital and reserves 64.381 40,712 Payments were made during the year to the Charity under gift aKI 35,000 45,592 ANALYSIS OF EXPENDITURE Year to Dec 2024 Year to Dec 2023 Cost of raising funds= Fundraising costs Staff costs Allocation of support and govemance (note 9) 75.004 27,695 92,069 27,561 30 356 124.993 149,986 Costs of other trading activities 458.587 421,253 Direct Charitable expenditure Staff costs Depreciation Loss on disposal Animal costs Vet costs Adoption costs Staff training and uniform Rent (charity proportion) Utilities Equipment hire Maintenance Health & safety Education costs Subcontractors Cleaning Gardening Donations paid Allocation of support and governance costs (Note 9) 660.202 45.234 7.250 61,094 10,479 9.616 4,874 87.592 68,347 974 20,436 7,338 10.456 76.892 12,133 9,142 7.308 236 942 584,964 51,389 60,718 20,927 3,584 5,265 55,592 77,635 2,100 21,670 5,682 8,598 66,038 15,819 4,968 14,073 253 502 1,336,309 1,252,524 Included in the above is £35,379 of restricted fund expenditure (2023 - £26.066). 19
THE WILDHEART TRUST NOTES TO THE ACCOUNTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT AND GOVERNANCE COSTS Year to Dec 2024 Year to Dec 2023 Support Governance Support costs Basls of allocation staff costs priFrata on expenditure 54,845 Travel and entertaining pr<krata on expenditure 15,390 Printing and postage priFrata on expenditu 3,895 Telephone and IT pro-rafa on expenditure 18,674 Insuran pro-rata on expenditure 31.658 Sundry pr&rata on expenditu 6,259 Bank charges pro-rata on expenditure 3.381 Credit card charges pro-rata on expenditure 21.711 Loan interest pro-rata on expenditure 9,270 HP interest pro-rata on expenditure 1.123 Subscrtptions pro-rata on expenditure 4,772 Legal and professional pr(rata on expenditure 12.427 Recruitment costs pro-rata on expenditure 3,353 Accountancy and management pro-rata on expenditure 15.272 Irrecoverable VAT pro-rata on expenditure 40.042 Governance costs Audit & statutory reportfng Governance costs 54.845 15,390 3,895 18,674 31,658 6,259 3,381 21,711 9,270 1,123 4.772 12,427 3.353 15.272 40.042 55,489 7,951 3,461 17,558 22,081 5,757 3,268 16,474 11,192 591 4,313 29,702 12,554 19,539 56,280 16.720 444 16.720 444 17.000 648 242.072 17.164 259.236 283,858 Support and Governance costs are allocated to Fundraising and Direct Charitable expenditure as follows: Fundraising costs Direct charitable expenditure 20.818 1,476 22.294 236 942 30.356 253 502 242.072 17,164 259,236 283.858 10. OTHER COSTS- CONSOLIDATED Year to Dec 2024 Year to Dec 2023 The surplusldeficit is stated after charging: Depreciation Bank loan interest payable Operating lease rentals Audit services 49.028 9.270 974 9.300 55,670 11,192 2,100 10,700 11. EMPLOYEES- CONSOLIDATED Year to Dec 2024 Year to Dec 2023 Employee costs of the group during the year were as follows: Wages and salaries Social security costs Other pension costs 813.146 63.678 723,726 49,721 891.207 785,444 No ernployee (Dec 2023 - zero) r1Ved remuneration of £60.000 or more during current year. 20
THE WILDHEARTTRUST NOTES TO THE ACCOUNTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 11. EMPLOYEES (cont.) The average number of employees during the period were as follows: Year to Dec 2024 49 Yearto Dec 2023 44 No trustee received remuneration in the period for services as a trustee (Dec 2023 - Nil). Expense reimbursements for travel and subsistence were paid to no (Dec 2023 - no) Trustees during the period of £nil {Dec 2023: £nil). The Charity paid remuneration to senior management personnel of £58,125 (Dec 2023 - £55,000). The Charity and trading company operates a combined payroll and has aut(Fenrolled to meet the requirements of employer pensions. The Charity operates a defined contribution scheme. the assets of which are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund. The amount owing at the period*nd was £3.092 (Dec 2023- £2.877) and is included in other payables. 12. TANGIBLE FIXED ASSETS Property, plant Assets under Leasehold Fixtures & & Equipment construction improvements Equipment GROUP COSL" At 1 January 2024 Additions Disposals Total 50.000 950.276 120,158 1,120,434 123,326 123,326 At 31 December 2024 123.326 950,276 120,158 1,193.760 Depreciation- At 1 January 2024 Charge in the peri<MJ Disposals 2.750 204.062 39,538 66.454 9.490 273,266 49,028 At 31 Oecember 2024 243.600 75,944 319,544 Net book amount at 31 December 2024 123.326 706.676 44.214 874,216 Net book amount at 31 December 2023 47.250 746.214 53.704 847,168 CHARITY Cost.. At 1 January 2024 Additions Disposals 50.000 950.276 93.494 1.093,770 123,326 50 000 123,326 At 31 December 2024 123,326 950,276 93,494 1.167,096 Depreciation: At 1 January 2024 Charge in the period Disposals 2.750 204,062 39.538 55.537 5.696 262,349 45,234 At 31 December 2024 243.600 61.233 304,833 Net book amount at 31 December 2024 123.326 706.676 32.261 882,263 Net book amount at 31 December 2023 47.250 746.214 37.957 831,421 In both Group and Charity, fixtures and equipment with a net book value of £22.142 (2023 - £25,182) were in respect of assets under hire purchase agreements. Depreciation of £3.040 (2023 - £3,479) was charged on these assets. 21
THE WILDHEART TRUST NOTES TO THE ACCOUNTS (CONT FOR THE YEAR ENDED 31 DECEMBER 2024 13. DEBTORS Consolidated The Wildheart Trust Dec 2024 Dec 2023 Dec 2024 Dec 2023 Trade receivables Other debtors Prepayments and accrued income 1.473 10.479 2.430 15.578 1,473 8.377 2.430 14,697 35.296 57.085 32.834 49,109 14. INVESTMENTS Consolidated The Wlldheart Trust Dec 2024 Dec 2023 Dec 2024 Dec 2023 Shares in group undertaking (cost and NBV) 100 100 The Wildheart Trust holds 100°k of the shares in the trading company The vldheart Trust Trading Limited. This company is registered in England and valeS under company number 08058005 and shares the Trust's registered office. 15. FINANCIAL INSTRUMENTS Consolidated The Wildheart Trust Dec 2024 Dec 2023 Dec 2024 Dec 2023 Carrying amount of financial assets Debt instruments measured at amortised cost 775.584 576.062 745.653 553.047 Carrying amount of financial liabilities Measured at amortised cost 321.754 313.279 322,811 339,309 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Consolidated The Wildheart Trust Dec 2024 Dec 2023 Dec 2024 Dec 2023 Bank loans and overdrafts other taxation and social security Trade creditors Other payables Amounts owed to subsidiary Hire purchase payable Accruals and deferred income 34.689 19.395 67.119 6.937 34,372 17,473 60,301 12,586 34,689 19,398 55,728 6,937 21,274 34,372 17,501 56,442 5,763 3,984 3,686 4.299 114710 7,365 112.157 247,149 194.770 250,183 181.508 Included within accruals and deferred income is membership income of £45.978 (2023.. £39,471) relating to future periods. 22
THE WILDHEARTTRUST NOTES TO THE ACCOUNTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Consolldated The Wildheart Trust Dec 2024 Dec 2023 Dec 2024 Dec 2023 Bank loans Hire purchase 141,840 176,528 141.840 176,528 143,815 182,801 141.840 176.528 The long-term loans are secured by fixed and floating charges over the Trust's property Granite Fort, Yaverland Seafront, Sandown, Isle of WghL 18. RESTRICTED FUNDS Transfers (to)Ifrom unrestricted 3111212024 Balance Balance at 11112024 Income Expenditure Big cat enrichment Bear project Crayfish Council tree grant Water Quality Monitoring IMiite-Tailed Eagles 2.910 269.923 7.500 2.390 (604) (1.991) (7.500) (2.390) (3.959) 18.933 2,306 (123,326) 144,606 3,959 15.747 Total restricted funds 19.706 300.723 (35.377) (123,326) 161,726 The transfers from restricted funds on the Bear project represent the expenditure incurred on the associated fixed asset additions which have been capitalised in these accounts. Transfers to restricted fijnds represent projects completed with general funds. Comparative Transfers Balance {to)ffrom at Expenditure unrestricted 3111212023 Balance at 11112023 Income Big cat enrichment Kumba and Vigo lion rock appeal Tiger rescue Casperfs rock Softi and Toph LOCASE Water Quality Monitoring hite-Tailed Eagles 1.929 223 1.968 330 660 (2,589) (223) {1.968) (330) (16.750) 16.750 3.740 4.912 (3,740) (953) 3,959 Total restricted funds 4,450 45,062 (26.066) {3.740) 19,706 The transfers from restrtcted funds on the LOCASE, aviary and primate rescue projects represent the expenditure incurred on the assoctated fixed asset additions which have been capitalised in these accounts. Transfers to restricted funds represent projects completed with general funds. 23
THE WILDHEART TRUST NOTES TO THE ACCOUNTS (CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 18. RESTRICTED FUNDS (cont.) Cat Enrichment- A project for animal welfare. White-Tailed Ea ght. les - An educational project supporting the ieintroduction of White-tailed Eagles on the Isle of Water Quall Monltorin A grant to fund the monitortng of water quality. Bear Pro ect - Fundraising to prowde an enclosure for rescued bears. Cra fish - Conservation project relating to the breeding and release of crayfish. Council Tree Grant- Grant for tree planting on site. 19. UNRESTRICTED FUNDS Consolidated Transfers from Balance at restricted 3111212024 Balance at 11112024 Income Expenditure General fund 1.062.327 1.831,037 {1.884.510) 123.326 1.132,180 Comparative - Consolidated Transfers Balance from Balance at restricted 3111212023 Balance at 11112023 Income Expenditure General fund 1.181.808 1.674,476 {1,797,697) 3.740 1.062,327 20. ANALYSIS OF GROUP NET ASSETS BY FUND Unrestricted Restricted Funds Funds Total Total Dec 2024 Dec 2023 Group balances Fixed assets Current assets Cash at bank Creditors due in 1 year Creditors due in more than 1 year 874.216 70.366 578.562 {247,149) 143815 874,216 847,168 70,366 88,996 740,288 523,440 (247.149) (194,770) 143 815 182 801 161.726 1.132.180 161,726 1,293,906 1.082,033 Included in the comparative figures was £19,706 of restricted funds wilhin the total cash at bank. 24
THE WILDHEART TRUST NOTES TO THE ACCOUNTS {CONT) FOR THE YEAR ENDED 31 DECEMBER 2024 21. LEASING COMMITMENTS At the reporting date. the Trust had the following minimum future lease commitments under non<ancellable operating leases. which fall due as follows: Dec 2024 Dec 2023 Land & buildings Land & Buildings Other other Within one year Beeen two and five years In over fNe years 92.625 370,500 8.151.000 74.120 296.480 6.596.680 8.614.125 6.967,280 The operating leases for land and buildings represent a 99-year lease between the Charity and Miss C Corney, a trustee of the Charity (until resignation on 2111212023). The lease indudes a provision for three-yearly upward rent reviews based on increases (if any) in a specified retail price index. 22. RELATED PARTY TRANSACTIONS The Wildheart Trust Trading Limited At the balance sheet date the subsidiary company, The Wldheart Trust Trading Limited, was owed from the Charity £21.274 (2023- £3,984). Miss C Corney A former trustee, Miss C Corney. recesved £74.120 (2023 - £74.120) in respect of rental. An accrual for rental arrears of £32.000 was also provided for at the year end. Donattons from Trustees During the period. donations of £Nil (2023 - £Nil) were received from Trustees. 25