2023-04-30-accounts

ZSL ANNUAL REPORT Q AND ACCOUNTS 2022-23 zsl.org

CONTENTS

Pictured: Hanuman langur at London Zoo, photographed by ZSL Member Luke Capeling. Cover image: Lemur frog, by Gonçalo M. Rosa, Honorary Research Associate at ZSL’s Institute of Zoology. Read more about Gonçalo’s work to understand the lemur frog’s apparent immunity to chytrid on page 32.

WELCOME

Our President and CEO introduce our review of 1 May 2022 to 30 April 2023.

We share the privilege of leading ZSL – one of the UK’s leading conservation organisations. Everything ZSL does is to protect and strengthen nature. Commitment to this mission runs deep through the organisation and all of our people. Helped by our internal One ZSL conference, the past year has seen us cohere more tightly around our mission and make progress on several fronts. These range from contributing to the creation of global biodiversity frameworks, to releasing Partula snails in Polynesia to bring them back from extinction in the wild.

Science underpins all of our efforts. Our research informs not just our own conservation work, but helps governments around the world set national and multilateral targets and adapt their policies accordingly. The Living Planet Index is widely used to measure progress towards the biodiversity targets set in Montreal in 2022, as is our work with the IUCN Red List. We are at the forefront of research into zoonotic diseases that spread from wildlife to humans, as well as animal-specific diseases like chytridiomycosis, the fungal infection behind the global decline of amphibians. Our expertise in the health of marine mammals informs UK Government policy.

Our field conservation work has continued strongly in the past year, from the Thames Estuary to West Africa. Nepal and India have both declared a rise in tiger populations, thanks in part to our support. We sent several zookeepers to Mauritius to support Mauritius kestrel and pink pigeon recovery programmes.

And our mangrove replanting in the Philippines is helping to restore vital coastal habitat for people and wildlife.

Over the past year, we also increased our communications about the importance of protecting nature and how ZSL is supporting that goal. A Channel 4 documentary about our Zoos in December 2022 was watched by over two million people, and over 4,000 articles about our science and conservation were published this year. Our new websites and brand framework are helping us tell better, more engaging stories and to reach more people. Next year we shall make more use of social media and be more relentless in our conservation messages. We shall increase our focus on policy and campaigns, driving support for our work and our values.

All this comes together in our two Zoos, which remain critical not just for our conservation efforts but also for inspiring vast numbers of people about wildlife and nature. Despite the cost-of-living crisis, and the residual effects of the Covid-19 pandemic on international travel, London and Whipsnade Zoos have seen a welcome growth in visitors – Zoo

10 October 2023 Professor Sir Jim Smith FRS President

visitor numbers are 7% up on 2019 – and we’ve successfully held onto the increase of members achieved since 2020.

We continue to make everything we do more inclusive, from our approach to conservation to installing Changing Room facilities at Whipsnade. The offer of discounted tickets to families on benefits allowed over 186,000 people to visit who might not otherwise have been able to do so.

We know that conservation works. The work of ZSL is demonstrably stopping species from going extinct. But for us to have more impact, conservation itself needs to change. We need to harness markets, improve supply chains, and tie capital to nature. We need to ensure that nature is central to every government policy. We need to make better use of science, technology and data, and let the communities most affected by biodiversity loss and climate change take the lead. We need to inspire new generations to care about nature and grow new leaders for conservation. ZSL is well placed to contribute to this shift. We look forward to leading these efforts in the coming years.

10 October 2023 Matthew Gould CMG MBE CEO

WELCOME

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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OUR VISION AND PURPOSE

Welcome

OUR VISION AND PURPOSE

Our targets for 2022–23

VISION

Our ambition for the world we want to create

A world where wildlife thrives

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

PURPOSE

The role we play in the world

HOW WE DO IT

What we do every day to achieve our purpose

IMPACT AREAS We focus on these areas to help us deliver our vision

We work to restore wildlife by protecting critical species, restoring ecosystems, helping people and wildlife live together and inspiring support for nature – all driven by science.

We do innovative conservation in the UK and around the world, driven by science and supported by our Zoos.

Living with wildlife

Inspiring change

Protecting species

Restoring ecosystems

Collaborating with communities to help people and wildlife live better together.

Identifying species most at risk and creating routes to recovery.

Bringing people closer to nature, inspiring them to love and care about wildlife and growing a movement of conservationists.

Working to rebuild healthier, resilient habitats for the benefit of wildlife, people and the planet.

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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OUR TARGETS FOR 2022–23				Welcome
				Our vision
				and purpose
What we said we would do in last year’s Report				OUR TARGETS
Open Monkey Valley at London Zoo		SEE PAGE 41	✓	FOR 2022–23 Our global impact
				Protecting
Open a new home for our reptiles and amphibians at London Zoo, The	Secret Life of Reptiles	SEE PAGE 45	IN PROGRESS	species
Support communities living alongside wildlife in Nepal and Kenya, with funding from UK Aid Match and Amphibians, in 2023		SEE PAGE 19	✓	Living with wildlife Restoring ecosystems
Launch a new initiative to restore Extinct in the Wild species to the wild		SEE PAGE 14	IN PROGRESS	Inspiring change
Drive the global policy agenda, by pushing for ambitious targets at the Convention on Biological Diversity Champion conservation of the Indian Ocean at the UN Ocean Conference		SEE PAGE 39 SEE PAGE 10	✓ ✓	Making our work possible Sustainability Governance and risk
Scale up our work restoring coastal habitats, such as mangroves in the Philippines, and oyster beds and seagrasses in the UK Launch a new partnership to investigate amphibian disease with the Leverhulme Trust-funded Holobiont Centre Expand our badger vaccination programme		SEE PAGE 32 SEE PAGE 34 SEE PAGE 30	IN PROGRESS ✓ ✓	Financial summary Auditor’s report Financial statements
Expand our work monitoring whale, dolphin, porpoise and shark stranding around England and Wales to include seals		SEE PAGE 33	✓	5
Expand our work with the Wellcome Sanger Institute to include tissues collected from a range of animals at our Zoo, research that will help us understand animal ageing and mutations		SEE PAGE 13	✓	Annual Report and Accounts 2022–23
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OUR GLOBAL IMPACT

We work in biodiverse regions of the world to restore wildlife and rebuild healthy ecosystems.

We collaborate with local, national and international partners to deliver conservation on the ground, while building networks to share results, knowledge and capacity in order to scale up our impact to a global level. This map shows the location of projects we are involved in and describes some of the key regions we are focused on.

We work in areas where our expertise in science-led conservation can make the most difference to the protection of species: where we can reduce species extinction risk, improve ecosystem health, strengthen human wildlife coexistence and inspire change through close collaboration with local partners.

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INDIAN OCEAN

We lead a conservation science programme across the Indian Ocean, involving over 20 research organisations. It seeks to improve our understanding of how marine protected areas support the preservation of marine species, and to identify ways of conserving coral reef ecosystems. Understanding the effects of human activity, such as plastic pollution, overfishing and climate change, are key to our work.

SOUTH ASIA

UK

In the UK, our two conservation Zoos help us to educate and inspire millions of visitors to respect and protect wildlife. The Zoos are also home to scientific research, veterinary work and international conservation. They act as a hub for projects including the study of amphibians affected by chytrid fungus, the reintroduction of native dormice, the vaccination of badgers against TB, the monitoring of life in London and the wider Thames area, and the restoration of coastal marine ecosystems around the UK.

In India and Nepal, we are working with both Governments to conserve the Terai Arc, a transboundary landscape of temperate forest and rich grassland that supports Asian elephants, greater one-horned rhinos, gharial, Bengal tigers and pangolins. We work closely with local communities on the edges of protected areas to develop sustainable, nature-based livelihoods and improve coexistence with wildlife.

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EAST AFRICA
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CENTRAL AFRICA

We work in Cameroon, Gabon and the Republic of the Congo to support the management of protected areas and transboundary forests, and the sustainable practices of palm oil, timber, pulp and rubber companies operating in the area. A specific focus of our work is the protection of the TRIDOM (Tri-National Dja-Odzala-Minkébé) transboundary landscape, home to African forest elephants, western lowland gorillas and chimpanzees, and a vital part of the Congo Basin – the world’s second largest rainforest.

We support local partners in the conservation of key ecosystem engineer species, such as the black rhino, African wild dog and cheetah, across major savannah ecosystems. Our goal is to improve connectivity and coordinated action between countries: Kenya and Tanzania are two of 18 countries across Africa where we support local conservation and capacity building, while in Mozambique, our focus is on helping coastal communities improve livelihoods through locally led marine protection combined with sustainable fishing practices.

Welcome

Our vision and purpose

Our targets for 2022–23

OUR GLOBAL IMPACT

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary Auditor’s report

Financial statements

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Welcome

Our vision and purpose

SPECIES

We are working at the cutting edge of conservation to help identify species most at risk and create routes to recovery.

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Our targets for 2022–23

Our global impact

PROTECTING SPECIES

What’s next?

Impact through science

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

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Governance and risk

Financial summary Auditor’s report

Pictured: A member of our veterinary team performing a health examination on a red kite, prior to its translocation to Spain. We are part of the project restoring this bird of prey, with numbers having drastically declined in the country.

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With a situational baseline identified, we mobilise teams to address the issues. This could take the form of a policy action to improve protection for a species, as with European eels, or the implementation of coexistence projects to mitigate human-wildlife conflict, as with Asian elephants. One of the greatest threats amphibians face is health-related – the spread of chytrid fungi and ranavirus – so our efforts are focused on mitigating the diseases, while for species like the pangolin the greatest way we can effect positive change is through interventions in the illegal wildlife trade. Some species might require a broader, ecosystem restoration approach to secure their long-term future.

Left: We’re working in the Indian Ocean to monitor and conserve coral reef inhabitants, including reef sharks. Below: Our conservation Zoos are involved in the conservation of threatened coral reef species. Bottom right: One of several cheetahs fitted with tracking collars in the Serengeti. We lead an Africa-wide cheetah conservation programme.

For some species, the threats they face are so great that they have already largely or completely disappeared from the wild. Our two conservation Zoos provide a home for around half of the world’s Extinct in the Wild animal species, and a total of 173 species that are threatened with extinction. Preserving those species in our Zoos is only the first step in a longer process of conservation breeding, release site identification and threat removal before we can reach the ultimate goal of returning individuals to the wild – as we have done with French Polynesia’s tree snails (page 14). Underpinning any reintroduction or translocation are our team of veterinarians, who interrogate the health risks to introduced and existing wildlife to ensure the welfare of all.

We protect species, and ensure their continued survival, by bringing together our two conservation Zoos, London and Whipsnade Zoo, with our Institute of Zoology, and our field programmes around the world. The combined expertise of zookeepers, veterinarians, scientists and conservationists in the field sets us apart.

Work often begins by developing our understanding of wildlife populations, their behaviours and the threats they face. For example, our marine science programme in the Indian Ocean brings together animal monitoring experts and data analysts from across ZSL.

Expertise from our zookeepers can be crucial to monitoring cryptic species, like amphibians in Vietnam (page 9), and enabling the development of monitoring techniques in the Zoos for use in the wild, such as radio-tracking collars on our African wild dogs. Knowledge gained is shared with key stakeholders, such as the IUCN, and informs leading datasets including the Red List, Living Planet Index and EDGE.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact PROTECTING SPECIES

What’s next?

Impact through science

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary Auditor’s report

Financial statements

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PROTECTING SPECIES

Welcome

new landscapes in southern and eastern Africa, increasing the landscapes we operate in to seven, and improving in-country capacity for cheetah conservation. We launched our new Cheetah Conservation Initiative Scholarship to develop leadership in cheetah conservation, with three MSc students and two PhD candidates selected for support. Outside of this scheme, we also supported students in Angola, Namibia, Tanzania and Benin and initiated a new collaborative project to build government capacity for surveying cheetahs across the Horn of Africa. Other activities include biodiversity assessments in Angola to support the potential creation of a new conservation area and, in the Serengeti, fitting satellite tracking collars to six cheetahs to understand their movements.

SUPPORTING LARGE CARNIVORE RECOVERIES

As well as our work to support tigers in Nepal (see page 19) and India, we are a leader in cheetah conservation. Fewer than 7,000 cheetahs survive today, distributed over three million km[2] covering 20 countries, where they face multiple threats, particularly on unprotected lands. This year, the Africa Range-wide Cheetah Conservation Initiative, funded by the Howard G. Buffett Foundation, has focused on two key objectives – developing projects in three

CONSERVING VIETNAM’S AMPHIBIANS

Vietnam’s amphibians are both poorly known and highly threatened, facing one of the highest deforestation rates on the planet. We have been working in northern Vietnam, alongside our partners, to study and conserve amphibians in the remote Hoang Lien Range since 2017 and have described five species of frog as new to science in that time. We have also built local conservation capacity by training local biologists and National Park staff in amphibian survey techniques and through our EDGE Fellowship programme (see page 11).

Left: We lead a continent-wide programme for the conservation of Africa’s cheetah. Above: The Botsford’s leaf-litter frog, one of five new species described since 2017. Image © Luan Thanh Nguyen

Our vision and purpose

Our targets for 2022–23

Our global impact

PROTECTING SPECIES

What’s next?

Impact through science

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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Important Bird and Biodiversity Area (IBA) programme, we have already identified four island clusters in the Chagos Archipelago as IBAs and this year put forward plans for the first open ocean IBA. If successful it will be a huge step towards protecting seabirds in the region.

FURTHERING MARINE SCIENCE IN THE INDIAN OCEAN

We lead 73 scientists, from 22 global institutions across 11 countries, working in the Indian Ocean to improve the protection of marine biodiversity and inform conservation, management and policy in the region. The project is supported by the Bertarelli Foundation, and this year was the busiest since the programme’s inception in 2017 – seeing 13 teams spending a total of 2,225 days gathering data. Expeditions deployed dive teams and oceanographic equipment, seabird researchers camped for weeks on remote islands and researchers tracked turtles throughout breeding seasons. In 2022 the project produced 28 scientific papers, bringing the total published by the programme to 149.

We’re also working to increase the conservation capacity in the region and remove barriers to marine science for researchers from developing countries. We championed this at the UN Ocean Conference in 2022 and, through the programme, we support several early career researchers in postgraduate training and we also partnered with the Earth Journalist Network on a marine science training workshop for 15 journalists from 11 countries. Nineteen ocean stories were published by the journalists in a variety of media.

A major strand of our research involves understanding how seabirds use the ocean’s network of islands. With seabirds declining globally and the area supporting approximately 19 million breeding seabirds of 30 species, the area is one of the most significant habitats for tropical seabirds in the world. Through the

Above: We led several expeditions to the Indian Ocean to monitor marine wildlife, including seabirds.

A BREAKTHROUGH FOR EUROPEAN EELS

European eels are classified as Critically Endangered by the IUCN. However, little has been known about their oceanic breeding grounds – until now. This year, using satellite tags to track their progress from the Azores, we published research that supports the theory that they migrate to the Sargasso Sea in the North Atlantic Ocean. Considered one of the natural world’s great mysteries, the research garnered worldwide attention, and could enable a huge step forward in understanding their complex life history and what steps we need to take to conserve them.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

PROTECTING SPECIES

What’s next?

Impact through science

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability Governance and risk

Financial summary Auditor’s report

Financial statements

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Above and below: The UK Sturgeon Alliance is working with partners in Europe to understand how sturgeon have been successfully reintroduced elsewhere. (Above image © S. Henneburg. Below image courtesy of IGB Berlin.) Bottom right: Our veterinarians are part of plans to reintroduce beavers to the UK.

RESTORING LOST AND THREATENED SPECIES

Our Disease Risk Analysis and Health Surveillance (DRAHS) programme, led by ZSL veterinarians and supported by Natural England, has been involved in the reintroduction of 41 species since its inception in 1992 (29 in the UK and 12 overseas). Our vets assess the health risks of animal reintroductions, perform health checks on wild animals during quarantine periods and monitor wildlife post-release. The team are currently involved in the reintroduction or monitoring of seven species worldwide, including assessing the disease risk of reintroducing pine martens to Devon. Our vets are closely involved in plans to reintroduce beavers to the UK and, this year, began a health surveillance project of the beavers already living near Bristol, present because of unlicensed releases.

Top left: EDGE Fellows during a visit to London Zoo. Above: Galaxy frog, photographed by EDGE fellow Rajkumar K P.

DEVELOPING IN-COUNTRY CONSERVATION CAPACITY

Our EDGE of Existence programme is the only initiative in the world focused on increasing conservation capacity for the most evolutionarily important threatened species. The programme uses the EDGE metric (Evolutionarily Distinct and Globally Endangered) to prioritise species most in need of conservation attention. To catalyse conservation action, we established the EDGE Fellowship programme that identifies, trains and mentors promising early-career conservationists to become future conservation champions for each EDGE species. Since inception, the programme has supported 137 conservationists and projects across 47 countries for more than 157 EDGE species.

We are a founding member of the UK Sturgeon Alliance, a project set up with the goal of seeing the return of two native species of sturgeon – Atlantic and European sturgeon. These armour-plated fish disappeared from our rivers 50 years ago due to overfishing and the introduction of dams and other river infrastructure. In May 2023 we published the UK Sturgeon Conservation Strategy and Action Plan, with DRAHS undertaking an analysis of the disease risk of any potential reintroduction. Any return of sturgeon to the UK will also require the restoration of habitat and migratory routes upriver.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact PROTECTING SPECIES

What’s next?

Impact through science

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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RETURNING SPECIES TO THE WILD

Our global species restoration programmes play a key role in the recovery of many threatened species, including 13 species that are already Extinct in the Wild. For some species, conservation work in the wild is not enough to ensure their long-term survival. Developing genetically diverse zoo populations is more than just a safety net; they can be used to support reintroduction projects. We play a key role in ex-situ[1] conservation projects for at least 45 species , many of which have already supported the reintroduction of animals to the wild.

A breakdown of our ex-situ conservation projects

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IUCN Red List Status

EW CR EN VU NT LC
Amphibians
Reptiles
Mammals
Birds
Fish
Invertebrates
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Population large enough for release[2,3]

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Key Birds
Species meets criteria
Fish
Species in progress towards criteria
Invertebrates
and Least Concern (LC).
Ex-situ population is demographically
and genetically viable, with
populations at several zoos involved
in a breeding programme [2]
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Potential release sites identified and are ecologically
viable with threats identified and sufficiently managed [3]
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STEPS TAKEN IN UNISON
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statuses include: Extinct in the Wild (EW), Critically Endangered (CR), Endangered (EN), Vulnerable (VU), Near Threatened (NT) and Least Concern (LC).

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Species released
into the wild [3,4]
Reintroduced population is
demographically and genetically viable [5]
26 11
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Annual Report and Accounts 2022–23

1. Excludes two bird species projects – red kite and white-tailed eagle – which involve carefully removing chicks from healthy wild populations and raising them by hand, ready for release to a new location (no ex-situ zoo population involved). 3. Excludes the eight projects that are not currently targeting release into the wild.

2. Includes two bird species not cared for at ZSL Zoos (per footnote 2) and three snail species released for research/trial purposes.

3. Excludes 11 species that have not yet been reintroduced to the wild and eight species for which release into the wild is not currently the target.

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SAFEGUARDING THREATENED SPECIES

As habitats shrink and biodiversity declines, the role of zoos only becomes more important. Our conservation Zoos care for 173 species threatened with extinction. We are part of international breeding programmes that maintain healthy populations of these species in zoos, and we share our expertise in animal care and health with other zoos and conservationists working in the field. Our curatorial and zookeeping teams are experts in the successful breeding of animals and lead the coordination of the European breeding programmes for several species, including the Critically Endangered Sumatran tiger.

This year we celebrated some significant births and arrivals of threatened species to our Zoos. Births included: a Socorro dove (EW), 14 Père David’s deer (EW), 1,764 Partula tree snails (EW and CR), three Sumatran tigers (CR), a big-headed turtle (CR), a Rüppell’s griffon vulture (CR), two blue-throated macaws (CR) and an Asian elephant (EN). Arrivals included: a western lowland gorilla (CR), a pair of Javan green magpies (CR), three pairs of Vietnam pheasants (CR) and a golden-headed lion tamarin (EN).*

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vets trained this year, through our partnerships with conservation organisations such as ECZM and RVC, and through our own Interventions in Wild Animal Health course

Right: A Critically Endangered Rüppell’s griffon vulture being handraised at London Zoo. Bottom right: An Endangered Asiatic lion undergoing a CT scan at London Zoo. Bottom left: 1,764 Partula snails, bred at London and Whipsnade Zoos, were reintroduced to Polynesia.

Integral to the care of our animals and the success of our breeding programmes is a worldleading team of veterinarians and veterinary nurses. Care for over 530 species at our Zoos is hugely varied, ranging from physical exams or administering medication to surgery in our veterinary hospital, and we train many of our animals so that they can voluntarily undergo health checks or injections to minimise stress. Two major achievements this year were the successful CT scan of our male Asiatic lion to identify the source of chronic ear infections, and the preparation of our troop of colobus monkeys for their move to the new Monkey Valley exhibit.

Alongside the care of our animals, the team contribute to wider veterinary knowledge through the training of veterinarians and conservationists, in partnership with organisations including London’s Royal Veterinary College (RVC) and the European College of Zoological Medicine (ECZM), and through peer-reviewed journals. The team authored and co-authored 25 publications in 2022. One of our research projects involves the study of how animals age and develop cancer. Led by the Wellcome Sanger Institute, the study discovered that cells mutate at a rate inversely proportional to the lifespan of the animal. It was the cover story of Nature in April 2022, featured nine ZSL co-authors and has been cited over 160 times. The work has since expanded to include the study of ageing of blood cells.

Our expertise in animal care and wildlife health is also a valuable asset for field conservation. One example is the support the zookeepers in our bird team provide to the Mauritian Wildlife Foundation and National Parks and Conservation Service for the recovery of threatened bird species. This year we sent two bird keepers to assist with the incubation and hand-rearing of Endangered Mauritius kestrels, to aid efforts to grow existing subpopulations on the island, resulting in the release of six young birds to the wild.

*EW – Extinct in the Wild, CR – Critically Endangered, EN – Endangered

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

PROTECTING SPECIES

What’s next?

Impact through science

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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RETURNING EXTINCT SPECIES TO THE WILD

We are working with partners to launch a global Extinct in the Wild initiative, designed to drive funding and support to the restoration of species that are (or at risk of becoming) Extinct in the Wild. We have appointed a programme manager to oversee the initiative, published the academic basis for the initiative in the journal Science , and are starting with work on key priority species, including the Socorro dove, Partula snails, scimitar-horned oryx and sihek.

Our Zoos are involved in the reintroduction, or plans for reintroduction, of several of the Extinct in the Wild (EW) species we care for. The Socorro dove disappeared from its native island of Socorro, 600 miles west of Mexico, in the 1970s, following the arrival of feral cats. This year, a delegation including our Curator of Birds travelled to Mexico to meet members of the Mexican Government to discuss plans for their reintroduction. We are also working with partners in Mexico towards the reintroduction of three species of EW pupfish. The three species are only cared for at two other zoos, and the initial stage of the project involves helping to set up pupfish breeding facilities in Mexico, as well as restoring the habitat at potential reintroduction sites.

PROTECTING FRESHWATER FISH FROM EXTINCTION

We house three species of Critically Endangered killifish from Turkey and, this year, received news that one of them, the Acigol killifish, could be on the brink of extinction. Working alongside Hacettepe University, a freshwater fish expert from Whipsnade Zoo journeyed to Turkey to undertake an assessment of the situation – confirming fears that the killifish was disappearing. Working alongside the university, we secured help from the General Directorate of Fisheries to set up breeding facilities for the fish in Antalya, and a back-up population will also be set up at the university. The next stage of the project will attempt to restore the habitat and ensure the survival of the Acigol killifish.

This year, 1,764 Partula tree snails bred at London and Whipsnade Zoos and partner zoos joined an international initiative to reintroduce over 5,000 snails to their French Polynesian islands – making it the largest release of EW species in history. Over the past nine years we have helped reintroduce over 20,000 Partula snails, including 11 EW species and subspecies.

Above: We celebrated the hatching of a Socorro dove this year, and are part of plans to reintroduce the Extinct in the Wild bird to Mexico.

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Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

PROTECTING SPECIES

What’s next?

Impact through science

Living with wildlife

Restoring ecosystems Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary Auditor’s report

Financial statements

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WHAT’S NEXT?

A look ahead at the 2023–24 financial year

OPERATION PANGOLIN

In the coming year, we will begin a major new project designed to tackle the illegal wildlife trade of pangolins, the world’s most trafficked animal. Working alongside Florida International University, the IUCN’s Pangolin Specialist Group, the University of Oxford and several other partners, the project will bring to bear the latest advances in artificial intelligence, monitoring technology and big data for the conservation of pangolins across central Africa. Our focus will be on delivering Operation Pangolin in Cameroon, where we already have a field office, and conducting the fieldwork required to get the project off the ground.

Above: Operation Pangolin is a major partnership to tackle the illegal wildlife trade. Below: We have begun a new project supporting water vole recovery in London.

WATER VOLE RECOVERY IN LONDON

In January 2023 we secured support from the Mayor of London’s Rewild Fund for a water vole recovery project and will spend the coming year building the project and partnerships with stakeholders. The UK’s water vole numbers have declined by an estimated 93% and, though we know there are remnant populations in London, there is no clear research on where they are. Initial steps of the project involve surveys of the Thames and other rivers to establish the existing population, and a communications campaign to the public, asking them to log water vole sightings and sightings of the invasive American mink, which has contributed to the decline of water voles.

AN ALLIANCE FOR SPECIES ON THE EDGE

We have launched a new partnership, the EDGE Alliance, that will help us upscale our collective efforts to conserve the world’s EDGE species (see page 11). The Alliance brings together Durrell Wildlife Conservation Trust, On the Edge, Re:wild, Royal Botanic Gardens Kew, Synchronicity Earth and ZSL. Over the coming year we will be working together to launch the EDGE Protected and Conserved Area Fund, a $5 million initiative supported by the Rainforest Trust. The fund will provide grants and support to local NGOs focused on creating or expanding protected areas for EDGE species.

CONSERVING THE WORLD’S MOST THREATENED BUFFALO

The tamaraw, or Philippine dwarf buffalo, is a Critically Endangered species of mammal, endemic to the island of Mindoro. Despite being considered a national symbol of the Philippines and featuring prominently in the country’s culture, the species underwent rapid population decline in the 20th century and now survives in three isolated populations with approximately 200 animals remaining. In the coming year we will be supporting a local partner in the Philippines to increase frontline tamaraw protection. We are also working on a metapopulation management feasibility study to assess the best ways to reconnect and strengthen the isolated tamaraw populations and ensure a genetically viable population.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

PROTECTING SPECIES

What’s next?

Impact through science

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

PROTECTING SPECIES

What’s next?

Impact through science

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary Auditor’s report

Financial statements

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LIVING WITH WILDLIFE

Collaborating with communities big and small, on the ground and around the world, to help people and wildlife live better together.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

LIVING WITH WILDLIFE

What’s next?

Innovation in conservation

Restoring ecosystems Inspiring change Making our work possible Sustainability

Governance and risk

MORE THAN 300

128

7,474

24 AFRICAN GREY PARROTS

Financial summary

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Financial statements

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Pictured: We work to improve coexistence between people and megafauna, such as tigers (above), rhino (top right) and elephants (centre).

Living alongside wildlife comes with many challenges, a myriad of which we do not face in the UK. Sharing habitats with elephants, tigers and rhinos can be dangerous, and there is often significant financial incentive to convert land for agriculture.

The presence of elephants in an area can discourage some parents from sending their children to school. Primates and wild pigs are very adept and determined when it comes to stealing crops. The financial reward of collecting and selling a pangolin to a smuggler might be great when other opportunities to earn money are few.

However, without key environmental functions, such as fruit-eating animals spreading seeds in their droppings, many of our forests will cease to function – and with them, much of the oxygen we breathe. Coral reefs and mangroves are essential for the life cycle of marine animals – without these habitats, ocean food chains will break down and the three billion people reliant on marine and coastal biodiversity for their livelihoods face a very bleak future. Without large mammals to graze on grasslands and recycle nutrients, the ability of our landscapes to store carbon is reduced, speeding up the impacts of climate change. In short, when nature loses, we all do.

Rebuilding positive and sustainable relationships with wildlife requires a complex and compassionate approach. We work in countries like Nepal, Kenya, the Philippines and Mozambique, alongside communities living in biodiversity hotspots, to identify how we can reduce the impacts of wildlife on community life and empower a more sustainable coexistence (page 19).

Our efforts are also focused on the illegal wildlife trade, and we work closely with law enforcement bodies around the world to help them intercept the criminal networks responsible. We also work with global commodity industries, including palm oil suppliers, to encourage greater sustainability and transparency of better environmental safeguards at source sites, such as through our SPOTT project (page 22). Closer to home, our work with Network Rail is an important example of how we work with businesses with a stake in our landscapes to manage their impact on wildlife, while still maintaining their core business function.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

LIVING WITH WILDLIFE

What’s next?

Innovation in conservation

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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LIVING WITH WILDLIFE

Collaborating with communities big and small, on the ground and around the world, to help people and wildlife live better together.

WORKING WITH COMMUNITIES TO IMPROVE LIVELIHOODS AND COEXISTENCE

In 2022, we celebrated the Nepalese Government’s announcement that tiger numbers have doubled within a decade. We have been working in Nepal for over 30 years to support the Government’s monitoring and protection of its wildlife, and this boost to the population is proof that conservation works. However, successful species recovery presents a new challenge for conservationists – how to ensure those animals can successfully coexist with humans. With growing numbers of tigers, rhinos and elephants, the task now is to ensure this doesn’t lead to an increase in conflict between wildlife and humans.

We work with several communities in Nepal, as well as Kenya, Mozambique, the Philippines, Thailand, Cameroon, Niger and Benin, to alleviate issues of conflict with wildlife. These rural communities tend to be remote and located on the edge of national parks or areas of rich biodiversity. They are therefore at most risk of encountering wildlife – often when animals raid crops or prey on livestock – and are likely to be among the most cash-poor of rural populations. They are often heavily reliant on collecting natural resources, like firewood, to meet household needs.

Our approach is to improve these communities’ access to financial and government services and encourage wildlife-friendly livelihoods. Once a relationship with a community is established, we help them set up a community bank – a way of communally saving and investing in the development of the community and its local businesses. We also help community members adopt new livelihoods such as sustainable agriculture, farming or new trades that are locally in demand. Together, these help to improve economic resilience while reducing reliance on natural resources, the likelihood of coming into conflict with wildlife and susceptibility to engaging in wildlife crime.

One of our flagship projects, funded by UK Aid Match, works with villagers living near Nepal’s Chitwan National Park and Kenya’s Tsavo West National Park. Having established community banks in two Nepalese and two Kenyan communities, our work this year has focused on training and mentoring members of the communities and ensuring the long-term success of the project. As well as supporting several new businesses, like poultry farms and beauty salons, funds from the community banks have been put into human-wildlife conflict mitigation measures, including building predator-proof corrals for livestock or planting alternative crops that are less attractive to wildlife. Nearly 200 households have implemented mitigation strategies, with the aim of reducing the effects and lost income of living alongside wildlife. We will be monitoring the success of these techniques to inform future projects. Another goal of the project has been to build relationships between the communities and the conservation and government agencies working in the national parks. This year we held 15 meetings in Kenya and 32 in Nepal, giving local people a chance to share their knowledge and voice their issues.

Above: Our work with communities in Nepal includes helping them to improve protection for their livestock and reducing the risks of conflict with tigers.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

LIVING WITH WILDLIFE

What’s next?

Innovation in conservation

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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LIVING WITH TIGERS

----- Start of picture text -----
Tiger numbers have more than doubled across Nepal between Nandhaur Wildlife Bardia National Banke National Chitwan National
2010 and 2022. While this is an incredible achievement, it increases Sanctuary Park Park Park
the risk of encounters with tigers for the local communities in
southern Nepal. We are working closely with the communities who Tiger population Tiger population Tiger population Tiger population
live with tigers to minimise conflict and support coexistence. We 125 128
93
have two programmes, one focusing on Chitwan National Park and 50
the other, the Integrated Tiger Habitat Conservation Programme 11 33 4 25
(ITHCP), working across three national parks in Nepal and one
wildlife sanctuary in India.
2016 2022 2014 2022 2014 2022 2014 2022
Our work in Nepal is a collaboration with the Government of Nepal,
South Asia Wildlife Enforcement Network, The National Trust for People who accessed People who accessed People who accessed People who accessed
Nature Conservation and Himalayan Nature. It is funded through training or financial support training or financial support training or financial support training or financial support
German Cooperation, IUCN, KfW and UK Aid Match. 776 823 463 409
ITHCP ITHCP
159% [average ]
improvement in 85% [increase in] Shuklaphanta
livelihood security and
community attitudes National Park
22% [ rise in average ]
towards tigers and their
conservation household savings Tiger population India
China
Nepal
People’s attitudes
People’s resilience 36
towards tigers have has improved 17 Nepal India
improved Sudur
Pashchim
2014 2022 Karnali
COEXISTENCE People who accessed
training or financial support Gandaki
WITH TIGERS HAS
IMPROVED Lumbini
657
Overall growth in tiger population [1] Bagmati
The community are Koshi
involved in decisions People’s impct 347
on tigers has been Madhesh
about how to reduce minimal 202
conflict with tigers
32 [community meetings ]
and drop-in sessions where community 0 [tigers have been] 20
killed in retaliation
members can discuss
since 2020 2014 [2] 2022 Annual Report
tiger conservation and
conflict management 1. Shows tiger population growth in five protected areas and Accounts
where we work. 2022–23
2. With exception of tiger census in Nandhaur Wildlife
CHITWAN ITHCP & CHITWAN
Sanctuary, which took place in 2016. zsl.org
----- End of picture text -----

DISRUPTING ILLEGAL WILDLIFE TRADE

The illegal wildlife trade is the world’s fourth largest illegal activity, behind arms, drugs and human trafficking, and is often run by the same criminal syndicates. It’s worth around $23 billion a year and leaves a trail of destruction – wiping out species, exploiting local people and destroying lives. For law enforcement agencies in developing countries, with already stretched resources, professionalised wildlife crime can be a huge challenge to police.

Pictured: We delivered training courses to rangers in Niger, Benin, Mongolia and the Philippines, on topics that include forensic techniques (right, bottom left) and first aid (top left).

We support government agencies working in wildlife crime hotspots around the world. Our projects aim to disrupt different points in the illegal wildlife trade chain, from training rangers to prevent poaching taking place in the first place, to detecting illegal shipments at customs, to improving the success of legal cases against traffickers. We collaborate with several UK law enforcement agencies, such as Border Force and the London Metropolitan Police, to share their expertise with overseas law enforcement officials.

This year we delivered training courses to law enforcement in Niger, Benin, Mongolia and the Philippines. Subjects covered in the courses include: crime scene investigation, first aid, intelligence gathering and forensics. All courses include sessions on human rights and our training is underpinned by the principles of policing by consent: transparency, integrity and accountability. Our training led to the detection of several wildlife products by officers who attended the courses, including trafficked ostriches, African grey parrots and commercial quantities of reptile skins and elephant meat.

Detection dogs are a vital tool in the fight against illegal wildlife crime; they can be trained to identify animal products in the same way they are used to detect drugs and explosives. We are working in Mongolia and Thailand, two countries that have their own wildlife crime but are also used by traffickers as a transit route, to support their canine units. In Mongolia, we delivered training alongside West Midlands Police, instructing the officers on how to train canines for scent detection and working with the dogs themselves to improve their skills. In Thailand, a hotspot for pangolin smugglers, we helped establish a partnership with the London Metropolitan Police, who will help identify the canine needs of the Thai law enforcement – including procurement, training and welfare standards.

OVER 300

law enforcement officers trained in a wide range of wildlife crime investigation techniques this year

1,851 illicit wildlife trade advertisements, involving over 67 different species, uncovered by our Thailand team

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

LIVING WITH WILDLIFE

What’s next?

Innovation in conservation

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary Auditor’s report

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21

Annual Report and Accounts 2022–23

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on biodiversity and finance, training four leading international financial institutions – Scottish Widows, PGGM, Norges Bank and Marshall Wace. The training will help financial institutions engage more effectively with the companies they invest in on key topics such as deforestation, traceability and indigenous rights.

of their reporting on environmental, social and governance issues. In March 2023, we published a report on the alarming lack of traceability in rubber supply chains – 79% of the natural rubber manufacturers we assessed are yet to publicly claim traceability for the rubber they use and just two companies, Michelin and Bridgestone, can trace some rubber back to the area it was harvested. This lack of traceability increases the risks of deforestation, biodiversity loss and rights abuses. To counter this, we recently joined the Investor Working Group on a Deforestation-free Automotive Industry. The group of investors intend to use their combined financial power to influence major tyre makers and improve the sustainability of global rubber supply chains.

In the UK, we began working with Network Rail – one of the UK’s largest landowners – to support their biodiversity targets. The pilot phase of the project has involved trialling novel technology for monitoring trackside biodiversity. We deployed camera traps and acoustic sensors in a sample of sites across Greater London. We are now working with Google Cloud to develop AI technology that will help us process the 1.2 terabytes of sound files and 160,000 images. The next stage of the project, beginning in March 2023, has seen us start to evaluate the importance of trackside habitat for biodiversity, in both rural and urban environments, as well as to scope out methods and technologies for remotely monitoring biodiversity at Network Rail sites across the whole country.

INTEGRATING NATURE WITH BUSINESS DECISION-MAKING

Our Sustainable Business and Finance programme works with commercial organisations, financial intermediaries, communities, NGOs and governments to address challenges of habitat and biodiversity loss. Our goal is to help businesses mitigate their impacts on biodiversity and indigenous communities, and improve the transparency of commodity supply chains, such as for palm oil.

This year we began supporting SIPEF Biodiversity Indonesia (SBI), a biodiversity and conservation programme managed by palm oil company SIPEF. Alongside expert consultants in Indonesia, we have been providing training on camera trapping methodologies to support the monitoring and protection of Sumatran tigers and other important species in SBI’s 12,672 hectares of licensed forest area, located in Bengkulu, Sumatra. This year we also launched our six-session training course

Our flagship project, SPOTT (Sustainability Policy Transparency Toolkit), is an online platform that assesses 230 palm oil, timber and pulp, natural rubber and tropical forestry companies on the transparency

Pictured: Our Sustainable Business and Finance programme is designed to lessen the impact of business on the natural world, such as reducing deforestation.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

LIVING WITH WILDLIFE

What’s next?

Innovation in conservation

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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IMPROVING TRANSPARENCY IN TROPICAL COMMODITIES

Key:

Our Sustainability Policy Transparency Toolkit (SPOTT) assesses the public disclosures of the world’s foremost palm oil, tropical timber and pulp, and natural rubber companies. We assess companies against more than 180 indicators, helping fi nancial institutions and buyers understand whether the companies they are engaging with publicly disclose policies on behaving responsibly towards wildlife, people and the planet. The parts of the supply chain we assess are shown here, alongside a small number of the indicators we track.

Palm Oil Timber and Natural Rubber 2022 Pulp 2022 2022

----- Start of picture text -----
2022 Pulp 2022 2022
world’s foremost palm oil, tropical timber and
pulp, and natural rubber companies. We assess Does the company have a
companies against more than 180 indicators, time-bound commitment to
helping fi nancial institutions and buyers understand reduce GHG emissions?
whether the companies they are engaging with Does the company support the inclusion of
publicly disclose policies on behaving responsibly Positive responses: women across its operations, including
towards wildlife, people and the planet. The parts addressing any barriers they might face?
26/96 12/94 10/30
of the supply chain we assess are shown here,
alongside a small number of the indicators we track. Positive responses:
44/79 8/90 0/17
Has the company published
a biodiversity policy?
Positive responses:
1/79 2/90 1/17
Has the company committed
to no deforestation? Does the company commit to the
UN declaration on Human Rights?
Positive responses: Does the company have a
52/79 48/90 11/17 time-bound commitment to achieve Positive responses:
100% traceability to plantation level?
65/100 53/100 23/30
Positive responses:
42/98 n/a 4/25
23
Annual Report
and Accounts
2022–23
----- End of picture text -----

Developing biodiversity and living wage policies

Interholco, which manages a one million hectare concession in the Republic of the Congo, developed its fi rst biodiversity and living wage policies in 2022, alongside ZSL. The biodiversity policy commits Interholco to sustainable and nature-positive conduct, and ‘activities [that] protect and promote the development and growth of all natural ecosystems’. They developed a living wage policy using recognised methodologies to calculate an appropriate living wage above the legal minimum.

Driving signifi cant change

Palm oil refi ner Commodities House Investments Ltd (CHIL), which owns refi neries in Malaysia and Indonesia, has made signifi cant changes to its transparency since it was initially assessed by us in 2019, with a score of just 4.3% transparency. With support from our SPOTT team, CHIL has published its fi rst sustainability report, covering sustainability commitments, its supply chain, social and environmental responsibilities, transparency and grievance processes. CHIL’s score has since improved to 64.6%.

OUR ENGAGEMENT WITH COMMODITY COMPANIES

The SPOTT team update the assessment of each company annually, in a process that includes an opportunity for companies to directly work with the team to understand how to improve their score, for example by developing new policies.

This graphic shows how many companies we have engaged with during the 2022 assessment period and the impact that their level of engagement had on their scores during the assessment feedback process.

Actively engaged	Actively engaged	Actively engaged		Previous engagement	Previous engagement		Not yet engaged			Number of companies	Average transparency
											score
											change
Palm oil
										54	+4.2
										16	+0.2
										30	-0.1
Timber and Pulp										19	+3.3
										36	+0.4
										45	+0.1
Natural Rubber
										16	+3.1
										6	+3.0
										8	+0.2
							REPRESENTING COMPANIES WORTH	MANAGING
*only includes the 94 companies that are publicly 100 palm oil 100 timber and pulp					listed 30 natural rubber		>$400bn*	54 million hectares		Annual Report and Accounts 2022–23 zsl.org 24

EXPANDING OUR WORK WITH MARINE PREDATORS

Building on the success of our work to conserve Critically Endangered angelsharks across Europe and North Africa, we expanded our work in Wales under the umbrella of Project SIARC (led by ZSL and Natural Resources Wales). Using the Welsh language translation of ‘shark’ and standing for Sharks Inspiring Action and Research with Communities, the project is designed to build links between fishers, communities, government and researchers to safeguard elasmobranchs (sharks, skates and rays) in Wales. This year’s successes include working with three charter fishing boats to conduct underwater video surveys of Pen Llŷn A’r Sarnau, a Special Area of Conservation in Cardigan Bay. Analysis of the footage revealed

66 species including several elasmobranchs (including smallspotted catshark, spotted ray and tope). The project was covered by the BBC in January 2023, resulting in over 10,000 users accessing our Instant Wild platform on the day to help us identify these species in the underwater footage and driving 1,800 new users to register with the platform during the following 48 hours.

In addition, 30 beach events were organised by the North Wales Wildlife Trust to search for elasmobranch egg cases, and 7,000 of them were recorded.

We also partnered with Swansea University to engage 600 pupils at 19 primary schools with elasmobranchs and marine conservation. A major achievement of our angelshark work was the publication of an important paper on their distribution, ecology and predicted habitat in coastal Wales and the central Irish Sea.

This year, we launched a new project alongside several UK universities and the Ascension Island Government to understand the causes behind the rise in shark attacks in the island’s coastal waters. Using a combination of biotelemetry, physiological studies and environmental monitoring, we are testing theories that climate, food availability, reproduction or fisheries could be attracting sharks to shallower waters and, consequently, into conflict with people. The project

will ultimately help to establish whether recent activity spikes represent a short-term anomaly or a more systematic change in behaviour, and will explore ways to address the underlying causes to help humans and sharks coexist. The first expedition of the project was completed in March 2023, when we installed an array of acoustic receivers and oceanographic equipment and tagged 34 sharks. The movements of these animals will now be tracked for at least the next year.

Top and top right: Underwater imagery and biotelemetry will help us identify the causes behind a rising number of shark attacks around Ascension Island. Above and bottom left: Our work has helped to raise awareness for the angelshark. During the project we recorded and shared a dissection of an angelshark.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

LIVING WITH WILDLIFE

What’s next?

Innovation in conservation

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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e S 2

INNOVATION IN CONSERVATION MONITORING

In 2011, ZSL and eight other leading conservation organisations joined forces to set up SMART (Spatial Monitoring and Reporting Tool). The platform uses an app to collect real-time data from

rangers patrolling in protected areas and helps identify poaching hot spots that require additional patrols. Twelve years later, SMART is the leading software for protected area management, used at 1,100 sites in 100 countries by thousands of users. Its flexibility means it is also used by indigenous communities, in marine protected areas and as part of climate change mitigation projects. To harness this innovation and create a space for exchanging ideas, we will be holding a SMART Global Congress in early 2024, bringing together users of the platform from across the world to share their knowledge and experiences.

Far left: We will hold a SMART Global Congress in 2024, to exchange knowledge on protected area management. Left: We will be scaling up our work with communities in Nepal, promoting coexistence with large carnivores like the tiger.

SCALING UP COEXISTENCE IN NEPAL

In the coming year we will begin a major Darwinfunded project to scale up our wildlife coexistence work in lowland Nepal, with the protection of tigers, rhinos and elephants as our focus species. The project will build on the success of coexistence work in Nepal, strengthening resilience for communities living near to Bardia, Banke and Shuklaphanta National Parks. Our initial steps will be to establish relationships with these communities, working with them to understand how conflict with wildlife currently affects them and expanding our network of community-based anti-poaching units.

WILDLIFE COURSES FOR RANGERS AND SECURITY PROFESSIONALS

In the coming year, we will be launching a new project delivering wildlife handling training courses for overseas wildlife rangers and security professionals. The series of four three-week-long courses, held jointly at London and Whipsnade Zoo, is aimed at those working in protected areas, as well as security staff at borders and airports. The project is designed to prevent illegal wildlife crime and help staff dealing with confiscated animals and moving animals inside or between protected areas. Workshops, delivered by vets, keepers, curators and operational teams, will include animal handling, transportation and anaesthesia, as well as training delivered by the Heathrow Animal Reception Unit.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

LIVING WITH WILDLIFE

What’s next?

Innovation in conservation

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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----- Start of picture text -----
If adversity breeds creativity, nowhere is that
more important than in conservation. The scale
of the biodiversity crisis, and the limited budgets
of conservation organisations, demands that we
pursue every possible solution and stretch every
available donation.
Prototypes or pilot projects enable us to Seaweed is increasingly being explored
identify whether solutions are viable – for food production and bioplastics
once we’ve proved their effectiveness, and markets are expanding. Seaweed
the next stage is to scale up. Our captures carbon even more effectively
reliance on donations and grant funding than tropical forests and Coast 4C offers
makes this a challenge for conservation often-exploited farmers access to a
organisations, but one option is to transparent supply chain and prices.
‘spin out’ a successful pilot into its own With eight marine protected areas now
independent entity, setting it up to enter created, Coast 4C has an effective
a more commercial space and attract model that has secured commercial
investment. investment and will be scaled up across
Southeast Asia. We remain a partner
This year, we finalised our first spin out, and collaborator with Coast 4C, and
transitioning the Net-Works [TM] project we will use what we learn from their
into independent social enterprise development for future projects.
Coast 4C. The journey began with
INNOVATION IN research conducted at our Institute of Innovation can take many forms. In this
Zoology in 2006, developing into a case, matching the needs of coastal
collaboration between us and carpet- people and biodiversity – held together
tile manufacturer Interface Inc that by seaweed – needed its own kind
CONSERVATION:
encouraged fishing communities to of creativity. This is exactly the kind
recycle their nylon fishing nets. The of innovation we need to apply to
project was based in the Philippines – conservation on a larger scale to give
COAST 4C a global hotspot for marine biodiversity ourselves the best possible chance
– to help coastal communities improve of restoring nature and protecting the
the sustainability of marine protection by future of life everywhere.
gaining access to new revenue streams.
The project has since expanded into
sustainable seaweed farming; by
helping communities set up larger and
more effective marine protected areas,
and to embrace sustainable seaweed
farming, fish stocks have time and space
to recover and coastal communities
have access to an alternative livelihood.
----- End of picture text -----

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

LIVING WITH WILDLIFE

What’s next?

Innovation in conservation

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

Financial statements

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Welcome

Our vision and purpose

56

Our targets for 2022–23

Our global impact Protecting species

127

Living with wildlife

RESTORING ECOSYSTEMS

What’s next?

Data

Inspiring change

RESTORING ECOSYSTEMS

Working to rebuild healthier, resilient habitats for the benefit of wildlife, people and the planet

16

10

Making our work possible Sustainability

Governance and risk

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Pictured: We are working to restore oyster beds around the UK (left), seagrass meadows in the Thames Estuary (below) and mangroves in the Philippines (right).

Likewise, infectious diseases pose a growing threat to the health of wildlife, with human activities playing a key role in the spread of pathogens. One of the pathogens behind amphibian chytridiomycosis is now found on every continent where amphibians occur and is responsible for the greatest loss of biodiversity caused by any single pathogen. Our scientists are at the forefront of efforts to protect wildlife populations, producing evidence-based science that informs practical changes on the ground. Our work with Critically Endangered lemur frogs and other amphibians will help us to develop scalable chytridmitigation techniques that could arrest the decline of amphibians around the world.

We’re working around the world to rebuild and protect ecosystems. A specific area of focus is aquatic ecosystems, which are under enormous pressure from climate change, overfishing and habitat degradation.

Our conservation work in this area includes restoring rivers and intertidal seagrasses in England’s Thames River and Estuary, rebuilding native oyster reefs around the UK, helping communities manage their coastal resources in Mozambique and replanting mangroves in the Philippines.

Our conservation is always underpinned by science, and understanding ecosystems better allows us to do more effective conservation. This year our scientists collaborated on the most comprehensive classification of the world’s ecosystems ever undertaken, describing every ecosystem across land, rivers and wetlands, and seas. This has now been adopted by the UN.

One of the greatest threats to ecosystem health is the spread of wildlife disease. In the past 30 years an increased emergence of zoonoses – diseases that can pass from animals to humans, including SARS, Ebola and Zika – have threatened public health.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

RESTORING ECOSYSTEMS

What’s next?

Data

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary Auditor’s report

Financial statements

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RESTORING ECOSYSTEMS

RESTORING BRITAIN’S COASTAL HABITATS

In 2021, we began a project to restore coastal habitat in the Greater Thames Estuary, with the aim of increasing biodiversity, creating cleaner water, storing carbon and helping communities become more resilient to climate change. The 10-year programme of saltmarsh, native oyster and seagrass restoration will bring together partners, landowners and community groups across the estuary, and will stretch from Whitstable in the south to Felixstowe in the north. This year we have mapped over 50 hectares of seagrass meadows at our pilot site in the Medway Swale Estuary and conducted the first native oyster survey there. Looking ahead, we have recently secured funding under the Endangered Landscapes Programme and we will be working with partners and stakeholders in the Greater Thames Estuary to develop a masterplan for the area that will define restoration priorities for years to come.

Pictured: We launched a major 10-year programme to restore key habitats in the Thames Estuary, including native oyster beds and seagrass meadows.

Restoring the Thamescape builds on a decade of expertise in restoring native oyster beds at coastal sites across Britain. Oyster beds provide a threedimensional surface for other species to adhere to, shelter in and feed upon, as well as enhancing water quality. In the UK, we have lost an estimated 95% of our native oyster reef ecosystem. This year saw the continuation of the Essex Native Oyster Restoration Initiative, which began in 2013 and has restored 20,250m[2] of oyster habitat in the Blackwater, Crouch, Roach and Colne Estuaries Marine Conservation Zone. Our work to restore oysters continues through the Wild Oyster Project, which runs two native oyster restoration hubs in Tyne and Wear, and Conway Bay, Wales as well as emerging projects in the Greater Thames Estuary and Helford, Cornwall. Community engagement is a key part of Wild Oysters; to date we have delivered education sessions to 12,000 school students, 13,000 have accessed our free online education materials, and 250 citizen scientists have taken part in the project.

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REPLANTING MANGROVE FORESTS

We run several projects in the Philippines, aimed at protecting and re-establishing mangrove forests along key areas of the coastline. In each location we work closely with local government and coastal communities to identify and survey appropriate locations (such as abandoned fishponds), establish mangrove nurseries and organise the planting of mangroves. Our efforts are science-based, underpinned by mangrove restoration protocols established by years of experience in the field.

Above and below: We’re working with communities in the Philippines to grow and plant mangroves, to improve biodiversity and climate change resilience.

One of our largest projects is concerned with the protection of 330 hectares of mangrove forest, seagrass meadows and coastal forest on the Philippines’ largest island, Luzon. Working alongside the local municipal government in Guinayangan, our partner, the International Institute of Rural Reconstruction, and seven coastal villages, the project has trained 120 members of the community in mangrove restoration, set up several mangrove nurseries and identified eight hectares of additional land suitable for mangrove replanting.

EXPLORING GREENLAND’S DEEP-SEA HABITATS

Since 2011, our scientists have been working with Sustainable Fisheries Greenland, the Marine Stewardship Council (MSC) and the Greenland Institute of Natural Resources to explore deep-sea environments, understand fishing impacts and inform sustainable management in Greenland. Using deep-sea video cameras to gather imagery at depths of up to 1,600m, we have been documenting sensitive deep-sea species and habitats, such as corals and sponges, while measuring the impact of commercial trawling. Recent research indicates that delicate sea pens – a type of coral found in the region – are particularly affected by commercial halibut fishing. Our research continues to support MSC assessments of fishery sustainability and marine management by the Greenlandic Government, including the development of a new National Seabed Management Plan.

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UNDERSTANDING THREATS TO AMPHIBIAN HEALTH

Threatening the survival of amphibians, and the wider health of ecosystems across the globe, is the spread of the fungal disease amphibian chytridiomycosis. This disease has already contributed to the catastrophic decline of amphibians and the extinction of an estimated 90 species, and we have been at the forefront of research into the disease since it was first identified by ZSL in the 1990s. This year we began a major new project partnered with Imperial College London. Our initial role as part of the Leverhulme Trust-funded Holobiont Centre is to examine the role of the amphibian microbiome – microbial communities present on amphibian hosts – in amphibian health, from digestion through to combatting infectious disease. Further research will explore how the peptides secreted by amphibians through their skin can control the make-up of these microbial communities and their role in disease immunity.

This year we began a new project with partners studying the Critically Endangered lemur leaf frog in Costa Rica and Panama, where some populations are now showing signs of recovery. Investigating the mechanisms behind the recoveries, particularly the changes to the immune defences of the frogs, is critical to understanding how populations can recover from the pathogen and could be critical to ensuring the success of future frog reintroductions to the wild.

Pictured: We are involved in several projects working to understand and mitigate the threats of chytrid fungus, including with the lemur frog (below) in Central America.

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of seal mortality (such as bycatch and entanglement in marine plastic) and conduct surveillance for the spread of diseases, such as influenza and phocine distemper virus.

This year CSIP received additional funding from the UK Government to extend the programme – which already studies whales, dolphins,

INVESTIGATING THE CAUSES OF MARINE STRANDINGS

In October 2022, CSIP gave written and oral evidence to a Parliamentary inquiry, led by Defra, set up to investigate the issues facing marine mammals and to understand the role the UK can play in their conservation. ZSL’s programme lead, Rob Deaville, drew attention to the precarious existence of the UK’s killer whales and the vulnerability of coastal bottlenose dolphin populations. He highlighted bycatch as the primary direct driver of anthropogenic mortality of marine mammals in the UK, and talked about the pervasive threat of chemical pollutants and the importance of removing them from our ecosystems. We look forward to seeing how UK Government policy is adapted once the inquiry report is published.

One of the best ways we have of learning about the health of our marine ecosystem is investigating the health of marine animals that strand around our coastlines. Since 1990, the Cetacean Strandings Investigation Programme (CSIP) has been tasked by Defra and the Welsh Government with investigating the stranding of marine species around the English and Welsh coastline to inform our understanding of the threats these species face in our waters. This work has contributed to one of the world’s largest datasets on cetacean strandings. In June 2022, the project was broadcast to a nationwide audience in the Channel 4 documentary What Killed the Whale? , reaching an estimated 553,000 viewers.

porpoises, marine turtles and some shark species – to include seals. The funding will help us understand the drivers

Pictured: Through CSIP, we monitor stranded wildlife around the UK to identify threats to biodiversity in our waters. The research has informed UK Government policy and featured in a Channel 4 documentary.

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SHAPING WILDLIFE HEALTH POLICY

We are advocates of One Health, a unifying approach that recognises the interconnectedness between people, domestic and wild animals, plants and ecosystems, and which requires cross-sector responses to wellbeing, health and conservation.

ZSL’s Professor Andrew Cunningham is an invited representative on the One Health High-Level Expert Panel (OHHLEP) that advises the UN Quadripartite. The Quadripartite, which comprises four United Nations organisations – the Food and Agriculture Organization, the Environment Programme, World Health Organization and World Organisation for Animal Health – calls for governments to strengthen and sustain prevention of pandemics and health threats at source, targeting activities that increase the risk of zoonotic spill-over. This year, alongside other OHHLEP members, Andrew has published a paper defining One Health, and white papers on a One Health theory of change and defining the prevention of zoonotic spill-over. Following the monkeypox epidemic in 2022, he co-authored a paper arguing that the eradication of smallpox and the ending of smallpox vaccination paved the way for an orthopoxvirus pandemic. The paper also explored how the One Health approach can be applied to preventing zoonotic diseases becoming public health threats.

EXPANDING OUR BADGER VACCINATION PROGRAMME

Bovine tuberculosis (bTB), the cattle disease, affects thousands of new herds in the UK every year and presents a major challenge for farmers. The disease is largely spread between cattle but, because badgers can also transmit the disease, the UK Government licensed mass culling of badgers across over 30,000km[2] of England. For several years, we have been investigating the effectiveness of badger vaccination as a wildlife-friendly alternative. In 2021, the Government announced plans to phase out widespread badger culling and expand badger vaccination. We are helping to support this transition, gathering the evidence that farmers and policymakers need to build confidence

WHIPSNADE: A HAVEN FOR BRITISH WILDLIFE

Alongside our work across the UK and overseas, we are also working to ensure that Whipsnade Zoo is a haven for British wildlife. Its location in the Chilterns makes it a safe location for migrating birds, as well as butterflies and bats that are threatened elsewhere. We carry out annual surveys of bats, birds, reptiles, amphibians, invertebrates and fungi, and encourage staff and

that bTB can be controlled without culling wildlife. In the last year, we vaccinated more badgers, across more land, than ever before. In Cornwall, where our project is based, badger vaccination is becoming more mainstream, and we are developing plans to extend into former culling areas as cull licences expire. As well as evaluating how badger vaccination impacts bTB in badgers and cattle, we are also evaluating its social acceptability. This approach should help ensure that bTB policy benefits both farmers and wildlife.

visitors to record sightings on the iNaturalist app to help us identify areas of particular importance. Most notably, we have found that two rare bat species – the barbastelle and the Nathusius’s pipistrelle – are present at the Zoo. Visiting bird species include the osprey, sand martin and cuckoo; notable butterflies include the Duke of Burgundy, one of the UK’s rarest butterflies. This year we have established a wildlife gardening team, made up of volunteers, who are rewilding unused areas of the Zoo to support more wildlife.

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e 2

IMPROVING LANDSCAPE RESILIENCE TO ZOONOTIC DISEASE EMERGENCE

We will be supporting a wider project, led by the IUCN, to improve the resilience of central Asia to diseases that can spread from wildlife to humans (zoonotic diseases) through conservation action. The project aims to embed One Health principles, bringing together landscape conservation and species management to reduce the risk of disease spillover from wildlife to people. Our focus will be working with communities in the target countries (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan) to understand how people and wildlife currently interact in these countries and to identify and mitigate the human activities in and around protected areas that increase zoonotic disease risk.

EXPANDING OUR WORK ON BLUE CARBON FINANCING

We will complete a feasibility study for the use of blue carbon financing to support ecosystem restoration in the Philippines. Blue carbon refers to ecosystems that store large amounts of carbon, such as seagrass meadows and mangroves, and offers an opportunity for businesses looking to balance their carbon footprint. Supported by the IUCN’s Blue Carbon Accelerator Fund, the study will establish a framework for attracting private finance to ZSL’s existing ecological restoration work in the Philippines. It will be a powerful tool for mitigating climate change, improving the resilience of communities to the effects of climate change (such as flooding) and restoring a much-needed habitat for aquatic wildlife.

ACCELERATING GLOBAL MANGROVE RESTORATION

In the coming year we will begin a new project designed to accelerate global mangrove restoration. Developed within the Abu Dhabi Mangrove Initiative, jointly agreed between ZSL and the Environment Agency of Abu Dhabi, it seeks to bring together our joint expertise and experience with mangroves to boost global action. The new project will develop a training programme for countries aiming to restore their mangroves. Our focus will be on our experience with community-based initiatives in the Philippines to develop models that can be shared with other projects.

Above: Mangrove restoration is essential to biodiversity and climate change mitigation. Right: We are working in several countries to improve wildlife health and veterinary capacity.

Welcome

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Our global impact

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Living with wildlife

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OUR KEY DATASETS AND LONG-TERM PROGRAMMES INCLUDE:

• Cetacean strandings investigation programme (CSIP)

• Disease risk analysis and health surveillance (DRAHS)

• Garden wildlife health (GWH)

• Hainan gibbon conservation programme

• Hihi recovery programme

• Indian Ocean marine conservation programme

• Living Planet Index (LPI)

• Mauritius birds recovery programmes

Welcome

Our vision and purpose

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• National Red List Project

• Samburu-Laikipia wild dog project

• Serengeti cheetah project

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50

European species on the path to recovery, as highlighted in our Wildlife Comeback Report

Welcome

Our vision and purpose

Our targets for 2022–23

INSPIRING CHANGE

Bringing people closer to nature, inspiring them to love and care about wildlife and growing a movement of conservationists for the living world.

2MILLION visitors to our conservation Zoos this year

137,914

school students, teachers and other supporting adults visited our Zoos, joining 1,010 educational workshops

91 MASTERS AND 70 PHD students studied at our Institute of Zoology

208

research papers authored/ co-authored by ZSL staff and students published in peer-reviewed journals

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

INSPIRING CHANGE

What’s next?

Making our work possible Sustainability

Governance and risk

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We believe that nature is best protected when people are invested in its success. We take an interdisciplinary approach to affecting change and target different areas of society – from the general public to governments and multi-state organisations like the United Nations.

Pictured: Our conservation Zoos are the perfect environment to engage visitors and school children with our science and conservation. We are working to reduce barriers to entry and make them as accessible as possible.

Our two conservation Zoos inspire millions of people each year with the wonder of wildlife, inform them about our conservation work and empower them to take positive actions for wildlife in their own lives.

At London and Whipsnade, visitors come faceto-face with some of the world’s most incredible species, learning about the issues they face, and becoming inspired to support our work further through membership schemes and donations. We are reducing existing barriers to engaging with conservation, broadening the pool of talent and passion we can draw from to support our mission. We also work directly with schools and community organisations (page 42) to help children from all backgrounds experience the wonder of wildlife and inspire a future movement of conservationists.

Through our Conservation and Policy team, we seek to influence the rules in favour of wildlife. This year’s global summits involved governments from across the world and were a major opportunity to introduce wildlife-friendly policies at the very highest level (page 39). The successes of these summits will have a lasting impact on the future of our wildlife.

Underpinning our work with governments is our scientific research. By illustrating global wildlife population declines through our Living Planet Index (page 39), understanding the impacts of climate change on Europe’s seabirds (page 40), and determining threats to the UK’s marine mammals (page 33), we provide policymakers with the tools they need to make informed choices about where wildlife most needs help, and how to effectively deliver it.

The impact and reach of our work is amplified by our communication and engagement teams. Generating media attention and sharing our work through digital channels helps us reach new audiences and maintain important relationships with existing supporters. With the backing of media and the public we stand the best chance of driving the societal changes that are required for a world where wildlife thrives.

Welcome

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Our global impact Protecting species

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2

INSPIRING CHANGE

----- Start of picture text -----
THE LIVING PLANET INDEX
1
The global LPI shows a 69% average
decline between 1970 and 2018
-69
0
1970 1980 1990 2000 2010 2018
Index value (1970=1)
----- End of picture text -----

INFLUENCING THE POLICY LANDSCAPE

We have a long history of working within the United Nations and international conventions to champion the development, agreement, implementation and monitoring of biodiversity policy that benefits people and the planet. In 2022, we engaged in several major high-level meetings, negotiations and conferences. This included the 27th meeting of the UN Framework Convention on Climate Change (UNFCCC) in Egypt, the 19th meeting of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) in Panama, and the long-delayed 15th meeting of the Convention on Biological Diversity (CBD).

fundamental to the biennial Living Planet Report, was adopted as a component indicator. Our EDGE Index, which prioritises Evolutionarily Distinct and Globally Endangered species, was included as an indicator for two of the GBF’s goals. Other indicators that we play a major role in helping to produce, such as the Red List Index, were also included in the monitoring framework as key indicators.

the role of rewilding in adapting to climate change. This side event was supported by the ZSL report Rewilding our Cities, which was shared by more than 100 media outlets, including The Independent , Daily Mail and The Guardian .

Our work with the UNFCCC is focused on building bridges between the often-siloed work on biodiversity and climate change, highlighting the role of nature as an integral climate solution. At COP27 our focus was on the role of nature-based solutions and rewilding. We co-organised a formal side event on the benefits that can be created for biodiversity through

The CBD saw the culmination of years of engagement and advocacy for ZSL with the passage of a new global agreement on the protection, restoration and management of global biodiversity – the KunmingMontreal Global Biodiversity Framework (GBF). Our focus during negotiations was ensuring the GBF emphasised the need to halt extinctions immediately, reduce extinction risk and to increase abundance. Working with a team of partners, we were successful in ensuring these three dimensions were reflected in the GBF, though the level of ambition fell short of what we had hoped for. We also championed the adoption of biodiversity indicators to help monitor progress towards the targets. Our Living Planet Index,

Our Indicators and Assessments Unit produces several reports on the state of biodiversity that have a major impact on government policy and public discourse. The Living Planet Report , produced with WWF, is the leading report on the world’s biodiversity. Our researchers collate and analyse thousands of population trends for vertebrate species from monitoring projects across the world, producing the largest database of its kind. This year’s report showed a 69% decrease, on average, of wildlife population abundance between 1970 and 2018. Regionally, Central, South America and the Caribbean have been hit hardest – with average declines of 94% during the same 48-year window. Our work on the report was globally recognised in the media through more than 400 pieces of coverage, including Channel 4 News, The Guardian , BBC News and international titles La Repubblica , La Stampa , The Times of South Africa and Al Jazeera.

Left: Members of our delegation to the Convention on Biological Diversity (COP15).

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----- Start of picture text -----
91
Masters and 70 PhD
students studied at our
Institute of Zoology 208
research papers authored/
co-authored by ZSL staff
and students published in
Above and right: Our census of plastic
pollution on the islands of Ascension peer-reviewed journals
and St Helena revealed the pervasive
role of plastic in the marine environment.
Image of brown booby © Tobias Capel,
----- End of picture text -----

FOCUSING CLIMATE CHANGE ACTION FOR EUROPE’S SEABIRDS

Above and right: Our census of plastic pollution on the islands of Ascension and St Helena revealed the pervasive role of plastic in the marine environment. Image of brown booby © Tobias Capel, Ascension Island Government

This year, scientists in our Institute of Zoology published a new synthesis of research on the different threats climate change poses for the North-East Atlantic’s 48 seabird species, and the most effective ways of alleviating those threats for each species. The report predicts that 45 species will see a minimum of 60% of their breeding sites reduce in suitability, and that seabirds like the puffin, Arctic tern and razorbill could disappear entirely from UK shores. The report also evaluates the effectiveness of mitigation measures for each species – for example, citing the use of decoy puffins to encourage puffins to nest in new areas as particularly effective.

sinks for plastic pollution arriving from elsewhere, negatively impacting wildlife including seabirds, sea turtles and whales. The first phase of the project has focused on understanding how plastic is imported, generated, used and disposed of on the island; surveying the shoreline for plastics arriving by sea; and investigating the interactions between plastic pollution and wildlife. An initial study of 65 brown booby nests found that 23% contained plastic as nesting material. A wider aim of the project is to give the UK’s overseas territories (UKOTs) a voice at the UN’s negotiations, and we have already set up a UKOTs Plastic Pollution Steering Group, with representatives from islands in the Atlantic, Pacific and Caribbean.

INFORMING PLASTIC POLLUTION POLICY

In March 2022, UN Member States passed a landmark resolution to develop a global, legally binding Treaty to End Plastic Pollution by 2024. Over the coming months we will be using our expertise in plastic pollution, along with our experience in community-led conservation, to engage with the Treaty negotiations and to input data, evidence and learning from our portfolio of plastic pollution work.

This year we began a new project aimed at understanding the impact of plastics in the South Atlantic on the islands of Ascension and St Helena. Both islands are designated as marine protected areas by the UK Government, but both islands act as

Welcome

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----- Start of picture text -----
INSPIRING A LASTING CONNECTION
BETWEEN PEOPLE AND WILDLIFE
Our two conservation Zoos, London and Whipsnade,
provide a home for around half of the world’s Extinct
in the Wild animal species, and a total of 173 species
that are threatened with extinction. They help millions
of visitors each year to form a lasting connection
with wildlife and learn about our science and
conservation work.
This year saw the realisation of a six-year project to
reimagine the Snowdon Aviary, an icon of the London
skyline and a Grade II listed building, as a home for
our troop of colobus monkeys. Renamed Monkey
Valley, it immerses visitors in the treetop habitat of
colobus monkeys, while staying true to the vision of
the 1st Earl of Snowdon and architect Cedric Price.
The media launch for Monkey Valley generated
coverage in more than 190 media outlets, including
ITV News and the Evening Standard , encouraging
visitors to the new exhibit.
We also extended our Community Access Scheme
through our charitable partners, and launched our new,
795,665 low-price Universal Credit tickets, removing financial
barriers that prevent many from visiting our Zoos.
visitors to Whipsnade Zoo
(-6% from 21/22)
1,185,938
visitors to London Zoo
(+26% from 21/22)
Above and right: Monkey Valley,
a home for our colobus monkeys,
opened at London Zoo this year.
----- End of picture text -----*

Our two conservation Zoos, London and Whipsnade, provide a home for around half of the world’s Extinct in the Wild animal species, and a total of 173 species that are threatened with extinction. They help millions of visitors each year to form a lasting connection with wildlife and learn about our science and conservation work.

This year saw the realisation of a six-year project to reimagine the Snowdon Aviary, an icon of the London skyline and a Grade II* listed building, as a home for our troop of colobus monkeys. Renamed Monkey Valley, it immerses visitors in the treetop habitat of colobus monkeys, while staying true to the vision of the 1st Earl of Snowdon and architect Cedric Price. The media launch for Monkey Valley generated coverage in more than 190 media outlets, including ITV News and the Evening Standard , encouraging visitors to the new exhibit.

We also extended our Community Access Scheme through our charitable partners, and launched our new, low-price Universal Credit tickets, removing financial barriers that prevent many from visiting our Zoos.

Following a successful media campaign, which was featured in national media as well as in online parent groups and social media, the tickets proved hugely popular. The scheme has enabled over 186,000 visitors to be inspired by our Zoos who might otherwise not be able to afford entry, providing a day out for families struggling with the cost of living. The scheme has been particularly important for our engagement with people from minority ethnic backgrounds and those with disabilities. Of those CAS scheme users who responded to our survey, a quarter are (or visited with someone who is) from a minority ethnic background and half are (or visited with someone who is) disabled.

“ [Subsidised tickets are] vital because the kids that are coming here to see these animals, they may be otherwise inaccessible to them unless you go on holiday, which you don’t have the opportunity to. So the fact that it’s something local and they’re able to have that experience, I’m grateful that its available for them. ”

Omobola Adegoke, London Zoo visitor

66%

66% 60% of visitors said: “The Zoo of visitors said: “I feel has inspired a greater closer to nature” after appreciation of wildlife” visiting the Zoo 47% of visitors said: “I will do something to help animals” after visiting the Zoo

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INFORMING THE NEXT GENERATION

Our dedicated education teams deliver engaging lessons that support the national curriculum and provide real-life conservation learning for thousands of visiting school groups every year. This year, we welcomed 137,914 school students, teachers and other supporting adults, and we taught 1,010 educational workshops. Our workshops cover a range of topics, from the impact of threats including climate change and plastic pollution, to the role we all play in protecting endangered species and their habitats. A further 1,621 11- to 18-year-olds took part in free online opportunities to meet our science and conservation experts as part of ZSL events during Biology Week (October 2022) and British Science Week (March 2023). We also offer specific training for teachers on how to put nature at the heart of their curriculum and teach that curriculum outside of the classroom; this year we delivered training for 283 teachers, trainee teachers and school staff.

Left: We run several tours that make our Zoos more accessible for those with additional needs. Right and below: Our Zoos welcome over 100,000 school students every year.

They have booked 31,303 89 tickets

schools are part of our education access membership scheme

137,914

school children, teachers and supporting adults visited our Zoos and 31,392 took part in workshops

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IMPROVING ACCESSIBILITY TO OUR ZOOS

We continue to run several tours at both Zoos that are aimed at those with additional needs, such as audio-described tours for blind and partially sighted people. We regularly engage with local schools, groups and charities, for example running a skills and career course for Bedford Cerebral Palsy Group, and we’ve developed new community gardens at both Zoos, created to help groups learn about growing food and connecting with nature. We are also running courses in partnership with The Prince’s Trust and Groundwork, focused on developing skills, knowledge and experience for young people to move into animal based/conservation careers.

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MEASURING SUCCESS: EXPERIENCING OUR ZOOS

We measure the experience of our visitors using key metrics such as the net promoter score (NPS), which analyses their likelihood to recommend us. Several initiatives to improve visitor experience are underway at the Zoos, guided by our newly established Visitor Experience Task Force. This group utilises the wide range of visitor data available for the ultimate goal of helping to inspire more people with the wonder of wildlife.

LONDON ZOO

LIKELIHOOD TO RECOMMEND (NPS): 32 (Members 59 / Non-members 24) Future target: 45

VISIT EXCEEDED EXPECTATIONS: 54% (Members 53% / Non-members 55%) Future target: 60%

VALUE FOR MONEY: 69% OF VISITORS RATE US GOOD OR EXCELLENT (Members: 83% / Non-members: 65%) Future target: 85%

ENJOYMENT: 53% OF VISITORS RATE US EXCELLENT (Members 67% / Non-members 49%) Future target: 60%

AVERAGE STAR RATING OUT OF 5 ON TRIPADVISOR: 3.2 Future target: 4

WHIPSNADE ZOO

LIKELIHOOD TO RECOMMEND (NPS): 44 (Members 59 / Non-members 28)

Future target: 55

VISIT EXCEEDED EXPECTATIONS: 49% (Members 48% / Non-members 51%)

Future target: 52%

VALUE FOR MONEY: 75% OF VISITORS RATE US GOOD OR EXCELLENT (Members: 83% / Non-members: 67%) Future target: 85%

ENJOYMENT: 56% RATE US EXCELLENT (Members 62% / Non-members 50%) Future target: 60%

AVERAGE STAR RATING OUT OF 5 ON TRIPADVISOR: 3.3

Future target: 4

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Living with wildlife

Restoring ecosystems

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ENGAGING OUR AUDIENCES WITH WILDLIFE

Events and commercial activities help us engage new and existing audiences with the importance of wildlife and raise funds to support our Zoos and wider work. We were honoured to celebrate our royal patron, the late Queen Elizabeth II, during her Platinum Jubilee with a week-long Zoobilee event. Summer events included Summer of Colour at London, and the Ultimate Animal Challenge at Whipsnade. We also launched a series of events to celebrate key species already recognised in the calendar, such as International Tiger Day. Whipsnade partnered with Top Trumps during autumn half-term, London Zoo celebrated The Magic of Christmas throughout December, and both of our Zoos were featured in the Channel 4 documentary Christmas at London Zoo , watched by 2.1 million people.

While public concern about the impact of Covid-19 has decreased, this has been replaced by rising inflation and concerns about the cost of living – making it a challenging environment for our Zoos. Despite this, visitor numbers at London and Whipsnade Zoos were over 10% above budget and above pre-pandemic figures (London/Whipsnade: +4%/+21%). This is an impressive recovery, considering that overseas visitors are still much lower than pre-pandemic, though these numbers were driven predominantly by member visits and the low-cost tickets sold through our community access scheme and Help for Households.

Above: We encourage visits to our two conservation Zoos through special events and media coverage, such as Channel 12,890 4 documentary Christmas at London Zoo . Right: articles were published in the Despite the difficulties media about our work, including of moving animals postover 4,000 specifically about Brexit, we were delighted our science and conservation to welcome the arrival of several new animals to our Zoos, including three young brown bears.

OUR SOCIAL MEDIA PRESENCE

760K fans and followers (+6.3% on 21/22)

6.12% average post engagement rate (+103% on 21/22)

166M impressions (+2.6% on 21/22)

52K shares (-3.3% on 21/22)

WORKING WITH DOMESTIC POLICY MAKERS

Political and financial instability has hampered legislative progress in the UK, but we continue to work with Defra (Department for Environment, Food and Rural Affairs) and our sector body BIAZA (British and Irish Association of Zoos and Aquariums). We successfully lobbied for the inclusion of zoos on the list of energy-intensive industries, meaning we can apply for a discount on energy bills at a higher rate. We have consulted with the Government on the redrafting of the Secretary of State’s Standards of Modern Zoo Practice, which we must adhere to for our zoo licence. We welcome the Government’s commitments to animal welfare, conservation and education – areas in which our Zoos are already industry leaders.

This year we have increased our political engagement, hosting Ministers and Shadow Ministers onsite and engaging with over 150 MPs and Peers over the year.

We have also increased our voice in Parliament by presenting our conservation and science to a number of All-Party Parliamentary Groups (APPG), including Zoos and Aquariums APPG, International Conservation APPG and Animal Welfare APPG, as well as joining the Environment APPG. Additionally, a number of ZSL scientists have given evidence to Select Committees on a number of topics including species translocation and zoonotic diseases. We have established relationships with several political policy environment groups including the Policy Research Unit, resulting in our CEO, Matthew Gould, participating in a panel for MPs on animal welfare.

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Our vision and purpose

Our targets for 2022–23

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WHAT’S NEXT?

PLANTING NATURE AT THE CENTRE OF THE CURRICULUM

A look ahead at the 2023–24 financial year

We will be increasing our engagement with policy makers over the next year to ensure they are putting nature at the heart of the curriculum and valuing biodiversity in school grounds development. In May 2023 we submitted evidence to the UK House of Lords as part of their inquiry into education for 11- to 16-yearolds. Our evidence included research that students are not being equipped with the skills needed to progress into green careers based on the lack of climate change and biodiversity being taught in schools. We welcome the planned creation of a Natural History GCSE and will work with our local school partners to develop a learning programme to support the qualification. We are also putting pressure on policy makers to ensure that every young person spends school time in natural spaces – we do this partly through the newly formed LINK Education and Policy Group, co-chaired by our Community and Learning Manager.

Above: The Secret Life of Reptiles and Amphibians will be home to several threatened species, like the Chinese crocodile lizard. Below: Whipsnade’s Monkey Forest will be home to François’ langurs (left) and Sulawesi crested macaques (right).

A CONSERVATION CENTRE FOR THREATENED REPTILES AND AMPHIBIANS

AN IMMERSIVE SPACE FOR THREATENED ASIAN SPECIES

Whipsnade will be opening a new Monkey Forest experience in 2024. This project will utilise the natural woodland landscape to create significant indoor and outdoor space for four threatened species at Whipsnade. The new space will include two mixed homes, one for François’ langurs and babirusa, and another for Sulawesi crested macaques and lowland anoas. This development will open a new area of the Zoo for visitors and enable Passage through Asia to be explored on foot, utilising the natural landscape to curate an authentic and adventurous animal and visitor experience.

In 2023, we open London Zoo’s newest animal home, The Secret Life of Reptiles and Amphibians. The new building will be home to 31 extraordinary and rare species, including the Chinese giant salamander, Philippine crocodile and Mangshan viper. The centre has been designed using the latest research on animal behaviour and wellbeing, and will feature state-of-theart technology, allowing us to recreate habitats from around the world like never before. The improved facilities will also allow us to scale up our conservation research – many of the species cared for at London Zoo are extremely threatened and part of important global breeding programmes, and what we learn about them at the Zoo will support their conservation.

PUTTING YOUTH AT THE HEART OF ZSL DECISIONS

In June 2023 we appointed a Youth Advisory Board to help form our future decisions. The 12 board members, chosen from over 102 applicants, are a diverse group of 16- to 25-year-olds tasked with advising our Executive Committee on how best to incorporate the

needs and views of young people in our work to ensure young people are empowered and engaged with our vision. This voluntary group will produce a youth engagement action plan each year, be consulted for their perspective on projects

across the organisation and act as ambassadors for ZSL at external events. Members will sit on the board for a term of two years.

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Our vision and purpose

MAKING OUR WORK POSSIBLE

0%

752

Our targets for 2022–23

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Our supporters

Our positive impact on the world – from protecting wildlife globally to helping people learn about animals at our conservation Zoos – is underpinned by the dedication and passion of our people; ensuring their development and success is the key to ZSL’s future.

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Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Pictured: ZSL’s community of UK and overseas staff, and volunteers, are integral to creating a world where wildlife thrives.

Restoring ecosystems

Our relationship with our supporters – businesses, members, donors – is managed by the Fundraising, Marketing and Engagement team, who communicate our messages to millions each year. With inflation affecting everyone, it’s more important than ever that our supporters connect with our work and choose to support us. Our new brand, special supporter events, regular publications and online newsletters, and our wider work with the media are all ways we can help ZSL to resonate with more people and have a greater impact.

Inspiring change

MAKING OUR WORK POSSIBLE

Our people

Supporting our work

Our supporters

Sustainability

The future of our wildlife relies on a large community that includes governments, businesses, schools and the general public, all working towards a better relationship with nature.

Governance and risk

Financial summary

Nature tells us that biodiversity is core to the summary strength of any ecosystem, and we want to ensure our organisation contains as many voices, skills and cultures as possible. We have made successes, such as a zero gender pay gap, but we have a way to go Financial and are working to break down several barriers to statements conservation. These range from experiencing our Zoos, which we are doing through projects like the 47 community access scheme (page 41); to improving the Annual Report inclusion of developing nations in conservation, such and Accounts as through our work in the Indian Ocean (page 10); 2022–23 to increasing opportunities to work at ZSL, such as through apprenticeships.

Auditor’s report

At the heart of our community are our staff and volunteers, and their success and wellbeing are aided by the efforts of our People team. Having successfully navigated the Covid-19 pandemic, one of our core aims has been to re-establish the culture of collaboration that has made us so successful and break down silos in the organisation. Transitioning from one global crisis to another, we have also been supporting our staff with the strains of cost-of-living increases, offering financial and mental wellbeing support across the organisation.

ZSL is an example of such a community – from our staff and volunteers to the supporters, businesses and governments we work with – and what can be achieved by working together. Their collective support underpins the achievements discussed in this Report.

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OUR PEOPLE

Welcome

Our vision and purpose

Our targets for 2022–23

RECONNECTING AS AN ORGANISATION

In January 2023, we held a two-day One ZSL Conference. Staff and volunteers from across the Society joined us for presentations on the new ZSL brand and our conservation priorities, networking opportunities, seminars and workshops. There were a range of stalls on topics such as wellbeing, pensions, diversity groups, citizen science and our library archives. We also held a Global Conservation Meeting for our international staff, with a week of briefings, presentations, workshops and networking held at both Zoos.

78%

of colleagues gave the One ZSL Conference a 4 or 5 star rating

84%

of colleagues said they spoke to someone new during the One ZSL Conference

SUPPORTING THE WELLBEING OF OUR PEOPLE

A staff survey in April 2021 showed us that financial wellbeing was an important issue for our workforce and, with the rising cost of living, we have taken several steps to support colleagues. Our approach has included holding financial wellbeing webinars, inviting in our external finance partners for face-toface consultations, setting up exchange hubs for essential items, a cashback voucher scheme and fully paid meals for staff onsite twice a week. We surveyed our volunteers in December 2022 and have since increased their daily expenses cap, enabling them to claim expenses on travel or subsistence.

We also introduced free health checks for our staff, and we continued to run the Real Talk programme, a series of insightful conversations delivered by our staff and volunteers about their own lived experiences. The sessions have covered important topics such as mental health, race, neurodiversity, LGBTQ+ and physical disability.

Left: Our Executive Committee host a panel discussion during the One ZSL Conference. Above: Several of our staff and volunteers undertook challenges to raise funds.

Our global impact Protecting species

Living with wildlife

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MAKING OUR WORK POSSIBLE

Our people

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DRIVING DIVERSITY AND INCLUSION

Just as diversity is important for the health of any ecosystem, diversity and inclusion is key to the strength of our organisation. One of our major successes is the maintenance of our gender pay gap at 0%, against the UK median of 14.9%.

We attract a diverse pool of applicants in terms of gender (60% female) and LGBTQ+ identity (17%) and this is still reflected through each of the recruitment stages to successful offer: 60% female and 13% LGBTQIA+. Progress continues to be made in attracting applicants from minority ethnic groups: 31% of applicants were from minorities, compared to 22% in 2021. However only 14% from minority ethnic groups received an offer – this was down from 28% in 2021. There is still work to be done on attracting applications from those declaring a disability: 8% of applicants declared a disability (compared to 7% in 2021) and only 6% of successful offers made were to those who had declared a disability (8% in 2021).

Our workforce is diverse in terms of gender and sexual orientation and we are proud of this. However, we need to better reflect the diversity of the UK in terms of ethnic minority groups and disabilities; 9.5% of our workforce are from minority ethnic groups compared to the 2021 ONS census figure of 18.3% for England and Wales.

Above: Our staff took part in the London Pride Parade. Right: Staff at Whipsnade Zoo in support of Pride.

Through our EDI Steering Group, and community and learning team, we are exploring ways to improve these areas by holding focus groups with underrepresented demographics. At ZSL, we are committed to creating an organisation that celebrates diversity and fosters inclusivity, where every individual feels a sense of belonging. Those efforts were underlined by the results of a staff wellbeing survey in January 2023, when 85% of respondents said that they feel like they can be their authentic selves when working at ZSL.

Another area where we are working to improve is monitoring the diversity and representation in our overseas staff. While we have made significant gains over the past two years in collecting and sharing information about the make-up of our UK employees, we have a way to go to meet the same standards for our overseas employee data, and will be prioritising how to do this safely and transparently over the coming year. We are proud to have a localised employee model for our overseas teams: our four conservation centres in Kenya, Mongolia, Nepal and the Philippines are staffed solely by locally hired staff, while our other conservation centres in Benin, Cameroon and Thailand are complemented with minimal expatriate staff.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

MAKING OUR WORK POSSIBLE

Our people

Supporting our work

Our supporters

Sustainability

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----- Start of picture text -----
The average age of staff is 8.6 105 9.5% 8.9%
years is the average tenure members of staff of employees are from of employees identify
for UK staff work overseas minority ethnic groups as LGBTQ+
36
YEARS OLD
63% of staff are aged
647 57.2% 5.1% 20%
under 40 years old
members of staff in the UK identify as female of employees declared of employees state a
a disability religion or belief
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Pictured: Employability skills schools, like Zoo Academy, encourage young people to pursue a career in animal care and conservation.

the opportunity to explore behind the scenes in teams across the organisation, from animal care to the library, with all students reporting that the placements had supported their career aspirations.

IMPROVING ACCESS TO JOB OPPORTUNITIES

Our community and learning teams have continued to work with local schools and partnership organisations to deliver careers talks and represent ZSL at local careers fairs, speaking to over 884 students about their futures over the past year.

The team at Whipsnade Zoo expanded their work supporting local students into the animal care sector by providing one-day practical courses for Animal Management Colleges, as well as embarking on a new programme with the University of Peterborough to provide work experience for a new degree in Animal Management. We also became accredited to deliver the AQA Unit Award Scheme as well as the Royal Society of Biology’s CREST Discovery Award, awarding 616 certificates overall and giving students certificated recognition of their achievements to use towards future applications.

Employability skills courses, such as Zoo Academy, targeted at groups underrepresented in animal care and conservation, continued to be run at both Zoos, working with over 377 young people who might otherwise lack these opportunities. Our work experience programme also gave 33 young people

Since creating the Zookeeping and Aquarist apprenticeship programme in 2019, we’ve provided 30 apprenticeships, continuing to create more entry level jobs at ZSL. In 2021 we expanded these into new areas of the organisation, offering business administration apprenticeships, and we will continue this expansion over the coming year.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

MAKING OUR WORK POSSIBLE

Our people

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OVER
VOLUNTEERING AT ZSL 890
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VOLUNTEERING AT ZSL

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volunteers supported us
this year at our Zoos, donating
over 125,000 hours
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Volunteers are vitally important to our organisation and are involved in almost all areas of the charity, from supporting the smooth running of our conservation Zoos and enhancing the visitor experience to supporting UK-based and overseas fieldwork. Over 890 volunteers supported us this year at our Regent’s Park and Whipsnade sites, donating over 125,000 hours, and many more have volunteered as citizen scientists for our fieldwork projects.

New voluntary roles have been introduced to support our People and Zoo Engagement teams, and we also continued our supported volunteering scheme. Following a successful eight-week pilot in spring 2022, we now have over 20 adults with learning difficulties and disabilities participating at London Zoo each week.

We have lowered the minimum age to volunteer for many of our roles, from 18 years to 16 years, to increase the ways young people can engage with us. We will be working with the newly established Youth Advisory Board to effectively design and market these opportunities to young people.

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Pictured: Our Zoo volunteers,
wearing red uniforms, are
on hand to help the public
enjoy their visit to London and
Whipsnade Zoos.
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Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

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Restoring ecosystems

Inspiring change

MAKING OUR WORK POSSIBLE

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SUPPORTING OUR WORK

The generosity of our supporters underpins the work of our two Zoos in the UK and our conservation work around the world.

150,000

Members

MEMBERSHIP

Our Membership programme, our largest body of supporters, reached a historic milestone last year: 154,000 Members. Member sign-up has slowed significantly post-pandemic, but it remains twice as high as pre-pandemic. This year’s focus has been on retaining Members, in the face of a challenging economic climate with the cost of living rising. We have worked to foster the emotional connection between Members and our Zoos, through initiatives like Keeper Cams, exclusive Member events and other engaging Member content. Member visits to our Zoos reached over half a million this financial year, indicating how important these spaces are to our Members.

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Patrons
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4,055

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Fellows and Patron Fellows
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Above: Keeper Cams and other digital content have helped us to build a stronger relationship with our supporters. Left: ZSL Fellows are an illustrious group, including the likes of Sir David Attenborough.

FELLOWS

Our Fellowship programme, which has been running for almost 200 years, has included the likes of Charles Darwin, Joan Procter, Sir David Attenborough and Kate Humble. It remains steady at just over 4,000 Fellows. Fellowship is based on the principles of shared learning, and we regularly look for ways to establish collaboration with Fellows. This year we invited Fellows to learn about our veterinary work at Whipsnade, to contribute to the planning of our bicentenary celebrations in 2026, and to submit articles to our The Zoologist newsletter.

PATRONS

This year we celebrated a new milestone: reaching over 1,000 Patrons, the highest number in our history. Our Patronage programme is our highest tier of membership, allowing Patrons to support the work in our Zoos and overseas as well as engage with our work through special events.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

MAKING OUR WORK POSSIBLE

Our people

Supporting our work

Our supporters

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INDIVIDUALS SUPPORTING OUR WORK

Individuals support us through donations and at special events, including our Safari in the City gala. The gala was held at London Zoo in September, and featured several auctions with prizes related to our conservation work. In May 2022 we launched a new regular giving programme, Back from the Brink, encouraging monthly donations to support our global conservation work. We also launched a new fundraising challenge, Around the World in 30 Days, which asked supporters to walk, run, cycle and roll as far as they could in June to raise money for our conservation work. Over 100 supporters participated, and the coming year will focus on expanding take-up of the challenge.

We fundraised this year towards several specific goals, including the building of the new conservation centre for reptiles and amphibians at London Zoo. With the energy costs of running our Zoos quadrupling this year, and the importance of our ability to power life-support systems used in the care of our animals, we sought donations from individuals towards the running of our Zoos – and are enormously grateful for the support we received. The Denise Coates Foundation confirmed a generous donation to our conservation Zoos, purchasing new equipment for our veterinary hospital that will help us care for species across our two Zoos. Individuals were also able to support our overseas work; Pete and Val Charlton continued their incredible support of our work in Kenya with black rhinos.

Pictured: This year we encouraged staff, volunteers and supporters to walk, run, cycle and roll to raise money for our work around the world.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change MAKING OUR WORK POSSIBLE Our people

Supporting our work

Our supporters

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ENGAGING WITH BUSINESSES

Our longstanding partnership with Sky saw customers get closer to nature through a series of ticket giveaways and exclusive ‘meet the animal’ experiences, while in turn helping us drive brand awareness and engagement to millions of Sky VIP members. Longstanding sponsor Liontrust, a specialist fund management group, supported our work with Asiatic lions for the seventh year running. And this year we were pleased to welcome Fujifilm UK as a new corporate sponsor, joining as a photography partner to London Zoo.

Our corporate membership programme has also grown this year, with CSSC Sports & Leisure, Sovereign Capital Partners and Standard Chartered joining. Membership benefits such as Zoo tickets,

behind-the-scenes tours, regular e-newsletters and educational talks have provided us with opportunities to inspire and inform employees about our work and empower them to protect the planet. The scheme also offers group volunteering opportunities, and 272 volunteers from six companies joined us this year to take on tasks such as painting, gardening, cleaning enclosures, preparing animal feed and making items for the behavioural enrichment of our animals.

Several businesses have also supported us with probono services and in-kind support. Bloomberg LP, for example, supported SPOTT, our indicator framework, in providing market capitalisation data for the companies we assessed. In 2022, we were delighted to welcome western lowland gorilla Kiburi to London Zoo with help from global logistics experts DHL Express, who flew the 193kg silverback to London.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

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MAKING OUR WORK POSSIBLE Our people

22 partnerships with business

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corporate volunteers from six companies supported us, donating 1,236 hours

Left: Goldman Sachs volunteers helping with our Pengiun Beach Clean. Right: Bloomberg volunteers enhancing publicly accessible green spaces surrounding our Community and Learning Centre. Top right: Advertising of our summer event on the London Underground, sponsored by Fujifilm.

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SUPPORT FROM TRUSTS AND FOUNDATIONS

Our global conservation work would not be possible without the support of trusts and foundations around the world. We are grateful for the continued support of several long-term funders, including the UK Trust for Nature Conservation in Nepal and IUCN/KfW for funding our tiger recovery programme in Nepal; the Disney Conservation Fund for our work in the Tsavo Conservation Area of Kenya; and Fondation Segré, Fondation Franklinia and On the Edge for their ongoing support of our EDGE programme.

Players of People’s Postcode Lottery Planet Trust continued to provide core funding for several key areas of our work, including species recovery initiatives. Highlights included the largest ever release of Extinct in the Wild and Critically Endangered tree snails, to their French Polynesian island homes.

The Constance Travis Charitable Trust donated significantly to help us protect and bring species back from the brink of extinction, and John Ellerman Foundation continued their support with grants to monitor the impact of plastic on wildlife on the Ascension Islands and underpin our efforts to ensure the survival of Critically Endangered European eels.

The British Hedgehog Preservation Society continued to support London HogWatch and funded a curriculumlinked learning programmes in 30 schools, while The Levine Family Foundation funded the Our Sea Our Life programme in Mozambique.

We were delighted to receive grants from new funders. These included Central Bedfordshire Council, who awarded funding to install a new Changing Places toilet at Whipsnade Zoo. The grant comes from the Changing Places Grant Fund administered by the Department for Levelling Up, Housing and Communities and supported by Muscular Dystrophy UK.

We also welcomed new support from the Alstom Foundation to help recovery efforts in the Philippines following Typhoon Odette (Rai), and the Ecological Restoration Fund to monitor rewilding landscapes across Europe.

GENERATING FUNDS THROUGH OUR ZOO OPERATIONS

Our dedicated site operation teams deliver experiences and products for visitors to our two conservation Zoos, the income from which plays a significant role in enabling our conservation work. This year our retail teams, working with our buying and merchandising experts, achieved record incomes through our two Zoo shops and online shop. We continue to source and grow our sustainable product 88 offering, collaborating with our suppliers to create grant-making bodies ranges made from 100% supported our work recycled materials, including new ranges of soft toys, tote bags and homeware. Regular collaboration with our curators, animal teams and suppliers during the development of our products helps us stand out from the pack.

Our animal experiences and overnight stays reached over 16,000 participants across our Zoos. With an enrichment-based approach, visitors taking part get up close to some of our incredible animals, such as penguins or hippos, learn about their behaviour and find out about our wider conservation work. At London Zoo, our overnight experiences were recognised as one of the top 10 places to stay in London. At Whipsnade Zoo, we grew our Nature Nights evening tours with the support of local Girl Guide and Cub networks.

Pictured: Our shops help to raise vital funds for the running of our conservation Zoos and work around the world.

370,000 hot drinks sold across our two Zoos 536,359 sales in our two Zoo shops 16,080 visitors took part in our experiences

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

MAKING OUR WORK POSSIBLE

Our people

Supporting our work

Our supporters

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OUR SUPPORTERS

ZSL’s achievements would not be possible without the generosity of its supporters. We would like to thank all the individuals and agencies mentioned in these pages, as well as those not listed here.

Dr Robin Bidwell

ROYAL PATRONS

Beth Blood

ZSL Patron Queen Elizabeth II (until Sept 2022)

Professor Luigi Boitani

Nicholas Booth ZSL Vice-Patron His Royal Highness Dr Arlo Brady The Prince of Wales (until Sept 2022) Steven Broad

The Stamford Raffles Patron

Julia Bucknall

Katherine Chou

HONORARY FELLOWS

Ian Craig

Professor Milton Dr Glyn Davies Thaigo de Mello (1988)

Dr Emmanuel de Merode

His Majesty The Emperor Akihito of Japan (1991)

Dr Braulio Dias

Sir David Attenborough OM, CH, CVO, CBE, FRS (1998)

Alexandra Dixon

Dr Iain Douglas-Hamilton

Professor Sir Brian Follet FRS DL (2003)

Dr Nick Dulvy

Sir Martin Holdgate CB (2004)

Dr Charles Foley

Simone Friedman

Professor Sir John Krebs FRS (2005)

Professor Joshua Ginsberg

Professor Sir Brian Heap CBE FRS (2005)

Matthew Hatchwell Professor Heribert Hofer

Professor Katherine Ralls (2005)

Roger Howard

Professor John Lawton CBE FRS (2006)

Kate Humble

Dr Jonathan Hutton

Professor Sir John Beddington CMG FRS (2007)

Dr Anwarul Islam

Dr Desmond Morris (2012) Ken Sims (2013)

Dr Lucas Joppa

Kenzo Kaifu

The Rt Hon Lord Paul (2019)

Dr Tom Kaplan

His Serene Highness, Prince Albert II of Monaco (2020)

Dr Michael Knight

Dr Annette Lanjouw Dr Frédéric Launay

Dr Michael Brambell (2021)

HONORARY CONSERVATION FELLOWS Jamie Arbib Rosalind Aveling Dr Elizabeth Bennett

Professor Nigel Leader-Williams Dr Susan Lieberman Professor Keping Ma Professor David Macdonald Dr David Mallon

Charles Mayhew

Professor Jessica Meeuwig Charles Mindenhall Dr Russell Mittermeier Dr Maurus Msuha Edward Norton Dr Timothy O’Brien Hans-Ulrich Obrist Dr Mark Penning Ms Mary Rice

Dr John Robinson

Professor Alex Rogers

Mark Rose

Professor Yvonne Sadovy Dr Christián Samper Kim Sams Dr M Sanjayan Dr John Scanlon Dr Wes Sechrest

Dr Claudio Segré Peter Seligmann

Professor Charles Sheppard

Brian Sheth

Dr Mark Stanley-Price Jon Stryker Dr Simon Stuart Adam Sweidan

Jessica Sweidan Kerry ten Kate

James Thornton

Richard Traherne Woody Turner

Dr John Veron

Dr Jean-Christophe Vié Dr Amanda Vincent

Alannah Weston

Peter Wheeler

Nigel Winser

Jochen Zeitz

PATRONS AND DONORS

The Akester Family The Amey Family

The Anderson Family The Bacchus Family Scott Beaumont

Francis and Jo Beddington

Dr Robin and Veronica Bidwell

The Blackburn Family Emily and Oliver Brettle Simon and Elaine Brown Richard Burn

Rachel and Barry Chapman Pete and Val Charlton

Angela and Alex Chesterman OBE

The Countess of Chichester The Clarkson Family Simon Clements The Coffer Foundation C Colclough The Dalrymple Family

The Dixon Family

Claire Enders David Fawkes and Family

Eileen Flanagan Julie FS The Grant Family Peter Hamm Nicholas Heung The Humphreys Family Iain Paul Israel

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change MAKING OUR WORK POSSIBLE

Our people

Supporting our work

Our supporters Sustainability

Governance and risk

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The James Family

The Yordan Family

Anjal Kariya and Family The Lewis Family

Erdem Yurdanur

The Zibners Lohr Pinate Family

The Longhurst Family

Kieran Maguire

LEGACIES FROM Nancy Miller and Glen Ireland THE ESTATES OF

Trustee of the Late Jean Allan

Jan Mol

Patsy and Malcom Newton Sylvia and Martyn Notley The O’Brien Family

Malcolm Brady

Sheila May Craig

Anna Gofryk

Roy Palmer

Richard Kirby

Jay Patel

Rita Catherine Mills Peter Lewis Ward

The Rt Hon Lord Paul

Dr Andrew Powell

The Pratt Family

CHARITIES, TRUSTS, FOUNDATIONS, STATUTORY BODIES AND ZOOS

Jill Preston

Simon and Karen Quayle

Sheila Rankin

The Rihal Family

Ally

Rolanda, Anthony and Family

Alstom Foundation

Ambika Paul Foundation Arcus Foundation

The Rose Family

Patrick, Karen, Lily and Ella Rowland

Asian Species Action Partnership

The Michael and Nicola Sacher Charitable Trust

Auckland Zoo

Australian Embassy in the Philippines: Direct Aid Program

Lady Susan Ann Sangster The Schmid Family Sophie Scott

The Balcombe Charitable Trust

The Skingle Family David and Alison Slade

Banister Charitable Trust

Bellewaerde Park Bertarelli Foundation Bestseller Foundation The Big Give Trust British Ecological Society

Mike Staunton

Lisa Syne

Neil Thomas-Childs

Ian Webb

Barry Werner

Stephen Whittam British Hedgehog and Darren Jordan Preservation Society Jo Windsor Calgary Zoological Society

Central Bedfordshire Council, Department for Levelling Up, Housing and Communities, and Muscular Dystropy UK

Coast4C

Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES)

CITES Secretariat

Critical Ecosystems Partnership Fund (CEPF) Darwin Initiative, Defra

Defra

The Denise Coates Foundation

DP World

Dreamworld Wildlife Foundation

Ecological Restoration Fund

The John Ellerman Foundation

The Environment Agency

Environment Canada

European Maritime and Fisheries Fund

The European Union

EU BIOPAMA

Flotilla Foundation

Fondation Franklinia

Fondation Segré

Ft Wayne Children’s Zoo Garfield Weston Foundation

German Corporation for International Cooperation

James Gibson Charitable Trust

Global Canopy Global Conservation Good Energies Foundation Greater London Authority Government of Guam The Hobson Charity

Howard Buffett Foundation Shark Conservation Fund CORPORATE Illegal Wildlife Trade The Stanley Foundation SUPPORTERS Challenge Fund, Defra Stitching Ave Fenix Europa AND MEMBERS Indianapolis Zoo UK Trust for Nature Aviva Investors International Union for Conservation in Nepal Conservation of Nature Bloomberg L.P. USAID (IUCN) CSSC Sports & Leisure USFWS IUCN/ KfW Integrated DHL Express Tiger Habitat Conservation US Department of State Programme DP World West Midlands Safari Park Levine Family Foundation Freuds Wildlife Conservation Kadoorie Farm and Botanic Garden Network Fujifilm UK Wilhelma Zoo and Botanical Goldman Sachs Kusuma Trust Gardens Liontrust Mayor of London / The Woodchester Trust Thames Water Orsted ZSL America Morris Animal Foundation Peak Scientific National Geographic Society DONATIONS TO Recorra The National Lottery ZSL AMERICA Royal Bank of Canada Heritage Fund Natural England Ally Shaftesbury Capital Rachel Bardhan Nature Africa Sky Emma Barnsley Foundation The Nature Conservancy Sovereign Capital Partners

Emma Barnsley Foundation Joan and John Digby Disney Conservation Fund

The Nature Conservancy Nature Networks Fund

Standard Chartered State Bank of India

NGOs for Fisheries Reform

The Esmond Nissim Foundation

On The Edge

Thames Water

The David and Lucile Packard Foundation

The Marshall Wace TOPS (ESG) Foundation

Cynthia and Armins Rusis

Weeden Foundation

Panthera

The Howard de Walden Estate

Jo Weiss

Players of People’s Postcode Lottery

White & Case LLP

Research England

Re:wild

Rewilding Europe

Rockefeller Philanthropy

Rose Foundation

The Rothermere Foundation The Rufford Foundation

Dr Robert Andrew Rutherford CT

Sahara Conservation Fund Selatan Crafted Giftware

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

MAKING OUR WORK POSSIBLE

Our people

Supporting our work

Our supporters Sustainability

Governance and risk

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Financial statements

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SUSTAINABILITY

Nature is at the heart of everything we do, including the way we operate as a charity. We are committed to sustainability throughout our supply chains, our partnerships, consumption and operations.

We continue to work towards the targets set out in our Environmental Sustainability Plan, published in May 2021. Our targets are informed by the UN Sustainable Development Goals and include commitments to halve our carbon footprint by 2030 and reach net zero by 2035; reduce mains water use by 30% by 2030; and increase recycling of visitor waste to 70% by 2026.

We operate an Environmental Management System to manage all aspects of environmental impact at our London and Whipsnade sites, and plans are underway to establish a new, similar system for our conservation projects in the UK and overseas. The EMS is accredited to the ISO 14001 standard, a globally recognised certificate of environmental responsibility only achieved by a handful of zoos in the UK.

ENERGY AND CARBON

We continue to embed sustainable design into construction projects. The new conservation centre for reptiles and amphibians at London Zoo will have its heating provided by lowcarbon air-source heat pumps to minimise environmental impact and carbon emissions. Across our Zoos we are also commencing the phased replacement of our fleet vehicles, transitioning to fully electric and hybrid vehicles wherever possible.

This year, our focus at London Zoo has been on analysing data from energy sub-meters, installed last year, to identify energy and cost-reduction opportunities, such as adjusting boilers and chillers to only operate when needed. Other priorities include upgrading the Building Management System (BMS) in the most energy-hungry buildings to automatically regulate systems for heating, cooling and lighting. At Whipsnade, we have focused on improving the building fabric of several animal houses, including the white rhino house, and we are developing proposals for others. Installing roof insulation is one of the simplest and most effective ways to improve heat efficiency.

ZERO

non-hazardous waste to landfill

32%

reduction in mains water consumption, based on 2018/19 baseline

groundwater (under licence from the Environment Agency) and, over the year, achieved an average 70% self-sufficiency from this supply.

WATER AND WASTE

We are making excellent progress towards reducing mains water use by 30% by 2030, as set out in our Environmental Sustainability Plan. Both sites consumed significantly less than the 2018/19 baseline year, with London and Whipsnade recording a 31.6% and 32.6% reduction respectively this year. Reductions have been achieved due to investment in infrastructure and pipework repair, resulting in fewer leaks. Across both sites we now have over 50 sub-meters at key locations, which help us better manage usage within buildings and animal enclosures. At Whipsnade we are able to make use of

We have maintained our target to send zero non-hazardous waste to landfill. Our end-of-year recycling rates for office and visitor waste are 51% at London and 55% at Whipsnade. Making it easy for our visitors to recycle waste correctly can be challenging, and we are exploring ways to improve this further to achieve our 70% target. Food waste from catering is sent off-site for anaerobic digestion and all our herbivore bedding waste is taken away for composting before being used as fertiliser by local farmers.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible SUSTAINABILITY

Governance and risk

Financial summary

Auditor’s report

Financial statements

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SUPPLY CHAIN AND PROCUREMENT

Last year we began a project to interrogate our procurement process and supply chain. This has helped us estimate the proportion of our carbon footprint associated with the goods and services we buy. While we have started to identify priority action areas, we have not achieved our aim to set a sciencebased target for these emissions and have extended the target date while we continue exploring this topic.

We are reviewing our approach to assessing the social, economic and environmental sustainability credentials of new suppliers and will be introducing a more robust sustainable procurement questionnaire after completing a pilot phase. We have also worked with our provider of washroom supplies to introduce an innovative new soap product that uses soluble tablets instead of plastic refill cartons. This cuts packaging by up to 90% and is estimated to eliminate over 700kg of single-use plastic every year.

Our Buying and Merchandising Team carry out due diligence against our sustainable sourcing policies (RSPO palm oil; FSC wood and paper) for all products in our online and Zoo gift shops. We have collaborated with suppliers to remove unnecessary packaging and eliminate single-use plastics. We also push for development of new products made

from more recycled materials – examples include Playmobil’s Wiltopia range, made from more than 80% sustainable materials, and 100% recycled plastic filling in ‘plush’ soft toys.

CHALLENGES

We are working with our caterers, and the suppliers to our Zoo shops, to ensure that unnecessary packaging is remove from the supply chain and only certified sustainable certified palm oil, wood and paper are used.

We face several challenges in progressing our sustainability goals, including a limited amount of data to draw on, a small number of staff trained in sustainability analysis and decision making, and restricted budgets for improvement projects. Reducing energy needs to be balanced with our first priority, the care of our animals – who require carefully controlled environments that demand very energyhungry processes. The age of our buildings and infrastructure means investment required to deliver improvement projects is often significant.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible SUSTAINABILITY

Governance and risk

Financial summary Auditor’s report

Financial statements

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ZSL’S SUSTAINABILITY TARGETS

----- Start of picture text -----
OBJECTIVES TARGETS PROGRESS Welcome
Our vision
and purpose
Reduce electricity emissions by 50% by end of FY2030/31, based on In progress
Carbon and Energy: FY2019/20 baseline 34% reduction Our targets
for 2022–23
Reduce absolute greenhouse gas Reduce gas and other fossil fuel emissions by 50% by end of FY2030/31, based In progress
emissions in line with limiting global on FY2019/20 baseline 14% reduction Our global impact
average temperature increase to 1.5°C,
and aim to achieve net zero for all Reduce business travel emissions from air, road and rail by 50% by end of FY2030/31, In progress Protecting
residual GHG emissions by 2035 based on FY2019/20 baseline 14% reduction species
Install large-scale solar photo-voltaic array of minimum 1.0MWp size at Whipsnade In progress Living with
Zoo by Dec 2024 [1]
wildlife
Set a science-based Scope 3 target for significant value chain emissions by Dec 2024 [1] In progress
Restoring
ecosystems
Waste and Materials In progress Inspiring change
Recycle 70% of office and visitor (front-of-house) waste by end of FY2025/26 51% London
Efficiency: 55% Whipsnade Making our
work possible
Promote responsible consumption,
minimise the amount of waste produced, Maintain zero non-hazardous waste to landfill Achieved SUSTAINABILITY
and assess all remaining significant
waste streams for alternatives that Governance
support a circular economy Awaiting and risk
Treat 30% of waste onsite by 2030 via composting or anaerobic digestion
Assessment
Financial
summary
Auditor’s report
Water Management:
Financial
Reduce total water consumption Reduce total mains water consumption by 30% by end of FY2030/31, based In progress
statements
through design and maintenance of the on FY2018/19 baseline 32% reduction
estate, and implementation of water
efficiency measures
Responsible Procurement: 100% of food products sold by ZSL that contain palm oil to be RSPO certified
In progress
sustainable by Dec 2022 [2]
Integrate sustainability within all 60
procurement activities and throughout
our supply chain, in line with the 100% of timber and paper-based products to be certified as sustainable Annual Report
guidelines of ISO 20400:2017 standard (FSC or other approved certification) by Dec 2026 [1] In progress and Accounts
2022–23
1. targets extended since last year
zsl.org
----- End of picture text -----

Our global impact Protecting species

1. Dec 2022 target not met, to be reassessed

ZSL’S SUSTAINABILITY TARGETS

----- Start of picture text -----
OBJECTIVES TARGETS PROGRESS Welcome
Our vision
and purpose
Onsite Biodiversity: Implement the principles of ZSL’s UK Site Biodiversity Policy in all relevant In progress Our targets
operational and capital development activities at Whipsnade and Regent’s Park for 2022–23
Optimise the biodiversity value and
function of land managed by ZSL
Our global impact
in the UK, to complement national Review and update ZSL’s Site Biodiversity Management Plan framework
In progress
biodiversity strategies by Dec 2026 [1] Protecting
species
Living with
Sustainable Buildings All new-build exhibits to consider lifecycle value, include initiatives to reduce wildlife
and Exhibits: energy and water consumption, reduce construction waste, and to source In progress
Restoring
materials responsibly in line with ZSL policies
ecosystems
Manage the design and construction
of new exhibits, and refurbishment Inspiring change
of our existing estate, to minimise All projects to include sustainability targets in the project brief and confirm a
environmental impact and embed sustainability assessment method with ZSL Sustainability Manager at earliest In progress Making our
sustainability principles from the outset design stage work possible
SUSTAINABILITY
Governance
Food and Catering: Out-sourced caterers Benugo (London Zoo) and RA Venues (Whipsnade) to reduce and risk
energy and water consumption, increase recycling, and source produce sustainably In progress
Provide nutritious, sustainable food in line with ZSL targets Financial
options for our staff, visitors and
summary
animals with as little environmental By Dec 2022 [2] agree additional sustainable catering targets to address food waste,
In progress
impact as possible promotion of plant-based meals and visitor engagement campaigns related to food Auditor’s report
Financial
statements
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1. targets extended since last year

2. Dec 2022 target not met, to be reassessed

PRINCIPAL RISKS AND UNCERTAINTIES

We are a diverse organisation working to achieve strategic priorities in several areas, each with their own unique set of challenges.

In delivering all our objectives, we accept that we face a range of risks, varying in substance and significance. We have procedures in place to establish the organisation’s appetite for risk and to identify and evaluate the risks we face when working to achieve our objectives. Our procedures also enable the Trustees and Executive to identify and implement effective measures to reduce the likelihood of risks occurring , and to limit the potential impact if those risks do occur .

OUR RISK MANAGEMENT PROCESS

Our Trustees review and set the organisation’s risk appetite statement, which sets out our overall tolerance for different categories of risk and provides the framework within which our risk management policies and procedures operate. The Executive Committee has responsibility for underlying procedures relating to risk.

We manage a Society-wide strategic risk register that contains the key risks owned and managed by the executive leadership team and the Council of Trustees. This tracks and evaluates the strategic, operational, finance and compliance risks that we face against our risk appetite. We have risk assessment processes embedded in management and operational processes and the Head of Legal, Governance and Risk Management works to support the tracking of risks from an organisational perspective. Where relevant, the strategic risk register is supported by underlying operational risk registers across our Society for the operational and charitable activities we undertake. Specifically for health and safety, we have a detailed system for monitoring risks and issues, as well as actions taken, managed by the Health and Safety team.

Risk is a standing item on the agenda of the monthly meeting of the Executive Committee, where each risk has a named owner, and the risks and mitigations are reviewed. Any new or emerging risks are also added through this forum. In this way, risks are considered, and suitable mitigation plans developed and implemented.

Our strategic risk register is reviewed annually by our Audit, Finance and Risk Committee (AFRC) and our Council of Trustees, who have collective responsibility to identify, assess and manage risks, and ensure that risk management arrangements are robust, appropriate and comprehensive. Any significant changes made to the risk register during the year are reported to our Audit, Finance and Risk Committee, and the minutes of these meetings are provided to our Council of Trustees.

RISK MANAGEMENT STATEMENT

Our Trustees have considered the principal risks to which our organisation, and our subsidiary undertaking, is exposed and satisfied themselves that suitable procedures have been established to identify and manage those risks. The principal risks on the following two pages were identified during the 2022–23 accounting period. Specific actions are in place to manage each risk.

PRINCIPAL RISKS

The risks in the principal risks table relate to our key priorities in line with our objectives and are in no particular order. These are the key risks for us, but may have been rated as ‘low’ or ‘minor’ under our assessment framework because of the effectiveness of our control and mitigation measures. Nevertheless, managing these risks appropriately is central to our ability to operate effectively and so they are listed in this report.

Our Trustees are responsible for overseeing the mitigation measures and assurances as set out in the table. The AFRC has delegated authority to review the detail of this and the Legal, Governance and Risk Management team has day-to-day responsibilities in this area. We also work very closely with our regulators and have robust policies and procedures that all work to seek to ensure that these principal risks do not materialise.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability GOVERNANCE AND RISK

Principal risks and uncertainties

Governance

Financial summary

Auditor’s report

Financial statements

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DESCRIPTION OF PRINCIPAL RISKS

1

SUMMARY OF MITIGATION ACTIONS

2

3

4

Animal Welfare Principal risk:The risk that circumstances outside of our control could impact the high standards of health and welfare that we maintain for the animals in our care	Strict compliance with regulations overseen by the Animal Welfare and Zoo Ethics Committee and Animal Welfare Group
	Monitoring of animal health and nutrition overseen by our experienced on-site veterinary team
	Monitoring and reporting of behaviour, temperament and other psychological indicators
	Regular welfare audits and environment assessments with resulting action plans
Health and Safety Principal risk:The risk of a Health and Safety incident that harms our people, our visitors or any individual we are working with	Strict compliance with legislative requirements
	Regular risk assessments, inspections, health surveillance and audits
	Programme of targeted training and general awareness of risk and safety matters
	Comprehensive policy and procedures
Safeguarding Principal risk:The risk of a safeguarding incident that harms our people, our visitors, or any individual we are working with	Global safeguarding policy
	Clear process for any signifcant concerns to be raised quickly at the most senior levels, with a dedicated Safeguarding Lead reporting regularly to the Chief Executive Ofcer
	Mandatory training for all staf and students
	Designated Safeguarding Trustee on Council
	Ensure safeguarding and prior informed consent for programmes working with human communities
Income and Funding Principal risk:The risk that we are unable to raise sufcient funding to enable delivery of our objectives, or that reliance on a single income stream or funding source impacts our ability to deliver	Diversifed income streams and funders and careful management of income and expenditure
	Managing income and fundraising strategy
	Robust monitoring of income and expenditure, cost base reduction exercises as needed
	Ensure we maintain the research standards funders require by regularly reviewing research outputs and benchmarking performance
	Grant-funded projects are subject to approval procedures to ensure conditions and commitments can be met

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

GOVERNANCE AND RISK

Principal risks and uncertainties Governance

Financial summary Auditor’s report

Financial statements

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DESCRIPTION OF PRINCIPAL RISKS

5

SUMMARY OF MITIGATION ACTIONS

6

7

Cost Infation Principal risk:The risk that rising costs, including utilities, food, and construction materials, impact our ability to deliver our objectives, both day-to-day operations and capital projects	Annual budgets and ongoing fnancial forecasting
	Robust monitoring of income and expenditure, cost base reduction exercises as needed
	Our procurement team manages and monitors a procurement framework
	Capital Portfolio Group oversight of capital spend
Positive Impact Principal risk:The risk that circumstances outside of our control mean that we are unable to continue to have a demonstrable positive impact and create a world where wildlife thrives	Robust peer reviewed science that informs our conservation feld work
	Collaboration with the international community of responsible zoos and participation in sustainable breeding programmes
	Focus on transparency in communications with the public and our donors and partners
	The delivery of high-impact and robust programmes of species recovery and habitat protection in the feld
Maintenance and Capital Project Management Our Zoos have ongoing maintenance requirements, contain listed buildings, and have upcoming capital projects to deliver improved visitor experience and animal welfare. Principal Risk:The risk that we are unable to efectively manage this programme of projects and maintenance	Long-term maintenance plans to identify and schedule key expenditure over the next 15 years
	Capital projects aligned with our long-term vision through our Masterplan (strategic framework)
	Develop a robust impact framework that enables transparency in all our communications to the public, donors and partners
	Governance processes including a Capital Portfolio Group in place to: - Assess capital needs, with clear criteria - Prioritise and allocate funding - Monitor performance and spends - Agree project aims and objectives and oversee project control

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Restoring ecosystems Inspiring change

Making our work possible Sustainability GOVERNANCE AND RISK

Principal risks and uncertainties Governance

Financial summary Auditor’s report

Financial statements

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DESCRIPTION OF PRINCIPAL RISKS

8

9

SUMMARY OF MITIGATION ACTIONS

Welcome

Ongoing monitoring of proposed legislative change and consideration of any potential impact on us

Legislative changes

Proactive participation in consultation exercises, and input drawing on the breadth and depth of expertise from across our Society

Principal risk: The risk that unforeseen legislative change requires significant change to our funding and / or operational model

Maintain open and positive relationships with key stakeholders such as Government departments and BIAZA

Climate Change

Our Zoos and field teams monitor upcoming weather to anticipate extreme conditions (and their implications) and implement emergency and adverse weather protocols as required

Principal Risk: The risk that extreme weather impedes or significantly disrupts our operations in the UK or overseas, harms our people, damages our sites and infrastructure, and impacts our ability to deliver conservation impact

At our Zoos, short-term mitigations form part of regular site maintenance and operational protocols, and long-term solutions are being built into our sites’ Masterplan (strategic framework)

RISK HEAT MAP

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9
5
8
4
7
3
2 1 6
Potential Impact
Likelihood of risk occurring
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Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change Making our work possible

Sustainability GOVERNANCE AND RISK

Principal risks and uncertainties Governance

Financial summary Auditor’s report

Financial statements

----- Start of picture text -----
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GOVERNANCE

Our work as a charity is overseen by our Council of Trustees, outlined here.

GOVERNANCE REVIEW

Council undertook an in-depth review of our governance arrangements in 2019, identifying several improvements with the ultimate goal of aligning us with the best practice recommended by the Charity Governance Code. In January 2023, Council reconvened a Governance Working Group to review implementation of these improvements and to consider whether further improvements could be made, particularly as a result of subsequent updates to the Charity Governance Code. The working group presented its initial findings to Council in April 2023.

During July 2023 we ran a consultation with the ZSL Fellowship on the following proposals:

• To appoint a Chair to take over the formal requirements of the President role, while changing the President role to be ambassadorial

• To remove the Secretary and Treasurer officer roles

• To appoint a Senior Trustee

• To reduce the total number of Council members from 13 to 12

• To increase the number of selected Trustees from three to six

• To amend the Byelaw that prohibits the use of ZSL post-nominal letters by Fellows

The next steps are for the Governance Working Group to review the feedback received from Fellows and make a final recommendation to Council for agreement. Once the proposals have been agreed

by Council there will be a ballot of the Fellowship for approval, planned for Autumn 2023, before the proposals are submitted to the Privy Council with a request that they be approved.

CORPORATE STATUS

ZSL (Zoological Society of London) is a charity incorporated under Royal Charter, registered in England and Wales with the Charity Commission (No. 208728). Certain of the commercial operations of our two Zoos, principally catering and shops, are carried out through a wholly owned subsidiary company, Zoo Enterprises Limited, a company registered in England and Wales with company number 01178687 (together referred to below as ‘the group’).

ORGANISATION

Council

We are governed by the Charter, which was amended in 2021 as part of the governance review, and by the Byelaws, Standing Orders, and Regulations. Our Byelaws set out requirements concerning membership of the Society (the Fellowship), our Officers (President, Secretary and Treasurer), and other members of Council as well as the proceedings of Council, annual general meeting, and other meetings.

Council is the governing body of our Society and is responsible for establishing and monitoring our strategy and key policies. Council formally meets five times a year as standard, but informally meets more frequently as and when required. Council is currently comprised of 12 Trustees, out of a maximum of 13.

Save for those filling a ‘casual vacancy’, 10 members of Council are elected from and by our Fellows. Every year, the Fellows are informed of the number of vacancies on Council, the skills and experience that is best considered to support us, and are invited to stand for election. The election is by ballot of the complete Fellowship of the Society, with electronic voting offering flexibility as well as being more environmentally friendly and cost effective. Postal ballots are available for those Fellows who require them. Newly elected Trustees are formally appointed at the Annual General Meeting in November.

Up to three members of Council are directly selected by Council based on their skills and experience in a process managed by the Nominations Committee. All Trustees serve for a term of office of four years.

We provide various forms of training to Council, including mandatory training (part of the induction process) for new Trustees and those halfway through their terms of office, covering Trustee legal duties and responsibilities, safeguarding and our governing documents. Additional training is provided as needs arise.

Members of Council/Trustees

The following were Council members in the period 1 May 2022 to the date of this report, unless otherwise indicated (* to November 2022, + from November 2022) . See pages 69 and 70 for short biographies of each Council member.

President: Professor Sir John Beddington CMG FRS (resigned October 2022)

President: Professor Sir Jim Smith FRS (appointed October 2022) Secretary: Professor Sir Jim Smith FRS (resigned October 2022) Treasurer: Richard Sykes

The Secretary role is currently vacant. Given the proposed changes to our governing documents described in this section, which include a proposal to remove this role, Council agreed in February 2023 to leave this role vacant until the after the completion of the governance review, with the responsibilities of the Secretary being appropriately covered in the meantime.

Shruti Ajitsaria Dr May Chiao+ Dr Peter Higgins David Jones Richard Kimblin KC Alex Large Athena Markides Dr Maggie Redshaw* Martin Rowson Ken Sims Paul Wilson

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

GOVERNANCE AND RISK

Principal risks and uncertainties

Governance

Financial summary Auditor’s report

Financial statements

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COMMITTEES

Council delegates oversight in a number of areas to sub-committees whose terms of reference and membership are shown below (* retired during 2022–23, + joined during 2022–23, ^ external to ZSL, ~non-voting advisory members ).

Animal Welfare and Zoo Ethics Committee

Terms of reference: The Animal Welfare and Zoo Ethics Committee (formerly called the Animal Welfare Committee) oversees the day-to-day welfare of animals under our care. In particular, the role of the Committee is to assist Council to fulfil its responsibility to ensure that: matters requiring ethical review under the Zoo Licencing Act 1981 are appropriately considered; we comply with our obligations under the Animal Welfare Act 2006 as it applies to animals in zoos and any other legislation that applies to the welfare of animals in zoos; and to demonstrate and practise the highest standards of welfare management for all the animals for which we are responsible. In the past year the Committee met formally twice, in May and November, and held several informal briefing meetings on specific topics as and when required. Animal welfare is central to the decisions that are made about all our exhibits. The Committee analyses and discusses the ethics of the decisions taken with the animals in our care, and during the year also explored how to improve the visibility of animals for visitors, always with animal health and welfare at the heart of any actions. Most of the Committee consists of external, independent experts and their views have been sought throughout the year on several topics.

Membership: Dr Peter Higgins (appointed as Chair in December 2022), Dr Maggie Redshaw (retired as Chair in December 2022 but remains a Committee member), Georgina Allen (nee Groves)^, Dr Heather Bacon^, Dr Brian Bertram^, Sally Binding^, Dr Matthew Brash^, Troy Gibson^, Miranda Stevenson^, , Dr Andrew Kitchener^, Iri Gill^

Awards and Medals Committee

Terms of reference: The Awards and Medals Committee provides independent advice to Council with regards to the determination and presentation of our awards, medals and prizes for contributions to Zoology and Conservation Science. The Committee

met in September 2022, and made 15 awards under eight categories.

Membership: Professor Sir Jim Smith, Professor Stuart Bearhop^, Dr Susan Cheyne^, Dr Katie Hampson^, Professor Susan Healey^, Professor David Morritt^, Professor Steve Paterson^, Professor Claire Spottiswoode^, Professor Seirian Sumner^, Professor Graham Taylor^

Ethics Committee for Animal Research

Terms of reference: The role of the Ethics Committee for Animal Research (ECAR) is to ensure that any research carried out by us or on our behalf is subject to appropriate ethical review. The Committee has a specialist sub-body, the Animal Welfare and Ethical Review Body (AWERB): to meet our obligations under the Animals (Scientific Procedures) Act 1986.

ECAR Membership: Dr Alick Simmons (Chair)^, Brian Bertram^, Professor Malcolm Bennett+^, Madeleine Campbell*^, Dr Lola Brooks, Professor Sarah Durant, Maria Diez-Leon+, Professor Trent Garner, Dr Matthew Gollock, Dr Amanda Guthrie, Professor Bill Holt^, Wendy Jarrett^, Paul Pearce-Kelly, Chris Sergeant, Dr Ben Tapley, Dr David Williams^

AWERB Membership: Dr Alick Simmons (Chair)^, Professor Andrew Cunningham, Dr Lola Brooks^, Professor Sarah Durant, Professor Trent Garner, Dr Matthew Gollock, Dr Amanda Guthrie, Professor Bill Holt^, Wendy Jarrett^, Chris Sergeant, Dr Ben Tapley

Audit, Finance and Risk Committee

Terms of reference: To monitor the financial management of our Society, to act as an audit committee, to make recommendations to Council on financial policy or capital investment decisions,and to monitor our risk framework. The Committee met five times this year and the key items of business discussed were our audit plan and approach, our principal risks and areas of risk assurance, pension fund strategy and financial oversight.

Membership: Richard Sykes (Chair), Professor Sir John Beddington CMG FRS*, Professor Sir Jim Smith, Dr Peter Higgins, Alex Large, Athena Markides, Paul Wilson~, Loraine Woodhouse^~

Human Ethics Committee

In March 2021, Council agreed to create a dedicated Human Ethics Committee, recognising the need to add additional governance to complement the existing frameworks that ensure that all activities we undertake are carried out in an ethical manner and respect all stakeholders, indigenous people, and local communities, as well as our institutional position on human rights. A Human Ethics Working Group was established in 2022 to support the development of the formal Committee and manage the ethical review of projects involving human participants in the intervening period.

Nominations Committee

Terms of Reference: To ensure that the collective skills and experience of Council and its Committees are appropriate and sufficiently diverse for it to effectively undertake its legal duties and the governance of our Society. The committee met five times in the year reported on.

Membership: Professor Sir Jim Smith FRS (Chair), May Chiao+, David Jones+, Martin Rowson, Shruti Ajitsaria, Richard Kimblin KC

People Committee

In February 2023, Council agreed to restructure the existing Remuneration Committee into the People Committee, with a wider remit.

Terms of reference: The purpose of the People Committee is to assist Council through strategic oversight and governance of our People and Culture Strategy, ensure that policies and practices associated with the People and Culture are consistent with our values and culture, and support our long-term sustainability and growth.

Membership: Professor Sir Jim Smith FRS (Chair), Helen Downton, Matthew Gould, Dr Peter Higgins, David Jones, Richard Sykes

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

GOVERNANCE AND RISK

Principal risks and uncertainties

Governance

Financial summary

Auditor’s report

Financial statements

67

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zsl.org

DAY-TO-DAY MANAGEMENT

Director General/Chief Executive Officer

The day-to-day management of our Society is delegated by Council to the CEO and other members of the Executive Committee. In March 2023, Council agreed to change the Director General title to Chief Executive Officer (CEO), which better reflects the role and our modern structure. There is no requirement in our Governing Documents for the most senior employee to be called ‘Director General’.

All significant matters of policy are determined by Council.

EXECUTIVE COMMITTEE

Our Executive Committee comprises:

Chief Executive Officer: Matthew Gould CMG MBE (from 12 September 2022)

Director General: Dominic Jermey CVO OBE (to 7 June 2022)

Acting Director General: Jo Keaney (from 8 June 2022 to 11 September 2022) Chief Financial Officer Jo Keaney (resigned 19 September 2023) Acting Chief Financial Officer Richard Cawthra (appointed 19 September 2023)

Director of Conservation and Policy: Andrew Terry Director of Science: Professor Johan du Toit (appointed 30 August 2023)

Interim Director of Science: Guy Cowlishaw (resigned 30 August 2023)

Director of Zoos: Kathryn England Chief Operating Officer, Whipsnade Zoo: Owen Craft Director of Fundraising, Marketing and Engagement: James Wren

People Director: Helen Downton Director of Estates and Transformation: Claire McKeown (appointed 21 August 2023)

FUNDRAISING GOVERNANCE

We are dedicated to responsible fundraising and complying with the relevant regulatory standards for fundraising. We are registered with the Fundraising Regulator and committed to the Code of Fundraising Practice. Any third-party agencies we use for the

purpose of our fundraising are contractually obliged to adhere to the relevant codes of practice.

During this financial year, we didn’t receive any fundraising complaints that were formally investigated by a regulator. We are committed to protecting vulnerable individuals in any fundraising we undertake. We do all we can to assist our supporters in making an informed decision about the support they wish to give us. We follow the Institute of Fundraising’s Code of Practice and also follow guidance provided by the Direct Marketing Association when speaking to supporters on the phone.

THE FINANCIAL STATEMENTS AND TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity and the group, and of the incoming resources and application of resources of the Charity and the group for that period.

In preparing these financial statements, the Trustees are required: to select suitable accounting policies and then apply them consistently; to observe the methods and principles in the Charities Statement of Recommended Practice (SORP); to make judgements and estimates that are reasonable and prudent; to state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and to prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and the group and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Royal Charter. They are also responsible for safeguarding the assets of the Charity

and the group, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are also responsible for the maintenance and integrity of the Charity and the group, and for financial information included on the Charity’s website.

Auditor

A resolution to reappoint RSM UK Audit LLP, chartered accountants, as auditor will be put to the Council before the end of the next financial year.

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REFERENCE AND ADMINISTRATIVE INFORMATION
Principal / Regent’s Park
Registered London
address: NW1 4RY
Also at: ZSL Whipsnade Zoo
Bedfordshire
LU6 2LF
Investment Newton Investment
advisors: 160 Queen Victoria Street
London
EC4V 4LA
Principal Barclays Bank PLC
bankers: 1 Churchill Place
London
E14 5HP
Statutory RSM UK Audit LLP
auditor: 25 Farringdon Street
London
EC4A 4AB
Lawyers: Hempsons Solicitors
100 Wood Street
London
EC2V 7AN
ZSL DB Pension Scheme Trustee
Scheme: Zedra Governance Ltd
283-288 High Holborn
London
WC1V 7HP
Scheme Investment Advisor
Barnett Waddingham LLP
2 London Wall Place
123 London Wall
London
EC2Y 5AU
----- End of picture text -----

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

GOVERNANCE AND RISK

Principal risks and uncertainties

Governance

Financial summary Auditor’s report

Financial statements

68

Annual Report and Accounts 2022–23

zsl.org

COUNCIL MEMBERS/TRUSTEES

President:

Professor Sir Jim Smith FRS Appointed to Council as Secretary 2021, Appointed as President in October 2022

Jim Smith is a developmental biologist who served as Director of the Medical Research Council (MRC) National Institute for Medical Research, where he helped establish the Francis Crick Institute. Most recently he was Director of Research Programmes at the Wellcome Trust. Jim was elected to the Fellowship of the Royal Society in 1993; and of the Academy of Medical Sciences in 1998; and was knighted in 2017.

Treasurer:

Richard Sykes

Elected to Council November 2022

Richard, a chartered accountant and a former senior client partner at PwC, was appointed as Treasurer in January 2020 and brings his accounting, risk, governance and wider business and charity expertise to his role as Chair of the Audit Finance and Risk Committee (AFRC).

Shruti Ajitsaria

Elected to Council November 2019

Shruti is a partner at law firm Allen & Overy, where she created and launched an initiative to build digital skills. She brings this spirit of innovation and adoption of technology, in addition to her governance and fundraising experience from serving as a school governor and sitting on a fundraising development group for a hospice. She has also completed the Financial Times’ Non-Executive Director Diploma.

Dr May Chiao

Elected to Council November 2022

May is the Chief Editor of Nature Astronomy , a post she has held since its launch in 2017. She joined Nature in 2003 and was on the launch team of Nature Physics in 2005. May’s academic training is in low temperature physics; first at McGill University, followed by postdoctoral work at the University of Cambridge and ETH Zurich. A passion for outreach and communication led her to a career in publishing, while a growing interest in conservation brought May to ZSL.

Dr Peter Higgins

Elected to Council November 2020

Peter has over 30 years of experience as a veterinary surgeon, including zoological advisory work, coupled with a Fellowship of the Institute of Company Directors, a passion for wildlife and conservation, and experience and achievements in fundraising strategy for charities, as well as marketing and media skills. Peter is our designated safeguarding Trustee and Chair of the Animal Welfare and Zoo Ethics Committee.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

GOVERNANCE AND RISK

Principal risks and uncertainties Governance

Financial summary Auditor’s report

Financial statements

69

Annual Report and Accounts 2022–23

zsl.org

David Jones

Originally appointed to Council 2020 (to fill a casual vacancy), Selected by Council November 2022

David had a board-level career at the John Lewis Partnership where he held senior roles in retail, commercial and supply chain. He brings to ZSL experience in non-executive roles spanning retail, sport, local government, community and voluntary, charity, regulatory and trade bodies.

Richard Kimblin KC

Elected to Council November 2021

Richard started out in environmental sciences: PhD, Royal Society postdoc, environmental assessment. He was then called to the bar in 1998, practicing in planning and environmental law. Richard was a Trustee of the United Kingdom Environmental Law Association for 10 years and its Chair for two. Richard was appointed Queen’s Counsel 2016 and advises in and appears in respect of development and environmental issues for government, developers and planning authorities.

Alex Large

Originally elected to Council November 2018, re-elected November 2022

Alex worked as an investment banker at JPMorgan for over 25 years, where he held a variety of risk management, capital-raising and corporate finance roles in the UK and Asia Pacific. He now runs an investment business.

Athena Markides

Elected to Council November 2021

Athena is a commercial barrister specialising in insurance, construction and property damage. She was an elected member of the General Council of the Bar of England and Wales between 2015 and 2021 and was elected Chair of the Young Bar in 2019, negotiating the first pay rise for publicly-funded prosecutors in 18 years. She is passionate about wildlife, conservation and science, and fostering greater public engagement with ZSL’s work.

Martin Rowson

Elected to Council November 2019

Martin is an award-winning cartoonist, illustrator and author, and has decades of experience of charity governance. Martin served his first term on Council in 1992 following his involvement in the Reform Group, which successfully spearheaded the campaign to reverse the decision to close London Zoo in 1991.

Ken Sims

Elected to Council November 2019

Ken is the founder Director of Thrigby Hall Wildlife Gardens in Norfolk, opened in 1979, and is a strong proponent of field and zoo conservation work and of inter-zoo cooperation. Ken became a zoo inspector in 1984 and has been a BIAZA member for over 40 years, having served on both BIAZA and EAZA Councils.

Paul Wilson

Elected to Council November 2020

Paul has had a lifelong interest in zoology and conservation and has been a Fellow of ZSL for almost 30 years. Now retired, Paul was Managing Director of a large UK construction company, delivering major projects across the UK, giving him broad experience in strategic and commercial management. Paul is also chair of ZSL’s Library Advisory Group.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

GOVERNANCE AND RISK

Principal risks and uncertainties

Governance

Financial summary

Auditor’s report

Financial statements

70

Annual Report and Accounts 2022–23

zsl.org

FINANCIAL SUMMARY

prior year surpluses enabled us to continue to invest in our Zoos with a historically high annual capital investment of £9.4m in 22/23 (21/22: £8.7m).

OVERVIEW

In the face of a tough economic climate, with high inflation and rising interest rates, we demonstrated our continuing resilience in 22/23, reporting net income of £3.8m despite flat revenue and rising costs.

Overall, this still resulted in positive net income of £3.8m before other recognised gains and losses, compared to £8.7m in 21/22. Once the annual FRS102 pension revaluation is included, our net loss of -£0.8m in 22/23 compares to a net surplus of £16.8m in 21/22. Our general fund finances – ie excluding restricted funds – remain strong, with an operating general fund surplus (before pension revaluation) of £1.5m (21/22: £6m) and a general reserves balance of £13.5m (21/22: £16.6m).

Total income of £79.4m was broadly unchanged from the previous year (21/22: £79.5m) and the total number of visitors to both Zoos reached 2m compared to 1.8m in 21/22, an increase of 11%. Admissions and all other Zoo income (including trading, experiences etc) dropped slightly to £39.9m (21/22: £41.1m).

We are grateful for the continued support from all of our visitors, members and donors; their financial support provides the income that enables us to continue our conservation work and to future-proof our organisation for an uncertain world.

In response to the cost-of-living crisis, 22/23 also saw the launch of our community access scheme (CAS), where discounted tickets were made available to enable a wider group of people to access both London and Whipsnade Zoos. This successful scheme was very well received, with 186,000 CAS visitors accessing both Zoos via this scheme in 22/23.

A big thank you too to our incredible staff, who support the running of our Zoos, the care of our animals, our scientific research and our conservation projects around the world. Their skill and dedication are the foundation of everything we do.

The small drop in admissions income was offset by higher conservation and science research income, as we continue to attract blue-chip funding for our world-class conservation work. Our science, research and conservation programmes generated income of £16m in 22/23, a rise of £3.4m (21/22: £12.6m). Both our Institute of Science and Conservation and Policy directorates saw higher levels of research income in 22/23.

Total expenditure rose from £70.9m to £75.6m, a rise of 7%, reflecting the high inflationary environment. Key increases include a rise in employment and utilities costs but also significant investment in maintenance at both sites. Our strong performance in 22/23 and

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

Governance and risk

FINANCIAL SUMMARY

Auditor’s report

Financial statements

71

Annual Report and Accounts 2022–23

zsl.org

INCOME

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INCREASE DECREASE TOTAL
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Welcome

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81 Our vision
80 3.2 and purpose
79.5 0.5 0.4 79.4
0.6
79 Our targets
0.6 -3.6 for 2022–23
78
-1.8 Our global impact
77
Protecting
76 species
75 Living with
wildlife
Restoring
ecosystems
Inspiring change
Making our
Zoo admissions 2.0M work possible
Strong visitor numbers (the increase by 0.2m
1.8M Sustainability
to 2m total visitors) was not reflected in PAYING VISITORS
admissions income, which fell by £1.8m (6%) to CAS AND EDUCATION Governance
£29.1m in 22/23, reflecting the drop in paying MEMBERS AND COMPLEMENTARY and risk
visitors of 0.1m. The increase of 0.2m visitors
primarily relates to the 186,000 individuals FINANCIAL
purchasing via the Community Access Scheme. SUMMARY
London Zoo saw 26% more visitors in 22/23, 1.2M Auditor’s report
welcoming 1.2m visitors, while Whipsnade
Financial
visitor numbers fell 6%, to 0.8m visitors, after 1.0M statements
a very strong 21/22.
0.8M 0.8M
72
Annual Report
and Accounts
2022–23
22/23 21/22 22/23 21/22 22/23 21/22
TOTAL TOTAL LONDON LONDON WHIPSNADE WHIPSNADE zsl.org
21/22 TRADING GRANTS 22/23
ADMISSIONS MEMBERSHIP DONATIONS INCOME
TOTAL INCOME AND LEGACIES TOTAL INCOME
INVESTMENT INCOME OTHER CHARITABLE
MILLIONS
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Our global impact Protecting species

Trading income

Zoo Enterprises Limited (ZEL) – our trading subsidiary – provides merchandising, food and beverage through its retail and catering outlets across both Zoos, plus other commercial activities such as overnight stays and other visitor experiences. Income rose to £16.8m against £16.2m in 21/22, a rise of 3%. The increase is mainly driven by strong catering income, which rose by £0.5m in 22/23 to £8.6m (2022: £8.1m). Retail margins slipped slightly, reflecting higher cost of sales due to inflation. Trading operations, after cost of sales, overhead support and other costs/income generated a net profit of £3.3m, an increase of £0.3m from the prior year. This is wholly gift-aided to the parent charity.

Grants and foundations

Much of our field conservation, science and research work in the UK and overseas is funded by grants from government agencies, institutional donors, trusts, foundations and private individuals. Total conservation and science research income increased by £3.4m (26%) to £16m, from £12.6m in 21/22. Our conservation work, both overseas and in the UK, totalled £8m in 22/23 compared to £6.6m in 21/22, with our science and research income also increasing to £8m from £6m in 21/22.

Donations and legacies

After a very strong 21/22, donations and legacy income totalled £5.7m, a drop of £3.6m from £9.3m in 21/22. Donations dropped by £2.7m to £5.1m, primarily due to a decrease in restricted donations linked to our Snowdon Aviary restoration project – Monkey Valley – in the previous year. Legacies fell by £0.3m to £0.5m, compared to £0.8m in 21/22. Gifts-in-kind income represents services provided to us for free. This dropped by £0.6m to £0.1m, driven by the end of free Christmas advertising that was received in 21/22. We are grateful to all of the supporters who helped us financially through 22/23, as it enables us to continue to invest in our infrastructure, support our conservation work and build our financial sustainability going forward.

Memberships

Member engagement and visitor numbers remained stable in 22/23 at around 0.7m, while membership income grew £0.6m, from £9.6m in 21/22 to £10.2m in 22/23. In 22/23, Whipsnade saw 0.5m visits from members (21/22: 0.5m), while London saw 0.2m visits (21/22: 0.2m).

Membership visits vs Membership income

0.7M MEMBER VISITS £10.2M MEMBERSHIP INCOME

Investments and income from investments

Our investments totalled £6.9m in 22/23 (21/22: £7m), comprising listed investments and investment properties. Listed investments, valued at £3.1m at 30 April 2023 (2022: £3.2m), relate to a restricted scientific fund that is held in the Newton Investment Management ‘Socially Responsible Investment (SRI) Fund for Charities’. Income from this fund remained stable at £0.1m (21/22: £0.1m). The yearly investment revaluation was broadly unchanged, compared to a gain of £0.1m in 21/22. Our other investments comprise three plots of Whipsnade land value: £3.8m (value: unchanged), representing surplus Whipsnade land and cottages.

0.7M MEMBER VISITS £9.6M MEMBERSHIP INCOME

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

Governance and risk

FINANCIAL SUMMARY

Auditor’s report

Financial statements

73 Annual Report and Accounts 2022–23

zsl.org

22/23

21/22

EXPENDITURE

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INCREASE DECREASE TOTAL
76
2.7 75.6
75
74
73 0.3
0.9
72
1.1
71 70.9M
-0.3
70
PROGRAMMES
21/22 EXPENDITURE COST OF GENERATING VOLUNTARY INCOME CONSERVATION FIELD SCIENCE AND RESEARCH TRADING COSTS OF GOODS SOLD AND OTHER COSTS ZOO ANIMAL CARE AND CONSERVATION 22/23 EXPENDITURE
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Goods Sold and admin expenses) rose to £13.5m from £13.3m, a rise of £0.2m. Higher Cost of Goods Sold was partially offset by lower admin costs and a sundry credit.

Total expenditure came to £75.6m in 22/23, compared to £70.9m in 21/22, a rise of £4.7m or 7%. Of this increase, £2.9m arose from higher payroll costs and reflected the need to address the significant cost of living challenges facing all our staff. Utility costs were also higher, at £3.4m in 22/23, a rise of £0.7m. We were also able to continue to invest in our Zoo infrastructure with maintenance costs of £4.4m, a rise of £0.2m.

Net income

Our net income before other recognised gains/losses was £3.8m in 22/23, compared to £8.7m in 21/22. This drop of £4.9m was almost wholly due to higher costs and the impact of higher inflation. The annual Pension Revaluation adjustment required by FRS102 swung from a gain of £8.1m in 21/22 to a loss of £4.6m in 22/23 as the surplus on the overall pension fund was reduced. This resulted in a net movement of funds of -£0.8m in 22/23 compared to a surplus of £16.8m in 21/22.

Costs attributed to generating voluntary (fundraising) income fell from £1.7m in 21/22 to £1.4m in 22/23, largely linked to a reduction in gifts-in-kind benefits.

Expenditure on science and research grew by £0.9m from £7.1m in 21/22 to £8m in 22/23, driven by an increase in both grant-funded and non-grant-funded science and research spend.

As a result of the above, the cost of care of the animals in our Zoos rose to £41.3m, compared to £38.6m in 21/22, an increase of £2.7m.

Subsidiaries

The total cost of our conservation work both overseas and across the UK rose to £11.4m, a rise of £1.1m compared to 21/22. We continued to work closely with our overseas offices and partners to deliver this critical work. Key areas of conservation work in 22/23 included work in Nepal, Philippines and in the UK itself.

As indicated above, merchandising, catering and other customer experience-related activities are undertaken by Zoo Enterprises Limited (ZEL), a subsidiary trading company, with the net profits distributed to the parent charity annually.

Costs associated with staff remuneration, including social security and pension costs, rose to £31.4m, increasing by £2.9m from £28.5m in 21/22.

Indirect support costs – which largely comprise operational staff and establishment support costs – rose by £0.3m to £11.2m in 22/23.

Administration expenses – which we charge to ZEL – decreased by £0.3m to £1.6m, compared to £1.9m in 21/22, due to lower central support costs. ZEL’s net

Total trading costs at our shops, catering outlets and customer experiences at both Zoos (including Cost of

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

Governance and risk

FINANCIAL SUMMARY

Auditor’s report

Financial statements

74

Annual Report and Accounts 2022–23

zsl.org

profit grew to £3.3m from £3m in the prior year and was donated to the parent charity through a deed of covenant Gift Aid transfer.

We successfully closed two dormant subsidiaries: Whipsnade Wild Animal Park Limited and Zoo Operations Limited. An impairment in respect of the recoverability of an intercompany balance related to this closure was recognised in our group financial statements at £0.3m in 22/23 (21/22: £nil).

Capital expenditure

We continue to invest in our buildings and Zoo attractions with higher capital expenditure across both sites. In 22/23 we spent £9.4m on capital expenditure, compared to £8.7m in the previous year (and £2.6m the year before that). The largest of these projects related to the Snowdon Aviary restoration project at London Zoo (renamed ‘Monkey Valley’). This exciting exhibit opened in August 2022 and provides a great walkthrough experience where visitors can get an upclose view of central African monkeys. Other projects included work on our new reptile and amphibian house at London Zoo, along with a new bear house and aardvark centre at Whipsnade.

Annual Capex spend (£m)

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9.4
8.7
2.6
2.2
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85.9 86.7
Funds (£m)
2023
2022
56.2
50.1
17.5
12.2 11.3
25.2
TOTAL FUNDS UNRESTRICTED FUNDS DESIGNATED FUNDS RESTRICTED FUNDS
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Funds (£m) 2023 2022

Our general, free reserves comprise unrestricted funds and exclude all designated funds, including the fixed asset fund used to operate our activities. General reserves – excluding the DB pension scheme revaluation – dropped by £3.2m to £13.5m (2022: £16.6m). The drop in unrestricted funds to £17.5m (2022: £25.2m), a drop of £7.7m, was driven both by the DB pension Scheme revaluation, which saw the pension fund surplus reduce to a lower surplus, generating a loss of £4.6m in 2023 (2022: surplus of £8.1m) and our continuing investment in its infrastructure of £9.4m (2022: £8.7m).

Funds and reserves

Total funds held on 30 April 2023 amounted to £85.9m (2022: £86.7m). Restricted funds, including endowments, rose to £12.2m (2022: £11.3m). Restricted funds include conservation and scientific programme funds of £8.1m and £3.1m respectively (2022: £7.1m and £3.1m respectively) for conservation and scientific research work expected to be carried out in future periods.

Total unrestricted funds held on 30 April 2023 totalled £73.7m (2022: £75.3m). This includes designated funds of £56.2m (2022: £50.1m), of which the majority relates to our fixed assets of £53.1m (2022: £47.2m), comprising land and buildings on our Regent’s Park and Whipsnade sites including our Zoos, science and veterinary facilities. Other designated balances of £3.1m (2022: £2.9m) include heritage assets of £1.8m (2022: £1.8m) and a strategic project reserve of £1.3m (2022: £1.1m).

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems Inspiring change

Making our work possible Sustainability

Governance and risk

FINANCIAL SUMMARY

Auditor’s report

Financial statements

75

Annual Report and Accounts 2022–23

zsl.org

22/23

21/22 20/21 19/20

ZSL reserves policy

Our general (or free) reserves policy is to ensure we hold an appropriate level of accessible funds to mitigate against identified financial risks while ensuring we are making timely and strategic use of funds. The policy focuses purely on the general reserves, as these are the funds at the discretion of the Trustees.

General reserves are held to provide cover for unexpected changes in income and expenditure, allowing us to continue activities in the event of:

• a temporary loss of income;

• a permanent fall in income, allowing time to adjust our cost base or business model; and

• incurring one-off costs that are not covered from donor funds.

Adequate levels of general reserves also allow us to implement new strategic priorities or invest in new opportunities to achieve our goals. Our reserves range is reviewed annually.

We aim to maintain, as a policy minimum, general (free) reserves at £9m, which represents three months’ core operating expenditure.

The Trustees are currently reviewing ZSL’s Reserve Policy.

Liquidity

We held £23.7m total cash at 30 April 2023, compared to £29.2m at 30 April 2022, a decrease of £5.5m, mainly driven by our continued investment in infrastructure (capital investment in 22/23 was £9.4m compared to £8.7m in 21/22). Of the £23.7m total cash, £13.7m was unrestricted (2022: £20.5m), with the rest comprising restricted and designated cash.

Going concern

Our finances remained strong in 22/23, which has enabled the continuing investment in infrastructure while maintaining strong levels of reserves and cash. At 30 April 23 general (free) reserves of £13.5m were £4.5m above our policy minimum, total cash of £23.7m and net assets of £85.9m.

Management regularly monitors our financial health, using detailed tools to review both monthly and future performance and our longer-term financial sustainability. These tools and our risk management processes give management comfort that our financial situation remains secure. In the light of this, the Trustees consider that there are no material uncertainties about the charity and group’s continuing ability to operate as a going concern and to meet its liabilities as they fall due.

Investment policy

Although listed investments have been reduced in recent years (representing only £3.1m at 30 April 2023 and £3.2m at 30 April 2022), we seek to adopt a cautious investment stance to balance potential returns with appropriate levels of risk, having regard to our mission objectives.

Our Charter and Byelaws give the Trustees the right to invest funds in such investments, securities or property as may be thought fit. Our investment managers exclude investments that are contrary to our stated purpose and objectives. Specific areas of constraint include companies involved in marine harvesting, high environmental impact products and those using tropical hardwoods from unsustainable sources.

In addition to the above, and part of general reserves, is £3.8m of Whipsnade land is held as investment property (2022: £3.8m). This comprises three plots of land at Whipsnade that are not essential for the delivery of our charitable objectives.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems Inspiring change

Making our work possible Sustainability

Governance and risk

FINANCIAL SUMMARY

Auditor’s report

Financial statements

76

Annual Report and Accounts 2022–23

zsl.org

The last triennial valuation of the scheme – a separate Pensions Regulator requirement – occurred on 30 June 2020 and resulted in a funding shortfall (technical provisions less value of assets) of £6.7m.

Pension schemes

We operate and participate in two pension schemes: the ZSL 1988 Defined Benefit Pension Scheme (which closed to new entrants in 2011) and the Universities Superannuation Scheme (USS).

Despite the drop in value in the scheme’s assets, the scheme is currently estimated to have moved back into surplus as a result of the rise in longerterm interest rates. The next triennial valuation occurred on 30 June 2023, with its results to be published in October 2023.

ZSL 1988 DB Pension Scheme

The annual accounting valuation of our defined benefit scheme – per the Financial Reporting Council’s FRS102 – shows a surplus of £6m at 30 April 2023 (2022: surplus £8.1m), resulting in the 22/23 revaluation loss of £4.6m. This decrease is largely driven by a reduction of the plan’s invested assets, which was only partly offset by a decrease in the scheme’s long-term obligations. The former occurred during the market turbulence that arose in September 2022 as a result of the poorly received UK Government’s budget, which caused asset values to drop and longer-term interest rates to rise. However, the rise in longer-term interest rates continues to cause a material drop in the scheme’s liabilities and longer-term obligations.

Universities Superannuation Scheme (USS)

The Institute of Zoology is closely affiliated with University College London (UCL) and, as a result, many of its employees are members of the USS Pension Scheme. The most recent valuation of the Universities Superannuation Scheme (USS) as at 30 March 2020 (published in September 2021) showed an increase in the scheme’s deficit.

Per FRS102, we are required to account for our share of the future contributions needed to address this deficit. As at 30 April 2023, our provision in respect of these contributions was £2.0m (2022: £1.7m), an increase of £0.3m.

Funding levels of the ZSL 1988 Scheme continue to be monitored by us and specifically the Pension Trustee on a regular basis.

Remuneration policy

The Trustees determine the overall policy for the remuneration and pension arrangements for our employees and oversee any major changes to employee benefits. Our reward principles are to ensure the same remuneration system applies to all, except where there are justifiable reasons for making separate arrangements. For example, the remuneration policy for many Institute employees is aligned to the higher education sector and has a separate remuneration committee linked to University College London (UCL).

We aim to provide an overall reward package that is competitive within the sectors in which it operates. In assessing levels of remuneration, we use external professional advice and salary survey databases from the public, private and charity sectors. While we recognise that we should not and do not compete directly with the private sector, we do aim to provide an overall reward package that is competitive to continue to attract and retain high-calibre staff to deliver our mission, vision and values.

The remuneration for the Executive Committee is initially determined by the CEO and People Director and is informed by external benchmarking. This is reviewed annually by the People Committee (formerly known as the Remuneration Committee), in line with the pay negotiations determined for the whole organisation, negotiated annually with our recognised trade unions. The remuneration for the CEO is determined by the People Committee, using external benchmarking, and is reviewed annually as above. The terms and conditions, including pension arrangements for the executive team, are determined by the People Committee.

Approved by Council on 10 October 2023 Trustees’ Report signed on behalf of Council

Professor Sir Jim Smith FRS, President

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

Governance and risk

FINANCIAL SUMMARY

Auditor’s report

Financial statements

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----- Start of picture text -----
INCOME
£29.1M
Welcome
£79.4M
Our vision
and purpose
Our targets
for 2022–23
£16.8M
Our global impact
£15.6M
Protecting
species
EXPENDITURE
Living with
£10.2M wildlife
£75.6M Restoring
ecosystems
£5.7M
Inspiring change
£41.3M
£2M Making our
work possible
Sustainability
Governance
and risk
FINANCIAL
£13.5M
SUMMARY
£11.4M
Auditor’s report
£8M
Financial
statements
£1.4M
78
Annual Report
and Accounts
2022–23
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ADMISSIONS TRADING GRANTS MEMBERSHIPS
INVESTMENT INCOME
DONATIONS AND LEGACIESOTHER INCOME INCLUDING
ZOO ANIMAL CARE AND CONSERVATION TRADING COSTS OF GOODS SOLD AND OTHER COSTS SCIENCE AND RESEARCHCOST OF GENERATING VOLUNTARY INCOME
CONSERVATION FIELD PROGRAMMES
----- End of picture text -----

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE ZOOLOGICAL SOCIETY OF LONDON

Welcome

Our vision and purpose

Our targets for 2022–23

OPINION

We have audited the financial statements of the Zoological Society of London (the ‘parent charity’) and its subsidiaries (the ‘group’) for the year ended 30 April 2023 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the group’s and parent charity’s affairs as at 30 April 2023 and of their incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

BASIS FOR OPINION

We have been appointed as auditors under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s

responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s or parent charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

Governance and risk

Financial summary

AUDITOR’S REPORT

Financial statements

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OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information, and we do not express any form of assurance conclusion thereon.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the Trustees’ Annual Report; or

• sufficient accounting records have not been kept by the parent charity; or

• the parent charity financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

RESPONSIBILITIES OF TRUSTEES

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

As explained more fully in the Statement of Trustees’ responsibilities set out on page 68, 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.

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.

In preparing the financial statements, the Trustees are responsible for assessing the group’s and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or parent charity or to cease operations, or have no realistic alternative but to do so.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

Governance and risk

Financial summary

AUDITOR’S REPORT

Financial statements

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THE EXTENT TO WHICH THE AUDIT WAS CONSIDERED CAPABLE OF DETECTING IRREGULARITIES, INCLUDING FRAUD

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of noncompliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses, and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

• obtained an understanding of the nature of the sector, including the legal and regulatory framework, that the group and parent charity operate in and how the group and parent charity is complying with the legal and regulatory framework;

• inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;

• discussed matters about non-compliance with laws and regulations and how fraud might occur, including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Charities Act 2011, the parent charity’s governing document and Charities (Protection and Social Investment) Act 2016. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements, which included reviewing the financial statements (including the Trustees’ Report) and remaining alert to new or unusual transactions which may not be in accordance with the governing documents.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to animal welfare, data protection, health and safety and fundraising. We performed audit procedures to inquire of management and those charged with governance whether the group is in compliance with these law and regulations and inspected correspondence with regulatory authorities.

The audit engagement team considered the areas of risk comprising management override of controls and income completeness as the areas where the financial statements were most susceptible to material misstatement due to fraud. Income completeness included donations, legacies, grants, merchandise, membership, catering and other income. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to any significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates, substantive testing, and analytical procedures around the completeness of income.

A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Council’s website at frc.org.uk/ auditorsresponsibilities . This description forms part of our auditor’s report.

USE OF OUR REPORT

This report is made solely to the charity’s Trustees as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity’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 charity and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

RSM UK Audit LLP

Statutory Auditor Chartered Accountants

25 Farringdon Street London EC4A 4AB

Date: 11 October 2023

RSM UK Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

Governance and risk

Financial summary

AUDITOR’S REPORT

Financial statements

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CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2023

Notes Income and endowments from: Donations and legacies 2 Charitable activities: 3 – Zoo animal care and conservation – Science and research – Conservation and policy Trading activities 4 Investment income 5 Other income Total income Expenditure on: Raising funds: Costs of generating voluntary income Trading: Costs of goods sold and other costs 4 Charitable activities: – Zoo animal care and conservation – Science and research – Conservation and policy Total expenditure 6 Net gains/(losses) on investments 12 Net income Other recognised gains/(losses): Remeasurement of defned beneft pension obligation 18 Transfers between funds 16 Net movement in funds Reconciliation of funds: Total funds brought forward 16 Total funds carried forward 023	Unrestricted Restricted incl. Endowment 2022/23 Total 2021/22 Total £000 £000 £000 £000 2,603 3,088 5,691 9,343 39,910 35 39,945 41,136 2,578 5,461 8,039 5,989 20 7,984 8,004 6,621 16,766 - 16,766 16,238 501 72 573 115 386 2 388 68
	62,764 16,642 79,406 79,510 1,332 100 1,432 1,694 13,523 - 13,523 13,253 40,417 838 41,255 38,546 3,795 4,182 7,977 7,128 2,169 9,206 11,375 10,264
	61,236 14,326 75,562 70,885 - (19) (19) 64
	1,528 2,297 3,825 8,689
	(4,609) - (4,609) 8,100 1,436 (1,436) - -
	(1,645) 861 (784) 16,789
	75,344 11,371 86,715 69,926
	73,699 12,232 85,931 86,715

Endowment funds

Restricted expenditure includes any financial activity related to endowment funds. Further detail of endowment fund movements can be found in note 16

Welcome

Our vision and purpose

Our targets for 2022–23 Our global impact Protecting species

Living with wildlife

Restoring ecosystems Inspiring change Making our work possible Sustainability Governance and risk Financial summary Auditor’s report FINANCIAL STATEMENTS

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CONSOLIDATED AND CHARITY BALANCE SHEETS AS AT 30 APRIL 2023

Notes Fixed assets Intangible assets 9 Tangible assets 10 Heritage assets 11 Investments 12 Current assets Stock 13 Debtors 14 Cash at bank and in hand Liabilities Creditors: amounts falling due within one year 15a Net current assets Creditors: amounts falling due in more than one year 15b Net assets excluding pension scheme assets Defned beneft pension scheme assets 18 Net assets Funds Unrestricted funds excluding pension liability and holiday pay accrual: – General – Designated Unrestricted – Pension reserve Holiday pay accrual Total unrestricted funds Restricted funds – Endowments – Other Total restricted funds Total funds 16	Group 2023 2022 £000 £000 - - 53,092 47,248 2,170 2,170 6,944 6,963 62,206 56,381 634 701 8,802 8,361 23,739 29,228 33,175 38,290 (13,585) (16,641) 19,590 21,649 (1,849) (1,580) 79,947 76,450 5,984 10,265 85,931 86,715 14,111 17,259 56,247 50,149 70,358 67,408 3,979 8,559 (638) (623) 73,699 75,344 41 38 12,191 11,333 12,232 11,371 85,931 86,715	Charity 2023 2022 £000 £000 - - 53,092 47,248 2,170 2,170 7,056 8,390
		62,318 57,808 - - 9,560 15,616 22,868 21,269
		32,428 36,885 (12,950) (17,021)
		19,478 19,864 (1,849) (1,580)
		79,947 76,092 5,984 10,265
		85,931 86,357
		14,111 16,901 56,247 50,149
		70,358 67,050 3,979 8,559 (638) (623)
		73,699 74,986
		41 38 12,191 11,333
		12,232 11,371
		85,931 86,357

Approved by Council on 10 October 2023 and signed on their behalf by:

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

FINANCIAL STATEMENTS

83

Annual Report and Accounts 2022–23

zsl.org

Professor Sir Jim Smith FRS, President

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2023

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023

Welcome

FOR THE YEAR ENDED 30 APRIL 2023
Notes Cash fows from operating activities 21a Cash fows from investment activities Interest received on bank and cash balances Investment income Purchase of tangible fxed assets Net cash used in investing activities Change in cash and cash equivalents in the reporting year 21b Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	Group 2022/23 2021/22 £000 £000 3,375 15,900 501 49 72 66 (9,437) (8,688)
	(8,864) (8,573)
	(5,489) 7,327 29,228 21,901
	23,739 29,228

1. Accounting policies

The Zoological Society of London is a registered charity in England and Wales (charity number 208728). The registered address is Regent’s Park, London, NW1 4RY.

Basis of preparation and assessment of going concern

The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019) – (Charities SORP (FRS 102)), FRS102 and the Charities Act 2011.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these financial statements.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following 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) (second edition effective 1 January 2019) – (Charities SORP (FRS 102)).

The Society constitutes a public benefit entity as defined by FRS 102.

The Consolidated Financial Statements are presented in sterling, which is the functional currency of the Society.

Monetary amounts in these financial statements are rounded to the nearest whole £1,000 except where otherwise indicated.

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

FINANCIAL STATEMENTS

The Charity has taken advantage of the paragraph 1.11 Section 1, Cash flows, of FRS102 and as such has not shown an individual charity cash flow statement within these financial statements on the basis that it is a qualifying entity and the Consolidated Statement of Cash Flows included within these financial statements includes the charity’s own cash flows.

Going Concern

ZSL’s finances remained strong in 22/23, which enabled significant investment in its infrastructure whilst also maintaining strong levels of reserves. ZSL’s general reserves of £13.5m at 30 April 2023 (2022: £16.6m) are £4.5m above ZSL’s current policy minimum reserves level of £9m. Furthermore ZSL had a cash balance of £23.7m and net assets of £85.9m at 30 April 2023.

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Management use detailed tools to review and forecast both monthly performance and ZSL’s longer-term financial sustainability. These tools and ZSL’s risk management processes give comfort that ZSL’s financial situation remains secure. In the light of this, the Trustees consider that there are no material uncertainties about the charity and group’s ability to operate as a going concern and meet its liabilities as they fall due.

Consolidation

The financial statements consolidate on a line-by-line basis the results and the assets and liabilities of the Society and its wholly owned subsidiary, Zoo Enterprises Limited. The Consolidated Statement of Financial Activities represents the results of both the charitable and non-charitable activities of the group. A separate Statement of Financial Activities for the Charity itself is not presented; however, a summary statement of Financial Activities for the charity itself is presented in note 24. The results for the activities carried out by the Society’s subsidiary are set out in note 4 in respect of catering and merchandising and in note 12 in respect of other activities.

Funds

The Society maintains a number of internal funds, including both restricted and unrestricted funds:

Unrestricted – general fund

The general fund contains the free funds of the Society.

Unrestricted – designated funds

These funds are derived from donations, grants, bequests, heritage assets not held for sale and other resources set aside to be used in accordance with the resolutions passed by the Council of the Society. Both the capital and income may be spent. Until expended, the funds are held in cash, intangible fixed assets, heritage assets, investment property or tangible fixed assets.

Restricted – endowment funds

These funds are derived from bequests to the Society, are held permanently by the Trustees, and comprise investments, the income from which may be used to support Society activities.

Restricted – other funds

These funds are subject to specific restriction imposed by the donor, by the purpose of an appeal or are received for a specific purpose.

Fund transfers

Restricted funds are transferred to unrestricted funds on occasions when restricted income has been used and restrictions no longer apply. For example in the acquisition of tangible fixed assets, when the asset is purchased the equal value of the restricted fund is transferred to unrestricted funds.

Income

In accordance with the SORP, all income including Gift Aid on admissions, becoming receivable by the Society during the year are recognised in the Consolidated Statement of Financial Activities, regardless of their source or of the purpose to which they are to be put or have been put. The exception to this relates to membership income and similar income, which is deferred to the extent that it relates to a service to be provided in future years, and grants and donations that are deferred where milestones and conditions for recognition are expected to be met in future years.

Where income is received for a specific purpose, the income is included in Restricted Funds.

Income from conservation and scientific research grants is recognised in accordance with the recognition criteria of SORP when entitlement is assured, there is probability of receipt, and when the amount can be reliably measured. Government grants are recognised when received.

Legacies are recognised when the Society is entitled to the asset and have been advised that it is probable that payment will be made or assets transferred and the amount involved can be reasonably quantified.

Donated goods, facilities and services (Gifts in kind) are recognised on the basis of estimated current market value and recognised in the period in which they are receivable.

Gift Aid on membership income is recognised when the Society becomes entitled to it which is the year that the associated donation was made.

Receipts that have arisen as result of HM Government’s Coronavirus job retention (furlough) scheme are reported as other income.

Expenditure

Expenditure is recognised when a liability is incurred. Expenditure is allocated to categories in accordance with the main activity of the staff concerned or the substance of the costs incurred as set out in note 6. Resources expended include the costs of raising funds and charitable expenditure, including support, management and administration costs. Gifts in kind are valued at market value or on a valuation basis agreed with the supplier providing the asset or service.

Governance costs are a component of support costs and include those expenses incurred in the governance of the Society’s assets and are primarily associated with constitutional and statutory requirements and include an appropriate proportion of senior management time. Support Costs have been allocated to each of the charity’s core chargeable activities in the proportion that the activity has to the total of all other costs as set out in note 6. Support costs are those costs incurred in support of expenditure on the objectives of the Society as set out in note 6.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems

Inspiring change

Making our work possible

Sustainability

Governance and risk

Financial summary

Auditor’s report

FINANCIAL STATEMENTS

85

Annual Report and Accounts 2022–23

zsl.org

VAT

Admissions income is treated as VAT exempt and accordingly, as a partially exempt body, ZSL may not recover all VAT paid. The exception is VAT incurred in connection with the catering and merchandising operations that operate through the subsidiary company, which is fully recoverable. Irrecoverable VAT, with the exception of capital works, is charged as a support cost and allocated to core activity costs based upon the total expenditure during the financial year. Any irrecoverable VAT incurred on capital works is capitalised along with the cost. Catering and merchandising income is stated excluding VAT.

Tangible assets and depreciation

Fixed assets acquired by purchase or gift are initially recognised at cost or valuation and are subsequently depreciated (with the exception of freehold land and assets under construction, which are not depreciated) on a straight-line basis at rates appropriate to write off the cost over their expected useful lives. Freehold buildings are depreciated over five to 50 years; leasehold buildings from three years to the shorter of the lease term and 50 years; plant and equipment five to 15 years; and motor vehicles five to 20 years.

Assets under construction consist of expenditure incurred in respect of tangible assets in the course of their construction and installation and that are directly attributable to bringing the asset into operation, these assets are not depreciated. Transfers are made to the relevant fixed assets category as and when the assets are available for use.

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Individual tangible fixed assets with a cost below £5,000 are charged to expenditure and are not capitalised. When a number of assets are purchased in a single purchase where individually they have a cost less than £5,000 but cumulatively the figure is greater, these assets are capitalised when they share an identical useful life.

Intangible assets and amortisation

Intangible assets are stated at cost less accumulated amortisation. Amortisation is calculated using the straight line method to allocate the depreciable amount of the assets to their residual values over their estimated useful lives. Intangible assets comprise software and the website and are amortised between three and five years.

The carrying values of intangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. Intangible assets with an original cost of under £5,000 are charged to expenditure and are not capitalised.

Assets under construction consist of expenditure incurred in respect of intangible assets in the course of their construction and installation and that are directly attributable to bringing the asset into operation, these assets are not depreciated. Transfers are made to the relevant fixed assets category as and when the assets are available for use.

Foreign currencies

Transactions in foreign currencies are recognised at the rate of exchange at the date of the transaction. Any exchange differences are recognised through the Consolidated Statement of Financial Activities. Foreign exchange monetary assets and liabilities are recognised at the rate of exchange ruling at the balance sheet date.

Investments

Listed investments are included in the balance sheet at fair market value based on their published bid price. Investment income is accounted for on an accruals basis.

Other investments comprise investments in subsidiaries and are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

Assets that are surplus to the achievement of ZSL’s charitable objects, and with a view to possible future disposal, are valued at market value.

Investment properties

Investment properties are included in the balance sheet at fair market value based on the most recent valuation by an independent valuer, with realised and unrealised gains or losses recognised in the Consolidated Statement of Financial Activities, in the year in which they arise. There are no restrictions on the realisability of income from such investment property nor proceeds of its disposal. Similarly there are no obligations to develop such property nor obligations for repair, maintenance or enhancements.

Stocks

Stocks are stated at the lower of direct cost (determined on a first-in, first-out basis) and net realisable value.

Animals

The animals are generally acquired by the Society from other zoological organisations at zero cost or bred in our Zoos, and a realistic valuation cannot be placed thereon. Many of the animals acquired are held in trust with other zoological societies at zero cost.

Heritage assets

ZSL holds a collection of books and artwork located at the ZSL London Zoo site, which is held to support ZSL’s charitable objectives, being the advancement of zoology. The collection of books and artwork is held to advance zoology by facilitating the improvement and dissemination of zoological knowledge.

The collection was professionally valued during the 2019/20 financial year and the Trustees do not believe the value to have changed materially. The Trustees anticipate that these collections will be revalued periodically and impaired if required. All heritage assets are therefore held at valuation.

The Trustees have considered guidance from Charities SORP, FRS102 relating to the valuation of the heritage assets.

Welcome

Our vision and purpose

Our targets for 2022–23

Our global impact

Protecting species

Living with wildlife

Restoring ecosystems Inspiring change

Making our work possible Sustainability

Governance and risk

Financial summary

Auditor’s report

FINANCIAL STATEMENTS

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Annual Report and Accounts 2022–23

zsl.org

Redundancy payments

Termination benefits are payable when employment is terminated. The charity recognises termination costs at the point at which management is committed to incur these costs.

Donated facilities

The Society leases the Regent’s Park site from the Department for Culture, Media and Sport. The lease was renewed in 2021 for a term of 60 years at no annual rent. The Trustees do not believe it is practicable to reasonably quantify and measure the benefit conferred to the Society under this rent-free arrangement due to the Zoo’s unique location and, as such, have not included the value of this donated facility in the Consolidated Statement of Financial Activities.

Advertising costs

Costs incurred in relation to advertising are charged to the Consolidated Statement of Financial Activities at the time the advertisements appear in the media or are otherwise made public. Amounts invoiced but not yet taken to the Consolidated Statement of Financial Activities are included in prepayments.

Pension costs

The Society participates in various defined benefit and defined contribution pension schemes:

Defined benefit schemes

The cost of providing benefits under the ZSL 1988 defined benefit plan is determined using the projected unit credit method, and is based on actuarial advice.

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the year in which they arise.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the year as a result of contribution and benefit payments. The net interest is recognised in the Consolidated Statement of Financial Activities as other finance revenue or cost.

price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

The Society participates in the Universities Superannuation Scheme. The scheme is a hybrid pension scheme, providing defined benefits (for all members), as well as defined contribution benefits. The assets of the scheme are held in a separate Trustee-administered fund. Because of the mutual nature of the scheme, the assets are not attributed to individual employers and a scheme-wide contribution rate is set. The Society is therefore exposed to actuarial risks associated with other institutions’ employees and is unable to identify its share of the underlying assets and liabilities of the scheme on a consistent and reasonable basis. As required by Section 28 of FRS 102 “Employee benefits”, the Society therefore accounts for the scheme as if it were a wholly defined contribution scheme. As a result, the amount charged to the Consolidated Statement of Financial Activities represents the contributions payable to the scheme. Since the Society has entered into an agreement (the Recovery Plan) that determines how each employer within the scheme will fund the overall deficit, the Society recognises a liability for the contributions payable that arise from the agreement (to the extent that they relate to the deficit) and therefore an expense is recognised.

Defined contribution scheme

Contributions to defined contribution schemes are recognised in the Consolidated Statement of Financial Activities in the year in which they become payable. Any unpaid (or prepaid) contributions are separately disclosed within note 18.

Leasing commitments

Rentals payable under operating leases are charged to the Consolidated Statement of Financial Activities on a straight-line basis over the lease term.

Where assets are financed by leasing agreements that give rights approximating to ownership (“finance lease”), assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable during the lease term. The corresponding leasing commitments are shown as obligations to the lessor. Lease payments are treated as consisting of capital and interest elements, and the interest is charged to the Consolidated Statement of Financial Activities in proportion to the remaining balance outstanding.

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FINANCIAL STATEMENTS

Financial instruments

Remeasurement changes comprise actuarial gains and losses, the effect of any asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in the other recognised gains and losses in the year in which they occur and are not reclassified to the net income/expenditure in subsequent years.

The defined net benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high-quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets or financial liabilities.

Debtors and creditors

Trade, group and other types of debtor balance which are receivable within one year are initially measured at the transaction price. Trade and group debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. Prepayments are valued at the amount prepaid net of any trade discounts due.

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Other creditors, trade creditors payable and accruals within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. Deferred income is recognised as the amount received in advance of the goods and services being provided.

Critical accounting estimates and judgements

The Society makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are those used by the scheme actuary in calculating the Society’s defined benefit pension scheme liability (see note 18 for details), estimating the useful economic life of tangible fixed assets for the purpose of determining an annual depreciation charge, and estimating the fair value of investment properties.

The useful economic life of tangible fixed assets is estimated when the asset is purchased or when it is brought into use. This is based on our historical experience together with anticipation of future events. The fair value of investment properties is based on the latest external valuation dated March 2020. External market data has been reviewed in 22/23 to confirm there has been no material changes to investment properties since this valuation.

2. Donations and legacies

Donations Legacies Gifts in kind	2022/23 2021/22 Unrestricted Restricted Total Unrestricted Restricted Total £000 £000 £000 £000 £000 £000 2,233 2,875 5,108 3,115 4,718 7,833 257 213 470 517 326 843 113 - 113 667 - 667
	2,603 3,088 5,691 4,299 5,044 9,343

3. Charitable activities income

Zoo species collections and conservation Admissions Membership Grant income Other Science and research Grants Studentships Other Conservation and policy Grants Other Total income from charitable activities	2022/23 2021/22 £000 £000 29,053 30,867 10,204 9,596 36 137 652 536
	39,945 41,136
	7,739 5,707 290 282 10 -
	8,039 5,989
	7,882 6,603 122 18
	8,004 6,621
	55,988 53,746

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Income from Zoo species collections and conservation includes those derived from providing: access to ZSL London Zoo and ZSL Whipsnade Zoo to view the collections and to learn about animals and conservation; animal adoption services; animal keeping experiences; and animal and conservation educational services inside and outside (outreach programmes) the Zoos. Income from science and research and conservation field programmes include the following government grants:

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Government grants Research England Department for Environment, Food & Rural Afairs (DEFRA) Natural England Foreign, Commonwealth & Development Ofce Medical Research Council US Government Guam Government German Government NERC Biotechnology and Biological Sciences Research Council Welsh Government Scottish Government Engineering & Physical Sciences Research Council United Nations UK Government Environment Agency EU

2022/23 2021/22 £000 £000 2,134 2,502 1,508 1,416 564 123 256 228 183 241 156 590 127 - 92 - 89 230 68 - 56 56 49 - 8 - 8 - - 295 - 444 - 243 5,298 6,368 Annual Report and Accounts 2022–23 zsl.org 88 Financial summary Auditor’s rep FINANCIAL STATEMENTS

Auditor’s report

Annual Report and Accounts 2022–23 zsl.org

The Coronavirus Job Retention Scheme (CJRS) receipt of £nil (2021/22: £29,445), received to April 2023, (reported as other income) is the only other form of direct financial assistance that has been received from the UK Government.

For government grants recognised as income, there are no unfulfilled conditions or contingencies attached which have not been adhered to.

Gift Aid on membership income was recognised when the income was received and contributed an additional £1,638,000 to total income (2021/22: £1,849,000).

4. Trading activities

The Society wholly owns Zoo Enterprises Limited, which undertakes the merchandising, catering activities, overnight experiences in our lodges at London Zoo and Whipsnade Zoo and other commercial activities.

Taxable net profits are distributed to the Society annually.

The turnover and net contribution to the Society from catering and merchandising in Zoo Enterprises Limited (ZEL) were as follows:

Turnover: Catering Merchandising Other commercial income Cost of activities Trading income (net) Other income Support and overhead costs Interest receivable Net proft for the year before distribution	2022/23 2021/22 £000 £000 8,592 8,106 5,910 5,777 2,274 2,355
	16,776 16,238 (12,376) (11,341)
	4,400 4,897
	478 - (1,625) (1,915) 15 1
	3,268 2,983

Catering, merchandising and other commercial activity turnover of £16.8m (2021/22: £16.3m) is included in the Consolidated Statement of Financial Activities within ‘trading activities’. ZEL’s other income of £478,000 relates to the closure of the wholly owned subsidiaries, Zoo Operations Limited (ZOL) and Whipsnade Wild Animal Park Limited (WWAP) (overall net impact to the group: an expense of £348,000). Cost of activities, support and overhead costs of £13.5m (2021/22: £13.2m) are included within trading while £15,000 (2021/22: £1,000) is included as interest receivable.

5. Interest and investment income

Interest on bank and cash balances Investment income	2022/23 2021/22 £000 £000 501 49 72 66
	573 115

6. Group analysis of total expenditure

Charitable activities: Zoo animal collection and conservation Science and research Conservation feld programmes Expenditure on raising funds: Cost of generating voluntary income Trading costs of goods sold and other costs	Direct staf costs Direct costs Other support costs 2022/23 2021/22 £000 £000 £000 £000 £000 13,578 21,281 6,396 41,255 38,546 4,323 2,417 1,237 7,977 7,128 4,706 4,905 1,764 11,375 10,264
	22,607 28,603 9,397 60,607 55,938 724 486 222 1,432 1,694 1,915 9,983 1,625 13,523 13,253
	2,639 10,469 1,847 14,955 14,947 25,246 39,072 11,244 75,562 22,245 37,688 10,952 70,885
Total Group expenditure in 2022/23
Total Group expenditure in 2021/22

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Trustees’ expenses were £nil in 2022/23 (2021/22: £1,000 and relate to four Trustees expenses related to travel and subsistence) and no Trustee, nor any persons connected to the Trustees, received remuneration for their services in either year. The Society pays the insurance premiums on behalf of the Trustees in respect of professional indemnity insurance. The premium paid is incorporated with the general professional liability premiums and so is not separately identifiable.

Analysis of support costs Staf and related costs Computer services Depreciation and amortisation Insurance Bank charges Irrecoverable VAT Pension costs (ZSL 1988 scheme and USS scheme) including insurance Governance costs Holiday pay accrual movement Bad debt provision Foreign exchange movement Rates Subsiduary dissolution and other write ofs Other costs	2022/23 2021/22 £000 £000 6,801 6,476 748 841 443 175 522 489 173 174 364 593 604 1,172 84 106 15 (181) 14 (3) 21 (39) 410 184 121 (52) 924 1,017
	11,244 10,952

There are no other reportable transactions with Trustees. The auditor’s remuneration for non-audit services is in respect of fees in connection with general tax advice and consultancy.

8. Staff costs and remuneration of key management personnel

Salaries and wages (including those of key management personnel) Social security costs Pension costs – Defned beneft (including fnance costs) Pension costs – Defned contribution Other staf costs	2022/23 2021/22 £000 £000 26,288 23,498 2,367 2,067 - - 2,240 1,964 475 991
	31,370 28,520

These costs have been allocated to the activities on the basis of total expenditure by activity.

7. Net expenditure

Included within salaries and wages above is £33,000 of redundancy payments in the year (2021/22: £34,000) which included ex-gratia payments of £9,600 (2021/22: £4,000). In addition to the above, the cost of temporary staff in the year was £23,000 (2021/22: £31,000).

Net expenditure before other recognised gains/(losses) is stated after charging/ (crediting) the following items:

			was £23,000 (2021/22: £31,000).
	2022/23	2021/22
	£000	£000	The average actual number of employees during the year was as follows:
Auditor’s remuneration:
Audit services – charged by RSM UK Audit LLP	98	87
Audit services for pension scheme – charged by RSM UK				Average monthly headcount
Audit LLP	11	10			Restated
Non-audit services – charged by RSM UK Tax and				2022/23	2021/22
Accounting Limited:				No.	No.
Tax Advisory	19	26	Zoo animal collection and conservation	347	327
Other fnancial consultancy services Amortisation	- -	59 58	Science and research Conservation feld programmes	87 175	81 186
Depreciation	3,607	3,646	Cost of generating funds - voluntary income	19	15
Impairment charge (net)	-	1,006	Cost of generating funds - trading	48	30
Operating lease rentals in respect of plant, equipment			Support staf	89	84
and motor vehicles	499	494		765	723
Foreign exchange losses/(gains)	21	(17)
Trustees’ expenses	-	1

The above is based solely on number of employees on a monthly basis; given the large number of part-time seasonal staff, the FTE is significantly lower than this.

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The number of employees with emoluments in excess of £60,000 pa (high-paid employees) exclusive of pension contributions were:

Band £60,001 - £70,000 £70,001 - £80,000 £80,001 - £90,000 £90,001 - £100,000 £100,001 - £110,000 £120,001 - £130,000 £140,001 - £150,000 £200,001 - £210,000	2022/23 2021/22 No. No. 24 26 9 8 4 6 5 1 3 5 1 - 1 - - 1
	47 47

The key management personnel of ZSL comprise the Trustees, who are not remunerated, as well as the Executive Committee, which at 30 April 2023 comprised the Chief Executive Officer, the Chief Financial Officer, the Director of Zoos, the Chief Operating Officer of Whipsnade Zoo, Director of Fundraising, Director of Conservation and Policy, Interim Director of Science and Head of Human Resources. The Chief Executive Officer joined ZSL in September 2022.

The total employee benefits, including employer pension contributions and redundancy of key management personnel of ZSL were £1,002,000 (2021/22: £1,076,000), and employer NI contributions for these personnel were £107,000 (2021/22: £108,000). The total FTE Executive Committee members for the year ended 30 April 2023 were eight (30 April 2022: eight).

9. Intangible assets

Group and Charity Cost: At 1 May 2022 Disposal Additions during the year At 30 April 2023 Amortisation: At 1 May 2022 Disposal Charge for the year At 30 April 2023 Net book value: NBV at 30 April 2023 NBV at 30 April 2022	Software assets Total £000 £000 1,148 1,148 (1,148) (1,148) - -
	- -
	1,148 1,148 (1,148) (1,148) - -
	- -
	- -
	- -

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10. Tangible assets

Group and Charity Cost: At 1 May 2022 Additions during the year Transfers of assets under construction At 30 April 2023 Depreciation: At 1 May 2022 Charge for the year At 30 April 2023 Net book value: At 30 April 2023 At 30 April 2022	Freehold land and buildings Buildings on leased land Assets under construction Plant and equipment Motor vehicles Total £000 £000 £000 £000 £000 £000 28,759 67,380 6,389 8,674 613 111,815 702 3,363 5,115 218 39 9,437 130 5,759 (5,889) - - -
	29,591 76,502 5,615 8,892 652 121,252
	18,535 38,097 - 7,327 608 64,567 946 2,529 - 115 3 3,593
	19,481 40,626 - 7,442 611 68,160
	10,110 35,876 5,615 1,450 41 53,092
	10,224 29,283 6,389 1,347 5 47,248

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All tangible fixed assets are held by ZSL and substantially all are used for the charitable purposes of the Society.

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11. Heritage assets

Group and Charity Value as at 1 May 2022 Value at 30 April 2023	Library Assets Total £000 £000 2,170 2,170 2,170 2,170

ZSL holds an extensive collection of heritage books and artwork relating to zoological science and conservation. A valuation of this collection was carried out in 19/20 and is included at estimated market value. Each item of the collection has been individually catalogued and the records held at ZSL’s Regent’s Park site. Each assets value is an average of two estimated auction rates provided by professional auctioneers, less an allowance for sales commission at the time of valuation.

ZSL holds all fixed assets within designated funds as they are for the furtherment of the charitable objectives of the Society. Currently within heritage assets there are £364,000 (2022: £364,000) of assets which are classified under general funds as they are deemed to be held for sale at a future point.

New acquisitions to these collections are usually made by donation and are recorded at the current value where available. ZSL holds and retains the collections as a long-term policy for use in its charitable purposes.

The collections are accessible to the public and scientists in a number of ways; a significant proportion of the collection is on show in the library which can be accessed by the public and the remainder held in an archive. Specific items in the archive are available to view on express request.

Five year Summary of transactions Opening Balance at 1 May Additions In-year adjustment to heritage asset value Value at 30 April	2022/23 2021/22 2020/21 2019/20 2018/19 £000 £000 £000 £000 £000 2,170 2,170 2,275 - - - - - 2,275 - - - (105) - -
	2,170 2,170 2,170 2,275 -

12. Investments

Group and Charity Listed investments at market value: Other Investment Portfolio (UK) Investment property Total Group investments Charity Unlisted investments at cost: Investment in Zoo Enterprises Limited Investment in Zoo Operations Limited Total Charity investments Listed investments historical cost	Valued at 1 May 2022 Valuation Disposal Impairment Valued at 30 April 2023 £000 £000 £000 £000 £000 3,163 (19) - - 3,144 3,800 - - - 3,800
	6,963 (19) - - 6,944
	112 - - - 112 1,315 - (1,315) - -
	1,427 - (1,315) - 112
	8,390 (19) (1,315) - 7,056
	1,690 - - - 1,690

Investment property comprises three plots of land at Whipsnade that are not essential to the delivery of ZSL’s charitable objectives. The land at ZSL Whipsnade Zoo was purchased by the Society many years ago at negligible cost. This was valued by a professional firm of surveyors during 2019/20 at an estimated market value of £3.8m. This valuation was on the basis of similar land / property transactions in the market at the date of valuation. ZSL plans to look at opportunities to realise greater income from these assets. The Trustees are not aware of any other material difference between the carrying value and the market value of land and buildings since the 19/20 valuation.

The shares in ZSL’s wholly owned subsidiary, Zoo Enterprises Limited (ZEL) (company number 1178687), undertakes the merchandising, catering and commercial operations at ZSL London Zoo and ZSL Whipsnade Zoo and Gift Aids its profits to ZSL annually. The results of Zoo Enterprises Limited are set out in note 4.

During the year to 30 April 2023 the two wholly owned subsidiaries Zoo Operations Limited (ZOL, company number 2226414) and Whipsnade Wild Animal Park Limited (WWAP, company number 990860) were dissolved. Both of these companies ceased trading on 31 December 2015.

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The value of investments at 30 April 2023 where ZSL owns more than 5% of the holding included the following significant investments:

2023 £000 Zoo Enterprises Limited 112

The financial position of the individual subsidiaries was as follows:

	Assets	Liabilities	Funds	Assets	Liabilities	Funds
	2023	2023	2023	2022	2022	2022
	£000	£000	£000	£000	£000	£000
Zoo Enterprises Limited	2,404	(2,292)	112	9,386	(9,274)	112
Zoo Operations Limited	-	-	-	1,661	-	1,661
Whipsnade Wild Animal
Park Limited	-	-	-	357	-	357

13. Stock

Finished goods	Group 2023 2022 £000 £000 634 701 634 701	Charity 2023 2022 £000 £000 - -
		- -

14. Debtors

14. Debtors
Trade debtors Amounts owed by group companies Other debtors Prepayments Accrued income	Group 2023 2022 £000 £000 4,076 1,580 - - 508 1,163 940 1,074 3,278 4,544 8,802 8,361	Charity 2023 2022 £000 £000 3,176 928 1,658 7,907 508 1,163 940 1,074 3,278 4,544
		9,560 15,616

15.a Creditors due in less than one year

Trade creditors Amounts owed to group companies Taxation and social security Accruals Deferred income Other creditors	Group 2023 2022 £000 £000 3,250 6,926 - - 988 679 4,456 3,328 4,528 5,354 363 354 13,585 16,641	Charity 2023 2022 £000 £000 2,930 6,610 - 1,441 988 679 4,376 3,262 4,293 4,675 363 354
		12,950 17,021

The movement in deferred income included within creditors amounts falling due within one year is analysed below:

Deferred income at 1 May Amounts released from prior year Incoming resources deferred Deferred income at 30 April	Group 2023 2022 £000 £000 5,354 4,889 (5,354) (4,889) 4,528 5,354 4,528 5,354	Charity 2023 2022 £000 £000 4,675 4,092 (4,675) (4,092) 4,293 4,675
		4,293 4,675

Deferred income comprises membership and similar income, which relates to services that will be provided in future years, and grants and donations where milestones and conditions for recognition are expected to be met in future years.

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15.b Creditors due in more than one year

USS pension liability (note 18)	Group 2023 2022 £000 £000 1,849 1,580 1,849 1,580	Charity 2023 2022 £000 £000 1,849 1,580
		1,849 1,580

16. Funds

Movement of funds for the year – Group

						At 30
	At 1 May				Gains/	April
	2022	Income	**Expenditure **	Transfers	(losses)	2023
	£000	£000	£000	£000	£000	£000
Unrestricted funds:
General fund before
pension asset	17,259	62,436	(60,226)	(5,358)	-	14,111
Holiday pay accrual	(623)	-	(15)	-	-	(638)
Pension asset	8,559	328	(299)	-	(4,609)	3,979
General fund after
pension asset	25,195	62,764	(60,540)	(5,358)	(4,609)	17,452
Designated funds
ZSL strategic projects	1,095	-	(696)	950	-	1,349
Tangible and intangible
fxed asset fund	47,248	-	-	5,844	-	53,092
Heritage asset fund	1,806	-	-	-	-	1,806
	50,149	-	(696)	6,794	-	56,247
Restricted funds:
Endowment funds
Fantham Bequest	38	-	-	-	3	41
	38	-	-	-	3	41
Other restricted funds
Scientifc	3,144	-	-	-	(22)	3,122
Curatorial projects	92	62	(18)	(15)	-	121
Fundraising development	952	2,734	(1,419)	(1,421)	-	846
Conservation and
science	7,145	13,846	(12,889)	-	-	8,102
	11,333	16,642	(14,326)	(1,436)	(22)	12,191
Total funds	86,715	79,406	(75,562)	-	(4,628)	85,931

Movement of funds for the year – Charity

						At 30
	At 1 May				Gains/	April
	2022	Income	**Expenditure **	Transfers	(losses)	2023
	£000	£000	£000	£000	£000	£000
Unrestricted funds:
General fund before
pension asset	16,901	48,938	(46,370)	(5,358)	-	14,111
Holiday pay accrual	(623)	-	(15)	-	-	(638)
Pension asset	8,559	328	(299)	-	(4,609)	3,979
General fund after
pension asset	24,837	49,266	(46,684)	(5,358)	(4,609)	17,452
Designated funds
ZSL strategic projects	1,095	-	(696)	950	-	1,349
Tangible and intangible
fxed asset fund	47,248	-	-	5,844	-	53,092
Heritage asset fund	1,806	-	-	-	-	1,806
	50,149	-	(696)	6,794	-	56,247
Restricted funds:
Endowment funds
Fantham Bequest	38	-	-	-	3	41
	38	-	-	-	3	41
Other restricted funds
Scientifc	3,144	-	-	-	(22)	3,122
Curatorial projects	92	62	(18)	(15)	-	121
Fundraising development	952	2,734	(1,419)	(1,421)	-	846
Conservation and
science	7,145	13,846	(12,889)	-	-	8,102
	11,333	16,642	(14,326)	(1,436)	(22)	12,191
Total funds	86,357	65,908	(61,706)	-	(4,628)	85,931

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Unrestricted − general fund

The general fund is the free fund of the Society.

Unrestricted − designated funds

Designated funds are set aside for specific charitable purposes and include ZSL’s buildings and facilities on both sites.

These funds are derived from donations, grants, bequests and other resources set aside to be used in accordance with the resolutions passed by the Council of the Society. Both the capital and income may be spent. Until expended, the funds are held in cash or tangible fixed assets. Designated funds are as follows:

ZSL Strategic Projects

This includes:

• A strategic projects fund to support the development and implementation of a new ticketing system, website development and other strategic projects.

• A further designation was made in 2022/23 for seed funding to establish new income streams, investment in visitor experience and implementation of our ticketing system.

Tangible and intangible fixed/heritage assets funds

This represents resources that have been used to acquire tangible and intangible fixed assets and heritage assets not held for sale, and which were professional valued in 2019/20. The value of this fund at the year-end represents the net book value of those tangible and intangible fixed assets. Included are heritage assets not held for sale, and which were professionally valued in 2019/20.

Restricted – endowment funds

These funds are derived from bequests to the Society, are held permanently by the Trustees, and comprise investments, the income from which may be used to support Society activities. These funds are:

Fantham bequest

This fund is held permanently by the Trustees, and comprises investments, the income from which is to be used to endow a Memorial Research Fellowship for research in parasitology or aquatic animal ecology.

Restricted − other funds:

These funds are as follows:

Scientific fund

This restricted fund relates to grants and donations dated from 1991. The fund is to be used for the ‘advancement of zoology and animal physiology’.

Curatorial project

This represents restricted donations received to support animal curatorial and conservation project expenditure.

Fundraising development

This represents restricted donations acquired as a result of fundraising activities. The largest element of this fund relates to sums fundraised for the Amur leopard and tigers’ conservation project which at 30 April 2023 is £212,000. In 21/22 the largest element related to sums fundraised for the Snowdon Aviary restoration project which at 30 April 2022 was £218,000.

Conservation and science

This represents grants and donations received to cover conservation, science and project expenditure.

Fund transfers Transfers made from restricted funds to general funds totalling £1,436,000 (2021/22: £4,001,000) are the result of donations received for specific causes which were released as they were used in the year with the majority related to restricted donations to support the construction of Monkey Valley within the Snowdon Aviary.

Transfers from endowment funds to general funds in the year totalled £nil (2021/22: £2,000).

Net funds transfers of £6,794,000 (2021/22: £4,868,000) have been made to designated funds from general and other restricted funds. These transfers include £5,844,000 to the tangible fixed assets fund to reflect the net movements in these assets to the fixed asset designated fund from restricted and general and £950,000 to ZSL strategic projects for seed funding to establish new income streams, investment in visitor experience and implementation of our ticketing system.

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Movement of funds for the year – Group (prior period)

Movement of funds for the year – Charity (prior period)

						At 30							At 30
	At 1 May				Gains/	April		At 1 May				Gains/	April
	2021	Income	**Expenditure **	Transfers	(losses)	2022		2021	Income	**Expenditure **	Transfers	(losses)	2022
	£000	£000	£000	£000	£000	£000		£000	£000	£000	£000	£000	£000
Unrestricted funds:							Unrestricted funds:
General fund before							General fund before
pension asset	11,576	64,449	(57,901)	(865)	-	17,259	pension asset	11,566	51,194	(44,994)	(865)	-	16,901
Holiday pay accrual	(804)	-	181	-	-	(623)	Holiday pay accrual	(804)	-	181	-	-	(623)
Pension asset	1,214	41	(796)	-	8,100	8,559	Pension asset	1,214	41	(796)	-	8,100	8,559
General fund after							General fund after
pension asset	11,986	64,490	(58,516)	(865)	8,100	25,195	pension asset	11,976	51,235	(45,609)	(865)	8,100	24,837
Designated funds							Designated funds
ZSL strategic projects	205	-	-	890	-	1,095	ZSL Strategic projects	205	-	-	890	-	1,095
Tangible and intangible							Tangible and intangible
fxed asset fund	43,270	-	-	3,978	-	47,248	fxed asset fund	43,270	-	-	3,978	-	47,248
Heritage asset fund	1,806	-	-	-	-	1,806	Heritage asset fund	1,806	-	-	-	-	1,806
	45,281	-	-	4,868	-	50,149		45,281	-	-	4,868	-	50,149
Restricted funds:							Restricted funds:
Endowment funds							Endowment funds
Fantham Bequest	36	1	-	-	1	38	Fantham Bequest	36	1	-	-	1	38
Davis	2	-	-	(2)	-	-	Davis	2	-	-	(2)	-	-
	38	1	-	(2)	1	38		38	1	-	(2)	1	38
Other restricted funds							Other restricted funds
Scientifc	3,081	-	-	-	63	3,144	Scientifc	3,081	-	-	-	63	3,144
Curatorial projects	64	111	(88)	5	-	92	Curatorial projects	64	111	(88)	5	-	92
Fundraising							Fundraising
development	895	4,556	(493)	(4,006)	-	952	development	895	4,556	(493)	(4,006)	-	952
Conservation and							Conservation and
science	8,581	10,352	(11,788)	-	-	7,145	science	8,581	10,352	(11,788)	-	-	7,145
	12,621	15,019	(12,369)	(4,001)	63	11,333		12,621	15,019	(12,369)	(4,001)	63	11,333
Total funds	69,926	79,510	(70,885)	-	8,164	86,715	Total funds	69,916	66,255	(57,978)	-	8,164	86,357

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17. Analysis of group net assets between funds

Group – prior year

Group

Group	Group – prior year
Fund balances at 30 April 2023 are represented by Unrestricted funds Restricted funds - Endowment funds - Other restricted funds	Tangible and intangible assets Heritage assets Investments Investment property Other net assets Total £000 £000 £000 £000 £000 53,092 2,170 - 3,800 14,637 73,699 - - 41 - - 41 - - 3,103 - 9,088 12,191 53,092 2,170 3,144 3,800 23,725 85,931 Fund balances at 30 April 2022 are represented by Unrestricted funds Restricted funds - Endowment funds - Other restricted funds	Tangible and intangible assets Heritage assets Investments Investment property Other net assets Total £000 £000 £000 £000 £000 47,248 2,170 - 3,800 22,126 75,344 - - 38 - 38 - - 3,125 - 8,208 11,333
		47,248 2,170 3,163 3,800 30,334 86,715

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Charity – prior year

Charity

Charity	Charity – prior year
Fund balances at 30 April 2023 are represented by Unrestricted funds Restricted funds - Endowment funds - Other restricted funds	Tangible and intangible assets Heritage assets Investments Investment property Other net assets Total £000 £000 £000 £000 £000 53,092 2,170 - 3,800 14,637 73,699 - - 41 - - 41 - - 3,103 - 9,088 12,191 53,092 2,170 3,144 3,800 23,725 85,931 Fund balances at 30 April 2022 are represented by Unrestricted funds Restricted funds - Endowment funds - Other restricted funds	Tangible and intangible assets Heritage assets Investments Investment property Other net assets Total £000 £000 £000 £000 £000 47,248 2,170 - 3,800 21,768 74,986 - - 38 - - 38 - - 3,125 - 8,208 11,333
		47,248 2,170 3,163 3,800 29,976 86,357

Restoring ecosystems

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18. Pension schemes

The Society has contributed to both defined benefit and defined contribution schemes during the year and defined benefit schemes are accounted for as if they were defined contribution schemes as required by FRS 102 Section 28 ‘Employee benefits’. Employees join the appropriate scheme, depending on their employment terms. The total cost to the Society for the year ended 30 April 2023 in respect of pension contributions, has been allocated between expenditure categories in proportion to staff costs and charged to the Consolidated Statement of Financial Activities as appropriate, as follows:

Defned beneft scheme contributions Defned contributions schemes*	2022/23 2021/22 £000 £000 - - 2,240 1,964
	2,240 1,964

At 30 April there were no outstanding employer’s and employees’ contributions, including any additional voluntary contributions.

*Includes amount in respect of the USS, which is a defined benefit scheme, but as required by FRS 102 Section 28 ‘Employee benefits’, is accounted for as if it were a defined contribution scheme.

After the closure of the ZSL 1988 scheme, which was closed to employees joining after 30 June 2011, a Friends Life stakeholder-defined contribution scheme is available for those employees. Any employees who participate in a defined benefit scheme do so in either the Zoological Society 1988 Pension Scheme (ZS 1988), which is the Society’s own self-administered occupational pension scheme, or the Universities Superannuation Scheme, which is contracted out of the State Second Pension (S2P) or the Friends Life schemes.

The date of the last triennial actuarial valuation for the 1988 Pension Scheme was 30 June 2020. The date of the next triennial actuarial valuation was 30 June 2023.

ZSL 1988 Pension Scheme

Changes in present value of the defned beneft value of obligation Defned beneft obligation at the start of the period Interest cost Actuarial (gain)/loss Benefts paid Experience (gain)/loss on liabilities Beneft obligation at the end of the period Changes in fair value of plan assets Fair value of plan assets at the start of the period Interest income Benefts paid (including expenses) Return on plan assets (excl. net interest on the net defned beneft asset) Contributions by Scheme participants Fair value of plan assets at the end of the period Amounts recognised in the balance sheet Plans that are wholly unfunded and plans that are wholly or partly funded: Present value of wholly or partly funded obligations Fair value of plan assets Surplus for funded plans and net assets/(liabilities) Components of pension cost Pension scheme expenses Net fnance income Pension income recognised in net income Other recognised gains and losses Return on plan assets less income on plan assets Actuarial (gain)/loss Experience losses/(gains) Remeasurements of the net defned beneft pension asset	At 30 April 2023 At 30 April 2022 £000 £000 49,515 60,680 1,564 1,201 (12,968) (11,120) (1,308) (1,246) 1,757 -
	38,560 49,515
	59,780 62,604 1,892 1,242 (1,308) (1,246) (15,820) (3,020) - 200
	44,544 59,780
	At 30 April 2023 At 30 April 2022 £000 £000 38,560 49,515 44,544 59,780
	5,984 10,265
	At 30 April 2023 At 30 April 2022 £000 £000 - - (328) (41)
	(328) (41)
	At 30 April 2023 At 30 April 2022 £000 £000 (15,820) (3,020) 12,968 11,120 (1,757) - (4,609) 8,100

Actual return on plan assets for 2023 is a loss of £13,928,000 (2022: £1,778,000).

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Principal actuarial assumptions

Weighted average assumptions used to determine benefit obligations

Weighted average assumptions used to determine beneft obligations
	At 30 April 2023	At 30 April 2022
	%	%
Discount rate	4.9	3.2
Future salary increase	N/A	N/A
Rate of price infation (Retail Price Index)	3.1	3.4
Rate of price infation (Consumer Price Index)	2.8	3.1
Future pension increases:
Retail Price Index capped at 5%	3.0	3.3
Retail Price Index capped at 5% subject
to a minimum of 3%	3.6	3.7

Plan assets

Fair value of plan assets and percentage of plan assets by asset allocation

Cash and cash equivalents Equity investments Diversifed growth funds Debt investments Fixed income Annuities	At 30 April 2023 2023 At 30 April 2022 2022 £000 % £000 % 122 1 154 1 8,959 20 14,480 24 4,237 10 5,881 9 19,295 42 22,718 38 11,829 26 16,424 27 102 1 123 1
	44,544 100 59,780 100

Assumed life expectancy
on retirement age at 65
	30 April	2023	30 April	2022
	Male	Female	Male	Female
Retiring today (member age 65)	22.5	24.8	22.4	24.7
Retiring in 25 years	24.2	26.6	24.1	26.5
(member age 40 today)

Plan assets

Contributions

There were £2,586 of outstanding contributions payable to the plan at 30 April 2023 (2022: nil). Following discussions with the pension scheme Trustees, a multiyear pension deficit repair plan was agreed and a £200,000 payment was made in May 2021 and is reflected in the financial statements. The next payment was paid in May 2023 as part of our repayment plan.

Universities Superannuation Scheme (USS)

The latest available complete actuarial valuation of the Retirement Income Builder is as at 31 March 2020 (the valuation date), and was carried out using the projected unit method.

Since the institution cannot identify its share of USS Retirement Income Builder (defined benefit) assets and liabilities, the following disclosures reflect those relevant for those assets and liabilities as a whole.

The 2020 valuation was the sixth valuation for the scheme under the schemespecific funding regime introduced by the Pensions Act 2004, which requires schemes to have sufficient and appropriate assets to cover their technical provisions. At the valuation date, the value of the assets of the scheme was £66.5 billion and the value of the scheme’s technical provisions was £80.6 billion indicating a shortfall of £14.1 billion and a funding ratio of 83%.

The key financial assumptions used in the 2020 valuation are described below. More detail is set out in the Statement of Funding Principles ( uss.co.uk/about-us/ valuation-and-funding/statement-of-funding-principles ).

CPI assumption Term dependent rates in line with the difference between the Fixed Interest and Index Linked yield curves less: 1.1% p.a. to 2030, reducing linearly by 0.1% p.a. to a long-term difference of 0.1% p.a. from 2040 Pension increases CPI assumption plus 0.05% (subject to a floor of 0%) Discount rate Fixed interest gilt yield curve plus: (forward rates) Pre-retirement: 2.75% p.a. Post retirement: 1.00% p.a.

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The main demographic assumptions used relate to the mortality assumptions. These assumptions are based on analysis of the scheme’s experience carried out as part of the 2020 actuarial valuation. The mortality assumptions used in these figures are as follows:

2020 valuation

Mortality base table 101% of S2PMA “light” for males and 95% of S3PFA for females

Future CMI 2019 with a smoothing parameter of 7.5, an initial addition improvements to of 0.5% p.a. and a long-term improvement rate of 1.8% pa for mortality males and 1.6% pa for females

The current life expectancies on retirement at age 65 are:

	At 30 April 2023	At 30 April 2022
Males currently aged 65 (years)	23.9	23.9
Females currently aged 65 (years)	25.5	25.5
Males currently aged 45 (years)	25.9	25.9
Females currently aged 45 (years)	27.3	27.3

A new deficit recovery plan was put in place as part of the 2020 valuation, which requires payment of 6.2% of salaries over the period 1 April 2022 until 31 March 2024, at which point the rate will increase to 6.3%. The 2023 deficit recovery liability reflects this plan. The liability figures have been produced using the following assumptions:

	At 30 April 2023	At 30 April 2022
Discount rate	4.9%	4.2%
Pensionable salary growth	5.0%	2.0%

Payable by instalments:

Payable by instalments:
Within one year Between one to two years Between two to fve years After fve years	2023 2022 £000 £000 155 118 158 120 447 350 1,245 1,110
	2,005 1,698

19. Leasing commitments – Group and Charity

Items held under operating lease: Payments due: Within one year Between two to fve years	2023 2022 £000 £000 481 499 1,345 1,826
	1,826 2,325

20. Capital commitments

Outstanding capital commitments at 30 April 2023 amounted to £710,000 (2022: £5,942,000). Most of the outstanding capital commitments relate to the completion of our new reptile and amphibian house at London Zoo which is due to open before the end of the financial year 2024.

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As noted above, it is not possible to split out the assets and liabilities of the USS Scheme, hence ZSL have recognised in these accounts the deficit obligations liability within other creditors and long term creditors and movements in this liability have been shown below:

USS creditor at 1 May 2022 Unwinding of discount factor Defcit contributions payable Additional funding charge Movement in the year USS creditor at 30 April 2023	£000 1,698 71 (136) 372
	307
	2,005

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21 a. Net cash from operating activities

Net income before other gains Defned beneft pension scheme non-cash movement Pension defcit recovery plan repayments Defned contribution USS pension scheme movement Loss/(Gain) on investments Interest and investment income Amortisation of intangible assets Depreciation of tangible fxed assets Impairment of tangible fxed assets Decrease/(Increase) in stock (Increase) in debtors (Decrease)/Increase in creditors Net cash infow from operating activities

Group 2022/23 2021/22 £000 £000 3,825 8,689 (328) (41) - (200) 269 977 19 (64) (573) (115) - 58 3,593 3,646 - 1,006 67 (62) (441) (2,734) (3,056) 4,740

3,375 15,900

21 b. Analysis of change in net funds

Cash Total	At 1 May 2022 Cashfows At 30 April 2023 £000 £000 £000 29,228 (5,489) 23,739
	29,228 (5,489) 23,739

22. Contingent liabilities

The Charity is jointly and severally liable for all Value Added Tax (VAT) debts of the VAT group registration of which it is a part, relating to the year that it has been a member of the VAT group. The total VAT creditor for the VAT group at 30 April 2023 was £365,000 (2022: £105,000).

		2022/23			2021/22
			Support			Support
			costs			costs
	Intercompany		charged to	Intercompany		charged to
	debtor/ (creditor) at 30 April 2021	Gift Aid distribution to ZSL	subsidiary during the year	debtor/ (creditor) at 30 April 2022	Gift Aid distribution to ZSL	subsidiary during the year
Zoo	£000	£000	£000	£000	£000	£000
Enterprises Limited	1,658	3,268	1,625	7,659	2,983	1,915
Zoo Operations Limited	-	-	-	(1,315)	-	-

Relationships with other parties

We have the following relationships with other parties:

• ZSL America Inc (known as ZSL America) is a 501(c)(3) registered non-profit through which US supporters make donations. ZSL shares a director with ZSL America Inc.

• Coast 4C is a charity registered in Australia which continues a former ZSL conservation project and the two organisations continue to work closely together. ZSL shares a director with Coast 4C.

• MRAG Limited is a company registered in the United Kingdom that has supported training related to our conservation work in the Indian Ocean. One of ZSL’s Trustees, Professor Sir John Beddington, has a controlling interest in MRAG Limited. In 20/21, £2,000 of expenditure was recognised. No expenditure was recognised in 21/22 or 22/23.

Notwithstanding these links these entities are not under the direction or control of the trustees of ZSL and therefore are not considered a part of the ZSL group. During the year the following income was recognised as follows:

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23. Related parties and other relationships

There were no related party transactions in the year (2022: none), except for the transactions with subsidiary companies.

Entities over which the entity has control

Balances with subsidiaries bear no interest and there are no guarantees given or received in relation to these transactions. Per SORP and FRS 102 the related party disclosure for the subsidiaries (refer to note 12 regarding their purposes) are:

	2022/23	2021/22
	£000	£000
ZSL America	43	124
Coast 4C	1	23

During 22/23 ZSL paid £20,000 to Coast 4C as part of their asset transfer agreement (21/22: £nil).

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24. Charity Statement of Financial Activities for the period ended 30 April 2023

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A summary Statement of Financial Activities for the charity itself is presented below, with the turnover and expenditure for Zoo Enterprises shown by the amount of Gift Aid payable to the charity by the company.

Income and endowments from Donations and legacies Charitable activities Gift Aid from profts from trading subsidiaries Investment income Other income Total income Expenditure on: Raising funds: Cost of generating voluntary income Charitable activities: Animal collections Science and research Conservation programmes Total expenditure Net (losses)/gains on investments Net income Other recognised (losses)/gains: Remeasurement of defned beneft obligation Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted Restricted incl. Endowment 2022/23 Total 2021/22 Total £000 £000 £000 £000 2,603 3,088 5,691 9,343 42,508 13,480 55,988 53,746 3,268 - 3,268 2,983 501 72 573 115 386 2 388 68
	49,266 16,642 65,908 66,255 1,332 100 1,432 1,694 40,084 838 40,922 38,892 3,795 4,182 7,977 7,128 2,169 9,206 11,375 10,264
	47,380 14,326 61,706 57,978 - (19) (19) 64
	1,886 2,297 4,183 8,341 (4,609) - (4,609) 8,100 1,436 (1,436) - -
	(1,287) 861 (426) 16,441
	74,986 11,371 86,357 69,916
	73,699 12,232 85,931 86,357

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Restricted expenditure includes any financial activity related to endowment funds. Further detail of endowment fund movements can be found in note 16.

25. Charity Statement of Financial Activities for the period ended 30 April 2022

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Our vision and purpose

Income and endowments from Donations and legacies Charitable activities Gift Aid from profts from trading subsidiaries Investment income Other income Total income Expenditure on: Raising funds: Cost of generating voluntary income Charitable activities: Animal collections Science and research Conservation programmes Total expenditure Net gains on investments Net income Other recognised gains/(losses): Remeasurement of defned beneft obligation Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted Restricted incl. Endowment 2021/22 Total 2020/21 Total £000 £000 £000 £000 4,299 5,044 9,343 11,598 43,853 9,893 53,746 37,948 2,983 - 2,983 174 49 66 115 143 51 17 68 2,512
	51,235 15,020 66,255 52,375 1,680 14 1,694 3,746 38,726 166 38,892 31,472 3,376 3,752 7,128 6,299 1,827 8,437 10,264 10,169
	45,609 12,369 57,978 51,686 - 64 64 564
	5,626 2,715 8,341 1,253 8,100 - 8,100 (2,574) 4,003 (4,003) - -
	17,729 (1,288) 16,441 (1,426)
	57,257 12,659 69,916 71,342
	74,986 11,371 86,357 69,916

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Restricted expenditure includes any financial activity related to endowment funds. Further detail of endowment fund movements can be found in note 16.