2025-03-31-accounts

Reglstered number: 00792877 Charlty number.. 300923 SOUTH WEST ENVIRONMENTAL PARKS LIMITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 Bishop Fleming

SOUTH WEST ENVIRONMENTAL PARKS LIMITED CONTENTS Page Referenco and administrative details of the Charity. its Trustee5 and advisers Truste¢s' report Trust•trs' responslbilitie$ statemenl Independent auditors. report on the financial statements 10-13 Statement of financial activltles 14 Balance sheet 15-16 Statement of Cash flows 17 Note5 to the financial ststements 18-40

SOUTH WEST ENVIRONMENTAL PARKS LIMITED REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARtTY. rrs TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2025 Trustets S Barr BA. Chair A C J Cooper Bsc R Preiosi R Hill BAIHonsl ACA I￿signed 11 September 2024) B K McLaughlin IreswJned 17 November 20251 C Coow (resigned 25 September 20251 B Jobson18ppoint&$ 12 February 20241 J O'dvryer lapwinted 15 April 20251 M Sknpp (appointed 11 SeptemiEr 2024) R A Rowe (resigned 27 March 20241 M S salm￿ (resigned 18 Marth 20251 S E Kings (resigned g OGtober 20241 R W J Ford (resigned 2 Apiil 2025) A G Hart I￿$&9ned 17 March 20251 Company registered number tM)792877 Charity rnglstered number 300923 Registered office Totnes Road Paignt(x) Devon TQ4 7EU Company sècretary M Skipp {resigned 24 May 20241 S Kings (ap￿inted 22 May 2024) Chief Executive Officer D FlyTrn {resigned 29 May 20241 Chief Exe¢utive Officer S Kings laprx)inte(11 October 20241 Chief Operatlng Officer C Rugg (resigned 31 Decernber 20251 Chief Financè Officer M Skipp Iresigneij May 2024) Chief Impact Officer S Nash [￿igned March 2025) Indopendenl auditors Bishop Fleming Audit knmit& Chartered Accountants Brook House Winslade Pad( Manor Drive Clyst St Mary Exeter EX5 1GD Bank•rs ￿0￿*S Bank pl¢ Pawjnton Devon Page 1

SOUTH WEST ENVIRONMENTAL PARKS LIMrrED TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2025 Trustee5 Rep￿t The Truslees submit their reF)rt and the audited finanaal stslements f(￿ South Wesl Envirc￿MentsI Parks Limited Ithe'charityl forthe period ended 31 March 2025_ The finanual statements comply with the Charities Act 2011 and Companies AGt 2006, the Memorandum and Arb"cles of A55wiation arNJ have been prepared in accordance with the requiremènts of the Statementof Recommended Pracb'ce on accounting and reporting f￿ charities IFRS 1021 effective 1st January 2019. indudiThJ the add￿Onal thntent required for larger charitsÉ8. Genwal Overview This report is prepared at a time of considerable financial challenge for the Charity. as il continues tts nawgate the combined impa(ts of a diffi¢utt trdding environment. risiThJ costs. and the lasb.ng financial effects of the COVID-19 pandemic. The Charity generates the majority of rt5 income from Vi￿t0[5 to its z￿s. along with assouated secondary spend in retail and catering. A¥ such. Ihe organisation is h￿hty senstkn've to fkjctuations in visitor footrall and wider consumer o)nfiden(. The broader trading en￿rOnMent￿￿ma1￿ed ch8118nging throughwi 2024 and into 2025. The national cost4- living ¢rTSiS had a direca impact on visitor numbefs, while policy thanges ann¢xJnced in the October 2024 Budget, pa￿Cula￿Y incTeases to the National Living Wage and National Insuran￿ from April 2025. added futher pressure to the Charity's o)5t base. As many cwg3nisations in the zoo and wder tourism sector. the Charity also wntinues to feel the leg3cy impacts of the COVID-19 pandem￿. induding sign[fi￿nty dep￿ted reserves and the oThJoing twvclen of a Coronavirus Busine&8 Interruption Loan ICBILSI. Forecasts showed thal iising OwatiC￿al and wciect costs were pL41ing unsustsinable p￿sUre on finan￿. with in(￿me failing to keep pace. In re5w)nse. the Trustees implemented a Finanaal Recovery Plan wth the aim of returning the Trust to a surplus positiorh by O(knber 2025.This induded a drfficult but necessary org8nisational restructure. Between August and December 2024. slaffing levels were reduced by approximately 12%, Tesukn"ng in annualised savings of £1.3 millKsn. Further taryeted cost-sawng measures were introduced in earty 2025. These decisic￿S were made vnth ca￿. and the Trustee5 are grateful to all staff affected thLyr prOfess￿311$M and dedi(3lN)n during a chall6nging period. Aongside the Finanual Recovery Plan, a Strategic Re￿Very Plan was devek)ped and laund)ed in October 2024. This one-year. 1¢Jwint plan aims to strengthen core op8rab"ons, improve resilience. and ensure the long-tem) sustainatmlity ol the Charity. The fcM)Jses on the followng areas." 1. Govemance and Leadership 2. Finan 3. People Serwces 4. Departmental Structures 5. Operations and Infraslructure 6. Members 7. Visitor Experien￿ (Retail, Catering. Fronl of Hous&l 8. Marketing, PR and Fundraising 9. Education and Conservation 10. Business and Local Authority Engagement Page 2

SOUTH WEST ENVIRONMENTAL PARKS LIMITED TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2025 The Trustees have mel morrthty to monitor progress against Ix)th plans. While signtht%nt cost reduction5 have been achieved, targeted minor investmerts have 8tso been male in vi￿10r-fa￿￿9 improvements designed to support in(x)me recovery. In January 2025, the Ch8rity eyperienced a serious Wr-attack that disTUPted key systems. Most data was successfully recovered over the followng months, and Insuran￿ covered approximately 80°k of the associated costs. The Trustees commend the offorts of staff and extemal pathers in rnanaging this inadent under difficult Circumstan￿S_ This report covers a 17-month period from 1 N0Vemt￿ 2023 to 31 March 2025, reflecting 8 change in the Charitys financial yearnd. As a result, the reFK)rting peri(xl indudes two wntertrading seasons, traditionally the most finanaally thallenging tsme for the Charity due to reduced Vist￿ numbers. It is important that the resU￿S presented are undeTStood wthin this extended and seasonalty W￿ghted C￿teXt. Post balance Sheet events On 2 January 2026, the Charity IxnrAet&J a sak of rts assets. lia￿lI￿eS and operati￿$ and those of its subsidiary, South West Zoo Enterprises knmited, to Libéma. a Dutch leisure group. ￿berna operates number of othér zoological pa￿S and attracti￿$ acxoss the Nethedands. The Trustees are delighted to have been able to secure the finanfial Stabl￿ of both zoos. STRATEGIC REpoKr Our Misslon South West Environmental Parks Limited (the "CharWI is an education. scientific and consetvation harity that lakès action lo protect at-risk animals and plantsfrom thé impacts of biodNersty Ios5 through activities designed to help halt speues dedine. Three c￿e beliefs underpin our wcKk" Every species is Speci Everyihing 15 connected Every action matters Public Benefft In setting objectives and planning activrties for the year. the tnjstees have given carefvl consideration to ensuring that the Charity's adivities are to the public benefiL and they have had regard to the Charity Commission's guidance on public benefft. Accordingly. the activities at our sites during the last year were for the public benefit and were in accordance with the objects of the Charity. They a￿.. To advance sryentific know18dge ofplants. animals and the natural W￿d. To advance the educAtion of students and the public on the cxjnservation of the phyEic81 and natural wortd and the promotion of biixliversity. To promote the conservation of the physical and natural environment and the maintenan( of biologi(31 diversity. Our Strategic Framework The Charity supports the overall ot¥'ectives of the Wild Planet Trust group. via funding and the commitrnent of it5 knowledge and resOur￿s. Conservation is at the heart of what ￿ do. 1I4rwork provKles a lrfeline for an ever-growing list of animals and plants that are thre￿ened in the wild and we are committ&J lo syawng our part in the global efftjrt lo help halt species decline. Page 3

SOUTH WEST ENVIRONMENTAL PARKS LIMITED TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2025 We do this by... Prowding Safe havens for endangered species Working Together through community and woiect partherships Taking Action to protect sustainable habitats Conducting Rosearch to adVaTr￿ animal welfare and conservation s¢>ence Telling people why this work is wtsl Safe Havèns Wild Planet Trust owns and manages 5 conseTration sites. 2 of vthith provide a safe haven for exotic animals and plants as well as native species. Our 2 zoo 5ttes allow us to conserve and care for species from arouT)d the wodd, as well as those from doser to home. meaning that our conservation impact is global as well as k)c81. Safe Havens Species Plan These a￿ the species that are eared for d1￿cty by otsr staff. In most case5, this wll ￿ under captive condilons but could also irlclude fre￿liVing Speues in gtuations Wtte￿ we actively monitor their whereabouts or manage part ofa site for that s￿C1￿C speu"es. CONSERVAnoN HIGHLIGHTS Our UK conservation sites Prlmley Park". The fcxmer back garden of Paignton Z(x)'s founder, Primley Park provKles a public access green space for the communities that live alongside. Clennon Gorgt.. The largest of Tcrtsa￿s surviwng lemperate raInf￿eSt fragments, and a wndow into the past of our historic landscape. Slapton Ley.. ￿ned by the Trust since 1922, this Nation81 Nature Reserve and SSSI forms 8 vital part of the South Devon National Landscape. We continue to support the management and monitoring of the reserve alongsKle the Field Studies Council. Populab"ons of key species. such as str8pwort, hazel dormouse and Cetti's warbler. were stable in 2024 amhough itwa5 a p￿yearfQrurf buntings compared to 2023. The Save Our S¢agrass foujssed on ccnmunTty engagementwth fvnding from Devon Environmenl Foundabon. We spoke direcdy to over 1.600 people at 21 events and launched Seagrass Champions stheme for local businesses with 8 fotjnding mernbers. Othw UK cortseNon highlights included heath sCr￿nIng hazel domi1￿ for the national reintroduction programme, vaccinating badgers against tK)vine tuberculosis at Paignton Zoo and rewrding a species of spider at Newquay Z(M) that was onty wentificalty desc￿tsed the first time in 2023. Working Together We work dosely with other accredtted zoos. botani(al gardens. and conservation partners to ensure that our work makes a differen￿ Whe￿ it rnatters most. Page 4

SOUTH WEST ENVIRONMENTAL PARKS UMTfED TRUSTEES. REPORT FOR THE PERIOD ENDED 31 PaARCH 202S Our overseas con5eNation wo•* We are cuffently working in Nigeria. Tanzania. and Jmbabwe as well as he￿ in the South West, with projects that aim to ensure that P8ople an¢J can rxjexist sustsinably together. Our impact targets are aligned to global frameworks for sustainable developmem and b1￿￿1￿rsIty. and we work in partnership with local communib"es, govemments. and other ¢onseTvab"on organisations, lo provide the support that is needed to give wildlrfe a wild fvture. We cctrntinued to support anti-poathing patrols in the Uzungwa Scarp Protectlon Project in Taroania covering over 1,500 km and removing over 1,000 illegal S￿a￿S during the reporbng period. The USPP model of combining government rangers and local communty members in patrol teams was adopted by nearby protected areas in 2024 under the new. separatety funded Udzungwa Landscape Strategy. Ranger5 in Nigeria travelled over 1.000 km ￿ patrol in the Omo Forest Reserve while the education team reached over 250 schocA children eath month. Sadty, several large grant applications to SCAle up the project We￿ unsuc￿Ssful. However, we managed to secure funds to invest in ranger facilitses and ¢J)ver patrc4 c4)5ts into 2026. Our partnership work in ￿rnbabWe entered a new phase the launch of the new human-wildlrfe Coexisten￿ initiative in July 2024. Wod(shop5 We￿ held w7th nearfy 200 0)mfnunity members living near Matobo National Park to idenltfy problem species. discuss current rntyation methods arKI alect conflict monrtor5. RESEARCH HIGHLIGHTS We supported 42 undergraduate and postgraduate researth projects at our zo)s. wth topics ranging from variation in the vcK81isations of (3ptive Sumatran laughing thrush and the diets of red pandas. to assessing diversion and indusion in z005 in adutts with hidden disabilities. One of our pl3￿ment students won the award for Best Saenttfic Presentab"on at the 2024 BIA2A Research conferen￿ for their researth on the behavioLhral and social impacl of breeding rnanagement on Hamadryas baL￿)n$. This is a kjng-temi researth project which not onfy contributes lo decisions on our troop at Paignton Zts) but also cofilributes to management plans for the EAZA Ex situ Programme for th8 speaes. Research staff and 51ud8nts gave 10 talks al a range of c4JnferenrEs including 13 years of Tesearch wth capbve Owslon's civets at Newquay Zw at the UK Vivefrid w(Kkshop, Quality of Life wod(shops in both Italy and Germany and an inmted keynote talk at the South East Asia Zoo Assoaation ISEAZA) Annual conferen￿ in Taipei. Taiwan. on animal welfare prryress in EA2 Animal wèffare progr¢ss The Living Collections team, vthich now indudes research. have been conducting Welfare Assessments for priority specie5 for each anirnal section, and Quality of Life Assessments, with a focus on advanced data collection wth the registrar and keeping teams, which have led to positive changes in soGial dynamics, husbandry routines. diets and enclosure design5, vthich have improved the welfare of many individuals in our zoos. Page 5

SOUTH WEST ENVIRONMENTAL PARKS LIMITED TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2025 EDUCATION HIGHLIGHTS Be￿en November 2023 and Marth 2025. 17.736 leamers wsited Paignton Z(KJ Wth schcM)I groups, and 6.783 visited Newquay Zw. We prowded 405 engagement sessions {V•Drkshops. mini-sessions, virtual lessons, etc.) at Paignton Zoo. and 188 at Newquay Ztx). 12,150 leamers met someone from our team at Paignton Zoo. an¢J 3993 leamers met someone from our team at Newquay Zoo. Our summer clubs. Wild Week, Wild Days. and Wikl Rangers. were attended by 145 children in totsl and netted an income of £19.345. FINANCIAL REVIEW The finanoal resutts presented in this report (x)ver th¢ 17-mnth period ending 31 Marth 2025. This follows a change in the chari￿s financial year-end from 37 October to 31 March. meaning the period inrjudes winter seasons. Winter is hist￿¢81￿ a low trading peritKI for the Charity duè to reduced wsilor numbers, and this seasonal effect is refflected in the retK¥ted financial performance. Revenue is largely driven by visitor f(K)trall to Paignlon z￿ and Newquay Zoo, along with the 3ecc￿dary spend in the retail and catering facilities. Totsl revenue ftsrthe 18-month perf￿ was £10.9 million, comp8red to £8.3 million for the p￿or 12-month pericQ. The increasè in revenue reflects the longer reporting period but is iempered by the challenges of reduced ￿SlI0T IC￿11 infiuence(I by Ihe national cost-of4iwng crisis. Total eX￿￿￿[lure increased to £17_2 Milli￿ from £10.9 million in the prewws year. This rise refl8cts both the ethnded trading period and inflab'onary pressures, increased OFerational expenses, and one-off redundancy costs of £0.2 million inojrred as part of a cost ￿Uction progTarnme during the third quarter of 2024. The restnjcturing is expected to generalè annualised sawngs of approximately £1.0 million. It also reflects exceptional impairment charges to certain property hehj by the thArity. The impairnient tharged recognised in the perioj totaled £2.3m. The Charity rep￿d a consolidat￿ deficri of £1.1 million for the 17-month ￿riod. cx)mp8red to a £5.2 million surplus in the prior 12 months. B351s of preparn￿On- Otherthan as a gdn9 coneem The Trustees have assessed the charrtabte trust's ability to continue as a going concern and have resolved lo cornmence a voluntary liouidation of Ihe Charity within 12 mcmths of the financial year end. This decision follows a thorough remew of the Charity's actiwties, finanoal position, and fijture prospects. The Trustees a￿ satisfied that the trusvs obligations can be met in fvll and that any remaining funds will be applied in accordan￿ with the trust's charitable purFX)ses. The Ttustees have ￿nduded that it is no longer appropriate to prepare the financial statements on a wing concern basis. Aco)rdingly. the finanaal stslements have been prepared on a basis other than that of a going concem.. Any surplus assets remaining after the settlement of liabilities on liquidab.on will k distributed in accordan￿ wth the charitable trust's goveming doujment and applicable tharity law. Funds and Rè$erves It is the general policy of the Charity lo appty toward5 its charIta￿e c+Jjectives as muGh funding as it reasonable can, to avoid accurnulating ex(￿l¥e ¢ash reseNes. Where considered appropriate. bO￿oW1ngS are undertaken to fund elements of signtfjcant Ixprtal w4e(ts. In setting its reserye policy, the Chaiity tskes a(zwnt of its continuing finanoal ￿mmitMentS in temis of staffing and overheads, induding the costs of maintsining the anim81 and plant (x)lthtions and fijnding its charitable activities together wth any c￿tractUal commitments for caprtal projects_ The Charity also consid8rs the risk that its income foi any parbcular year may be impacted by a number of factors outside its control suGh as periods ol prdonged wet weather at peak visitor times, varying levels of economic prosperity and employment, akngsidè the potentk81 for dosure of the zoos to wsitors due to the outbreak of Ix)ntagious disease. Throughout the 2024125 period, the Charity maintained minimum available (3sh reseNes of £1m such reseNe5 being sulticient foF the Charity and its trdding sUb￿dis[leS to yrate vAthout signnlcant Curtailment Page 6

SOUTH WEST ENVIRONMENTAL PAFiKS LIMITED TRUSTEES. REPORT FOR THE PERIOD ENDED 31 MARCH 2025 ol Ils acbvities for 8 of up to weeks. Similarfy. the Trustees consider that unrestricted reserves at the end of any financial year not exceeding 100% of the total reSOurr￿ expended dunng the year couk propedy be regarded as Lx)th reasonable and justified. Borr¢wlngs The Gharity enlered into a Coror7aMnJs Business InternJpti(￿ Loan stheme in 2020. The balance is repayable in installm8nts over five and a haff years. Due the finanual stre&s experienced by the Charity, these lems were extended, by agreement with Lloyds Banl by a period of six trM)nths. At the end of the financial periLxI the outstanding loan balan￿ vrd5 £955k Restrlcted and De51gnated Funds Restricled income funds are derived from dOnatiC￿5, grants and legacae5 re￿IVed and are put towards a variety of ¢xpital projecis and conseNation actiw"ties. Unrestiicted irI￿rne fvnds may be designated or freely available for the CharitYs general charytaNe purFoses. After selting aside restricted Éncome furKls the balanf of the Charity's available funds at the balan￿ sheet are designated as follows.. Assets held for charita￿e use. up to 8 maximum of the net tr￿k value of those fixed assets at the balance sheet date, then If, after éesignab.ng restricted ftjnds as 8tx)ve. therè are ￿ndS remaining. these are treated as unrestricted free reserv￿. At 31 March 2025 the Charity had total fvnds empk)yed of1£1.056,1121 of whth £253.255 were reslrieted and1£1,309.3671 considered to be unrestn"¢thl. GOVERNANCE AND RISK The pnncipal risks ojrrendy identTfied indude: Human or animal epidemics. whith nece5Srt8te the long-temi dosure of the zoos wth resulting lo&s of revenue. Reduction in ￿$[tor numbers to the zoos raused by changes in perception of zoos generdlly. or Paignton and Newquay ZIM)s in particular. The fjmpact of dimate change on MainteTran￿ and additional expendilure for animal welfare. The prtnopal uncertainties are.. The wder economic enwronment and the extènt to whth wsitcf numbers will ￿maIn as robust as was the case in this reporting period. The effect of National Living Wage and National Insurance increases given that Ihey a￿ unknown but are expected to have a signthcant impact on our financs. Page 7

SOUTH WEST ENVIRONMENTAL PARKS LIMtrED TRUSTEES, REPORT FOR THE PERIOD ENDED 31 MARCH 2025 stnKture. Governance and Management South West Enviror7mentsl Parks Lsmrted is a registered charity (number 3009231. govemed by its Charity Commissi(￿ Scherne (LT 306,622 A13 dated 3 septeM￿r 19911. It is a Company limited by shares and registered in England and Wales {registered number (y)792877). A skllls audit of the existing Board is maintained wth a tsrget list of expertise and experience, whith provides th8 criteria for future apwintments. A ￿￿￿ltment procedu￿ is in place to ensure that any nominees have the expertise and experience that ￿11 enhan￿ and benefft the Board and its objectives. In accordance wlh the goveming documerrt, trustees a￿ elected to the Board by 8 majority vote of the existing trustees. Training of bijstees is ￿Mewed against indimdual training ne&Js and a full introduth.on and induction to the Charity is given to new trustees LAFW appointment The Board meets regularly throughout the year lo remew strategy and perfom)ance and a number of subcommittees meet on a regular basis to focus on s￿[fiC a￿as_ Whilst the trustees are responsible for strategy and policy issues, the day-tTrday administration and management of the Charity is delegatsd lo a Chief Executive, who rew)rts reguLqrly lo the Board. The Trustees Iwho are also the direclors of the Company for the purpc6es of (x)mpany lawl are responsible for preparing the TnJstees' Report including the Strategic RetK)rt and the financial stalernents in accordan¢ with appliCa￿e law and UnTted Kingdom A(xounting Standards (United lfjngdom Generally Accepted Accounting Prathc£l. Company law requires the TnJstees lo prepare financial statements for ead) finanaal year. Under company law, the Trustee5 musl rxjl approve the finanual ststements unkn Ihey are sab"sfied that they gwe a trtje and fair wew of the state of affairs ofthe Company and of tts incA)ming resources and ap[￿icatiOn of resources. including its income and expenditure, for th3t penod. In preparing these financ¥al statements, the Trustee5 are required to.. seleci sultable accounb.ng policie5 and thèn applythem Con￿Sten￿Y', observe the methods and prinaple5 ofthe ch8rib.es SORP {FRS 1021: make judgements arKI accounb.ng estimates that ￿ reasonable and pyudent." stale whether applic3ble UK Accounb"ng Stsndards IFRS 1021 have been followe¢J. subject to any material departures disd¢)se¢J and expjained in the )Inanctal staietTf8nts'. prepare the finanual staterrtents on the going u)ncem basis unle&% it is inappropriate to presume that the Cixnpany ￿11 continue in business. The Trustees ￿ responsible for keeF¥ng ayequate accoJntirNJ records th8tare suffioent to shcm and explain the Charity's transactions and disdose wth Teasonable accuracy at any time the finanaal positic￿ of the Charity and enable them to ensure that the financial statement5 oynply wth the Companies Act 2006. They also responsible for safeguarding the assets of the Charty and hencefor taknng reasonable steps for the prevention and dete￿lon of fraud and other irregularilies. proved by order of the member5 of the Board of Tn55tees and sTrgned on its behalf by. SBa (Char of Trustéès) Date.. L IS@en 2(126 Page 8

SOUTH WEST ENVIRONMENTAL PARKS LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE PERIOD ENDED 31 MARCH 2025 The Trusle8s (who are also the directors of the Charity ts the purpKJW of wmpany lawl are responsible for p￿parIng the Trustees, Report and the finanraal statements in accordance with applicable and United lfjngdorn Accounting Stsndards (Unrted lQngdorn Generally A(tepted Ac(x)unting Prdctscel. Company law requires the Tnjstees to prepare financial 5tstements for each financial period. Under company law. the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming reS￿rCeS and appliGation of resources. in¢luding ils income and expendrture, for that In preparing these finanaal 5tstements, the Trustees are required to.. select suitable accounts.ng policies and then appty them consislenty. obseNe the methods and printiples of the charib.es SORP IFRS 1021: make judgements and 8¢o)unting e5b"mates that are reasonable and pmdent state whether applic3ble UK Accountsng Standards IFRS 1021 have been followed. subject to any material departures disclosed and expkgined in the finanrial stslements; prepare the fin8n(#al statements on the going con￿rn bass unless it 15 inappropriate to presume that the Charity wll continue in business. The Trustees are responsible for keeiNng adequate ac¢>)unting records that are sufficient lo show and explain the Charitys transactions and disdose ¥￿th reasonable awracy at any time the financial position of the Charity and enable them lo ensure that the financial stalements comply the Companies AGt 2006. They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other itwularities. Approved by order of the rnem￿rs of the board ofTrustees and sKJned on its behair ty. S Barr (Chair of Trustees) Dale.. aQ26 Page 9

SOUTH WEST ENVIRONMENTAL PARKS LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SOUTH WEST ENVIRONMENTAL PARKS LIMITED

OPINION

We have audited the financial statements of South West Environmental Parks Limited (the 'charity') for the period ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure for the period 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 Companies Act 2006.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.

EMPHASIS OF MATTER - BASIS OTHER THAN GOING CONCERN

We draw attention to note 2.2 in the financial statements, which explains that following the year end, the activities of the charity and its trading subsidiary have been sold to a third party.

As a consequence of this transaction, the charity has ceased to operate and the trustees intend to place it into liquidation. Accordingly, the financial statements have been prepared on a basis other than that of a going concern. Our opinion is not modified in respect of this matter.

OTHER INFORMATION

The other information comprises the information included in the Trustees' Report and Financial Statements, other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Trustees' Report and Financial Statements,. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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.

Page 10

SOUTH WEST ENVIRONMENTAL PARKS LIMtrED INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF SOLrrH WEST ENVIRONMENTAL PARKS LIMITED ICONTINUEDI OPINION ON OTHER MAThERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion. based on the work undertaken in the course of the audit: the information given in the Trustees. Report for the finanoal period for which the financial ststements are rxepared is ￿nsistent wth the financial statements. the TTusts&s' ReFrf)rt has been wepared in ac(xdarKe vAth applicable legal ￿QUIreMents. MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the lighl of our knowledge and understanding of the tharitable company and its environment obtained in the course of the audit. we have not identtfied material misstatements in the Trustees. Report. W8 have nothing to report in respect of the lollowing matters in relati￿ to which Companies Act 2006 requires U5 to report to you if, in our opinion.. adequate accountirrfJ rec(ds have not been or retums adequate for our audit have not been received from branche5 nol visited by us.. or the financi81 statements a￿ not in agreement with the a(xx)unting records and r8tums' certain disdosures o( Trustees. remuneration specified by law are not made; or we have not received all the inf0m￿tion and eXplanati￿S require for our audit. RESPONSIBILMES OF TRUSTEES As explained more fulty in the Trustees. ReswnSibil￿eS Statem￿¢ the Trustees {who are also the directors of the charitable company for the purposes of tx>mpany 18wI are resp)nsI￿e for the preparation of the financial statements and for ￿Ing satisfie(l that they gNe a twe and fair view. and for such inlemal Gontrcd as the Tnjstees determine Is necessary to enats￿ the prepardtion of fin8n(aal statements that are free from material mis51alement, whether due to fraud or err￿. In prèparing the finanaal statements. the Twstees are responyL4è for assessing the charitable company's ability to continue as a going concem, disdosing. as applicable, matters related to going concern and using the going concem basis of accounting un18SS the Trustees either intend to liquidate the charitable company or lo ￿ase operations, or have no realistic att￿at1¥e but to do so. Page 11

SOUTH WEST ENVIRONMENTAL PARKS LIMrrED INDEPENDENT AuD￿oRs. REPORT TO THE MEMBERS OF SOUTH WEST ENVIRONMENTAL PARKS LIMITED ICONTINUEDI AUDITORS. RESPONSIBIL￿lEs FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtsin reasonab￿ assurdnce about whether the finanual statements as a whole a￿ free from Material misstatement, whether due to fraud or error, and to issue an Auditors, Report that indudes our opinion. Reasonable assurance is a high level of assuran￿. but is not a guarantee that an audit conducted in accordance wrth ISAS IUKI ￿11 alwa￿ delecl a material misststement when il exists. Misstatements can arise from fraud or error and are considered material if. indimdually or in the aggregate, they could reasonably be expecied to influence the econtxnlc deasions of Use￿ taken ￿ the basis of these )Inancial statements. Irregularities, induding fraud, are instances of non-complian￿ wlh Laws and regulations_ We design procedures in line wth our responsibilities, ouuined above. to detect m8tsrial misststements in respect of irregulari￿&$, including fraud. The extent to which Pro￿dureS are capable of detecting irregularyb'es, including fraud is detailed below.. we have considered the natu￿ of the sect¢Y. control environment. and finan¢ial perfom18nce', we have considered the results of enquiries wth management and the Trustees in relab'on lo their own idenltfication and assessment of the risks of irregularities within the Charity. we have reviewed the do¢umentstion of key processes and controls. and perfomied walkthroughs of transactions to confimi that the systems are 0￿rating in line wth dwmentation,. we have obtained and rewewed the Chartys docltmentation of their [m￿1CleS and procedures relating lo.. identifw"ng, evalu8th"ng. and c¢Knp￿n9 with laws and regulations and whether they were aware of any instances of nOn-eX)mtAian￿,. detecting and responding to the risks of fraud arKI vAWieT they have kn￿edge of any a¢tu81,suspeGted. or alleged fraud: the intemal controls established trj mitigate risks of fraud or non-compliance wth laws and regul8tions we have considered the matters disojssed among the audit engagement team regarding now and where fraud might occur in the finanoal statements aTh1 any potential indicators of fraud. As a result of these procedures, we have conwdered Ihe opwjrtuniti.es and in￿ntiveS that may e￿st within the Charity for fraud and identified the highest area of risk to be in relation to intx)me recognition. In common with all avdits under ISAS IUKI, we are also require(I lo perform speafic procedures to respond to the risk of management override of controls through the use of manual joumals. We have also obtsined an understsnding of the legal aNI regulatory framewor*s that the Charyty operates in, focustng on provisons of those laws and regulations that had a direct effect on the detem)inalion of material amounts and disclosures in the financial statements. The key law5 and regulats.ons we considered in this contexl incJuded the Charitses Act 2011. Charities SORP 2019. Companies Act 2006 and FRS 102. In addition, we (Kjnsidered provisions of othBr laws and regulations that do not have a direct effect on the financial siatements but compliance wth which may be fundamentsl to the Chariws abilty lo operate or avoid a material penalty. These induded the ZLX) Licensing ACL data proteclion legislation. health and safety regulakn'ons, and employment legislation. Our prO￿UTeS to respond to risk% Kjentrfied induded the following" reviewing the financial ststement discbsures and lesling to supporting documentation to assess compliance w(th provisions of relevant laws and regLtlatil￿S described as hawng a direct effect on the financial ststements., enquiring of management in relalion to aclual and M)tenlial dairns or litigab"on.' performing analytical procedures to identsfy unusual or unexpected ￿lationShIpS that may indicate risks of material misstatement due to fraud.. reviewing Board meeting minutes. in addressing the risk of fraud through management override of controls, testing the appropriateness of joum81 entries and other adjustrnents., assessing whether the judgements made in 8co)unting estimates are indicative of potenb.al bias., and evaluab'ng the business rationa￿ of signfficant transa¢b"ons that are unusual or outside the nomial course of bijyness. We also wmmunicaled identified laws and regulations and potential fraud lo all members of the engagement Page 12

SOUTH WEST ENVIRONMENTAL PARKS LIMITED INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SOUTH WEST ENVIRONMENTAL PARKS LIMITED ICONTINUEDI team and remained alert to possible indirat(Ks of fraud or non-cixnpliance with laws and regulations throughout the audit. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, induding those leading lo a material misstatement in the finan(xal statements or non-c4)mpliance with regu18tion. Thi5 risk inGreases the more that compliance ￿th a L4w or regulation is removed from the events and transactions reflected in the finanaal statements, as we wll be less likely to bewme awa￿ of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment. forgery, ttAlusion. omi&sion or misrepresertstion. A further description of our resKKJnsitiI￿eS for the audit of the finan(ial staternents is located on the Financi81 Reporting Counol's webstte at www.frc. .uklauditor5res sibil￿eS. This description fomis part of our Auditors, Report. USE OF OUR REPORT This report Ss made solety to the charilable companrfs member5, as a body, in acxordan¢e with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale lo the charitab company's members those matters we are require(I to state to them in an AuditOTS' Report and for no other purpose. To the ftjllest extent pemiitted by law. we do not accept ￿ assume responsibilty to anyone other than the charitable company and its member5, as a tr*)dy, for our audit Work. for this report, or for the opinions we have lormed. Mark Munro BA FCA (Senior sLitutory auditor) for and on behalf of Bishop Flerning Audit Limited Chartered Accountants Statutory Auditors Brook House Winslade Park Manor Drive Clyst Sl Mary Ex8ter EX51GD Date.. 2910112026 Page13

SOUTH WEST ENVIRONMENTAL PARKS LIMrrED STATEMENT OF FINANCIAL AcTIV￿lEs (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 MARCH 2025 Unrestricted Restrlcted Total funds funds funds Period ended Perfod ended Perlod end¢d 31 March 31 March 31 Mar¢h 2025 2025 2025 Totsl fund5 Year ended 31 October 2023 INCOME FROM.. Donations and legacies Charitable adivib.es Other trading ath"w￿eS Inveslrnents Other incLJme 1,201.419 8.848.373 17.694 727.568 47.509 46.041 1.247,460 8,848.373 17,694 727,568 57.209 215,116 7.392,637 111,025 524.341 16,687 9,700 TOTAL INCOME 10.842.563 55,741 10,898,304 8,259,806 EXPENDITURE ON: Raising ftjnds Charitable actiwties 6,232 17.321.841 6.232 19.191.123 1,869.282 10,896,359 TOTAL EXPENDITURE 17.328.073 1,869,282 19.197.355 10.896.409 NET MOVEMENT IN FUNDS 16,485,510) (1.813.541) 18,299,051) 12,636,603) RECONCILIATION OF FUNDS: Total funds brought foN8rd Net movement in funds 3,093,609 2.142.260 5,235.869 16.485.510) (1.813,$411 18.299,0511 7.872.472 12.636,6031 TOTAL FUNDS CARRIED FORWARD 21 13.391.901) 328.719 13.063.182) 5,235.869 The Statement of Financral Activib"es indudes all gains and losses recognised in the period. The notes on pages 18 10 40 fomi part of these financial statements. PwJ8 14

SOUTr1 WEST ENVIRONMENTAL PARKS LIMITED REGISTERED NUMBER:00792871 BALANCE SHEET AS AT 31 MARCH 2025 31 March 2025 31 October 2023 FIXED ASSETS Intangible assets Tangible assets Investmen15 14 2,819 977.181 43,584 4,981,555 15 16 980,002 5.025,141 CURRENT ASSETS Stocks Debtors Cash al bank and in hand 17 89.315 541,386 150,728 82.561 888,407 2,162,813 18 26 781,429 3,133.781 Current liabilitios Creditors.. amounts falling due vrilhin one 19 14,824.6131 {1,923.0541 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES {4.043,1841 1,210,727 13.063,1821 6.235,868 Creditors.. amounts falfjng due after more than one year 20 1999,9991 TOTAL NET ASSErs {3.063,1821 5,235,869 Page 15

SOUTH WEST ENVIRONMENTAL PARKS LIMrrED REGISTEREO NUMBER:00792877 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 31 March 2025 31 October 2023 Nol• CAPITAL, RESERVES AND FUNDS Restricted funds Unrestricted fund5.' 21 328,719 2,142.260 General funds Called up share capital Share premium account 21 13,42S.5391 10.000 23.638 3.059.971 10,000 23,638 21 21 Totsl unrestricted funds 21 13.391,901) 3.093,609 TOTAL FUNDS {3.063,1821 5,235,869 The Twslees acknoYAedge their W[M￿s[billI1es for ¢(xnplying the requirements of the Act with respect to accounb'ng records and preparation of financial statements. The finanual statements were approved and authorised for issue bythe Twslees and sgned C￿ Iherr behalf by.. S Barr (Chair of Trustees} Dale.. 26 aa/LLo6tI 2Q6 . The notes on pages 18 to 40 form part of these finanaal statements. Page 16

SOUTH WEST ENVIRONMENTAL PARKS LIMITED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2025 Period ended Year ended 31 March 31 October 2025 2023 Note CASH FLOWS FROM OPERATING ACTMTIES Net cash u58d in c￿rating acliwttes 25 {1,133.775) 11,693,077) CASH FLOWS FROM INVESTING ACTMTIES DNidends. interest and rents from iftvestments Proceeds from the sale of langible fixed assets Purchase of intangible assets Purchase of tsngible fixed assets 727.568 524.341 8,534 15,7541 {1.105.8791 {1,140.3441 NET CASH (USED INI INVEsnNG ACTMTIES {378,3111 {613,223} CASH FLOWS FROM FINANCING ACTMTIES Interest paid Repayments of borrowing 76,693 (545,455) 1499.9991 NET CASH {USED INYPROVIDED BY FINANCING ACTMTIES (499.9991 {468,762) CHANGE IN CASH ANO CASH EQUNALENTS IN THE YEAR Cash and cash equivalents at the beginning of the perirN (2,012,085) 12,7T5.0621 2.162,813 4.937,875 CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 26 150,728 2,162,813 The noles on pages 18 to 40 form part of thv6e finana81 ststements Page 17

SOUTH WEST ENVIRONMENTAL PARKS UMtrED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 GENERAL INFORMATION The Charity (registered numkr 3009231 is a charttable Company, limited by shares and registered in England and Wales Iregislered number 007928771. The registered office ad¢Jress is Totne5 Road, Paignton, Devon. TQ4 7EU. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepared in a(X0rdan￿ wth the Charities SORP IFRS 1021- Accounting and Reporting by Ch3rib"es.' Stslement of Recommended Practice applicable to charities preparing their accounts in accordance th the Financial Rep)rb"ng Standard applicab￿ in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the C(Knpanies Ad 2006. s￿th West Environmental Parks knmried meets the definition of a publi¢ benefit entity under FRS 102. Assets and liabilrties are initially recLxJnised at historical cost or trdnsaction value unless otherwise staled in the relevant a￿Unting pjlicy. Under the Companies Act 2(M)6 the Company is exempt frorn producing consolidated accounts as it h85 been included in UK group accounts of a larger group Is.4001. The parent errtrty in consdTrdated ststements are t¢ing produced is Wild Planet Tnjst. These statements are availatAe the Gharrty Commission. 2.2 GOING CONCERN On 2 January 2026, the aCt￿[b"e5. assets and liatxlities of the Charity and those of its trading subsidiary were sold lo a third party. From the date of sale, the Charity has ceased to operate and the Trustees intend to place it into liquidation ￿fOre 31 March 2026. Accordingly, these finan￿al statements have been kyepared on a basis other that of a going concem. However, gwen the operations ol Paignton 8nd Newquay zoos wll be carrted on by the new owner, no adjustments lo, or re-dassFfi(zb"ons of, the amounts included in these financial statements pn'or to the transfer have been required. Page 18

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ACCOUNTING POLICIES Icontinuedl 2.3 INCOME l income is recognised once th8 Charity has enlitlernent to the income, It is probable that the income will be r￿e1Ved and the amoijnt of income recetvable can be measured reliably. The recognition of income from legaues is dependent on establishing entthement, the probability of receipt and the ability lo estimale ￿¢h sufficient accurary the amount receivable. Evidence of entitlement to a legacy exists vthen the Charity has sufficient e￿idence that a gift has been left to them Ilhrough knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the propety in question will not be required to satisfy claims in the estsle. Receipt of a legacy must be recognise(I when it is probable that il will be received and the fair value of the amount receivable. whith wll generalty be the expected rash amount to be distributed to the Charrty, can be reliabty measured. Grants are included in the Statement of Finanryal Activities on a receivable basis. The balance of income received for specffic purposes iKrt not expended during the period is shown in the relevant fijnds on the Balance Sheet. Where In￿Me is receNed in advance of entitlement of receipt, ils recognition is defer￿ and induded in (xeditOTS as deferred income. Where entittement ￿CUrS bef￿ in(xJme is received. the income is actxued. Income tax recoverable in relab(m to invesknent inctxme is recognised at the time the investment income i5 re￿1Vable. Other inoxne is recognised in the peric#J in %thith rt is receivable and to the extent the goods have been provi¢Jed or on ¢{￿pIe110￿ of Ihe servi(t. Page 19

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ACCOUNTING POLICIES Icontlnued) 2.4 EXpEND￿uRE ExKEnditure is rewgnised once there is a legal or o)nstnJctive obligation lo transfer e￿noMiC benefit to a third paty, tt is probabFe that a transfer (rf economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is Glassified by actmty. The costs of each activtty are made up of Ihe lotal of direct costs and shared costs. induding support Costs involved in undertaking each acti￿ty. Direct ¢X)5ts attributable to a single activity are allocated directly to that activity. Shared costs whi( contribute lo MO￿ than one acb.vrty and support costs which are not attributable to a single activrty are apwb.oned between those ath"wties on a basis consistent with the use of resources. Central staff costs are allo(xted on the basis of tim8 spent, and depreciab'on charges allocated on the portion of the asset's use. Expenditure on Trising fvnds indudes all expendÉture incurred by the Charity to raise funds for its charitsble purposes and indudes costs of all lundraising activtties events and non-charitable trading. Expenditure on charitable a(￿Y￿eS is in¢xJrred on direclty undertaking the acb"Mties which further the Charltys objectives, as well as any associated support costs. All expenditure is indusive of I￿eCOVerable VAT. 2.5 GOVERNMENT GRANTS GovemrT)ent revenue grants are uedited to the Statement of Finantial Activities as the related expenditure is incurred. 2.6 INTEREST RECEIVABLE Interest on funds held on deposit is induded when receiwable and the amount can be measured reliably by the Charity, this is nomialty upon notsfication of the intewsl paid or paydble by the insttiub.on with whom the fvrKfs are deKX)5ited. 2.7 INTANGIBLE ASSETS AND AMORTISATION Intsngible assets are initialty recognised at UJSL After re(wnib"on. under the cost model, intangible assets are measured at Cost any accumulated amotti58tion and any accJJmulated impaimient Ios8e5. Amortisation is promded on inlangible assets at rates calcAJlated lo writè off the cost of each asset on a straight-line basis over its expected usefvl life. The e5ts"mated useful lives are as follows.. Intangible assets in development Computer software No arr¥)rtisation tharged S years 2.8 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangibltr fixed assets are initially recognised at cost_ After recognits"on, under the cost m(￿e1, tangible fixed assets are measured at COSI less aGcumulated depreciation and any a￿uMulated impaimient 105ses. Ml costs incurred lo bring a tangible fixed asset into its intended wo*ing condition should be included in the measurement of ¢￿St. At each retx)rting date the Charity assesses vthether there is any indication of impaimient. If such indicat￿n exists. the recoverable amount of the asset is deterniined to be the higher of its fair value less costs to sell and its value in use. An irnpairment k)ss is recognised where the carTring amount exceeds the recoverable amount. Page 20

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ACCOUNTING POLICIES Icontlnued) 2A TANGIBLE FIXED ASSEfs AND DEPRECIATION ICONTINUEDI Depre(iation is charged so a5 to allLKate the cost of tangible r￿ed assets les5 their residual value over their estimated useful lives. using the straight-line method. Depre￿at1￿ is provided on the fdlowing bases.. - 10to50years Leasehold propety and improvements Motor vehides - 5 years Fixtures, fittings 8nd equipment - 5 10 10 yeaT5 Assets under constnjthon - No depreciab.on charged Gains and losses on disrM)saL8 a￿ determined by comparing Ihe proceeds wth the carrying amount and are rec￿jniSed in the Slaternent ol Finaniial Adiwbes. 2.9 INVESTMENTS Fixed asset investments a￿ a fomi of finanod instrumenl and are In￿.311Y recognised al their transaction cost and subsequenuy measured at fair value at the Balance Sheet date, unless the value cannot be measured Teliabty in whith (xse rt is measured at cost less impairment. Investment gains and losses, whether realised OT unrealised. are combined and wesented as 'GainsllLossesl on investments, in the Statemenl of Finanrial Acb"vibes. Investments in subsidiaries are valued at cost less provT5ion for impaimient. 2.10 STOCKS Stocks are valued at the lower of (x)st and rt rea￿Sable value after m8knng due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate PTOPOrtion of fixed and variable ovetheads. 2.11 DEBTORS Trade and other debtors are recognised at the setuement amount after any trade discount offered. Prepawnents are valued at th8 amount prepaid net of any trade discounts due. 2.12 CASH AT BANK AND IN HAND Cash at bank and in hand indudes cash and short-temi highly liquid investments with a short matUTity of three months or less from the date of aqUi￿tIon or opening of the detK)sit or similar acGounl. 2.13 LIABILITIES AND PROVISIONS Liabilrf£ies are recognised when there is an rt>ligation at the Balan￿ Sheet dale as a result of a past event. it is probable that a transfer of economic benefit wll be required in setuernent. and the amount of the settlement be eslimated reliably. Liabil￿e$ are recryJnised at the amount that the Charity anticipates il VAII pay to settle the debt or the amount it has Te(ived as advanced payments for the goods or services it must prowde. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts. discounted at the pre-tax discount rale that reflects the risks specific to the liability. The unwnding of the discount is reccgnised in the Statement of Finan(xal Activits"es as a finan￿ cost. Page 21

SOUTH WEST ENVIRONMENTAL PARKS LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ACCOUNTING POLICIES {¢ontinu8d) 2.14 FINANCIAL INSTRUMENTS The Charity only has finanaal assets and finanual liabiliti8s of a kind that qualify as basic financial instruments. Basic finanaal instruments are initially recognised at transacb.on value and subsequently measU￿d at their settlement value wth the ex￿ptIOn of bank loans whith are subsequently measured at amortised cost LJ5ing the effective interest method. 2.15 OPERATING LEASES Rentals paid under operab.ng leases are tharged to the Statement of Financial Activities on a straighl-line basis over the lease term. 2.16 PENSIONS The Charity operates a defined ￿ntribUtIon pen￿on scheme and the pension charge represents the amounts payable by the Charity to the fiJnd in res[￿￿ of the ￿ar. The assets of the scheme are held separatety from those of Ihe group and are independently administered. 2.17FUND ACCOUNTING General funds are Un￿1￿cted funds are available for use at the discretion of the Tnjstees in furtherance of the general obje¢trves of the Charity and whith have not been designated for other purposes. Rèstn"cted funds are funds vthid) are to be used in accordan￿ svith specific ￿sInc￿"0nS imKK)sed by donors or whith have been raised by the Charity for pa￿t￿lIar Pury￿}Se5. The costs of raising and adTninistering such funds are charged against the specific fund. The aim and use of each ieslricted fun¢J is sel out in the Th)te5 to the financial slatements. Investment Inc￿ne. gains and losse5 are alkxated to the appropriale ftjnd. CR￿ICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEIIENT Estimat85 and judgements are c(￿tinUallY evaluated ar7d are based on historical experience and other factors. including expectations of fijture events that are b81iev&J to be reasonable under the ¢iroJmstsnces. Critscal acc4)unling ests"rnates 8nd assurnpli'ons: The Ch8rity make5 estimates and assumptions conceming the future. The resulting accounting estimates and assumptions will, by definitioft. seldom equal the related actual results. The estimates and assumpts'ons that have a significant rr5k of caugng a material adjustment to the carryng amounts of assets and liabilities ￿1th1n the next financial yEar are dis(xJ5sed bel(Trw_ Critical areas of judgement.. The usefvl lrfe of the fixed assets is a key judgement and has been made based on management's knowledge of the assets held. The carrying valLJe of propety and any imp8irment recxhJnised is a key judgement and has been made based on managemenfs krrowledge of the assels held, extemal v3luations undertaken and posl-year end disposals. Page 22

SOUTH WEST ENVIRONMENTAL PARKS UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 INCOME FROM DONATIONS AND LEGACIES Unrestricted Restricted funds funds PÈriod Period ended ended 31 March 31 March 2025 2025 Total funds Perlod endèd 31 March 2025 Donations from Wild Planet Trust Donations 566,689 43,648 591,082 566.689 43,648 637,123 Legacies 46.041 1,201.419 46.041 1.247.460 un￿strICted Restricted Total fvnds funds funds Year er￿e￿ Year ended Year ended 31 October 31 October 31 October 2023 2023 2023 Donations Govemmenl grants 160.657 160.657 54,459 54.459 160.657 54,459 215,116 INCOME FROM CHARITABLE ACTivrriES UnrestTlctgd fvnds Period ended 31 March 2025 Total funds Totsl Period funds ended Year ended 31 March 31 October 2025 2023 Operation of Paignton Zoo Operation of Newquay Zoo Education Fiekl conservation and resear Charges to South Wesl Zo) Enterprises knmited 6.086,392 1.847,675 267,579 105.277 541.450 6.086,392 1,847,675 267,579 105.277 541.450 5.146,884 1.690,134 125,960 47,459 382,200 8.848,373 8,848.373 7.392,637 Page 23

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 INCOME FROM OTHER TRADING ACTIv￿lEs Incom• from fundraising events Unrestrlcted funds Period endèd 31 March 2025 Total Jnds TDtsI Period funds endèd Year ended 31 March 31 October 2025 2023 Fundraising Events 2,258 15.436 2.258 15,436 86,714 24,311 17,694 17,694 111,025 INVESTMENT INCOME Unrestricted funds Period ended 31 March 2025 Total funds Total Period funds endèd Year ended 31 March 31 OctDber 2025 2023 Distribution from Swth West Z(M) Enterprises Limited Interest receivab 716.775 10,793 716,775 10.793 481.108 43.233 727.568 727.568 524,341 Page 24

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 EXPENDITURE ON RAISING FUNDS FUNDRAISING TRADING EXPENSES Unrestricted funds Period ended 31 March 2025 Total funds Total Perlod funds ended Year ended 31 March 31 October 2025 2023 Fundraising 6.232 6.232 50 Page 25

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ANALYSIS OF EXPENDITURE ON CHARtrABLE ACTMTIES Summary byfund type Unrestrict•d Restrlcted funds funds Period Period ended ended 31 March 31 March 2025 2025 Total Period ended 31 March 2025 Operation of the Parks Education Conservation 16.688,805 385,802 247.234 1,869,282 18,558,087 385.802 247,234 17.321,841 1,869.282 19,191,123 Unrestricted Restricted funds ftjnds Total Year ended Year ended Year ended 31 October 31 October 31 0¢lober 2023 2023 2023 Operation of the Parks Education Conservation 10.228,183 317.628 300.326 50.222 10,278,405 317,628 300,326 10,846,137 so.222 10,896,359 10. ANALYSIS OF EXPENDrfuRE BY AC￿VITIEs undertakon directly Period endèd 31 March 2025 Support Costs Period onded 31 March 2025 Total funds Period ended 31 March 2025 Operation of the Park5 Education 6.693.036 11,865.051 18.558.087 385,802 385,802 247.234 247,234 Conservation 7,326,072 11,865,051 19,191,123 Page 26

SOUTH WEST ENVIRONMENTAL PARKS LIMtTED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 10. ANALYSIS OF EXPENDITURE BY ACTIVfflES (CONTINUED) Acb"wties undertaken Support Tota irèctty costs funds Year ended Year ended Year ended 31 October 31 October 31 Oclob8r 2023 2023 2023 Operation of the Parks Education Conservation 4,956,189 317.628 3r￿.326 5.322,216 10,278,405 317.628 300.326 5,574,143 5,322,216 10,896,359 ANALYSIS OF SUPPORT COSTS Total fund5 Totsl Period funds •nded Year ended 31 March 31 October 2025 2023 Stsff costs Impairment charge Establishment costs Administration ￿$ts Financial costs 2,866,556 4,353,219 1,638,020 1,006.005 666,471 493,923 758,916 22,487 13,890 45,564 2,045,316 1.040,485 597.642 569,891 448,675 468.276 18.234 11,650 122.047 Marf(eting Depreciation Amortisation Govemanc8 - auditors, fees maintenan￿ of Living Coasts STte 11,865,OS1 5,322,216 11. AUDITORS. REMUNERATION The auditor5, remuneration amwnts to an auditor fee of £11.300 f2023 - £8.150). and norFaudit 58rvices of £2.515 {2023 - £1.7501. Page 27

SOUTH WEST ENVIRONMENTAL PARKS LIMrtED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 12. STAFF COSTS Period ended Year ended 31 March 31 October 2025 2023 Wages and salaries Socaal security costs Contribution to defined c(M)tribution pension sthernes 6.557,314 632,404 478.906 5,089,707 438,054 348,777 7,668.624 5,876,538 Included wthin wages and salaries are staff restrucluring costs for the Charity arnounting lo £196,779 {2023'. £166,812). The average number of ￿r$OnS emplo￿ by the Charity during th8 peric*J was as fotlows.. Period ended Year ended 31 March 31 October 202S 2023 No. No. Employees 201 227 The number of emplO￿S %th05e emplojee benefits (exdudlng employer pension costs) exceeded £60,QOO was- Period ènded Year ended 31 March 31 October 2025 2023 No. No. In the band £60,001 - £70,000 In the band £70,001- £80.000 In the band £100.001- £110,000 Al Trustees and the senior leadership team a￿ considered to be key management pers￿ne1. The totsl amount of employee benefi15 lincludino employer pension contrilxjtions and èmployer Nakn'onal Insurance contributions) received by key management personnel was £323,099 for 5 personnel12023.' £256,228 for 5 personnel). The group of which South West Environmental Parks Limited is a part of is managed on a unified basis. The key management KErsonnel of the Charity are remunerated by Wild Planet Trust in respect of their services to the gr￿p as a whole. 13. TRUSTEES, REMUNERATION AND EXPENSES During the perTod, no Trustees ￿Ceived any remunerdtion or other benefits (2023 - £NILI. During the peri¢yJ ended 31 March 2025, expenses totsling £Nil were reimbursed or paid dI￿dY to no Trustees12023- £131 to 2 Trustees}. Page 28

SOUTH WEST ENVIRONMENTAL PARKS UMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 14. INTANGIBLE ASSETS Intangible assets in d•v8lopment Computer software Total COST At 1 November 2023 DispK)5als 5.754 15.754) 151.697 157.451 15,7541 Al 31 M8r¢h 2025 151,697 151,697 AMORTISATION At 1 November 2023 Charge for the year Impaimient charge 113,867 22,487 12.524 113.867 22.487 12.524 At 31 March 2025 148.878 148,878 NET BOOK VALUE At 31 March 2025 2,819 2.819 At 31 Ocl(thr 2023 5,754 37,830 43,$84 P8ge 29

SOUTH WEST ENVIRONMENTAL PARKS UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 15. TANGIBLE FIXED ASSETS Long-terni leasehold prowty Motor Fixture5 and Assets under vehlcles r￿IngS Constructlon Totsl COST Al 1 November 2023 Additions Disposals 17.288.379 650,000 434.190 4,215.683 430.418 18,209 25,461 {10,6421 21,956.461 1.105,879 110.6421 At 31 Mar¢h 2025 17.938.379 434.190 4.646.101 33,028 23,051,698 DEPRECIATION At 1 November 2023 Charge for the period Impaimient charge 14.182,256 216,364 2.889.314 333.595 42,214 47.653 2,459.055 $00,338 1,376.769 16.974,906 758,916 4,340.695 2&959 At 31 March 2025 17,287,934 423.462 4.336.162 26.959 22,074,517 NET BOOK VALUE At 31 hrtarch 2025 650.445 10.728 309,939 6.069 977.181 At 31 October 2023 3.106.123 100,595 1,756,628 18,209 4,981,555 The Charitys leasehold buildings are held unthr ￿SeS granled by Wild Planet Trust, Torbay Council and Restormel 8orwgh Counal. The net book value of leasehold buildings as at 31 March 2025 cowprises £392,604 12023.. £1,911.1981 in respect of Paignton Zoo, £Nil 12023.. £Nill in respect of Liwng Coasts which was fully impaired in 2020 and £257,840 12023.- £1,194,925) in respect of Newquay Zoo. An impairment charge of £2.889.314 has been prc￿$Sed inv the period. Page 30

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 16. FIXED ASSET INVESTMENTS Investmènts In sub5idlary companles COST OR VALUATION At 1 November 2023 AT 31 MARCH 2025 NET 800K VALUE AT 31 MARCH 2025 AT 31 OCTOBER 2023 PRINCIPAL SUBSIDIARIES The following was a subsidiary undertakiry of the Charity.. Nam• Company number Class of shares Holding Includèd in consolidation South West Zoo Enterprises Limibj 02494361 Ordinary 100% Yes The financial results of the subsidiaryfor the peri￿ were: Name Income Expendlture ProfitllLossl I Surplusl (Deficit) for the period Net Ilabilities South West Zoo Enterprise5 Limited 3,811211 (3.841.611) {29,400) 125,274) 17. STOCKS 31 Mareh 31 O¢Éober 2025 2023 Consumables 89,315 82,561 Pwje 31

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 18. DEBTORS 31 Mar¢h 31 October 2025 2023 DUE ￿THIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income Tax recoverable 88,865 186,831 234,025 31.665 16.899 52.480 730,088 88.940 541,386 888,407 19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31 March 31 October 2025 2023 Bank loans Trade cretltto Amounts owed lo group undertakings Other taxati￿ and sotial security Other creditors Accruals and deferred income 954,$44 454,821 2.904,456 97.113 67,957 345,722 622,148 523,003 236,713 90,759 450.431 4.824,613 1,923,054 31 March 31 October 2025 2023 Deferred income Deferred income at 1 Novemtr 2023 Resou[￿$ defeffed durlng the period Amounts released fr(n pyevious pericmjs 349.101 245.065 1349.1011 336,270 349,101 {336,2701 Deferred income * 31 March 2025 245.085 349.101 Deferred income ￿lateS to annual pa&$ admission income relats.ng to fvt￿￿ periods. Page 32

SOUTH WEST ENVIRONMENTAL PARKS LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 20. CREDITORS: AMOUNTS FALUNG DUE AFTER MORE THAN ONE Y&4R 31 March 31 October 2025 2023 Bank loans 999,999 In 2020. the Company entered into a108n agreement through the Coronavirus Business Interruption Loan scheme. Interest is charged at 1.94% at￿e the base rate. The balance is repayable in month instsllm8nts over fiv& and hair years. The loan is secure(J wth an unlimited debenture from South West Environmentsl Parks ￿mIted, South West Z(￿) Enterprises Limtted. Lmng Coasts and Wild Planet Trust- a first legal charge from Wild Planet Trust over the freehold land and buildings at Totnes Road. PaNJnton, Devon, TQ4 7EU," an omnibus guarantee and set off agreement among the Bank. South West Enwronmental Parks Limited, Wild Planet Trust and Living Co8Sts.' and 8n all monies guarantee fr(xn South West Zoo Enterprises Limited. PwJe 33

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 21. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT PERIOD Balan¢e at 1 Novèmber 2023 Balance at 31 March 2025 Income Expendlture UNRESTRICTED FUNDS General Funds 3.093.609 10.842,563 117.328.0731 13,391,901) RESTRICTED FUNDS ERDF Redevelopment Fund Crocodile Swamp Fund Forest Schools Fund ca￿ and ConseNation of Large Cats NQY Penguins Sumatran figers Other Restricted Funds 703,628 650.000 324 9,71)0 16S7.1351 1530,5601 13241 1613,26n 167.9961 56,193 119,440 731,849 118,582 22,504 10,000 2.000 46.041 10,000 2.000 2,142.260 55.741 11.869.282) 32B.719 TOTAL OF FUNDS 5.235.869 10,898.304 119.197,355) (3,063,182) R8strlthd funds ERDF Redevelopment Fund and Crocodile Swamp Fund - This represents funding received for redevelopment of siles and exhibits at Paignton Z(MJ. Care and Conservation of Large Cals - This repr&8ents legacy income to a5SiSt in the care conseryation of large rats. NQY Penguins- This represents legacy income restricted for the conservation of penguins. Sumatran fNJets - This represents legacy income that has been restri(aed for the (yJnseTvation of ligers, specifically on the Sumatran figer spe(ie5. Other restn.cted amounts represent funds rer*ived for a specffic purw5e and Can onty be used under particular conditions. Page 34

SOUTH WEST ENVIRONMENTAL PARKS UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 21. STATEMENT OF FUNDS ICONTINVEDI STATEMENT OF FUNDS - PRIOR PERIOD Balan￿ at 1 November 2022 Balance at 31 October 2023 Inc4Jme Expenditure UNRESTRICTED FUNDS General Funds 5.734.449 8,205,347 110,846.187) 3.093,609 RESTRICTED FUNDS ERDF Redeveliyment Fund Crocodile Swamp Fund Forest Schools Fund COVID Grant Care and Conservation of Large Cats NQY Penguins Sumatran Tigers Other Restricted Funds 729,687 650.OLN) 324 {26,0591 703,628 650.000 324 12.(NX) 744.012 112,000) 112.163) 731,849 44,459 10,000 2.(K)O 44,459 10.000 2.000 2.138.023 54.459 150.2221 2,142,260 TOTAL OF FUNDS 7,872,472 8.259,806 {10.896.4091 5.235,869 22. SHARE GAPITAL 31 March 31 October 2025 2023 Issued and ful￿ paid ordinary shares of £1 each 10,000 10,000 Page 35

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO ThE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 23. SUMMARY OF FUNDS SUMMARY OF FUNDS- CURRENT PERIOD Balance at 1 November 2023 Balance at 31 March 2025 lTrcome Expenditure General funds Restricted fvnds 3.093.609 10,842,563 (17,328,073) 13,391,901) 1142,260 55.741 (1.869,2821 328.719 5.235,869 10,898,304 119,197.3551 13,063,1B2) SUMMARY OF FUNDS - PRIOR PERIOD Balance at 1 November 2022 Balan￿ at 31 October 2023 Income Expenditure General funds Restricted fvnds 5.734.449 2.138,023 8.205.347 110.846,1871 3,093,609 54.459 150,2221 2,142,260 7.872,472 8,259,806 110,896,409) 5,235,869 24. MALYSIS OF NET ASSETS BETWEEN FUNDS ANAL YSIS OF NEf ASSETS BETWEEN FUNDS - CURRENT PERIOD Unrestrreted Rèstricted funds funds 31 March 31 March 2025 202S Total funds 31 March 2025 Tangible fixd assets Intangible fixed assets Fixed asset investments Current assets Creditors due wthin one year Creditors due in more than one JEar 682.996 2.819 294.185 977,181 2,819 746.895 14,324,613) (s)o.ocKJI 34,534 781,429 14,324,613) 1500,000) TOTAL 13,391,901) 328.719 13,063,182) Page 36

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 24. ANALYSIS OF NET ASSETS BEfwEEN FUNDS (CONTINUED) ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD Unrestricted funds 31 October 2023 Restricted fvnds 31 (ktober 2023 Tol81 funds 31 October 2023 Tangible fixe¢J assets Intangible fixed assets Fixed asset investments Current assets Creditor5 due wthin one year Creditors due in more than one year 4.277.927 43.584 703.628 4,981,555 43,584 1.695,149 11,923.0541 (999,9991 1,438,632 3.133.781 11,923.0541 (999.9991 3.093,609 2,142.260 5.235.869 TOTAL RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 25. Period ènded Year ended 31 March 31 October 2025 2023 Net 8xpendtture for the period (as per Ststemenl of Finanual Athwties {8,299,0511 12.636,603) ADJUSTMENTS FOR: Dep￿￿atiOn charges Amortisation charges Dividends, interest and rents from investments IIncreasellDec￿ase in st¢xks Decrease in debtors Increase in creditors Loss on sale of tangible fixed assets DOnatiC￿ of fixed assets Impairnient tharge 758,916 22,487 1727,5681 16,7541 347,021 2,417.955 468.276 18,234 {524.3411 54,346 366,386 356,366 5.712 198.547 4,353.219 NET CASH USED IN OPERATING ACTivmES 11,133,775) 11,693,077} Page 37

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO TrIE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 26. ANALYSIS OF CASH AND CASH EQUJVALENTS 31 March 31 October 2025 2023 Cash in hand 1SO.728 2,162,813 ANALYSIS OF CHANGES IN NET DEBT Other non- cash At 31 March changes 2025 Novernber 2023 Cash flows Cash at bank and in hand Debt due Mlhin 1 wr Debt due after 1 year 2.162.813 1622,1481 {999,999) 12,012,085) 150,728 (454,5441 1500,000) 167.604 499.999 540,666 12.012,085) 667,603 (803,8161 28. CONTINGENT LIABILMES In 2005. South West EnvIr￿Ments1 Parks kn"mited enter&1 into a 125 year lease The Countil of the Borough of forbay for land at Bea￿ Quay. Torquay_ Unlil its dosure in 2020, this land was oc¢upied by the Living Coasts Coastal Zw. Under the terms of the lease. the Company is obliged to pay only a peppercom rent, however, is Partially responsible for the repair and maintenance of the site, induding a sea wall that borders it. Given the length of the remaining ￿aSe. it is likety that at some p(Mnt signific8nt repairs wll be required to the site, for whith the Company is currendy partially resp￿sIble. However, the timing and cost of these repairs ¢8nnot be reliably estimated. Folk)wing the year end. 8n agreement has been signed ￿th a new tenant for the Lmng Coasts site. However, the Company remains a party to the lease. and. therefore. has some ongoing obligabons. 29. PENSION COMMrrMENTS The Ch8rity operates a defiwl l￿ntribu￿"0n Fension scheme. The assets of the scheme are held separately from those of the Charity in an independenuy administered fund. The pension cost charge represents contribub.ons payable by the Charty to the fund and amounted to £478,906 {2023.' £348,777). £64,191 {2023.' £78,334) were payatAe to the fund at the Batano Sheet date and are indudeil in creditors. Page 38

SOUTH WEST ENVIRONMENTAL PARKS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 30. OPERAnNG LEASE COMMITMENTS At 31 March 2025 the Charity had commttments to make futUTe minimum lease payTh8nts under non- Can￿lIable operating leases as follows.. 31 March 31 October 2025 2023 Not later than 1 ￿aT Later than 1 year and not later than 5 yea Later than 5 years 9,912 7,668 19,572 5.929 10,254 23,851 37,152 The follovAng lease pawments have been recognised as an expense in the Statement of Financial Activities: 31 March 31 October 2025 2023 Operating lease rentals 13,282 9,466 31. RELATED PARTY TRANSACTIONS During the year. the tharity made transaGbons totalling £4.728.651 to Wild Planet Trust, the parent entity. and received transactions totslling £4.433.776. Al the year end there is a balance of £1.897,822 In creditors relating lo these transactions. During the year, the charity 81so made transacbons of £10.457.075 to South Wesl Zoo Enterprise5 Limited. the Charitys subsidiary. and received transactions totalling £9,617.761. At the year end, there is a balance of £1,006,633 in (¥edrtors relab"rwJ to these transacb"ons. During the year, the charity aLso incvThed costs of £3,506 and re¢eived In￿Me of £929 on behalf of Living Coasts, a dom)ant subsidiary. 32. POST BALANCE SHEET EVENTS On 2 January 2026. the Company C￿npse1ed the s￿e of the assets and transfer of operations of its IA¥0 zoological parks trj a third party. The disposals were finalised through 8greemenl with the same party acquiring certain properties ftom the Companls parent tharity, and the related income and expendÉture wll be reflected in the subsequent finanual ststements. The sale also included the operations of the Companls trading subsidiary Scrtjth Wesl Zoo Enterprises Limited. These events do not require adjustment to the finanual ststements for the perityl ended 31 M8r¢h 2025. but are disclosed to provKle users of the finanaal statements with infomiation relevant to the charity's rinancial position and futu￿ activibes. Page 39

SOUTH WEST ENVIRONMENTAL PARKS LIMrrEO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 33. CONTROLLING PARTY The Charitls parent undertaking and controlling paty is its shareholder, Wild Planet Tnjst Icharily number 3066221. The objects of Wild Planet Trust are the advancement of scienltfic kno¥￿edge. education and the promotion of conseNats"on. Its principal activities are the provision of grant to 8 range of conservation projects, the management of nature reserves for the benefit of wildlife, and the public and 5UPW)rting the scientrfic, conservation and educxtion work of the other charits.es ￿thin the Group. Wild Planet Trust is contr(Aled by its Board of Trust￿. no overall individual has ultsmate Control. Group accounts for Wild Fyanet Trust a￿ availatrAe from its prinapal place of bu&ness, Paignton Zoo, Totnes Road, Pa￿nIOn. Ta4 7EU. P8ge 40