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 year*nd. 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 Ix*nrAet&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 cc*nmunTty 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 cortseN*on 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 financ*s.
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
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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(x*darKe 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 r*t 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,$44
454,821
2.904,456
97.113
67,957
345,722
622,148
523,003
236,713
90,759
450.431
4.824,613
1,923,054
31 March 31 October
2025
2023
Deferred income
Deferred income at 1 Novemt*r 2023
Resou[￿$ 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