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2020-10-31-accounts

Charity number: 306622

WILD PLANET TRUST

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

WILD PLANET TRUST

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2
Independent auditors' report on the financial statements 26 - 28
Consolidated statement of financial activities 29 - 30
Consolidated balance sheet 31
Charity balance sheet 32
Consolidated statement of cash flows 33
Notes to the financial statements 34 - 57

WILD PLANET TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2020

Trustees S E Kings, Chair
R W J Ford, Vice Chair
S Barr BA
A C J Cooper BSc
S J Greinig BA (resigned 4 March 2021)
R Hill BA (Hons), ACA
P R F Chanin MA, PhD
B K McLaughlin
R A Rowe
M S Salmon
P M C Stevens
J P Ravenscroft (resigned 23 September 2020)
Charity registered
number
306622
Principal office
Totnes Road
Paignton
Devon
TQ4 7EU
Chief Executive Officer
Executive Director
D J Flynn (appt. 1st December 2020)
S J Tonge (res.30th June 2021)
Independent auditors
Bishop Fleming LLP
Chartered Accountants
2nd Floor Stratus House
Emperor Way
Exeter Business Park
Exeter
EX1 3QS

Page 1

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

The Trustees submit their report and the audited financial statements for Wild Planet Trust for the year ended 31 October 2020. The financial statements comply with the Charities Act 2011, and have been prepared in accordance with the requirements of the Statement of Recommended Practice on accounting and reporting for charities (FRS 102) effective 1st January 2019.

Strategic Report

Strategic Aims & Objectives

Vision

A world rich in wildlife and wild places.

Mission

Wild Planet Trust is an education, scientific and conservation charity dedicated to protecting our global wildlife heritage and inspiring in people a respect for animals, plants and the environment.

Strategic Aims

In order to achieve its mission, the Charity has set out four main Strategic aims in its Strategic Plan for 2020-2025:

  1. Engagement: Inspiration and empowerment of the public to join our conservation culture and actively participate in conservation of the natural world.

  2. Local Conservation: Practical conservation of local habitats and species.

3. Global Conservation : Providing leadership, training, expertise, technical support and crucial funds to our overseas conservation partners.

4. Advocacy: Campaigning and advocating for wildlife and the natural world with key organisations and decision makers.

Public Benefit

In setting objectives and planning activities for the year the trustees have given careful consideration to ensuring that the FKDULW\¶V�DFWLYLWLHV�DUH�WR�WKH� public benefit and they have had regard to the Charity Commission¶V�JXLGDQFH�RQ�SXEOLF� benefit. Accordingly, the activities at both zoos during the last year were for the public benefit and were in accordance with the objects of the charity. They are:

In fulfilling its objectives the charity is dedicated to conserving our global wildlife heritage and inspiring in its many visitors a life-long respect for animals and the environment. The charity achieves this by:

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WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

2018/19
Actual		 2019/20
Target		 2019/20
Actual		 Variance to
previous year		 Variance
totarget
Paignton Zoo Total Visitors 415,613 486,726* 264,809 -36.3% -13.4%
Paignton ZooPayingVisitors 248,929 315,600* 176,976 -28.9% -43.9%
Paignton ZooEducationsessions 29,956 30,000 6497 -78.3% -78.3%
Paignton ZooTaughtworkshops 334 330 88 -73.6% -73.3%
Paignton Zoo paid education bookings 24,686 20,000 6,497 -73.7% -67.5%
Paignton Zoo Admissions income £3,897,597 £5,107,114 £2,847,886 -26.9% -44.2%
Paignton Zoo Gift Aid % 42.7% 43% 33.7% -21.1% -21.6%
Paignton Zoo Contribution fromtrading £467,869 £515,377 £195,372 -58.2% -62.1%
Paignton Zoo media coverage target £848,107 £1,400,000 £394,039 -53.5% -71.9%
NewquayZooTotal Visitors 155,112 159,560 112,007 -27.8% -29.8%
NewquayZooPayingVisitors 109,363 116,110 92,084 -15.8% -20.7%
NewquayZooEducationSessions 8,937 8,000 2,712 -69.7% -66.1%
NewquayZooTaught Workshops 143 150 46 -67.8% -69.3%
NewquayZoo paid educationbookings 7,757 6,500 1,537 -80.2% -76.4%
NewquayZooAdmissionsincome £1,396,100 £1,537,321 £1,205,361 -13.7% -21.6%
Newquay Zoo Gift Aid % 49.8% 52% 37.5% -32.8% -27.9%
NewquayZoo Contribution from trading £168,001 £160,416 £145,402 -13.5% -9.4%
Newquay Zoo media coverage target £229,089 £225,000 £76,553 -66.6% -66%
Living CoastsTotal Visitors 126,140 137,350 26,063 -79.3% -81%
Living CoastsPayingVisitors 70,690 81,100 11,062 -84.4% -86.4%
Living CoastsEducationSessions 7,301 6,000 2,282 -68.7% -61.2%
Living Coasts taught workshops 66 65 46 -30.3% -29.2%
Living Coasts paid educationbookings 5483 5,000 1,648 -69.9% -67%
Living Coasts Admissions income £611,156 £715,993 £95,939 -84.3% -86.6%
Living Coasts Gift Aid % 47.2% 43% 44.7% -27.9% 4%
Living Coasts Contribution from trading -£16,504 -£8,343 -£127,734 -1431% -674%
Living Coastsmedia coveragetarget £151,809 £200,000 £39,484 -74% -80.3%

In 2019/20 the charity spent a total of £464,300 on its conservation, research and grant making programmes in addition to the wider charitable activities carried out across its sites.

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WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Wild Planet Trust Grants Scheme 2019/20

During 2019/2020 the Wild Planet Trust awarded £4,500 in conservation grants in addition to £26,773 awarded to the Field Studies Council to support work at Slapton Ley. Grantees ranged from university researchers to community or conservation organisations, and project topics fulfilled elements of all of the Wild Planet Trust strategic aims. The majority of funded projects fulfilled our in-situ conservation strategic aim, but projects also focused on ex-situ conservation, education, and conservation advocacy, and many projects covered multiple aspects, allowing integrated contribution to the strategic aims. Funded projects are listed below for their primary strategic aim, with details of outputs given for example projects.

Enhancing conservation of critically endangered Aloe species of Tanzania

Habitat degradation and destructive harvesting and collection of critically endangered Aloe species (CEAs) for medicine or trade threaten the population of these plants in Tanzania. The aim of this project was to enhance survival of CEAs via ex-situ conservation in a botanical garden, promote their restoration, and raise awareness to protect them in the wild.

The endangered Dracaena Ombet tree is only sparsely found in tKH�'HVD¶D�IRUHVW�RI�1RUWKHUQ�(WKLRSLD��,Q�WKLV�KDELWDW�� the species is heading to extinction due to over-exploitation and habitat degradation. To date, there has been no detailed study on its ecology and conservation status. This project studied its ecology, conservation challenges and future interventions by using data from the local community, field surveys and observations. The collected data was then analysed to train the local community and other relevant stakeholders on conservation of the species going forward.

Study and conservation of natural habitats of endangered Colchicum species in the steppes of Odessa region (Ukraine)

This project studied the active population of the endangered Colchicum species of southern Ukraine, with the aim of enhancing their protection. Enabling the local community to help with this process meant that they now have a key role in protecting their habitats and other rare and endangered plant species in the area. The results of this work were used in the planning of the protective zones in the Odessa region.

Advancing the understanding and conservation of endangered Vietnamese rosewood (Dalbergia oliveri) in Vietnam

Dalbergia oliveri is among the most endangered and illegally traded plant in Indochina. Bu-Gia-Map National Park is one of the most important conservation sites for the species. The aim of this study was to document the relevant conservation issues and then propose a long-term conservation plan to ensure the continued existence and recovery of this species.

Global Conservation

In addition to making grants the group continued to operate in situ conservation projects (although significantly reduced due to the impact of the COVID pandemic) through its regional programmes at a cost of £121,075. This figure does not account for the time and resources utilised by the field conservation team in managing these projects.

The Omo Forest project in Nigeria has continued despite the impact of the pandemic. During 2019, we were working to ensure that the rangers were paid and were increasing the patrols of the forest. Unfortunately, the onset of Covid in Nigeria has led to complications in maintaining the level of patrols. We had received a significant amount of funding from external sources and, due to some very quick manoeuvring at the onset of the pandemic, the funders agreed that we could switch the activities covered by that funding to cover the core costs of the rangers wages. Toward the end of 2019 we were invited to put forward a tender to the executors of a will from which we received £50,000 for the continuance of activities in Omo. This is giving us scope to continue the work in the Omo without impacting on the finances of the Wild Planet Trust.

Local Conservation

At Slapton the 10 year management plan was drafted and accepted by the Slapton Management Committee. Work began on some of the clearance necessary before the onset of Covid. A number of the Slapton team were furloughed

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WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

however some works were reinstated once the first lock down was finished. During the period of lock down it appears that some of the species benefitted from the lack of disturbance and dormice have been seen in new areas

Despite the closure of Living Coasts we are continuing to work with the Totnes based company Valeport to look at opportunities to continue the Seagrass project. We were unable to carry out survey dives during 2020 but are looking to retrench and continue in 2021.

Unfortunately, we had to make the decision to stop the conservation breeding of Devon crayfish on site. While we were looking to establish a colony within the zoo, we had yet to receive the breeding females. The original projection of staff time to undertake this work underestimated the man hours required to establish a breeding colony and, with COVID impacting on staff numbers, it was considered beyond our current capacity. However, we had received a sum of money IRU�WKH�VXUYH\�RI�³$UN´�VLWHV�DQG�ZH�ZLOO�IXOILO�RXU�FRPPLWPHQW�WR�WKDW�DV�ZH�GHFLGH�ZKHWKHU�WR�FRQWLQXH�ZLWK�WKH�SURMHFW�

At Paignton Zoo a survey of ash trees was carried out to evaluate our situation. Unfortunately, the site has a large number of mature ash which have evidence of disease and will need attention over the coming months. This will lead to the need for further planning for re-planting for the future.

Advocacy

Prior to the outbreak of COVID-19 we had started to develop a programme of events around the use of Sustainable Palm Oil focussed on Newquay. Using the template from Chester Zoo on developing the Sustainable Palm Oil City project, we began to tailor the criteria to suit Newquay. The project was presented to the Local Authority who responded positively, leading us to begin to develop an advocacy plan around establishing Newquay as a Sustainable Palm Oil Town. This work will now continue in 2020/21.

Engagement

All three of our sites were forced to close on the 23rd March 2020 and the sad decision was made not to reopen Living Coasts, which had recorded substantial deficits in trading since opening in 2003. After nearly 20 years of operation, the fabric of the building along with the plant and machinery were all in need of significant investment and it would have been difficult to justify the level of expenditure required. The potential financial impact of the pandemic meant that further investment was impossible and so the decision was made not to reopen.

Following the decision not to reopen Living Coasts, work immediately started to find homes for all of the animals and by the end of the financial year all of the animals had been successfully relocated.

As a result of the zoos and schools being shut down for long periods together with the requirement for social distancing measures when open, the numbers of formal education visits to our sites in the year was significantly lower than in previous years. 7KH�FKDULW\¶V educational department provided formal and informal teaching to 11,491 students across the three sites, compared with 46,194 in 2018/19.

In order to meet its charitable objectives, the charity planned to attract 779,636 visitors. Despite the lockdowns, the charity had 402,879 visits during the year, down from 696,865 in the previous year. While the visits are opportunities for the general public to enjoy a day out in interesting surroundings, the charity aims to communicate important and serious messages regarding conservation of endangered species and the destruction of their natural environments. Exit surveys indicate that it was successful in achieving this aim and in addition, the majority of the public who visit enjoy the experience.

Financial Review

The impact of the COVID-19 pandemic dominated the 2019/20 financial year and as a result, the group recorded a deficit of £2.86 million.

In light of the financial impacts of the pandemic, together with the closure of Living Coasts, a major restructure and redundancy program was completed during the year, with a total of 94 staff leaving, 58 of these as a result of redundancy.

Paignton Zoo and Newquay Zoos reopened at the start of July and trading in the fourth quarter was stronger than originally anticipated which offset some of the losses sustained during lockdown. Inevitably, the cost of maintaining the zoos during lockdown, coupled with redundancy and restructuring costs and the costs of closing Living Coasts and rehoming the collection meant that the group showed a substantial deficit on trading for the year.

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WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Further write-downs to the book values of the Living Coasts assets across the group increased this deficit by another £927,560 to £2.8 million. In order to replace the cash lost during the year a £3 million loan was obtained from Lloyds Bank under the government CBIL scheme.

Net Assets at the year-end were £7.6 million, down from £10.4 million the previous year.

Going Concern

The accounts have been prepared on a going concern basis. The Trustees feel that this is appropriate, as at the time of signing the accounts lockdown restrictions have been lifted, rollout of the COVID-19 vaccine in the UK has been going well and Paignton and Newquay Zoos have reopened to strong visitor numbers.

Given the uncertainties surrounding foreign travel in summer 2021 due to COVID restrictions, indications are that visitor numbers to the South West will be robust. The zoo sites are predominantly outdoor attractions, which offer people a chance to reconnect with the natural world. We are therefore optimistic that we will see a return to pre-COVID visitation levels this summer.

The CBIL loan obtained last summer effectively replaced the cash lost during the closures. As part of its reserves policy, the Charity holds cash in reserve in case of trading difficulties. Despite the challenges faced in 2019/20 the Charity continues to hold sufficient cash to meet this requirement. (See Reserves section below)

The Charity has a lease on the Living Coasts site which is currently empty following the closure last March. The Trustees are monitoring the position with regard to this lease which has a peppercorn rent. We are actively seeking to dispose of the site and at present, the cost of managing the site in its current form is substantially less than the support that we have had to provide to cover the operating losses in recent years. In the short term therefore SWEPL is in a better position than when the site was in operation.

If we were unable to dispose of the site then it is possible, although not definite, that in the medium term we will have to carry out some work to maintain the structure. Trustees will therefore continue to monitor the position with this lease regularly, giving consideration to the FRS 102 requirements with regard to onerous leases.

In the circumstances and given the resources available to the charity, the Trustees consider that the going concern basis is appropriate

Incoming Resources

The majority of the group¶V�LQFRPH�FRPHV�IURP�WKH�RSHUDWLRQ�RI�WKH�SDUNV�ZLWK�DGGLWLRQDO�LQFRPH�IURP�WKH�LQYHVWPHQW� portfolio held by Wild Planet Trust. (£91,063 in 2019/20). The charity receives some donation income but the majority of this comes from donations at the gate in the parks which relate to gift aid. Fundraising produced income of £20,851, 0.2% RI�WKH�7UXVW¶V�LQFRPH�

Despite the impact of the site closures and the COVID-safe restrictions, Paignton and Newquay Zoos were able to open to visitors in time for the peak summer season and then remained open through to the end of the financial year. As a result, the Charity received £5.8 million from its charitable activities, mainly gate money from visitors to the zoos.

Education income was substantially reduced due to the effects of the pandemic, producing income of £56,181 as opposed to £316,930 in 2018/19.

Turnover on trading activities was reduced from £3.8 m in 2018/19 to £2.2 million in 2019/20. Despite this, the trading subsidiary (South West Zoo Enterprises Ltd) was still able to generate a profit of £149,769, which it donated to SWEPL. In 2018/19 this figure was £619,367.

Living Coasts UHFHLYHG�D�JUDQW�RI��������IURP�0RUULVRQV�WR�EX\�HTXLSPHQW�WR�KHOS�UXQ�D�SLORW�³4XLHW�+RXU´�VFKHPH�IRU� autistic children at Living Coasts. Unfortunately, the pilot was suspended due to the COVID lockdown but we hope to continue with this at Paignton and Newquay Zoos when social distancing measures permit.

The Trust received £12,982 of grant income to continue the work on the Crayfish Ark site project and a £50,000 donation to assist with the Omo Forest project in Nigeria. We received £8,515 from Valeport towards the costs of installing eco

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WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

moorings to protect Seagrass beds in Torbay and £3,000 from Marjorie Coote Animal Charity Trust to help with the cost of repairs in the Great Ape house at Paignton Zoo

The group received £699,141 from the government Job Retention Scheme during the year, which was used to pay salaries of staff who were furloughed during the zoo closures.

The total income for the year was £9.3 million and a breakdown is shown in the following chart:

Fundraising

$OO�RI�WKH�FKDULW\¶V�IXQGUDLVLQJ�DFWLYLWLHV�DUH�XQGHUWDNHQ�LQ-house and we do not employ or partner with third parties for this purpose. The charity is registered with the Fundraising Regulator demonstrating our commitment to good IXQGUDLVLQJ��7KH�&KDULW\�FRPSOLHV�IXOO\�ZLWK�WKH�VFKHPH¶V�)XQGUDLVLQJ�3URPLVH�DQG�WKH�DVVRFLDWHG�&RGH�RI�)XQGUDLVLQJ� Practice.

Fundraising during 2019-20 was minimal, with the majority of funds raised coming from grant applications, corporate sponsorship, events organised in-house and legacies. The Trustees wish to express their gratitude to the members of the public who made generous donations to support the charity during an exceptionally difficult time.

In the year ended 31st October 2020 the Trust received no complaints about its fundraising activities. We did not carry out any fundraising activities which would be unreasonably intrusive or place undue pressure on people to give money or other property.

Resources expended

In 2019/20, the group spent £12 million. Even though the zoos were closed to visitors, the important work of the charity went on throughout the year, with the animal and plant collections needing care and attention throughout. As a result, £9.4 million, was spent on the operation of the parks with an additional £361,566 being spent on Education activities. £464,300 was spent on Conservation activities including the In-Situ projects and grants to fund education/research projects including a payment to the Field Studies Council of £26,773 for the management of Slapton Ley. The upkeep of the nature reserves in Torbay cost £30,665

Expenditure on raising funds cost £1.8 million. The commercial trading operation accounted for the majority of this with £17,466 being spent on fundraising and support costs.

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WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Staff costs at £6.36 million represented 53% of the total expenditure during the year, although 696,016 of this related to furloughed staff costs, which were reclaimed from the governments JRS grant. Redundancy costs came to £250,491.

Living Coasts held £4,945 at the start of the year in a restricted fund relating to the Ocean Connections project. This is a European research project involving universities, zoos/aquariums and schools to improve ocean conservation education, through the use of creativity and AR/VR technologies. During the year, the Charity spent £1,961 on developing resources and working with local schools. The remaining funds will be used to continue the project in 2020/21.

In summer 2020 we hosted a Great Brick Safari at Paignton Zoo at a cost of £181,725. This was originally planned to run from Easter with the intention of boosting visitation ahead of the peak season. The start of the event was delayed due to lockdown but was then extended through to Christmas. The event proved very popular with visitors but against a backdrop of the COVID restrictions is has proved difficult to determine how successful the event was or could have been.

Impairment of Assets

Now that the Living Coasts site has ceased to operate as a visitor attraction it is appropriate to consider the value of the assets relating to that site in the accounts. Historically, we have valued the assets at Living Coasts on the basis of value in use due to the complexity of attaching a market value to the site. Now that the assets are no longer in use, it is not possible to attach a value to these assets. We have therefore impaired £231,750 of assets owned by the Living Coasts charity in the 2019/20 accounts and a further impairment of £695,810 has been made to the value of the lease in SWEPL. The total impairment for the group in 2019/20 was £927,560.

A breakdown of expenditure in 2019/20 is shown in the following chart:

Capital Expenditure

We continue to invest in our sites and in 2019/20 spent £486,146 on capital expenditure. The majority of this spend being on installing badger proof fences at Paignton Zoo along with an upgrade to the building management system. Little other development work was completed due to the impact of lockdown and social distancing requirements. A full review of the sites was carried out and this has identified a significant maintenance backlog, which will require substantial capital expenditure in future years.

Investments

The Trustees take professional advice before taking major decisions which could result in a loss to the charity. Accordingly, a firm of brokers has been appointed in a discretionaU\�UROH�WR�PDQDJH�WKH�7UXVW¶V�LQYHVWPHQW�SRUWIROLR���

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WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

The investments of the Trust are managed to ensure that:

7KH�7UXVW¶V�LQYHVWPHQW�SRUWIROLR��DQG�WKH�SHUIRUPDQFH�RI�LWV�EURNHUV��LV�UHYLHZHG�DW�OHDVW�WZLFH�DQQXDOO\�

Grant making Policy

The trust allocates a sum each year for grants. It delegates the decision as to who is awarded a grant to a subcommittee. The subcommittee meets six monthly to consider applications that have been received within the preceding six month period. Grants are awarded for projects that meet tKH�WUXVW¶V�FKDULWDEOH�REMHFWLYHV�RI�UHVHDUFK��DQG� education and are normally awarded to individuals, although appropriate projects put forward by organisations will be considered. The amount awarded is usually up to a maximum of £1,000 and a report on the output of the project is required.

Reserves

It is the general policy of Wild Planet Trust and its subsidiary charities, South West Environmental Parks Limited and Living Coasts to apply towards their charitable objectives as much cash as they reasonably can, to avoid accumulating excessive reserves.

In setting its reserves policy the Charity takes account of its continuing financial commitments in terms of staffing and overheads including the costs of maintaining the animal and plant collections and funding its charitable activities. The Charity also considers the risk that its income for any particular year may be impacted by a number of factors outside of its control such as periods of prolonged wet weather at peak visitor times, varying levels of economic prosperity and employment, alongside the potential for closure of the zoo to visitors due to the outbreak of contagious disease.

Following the COVID -19 pandemic and the consequence this has had for the organisation the Trustees are currently reviewing the reserves policy however at the year end the reserves policy was that, having considered the factors that could impact on the business, Wild Planet Trust maintains minimum available cash reserves of £1m within its subsidiary companies at all times. Such reserves would be sufficient for SWEPL and its subsidiary companies to operate without significant curtailment of their activities for a period of up to six weeks. In addition, Wild Planet Trust held an investment portfolio valued at £2.37m as at 31[st] October 2020. Whilst the investment portfolio is not considered to be part of the free reserves, the Trustees consider that these assets could be liquidated in a relatively short timescale if required, albeit at a cost.

The subsidiary companies making up the SWEPL group held £6 million of cash as at 31[st] October 2020, which was considered to be more than sufficient cash to cover the annual trading cycle and the £1m reserves discussed above.

Borrowing

The Trustees normal policy is that, where considered appropriate and being mindful not to overcommit the Charity, borrowings may be used to fund elements of significant capital projects. At the end of the 2018/19 financial year the charity had no outstanding loans.

Following the outbreak of the pandemic and in order to guarantee that the business would have sufficient cash to operate as a going concern during the winter of 2020/21, SWEPL drew down a £3,000,000 government backed Coronavirus Business Interruption Loan (CBIL) in August 2020. Repayments start from March 2021 and the loan is due to be repaid by August 2026.

Restricted Funds

Restricted income funds derive from donations, grants and legacies received and are put towards a variety of capital projects and outreach activities. At 31[st] October 2020, the Wild Planet Trust group had restricted funds of £1.57 million (see note 22 to the accounts).

8QUHVWULFWHG�LQFRPH�IXQGV�PD\�EH�WLHG�XS�LQ�IL[HG�DVVHWV�RU�IUHHO\�DYDLODEOH�IRU�WKH�&KDULW\¶V�JHQHUDO�FKDULWDEOH�SXUSRVH��

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WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

After setting asidH�UHVWULFWHG�LQFRPH�IXQGV�WKH�EDODQFH�RI�WKH�&KDULW\¶V�DYDLODEOH�IXQGV�DW�WKH�EDODQFH�VKHHW� date are designated as follows:

At 31 October 2020, the Trust had total funds employed of £18.7 million on the consolidated balance sheet of which £109,728 related to prior bequests, property sales and cash held for restricted purposes and £408,293 related to the original endowment. Restricted funds totalled £1.6million with £1.65m of the £15.3m of fixed assets restricted. The balance of the fixed assets of £13.6 million were considered to be unrestricted.

The element of unrestricted funds considered free reserves was therefore £3.1 million at 31[st] October 2020.

Plans for Future Periods

Key Performance Indicators 2020-21

2018/19
Target		 2019/20
Target		 2020/21
Target
Paignton Zoo Total Visitors 479,710 486,726* 415,671
Paignton Zoo Paying Visitors 298,600 315,600* 280,950
Paignton Zoo Education sessions 39,265 30,000 0
Paignton Zoo Taught workshops 350 330 0
Paignton Zoo paid education bookings 20,000 20,000 0
Paignton Zoo Admissions income £4,682,883 £5,107,114 £4,510,131
Paignton Zoo Gift Aid % 43% 43% 43%
Paignton Zoo Contribution from trading £550,082 £515,377 £341,837
Newquay Zoo Total Visitors 159,560 159,560 149,600
Newquay Zoo Paying Visitors 116,110 116,110 115,050
Newquay Zoo Education Sessions 7550 8,000 0
Newquay Zoo Taught Workshops 135 150 0
Newquay Zoo paid education bookings 5,500 6,500 0
Newquay Zoo Admissions income £1,436,345 £1,537,321 £1,523,967
Newquay Zoo Gift Aid % 52% 52% 52%
Newquay Zoo Contribution from trading £165,761 £160,416 £159,473

*Included 17,000 uplift for Brick Safari

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TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Conservation Conservation
FY 20-21 Feb± Apr May±Jul Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Conservation
funding		 Complete
commitments to
achieved
conservation
funding for
elephants in
Nigeria, crayfish
and seagrass in
UK		 Undertake Nigeria
trip to establish
education
sessions
Review Ark sites
for crayfish
Develop advocacy
programme for
crayfish		 Report to Defra
/ Darwin Fund
on activities
2 further
potential Ark
sites identified
Produce
programme of
infomessages
around use of
the bay		 Develop proposal
for second stage
funding
Assess viability of
Ark sites for Devon
crayfish
Implement
programme of
volunteer dives to
assess seagrass
beds		 Application submitted
to Defra / Darwin Fund
Reports submitted to
Devon crayfish group
Timetable of dives
produced
Feedback on social
media infomessages		 Review of Wild
Planet Trusts
continued input to
crayfish project
Continued
implementation of
dive programme.
Assessment of
use of the Bay for
leisure activities		 Activity plan or exit
strategy for Devon
crayfish project
produced
Report on status of
seagrass beds for
Torbay seagrass
action group
Community
based
conservation		 Lead an Urban
Nature
Community
project in
Torbay		 Develop multi-
stakeholder group
working with
green issues
within the Bay		 Lead at least
one multi-
stakeholder
group.
Develop two
common focus
points		 Develop action plan
for key focus areas
and target
audiences		 Production of plan with
KPIs

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TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Conservation Conservation
FY 20-21 Feb± Apr May±Jul Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Education
online		 Broaden our
education offer
and increase
our education
catchment with
blended and
online learning
programmes
developed in
partnership with
two academies		 Develop
relationships with
key academies in
Devon and
Cornwall to
discuss models
for work		 Report
relationships
with two
academies for
blended
learning		 Investigate
possibilities for initial
visits and sessions
with the schools		 At least one visit and
one online session to
test the model		 Develop curricula
based offer for
academies		 Produce learning
materials for blended
learning model and
online model of
education delivery
Green Urban
spaces		 Develop and
implement a
plan for the
gardens as
exemplar of
Green Urban
Spaces		 Develop a
scheme of works
and species to
develop the
gardens at PZ
and NZ as Green
Urban spaces		 Produce a
collection plan
and timeline of
works for PZ
and NZ
gardens		 Develop aµVKRZ¶
garden within
Paignton Zoo
aligning with
mission / vision
objectives		 Open a show garden
within Paignton Zoo		 Prepare site for
implementation of
planting plans		 Site ready for new
planting scheme
Ash Die back Trees in
advanced state
of die back
removed and
those in earlier
stages
monitored		 Continue
programme of
works immediate
ash die back
works		 Complete
immediate
works with
contractors		 Monitor tree
condition		 Report on immediate
issues		 Repeat ash die
back survey		 Implement
programme of works
for winter period

Page 12

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Conservation Conservation
FY 20-21 Feb± Apr May±Jul Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Ranch
expansion		 Remove
Verticrop and
replace with
exhibit		 Develop and
implement plan of
works of quotes
and timelines		 Removal of
verticrop
structure		 Construction of off
the peg stabling and
sourcing of animals		 Completion of stabling
and introduction of
animals
Redevelopme
nt plan of Ape
Centre		 Plan of works to
update the Ape
centre		 Develop plan of
works and quotes		 Report to board
on plans and
costings		 Consideration
of
options		 Decision on chosen
option
Review of
Animal
Facilities		 Rolling plan of
works for
animal houses		 Liaise with
maintenance dept
re: priority works		 Report back
against
facilities plan		 Liaise with
maintenance dept
re: priority works		 Report back against
facilities plan		 Liaise with
maintenance dept
re: priority works		 Report back against
facilities plan
Review of
animal diets		 Improved health
and welfare of
species		 Develop list of
priority species for
assessment and
indicators for
improvement		 Report on
priority species
with timetable
of investigation		 Initiate research and
review		 Report on priority
species
Review plan and
confirm next priority
species		 Initiate research
and review		 Report on priority
species
Review plan and
confirm next priority
species
Population
Management		 A sustainable
collection plan
in line with
staffing levels
and a phased
programme of
animal
transports		 Review Species
Collection		 Produce
revised plan
and timeline		 Develop timeline for
animal imports and
exports		 Animal moves in line
with collection plan		 Continue with
plans for moves
Report against
species holding
and timeline		 Annual Collections
Plan Report for
Trustees

Page 13

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Operations Operations
FY 20-21 Q2 Feb - Apr Q3 May - Jul Q4 Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Business
Planning
Coordination		 20212022
Business Plans
approved by
Trustees		 Review of all
processes for
reporting issues
and/or ideas for
new projects.		 Portfolio of new
procedures.		 Roll out of new
business planning
procedures.		 Business Plans
submitted.		 Review of new
systems.		 New systems
finalised for 2021/22.
Site
Maintenance		 Reduce
backlog by
50%		 Identify key capital
projects within
backlog. Identify
trades within
maintenance
requests.		 Fully costed
capital
expenditure
project list.
Plan for
overcoming the
remaining
backlog.		 Tender process for
subcontractor.
Create Asset
Management Plan		 Agree projects to put
forward to 21/22
Business Plan.		 Subcontractor
issues plans and
commences work.		 Board approves
Capital spend for
2021/22.
Review of backlog.
Commercial
analytics		 Products and
services
matched to
increased
awareness of
commercial
performance		 Commercial teams
to create suite of
financial and non-
financial KPIs as a
management tool.		 KPIs are
finalised		 Commercial team to
coordinate gathering
approved KPI
information from
wider organisation		 Monthly dashboard
created.		 Ongoing activities
and review.		 Dashboard
disseminated across
organization.

Page 14

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Operations Operations
FY 20-21 Q2 Feb - Apr Q3 May - Jul Q4 Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Annual Passes Annual Pass
sales to
achieve target
of £795k		 Investigate and set
up all process and
procedures for
Direct Debit
payments.		 Direct Debits
systems in
place for
monthly
payment of
Annual Passes.		 Review the sales
profile of the
Passes.
Review the product
itself.		 Increase in new Annual
Passes and renewals
from previous year		 Upselling activity
throughout season
through to winter.		 Review of Annual
Passes
Site and
Enclosure
Security		 Robust site
and enclosure
fences		 Review of all fence
lines cross the
sites.		 Develop and
implement plan
of works and
quotes for NZ
Tapir fence		 Develop and
implement plan of
works and quotes
for PZ Cassowary
fence.
Prepare plans for
any other large
fence repairs for
2021/22 Business
Plan		 Develop all plans for
2021/22 Business Plan
relating to fence lines.		 Complete planned
fence repairs		 Annual review of
fence lines across
both sites.

Page 15

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Marketing & Development Marketing & Development
FY 20-21 Feb - Apr May - Jul Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Consumer
insight		 Measurable
uplift of guest
visits in
targeted
segments		 Run data profiling
for Easter and
May half-term
campaigns		 Data profiling
complete		 Run data profiling
for Summer holiday
campaign		 Data profiling complete Run data
profiling for
October half-
term campaigns		 Data profiling complete
Websites Improved user
experience, to
support
achievement of
revenue
targets		 Write new content PZ content
complete		 Launch PZ website.
Write new content
for NZ		 PZ Website launch in
May. NZ website
launched in July
CRM Achievement of
visitor numbers
and revenue
targets.		 Use Salesforce
and Marketing
Cloud for targeted
e-marcomms		 Increased open
and click
through rates
(see digital
KPIs). Meeting
revenue
generation
targets.		 Use Salesforce and
Marketing Cloud for
automated e-
marcomms		 Direct communication
with guests post-visit		 Use Salesforce
and Marketing
Cloud to
automate annual
pass and
adoption
renewals		 Automated renewals to
meet renewal targets
Data Protection Compliance
with Data
Protection Act
2018		 Develop audit
criteria and carry
out audit		 Audit
completed.
Fully compliant		 Any actions from
audit implemented.
Amend criteria if
required		 Actions complete Audit by end of
September		 Audit completed. Fully
compliant

Page 16

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Marketing & Development Marketing & Development
FY 20-21 Feb - Apr May - Jul Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Event planning Events plan for
2021 including
Summer and
Christmas
event.
Recommendati
on for
Christmas
2022.		 Event planning 2021 event
plan complete		 Event planning and
implementation		 Summer event takes
place.
Recommendation for
Xmas 2022 event for
business planning		 Christmas event
planning		 Summer event took
place and evaluation
complete. Christmas
2022 event planned
Paignton Zoo
Centenary		 Plan agreed for
2023 to
celebrate PZ
Centenary		 Write draft plan Plan agreed
and presented
to Board of
Trustees		 Event planning and
funding applications		 Report on progress Event planning
and funding
applications		 Report on progress
Fundraising 2021-2025
strategy
agreed and
activities
launched		 Develop strategy Key fundraising
streams
identified		 Draft strategy Strategy approved by
Board		 Finalise plans Round 1 fundraising
launched

Page 17

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Finance & HR Finance & HR
FY 20-21 Feb - Apr May - Jul Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Staff Survey Staff
satisfaction
measured and
improvements
delivered		 Feedback from
survey to ERG
and staff with
recommendatio
ns		 Feedback
completed		 Prepare and
implement
improvement plan
based on survey
results		 Plan in place Delivery of plan
and prepare for 6th
survey in Q1 2021
to measure
improvements		 Improvement plan in
place. Survey plan in
place
Gender Pay
Gap		 Reasons for any
GPG
understood and
justifiable		 Produce 2nd GPG
report		 Report completed Compare with
previous report
and brief SMT and
managers, update
website and
amend plans to
address any
issues		 Briefings held and
targets agreed for
2022.
Wellbeing &
resilience		 Measurable
improvements
in staff well-
being.
Staff absence
reduced by 5%.
Staff turnover
reduced by 2%
on 2018/19.		 Analyse survey
data on
wellbeing.
Identify areas
for improvement
via ERG.
Review
mentoring
programme		 Benchmark data
on Wellbeing
available. Ideas
presented to
SMT for
improvement
and continuation
of mentoring
programme		 Develop plan for
continuing to
measure wellbeing.
Implement ideas for
improvement		 Plans agreed and
shared with
managers		 Roll out of any
new initiatives and
ongoing wellbeing
survey.
Measurement of
absence and
turnover data
completed		 Data analysed and plan
agreed for 2022

Page 18

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Finance & HR Finance & HR
FY 20-21 Feb - Apr May - Jul Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Training Maximise
Apprenticeship
opportunities at
our sites		 Identify
opportunities
with local
providers.
Develop SDC
Keeper
Apprenticeship		 Establish
contact with
providers.
Keeper
apprenticeship
on target for
September
launch		 Develop program for
staff, including
managers and
keepers		 Keeper
apprenticeship
programme in place		 Start from 2021-22
academic year		 Staff enrolled from Sept
2021
Personal
development
plans for all staff
members		 PDRs identify
training needs		 PDRs
completed		 HR to co-ordinate
training needs and
arrange training		 Identified relevant
training delivered		 Training delivery
continues and
business plans for
2021-22
developed		 Training identified in
PDR delivered or
planned with feedback
to staff
Individual and
collective
training levels
match
mandatory
requirements
and business
needs		 Recruit training
coordinator		 Additional
member of staff
in place		 Prepare
departmental plans		 Plans issued Training delivered
and reviewed		 Training report issued
ICT Strategy ICT strategy
incorporates
end user
requirements		 Schedule
meetings with
stakeholders		 Meetings
scheduled		 Develop
understanding of
stakeholder needs		 Meetings complete Amend ICT
Strategy, consult
and finalise		 Revised ICT Strategy
complete

Page 19

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Directorate Directorate Finance & HR Finance & HR
FY 20-21 Feb - Apr May - Jul Aug- Oct
Item Outcome Activity Milestone Activity Milestone Activity Milestone
Telephone
systems		 Phone
communications
with guests and
between sites
available 24/7		 Rollout
replacement
phone system at
PZ		 New phone
system in place
and working		 Decommission and
remove old systems
when new system
proven		 Old contracts
terminated and
equipment removed		 Prepare plans for
rollout of additional
functionality		 Phase 2 phone plan in
place
ICT backup Continuous
availability of
data at all sites		 Switch backup
solution at NZ to
Acronis to mirror
PZ setup		 Software
deployed and
working
Finance
policies		 Finance
procedures,
documented,
compliant and
understood		 Complete draft
policy		 Finance Policy
draft complete		 Document
associated
procedures		 Finance Procedures
complete		 Consult on drafts
and finalise		 Final policy &
procedures document
complete
VAT Simplified VAT
arrangement in
place		 Recalculate
2020-21 VAT
year in line with
standard
method		 HMRC agree
VAT
calculations for
year		 Calculate VAT on
standard method		 1/4ly VAT return
submitted and
payment made		 Calculate VAT on
standard method		 1/4ly VAT return
submitted and payment
made

Page 20

WILD PLANET TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Principal Risks and Uncertainties

The major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems and procedures have been established to manage those risks. Further details of these systems and procedures are given below.

Risk Management

The trustees have in place ongoing measures to assess business risks and implement risk management strategies. These involve identifying the types of risks the charity faces, prioritising them in terms of potential impact and likelihood of occurrence and identifying means of mitigating the risks. Principal risks are identified, assessed and monitored by:

The Trustees maintain a register of risks which is regularly reviewed and updated. The Risk Management & Audit Sub Committee conducts a formal review of the register and the principal risks identified on a sixmonthly basis and subsequently reports its findings and recommendations to the full Board of Trustees.

At the last review in February 2021, the register identified 49 main risks and the control measures that the organisation has in place to manage them. With the control measures that are in place the organisation does not consider that any of the risks represent a significant threat to the organisation although the long term impact of climate change remains the primary risk to future viability of operations.

  1. Long term epidemic affecting ability to move animals under BALAI directive. For example, outbreak of TB

  2. Impact of climate change, particularly the Living Coasts site where sea level rises and increased storms may threaten the fabric of the building which could require substantial financial support to rectify.

  3. Financial support required to support/dispose of the Living Coasts site.

  4. Rising Energy Costs putting pressure on budgets and our ability to maintain exhibits with high energy consumption e.g. Crocodile Swamp at Paignton Zoo

  5. Changing perceptions of Zoos and Aquaria impacting on visitation

Page 21

WILD PLANET TRUST

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

The Principal Uncertainties facing the organisation at present are

  1. The impact of the COVID-19 pandemic. This poses two main causes of uncertainty: -

  2. a. When the Zoos will be able to reopen and whether additional closures will be necessary

  3. b. How long social distancing measures will be required as these impact on the number of visitors entering the parks

  4. c. The longer term impacts on visitation in light of the unknown social and economic changes that may arise from the pandemic

  5. The impact of a rising National Living Wage and the difficulties in planning for this given the uncertainty over the size of the annual increases.

  6. The declining numbers of visitors to Torbay seen in recent years.

While there is a requirement for continual review and assessment, the trustees consider that the procedures that are in place for risk identification and management are adequate and that actions have been taken to keep risks to an acceptable level.

Financial Risk Management

+LVWRULFDOO\�WKH�FKDULW\¶V�FDSLWDO�SURMHFWV�KDYH�EHHQ�IXQGHG�IURP�UHWDLQed profits with some long-term finance being provided by bank loans. These loans have now been repaid and the current policy of the charity is to fund any new developments from retained profits. During 2019/20 charity borrowed £3 million to cover losses incurred during the COVID pandemic and this loan is repayable over 5.5 years ending August 2026.

New borrowing will only be considered where there is a clear business case and where the Trustees are satisfied that any such borrowing can be serviced without risk to the business.

Seasonal working capital requirements are met from cash reserves and the Charity also carries various insurances against risks which might pose significant threat to the business, such as fire, theft etc.

Key Staff & Remuneration

The Trustees consider that the Board of Trustees and the Chief Executive Officer comprise the key management personnel of the Wild Planet Trust Charity in charge of directing and controlling, running and operating the Charity on a day to day basis. All Trustees give of their time freely and no Trustee received remuneration in the year.

The Trustees determine and agree the overall policy for the remuneration and pension arrangements for all WKH�FKDULW\¶V�HPSOR\HHV�DQG�RYHUVHH�DQG�PDMRU�FKDQJHs to employee benefits. The Charity operates and Equal Pay policy and operates a job evaluation system to ensure that remuneration is fair for all employees. The Charity aims to provide a reward package that is competitive within the sector it operates in although exceptions are permitted where there are justifiable reasons, usually in specific areas of the labour market where skilled workers are in short supply.

The Charity recognises that it should not and does not compete directly with the private sector in terms of remuneration but aspires to provide an overall reward package that is competitive enough to attract and retain KLJK�FDOLEUH�VWDII�ZKR�ZLVK�WR�EH�SDUW�RI�WKH�&KDULW\¶V�ZRUk.

The Key management personnel of the SWEPL subsidiary companies are considered to be the Board of 7UXVWHHV��ZKR�DUH�WKH�&KDULW\¶V�GLUHFWRUV��WKH�Chief Operating Officer and the Senior leadership Team.

Page 22

WILD PLANET TRUST

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

At 31[st] October 2020 the Senior Leadership Team comprised: Executive Director Mr S Tonge Chief Operating Officer Mr D Flynn Director of Finance & HR Mr C Pyne Director of Marketing & Development Ms P Craddock Director of Conservation Ms K Pullen Director of Operations Ms H Warren

The remuneration of the Senior Management Team is reviewed annually and they normally receive an inflationary increase in line with other employees. The remuneration of the Executive Director, the Chief Executive Officer and the Director of Finance & HR is reviewed annually by the Trustees following a review of WKH�SUHYLRXV�\HDU¶V�SHUIRUPDQFH�LQ�D�VHSDUDWH�SURFHVV��5HJXODU�EHQFKPDUNLQJ�LV�DOVR�XQGHUWDNHQ�DJDLQVW� similar positions within the sector.

Off Payroll Working

The charity has introduced a policy on off payroll working and training has been given to managers to enable them to identify possible off payroll issues. Where these situations are identified, procedures are in place to ensure that the charity correctly accounts for all off-payroll workers. In 2019/20 the charity had no such arrangements.

Engagement with Employees

Trustees recognise that that success of the organisation is dependent on the efforts and enthusiasm of the employees and are committed to ensuring that they are fully involved in the running of the business. In order to ensure this Trustees arrange for:

  1. Regular presentations are held for employees to provide updates on current projects/initiatives. These presentations are videos and made available for any employees who may have been unable to attend.

  2. Weekly and monthly newsletters/emails are provided to all employees which provide information on current operational affairs together with ongoing plans and developments

  3. Informal meetings between directors and groups of employees (from all levels) to provide an opportunity for employees to meet leaders in a more relaxed setting to discuss the progress of the organisation

  4. A formal Employee Relations Group with representatives from all areas of the organisations meets quarterly as a minimum. The Chief Executive Office attends the start of these meetings which provide an opportunity to

  5. x update employees on the performance of the organisation and any factors impacting on it,

  6. x review employee wellbeing and initiatives to improve this

  7. x consult with employees on any decision that might impact on them

  8. x listen to any concerns that employees may have

  9. Employees outside of the Senior Team attend Board meetings to brief the Trustees

During the year the organisation regrettably needed to make a number of posts redundant in response to the COVID-19 pandemic. To facilitate this we formed an Employee Representative Group with elections representatives being elected by employees from all areas of the organisation. Detailed discussions were held with the group about the reasons for possible redundancies and how a redundancy process might work.

Page 23

WILD PLANET TRUST

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Directly as a result of these discussions changes were made both to the proposed redundancies and also the methodology adopted for selection.

The Charity is fortunate to have a number of volunteers that assist it in its work in a wide range of activities. In 2020, there were 228 volunteers actively involved across the group contributing a total of 17,984 hours. Without the dedication, skill and enthusiasm of the volunteers and staff much of what has been achieved would not have been possible and the Trustees are grateful for their continued support and dedication.

Safeguarding

Wild Planet Trust operates a Child Protection and Safeguarding policy across all of its sites with designated Child Protection Officers at each site.

The group Safegurding Officer has provided his annual report on Safeguarding in line with our Safeguarding Policy. All new staff receive training in safeguarding as part of their induction training.

No incidents were dealt with by the safeguarding team across the sites in 2019/20.

Structure, Governance and Management

Wild Planet Trust is a registered charity (Number 306622), governed by its Charity Commission Scheme (LT 306,622 A/3 dated 3 September 1991). It is an unincorporated association run by a board of trustees.

Wild Planet Trust owns South West Environmental Parks Limited (SWEPL) which operates Paignton Zoo Environmental Park and Newquay Zoo Environmental Park and uses these names when appropriate. SWEPL is a registered Charity (number 300923) and a Limited Company (number 792877) incorporated 21 February 1964 and governed by its memorandum and articles of association. SWEPL has a sister charity, Living Coasts, (company number 04620880) which is a charity (number 1099076) and operates the Living Coasts exhibit in Torquay. It also has a direct subsidiary, South West Zoo Enterprises Limited, a company (number 02494361), which deals with trading activities at Paignton and Newquay zoos and previously at Living Coasts.

In accordance with the governing document, trustees are appointed to the Board by a majority vote of the existing trustees.

A skills audit of the existing Board is maintained with a target list of expertise and experience; it provides the criteria for future appointments. A recruitment procedure is in place to ensure that any nominees have the expertise and experience that will enhance and benefit the Board and its objectives. It has been used successfully. New trustees are elected to the Board by a vote of the existing trustees.

Training of trustees is reviewed against individual training needs and a full introduction and induction to the charity is given to new trustees upon appointment.

The Board meets approximately eight times a year to review strategy and performance and a number of subcommittees also meet on a regular basis to focus on specific areas. Whilst the trustees are responsible for strategy and policy issues, the day-to-day administration and management of the charity is delegated to the Chief Executive Officer, who reports regularly to the Board. He is assisted by a Secretary and a warden who is responsible for the management of Primley and Clennon Reserves.

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Page 24

WILD PLANET TRUST

(CONTINUED)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 25

WILD PLANET TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILD PLANET TRUST

OPINION

We have audited the financial statements of Wild Planet Trust (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 October 2020 which comprise the Consolidated Statement of Financial Activities, the consolidated balance sheet, the charity balance sheet, the Consolidated 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).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

BASIS FOR OPINION

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

CONCLUSIONS RELATING TO GOING CONCERN

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Page 26

WILD PLANET TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILD PLANET TRUST (CONTINUED)

OTHER INFORMATION

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Page 27

WILD PLANET TRUST

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WILD PLANET TRUST (CONTINUED)

USE OF OUR REPORT

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Munro FCA (Senior Statutory Auditor) For and on behalf of

Bishop Fleming LLP Chartered Accountants Statutory Auditors 2nd Floor Stratus House Emperor Way Exeter Business Park Exeter EX1 3QS

Date: 7/7/2021

Bishop Fleming LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 28

WILD PLANET TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2020

Note
INCOME AND
ENDOWMENTS
FROM:
Donations and
legacies
4
Charitable
activities
5
Other trading
activities
6
Investments
7
Other income
8
TOTAL INCOME
EXPENDITURE
ON:
Raising funds
9
Charitable
activities
10
TOTAL
EXPENDITURE		 Endowment
funds
2020
£
-
-
-
-
-
-
-
-
-		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
700,616
444,502
74,407
5,572,875
-
2,199,603
-
91,063
-
262,569
775,023
8,570,612
-
1,808,260
1,483,191
8,738,651
1,483,191
10,546,911		 Continuing
operations
2020
Discontinued
operations
2020
£
£
1,059,984
85,134
5,524,665
122,617
2,194,612
4,991
91,060
3
262,569
-
9,132,890
212,745
1,808,260
-
9,024,219
1,197,623
10,832,479
1,197,623		 Total
funds
2020
£
1,145,118
5,647,282
2,199,603
91,063
262,569
9,345,635
1,808,260
10,221,842
12,030,102		 Continuing
operations
2019
£
2,313,343
7,404,521
3,843,055
129,482
11,578
13,701,979
2,771,271
8,669,321
11,440,592		 Discontinued
operations
2019
£
(1,356,007)
849,595
12,328
5
335
(493,744)
-
1,192,762
1,192,762		 Total
funds
2019
£
957,336
8,254,116
3,855,383
129,487
11,913
13,208,235
2,771,271
9,862,083
12,633,354

Page 29

WILD PLANET TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2020

NET
(EXPENDITURE
)/INCOME BEF
ORE NET
(LOSSES)/GAIN
S ON
INVESTMENTS
Net (losses)/gains
on investments
NET MOVEMENT
IN FUNDS
RECONCILIATIO
N OF FUNDS:
Total funds
brought forward
Net movement in
funds
TOTAL FUNDS
CARRIED
FORWARD		 Endowment
funds
2020
£
-
-
-
408,293
-
408,293		 Restricted
funds
2020
£
(708,168)
-
(708,168)
2,277,790
(708,168)
1,569,622		 Unrestricted
funds
2020
£
(1,976,299)
(169,645)
(2,145,944)
18,914,850
(2,145,944)
16,768,906		 Continuing
operations
2020
Discontinued
operations
2020
£
£
(1,699,589)
(984,878)
(169,645)
-
(1,869,234)
(984,878)
20,579,511
1,021,422
(1,869,234)
(984,878)
18,710,277
36,544		 Total
funds
2020
£
(2,684,467)
(169,645)
(2,854,112)
21,600,933
(2,854,112)
18,746,821		 Continuing
operations
2019
£
2,261,387
144,903
2,406,290
20,364,733
2,406,290
22,771,023		 Discontinued
operations
2019
£
(1,686,506)
-
(1,686,506)
516,416
(1,686,506)
(1,170,090)		 Total
funds
2019
£
574,881
144,903
719,784
20,881,149
719,784
21,600,933

The Consolidated statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 34 to 57 form part of these financial statements.

Page 30

WILD PLANET TRUST

CONSOLIDATED BALANCE SHEET AS AT 31 OCTOBER 2020

2020
Note
£
FIXED ASSETS
Intangible assets
15
33,097
Tangible assets
16
12,919,737
Investments
17
2,373,750
15,326,584
CURRENT ASSETS
Stocks
18
285,514
330,568
Debtors
19
847,755
639,580
Cash at bank and in hand
6,525,300
5,746,122
7,658,569
6,716,270
Creditors: amounts falling due within one
year
20
(1,601,968)
(1,528,095)
NET CURRENT ASSETS
6,056,601
TOTAL ASSETS LESS CURRENT
LIABILITIES
21,383,185
Creditors: amounts falling due after more
than one year
21
(2,636,364)
TOTAL NET ASSETS
18,746,821
CHARITY FUNDS
Endowment funds
22
408,293
Restricted funds
22
1,569,622
Unrestricted funds
22
16,768,906
TOTAL FUNDS
18,746,821
The
financial
statements
were
approved
and
authorised
for
issue
by
the
_______and signed on their behalf by:
S E Kings
R W J Ford		 2019
£
97,883
13,771,480
2,543,395
16,412,758
5,188,175
21,600,933
-
21,600,933
408,293
2,277,790
18,914,850
21,600,933
Trustees
on

The notes on pages 34 to 57 form part of these financial statements.

Page 31

WILD PLANET TRUST

CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 OCTOBER 2020

2020
Note
£
FIXED ASSETS
Tangible assets
16
8,272,091
Investments
17
2,373,750
10,645,841
CURRENT ASSETS
Debtors
19
12,848
15,847
Cash at bank and in hand
501,592
407,293
514,440
423,140
Creditors: amounts falling due within one
year
20
(13,746)
(17,984)
NET CURRENT ASSETS
500,694
TOTAL ASSETS LESS CURRENT
LIABILITIES
11,146,535
NET ASSETS EXCLUDING PENSION
ASSET
11,146,535
TOTAL NET ASSETS
11,146,535
CHARITY FUNDS
Endowment funds
22
408,293
Restricted funds
22
125,499
Unrestricted funds
22
10,612,743
TOTAL FUNDS
11,146,535
The
financial
statements
were
approved
and
authorised
for
issue
by
the
_______and signed on their behalf by:		 2019
£
8,266,301
2,543,395
10,809,696
405,156
11,214,852
11,214,852
11,214,852
408,293
54,703
10,751,856
11,214,852
Trustees
on

S E Kings

R W J Ford

The notes on pages 34 to 57 form part of these financial statements.

Page 32

WILD PLANET TRUST

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2020

CASH FLOWS FROM OPERATING ACTIVITIES
Net cash (used)/generated in/from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of intangible assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
NET CASH USED IN INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
Cash inflows from new borrowing
Repayments of borrowing
Interest paid
NET CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
The notes on pages 34 to 57 form part of these financial statements		 2020
£
(1,933,678)
178,536
-
-
(479,606)
202,403
(211,649)
(310,316)
3,000,000
-
-
3,000,000
756,006
5,778,259
6,534,265		 2019
£
831,660
129,487
1,800
(7,788)
(659,970)
753,422
(750,739)
(533,788)
-
(64,146)
(203)
(64,349)
233,523
5,544,736
5,778,259

Page 33

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

1. GENERAL INFORMATION

The Charity (registered number 306622) is a registered charity. The registered office address is Totnes Road, Paignton, Devon, TQ4 7EU.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

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

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

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

The consolidated statement of financial activities (SOFA) and consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

2.2 GOING CONCERN

The accounts have been prepared on the going concern basis. The Trustees have considered a period of at least 12 months from the date of approval of the financial statements, and have also assesd various business plans relating to COVID and the reopening of the parks. For further details please see the Trustees' Report.

Page 34

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

2. ACCOUNTING POLICIES (continued)

2.3 INCOME

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

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 GOVERNMENT GRANTS

Government grants relating to tangible fixed assets are treated as deferred income and released to the consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the consolidated statement of financial activities as the related expenditure is incurred.

Page 35

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

2. ACCOUNTING POLICIES (continued)

2.6 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 INTANGIBLE ASSETS AND AMORTISATION

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

The estimated useful lives are as follows:

Amortisation is provided on the following bases:

Computer software - 5 years
Goodwill - 5 years

2.8 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets are initially recognised at cost except certain land and buildings which are included at deemed cost on the transfer to FRS102. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Freehold property -
Leasehold property and - 10 to 50 years
improvements
Motor vehicles - 5 years
Fixtures, fittings and equipment - 5 to 10 years
Other fixed assets -

No depreciation is provided on freehold land and buildings. It is the group's policy to maintain its buildings in such condition that the value is not impaired by the passage of time. As a consequence any element of depreciation would, in the opinion of the trustees, be immaterial and no provision has been made. Those development costs that are considered to have a finite useful life, despite the group's policy to maintain its buildings, have been depreciated over their expected useful life.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Page 36

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

2. ACCOUNTING POLICIES (continued)

2.9 HERITAGE ASSETS

Where heritage assets have been purchased, they are initially recognised at cost. After recognition, under the cost model, heritage assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Assets - Animals

Animals are generally acquired from other zoological organisations without charge, and they are incapable of being reliably valued. Accordingly, no value is attributed to the animals in these financial statements. There were no material purchases or sales of livestock during the current or previous year. Full details of the animals included in the zoos' collections are available in a separate annual report published by the charity.

2.10 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the consolidated statement of financial activities.

2.11 STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.12 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.13 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.14 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

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 rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the consolidated statement of financial activities as a finance cost.

Page 37

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

2. ACCOUNTING POLICIES (continued)

2.15 FINANCIAL INSTRUMENTS

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.16 PENSIONS

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

2.17 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgment:

The useful life of the fixed assets is a key judgement.

Page 38

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

4. INCOME FROM DONATIONS AND LEGACIES

Donations
Legacies
Grants
Government grants
Donations
Legacies
Grants		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
-
441,377
-
-
4,600
-
696,016
3,125
700,616
444,502
Restricted
funds
2019
Unrestricted
funds
2019
£
£
2,000
363,529
-
555,039
10,000
26,768
12,000
945,336		 Total
funds
2020
£
441,377
-
4,600
699,141
1,145,118
Total
funds
2019
£
365,529
555,039
36,768
957,336

As noted in the trustees' report the group benefits notably from the involvement and enthusiastic contributions of volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.

5. INCOME FROM CHARITABLE ACTIVITIES

Operation of the Paignton Zoo
Operation of Newquay Zoo
Operation of Living Coasts
Education
Field conservation and research		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
-
3,990,642
-
1,343,739
-
143,309
-
56,181
74,407
39,004
74,407
5,572,875		 Total
funds
2020
£
3,990,642
1,343,739
143,309
56,181
113,411
5,647,282

Page 39

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

5. INCOME FROM CHARITABLE ACTIVITIES (CONTINUED)

Operation of the Paignton Zoo
Operation of Newquay Zoo
Operation of Living Coasts
Education
Field conservation and research		 Restricted
funds
2019
£
-
-
-
-
76,716
76,716		 Unrestricted
funds
2019
£
5,459,025
1,613,854
740,071
316,930
47,520
8,177,400		 Total
funds
2019
£
5,459,025
1,613,854
740,071
316,930
124,236
8,254,116

6. INCOME FROM OTHER TRADING ACTIVITIES Income from fundraising events

Unrestricted
funds
2020
£
Fundraising
20,851
Events
17,167
Commercial trading operations
2,161,585
2,199,603
7.
INVESTMENT INCOME		 Total
funds
2020
£
20,851
17,167
2,161,585
2,199,603		 Total
funds
2019
£
63,093
24,893
3,767,397
3,855,383
Unrestricted
funds
2020
£
Dividends and interest on listed investments
73,201
Rental income
5,750
Investment income - local cash
12,112
91,063		 Total
funds
2020
£
73,201
5,750
12,112
91,063		 Total
funds
2019
£
95,263
5,750
28,474
129,487

Page 40

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

8. OTHER INCOMING RESOURCES

Other operating income
Other incoming resources		 Unrestricted
funds
2020
£
215,007
47,562
262,569		 Total
funds
2020
£
215,007
47,562
262,569		 Total
funds
2019
£
-
11,913
11,913

9. EXPENDITURE ON RAISING FUNDS FUNDRAISING TRADING EXPENSES

Unrestricted
funds
2020
£
Fundraising costs
4,358
Investment management fees
-
Wages and salaries (including support costs)
13,108
17,466
OTHER TRADING EXPENSES
Unrestricted
funds
2020
£
Cost of sales
818,055
Administration expenses
4,360
Staff costs
968,379
1,790,794		 Total
funds
2020
£
4,358
-
13,108
17,466
Total
funds
2020
£
818,055
4,360
968,379
1,790,794		 Total
funds
2019
£
17,865
11,709
22,788
52,362
Total
funds
2019
£
1,341,219
5,399
1,372,291
2,718,909

Page 41

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Operation of the Parks
Education
Conservation
Operation of the Parks
Education
Conservation		 Restricted
funds
2020
Unrestricted
funds
2020
£
£
782,564
8,612,104
-
361,566
4,611
460,997
1,483,191
8,738,651
Restricted
funds
2019
Unrestricted
funds
2019
£
£
52,448
8,541,675
-
683,274
18,106
566,580
70,554
9,791,529		 Total
funds
2020
£
9,394,668
361,566
465,608
10,221,842
Total
funds
2019
£
8,594,123
683,274
584,686
9,862,083

11. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Operation of the Parks
Education
Conservation		 Activities
undertaken
directly
2020
£
4,286,225
303,473
427,410
5,017,108		 Support
costs
2020
£
5,108,443
58,093
38,198
5,204,734		 Total
funds
2020
£
9,394,668
361,566
465,608
10,221,842

Page 42

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

11. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Operation of the Parks
Education
Conservation		 Activities
undertaken
directly
2019
£
4,511,193
387,836
458,016
5,357,045		 Support
costs
2019
£
4,082,930
295,438
126,670
4,505,038		 Total
funds
2019
£
8,594,123
683,274
584,686
9,862,083

Analysis of support costs

Staff costs
Field conservation and research
Grants and donations
Reserves warden/Primley project costs
Establishment costs
Administration costs
Financial costs
Marketing
Amortisation
Depreciation
Loss on sale of assets
Governance costs
Impairment of assets		 Operation
of the Parks
2020
£
1,758,672
12,419
205,666
3,666
720,325
294,199
266,066
511,723
20,678
399,260
-
8,500
907,269
5,108,443		 Education
2020
£
5,434
2,165
19,736
352
-
5,148
4,770
-
197
-
-
-
20,291
58,093		 Conservatio
n
2020
£
-
-
-
-
18,071
3,010
300
1,656
-
8,453
1,308
5,400
-
38,198		 Total
funds
2020
£
1,764,106
14,584
225,402
4,018
738,396
302,357
271,136
513,379
20,875
407,713
1,308
13,900
927,560
5,204,734

Page 43

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

11. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

Analysis of support costs (continued)

Staff costs
Advertising
Administration costs
Marketing
Establishment costs
Administration costs
Finance costs
Marketing
Amortisation
Depreciation
Governance costs		 Operation of
the Parks
2019
£
1,653,887
27,779
223,200
4,604
669,837
372,976
272,728
407,445
62,141
374,975
13,358
4,082,930		 Education
2019
Conservation
2019
£
£
122,894
77,334
1,706
-
13,713
-
283
-
60,372
4,904
16,177
7,027
24,908
459
30,268
17,865
4,763
-
19,308
7,325
1,046
11,756
295,438
126,670		 Total
funds
2019
£
1,854,115
29,485
236,913
4,887
735,113
396,180
298,095
455,578
66,904
401,608
26,160
4,505,038

Support costs are allocated between raising funds and charitable activities on the basis of numbers of staff, and allocated within charitable activities on the basis of visitor numbers.

12. AUDITORS' REMUNERATION

The auditors' remuneration amounts to an auditor fee of £14,000 ( 2019 - £13,995 ) , and non-audit fees of £3,000 (2019 - £4,775).

13. STAFF COSTS

Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes		 Group
2020
£
5,620,423
380,854
354,364
6,355,641		 Group
2019
£
6,063,903
423,342
357,240
6,844,485		 Charity
2020
£
-
-
-
-		 Charity
2019
£
102,132
-
-
102,132

Page 44

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

13. STAFF COSTS (CONTINUED)

The average number of persons employed by the Charity during the year was as follows:

Group Group Charity Charity
2020 2019 2020 2019
No. No. No. No.
Employees 304 358 6 6

The average headcount expressed as full-time equivalents was:

Raising funds
Operation of the parks
Education
Conservation
Governance		 Group
2020
No.
54
169
12
1
1
237		 Group
2019
No.
72
174
14
8
1
269

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2020 2019
No. No.
In the band £70,001 - £80,000 1 1
In the band £90,001 - £100,000 - 1
In the band £100,001 - £110,000 1 -

The total amount of employee benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel was £410,187 (2019: £405,651).

14. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).

During the year ended 31 October 2020, expenses totalling £299 were reimbursed or paid directly to 3 Trustees (2019 - £1,272 to 4 Trustees) for travelling expenses.

Page 45

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

15.
INTANGIBLE ASSETS
Group
COST
At 1 November 2019
At 31 October 2020
AMORTISATION
At 1 November 2019
Charge for the year
At 31 October 2020
NET BOOK VALUE
At 31 October 2020
At 31 October 2019		 Computer
software
£
96,172
96,172
51,302
11,773
63,075
33,097
44,870		 Goodwill
£
683,075
683,075
630,062
53,013
683,075
-
53,013		 Total
£
779,247
779,247
681,364
64,786
746,150
33,097
97,883

Page 46

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

16. TANGIBLE FIXED ASSETS

GROUP

COST OR VALUATION
At 1 November 2019
Additions
Disposals
At 31 October 2020
DEPRECIATION
At 1 November 2019
Charge for the year
On disposals
Impairment charge
At 31 October 2020
NET BOOK VALUE
At 31 October 2020
At 31 October 2019		 Freehold
property
£
8,322,013
-
-
8,322,013
84,325
6,671
-
-
90,996
8,231,017
8,237,688		 Leasehold
property and
improvements
£
17,009,364
-
-
17,009,364
12,880,210
160,479
-
695,810
13,736,499
3,272,865
4,129,154		 Motor
vehicles
£
373,071
16,859
(6,540)
383,390
277,354
26,782
(5,232)
-
298,904
84,486
95,717		 Fixtures,
fittings and
equipment
£
3,295,858
469,287
-
3,765,145
2,014,242
215,089
-
231,750
2,461,081
1,304,064
1,281,616		 Library
£
27,305
-
-
27,305
-
-
-
-
-
27,305
27,305		 Total
£
29,027,611
486,146
(6,540)
29,507,217
15,256,131
409,021
(5,232)
927,560
16,587,480
12,919,737
13,771,480

Page 47

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

16. TANGIBLE FIXED ASSETS (CONTINUED)

CHARITY

COST OR VALUATION
At 1 November 2019
Additions
Disposals
At 31 October 2020
DEPRECIATION
At 1 November 2019
Charge for the year
On disposals
At 31 October 2020
NET BOOK VALUE
At 31 October 2020
At 31 October 2019		 Freehold
property
£
8,322,013
-
-
8,322,013
84,325
6,671
-
90,996
8,231,017
8,237,688		 Motor
vehicles
£
6,540
16,859
(6,540)
16,859
5,232
3,090
(5,232)
3,090
13,769
1,308		 Fixtures and
fittings
£
6,873
-
-
6,873
6,873
-
-
6,873
-
-		 Library
£
27,305
-
-
27,305
-
-
-
-
27,305
27,305		 Total
£
8,362,731
16,859
(6,540)
8,373,050
96,430
9,761
(5,232)
100,959
8,272,091
8,266,301

Page 48

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

17. FIXED ASSET INVESTMENTS

Group and Charity
COST OR VALUATION
At 1 November 2019
Additions
Disposals
Revaluations
AT 31 OCTOBER 2020
NET BOOK VALUE
AT 31 OCTOBER 2020
AT 31 OCTOBER 2019
18.
STOCKS
Raw materials and consumables
Finished goods and goods for resale
19.
DEBTORS
DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable		 Group
2020
£
17,196
90,191
707,801
32,567
847,755		 Group
2019
£
43,544
59,723
502,876
33,437
639,580		 Group
2020
£
120,386
165,128
285,514
Charity
2020
£
-
6,397
6,451
-
12,848		 Listed
investments
£
2,543,395
211,649
(202,403)
(178,891)
2,373,750
2,373,750
2,543,395
Group
2019
£
104,675
225,893
330,568
Charity
2019
£
7,749
6,087
2,011
-
15,847

Page 49

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 November 2019
Resources deferred during the year
Amounts released from previous periods		 Group
2020
£
363,636
303,608
243,936
41,451
649,337
1,601,968		 Group
2019
£
-
449,992
370,976
44,929
662,198
1,528,095		 Charity
2020
£
-
-
7,880
2,186
3,680
13,746
Group
2020
£
497,817
362,330
(497,817)
362,330		 Charity
2019
£
-
399
7,167
2,603
7,815
17,984
Group
2019
£
493,787
497,817
(493,787)
497,817

21. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Group
2020 2019
£ £
Bank loans 2,636,364 -

During the year, the Group entered into a loan agreement through the Coronavirus Business Interruption Loan scheme. Interest is charged at 1.94% above the base rate. The balance is repayable in monthly installments over five and half years.

The loan is secured with an unlimited debenture from South West Environmental Parks Limited, South West Zoo Enterprises Limited, Living Coasts and Wild Planet Trust; a first legal charge from Wild Planet Trust over the freehold land and buildings at Totnes Road, Paignton, Devon, TQ4 7EU; an omnibus guarantee and set off agreement among the Bank, South West Environmental Parks Limited, Wild Planet Trust and Living Coasts; and an all moneys guarantee from South West Zoo Enterprises Limited.

Page 50

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

22.
STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
Balance at 1
November
2019
£
UNRESTRICTED FUNDS
General Funds
18,914,850
ENDOWMENT FUNDS
Herbert Whitley Esq fund
408,293
RESTRICTED FUNDS
J W Wright Fund
1,319
Primley Lodge Fund
4,406
Education Centre Fund
3,553
Energy Saving Trust Boiler
Fund
20,410
Seagrass Project Fund
5,715
ERDF Redevelopment Fund
807,864
Living Coasts Grants Fund
714,845
Crocodile Swamp Fund
650,000
Solar PV Array Fund
6,188
Forest Schools Fund
324
BIAZA Fund
28,921
Awards For All - Changing
Places
10,000
Ocean Connections - Erasmus
4,945
Coronavirus Job Retention
Scheme
-
Morrisions Quiet Hour
-
Nigeria Elephants
-
Crayfish
10,800
M Coote Orangutans
2,000
Vietnam Civets and Pheasants
6,500
2,277,790
TOTAL OF FUNDS
21,600,933		 Income
£
8,570,612
-
-
-
-
-
8,515
-
-
-
-
-
-
-
-
696,016
4,600
50,000
12,892
3,000
-
775,023
9,345,635		 Expenditure
£
(10,546,911)
-
-
(297)
-
-
-
(26,059)
(714,845)
-
(2,062)
-
(24,037)
(10,000)
(1,961)
(696,016)
(4,600)
-
-
(3,000)
(314)
(1,483,191)
(12,030,102)		 Gains/
(Losses)
£
(169,645)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(169,645)		 Balance at
31 October
2020
£
16,768,906
408,293
1,319
4,109
3,553
20,410
14,230
781,805
-
650,000
4,126
324
4,884
-
2,984
-
-
50,000
23,692
2,000
6,186
1,569,622
18,746,821

Page 51

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

22.
STATEMENT OF FUNDS (CONTINUED)
STATEMENT OF FUNDS - PRIOR YEAR
Balance at
1 November
2018
£
UNRESTRICTED FUNDS
General Funds
18,212,137
ENDOWMENT FUNDS
Main fund reserve
25,486
Revaluation reserve
166,174
Capital reserve
216,633
408,293
RESTRICTED FUNDS
J W Wright Fund
1,319
Primley Lodge Fund
7,863
Education Centre Fund
3,553
Energy Saving Trust Boiler
Fund
20,410
Elephants of OMO forest
reserve Fund
-
Seagrass Project Fund
1,000
M Coote Orangutans
-
Crayfish
-
Vietnam civets
-
Vietnam Pheasants
-
ERDF Redevelopment Fund
833,923
Living Coasts Grants Fund
733,889
Crocodile Swamp Fund
650,000
Solar PV Array Fund
8,438
Forest Schools Fund
324
BIAZA Fund
-
Awards for All - Changing
Places
-
Ocean Connections - Erasmus
-
2,260,719		 Income
£
13,119,519
-
-
-
-
-
-
-
-
11,380
7,500
2,000
10,800
2,500
4,000
-
-
-
-
-
30,497
10,000
10,039
88,716		 Expenditure
£
(12,561,709)
-
-
-
-
-
(3,457)
-
-
(11,380)
(2,785)
-
-
-
-
(26,059)
(19,044)
-
(2,250)
-
(1,576)
-
(5,094)
(71,645)		 Gains/
(Losses)
£
144,903
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 October
2019
£
18,914,850
25,486
166,174
216,633
408,293
1,319
4,406
3,553
20,410
-
5,715
2,000
10,800
2,500
4,000
807,864
714,845
650,000
6,188
324
28,921
10,000
4,945
2,277,790

Page 52

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

22.
STATEMENT OF FUNDS (CONTINUED)
TOTAL OF FUNDS
20,881,149		 13,208,235 (12,633,354) 144,903 21,600,933

Page 53

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

22. STATEMENT OF FUNDS (CONTINUED)

The J W Wright Fund was set up in 1994 out of a legacy specifically bequeathed to provide for the conservation of fish and for fishing. The fund is being used to conduct a study into fish health at Slapton Ley.

The Primley Lodge Fund relates to the proceeds of the sale of Primley Lodge, and is used to defray the costs of repairs and refurbishment of charity property as directed by the charity commissioners.

The Education Centre Fund relates to monies donated for the development of the educational facilities at Paignton Zoo.

The Energy Saving Trust Boiler Fund relates to a grant received for the energy saving boiler at the Crocodile Swamp exhibit.

The remaining restricted funds represent grants and donations received for specific projects.

23. SUMMARY OF FUNDS

SUMMARY OF FUNDS - CURRENT YEAR

Balance at 1 Balance at
November Gains/ 31 October
2019 Income Expenditure (Losses) 2020
£ £ £ £ £
General funds 18,914,850 8,570,612 (10,546,911) (169,645) 16,768,906
Endowment funds 408,293 - - - 408,293
Restricted funds 2,277,790 775,023 (1,483,191) - 1,569,622
21,600,933 9,345,635 (12,030,102) (169,645) 18,746,821
SUMMARY OF FUNDS - PRIOR YEAR
Balance at Balance at
1 November Gains/ 31 October
2018 Income Expenditure (Losses) 2019
£ £ £ £ £
General funds 18,212,137 13,119,519 (12,561,709) 144,903 18,914,850
Endowment funds 408,293 - - - 408,293
Restricted funds 2,260,719 88,716 (71,645) - 2,277,790
20,881,149 13,208,235 (12,633,354) 144,903 21,600,933

Page 54

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

24. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD

Endowment Restricted Unrestricted
Total
funds funds funds
funds
2020 2020 2020
2020
£ £ £
£
Tangible fixed assets 191,660 1,484,760 11,243,317
12,919,737
Intangible fixed assets - - 33,097
33,097
Fixed asset investments - - 2,373,750
2,373,750
Current assets 216,633 84,862 7,357,074
7,658,569
Creditors due within one year - - (1,601,968)
(1,601,968)
Creditors due in more than one year - - (2,636,364)
(2,636,364)
TOTAL 408,293 1,569,622 16,768,906
18,746,821
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD
Endowment Restricted Unrestricted
Total
funds funds funds
funds
2019 2019 2019
2019
£ £ £
£
Tangible fixed assets 191,660 2,208,930 11,370,890
13,771,480
Intangible fixed assets - - 97,883
97,883
Fixed asset investments - - 2,543,395
2,543,395
Current assets 216,634 68,860 6,430,776
6,716,270
Creditors due within one year - - (1,528,095)
(1,528,095)
TOTAL 408,294 2,277,790 18,914,849
21,600,933

Page 55

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

25.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW
ACTIVITIES
Net income/expenditure for the period (as per Statement of Financial
Activities)
ADJUSTMENTS FOR:
Depreciation, amortisation and impairment
Gains/(losses) on investments
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Decrease in stocks
Increase in debtors
Increase/(decrease) in creditors
NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES
26.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
Notice deposits (less than 3 months)
Cash held as part of investment portfolio
TOTAL CASH AND CASH EQUIVALENTS
27.
ANALYSIS OF CHANGES IN NET DEBT
At 1
November
2019
£
Cash at bank and in hand
5,746,122
Debt due within 1 year
-
Debt due after 1 year
-
5,746,122		 FROM OPERATING
Group
Group
2020
2019
£
£
(2,854,112)
719,784
1,396,135
455,138
204,352
(144,903)
(12,112)
(129,284)
-
15,170
45,054
300
(208,174)
(101,379)
(289,764)
16,834
(1,718,621)
831,660
Group
Group
2020
2019
£
£
910,199
1,236,399
5,615,101
4,509,723
8,965
32,137
6,534,265
5,778,259
Cash flows
At 31
October
2020
£
£
779,178
6,525,300
(363,636)
(363,636)
(2,636,364)
(2,636,364)
(2,220,822)
3,525,300

Page 56

WILD PLANET TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

28. CONTINGENT LIABILITIES

In 2005, South West Environmental Parks Limited entered into a 125 year lease with The Council of the Borough of Torbay for land at Beacon Quay, Torquay. Until its closure in the current financial year, this land was occupied by the Living Coasts Coastal Zoo.

Under the terms of the lease, the Company is obliged to pay only a peppercorn rent, however, is responsible for the repair and maintenance of the site, including a sea wall that borders it.

At the date of this report, the directors of the Company are exploring several potential options for the future use of the site, however, none has been agreed.

Given the length of the remaining lease, it is likely that at some point significant repairs will be required to the site, for which the Company is currently responsible. However, the timing and cost of these repairs cannot be reliably estimated, and the directors remain optimistic that the lease will be taken on by a new tenant. As such, no liability has been recognised in the financial statements in respect of this ongoing obligation.

29. PENSION COMMITMENTS

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £354,364 (2019 - £365,418). £26,659 (2019: £28,234) were payable to the fund at the balance sheet date and are included in creditors.

30. RELATED PARTY TRANSACTIONS

The Charity has taken advantage of the exemption in section 33.1A of FRS 102 in not disclosing intragroup transactions where 100% of the voting rights are controlled within the group.

Page 57