Charlty number: 306622 WILD PLANET TRUST TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 Bishop Fleming
WILD PLANET TRUST CONTENTS Page Reference and administrative details of the Charity, Its Trustees and advisers Trustees. report Trustees. responsibilitie5 Statement Independent audltors. report on the financial statements Consolidated statement of financlal activities 10 Consolidated balance sheet Charity balance sheet 12 Consolldatod statement of cash flows 13 Notes to the flnancial statements 14-43
WILD PLANET TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2025 Trustees S E Kings (resigned 9 October 20241 R W J Ford (resigned 2 April 2025) S 8arr BA, Chair A C J Cooper Bsc R Preziosi R Hill BA(Hons) ACA (resigned 11 September 2024) R A Rowe (resigned 27 March 2024) B K McLaughlin (resigned 17 November 2025) M S Salmon (resigned 17 March 2025) A G Hart (resigned 17 March 2025) C Cooper, Chair (resigned 25 September 20251 B Jobson (appoint8d 12 February 2024) J O'Dwyer (appointed 15 April 20241 M Skipp (appointed 11 September 2024) Charlty reglst8red number 306622 Prlncipal offlce Totnes Road TQ4 7EU Chief Executive Officer D J Flynn {resigned 29 May 2024) Chief Executiveofficer S Kings (appointed 1 October 2024) Chlef Operatlng Offl¢er C Rugg {resigned October 2025) Chief Impact Officer S Nash (resigned March 2025) Chief Flnance Offlcer M Skipp (resigned May 20241 Independent auditors Bishop Fleming Audil Limited Chartered Accountants Brook House Winslade Park Manor Drive Clyst st Mary Exeter EX5 1GD Bankers Lloyds Bank plc Paignton Devon Page 1
WILD PLANET TRUST TRUSTEES. REPORT FOR THE PERIOD ENDED 31 MARCH 2025 The Trustees submit their report and the audited financial statements for Wild Planet Trust for the year ended 31 March 2025. The fi'nancial ststements comply with the Charities Act 2011 and Companies Act 2006, the Memorandum and Articles of Association and have been prepared in accordance with the requirements ofthe Statement of Recommended Practice on accounting and reporting for charities IFRS 1021 effective 1st January 2019, including the additional Gontent r8quired for larger charities. STRATEGIC REPORT Our Misslon Wild Planet Trust (the 'Charily"l is an education, scientific and conservation charity that takes action to protect al-risk animals and plants from the impacts of biodiversity1055 through activities designed to help halt species decline. Three core beliefs underpin our work. Every sp8cies is special Everything is connected Every action matters Public Beneflt In setting objectives and planning activities for the yéar, the trustees have given careful consideration to ensuring that the Charity's activities ar8 to the public benefit, and they have had regard to the Charity Commission's guidance on public benefit. Accordingly, the activities at our siles during the last year were for the public benefit and were in accordance with the objects of the Charity. They are.. To advance scièntific knowledge of plants, animals and the natural world. To advance the education of students and the public on the conseNation of the physical and natural world and the promotion of biodiversity. To promote the conservation of the physical and natural environment and th8 maintenance of biological diversity. Our Strateglc Framework Conservation is at the heart of what we do at Wild Planet Trust. Our work provides a lifeline for an ever- growing list of animals and plants that are threatened in the wild and we are committed to playing our part in the global effort to help halt species decline. We have d(e this through.. Providing Safe Havens for endangered species Working Together through Gommunity and project partnerships Taking Action to protect sustainable habitats Conducting Research to advan animal welfare and conservation science Telling people why this work is vital Page 2
WILD PLANET TRUST Safe Havens We have sponsored projects in Nigeria, Tanzania and Zimbabwe. Also, we have sponsored local projects within Devon and Cornwall. Working together Wild Planet Trust owns and manages 5 conservation sites, including the Paignton Zoo 8nd Newquay Zoo with extensive community involvement. Taking action We have worked closely with other accredited zoos, botanical gardens, and conservation partners to ensure that our work makes a difference where it matters most. Conductlng Research We have offered bespoke provision to Higher Education Institutions and academic partners, through course linked teaching and support of research projects that align to our stated airns and assist us in the gathering of robust and meaningful conservation evidence. Telling People We have engaged with our guests, forging emotional connections, and motlvated them to act through the delivery of compelling nature stories. A Year In Figuros A lot81 of 1,210 schools, colleges, and universities vislted Wild Planet Trust Zoos in 202412025. These trips allowed 26,480 pupils to find out about our work A total of 320,437 guests visiled Wild Planet Trust Zoos in 202412025 We can now say with confidence, that a visit to our zoos.. increases a person's sense of connection to nature increas8s a person's feeling of being part of nature increases a person's undèrstanding that they can take action to help nature. FINANCIAL REVIEW The Wild Planet Trust changed its financial year end from 31 October to 31 March 2025, 50 this report incorporates a 17-month trading period from 1 November 2023. In Summary With a change in the Wild Planet Trusts financial year end, from 31 October 2024 to 31 March 2025, the 17- month period under review incorporated two winter seasons. It is a known fact thal winter trading periods are excepts'onally draining on the trusts financial resources due to low visitor numbers, and this is reflected in the poor trading results below. The winter period from 1 November 2023 to 31 March 2024 reflected a deficit of £2,1 m whiGh has been included in the 17-month period trading results. Revenue is largely driven by visitor footfall along with the secondary spend in the retail and catering facilities. Unfortunalely, the prevailing economic climate, coupled with limited financial resources available to upgrade several animal enGlosures, resulted in a reduction in visitor numbers for the period. The resultanl consolidated revenue for the 17-month period was £13.1m compared to the prior year 12- month period of £11,6m. Total expenditure levels for the 17-month period increased to £27,Om, compared to the prior year 12-month period expenditure level of £14,2m due to inflationary pressures and increased zoo operating costs. The Page 3
LD PLANET TRUST period under review includes the cost of staff redundancies, which were deemed necessary as part of a cost reduction program in the third quarter of 2024, at a cost of £0.2m creating a savings in annual staff costs of £1,0m. Funds & Reserves It is the general policy of the Charity to apply towards its charitsble objectives as much funding as it reasonably can, to avoid accumulating eXsSive cash reseNes. Where appropriat8, borrowings are undertaken to fund elements of significant capital projects. With the poor trading results for the period under review, it has unfortunately been necessary for the Charity to utilise its reserves to fund the operations of both the Paignton & Newquay Zoo's. As a result, the reserves fund had been reduced to £1,4m by 31 March 2025. Restricted & Designated Funds Restricted income funds are derived from donations, grants, and legacies receivèd and are put towards a variety of project5. Unrestricted funds may be designated or used freely for the Charities purposes. At 31 March 2025 the Group had total restricted funds of £393k, endowm8nt funds of£408k and unrestricted reserves of £3.1m. STRUCTRE, GOVERNANCE and MANAGEMENT Wild Plan8t Trust is a registered charity (Number 3066221, govemed by Its Charity Commission Scheme (LT 306,622 A13 dated September 1991).11 is an unincorporated association Tun by a board of trustees. A skills audit of the Board is maintained with a target list of expertise and experlence whl¢h provides the criteria for future appointments. Training of trustees is reviewed against individual training n88ds, and a full introduction and induction to th8 Charity is giv6n to new trustees upon appointment. The Board meets regularly throughout the year to review strategy and perfomiance. Whilst the trustees are responsible for the strategy and policy issues, the day-to-day administration and management of the Charity is delegated to the Chief Executive. Taking into consideration the Charities financial situation, the trustees took the decision to search for a potenlial inveslor, to either provide much need funding or alternatively purchase both the zoo's. The trustees employed S&W Partners Group Ltd, an independent specialist financial restructuring company, ané offered the zoos to potential investors. After following a clear and transparent process, and careful consideration of Charily Commission regulations, the trustees decided to sell the zoos to Libema, a Netherlands based investor with vast experience in the management and operations of zoo's in Europe The trust will remain intact, and will continue to as a charity, utilising ils funds to pursue its charitable objectives. S Barr (Chair of Trustees) Date: 2Lld6 Page 4
WILD PLANET TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE PERIOD ENDED 31 MARCH 2025 The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom A¢counting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to Gharities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Group and the Charity and of their incoming reSoUrS and application of resources, including their income and expenditure, for that period. In preparing these financial statements. the Trustees are required to- select suitable accounting policies and then apply them consistently., observe the methods and principles ofthe Charities SORP IFRS 102)., make judgments and accounting estimates Ihat are reasonable and prudent., State whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charitls 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 sponSible 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. Approved by order of the members of the board of Trustees and signed on its behalf by: S Barr (Chair of Trustees) Date: JCLILJI L Born Page 5
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'l for the period ended 31 March 2025 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 Slandard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practi). The financlal statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 1021 in preferencè 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.. give a true and fair view of the stste of the Group's and of the parent charitls affairs as at 31 March 2025 and of the Group's incoming resources and application of resources, including its Income and expenditure for the period then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charitl8s Act 2011. BASIS FOR OPINION We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS {UK)l 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 In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trust8es wth respect to going conr ar& described in the relevant sections of this report. Page 6
WILD PLANET TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WILD PLANET TRUST {CONTINUED) OTHER INFORMATION The other information comprises the information included in the Trustees, Report other than the financial statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained within the Trustees, Report. Our opinion on the financial statements does not cover the other InfOatIOn and, except to the extent olherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this ragard. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We hav8 nothing to report in respect of the following matters where the Charities (Accounts and R8POrtsl Regulations 2008 r8quires us to report to you if, In our opinion: the infomiation given in the Trustees, Report is inconsistent in any material respect with the financial statements., or the parent Charity has not kept sufficient accounting records., or the parent Charity financial statements are not in agreement with the accounting records and returns. or we have not received all the information and explanations we require for our audit. RESPONSIBILITIES OF TRUSTEES 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 lo 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 altemative but to do so. Page 7
WILD PLANET TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WILD PLANET TRUST (CONTINUED) 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 aboul 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 {UKI will always detect a material misstatement when il exists. Mi55tatements can arise from fraud or error and are considered material if, individually or in the aggregate, they Gould reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are InStanS of non-compliance with18ws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are ¢apable of detecting irregularities, including fraud is detailed below.. in assessing the risk of material irregularitie5, including fraud and non-compliance with laws and regulations, we considered the nature of the sector, control environment, and financial perfonnance,. we have considered the results of enquiries with management and the Trustees in relation to their own identification and assessment of the risks of irregularities within the Charity; we have reviewed the documentation of key processes and controls, and performed walkthroughs of transactlons to confimi that the systems are operating in line with documentation., we have obtained and reviewed the Charity's documentation of their policies and procedures relating to.. identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance; detecting and responding lo the risks of fraud and whether they have knowledge of any actU81. suspected, or alleged fraud; the internal ¢ontrols established to mitigate risks of fraud or non-compliance with laws and regulations we have considered the matters discussed among the audit engagement team regarding now and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we have considered the opportunities and incentives that may exist within the Charity for fraud and identified the highest area of risk to be in relation to income recognition. In common with all audits under ISA5 IUKI, we are also required to perform specific procedures to respond to the risk of management override of controls through the use of manual journals. We have also obtained an understanding of the legal and regulatory frameworks that the Charity operates in. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act 2011, Charities SORP 2019, UK Companies Act, UK tax legislation and FRS 102. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamentsl to the Charity's ability to operate or avoid material penalty. These included the Zoo Licensing Act, data protection legislation, food hygiene regulations, health and safety regulations, and employment legislation. Our risks identified for the parent Charity and its subsidiaries, as necessary, included the following.. reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements., enquiring of management and Trustees in relation to actual and potential claims or litigation,. performing analytical procedures to identify unusual or unexpected relationships that may indicale risks of material misstatement due to fraud,. reviewing Executive Board and Trustee meeting minutes- in addressing the risk of fraud through management override of controls, testing the approprialeness of Page 8
WILD PLANET TRUST INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WILD PLANET TRUST (CONTINUED) joumal entries and other adjustments,. assessing whether the judgements made in accounting estimates are indicative of potential bias- and evaluating the business rationale of significant transactions that are unusual or outside the nomial course of business. W8 also communicated identified laws and regulations and potential fraud to all members of the engagement leam and remained alert lo possible indicators of fraud or non-Gompliance with laws and regulations throughout the audit. As a result of the inherent limitations of an audit, there is a risk that not all irregularities, including a material misstatement in the financial statements or non-compliance with regulation, will be detected by us. This risk increases the further removed compliance with a law or regulation is from the events and transactions reflected in the financial statements, given we will be less likely to be aware of it, or should the irregularity occur a5 a result of fraud rather than a one-off error, as this may involve intentional concealment, forgery, collusion, omissions, or misrepresentation. A further description of our responsibiliti8s for the audit of the financial ststements is located on the Financial R8POrting Council's website at: w.frc.0r .uklauditorsres on5ibilities. This description forms part of our Auditors, Report. USE OF OUR REPORT This report is made 501ely to the charity's trustees, as a body, in aGcordance 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 pemiitted 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 fomied. Mark Munro FCA {Senlor statutory auditor) for and on behalf of Bishop Fleming Audit Limited Chartered Accountants statutory Auditors Brook House Winslade Park Manor Drive Clyst st Mary Exeter EX51GD Date.. 2910112026 Bishop Fleming Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 9
WILD PLANET TRUST CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 MARCH 2025 Unrestricted Restrlcted Endowment Total funds funds funds funds Period ended Period ended Period ended Perlod ended 31 March 31 March 31 March 31 March 2025 2025 2025 2025 Total funds Year ended 31 October 2023 Note INCOME AND ENDOWMENTS FROM.. Donations and legacies Charitable activities other trading activitl8S Investments Other income 635,991 8,321,185 3,829,905 107,968 102,376 46,041 27,565 682,032 8,348,750 3,829,905 107,968 112,076 215,326 7,179,906 4,014,372 107,444 45,923 9,700 TOTAL INCOME 12,997,425 83,306 13,080,731 11,562,971 EXPENDITURE ON: Raising funds Charitable aclivitles 3,000,539 23,244,180 3,000,539 23,948,520 2,806,605 11,370,258 10 704,340 TOTAL EXPENDITURE 26,244,719 704,340 26,949,059 14,176,863 NET INCOMEI {EXPENDITUREI BEFORE NET GAINSI {LOSSES) ON INVESTMENTS Net gains on investments (13,247,294) (621,034) (13,868,328) {2,613,892) 361,909 361,909 4,262 NET MOVEMENT IN FUNDS (12,885,385) (621,034) (13,506,419) {2,609,630) RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds TOTAL FUNDS CARRIED FORWARD 14,679,204 (12,885,385) 2.321,762 (621,034) 408,293 17,409.259 20,018,889 (13,506,419) 12,609,630) 22 1,793,819 1,700,728 408,293 3,902,840 17,409,259 The Consolidated Statement of FinanGial Activities includes all gains and losses recognised in the period. The notes on pages 14 to 43 form part of these financial statements. Page 10
WILD PLANET TRUST CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025 31 March 2025 31 October 2023 Not8 FIXED ASSETS Intsngible assets Tangible assets Investments 15 16 17 2,819 3,939,486 1,379,093 43,584 12,974.644 2,387,626 5,321,398 15,405,854 CURRENT ASSETS Stocks 18 250,327 557,834 189,596 414,934 920,931 4,037,436 Debtors Cash at bank and in hand 19 26 997,757 5,373,301 CURRENT LIABILITIES Creditors: amounts falling due within one year 20 {2,416,315) (2,369,897) NET CURRENT LIABILITIES I ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES (1,418,558) 3,003,404 3,902,840 18,409,258 Creditors.. amounts falllng due after more than one year 21 (999,9991 TOTAL NET ASSETS 3,902,840 17,409,259 CHARITY FUNDS Endowment funds Restricted funds Unrestricted funds 22 22 408,293 393,940 408,293 2,321,762 Designated funds General funds 22 22 566,689 14,112,515 3,100.607 Total unrestricted funds 22 3,100,607 14,679,204 TOTAL FUNDS 3,902,840 17,409,259 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: S Barr (Chair of Trustees) Date.. JoJRh IL KJ(knU Y The notes on pages 14 to 43 form part of these financial statements. Page11
WILD PLANET TRUST CHARITY STATEMENT OF FINANCIAL POSITION FOR THE PERIOD ENDED 31 MARCH 2025 31 March 2025 31 October 2023 Note FIXED ASSETS Tangible assets Investments 16 17 2,962,305 1,379,093 7,993,089 2,387,626 4,341,398 10,380.715 CURRENT ASSETS Debtors Cash at bank and in hand 9,415 36,930 19,539 1,082,036 46,345 1,101,575 CURRENT LIABILITIES Creditors: amounts falling due within one y8ar 20 {20,217) (25,675) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 26,128 1,075,900 4,367,526 11,456,615 TOTAL NET ASSETS 4,367,526 11,456,615 CHARITY FUNDS Endowmenl funds Restricted funds Unrestricted funds 22 408,293 65,221 408,293 179,502 22 Designated funds General funds 22 566,689 10,302,131 22 3,894,012 Total unrestricted funds 22 3,894,012 10,868,820 TOTAL FUNDS 4,367,526 11,456,615 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. S Barr (Chair of Trustees) Date". L Eclrn 26 1026. The note5 on pages 14 to 43 form part of these financial ststement5. Page12
WILD PLANET TRUST CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2025 Period ended Year ended 31 March 31 October 2025 2023 Note CASH FLOWS FROM OPERATING ACTIVITIES Net cash used in operating activities 25 (4,202,152) (931,251) 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 Interest receivable 103,844 150,463 49,186 8,534 (5,754) 1476,289) (1,140,344) 3,845,557 843,848 (2,667,913) (941,943) 4,124 50,455 NET CASH PROVIDED BYI(USED IN) INVESTING ACTIVITIES 959,786 {1,136,018) CASH FLOWS FROM FINANCING ACTIVITIES Cash inflows from new borrowing Repayments of borrowing Interest paid 232,328 76,693 {667,603) {545,455) (115,209) (111 ,585) NET CASH USED IN FINANCING ACTIVITIES 1550,4841 {580,347) CHANGE IN CASH AND CASH EQUIVALENTS IN THE PERIOD Cash and cash equivalents at the beginning of the period (3,792,850) 12,647,616) 3,986,234 6,633,850 CASH AND CASH EQUNALENTS AT THE END OF THE PERIOD 26 193,384 3,986,234 The notes on page5 14 to 43 form part of these financial statements Page 13
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 GENERAL INFORMATION The Charity (registered number 3066221 is a registered charity in England and Wales. The registered office address is Tolnes Road, Paignton, Devon, TQ4 7EU. 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 wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been presented for a period longer than one year, and have been prepared for a 17 month period from 1 November 2023 to 31 March 2025. The period end has been amended to better align with teh trading pattems of the Group's zoological parks. As a consequence fo the change, the comparative amounts presentèd in the financial statements (including the related not8s) are not entirely comparable to the results to 31 March 2025. The financial statements hav6 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 fairf view. This departure has involved following the Charities SORP IFRS 1021 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 ils subsidiary undertakings. The results of the subsidiaries are consolidated on a line by line basis. 2.2 GOING CONCERN In accordance with the requirements of applicable accounting standards and best practice for charities, the Board of Trustees has assessed the ability of the organisation to continue as a going concern. This assessment considers all available information about the future, the possible outcomes of events and changes in conditions, and the realistic responses to such events and conditions that are available to the organisation. Based on the review of the current financial posilion, anticipated future cash flows, and the organisation's ongoing activities, the Board is satisfied that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis. No material uncertainties have been identified that may cast significant doubt upon the charity's ability to continue as a going concern. The Board will continue to monitor the organisation's financial position and perfomiance, and will take appropriate actions as Gircumstances require. It is therefore the opinion of the Trustees that the use of the going concern basis of accounting is appropriate in the preparation of these financial statements. Page 14
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ACCOUNTING POLICIES (continued) 2.3 POST BALANCE SHEET EVENTS Subsequent to the balance sheet date, the charity has completed the sale of certain properties previously held as part of its asset portfolio. The proceeds from these sales will be recognised in the next financial period. There were no indications at year end that would have required adjustment to the carrying value of these properties as at the balance sheet date. In addition, after the year end, the charity's subsidiary South West Environmental Parks Limited Gompleted the sale of the assets and transfer of operations of two zoological parks. The disposals were finali5ed through agreement with the same party acquiring the properties, and the related income and expenditure will be reflected in the subsequent financial statements. The charity has assessed the impact of these disposals and determined that there are no conditions requiring adjustment to the financial statements as at year end. Furthermore, subsequent to the year end, the charity agreed to waive intercompany balances owed by South West Environmental Parks Limited. These waivers were formalised after the balance sheet date and do not affect the financial position reported as at 31 March 2025. At the date of the waiver, South West Environmental Parks Limited owed Wild Planet Trust £2,297,822 and South West Zoo Enterprises Limited £1,006,634. The waivers were made to simplify the group structure and support the ongoing operations of the subsidiaries. Management has considered the implications of these post balance sheet events and is satisfied that the charity remains a going concern, with adequate resourGes to continue its operations for the foreseeable future. These events do not require adjustment to the financial statements for the period ended 31 March 2025, but are disclosed to provide users of the financial statements with information relevant to the charity's flnancial position and future activities. 2.4 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 inGome 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 8 gift has been left to them (through knowlèdge 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 satlsfy 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 Gharity, can be reliably measured. Grants are included in the Consolidated St3tement of Financial Aclivities on a receivable basls. 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 tsx recoverable in relation to investrnent income is recognised at the time the investment income is receivable. other income is recognised in the period in which it is CeiVable and to the extent the goods have been provided or on completion of Ihe service. Page 15
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ACCOUNTING POLICIES (contlnued) 2.5 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 ass8t'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-charilable 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 indusive of irrecoverable VAT. 2.6 GOVERNMENT GRANTS Govemment revenue grants are credited to the Consolidated Statement of Financial Activities as the related expenditure is incurred. 2.7 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. 2.8 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 15 provided on intangible assets at rates calculated to write off the cost of each asset on a slraight-line basis over its expected useful life. The estimated useful lives are as follows.. Computer software 5 years 2.9 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accurnulated depreciation and any accumulated impaimient losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Page 16
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ACCOUNTING POLICIES (contlnued) 2.9 TANGIBLE FIXED ASSETS AND DEPRECIATION (CONTINUED) 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.. 50 years, except for land not depreciated 10 to 50 years Freehold property Leasehold property and improvements Motor vehicles 5 years Fixlures, fittings and equipment 5 to 10 years Assets under construction Not depreciated Library Not depreciated The asset5, residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a sSgnificant change since the last reporting dat8. 2.10 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 detalls of the animals included in the zoos, collections are available In a separate annual report published by the Charity. 2.11 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 wmbined and presented as 'Gainsl{Lossesl on investments, in the Consolidated Statement of Financial Activities. 2.12 STOCKS stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete 8nd slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.13 DEBTORS Trade and other debtors are recognised at the setUem8nt amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.14 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. Page 17
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 ACCOUNTING POLICIES (continued) 2.15 LIABILITIES AND PROVISIONS Liabilities are recognised when there is an obligation at the Balance Sheet date as a r&sult 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 a5 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 al the pre-tax discount rate that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the Con501idated Statement of Financial Activities as a finance cost. 2.16 FINANCIAL INSTRUMENTS The Group only h8s financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which ar8 subsequently measured at amortlS8d cost using th8 effective interest method. 2.17 OPERATING LEASES Rentals paid under operating leases are charged lo the Consolidated Statement of Financlal Activities on a straighl-line basis over the lease temi. 2.18 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. 2.19 FUND ACCOUNTING General funds are unreslricled funds whiGh are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have nol been designated for other purposes. Designated funds comprise unreslricled funds Ihal have been set aside by the Truslees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 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. Page18
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 CRrricAL 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 rnakes 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 judgment and has been made based on management's knowledge of the assets held. The carrying value of property and any impairment recogni5ed is a key judgement and has been made based on management's knowledge of the assets held, external valuations undertaken and post-year end disposals. INCOME FROM DONATIONS AND LEGACIES Unrestrlcted Restrlcted funds funds Period Period ended ended 31 March 31 March 2025 2025 Total funds Period ended 31 March 2025 Donations Legacies 44,909 591,082 44,909 637,123 46,041 635,991 46,041 682,032 Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 October 31 October 31 October 2023 2023 2023 Donations Grants 160,867 160,867 54,459 54,459 160,867 54,459 215,326 In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. Page 19
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restricted funds funds Period Period ended ended 31 March 31 March 2025 2025 Total funds Period ended 31 March 2025 Operation of the Paignton Zoo Operation of Newquay Zoo Operation of Living Coasts Education Field conservation and research 6,086,392 1,847,675 14,262 267,579 105,277 6,086,392 1,847,675 14,262 267,579 132,842 27,565 8,321,185 27,565 8,348,750 Unrestricted Restricted Total funds funds funds Year ended Year ended Year ended 31 October 31 October 31 October 2023 2023 2023 Operation of the Paignton Zoo Operation of Newquay Zoo Operation of Living Coasts Education Field Conservation and research 5,146,884 1,690,134 108,937 125,960 50,319 5,146,884 1,690,134 108,937 125,960 107,991 57,672 7,122,234 57,672 7,179,906 Page 20
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 INCOME FROM OTHER TRADING ACTIVITIES Income from fundraising events Unrestrlcted funds Period ended 31 March 2025 Total funds Total Period funds ended Year ended 31 March 31 October 2025 2023 Fundraising Events 2,258 15,436 2,258 15,436 86,714 24,311 17,694 17,694 111,025 Income from non charitsble trading actlvities Unrestrlcted funds Perlod ended 31 March 2025 Total funds Totsl Perlod funds ended Y8ar ended 31 March 31 October 2025 2023 Commercial trading operations 3,812,211 3,812,211 3,903,347 INVESTMENT INCOME Unrestricted funds Perlod ended 31 March 2025 Total funds Totsl Period funds ended Year ended 31 March 31 October 2025 2023 Dividends and inter8St on listed investments Rental income Investment income Interest receivable 79,670 8,490 15,684 4.124 79,670 8,490 15.684 4,124 49,186 5,620 50,455 2.183 107,968 107,968 107,444 Page 21
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 OTHER INCOMING RESOURCES Unrestricted Restricted funds funds Period Period ended ended 31 March 31 March 2025 2025 Total funds Perlod anded 31 March 2025 Other incoming r8sources 102,376 9,700 112,076 Unrestricted Total funds funds Year ended Y8ar ended 31 October 31 October 2023 2023 Other incoming resources 45,923 45,923 Page 22
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 EXPENDITURE ON RAISING FUNDS FUNDRAISING TRADING EXPENSES Unrestricted funds Period ended 31 March 2025 Total funds Total Period funds ended Year ended 31 March 31 October 2025 2023 Fundraising costs Wages and salaries {including support costs) 6,232 20,096 6,232 20,096 50 26,328 26,328 50 OTHER TRADING EXPENSES Unrestrlcted funds Perlod ended 31 March 2025 Total funds Total Perlod funds ended Year ended 31 March 31 October 2025 2023 Cost of sales Administration expenses Staff costs 1,589,046 15,405 1,369,760 1,589,046 15,405 1,369,760 1,544,902 11,894 1,249,759 2,974,211 2,974,211 2,806,555 Page 23
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 10. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Summary by fund type Unrèstrlcted Restrlcted funds funds Perlod Perlod ended ended 31 March 31 March 2025 2025 Total Period ended 31 March 2025 Operation of the Parks Education ConseNation 21,487.982 385,802 1.370,396 691,478 22,179,460 385,802 1,383,258 12,862 23,244,180 704,340 23,948,520 Unr8Stricled Restricted funds funds Total Year ended Year ended Year ended 31 October 31 October 31 October 2023 2023 2023 Operation of the Parks Education Conservation 9,976,063 317,628 917,646 137,424 10,113,487 317,628 939,143 21,497 11,211,337 158,921 11,370,258 11. ANALYSIS OF EXPENDITURE BY ACTIVITIES Activlties undertaken dlrectly Perlod ended 31 March 2025 Support costs Period ended 31 March 2025 Total funds P8rlod ended 31 March 2025 Operation of the Parks Education Conservation 6,672,940 15,506,520 22,179,460 385.802 385,802 777,700 1,383,258 605,558 7,836,442 16,112,078 23,948,520 Page 24
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 11. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) Activities undertaken Support Total directly costs funds Year ended Year ended Yèar ended 31 October 31 October 31 October 2023 2023 2023 Operation of the Parks Education Conservation 4,956,189 317,628 555.348 5,157,298 10,113,487 317,628 939,143 383,795 5,829,165 5,541,093 11,370,258 ANALYSIS OF SUPPORT COSTS Operation of th8 Parks Period Conservatlon ended Perlod ended 31 March 31 March 2025 2025 Total funds Period ended 31 March 2025 Staff costs Impairment of assets Field conservation and research Grants and donations Establishment costs 2,866,556 8,228,028 19,816 718,486 1,384,454 328,888 652,710 452,554 22,487 758,916 13,890 14.171 45.564 2,866,556 8,228,028 19,816 718,486 1,447,039 338,440 654,108 471,030 22,487 1,258,673 27,680 14,171 45,564 62,585 9,552 1,398 18,476 Administration costs Finance costs Marketing Amortisation Depreciation Governance costs Finance lease interest Maintenance of Living Coasts site 499,757 13,790 15,506,520 605,558 16,112,078 Page 25
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 11. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS (continued) Operation of the Parks Year ended 31 October 2023 Total Conservatlon funds Year ended Year ended 31 October 31 October 2023 2023 Stsff costs Field conservation and research Grants and donations Establishment costs Administration costs Finance costs Marketing Amortisation Depreciation Governance costs Maintenance of Living Coasts site 2,045.316 6,956 385,747 868,529 242,619 569,973 417,951 18,234 468,276 11,650 122.047 2,045,316 6,956 385,747 892,787 253,418 570,360 420,539 18,234 805,739 19,950 122,047 24,258 10,799 387 2,588 337,463 8,300 5,157,298 383,795 5,541,093 Support cosls are allocated between raising funds and charitable activities on the basis of numbers of stsff. and allocated within charitable activities on the basis of visitor numbers. 12. AUDITORS, REMUNERATION The auditors, remuneration amounts to an auditor fee of £32,800 (2023 - £20,900), and non-audit fees of of £2,500 (2023- £6,450). Page 26
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 13. STAFF COSTS Group Period Group ended Year ended 31 March 31 October 2025 2023 Charlty Period Charity ended Year ended 31 March 31 OGtober 2025 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 8,018,619 722,906 8,326.004 506,828 221,993 21,025 102,622 10,000 551,323 410,790 11,446 4,703 9,292,848 7,243,622 254,464 117,325 Included within wages and salaries are staff restructuring costs for the Group amounting to £196,779 12023- £166,812). The average number of persons employed by the Charity during the period was as follows.. Charfty Period Charity ended Year ended 31 March 31 October 2025 2023 No. No. Group Perlod Group ended Year ended 31 March 31 October 2025 2023 No. Operatlon of parks 189 147 The number of employees whose employee benefits (excluding employer pension Costs) exceeded £60,000 was: Group Period Group ended Year ended 31 March 31 October 2025 2023 In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £110,001- £120,000 In the band £160,001- £170,000 All Trustees and the CEOlsenior leadership team are considered to be key management personnel. The total amount of employee benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for the Group was £686,444 for 11 personnel12023'. £385,843 for six personnel). 14. TRUSTEES. REMUNERATION AND EXPENSES During the period. no Trustees received any remuneration or other benefits (2023 - £NIL). Page 27
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 14. TRUSTEES. REMUNERATION AND EXPENSES (CONTINUED) During the period ended 31 March 2025, expenses totalling £NIL were reimbLtrsed or paid directly to no Trustees (2023 - £515 to 3 Trustees). 15. INTANGIBLE ASSETS GROUP Intangible Assets in Develop- ment Computer softwar8 Total COST At 1 November 2023 Disposals 5,754 {5,754) 151,697 157,451 (5,754) At 31 March 2025 151,697 151,697 AMORTISATION At 1 November 2023 Charge for the year Impairment charge 113,867 22,487 12,524 113,867 22,487 12,524 At 31 March 2025 148,878 148,878 NET BOOK VALUE At 31 March 2025 2,819 2,819 At 31 October 2023 5,754 37,830 43,584 Page 28
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WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 16. TANGIBLE FIXED ASSETS (CONTINUED) CHARITY Assets Motor under vehicles construction Freehold property Library Total COST OR VALUATION At 1 November 2023 Additions Disposals Transfers beeen class8S 8,202,013 20,410 (680,000) 198,547 16,859 198,547 27,305 8,444,724 20,410 (680,000) (198,547) At 31 March 2025 7,740,970 16,859 27,305 7,785,134 DEPRECIATION At 1 November 2023 Charge for th8 perlod Impairment charge 438,429 492,732 3,874,809 13,206 3,653 451,635 496,385 3,874,809 At 31 March 2025 4,805,970 16,859 4,822,829 NET BOOK VALUE At 31 March 2025 2,935,000 27,305 2,962,305 At 31 October 2023 7,763,584 3,653 198,547 27,305 7,993,089 During the period £198,547 of assets had completed construction within the Group, which has led to a reclassification between Assets under conlruction and Freehold property. The trustees have assessed the carrwng value of properties held by the group for potential impairment. A5 a result, an impairment charge of £6,879,568 has been made. This is made up of an impairment charge of £3,874,809 in the charity and an impairment of £4,340,695 in subsidiary entities. Page 30
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 17. FIXED ASSET INVESTMENTS Listed Unlisted investments Investments Total GROUP AND CHARITY COST OR VALUATION At 1 November 2023 Additions Disposals Revaluations 2,265,450 2,667,913 (3,845,557) 160,015 131,272 2,396,722 2,667,913 (3,845,557) 160,015 AT 31 MARCH 2025 1,247,821 131,272 1,379,093 NET BOOK VALUE AT 31 MARCH 2025 1.247,821 131,272 1,379,093 AT 31 OCTOBER 2023 2,265,450 131,272 2,396,722 The Charity has a 100°/. holding of its subsidiary South West Environmental Parks Limited (SWEPL) (company number 00792877, charity numbér 300923) which has been included within these consolidated accounts. Its registered office is the same as the Charity. SWEPL had expenditure of £19,197,355 over income of £10,898,304 resulting in a deficit of £8,299,051 for the year. SWEPL'S net liabilities at the year end were E3,063,182. SWEPL has a 100)A holding of its subsidiary South West Zoo Enterprises Limited ISWZELI {Gompany number 024943611 which has been included within these consolidated accounts. Its registered office is the same as the Charity. SWZEL had expenditure of £3,841,611 over income of £3,812,211 resulting in a defiGit of £25,276 for the year. SWZEL'S net liabilities at the year end were £25,274. 18. STOCKS Group Group 31 March 31 October 2025 2023 Raw materials and consumables Finished goods and goods for resale 89,315 161,012 82,561 332,373 250,327 414,934 Page 31
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 19. DEBTORS Group Group 31 March 31 October 2025 2023 Charlty Charity 31 March 31 October 2025 2023 DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued income Tax recoverable 92,438 194,756 238,975 31,665 28,939 52,480 750,572 88,940 1,500 7,915 10,480 9,059 557,834 920,931 9,415 19,539 20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group Group 31 March 31 October 2025 2023 Charlty Charity 31 March 31 October 2025 2023 Bank overdrafts Bank loans Trade creditors Other taxation and social securlty Other creditors Accruals and deferred income 283,530 954,544 568,767 153,723 67,957 387,794 51,202 622,148 616,719 485,196 90.875 503,757 3,380 5,229 10,184 8,091 116 7,284 11,608 2,416,315 2,369,897 20,217 25,675 Group Group 31 March 31 October 2025 2023 Deferred income at 1 November 2023 Resources deferred during the period Amounts released from previous periods 347,601 334,770 245,065 347,601 (347,601) (334,770) 245,065 347,601 Deferred income relates to annual pass admission income relating to future periods. Page 32
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 21. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Group Group 31 March 31 October 2025 2023 Bank loans 999,999 During 2020, the Group ented into a loan agreement through the Coronavirus Business Interruption Loan scheme. Interest is charged at 1.94010 above the base rate. The balance is repayable in monthly instalments 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 Environmentsl Parks Limited, Wild Planet Trust and Living Coasts., and an all monies guarantee from South West Zoo Enterprises Limited. Page 33
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 22. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT PERIOD Balance at 1 November 2023 Balance at 31 March 2025 Transfèrs inl(out) Gainsl (Losse5) Income Expenditure UNRESTRICTE D FUNDS DESIGNATED FUNDS Digital Transformation 566,689 (566,689) GENERAL FUNDS General Funds 14,112,515 12,997,425 (24,937,931) 566,689 361,909 3,100,607 TOTAL UNRESTRICT ED FUNDS 14,679,204 12,997,425 (24,937,931) 361,909 3,100,607 ENDOWMENT FUNDS Herbert Whilley Esq fund 408,293 408,293 Page 34
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 22. STATEMENT OF FUNDS (CONTINUED) Balance at 1 November 2023 Balance at 31 March 2025 Transfers Inl(out) Gain$1 (Losses) Income Expenditure RESTRICTED FUNDS J W Wright Fund Education Centre Fund Energy Saving Trust Boiler Fund Elephants of Omo Forest Reserve Fund Seagrass Project Fund M Coote Orangutans Crayfish Fund Vietnam Civets and Phèasants Fund ERDF Redevelopmen t Fund Crocodile Swamp Fund Forest Schools Fund Other Restricted Funds Care and Conservation of Large Cats Sumatran Tigers NQY Penguins 1,319 (1,319) 3,553 (3,553) 20,410 120,4101 128,932 6,995 (78,541) 57,386 12,762 16,570 (25,497) 3,835 6,121 2,405 4,000 (6,121) (2,405) 4,000 4,000 (4,0001 703,628 9,700 1657,135) 56,193 650,000 (530,560) 119,440 324 {324) 2,000 2,000 731,849 10,000 44,459 1613,267) 118,582 10,000 22,504 46,041 (67,996) 2,321,762 83,306 {2,011,128) 393,940 TOTAL OF FUNDS 17,409.259 13,080,731 (26,949,059) 361,909 3,902,840 Page 35
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 22. STATEMENT OF FUNDS (CONTINUED) Endowment funds Herbert Whitley Esq Fund This endowment consists of properties bequeathed by Herbert Whitley Eqs and is made up of a main fund reserve (the cost of endowment assets still held, being £25,486),. the revaluation reserve (the gains on the revaluation of such assets, being £166,174),. and the capital reserv8 (the proceeds of endowed assets now sold, being £216,633). Restricted funds J W Wright Fund - This fund was set up in 1994 out of a legacy specifically bequeathed to provide for the conservation of fish and for fishing. The fund 15 being used to conduct a study into fish health at Slapton Ley.. Education Centre Fund This repres8nts the monies donat8d for the development of the educational faciliti8s at Paignton Zoo. Energy Saving Trust Boiler Fund - This represents funding of a grant received for the energy saving boiler at the Crocodile Swamp exhibit. Elephants of Omo Forest Reserve Fund This represents a legacy received towards the conservation of elephants in Nigeria through habitat protection, monitoring and environmental education. Seagrass Project Fund This represents a fund recelved towards divers monitorfng six seagrass meadows M Coote Orangutans - Crayfish Fund This represents funding received to assist the conservation of endangered white-clawed crayfish in Devon's rivers. Vietnam Civets and Pheasants Fund - ERDF Redevelopment Fund and Crocodile Swamp Fund This represents funding received for redevelopment of sites and exhibits at Paignton Zoo. Forest Schools Funds - This represents funding to support outdoor educational learning. Care and Conservations of Large Cats This represents legacy income received to assist with the care and conservation of large cats. other restricted amounts represent funds received for a specifiG purpose and can only be used under particular conditions. Sumantran Tigers This presents legacy income that has been restricted for the conservation of tigers, specifically focussing on Sumantran Tiger species. NQY Penguins - This represents legacy income restricted forthe conservation of penguins. Other restricted amounts represent funds received for a specific purpose and can onnly be used under particular conditions. Page 36
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 22. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR PERIOD Balance at 1 November 2022 Balance at Gainsl 31 October {Lossesl 2023 Transfers inlout Income Expenditure UNRESTRICTE D FUNDS DESIGNATED FUNDS Digital Transformation 566,689 (566,689) GENERAL FUNDS General Funds 16,675,355 11,450,840 (14,017,942) 566,689 4,262 14,679,204 TOTAL UNRESTRICT ED FUNDS 17,242,044 11,450,840 (14,017,942) 4,262 14,679,204 ENDOWMENT FUNDS Herbert Whitley Esq fund 408,293 408,293 RESTRICTED FUNDS J W Wright Fund Education Centre Fund Energy Saving Trust Boiler Fund Elephants of Omo Forest Reserve Fund Seagrass Project Fund M Goote Orangutans Crayfish Fund Vietnam Civets and Pheasants Fund ERDF Redevelopmen t Fund 1,319 1,319 3,553 3,553 20,410 20,410 155,657 26,368 (53.093) 128,932 11,958 12,304 (11,500) 12,762 2,739 2,771 4,000 15,000 (618) (15,366> 6,121 2,405 4,000 4,000 755,746 {52.118) 703,628 Page 37
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 22. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR PERIOD (CONTINUED) Balance at 1 November 2022 Balance at Gainsl 31 October (Losses) 2023 Transfers inlout Income Expenditure Crocodile Swamp Fund Solar PV Array Fund Forest Schools Fund Covid-19 Grant Other Restricted Funds 650.000 650,000 2,063 {2,063) 324 12,000 324 112,000) 2,000 2.000 Care and Conservation of Large Cats Sumatran Tiger5 NQY Penguins 744,012 (12,1831 731,849 10,000 44.459 10,000 44,459 2,368,552 112,131 1158,9211 2,321,762 TOTAL OF FUNDS 20,018,889 11,562,971 (14,176,863) 4,262 17,409,259 Page 38
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 23. SUMMARY OF FUNDS SUMMARY OF FUNDS - CURRENT PERIOD Balance at 1 November 2023 Balance at 31 March 2025 Transfers Inlout Galnsl (Losses) Income Expendlture Designated funds General funds Endowment funds Restricted funds 566,689 14,112,515 12,997,425 (24,937,931) (566,689) 566,689 361,909 3,100,607 408,293 2,321,762 408,293 393,940 83,306 (2,011,128) 17,409,259 13,080,731 (26,949,059) 361,909 3,902,840 SUMMARY OF FUNDS - PRIOR PERIOD Balanc8 at 1 November 2022 Balance at Gainsl 31 October (Losses) 2023 Transfers inlout Income Expenditure Designated funds General funds Endowment funds Restricted funds 566,689 16,675,355 11,450,840 (14,017,942) (566,689) 566,689 4,262 14,679,204 408,293 2,368,552 408,293 2,321,762 112,131 (158,921) 20,018,889 11,562,971 114,176,863) 4,262 17,409,259 24. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT PERIOD Unrestricted Restricted Endowment funds funds funds 31 March 31 March 31 March 2025 2025 2025 Total funds 31 March 2025 Tangible fixed assets Intangible fixed assets Fixed asset investments Current assets Creditors due within one year 3.453,641 2,819 1,379,093 681,369 {2,416,315) 294,185 191,660 3,939,486 2,819 1,379,093 997,757 (2,416,315) 99,755 216,633 TOTAL 3,100,607 393,940 408,293 3,902,840 Page 39
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 24. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED) ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD Unrestrtcted funds 31 October 2023 Restricted Endowment funds funds 31 October 31 Octob8r 2023 2023 Total funds 31 October 2023 Tangible fixed assets Intangible fixed assets Fixed asset investments Current ass&ts Creditors due within one year Creditors due in more than one year 11,388,631 43,584 2,387,626 4,229,259 (2,369,897) {999,999) 1,394,353 191,660 12,974,644 43,584 2,387,626 5,373,301 12,369,897) (999,999) 927,409 216,633 TOTAL 14,679,204 2,321,762 408,293 17,409,259 25. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES Group Period Group ended Year ended 31 March 31 October 2025 2023 Net expenditure for the period las per Statement of Financial Activities) (13,506,419) 12,609,630) ADJUSTMENTS FOR: Depreciation and impairment Amortisation charges Lossesl{gainsl on investment5 Dividends, interests and rents from investments Interest receivable Decreasel(increasel in stocks Decreasel(increase) in debtors {Decrease)lincrease in Greditors Proceeds from the sale of tangible fixed assets Interest payable 9,483,329 35,011 {108,813) (103,844) 14,124) 164,607 363,097 (494,795) (150,463) 120,262 805,739 18,234 93,833 {49,1861 (50,455) 35,464 362,780 349,777 (8,534) 120,727 NET CASH USED IN OPERATING ACTIVITIES {4,202,152) (931,251) Page 40
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 26. ANALYSIS OF CASH AND CASH EQUIVALENTS Group Group 31 March 31 October 2025 2023 Cash in hand Notice deposits (less than 3 months) Cash held as part of inveslment portfolio 139,200 50,396 3,788 430,661 3,521,813 33,760 TOTAL CASH AND CASH EQUIVALENTS 193,384 3,986,234 27. ANALYSIS OF CHANGES IN NET DEBT At1 November 2023 Cash flows Other non- cash At 31 March changes 2025 Cash at bank and in hand Bank overdrafts repayable on demand Debt due within 1 year Debt due after 1 year 4,037,436 (3,847,840) {51,202) 1232,328) 1622,148) 1999,999) 189,596 (283,530) (332,3961 (954,544) 999,999 2,364,087 14,080,168 667,603 (1,048,478) 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 2020, 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 partially responsible for the repair and maintenance of the sit8, including a sea wall that borders it. 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 cuentlY partially responsible. However, the timing and cost of these repairs cannot be reliably estimated. Following the year end, an agreement has been signed with a new tenant for the Living Coasts site. However, the Company remains a party to the lease, and, therefore, has some ongoing obligations. Page 41
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 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 £551,323 12023: £410,790). £64,191 (2023.. £78,334) were payable to the fund at the Balance Sheet date and are included in creditors. 30. OPERATING LEASE COMMITMENTS At 31 March 2025 the Group and the Charity had commitment5 to make future minimum lease payments under non-cancellable operating leases as follows.. Group Group 31 March 31 October 2025 2023 Not later than 1 year Later than 1 year and not later than 5 years 7,668 16,183 9,912 27,240 23,851 37,152 The following lease payments have been recognised as an expense in the Statement of financial a¢tlvities'. Group Group 31 March 31 October 202S 2023 Operating lease r8ntals 13,282 9,466 31. RELATED PARTY TRANSACTIONS During the year, the charity made transactions totalling £6,564,962 to South West Environmental Park5 Limited, the Charity's subsidiary, and received transactions lotalling £6,064,702. At the year end there is a balance of £1,897,821 in debtors relating to these transactions. During the year, the Charity also made transactions of £850,000 to South West Zoo Enterprises Limited, the Charitls subsidiary, and received transactions totalling £850,000. At the year end, there is a balance of £400,000 in debtors relating to these transactions. During the year, the Charily also incurred Costs of £4,881 and recelved no income on behalf of Living Coasts, a dormant subsidiary. The balanS relating to the outslanding debtors have been provided for in the accounts. Page 42
WILD PLANET TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 32. POST BALANCE SHEET EVENTS Subsequenl to the balance sheet date, the charity has completed the sale of certain properties previously held as part of its asset portfolio. The proceeds from these sales will be recognised in the next financial period. There were no indications at year end that would have required adjustment to the carrying value of these properties as at the balance sheet date. In addition, after the year end, the charity's subsidiary South West Environmental Parks Limlted completed the sale of the assets and transfer of operations of two zoological parks. The disposals were finalised through agreement with the same party aGquiring the properties, and the related income and expenditure will be reflected in the subsequent financial statements. The charity has assessed the impact of these disposals and determined that there are no conditions requiring adjustment to the financial statements as at year end. Furthermore, subsequent to the year end, the charity agreed to waive intercompany balances owed by South West Environmentsl Parks Limited. These waivers were formalised after the balance sheet date and do not affect the financial position reported as at 31 March 2025. At the date of the waiver, South West Environmental Parks Limited owed Wild Planet Trust £2,297,822 and South West Zoo Enterprises Limited £1,006,634. The waivers were made to simplify the group structure and support the ongoing operations of the subsidiaries. Management has considered the implications of these post balance sheet events and is satisfied that the charity remains a going concern, with adequate resources to continue its operations for the foreseeable future. These events do not require adjustment to the financial statements for the period ended 31 March 2025, but are disclosed to provide users of the financial statements with information r81evant to the charity's financial posltion and future activities. Page 43