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2020-12-31-accounts

Twycross Zoo - East Midland Zoo - East Midland Zoological Society Limited Zoological Society Limited
Co No: 1060956
Registered Charity No: 501841 Year ended 31December 2020
CONTENTS PAGE
Administration, Officers and Advisors
Report ofthe Trustees
Statement of Trustees' Responsibilities 14
Independent Auditors Report to the Members
Consolidated Statement of Financial Activities 18
Consolidated Group and Company
Balance Sheet		 19
Consolidated Statement of Cashflows 20
Accounting
Policies		 21
Notes to the Accounts 26

Iwitig"
"ri		 Iwitig"
"ri
Downturn in the UK and / ~ Visitor number
reduction		 ~ Ensure as many costs as possible can be flexed with
or global economy ~ Loss ofrevenue visitor numbers
adversely affecting the UK ~ Lack offinancing facilities ~ Engage with a strong targeted
marketing		 campaign
tourist and leisure industry ~ Unable to invest in the Zoo's ~ Exploit the drive time markets
development
programme		 ~ Keep the Zoo exhibits refreshed
~ Unable to maintain the current Zoo site ~ Provide "Value added" for the ticket price
~ Unable to maintain animal collection
~ Lose core staff
The Zoo does not retain its ~ Zoo closure is enforced ~ Maintain
required
standards
as dictated
by the Zoo
Zoo licence Licensing Act
~ Carryout
regular desktop compliance
reviews
~ Car
out re ular trainin
There are insufficient cash ~ The Zoo could be declared bankrupt by ~ Maintain
an adequate
set level ofworking		 capital.
funds available
to cash
flow the Zoo's business		 unpaid
creditors		 ~ Cash reserves forecasts are set aside to enable cash
fiow management.
plan ~ Carryout
regular cash forecasting
of available		 cash
to determine
ade
uate levels.
Cash covenants are ~ Reputational
damage		 with funders ~ Regular reviews ofcovenants
carried out		 and
breached ~ Not able to deliver the Zoo Development reported
to Board and Committee
plan impacting
negatively		 on visitor ~ Regular reviews ofcash forecasting
reported
Committee		 to
revenue
~ Regular Debt reviews
carried out
~ Profit
rotection
lan monitored
Breach ofHealth &Safety ~ The Zoo licence is revoked by the Local ~ Contract with a "Critical" partner to provide
statutory regulations Authority compliance
assurance
~ Investigation
and		 prosecution
by Health &		 ~ Ensure adequate
H&S policies in place which		 are
Safety Executive implemented
~ The Zoo incurs criminal charges and ~ Regular and appropriate
H&S training
for		 staff
financial
enalties
IT infrastructure is not ~ There is a breakdown of ITequipment due ~ Ensure sound. and capable IT infrastructure and
adequate
business		 to support the
operation		 ~
~		 to age and
/ or inadequacy
equipment
Breach of ITsecurity ofthe
/ or loss ofdata
Loss ofrevenue		 ofthe
data held		 and ~
~
~		 support
Utilise in-house
and outsourced
solutions
for growth
and delivery
Long term planning
to replace
/ upgrade
solutions
Take timely and regular system back-ups
/
replications
appropriate
to the data and operation
~ Reputational
damage		 ~ Policy for data storage which is adhered
to including
an "off-site" option.
~ Frequent
"patching" with "provider issued"		 patching
to guard against unauthorised
access
~ Develop "resilience" in to the system to ensure
business
continuity.
~ Carryout
annual
scoping exercises to ensure		 current
IT infrastructure
is ade
uate

Account) for the year ending 31D ecember 2020
2020 2019
Notes Unrestricted Restricted Endowment Total Total
INCOMING
RESOURCES		 f f f f
FROM GENERATED FUNDS
Voluntary
Donations
&Gifts		 2 449,439 449,439 25,450
CHARITABLE ACTIVITIES
Life Science, Education
and		 3 6,443,066 6,443,566 7,844,728
Conservation
Welfare
Activities
ForGenerating
Funds
Retail &Catering 4 2,624,400 2,624,400 3,900,263
Government
Business
Support Grants		 403,953 403,953
Interest Received 5,525 5,525
TOTAL INCOMING
RESOURCES		 9,926,383 9,926,883 11,770,441
RESOURCES EXPENDED
COST OF GENERATING
FUNDS
Retail &Catering 4/5 (1,714,500) (1,714,500) (2,676,145)
CHARITABLE ACTIVITY
Life Science, Education
and
Conservation
Welfare		 5/18 (7,708,207) (132,524) (7,840,731) (8,528,835)
GOVERNANCE
COSTS		 (42,215) (42,215) (50,789)
CORPORATION
TAX		 (39,727) (39,727)
TOTAL RESOURCES EXPENDED (9,504,649) (132,524) (9,637,173) (11,255,769)
NET INCOMING/(OUTGOING)
RESOURCES		 421,734 (132,024) 289,710 514,671
Other recognised
gains and losses
Actuarialloss
on
revaluation
of pension		 (60,000) (60,000) (82,000)
NET MOVEMENT IN FUNDS 361,734 (132,024) 229,710 432,671
FUND BALANCES BROUGHT
FORWARD AT1JANUARY 18/19 20,238,108 2,949,030 100,000 23,287,138 22,854,466
FUND BALANCES CARRIED
FORWARD AT31DECEMBER		 18/19 20,599,842 2,817,006 100,000 23,516,848 23,287,137

CONSOLIDATED GROUP AND COMPANY BALANCE SHEET
As at 31December 2020
Group Company
Notes 2020 2019 2020 2019
f f f
FIXED ASSETS
Intangible
Assets		 11 80,652 150,531 80,652 150,531
Tangible Assets 12 27,530,539 28,054,353 27,530,539 28,054,353
Investments 13 72,500 72,500
27,611,191 28,204,884 27,683,691 28,277,384
CURRENT ASSETS
Stocks 14 125,549 97,096
Debtors 15 995,904 989,097 1,243,463 1,757,693
Cash at Bank & In Hand 6,733,046 2,710,999 5,605,864 1,301,170
7,854,499 3,797,191 6,849,327 3,058,863
CREDITORS: Amounts
16 (2,192,143) (1,638,227) (1,713,594) (1,426,523)
NET CURRENT LIABILITIES 5,662,357 2,158,964 5,135,733 1,632,340
TOTAL ASSETS LESS
CURRENT LIABILITIES 33,273,548 30,363,848 32,819,424 29,909,724
CREDITORS: Amounts
falling due after more 17 (9,756,700) (7,076,710) (9,756,700) (7,076,710)
than one year
NET ASSETS 23,516,848 23,287,138 23,062,724 22,833,014
FUNDS
Endowment
Fund		 18 100,000 100,000 100,000 100,000
Restricted
Funds		 18 2,817,006 2,949,030 2,817,006 2,949,030
Unrestricted
Funds
Designated 18 17,543,478 17,123,410 17,543,478 17,123,410
Other 18 1,204,124 1,204,124 750,000 750,000
Revaluation
Reserve		 18 1,852,240 1,910,574 1,852,240 1,910,574
23,516,848 23,287,138 23,062,724 22,833,014

CONSOLIDATED STATEMENT OF CASHFLOWS CONSOLIDATED STATEMENT OF CASHFLOWS
Forthe year ended 31December 2020
Notes 2020 2019
CASHFLOWS FROM OPERATING ACTIVITIES f f
NET CASH PROVIDED BYOPERATING
ACTIVITIES		 22 1,768,189 1,905,311
CASH FLOWS FROM INVESTING ACTIVIT'IES
Cash paid to acquire intangible and tangible fixed assets (605,726) (1,103,601)
(605,726) (1,103,601)
CASH FLOWS FROM FINANCING ACTIVITIES
Net cash inflows from new bank borrowings 3,000,000 5,535,583
Repayments
of bank borrowings
and repayment
principal
amounts
offinance leases and capital		 of
creditors		 (140,416) (5,815,613)
NET CASH PROVIDED BY/(USED IN) FINANCING ACTIVITIES 2,859,584 (280,030)
Change
in cash and cash equivalents
in the reporting
period		 22 4,022,047 521,680
CASH AND CASH EQUIVALENTS ATTHE END OF THE 22 6,733,046 2,710,999
REPORTING PERIOD

CONSOLIDATED
STATEMENT OF
Account) for the year ending 31		 FINANCIAL
ACTIVIT
December 2019		 IES (Incorporating Consolidated
In		 come and Expe
2019
Unrestricted Restricted Endowment Total
INCOMING
RESOURCES
FROM GENERATED FUNDS
Voluntary
Donations
&Gifts		 21,950 3,500 25,450
CHARITABLE ACTIVITIES
Life Science, Education
and
Conservation
Welfare		 7,829,856 14,872 7,844,728
Activities
For Generating
Funds
Retail &Catering 3,900,263 3,900,263
Government
Business Support
Grants
Investment
Income
TOTAL INCOMING
RESOURCES		 11,752,069 18,372 11,770,441
RESOURCES EXPENDED
COST OF GENERATING
FUNDS
Retail &Catering 2,676,145 2,676,145
CHARITABLE ACTIVITY
Life Science, Education
and
Conservation
Welfare		 8,579,624 8,579,624
GOVERNANCE
COSTS
OTHER RESOURCES EXPENDED
TOTAL RESOURCES EXPENDED 11,255,769 11,255,769
NET INCOMING/(OUTGOING)
RESOURCES 496,300 18,372 514,672
Other recognised
gains and losses
Actuarial
loss on
revaluation
ofpension
liability		 (82,000) (82,000)
Corporation
Tax
NET MOVEMENT
IN FUNDS		 414,300 18,372 432,672
FUND BALANCES BROUGHT
FORWARD AT 1JANUARY		 19,823,808 2,930,658 100,000 22,854,466
FUND BALANCES CARRIED
FORWARD AT31DECEMBER		 20,238,108 2,949,030 100,000 23,287,138

2020 2019
f f
Donations &. Gifts 372,095 9,681
Legacies 77,343 15,769
449,439 25,450
3.
CHARITABLE ACTIVITIES
2020 2019
Unrestricted Income f
Gate Admissions and Donations 5,204,575 6,061,840
Gift Aid 582,508 675,729
Membership and adoptions 471,011 567,331
Educational visits 7,338 79,411
Other Income 177,633 445,545
6,443,066 7,829,856
Restricted Income
Research and Conservation Grants 500 14,872
6,443,566 7,844,728

RETAIL &C ATERING
2020 2019
f f
Turnover 2,624,400 3,900,263
Government Grants 46,585
Cost ofSales (1,500,378) (2,417,946)
Gross Profit 1,170,607 1,482,318
Administrative Expenses (492,162) (648,226)
Corporation Tax (39,727)
Net Profit 638,718 834,092
Reconciliation to SOFA
Cost ofsales 1,500,378 2,417,946
Administrative Expenses 492,162 648,226
1,992,540 3,066,171
Less rent payable to parent (262,440) (352,034)
Less auditor's remuneration analysed as governance costs (15,600)
Less other costs recharged (37,992)
1,714,500 2,676,145

Life Science,
Retail & education
and
Catering conservation 2020 2019
Costs welfare costs Total Costs Total Costs
COSTS DIRECTLY ALLOCATED TO ACTIVITIES f f f f
Life Science 438,158 438,158 565,982
Building Expenses 1,514,860 1,514,860 1,646,050
Retail & Catering 1,500,378 1,500,378 2,441,282
Advertising
&		 Publicity 639,379 639,379 623,858
Legal & Professional 101,403 101,403 191,578
1,500,378 2,693,799 4,194,177 5,468,750
SUPPORT COSTS ALLOCATED TO ACTIVITIES
Staff Costs 198,497 2,642,533 2,841,030 3,200,590
Office Expenses 15,624 805,122 820,747 732,737
Irrecoverable Vat 255,615 255,615 461,263
Depreciation 1,138,144 1,138,144 1,082,853
Fixed Asset Disposal
Finance Costs 305,518 305,518 258,787
Other support costs
214,122 5,146,932 5,361,054 5,736,230
2020 Totals 1,714,500 7,840,731 9,555,231 11,204,980
2019Totals 2,676,145 8,528,835 11,204,980

otes to the Accounts (co n tinued)
6.
NET INCOME
2020 2019
f f
Net income is stated after charging:
Operating
lease rentals
- plant and machinery 48,538 29,124
Auditors'
remuneration
-for audit services 39,000 39,000
-for non-audit
services
Depreciation
oftangible		 fixed assets
-leased assets 14,351 14,351
-owned assets 1,115,190 1,048,582
Amortisation
ofintangible		 assets 69,878 34,271
Cost ofstock recognised as an expense 418,661 561,466
7.
INTEREST EXPENDITURE
2020 2019
f f
Interest on bank loans and overdrafts 236,609 215,299
Other bank, interest and finance lease charges 61,910 34,488
Pension net interest expense (note 25) 7,000 9,000
305,518 258,787
Notes to the Accounts (continued) Notes to the Accounts (continued)
8.
TAXATION
Twycross Zoo East Midlands Zoological Society 2020 2019
(The Company)
Current tax:
UK corporation
tax on profits of period
Factors affecting tax charge for the period
The charity is exempt from tax on income and gains falling within section 505 ofthe Taxes Act
1988or section 252 ofthe Taxation ofChargeable Gains Act 1992to the extent that these are
applied to its charitable
objects.
Zoo Park (Twycross) Ltd
Profit on ordinary
activities
ofZoo Park (Twycross)
Ltd		 before taxation 678,455 834,092
Tax at 19%(2019:19%)on profit 128,906 158,477
Exempt under gift aid (89,179) (158,477)
Corporation
tax		 39,727

Group staff costs: 2020 2019
f f
Wages and salaries 2,721,988 2,892,395
Social security costs 198,712 203,598
Pension costs 103,475 104,597
3,024,175 3,200,590
Higher paid employees
Salary Range 2020 2019
f150,000-f159,999
f110,000-f119,999
f90,000 - f99,999
f80,000-f89,999
f70,000 - f79,999
2020 2019
Average
on head		 monthly
number
count including		 ofemployees,
directors:-		 based No. No.
Education 9 13
Resources 20 7
Visitor services 34 39
Retail 17 22
Keepers 54 56
Vets 3 3
137 140

ITSoftware Total
f f
Cost
1stJanuary 2020 227,203 227,203
Additions
Transfers
Disposals
31st December 2020 227,203 227,203
Amortisation 76,673 76,673
1stJanuary 2020
Amortisation charge for the year 69,878 69,878
Disposals
31st December 2020 146,551 146,551
Net Book Value
31st December 2020 80,652 80,652
31st December 2019 150,531 150,531
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Group Company
2020 2019 2020 2019
E f f f
Amounts
owed by subsidiary		 689,569 982,662
Trade debtors 21,381 21,381
Other Debtors 828,590 805,642 386,580 591,576
Prepayments
&Accrued Income		 145,933 183,455 145,933 183,455
995,904 989,097 1,243,463 1,757,693
16. CREDITORS: Amounts falling due in less than one year
Group Company
2020 2019 2020 2019
f f f E
CBILLoan 300,000 300,000
Finance Leases 69,566 67,019 69,566 67,019
Trade Creditors 573,053 331,615 306,337 325,856
Other Taxation &Social Security 32,523 169,747 32,523 169,826
Corporation
Tax		 39,727
Accruals & Deferred Income 1,059,004 924,311 886,898 718,365
Capital creditor 118,270 145,457 118,270 145,457
2,192,143 1,638,227 1,713,594 1,426,523

Group Company
2020 2019 2020 2019
f f f f
CBILLoan 2,700,000 2,700,000
Pension Creditor 421,000 354,000 421,000 354,000
Finance Lease Obligations 62,681 90,822 62,681 90,822
Bank Loans 5,565,232 5,536,467 5,565,232 5,536,467
Capital Creditor 1,007,787 1,095,421 1,007,787 1,095,421
9,756,700 7,076,710 9,756,700 7,076,710

otes to the Ac counts (continued)
18. FUNDS
ENDOWMENT FUND
1stJanuary 2020 and 31st December 2020
1stJanuary 2020 and 31st December and 31st December 2020 100,000
UNRESTRICTED FUNDS
Group Company
2020 2019 2020 2019
Designated Funds
1stJanuary 17,123,410 1,367,100 17,123,410 1,367,100
Transfer to Designated funds
from 420,068 15,756,310 420,068 15,756,310
Other Unrestricted Funds
31st December 17,543,478 17,123,410 17,543,478 17,123,410
Conservation Welfare 1,367,100 1,367,100 1,367,100 1,367,100
Fixed Assets 16,176,378 15,756,310 16,176,378 15,756,310
17,543,478 17,123,410 17,543,478 17,123,410
esulting
in t
2019f1.2m		 otal "Other Unrestri
and f0.75m).		 cted
Fun		 ds" off1.2m and E0.75m for the Group and Company
 respectively
Revaluation Reserve Group Company
2020 2019 2020
'		 2019
f f f E
1stJanuary 1,910,574 1,968,909 1,910,574 1,968,909
Annual
Transfer from Revaluation
Reserve to Other Unrestricted
Funds		 (58,335) (58,334) (58,335)
31st December 1,852,240 1,910,574 1,852,240 1,910,574

Group Company Company
2020 2019 2020 2019
f f f f
1stJanuary 1,204,124 16,487,799 750,000 16,033,675
Net (loss) /surplus for the year 421,734 496,300 421,733 496,300
Actuarial
Loss on revaluation
pension
liability		 of (60,000) (82,000) (60,000) (82,000)
Transfer from Revaluation Reserve 58,334 58,335 58,334 58,335
Transfer to Designated
Assets		 Funds - Fixed (420,068) (15,756,310) (420,068) (15,756,310)
31stDecember 1,204,124 1,204,124 750,000 750,000
Total unrestricted funds 20,599,842 20,238,108 20,145,718 19,783,984
RESTRICTED FUNDS
Group Company
2020 2019 2020 2019
f f f f
1stJanuary 2,949,030 2,930,658 2,949,030 2,930,658
Income in the year 500 18,372 500 18,372
Expended
in the year		 132,524 132,524
31st December 2,827,006 2,949,030 2,817,006 2,949,030

1st 31st
January December
2020 Income Expenditure 2020
Molly Badham Chimpanzee Fund 23,008 23,008
Himalaya 2,350,000 75,000 2,275,000
Changing Places Grant 55,398 2,193 53,205
LLEP SME Growth Fund 502,252 13,951 488,301
WAZA 14,872 14,872
Other 500 500
Ratcliffe Foundation 3,500 3,500
2,949,030 500 132,524 2,817,006

Notes to the Accounts (continued) Notes to the Accounts (continued)
19. RECONCILIATION OF FUNDS
Group Company
2020 2019 2020 2019
E E f f
Surplus for the year 289,709 514,672 289,709 514,672
Actuarial
losses on revaluation
pension
liability		 of (60,000) (82,000) (60,000) (82,000)
Opening
funds		 23,287,137 22,854,465 22,833,014 22,400,342
Closing funds 23,516,846 23,287,137 23,062,723 22,833,014
20. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Restricted Endowment
Funds funds fund
f f Total
f
Intangible
fixed assets (note 11)		 80,652 80,652
Tangible fixed assets (note 12) 24,613,533 2,817,006 100,000 27,530,539
Cash at bank and in hand 6,733,046 6,733,046
Other net current assets/(liabilities) (1,070,689) (1,070,689)
Long term liabilities (note 17) (9,756,700) (9,756,700)
20,599,842 2,817,006 100,000 23,516,848

2020 2019
f f
Net incoming/(outgoing) resources 289,710 432,672
Depreciation 1,199,419 1,082,853
Amortisation of loan arrangement fees 28,765
Movement in stocks (28,453) 7,844
Movement in debtors (6,808) 372,999
Movement in-creditors 285,556 (73,057)
1,768,189 1,905,311
nalysis of Cash and Cash Equivalents
1January 31
December
2020 Cash
flows		 2020
f
Cash at bank and in hand 2,710,999 4,022,047 6,733,046

Sensitivity analysis 2020 2019
Discount rate decreased by 0.1% f8,000 f7,000
Life expectancy increased by one year f12,000 f9,000