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Dudley Zoo Development Trust
FINANCIAL STATEMENTS
for the year ended 31 December 2023
Charity No. 507973
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Dudley Zoo Development Trust
Legal and Administrative Details
Trustee Dudley and West Midlands Zoological Society Limited
Legal Status
The Trust is set up by means of a trust deed dated 18th August 1978.
Charity Registration Number 507973
Address Castle Hill Dudley West Midlands DY1 4QF
Bankers Barclays Bank plc High Street Dudley West Midlands DY1 1PP
Dudley Zoo Development Trust
Contents
| Page | |
|---|---|
| Trustee’s Report | 1-2 |
| Independent examiners report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| NotestotheAccounts | 6-7 |
Dudley Zoo Development Trust
Trustee’s Report for the year ended 31st December 2023
The Trustee presents its report and the financial statements for the year ended 31st December 2023.
Trustees
Dudley and West Midlands Zoological Society Limited is the sole trustee of the Trust and is represented by the following Society board members.
Peter Silver
Michael Evans
The trust was set by trust deed dated 18th August 1978 and is registered with the Charity Commission number 507973. The charity's address is Castle Hill, Dudley, West Midlands, DY1 4QF.
Objects, Organisations and Activities
The Charity was established to assist with the development of Dudley Zoo and to assist with the feeding of the animals.
Review of the year
The trusts income has decreased from the previous year to £43,436 (2022: £45,192). In December 2023 the income has benefitted from a Black Friday sale and from people looking for online purchases for Christmas presents. There were no legacies received in 2023. In 2022 no legacies were received. The trust has continued to assist Dudley Zoological Society with grants and donations during the year of £43,080 (2022: £44,887).
In 2023 no amounts were donated to Dudley Zoological Society to assist in the site development of the zoo. In 2022 the Trustees made a payment to Dudley Zoological Society of £65,000 to assist in the site development of the zoo.
Finances
The attached financial statements show the current state of the finances of the trust which the trustees consider to be sound.
Public benefit
The Trust provides support for the Dudley & West Midlands Zoological Society with funding which enables practical assistance to the charitable aims of the Society.
Reserves
The policy of the Trust is to retain sufficient funds to maintain the trust as a going concern. The Trust will provide donations to the Zoo in accordance with its objectives and will hold minimum reserves as a result.
Trustee’s responsibilities
The trustee is responsible for preparing the Trustee’s 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 and 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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e select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charities SORP; e make judgements and estimates that are reasonable and prudent; e state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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Trustees Report for the Year Ended 31st December 2023
Dudley Zoo Development Trust
Trustee’s responsibilities (continued)
The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of 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 charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board of trustees
Peg 27>,° a4 Z 4 ee Peter Silver Trustee
9th May 2024
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Dudley Zoo Development Trust
Independent examiner’s report to the Trustees of Dudley Zoo Development Trust
| report on the accounts of Dudley Zoo Development Trust for the year ended 31 December 2023, which are set out on pages 4 to 7.
Respective responsibilities of trustees and examiner
The charity’s trustee is responsible for the preparation of the accounts. The charity’s trustee considers that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and - to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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e to keep accounting records in accordance with section 130 of the 2011 Act; and
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e to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Neil Westwood
ON BEHALF OF NEIL WESTWOOD & CO.
Chartered Accountants 101 Dixons Green Road, Dudley, West Midlands DY2 7DJ
9th May 2024
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Dudley Zoo Development Trust
Statement of Financial Activities
for the year ended 31st December 2023
| Year | ||||
|---|---|---|---|---|
| Year ending | ending 31 | |||
| 315' Dec | December | |||
| 2023 | 2022 | |||
| Unrestricted | Restricted | |||
| funds | Funds | Total | Total | |
| £ | £ | £ | £ | |
| Incoming resources | ||||
| Donations (including tax) | 300 | - | 300 | 300 |
| Donations received for animal food | - | 43,080 | 43,080 | 44,887 |
| Investment Income | 56 | - | 56 | 5 |
| Total incoming resources | 356 | 43,080 | 43,436 | 45,192 |
| Resources expended | ||||
| Costs of charitable activities: | ||||
| Donations for animal food | - | 43,080 | 43,080 | 44 887 |
| Donations for site development | - | - | - | 65,000 |
| - | 43,080 | 43,080 | 109,887 | |
| Governance costs | 240 | - | 240 | 240 |
| Total Resources expended | 240 | 43,080 | 43,320 | 110,127 |
| Net incoming/(outgoing) resources | 116 | - | 116 | (64,935) |
| Total funds at 1 January | 13,169 | - | 13,169 | 78,104 |
| Totalfundsat31stDecember | 13,285 | - | 13,285 | 13,169 |
The net incoming and expended resources and the resulting net movement in funds arise from continuing operations.
There are no recognised gains or losses other than the net movement in funds for the year.
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Dudley Zoo Development Trust
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Balance Sheet
as at 31st December 2023
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31st Dec 3ist Dec
2023 2022
Notes £ £ £ £
Current Assets
Debtors 3 - -
Cash at bank and in hand 13,765 13,409
13,765 13,409
Creditors: amounts falling
due within one year 4 (480) (240)
Net Current Assets 13,285 13,169
Net Assets 13,285 13,169
Funds
Unrestricted Funds 13,285 13,169
Total Funds 13,285 13,169
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The financial statements on pages 4 to 7 were approved by the Trustee’s representatives and authorised for issue on 9" May 2024 and are signed on behalf of the board of trustees by:
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f) 4 i .
Peter Silver
Trustee
9 May 2024
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Dudley Zoo Development Trust
Notes to the Financial Statements
for the year ended 31st December 2023
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Principal Accounting Policies
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These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these account. The accounts have been prepared in accordance with: the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16" July 2014 and with the Charities Act 2011.
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a. Incoming resources Donations and gifts are recognised on an accruals basis to the extent that the Trust has been notified it will receive a donation or gift of a determined amount or the donation or gift has been received. Investment income is included in the accounts when receivable.
Incoming resources from tax reclaims are included in the Statement of Financial Activities at the time they are received from the Inland Revenue.
- b. Resources expended All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.
Costs of charitable activities relate to donations given to Dudley and West Midlands Zoological Society Limited towards the cost of animal feed.
Governance costs include the costs of the good stewardship and management of the Trust's assets, organisation, administration and compliance with statutory requirements and those of good practice.
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c. Funds Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the Trust.
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Net incoming resources Included within the net incoming resources is £240 in relation to the independent examination fees (2022: £240).
| 31 Dec | 31 Dec | ||
|---|---|---|---|
| 3. | Debtors | 2023 | 2022 |
| £ | £ | ||
| Amounts due from Dudley Zoo | 0 | 0 | |
| —— | ee | ||
| 31 Dec | 31 Dec | ||
| 4. | Creditors: amounts falling due within one year | 2023 | 2022 |
| £ | £ | ||
| Amounts due to Dudley Zoo | 0 | 0 | |
| Accountants Fees | 480 | 240 | |
| 480 | 240 |
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Dudley Zoo Development Trust
Notes to the Financial Statements
for the year ended 31st December 2023
5. Trustees Remuneration and Expenses
No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year or previous year to any trustee.
No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year or previous year.
6. Unrestricted funds
£
| Balance | at | 1 January | 13,169 |
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| Surplus | 116 | ||
| Balance | at | 31December | 13,285 |
7. Parent undertaking and controlling party
The charity by virtue of the right to appoint representative Trustees is a wholly owned subsidiary of Dudley and West Midlands Zoological Society Limited, a company incorporated in England and Wales, and its results are included in the consolidated financial statements of that charitable company. Those financial statements are available from Companies House, Crown Way, Cardiff.
The ultimate parent undertaking is Dudley Metropolitan Borough Council.
8. Related parties disclosures
The charity has taken advantage of the exemption conferred by paragraph 3(c) of Financial Reporting Standard No. 8 Related Party Disclosures, from the requirement to disclose transactions with group undertakings.
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