Dudley Zoo Development Trust FINANCIAL STATEMENTS for the year ended 31 December 2024 Charity No. 507973 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 DY14QF Bankers Natwest 2nd Floor 39 Queen Square Wolverhampton VW1 1TL Dudley Zoo Development Trust Contents Page Trustee's Report Independent examiners report ststement of Financial Activities Balance Sheet Notes to the Accounts Dudley Zoo Development Trust Trustee's Report for the year ended 31st December 2024 The Trustee presents its report and the financial statements for the year ended 31st De￿mber 2024. 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, DY14QF. 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 increased from the previous year to £308,314 {2023.' £43,436). In 2024 the income has benefitted from a legacy from one individual totalling £263,000. No legacies were received in 2023. The trust has continued to assist Dudley Zoological Society with grants and donations during the year of £44,038 (2023. £43,080). In 2024 no amounts were donated to Dudley Zoological Society to assist in the site development of the zoo. In 2023 no amounts were donated to Dudley Zoological Society 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 onsider 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: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP-, make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards 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 charity will continue in business. Dudley Zoo Development Trust Trustees Report for the Year Ended 31st December 2024 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 r Silver Trustee 91h April 2025 Dudley Zoo Development Trust Independent examiner's report to the Trustees of Dudley Zoo Development Trust I report on the accounts of Dudley Zoo Development Trust for the year ended 31 December 2024, 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: (1) which gives me reasonable cause to believe that in any material respect the requirements- to keep accounting records in accordance with section 130 of the 2011 Act., and 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 Weslwood ON BEHALF OF NEIL WESTWOOD & CO. Chartered Accountants 101 Dixons Green Road, Dudley, West Midlands DY2 7DJ 9th April 2025 Dudley Zoo Development Trust statement of Financial Activities for the year ended 31st December 2024 Year ending 31 December 2023 Year ending 31st De 2024 Unrestricted Restricted funds Funds Total Total Incoming resources Donations (including tax) Donations received for animal food Investment Income 264,200 264,200 44,038 76 300 43,080 56 44,038 76 Total incomlng resources 264,276 44.038 308,314 43,436 Resources expended Costs of charitable activities.. Donations for animal food Donations for site development 44,038 44.038 43,080 44,038 44,038 43,080 Governance costs Total Resources expended 241 241 241 44,279 240 43,320 44,038 Net incomingl(outgoingl resources 264,035 264,035 116 Total funds at 1 January 2024 13,285 13,285 13,169 Total funds at 31st December 2024 277,320 277.320 13,285 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. Dudley Zoo Development Trust Balance Sheet as at 31st December 2024 31st Dec 2024 31st Dec 2023 Notes Current Assets Debtors Cash at bank and in hand 277 560 277,560 13,765 13,765 Creditors.. amounts falling due within one year 240 480 Net Current Assets 277,320 13,285 Net Assets 277,320 13,285 Funds Unrestricted Funds 277,320 13,285 Total Funds 277,320 13,285 The financial statements on pages 4 to 7 were approved by the Trustee's representatives and authorised for issue on 9th May 2025 and are signed on behalf of the board of trustees by Peter Silver Trustee 9 April 2025 Dudley Zoo Development Trust Notes to the Financial Statements for the year ended 31st December 2024 Principal Accounting Policies 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 accounts. 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 16th July 2014 and with the Charities Act2011. 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. c. Funds Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the Trust. Net incomlng resources Included within the net incoming ￿sOurceS is £240 in relation to the independent examination fees (2023.. £240) 31 Dec 2024 31 Dec 2023 Debtors Amounts due from Dudley Zoo 31 Dec 2024 31 Dec 2023 4. Creditors: amounts falling due within one year Amounts due to Dudley Zoo Accountants Fees 240 240 480 480 Dudley Zoo Development Trust Notes to the Financial Statements for the year ended 31st December 2024 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. Unrestrlcted funds Balance at 1 January Surplus 13,285 264,035 Balance at 31 December 277,320 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. 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.