Charity Registration No. 514108
Company Registrdtion No. 01731129 (England and Wales)
NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr P Gibson MA (Oxon), DMS, MBIM
Dr C S Harcourt BSC, MSC, PhD
Mr T Deakin MIET
Mr N H Brown Bsc
Mr R Jackson BBACGMA
Dr S Miller Bsc (Hons)
MrA Greenwood MA VetMB CBiol
FSB DipECZM FRCVS
Mr N L Jackson MBE
Mr A Rogers
Ms A O'carroll
(Appoinled 20 January
2025)
(Appoinled 20 January
2025)
(Appoinled 20 January
2025)
Mrs J Legget-Jones
Dr V Melfi
Secretary
Mr C Mitchell
Charity number
514108
Company number
01731129
Principal address
Welsh Mountsin Zoo
Old Highway
Cown Bay
LL28 5UY
Registered office
Welsh Mountsin Zoo
Old Highway
Cown Bay
LL28 5UY
Auditor
Sage & Company Business Advisors Ltd
102 Bowen Court
St Asaph Business Park
St Asaph
Denbighshire
LL17 OJE

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
CONTENTS
Page
Trustees report
Statement of Trustees responsibiltties
Independent auditorfs report
10-13
Statement of financial activities
14-15
Balance sheet
16
statement of cash flows
18
Notes to the financial statements
19-30

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and financial statements for the year ended 31 December 2024.
Executive Summary
The 2024 Annual Report outlines a year of continued progress for the Zoo across its strategic aims, delivering
meaningful improvements in animal welfare, conservation, education, visilor engagement, financial slability, and
communty partnerships. With the appointment of a new CEO and a review of the Strategic Plan and Masterplan
promised in 2025.
Animal Welfare and Zoo Environment
Significant improvements were made to animal faulities, including renovations to the replile house, enhan￿d
housing for gibbons. and the initiation of fencing upgrades for the Sumatran tigers. Breeding Suc￿sS continued with
key species such as margay, snow leopards, and red squirrels. Welfare and quality-of-life assessments were
reviewed and expecled lo have a positive impacl on weifaie slandards going forwards.
Conservation and Research
Support for in situ conservation projects expanded, wth continued collaboration with global partners and the
addition of Proyecto Titi. Reintroductions included the release of captive-bred red squirrels into the wild. Twelve
research projects were completed, and notsble acquisilions were made to enhance species conservalion planning.
Education and Public Engagement
Educational impact grew by 980/0 cornpared to the previous year. reaching over 34.000 people through fomial and
informal programmes. The Zoo also delivered over 10.000 guest engagements via species talks and QR-code-
driven feedback tools. Intemal research was presented at sector conferences, reinforcing the Zoo's academic
contribution.
Visitor Experience
Despite weather-related infrastructure issues. visttor numbers remained stable, wtth a 60/0 increase recorded in
June. Enhancements such as Ihe Tropical Trail (fom)erly Reptile House), digital signage, and accessibility
improvements helped create a more inclusive and informative guest experien￿.
Financial and Environmental Sustainability
The Zoo ended the year in a strong cash position (£1.43M), despite a year-end deficit of £101,390. Income from
adoplions and calering exceeded 2023 levels. Capital spending was below budget due to projecl phasing, with key
estate improvements completed. Food waste was reduced and carbon impact lowered through procurement and
vehicle use changes.
Community and Social Enterprise
Volunleer engagement rose signrficantty, wrth 66 volunteers conlributing over 5,400 hours and high salisfaction
scores 19.71101. The Zoo continued to work with communty groups and appointed a dedicated Partnerships and
Fundraising Manager to further strengthen outreach and collaboration.
Governance and Strategic Planning
The fomial dosure of the Zoological Society of Wales Association was completed, consolidating operations under
NZSW. Strategic planning continued under new leadership, with priorities set for 2025 and beyond.
Workforce
Staff headcount reached 59, with recruiiment focused on guest services and leadership. The sickness absence rate
stood al 4.7010, and lurnover was in line with sector averages. Worfrfor￿ inveslment conlinues lo be a priority, with a
focus on sustsinability and retention.
The financial slatements have been prepared in accordance with the accounting policies set oul in note 2 to the
financial statements and comply with the National Zoological Society of Wales's goveming document, the
Companies Acl 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
and the Charities SORP "Accounting and Reporting by Chariiies.. Statement of Recommended Practice apF4icable
to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and
Republic of Ireland {FRS 1021"

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Objectives and activities
As the National Zoological Society of Wales, the Chanty's object and its principal activity are b advance the
education of the general public by increasing knowledge, interesl and appreciation of animals - including rare and
endangered species - and plants in both natural and artthcial environments. and to provide facilitEs for recreation
and other leisure time activities.
Mission Statement
Through its work at Ihe Welsh Mountain Zoo. and elsewhere, the Society seeks to=
enhance appreciation and understanding of the earth's natural heritage through public education and
recreation, and the advancement of biological study.
support the maintenance of the earth's biological diversty through participation in conservation breeding
programmes and assistance for conservation in the wild.
pursue the above objectives and activities globally, regionally and with special emphasis on the
conservation and enhan￿ment of biodiversity in Wales and its surrounding areas.
We have outlined the achievements and perfonnance of the Charty in line with its Strategic Aims as listed below.
Strategic Aim 1.. Ta operate an exemplary Zoo. providing a centre of eX￿llen￿ for animal welfare and the Zoo
environment
Strategic Aim 2.. To maximise the impact of our conservation and research activities both within the Zoo and in the
wild, making a real drfference to the care and proleclion of animals, plants and habf(ats
Strategic Aim 3.. To enhance the public's knowledge, appreciation and understanding of animals and the natural
environment {including rare and endangered species) and increase awareness of conservation through inspiring
educational experiences
Strategic Aim 4= To enhance the Zoo's position as a leading visitor attraction in North Wales. providing engaging,
enjoyable, quality experiences for all guests
Strategic Aim 5.. To ensure the long-term financial and environmental sustainability of the Charity through financially
sustainable business activities and high standards of govemance
Strategic Aim 6: To be an active and effective social enterprise with strong community involvement and partnership
working
Public benefit
The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding whal aclivities the
National Zoological Society of Wales should undertake.
Voluntee
The basis of valuation ft)r donated services of volunteers is that deemed costs are not recognised within the
Slatement of Financial Activtties.

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and perfonnance
Significant activities and achievements against objectives
Strategic Aim 1: To operate an exemplary zoo, providing a centre of excellence for animal welfare and the
zoo environment
Improvements to the Zoo's Animal Facilities
In line with licence requirements, the reptile collection was fully dispositioned. This allowed lemporary renovalion of
the house, to provide a reduced and improved reptile experien￿ for guests for the summer through to the end of
the year. A new reptile tscility will be created to sit alongside the butterfly house.
Additional indoor and holding accommodation was constructed for the gibbons.
Plans continue lo be developed by our architecl contractors for improved accommodation for the brown bears.
Replacemenl of Ihe Sumatran tiger fence commenced.
Breeding
During 2023. a number of species were bred as part of co-ordinated national or inlemational ex situ breeding
programmes and these included margay (our first ￿Ins) and snow leopard. plus a variety of other species including
Chilean flamingo, red squirrels and pine marten.
Welfare and Quality of Life Assessments
Following implemenlation. welfare assessments continued to be reviewed and improved for use.
Strategic Aim 2- To maximise the impact of our conservation and research activities both within the Zoo
and in the viild, making a real difference to the care and protection of animals. plants and habitats
In situ Conservation
The Society has maintained its practical and financial support for a number of in situ conseNation projects..
Moth monitoring on the Zoo site in collaboration with Rothamsted Research
The ConseNation Planning Specialist Group of the Species Sutwival Commission of IUCN
The Foresl Guardian Programme (through EAZA) for red panda conservation in Nepal
The Snow Leopard Trust for snow leopard conservation in range countries
Madagasikara Voakajy for lemur conseNalion in Madagascar
The WILD Chimpanzee Foundation for chimp conservation in Cote d'lvoire. Liberia, Guinea and Sierra
Leone
Wildcals Conservation Alliance for wild tiger conservation projecls
Red Squirrels Trust Wales for the conservation of this native species
CREA Panama Margay Art)oreal Projecl
Proyecto Trti was added this year to support the conservation of Cotton topped tamarins in Columbia
Reintroduction
3.4.0 young caplive bred squirrels were sent for wild release at Clocaenog forest, through the Magic Mammals
programme approved by Natural Resources Wales.
Species Planning
Some notable species were acquired under the species plan. in temis of conservation and EEP value. A bachelor
group of critically endangered blue-crowned laughingthrush were acquired through Ihe EEP. A pair of critically
endangered spider tortoise were acquired from a private source. with a view to integrating them with the EEP.

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Strategic Aim 3: To enhance the public's knowledge, appreciation and understanding of animals and the
natural environment (including rare and endangered species) and increase awareness of conservation
through inspiring educational experiences
Education
Our Education Manager has increased outreach. classroorn and informal education engagements by over 980/0 in
2024, compared with 2023 engagement records.
A large percentage of this was achieved by attending the National Education Show and the Conservation Christm8S
outreach campaign.
Engagements for the year across formal and infomial education and outreach totalled 34.426.
Summer species talks were provided for guests. with QR codes being used to encourage feedback for evaluation of
learning.
Over 10,000 infomial guesl education engagements were achieved through species talks.
Research
Twelve completed research projects ranging from BSc-PhD took place. induding behaviour sludies wtth bears, sea
lions. callitrichids, macropods. and chimpanzees, and behaviour change.
The Zoo's in-house research was presented at the BIAZA National Education Conference with fellow sector peers.
Strategic Aim 4: To enhance the Zoo's position as a leading visitor attraction in North Wales, providing
engaging, enjoyable. quality experiences for all guests
Visitor Numbers and Infrastructure
Despite ongoing weather-related disruption to parking. visitor numbers remained stable across the first half of the
year, with a 6°/0 year-on-year increase reported in June.
On-sile challenges linked lo waterlogging led to the decision to invest in car park malling. to be installed by the
maintenance team in eady 2025.
Visitor Experience Initiatives
Launch of a new "Zoo Updates and Improvements" webpage to better infomi guests about ongoing works and
closures
Installation of digital signage at the Zoo Shop and improved wayfinding
Adjustments to presentation tirnings and the introduction of mobile catertng units reduced queuing and improved
guest flow
The Reptile House was reopened and rebranded as the Tropical Trail, incorporating sensory features lo enhance
accessibility for neurodivergent and visually impai￿d guests. The development was supported by the Education
team and has been positivety received.

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review
Strategic Aim 5: To ensure the long-temi financial and environmental sustainability of the Charity through
financially sustainable business activities and high standards of governance
Financial Perforniance
For the Group, as of 31 December 2024:
Total income for the year was £2.69M, ahead of the budget of £2.52M
Cash al bank stood at £1.43M, well above resep4e thresholds and projections
Net deficit for the year.. £101,390, foll0￿llng a Q4 seasonal loss of £364,000
Key Financial Points
GiftAid income.. £88,800 (target: £100,000)
Membership income.. £87,212 (target.. £95,000)
Direcl purchases ended £17,000 under budget
Overheads in Q4 wilhin £9.000 of budget, despite rising energy and grounds costs
Capital Expenditure
Agreed capital budget= £804,585
Actual 2024 spend.. £197.717
£156,857 in capital projects carried forward to 2025
Key projects included penguin fencing, chimpanzee den repairs. groundwork for new gibbon house
Reserves policy
Reserves policy
The Truslees policy for reserves is to maintain a minimum of£500.000 in the bank account, such amount lo be kepl
under continuous review. This is based on an aggregate of 5 months. running costs which is deemed prudent by the
Truslees.
Major risks
Risk management policy
The Trustees have carried oul a detsiled review of the charity's activities and produced a comprehensive strategic
plan setting oul Ihe major opportunities available to the charity and the risks to which it is exposed. The Truslees
monitor progress against the strategic objectives of the charity- A detailed review of the objectives is carried out
regulady.
As part of this process, the Trustees have implemented a risk management strategy which comprises..
a regular review of the risks which the charity may face-
the establishment of systems and procedures to mitigate those risks identrfied in the plan., and
Ihe implementalion of procedures designed to minimise any potential impact on the charity should any of
those risks materialise.
The Trustees have focused on the need to refuTbish and develop the animal exhibtts further, resulling in the
applications for funding mentioned previousty- A successful outcome is dependent on the charity meeting the
challenges such a major project presents and managing our finances prudenlty.

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Plans for future periods
Governance
In January 2024, the Charity Commission confirmed the removal of the Zoological Society of Wales
Association IZSWA} from the register, all operations now continue under National Zoological Society of Wales
and Zoological Society of Wales Trading Company Ltd
Chris Milchell joined the Society as CEO in May 2024
Environmenlal Suslainability
All food waste on site is now recycled, in line V￿th Welsh Govemrnent guidance
Zoo ceased collection of superrnarket waste food. purchasing directty from wholesale sources. resulting in redU￿d
food waste and carbon emissions.
Strategic Aim 6: To be an active and effective social enterprise with strong community involvement and
partnership working
Volunteers and Supporters
The Zoo engaged 66 volunteers across 4 departments in 2024
Volunleers dedicated a total of 5.464 hours - a 56% increase on 2023
Annual volunteer survey yielded a 9.7110 satisfaction rating
Community and Partnerships
Education 5es5ions were held in collaboration with local charity groups. including Guide Dogs UK and Conwy
Connect
Appointment of a Partnership and Fundraising Manager in October 2024, starting December
Marketing efforts in 2024 focused on accessibility, transparency, and visitor engagement
Slrategic Plan
Slrategic plan under review for board confimation in 2025
Slructure. governance and management
The National Zoological Society of Wales is a company limited by guarantee and does not have a Share capital. The
liability of each member in the event of winding up is £1.
The Trustees, who are also the diredors for the purpose of company law. and who served during the year were..
Mr P Gibson MA {Oxonl, DMS. MBIM
Dr C S Harcourl BSC, MSC. Pho
Mr T Deakin MIET
Mr N H Brown Bsc
Mr R Jackson BBA CGMA
Dr S Miller Bsc {Honsl
MrA Greenwood MA VetMB CBiol FSB DipECZM
FRCVS
Mr N L Jackson MBE
MrA Rogers
Ms A O'carroll
Mrs J Legget-Jones
Dr V Melfi
(Appointed 20 January 2025)
(Appointed 20 January 2025)
(Appointed 20 January 2025)
Recmitment and appointment of tnistees

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Organisational structure
Under the articles of association the maximum number of Trustees is Iwelve. and one third of those retire each year
by rotation. They are eligible to be re-elected and are nominated and appointed by the remaining Trustees.
The charity is govemed by the Trustees who pass the day to day administration to Chris Mitchell in his role as CEO
(from May 20241. The Zoological operation continues to be directed by Kim Wood.
Induction and training of trustees
Any new Trustees that are nominated by the Trustees are individuals that have the necessary skills and knowledge
to support the work of the charity. however newty appointed Trustees are given appropriate training as deemed
necessary.
The Trustees hold quartedy council meetings both in private and with directors to discuss progress and any issues
arising.
Human Resources and Organisational Dala
Headcount (as of Dec 2024
Department
No. of Staff
Guest Services
19 (inc. 16 seasonal)
Animal Keepers
17 (inc. 1 seasonall
offi
Estates
Grounds and Gardens
Leadership
Total
59
Relationship with related parties
The charity has a trading subsidiary (Zoological Society of Wales Trading Company Limited), the results of which
are incorporated into the consolidated accounts.
The organisation operates a slruclured volunteer scheme in co-operation with Conwy Voluntary Council and WCVA.
The volunteers assist on a part-time basis, under supervision. in various Zoo departments including Education,
Gardens and Animal Welfare. The Trustees and Management ofthe Society are grateful for the support of our
volunleers. In accordance with the accounting policy, the value of such volunteers is not recognised in the accounts.
Audilor
In accordance with the company's articles. a resolution proposing that Sage & Company Business Admsors Ltd be
reappointed as auditor of the company will be put at a General Meeting.

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Disclosure of infonnation to auditor
Each of Ihe Trustees has confirmed thal there is no infomialion of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confimed that they have taken appropriate steps to
idenlify such relevant infomation and to establish that the auditor is aware of such informalion.
The Trustees report was approved by the Board of Trustees.
Mr R Jackson BBA CGMA
Chairnian
16 September 2025

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees, who are also the diredors of National Zoological Society of Wales Limited for the purpose of
company law, are responsible for preparing the Trustees Report and Ihe accounts in accordance with applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare accounts for each financial year which give a twe fair view of
the state of affairs of the National Zoological Society of Wales and of the incoming resources and application of
resources, induding the income and expendilure. of the chartlable company forthal year.
In preparing Ihese accounts, the Truslees are required to=
select suitable accounting policies and then appty them consistenty..
observe the methods and principles in the Chartties SORP-
make judgements and estimates that are reasonable and prudent-
stale whether applicable UK Accounting Standards have been followed, subject to any malerial departures
disclosed and explained in the accounts- and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the National Zoological
Society of Wales will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any lime the financial position of Ihe Nalional Zoological Society of Wdles and enable Ihem lo ensure Ihal the
accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the
National Zoological Society of Wales and hence for tsking reasonable steps for the prevention and delection of
fraud and other irregulartties.
Slatement of disclosure to audilors
So far as each person who was a trustee at the date of approving this report is aware, there is no relevant audit
information of which the company's audilors are unaware. Addilionally, the trustees individually have taken all the
necessary sleps that Ihey oughl to have laken as trustees in order to make themselves aware of all relevant audil
information and to establish that the company's auditors are aware of that information.
Company law requires the Trustees to prepare financial statements for each financial year which gwe a true and fair
view of the slate of affairs of the National Zoological Society of Wales and of the incoming resources and application
of resources, including the incorne and expenditure. of the charitable company for that year.
In preparing ihese financial statements. the Truslees are required lo=
select suitable accounting policies and then app￿ 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 Ihe financial slatements.. and
prepare the financial statements on the going concem basis unless it is inappropriate to presu￿ that the National
Zoological Society of Wales will conlinue in operation.
The Trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy al
any lime the financial position of the Nalional Zoological Society of Wales and enable Ihem to ensure that the
financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of
the National Zoological Society of Wales and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
Opinion
We have audited the financial slatements of National Zoological Society of Wales Limited (the 'Nalional Zoological
Society of Wales'l (the 'parent'l and its subsidiaries (the 'group') for the year ended 31 December 2024 which
comprise Ihe Consolidaled SOFA, Consolidated Balance Sheet, Consolidated Cash )low Slatement and Parent
Company Balance Sheet, including a summary of significant accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice)-
In our opinion, the financial statements-
give a true and fair view of the stsle of the charitable companvs affairs as at 31 December 2024 and of ils
incoming resources and application of resources, including its income and expenditure, for the year then
ended.,
have been property prepared in accordance United Kingdom Generally AC￿pted Accounting Practi￿,.
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audii in accordance with Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable
law. Our responsibililies under those standards are further described in the Auditorfs responsibilities for the audit of
the financial statements section of our report. We are independent of the National Zoological Society of Wales in
accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK,
including the FRC'S Ethical Slandard, and we have fulfilled our other ethical responsibilities in accordance with
these requirements. We believe that the audit evidence we have obtained is SLrfficient 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 concern 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
condilions that, individually or collectively, may cast significant doubt on the National Zoological Society of Wales's
ability to continue as a going concem for a period of at least Iwelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant seclions of this report.
Other information
The other information comprises the infomiation induded in the annual report other than the fina￿la1 statements
and our auditorfs report thereon. The Tnjstees are responsible for the other information contained within the annual
report. Our opinion on Ihe financial statements does not cover the other informalion and, except to the extenl
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our
responsibility is to read the other infomialion 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 othetwise appears
to be materialty misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to delermine whelher this gives rise to a material misstatemenl in the financial statements Ihemselves. If,
based on the work we have perfomied, we condude that there is a material misstatement of this other information,
we are required to report that fact.
We have nothing to report in this regard.
10-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in Ihe course of our audit=
the infomiation given in the Trustees report for the financial year for which the financial statements are
prepared, which includes the directors. report prepared for the purposes of company law. is consistent with the
financial statements., and
the directors, report included within the Trustees report has been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the National Zoological Soaety of Wales and its environment
obtained in the course of the audit. we have not identified material misststements in the directors, reporl included
within the Trustees report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires
us to report lo you if, in our opinion..
adequate accounting records have not been kept. or retums adequate for our audit have not been received
from branches not visited by us., or
the financial statements are not in agreement with the accounting records and retums- or
certain disclosures of trustees. remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit- or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advanlage of the small companies, exemptions in preparing the Truslees report and from the
requirement to prepare a strategic report.
Responsibilities of Trustees
As explained more fully in the statement of Trustees responsibililies, the Trustees. who are also the directors of the
National Zoological Society of Wale5 for the purpose of company law, are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the
Truslees detemiine is necessary to enable Ihe p￿paratiOn of financial statements that are free from malerial
misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for
assessing the Nalional Zoological Society of Wales's ability lo continue as a going concern, disclosing, as
applicable, matters related to going con￿rn and using the going con￿rn basis of accounting unless the Trustees
either intend to liquidate the charitable company or to cease operations, or have no realistic atternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial stalemenls as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assuran￿ bul is nol a guarantee that an audit conducled in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misslatements can arise from fraud or
error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial stalements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
11

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
Our approach to identifying and assessing the risks of material misstatement in resped of irregularities, including
fraud and non-compliance with laws and regulations, was as follows-
the engagement partner ensured that the engagement team collectively had the appropriate competen￿,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations-
we identified the laws and regulations applicable tov the cornpany through discussions with directors and
other management.,
we focused on specific laws and regulations which we considered may have a direct malerial effect on the
financial statements or the operations of the company. including the Companies Act 2006, taxation
legislalion and employment legislation.,
we assessed the extent of compliance wilh the law￿ and regulations identified above through enquires of
management and inspecting legal correspondence- and
identified laws and regulations We￿ communicated within the audtt team regularty and the team remained
alert to instances of non-compliance through the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, induding obtaining
an understanding of how fraud mighl occur, by=
making enquires of management as to where they considered there was susceptibility to fraud, Iheir
knowledge of actual. suspected and alleged fraud.,
considering the inlernal controls in place to mtligate risks of fraud and non-compliance with laws and
regulations., and
understanding the design of the company's remuneration policies.
To address the risk of fraud through management bias and override of controls. we..
performed analytical procedures to identfy any unusual or unexpecled relalionships.,
tested joumal entries to identify unusual transactions.,
assessed whether judgements and assumptions made in delemiining Ihe accounting estimates were
indicative of potential bias,. and
investigated the rationale behind significant or unusual transadions.
In response to the risk of I￿egUlaritieS and non-compliance with laws and regulations, we designed procedures
which included, but were not limited to..
agreeing financial statement disclosures to undertying supporting documentation.. and
enquiring of management as to actual and potential litigation and daims.
There are inherent limitations in our audii procedures described above. The more removed that laws and
regulations are from financial Iransaclions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit prO￿dureS required to identify non-compliance with laws and regulations to
enquiry of the direclors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that rise due to fraud can be harder to detect than these that arise from ￿ror as they may
involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https=Il
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report.
This report is made solely lo the charitable company's members, as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitaue company's
members those matters we are required to state to them in an auditor's report and for no other purpose. To the
fullesl extent pemiitted by law, we do nol accept or assume responsibility to anyone other than the charilable
company and the charitable company's members as a body. for our audit work. forthis report, or for the opinions we
have formed.
12-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
Christopher Morgans BA ACA (Senior Statutory Auditor)
For and on behalf of Sage & Company Business Advisors Ltd, Statutory Auditor
Chartered Accountants
102 Bowen Court
StAsaph Business Park
SIAsaph
Denbighshire
LL17 OJE
16 September 2025
13-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Donations and
legacies
Charitable activities
Olher trading
activities
Inveslments
Other income
25,218
2,096,826
307
8,308
25.525
2.105,134
221,588
1,903,329
261
10,613
221,849
1,913,942
366,140
114,113
86.311
366,140
114,113
86.311
344,842
61,326
75,509
344,842
61,326
75,509
Total income
2.688,608
8,615
2.697,223
2,606,594
10,874
2,617,468
enditure on:
in
Fundraising and
publicity
Trading costs
50,279
294,569
50,279
294,569
46,304
242,752
46,304
242,752
344,848
344,848
289,056
289,056
Charitable activities
2,445,457
8,308
2.453,765
2,256,043
10,613
2,266,656
Total expenditure
2,790,305
8,308
2,798,613
2,545,099
10,613
2,555,712
Net (outgoingifincoming
resources before
transfers
(101,697)
307
(101,390)
61,495
261
61,756
Gross transfers
between funds
39,932
(39,932)
39,978
139,978)
Net (expenditure)lin¢ome
for the yearl
Net movement in funds
{61,765)
{39,625) (101,390)
101,473
139,717)
61,756
Fund balances at 1 January
2024
4.300,984
773,777 5.074.762
4.199,512
813,494 5,013.006
Fund balances at 31
December 2024
4,239,219
734,152
4.973,371
4,300,985
773,777
5,074,762
The slatement of financial activities indudes all gains and losses recognised in the year.
The ststement of financial activities indudes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
14-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
The stalemenl of financial activities also complies wf(h the requirements for an income and expenditure account
under the Companies Act 2006.
15-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
14
3.536,653
3,565,189
Current assets
Stocks
Debtors
Cash at bank and in hand
15
16
107.494
130.022
1.431.277
122,409
103,449
1,554,611
1.668.793
1.780.469
Creditors: amounts falling due within
one year
18
1205.359)
1191.5331
Net current assets
1.463,434
1,588,936
Total assets less current liabilities
5.000,087
5,154,125
Creditors: amounts falling due after
more than one year
19
(26,716)
{79,363)
Net assets
4.973,371
5,074,762
The funds of the National Zoological Society of Wales
Restricted income funds
20
Unrestricled funds
21
734,152
4,239,219
773,777
4,300,985
4,973,371
5,074,762
The financial statements were approved by the Trustees on 16 September 2025
Mr R Jackson BBA CGMA
Chairnian
Company registration number 01731129 (England and Wales)
16-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
PARENT COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixed assets
Tangible assets
Inveslments
14
3.536.653
3,565,189
3.536,655
3,565,191
Current assets
Stocks
Debtors
Cash at bank and in hand
15
16
11.040
218,492
1.428.059
11.039
206,926
1.554,611
1.657.591
1.772.576
Creditors: amounts falling due within
one year
18
(197.377)
(183,642}
Net current assels
1.460,214
1,588,934
Total assets less current liabilities
4.996,869
5.154,125
Creditors: amounts falling due after
more than one year
19
{26.7161
179,363)
Net assets
4,970,153
5,074,762
Income funds
Restricted funds
Unrestricled funds
20
734,152
4,236,001
773,777
4,300,985
4,970,153
5,074,762
The financial statemenls were approved by the board of directors and authorised for issue on 16 September 2025
and are signed on its behalf by..
Mr R Jackson BBA CGMA
Chaimian
Company Registration No. 01731129
17-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
24
21,080
269,459
Investing activities
Purchase of langible fixed assets
Investment income received
(206,924)
114.113
(179,7991
61.326
Net cash used in investing activities
192.811)
{118,473)
Financing activities
Repayment of borrowings
(51.603)
{57,0121
Net cash used in financing activities
(51,603)
{57,012)
Net Idecreasellincrease in cash and cash
equivalents
(123,334)
93,974
Cash and cash equivalents at beginning of year
1,554,611
1,460,637
Cash and cash equivalents at end of year
1,431,277
1,554,611
18-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Donations and gifts
25,218
307
25,525
221,588
261
221,849
Income from donations, legacies and grants. including capiial grants. are included in incoming re9jur￿S
when these are receivable.
When donors specify that donations, legacies and grants. including capital grants. are for particular restricted
purposes, which do not amounl to pre-condilions regarding enlitlement, this income is included in incoming
resources of restricted funds when receivable.
Accounting policies
Company infomiation
National Zoological Society of Wales Limiied is a private company limited by guarantee incorporated in
England and Wales. The regislered office is Welsh Mountain Zoo, Old Highway, Colwyn Bay, LL28 5UY.
2.1 Accounting convention
The accounts have been prepared in accordan￿ with the National Zoological Society of Wales's governing
documents,
the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to chartties preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting
periods commencing from 1 January 2016). The National Zoological Society of Wales is a Public Benefit
Entity as defined by FRS 102.
The financial statements have departed from the Charities {Accounts and Reports) Regulations 2008 only lo
the extent required to provide a true and fair view. This departure has involved following the Statement of
Recommended Praclice for charities applying FRS 102 rather than the version of the Slatement of
Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterfing. which is the funclional currency of the National Zoological
Society of Wales. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention. modified to include the revaluation of
freehold properties and to include investment properties and certain financial inslrumenls al fair value. The
principal accounting policies adopted are set out below.
The charity has elected not to include a parent entity statement of financial activities within tFEse consolidated
accounts.
2.2 Going concern
At the time of approving ihe finanual slatements. the Twstees have a reasonable expectalion that the
National Zoological Society of Wales has adequate resources to continue in operational existence for the
foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing
the financial statements.
2.3 Charitable funds
Unreslricled funds are available for use al the discretion of the Trustees in furtherance of their charitable
objectives.
19-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
Restricted funds are subject to specific condilions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject lo specific conditions by donors that the capital must be maintained by the
National Zoological Society of Wales.
2.4 Incoming resources
Income is recognised when the National Zoological Society of Wales is legally entitled to it after any
perfomiance conditions have been met, the amounts can be measured reliably, and it is probable that income
will be received.
Cash donations are recognised on receipt- Other donations are recognised once the National Zoological
Society of Wales has been notified of the donalion, unless perf0mlan￿ conditions require deferral of the
amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is
recognised al the time of the donation.
Income from donations, legacies and grants. including capiial grants. are included in incoming resources
when these are receivable.
Vvhen donors specify that these are for particular restricted purposes. which do not amount to pre-conditions
regarding enlitlement, this income is included in incoming resources of restricted funds when receivable.
Zoo annual membership income is deferred and released over the period the service is provided.
2.5 Resources expended
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price
unless the arrangemenl constilutes a financing transaction, where the debt instrument is measured at Ihe
present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequentty
carried al amortised cost, using the effeclive interest rate method.
Trade payables are obligations to pay for goods or ServI￿S that have been acquired in the ordinary course of
operalions from suppliers. Accounls payable are classtfied as current liabilities if payment is due within one
year or less. If not, they are presented as non-CU￿e￿t liabiliti'es. Trade payables are recognised initially at
transaction price and subsequenlly measured al amortised cost using the effective interest melhod.
2.6 Tangible fixed assets
Tangible fixed assets are initialty measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairrnent10sses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Land and buildings
Building improvements
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Silk Road Projecl
New toilet block
4¥0 Straight line
10°/o Straighl line
150h reducing balan
10 /0 reducing balance
250A reducing balan
4°/0 Straight line
4 % straight line
The gain or loss arising on the disposal of an asset is detemiined as the difference belween Ihe sale
proceeds and the carrying value of the asset. and is recognised in the statement of financial activities.
-20-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
Costs incurred in respect of projects under conslruclion a￿ capitalised. The assets held are not depreciated
and won't be until such time that the project has been fuffilled and offers a Sour￿ of future economic inflows
to the enlity.
2.7 Impaimient of fixed assets
Al each reporting end date, the National Zoological Society of Wales reviews the carrying amounts of its
tangible and intangible assets to detemiine whether there is any indication that those assets have suffered an
impairment loss. If any such indication exists. the recoverable amount of the asset is estimated in order to
detemiine the extenl of the impaimient loss.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,
the estimated fulure cash Ilows are discounted to their present value using a pre-tax discount rate thal reflecls
current market assessments of the time value of money and the risks specific to the asset for which the
eslimates of future cash flows have not been adjusted.
If the recoverable amount of an asset is estimated to be less than f(s carrying amount, the carying amount of
the assel is reduced to its recoverable amount. An impaimient loss is recognised immediatety in incomel
expenditure for the year. unless the relevant asset is carried at a revalued amount. in which case the
impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed rf, and onty rf. the reasons for the impairment loss have ceased
to apply. Where an impaimenl loss subsequentty reverses, the carrying amounl of the asset is increased lo
the revised estimate of its recoverable amount, but so that the increased carying amount does not exceed
the carrying amount that would have been detemined had no impaiment loss been recognised for the asset
in prior years. A reversal of an impaimenl loss is ￿COgnised immediately, unless the relevant asset is carried
in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluatKJn
increase.
2.8 stocks
Stocks are stated at the lower of cost and estimated selling Pri￿ less costs to complete and sell. Cost
comprises direct materials and, where applicable. direct labour costs and those overheads that have been
incurred in bringing the stocks lo their present location and condition.
Net realisable value is the estimated selling price less all estimated costs of complelion and costs to be
incurred in marketing, selling and distribution.
2.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
2.10 Financial instruments
The National Zoological Society of Wales has elected to apply the provisions of Seclion 11 'Basic Financial
Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the National Zoological Society of Wales's balan￿ sheet when the
National Zoological Society of Wales becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an inlenlion to settle on a
net basis or to realise the asset and settle the liabilty simultaneousty.
21

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initialty measured at
transaction price including transaction costs and are subsequentty carried at amortised cosl using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at Ihe present value of the future re￿iptS discounted at a market rate of interest. Financial assets
classified as receivable within one yeai are not amortised.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, are initialty recognised at transaction price
unless the arrangement constitules a financing transaclion. where Ihe debl inslrumenl is measured at the
present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequentty
carried at amortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or ServI￿S that have been acquired in the ordinary course of
operalions from suppliers. Accounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at
transaction price and subsequentty measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the National Zoological Society of Wales's conlraclual obligalions
expire or are discharged or cancelled.
2.11 Ernployee benefits
The cosl of any unused holiday entiuement is recognised in the period in which the employee's services are
received.
Temiination beneffts are recognised immediately as an expense when the National Zoological Society of
Wales is demonstrably committed to terminate the employment of an employee or to provide termination
benefits.
Income from charitsble aclivities
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Operations of Zoo
Sale of goods
2,0￿,626
8,308 2,105,134
1,903,329
10,613
1,913,942
Income from other trading activities
Unrestricted Unrestricted
funds
funds
2024
2023
Non-charilable trading activilies
366,140
344,842
-22-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from other trading activities
(Continued)
The Zoological Society of Wales Trading Company Limtted is a wholw-owned trading subsidiary, registered in
England & Wales under company registration number 02919513. It operates a gifl shop within the zoo
grounds and donates all profits lo Ihe parent charity by Grfl Aid. In addilion to this donation, Ihe company pays
an annual management charge of£21.000 to the society as a contribution to tts overhead5.
The inveslment policy with regard to this subsidiary is the recognttion at cost value onty. An arn￿nt of
£88,46912023.' £103,476) owed to the parent by the subsidiary is included within debtors.
Income from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Rental income
Interesl receivable
75,883
38,230
52,917
8,409
114,113
61,326
Other income
Unrestricted Unrestricted
funds
funds
2024
2023
GiftAid on admissions
86,311
75,509
Expenditure on raising funds
Unrestricted Unrestricted
funds
funds
2024
2023
Fundraising and publicity
Seeking donations, grants and legacies
50,279
46,304
Trading costs
other trading activities
Staff costs
Support costs
182,697
108,207
3,665
155,618
84,934
2,200
294,569
242,752
Total costs
344,848
289,056
-23-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on charitable activities
Zoo
activities
2024
Zoo
activities
2023
Direct costs
staff costs
Depreciation and impairment
Feed and bedding
Rates and water
Light and heal
Veterinary fees
Livestock acquisition and transport
Property maintenance
Garden
Donations - In situ conservation
1,191,903
235,458
170,987
68,249
108,205
84,787
800
198,561
16,040
12,705
1,102,127
243,989
149,070
46,004
91,437
62,662
2,055
189,461
18,449
16,997
2.087,695
1,922,251
Share of support and governance costs (see note 10)
Support
Governance
352,270
13,800
338,405
6,000
2.453,765
2,266,656
Analysis by fund
Unrestricted funds
Restricled funds
2,445,457
8,308
2,256,043
10,613
2.453,765
2,266.656
Net movement in funds
2024
2023
The net movement in funds is stated after chargingl(creditingl=
Fees payable for the audit of the charity's finan￿al statements
Depreciation of owned tangible fixed assets
13.800
235,458
6,000
243,989
-24-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Support costs
Support Govemance
costs
2024
Support Govemance
costs
costs
2023
Telephone
Insuran
Printing, postage and
stationery
Motor and travel
Sundry expenses
Bank charges, bank
interest and credil card
fees
Legal and professional
Subscriptions
Audit, accountancy and
payroll
Irrecoverable VAT
10,939
75.964
10,939
75.964
11,008
75.945
11,008
75,945
19.506
22,364
22.078
19.506
22,364
22.078
24,527
18,223
19.563
24,527
18,223
19,563
26,212
23,706
28.417
26.212
23.706
28.417
21,780
27,854
23,485
21,780
27,854
23,485
28.538
94,547
28.538
94,547
29,659
86,362
29,659
86,362
Audit fees
17,465
17,465
8,200
8,200
352,271
17,465
369,736
338,406
8,200
346,606
Analysed between
Trading
Charitable activities
3.665
13,800
3.665
366,071
2,200
6,000
2,200
344,405
352,271
338,406
352,271
17,465
369,736
338,406
8,200
346,606
Governance costs includes payments to the auditors of £17.465 {2023- £8.200) for audtl fees.
11 Trustees
None of the Trustees {or any persons connected with Ihem) received any remuneration during the year.
Trustees expenses paid in the year totalled £36512023.. £3651.
12 Employees
The average monthly number of employees during the yearwas..
2024
Number
2023
Number
Administration
Keepers
Maintenance and gardens
Seasonal workers
19
13
18
12
10
Total
43
48
-25-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Employees
(Continued)
Employment costs
2024
2023
Wages and salaries
1,300,110
1,187,061
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key rnanagement personnel was as follows=
2024
2023
Aggregate compensation
125,732
160,465
13 Taxation
Owing to the organisations charitable status. no provision has been made for corporation tax.
14 Tangible fixed assets
Land and
buildings
Plant and
maehinèry
Motor
v•hielès
Total
Cost
Al 1 January 2024
Additions
5,209.837
176,734
638,878
30,188
57,877 5,906,592
206,922
At 31 De￿mber 2024
5,386,571
669,066
57,877
6,113,514
Depreciation and irnpainnent
At 1 January 2024
Deprecialion charged in the year
2,001,580
176.494
318,763
49,760
21,060 2,341,403
9,204
235.458
Al 31 December 2024
2,178.074
368,523
30,264 2,576,861
Carrying amount
At 31 De￿mber 2024
3,208.497
300.543
27,613 3,536,653
At 31 December 2023
3,208.257
320.114
36,817 3,565,188
All tangible fixed assets are owned by National Zoological Society of Wales Limited, and as such these assets
are that of both parent and consolidated group.
-26-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Stocks
2024
2023
Raw materials and consumables
Finished goods and goods for resale
11,039
96.454
11,039
111,370
107,493
122,409
16 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
56.282
73,740
29,829
73,620
130,022
103,449
17 Loans and overdrafts
2024
2023
Other loans
79,356
130,959
Payable within one year
Payable after one year
52.640
26,716
51,596
79,363
HSBC Bank plc retains a first legal charge dated 17 March 2002 over leasehold land and buildings at the
Flagstaff Estate, Colwyn Bay, and a first legal charge dated 22 September 1997 over freehold propety land
on the Northerfy side of the Old Highway road from Mochdre to Colvryn Bay adjoining Tower Lodge, Colwyn
Bay.
On 26 May 2020 a legal charge was created in favour of Dbw Investments {10) Limited securing all monies
due or to become due from the Charity on all freehold property and fixed assets both present and future.
18 Creditors: amounts falling due within one year
2024
2023
Borrowings
Other tsxation and social security
Trade creditors
(Xher creditors
Accruals and deferred income
52.640
21,859
2.594
65,935
62.331
51,596
23,476
19,888
87,073
9,500
205.359
191,533
-27-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Creditors: amounts falling due after more than one year
2024
2023
Borrowings
26,716
79,363
20 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to spectfic conditions by donors as to how they may be used.
At 1 January
2024
Incoming
resources
Resources
expended
Transfers
At31
December
2024
773,777
8.615
(8,308)
(39.9321
734,152
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At31
December
2023
813,494
10.874
(10,613)
(39.9781
773,777
21 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subjecl to specific conditions by donors and grantors as lo how Ihey may be used. These include
designated funds which have been set aside out of unrestricted fijnds by the trustees for specific purposes.
At 1 January
2024
Incoming
resources
Resources
expended
Transfers
At31
December
2024
General funds
4.300,986
2.688.608
12,790,305)
39.932
4,239,221
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
Transfers
At31
December
2023
General funds
4,199,512
2.606.594
12,545,099)
39,978
4,300,985
-28-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Capital commitments
2024
2023
Amounts contracted for but not provided in the financial statements..
2024
2023
Acquisition of property, planl and equipment
804,585
23 Analysis of net assets between funds
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Fund balances at 31
December 2024 are
represented by..
Tangible assels
Current assetsllliabilities}
Long temi liabilities
2,802,501
1.463,433
{26,715)
734,152
3,536,653
1.463.433
(26,715)
2,791,411
1,588.936
(79,363}
773,777
3,565,188
1,588,936
{79,363)
4,239,219
734,152
4,973,372
4,300,984
773,777
5,074,761
Restricted funds during the period related to restricted donations and depreciation of fixed assets.
24 Cash generated from operations
2024
2023
IDeficit)Isurplus for the year
1101,3901
61,756
Adjustments for:
Inveslment income recognised in ststement of finanaal activities
Depreciation and impaimient of tangible fixed assets
{114.1131
235,458
{61,326)
243,989
Movements in working capital:
Decreasellincreasel in stocks
Ilncrease) in debtors
Increase in creditors
14,916
(26.5731
12,782
{30,474)
{17,2531
72,767
Cash generated from operations
21,080
269,459
-29-

NATIONAL ZOOLOGICAL SOCIETY OF WALES LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
25 Analysis of changes in net funds
At 1 January
2024
Cash flows At 31 December
2024
Cash at bank and in hand
1.554.611
(123.3341
1,431,277
Loans falling due within one year
Loans falling due after more than one year
(51,596)
(79,363)
(1,0441
52.647
{52,640)
{26.716)
1.423,652
(71.7311
1,351,921
26 Subsidiaries
These financial statements include the result5 of the wholty owned trading subsidiary, Zoological Society of
Wales Trading Company Limited on a line by line basis.
Name of undertaking." Zoological Society of Wales Trading Company Limited
Company registration number: 02919513
Country of incorporation: United Kingdom
Holding: 1004/0 of 2 ordinary shares in issue
Principal Activity- Sale of zoological goods and souvenirs
For Ihe year ended 31 December 2024 Ihe trading subsidiary had revenue of £366,140, and after donaling its
surplus to the parent via Gift Aid, had an operating profit of £0.
-30-