Registered number: 08250951 Charity number: 1150158

THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

CONTENTS

Page

Reference and administrative details of the charity, its trustees and advisers 1

Chairman's statement 2 - 3

Trustees' report 4 - 16

Independent auditors' report 17 - 19

Consolidated statement of financial activities 20

Consolidated balance sheet 21

Company balance sheet 22

Consolidated statement of cash flows 23

Notes to the financial statements 24 - 44 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2018

Trustees T W Stevenson, Chairman M O Brown J C Pearson R J Chaplin (resigned 20 January 2018) Miss W A Fenwick (resigned 25 May 2018) F E Barrelet G F Smith J J Goodson (appointed 9 February 2018) A Hassan

The Trustees are also Directors of the Company.

Company registered number

08250951

Charity registered number

1150158

Registered office

The Grove, Banham, Norwich, Norfolk, NR16 2HE

Chief executive officer

M Goymour (Chief executive officer until 30 April 2018) Professor D Field (Chief executive officer from 1 May 2018)

Senior management team

K Griffin, Finance Officer G Batters, Director of Conservation and Education M D Dupée, Director of Operations

Independent auditors

Larking Gowen LLP, King Street House, 15 Upper King Street, Norwich, NR3 1RB

Bankers

Lloyds Banking Group plc, 3 Queen Street, Norwich, NR2 4SG

Page 1 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2018

The Chairman is pleased to present his statement for this, our fifth year of operation.

I have previously remarked on ZSEA’s constant demand for cash. That observation was triggered in the first instance by our experience in the reconstruction of the sea lion pool at Banham. The project was undertaken on the grounds of animal welfare. The old facility was no longer fit for purpose. The Trustees approved the project with an agreed budget of £500,000. The pool project has finished up costing in excess of £650,000 with that figure still rising. The lack of discipline has cost ZSEA dear and will do so for longer yet. The Trustees have learned from this overspend and have taken steps to ensure that capital projects like this cannot in future exceed budget but ZSEA will for some while yet bear the burden of this overrun. Our cash reserves were significantly diminished but with support from our Bank at Lloyds and from our staff we are back stable. This experience is a part of our learning process as we move to a regional and in due course a nationally influential and recognized charitable institution.

The first half of 2018 saw sunshine and benevolent trading conditions. David Field our new Chief Executive completed his first year of appointment after working for the first 3 months in tandem with Martin Goymour. David has been instrumental in introducing with our Finance Officer Kevin Griffin, structured financial controls and beginning to plan our Mission and Strategy. Reviews of our Retail and Catering were begun and I hope next year to report on progress in these departments. A major test of David’s organizational skills was the completion of our most successful ever fund raising venture the 50th Anniversary celebrations. Over £18,000 was raised in celebration of our Banham’s 50th birthday. £25,000 is planned to be donated to the appeal to support tiger conservation in Kerinci Seblat National Park in Sumatra. Thanks to David and Martin for their energy and to our sponsors, our suppliers, staff and all concerned in a very generous and enjoyable “bash”. Next year will be the 50th birthday of Africa Alive! and again we have a targeted a major charitable contribution of £25,000 this time in support of the Rhinoceros – a herd of which we have at AA!

The Zoological Society of East Anglia continues to exercise its influence, well beyond our East Anglian base. Gary Batters remains as Chairman of the AEECL (The Lemur Conservation Association). Based in Madagascar this organization receives many thousands of pounds support from ZSEA, much in kind (Gary’s time, travelling expenses etc.) in the international efforts to protect the home of the Lemur which are so well represented in our collection. As part of our mission we take a lead locally in avoiding the use of non- sustainable palm oil, the production of which represents a serious threat to the environment of the Lemur in Madagascar. Martin Dupée works with the many local organizations and during the year has led our purchasing both for the Retail and Catering side. During the latter part of 2017 we suffered a significant set back when our “five stars” award for Banham Zoo catering was lost; under Martin’s leadership significant improvements have been made and we now await a final inspection to regain our five star catering status. Terry Horsey continues as the leader of the Captive Breeding Team for the Saola Working Group. Again ZSEA has supported his endeavours at home and overseas as part of our commitment to conservation beyond these shores.

At Africa Alive! as part of the breeding programme for blesbok antelope we received a male from Heidelberg Zoo in Germany and sent a male to Liberec, Czech Republic. A male fennec fox arrived from Attica Zoo in Greece but it was the other departures that are noteworthy, two male fossa went to Osijek in Croatia and a female went to Chester Zoo. They were all cubs from the previous year. Two black and white ruffed lemurs went to Boissiere in France and a male Chapman’s zebra headed off to Port Lympne in Kent.

The most notable birth was a critically endangered black and white lemur in June but as pleasing was the birth of five rock hyrax, not the easiest species to breed in captivity, a Western Black and white colobus monkey and two serval kittens.

The major event of 2018 at Banham Zoo was the arrival of the Californian sealions, two females from Biljdorp Zoo Rotterdam and Zoo Karlsruhe, which was followed in March by a male and 2 females from Blackpool Zoo. A female pup was born in June which sadly died at an early age.

Other animal movements in support of the captive breeding programmes, included an exchange of male hooded vultures with The Hawk Conservancy in Hampshire and arrival of an African White backed vulture.

Page 2 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2018

Both species are critically endangered. Similarly Banham Zoo exchanged male pygmy marmosets with Shepreth Wildlife Park and male silvery marmosets with Apenheul Zoo in Holland. In June Blackpool Zoo sent two female black headed spider monkeys, again critically endangered, to join our very successful group. Another baby was born in November but is as yet unsexed. At the end of the year we sent our herd of 32 sika deer to the Highland Wildlife Park, near Aviemore.

Our breeding programme, which is a part of a world wide Zoo based conservation effort keeps strong the gene pools of endangered species; in the long term this will we hope provide a spring board towards supporting the wild population of many endangered species.

During the year we became the subject of an HMRC inspection into a number of aspects of our early establishment. As required matters have been reported to the Charity Commission. We continue to answer as far as we are able questions that are raised by HMRC. I and the Trustees are fortified knowing that as a Trust body we have acted throughout the establishment conscientiously, without any benefit to ourselves to establish and take forward ZSEA forward.

Again during the year I have been humbled throughout by the support, loyalty and goodwill and kind nature of our staff. There are plenty of opportunities (and sometimes reasons!) to complain; but we are extremely fortunate in tolerance and goodwill. There can be few more rewarding jobs than working outside with wildlife; but that has to be done throughout the year in all weathers. If more of our population had the interest and commitment to conservation, education and our environment as our staff the world would I believe be a much better place.

2018 was a year during which we celebrated but most importantly put down foundations for the future. We are now contemplating Strategies and Mission commitments. We are reviewing our Retail and Catering operations. We are bringing in expert assistance and learning from others. Going forward I am optimistic for our future and again I should like to thank my colleague Trustees for their ongoing support and time freely and generously given to the Zoological Society of East Anglia.

Name Tim Stevenson Chairman

Date 10 May 2019

Page 3 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2018

The Trustees present their annual report together with the audited financial statements of the Group and the Company for the 1 January 2018 to 31 December 2018. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).

Objectives and Activities a. Policies and objectives

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and have complied with their duties in accordance with the Charities Act.

1.1 The charity's objects (the Objects) are:

1.1 (a) the advancement of education and zoology and related subjects by: i) inspiring stimulating encouraging and sustaining interest and enthusiasm in the general public in zoology and the knowledge and study of animals and other wildlife by establishing and running one or more zoological gardens or similar scientific exhibition. ii) promoting and carrying out scientific study and research into animals and other wildlife and natural history and related scientific fields in particular where such study and research could help the conservation of species and habitats and the maintenance and restoration of natural habitats; iii) inspiring and engaging with the general public in matters relating to the living world and the environment and general environmental protection.

1.1(b) the advancement of animal welfare by: i) promoting and carrying out scientific study and research into animals and other wildlife and natural history and related scientific fields in particular where such study and research could help the conservation of species and habitats and the maintenance and restoration of natural habits; ii) promoting and contributing to and supporting the conservation of animals and wildlife and in particular threatened species; iii) promoting and contributing to and supporting conversation programmes both in situ and ex situ; iv) inspiring and engaging interest of the general public in animals and wildlife and in particular threatened species; v) promoting and contributing to the conservation of animals and other wildlife, biodiversity and natural habitats in the UK and worldwide; vi) the appropriate breeding and or maintaining of endangered animals and threatened species and other wildlife; vii) establishing and running one or more zoological gardens or similar scientific exhibitions.

Page 4 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018

1.1 (c) the advancement of environmental protection by: i) promoting and contributing to and supporting the conservation of animals and other wildlife and in particular threatened species; ii) inspiring and engaging interest of the general public in conservation of animals and other wildlife and in particular threatened species; iii) promoting and contributing to the conservation of animals and other wildlife, biodiversity and natural habits in the UK and worldwide; iv) engaging with the general public in matters relating to the living world and environment and general environmental protection; v) promoting and contributing to and supporting conservation programmes both in situ and ex situ.

1.1(d) the advancement of such other charitable objects and purposes as the Trustees may in their sole discretion determine from time to time. b. Activities for achieving objectives

The charity has carried out the following activities that contribute towards its objectives:-

· support of in-situ conservation of species and habitats worldwide, both directly and in partnership with similarly minded organisations; · management of assurance populations of endangered species; · management of studbooks to ensure sustainable and genetically diverse captive populations of endangered species; · operation of our zoological parks with informative interpretation materials and public talks; · provision of education classroom sessions for schools as part of their visit to the zoos; · development of new and improved visitor attractions at both parks. · c.•••••• Main activities undertaken to further the charity's purposes for the public benefit

The Trustees comply with their duty to have due regard to public benefit guidance published by the Charity Commission.

Public benefit arises from our work in the areas of education, animal welfare and environmental protection. In 2018 some 347,000 visits were made by members of the public to our zoo parks. In setting the price structure for our admission fees we have due regard to concessionary prices for children, senior citizens and those with disabilities.

Page 5 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018

Strategic report

Achievements and performance a. Financial Performance

The consolidated balance sheet of the group at 31 December 2018 is shown on page 21, with the consolidated income and expenditure account on page 20 and the consolidated statement of cash flows on page 23.

The group made a loss in the year of £39,412 (2017: £23,011 profit), with increases in the cost of maintaining the animal collection offsetting the benign weather, and resultant positive visitor numbers, of the opening six months. The group’s net assets have decreased by £39,412 (2017: increase £23,011) reflecting the loss made during the year. Net current liabilities have increased by £199,086 (2017: £116,011 ), primarily reflecting the increase in deferred income relating to annual season ticket sales.

The key financial performance indicators are the weekly number of visitors and their spend per head. b. Review of activities

Development Highlights of 2018

Overall new capital investment was minimised in 2018 to allow for completion of existing projects and longer term planning exercises.

Banham Zoo

The major event of 2018 was clearly the completion of the sea lion pool, naturally we needed sea lions to make it complete and in February, after a great deal of work we imported two females from Biljdorp Zoo Rotterdam and Zoo Karlsruhe. This was followed in March by a male and 2 females from Blackpool Zoo. We were obviously delighted when a female pup was born in June but sadly the pup died at an early age. As part of the international work to improve the genetic mix of the captive population of Emperor tamarins, ZSEA donated a great many hours of staff time coordinating the transfer of a number of animals from zoos across the UK to Banham and then the transport of two males and four females to Dallas Zoo in USA.

Many of the other animal movements were in support of captive breeding programmes, we exchanged male hooded vultures with The Hawk Conservancy in Hampshire and also received an African White backed vulture at the same time. Both species are critically endangered. Similarly, we exchanged male pygmy marmosets with Shepreth Wildlife Park and male silvery marmosets with Apenheul Zoo in Holland. In June Blackpool Zoo sent two female black headed spider monkeys, again critically endangered, to join our very successful group. Another baby was born in November but is as yet unsexed. At the end of the year we sent our herd of 32 sika deer to the Highland Wildlife Park, near Aviemore. The keepers were very relieved that all the animals travelled well on what was a long road journey.

Sea Lion Project As mentioned above the significant project completed was Sealion Bay which has proved very popular with visitors and was the main marketing lead for 2018.

Vulture Breeding Aviary The vulture breeding aviary was also completed and has already proved successful.

Page 6 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018

Pavilion Café Improvements The Pavilion Café was also completed for Easter and included some significant initiatives towards our sustainability objectives which included the removal of all single use plastics and the introduction of vegware cutlery.

Africa Alive!

Africa Alive! did not have quite as many animal transfers as Banham, however as part of the breeding programme for blesbok antelope we received a male from Heidelberg Zoo in Germany and sent a male to Liberec, Czech Republic. A male fennec fox arrived from Attica Zoo in Greece but it was the other departures that are noteworthy, two male fossa went to Osijek in Croatia and a female went to Chester Zoo. They were all cubs from the previous year. Two black and white ruffed lemurs went to Boissiere in France and a male Chapman’s zebra headed off to Port Lympne in Kent.

The most notable birth was a critically endangered Black and white lemur in June but we were also pleased with the births of five rock hyrax, not the easiest species to breed in captivity, a Western Black and white colobus monkey and two serval kittens.

The cycle of life means we also have deaths within the animal collection, the keeping staff were particular saddened to lose two aardvarks in July although both were very long lived, the female, Ellie, at nearly 20 years and the male, Quigley, at nearly 26 years old. Another passing was our female blue eyed black lemur who was an impressive 25 years old.

Lakeside Sheep Paddock and Extension of Water Buffalo Enclosure Work commenced to run a path around the back of the lake, extend the water buffalo grass area, and create a new paddock for the Cameroon sheep. Considerable work was put into the placement of fence posts and the line of the path, and work will be completed in 2019. This will give guests access to areas not accessible to visitors for many years, as well as animal viewing in a very natural area.

Parks & Gardens Both Africa Alive! and Banham are set in beautiful parks/gardens, themselves a great attraction and source of bio-diversity. In 2018 the team looked at ways to enhance the biodiversity at both Parks with the idea for 2019 to reduce the amount of onsite grass cutting, leaving larger areas to nature.

Health, Safety & Security The Health, Safety and Security of our customers, staff and, of course, the environment and animals in our charge is paramount in all we do.

ZSEA operates in a varied and dynamic environment that is actively managed through our health and safety policies and of course our ZSEA risk management approach at both parks.

ZSEA has a highly experienced team with significant expertise in our field. The department prides itself in putting safety first. Documented full site visits are carried out on a weekly basis with a particular emphasis on peak times of operation. Whilst carrying out these inspections engagement with staff and encouraging feedback is essential. All accidents, however minor, are recorded, investigated and action taken as required to reduce the likelihood of any re-occurrence.

Zoo Licensing At the end of October Banham Zoo had a full government Zoo Licensing Inspection, this has to be carried out at least 6 months before the expiry of the licence in July 2019. We were pleased with the inspector’s comments that they had a high level of confidence in the management of the zoo and our future plans. The inspection team also commented on some significant investment at flamingos, prairie dogs, sea lion enclosure and new vet facilities.

Page 7 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018

European Association of Zoos and Aquaria Accreditation Inspections At the end of May both Africa Alive! and Banham Zoo underwent a vigorous inspection of all our areas of operation in our quest to become accredited members of the European Association of Zoos and Aquaria (EAZA). The process required an inspection by an EAZA officer and two very experienced zoo professionals over 3 full days. ZSEA will need to send two follow up reports updating EAZA how we are addressing any matters that were raised with a final judgement being made on whether we have made the grade in September 2019. Should ZSEA succeed we will be acknowledged as operating at the very highest levels of zoos in Europe.

Raising Funds

Overview Maintaining two parks to the constantly improving standards we set means that most admission income is spent on the day-to-day animal care and welfare cost. This means that funding to support our conservation work both at Banham Zoo and Africa Alive! as well as overseas, has to be supplemented from other sources.

One of the major strategic priorities for the Zoological Society of East Anglia (ZSEA) over the coming few years is to significantly expand the income generated from fundraising and development activities. In December 2017 a grant of £18,644 was received from the Postcode Lottery for the purchase of an Outreach Education van which was purchased in 2018.

A total of £10,770 was received in various grants from individuals and trusts and foundations towards education projects, animal care and accessibility. A fund raising gala raised £18,000 in support of tiger conservation. ZSEA is most grateful to all those who support our work.

Our fundraising activity is carried by core staff and ZSEA does not employ professional telephone or street fundraisers or commercial participators to carry out our fundraising activities.

ZSEA complies with all relevant statutory regulations including the Charities Act 2011, The Data Protection Act 2018 and the Privacy and Electronic Communications Regulations 2003. ZSEA always seek to act in ways that are legal, open, honest and respectful – striving for best practice, including being registered with the Fundraising Regulator, and adhering to its Code of Fundraising Practice and Fundraising Promise. ZSEA is careful to monitor all fundraising activities and provide supports with help and information via our websites, by email, phone or post.

ZSEA will respond to all complaints and received no complaints in relation to our fund raising activities in 2018

Conservation Support As highlighted in the Chairman’s Report, Gary Batters continued his role as President of the Lemur Conservation Association.

An international Saola Working Group meeting was hosted and supported by Africa Alive!. This significant meeting brought together experts from across the globe to plan for the next stages of saola conservation.

ZSEA raised over £29,000 in support of conservation in 2018 which will be distributed to support our conservation activities including a specific £25,000 commitment towards Wild Cats Alliance.

Native Species. In 2018 we held a Bioblitz event at both Africa Alive! and Banham Zoo. In April we held a 24 hour bioblitz at Banham Zoo – the second time we have held such an event here. We were joined by a whole host of county recorders and specialists from groups including from the Norfolk and Norwich Naturalists society, NBIS (Norfolk Biological Information Service) and the Great Yarmouth Naturalists Society. Our experts joined zoo staff to survey as much native wildlife as we could find on site and build on the records generated during our first bi-annual Bioblitz in 2016.

Africa Alive! held our fifth Bioblitz in July 2018, and this time we were focusing specifically on minibeasts – Page 8 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018 especially dragonflies and damselflies as Africa Alive! is home to an impressive array of Odonata and we were seeking to confirm as many species records as possible.

Africa Alive! - During the 2018 ‘minibeast’ Bioblitz we recorded 128 species – of which 41 were ‘new to site’ records. These included the grayling butterfly and the Norfolk hawker dragonfly, both UK Biodiversity Action Plan species. This takes the number of species found on site to 866.

Of the 866 species, there are a number of species of interest including 6 species of bat, 20 species of Odonata and over 200 species of Lepidopterans.

Banham Zoo - Over 340 species were recorded during the 2018 Bioblitz with 225 of these ‘new to site’ records.

Of this there are a number of stand out records, including great-crested newts, 62 species of beetles, 28 species of mollusc and 30 species of arachnid.

Research 2018 In 2018 the Zoological Society of East Anglia participated in 25 research projects, ranging from Diploma to Post Doctoral level. These projects give students valuable experience and aid their education but many also have practical applications in zoo biology, including advancing the effectiveness of captive breeding programmes and improving animal husbandry. A small number of project examples are given below:

Behaviour, ecology and genetics of Galago senegalensis in East Africa. Grace Ellison, PhD, Manchester Metropolitan University.

Nutritional breakdown and comparison of captive diets for Temminck’s Tragopan (Tragopan temminckii) across UK collections Jake Wilkins, BSc Zoo Biology, Sparsholt College.

Determination of Vertebral Heart Scale in Hunting Dogs (Lycaon pictus). Luke O’Connor, MSc, Bristol Veterinary School.

A multi-institutional study on environmental factors affecting nesting and breeding success in captive Vulnerable (VU), Endangered (EN) or Critically Endangered (CR) Accipitriformes. Abbie Loader, MSc Applied Zoo Biology, Sparsholt College.

Investigation into breeding success and behavioural differences in captive southern white rhino. Amy Soanes, BSc Ecology, University of East Anglia. This project aimed to analyse whether the age, gender and period of captivity in southern white rhino influences their number of social interactions and breeding success. Observations were carried out at Africa Alive! during a period of breeding activity and excellent enclosure use data was gathered. Analysis of the data is currently underway

Discovery & Learning

Formal Education 2018 has proved to be an incredible year for the ZSEA Education team, engaging with over 19,000 guests as part of our Discovery Session and Outreach programmes. The Discovery Sessions in Banham Zoo reached an all-time high of 293 sessions (exceeding our previous record in 2015 by 23). It was also a record breaking year for Africa Alive!’s outreach programme, reaching over 5,500 people during the year.

September also saw the launch of FdSc Wildlife Conservation & Animal Management lectures for the University of Suffolk (East Coast College campus) students. These students received lectures in Zoo Animal Management at Africa Alive! and also carried out work experience placements with the Animal Management team throughout the Autumn Term. Their next module, “Conservation Education” began in January 2019.

Africa Alive! figures Page 9 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018

Africa Alive! had a great year for school bookings in the Park and the significant outreach roadshow bookings were achieved in part by a summer season booking with Potters Holiday Resort in Hoption.

2018 Figures: Africa Alive! taught 3,750 students (the highest since 2010) plus a further 5,707 in outreach. A further 4,439 students participated in self-led visits. These figures show an increase on 2017 - and in fact the taught in zoo figures are the highest since 2010.

Banham Zoo figures Banham followed on from a good 2017 with an excellent 2018. Numbers taught in zoo were the highest ever, however there was a slight drop in outreach numbers.

2018 Figures: Banham Zoo taught 8,680 students, plus a further 1,317 in outreach. We have seen a further 8,361 students took part in self-led visits.

Work Experience ZSEA has for many years provided work experience opportunities for students following animal care and conservation pathways.

Number of Work experience Students Attended Placements at ZSEA in 2018:

Outreach Education Programme The Zoological Society of East Anglia’s outreach programme provides the opportunity to spread our educational message that nature is amazing and we are part of it, and we can and should do something to protect it!

The stand out figures are that 7,024 people took part in ZSEA Outreach engagement in 2018, against a total of 2,946 in 2017 representing a 138% increase.

This included 23 primary schools, 2 high schools, 6 preschools and 7 non-school groups such as uniform groups, residential care homes and a Summer ‘Kids Club’ at the Potters Resort, Hopton and covered visits to Bury St Edmunds, Eye, Great Yarmouth, Lowestoft, Newmarket, North Norfolk, Norwich, Thetford and Wisbech.

Particularly pleasing was the donation of a new vehicle solely for Outreach work. This was kindly donated by the Post Code Lottery. After some work to add logos and animal images the van became operational in September, visiting 700 students by the end of the year and creating a very professional image.

The school sessions allowed us to engage with students on a number of topics, including STEM (Science, Technology, and Engineering & Maths), habitats and animal adaptations, conservation and biodiversity and careers. They also allowed the students to interact with a wide variety of animals including tortoises, minibeasts, snakes and small mammals, and also to get hands on with some amazing animal biofacts including skins, skulls, teeth and animal footprint casts. Page 10 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018

Visitors to Displays The Animal Training and Presentations team at Banham Zoo provide exceedingly entertaining Bird of Prey displays and Amazing Animals presentations. However, among the laughs there are always important conservation messages and in 2018 nearly 91,000 people watched the performances.

Africa Alive! also offers bird of preys displays during holiday periods and their content is based around our education principles of connecting people with nature and inspiring an interest in animals.

No separate charge is made for these features which add to the visitors experience and which we believe is an important part of our charitable objective.

Hands-on Experience Days In 2018 there was a big push by the teams to increase the number of experiences offered at both parks. This was positively received by our guests. Meet the gelada, armadillo and ringtail lemurs proving particularly popular. The experiences raise important funds for ZSEA but are also a great opportunity for the animal keepers to talk about their work and conservation.

Number of Guests that took Part in On the Day & Pre-booked Experiences at Banham Zoo & Africa Alive! During 2018:

During the year both parks offer a variety of events these can be tailored to meet specific needs or interests. These are run by our experienced keepers so that the learning experience and opportunity is maximised.

Page 11 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018

Volunteering at ZSEA Year upon year our volunteers continue to contribute more and more to us as an organisation. Currently we have eight different volunteering roles across both our sites and in 2018 an amazing 158 people volunteered with us. Our volunteers are amongst our best ambassadors and this shows in the fact that we saw the largest ever number of applicants for our volunteer programme – 120 in total. We feel that as many people as possible should have the chance to volunteer with us so flexibility is at the heart of what we offer, whether that means not so regular volunteering or making adjustments to roles. This is reflected in the high levels of diversity within our volunteer team.

In 2018 this team gave us over 14,000 hours of their time, the following breakdown shows how they contributed to each department:

What these figures don’t show however is the way in which each and every volunteer contributes to making ZSEA and its zoos a success. The volunteers spent over 3,000 hours engaging with our visitors in our Lemur Encounters and Eureka exhibits – making each and every one of them feel special. The information and passion that they share with all our guests is immeasurable and we look forward to continuing to build this outstanding team. c. Investment policy and performance

The charity has cash reserves available during the year which are placed on bank deposit although current interest rates provide little return. It is the plan that as reserves grow consideration will be given to alternative investment strategies. d. Factors relevant to achieve objectives

A significant factor that can affect performance and our ability to achieve objectives is the weather which can have such a direct impact on visitor numbers.

Page 12 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018

Financial review a. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. b. Financial risk management objectives and policies

The charity, being newly formed, commenced with no capital and reserves. It is therefore reliant on producing a surplus from the activities of its two zoological parks to generate cash and reserves. c. Reserves policy

The charity aims to retain reserves in order to meet its financial obligations taking into account seasonal swings in income and expenditure. Objectives have been set as follows:

• To achieve admission income equal to or greater than actual running costs • To establish cash reserves sufficient to provide for running costs of the parks for up to three months • To secure external funding to develop and improve the parks equivalent to 5% of the admission income achieved

At the end of the year, total funds stood at £1,654,751 (2017: £1,694,163), of which £39,486 was restricted (2017: £30,310) with the remainder being unrestricted. That total included tangible fixed assets of £3,800,431 (2017: £3,757,450). There was a net current deficit of £486,700 (2017: net current deficit £287,614).

In the year, the charity has not been able to increase the cash reserves which at the end of December 2018 stood at £475,612 but is planning on increasing cash reserves to move towards covering the running costs of the parks for three months which are estimated to be £1.1million. d. Principal funding

The principal source of funding continues to be from the generation of surpluses from the zoo parks and related trading activities. This is supplemented by donations from visitors, corporate bodies and a range of fundraising initiatives.

Structure, governance and management a. Constitution

The Company and the Group is registered as a charitable company limited by guarantee. The governing instrument is the Memorandum and Articles of Association.

The Zoological Society of East Anglia Limited operates Banham Zoo and Africa Alive! including the upkeep and welfare of the animals and all visitor services, conservation expenditure and expenditure on education. The company owns 100% of the share capital of ZSEA Trading Limited which covers the trading activities.

Page 13 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018 b. Method of appointment or election of Trustees

The management of the Company and the Group is the responsibility of the Trustees who are elected and co- opted under the terms of the Articles of Association. New Trustees are elected following a recruitment process which includes interviews by the Chairman and Chief Executive. Trustees retire on a three year rotational basis and may be re-elected if they put themselves forward. c. Policies adopted for the induction and training of Trustees

Training of Trustees is reviewed against individual training needs and a full introduction and induction to the organisation is given to new Trustees upon appointment. d. Remuneration policy

The trustees consider the Board of Trustees, The Chief Executive and his management team, to whom all day to day management is delegated, to be the key management personnel of the charity. The management team comprises Martin Goymour and David Field (Chief Executives), Kevin Griffin (Finance Officer), Martin Dupée (Director of Operations) and Gary Batters (Director of Conservation and Education).

All members of the Board of Trustees give their time voluntarily and receive no financial benefits from the charity. Management remuneration is reviewed annually by reference to performance and a number of industry reference sources. It is agreed by the Board of Trustees. e. Organisational structure and decision making

The Full Board normally meets four times a year to review strategy and performance. There are three Trustee- led committees which report to the Full Board – Finance, Estates and Governance (which includes animal welfare, ethics and conservation). Further to the requirements laid down by the Charity Commission regarding the reporting and understanding of the public benefit, the Charity’s strategies and activities are tested against the overall objectives of the organisation to satisfy Trustees that our work is relevant and accords with our overall charity endeavour.

Day to day management is delegated to the Chief Executive Officers and their Management team. f. Risk management

The Trustees have assessed the major risks to which the Company and the Group is exposed, in particular those related to the operations and finances of the Company and the Group, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. These systems and procedures are subject to regular review.

The risk register is reviewed at each trustees' meeting and updated on an ongoing basis. The key risks are the economic influences that may affect visitor numbers and income, the influences of the weather that also affect visitor numbers and operational incidents, including the risk of disease, giving rise to the closure of one or both zoo parks.

The trustees monitor the visitor numbers and income on a weekly basis and management plans are in place to counter major operational incidents.

Page 14 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2018

Plans for future periods a. Future developments

The charity aims to meet its charitable objectives by continuing to develop its zoological parks further, to attract greater income and provide greater interest and enthusiasm in the general public in zoology and the knowledge and study of animals as noted in the Chairman's Report We work to take further our outreach education and to provide a comprehensive window into the world of nature.

The charity also aims to develop fundraising as a means with which to provide greater contributions towards the conservation of wildlife both here and abroad.

Operationally, whilst we welcome the living wage, the parks are reliant on significant staff numbers and additional costs are bound to impact on admission fees in the coming years in order to allow us to continue our charitable activities and objectives. Fundraising will become ever more important to meet not only ongoing costs but also the costs of capital projects.

Trustees' responsibilities statement

The Trustees (who are also directors of The Zoological Society of East Anglia Limited for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the Group and of the incoming resources and application of resources, including the income and expenditure, of the charitable Group 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 judgments and accounting estimates that are reasonable and prudent; · prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable Group will continue in operation.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable Group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 15

THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED

Opinion

We have audited the financial statements of The Zoological Society of East Anglia Limited (the 'parent charity') and its subsidiaries (the 'group') for the year ended 31 December 2018 set out on pages 20 to 44. 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 state of the Group's and of the parent charitable company's affairs as at 31 December 2018 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended; · have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and · have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where: · the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or · the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Group's or the parent charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Page 17 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Auditors' report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit: · the information given in the Trustees' report including the Chairman's statement for the financial year for which the financial statements are prepared is consistent with the financial statements. · the Trustees' report and the Chairman's statement have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report including the Group strategic report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: · the parent charitable Company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or · the parent charitable Company financial statements are not in agreement with the accounting records and returns; 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.

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable Company for the purposes 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 internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent Page 18

THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2018

As restated Unrestricted Restricted Total Total funds funds funds funds 2018 2018 2018 2017 Note £ £ £ £ Income from: Voluntary income 3 675,637 53,528 729,165 711,963 Visitor income 4 3,678,735 - 3,678,735 3,623,530 Trading income 5 1,623,200 - 1,623,200 1,604,503 Investment income 6 188 - 188 26

Total income 5,977,760 53,528 6,031,288 5,940,022

Expenditure on: Raising funds 10 1,346,355 - 1,346,355 1,328,866 Charitable activities 7 4,697,595 26,750 4,724,345 4,588,145

Total expenditure 10 6,043,950 26,750 6,070,700 5,917,011

Net income / (expenditure) before transfers (66,190) 26,778 (39,412) 23,011 Transfers between Funds 23 17,602 (17,602) - - Net income / (expenditure) before other recognised gains and losses (48,588) 9,176 (39,412) 23,011

Net movement in funds (48,588) 9,176 (39,412) 23,011

Reconciliation of funds: Total funds brought forward 1,663,853 30,310 1,694,163 1,671,152

1,615,265 39,486 1,654,751 1,694,163 Total funds carried forward

The notes on pages 24 to 44 form part of these financial statements.

Page 20

THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2018

2018 2017 Note £ £ Cash flows from operating activities Net cash provided by operating activities 25 414,250 724,323

Cash flows from investing activities: Interest received 188 26 Interest paid (69,702) (56,660) Purchase of tangible fixed assets (342,275) (669,060) Hire purchase interest - (9,105) Sale of tangible fixed assets 15,383 -

Net cash used in investing activities (396,406) (734,799)

Cash flows from financing activities: Repayments of borrowings (176,667) (265,000) Finance lease payments 5,381 (49,302) Bank loan 46,230 488,320

Net cash (used in)/provided by financing activities (125,056) 174,018

Change in cash and cash equivalents in the year (107,212) 163,542 Cash and cash equivalents brought forward 582,824 419,282

Cash and cash equivalents carried forward 26 475,612 582,824

The notes on pages 24 to 44 form part of these financial statements.

Page 23 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Zoological Society of East Anglia Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Statement of financial activities (SOFA) and Balance sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

No separate SOFA has been presented for the Company alone as permitted by section 408 of the Companies Act 2006.

The trustees consider there to be no material uncertainties about the Group's ability to continue as a going concern and the accounts are prepared on a going concern basis.

1.2 Company status

The Company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the Company being wound up, the liability in respect of the guarantee is limited to £1 per member of the Company.

Page 24 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

1. Accounting policies (continued)

1.3 Income

All income is recognised once the group has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the group where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Admission income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Donations are recognised in the period in which they are received.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the Company and include project management carried out at Headquarters.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the group's operations, including support costs and costs relating to the governance of the Company apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

1.5 Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

Page 25 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

1. Accounting policies (continued)

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Long-term leasehold property - 2% straight line Motor vehicles - 20% reducing balance Fixtures, fittings and equipment - 25% reducing balance and 5% straight line Animal enclosures - 5% straight line

Assets in the course of construction are not depreciated until after they are brought into use.

1.6 Investments

Investments in subsidiaries are valued at cost less provision for impairment.

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the group; this is normally upon notification of the interest paid or payable by the Bank.

1.8 Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.9 Operating leases

Rentals under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

1.10 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.11 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 26 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

1. Accounting policies (continued)

1.12 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.13 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.14 Financial instruments

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.15 Pensions

The group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the group to the fund in respect of the year.

1.16 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.17 Zoo Livestock

Zoo Livestock is carried at £nil value.

Page 27 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

1. Accounting policies (continued)

1.18 Judgements in applying accounting policies and key sources of estimation uncertainty

The trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and judgements are continually evaluated and are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The judgements, estimates and assumptions which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are addressed below:

Stock provision The group sells retail items and is subject to consumer demands and trends. As a result it is necessary to consider the recoverability of the cost of inventory and the associated provisions required. When calculating the inventory provision, management considers the nature and condition of the inventory, as well as applying assumptions around anticipated saleability of finished goods and future goods and future usage of raw materials. See note 18 for the net carrying amount of the stocks and associated provision.

Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future estimates, economic utilisation and the physical condition of the assets. See note 16 for the carrying amount of the property plant and equipment, and note 1 for the useful economic lives for each class of assets.

2. Statutory information The Zoological Society of East Anglia Limited is a private company limited by guarantee incorporated and domiciled in England and Wales, registration number 08250951. The address of the registered office is The Grove, Banham, Norfolk, NR16 2HE.

3. Voluntary income Unrestricted Restricted Total Total funds funds funds funds 2018 2018 2018 2017 £ £ £ £ Donation 267,137 53,528 320,665 295,243 Gift aid 403,500 - 403,500 416,720 Grants 5,000 - 5,000 -

Voluntary income 675,637 53,528 729,165 711,963

Total 2017 684,212 27,751 711,963

Page 28 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

4. Incoming resources from charitable activities Unrestricted Restricted Total Total funds funds funds funds 2018 2018 2018 2017 £ £ £ £ Visitor income to zoo parks 3,678,735 - 3,678,735 3,623,530

Total 2017 3,623,530 - 3,623,530

5. Trading activities As restated Unrestricted Restricted Total Total funds funds funds funds 2018 2018 2018 2017 £ £ £ £ Trading income Trading income 1,623,200 - 1,623,200 1,604,503

Trading expenses Cost of goods sold 660,205 - 660,205 605,014 All other costs 90,516 - 90,516 121,539 Wages and salaries 551,160 - 551,160 560,475 Depreciation of tangible fixed assets 25,021 - 25,021 28,350

1,326,902 - 1,326,902 1,315,378

Net income from trading activities 296,298 - 296,298 289,125

6. Interest receivable As restated Unrestricted Restricted Total Total funds funds funds funds 2018 2018 2018 2017 £ £ £ £ Bank and other interest receivable 188 - 188 26

Total 2017 26 - 26

Page 29 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

7. Analysis of expenditure on charitable activities

As restated Unrestricted Restricted Total Total funds funds funds funds 2018 2018 2018 2017 £ £ £ £ Charitable activities 4,697,595 26,750 4,724,345 4,588,145

Total 2017 4,586,090 2,055 4,588,145

Restricted expenditure relating to charitable activities includes donations made to other charities.

8. Cost of animal collection and education Charitable Total As restated activities 2018 2017 £ £ £ Finance income and expenses 71,454 71,454 67,168 Direct animal costs 200,379 200,379 111,522 Direct conservation costs 2,155 2,155 13,477 Park running costs 171,045 171,045 120,585 Marketing 145,588 145,588 82,797 Administration expenses 156,496 156,496 190,565 Wages and salaries 2,263,209 2,263,209 2,284,511 Depreciation 217,238 217,238 209,801

3,227,564 3,227,564 3,080,426

Total 2017 3,080,426 3,080,426

Governance costs of £18,561 (2017: £22,689) are included in Administration expenses above. These include an appropriate proportion of senior management time and Audit fees.

Page 30 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

9. Support costs Charitable Total As restated activities 2018 2017 £ £ £ Office costs, rates, insurance 581,168 581,168 614,314 Information technology 13,593 13,593 36,786 Office costs 252,278 252,278 339,561 Wages and salaries 575,778 575,778 468,913 Depreciation 47,214 47,214 46,090

1,470,031 1,470,031 1,505,664

Total 2017 1,505,664 1,505,664

10. Analysis of Expenditure by expenditure type Staff costs Depreciation Other costs Total As restated 2018 2018 2018 2018 2017 £ £ £ £ £ Expenditure on raising voluntary income - - 19,453 19,453 13,488 Expenditure on trading 551,160 25,021 750,721 1,326,902 1,315,378

Raising funds 551,160 25,021 770,174 1,346,355 1,328,866

Charitable activities 2,838,987 264,452 1,620,906 4,724,345 4,588,145

3,390,147 289,473 2,391,080 6,070,700 5,917,011

Total 2017 3,313,899 284,241 2,318,871 5,917,011

The restatement of 2017 costs, disclosed in notes 5, 7, 8, 9, 10 and 13 to these accounts, reflects a reallocation between staff costs and other costs. There is no adjustment to total costs or the net result for that year.

11. Turnover All turnover arose within the United Kingdom.

Page 31 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

12. Net income/(expenditure) This is stated after charging:

2018 2017 £ £ Depreciation of tangible fixed assets: - owned by the charitable group 274,558 270,638 - held under finance leases 15,983 13,600 Auditors remuneration for audit 11,450 11,130 Auditors remuneration for non audit services 3,560 2,930

During the year, no Trustees received any remuneration (2017 - £NIL). During the year, no Trustees received any benefits in kind (2017 - £NIL). During the year, no Trustees received any reimbursement of expenses (2017 - £NIL).

13. Staff costs Staff costs were as follows: As restated 2018 2017 £ £ Wages and salaries 3,147,910 3,146,951 Social security costs 227,748 227,451 Other pension costs 59,676 41,231

Total 3,435,334 3,415,633

Higher paid staff 2018 2017 No. No. In the band £80,001 - £90,000 1 -

One employee received remuneration amounting to more than £60,000 in 2018 (2017: none).

The average number of employees, during the year was 212 (2017 - 211).

The key management personnel of the group comprise the Trustees, the Chief Executive Officer, the Finance Officers, the Director of Conservation and Education and the Director of Operations. The total employee benefits of the key management personnel of the group were £358,715 (2017 - £298,340).

Wages and salaries costs include redundancy and termination payments relating to the period of £31,047 (2017: £nil).

Page 32 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

14. Interest payable 2018 2017 £ £ On loans and overdrafts 69,501 58,063 On finance leases and hire purchase contracts 394 9,105

Total 69,895 67,168

15. Parent company profit for the year The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2016 and has not presented its own Statement of financial activities in these financial statements. The loss after tax of the parent company for the year was £70,888 (2017 profit - £135,363).

16. Tangible fixed assets Assets in the course Long-term of Fixtures, leasehold constructio Motor fittings and Zoo property n vehicles equipment enclosures Total Group £ £ £ £ £ £ Cost At 1 January 2018 185,000 802,283 335,137 1,636,121 1,895,412 4,853,953 Additions - 325,978 - 16,297 - 342,275 Disposals - - (1,000) (19,467) (446) (20,913) Transfers - (1,024,092) 68,297 128,742 827,053 -

At 31 December 2018 185,000 104,169 402,434 1,761,693 2,722,019 5,175,315

Depreciation At 1 January 2018 14,800 - 161,218 571,194 349,291 1,096,503 Charge for the year 3,700 - 35,005 156,554 95,282 290,541 On disposals - - (738) (11,375) (47) (12,160)

At 31 December 2018 18,500 - 195,485 716,373 444,526 1,374,884

Net book value At 31 December 2018 166,500 104,169 206,949 1,045,320 2,277,493 3,800,431

At 31 December 2017 170,200 802,283 173,919 1,064,927 1,546,121 3,757,450

Page 33 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

16. Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

2018 2017 Group £ £ Motor vehicles 76,204 95,012 Office equipment - 20,339

76,204 115,351

Assets in Long-term the course Fixtures, leasehold of Motor fittings and Zoo property construction vehicles equipment enclosures Total Company £ £ £ £ £ £ Cost At 1 January 2018 185,000 802,283 313,837 1,330,543 1,895,412 4,527,075 Additions - 325,978 - - - 325,978 Transfers intra group - - - (18,205) - (18,205) Disposals - - (1,000) (19,467) (446) (20,913) Transfers - (1,024,092) 68,297 128,742 827,053 -

At 31 December 2018 185,000 104,169 381,134 1,421,613 2,722,019 4,813,935

Depreciation At 1 January 2018 14,800 - 155,254 422,281 349,291 941,626 Charge for the year 3,700 - 31,938 131,663 95,282 262,583 On disposals - - (738) (11,375) (47) (12,160)

At 31 December 2018 18,500 - 186,454 542,569 444,526 1,192,049

Net book value At 31 December 2018 166,500 104,169 194,680 879,044 2,277,493 3,621,886

At 31 December 2017 170,200 802,283 158,583 908,262 1,546,121 3,585,449

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

2018 2017 Company £ £ Motor vehicles 63,935 81,383

Page 34 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

17. Fixed asset investments Shares in group undertakings Company £ Historic cost At 1 January 2018 and 31 December 2018 1

18. Stocks Group Company 2018 2017 2018 2017 £ £ £ £ Finished goods and goods for resale 100,687 144,620 - -

Stock recognised in cost of sales during the year as an expense was £654,769 (2017 - £588,413).

An impairment loss of £13,190 (2017 - £Nil) was recognised in cost of sales against stock during the year due to slow-moving and obsolete stock.

19. Debtors Group Company 2018 2017 2018 2017 £ £ £ £ Trade debtors 3,215 9,845 2,835 4,027 Amounts owed by group undertakings - - 71,601 271,203 Other debtors 204,180 62,784 280,788 62,704 Prepayments and accrued income 18,868 24,549 18,868 24,549

226,263 97,178 374,092 362,483

Page 35 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

20. Creditors: Amounts falling due within one year Group Company 2018 2017 2018 2017 £ £ £ £ Bank loans and overdrafts 45,195 46,507 45,195 46,507 Other loans 265,000 265,000 265,000 265,000 Net obligations under finance leases and hire purchase contracts 20,738 27,789 12,849 19,900 Trade creditors 145,805 136,809 135,770 105,423 Other taxation and social security 78,745 102,858 50,501 88,094 Other creditors 161,822 155,404 144,707 141,281 Accruals and deferred income 571,957 377,869 551,043 366,547

1,289,262 1,112,236 1,205,065 1,032,752

Accruals and deferred income includes deferred park entrance fees as follows. Group Company £ £ £ £ Deferred income Deferred income at 1 January 2018 181,718 173,431 181,718 173,431 Resources deferred during the year 335,230 181,718 335,230 181,718 Amounts released from previous years (181,718) (173,431) (181,718) (173,431) Deferred income at 31 December 2018 335,230 181,718 335,230 181,718

The bank loan is secured by means of securities that create a fixed and floating charge over the assets of the company.

Page 36 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

21. Creditors: Amounts falling due after more than one year Group Company 2018 2017 2018 2017 £ £ £ £ Bank loans 489,355 441,813 489,355 441,813 Other loans 1,148,333 1,325,000 1,148,333 1,325,000 Net obligations under finance leases and hire purchase contracts 21,292 8,860 21,292 972

1,658,980 1,775,673 1,658,980 1,767,785

Included within the above are amounts falling due as follows:

Group Company 2018 2017 2018 2017 £ £ £ £ Between one and two years Bank loans 46,477 47,825 46,477 47,825 Other loans 265,000 265,000 265,000 265,000

Between two and five years Bank loans 199,470 151,771 199,470 151,771 Other loans 795,000 795,000 795,000 795,000

Over five years Bank loans 243,408 242,217 243,408 242,217 Other loans 88,333 265,000 88,333 265,000

Creditors include amounts not wholly repayable within 5 years as follows:

Group Company 2018 2017 2018 2017 £ £ £ £ Repayable by instalments 331,741 507,217 331,741 507,217

The bank loan is payable over a 10 year period, commencing in 2017. Interest is charged at 2.55% over base rate.

Other loans consist of the deferred consideration for the purchase of assets. The loan is payable over equal installments over a 10 year period, commencing in 2014. Interest is charged at 2.8% over base rate.

Financial instruments measured at amortised cost comprise the deferred consideration for the purchase of assets.

The bank loan is secured by means of securities that create a fixed and floating charge over the assets of the company.

Page 37 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

21. Creditors: Amounts falling due after more than one year (continued)

Obligations under finance leases and hire purchase contracts, included above, are payable as follows:

Group Company 2018 2017 2018 2017 £ £ £ £ Between one and five years 21,292 8,860 21,292 972

Hire purchase liabilities are secured by a charge over the assets to which they relate.

22. Financial instruments 2018 2017 £ £ Financial assets measured at amortised cost 284,083 72,628

Financial liabilities measured at amortised cost 2,554,267 2,603,333

Financial assets measured at amortised cost comprise of trade receivables and other debtors.

Financial liabilities measured at amortised cost comprise Creditors, excluding deferred income, taxation and social security.

Page 38 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

23. Statement of funds

Statement of funds - current year Balance at Balance at 31 1 January Transfers December 2018 Income Expenditure in/out 2018 £ £ £ £ £ Unrestricted funds General Funds 1,663,853 5,977,760 (6,043,950) 17,602 1,615,265

Restricted funds Other restricted funds 6,666 8,880 (6,138) - 9,408 Education outreach fund 5,000 9,700 - - 14,700 Education van fund 18,644 - (1,042) (17,602) - Wild cats fund - 34,948 (19,570) - 15,378

30,310 53,528 (26,750) (17,602) 39,486

Total funds 1,694,163 6,031,288 (6,070,700) - 1,654,751

Other restricted funds includes small amounts raised from visitors via cash donation boxes which are collected and distributed to other animal conservation charities.

The education outreach fund is a restricted fund comprising of donations received in order to provide education outreach services.

The education van fund is a restricted fund comprising of donations and related expenditure. The purpose of the fund to to raise money for an educational van. The transfer from this fund reflects the purchase of a van during 2018.

Wild cats fund is a restricted fund which includes donations collected that will be donated to the Kerinci Seblat Sumatran Tiger Protection which the objective is to secure long-term conservation of wild Sumatran tigers through controlling the poaching, habitat loss and mitigation of human-tiger conflict.

Page 39 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

23. Statement of funds (continued)

Statement of funds - prior year Balance at Balance at 31 1 January Transfers December 2017 Income Expenditure in/out 2017 £ £ £ £ £ General Funds 1,671,152 5,912,271 (5,914,956) (4,614) 1,663,853 Restricted funds Restricted Funds - 27,751 (2,055) 4,614 30,310

Total of funds 1,671,152 5,940,022 (5,917,011) - 1,694,163

24. Analysis of net assets between funds

Analysis of net assets between funds - current year Unrestricted Restricted Total funds funds funds 2018 2018 2018 £ £ £ Tangible fixed assets 3,800,431 - 3,800,431 Current assets 763,076 39,486 802,562 Creditors due within one year (1,289,262) - (1,289,262) Creditors due in more than one year (1,658,980) - (1,658,980)

1,615,265 39,486 1,654,751

Analysis of net assets between funds - prior year Unrestricted Restricted Total funds funds funds 2017 2017 2017 £ £ £ Tangible fixed assets 3,757,450 - 3,757,450 Current assets 794,312 30,310 824,622 Creditors due within one year (1,112,236) - (1,112,236) Creditors due in more than one year (1,775,673) - (1,775,673)

1,663,853 30,310 1,694,163

Page 40 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

25. Reconciliation of net movement in funds to net cash flow from operating activities

Group 2018 2017 £ £ Net (expenditure)/income for the year (as per Statement of Financial Activities) (39,412) 23,011

Adjustment for: Depreciation of tangible fixed assets 290,541 284,238 Returns on investments and servicing of finance (188) (26) Interest paid 69,702 67,202 (Profit)/loss on the sale of fixed assets (6,630) 25,999 Decrease in stocks 43,933 41,227 (Increase)/decrease in debtors (205,773) 160,034 Increase in creditors 262,077 117,703 Exchange movement on fixed assets - 4,935

Net cash provided by operating activities 414,250 724,323

26. Analysis of cash and cash equivalents Group 2018 2017 £ £ Cash in hand 475,612 582,824

Total 475,612 582,824

27. Capital commitments At 31 December 2018 the Group and Company had capital commitments as follows:

Group Company 2018 2017 2018 2017 £ £ £ £ Contracted for but not provided in these financial statements - 26,265 - 26,265

Page 41 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

28. Operating lease commitments At 31 December 2018 the total of the Group’s future minimum lease payments under non-cancellable operating leases was:

2018 2017 Group and Company £ £ Amounts payable: Within 1 year 90,000 90,000 Between 1 and 5 years 360,000 360,000 After more than 5 years 8,010,000 8,100,000

Total 8,460,000 8,550,000

Page 42 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

29. Related party transactions

As chief executive officer until his retirement on 30 April 2018, Martin Goymour is considered to be a related party.

Goymour Properties Limited and its subsidiaries, which are controlled by Martin Goymour, are therefore related parties of the charity.

In the period, the charity paid rent and interest of £126,180 (2017 - £127,503) and £50,869 (2017 - £58,063) respectively to Goymour Properties Limited and its subsidiaries. It also paid loan instalments of £176,667 which included a payment holiday of four months for the purchase of the assets from Goymour Properties Limited and its subsidiaries.

In addition to the above, the following transactions took place between the group and Goymour Properties Limited and its subsidiaries:-

2018 2017 2018 2017 Transaction Transaction value for the value for the Balance Balance year ended year ended outstanding outstanding 31 31 at 31 at 31 December December December December £ £ £ £ Goymour group - Loan creditor - - (1,413,333) (1,590,000) Goymour group - Other creditors - - (167,195) (168,099) Goymour group - Debtors - - 163,977 40,568 Sales 251,080 303,360 - - Purchases 223,044 191,413 - -

30. Principal subsidiaries ZSEA Trading Limited Subsidiary name ZSEA Trading Limited Company registration number 08332152 Basis of control Equity shareholding % 100%

Total assets as at 31 December 2018 £ 374,090 Total liabilities as at 31 December 2018 £ (232,485) Total equity as at 31 December 2018 £ 141,605

Turnover for the year ended 31 December 2018 £ 1,624,182 Expenditure for the year ended 31 December 2018 £ (1,531,436) Profit for the year ended 31 December 2018 £ 92,746

Page 43 THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

31. Taxation The Company is a registered charity. As all its income and gains have been or will be applied for charitable purposes only, no corporation tax charge arises. As it is planned for any taxable profit in the subsidiary company to be donated to the charity within nine months of the balance sheet date, no tax charge is expected to arise and therefore these accounts include no provision for tax.

Page 44