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Registered number:
Charity number:
(A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
CONTENTS
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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 2024
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
The chairman is pleased to present his statement for this, our twelfth year of operation.
2024 saw economic challenges for the Zoological Society of East Anglia (ZSEA) which continued to test our mettle, however performance has outstripped initial projections for the year and progress against financial and operational plans has been pleasing.
Following a business and cost assessment with our external partners, an element of restructuring was required to secure the charities’ future and to focus on business fundamentals. During 2024 successes include:
∙The appointment of a new CEO in January 2024
∙Operational reforms to drive efficiency and mitigate cost waste, budget reforecasting and restrategizing our marketing were undertaken, resulting in a significant reduction in costs
∙A continued evolution of our educational partnerships and closer ties with UEA and other institutions.
∙Match funding support from Breckland Council – Rural England Prosperity Fund to develop our website redesign, wayfinding and educational signage
∙Launch of the ‘Together for Wildlife’ fundraising campaign
The foundation of our strategy remains focused on agility, stringent fiscal control, and a staunch commitment to our core values. There has been strong progress made across our conservation, education, and community objectives and we continue to deliver upon the five objectives within our 5year plan:
1.Preserving Wild Futures
2.Engaging our Public
3.Creating Conservationists
4.Sustaining our Environment
5.Sustaining our Future
Our modelling for the next 12-month period is based on modest increase in income assumptions and robust assessment of cost pressures and price increases, including managing payments with our business partners. A realistic approach is being taken, expecting it will take a further two years to fully recover the financial position, with capacity for continual review and corrective action, as required. This approach acknowledges there may be further financial risks and uncertainties to be monitored and managed during the coming year that relate to the continuing economic pressures from global tensions, the economic climate and rising costs, resulting in the cost-of-living crisis impacting visitor income; maintaining visitor numbers and the impact of bad weather; the management of cash in a seasonal business and increased employer taxes. Flexibility has been built into the pricing model and cost base to enable this to be managed as required.
A return to profit is anticipated in 2025 and the Charity has worked closely with its lender to secure flexible support during 2025/2056, to maintain liquidity during the winter low season. We have an overdraft of £500k secured to March 2026, with support for this to be extended until September 2026 and agreement on short term deferment of loan repayments, if needed. Our commitment to our mission and the communities we serve remain unwavering and we remain positive for the future. For 2025, our focus will be on consolidating sustainability for the future, as we continue to work through the impact of the cost of living crisis on our operational costs and driving visitor numbers. Our priorities will be emphasising value to our loyal members, improving the customer experience and operational efficiency. We are delighted to have appointed two new trustees following a rigorous recruitment: Mrs Rebecca Penny holds Chartered status from the London Institute of Banking and Finance, a further degree in Banking Practice and Management and qualifications in Applied Corporate Banking and Certified Professional in Financial Advice to support developing and delivering our financial objectives; Mr Edward Boukley, a qualified solicitor, specialising in competition and consumer regulation, is a Senior Associate at Birketts, joined the Board in June 2025 to support our fundraising, education and regulatory objectives.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The charity is also supported by Dr Sharon Redrobe OBE DZooMed, MRCVS,as strategic Zoological Director, a consultant who brings over 25 years as an internationally renowned senior zoo & conservation professional previously with Twycross Zoo, continues to act as a UK Government Zoo Inspector, and has significant experience liasing with international bodies and all levels of local, regional, and national Government. We are delighted to have Sharon's expertise balancing change management, animal welfare, visitor experience, capital build programmes, conservation mission with financial viability and sustainability to support the charity with our Vision for 2030. In conclusion, while the upcoming year poses challenges, our dedication to our vision, mission, and the communities we serve remains steadfast. The overarching aim is to harness the adversities of today to lay the groundwork for a promising tomorrow. On behalf of ZSEA, I extend my gratitude to every colleague, volunteer, visitor, and working partner for their unwavering support. Together, we move forward with hope and determination preserving wild futures, investing in our people, working with our communities, reimagining our spaces, restoring our gardens, and vitally, continuing to protect endangered both native and international species from the risk of extinction.
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G F Smith
Chairman
Date:
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the audited financial statements of the company for the year 1 January 2024 to 31 December 2024. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable 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 (FRS102) (effective 1 January 2019).
Review of activities
Leadership Team The Leadership Team combines passion, expertise, entrepreneurialism, specialist understanding of their area, and a shared vision that together we can preserve wild futures. During 2024, the team included our Head of Mission, Director of Zoo Operations, Sales and Marketing Director, Head of Living Collections, HR Advisor, Finance Manager and Executive Assistant, led by the CEO. ZSEA currently utilises the skills and expertise of advisory specialists to support the leadership team, where required, adding significant value to creating the long term vision and our delivering upon our charitable objectives. These specialists are experienced outsiders who mentor, provide solutions and act as a sounding board across the wide range of departments, some of whom have offered their services pro bono. Risk Management The Society's risk register is reviewed at the Quarterly Board Meetings or as high priority risks emerge. The Board has conducted its annual review of the major risks to which the Society is exposed and associated actions, procedures, and contingency plans to mitigate those risks and is satisfied with the management of those risks.
Objectives and activities
a. Policies and objectives
In 2024, our principal aim has been to return the Charity to a secure financial footing to enable the following operational aims, including:
∙Defining a strong member proposition
∙Growing our native species conservation work within the East of England through collaborations
∙Introducing further conservation research projects internally
∙Developing our conservation education teaching programmes
∙New corporate programmes covering sustainability, climate change and connections in nature for mindfulness
∙Continuing our work within SEND departments in local schools through outreach programmes
∙Continuing our support and work to promote mental health and wellbeing benefits in connecting to nature
∙Developing new initiatives for our community to ensure our spaces are accessible for all
∙Maintaining and rebuilding financial reserves which are vital to support the charity through the uncertain economic climate
∙Capex investment into continued maintenance of high standards of animal welfare and wherever possible the continuing implementation of the ZSEA Conservation, Conservation Education and Community strategies
∙Driving visitor numbers through effective marketing strategies
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
∙Rebuilding and consolidating teams to improve operational and cost efficiencies
∙Market growth of membership and building community schemes through digital platforms
In 2024 a considerable improvement in the financial results has been achieved through the application of careful cost management and controlling cashflow during an uncertain economic climate, improving operational business processes and efficiency and accessing funding opportunities. This has enabled delivery of the following key achievements:
∙Continuing to fulfil, where possible, our mission objectives in Conservation, Education and Community
∙Scrutinising and reducing costs and then keeping costs under control
∙Ensuring the safety of staff and visitors, whilst delivering a great visitor experience and a satisfying place to work
∙Focusing on revenue generating activities
∙Continuing to fulfil, where possible, our mission objectives
∙Develop management and leadership teams
∙Developing marketing strategy and targeting visitor numbers
∙Zoo Inspections – preparing for excellent evaluations at both Banham Zoo (2025) and Africa Alive (2026)
∙Conservation Initiatives: continuation of native species conservation projects
∙Launched the Together for Wildlife fundraising campaign—a bold initiative to galvanise public support for conservation and education
∙5 Year Plan: Continuation of the new plan focusing on five objectives: Preserving Wild Futures, Engaging Public, Creating Conservationists, Sustaining Environment, and Sustaining Future
∙Board Evolution: Welcomed a new trustee after a rigorous 2024 recruitment process
Conclusion: While economic challenges persist, ZSEA remains committed to its vision and mission, emphasising community engagement, conservation efforts, staff investment, and safeguarding endangered species.
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, including the guidance 'Public benefit: running a charity (PB2)'.
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 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 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 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 where such study and research could help the conservation of species and habitats and the maintenance and restoration of natural habits.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
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 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.appropriate breeding and/or maintaining of endangered animals, threatened species and other wildlife.
vii.establishing and running one or more zoological gardens.
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 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 habitats in the UK and worldwide.
iv.engaging with the public in matters relating to the living world, the 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. Strategies for achieving objectives
Our mission is to Preserve Wild Futures by protecting endangered species, inspiring, and engaging with the fascination of nature, and to spark a lifelong interest in people of all ages to help us protect the rich diversity of our precious world, for all our futures. Our zoological reserves are places where everyone can connect peacefully with animals and enjoy native wildlife, flora, and fauna in our green open spaces, improving wellbeing.
Our 5 year strategic plan sets out our direction as we re emerge from the pandemic, stronger and leaner. The Society will become a more effective conservation and education charity continuing our commitment to conservation, education and community partnerships which benefit our world and those that live within it. We are ambitious. We want to be the difference the world needs. We want to be the leading example of how to educate people in nature and about nature. Conservation education lies at the heart of everything we do, and we want to actively encourage every visitor to actively consider how we can live, work, and learn in more sustainable ways to protect our planet every day. Over the 5 year plan, we will continue our aim to:
∙Save endangered species from extinction by playing a key role in conservation and measurably improving biodiversity, with a focus on native species
∙Educate about nature, in nature and foster engagement with the natural world
∙Empower people and local communities to make positive changes by promoting the connection between nature and wellbeing
∙Put sustainability at the heart of our long term vision and we have ambitious goals
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
We have set ourselves five objectives to enable us to deliver our charitable purpose:
1. Preserving Wild Futures
Our aim is to increase our conservation dependent animal species on site to 80% by 2026 and be a real force for conservation success.
2. Engaging our Public
Engaging the public and our communities to have meaningful experiences to encourage positive actions, urgently needed to preserve wild futures and sustain our environment and address the climate and ecological emergencies of today, and so is at the heart of our plan.
3. Creating Conservationists
Through impactful, visual experiences and educational but inspiring facilities – we aim to provide visitors the tools they need to take that first step on a conservation journey, to make a difference for everyone’s future as we continue our objective to:
∙Educate ABOUT Nature
By providing a wide range of highquality educational opportunities that connect our communities to nature, with the aim of deepening public awareness and knowledge of biodiversity and sustainability in a relatable, inspiring, and engaging way, which allows emotional connections to nature to be created.
∙Educate IN Nature
Playing an active role in helping our guests and local communities to connect with nature by spending more time outdoors given the massive quantifiable benefits for education and wellbeing.
∙Educating FOR Nature
Encourage behaviour change for conservation by engaging and empowering our guests to take action to live sustainably and protect nature. Connection to nature has been proved to be positively related to conservation behaviour, so by increasing our guests’ nature connections, whilst empowering them to make sustainable choices, we can make a positive contribution to nature conservation.
4. Sustain our Environment
ZSEA is perfectly positioned to deliver upon its mission to be the flagship for sustainable tourism by connecting people to nature for conservation, deliver its purpose in conservation, education, and community and become display environmental leadership.
We aim to become a responsibility superstar and ensure responsible business, responsible growth and conservation education is intrinsic in everything ZSEA does.
5. Sustain our Future
We aim to do this by:
∙Protecting our Finances
Following the seismic change ZSEA undertook because of the pandemic to enable us to rebuild our financial reserves, fiscal control will remain the priority in decision making during our 5 year plan.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
∙Investing in our People
By creating environmental champions who care for and sustain the environment, we will increase employee engagement and satisfaction.
∙Working with our Communities
By working with our communities, we will improve the health and wellbeing, desirability of our region and preserve wild futures.
∙Reimagining our Places
By reimagining our places, we will provide a more compelling visitor experience impacting our ability to create meaningful connections in nature to empower our visitors and create the next generation of conservationists.
∙Managing our Gardens
With a focus on visitor experience, access for all, inclusivity, sustainable practices and restoring gardens in line with the local environment and species.
c. Main activities undertaken to further the company'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.
In 2024, our visitor numbers declined slightly however, the Society connected in nature 183,895 (2023: 245,238) visitors at Banham Zoological Reserve and 145,761 (2023: 144,881) visitors at Africa Alive Zoological Reserve. In setting the price structure for our admission fees we have due regard to concessionary prices for children, senior citizens, and those with disabilities. ZSEA Conservation Conservation projects at ZSEA have developed at pace throughout 2024, demonstrating the benefits and impacts strong and effective partnerships provide for conservation work. All current operational ex-situ projects and those in discussion are all funded by external stakeholders. Native Species Projects 2024 – Banham Zoo
∙'Claws for Conservation' – saving the white clawed crayfish from extinction.
This project continues with successful rearing and releasing of hatchlings to support the wild population numbers of the UK’s largest freshwater invertebrate. We will continue to partner with the Norfolk Rivers Trust and the Norfolk Crayfish partnership, to deliver the captive breeding element of this ‘One Plan Approach’ to conservation. The Conservation team also assisted the Norfolk Rivers Trust with field surveys for the white-clawed crayfish and the invasive signal crayfish. Hatchlings from 2024 will be released into a new site at Wild Ken Hill in 2025.
∙Pool Frog Pods Project
This groundbreaking captive rear, breed and release project continued in 2024 with thorough planning and building phases. It is a very ambitious project, catering for all life stages of the northern pool frog which is considered Critically Endangered in the UK. All funding has been provided by Natural England and a wide array of amphibian experts from Amphibian and Reptile Conservation (ARC), ZSL and various other stakeholders have supported the Conservation team through each stage of the build. Intake of spawn will be late Spring 2025 and then staged releases over the following months. A small number of young frogs will be held back for the breeding stage of this project.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
∙Moonshiner Wormwood Beetle/Field Wormwood Restoration Project
The elusive, nocturnal Moonshiner Wormwood Beetle is only found in a handful of sites in the UK, mainly in the Brecks on the doorstep of Banham Zoo. This beetle is on the brink of extinction and feeds mainly on the also endangered Field Wormwood, a protected plant species. This collaboration with Natural England, Plantlife, Buglife and Kew Gardens continued in 2024 with the Conservation team propagating, growing on and collecting data on plants where the seeds were sourced from the Millennium seed bank at Kew gardens. Many of these successfully cultivated plants will be planted out at sites across Breckland to monitor growth survival rates and start to re-colonise this incredibly rare plant. We will then work on Phase II of the project to hopefully bring in a number of Critically Endangered Moonshiner Wormwood Beetles from the wild to be able to research this incredibly rare beetle and understand more of its ecology and breeding behaviour. Ultimately the outcome would be to breed these beetles successfully and once habitat restoration and maintenance is underway in the wild, release populations of the beetle to bolster numbers and save this species from a very uncertain future.
∙Burbot Reintroduction Project
This really exciting project is funded and in partnership with the Norfolk Rivers Trust with stakeholders including ZSL vets and CEFAS. Burbot became extinct in the UK in the 1970’s and through this partnership we will transport eggs from Belgium and rear and release them back into the rivers of North Norfolk. This is a keystone fish species and will help improve river biodiversity and ecology. Planning phase is underway, and the build will begin hopefully in the Autumn of 2024.
∙Large Copper Butterfly
This extinct in the UK butterfly is a priority species for Natural England, and we are going to hold captive stock and breed and research to better understand the lifecycle, breeding and feeding behaviour of this very niche species. Future work may involve habitat restoration (they are a wetland loving species, so populations have declined as wetlands have declined) and possible reintroduction.
∙Tansy Beetle
In partnership with Natural England, Wildfowl and Wetlands Trust and the Tansy Beetle Action Group, we will conduct multiple research projects on the feeding preferences and behaviour of the beautiful but rare tansy beetle. We will compare ‘clades’ of this beetle – found only in York and two sites in Norfolk, with an aim to inform habitat management and population support in the future.
Native Species Projects 2024 – Africa Alive Reserve
∙Turtle doves
In collaboration with the RSPB and their 'Operation Turtle Dove' project, ZSEA has allocated a section of land at Africa Alive to create suitable and enticing habitat for the turtle dove, a migrant visitor to the UK, now one of the fastest declining bird species. 2024 saw Operation Turtle Dove continue to donate seed feed for the year and the Animal Keeping and Education teams are keeping a watchful eye and ear out for any signs!
∙Biodiversity Action Planning
We are continuing our plans for site management at AA as there are sizeable sections towards the rear of the park that could be managed as a nature reserve, but work does need to be done. This plan will be finalised in 2025 to improve the site for native species and possibly look at some ex-situ conservation work for native species as well.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
∙BioBlitz
Africa Alive has a wide variety of biodiversity rich habitats and the annual BioBlitz and other habitat surveys throughout the year demonstrate the incredibly large number of native species living on site. This information informs our Biodiversity Action Plan as above, which will in turn highlight areas of the site that require maintenance or restoration to fully develop our native species diversity. Such areas for focus are Wader’s Lake with its huge variety of dragonflies and damselflies and the woodland areas on site. The surveys were run throughout 2024 and the major BioBlitz event held in July.
International Conservation Programmes
∙Lemur Conservation Association (AEECL)
The Lemur Conservation Association (AEECL) is a zoo managed conservation organisation based in SahamalazaIles Radama National Park in Madagascar. The main aims of the charity are based on the conservation of the lemur species within the park, with specific focus on the critically endangered blueeyed black lemur (Eulemur flavifrons). Their goals are to research, protect and restore the vital ecosystems these conservation dependent species inhabit, collaborating with local communities and authorities to achieve a sustainable and biodiverse habitat for the future. Banham Zoo and Africa Alive have been actively involved within this charity for many years and currently ZSEA’s Head of Conservation sits on the AEECL board as secretary, actively helping to steer decision making and progress within the work plans in Madagascar. The charity is a membership organisation and ZSEA has donated funds to this important conservation work to continue as full members. ZSEA’s Head of Conservation also developed, created and currently maintains the AEECL website, all social media and all membership communications including annual and quarterly reporting.
∙International Vulture Programme (IVP)
At Banham Zoo we are proud to support the International Vulture Programme (IVP). This is a multipartner initiative that focuses efforts on the research and conservation of vultures. The IVP is made up of a series of projects in southern Africa and south Asia and most recently Banham Zoo donated £2,073 to purchase satellite tracking equipment for their work on Egyptian vulture monitoring. It is only through important conservation collaborations such as this that we can support and save these vital species globally. The Head of Conservation has been having meetings with the IVP to discuss possible stakeholder engagement and where ZSEA could become part of a wider remit.
∙WildCats Conservation Alliance
Wildcats is a conservation initiative on a mission is to save wild tigers and Amur leopards for future generations by raising awareness of their status and funding carefully chosen conservation projects. ZSEA has partnered with this organisation for many years and fundraised specifically for their Amur tiger conservation programme in 2024, donating £625 in total.
Conservation Education
The Conservation Education Strategy focuses on three main areas:
∙Educating ABOUT Nature
By providing a wide range of highquality educational opportunities that connect our communities to nature, with the aim of deepening public awareness and knowledge of biodiversity and sustainability in a relatable, inspiring, and engaging way, which allows emotional connections to nature to be created.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
∙Educating IN Nature
Playing an active role in helping our guests and local communities to connect with nature by spending more time outdoors given the massive quantifiable benefits for education and wellbeing.
∙Educating FOR Nature
Encourage behaviour change for conservation by engaging and empowering our guests to take action to live sustainably and protect nature. Connection to nature has been proved to be positively related to conservation behaviour, so by increasing our guests' nature connections, whilst empowering them to make sustainable choices, we can make a positive contribution to nature conservation.
The Education Programme
Our formal Education Programme covers three different forms of learning – Onsite, with formal lessons and self-led trails, Online and Outreach. Our onsite sessions were relaunched in 2024 with a variety of new topics across both sites. These hands-on Discovery Sessions, led by our experienced educators, use interactive learning to help inspire pupils to discover more about science and the natural world, and develop connections to nature to improve conservation behaviours. In 2024 111 schools visited Africa Alive, with 1,503 students participating in hands on workshops and a further 3,702 taking part in self-led or trail led visits. 213 schools visited BZ in 2024, with 3,092 students participating in hands on workshops and a further 6,000 taking part in self-led or trail led visits. Numbers taught in these sessions increased by 21% (2023-2024).
Informal Education
Education in the zoo is not just reserved for schools and visiting groups – our daily programmes of talks and activities ensure all our guests have the opportunity to discover amazing facts about our animals and connect with nature. Interpretive signage, children’s trails, hands on workshops as well as interactive activities such as ‘Toby Investigates…’ all provide excellent opportunities for engaging a variety of audiences with the animals in our care and how we can help protect the world around us.
New activities for 2024 included Carnivore Safari at Africa Alive – an interactive guided tour of the carnivores of the park, ‘ZOO-Dunnit?’ activity at Banham Zoo – a cluedo style event focussing on whole stole the bird’s enrichment and Autism Awareness Week – with new Inclusive signage going up at both AA / BZ featuring Makaton Communication System and Toby Tiger / Reggie Lion. We also produced a new Makaton Friendly trail Guide for both sites which can be downloaded from the websites.
Partnerships
The Education Dept continues to foster partnerships with a number of local organisations / institutions including:
East Coast College / University of Suffolk
Since 2019 we have been a key part of the delivery of the University of Suffolk (East Coast College Campus) FdSc Conservation Science & Animal Management programme and also the BSc Sustainable Futures Degrees, with students taking part in lectures in the zoo on topics such as Zoo Nutrition, Animal Health Strategies and Conservation Education. The programme also involves hands on work experience and master classes with the keepers and educators, as well as research projects and classroom-based assessments.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
Wensum Trust
Our Zoo School Partnership, launched in In 2021 between ZSEA and The Wensum Trust has gone from strength to strength, supporting and developing scientific learning and conservation education across the curriculum. The ‘ZOO SCHOOL’ curriculum at Kinsale Junior School in Norwich, allows Key stage 2 students to experience hands on education in a number of subjects throughout the year, with conservation themes embedded into each lesson. This also allows ZSEA to evaluate the effectiveness of conservation education in zoos as part of a long-term study.
In 2024 every pupil at Kinsale was able to visit Banham Zoo or Africa Alive as part of a school trip, take part in education sessions run by ZSEA at Kinsale school as well as online lessons with the ZSEA education team.
In Sept 2024 staff from Kinsale Juniors joined us at Banham Zoo for a team building and volunteering day, helping us complete grounds work around the zoo.
Plans for 2025 are to create a formal ZOOSCHOOL accreditation scheme in partnership with the Wensum Trust and BIAZA
Norfolk County Council / East Suffolk Council
Since 2022, ZSEA has provided Holiday Activities and Food (HAF) Provision at Africa Alive with funding support from East Suffolk Council. Banham Zoo also began offering HAF provision in 2023 and was voted Best New Provision by Norfolk County Council. The Holiday Activities and food programme is a government funded initiative allowing children from disadvantaged backgrounds access to high quality activities during holiday periods. Our Zoo Investigators Clubs promote healthy living, well-being and conservation values as well as being lots of fun! Over 470 children have so far benefited from this provision at Africa Alive, and a further 220 in Banham Zoo, with excellent feedback from the children and their parents / carers. Banham Zoo won an award for the Best Sustainable Provision from Norfolk County Council for 2024.
Projects 2024
Sizewell Creative: As part of a Sizewell Creative funded project, ZSEA joined a number of local organisations such as Pro Corda, Jubilee Opera, and Suffolk New College, to help stage a production of Benjamin Britten’s opera ‘Noye’s Fludd’. This famous story focuses on a collective response to a climate emergency – a very relevant message at present and the aim of the production was to be as sustainable as possible. ZSEA provided education for participating schools as well as assisting with animal themed choreography for Noah’s ‘animal’ friends!
Upcoming Projects for 2025
Home Education
March 2025 will see the launch of our new home education project, aimed at widening our audience for formal education by connecting up to 5,000 home educated children with nature through our brand new sessions, resources and online programme.
Amphibian & Reptile Conservation Trust – Hop Spots
We have recently partnered with ARC to help deliver a new 3-year education project for native amphibian and reptile conservation across East Anglia. This lottery funded project will enter its development phase in 2025, due to launch mid/end of 2026.
Community Strategy Developments
Inclusivity and Accessibility
2024 saw meaningful steps toward making our zoos more welcoming and equitable:
∙Zoos for All - A fully equipped Changing Places facility was installed and opened at Africa Alive in March, match funded by East Suffolk Council.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
∙Breckland Council - Rural England Prosperity Fund
Phase 1 – Match funding towards a £100,000 project supporting website redesign, wayfinding, educational signage, and the installation of a stretch tent on Banham Zoo’s events field. These elements were actively underway in 2024, with completion targeted for early 2025. Phase 2 - Lift Replacement: Additional match funding was approved for the replacement of the disabled access lift in the Banham Zoo giraffe house, with installation scheduled for early 2025.
∙Marketing Collaboration: Accessibility and inclusivity were embedded into the new website and signage design through close collaboration between operational and creative teams.
Wellbeing & Wildlife
Animal welfare and staff wellbeing remained central to our mission:
∙Species Planning and Welfare Reviews: Internal reviews aligned animal collections with strategic priorities, focusing on welfare-led decisions and operational capacity (“reduce to grow”).
∙Staff Development: Cross-training and professional development initiatives supported team resilience and operational flexibility.
∙Habitat Enhancements: A new climbing platform for tigers at Banham Zoo was successfully delivered, fully funded and constructed by MKM Building Supplies.
∙Conservation Partnerships: Construction began on the native species pool frog project in collaboration with Natural England, reinforcing ZSEA’s commitment to UK biodiversity.
Sustainability and Energy
ZSEA’s sustainability agenda gained traction through practical improvements and strategic planning:
∙Energy Efficiency Gains: Consumption at Banham Zoo tracked slightly under expected usage, while Africa Alive saw a year-on-year reduction from September to November.
∙Decarbonisation Planning: Opergy Group’s decarbonisation report for Banham Zoo was commissioned with Breckland Council’s support, with delivery expected mid-December.
∙Zellar Platform Access: ZSEA gained a one-year subscription to Zellar, an online sustainability coaching and carbon tracking tool.
∙EV Charging Exploration: Discussions with RAW Charging and Goymour Properties continued regarding electric vehicle charging points at both zoos and Applewood car park.
∙Heating Systems Review: Initiated to identify safe, efficient solutions for habitats and commercial spaces.
∙Borehole System Reinstatement: Preparatory work began to reinstate the borehole water system expected to be up and running early 2025.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
Together for Wildlife – Fundraising Campaign
In 2024 ZSEA launched the Together for Wildlife fundraising campaign, a bold initiative to galvanise public support for conservation and education. The campaign attracted new interest from donors and partners, including:
∙£10,000 grant from the Alan Boswell Foundation toward the Penguin Project
∙£10,000 legacy donation from a supporter’s estate
∙Engagement with a local construction company, offering support and a potential financial contribution toward the development of a Conservation Education Centre
We are hugely grateful for the significant support we receive from local businesses towards the upkeep and development of our parks and particularly the enrichment of our animal lives. During 2024 the value of these donated goods and services exceeded £70,000 and included a tiger platform, improvements to housing for red river Hogs, snow leopards as well as bedding, food treats etc.
The campaign reinforced our message: wildlife conservation is a shared responsibility, and together, we can make a lasting difference.
Volunteers
Currently we have 175 active volunteers which is a 15% growth from last year, with 18 new applicants at the application stage and 19 waiting to be inducted. Our volunteer offering has expanded with volunteers now able to get involved with maintenance tasks, driving the trains and visitor engagement as well as the normal volunteer activities of manning walkthroughs, diet prep, cleaning & generally assisting Keepers. During 2024, volunteers gave a total of 11,056.83 volunteering hours which translated into a value in excess of £135,000. Raising funds 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 must come from other sources and in 2025, our objective is to increase legacy and further fundraising initiatives to support our work. We are investing in our fundraising capability and will be working with Creativity Unbound and Felton Fundraising during 2025, to develop our team and approach. 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 seeks 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 2024.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Objectives and activities (continued)
d. Future developments
Trustees are mindful of the on-going political and economic uncertainties. Visitors are becoming more cautious, expecting greater value for money at visitor attractions as they respond to the harder economic climate. The Charity has responded, offering pre-booking discounts, seasonal opening and events planning to attract the widest range of visitors.
The key aims for the next 12 months will be to continue the 3 year journey back to a secure financial footing. A considerable improvement in the financial results for 2025 is being achieved through the application of flexible ticket pricing, careful cost management and controlling, improving operational business processes and efficiency and accessing funding opportunities. This will enable the following operational aims, which include:
∙Driving visitor numbers through effective marketing strategies.
∙Market growth of membership and building community schemes through digital platforms
∙Defining a strong member proposition
∙Maintaining and rebuilding financial reserves which are vital to support the charity through the uncertain economic climate
∙Capex investment into continued maintenance of high standards of animal welfare and wherever possible the continuing implementation of the ZSEA Conservation, Conservation Education and Community strategies.
∙Rebuilding and consolidating teams to improve operational and cost efficiencies.
∙Growing our native species conservation work within the East of England through collaborations.
∙Introducing further conservation research projects internally.
∙Developing our conservation education teaching programmes
∙Continuing our work within SEND departments in local schools through outreach programmes.
∙Continuing our support and work to promote mental health and wellbeing benefits in connecting to nature.
∙Developing new initiatives for our community to ensure our spaces are accessible for all.
Achievements and performance
Financial review
a. Financial performance
The Charity has faced a number of challenges since 2023 and is working towards a period of financial recovery which is expected to take 3 years to fully achieve. Significant progress has been made during 2024 to change the culture and approach to business. The cost base for the Charity has been reduced and an efficient winter operating model introduced, supported by coordinated staffing and cross-department flexibility. Staffing costs are monitored daily to match resources to visitor demand. We continue to investigate opportunities to enhance the long-term sustainability of the Charity, including new areas of business and identifying where financial performance can be improved. We have been supported in this approach by our lenders, local authorities, business partners and donors, who remain keen and active in support of the Charity.
Trustees are optimistic that financial performance will continue to improve and a return to profit is anticipated in 2025, despite the challenging economic background. The Charity has a short-term financing requirement over the winter months, which is supported by an on-going overdraft facility of £500,000 and short term deferment of loan repayments. It is planned to return to a positive operating result and cash position by 2026 as performance improves and long term loans cease during 2025 and 2026.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Financial review (continued)
Income for 2024 of £6,191,511 (2023: £7,209,237) is 14% lower than the previous year and reflects 15% lower visitor numbers at 329,656 (2023: 390,119), the economic conditions having impacted on local tourism and repeat visits to the zoos. Expenditure levels were proactively managed throughout the year, cognisant of the anticipated lower income receipts, impact of price increases and high costs across animal feed, veterinary, maintenance and National Living wage increases which had to be absorbed. Total expenditure was £6,694,140 (2023: £8,408,454) a reduction of 20% on the previous year, as a consequence.
Net expenditure for the year was a loss of £502,629, a considerable improvement on the prior year loss of £1,199,217 and representative of the planned improvement in performance in line with the Charity’s 3 year recovery plan. The group's net assets are £2,280,763 (2023: £2,783,392), the decrease reflecting the year's deficit. The key financial performance indicators are the weekly number of visitors and their spend per head. The consolidated balance sheet of the group on 31 December 2024 is shown on page 26, with the consolidated income and expenditure account on page 25 and the consolidated statement of cash flows on page 29.
b. Going concern
In addition, a rolling 12 month forecast profit and loss account, balance sheet and cashflow is prepared on a monthly basis to ensure that the Charity has funds to invest and remains within its available cash and reserve targets. The modelling considers the macro and micro-economic factors, which include changes in National Living Wage, changes in taxes, inflation, interest rate changes, the cost-of-living crisis and rising prices, particularly energy. The management team work closely with its lenders to secure sufficient working capital to maintain liquidity across the winter operating period, due to the seasonal nature of the business. At the same time, the Management Team continue to look for opportunities to increase visitor numbers, yields and reduce costs through efficiencies and renegotiations. Based on these reviews, 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 going concern basis can be found in the Accounting Policies. 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.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Financial review (continued)
c. Reserves policy
The Trustees prime focus is cash reserves in order to ensure that the Charity maintains a financial cushion in case of disruption to operations through extraordinary circumstances. This approach has been successful during a very turbulent few years since 2020 and enabled the charity to successfully navigate the cost of living crisis, the energy crisis and served to ensure the Charity can continue to repay borrowing, including the CBILS Loan, which were required to maintain financial stability during the Covid pandemic. Target cash reserves are currently set to cover a three month period with an average available cash balance of £0.5m, including overdraft facilities. At the year end, there were total unrestricted funds of £2.0m, with a further £22k in restricted funds. After excluding restricted funds and tangible fixed assets, free reserves in the charity amounted to a deficit of £1,638k. Cash reserves are £20k (excluding the overdraft facility) which is below of the agreed cash reserve policy, however these fluctuate during the year due to the seasonal nature of the business. The Trustees and Management will continually monitor cash reserve levels closely, particularly given the ongoing economic uncertainty and requirement for a bank overdraft facility.
d. Investment policy and performance
The charity holds fluctuating cash reserves due to the seasonal nature of the business. The charity aims to hold between 2-4 months cash reserves during the year, with surpluses placed on bank deposit with a 32 day account, and current interest rates provide 4% return.
e. Risk management
The Trustees have assessed the major risks to which the Company and the Group is exposed, those related to the operations and finances of the Company and the Group and are satisfied those 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 quarterly at the Trustees' meeting and is updated by Management on an ongoing basis. The key risks identified and managed by the Trustees during the year were:
∙Financial – The rising and uncertain costs of energy and utilities and managing cash balances to meet financial commitments
∙Operational – The impact of notifiable disease outbreaks e.g. Avian flu and potential closure of a zoo
∙Compliance risks – maintaining the zoo structure adequately to meet licensing requirements
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Structure, governance and management
a. Constitution
The Zoological Society of East Anglia Limited is registered as a charitable company limited by guarantee, incorporated in 2013. The governing instrument is the Memorandum and Articles of Association. The Society is registered as a charity in England and Wales, registration number 1150158.
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.
b. Methods of appointment or election of Trustees
In line with good governance the Board seeks to maintain a balanced mix of knowledge, skills, and expertise to manage the assets of the Society effectively. During the next few years, ZSEA will be actively recruiting further trustees with a diversity of skills to support their charitable objectives, as it is noted that the Trustee rotation is upon us, and we are therefore looking to recruit to replace.
c. Policies adopted for the induction and training of Trustees
d. Remuneration policy
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 several industry references sources. The Board of Trustees agree it.
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Structure, governance and management (continued)
e. Organisational structure and decision-making policies
Members of the Society's governing Board are Trustees of the Society. The Board's role is to oversee the proper management and development of the Society according to its aims and objectives, to ensure that the Society complies with prevailing legislation and regulations, and to make decisions on the key matters facing the Society. The Board met formally eight times during the year.
The full Board normally meets four times a year to review strategy and performance. Informal meetings were held in the year where Trustees hold a particular area of expertise to support members of the Leadership Team. The remit included, but was not limited to:
∙reviewing the financial statements and recommending them to the Board for approval;
∙monitoring implementation of recommendations in audit reports;
∙risk management, audit, and investment policy;
∙management of governance and Health and Safety; and
∙animal welfare.
All day-to-day management was delegated to the CEO with the support of the Leadership team.
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.
Statement of Trustees' responsibilities
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
∙so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
∙that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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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
We have audited the financial statements of The Zoological Society of East Anglia Limited (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended
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.
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 conditions that, individually or collectively, may cast significant doubt on the group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve 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 sections of this report.
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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 (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
∙the Trustees' Report has been prepared in accordance with applicable legal requirements.
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.
We have nothing to report in respect of the following matters in relation to which 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.
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.
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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 (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements 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 statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
The objectives of our audit in respect of fraud are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both the management and those charged with governance of the group. Due to the field in which the group operates, we identified the areas most likely to have a direct material impact on the financial statements as compliance with zoo regulations, UK accounting standards, the Companies Act 2006, and the Charities Act 2011. In addition, we considered the provisions of other laws and regulations which, whilst not having a direct impact on the financial statements, are fundamental to the charitable company's ability to operate including health and safety, employment law, environmental regulations and compliance with various other regulations relevant to the operation of the group. Our approach to identifying and assessing the risk of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations, included the following:
∙Enquiry with management about any actual or potential litigations and claims against the group;
∙Enquiry with management about any known or suspected instances of non-compliance with laws and regulations and fraud;
∙Reviewing legal and professional fees for indicators of undisclosed legal proceedings;
∙Reviewing the charity's ongoing license to operate and reviewing findings of any regulatory inspections taking place during the year or after;
∙Reviewing Board meeting minutes;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
∙Assessing the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance; and
∙Auditing the risk of management override of controls, including through testing of journal entries and other adjustments for appropriateness.
Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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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 (CONTINUED)
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
This report is made solely to 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 charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Berry & Warren
54 Thorpe Road
Norwich
NR1 1RY
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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 2024
Page 25
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 08250951
CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2024
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 08250951
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
Page 27
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
The company's net movement in funds for the year was £(
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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 ZSEA Zoo Hq The Zoological Society of East Anglia, Kenninghall Road, Banham, Norfolk, NR16 2HE.
2.Accounting policies
The Consolidated Statement of Financial Activities (SOFA) and Consolidated 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.
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.
A rolling 12 month forecast profit and loss account, balance sheet and cashflow is prepared on a monthly basis to ensure that the Charity has funds to invest and remains within its available cash and reserve targets. The modelling considers the macro and micro-economic factors, which include changes in National Living Wage, changes in taxes, inflation, interest rate changes, the cost-of-living crisis and rising prices, particularly energy.
The charity has secured an overdraft of £500k secured to March 2026, with support for this to be extended until September 2026 and agreement on short term deferment of loan repayments, if needed. Based on this, the Trustees have a reasonable expectation that the Charity 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.
Page 30
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.
Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
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.
Proceeds from the sale of annual passes is initially deferred and subsequently released on a straight line basis across the period to which the pass relates. Donations are recognised in the period in which they are received.
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.
Page 31
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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.
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 institution with whom the funds are deposited.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Page 32
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
Assets in the course of construction are not depreciated until after they are brought into use.
Page 33
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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 Consolidated Statement of Financial Activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Zoo livestock is carried out £Nil value.
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:
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 reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
Page 34
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 35
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 36
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 37
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
8.Analysis of expenditure by activities (continued)
Page 38
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 39
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 40
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 41
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13.Tangible fixed assets (continued)
Page 42
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The following was a subsidiary undertaking of the company:
The financial results of the subsidiary for the year were:
Turnover - £2,017,269
Expenditure - £1,843,399 Profit - £173,870 Net assets - £267,901
Page 43
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 44
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The bank loan is secured by a fixed and floating charge over the assets of the company.
Page 45
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The bank loan is payable over a 10 year period, commencing in 2017. Interest is charged at 2.55% over base rate.
In May 2020 the Charity was also granted a Coronavirus Business Interruption Loan of £900,000. The loan is for 6 years from first drawdown and carries interest of 1.49% above bank base rate. Interest charged in the first 12 months from drawdown is paid by the government. The bank loan is secured by a fixed and floating charge over the assets of the company.
Page 46
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 47
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 48
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
20.Analysis of net assets between funds (continued)
Page 49
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £64,649 (2023 - £77,776). £11,371 (2023 - £17,660) was payable to the fund at the balance sheet date and is included in creditors.
Page 50
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THE ZOOLOGICAL SOCIETY OF EAST ANGLIA LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 51
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