18
WWT Report and Financial Statements 2012/13
Financial review
The year ended 31 March 2013 saw a 2% increase in total income compared
with last year thanks to increased support from members and donors. This is
despite 2012/13 being the wettest on record, which greatly challenged income
at our wetland centres, particularly admissions and associated retail and
catering income.
Expenditure for the year was £17.9m (2011/12: £17.8m).
Of this expenditure, £6.2m was spent on our network
of nine UK wetland centres, £2.6m on wetland nature
conservation, £1.4m on learning programmes and £3.1m
on visitor and membership services. In addition, £3.9m
related to the cost of goods sold from WWT’s restaurants
and shops, and £0.7m was spent on generating voluntary
income and managing grant income, charity governance
and investment management. Excluding the costs of
goods and services traded, 95% (2011/12: 95%) of
expenditure was attributable to charitable activities. In
addition to this expenditure, capital investment totalled
£1.1m of which the most significant additions related
to the new Weird and Wonderful exhibit and adventure
play area at Martin Mere, the new flamingo exhibit and
restaurant improvements at Slimbridge and a new otter
exhibit at the London Wetland Centre.
WWT Council’s investment policy includes ethical
screening with the intention of aligning WWT’s
investments to its charitable objectives as far as possible
whilst at the same time maintaining income and growth.
The market value of WWT’s investments as at 31 March
2013 resulted in an increase of £0.6m.
Overall, WWT’s unrestricted funds have decreased by
£2.4m, much of which is attributable to the unrealised loss
Voluntary income
Income from bird adoptions has remained constant and
donations increased generously to £0.9m. A list of many
of our donors can be found in note 35. Legacy income
received was higher than expected with some large
and very generous legacies being received during the
year. Legacy income remains a very important revenue
stream for WWT and we encourage people to donate,
remember us in their will or help in other ways on our
website
The costs of generating voluntary income fell slightly to
£496k. These costs include the staff and other costs of
raising donations, managing the bird adoption scheme
and promoting and administering legacy income. The
costs also include the application and management of
restricted grant income shown under ‘grants and service
contracts’ in the financial statements.
generated by the year-end FRS17 valuation of the defined
benefit pension scheme. The challenging times have
necessitated a careful re-evaluation of all the investment
plans, but investment in the organisation continues, as set
out in the future plans section of the Report of the Council
on page 25. Restricted funds have remained the same,
the net result of spending on grant funded projects being
offset by project funding.
Voluntary
income
2012/13 2011/12
£0
£1,000.000
£2,000.000
£3,000.000
£4,000.000
£5,000.000
£6,000.000
Legacies
Activities for
generating funds
Admissions
Memberships
Grants and
Contracts
Other
Income
