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← North Devon Agricultural Society

2025-10-31-accounts

Charity registration number 1071618 (England and Wales)

Company registration number 03588826

NORTH DEVON AGRICULTURAL SOCIETY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

NORTH DEVON AGRICULTURAL SOCIETY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees lan Allin
Mr C Boundy
MsA Buckpitt
Chris Dart
Henry Dart
Graham Kivell
Mark Ley
Grania Phillips
Louise Pyle
Elizabeth Quick
Brenda Savery
David Snow
Alice Watson
Secretary Mrs. TSoanes
Charity number 1071618
Company number 03588826
Registered office 15 GeorgeArcade
South Molton
Devon
United Kingdom
EX36 3AB
Independent examiner MatthewWebb FCA
Azets Audit Services
UnitA, Woodlands Court
Truro Business Park
Truro
Cornwall
United Kingdom
TR4 9NH
Bankers Lloyds Bank
5 High Street
Bideford
EX39 2AD
Solicitors Peter Peter&Wright
6-8 Fore Street
Holsworthy
Devon
United Kingdom
EX226ED

NORTH DEVON AGRICULTURAL SOCIETY

CONTENTS

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Page
Trustees’ report 1-5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9-20
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NORTH DEVON AGRICULTURAL SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 OCTOBER 2025

The trustees present their annual report and financial statements for the year ended 31 October 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the society's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP “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)".

Objectives and activities

Charitable objects

The advancement of agriculture and horticulture for the benefit of the public in North Devon and surrounding areas and to support or assist such other charitable institutions or purposes as the company shall from time to time determine.

One day agricultural based show focussing on agricultural education and rural life including showcasing a wide range of agricultural as well as local businesses in North Devon, not connected to the agricultural sector.

The trustees have complied with the duty in the 2011 Charities Act to have the due regard to guidance published by the Charity Commission.

Powers

In furtherance of the objects but not otherwise, the society may exercise the following powers:

1) To hold an annual show or shows;

2) To raise funds and to invite and receive contributions provided that the society shall not undertake any permanent trading activities in raising funds for its charitable object and shall conform to any requirements of law.

3) To buy, take on lease or in exchange any property necessary for the achievement of theobjects and to maintain and equip it for use.

4) Subject to any consents required by law to sell, lease or dispose of any part of the property of the society.

5) Subject to any consents required by law to borrow money and to charge all or any part of the property of the society with the repayment of the money so borrowed.

6) To buy the services of such individuals (who shall not be Directors) as are necessary for the property pursuits of the objects.

7) To co-operate with other charities, voluntary bodies and statutory authorities operating in furtherance of the objects or of similar charitable purposes and to exchange information and advice with them.

8) To establish or support any charitable trusts, associations or institutions formed for all or any of the objects.

9) To appoint and constitute such advisory committees as the Executive Committee may think fit.

10) To do all such lawful things as are necessary for the achievement of the above objects.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the society should undertake.

-1-

NORTH DEVON AGRICULTURAL SOCIETY TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

Achievements and performance Review of Development, Activities and Achievements

The society's principle source of funding is derived from the annual show.

North Devon Show is a one day agricultural show in North Devon, promoting education of agriculture, with North Devon and business within the North Devon area, attracting between 16,000 — 20,000 visitors per year.

Provide educational informative day out to include agricultural education and wider pursuits and supporting businesses, showing a diversity of other businesses in North Devon being a rural area. Equally maintaining the proposed budget figures with mindfulness of expenditure.

Sponsorship is sought from local businesses, exhibitors and individuals to help cover outgoing expenditure. Annual non-refundable Membership from individuals sold in advance.

The most significant positive and negative factor outside of the Society’s control is the weather, adverse weather reduces gate numbers and good weather increases numbers with extreme adverse weather causing last minute cancellation. Adverse weather will greatly reduce the number of attending visitors.

The Economic climate is out of the control of the Society which could affect the attendance numbers, likewise agricultural disease alerts as well as national health alerts listed by the Government.

Volunteers

All committee members and show stewards are volunteers and without their valuable support and work it is unlikely that the show would be able to take place in its current form.

Investment Policy

The society does not have a specific investment policy. The committee have delegated powers to the secretary to move monies between the bank accounts as required in order to obtain the best rate of return.

Financial review

Finances

The attached financial statements show the current state of the finances which the Trustees consider to be sound. There was a surplus of unrestricted funds of £34,568 (2024: £24,847) and unrestricted funds carried forward of £92,448 (2024: £62,485) with restricted funds carried forward of £9,864 (2024: £5,259).

It is the policy of the society that unrestricted funds which have not been designated for a specific use (after deducting fixed assets) should be maintained at a level equivalent to one year's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the society's current activities while consideration is given to ways in which additional funds may be raised. The reserves are currently below this level. The society is not yet in a comfortable financial position for where the society would like to be, however, the Trustees are working to re-build the deficit.

The principal uncertainty facing this Charity is the weather. The weather is key due to the annual show being held on agricultural land and not hard standing. Temporary roadway is erected to alleviate a cancellation and loss of income with marquee coverage covering some areas of the showground. Another principal risk is the rising cost of Suppliers services which we are continually monitoring by price comparisons.

The Asset Register is undertaken annually and monitored for any tangible fixed asset which is not required going forward for the future shows and will be sold accordingly to release funds for the Society. Caution is taken on expenditure, sourcing new income and continually following avenues to increase the Society's income streams to build up reserves and be in a comfortable financial position to cover two consecutive forthcoming shows.

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NORTH DEVON AGRICULTURAL SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

Going Concern

While the Trustees believe that the Society can continue to operate as a going concern with the current level of reserves there continues to be material uncertainty regarding this as one of the main income streams for the show, ticket sales, is very much dependent on the weather on the day.

The Society had a further successful year, achieving a surplus of £34,568. This surplus has resulted in an improvement in the level of reserves held, strengthening the Society's financial position following a successful previous year’s event in 2024.

Despite this improvement, the Trustees recognise that the reserves do not fully protect the Society from the potential impact of a significant deficit arising from adverse weather conditions or the last-minute cancellation of the annual event. As the Society’s income is largely dependent on a single show day each year, weather remains an uncontrollable factor that cannot be reliably budgeted for, and this continues to represent a material risk to the Society’s financial sustainability.

The Trustees are aware of this risk and, in both the current and prior periods, have exercised tighter financial control. This is evidenced by reduced expenditure and the increase in reserves achieved during the year. These prudent financial management practices are being maintained and will continue to inform planning for the next show, scheduled to be held in 2026.

Having considered the Society’s financial position, the level of reserves held, and the ongoing management of financial risk, the Trustees continue to adopt the going concern basis in the preparation of the financial statements. This reflects their expectation that the Society will continue in operation for the foreseeable future.

Plans for future periods

Future Plans

The Trustees intend to continue holding the annual show in furtherance of the key objectives of the society, which is to provide a good family one day show.

Risk Management Policy

The committee meet regularly to monitor the risks that the society faces and to establish systems and strategies to minimize these. The principal risks are those of the loss of the show due to either weather problems or disease outbreaks such as foot and mouth. The committee hopes to reduce these by improving the all weather facilities on the showground and building up reserves to finance this.

Reserves Policy

The aim of the society was and is to hold sufficient reserves to be able to cover one show. However two years cancelled due to Covid have depleted those reserves and although the Society had a brilliant attendance in 2022, the increased costs and drop in exhibitor trade immediately following Covid meant that profit was minimal.

With the atrocious weather in 2023 seriously impacting on the gate income on the day, the society is in a position where expenditure exceeded income 3 out of the previous 4 years - which is unprecedented.

The Society were determined to continue in 2024, knowing it does have the backup of its assets which, were the society to suffer another deficit, it can sell to offset some of the expenditure. And a lot of work has taken place round budgeting to reduce costs, to ensure that an “average” year will bring in a better level of return to the society to support rebuilding our reserves. This approach continued in 2025 and whilst the shows reserves are still not where ideally they would like, they are heading in the right direction.

Public Benefit

The annual agricultural show is open to the general public and entrance fees are kept as low as economically possible.

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NORTH DEVON AGRICULTURAL SOCIETY

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

Structure, governance and management

The society was incorporated as a company limited by guarantee on 26 June 1998 and is registered with the charity commission (no. 1071618). The charity took over assets of the former charity North Devon Agricultural Society (no. 1043968) which ceased on 2 November 1998.

The charity is governed by its Memorandum and Articles of Association reviewed and re-adopted in February 2021.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: lan Allin

Mr C Boundy

Ms A Buckpitt

Chris Dart Henry Dart Graham Kivell Matthew Latham Mark Ley Peter Ley Carol Norman Grania Phillips Louise Pyle Elizabeth Quick Brenda Savery David Snow Alice Watson Melanie Davies

(Resigned 28 February 2025)

(Resigned 10 November 2025) (Resigned 20 January 2026)

(Resigned 28 February 2025)

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NORTH DEVON AGRICULTURAL SOCIETY

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

The directors and trustees are appointed by the Executive Committee with ratification at the following Annual General Meeting. Every year, one third of the directors must resign and stand for re-election. The society is administered on a day to day basis by the secretary, with decisions being taken by the Executive Committee or Trustees during regular routine meetings. If required, Ad Hoc meetings are convened. The Executive Committee reports to a General Committee to keep that body informed of progress in the development of the show.

A Welcome and Introduction by the Chairman takes place with other key staff members including a copy and review of the Charity's governing document, annual and monthly reports, briefing on the Charity's financial position, including income, expenditure, and reserves.

Trustees have regular updates from the Show Office on current financial position, relevant training courses, workshops and conferences. The Society's subscription to the Association of Agricultural Organisations provide regular information on latest guidelines.

The present Chairman, Mark Ley and the Society Secretary, Theresa Soanes deal with the day-to-day management of the charity.

The Trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity, ensuring that the financial statements comply with the Companies Act 2006 and Charities Act 2011. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities and to provide reasonable assurance that:

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The trustees’ report was approved by the Board of Trustees.

Mark Ley Elizabeth Quick Director Director

Date: .3/-@3.°20ZE6 oo.

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NORTH DEVON AGRICULTURAL SOCIETY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTH DEVON AGRICULTURAL SOCIETY

| report to the trustees on my examination of the financial statements of North Devon Agricultural Society (the society) for the year ended 31 October 2025.

Responsibilities and basis of report

As the trustees of the society (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the society are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, | report in respect of my examination of the society's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the society's grass income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. | confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination, other than that disclosed below, giving me cause to believe that in any material respect:

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached other than draw attention to the material uncertainty in relation to going concern disclosed and explained in note 1.2.

UpAlecs Wye

Matthew Webb FCA

Azets Audit Services Unit A, Woodlands Court Truro Business Park Truro Cornwall TR4 9NH

Date: Ii AVELU Zor lb

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NORTH DEVON AGRICULTURAL SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2025

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income from:
Donations and legacies 2 13,665 5,000 18,665 10,273 6,705 16,978
Charitable activities 3 306,193 - 306,193 285,882 - 285,882
Investments 4 495 - 495 294 - 294
Total income 320,353 5,000 325,353 296,449 6,705 303,154
Expenditure on:
Raising funds 5 135 - 135 185 - 185
Charitable activities 6 290,255 395 290,650 275,562 2,560 278,122
Total expenditure 290,390 395 290,785 275,747 2,560 278,307
Net income 29,963 4,605 34,568 20,702 4,145 24,847
Transfers between
funds - - - (1,114) 1,114 -
Net movement in
funds 8 29,963 4,605 34,568 19,588 5,259 24,847
Reconciliation offunds: funds:
Fund balances at 1 November
2024 62,485 5,259 67,744 42,897 - 42,897
Fund balances at 31 October
2025 92,448 9,864 102,312 62,485 5,259 67,744

The statement of financial activities includes ail gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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NORTH DEVON AGRICULTURAL SOCIETY

BALANCE SHEET AS AT 31 OCTOBER 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible asseis 12 18,858 19,969
Current assets
Stocks 13 1,465 1,600
Cash at bank and in hand 89,073 47,425
90,538 49,025
Creditors: amounts falling due within
one year 14 (7,084) (1,250)
Net current assets 83,454 47,775
Total assets less current liabilities 102,312 67,744
Income funds
Restricted funds 15 9,864 5,259
Unrestricted funds
General unrestricted funds 71,267 41,304
Revaluation reserve 21,181 21,181
92,448 62,485
102,312 67,744

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 October 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statemen re-approved by the Trustees on <3/..5-,. ZTE

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— Mark Ley Elizabeth Quick
Director Director
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Company registration number 03588826

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

Charity information

North Devon Agricultural Society is a private company limited by guarantee incorporated in England and Wales. The registered office is , 15 George Arcade, South Molton, Devon, EX36 3AB, United Kingdom.

The financial statements have been prepared in accordance with the society's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of ireland" and the Charities SORP “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)". The society is a Public Benefit Entity as defined by FRS 102.

The society has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the society. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the society will continue in operational existence for the foreseeable future, however, the trustees are aware of certain material uncertainties which may cast doubt on the Society's ability to continue as a going concern. As the Society's income is largely dependant on a single show day each year, weather remains an uncontrollable factor that cannot be reliably budgeted for. Adverse weather conditions impacting on ticket sales or last minute cancellation of the annual event increase the risk that the charity does not generate sufficient funds to enable to the Society to continue operating or meet its liabilities as they fall due.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Cash donations are recognised on receipt. Other donations are recognised once the society has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the society has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

-Q-

NORTH DEVON AGRICULTURAL SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

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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.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Ceniral staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Leasehold improvements Between 4 and 10 year straight line basis Cups 15% reducing balance Equipment 50 year straight fine basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the society reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. ff any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks are stated at the lower of cost and estimated selling price less casts to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the society's contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the pericd in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the society is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

2 Donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Donationsand gifts 1,622 5,000 6,622 926 5,500 6,426
Government grants received 750 - 750 - 1,205 1,205
Membership fees 11,293 - 14,293 9,347 - 9,347
13,665 5,000 18,665 10,273 6,705 16,978

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

3 Income from charitable activities

Entry fee Trade
stands		 Gate
receipts		 Selling
rights		 Sponsorshi
pmoney		 Sundry Total Total
2025 2025 2025 2025 2025 2025 2025 2024
£ £ £ £ £ £ £ £
Sales within chartiable activities 7,547 84,749 167,463 18,061 21,100 7,273 306,193 285,882
Analysis by fund
Unrestrictedfunds 7,547 84,749 167,463 18,061 21,100 7,273 306,193 285,882

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

3 Income from charitable activities (Continued)
Previous year: Entry fee Trade
stands		 Gate
receipts		 Selling
rights		 Sponsorshi
pmoney		 Sundry Total
2024 2024 2024 2024 2024 2024 2024
£ £ £ £ £ £ £
Sales within chartiable activities 10,234 88,505 142,634 16,231 18,513 9,765 285,882
Analysis by fund
Unrestrictedfunds 10,234 88,505 142,634 16,231 18,513 9,765 285,882

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

4 Income from investments

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||||| |---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2025|2024| |£|£| |Interest|receivable|495|294|

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5 Expenditure on raising funds

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|||| |---|---|---| |Trading|costs| |Other|trading|activities|

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||| |---|---| |Unrestricted|Unrestricted| |funds|funds| |2025|2024| |£|£| |135|185|

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2025

6 Charitable activities

2025 2024
£ £
Depreciation and impairment 1,110 2,687
Ticket sales costs 332 159
Badges& Rosettes 2,072 3,191
Prize money 9,240 9,119
Hire fees 102,346 95,999
Judges fees 2,017 631
Catering 7,687 6,961
Insurance 2,274 489
Haulage, material & labour 3,056 35,625
Veterinary& farrier 140 140
Security, policing & medical services 25,861 11,839
Field rent &watercharges charges 14,343 13,112
Attractions & displays 10,386 5,355
Licences & training 3,913 793
Sundry expenses 2,008 725
186,785 186,825
Share ofsupport costs (see note 7) 97,803 89,499
Share ofgovernance costs (see note 7) 6,062 1,798
290,650 278,122
Analysis by fund
Unrestricted funds 290,255 275,562
Restricted funds 395 2,560
290,650 278,122

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

7 Support costs allocated to activities

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|||||||||| |---|---|---|---|---|---|---|---|---| |Support costs|Governance|Total|Total| |costs| |2025|2025|2025|2024| |£|£|£|£| |Loss|on|disposal|of tangible|assets|-|-|-|91| |Honorarium|650|-|650|650| |Secretary's|fees|&|expenses|37,969|-|37,969|30,148| |Secretary's|assistants|9,299|-|9,299|7,480| |Office|rent|9,789|-|9,789|9,387| |Electricity|2,342|-|2,342|3,063| |Advertising|11,189|-|11,189|10,179| |Printing,|stationery|and|computer|software|11,013|-|11,013|9,597| |Telephone|and|administration|costs|5,133|-|5,133|6,994| |Affiliation|fees|225|-|225|563| |Dinner|and|other|meetings|3,245|-|3,245|4,188| |Charitable|donations|500|-|500|500| |Bank|charges|4,543|-|4,543|3,737| |Equipment|hire|1,841|-|1,841|2,821| |Repairs|and|renewals|65|-|65|101| |Accountancy|-|6,062|6,062|1,644| |Legal|and|professional|-|-|154| |97,803|6,062|103,865|91,297| |8|Net|movement|in|funds|2025|2024| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Fees|payable|for the|independent|examination|of the|charity's|financial| |statements|1,625|1,644| |Depreciation|of owned|tangible|fixed|assets|1,110|2,687| |Loss|on|disposal|of tangible|fixed|assets|-|91|

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9 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year. (2024: nil)

10 Employees

The average monthly number of employees during the year was:

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||| |---|---| |2025|2024| |Number|Number| |2|2|

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

10 Employees

(Continued)

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel The remuneration of key management personnel was as follows:

Aggregate compensation

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||| |---|---| |2025|2024| |£|£| |34,358|30,678|

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11.‘ Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12

Tangible fixed assets

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|||||||||| |---|---|---|---|---|---|---|---|---| |Leasehold|Cups|Equipment|Total| |improvements| |£|£|£|£| |Cost| |At|1|November 2024|70,767|21,815|53,706|146,288| |At|31|October 2025|70,767|21,815|53,706|146,288| |Depreciation|and|impairment| |At|1|November|2024|70,712|6,837|48,771|126,320| |Depreciation|charged|in|the|year|55|436|619|1,110| |At|31|October 2025|70,767|7,273|49,390|127,430| |Carrying|amount| |At|31|October 2025|-|14,542|4,316|18,858| |At|31|October|2024|55|14,979|4,935|19,969|

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13 Stocks

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||||||| |---|---|---|---|---|---| |2025|2024| |£|£| |Raw|materials|and|consumables|1,465|1,600|

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

14 Creditors: amounts falling due within one year
2025 2024
£ £
Other taxation and social security 952 -
Other creditors 2,592 -
Accruals and deferred income 3,540 1,250
7,084 1,250

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds Movement in funds Movement in funds Movement in funds
Incoming
resources		 Resources
expended		 Transfers Balance at
1 November		 Incoming
resources		 Resources
expended		 Balance at
31 October
2024 2025
£ £ £ £ £ £ £
Educational
Trail 5,500 (241) - 5,259 5,000 (395) 9,864
Bus service 1,205 (2,319) 1,114 - - - -
6,705 (2,560) 1,114 5,259 5,000 (395) 9,864

The society has restricted funds relating to the educational trail and the bus service.

16 Analysis of net assets between funds

Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 October 2025:
Tangible assets 18,858 - 18,858
Current assets/(liabilities) 73,590 9,864 83,454
92,448 9,864 102,312

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NORTH DEVON AGRICULTURAL SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025

16 Analysis of netassets between funds (Continued)
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 October 2024:
Tangible assets 19,969 - 19,969
Current assets/(liabilities) 42,516 5,259 47,775
62,485 5,259 67,744

17 Operating lease commitments

Lessee

Lease payments recognised as an expense in the period totalled £13,110 (2024 - £13,110).

At the reporting end date the society had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fali due as follows:

2025 2024
£ £
Within one year 13,110 13,110
Between two and five years 52,440 52,440
In over five years 39,330 52,440
104,880 117,990

The annual rental is set to increase to £14,516.20 per annum upon the provision of alternative premises replacing the sheep shed. The annual rental is set to be reviewed on 31 August 2028.

In the event of either party giving notice to the other during the first three years of the agreement (up to 1 August 2026) the party giving notice shall upon the expiry of same and the termination of the Agreement in consequence pay to the other party a sum of £10,925.00.

18 Related party transactions

During the year, the charity entered into the following transactions with trustees:

The charity incurred costs for fuel for machinery of £140 (2024: fnil) from L Pyle, a trustee. There were no amounts outstanding at 31 October 2025 (2024: Enil).

The charity incurred costs for cleaning of £100 (2024: £nil) from D Snow, a trustee. There were no amounts outstanding at 31 October 2025 (2024: Enil).

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