2024-03-31-accounts

virtuals￿n81vre Transaclior Rel. RFVY-FI<F2-7Y83 19 D8c 2024 16..41'.44 GMT (UTC +0) 0 515 P 1146 Registered number: 03757410 Charity number: 1077561 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 'ADIFTKFK 2111212024 COMPANIES HOUSE A11

7

Bishop Fleming

VIrtualS￿n81u1e Tiansact*￿ Ref. RFVY.FKFZ.7Y83 19 Oec 2024 16:41.44 GMT (UTC +0) 0 515 P 2146 TORBAY COAST & COUNTRYSIDE TRUST {A COMPANY UMITED BY GUARANTEE) CONTENTS Page Reference and Admlnlstratlve Detalls of the Companyi Its Trustees and Advlsers Trustees, Report Independent Auditors, Report on the Financial Statements Consolldated Statemont of Flnanclal Actlvltles 10-13 14 Consolidated Balance Sheet 15 Company Balance Sheet Consolidated Slatement of Cash Flows 16-17 18 Notes to the Flnanclal Statements 19-44

WirtualSignatur8 Tr4nsa¢w Ref. AFVY.FKF2-7Y83 19 2024 16..41-.44 f•MT IIJTC +0) 0 515 P 3146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees A Johnstone (resigned 19 December 2023) R Knight C Sawas (appointed 12 June 2023, resigned 8 March 2024) S Roseveare (appointed 12 June 2023) M Abbot (appointed 19 December 2023) T Herbert (appointed 19 December 2023) J Lowes B King, Chair {appointed 23 January 2023) G Burchell (appointed 23 January 2023) Company reglstered number 03757410 Charlty reglstered number 1077561 Reglst•r•d office Occombe Farm Preston Oown Road Paignton Devon TQ3 1RN Company secretary D Wynn Chlef executiv• offic•r H Warren Independent auditors Bishop Fleming LLP Chartered Accountants 2nd Floor Stralus House Emperor Way Exeler Business Park Exeter EX13QS Bankers Lloyds 8ank plc 51-52 Fleel Slreet Torquay Devon TQ2 5DW Solicitors Wollens Carlton House 30 The Terrace Torquay Devon TQ11BS Page 1

Virtu¥lSlgn•lur• Tr•nsactiM Rol. RFVY-FKF2-7Y83 19 Dec 2024 16".41'.44 GMT (UTC 401 o ws P 4146 TORBAY COAST & COUNTRYSIDE TRUST {A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the consolidated financial ststements and auditors, report about the Charity and its subsidiaries for the year ended 31 $1 March, 2024, which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles ol Association and 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). REPORT OF THE CHAIR The results for the year have been adversely and significantly impacted following a critical review of the Fixed Asset Register, resulting in a write-off of assets amounting to £288,536.00 which has had an adverse impact on the reported results for the year and reserves. However, despite various challenges, there has been an improving situation because of tighter Cost controls and a much-improved financial accuracy, which has helped to make informed decisions regarding Trust activities, crucial to undertake the work necessary enabling the public to benefit from the 80°h of green spaces wilhin Torbay that the Trust cares for. The Trust is currently in negotiations with Torbay Council regarding the renewal oflhe Service Level Agreement ISLAI for the maintenance and development of the 1700 acres of natural and built heritage that is such precious resource lor Torbay. The relationship was established 25 years ago and. as the current level of funding no longer rellects the true operational cost for the Trust in delivering this commitment, 8 full review of the partnership is both necessary and timely. Despite challenging low reserves, the Trust has found ways to reduce cost, improve efficiency and meet its liabilities over the last 12 months. Viable external options have been proposed for reducing risk and developing future financial sustainability while the SLA is negotiated and those continue to be investigaled. However, the impact of the recent Budget announcement on staff costs from April 25 will increase the pressure on reserves further in the coming year, giving uncertainty as to how the Trust will meet all of its objectives and financial liabillties until these options are confimied. I would like to thank the Management team, staff members, volunteers and Trustee colleagues and advisors who collectively enable the Trust to funclion at its optimum level. OBJECTS AND ACTIVITIES Aims The Charity's core objects, as sgt out in the Memorandum and Articles of Association adopted in February 2021, are.. "To promote the conseniation. protection and improvement of the physical, natural and built environment and heritage of Torbay and surrounding area-: "To provide or assist in the provision of facilities in the interests of social welfare for appropriate recreation and leisure time occupation commensurate with (a) with the objective of improving the conditions of life for those living in working or visiting Torbay and the surrounding area., and "To advance public education in environmental and heritage matters in Torbay and the surrounding area and of ways of sustainin9, conserving, protecling and improving the same." The Charity's overall aim is encapsulated in its mission statement which is.. "To protect land, conserve nature and strengthen the bonds between people and the natural world of Torbay.. Page 2

viriualS￿na￿re Tr8ns8¢1ion Rel. RFVY.FKF2-7Y83 19 Dec 2024 16..41..44 GMT (UTC +0) 0 515 P S146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Trust seeks to achieve its charitable objects through.. Managing an extensive area of land {approx. 1,700 acres) to achieve environmental, wildlife conservalion, heritage, landscape (public amenity) and public recreation benefits. Delivering a range of engagement and educational activities to improve public understanding of the natural environment, Torbay's natural herita9e. environmental issues (including Climate Change) and sustainable lifestyles. Developing and delivering projects to restore and enhance Torbay's heritage for which we seek partner contributions and grant funding. To date, we have secured over £11M in funding for enhancing and restoring Torbay's natural and built heritage. Working in partnership to protect and enhance Torbay's heritage. improve recreational provision and facilitate greater understanding of the importance of our heritage. Facilitating the contribution of volunteers towards achieving all the above. Supporting volunteers in learning new skills, 'giving something back,, developing friendships and camaraderie. Fundraising to finance delivery of the above through a combination of grants, membership, fundraising events, propety rentals and commercial enterprises. The Trust's Strategic Plan 2016-2021 includes the following vision statemenl: 'Our vision 1$ ofa Torbay where a high quality, good condition natural environment is an integral part ofTorbay's future. where the countryside, coast and marine environment are in better condition than they are now., where terrestrial and marine wildlife is thriving, where our natural and built heritage is respected and valued and where people can access and enjoy our precious heritsge without damaging it.. SIGNIFICANT ACTIVITIES UNDERTAKEN IN THE PERIOD Occombe Recovery The positive commercial wntribution of Occombe continues to be a focus with detailed financial reporting for each Department being scrutinised to manage costs and understand customer needs during challenging e¢onomi¢ limes. The Café, with two addilional drinks and snack outlets, continues to perform well with a loyal customer base and well*stablished team offering quality food and service. Farm Park & Play continues to be enloyed by the local community as well as summer visitors and offers a great environment for youngsters especially during inclement weather, Focus on events during the year has been well received as we have not had the funds to develop the Play equipment this year but after a review of running costs, is becoming more financially sustainable. The retail offering continues to be a commercial challenge, in particular establishing its identity in order for it to benefit from the increased footfall seen in other areas. Land Management TCCT is dedicated to the sustainable management of Torbay's diverse landscapes, encompassing coastal cliffs, woodlands, grasslands, and agricultural areas. The Trust's approach prioritises the conseNation of biodiversity, protection of heritage sites, and engagement with the local community. We are indebted to our loyal group of volunteers who dedicate time and expertise to support the wider work of the Trust. Hope's Nose Slle of Speclal Sclentific Interest The antisocial behaviourchallenge at Hope's Nose has diminished and regular litter picks carried out by TCCT, volunteers and partners. The Trust continued to engage with partners to explore and develop a mutually acceptable solution lo the problem. B•rry Head Natlonal Nature Reserve Berry Head now benefits from a dedicated and passionate Engagement Ranger, funded through the Community Infrastructure levy in partnership with Torbay Council. This post raises awareness of the fragile limestone grasslands and associated habitats that make Berry Head such a unique place. The Guardhouse Café also attracts significant visitors and has to w wiw the Trust to manage the impact of that additional age

VirtualS￿￿TraIUre Tran5aci¢on Rel. RFVY-FKF2-7Y83 19 Oec 2024 16.'41'.44 GMT (Lrrc +01 0 515 P 6146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 footfall. Unft)rtunately, here also there was an increase in anti-social behaviour in and around the lower quarry. which appeared to be associated with fishing over the summer months. As with Hope's Nose, the Trust is taking a multi-agency approach. Cocklngton The grounds of Cockington Estate, with its beautiful parklands, remained a major attraction for the Bay. It continues to attract large numbers of tourists and is enjoyed in every season by the community and has received the Green Flag Award for the 27th year. Occombe Farm Whilst the fam is based at Occombe, the Ruby Red Herd and flock continue to graze 650 acres across Torbay as part of the Land Management objective. 8lomass The operation retained its customer base. maintaining sufficient stockpiles of timber for seasoning. Public Access The Trust continued to maintain over 40 miles of footpaths (a combination of permissive paths and Public R￿htS of Way) and the majority of the SW Coast Path through Torbay. Education and Engagement We continue to work with local schools and groups on our sites. engaging with them to experience the natural world and increase their awareness. Woodland 300/0 of the Trust land is woodland with extensive public access and proximity to property presenting its own management challenges in more recent weather conditions and disease risk. Projocts Mltigatlon and Compensation Schemes Glllard Road Nature Reserv• (Wall Park Ecologlcal Mitlgation Project) The management of Gillard Road Nature Reserve continued in line with the management plan, The reseNe remains popular with visitors. Over winter Cirl Buntings continued to frequent the arable field. Compensatory Habltat Provlslon for Clrl Buntlngs In Cockington We continue to provide the appropriate habiial for the scheme. Cockington Grassland Provlslon We continued to establish areas of unimproved grassland within Ihe fields above Garnekeeperfs Cottage. Volunteerlng Long term (Lfd) and community volunteer programmes had reopened in early 2021 but recruitment of LTVS and community volunteers continued to be slow in part due to the legacy of the pandemic. The Trust recognises the valuable impact of the Volunteers and wants to ensure a consistent experience that is mutually beneficial. Trustees would like to take this opportunity to thank all the volunteers for the work they do throughout the year. Fundraising Membership has seen a slight increase over the previous period and will continue lo be a focus of the Marketing Team along with new mechanisms to boost support for the TrusL Page 4

VirtualSwjnotu￿ Tran5aclion ROF. RFVY-FKF2-7Y83 19 De¢ 2024 16..41.'44 GMT IIIYC. +01 0 S15 P 7146 TORBAY COAST & COUNTRYSIDE TRUST IA COMPANY UMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ORGANISATIONAL DEVELOPMENT A new CEO and Group Financial Controller joined the organisation and are working through a full review of operations. A Marketing Communications Manager also joined during this period to develop a more cohesive brand strategy. PUBLIC BENEFIT STATEMENT The Trustees have reviewed the activities of the chaflty in the light of the guidance published by the Charity Commission on public benefit. The Trustees are satisfied that the Trust's activities are for the public benefit, relating as they do to the conservation of the environment and heritage of Torbay. This benefits the community in maintaining important heritage and environmentsl assets for people of the area and visitors to the area lo enjoy. FINANCIAL REVIEW Consolidated income for the year ended 31 March 2024 amounted to £3,116.329 {2023'. £3,34,111). There were no additions to restricted funds during the year (2023.. £Nil). There was an overall deficit for Ihe year of £514,048 (2023: deficit £473,982), including a deficit of £257,270 (2023= deficit of £381,220) on unrestricted funds, and total funds carried forward at 31 March 2024 amounted to £2,956,383 (2023.. £3,470,791) with £2,672,249 (2023.. £2,929,387) classified as restricted. Unrestricted funds carried forward were £284,134 {2023.' £541,404), including £864.833 (2023.. £799,427) which the trustees have designated for specific purposes. Net Cash inflow for the year ended 31 March 2024 amounted to £25,372 (2023 oufflow of £117,350) and at the year end the Group's cash resources were severely depleted. GOING CONCERN INhilst the Trust's financial perfomance and stsnding continued to be Challenging, signs of Improvement, reflected in the results and cash flows summarised above, with a substantial increase in income and a reduction in the deficil, were evident as the capital works at Occombe farm were completed and the Park and Play visitor attraction finally opened whilst a number of iniliatives lo enhance the financial performance of the Farm Shop were undertaken.The support of Torbay Council for the turnaround plan discussed in last year's Report was critical, and, again as discussed last year, provided the opportunity for the development of a more comprehensive new Business Plan, with Its focus on new revenue streams, alongside enhanced financial discipline and cash management, implemenled for the current financial year ending 31 March 2024 Inflationary and recessionary factors remain but management and Trustees continue to be encouraged by signs of progress. In the new financial year, the Trust has operated substantially in line with budget and cash flow, although remaining tight, is better controlled. Small investments in growth initiatives have been possible and educational activities have been successfully relaunched, within the Park and Play operation. Other opportunities for new revenue streams have been identified by a largely new management team, for development as funds allow. This progress has been underpinned by revised funding arrangements with the Council, effective from April 2023 and part of the continuing and committed support and encouragement of the Council for the Trust's operations. Notwithstanding these signs of progress the Trustees recognise that significant challenges remain ahead. However, having reviewed the position in some depth, including the budget for the year ending 31 March 2025 and related financial projections, and in the expectation of the continued support of the Council, the Trustees are satisfied that the Trust will have sufficient resources to meet its liabilities as they fall due for at least the next ￿e1ve months and that accordingly it is appropriate to prepare the Trust's financial statements on a going concern basis. However. the Trustees also acknowledge that, given the deficits incurred, the precarious financial position of the Trust and that an increase in council support is not guaranteed, a material uncertainty exists in relation to events or conditions that cast significant doubt on the Trust and Group's ability to realise its assets and discharge its liabilities in the nonnal course of business and to continue as a going concem. The financial statements do not reflect the adjustments that would be necessary should the ability of the Trust and Group to trade be jeopardised due to the material uncertainty. Page 5

VirtualSKJnaiufe Tran58clion Ref. RFVY.FKF2-7Y83 19 OeG 2024 16..41..44 GMT (UTC +01 0 515 P 8146 TORBAY COAST & COUNTRYSIDE TRUST IA COMPANY UMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 RESERVES POLICY The trustees remain commitled to achieving a meaningful level of free reserves (unrestricted reSe￿e$, excluding those designated for specific purposes and those represented by capital assets) in line with Charity Commission best practs'ce. However, at 31 March 2024, the Trust's consolidated free reserves were in deficit to the extent of £3,464,040 (31 March 2023.. £3,404,963) The predicted positive financial impact of the Occombe Redevelopment has been slower than expected and further recovery options are being considered. PLANS FOR FUTURE PERIODS Alongside ils focus on developing Occombe as a leading deslination for Torbay and improving Its financial performance, the Trust will continue to deliver its core programme of land management. seeking to manage and enhance Torbay's natural heritage and facilitating access. As Occombe progresses to generating surplus, it is anticipated that the Trust will be able to expand delivery of its three charitable objects to the benefit of the community and visitors. RISK MANAGEMENT The Trust has reviewed and updated the Strategic Risk Register, before referral to the Board. This register comprises Ihose issues Ihat are considered to present a significanl strategic risk to the organisalion (lower level 'operational' risks are dealt with through risk assessments for specific operations>. The Slrategic Risk Register includes all Governance, Financial, Management, Operational. Repulalional, Health & Safety and Compliance Risks. which are deemed to have the potential to jeopardise the overall viability (operational andlor financial) of the organisation andlor significantty impair the organisation's ability to deliver its charitable purposes. The principal risks on the Strategic Risk Register al the end of March 2024 identified as fequiring further action were as follows.. Governance We continue to recrult additional trustees to strengthen the board's capacity and range of expertise, as and when required. Financial Cash flow remains a major concern due to minimal reserves. Accurate, relevant and timely Financial Reporting remains of paramount importance to enable the Trustees to make infomied assessments. Management Over reliance on limited resources to drive foNiards fijrther development and improvement of the organisation. Limiled resources for the recruitment and coordination of volunteers; volunteers are vital for the Trust to deliver charitable purposes. Operational Compliance - a full Internal audit is required to ensure the organisation is compliant in areas such as IT and health & safety to reduce potential risk. INVESTMENT POLICY AND PERFORMANCE The Trust's policy has been to place surplus cash funds in Short term investments with reputable institutions, for example bank notice deposits. The trustees recognised that unattractive concentrations of funds may arise and that investment returns may not match those available on longer term andlor higher risk strategies. Certain of the funds described as either restricted or designated (for example those provided under s106 arrangements) have been received by the Trust wilh the requiremenl thal they are invested in order to produ a return on investment sufficient to fully fund the obligations of the related agreements. Recognising the need to obtsin a better return than was possible for cash deposits, the Trust determined that it should invest a significant part of its restricted and designated funds into one or more schemes that would provide the required rate of return to fully fund the obligations arising from the agreements. Trustees believed that the redevelopment at Occombe would meet these requirements and investment of the cash balances representing the restricted and designated funds complemented external funding in financing the redevelopment of Occombe. Page 6

Virtualsignalure Transacknon Rel. RFVY.FKF2.7Y83 19 Dec 2024 16..41'.44 GMT (UTC +0) D 515 P 9146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY UMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT CONSTITUTION The Company and the Group is constituted under a memorandum of association and is a registered charity no 1077561. The principal object of the Trust and the Group is to promote the conservats'on, protection and improvement of the physical, natural and built environment and heritage of Torbay and the surrounding area. Method of Appointment or Election ol Trustees As set out in the Articles of Association, the Chair of the Board of Trustees is appointed by a vote of the board of the Trust at each AGM. The Deputy Chair and appointments to the various sub-committees are also decided by the board at each AGM. There is no maximum period of seniice specified. The Memorandum and Articles provides that there must be a minimum ofthree trusteeswith no maximum specified and that a third ofthe trustees (those of longest service) shall retire at each AGM but that they may stand for immediate reryelection at that AGM. The Board of Trustees has the power to Co￿p1 further members and obseNers to the board in be￿een AGMS in order to secure specialist expertise or to gain experien¢e. Prior to each AGM. existing board members are advised of any retiring trustees including those who wish to immediately re-join the board at the AGM. Existing board members are also notified of any individuals requiring fomial nominats'on to become trustees at the AGM. Ilvhen seeking and appointing new trustees, the Board considers the skills and experience of existing trustees in order to ensure that the Board has the necessary skills to guide the Charity. New trustees may be soughl by word of mouth, open advertisement or through existing members. Prospective trustees are initially interviewed informally by the Chair. Depuly Chair and the Chief Executive. Suitable candidates may then be invited to attend one or more board meetings as observers. Candidates deemed suitable by existing trustees to join the board as Iruslees are then invited to submit a formal nomination. which must be supported by ai least existing trustees, for consideration at the next AGM. The trainin9 and induction provided for new trustees will depend upon their existing experience but would always include an introduction to the Charity, visits to the key Sites and briefings on the Trust'swork by members of the Senior Management Team. All new trustees are provided with copies of policies, procedures, minutes. accounts, budgets, plans and other documents that they will need to undertake their role. Advantage is taken of specific courses and guidance offered by the Charity Commission, Local Authority and other bodies. Organlsational Structure and Declslon Making The Board of Trustees normally meets quarterly. The Board establishes an overall framework for the governance of the Charity and detemines membership, terns of reference and procedures of committees and other groups. It receives reports including policies from its committees for rats'fication. It rnonitors the activities of the committees through the minutes of their meetings. The Board may from time to time establish other working groups to perfonn specific tasks over a limited timescale. Page 7

virtuals￿n81u￿ Transaclion Ref. RFVY-FKF2-7Y83 19 Dec 2024 16..41.'44 GMT (UTC +0) D 515 P 10146 TOR8AY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 There are four committees as follows.. Finance Committee meets monthly and monitors financial and business perfonnance (including compliance with reporting and regulatory requirements). It also incorporates many of the responsibilities of an Audit Committee. Land & Coast Committee - meels approximately quarterly prior to each full board meeting. To assist and guide a Co￿rdinated approach to the management of the Trust's land, adjoining coastline and buill assets Commercial Committee - to oversee and advise the board of trustees on all matters related to the commercial activities of the charity, ensuring alignment with the organisation's mission, values, and regulatory requirements Governance Committee meets quarterly To monitor and seek continuous improvement in the perfonnance of the Board, Trustees and the CEO and introduce processes and policies which hold the Trust accountable for its performance and behaviours The following decisions are resenied to the Board of Trustees.. to consider any proposals for changes to the status or constitution of the Charity and its committee structure, to appoint or remove the Chairperson andlor Vice Chairperson, to approve the Annual Development Plan and budgel. The Trustees are responsible for setting strategic priorities, general policy, adopting the annual plan and budget, approving the stalutory accounts and monitoring charitable delivery. The Trustees are responsible for makin9 major decisions about the direction of the Charity, capital expenditure and appointment of the Chief Executive. KEY MANAGEMENT PERSONNEL The Trustees and Board of Trustees have devolved responsibility for day to day management of the Charity to the Trust's key management personnel which includes the CEO, Group Financial Controller, Farm & Estates Manager and General Manager. Related Party Relationshlps Trustees receive no remuneration or other benefit from their roles as trustees for the Charity. They may be paid for work they undertake in a professional capacity independent of their role as a trustee and all such payments must be disclosed to the full 8oard of Trustees in the same way as any other contractual relationship with related paty. No trustees received direct payment during 2023-2024. Subsidiary Undertakings The Charity has a wholly owned subsidiary, Torbay Coast & Countryside Enterprises Limited ('TCCE').TCCE holds and operates the Trust's commercial activities. including the Occombe Farm Park and Play, Fam Shop and Cafe activits'es, which generate funds for the Trust's charitable work. INFORMATION ON FUNDRAISING PRACTICES The Trust does not physically approach the public with requests for Money or employ and has not employed or use a professional fundraiser in this regard. The Trust occasionally utilises crowd funding to raise money for specific projects (e.g. replanting The Grove WCK)dland). The Trust periodically approaches existing members and supporters (those signed up to our newsletter) for contributions lo specific projects. The Trust does invite people to leave legacies in their will through infomiation on our website and a leaflet periodically distributed to solicitors. The Trust has engaged fundraising consultants to prepare and submit applicats'ons to grant-making trusts for contributions towards the costs of regenerating Occombe Fam. Page 8

Vw¢ualSlgnalur8 Tran$8¢1ion Rel. RFVY-FKF2-7Y83 19 08c 2024 10'.41..44 GMT iurc +0) D $15 P 11146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY UMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. RESPONSIBILITIES STATEMENT The Truslees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expendilure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accountlng policies and then apply them consistently: observe the methods and principles of the Charities SORP (FRS 102)., makejudgmenls and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements: prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explaln the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities DISCLOSURE OF INFORMATION TO AUDITORS Each of the persons who are trustees at the time when this Trustees report is approved has confimed that.. so far as the director is aware. there is no relevant audit information of which the Company's auditors are unaware, and the trustees have 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 Company's auditors are aware of that infomiation SMALL COMPANIES NOTE In preparing this report. the directors have taken advantage of the small companies exemptions provided by section 41 SA of the Companies Act 2006. The Trustees. Report, incorporating a strategic report, was approved by order of the Board of Trustees, as the company directors and signed on its behalf by.. Barbara King Chair of Trustees Date.. 19 December 2024 Page 9

VirtualSignalur8 Transaclv)n Ref. RFVY-FKF2-7Y83 79 Dec 2024 16..41-.44 GMT (UTC +0) 0 515 P 12146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TOTHE MEMBERS OF TORBAY COAST & COUNTRYSIDE TRUST Opinion We have audited the financial statements of Torbay Coast & Countryside Trust (the 'parent charitable company,) and its subsidiaries {the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities (incorporating the income and expenditure account), the Consolidated and Company Balance Sheets. the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparalion is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2024 and of the Group's incoming resources and application of resources. including its income and expenditure for the year then ended., have been properly prepared in accordance with Unrted Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance wilh the requirements of the Companies Act 2006. Basis for op5nlon We conducted our audrt in a¢¢ordance wrth Intemational Standards ori Audrting (UK) {ISAs (UKI) 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. Materlal uncertainty related to going concern We draw attention to note 1.3 In the financial statements, which indicates the financial position of the Group has deteriorated over the year to 31 March 2024 as a result of the continued under-performance of its Occombe Farm site. It also outlines that whilst improvements in performance have been achieved since the year-end, the Group remains in a precarious financial position. As stated in note 1.3. these events or conditions, along with the other matters as set forth in the note 1.3. indicate that a material uncertainty exists that may cast significant doubt on the Group's and the parent charitable compan￿$ abilty to continue as a going concern. Our opinion is not modified in respect of this matter. Other Infomiatlon The other information comprises the infomiation included in the Trustees Report and Financial Statements other than the financial statements and our Auditors. Report thereon. The Trustees are responsible for the other infomation contained within the Trustees Report and Financial Statements. 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 fomi of assurance conclusion thereon. Our responsibility is to read the other infomation and, in doing so, consider whether the other infomiation is materially inconsistent wilh the financial statements or our knowledge obtained in the course of the audit, or olhemise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied, 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. Page 10

VirfualSNJnalur¢ Transac￿On Rel. RFVY-FKF2-7Y83 19 Oec 2024 16..41.'44 GMT iurc +01 0 515 P 13146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF TORBAY COAST & COUNTRYSIDE TRUST {CONTINUED) Oplnlon on other matters pr•$cribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infomation given in the Trustees, Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees, Report and the Strategic Report have been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by excepllon In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report including the Strategic 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 rf, in our opinion.. the parent charitable company ha8 not kept, adequate and sufficient accounling records, or retums 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 accountlng 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. Responslbilities of trustees As explained more fully In the Trustees. Responsibilities Statement, the Trustees (who are also the directors of the chariiable company for the purposes of company law) are responsible for the preparation of the financial slatements and for being satisfied that they give a true and fair view, and for such inlernal control as the Trustees detemine is necessary to enable the preparation of financial siatements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable companvs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. Page11

trtU8lSwJnalure Transaction Ref. RFVY-FKFZ-7Y83 19 Dec 2024 16..41..a4 GMT (UTC +0) D SIS P 14M6 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF TORBAY COAST & COUNTRYSIDE TRUST {CONTINUED) Auditors. responsibilities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstalement, whether due to fraud or error, and to issue an Audilors, 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 malerial 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<ompliance wilh laws and Tegulations. We design procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. In idenlifying and assessing risks of material misstatement in respect of irregularities, induding fraud and non- compliance ￿llth laws and regulations, we considered the following: tha nature of the charity sector. control environrnent and the Group's and the parent charitable CoMpan￿S performance., results of our enquiries of management and the Trustee board, including the committees charged with governance over the Group's and the parent charitable companrfs finance and control, about their own identification and assessment of the risks of irregularities., any matters we identified having obtained and reviewed the Group's and the parent charitable compan￿8 documentation of their policies and procedures relating to.. identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non<ompliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud., the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations: and the matters discussed among the audit engagement team and involving relevant internal charity specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a resutt of these procedures, we considered the opportunities and incentives that may exisl within the organisation for fraud, which included incorrect recognition of Tevenue. rnanagement override of controls using manual journal enlries. We also obtsined an understanding of the legal and regulalory frameworks that the Group and the parent charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the detennination of material amounts and disclosures in the financial statements. In addition, we considered pn)visions of other laws and regulations that do not have a direct effect on the financial statements but compliance wilh which may be fundamental to the Group's and the parent charitable company's ability to operate or to avoid 8 material penalty. These included data protection regulations. occupational health and safety regulalions, eMplO￿ent legislation. Charities SORP 2019 and FRS 102. Our procedures to respond to risks identified included the following for the parent charitable company and Subsidiaries, as was considered appropriate: reviewing the financial statement disclosures arKI testlng to supporting documentation lo assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue., enquiring of management and those charged with governance concerning actual arml potential litigation and claims. performing procedures to confirm material compliance with the requirements of its regulators. Page 12

Vwtualsignaluie TranSaC￿On Ref. RFVY-FKF2-7Y83 19 Dec 2034 16..41".44 f7MT IIITC +0) D 515 P 1514fj TORBAY COAST & COUNTRYSIDE TRUST {A COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF TORBAY COAST & COUNTRYSIDE TRUST (CONTINUED) performing analyiical procedures to identify any unusual or unexpeded relatlonships that may indicate risks of material misstatement due to fraud., reading minutes of meetings of those charged with govemance and reviewing internal control reports., in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments: and assessing vthether the judgements made in making accounting estimates are indicakn've of a potential bias. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non<ompliance with laws and regulations throughout the audrt. Our audit procedures were designed to respond to risks of material misstatement in the financial statements. recognising that the risk of not delecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentalions or through collusion. There are inherent limitations in the audit procedures performed and the further removed non4ompliance with laws and regulalions is from the events and transactions reflected in the financial stalemenls, the less likely we would become aware of it. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's websrte at: véww.frc.or .uklauditorsres onsibilities. This description fomis part of our Audrtors. Report. Use of our r•port This report is made solely to the charitable companls members, as a body, in a¢¢ordance with Chapter 3 of Part 18 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charrtable companys 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. Mark Munro FCA (Senlor Statutory Auditor) for and on behalf of Bishop Fleming LLP Chartered Accountants Statutory Auditors 2nd Floor Stratus House Emperor Way Exeter Business Park Exeter EX13QS Date. /2/12/20L¥ Page 13

Virtual&yfialure Tfansaclion Rel. RFVY-FKF2-7Y83 19 Oec 2024 16..41.'44 GMT iurc +0) D 515 P 16146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Restrfcted funds- Revenue 2024 Restricted funds - Unrestricted Capital funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Contributions, donations and legacies.. Contribution to estate management from Torbay Council Memberships, donations and legacies Contributions, donations and legacies Charitable aclivities Other activities.. Fundraising Trading adivities Investments Other Income 490,000 490,000 507,488 177.387 177,387 121,220 39,049 314,047 328.474 328,474 102,380 2.017,212 279 697 102,380 2.017,212 279 697 71,336 2,135,881 24 145,066 Total income 3,116.329 3,116,329 3,334,111 Expenditure on: Raising funds Charitable activities 1,963,226 1,410,373 1,963,226 1,667.511 2,207,586 1,600,268 257,138 Total expenditure 257,138 3,373,599 3,630.737 3,807.854 Net movement In funds (257,138) (257,270) (514.408) (473,743) Reconciliation of funds: Total funds brought fon4vard Net movement in funds 771,361 2,158,026 1257.138) 541,404 1257,270) 3.470.791 (514,408) 3,944,534 (473.743) Total funds carri•d for4vard 771,361 1.900,888 284,134 2.956,383 3,470,791 The Consolidated Statement of Financial Activrties includes all gains and losses recognised in the year. The notes on pages 19 to 44 fom part of these financial statements. Page 14

Virtualsignaiuro Transa¢iion Ref. RFVY-FKF2-7Y83 19 Oec 2024 16..41.'44 r￿T IUTC 4010 515 P 17146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:03757410 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Flxed assets Tangible assels 12 4,784,239 5,307,762 4,784,239 5,307.762 Current assets Stocks Debtors Cash at bank and in hand 15 16 150,165 171,889 143.423 113,095 98,109 117,664 46S,477 328,868 Creditors- amounts falling due within one year 17 (980,523) {776,944) Net current liabllitles 1515,046) (448,076) Total assets less current Ilabilitles 4,269,193 4,859,686 Creditors.. amounts falling due after more than one year Provisions for liabilities 18 (1,307,636) 15,174) {1,384,011) <4,884) Total net assets 2,956,383 3,470,791 Charlty funds Restricted funds.. Restricted funds - revenue Restricted funds - caprtal 20 20 771,361 1,900,888 771,361 2.158.026 Total restricted funds Unrestricted funds 20 2,672,249 284,134 2,929.387 541.404 20 Total funds 2,956,383 3.470.791 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 on 19 December 2024 and signed on their behatf by.. BKL B King Chair of Trustees The notes on pages 19 to 44 fomi part of these financial statemenls. Page 15

VirtualS￿n8￿￿e Ttsn$a¢iion Rel. RFVY-FKF2-7Y83 19 Dec 2024 16-.41..44 C?MT11 ITC 40) D 515 P 18146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:03757410 COMPANY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets Investments 12 14 4,745,040 1,000 5,263,150 1,005 4,746,040 5,264,155 Current assets Stocks Debtors Cash at bank and in hand 15 16 92,197 153,754 77,439 50.911 162,025 65,485 323,390 278,421 Creditors.. amounts falling due within one year 17 (792,940) (612,458) Net current Ilabllitie$ (469,550) (334,037) Total assets less current liabilities 4,276,490 4,930,118 Creditors.. amounts falling due after more than one year 18 11.307,636) (1,384,011) Total net assets 2,968,854 3,546,107 Charlty funds Restricted funds.. Restricted lunds - Capital Restri¢t¢d funds - Revenue 20 20 1.926,693 771,361 2.158,026 771,361 Total restrieted funds Unrestricted funds 20 20 2,698,054 270,800 2,929,387 616,720 Total funds 2,968,854 3,546.107 Page 16

VirfualSvJnaiU￿ Tran$a¢iion Ref. RFVY.FKFZ.7Y83 19 Dec 2024 16..41..44 GMT IUTC +0) 0 515 P 19146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE REGISTERED NUMBER:03757410 COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2024 The Companls net movement in funds for the year was £(577,250) (2023 - £(206,263)). The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounling records and preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: BK( B King Chair of Trustees Date: 19 December 2024 The notes on pages 19 to 44 fom part of these financial statements. Page 17

VirtualSvJn•1u￿ Tran8a¢lion Rel. RFVY-FKF2.7Y83 19 2024 16..41..44 GMT (UTC +0) 0 515 P 2014ft TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Noto Cash flows from operatlng activitles Net cash used in operating activities 112,479 (58,757) Cash flows from Investlng a¢tlvltles (Profit)ILoss on disposal of tangible fixed assets Purchase of tangible fixed assets Interest received 18.839 (20,598) (106.317) 1597) Net cash used sn investing activitles (2.3561 1106.317) New finance leases Repayments of finance leases (67,622) (17,129) 50,600 (2,876) Change In cash and ca8h equlvalents In the year Cash and cash equivalents at the beginning of the year 25.372 1117.350) 235.014 117.664 Cash and cash equivalents at the end of the year 143,036 117,664 The notes on pages 19 to 44 form part of these financial statements Page 18

VirtU8lSynglure Tiansaciion Ref. RFVY-FKF2-7Y83 19 08c 2024 16..41.'4d GMT (UTC +0) D 95 P 2114fj TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles 1.1 COMPANY STATUS The company is a company limited by guarantee. The members of the Trust are the Trustees named on page 1. In the evenl of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. 1.2 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charrties: Slatement 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) {effe¢tive 1 January 2019), th• Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companles Act 2006. Torbay Coast & Countryside Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The Consolidated Statement of Financial Activlties (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Company and rts subsidiary undertakings, 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 nat presented ￿S own Stalement of Financial Activities in these financial statements. Page 19

VirtualSKjnal￿ Transaction Ref. RFVY-FKF2-7Y83 19 Oe¢ 2024 16."41."44 GMT IUTC 4010 51S P 22146 TORBAY COAST & COUNTRYSIDE TRUST IA COMPANY UMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (contlnued) 1.3 GOING CONCERN There was an overall deficit for the year ended 31 March 2024 of £514,408 (2023.. deficit £473,743). Net cash inflow for the year amounted to £25,372 (2023.. oufflow of £117,350) and at the year end the Group's cash resources were severely depleted. Whilst the Trust's financial performance and standing continued to lag aspirations, the Trustees believe that signs of improvement, reflected in the results and cash flows, were evidenl as the capital works at Occombe farm were completed and the Park and Play visttor attraction finally opened alongside a number of initiatives to enhance the financial performance of the Farm Shop. The impacts of Covid 19 largely abated but inflationary and other adverse macro*conomic pressures increased significantly over the period. The interim support of Torbay Council was critical. and provided the opportunity for the development of a more comprehensive new Business Plan, with its focus on new revenue streams alongside enhanced financial discipline and cash management, which has been implemented for the current financial year ending 31 March 2024. Inflationary and recessionary pressures remain but management and Trustees continue to be encouraged by signs of progress. In the new financial year the Trust has operaled substantially in line wrth budget and cash flow, although remalning tight. is belter controlled. Small investments in growth inrtiatives have been possible and educational adivities have been successfully relaunched, within the Park and Play operation. Other opportunities for new revenue streams have been identified by largely new management team, for development as funds allow. This progress has been underpinned by revised funding arrangements with the Council, effective from April 2023 and part of the continuing and committed support and encouragement of the Council for the Trust's operations. Notwrthstanding these signs of progress the Trustees recognise that significant challenges remain. However, having reviewed the position in some depth, including the budget for the year ending 31 March 2026 and related financial projections, and in the expectation of the continued support of the Council, the Trustees are satisfied that the Trust will have sufficient resources to meet its liabilities as they fall due for at least the next ￿e1ve months and that accordingly it is appropriate to prepare the Trust's financial statements on a going concern basis. However, the Trustees also acknowledge that, given the deficsts incurred, the precarious financial position of the Trust and that an increase in council support is not guaranteed, a material uncertainty exists in relation to events or conditions that cast significant doubt on the Trust and Group's ability to alise its assets and discharge rts liabilities in the normal course of busines8 and to continue as a going concern. The financial statements do not reflect the adjustments that would be necessary should the abilty of the Trust and Group to trade be jeopardised due to the material uncertainty. Page 20

VirtU8lS¥nalure Transaciion Ref. RFVY-FKF2-7Y83 19 08c 2024 16..41'.44 GMT iurc +01 0 $15 P TJ146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontinued) 1.4 INCOME All income is recognised once the Group has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliabty. 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. Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the rtem to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Group's accounting policies. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Group which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognised in expenditure in the period of receipt. Income tax recoverable in relation to donations received under Gift AKI or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the inleresl paid or payable by the Bank. Page 21

WirtvalS¥n•ivr¢ Trart$a¢lion Ref. RFVY-FKF2-7Y83 19 Dec 2024 16.,41..44 GMT (UTC +0) 0 515 P 24146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Icontlnued) 1.5 EXPENDITURE Expenditure is recognised once there is a legal or construdive obligation to transfer economic benefit lo a third party, it is probable thal a transfer of economic benefits will be reqUI￿d 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. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Costs of generaling funds are costs incurred in attracting voluntary Income. and those incurred in trading activities that raise funds. Costs of charltable activities and Governance costs are costs incurred on Ihe companls operations as included in note 3 and costs relating to the governance of the company apportioned to charitable activities. 1.6 BASIS ON CONSOLIDATION The financial statements consolidate thè accounts of Torbay Coast & Countryside Trust and all of its subsidiary undertakings ('subsidiaries'). The Trust has taken advantage of the exemption contained within 408 of the Companies Act 2006 not to present its own Income and expenditure account. The income and expenditure account for the year dealt with in the accounts of the Trust was a loss of £577.250 (2023.. £207,724). Page 22

Virtualsignaluie Transaciw Rel. RFVY-FKF2-7Y83 19 Oec 2n?4 16..41..44 GMT IUTC +0) 0 515 P 2of146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Icontlnued) 1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets are.initially r￿Ognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measuremènt of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases.. Freehold property Plant and machinery Motor vehicles Fixtures and fittings other fixed assets 6 - 50 years straight line 8 - 10 years straight line 4 years straight line 4 - 5 years straight line Livestock assets are value annually by the directors A review for impaimient of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls be￿een the carrying value of fixed assets and their recoverable amounts are recognised as impaimients. Impairment losses are recognised in the statement of financial activities. Changes in the valuation of livestock are included in the statement of financial activities. 1.8 INVESTMENTS Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost le55 impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on investments, in the Consolidated Statement of Financial Activrties. Investments in subsidiaries are valued at cost less provision for impaimient. 1.9 STOCKS Slocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 1.10 DEBTORS Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.11 CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturrty of three months or less from the date of acquisition or opening of the deposit or similar account. Page 23

VirtualSon8ture Tr3ns8¢tion Rel. RFVY.FKF2-7Y83 19 Dec 2024 16..4J.'44 GMY (UTC +0) D 515 P 26146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY UMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 1.12 UABILITIES Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a resutt of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabiliiies are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services rt must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate Ihat reflects the risks specific to the liability. The unwinding of the discount is recognis8d in the Consolidated Statement of Financial Activities as a finance cost. 1.13 DEFERRED TAXATION Full provision 1$ made for deferred tax assets and liabilities arising from all timing differences behveen the recognition of gains and losses in the financial statements and recognition in the tax Computation. A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable surpluses Irom which the future reversal of the underlying timing differences can be deduded. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets in the financial statements. Deferred tax assets and liabilities are not discounted. 1.14 FINANCIAL INSTRUMENTS The Group only has financial assets and financial liabilities of a kind that qualify as baslc financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.15 FINANCE LEASES AND HIRE PURCHASE Assets obtained under hire purchase contracts and finance leases are caprtalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease tem and their useful INes. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where subslantially 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. Page 24

Virtu8lSvJn8lur* Transa¢b¢)n Rel. RFVY.FKF2-7Y83 19 oec 2024 16..41'.44 GMT (UTC 401 D SIS P 27146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued 1.16 FUND ACCOUNTING General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have nol been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment incorne, gains and losses are allocated to the appropriate fund. Income from donations and legacles Unrestricted funds 2024 Total funds 2024 Total funds 2023 Contribution to estale management from Torbay Council Donations Memberships 490,000 104,059 73,328 490,000 104,059 73,328 507,488 72,949 87,320 667,387 667,387 667,757 TOTAL 2023 667,757 667,757 Page 25

virt1￿$VjnalVr8 Transaclion Ref. RFVY-FKF2-7Y83 19 Oec 2024 16.'41."44 CMT IIITf. +ni n 515 p ?W4fj TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Grants Education Rents 85,164 33 36,275 87,153 87,338 32,511 8S,164 33 36,275 87,153 87,338 32,511 53,794 21,297 47,857 116,635 74,464 Primary Trading Other Incoming Resources Feed in tariff income TOTAL 2024 328,474 328,474 314,047 TOTAL 2023 314,047 314,047 The whole of the tumover is attributable to the principal activities of the parent and the subsidiaries. All turnover arose withln the United Kingdom. Fundralsing Income Income from fundraising events Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Revenues from fundraising 102,280 102,280 71,336 TOTAL 2023 71,336 71,336 Page 26

Virtuals￿nal￿re TransaCil￿ Rel. RFVY-FKF2-7Y83 19 Dec 2024 16'.41'.44 GMT (UTC +0) D VS P 29146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Fundralslng Income {CONTINUED) Income from non charitable tradlng actlvltles Unrestricted funds 2024 Total funds 2024 Total funds 2023 Torbay Coast and Countryside Enterprises Limited 2,017.312 2,017.312 2,135,881 TOTAL 2023 2,135,881 2,135.881 Invoslment Income Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Investment income - bank interest ProfrfJ(loss) on disposal of investments in subsidiaries, asscciates and connected companies 564 564 24 (285) (2861 279 279 24 TOTAL 2023 24 24 Other Incomlng r•sourc•s Unrestricted funds 2024 Total funds 2024 Total funds 2023 Other operating income Lease surrender income 597 597 566 144,500 597 145,066 TOTAL 2023 145.066 145.066 Page 27

V¥lualS¥analure Transa¢tion Rel. RFVY-FKF2-7Y83 19 Dec 2024 18..41'.44 GMT IUTC +0) D 515 P 30146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raislng funds OTHER TRADING EXPENSES Unrestricted funds 2024 Total funds 2024 Total funds 2023 Cost of sales Administration expenses Interest payable Administration staff costs Administration depreciation 669,395 282,671 5,682 1,000,352 5,126 669,395 282,671 5,682 1,000,352 5,126 914,494 281,561 1.005,413 6,118 1,963,226 1,963,226 2,207,586 TOTAL 2023 2,207,586 2,207,586 Analysls of expendlture on charltable actlvltles Summary by fund type Restricted Unrestrictod funds funds 2024 2024 Total 2024 Total 2023 Property and land management costs Vehicle and fam machinery costs Administration Costs Wages and Salari&s Depreciation Govemance Costs Loss on disposal of fixed assets 283,932 59,472 335,514 457,277 165,006 27 109,145 283.932 59.472 335.514 457,277 242.753 27 288,536 408,006 40,942 255,459 649,102 246.745 14 77,747 179,391 257,138 1,410,373 1,667,S11 1,600,268 TOTAL 2023 92,523 1,507.745 1,600,268 Page 28

Virtualspanature Transaction Rel. RFVY.FKF2-7Y83 19 Dec 2024 16'.41."44 GMT (UTC +0) D 515 P 31146 TORBAY COAST & COUNTRYSIDE TRUST {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Auditors, remuneratlon 2024 2023 Fees payable to the Companls auditor for the audit of the Companys annual accounts 19,750 20,000 10. Staff costs Group 2024 Group 2023 Company 2024 Company 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 1,321,044 90,403 1,505,688 100,759 404.118 34,277 580,978 44,383 46,209 48,082 18,909 23,757 1,457,666 1,654,529 457,304 649,116 The average number of person8 employed by the Group during the year was as follows: Group 2024 No. Group 2023 No. Charitable activities Trading activities Support staff; Costs of generating fund5 Support Staff,. Charitable activltles 11 13 60 61 11 86 90 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was.. Group 2024 No. Group 2023 No. In the band £60,001- £70,000 The number of stsff accruing pension benefits is 61 (2023.. 50). The total remuneration paid to key management personnel during the year was £151,014 (2023.. £229,970). Page 29

VirtualStrJnaiure Tfansaclion Re¥. RFVY-FKF2-7Y83 19 De¢ 2024 16..41'.44 GMT (UTC *OI D 515 P 32146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Trustees. remuneratlon and oxpens•s During the year, no Trustees received any remuneration or other benefits (2023 - £NIL>. 12. Tanglble fixed assets GROUP Flxtures and flttings Land and buildings Plant and Motor equipment vehicles Llvestock Total COST OR VALUATION At 1 April 2023 Additions Disposals 5,613,483 1,843,417 20,598 228,590 880,276 142.709 8,708.475 20.598 {478.348) 1459,509) 118,839) At 31 March 2024 5,153,974 1,864,015 228.590 880,276 123.870 8.250,725 DEPRECIATION At 1 April 2023 Charge for the year On disposals 1,015,225 58,499 1170,973) 1,491,074 221.612 115,921 6.531 672,802 66,795 3,400,713 236,746 1170.973) At 31 March 2024 902.751 1.606,995 228,143 728,597 3,466,486 NET BOOK VALUE At 31 March 2024 4,251,223 257,020 447 151,679 123,870 4,784.239 At 31 March 2023 4.598.258 352,343 6.978 207,474 142,709 5,307,762 Page 30

Virtualsignalure Transac11￿ Rel. RFVY-FKF2-7Y83 19 Dec 2024 16..41..44 GMT (UTC 4010 515 P 33146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Tangible fixed assets {CONTINUED) COMPANY Fixturos and fittings Land and buildlngs Plant and equlpment Motor vehlcles Llvestock Total COST OR VALUATION At 1 April 2023 Addition8 Disposals 5,594.982 1.773,941 20,598 221,090 738,772 142,709 8,471,494 20,598 118,839) {478,348) (459.509) At 31 March 2024 5,135.473 1,794,539 221,090 738,772 123,870 8,013,744 DEPRECIATION At 1 April 2023 Charge for the year On disposals 1,011,069 1,440,901 214,670 541,704 3,208,344 58,212 {170,973) 113.508 6,420 53.193 231,333 (170.973) At 31 March 2024 898,308 1,554,409 221,090 694,897 3,268,704 NET BOOK VALUE At 31 March 2024 4,237,165 240,130 143,875 123,870 4,745,040 At 31 March 2023 4,583,913 333,040 6,420 197,068 142,709 5,263,150 13. Tangible fixed assets held under finance leases The net book values of assets held under finance leases or hire purchase contracts, included above, are as follows: 2024 2023 Plant and equipment Motor vehicles Fixlures and fittings 72,071 87,925 6,423 50,600 42,528 TOTAL 2024 114,599 144,948 Page 31

Virtuals￿n81Ur¢ Tran5athton Rel. RFVY.FKF2-7Y83 19 Dec 2024 16..41."44 GMT IUTC +0) D 515 P 34148 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14. Fixed asset Investments Investments In subsldiary companies COMPANY COST OR VALUATION At 1 April 2023 Disposals 1,005 At 31 March 2024 1,000 Prfnclpal subsldlarl•$ The foll¢)wing was a subsidiary undertaking of the Company.. Name Company number Princlpal activlty Holdlng Included in consolldatlon Torbay Coast and Countryside Enterprises Limited 03855040 Restaurants and cafés The Registered office or principal place of business for the subsidiary Is O¢¢ombe Fami Preston Down Road, Preston. Paignton, Devon, TQ3 1 RN. 15. Stocks Group 2024 Group 2023 Company 2024 Company 2023 Finished goods and g¢)ods for resale 150,165 113,095 92,197 50,911 Page 32

W*tvalSKJn8lui8 Tran5￿Cl10n R¢f. RFVY-FKF2-TY83 19 D8c 2024 16'.41.'44 GMT (UTC +01 D SS P 35146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Debtors Group 2024 Group 2023 Company 2024 Company 2023 DUE WITHIN ONE YEAR Trade debt¢rs Amounts owed by group undertakings Other debtors Prepayments and accrued income 27,296 17,789 19,117 7,962 76,161 6,958 70,944 $4,822 89,771 8,958 73,362 64,822 79,815 171,889 98,109 153,754 162.025 17. Croditors: Amounts falling due wlthln one year Group 2024 Group 2023 Company 2024 Company 2023 other loans Trade creditors Other taxation and social security Obligations under finance lease and hire purchase contracts Other creditors Accruals and deferred income 41.264 213,389 68,124 42,385 98,193 73,052 41,264 148,751 24,493 42,385 37,050 43,104 9,871 26.232 621.643 11,617 25,756 525,941 9.871 26.232 542,329 11.617 25.756 452,546 980,S23 776,944 792.940 612,458 Page 33

Virtualsignalure Tfan5aclion Ref. RFVY-FKF2-7Y83 19 Dec 2024 16."41."44 GMT (UTC +0) D 515 P 36146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Credltors: Amounts falllng due after more than one year Group 2024 Group 2023 Company 2024 Company 2023 Other loans Nel obligations under finance lease and hire purchase contracts 1,270,608 1,336,812 1.270,608 1,336,812 37,028 47,199 37.028 47,199 1,307,636 1,384,011 1.307,636 1,384.011 Other loans and finance leases are secured against the assets to which they relate. Included within the above are amounts falling due as follows.. Group 2024 Group 2023 Company 2024 Company 2023 BETWEEN ONE AND TWO YEARS Other loans 187.997 200,893 187,997 200.893 BETWEEN TWO AND FIVE YEARS Other loans 116,300 131,458 116,300 131,458 OVER FIVE YEARS Cxher loans 966,311 1,004.461 966,311 1,004,461 19. Deferred tsxatlon GROUP AND COMPANY 2024 At tha beginning of the year other movements 4,884 290 5,174 The deferred tax liabilty is made up as follows., Group 2024 Group 2023 Accelerated capital allowances (5,174) (4,884) (5,174) (4.884) Page 34

VirtualSvJna1u￿ Transaciion Ref. RFVY.FKF2-7Y83 19 Oe¢ 2024 16..41'.44 GMT (UTC +0) 0 515 P 37146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Statement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure UNRESTRICTED FUNDS DESIGNATED FUNDS Gillard Road Nature reserve {GRNR) ' Feed compensation fund Green burial$ 438,507 284,000 76,920 438,507 284,000 142.326 100,930 (3S,524) 799,427 100,930 (35,524) 864,833 UNRESTRICTED FUNDS South Devon Biamass capital fund Unrestricted capital funds Unrestricted revenue funds 70,493 (1,9061 3,075,447 {262,442 {3,403,963) 3,015,399 13,073,727) 68,587 1,759 2,814,764 11,759) 13,464,050) 1258,023) 3,015,399 13.338,075 {580.699) TOTAL UNRESTRICTED FUNDS 541.404 3,116,329 13.373,S991 284,134 Page 35

VirtualSKJnatuie Transaciion Ref. RFVY-FKF2-7Y83 19 Oec 2024 18."41.44 GMT (UTC +0) 0 &15 P 38146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Statement of funds (continued) Balance at 31 March 2024 Balance at 1 April 2023 Transfers Inlout Incom• Expendlture RESTRICTED FUNDS- REVENUE 1. Wall Park offsite mitigation . 2. EMEWS - GRNR associated ecological monitoring 3. Occombe - Habitat Compensation Scheme (grassland) ' 4. Cockington CP - Habitat Compensation Scheme (Cirl bunting) 5. Premier inn 6. EPIC I White Rock. 7. Alfriston Road 8. Yalberton Road 38,182 38,182 33,233 33,233 56.232 56,232 73,308 26,124 33,846 83,612 426,824 73,308 26,124 33,846 83,612 426,824 771,36 771,361 Page 36

virtuals￿nature Transathion Rel. RFVY-FKF2-7Y83 19 Oec 2024 16..41'.44 GMT IVTC 401 D $15 P 39146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY UMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Stalement of funds (contlnued) Balance at 31 March 2024 Balance at I April 2023 Transfers inlout Income Expenditure RESTRICTED FUNDS - CAPITAL Berry Head - On The Edge Occombe Fami Project One Planet One Planet Occombe Re-development Occombe- Fingle Farm Barns Cycle Project HLF Cockington Green Heart Appeal Countryside Slewardship Wall Park Boardwalk RDPE 366,737 (14,052 351,685 238,057 79,468 79,712 35,740 359,344 {194,007 <2,252 {1,993 (993 (8,662) 44.050 77.216 77,719 34,747 350,692 758,525 7,954 83,770 18,750 130,969 {17,678 13,979 (1,904 {3,125 {8,503 740.847 3.975 81.866 15.625 122.466 2,158,026 {257.138 1,900.888 TOTAL RESTRICTED FUNDS 2,929.387 (257,138) 2,672,249 TOTALOF FUNDS 3,470,791 3,116,329 13,630,737) 2.956.383 Many of the Tru$t'$ funds arise from commuted sums received in respect of long term agreements {arrived at through s106 and other mechanisms). for the delivery of ecological mitigation and compensation projects over 5-25 years. Through such agreements, the Twst receives an initial cash amount and assumes obligations to deliver an agreed Scheme of Management over a defined period. The amounts paid to the Trust are detennined through calculation of the expected costs of fulfilling the obligations, appropriately discounted to current values. The tems of the agreements require the Trust to invest the sum received in order to generate sufficient resources to fully fund the obligations as they arise. Page 37

Virtvalswjnaiure Tfansaction Rel. RFVY-FKF2-7Y83 19 Oe¢ 2024 16..41..44 GMT ILtTC +01 0 515 P 40146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Ststement of funds (continued) ststement of funds - prlor year Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure UNRESTRICTED FUNDS DESIGNATEO FUNDS Gillard Road Nature reserve (GRNR) ' Feed compensation fund Green burials 451,530 284,000 76,920 {13,023) 438,507 284.000 76,920 812,450 {13,023) 799,427 UNRESTRICTEO FUNDS Revaluation reser￿8 South Devon Biomass capital fund Unrestricted capital fund$ Unrestrtcted revenue funds 162,386 (162.386) 72,399 {1,906) 3,185,420 (177,988) (3.310.031) 3,334,111 (3,522,414) 70,493 3,075,447 (3,403,963) 68,015 94,371 110,174 3,334,111 (3,702,308) (258,023) TOTAL UNRESTRICTED FUNDS 922,624 3,334,111 (3,715,331) 541,404 Page 38

ViriuolSwJnalU￿ Tian5Xtion Rel. RFVY.FKFZ-7Y83 19 20?4 16.41..44 GMT (UTC +0) D $15 P 41146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Statement of funds (continued) Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure RESTRICTED FUNDS - REVENUE 1. Wall Park offsite mltigation ' 2. EMEWS - GRNR associated ecological monitoring 3. Occombe - Habitat Compensation Scheme (grassland) 4. Cockington CP - Habitat Compensation Scheme {Cirl bunting) 5. Premier inn ' 6. EPIC I White Rock ' 7. Alfriston Road ' 8. Yalberton Road 42,597 (4,415) 38,182 39,244 (6,011) 33,233 61,147 (4,915) 56,232 74,544 26,493 34,312 84,901 432,324 (1,236) (369) (466) (1,289) {5,500) 73,308 26,124 33,846 83,612 426,824 795,562 {24,201) 771,361 Page 39

VirtualSKJnalure Trans8ciion Rel. RFVY.FKF2-7Y83 19 Oec 2024 16..41..44 GMT IUTC +0) 0 515 P 42146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Statement of funds (continued) Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure RESTRICTED FUNDS - CAPITAL Berry Head- On The Edge O¢combe Farm Project One Planet One Planet Occombe Re4evelopment Occombe - Fingle Farm Barns Cycle Project 'HLF Cockington Green Heart Appeal Countryside Stewardship Wall Park Boardwalk RDPE 375,831 {10,094) 365,737 244,896 81,720 81,705 36,733 369,048 {6,839) {2,252) {1,993) (993) (9,704) 238,057 79,468 79,712 35,740 359,344 776,202 13,192 85,674 21,875 139,472 {17,677) (5.238) (1.904) (3.125) (8.503) 758,525 7,954 83.770 18,750 130,969 2,226,348 (68.322) 2,158.026 TOTAL RESTRICTED FUNDS 3,021.910 (92,523) 2,929.387 TOTALOF FUNDS 3,944,534 3.334.111 (3,807,854) 3,470,791 Page 40

VirtualSwJn8lure Transaeiion R81. RFVY-FKF2-7Y83 19 Oec 2024 16..41..44 GMT (UTC +0) D YS P 43146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Summary of funds Summary of funds- current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Tr•n$f•rs inlout Income Expenditure Designated funds General funds Restricted funds Restricted fixed asset funds 799.427 100.930 {35,524) 1258,023) 3.015.399 13.338.075) 771.361 2.158,026 864,833 (580.6991 771,361 1.900.888 (2S7.138) 3,470,791 3,116,329 13,630,737) 2.956,383 Summary of funds- prlor yéar Balance at 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure Designated funds General funds Restricted funds Restricted fixed asset funds 812,450 110,174 795,562 2,226,348 (13,023) (3,702,308) (24.201) (68,322) 799,427 (258,023) 771,361 2,158,026 3,334,111 3,944,534 3,334,111 {3,807,854) 3,470,791 22. Analysls of net assets between funds Analysis of net assets between funds - current period Restricted Restricted fixad asset Unrestrlcted funds funds funds 2024 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due %*ithin one year Creditors due in more than one year Provisions for liabilities and charges 1,900,888 2,883,351 4,784.239 (305,884) 465,477 (980,523) (980,523 {1,307,636) 11.307.636) (5,174) 15.1741 771,361 TOTAL 771,361 1,900,888 284,134 2,956.383 Page 41

Virtualsignalure Tsansa¢tion Rel. RFVY-FKF2-7Y83 19 2024 1E..41..44 GMT (UTC +0) D $15 P r11146 TORBAY COAST & COUNTRYSIDE TRUST IA COMPANY UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Analysls of net assets between funds {CONTINUED) Analysis of net assets between funds - prior period Restricted Restricted fixed asset Unrestricted funds funds funds 2023 2023 2023 Total funds 2023 Tangibl& fixed assets Current assets Creditors due within one year Creditors due in more than one year Provisions for liabilities and charges 2,158,026 3,149,736 5,307,762 (442,493) 328,868 {776,944) (776,944) (1.384,011) (1,384,011) (4,884) (4,884) 771,361 TOTAL 771,361 2,158,026 541.404 3,470,791 23. Penslon ¢ommitm•nts The group operates a defined contribution pension scheme administered by Scottish Widows. During the year the group paid £46,206 (2023: £40,026) into a defined contribution pension scheme and £7,896 (2023: £8056) into a defined benefit pension scheme. Included in creditors is £11,190 (2023.. £10,714) owing to these schemes in respect of employer and employee contributions payable. Torbay Coast & Countryside Trust is also an admitted body in the Devon County pension scheme with 1 member (2023.. 1 }. The scheme is a multiomployer final salary scheme which is currently showing deficit. No information regarding the amount of deficit attributable to the employese of the Trust is available and therefore the financial statements have not been adjusted to reflect any potential liability of the Trust in respect of any deficit of the Pension Scheme. It is the Trust's understanding that any additional cost to be incurred by the Trust as a consequence of any Actuarial valuation to reduce any deficit in respect of its employees may be funded by Torbay Council by amending the service level agreement that is in place with the Council and that, in the event of a claim against the Trust for any part of the deficit, Torbay Council would underwrile this part of the liabilty as part of the "Pass Through" arrangements that the Council operates. Page 42

virtualSKjna￿￿ Trafisaclion Ref. RFVY-FKF2-7Y83 19 Dec 2024 16..41.'44 GMT (UTC +0) 0 515 P 45146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 24. Operatlng lease commltments At 31 March 2024 the Group and the Company had commitments to make future minimum lease payments under non<ancellable operating leases as follows: Group 2024 Group 2023 Company 2024 Company 2023 Not later than 1 year Later than 1 year and not later than 5 years 2,678 3,620 1,708 2.325 3.520 1.708 6.198 1,708 5,845 1.708 Page 43

Virtualswature Tran5aGlion R81. RFVY-FKF2-7Y83 19 Oac 2024 16-.41'.44 GMT (UTC +0) 0 515 P 46146 TORBAY COAST & COUNTRYSIDE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 25. Flnance lease ¢¢mmitments At 31 March 2024 the Group and the Company had commitments to make future minimum lease payments under non<ancellable finance leases as follows.. Group 2024 Group 2022 Company 2024 Company 2023 Within 1 year BetMeen 1 and 2 years Be￿een 2 and S years 9.871 11,147 20.669 11.617 15,383 31,816 9,871 11,147 20,669 11,617 15,383 31,816 TOTAL 2024 41.687 58,816 41,687 58,816 Finance lease liabilites are secured against the assets to which they relate. 26. Related party transactlons The Trust has taken advantage of the exemption under FRS 102 from disclosing transactions and balances bebween the Trust and its subsidiary undertaking. which have been eliminated on consolidation. Payments totalling £NII (2023.. £Nil) have been made to a company owned by a Trustee. These payments were made after the Truslee resigned in the year, and Ihe Trustee resigned as a result of the services they were planning to offer the Trust. Page 44