Rg95stsr*d numr. 01927330 Charfty numb•r. 292897 DEVON COUNTY AGRICULTURAL ASSOCIATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 A23 -AF4TARZE" 2m026 COMPANIES HOUSE
226
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DorAL8vwErAl¢pe Tr. F2E91DDM55M7398214trgJaWA75 DEVON COUNTY AGRICULTURAL ASSOCIATIOII CONTENTS Page R¢fvrenc¢ and adrninislTrli¥e detai of th• ¢omp•ny ils ¥nd •dvis• Trusts•s' r•port Trust•. r•sponslbUltles slalement Ind•p+ndtadIt0l9. ff•port on the fin•Klal stat•m•nts 9-12 Consolldat•d stat•m•nt of financlal actlvltl•s 13 ConsoIHlated balance 5he•i 14 15 Con¥olidatsd stalem¢nt olcash Ilows 16 Note5 to the financial statements 17-34
DtyJJ¥gn ErNeW ID. F2EgIDDS8SSM7W21&934DBFA7$4S9 DEVON COUN AGRICULTURAL ASSOCIATION REFERENCE AND ADMINISTRATIVE DAlL$ OF TIE COMPANY, ITS AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 202S Presidenl President Eleet Deputy Prosid•nt Chaimian ol Counth - A J Gray Vlc• Cknaknn of. S T R Stevens Council Honornry Tmasur•r Sr Hènry Studhdme 8t DL FCA CTA Honorary Show Dlrnctor S T R St•vens Chairnian of Board of AJGray Management Chlèf Executlve Company Scriary Elected Membus HRH Prirtsss Roy J A T Let OBE DL FRAgS Mrs L Moofe N A Rockey M H RdaifKk J Weekes Mrs C L Hea¥en Roberts To¥end FRICS FAAV IAFwnted 2025) Mrs D Custsnce &ker (resi JLme 2025) J A T Leè OBE DL FRAgS {rene June 202SI S T R Stevens S¥ Henry Sludhdrne Bt DL FGI CTA A J Gray- Ch•rrn¥n Ex Offielo Company reglslerod numb•r 01927330 ehaity rèoi$t•r•d number 292897 Reglstered ollke Weslpoint Ctyst St Mary Exeter EX5 1DJ Audllors shop Flemty Audit Limited Chartered Accwntsrts Neham Road Truro TR1 2DP Bankers Natwest Bk Pk 59 High Street Exeter EX4 3DL P*Je 1
Emkpe ID. F2E91DD$8s54m2141wA7s4Sg DEVON COUNTY AGRICULTURAL ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTE141BER 2035 The Board of Tntstees preserts its repcyt togethw the outhled ffinawol statements of the Devon County Agricullural AssoLyalion {the Assouath)n} for the year lo 30th September 2025. %thi¢h ¢ompty with currert stalutory requirements and wsth the r?]UirentS of the Charitable ¢oryan5 goveming do¢ument aThJ the provisions of the Statement of Recommended Prxli¢e (SORPI applble to charities preparing their 8¢counts in a¢¢ordan¢e th the Finanoal Rewting Stsndard appltsbt& in the UK and Republic of Ireland IFRS1021 leffecve 1 January 2019). The Annual rewt serves as both a Trustees, report aThJ directors. reF¢Jrt under company Iw. The Charlty as a Company Llmlted by Guarantee and Its Objects TheAssociat]on, frnded in 1872, i$a charity aro a ¢panY linited ty guarante•. It isgov8rrnd by vIsed Artides of AssO¢iab"1. a¢S)pted on 2nd Fetary 2024, fdlown9 a Govamance Review. The 04.ects of the Ass0oati are (al to promote agric&Ature lin an tts fom)s induth'ng not limrted to animal hu$bantJry. hth'wkur¢, aQuattle. fwe$ty. prodLKtion, sustairHble laThJ managerneni rwal crafts. environmenta conservathjn and al allied industries) for the benefit of the put4ic and in particular {but rt eXduve1YI in the Cwnty of Devon Ib) to advance educa11 and promote research in e4)nnedion with agricutture aThJ allied indLtstries, the nJral economy and rwal lrfe and lo put4ish the resuns of8Lth research for the public beneft and {c) in pursuance ofthe ae pwpose5. to tr1 ar1 promote shrys. exhibitions. onferences and cornpleti ccted with agriculture, the ruRI eronryny and rural lrfe irthding (but not exdusivelyl the De¥M County SW. These obJ"e¢ts are supwted and fostered by the promobon and fund raising of the annual Devon County Show. Benefil is defivered both thrgh the Devon County Show and many of the adivili¢$ at the Westpcdnt Centre. Westp1 Centre (Devon) Limited. a th>lly owned subsiithary. manages the Westw'nt EKhitJit¥)n Centre. vthich. wlsde the Ccwjnty Show tine, is used for educational 8nd chanlat4e events as wel as Corts. eyfvbrtns arKI trade tsirs. The profits of Westpoint ar• ¢ovnanled to th• Assoo"alK)n to ¢ontrilxrte towards ts ¢troritsble acvities. In settin9 Objectives and plannin9 for athvithes. the Trustees have given due cortsideration to general guidance published by the Charity Comnw$slc rnlab.ng lo Publ berfL Flnanclal Resulls The audited finaal statements the As50cith" n irKILKlry its 5ubdiary. 141Ès>nt Centre {Devonl Limited, for the year ended 31llh Septemt)er 2025 report consdJated ¢umover of 2.979,185 12024.. £2.887,357). thè Assouation sho14ed a sUrpS of £295.404 12024.. £160,536). In the Consdidated Statement of Financial Ath"vibes on pa9e 12. ihe swplLts for the year is sh(Mn as the Nel Movement in Funds. The SLYphJs rKreased Ihe Totsl Cled FOrwd at 301h septThber 202S. to £4.010.644 vl¢w ol Bu$lness The year lo the September 2025 was a slssIU1 one 5th"n9 in • surptus of £29S.404 12024: £160.5361. As a fundraising event, the County Show has UFJated its VAT pclicy, in line vnth other Agrittjllural Sh¢>•YS, which hold MIl¥ events to raise fiJnds lor(antat¢ wses. This exempts from VAT several show-related revenue streams including ticket sales. sporshIp, enty fees and membership. The A5SOtaalion has also Started proceedings to redam VAT payments made on County sh income dating bar to 2021. The changes reflect a Hh Courtjudgementthis year in favour ofthe Great Yothshire Sh)w, where it was ruled that these irKorne streams are exempl from VAT when they ffleel certain ¢teria. The 2025 County SITh eryoyed fine aher over Itwe? of the Shrm. This hdped attrad record attend•Kes aTrJ imwo¥e maryins. Tr7Etweather c0ntmgIeS were not needed. theral Show irKome Page 2
Lhwvjn ID.- F2E91DDMSSung8214>lACeFA754S9 DEVON COUMfY AGRICULTURAL ASSOCIATIOII TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2425 lrtreaged10£1.466.78612024'. £1.226.45n. l>ed bythe updated VAT pcAw. Trade standswtra tendered contrad incoffle were from 2024 al £529.835 {2024: £494.8491 WKI $UFPOrt frcm our valued sponsors remained slrorYJ. Despite revenues droppirrfJ to £1.116,3412024 £1.278.285) as fewer large entS were held in the arena than in 2023r24 Westwint had atr wofilable year. Regular bookirws remaIrd consistenfiy stroTrJ throughout the year. The OFening of the n-renOvat9I fvin91 tte has enalAed the business to ¢om¥ bookings aThl p)sthis us VRII for fiJiur• The amual Farmwise event, wekomirrfj Devcffl'5 sth0ol1)ren, hebj in ¢c4laboratJn wth the County Coun¢il, was as usual a PQPLdar venL wthile Awifest and thè RO$ COnferer were well attended reachiThJ out lo deliver our Charitable ObieclNes of womoting agrAe. The ovetsad eosls of runnry Ihe AssocialIc of £924.540 fft knwer ihan i12024(£1,0,76O), large due lo ¢h¥nges in the staffing stru¢lMre and reduced ¢(>sts in relats" to repair work on sle. HeVer. Ihe irKre&sed depre¢iation of É220.596 {2024.' £203.185) is a relleclion of ¢aptsl inveStr)nI duriNJ Ihe year of £254,795. The Asso¢i•Jn's rental irrne was £189.700 12024." £194,013) ith several lorKJ-temi ¢ontrs being finised thi$ year. The Cash bar. net of bGYruhings. dlhe As))8 the 30th of SepteNthr was £1,214.961. Continued LN)rtaInlY in the aJriCLdtwa economy uThknlines the iMFUl of the Assoaation. Vthh remains in a 5trorvJ positicffj lo invest in the fuiure. This is no Small Ihanks to Ir erthusiastic and kn¢Iedge8b1e staff throughout the organisation and their Continng hard wtyk. The Board continS to ree the reseNes of the A550¢iation. Total ¢onsolTrdated reserves al 30th Septernber 2025 amounted to £4.010.644 {2024: £3.715.240) of vthi¢h £25,494 {2024". £23,112} are reslrided to speufi¢ ath"vilies. £3.039.633 ofthe reserves are represented by the Group's investment in the freehold showground and other fixed assets12024.' £3.005.433). The k)ng-terrn obj&b"ve crfthe Board and the CouncAI has been to erule that Ihere are suffKient liquTrd reserves lo prote¢t the Association frc insdvency risk in the event of a sigr4fK ktss. from cae18t10n OT disruptK)n ofthe Devon Cfity Show. Prudent reserves are retained agavist thi's eventuafty. A going Cr ¢aW"on Ls perfomed annualty. Cuwent proje¢b"ons Ymlicale that liquid re5erye5 suffiogrrt to m1 the ¢onsequen¢tr$ of a ¢Olled show or tampcw dosLre Olpor The Board believes Ihat the annua c Strth¥ and the tradin9 Xtmtss of the We$nI Centre V•ill ¢ontinu8 to be viaFAo in the futW8. Risk Mangement The Board of Trustees. 5UFwtsd by ts Alt "Sk Comrnitiee. ¢onlirnAIty assesses the bu$ines$ risks durin9 the n()rmal budgew pro¢ess. ARisk Registw i* mantained. risk management is a regular agenda item al meetirvJs ol the Board. risks are Ldenlified. and rt is pra¢ti¢al to do so systems and ntrols are wJt in place to fflrtate trm. Page 3
DrttNgn En¥lD.. F2e91DDM55M73M21WDBFA751S9 DEVON COUNTY AGRICULTURAL ASSOCIATION TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 The principa risks iThJud9.' the stabilty olthe dgetary and finar£AI COntrc system. ensuring the ad&qlcl of FleS artra wo¢ethres to went fraud. protecting the integrty ofthe phYal assets of the Associabon. risks ofcyber-arfack and system failure." and maintaining a supwtive and hehY working env¥(ment kn staff and volunteers. The AsKK?atiM mantains third poty li8ts.lty rnurarKe cover to protect Assooati¢)n from da1 f¢Y loss orcompensation f1rg injury ordamage. The Board also regLdadycOnderS vdunleersuccesSn and prOgSsi(. and the need to tAan f¢1 the next getwatw. The Audt and fv'sk C¢)mttee regarty rlew5 the Risk Register. Audilors At the fortlKoming Annual Gerwal Meeb"ng, the Treasurer ¥•il propose that the #udrt is put out lo terLder given the lonstandIng relatnship with BhOp FmIrj ALxIit Ltd. STRUCTURE GOVERNANCE AND MAMAGEldENT The Board of Trnstees The Board of Trustees meets regularty to oversee the affai of the Association setting remuneratlon and perfmance arraThjeMts for key personnd. Membew5 of the Board ofTrustees al 301h September 2025 V•Ere.' Mr M Townsend FRICS FAAV H Rètallick S T R Stever Sir Henry StudhcAme Bl DL FCA CTA A J Gray (Chawmanl M J Weeke5 C L Heaven•Roberts The Councll Tho role of the COU11 ts to vir and mMitw the ASS¥(10n.S stregie$ and tJefv&ry plans to ensure they are consistert WTih the otr4.t. and that rnai risks lo the lowterm reputation of the Associth'on are being addressed by the TnJstees. CoLxlI monitors the perlomiance of the Trustees. hdding them to acctyjnt in the contrd and management of the •Jministralion of the Asscaation. Counal athise5 aThJ assists the Twstees by prov#Jing a fwm for debate on strategK matters relating to the Asso¢iation. Su¢h Strateg mattws midje.. lal any matter that w0d resdl in a moJ¢rf chge to the Strtre [IrKI[lAY dissolution of standing commrtleesl. the chrtable obiecls (K general strategic poliaes of Association: Ibl the development ofamua bltne$S E4ancath1 $pendirg plans.. Icl the dovelopmeni of lorrfJer-teThn strategies for the Assouatwjn: Idl requests for inwt on strategic or OKY is$ frcffn the Trusiees", and (91 other matters of stratwc pc4i¢y ¢on¢em that wise as detwmined by the c¢XAI.
D11 Enky ID. F2E91DDSBSSU73U214914DeFA75459 DEVON COUNTY AGRICULTURAL A&WCIATION TRUSTEES, REPORT ICONn14UEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Thè Trustee5 prcoJre that the shall be wovided thith: {a) r•gul¥ repyts on the ISinesS of the AS%)uatn,. Ib) regular opportunities to ask westicns of ts Tru51ees at Council meetir¥Js'. Icl annual reports and ac¢ounts and the OPFthuThty to discuss contents ar¥J ask questions., and Id) regular feptsrts on the mw risks to the Assoriabon Njentsfied by the Trustees tThY these are eing athJres5ed. Councll Membe The Counul Members of the AS48 the year ended 30th September 2025 as folbws". Those due to relire by rotat)n. all of v4tKffl, are el1ble for reeon are marked with '. Tr due to retye and are curr8nUy indigbi le for reolethon are marked wth." President President Ele¢t Dewty President Elect Cha'rnian of Council Vice Chaimian of Courril Chwmian of Board of Managem8rt HOrrary Show Dire¢tLY HorKJTary Treasurer HRH Tr InCesS Royal Mr jc Lee OBE DL FRAgS R Elli5 AJGray STRStevw AJGray S T R Stevens &r Hwry StLKlholme Bt DL FCA CTA Other eleLed Counal Memberswth volYwJ Fvers: J P Afford L Banfield Mrs R Bennett G H Bush CB DL- B Butterfield Mrs H knndsay-Fynn DL- Lirthy-Fynn MA Oxon Mrs F S MaLndert JWMay- B MoNe"' Chief Stewwd C C Moryan P Morris Smu 8 M¢Jtr"mer R M North¢ P Orten&Pawson D E pISh Mr M CalS MBE DL Mrs C Camptell Lamerton. Ly Cave DL G T M Cheriton RW8Coley J R Cummings D Cust 8ak" Cfmef SteKd E A D¥rke- H G Dart (also rep. North oOn Agriaknral Asscrfiabonl" MrsMEDa B t)rake (DeGeased M8y2025) M DymorKI" R E &lis" Chief Steward The Hon che$ Fane Trefvsis DL MTS J M FIIM P F J Force- Miss C French I Parish N Q G Pansh. D Pwriment Mrs J Persey Mrs G T Philips DL. Mrs C PILme3d. R Rayn PRe M H RetallKf Page 5
D¢pXh Tr. F2E91o0>8554473m21¢oFA754S9 DEVOK COUNTY AGRICULTURAL ASSOCIATION TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 E D Fursdon. HM The of Devon" D Grist Mrs V F GurKIry rs S Hammett T L Hammett J ShLXt Mrs C Stevens Mrs M Swires Brigadier R S Taityour Sqn Ldr L Tanne P Hatton. MTS C L HeavefvRoterts Brigadier S P Hde J A T H¢)dge M W Huxtable WD Jenkin IAfs J n9On- P J lfjngdon Mrs EA 9. T K Larcombe GHTuly A Uglow WA Ugl¢yw F J Vem8r M J Weekes Dwlliams J IAfjliams Cwse P Wgang Nominated Courril Members ¥•IlhO votiThJ pcwe Bion Cdlegè & DLKhy Colege CLA Oevon Brarb¢h Mr D Evans Mf J ddIng Deven County Counril Devon Federaticn of Young Farmers, Cl East Devon Disth"cl Council Mro Gnst alr P Arn¢i Exeter Cty Counul Holsworthy a Straltcffl Agthra1 Mrs R Ireknd Honit¢o & Distrid Ag(ilIra Assoai¢)n lfjngsbridge Agricultural Assoriab Mid Devon Town & Cwnty Show Society Ltd Mi55 S VbI15 Mr C NatK>n National F8rnets' UNon Mr R Tud¢er Ncth Oevon Agrh)Jttura Association Okehampkn & Dislrict Agriculural Assorim Kthss A HeY0d Torbay c MrHGDart Totnes & DistrKt Sho Soc Mrs L Hamy alr K Hwe Wesl Devlx Oislrict CourKil Woolsery & tAstrict *4ricral Show A Carter Yealmpton Agri12Atural Assooali¢ Mr P Davis
DEVON COLINTY AGRICULTURAL ASSOCIATION TRLISTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2026 Presldents of th8 Assoclallon 2025 and 2026 HRH The PrirKess Royal served as Presidert fty 2025 m•Je a guest •peorartt at tre 2025 County Show. Presldent Elect Mr John Lee OBE DL has been F0[d as Pre$kI tr 2ff26. Mr Lee has made svJnifi¢¥rt ctrIbutY lo the aThl the agrIttUral industy, thjring an ilustrK)u5 farmiThJ career. He has held numer¢)u$ rp)srfions %Mthin ts sector, induding Chmian of the YFC. President of the MKI Devon Shry4V and. untsl this ye. Chairrn of the Bod of Managément of the Devon County Agricuhural Associatron. Volunts• and Staff The Devon County Show relies on the hard work ol my deth"coted vc4urrteers. 13 Chief Steward¥. 21 Senior Stewards and more than 350 Stewards and ¢ommrttee members. all of •thom ¢ontinue to give generoLL8ly thoLtsands of hours of vC4tary wcrfk. To this be added the wryk of the professional le in the Association offi¢e. led by knsa Moore, Chief Executive and Show Manager. The Board of Trustees alsts recognises the imptytre of the stpolnl team as rt makes a s1gnrfant contribution lo the Assorialion's finances. To the Assw"ab"¢)n $tsff and to al the Voluntary Steards and committee members. Col1 arKI the Board of Ttee5 extend very thanks. DISCLOSURE OF INFOR141ATIOM TO AUOITOR Ea¢h of the pe are on the Board of Twstees at the time when thi5 reF 15 approved have confimied that.. $0 far as the Board of TNstees are awar8. thore is Tr) relevant audit infDmiatiM of wtKh the group's authys are unaware. and thatthe Board ofTNstees haVetsk all the StepSthottQ have been taken as Board ofTrustees in order lo te aware of any infomiab.on needed by th8 group's auditors in connection preparing Iheir reF¥NL and to establish Ihal the group's audrtws we ware ofthat inform•b"on. Thi$ rep)rt VAS apyov¢d ty the Bo¥d of Tntstees on 22 Nrnber 2025 arml signed on their beha by.. ray Chairman of the Boartl of Managemenl and Chairman of Councll rlfTudholm• BT DL FCA CTA enry Honorary Tfèasur•r Page 7
t>>wrbEn¥eW ID.. FE91DDs8554473Y821WIBFA7s¢5y DEVON COUNTh AGRICULTURAL ASSOCIATM)N STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 30 SEPTEMBER 2025 The Tru$tee$ {who are als0 the dIrerA$ of the company fL¥ the WrseS ofcompany la4YI ¥e responsib for preparing the TNstees' iepM aThJ Ihe financial statemenis in accordarte vnth applicable Law arby United n9Jorn Ac£oimtry Standards Iunrfed lQngdom GTalty AeLpied Accountitvj Pfaclti). Company law féquirns thtr Trnstees to pw ffinartial stateme1$ ts ea¢ fwwcl yEar. UThJer ()mp#ny lw, the Trustees musl not approve the finanaal ststements unless Ihey art sab"sfiad that they gi¥e a true and fair vi¢w ¢fthe slat8 of affairs of the Group Ihe company and ofthew incoming resowces and apF4ication of resources, indu(Jing their 1cne eXpeThIiu. for that Fwiryj. kn prepwing these finan¢ial $tements. the Trustees ¥re required t¢= selo¢t suitable 8¢¢£wntrw pok*s #nd then appTtheM eonsistenty. observe the rne111$ and n(pIeS of the Charihes SORP {FRS 102).. make judgments and &counling eslimales thal we rea5wat4e aThJ prLthnl", stste whelher appluble UK Acc(MJnting Stsndards {FRS 1021 have been folowed. subiecl lo any mal¢rial departLwes disdosed and eXained in ihe financaal slaternents.. prepare the ffinaneial statements on Ihe 99 c(Jneem basis lesS irwopriate to presume Ihat Ihe Group will ¢ontiw¢ in tw$in¢s$. Th8 Tntstees are responsiblè for keepwbJ adequate accwntir¥J reclwds that are sufficient to slthy and èxplain the Group and the Dynpanls IransactiS aThJ disclose 1th reasonabl2 actsjraty at any time the financial pOS"0n ofthe Group and the company and enatle them to ensure that the finanoal staternents comply with the Cwnpanies Act 2¢. TY are also respjnsible for safÈguarding the assèts of thè Group and the ccrfnpany and hence fortakirtg reasonat4e steps for the prevention and detecb.on of fraud and other ifTe9ularities. Appr¢)¥ed by order of the members oftht b)ard of Trustees and signed on ts behaw by. Choir of TrustèÈs Homrary Treaswer Dats.. 12ffj12026
C•cvan ID.. FS91DD>85Y473W1¥WIJ8FA75159 DEVQM COUNTY AGRICULTURAL ASSOCIATION INDEPENDENT AUOtroRS' REPORT TO THE MEMBERS OF DEVON coup¥rY AGRICULTURAL ASSOCIATION OPINION We have the fin¢l ststemonts of Dèw CAgriCI ASsocAatiC lthe'parenl (arilable ¢ompanl} and rts subspJiars Ilhe,grpj fof th8 year ended 30 September 2025 whith comprise the Consolidated ststement of financial actiwtss. the ConsrJKJaled 5taternent posib"on, the Compofty Statement of ffi#rKaal sitIOn, Ihè Ctsnsodated statement of ¢xsh l]cth and notes to Ihe finaTrLyal statements. induding significant accounts.ng p0CleS. The finar181 reporbng framework that ha5 been applied in their Preparatic is applutAe kqw and United lfjngdorn Acrxlunkng Stsndards. Iuding Financial Reports'ng Siar¥Jard 102'The Fin¥ri Reporting Stsndwd in1he UK and ol Ireland, {United lfj'ngdom Generally Acc8Pted Accounliry PractKe>. In OUT opinK)n the ffinarKi?1 slatem. gi a true and fair biew of Ihe stsie of oflhè pwant charitstAè companWs affaws as at 30 Seplemter 2025 and ol the Grwp's in(YxnwwJ resour$ #nd •ppWtion d rest)ur. induding ts Incom anil expendrture for the year then entsd.. have been propefy Pfepared accordanc wlh United W Generaly Ac£eMed Accounting Pwti¢e". and have been pTepargJ in a0rd#r 1h the raqLMrww$ oftr Acl 20C6. BASIS FOR OPINION We conducted our audit in accordm with Inlematwal Standards on ALKlrtirrfJ IUK) IIS4s IUIQI and apph'cable law. Our responsibilitiès urwjef thosè staThJards are lurlher described in the Au¢kn' respon5ibiliti.es for the audit ol the financial ststements Secti ol our report. We are independent ofthe Group and parènt chrtable ethipany in aee¢danee 7Mth the elhical wuirements that are relevant to ow audit ofthe finanrial slaternents in the United Kingdom. indudiThJ the Finawal Reporlwi9 Courrifs Ethic Sdard, and we have fulfilled our other ethi1 resp0nsl?i"¢S accet wlh thestr requirements. We belve that the audit evKlence we have obtained is sUffint and approprwte to prOJe a basis fty ouf cyinty. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements. w¢ havè cfjnthdÈd thai thè TNste•s' usè of the gowvJ concem basis of accounting the preparatitin of Ihe finanoal statements is approwaie. Based on Ihe work we have pthmed. we hwe not wJenlrThed #rty matwol vn¢•tsints relalwg lo ¢v¢nts conditions that. 1ndM¢ty Of ¢dleciw, may cast sKJnrftsrrt tknubt on the Group's or the parent tharitable companls ability to contin¢Je as a gn9 corrn a of al leasl mlh$ Irom vknen the financial ststements are auth0ri5ed for issue. Ow respcsItI"kn"•S and lh• respon&bdrt*s oflhe Tmstees with respectto goirvj concern are described in the relevant secions of trws reporL P•ye 9
14nEw81op01o-. F2E9100>B554473M214-gYDBFA75 DEVON COUNTY AGRICVLTUIiAL ASSOCIATION INDEPENDENT AuDoRs. REPORT TO THE MEPABERS OF DEVON COUIITY AGRICULTURAL ASSOCIATION ICONnKuEOI OTHER INFORMATION The other information crynpri5es the infornabon indude(l in the Twstee5' Report arld Finanryal Statements other than the fmanoal statements and Ouf Atsdiiors. report thereon. The Tnjstees are responsibk for the other information in the Truslees, ReF#Yt and Financial Slalements. (r r44nion on the financial stemertts does nc4 cover the other InfoatIOn arKI, except to the extent othemse ewody stated In w report, we do not exp$$ any form of as$urance nCls)n Ihereon. Our responsibilty 15 to the other information and. in doin9 $9. ¢sIder vthethèr the other irrformation 15 materiaty incon515tent vrtth Ihe financi statements or our knowledgè obtained in the WJTse ofthe autht. or (thr¥•ise appears to be materiaty mlsstated. Ifwe identity such rnaterial in¢>51$18cles ry apparent fflaterial mi55lalernents. we are rgquired to dglwrnin? vthether th"5 gives rise to a material mivatalement in ts finan(3al stalements themsehes. 11. based on the wk we have performed. we rKlud¢ th?1 the 1$ a mth"a mi5slatemenl of this dher l(OI)n, we we requir to report thal fact. We have Th)tfvng lo reFrfYt in this regar OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 The informatKJn given n ihe Ts. annu pOrt. ch indudes the strategic report and the dtreLtors' repjrt prepared for the purposes ofcompany law. for the fnanaal year for which the finanual ststernent5 arè preparèd is consistent wrth the financia statements,. and Ihe strategK report and the directors. report inclJ¢led within the Trustees. annual repjrt have been prepared irb a4n ¥ith legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our kntred9e aThl understarKling of charitabk company and its enronMent obtained in th8 ourse of Ih? audit. we ha not idenliffied maleriJ misstalement5 in the TILtee$, report. We have noth.ng to rewl resped ofthè mattefs in relatK)n to •thi( CLMnwies Ara 20C6 requires U5 to repjrt to rf, in our OFinion'. •Jequale accountry recgxds h•p not teen kept by the parent thantslle Qpany.9r r¢tum$ a¢Jequg1¢ lor our atdit have been reNed fr¢¥n branches not ¥iwted by us." or the parent ¢haritable wnpany finanual Slatements are not in agreemenl with the acccwntYvJ rewrds and relums., or cetsin disck)swes ofTntste•s' reMWla.0n speoW by la are not maje: or we have not rec8Ned all the informth.on awwj explanalion5 we require fLY our aLKIrt." the Trustees were not ¢ntrtkd to prepare the finala1 ststements in accordance wth t1 srnatl ¢ompani¢$ re9ime and take advanlage ofthe small Compan5. exempi)ns in preparing the Twslees. repJrt arKI frcrfn ihe requiremertto wepare a Stratsgic retrt RESPONSIBILITIES OF THE TRUSTEES As exF4ained more fulty in the Tfttee¥ respOn&tts$ statement. the Trustees (fv) are a150 the direor6 oflhe tharitable company for Ihe purFQSes ol c¢mY Wl are reSponse lor the weparation of Ihe finanual statements and for brj satisfied that they a tru• artd law and for SLKh intemal eontrol as Ihe Trustees deterrnine 15 necessary to enatAe the preparat*)n of fa>al statements thal are free fr¢)m material misstatement. ther due to fr•Jd or e01. In preparin9 the finaroal statements. the Truslees are respOnb for assesgroJ Ihe Group's and the parent itabk rc¥Mpanls abilty to conlirrfR as a goit¥J corKern. disdog'ng. as app.ble, matter5 related to goin9 concem and using the going concem basls ofacctyJThts"ng unlèss the Trustees eilher intend to14uidate the Group OT the parent chartsble company to cease opeTalions. or have reali8tK attemative but lo th) 50. Pa3e 10
DEVON COUNTI AGRICULTURAL ASSOCIATION INDEPENDENT AU0oRs. REPORT TO THE IAEMBERS OF OEVON COUNTY AGRICULTURAL ASSOCIATION (CONTINUED) AUDITORS. RESPONSIBILMES FOR THE AUDIT OF THE FIIIANCIAL STATEhlENTS Our ¢)blerti¥ are to obtain reasLnable assurance 3brtwether Ihe statements as a vthole are free from materid miss&ilement, wthether due to fraud or error. to issue an Audrt¢xs' rèptsrt Ihèt irtludes our opinion. Reasonable assurance 15 a hwh levd ol assurancè, tArt is not a guarantee that an audit conducted in accwdanrk th ISAS (UK) will aTrways (ktect a mateiial mK8ststement when r( exists. Misstslemenls wise from fraud or eryor and are Consthred matla1 rf. IndldUal or in the aggrtgalt, thèy ctsd rèasonably be expecled to infiuerKe the ¢Je(XSKJns ol usets tsken on 1h& basis of these finarKial statemerts. Irregularities. inebjding fraud. are instances ol n0rFcomplk8re with IM and regukqlions. We design pro¢edures in line with our reSpolbile5. outlned abfft. io déte¢t malen.al misstatements th respect of YreguLarities, including IrJd. Thè èxtènt to which r procedures are capat4e of detectiThJ irwularilies, including fr•LK1 ts detaited below.. In idenlify•w and assessing risks ol maleriat rnisstalement in respect of wregulitits, incknJin9 fraud and non- comrKe wrth laws and wUlab"e$, we eonsthred Ihe f¢)knThJ: the nature oflhe seclor. ci)ntrol envvonment wvj the Gffjup and Parenl CnnIs perfvrmarts: resutts of our enquiries of management and the CwTh)I mwnbers. ¥brt Ihw identifiration assessrnenl of Ihe risks of irregdarils". arry matters we eThtffied hawng ¢Jbtained arwj te&ed thè GriA4) and Parent Compan$ documenlation ol their polKges and procedure$ rel"ng to.. Klentthng, ¢vahJatiThJ and eomth'ng vrith laws and regulations and whether theywere aware of any inslances of non-MMare. dding and rwonding to the risks of fiaud and whether they have kntyledge of wy arAual. SUSFwled w alleged fraud: intÈmal eontre4s •slablish•d lo mrtigale rbsks of fraud or non-compliance with laws and regulation5'. and the matters discussed anong the audrt engagement leam regarding how arKI vrtwe fraud rnight 0¢r in the finarKial stslements any Fdential irwjutors of fraMI. As a resuK of these pfowlures. we have lthred Iha ¢)prthunrfi&s and incentsvos that may exist within th& organisati¢Y5 for fraud and thntrfd the h¥Jhesl area of risk to be in rela to revenue recogniti, with a parts')Jaf risk in rdation lo ar-eI rt-Off. In Ixjmmon VTth 1 audrts IS4s {UK). we are also requwed to perfom spa¢ific procedures to respid to the risk of manwent rrIde. We idÈntified and obtawied an understandiro of laws and regulations thal a of synifKance to the Group and lo the Parent CoMpY by thscussvjns 7Mth Council members and by updating our Ule[standIng of the se¢lor in ttr¥ch the Group and the Pa1 Company opwatsd #). Laws and regtslations Ihat a of direta gnlficance to the Group, and ofwfiich r¥-Complian¢e I)xd resum n material mStateMeN. are ¢onsidered to be the UK Companies Art FRS 11rd aThJ (Ktsx kn9tslaiw. In addition. we conshlered wiOn$ of other kn and re9ulatb)ns that do havè a direct effect on the fThnrAal statements but crynplK8n¢e rylh whid) may ba fundamental to the Group's abHity lo operate or to avoid a material penalty. These inchJdef1 data prote¢b'on. he & safety. emOoyment legL8W9n and hygitnè. Our wocedures to respond to risks LdentsfEd irKJwJed the fdlwng." reviewro the finan0 ststement discbsure5 aThJ testing to dwmentstion to assèss ccynpliance with proS1onS of reknrt14ts regulats. desuibed as han9 a thred eftect on the fmawKial stslements., reviewing the fmana statement discb5ures and lestvy lo suppcrftry to assess the recognithin of revenue". ènquiring of cou1 m¢mbws and mana9ement Concernw tUal aThJ polential hkngal)n and dains,. performing pldureS to cryffirm material complK4fi¢e Tmth thè reqreMents of atove regLlations,' perfomiiny analw pr¢tsdures lo Njenlbfy any )uSUal or unexpected relationslips that rnay ndicate risks of material misstalement due to fraud.. read)g rnirt¥Jiès of t"fecior meetings", arNJ in addressing the wisk oyfraud throuth management tyride of c(, testirrfj the approprialeness ol journal entries and other adjustrnents.. and assessirvj wheth¥ th• jtymtnts madè li makibVJ aecountmg esth"male$ ore of a p)tenb"al bias. Page 11
DEVON COUNTY AGRICULTURAL A5SQCIATIOM INDEPENDENT AU0oRs. REPORT TO THE MEMBERS OF OEVOII COUIITh AGRICULTURAL ASSOCIATKIN (CONTINUED} We also [MMed relevant Jenbfied Laws and regulatwts and potent1 tra1 risks lo all eny8gement team members remwned alert lo any ¥Klicalion5 of fraud w r¥yrAance vith la$ and regulatksns thrOUgt thè audrt. Becwse of the inherent knitatrons of an audit. Ihere a risk thatwe not detect all Irregarè$. )Cluding thos• leading to a matèrial misststem•nt the finanual statements or non-cOrnlanCe with regulation. Thi5 risk inueases the more that comF4kince ilh a law OT wuL8tion 15 remo1 from the events and transactions rdeded in the financK71 statements. as we wl be less liketylo beccxne aware of instances of nonrfompliance. The risk is also greater regarthng irUlare$ IwJThg thje to tra1 rather than errty. ¥$ fr•LNI irNofve$ intentiortral toncealmÈnt. lorgery. ccIon. omissK)n or rntsfepresental. A further de$p11)n of our respOnslIe$ for audil of the financaal slalements 1$ lo¢ated on thè Financkal Reporting Cwncifs websitt at. www.frc.o .uklauthtor5re5 n&lxlth"es. This description forms part ol our USE OF OUR REPORT This report is math solely to the dllIade c4)mpanrfs rnembw5. as a tK. rdan with Chapler 3 of Port 16 of th¢ Companie5 Ad 2¢J06, and to the drtab o)mpanYs trustees, as a body. Part 4 ofthe CharilS {Accwnts and Reports) ReguLab"ons 2CQ8. 1)Jr avdit has been undertaken so thal we mwhl $tate to thè ¢hawitablè ecthpanls mérnr$ ihosè mattets ale required to slate to them in an Auditcws, port and for no other purpose. To the fullest extent permrtted by w, t do not accpt or assume responsits'kty to arry• othèr than the dpwitaNe rx>mpany and its m¢mb¥s. as a L>, f( w tToI, fc¥ this report, the Opinn5 we have formed. Alson Oliver FCA CTA (Senior statutgry awlitor) for and on behall of Blshop Flemln9 Audlt Urrft¢d Chartered Acxountants S¢attJtory Auditors Chy Nyverow Newham Rood Truro Cornwall TR12DP Date.. 1716r2026 P*Je 12
DEVON COUNTY AGRICULTURAL ASSOCIATIOM COMSOUDATED STATEMENT OF FINANCIAL ACTlVtllES UMCORPORATING INCOME AND EXPENDITURE ACCOUNfJ FOR THE YEAR ENDED30SEPTEMBER 202S Restricted Unrestrictsd funds funds 2025 X125 Total funds 202$ Total funds 2024 No Incom• from: Dcmtions and legaues Charitable actiMt*s Other tradwjg a¢b"Mli&s Inveslments 13.OlXI 13.000 1.624.474 1.116.344 225.367 17.7SO 1,386,795 1278.28S 224,527 1.624A74 1.116.344 225.367 Totsl ine4>mÈ 13.0150 1966.185 2.979,185 2,887.357 Expenditure on: Raising funds Charitsble a¢bMtEs in¢Wng Cwnty Show 304.SSI 304.661 341,1S2 10.618 1368.602 2.379,220 2,385.e69 Totsl •xp•ndliur• 10.618 1673.163 2.683.781 2,726,821 N•t movement In funds 1382 293.022 29S.404 160.536 Reconcillatlon of funds: Totsl funt1s brought foThvard Net movement in funds 23.112 382 3.692.128 293.022 3.715.240 295.404 3,S54,704 1fA),538 Total funds Carri lorwanl 2S.494 3.98S.1SO 4.010.644 3,715.240 Tho Consolhlaled Ststem¢nt of Actr41 indleS all gains and losses recognised in thè yaar. note5 on wes 17 to 34 form part ofthese slatèm8rts. Pag¢ 13
EnveknFe ID". FE9100USSU7W21493WA75459 OEVON COUNTY AGRICULTURAL ASSOCiAmN REGISTERED NUMBER:01927330 CONSOLIDATED STATEMENT OF FINANCIAL posmoN AS AT 30 SEPTEMBER 2025 202S 2024 Not• Flxed assets Tanble assets 10 3.039.633 3.IX)5.433 3.039.633 3,5,433 Curr•nt assèts Debtijrs Cash at bank and in hand 11 194905 1.331.628 259,914 995.1 1.526.533 1.255,104 Currwt li•bilities Creditors.. amounts faifmg due 1h1n (ne 12 1538A55) 1428.630) 14•t¢urr•ntass•ts 987.678 826,474 Total assets I curr¢nt IOabAltles 4.027.311 3.831,7 Creditors.. amounts fallng due after more thon on? Trar 13 116,66n 1116.86n Total net assets 010.644 3,715,240 Charlty (unds Restted lunds Unrestrictsd funds 14 14 25A94 3.985.150 23.112 3,692.128 Total funds 4.010.644 3,715,240 The Trvstees a¢kredge their reSpLsibIlit5 for rAp'Tr9 with Il reqlMremts of the IAtMth respect to actnting i•cords and preparal)n offinancu41 statements. The fIne&ll stalements tvn wepared in ac0)rdae ith the tfftisics ap[lble to eThtrt subject to ihe small companies rwe. The financ[ staternents were apprOd and aUthl$ed for issue by the Trustees and *9n¢d w Iheir behalf by. 71¥&kn B¢ DL FCA CTA Chairynan of the Board of Tntee5 and chaimian of CounL71 Date.. 121t2028 The notes on pagts 17 kn 34 form part ofthe5e 5tatern. Pa9e 14
DEVON COUNTY AGRICULTURAL A&8OCIATIOM REGISTERED NUMBER:01927330 COMPANY STATEMENT OF FINANCIAL posmoN FOR THE YEAR ENDED 30 SEPTEMBER 2025 2025 2024 Fixtd assèts Tangible assets Instme1 10 3.039.633 3.005.433 3.039,635 3.005.435 Debtors Cash at bank and in haThl 11 163.344 1 J31.628 153,924 995,190 1A94,972 1,149,114 CurY•nt Ilabllllles CfedilOlS.' amounts fall)g due ith¥i one ar 12 1849.718 (810.4411 Net current ass•ts 645.254 338.673 Total assets less current liabltse 3.684.889 3.344,108 Creditors.. arnOts falkng thje after mcffe than ore year 13 116.667) {116.66n Totsl n•ta#ts 3.668.222 3,227,441 Charfty funds Restricted funts Unresin'rAed fvrkls 14 25,494 3.fAI728 23,112 3.204,329 14 Tolal fvnd¥ 3.668.222 3.227.441 The CpaS net mTrnl Ni fuThts for the year¥Ms £440.78112024. £1.}. The Trustees acknry4Ae(Ige their resp1$11s frr compkn'ng tAtyth the requirements ofthe A¢t wrfh r¢sFe¢t to a¢¢ounting ree(ds and prep¥ath)n of rManC ststements. The finan¢i?15tstements have ien wÈpared aCCoance wilh Ihe pro4ry5ic5 •pk4i¢abk to entth.ès subj'èct tr small eomparries regime. finan¢io1 $tslem•nt$ w8r• appro4d aortsed for i8sue bythe Twstaès and shjned on th*"r bohair ty. Bt OL FCA CTA Chairman of the Board of Tru51ees d Chairrnan of Ctxmca Hontyary Treas¢Jer Oate.. 1216f2026 The notes cffl pages 17 to 34 of slalements. Page 15
DEVON COUNTY AGRICULTURAL ASSOCIATK)N CONSOUDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2025 2025 2024 C•*h flow# fvom opoTrting athits•s Net cash pmided by operath"NJ li¥S 661A91 291,gJ4 Cash flows from irtvesting activities Purchase oltsngible fved assets Interest ReceNable 1254.7961 34667 {192.1411 30.514 NET CASH PROVIDED BY vESTING AC7MnES 1219.1291 1161,62 Cash flows from financkng adi¥iii•s Repayments of t<wrcw'n9 (105,924) 1400,gM) NET CASH PROVIDED BY FINANCING ACTMTES (105.9241 1400.6041 Chang• In eash and cash •qul¥alents In the year Cash and cash equivalents al the iwinnwry of the JEar 336.438 1270.7271 1.265,917 995.190 Cash and ush •qul¥ahnts atth• •nd ofth• y•ar 1.331.628 995.1 The n95 on ge5 17 to 34 lorrn wt ofthese fina[M statements Page 16
DEVON COUN AGRICULTURAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION OF HIIAIICIAL STATEMENTS Tl financial 5tatemÈnts ha be weped in aCcOrde writh the Chantie5 SORP IFRS 1021- Aeo)unting and Rertry by Charibes.. Stalement ol Rec¥)mmeThJed Pradic appti(xt4e to charitses preparing Ihwr anIS in Jrda Tmth thè FmarKiaf Reportirvj Standard appluble n the UK Republt of Ireland IFRS 1021 leffecli¥e 1 January 2019). the FinanrAal Reptift9 Standard aFWicable in the UK and RebI of Ireland IFRS 1021 and CompaThès Act 2C#J6. Devon Ctyjnty Agr1bJraI As%Kaalirm meets ts defirritson of ¥ bèrfit enb.ty undu FRS 102. A55ets and liabths are initsty r8¢¢gnised at rN"ston"cal cost or transact¢on lesS otheM5e ststetl in the relevant acoJJnting FK)Iy. The Ststemerrt of fThnc3al xtiviis (SOFA) BalawKe slet ctyolid¥ts tho ffftandal statgmgnt$ of the Association s1VY uThJertaknry. The resth of th• subsNthary are cijnsoh'dated on a line by h.nè basis. TIE AS$4abon has taken of th• exernpti alrr•MI under Secti 408 of the Companies Act 2006 and has presented it5 Statement olf1¢1al in these financial statements. 1.2 COMPANY STATUS The Ass¥a0D is a (zrfnpany limiied by guawiett. In Ihè ol Ihe AssLKialion be4ng WOLmd up. resFrt of thè guannta• is &mited to £1 per member ofthe ASsoCk8ti. 1.3 GOING CON¢ERM The CounrA members a55ess Wthelher the use of goThJ C1M is aFpropriale i.e. ether there are any material uncertainlies rdated io eNprrts or ¢CrfKIons that may significant dtyjbt on th& abithty of Ihe Group Par•nt Charrty to con"nUe as a going concern. The Council members mak8 Ihis assessment in respect of a Feriod of at least orE year frryn the dale of authorisation for issue ol the rinan¢ial ststements and ve Wded that the Gityjp and Parent Charty has adewate rescwrces to conb.nue in operab.onal e$tence lor tt foreseeable fuiure and thèrè arè no material uncertainkn.es about the Group aTrd Parent Chariws abitrty to Contr) as a wing concem. thus they ojntinue to ath¥t goiw ccern basis of at¢tirj in kry¥irJ the fmanrial ststerneTts. 1A FUND ACCOUNnMG General fvnds are unrestricttd frJThJs ¥AKh aThlable for use at the dis(xetion of the Tw5tees in furthefanc• ol the general ot¥ethbES of the Gro and ha¥e not b¢¢n deggnated lor othe purposes. DesvJnated funds 0)mpre estried fvnds ttwt have been sel •sth by the Tmslegs for part18[ purp05e$. The airn ¥rKI use of eath desIty1ed fund is set (Art in the notes to the fmanrial stst•mtnts. ReslrKted fvnds arg lund5 wtich a• to b• used in XC4Yda wilh spe(afic restrithons imposed by do[r$ or teen raised by the Group for parbcular purposes. The costs of rki5ing and admini8twing such funds are charged aInst the speofi¢ furKI. The am and use of each restricted fvnd is set Qui in the notes lo the finanGwl statements. In¥estrnenl COMe, gains and h)sses we akKaled to Ihe •pprcyr*ts fwld. P•3e 17
OotyJ8w En¥8W D-. F2E91Do>B55¥873M21+A754s5 DEVON COUNTY AGRICULTURAL ASSOCL4mM MOTES TO THE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 30 SEPTEMBER 202$ ACCOUNTING POUCIES (CO1ned 1.6 INCOME e is repjgnised orKe the ha5 entillement to the income, it PrOb that the Vlil bt rtcefftd arnftt of Irame Ilt4t Can measurtd rèliatly. Grants included in the ConsL4Klat8d statement of ffinancial ac11m.85 on a receidble basi5. The balance of ncome recei¥e(I fw speufic purposes but ncl expended during the pernd 15 shown tn the relaant fimds on the Bal shé•t. Wlw irteome is rÈcÈived in adne of entiuemènt of iacèipt, its recognition is tjeferred and included in Lyedrtors as deferyed ino)me. Where entitlement occurs or¢ i1me is r¢wbd, th irK>)me is •caed. Donated Ser¥1$ or fa¢MEs are rew3ni5ed when the A55t)n has ntr o¥er the ilem, any conditions assocraled with the ¢Jonated rtem rs tKobabte and that ecormie benefft can be measured reliably. In arrda the Charities SORP (FRS 1021. the 9eneral w)lurbteer lime is not r•cowsed. Pl•as• r•f•r to th• CrAm"I m8mb•rs' r•wt ftr mor• tnfomialion about their contrution. 1.6 EXPENDITURE ExpeTraiDJre is rets)9nised once thue ts a or c>Jns1ftrttNe obligatitin to transfer economic benefit to a third party. it is probable that a transfer of econcrfnic benefits wil be required in setuement and tha amount of th• obltim can be mèasured rtlkit4y. ExFénditurè 1$ daSsrfd by actmty. Th• ensts of each actiwty are rnade up ol the lotal of dire(I costs and shad $ts. incknying support o)sls w)¥olved in undertak5ng each %b¥fy. Dired costs attn"butable to a $gle acbwty are allocated direelly to that actNity. Shared costs which contrit&rte to more than one acb'¥ity and support costs which are not allrft)utable to a single actmty are apportThed betsween Ihose activities on a basis eonsistènl wlh the use of fesources. CentrJ slaff cosls are alh)cated the basrs ol time spent, and depreciation charps cated on thè Frt)n olthè assefs use. Costs of aeti¥tss furrence of thè chaiity$ obJ'e¢lThs rdès to eosts in r•set of the Dewn cjnty ShC. Costs of tra(ThJ ac•¥ibes relates lo costs ¥we¢J in respecl olts subs1lfry. 1.7 INTEREST RECEIVABLE Interest funds held on deposit is iK4utsJ tthen Ierable aThJ the amounl can be measured reliably by the Group.. this is noThnaty utw of the mleresl paid or payawg by th? inslitulion with whom Ihe lunds are deposrted. IA TANGIBLE FIXED ASSETS AMD DEpRE¢TrON Ffeehdd land is not depreciated. Fre8hdd 11$ wè iiebJd8d at cost I$ ac£umulated depreciation. As Ihe tenanted in¥eslment proFerties are 1neXtrb pari of the showground buildings and can ne¥er offÈt ur¥tStsi(tid pubk accèss. no leryth market valuation would meanwful. A leW for impafflient of a fe asset is erd oul il everts or Changes thi certlStanceS indiote that the c•rTrirwJ value of any fed asset may Trjt be {eco%wab. Shortfa15 befyveen the carrying ILW of fixed ass•ts and their recoverable amounts are rwni5ed as wnparrments. lrnpairmenl k6ses we recognised in the Ststernent offnan(ial xtsviknes. Page 18
Dow¥YJn ETr4ekp ID.. F2E9tDD>8S5¢873m21lDBFA754S9 DEVON coup¥rY AGRICULTURAL ASSOCIATIOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEIABER 2025 Accovi¥llNG POLICIES {t0thlhMj 1.8 TAIIGIBLE HXED ASSETS ANO DEPRECIATION ICONTINUEDI T91te fixed os$ets are carrRd at cost rt of dep>t any provision Irx irnpairment. Deweaalion is not Cha on freehc4d land. Depre(ya11 is wovKltd at Tatès ealtrjlated to wrrte off the CA)St of fixed assets. less their esiim•W rèsthal lUe. over their expected useful lives. The estimated useftl Ip$ are as folry7: FreelKld wopety Plant and rnhInery Fixtuces and fittings . 5.50yEws -5-10yea - 3-Syears 1.9 DEBTORS Tr¥de and ¢)ther debtss ar• recognised at the setuement 0nt after any trade discount offèred. Prepaymenls are ed at the amwnt prepaid nel of ony tradè discounts due. 1.10 CASH AT BANK AND IN HANO Cash at bank in hand irKhJth cash and slKrfblem liglfy I¥d inveslments wlh a short maturity ofthree morths le$$ from thè dalè of ¥iisthn or opening of the deposil or $maT account. 1.11 UABILITIES AND PROVISIONS Liabilities we rec(•Jnised then Ihere an al the Baanee sheet date as a result of a past event, it is prcable that a transfer of ec0M benefrt be requyed in $ettrnèn( aThJ thè amount of the setknent can be estimated rdiaw. LHbdths are recowised at the th fv c>mpany anliu"pat•S bt pay to sett Ihe debt or the amount li has rec8i¥ed as paYmts for the or ser¥xs rnust prowde. Pru¥lon$ are m¢asur¢d ¥t th• bgst •sknat• of the arnnts requwed to settle the oilp3atson. 1.12 FINANaAL INSTRUMENTS Associaion tY hcJs basr ffinaTrial instruments as d¢fin¢d Thi FRS 102. The fmanraal assets and finan¢ial liabdlies olth• Assoc4alM)n th1 measurement basts are as follryws: Fina4a1 assets - trade arKI olher debtors are fnarKyal instmments are debt Kistrunents mèasur8d at amorttsed cost Piepayments are not finanryal instnjments. FinaTKial liabd$ . tr•J• e¥¢dtss, aeauals arwj other tyeditt¥s are fttwcial instruments. and we measured at amortised cost. Taxab"on and s¢xi secunty are rK)t ilded in thè finaneial instrumènts disdosure definil)n. Deferred ira)rne is rK)t deemed io be a financial liabililty, as the cash settlement has already laken pla and there is an oNigation to deli4w seThices ralher than cash or another finanual instmm8 1.13 PENSIONS The Assockaticffl has a defmed coniribubon pensi(m s¢*eme open to al employeès gnd makes contthticKts in the case of 51aff membws who are part of Ihe scheme. Such costs are charged to the consclidated stslement olfinan¢ial acmiès on at) accnMis basis. 1.14VAT Expendilure is exdusi¥e off•oythable irwt VAT whwe applutle. Page 19
DtstJJsw F2E91D0>B554473m214AF54S9 DEVON COUNTY AGRICULTURAL ASSOCIATION NOTES TO THE FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 ACCOUNTING POLICIES Icontlnu•dl 1.15 TAXATION Based on it5 Status 45 a regthered charity arKI the use of ftThJ5 for thw*atle PLYP05e5 the Assooaton is exempt from corporatim tsxalion on the whole of its ir)xe. 1.16 GOVERNMENT GRANTS Grants are in the Statement of Finanual Ath"wti"es a reeervable basis. The balance of orne re1 for spwfic pwposes Iwl Th)1 expended during the period is shgvm in the relevant funds on the Balar Sheet. INCOME FROM DONATIONS AND GIIANTS . R•Sd funds 2025 Total fndS 2025 Total ld$ 2024 Donations Govemrnenl 9raN5 13.C 13mQ 15,750 13,C 13,000 17.750 TOTAL 21r24 17,7SO 17,7SO Pa9è 20
CeA¥aN ID.. F2E91D0>8s5M7W21&1>oFA7s459 DEVON COUNTY AGRKULTURALASSOCIATION NOTES TO THE FINANCIAL STATEhlENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 INCOME BY cHARABLE ACTMTY 2025 2024 The Devon County Show Entyfees Shown admissKJn and ticketing Trade stands aThJ tendefed contr Sponsotship and donats.ons Other sh¢Jw icome 69.177 684.742 529.835 113.224 69.808 516.161 494.849 113,514 1A66.786 1,226.457 Other Incom* Membership inc4me Agrifesl R¢JJtstock 67.689 16.025 18.436 $5.538 63, 18,763 27.470 157.688 140.338 OTHER TRADING ACTMTIES 2025 2024 YIESTPOINT TRADING INCOME InCe 1.116J44 1.278.285 WESTPOIKT TRADING EXPENSES Expenditure 780.018 796,582 Mel income from tr¥ding adivities-westpoint 336.326 481,703 Page21
DEVON COUNTY AGRICULTURAL ASSOCIATK>N NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 INVESTMENT INCOME Tolal lund$ 2025 Tolal frJnds 2024 fvnds 2025 Interest re¢eivat49 Rentsl ¢(#The 35.e67 189.7Q) 35.187 189.700 30,S14 194.013 225,367 225J67 224,527 TOTAL 2024 224,527 224,527 ANALYSIS OF EXPENDfTURE BY ACTMTIES Acliviti nd•rtaken rectly 202S Support Total funds 2025 Total funds 2024 202S The De*Yt County Show 1.454.680 24,540 2.379220 2,385.669 TOTAL 2024 1,378,9C 1.tsJ6,7&) 2.385,669 ANALYSIS OF SUPPORT COSTS Total ld$ 2025 Total funds 2024 Staff Costs Dewerialion 201.826 220.$96 302.661 179.503 4.3S5 15.599 273,657 203.185 325,549 173,663 18,893 13,813 Ass0ry8li¢)n overheads Interest payable Govemanr 924.540 1.006.760 Page 22
tIxoJ5vw ETr•lD-. F2E91DD>85Y473M21&9JAWA754S9 DEVON COUNTY AGRICULTURAL ASSOCIATION NOTES TO THE FINANCIAL STATEMEl¥fS FOR THE YEAR ENDED 30 SEPTEMBER 2025 NET INC(wEI{ExPENDUREj Tlis is Slated after thargiTrJ.' 2025 2024 Deweuation oftangiNe frxed assets.. - owned by the chantabte group ALvJilors' remunerbon- audit of Assoekabon ALYilors' rernunefatK)n- audit of subsbjiary AtJJitors' refflunefaliowb. olher ffinaTh>al AssLxlal# 220,596 203.185 8,400 6.Tr)0 6,61KI 1,OIKI 238.096 217,S8S suMtwiY The Association has Me fulty 0ed & c0rrfrdd sut6Ktary. We$"nI Centre IOe¥onl limited (company règistrats"1 number023711741. We¥tpoint Centre {De¥onl Lin•d Profit & Loss Account lorthe year emded 30 September 2025 2025 2024 Twnowr Cost of salès {•xdlry redmrgesl 1,116.344 1217.9001 1,278.285 (245.89T) Gross pmfft 698A44 1,032,388 Admini5trali¥e expenses (exdutSng retharggs) (86,6611 (95.$} 011.713 936,783 Ren( overtads and other C4)sts redr9ed bythe A55ogali 1475.45n {455,080} Profitforthe financial >*ar 336.326 481.703 At 30 September 2025 the ¢panY hal assets of £518.388 a1 Wiilib"e$ 01 £17S.964, fg$db"ng in net assets of £342.424. Page 23
DEVON COUNTY AGRICULTURAL ASSOCIATION IIOTES TO THE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 30 SEPTEMBER 2025 STAFF COSTS Group 2025 Gro ASsocIaOn Association 2024 2025 2024 Wages a1 salar Sw'al secunty Costs Conlribution to defined pensK¥) schemes 42S.393 S4.907 396,125 44A57 426.716 41.111 46.873 21.673 18.183 17J12 14,670 $01.973 549.(k$2 457.964 482.497 Therè was ont rtdundantypaenf paid in the year as exratia stttltmnl. This amounted to £18.3(%S and VRS pwd in full in the wior year. The average number of Fersons empW bythe c4ynpany dwirrtJ the was as fr41M.' Group Asso¢lation A$slation 2024 2fj25 2024 2025 15 15 13 13 The number of emplosees emplojtè benefits (txdJVj emptoyer PeThSK ¢Sts) exceeded £60.000 was.. Group 2025 No. Group 2024 No. In the band £fjO.l - £70.C For the ar enc 30 September 2025. key mana9ement personnel ¢05ts, patd by the charitywerè £137.77812024: £126211. fftdusive of employer NIC and nsI)n contritOnS. Page 24
DEVON COUNTY AGRICULTURAL ASSOCIATION NOTES TO THE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 30 SEPTEMBER 202$ 1 TANGIBLE FIXED ASss GROUP AND ASSOCIATION Freehold Plant and FixleS and property machirnry COST OR VALUATION At 1 October 2024 Additions Oisposafs 7.621112 149.726 1.1>04A46 92.397 {30.38Q) 150.561 12,673 .777.126 254.796 130.3801 At 30 Septèmber 2025 7.771A3e 1.066N63 163.241 9.001.$42 DEPRECIATION 1 Octobpr 2024 Ch•rg f¢y the yr On dispo55 4711538 14S.144 956.720 ST.626 130.380) 102.43S 17,826 5.771.693 220.596 130.3801 At 30 September 2025 4.157ffi82 983.966 120.261 5.961.909 IET BI)OK VALUE At 30 Septsrnber 2025 1914.156 B2.497 42.910 3.039.633 At 30 September 2024 2.9.574 47.726 48.133 3.005,433 The gross and net book Ydlue of freehc4d laThJ and bjiklings indudes 2025.. £402.%312024'. £402.563) beirvJ the cost of land, a noTrdepreci?ble a$set. on amount of 2025.. É343.68212024.. £343.6821 relakn.ng to the tsjst of iefurts.srent oltenanted investment [ffoperts. The tenanled proFerts h¥ r)t been classi as lTrrtsknènt Prwtss and subsequ•ntly r•valu•d to an open marftet e as they e inextficabty part ofthe ShgroUnd buildiTrJs aThJ can never be separated or be promded unrestricted acces5. As a res[ Cou g)nduded tha¢ no ams open valutsTM1Y be meanirw. P•Je 25
DEVON COUNTY AGRICULTUIiAL ASSOCIATION NOTES TO THE FINANCIAL STATEIIEPITS FOR THE YEAR ENDED 30 SEPTEMBER 2025 11. DEBTORS Group 2025 Gftxy Assoelatlon As60ciation 2W24 2025 2024 DUE WITHIN OME YEAR Trade debtors Other debtors Prepayments aThJ a¢Crd 125.842 158.841 5.174 .899 96.347 74.997 5.174 73.753 69.063 66.997 1x905 259.914 163.344 153,924 12. CREDITORS: AlfOUNTS FALLING DUE WITHIN OME YEAR Gmup 2025 Group Association Association 2024 2025 2024 Bank loans Trat1e uedito(s Arno¢Jnts 0¥1 to grwp undert*HS Other taxa1 and al seujrity Other creditors Ac¥yuals and deferred vKome 100.000 92.1Q7 105,924 77.718 100,000 88,626 486127 16.448 5.605 152312 105.¥d4 70.386 515,563 8.642 8,462 101.464 17.435 5.60S 323.708 48.927 187,599 53B.B55 428,830 849.718 810.441 The bank h)ans aTrJ 0rlaft fa?hty are secured on the frethjkl property ofthe ASslati.
DTraTh En¥eW ID.. F7E91DD>B55H73I&wA75ls5 DEVOM COUNTY AGRICULTURAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JO SEPTEIIBER 202S 13. CREDrroRS.' AAIOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Group 2025 Grwp Alation A5on 2024 2025 2024 Bank bar 16,667 116.667 16.667 116.eo7 The bank k>ans aThJ overthaft fa¢lrty 8r¢ sÈcured on the freehokl property oftheASsooatn. Inthded within the are 'r due as ILkn: Group 2025 Grp AssoeJatlon Associati"on 2024 2025 2024 BETWEEN ONE AND TWO YEARS Bank loans 16,667 11XI.WO 16.6$7 1Crf),WO BETWEEN TWO AND FWE YEARS Bank 16,667 16,667 Page 27
En¥eloFe ID.. F2E9100>0554473M21WD8FA75459 DEVON COUNfi AGRICULTURAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 202$ 1& STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance al Baknnce at 1 October 2024 Tr•n$fers September Inlgut 2025 om• FndItl? LINRESTRICTED FUNDS DESIGMATED FUKDS Deswa¢ed Fixed Asset FuThJ 3,005.433 {220,$961 254.796 3.039.633 GENERAL FUNDS Unlesled fijnds 686.695 2966.185 {2.452.567) 12x796 945.517 TOTAL UNRESTRICTED FUNDS 3.692.121 1966.18S (1673.1631 3,98S.180 RESTRICTED FUNDS Fam)vrise FamiY•ise traler Rootstock 8.452 4.639 10.1121 12.600 18,8331 11.785) 12.119 10.021 23.112 13,0ty) 110.6181 25A94 TOTAL OF FUNDS 3.715.240 2.979.185 12.613.7811 4.010.644 Page 28
OEVON COUNTY AGRICULTIIRAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOEO 30 SEPTEMBER 2025 1& STATEMENT OF FiINDS ICONnNUED) STATEMENT OF FUNDS- PRIOR YEAR Balance al Balartt at 1 Oclober 2023 Transfars September 2024 IrK¥me EyThthiur• UNRESTRICTED FUIIDS DESIGNATED FUNOS Dèsonated ffixed asset I(d 3.CXJ5.433 3,005,433 GENERAL FUNDS UrTrstrided funds 3.534.597 2.859.586 12,712.044) {2.995.4441 686.695 TOTAL UNREsTTED FUNDS 3.534.597 2,859.586 12.712.044) 9.989 3.692.128 RESTIIICTED FUNDS Farmwise Famiwse trailer EDDC CLTF Rootst* 3.227 12.930 13.7 18.5251 (2.3021 (3.9801 8,452 4,639 19,9891 10.021 10.021 20.107 27.771 114,77n 19,9891 23.112 TOTAL OF FUNDS 3.554.704 2.887.357 (2,726,821) 3,715.240
DEVON COUNTY AGRICULTURAL ASSOCIATION NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 14. STATEMENT OF FUNDS (C014TINUEDI Durirrfj Ihe pr)r finanaal year, the trustees dwded io separaiety reF¢rt the funds thal relale lo the Group's Fixed Assets within Ihe Deg'gned Funds. Wh is why there is a transfer in thè prior year fer £3.005.433 into the Desanated Funds. For the ojrrent year. the expenditure of £220.596 relates lo the depreciatw charge applied to the fixed assets. lIe thè transfer in of t254,796 rdates to the addilion$ rchased in the year. This results •) the DesKJnated Fd havry a caryied Iard balance of £3.039,633. being the ret I0k value of frxed a$5et5. Farmwi5e is a thafitable ebwt hekl on the ShaVryrnd to e1cate primary 5choDI chiklren in agricJJknral and food mattets. The Assouatth faulrtate this by pro7Aing Ihe Hall an(J olher lacAlitses free of ¢har9e. It also as515ted in Provitling aunnCY ser¥ices and the arnounts shown are tfK)sè raised a)d expended on behaw ol Famiwis•. Th• balance carried fomard is to faolitate fthure years events. Fammise Veh relates tr) funds r8c8i¥ed fLYlhe wrpose olsetkng up a1 running Farmwse acbwties from a rn¢)bile traler. h#ver a derysw was made in a prevws financi year to allxate funds to purchase a vthh instead of a trailei. The AssocAlw)n wrchased a vehi¢ during the previ¢Jus finanaal year. EDDC CLTF was fvnding to be used to purchase and install accessibitrty equipment to upgrade faCrt$ and bèyond thè statutory aC$*bA rèquirements. The lund was spent in lull during the prky fancl year. The restricted fvNI is a reserye fvnd that 15 R()tsto oyrferertes. The transfer ofthe traiferfvnd in Ihe SYK>r year relate5 to the pur¢h¥se ofa taThJiblÈ fixed 8sset. as Mted above. 16. ANALYSIS OF ASSETS BETWEEN FUNDS AIIALYSIS OF ASSETS BEfwEEN FUMDS. CURRENT YEAR Restricted Unrn5twicted funds lunds 2025 2025 Tolal funds 2025 Tgible fed assets 3.039,633 3,039.633 1.501,039 1,526.533 (538.8551 IS38.85SI {16,66n 116,6671 25,494 credito due within cthe ye Credit$ due in more Ihan one ye TOTAL 25.494 3,98S.150 4.010.644 Page
DVan En¥&)10-. F911)D>B55+873m21Jafj8ÈA754S9 OEVOM COUNTY AGRICULTURAL ASSOCIATION NOTES TO THE HNANCIAL STATEMEi¥rs FOR THE YEAR ENDED 30 SEPTEIABER 2025 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS ICONnNUEDD ANALSIs OF MET ASSETS BETWEEN FUNDS. PRIOR YEAR RestrKted Unreslrided ftmds funds 2024 2024 Total fijnds 2024 Tangible fixed at5 OJNant assats Creditors due within y¢¥ Creditors duè in mort than y•ar 3.IKIS.433 3.lJ15.433 1231.992 1.255.104 142B.630) 142B.630) 1116.667) 1116.eon 23.112 TOTAL 23,112 3,692.128 3.715.240 RECONCIUATION OF MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING AcTlEs 16. Group 2025 Group 2024 295A04 160.536 AIKIUSTMEp¥fs FOIL. Cpreciation chges (Irease)IdCr¢ase in debtors Increase in CTedit¢x5 Int$t Rèc*v8tl• 220.596 91.061 90.097 135.6671 203.185 {147.2931 105.590 130,514) NET CASH PROVIDED BY OPERATIMG ACTMTies 661.491 291,504 17. ANALYSIS OF CASH AND CASH EQUNALEMTS Group 2025 Group 2024 Cash irh h•ThJ 1.331.628 99S.1g) TOTAL CASH AND CASH EQUIVALENTS 1.331.628 995.190 Page 31
OEVON COUNTY AGRICULTURAL ASSOCIATION NOTES TO THE FINAhlCIAL STATEMENTS FOR THE YEAR ENOEO 30 sepTEMBER 2025 18. ANALYSIS OF CHANGES IN NET DEBT At30 Septembgr 202S tob•r 2024 Cash Ilows Cash at bank #i haThJ Debt duè wlhin 1 year D¢bt due aftw 1 y&41 995,190 {105,9241 {116,66n 336,438 5,924 100.0 1.331.628 1100.0001 (16.6671 T12.S99 442.362 1.214.961 19. CONTINGENT ASSETS During the year ended 30 September 202S, the charity has gjbmitted a to HM Revenue & Customs IHMRCI in respect of the reco¥ery of VAT from the wrenl and weoU$ financial periods. The tharty has engaged specialist VAT ath"sNs on a Contingent leè basis lo pursue the daim. Any related costs 11 on be paythe rf the daim is successful. The total value of the dairn amwnls to £248.169, nel of the VAT ath'sors fee. At Ihe rewt"rwJ date, the outcome of the daim remains uncertain and is dependent HMRC'S reMew and a¢¢eFrtance of the dwm. Ac£ordingty. no a$5et has been recognwl in these fmanryal slatements. in accofdance wrth FRS 102 Seth"on 21 Provssions and Contsngenoes. shad the da¥n be SLmssfvl, the eharity reojgnise the recapt as #Itme in the period in which Ihe outcorne becomes wrtyalty certain. The charity ha5 reed preliminary coriespondence Irgrn HMRC I¢Cating that VAT ièda"m may bè Vad. HI8%r. as the matttf has Th)t been lormally agreed, no receivable has teen recognised at the ar end. 20. CONTINGEKT LIABILMES Iring thè yr ended 30 Septembèr 2025, Iht eharty submrtitd a dain to HM Revenue & Customs (PNRC) in respec¢ of the re¢owy of VAT from the CUTnI and previous ffinanrAal perK)Js. The tharity has been QFeTab"ng on the basis that amwnt5 are recoverable and therefore has assumed Ihat moviny forward. Specif amounts be exernpt from VAT. Ir ihe clairn rnen1ned in the contingent asset note is j¢ct¢d. it is Ikety HMRC wnl to ièdain the VAT on ss that have been aSSLmed to bè exempt. If th$ i¥ ¢cT. Ihe t[ amount saved up to indudirvj tIE S¥ember 2025, and thtrrtrfN¢ which 11 be pay lo HMRC is £78,975. ojrrènt underslanding ts that this is unlikety, as advised from speudist VAT adw'sors. ac¢ordingty no liabilty has been re¢ogni5ed in Ihese fjnawial 5talernenls, in a¢¢old Twith FRS 102 Stcon 21 Pr$$ Cty)tingtirws. 21. PENSION COMMIThIENTS The Association has a [me contri pensN)n stt*m•. Th• eosts charged for the year represent contributions payable by Ihe wnpany to the scheme and amount&J to 2025.. £17.38212024: £14,670). Pa9è 32
D¢9n EnbloF• ID.. F2E9tDD>B5514llM21WDBFA75159 DEVON COUNn AGRICULTURAL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 202$ 21 OPERATING LEASE COMMITMEMTS At 30 September 2025 thè Group a1 the c(Mnpany commitments to future mininum ase payrnents under nowancelwe cperabrg 12ases as folh)w3.' Group 2025 GroLV A%soclatlon ASSlat 2024 2025 2024 Not laterthan 1 yew 3.289 3,289 23. RELATED PARTY TIIANSACTK>NS ring the ypar. the AsscK4ation retharged MInIs1r?11¥e of É475,45712024.. £455.0801 indudirtg rent charge of £140.(K4J12024.' £130.(X)01 to Westpoint Centre It)ewl Limited. During the year. the Associatyort re¢eiNEd a payrneni of £461.70312024.. £427.581) from weslw.ni Centre {Devonl Limrted under GiftAxl. At the year end. the bal ved by Dew)n County AgiiuJbJral As%)ction to Westwnl Centre (D¢vonl mrted was £486.82712024- £515.563}. Transactions wilh membels olthe Board ofTnt¢e$ (wd enthes and Wl¥)dUal$ related to those Trustees) were as folkA¥S: LAJring the yeor£3.92412024: £5.1131 w¥$ p•kJ to H & M Rel¥ in M H Ret8li Trust¢¢, 1$ partner. for the sup(ty ol straw. £710). During thè yw, O (2024.21 Tntsteès recetsd prize rntw from Ihe shNfor entries in th• Woodland category. The were no enlry fees for this category in 2025 or 2024. During the year, purchases were mle from a bJsin8ss in wthich A J Gray has significant influence. The trans*iS am(MJrted to £1.LYJ9trtht suppty of rneat for wtimdeil at the $htyw and Olhor event {2024.' £724). tring the cwrèrt Tnlee iee•Ned any renumeratI or benefrts in kind other than those disthed above. 2& FINANCIAL IMSTRUMENTS Group 2025 Griyjp Assoclatlon Association 2024 2025 2024 FINANCIAL ASss FinanciJ 855et8 measured #t 8rnty1&sed c¢st$ 1 J312• 995.190 1.331h28 995,19) FfinalKl assets mea$urod at amcrftwd cost ¢omthd of cash at bank & kn horrtl.
OouJ8i9n Enbbr IO". F2E91DD>B554873M21&9JADBFA75159 DEVON COUNTY AGRKULTURAL A8SOCIATIOM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 TRUSTEES, REIIUNERATION AND EXPENSES Durirvj the ar. M Trustees receibed any remWwatI or other benefits12024- £NILI. Durir¥J the JEar eThJed 30 September 2025. no Tntstee expenses have been incurred12024- £NIL). Pa9e 34