Devon County Show organisers are assessing the “significant financial impact” of having to cancel the final day of the event due to heavy rain.

Torrential rain hit the site near Exeter on Friday 23 May, turning car parks into a quagmire and causing a spate of accidents on the grounds.

The Devon County Agricultural Association (DCAA) decided to close the site on the Saturday (24 May). It is the first time the show has been cancelled in its 119-year history.

See also: Heartbroken organisers cancel show due to rain

The DCAA has already pledged to refund unused tickets for the last day of the show – a decision taken at a crisis meeting called on the bank holiday Monday.

Chairman of the show’s management board, John Maunder, said that the abandonment would have a significant financial impact

“There is a lot to do to address the financial implications and to repair the site, however the team will soon be working on next year’s show, which will be held on 21-23 May 2015.”

He added that the decision to refund tickets was an expression of thanks to visitors.

“Without their support we would not have a Devon County Show, and the board felt that we should stand by them, just as I hope that they will stand by us,” Mr Maunder said.

The show will put a form on its website by Wednesday morning. Anyone with unused purchased Saturday (24 May) tickets should download the form and return it, along with their tickets. For e-tickets, complete the form and return it, the DCAA said.

Applications should be made by Monday June 30 at the latest. Refunds will be made by the end of July.