Although all its directors and the majority of its shareholders are L&BR Trust Members, Exmoor Associates, a company limited by share, is completely separate and independent of the L&BR Trust.
EA's focus is the opportunistic purchase of parts of the former route of the railway south of Wistlandpound. It's shareholders have already purchased several sections of the old L&B trackbed, and some of that land has recently been transferred to the L&B Trust and its subsidiary operating company. This land will soon play a key part in the rebuilding of the L&B back to Wistlandpound.
EA has declared it has no intention to seek planning permission or to construct or operate a railway on any land they own. In addition, Yeo Valley Trust has been formed as a registered charity, to further the work of EA in the southern section of the L&BR route.