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## 

|Reference and Administrative<br>Details|Reference and Administrative<br>Details|Reference and Administrative<br>Details||
|---|---|---|---|
|Trustees' Report|||2 to 4|
|Independent<br>Examiner's||Report||
|Statement ofFinancial||Activities|6to7|
|Balance Sheet|||8 to9|
|Notes to the Financial|Statements||10to 24|





|||||Bridport Area|Bridport Area|Development|Trust|
|---|---|---|---|---|---|---|---|
|||||Reference and Administrative|||Details|
|Trustees||||JA West||||
|||||D Lee||||
|||||SCarney||||
|||||P Culpin||||
|||||A BScutt||||
|||||CBove||||
|||||A JCook||||
|||||RM Paterson||||
|||||M W Wakar||||
|Charity Registration|||Number|1137231||||
|Company|Registration||Number|06864923||||
|Registered||Office||LSI||||
|||||51East Street||||
|||||Bridport||||
|||||Dorset||||
|||||DT6 3JX||||
|Independent||Examiner||Scott Vevers Ltd||||
|||||Chartered|Accountants|||
|||||and Registered||Auditors||
|||||65 East Street||||
|||||Bridport||||
|||||Dorset||||
|||||DT6 3LB||||
|Accountants||||Scott Vevers Ltd||||
|||||Chartered|Accountants|||
|||||and Registered||Auditors||
|||||65 East Street||||
|||||Bridport||||
|||||Dorset||||
|||||DT6 3LB||||
|Bankers||||TSBBank|pic|||
|||||Bridport||||
|||||9West Street||||
|||||Bridport||||
|||||Dorset||||
|||||DT6 3QL||||





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|||||and Loss|es)|||
|---|---|---|---|---|---|---|---|
||||||||Total|
|||||Unrestricted|Restricted|Endowment|2022|
||||Note|||||
|Income and Endowments|||from:|||||
|Donations<br>and grants||||4,783|75,908||80,691|
|Investment<br>income||||488|||488|
|Other income including||trading||||||
|income||||39,914|||39,914|
|Total Income||||45,185|75,908||121,093|
|Expenditure<br>on:||||||||
|Costs ofgenerating|funds|||(31,531)|||(31,531)|
|Charitable<br>activities||||(1,626)|(73,948)||(75,574)|
|Total Expenditure||||(33,157)|(73,948)||(107,105)|
|Net income||||12,028|1,960||13,988|
|Transfers<br>between|funds|||(11,240)|11,240|||
|Other recognised|gains|and||||||
|losses||||||||
|Other gains/losses||||||||
|Net movement<br>in funds||||787|13,200||13,987|
|Reconciliation<br>offunds||||||||
|Total funds brought|forward|||1,941|138,573|2,750,679|2,891,193|
|Total funds carried|forward||18|2,728|151,773|2,750,679|2,905,180|





## 

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||||and Loss|es)|||
|---|---|---|---|---|---|---|
|||||||Total|
||||Unrestricted|Restricted|Endowment|2021|
|||Note|||||
|Income and Endowments||from:|||||
|Donations<br>and grants|||6,933|78,671||85,604|
|Investment<br>income|||687|||687|
|Other income including|trading||||||
|income|||19,342|||19,342|
|Total Income|||26,962|78,671||105,633|
|Expenditure<br>on:|||||||
|Costs ofgenerating<br>funds|||(1,880)|||(1,880)|
|Charitable<br>activities|||(4,745)|(86,871)||(91,616)|
|Total Expenditure|||(6,625)|(86,871)||(93,496)|
|Net income/(expenditure)|||20,337|(8,200)||12,137|
|Transfers<br>between<br>funds|||(23,115)|20,449|2,666||
|Net movement<br>in funds|||(2,778)|12,249|2,666|12,137|
|Reconciliation<br>offunds|||||||
|Total funds brought<br>forward|||4,719|126,324|2,748,013|2,879,056|
|Total funds carried forward||18|1,941|138,573|2,750,679|2,891,193|





## 

## 

|||Bala|nce Sheet as at 31|March 2022|||
|---|---|---|---|---|---|---|
||||||2022|2021|
|||||Note|||
|Fixed assets|||||||
|Tangible assets||||11|33,024|39,614|
|Heritage assets||||12|2,750,679|2,750,679|
|Investments||||13||I|
||||||2,783,703|2,790,294|
|Current<br>assets|||||||
|Debtors||||14|19,583|7,047|
|Cash at bank|and in hand|||15|162,666|144,768|
||||||182,249|151,815|
|Creditors: Amounts||falling due within|one year|16|(21,552)|(50,916)|
|Net current|assets||||160,697|100,899|
|Total assets|less current liabilities||||2,944,400|2,891,193|
|Creditors: Amounts||falling due after|more than one year|17|(39,220)||
|Net assets|||||2,905,180|2,891,193|
|Funds ofthe|charity:||||||
|Endowment|||||2,750,679|2,750,679|
|Restricted|||||151,773|138,573|
|Unrestricted|funds||||2,728|1,941|
|Total funds||||18|2,905,180|2,891,193|





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|Asset class|Asset class|Depreciation|method and rate|method and rate|
|---|---|---|---|---|
|Fixtures|and fittings|10year straight||line|
|Computer|equipment|3year straight||line|



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|3<br>Income from|donations<br>and legacies||||
|---|---|---|---|---|
|||Unrestricted|||
|||funds|Restricted|Total|
|||General|funds|funds|
|Grants, including|capital grants;||||
|Grants from other charities||4,783|75,908|80,691|
|Total for 2022||4,783|75,908|80,691|
|Total for 2021||6,933|78,671|85,604|





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|||||Unrestricted|||
|---|---|---|---|---|---|---|
|||||funds|Restricted|Total|
|||||General|funds|funds|
|Interest receivable|and similar||income;||||
|Interest receivable||on bank|deposits|488||488|
|Total for 2022||||48S||488|
|Total for 2021||||687||687|
|5<br>Other income|including||trading income||||
|||||Unrestricted|||
|||||funds|Restricted|Total|
|||||General|funds|funds|
|Rental income||||30,299||30„299|
|Merchandise<br>sales||||9,615||9,615|
|Total for 2022||||39,914||39,914|
|Total for 2021||||19,342||19,342|





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|6<br>Expend|iture<br>on generating<br>funds|||
|---|---|---|---|
|||2022|2021|
|Direct expenses|||304|
|Promotion|and advertising|5,817|1,576|
|Utilities||9,833||
|Telephone|costs|4,856||
|Gleaning||10,479||
|Project costs||433||
|Bank charges||113||
|||31,531|1,880|





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|Net outgoing<br>resources|Net outgoing<br>resources|for the year include:|Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|2022|2021|
|Hire ofequipment||||||800|
|Buildings<br>insurance||||4,718|4,718|4,685|
|Wages and salaries||||13,225|13,225|16,667|
|Staffpensions<br>(defined||contributions)||210|210|194|
|Stafftraining||||||160|
|Travel costs||||230|230|62|
|Utilities||||455|455|4,433|
|Telephone<br>costs||||243|243|8,456|
|Printing,<br>postage and stationery|||19|727|746|873|
|Project costs||||10,667|10,667|5,050|
|HLF Resilience costs||||22,925|22,925|16,933|
|Promotion<br>and advertising||||1,034|1,034|1,646|
|Sundry<br>expenses|||108|225|333|173|
|Covid-19 expenditure||||||7,174|
|Audit and accountancy|||570|4,700|5,270|3,669|
|Trustees'<br>indemnity|insurance||532||532|507|
|Legal and professional||fees|75|7,638|7,713|6,348|
|Bank charges|||322||322|355|
|Depreciation||||6,590|6,590|11,978|
|Cleaning||||15|15|1,453|
|Bad debt written off||||346|346||
|Total|||1,626|73,948|75,574|91,616|





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|The aggregate<br>payroll costs were as follows:|||
|---|---|---|
||2022|2021|
|Staffcosts during the year were:|||
|%ages and salaries|13,225|16,667|
|Pension costs|210|194|
||13,435|16,861|



|the year|was as f|ollows:||||||
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|||||||No|No|
|Average|number|ofemployees,|per|head|count|||





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## 

|11 Tangible fixed assets||||
|---|---|---|---|
||Furniture<br>and|Computer||
||equipment|equipment|Total|
||||f,|
|Cost||||
|At 1 April 2021|55,533|21,948|77,481|
|At 31March 2022|55,533|21,948|77,481|
|Depreciation||||
|At 1 April 2021|16,994|20,873|37,867|
|Charge for the year|5,819|771|6,590|
|At 31March 2022|22,813|21,644|44,457|
|Net book value||||
|At 31March 2022|32,720|304|33,024|
|At 31March 2021|38,539|1,075|39,614|





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|12 Heritage assets|||||
|---|---|---|---|---|
||West Bay|Literary|488||
||Methodist|Scientific|||
||Chapel|Institute||Total|
|Cost|||||
|At 1 April 2021|148,731|2,601,948||2,750,679|
|At 31March 2022|148,731|2,601,948||2,750,679|
|Depreciation|||||
|At 31March 2022|||||
|Net book value|||||
|At 31March 2022|148,731|2,601,948||2,760,679|



|Summary<br>of|transactions|transactions||||||
|---|---|---|---|---|---|---|---|
||||2022|2021|2020|2019|2018|
|Development|costs|||||||
|capitalised||||||||
|Literary 4 Scientific||Institute||2,666||100|1,430,954|
|West Bay Methodist||Chapel||||124,083|29,304|
|Total additions||||2,666||124,183|1,460,258|





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## 

|13 Fixed asset investments||
|---|---|
|Shares held in LSI Alembic Limited,|subsidiary|
|Shares in Subsidiary||
|Cost||
|At 1 April 2021||
|Disposals||
|At 31March 2022||
|Net book value||
|At 31March 2022||
|At 31March 2021||



|13 Fixed asset investments||||
|---|---|---|---|
|||2022|2021|
|Shares held in LSI Alembic Limited,|subsidiary|||
|Shares in Subsidiary||||
|||Subsidiary||
|||undertakings|Total|
|Cost||||
|At 1 April 2021||||
|Disposals||||
|At 31March 2022||||
|Net book value||||
|At 31March 2022||||
|At 31March 2021||||
|14 Debtors||||
|||2022|2021|
|Debtors and prepayments||6,243|1,764|
|VAT recoverable||1,253|2,320|
|Other debtors||12,087|2,963|
|||19,583|7,047|





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## 

|||||||||2022|2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
|Cash on hand||||||||||115|
|Cash at bank|||||||||162,666|144,653|
||||||||||162,666|144,768|
|16 Creditors: amounts||falling|due within||one year||||||
|||||||||2022||2021|
|Other loans|||||||||3,740|37,400|
|Other creditors|||||||||7,350|10,518|
|Accruals|||||||||10,462|2,998|
||||||||||21,552|50,916|
|17 Creditors: amounts||falling|due after||one year||||||
|||||||||||2022|
|Loans||||||||||29,920|
|Other creditors||||||||||9,300|
|||||||||||39,220|
|Included<br>in the creditors||are the|following||amounts|due|after more than|five years:|||
|||||||||2022||2021|
|Atter more than five years by instalments|||||||||14,960|18,700|
|18 Funds|||||||||||
|||Balance at|||||||Other|Balance at|
||||1 April||Incoming||Resources||recognised|31March|
|||||ZOZ1|resources||expended|Transfers|gains/(losses)|2022|
|||||||||||K|
|Unrestricted|funds||||||||||
|General||||1,941|45,|185|(33,157)|(11,240)|(I)|2,728|
|Restricted funds||||138,573|75,908||(73,948)|11,240||151,773|
|Endowment|funds||||||||||
|Expendable||2,750,679||||||||2,750,679|
|Total funds||2,891,193|||121,093||(107,105)||(I)|2,905,180|





## 

## 

|||||||Balance at|
|---|---|---|---|---|---|---|
|||Balance at 1|Incoming|Resources||31March|
|||April 2020|resources|expended|Transfers|2021|
|Unrestricted|funds||||||
|General||4,719|26,962|(6,625)|(23,115)|1,941|
|Restricted funds||126,324|78,671|(86,871)|20,449|138,573|
|Endowment|funds||||||
|Expendable||2,748,013|||2,666|2,750,679|
|Total funds||2,879,056|105,633|(93,496)||2,891,193|
|Restricted funds|||||||



|||Balance at 1<br>April 2021|Balance at 1<br>April 2021|Incoming<br>resources|Resources<br>expended|Transfers|Balance at 31<br>March 2022|
|---|---|---|---|---|---|---|---|
|The Bridport Literary<br>Scientific Institute|and||51,678|17,000|(13,091)|32,025|87,612|
|LSI:Resilience|||19,539|43,061|(33,196)|(29,404)||
|LSI:Historic England||||||||
|The West Bay Methodist<br>Chapel|||67,356|15,847|(27,661)|8,619|64,161|
|Total restricted<br>funds|||138,573|75,908|(73,948)|11,240|151,773|





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||||Unrestricted||Endowment|Total funds at|
|---|---|---|---|---|---|---|
||||funds|Restricted|funds|31March|
||||General|funds|Expendable|2022|
|Tangible|fixed|assets||33,024||33,024|
|Heritage|assets||||2,750,679|2,750,679|
|Current|assets||36,388|145,861||182,249|
|Current|liabilities||(3,740)|(17,812)||(21,552)|
|Creditors|over|1 year|(29,920)|(9,300)||(39,220)|
|Total net assets|||2,728|151,773|2,750,679|2,905,180|



## 

|Categorisation|Categorisation|offinancial|offinancial|instruments||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2022|2021|
|Financial|assets|that|are debt|instruments|measured|at amortised|cost|176,006|150,051|
|Financial|liabilities||measured|at amortised|cost|||(27,112)|(13,516)|
|Loan commitments|||measured|at cost less|impairment|||(33,660)|(37,400)|
|||||||||(60,772)|(50,916)|