Company Registered No. 06864923
Charity Registered No. 1137231
BRIDPORT AREA DEVELOPMENT TRUSr
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

BRIDPORT AREA DEVELOPMENTTRUST
coNrENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Charity Information
Report of the Trustees
Report of the Independent Examiner
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9-18

BRIDPORT AREA DEVELOPMENT TRUST
CHARITY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024
TRusfEES:
P Culpin- Chair
l Bark
J Bourbon {appointed on 28 August 2024)
M Collard
A Cook
DLee
M Wakar
J West
J Fisher (resigned 16 July 2024)
l Johnson (resigned 26 July 2024)
R Paterson {resigned 26 March 20241
A Scutt (resigned 26 March 20241
REGISTERED OFFICE:
LSI
51 East Street
Bridport
Dorset
DT6 3JX
REGISTERED COMPANY NUMBER:
06864923
REGlSfERED CHARITY NUMBER:
1137231
BANKERS:
TSB Bank plc
9 West street
Bridport
Dorset
DT6 3QL
INDEPENDENT EXAMINER:
Marcus Cridland B.A.{Honsl F.C.A.
Scott Vevers Ltd.
Chartered Accountants
and Registered Auditors
65 East Street
Bridport
Dorset
DT6 3LB

BRIDPORT AREA DEVELOPMENTTRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also Directors for the purposes of the Companies Act, present their report and the
accounts of the Bridport Area Development Trust IBADTI for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in the notes to the
accounts and comply with the Charity's governing document, applicable law and the requirements of the
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the U K and Republic of Ireland IFRS 102).
Objectives and ortivities
The Trust's objects, as set out in the Memorandum of Association, are the promotion for the benefit of the
public of urban or rural regeneration in areas of social and economic deprivation. The Trust was set up with
the aim of delivering community projects in Bridport and the surrounding area of West Dorset, with
particular current focus being the provision of work and training spaces to support local startups and small
businesses. The Trust is committed to the protection and retention of Community Assets, in the form of land
and buildings, and in bringing them into renewed use in a manner that SUPPOrts and contributes to the
Bridport Area Community.
Achievements und performance
The Trust took over, restored and revitalised, two historic buildings, the: Literary and Scientific Institute ILSil
in Bridport, a Grade Il. listed building. now with a mixture of commercial office Space and community use;
West Bay Discovery Centre, a former Grade 11 listed Methodist church in neighbouring West Bay, now
providing visitor information about the history and environment of West Bay and its surrounds.
Following a major review of the Literary and Scientific Institute ILSil in 2020/21, the Trust achieved a solution
for the building that provided sufficient commercial income from tenants to underpin its medium-term fi-
nancial 5UStainability, while also ensuring community access. The first full financial year for this new financial
and operational model was 2022/23.
Since the implementation of this innovative charitable/commercial partnership, however, it ha5 been a chal-
lenging couple of years for the Lsi. More frequent severe weather has exposed and exacerbated weakne55es
in the 200-year-old structure with floods and leaks damaging fixtures. fittings and decor. or compounding
existing problems, causing disruption and inconvenience to the tenants, trying their patience and stretching
the resources of the board.
Neverthele55, we have worked together to minimi5e and mitigate any disturbance, and we are pleased to
have renewed the lease of main tenants Crowdfunder.
Crowdfunder are a successful, high-profile, high-tech business based in Bridport. They contribute significantly
to the local economy, providing employment and career opportunities. They operate nationally but have also
run crowdfunding for local organisations, helping to raise fund5 approaching £1,000,000 for a wide variety of
community projects.
On the Trust's behalf, Crowdfunder manage the operation and bookings of Lsi facilities including hot desks,
drop desks, a meeting roorn, editing suite and the courtyard, which is available for talks, meetings, displays
and other group activities. These amenities attract regular and occasional user5 from the local community
and further afield. A notable regular activity 15 The Bank of Dreams and Nightmares, an innovative and
inspiring creative writing workshop for young people. Other events include community talks, free drop-in

BRIDPORT AREA DEVELOPMENT TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
legal clinics; and seasonal markets. The kitchen, originally built for the now-c105ed café, has been used for
product development by a vegan chef and subsequently to bake cakes for a market stall.
We are delighted to continue our relationship with Crowdfunder, but we must also report that financial ad-
visers Gillingham's, our second tenants, have relocated and the vacated space is available to rent.
Initially• Crowdfunderfs subtenant was 3DCentre13DCI, founded by renowned international human rights
lawyer Clive Stafford Smith to mentor young people in human rights, humanitarian issues and social,
econornic and environmental justice. 3DC has recently been superseded by The Justice League, also run by
Stafford Smith, whose objective remains "empowering the next generation of human rights activists...and
advocates for justice".
The Justice League's aim is to ensure that these young people "have the motivation, mentoring and rnoney
that they need to launch their own careers using the law... to protect vulnerable people and our vulnerable
planet"
This is achieved by working with schools, universities and through apprenticeships, whereby apprentices re-
ceive hands-on experience of human rights work on Stafford Smith's cases and projects. Most apprentices
come from programmes Stafford Smith teaches at Bristol University and Goldsmiths, University of London.
He is particularly keen to work with young people from backgrounds that are under-represented in the legal
profession.
The Justice League is a community interest company ICICI, which means it has a social purpose and does not
make a profit.
The Lsi is funded mainly by rent from the tenants but also receives a grant from Bridport Town Council. The
trustees a￿ grateful to the Council for their continued support, which is embodied in a Service Level
Ag￿eMent.
The Georgian Grade11 listed building is expensive to maintain and the rental income is absorbed by running
and maintenance costs. For example. major maintenance expenses have included- re-rendering of one wall
(funded by Historic England); re-decoration after flooding during very heavy rain (funded by an insurance
claim less excess),. water ingress at various points causing damp {funded by the Trust): and work to identify
the cause of structural cracks (to be paid by the Trust).
The restoration of the West Bay Dlscovery Centre was completed by the Trust in 2018, supported by grants
from the Coastal Communities Fund, Bridport Town Council and other local foundations. In the yearto March
2024 the Centre had 25,763 visitors, a new annual record for the Centre. Since opening, to date it has
welcomed in total over 100,000 visitors. The Centre regularly ranks amongst the top ten free visitor
attractions in the south-west of England. The operation of the Centre is supported by a part-time manager, a
team of around 40 enthusiastic local volunteers and a small volunteer management group. which included
two trustees, one of whom represents Bridport Town Council.
In 2023124 the Discovery Centre ran pop-up exhibitions on commercial fishing and the Lyme Bay Marine
COnse￿ation Area, and later in the year West Bay at War, an exhibition looking back at life in West Bay prior
to D-Day. The Centre a150 organised holiday activities for children in the Centre and a programme of weekly
guided walks. It continues to build its reputation and the Centre team were delighted to add to their previous
awards with an Eco Green Business Award" at the West Dorset Business Awards.

BRIDPORT AREA DEVELOPMENTTRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Discovery Centre is free to enter for visitors. A large proportion of its funding comes from merchandise
sales, with the balance from vi51tor donations, fundraising, regular supporters, and grants. The largest grant
is from Bridport Town Council. A grant from Dorset Council's Culture and Communities helped cover the cost
of the Marine Conservation exhibition.
The Centre continues to work in partnership with several local organisation5. including Bridport Town Council
and its Tourist Information Centre. Following exploratory discussions, it was agreed by the Trust in Ju ly 2021
that the Centre building and its operation would transfer out of the Bridport Area Development Trust to the
Bridport Community Trust, an arms-length trust body set-up by the Town Council. The Town Council will
operate the Centre on behalf of the Trust. Further extensive discussions have progressed the proposed
arrangement, which we believe will provide a secure futureforthe Discovery Centre and enable itto continue
to develop within the framework of the Town Council and its Tourist Information function. The transfer is
experted to be completed in autumn 2024.
Financial Review
The Statement of Financial Activities shows a surplus on unrestricted funds, after transfers, of £l,50012023:
£3,454).
Restricted funds saw a total deficit of £4,021 in the year (2023: surplus of £5,047). The year's unrestricted
surpluses attributable to activities at the two centres- LSI and West Bay Discovery Centre- were transferred
into their respective operational restricted funds, in line with the Board's decision of December 2018.
At the year end, the total funds held by the Charity were £2,911,82012023: £2,913,681). This included
restricted funds of £152,79912023: £156.8201 and endowment funds of £2,751,339 (2023: £2,750,679).
Resenies Policy
The Trust's reserves policy is to hold reserve5 amounting to at least one year's normal operating expenditure,
to support the future running costs of the Trust. At the end of the year, Unrestricted Reserves and the two
operational restricted funds totalled £160.481 (2023: £163.0021; one year's operating costs would normally
not exceed £lOO,000.
In light of the various recent uncertainties. the trustees will keep this policy under regular review. The high
level of reserves 15 considered desirable Eiven the historic nature of both of the Trust's buildin85 and the
propensity of the LSI to require frequent unplanned maintenance to the building and plant.
Structure. Governance and Management
The Trust is a charltable company limited by guarantee and governed by a memorandum and articles of
association dated 20 March 2009 as amended byspecial resolution{s) dated 22 5eptember2017. Membership
of the BADT 15 open to local community groups, organisations, businesses and individua15. The Trust has over
50 members who elect the trustees and directors at the Annual General Meeting.
The Board carries out a 5ki115 audit of the trustees and assesses skills gaps. The Trust then advertises for
trustees with appropriate skills and assesses candidates accordingly. There is one trustee from Bridport Town
Council, reflecting the historic and current importance of our partnership with the Council. The Trust looks to
achieve diversity in terms of skill and other characteristics.

BRIDPORT AREA DEVELOPMENT TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The minimum number of trustees is three, with no maximum. Trustees are appointed by a general resolution
of the members or bythe existingtrustees. Any trustee appointed bythe existing trustees is required to stand
down at the next Annual General Meeting along with one third of the elected trustees. Retiring trustees are
eligible for reappointment by the membership.
The trustees (being directors of the company for the purposes of company lawl are all volunteers from the
Bridport area community. The trustees have reviewed the structure and governance of the Trust and have
concluded that their future role should mainly, but not exclusively, be to enable various community groups
and individuals to establish and run projects that bring social and economic benefits to Bridport and the local
area. These new projects would be measured against the Trust's aims and objettives and need to
demonstrate sustainability.
Where applicable, new trustee5 are invited to meet key members of staff and volunteers. They are also
briefed on their legal obligations under charity and company law, the contents of the Memorandum and
Articles of Association, recent financial performance and the future financial and objective plan5 of the
charity.
The BADT is a memberof Locality, the national association for development trusts. It is also constituted to act
as a Buildings Preservation Trust, and is a member of the UK Association of Preservation Trusts.
Statement of Trustees, Responsibilities
The Trustees are required under Charity law to prepare financial statements for each financial year which give
a true and fair view of the state of affairs of the Charity and of the financial activities of the Charity for that
period. In preparing those financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP",
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any
material departures disc105ed and explained in the financial statements: and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the company will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
at any time the financial position of the Charity and to enable them to ensu re that the financial staternents
comply with applicable laws and regulations. They are also responsible for ensuring that the Charity maintains
an adequate system of internal control designed to provide reasonable assurance that asset5 are safeguarded
again5t1055 or unauthorised use and to prevent and detert fraud and other irregularities.
In preparing this report. the Trustees have taken advantage of the small companies exemptions provided by
Section 415A of the Companies Act 2006.
On behalf of the board:
P Culpin- Chair
Date:

BRIDPORT AREA DEVELOPMENT TRUST
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
I report to the charity trustees on my examination of the accounts of the company for the year ended 31
March 2024, which are set out on pages 7 to 18.
Responsibilities and basis of report
As the charity trustees of the company {and also its directors for the purposes of company lawl you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act
20061'the 2006 Att'l.
Having satisfied myself thatthe accounts of the company are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination, I report in respect of my examination of your
company's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'l, In carrying
out my examination I have followed the Directions given by the Charity Commission under section 145(51 {bl
of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with
the examination giving me cause to believe that in any material respect:
Accounting records were not kept in respect of the company as ￿qUired by section 386 of the 2006
Act; or
The accounts do not accord with those records; or
The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a 'true and fairview, which is not a matter considered as
part of an independent examination,. or
The accounts have not been prepared in accordance with the methods and principles of the Statement
of Recommended practi￿ for accounting and reporting by charities lapplicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland IFRS 1021].
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the account5 to be
reached.
Marcus Cridland B.A.IHonsl F.C.A.
Scott Vevers Ltd.
Chartered Accountants and Registered Auditors
65 East Street
Bridport
Dorset
DT63LB
Date:

BRIDPORT AREA DEVELOPMENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
2024
Total
2023
Total
Unrestricted
Restricted
funds
funds
Endowment
funds
funds
Notes
INCOME
Income and endowments from:
Donations and grants
Other income including
trading income
21,162
21,162
75,868
73,627
73,627
61,878
Investment income
2.160
2,160
952
Total incoming resources
75,787
21,162
96,949
138,698
EXPENDITURE ON:
Raising funds
44,517
44,517
33,061
Charitable activities
4,595
49.698
54,293
97,136
Total expenditure
49,112
49,698
98,810
130,197
Net income/lexpenditure}
before transfers
26,675
128,5361
11,861)
8,501
Transfers between funds
14
(25,175)
24,515
660
Net Movement In Funds for
the year
1,500
{4,0211
660
11,861)
8,501
Total Funds:
Brought Forward
14
6.182
156,820
2,750,679
2,913,681
2,905,180
Carried Forward
14
7.682
152,799
2,751.339
2.911,820
2,913,681
All incoming resources and resources expended derive from continuing artivities.
The note5 on pages 9 to 18 form an integral part of these financial statements.

BRIDPORT AREA DEVELOPMENTTRUST
BALANCE SHEET AT 31 MARCH 2024
CoTHpany Registration No. 06864923
2024
2023
Notes
Fixed Assets
Tangible assets
Heritage assets
21,082
2,751,339
26,901
2,750,679
io
2,772,421
2,777,580
Current assets
Debtors
Cash at bank and in hand
li
11,385
175,361
186,746
6,823
182,358
189.181
Creditor5: Amounts falling due within one
year
12
(15,6071
{17,600)
Net current assets
171,139
171,581
Total assets less current liabilities
2,943,560
2.949,161
Creditors: Amounts falling due after more
than one year
Net asset5
13
131,740)
2,911,820
(35,4801
2,913.681
The funds of the charity:
Restricted Funds
14
152,799
156,820
Endowment
2,751.339
2,750,679
Unrestricted funds
7,682
6,182
Total charity funds
2,911,820
2,913,681
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 March 2024.
The members have not required the company to obtain an audit of it5 financial statements for the year ended 31
March 2024 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirement5 of the Act with respect to
accounting records and the preparation of accounts:
These accounts have been prepared in accordance with the provisions applicable to Small companie5 regime
within Part 15 of the Companie5 Act and in accordance with FRS102 SORP.
The financial statements were approved by the Board of Trustee5 on
L*l.?.l.LF-........ and signed on its behalf
by:
P Culpin
Chair
The note5 on pages 9 to 18 form an integral part of these financial statements.

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
Bridport Area Development Trust is a company, limited by guarantee, incorporated in England and Wales
under the Companies Act 2006 and Charities Att 2011. Each of the members is liable to contribute an
amount not exceeding £10 toward5 the assets of the charity in the event of liquidation. The address of the
registered office is provided in Reference and Administrative Details. Details of the charity's operation5 are
provided in the Report of the Trustees.
Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial statements are as follow5:
a. Statement of compllance and basis of preparation
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared
under the historical cost convention and in accordance with the Charities SORP IFRS 102), the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006.
The accounts include the results of the charity's operations which are described in the Trustees, Report, all
of which are continuing. Advantage has been taken of the exemption under FRS 102 IA for smaller
charitie5 not to prepare a statement of cash flows.
b. Accounting convention
The financial statements have been prepared on a going concern basis as the trustees believe that no
material uncertainties exist. The trustees have considered the level of f unds held and the expected level of
income and expenditure for 12 months from authori5ing these financial statements. The budgeted income
and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going
concern.
c. Income and endowments
All incoming resources are included in the Statement of financial activities when the company has
entitlement to the funds, certainty of receipt and the amount can be quantified with reasonable accuracy.
Donated assets and services are included at their estimated open market valuation. No income is
recognised where there is no financial cost borne by a third party.
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the
grants have been met. Where performance conditions are attached to the grant and are yet to be met,
the income is recognised as a liability and included on the balance sheet as deferred income to be
released.
d. Classification of expenditure
All expenditure 15 recognised once there is a legal or constructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated to the
applicable expenditure heading that aggregate similar c05tS to that category. Where costs cannot be
direttly attributed to particular headings they have been allocated on a basi5 consistent with the use of
resources, with central staff cost allocated on the basis of time spent, and depreciation charges allocated
on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.
Choritoble octivitie5
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activitie5 and
services for its beneficiaries. It includes both costs that can be allocated directly to such activities and
those costs of an indirect nature nece55ary to support them.

BRIDPORT AREA DEVELOPMENTTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
Heritage assets
Properties are stated at cost. Cost includes the cost of acquiring land and buildings, development,
restoration and project management costs incurred during the development period and expenditure
incurred in respect of improvements. A register of all heritage assets held by the Trust is available and the
assets themselves will be accessible to the public on completion of development work.
Freehold land is not depreciated. No depreciation of buildings will be charged on completion of
restoration and development work as it is intended that properties will have an indefinite life and will be
fully maintained.
f. Tangible fixed assets
Tangible fixed assets costing more than £100 are capitalised at cost.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset
over its expected useful life, a5 follows:
Fixtures and fittings
Computer equipment
g. Flxed asset investment
Fixed asset investments, other than programme related investments, are included at market value at the
balance sheet date. Realised gains and losses on investments are calculated as the difference between
sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or
credited to the Statement of Financial Activities in the period of disposal.
Unreali5ed gains and losses represent the movement in market values during the year and are credited or
charged to the Statement of Financial Activities based on the market value at the year end.
h. Cash and cash
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk
of change in value.
Fund structure
Unrestricted income fund5 are general funds that are available for use at the trustees, discretion in
furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of
which is restricted to that area or purpose.
Endowment funds are restricted capital funds which represent the heritage assets of the charity.
Capitalised development costs are transferred from restrirted funds to endowment.
j. Pensions
The charity operates a defined contribution pension scheme which is a pension plan under which fixed
contributions are paid into a pension fund and the charity has no legal of constructive obligation to pay
Contributions are charged to the Statement of Financial Activities as they become payable in accordance
with the rules of the scheme.
10 years straight line
3 years straight line
io

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued
k. Financial instruments
Classification
Financial assets and financial liabilities are recogni5ed when the charity becomes a party to the contractual
provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangement entered into. An equity instrument is any contract that evidences a residual interest in the
a55ets of the charity after deducting all of its liabilitie5.
Recognition Grnd measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs),
except for those financial assets classified as at fair value through profit or loss, which are initially
measured at fair value (which is normally the transaction price excluding transaction costs}, unless the
arrangement constitutes a financing transactions, If an arrangement constitutes a financing tra nsaction,
the financial asset or financial liability is measured at the present value of the future payments discounted
at a market rate of interest for similar debt instruments.
Financial assets and liabilities are only offset in the statement of financial position when, and only when
there exists a legally enforceable right to set off the recognised amounts and the charity intends either to
settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the
financial asset expire or are settled, bl the charity transfers to another party substantially all of the risks
and rewards of ownership of the financial asset, or cl the charity, despite having retained some, but not all,
significant risks and rewards of ownershipi has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
cancelled or expires.
Donations and grants
Unrestricted funds
2024
2023
Restricted funds
2024
2023
Total
2024
2023
Grants
Donations
11,625
9,537
21,162
65,069
10.799
75,868
11,625
9,537
21,162
65,069
10,799
75,868
Other income including trading income
Unrestricted funds
2024
2023
Restricted funds
2024
2023
Total
2024
2023
Rental and events
income
Merchandise sales
Other income
54.081
42,033
54,081
42,033
19,484
62
73,627
19,359
486
61,878
19,484
62
73.627
19,359
486
61,878
li

BRIDPORT AREA DEVELOPMENTTRUST
NOTE5 TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on raising funds
Unrestricted funds
2024
2023
Restrlcted funds
2024
2023
Total
2024
2023
Promotion and
advertising
Utilities
Telephone
Cleaning and refuse
Legal and professional
fees
Bank charges
13,329
10,768
13,329
10,768
13,670
5,284
9,737
7,247
4,478
8,137
13,670
5,284
9,737
7,247
4,478
8,137
2,200
2,200
2,200
2,200
297
44.517
231
33,061
297
44,517
231
33,061
Expenditure on charitable activities
Unrestricted funds
2024
2023
Restricted funds
2024
2023
Total
2024
2023
Staff costs
Direct costs
Support costs
Governance costs
3,501
40,528
2,859
2,810
49,698
14,429
74,467
1,737
2,070
92,703
3,501
40,980
3,837
5,975
54,293
14,429
74,568
2,783
5,356
97,136
452
978
3,165
4,595
ioi
1,046
3.286
4,433
Staff costs
Salaries and employers
pension
Staff training
Travel
2,505
13,934
2,505
13,934
500
496
3,501
500
496
3,501
495
14,429
495
14,429
Direct costs
Project costs
Building insurance
Utilities
Cleaning and refuse
Promotion and
advertlsing
Depreciation
Legal and professional
fees
21.323
6,796
800
64
52.842
6,287
636
47
21,323
6,796
800
64
52,842
6,287
636
47
417
66
2,226
1.590
2,643
1,656
5,819
6.123
5,819
6,123
35
35
3,500
6,942
3,535
6,977
452
ioi
40.528
74.467
40,980
74,568
12

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on charitable activities {continued)
Unrestricted funds
2024
2023
Restricted funds
2024
2023
Total
2024
2023
Support costs
Tru5tees' indemnity
insurance
Telephone
Printing, postage and
stationery
Sundry expenses
Bank charges
570
572
570
572
353
257
353
257
1,369
1,272
1,369
1,272
25
449
1.046
1,137
208
1,137
408
3,837
233
449
2,783
408
978
2,859
1,737
Governance costs
Accountancy services
3,165
3,165
3,286
3,286
2,810
2,810
2,070
2,070
5,975
5,975
5,356
5,356
Staff costs
No remuneration or expenses were paid to trustees in the year12023: £nill. The costs of the remaining
staff were:
2024
2023
Wages and salaries
Pension costs
2.308
197
2,505
13,725
209
13,934
No employee earned more than £60,000 during the year.
The number of staff employed by the charity during the year was as follows:
2024
2023
No.
Average number of employees, per head count
Net income / (expenditure) for the year
This is stated after charging:
2024
2023
Depreciation of tangible fixed a55ets
Independent examiner's remuneration
5,819
2,695
6,123
2,825
13

BRIDPORT AREA DEVELOPMENTTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Tangible fixed assets
Furniture &
equipment Computer
equipment
Total
C05t or valuation
As at l April 2023
Disp05als
As at 31 March 2024
55,533
(2,3821
53,151
21,948
77,481
{2,382}
75,099
21,948
Depreciation
As at l April 2023
Charge for the year
Eliminated on disposals
As at 31 March 2024
28,632
5,819
12,3821
32,069
21,948
50,580
5,819
12,3821
54,017
21,948
Net bookvalue
As at 31 March 2024
21,082
21,082
As at 31 March 2023
26,901
26,901
10 Heritage assets
West Bay Literary &
Methodist
Scientific
Chapel
Institute
Total
Cost orvaluation
As at l April 2023
Additions
As at 31 March 2024
148,731 2,601,948
660
148,731 2,602,608
2,750.679
660
2,751,339
Depreciation
As at l April 2023
As at 31 March 2024
Net bookvalue
As at 31 March 2024
148,731 2,602,608
2.751.339
As at 31 March 2023
148,731
2,601.948
2,750,679
Heritage assets have been capitalised at C05t in the balance sheet as development proceeds. The Literary
& Scientific Institute is Subject to a charge over the building held by the Heritage Lottery Fund, following
the funding they provided towards its renovations.
14

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
li
Debtor5
2024
2023
Debtors and prepayments
VAT recoverable
Other debtors
2,223
219
8,943
11,385
3,981
2,689
IS3
6,823
12
Creditors: Amounts falling due within one year
2024
2023
Other loans
Other creditors
Accruals
3,740
5,734
6,133
15,607
3,740
5,202
8,658
17,600
13
Creditors.. Amounts falling due after one year
2024
2023
Other loans
Other creditors
22.440
9,300
31,740
26,180
9,300
35,480
Included in the creditors are the following amounts due after more than five years:
2024
2023
After more than five years by instalment
7,480
11.220
15

BRIDPORT AREA DEVELOPMENTTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14
Fund5
Incoming
01.04.2023 resources
Resources
expended
Transfers
31.03.2024
Restricted fund5
The Bridport Literary
and Scientific Institute
The West Bay
Methodist Chapel
87,435
6,570
136,6741
18,879
76,210
69,385
14,592
113.0241
5,636
76,589
156,820
21,162
149,698}
24.515
152,799
Endowment funds
Expendable
2,750,679
2,750,679
660 2,751,339
660
2.751,339
General Funds
Unrestricted
6,182
6,182
75.787
75,787
(49,1121
149,1121
125,1751
{25,175)
7,682
7,682
Total
2,913,681
96,949
198,8101
2,911,820
Incoming
resources
Resources
expended Tmnsfers
2023
01.04.2022
31.03.2023
Restrictedfunds
The Bridport Literary
and Scientif ic Institute
The West Bt7y
Methodist Chopel
87,612
54,701
(68,610)
13.732
87,435
64,161
21,167
(24,093)
8,150
69,385
151. 773
75.868
(92, 703)
21.882
156,820
Endowmentfunds
Expendoble
2, 750,679
2, 750,679
2, 750,679
2, 750,679
Generol Funds
Unrestricted
2.728
2,728
62,830
62,830
(37,494)
(37,494)
(21,882)
(21,882)
6,182
6,182
Total
2,905.180
138,698
(130,197J
2,913,681
16

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14
Funds Icontinued)
Restricted Funds
Restricted funds arise when funding is given for a specific purpose or project..
The Bridport Literary and Scientific Institute ILSI) fund originally represented grants and donations from
various sources to restore and develop the building, with capitali5ed development costs transferred to
endowment funds. It now represents funds restricted by the trustees to support ongoing operations at
that location.
The West Bay Methodist Chapel fund originally represented grants and donations from various sources to
restore and develop the building. with capitalised development costs similarly transferred to e ndowment
funds. It now represents funds restricted by the trustees to support ongoing operations at that location.
Endowment fund5
Heritage assets are capitalised assets held for conservation and preservation purposes and are therefore
shown as an expendable endowment. Transfers are made from restricted funds to the endowment funds
representing development costs capitalised.
The trustees are confident that sufficient reserves are held to enable each fund to be applied in accordance
with any restrictions,
15
Analysis of fund balances between net assets
Unrestricted Restricted Endowment
funds
funds
funds
Total
Tangible fixed assets
Heritage assets
Current assets
Current liabi lities
Creditors over l year
21,082
21,082
2,751,339
186,746
115,607)
131.740)
2,751,339
33.862
13,740)
122,440)
152,884
{11,8671
19,3001
Total funds
7,682
152,799 2,751,339
2,911,820
2023
Tangiblefixed assets
Heritage (JSsetS
Current assets
Current liabilities
Creditor5 over l year
26,901
26,901
2, 750,679
189,181
{17,600J
(35.480)
2,750,679
36,102
(3,740)
(26,180)
153,079
(13,860)
(9,300)
Totalfunds
6.182
156.820 2, 750,679
2,913,681
17

BRIDPORT AREA DEVELOPMENTTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16
Financial Instruments
2024
2023
Categorisation of financial instruments..
Financial assets that are debt instrument measured at amortised cost
184,523
185,200
Financial liabilities measured at amortised cost
Loan commitments measured at cost less impairment
21,167
26,180
47,347
23,160
29.920
53,080
Items of income, expense, gains or losses
The total interest income for financial assets not measured at fair value through profit or10s5 is £2,160
12023: £952}.
17 Penslon commitments
The charity operates a defined contribution scheme for certain employees. The assets of the scheme are
administered by trustees in a fund independent from those of the charity. The pension cost charge for the
year represents contributions payable by the charity to the scheme and amounted to £19712023: £2091.
18 Related party transactions
There were no related party transactions during the year.
18