Company Registered No. 06864923
Charity Registered No. 1137231
BRIDPORT AREA DEVEIOPMENT TRUST
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

BRIDPORT AREA DEVELOPMENT TRUST
CONTENTS OF THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2025
Charity Information
Report of the Trustees
Report of the Independent Examiner
Statement of Financial Artivities
Balance Sheet
Notes to the Financial Statements
8-15

BRIDPORT AREA DEVELOPMENTTRusr
CHARITY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEES:
l Bark
J Bourbon Iresigned 22 September 20241.
M Collard
A Cook
P CLslpin (resigned 10 December 2024}
J Fisher (resigned 16 July 20241
l Johnson (appointed 10 December 20241
DLee
M Wakar
J West
J Bourbon remains as an observer on behalf of
Bridport Town Council
REGISTERED OFFICE:
51 East Street
Bridport
Dorset
DT6 3JX
REGISTERED COMPANY NUMBER:
06864923
REGISTERED CHAR￿1 NUMBER:
1137231
BANKERS:
TSB Bank plc
9 West Street
Bridport
Dorset
DT6 3QL
INDEPENDENT EXAMINER:
Marcus Cridland B.A.IHons} F.C.A.
Scott Vevers Ltd.
Chartered Accountants
and Registered Auditors
65 East Street
Bridport
Dorset
DT6 3LB

BRIDPORT AREA DEVELOPMENT TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees, who are also Direttors for the purposes of the Companies Act, present their report and the
accounts of the Bridport Area Development Trust Ithe Trust) for the year ended 31 March 2025.
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 UK and Republic of Ireland {FRS 1021.
Objertives and artivities
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 wa5 set up with
the aim of delivering community projects in Bridport and the surrounding area of West Dorset, with a
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.
Achlevements and performance
The Trust has acquired, restored and repurposed two historic buildings, the Literary and Scientific Institute
ILSil in Bridport, a Grade I l* listed building, now with a mixture of commercial office space and community
use, and West Bay Discovery Centre IWBDCI, a former Grade11 listed Methodist church in neighbouring West
8ay, which was transformed into a visitor attraction providing information about the history and environment
that made West Bay what it is today.
The restoration of the West Bay Discovery Centre IWBDCI was completed by the Trust in 2018, supported by
grants from the Coastal Communities Fund, Bridport Town Council and other local foundations. A multiple
ward winner, the Centre has welcomed well in excess of 100,000 visitors and regularly ranks among the top
10 f ree attractions i n southwest England. In October 2024 ownership of the building was transferred to
another charity, the Bridport Communities Trust IBCTI, which was set up by Bridport Town Council to own
and to manage the WBDC.
The Literary and Scientific Institute reopened its doors to the publ ic in 2018 and became a cultural. social and
business hub that was an asset to the town. However, this innovative charitable/commercial partnership has
also faced significant challenges in the aftermath of the Covid-19 pandemic which had a dramatic impact on
its commercial social and cultural activities. More frequent severe weather has also exposed and exacer-
bated weaknesses in the 200-year-old building which requires regular maintenance and some further signif-
icant repair work. Trustees and users of the building have worked together to minimise any disturbance from
repairs.
In October 2024 a major flood resulting from a blockage in the drainage system on the roof caused damage
to the ceilings in two floors and resulted in some tenants having to move out of their normal work areas.
Initially the insurers declined to accept responsibility but have since agreed to fund repair work. However,
this initial refusal caused delay to the repairs.
As tho LSI is a Grade Il* building, in February 2025 the Trust appointed the Beaminster based architects
RRABC to oversee repair work. Until the work 15 completed no new long-term leases have been granted and
current users are operating on short-term licenses. Normal day to day management of the building is carried

BRIDPORT AREA DEVELOPMENT TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
out by the property management arm of local estate agent Symonds and Sampson.
The income earned by the Lsi is significantly afferted by the re5trittion5 on its use, exacerbating by the
relocation in 2024 of Gillingham's Financial Adviser5, who occupied the upper floors.
While in normal circumstances the Lsi is funded mainly by tenants, it also benefit5 from a generous grant
from Bridport Town Council. This support IS set out in a Service Level Agreement.
In November 2024 Chair Phyllida Culpin stepped down at the AGM after having led the Trust Since 2020. Until
a new Chair is appointed the seven-strong board of trustees shares the responsibilities.
Financial Review
The Statement of Financial Artivities shows 3 deficit on unrestricted funds, after transfers, of £1,69612024:
surplus of £1,500).
Restricted funds saw a total deficit of £102,090 in the year12024.. £4,021). Included in this reduction was the
fund transfer of £80,000 to The Bridport Town Council for the West Bay Discovery Centre. The year's
unrestricted SLsrpluses attributable to attivities at the two centres- LSI and West Bay Discovery Centre- were
transferred into their respective operational restricted funds, in li ne wlth the Board's decision of December
2018.
At the year end, the total funds held by the Charity were £2,662,77812024: £2.911,8201. This included
restricted funds of £50,70912024'. £152,799) and endowment funds of £2,606,08312024.' £2.751,3391.
Reserves Pollcy
The Trust's reserves policy is to hold reserves 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
operational restricted funds totalled £56,695 {2024'. £160,481),. one year's operating costs would normallv
not exceed £90,000.
In light of the various recent uncertainties, the trustees will keep this policy under regular review. The high
level of reserves is considered desirable given the historic nature of the Trust's building and the propensity of
the LSI to require frequent unplanned maintenance to the building and plant.
Strurture. Governance ond Management
The Trust is a charitable company limited by guarantee and governed by a memorandum and articles of
association dated 20 March 2009 as amended byspecial resolutionlsl dated 22 September 2017. Membership
of the Trust is open to local community groups, organisations, businesses and individuals. The Trust has over
50 members who elert the trustees and directors at the Annual General Meeting.
The Board carries out a skills 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 Importan￿ of our partnership with the Council. The Trust looks to
achieve diver51ty in terms of skill and other characteristics.
The minimum number oftrustees is three, with no maximum. Trustees are appointed by a general resolution

BRIDPORT AREA DEVELOPMENTTRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
of the members or by the existing trustees. Any trustee appointed by the 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 law) are all volunteers from the
Bridport area community. The trustees have reviewed the structure and governance of the Trust and have
concluded that their futu re role should mainly, but not exclusively, be to enable va rious 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 objectives and need to
demonstrate sustainability.
Where applicable, new trustees 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 plans of the
charitv.
The Trust is a member of Locallty, the national assoclatlon for development trusts. It is also constituted to act
as a Buildings Preservatlon Trust and is a member of the UK Association of Preservation Trusts.
Statement of Trustees, Responslblllties
The trustees are required under Charity law to prepare financlal 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 preparlng those financial statements, the trustees are required to:
select sultable 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 disclosed and explained in the financlal statements; and
prepare the financial Statements on the goin8 concern basis unle55 It Is inapproprlate 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 ensure that the financial statements
comply with applicable laws and regulations. They are also responsible for ensuring that the Charity maintalns
an adequate system of internal control designed to provide reasonable assurance that assets are safeguarded
against loss or unauthorised use and to prevent and detect 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:
l Johnson- Treasurer and Trustee
Date: ..£.l.8..l.Is-............

8RIDPORT AREA DEVELOPMENTTRUST
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
I report to the charity trustees on my examination of the accounts of the company for the year ended 31
March 2025, which are set out on pages 6 to 15.
Responsibilities and basis of report
As the charity trustees of the company (and also its direttors for the purposes of company lawl you are
responsible for the preparation of the accounts in accordance with the requirement5 of the Companies Act
20061'the 2006 Act'l.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examlnation, I report in respect of my examination of your
company's accounts as carrled out under section 145 of the Charities Act 2011 {'the 2011 Att,). In carrying
out my examination I have followed the Directions given by the Charity Comm ission under section 14515) Ibl
of the 2011 Act.
Independent examlner's statement
I have completed my examination. I confirm that no matters have corne to my attention in connectlon with
the examination giving me cause to believe that In any material respect:
Accountlng records were not kept in respect of the company as requlred 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 fair view, 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 Prattice for accounting and reporting by charities [applicable to charities preparing
their accounts in accordance with the Financial Reportin8 Standard applicable in the U K and Republic
of Ireland IFRS 10211.
I have no concerns and have come across no other matters in connectlon with the examlnation to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Marcus Cridland B.A.{Honsl 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 2025
2025
Total
funds
2024
Total
Unrestricted Restricted
funds
funds
Endowment
nds
Notes
INCOME
Income and endowments from:
Donations and grants
Other income including
trading income
21,342
21,342
21,162
55,840
55,840
73,627
Investment income
1.782
1,782
2,160
Total Incoming resources
57,622
21,342
78,964
96,949
EXPENDITURE ON:
Raising funds
39,403
39,403
44,517
Charitable activities
5,388
134,484
148,731
288,603
54,293
Total expenditure
44,791
134,484
148,731
328,006
98,810
Net incomellexpenditurel
before transfers
12,831
{113,1421
1148,7311 1249,0421
11,8611
Transfers between funds
14
114,5271
11,052
3,475
Net Movement In Funds for
the year
11,6961 1102,0901
1145,2561 1249,0421
11,8611
Total Funds..
Brought Forward
14
7,682
152,799
2,751,339
2,911.820
2,913.681
Carried Forward
14
5,986
50,709
2,606,083
2,662,778
2,911,820
All incoming resources and resources expended derive from continuing activitie5.
The note5 on pages 8 to 15 form an integral part of these financi31 statement5.

BRIDPORT AREA DEVELOPMENT TRUST
BALANCE SHEET AT 31 MARCH 2025
Company Registration No. 06864923
2025
2024
Fixed Assets
Tangible assets
Heritage assets
Notes
15,263
2,606,083
2,621.346
io
21.082
2,751.339
2.772,421
Current assets
Debtors
Cash at bank and in hand
li
8,380
74,112
82,492
11,385
175,361
186,746
Creditors.. Amounts falling due withln one
vear
12
(12,6201
115,607}
Net current assets
Total assets less current Ilablllties
Creditors.. Amounts falling due after more
than one year
Net assets
69,872
171,139
2,691,218
2,943,560
13
128,4401
2,662,778
131,7401
2,911,820
The funds of the charity..
Restrlcted Funds
14
50,709
Endowment
152,799
2,606,083
Unrestricted funds
Total charlty funds
2,751,339
5,986
7,682
2,662,778
2,911,820
The company is entitled to exemption from audit under Section 477 of the Companie5 Act 2006 for the year
ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31
March 2025 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act wlth respect to
accounting records and the preparation of accounts:
These accounts have been prepared in accordance with the provisions applicable to small companies regime
within Part 15 of the Companies Act and in accordance with FRS102 SORP.
The financial statements were approved by the Board of Trustees on
by..
and signed on its behalf
l Johnson- Treasurer and Trustee
The note5 on pages 8 to 15 form an integral part of these financial statements.

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE Y&4R ENDED31 MARCH 2025
General information
Bridport Area Development Trust 15 a company, limited by guarantee. incorporated in England and Wales under the Companies
Act 2006 and Charities Act 2011. Each of the member5 is liable to contribute an amount not exceedin8 EIO tOW3rds the assets of
the chaTity in the event of liquidation. The address of the re8lStered office is provided in Reference and Administrative Details.
Details of the charity's operations are provided in the Report of the Trustees.
Accounting policies
The principal accounting policie5 adopted. judgements and key sources of estimatlon uncertainty in the preparation of the
financial ststements are as follows..
a. Statement of compliance and ba515 of preparation
The charity constitutes a publit benefit entity as defined by FRS 102. The fittancial statement5 are prepared under the historical
cost convention and in accordance with the Charities SORP IFRS 1021. the Financial Reporting Standard applicable in the UK and
Republic ol Ireland IFRS 1021 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 charitlÈs not to prepare a statement of cash flows.
b. Accountlng conventlon
The financial statements have been prepared on a golng concern basis as the trustees believe that no rnaterial uncertainties exist.
The trustees have consldered the level of funds held and the expected level of Income and expendlture for 12 months from
authorising these financial statements. The budgeted income and expenditure 15 sufficient with the level of reserves lor the
charity to be able to continue as a golng concern.
c. Income and endowment5
All incomlng resourcés are included in thè Statement of financial actlvltles when the company has entitlement to the funds.
certainty of receipt 3nd the amount can be quantlfièd with reasonable accuracv.
Donated assets and services are included at their estimated open market valuatSon. No Income is recognised where there 15 no
flnancial cost borne by a third party.
Grants are recognised when the charity has an entStlement to the funds and any conditions Ilnked to the grants have been met.
Where performance conditions are attached to the grant and are yet to be met. the income 15 recognised as a liability and
included on the balance Sheet a5 deferred Income to be released.
d. Classlficatlon of expenditure
All expenditure is recognised onee there is a le8al or constructive obligation to that expenditure, it Is probable sèttlement is
required and the amourst can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate
similar costs to that category. Where cost5 cannot be dlrectly attributed to particular headings they have been allocated on a
basis conslstent with the use of resources. with central staff cost allocated on the basis of tlme spent, and depre¢iation charges
allocated on the portion of the assèt's use. Other support costs are allocated based on the spread of staff Costs.
Charitrjble uctivities
Charitable expenditure comprises those costs incurred by the tharity in the delivery of its actlvlties and servSces for Its
beneficiaries. It includes both costs that can be allocated dirertly to such activities and those costs of an indirect nature necessary
to support them.
Heritsge assets
Properties are stated at cost. Cost Includes the cost of acquiring land and bulldlngs, development, restoratlon and project
managernent costs incurred during the development period and expendlture Incurred in respect of improvernent5. A re8lSter of
all herltage assèts held by the Trust is available and the assets themselves will be accessible to the public on completion of
development work.
Freehold land 15 nat depreciated. No depreci3tion of buildings will be char8ed 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 C05ting more than £100 are capitalised at cost.
Depreci3tion is provided at rate5 calculated to write off the cost less estimated fesidual value of each asset over Its expected
useful life, as follows:
Fixtures and fittings
Computer equipment
10 yebTS Straight line
3 years straight line

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountin8 policies Icontinuedl
g. Cash and cash
Cash 3nd cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are
readily convertible to a knowll Bmount of cash and are subject to an insignificant risk of change in value.
h. Fund Structure
Unrestricted income fund5 are general funds that are available for use at the trustees, discretion in furtherance of the objectives
of the charitv.
Restricted income funds are those donated for use in a partiCLElar area or for specific purposes, the use of which is restrirted to
that area or purpose.
Endowment funds are restricted capitsl funds which represent the heritage assets of the charity. Capitalised development costs
are transferred from restricted funds to endowment.
Penslons
The charity operates 3 defined contribution pension scheme which 15 a pension plan under whlch fixed contributions are paid into
a pension fund and the charity has no le8al of construrtive obligation to pay further contributions even if the fund does not hold
sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions are charged to the Statement of Financial Activitie5 as they become payable in accordance with the rules of the
scheme.
j. FiNanclal Instruments
Clossiflcotion
Financial assets and financial 1Sabilities are rectsgnised when the charity becomes a party to the cr)ntractual provisions of the
instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arran8ement entered into.
An equity instrument is any contract that evldences a residual interest in the assets of the charity after deductlng all of its
Recognition orjd meosurement
All financial assets and liabllltles are initS3lly Measured at transaction price Ilncluding transaction costs). except for those financial
assets classified as at fair value through profit or loss. which are initially measured at fair value Iwhich is normally the transaction
price excluding transaction costs), unless the arrangement constitutes a financSn8 transactions. If an arrangement constitutes
financing transaction. 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.
Financlal assets and liabilities are only offset in the statement of financial position when. and Only when there exists a legallv
enforceable ri6ht to set off the recognised amounts and the charity intend5 either to settle on a net basis, or to realise the asset
and settle the liability simultaneously.
Financtal a55ets are derecognised when and only when al the rontractual rlghts 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 a55et,
or cl the charity, despite having retained some, but not all, significant risks and rewards of ownershlp, has transferred control of
the asset to another partv.
Financlal liabilities are derecognised only when the obligation specified in the contract is dls¢har8ed, cancelled or expires.

BRIDPORT AREA DEVELOPMENTTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Donations and grants
Unrestricted funds
2025
2024
Restricted funds
2025
Z024
Total
2025
2024
Grants
Donations
11,500
9,842
21,342
11.625
9,537
21,162
11,500
9.842
21.342
11,625
9,537
21,162
Other Incorne intluding trading Intome
Unrestricted funds
2025
2024
Restrirted fund5
2025
2024
Total
2025
Z024
Rental and events income
Merchandise sales
Other income
42,136
13.704
54,081
19,484
62
73,627
42,136
13.704
54,081
19,484
62
73,627
55,840
55,840
Expendlture on ra15in8 fund5
Unre5trfcted funds
2025
2024
Re5trlcted fund5
2025
2024
Total
2025
2024
Promotion and advertlsln
6,352
16,871
4,970
10,593
396
221
39,403
13,329
13,670
S,284
9,737
2,200
297
44.517
6,352
16.871
4,970
10,593
396
221
39.403
13,329
13,670
5,284
9.737
2,200
297
44.517
Telephone
Cleaning and refuse
Legal and professlonal fees
Bank charges
io

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Expendbture on charitable actTrvities
Endowment
20Z5
2024
Unre5tTirted funds
2025
2024
Restrirted funds
2025
2024
Total
2025
2024
Staff costs
Direct costs
Support costs
Governance costs
7.591
122,456
1.317
3.120
134,484
3,501
40,528
2,859
2,810
49,698
7.591
272.994
2.646
5,372
288,603
3,501
40,980
3,837
5.975
54,293
148,731
1,807
1,329
2,252
5,388
452
978
3,165
4,595
148,731
Staff costs
Salaries and
employers penslon
Staff training
Travel
7.189
2,505
7,189
2,505
500
496
3,501
500
496
3.501
402
402
7.591
7,591
Olrert costs
Project cost5
Transfer to Bridport
Town Council
Donations
Building insurance
26,519
21,323
26.519
21,323
80,000
80,000
I,oDo
1,000
8,382
324
30
8,382
324
30
6.796
800
64
6.796
800
64
Cleanlng and refuse
Promotion and
advertising
Depreciation
Loss on asset
transfer of West Bay
Methodist Chapèl
Legal and
professional fees
772
417
1,382
2,226
2,154
2,643
5,819
5,819
5,819
5,819
148,731
148,731
35
35
3,500
35
3,535
148,731
1,807
452
122,456
40,528
272,994
40,980
Support costs
Trustees, indemnlty
Insurance
Telephone
Printlng, postage and
stationery
Sundry expenses
Bank charges
456
570
456
570
358
353
358
353
726
1,369
726
1,369
526
347
1,329
233
1.137
759
347
2,646
1,137
408
3.837
408
978
1,317
2,859
Govemance costs
Accountancy 5eTvices
2,252
2,252
3,165
3,165
3.120
3,120
2,810
2.810
5,372
5,372
5.975
5,975
li

BRIDPQRT AREA DEVELOPMENTTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Staff costs
No remuneration or expense5 were paid to trustees in the year12024'. £nill. The costs of the remaining staff were..
2025
2024
Wage5 and salaries
Social security costs
Pension costs
7.055
2,308
134
7,189
197
2,505
No employee earned more than £60,000 durin8 the year.
The number of staff employed by the charity during the year was as follows..
2025
No.
2024
No.
Average number of employees, per head count
Net income / lexpendlturel for the year
This 15 Stated after charging..
2025
2024
Depreciation of tan8ible fixed assets
Loss on disposal of tangible assets
Independent examiner's remuneration
5.819
148,731
1,690
5,819
2,695
Tanglble fixed awts
Furnlture & Computer
equlpment equlpment
Total
Cost or valuation
As at l April 2024
As at 31 March 2025
53,151
53,151
21,948
21,948
75,099
75,099
Depre¢latlon
As at l April 2024
Charge for the year
As at 31 March 2025
32.069
5.819
37,888
21,948
54,017
5,819
59,836
21,948
Net book value
As at 31 March 2025
15,263
15.263
As at 31 March 2024
21.082
21.082
12

BRIDPORT AREA DEVELOPMENTTRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
io
Heritage assets
West Bay Literary &
Methodist
Stièntific
Chapel
Institute
Total
Cost or valuatlon
As at l April 2024
Additions
D&sposals
As at 31 March 2025
148,731
2,602.608
3.475
2,751,339
3,475
1148,7311
2,606.083
1148,7311
2,606,083
Oepreclatlon
As at l April 2024
As at 31 March 2025
Net book value
As at 31 Mèrch 2025
2,606 083
2,606.083
As at 31 March 2024
148.731 2,602.608
2,751,339
Heritage 355ets have been capitalised at C05t in the balance sheet 35 development proceed5. The Literary & Stientrfic Institute 15
subject to a charge over the building held by the Heritage Lottery Fund. following the fundln8 they provided towards it5
renovations.
Five year summary of additions and dlsposals..
2025
2024
2023
2022
2021
Oevelopment Costs capitslised
Assets held at cost
Total addition5
3,475
3,475
660
660
2,666
2,666
Net Book Value Disposals
Assets held at cost
Total NBV disposals
148,731
148,731
li
Debtors
2025
2024
Debtors and prepayments
VAT recoverable
Othèr dèbtors
5,563
2,223
219
8.943
11,385
2.817
8,380
12
Creditors: Amounts fallln8 due withllt one year
2025
2024
Other loans
Other creditor5
Taxation and social securlty
Accruals
1,870
3,860
2,447
4.443
12.620
3,740
5.734
6,133
15.607
13

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13
Creditors: Amounts falling due after one year
2025
2024
Other loans
Other creditors
22.440
6,000
28,440
22,440
9,300
31.740
Included in the creditors ar¢ the followiftg amounts due after more than five years..
2025
2024
After more than flve year5 by In5talrnent
14,960
7,480
14
Funds
Incoming
resour￿$
Resources
Èxpended
01.04.2024
Transfers
31.03.2025
Restricted funds
The 8ridport Literary and Scientific Institute
Thè West Bay Methodist Chapel
76,210
76,589
152,799
6,250
15,092
21.342
139.7571
194,7271
134,4841
6.598
4,454
11,052
49.301
1,408
50,709
Endowment funds
Expendable
2,751.339
2,751.339
1148,7311
1148,7311
3,475
2,606,083
3,475 2,606,083
General Funds
Unrestricted
7,682
7,682
57,622
57,622
144,7911
144,7911
114.5271
114,5271
5,986
5,986
Total
2,911,820
78,964
1328,0061
2,662,778
2024
Incomlng
01.042023 resources
Re50urce5
expended Tronsfrrs
31.03.2024
Restrlctedfvnds
The 8ridport Literary and S¢ientiflc Institute
Thè West B13y Methodist Chapel
87,435
69,385
156,820
6,570
14,592
21,162
136,674)
(13,0241
(49,698)
18,879
5.636
24,515
76.210
76,589
152, 799
Endowmentfvnds
Expendoble
2,750.679
2.750,679
660 2.751,339
660
2, 751,339
Genernl Funds
Unrestrirted
6,182
6.182
75,787
75,787
149.112)
(49,112J
125,175)
[25,175)
7,682
7,682
Total
2,913,681
96,949
198,810)
2.911,820
14

BRIDPORT AREA DEVELOPMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
14
Funds Icontinuedl
Re5trirted Funds
Restricted funds arise when funding Is given for a specific purpose or project..
The Bridport Literary and Scientific Institute ILSII fund originally represented grants and donation5 from various sources to restore
and develop the building, with capitallsed development tosts transferred to endowment funds. It now represents funds
restricted by the tfU5tees 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
buildin& with cèpitalised development costs similarly transferred to endowment funds. During the year. the Bridport
Communities Trust ha5 taken ownership of the Discovery Centre building Ithe former Methodist Chapel), and it is operated on
their behalf by the Community Trust's Corporate Shareholder, the Bridport Town Council. The majorlty of the restricted funds
received for the West Bay Discovery Centre have been transferred to Bridport Town Council during the year.
Endowment funds
Heritage assets are capitali5ed assets held for conservation and preservation purposes and are therefore shown a5 an expendable
endowment. Transfers are made from restricted funds to the endowment funds representing development costs capitalised.
The trustees are confident that SLtfficient rè5erve% are held to enable each fund to be applied in accordance with any restrictlons.
15
Analysls of fund balancès between nèt assets
Unrestricted Restrlcted Endowment
funds
funds
funds
Total
Tangible fSxed assets
Heritage assets
Current assets
15,263
15,263
2,606,083
82.492
112,6201
128,4401
2,606.083
32.743
14,3171
122,4401
5.986
49.749
18,3031
16,0001
50.709
Creditors over l year
Total fund5
2,606,083
2,662,778
2024
Tongiblefixed ossets
Heritage ossets
Current Ossets
Current liabilities
Credltors over l yeor
Totolfunds
21,082
21,082
2,751,339 2,751.339
186,746
{15,607J
(31,740)
152, 799 2,751,339 2,911,820
33,862
f3, 740}
122,440J
152,884
(11,867J
[9,300)
7,682
16 Flnancial Instruments
2025
2024
Cate8orisation of financial instruments..
Financial assets that are debt instrument measured at amort15ed cost
80,899
184.523
Financial liabllities measured at amortised cost
Loan tommitments measured at cost lèss impairment
16,750
24,310
41,060
21,167
26,180
47,347
Items of income. expense, galns or losses
The total interest income for financlal assets not measured at fair value through profit or loss is £1.78212024.. £2,160).
17
Penslon commitments
The charity operates a defined contributlon 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 represent5 cDntribLStions payable by the
charity ro the scheme and amounted to £13412024.. £1971.
18
Related party transactlon5
There were no related party transactions during the year.
15