Charity r8g15tra1i￿ number. 1184834
The Barnstaple Bridge Trust
Annual Report and FA￿n(la1 Statements
for the Year Ended 31 December 2023
WESTCOTTS
CHARTÈPFJ ACCDUNTANTS
• BUSINE55 ADVISER5

The Bamstaple Bridge Trust
Contents (continuod)
Reference ￿MInistra￿ve Delails
2tog
[￿lep￿￿t AJJJihxg Report
10t013
14
Balan￿ Sheet
15
16to28

The Bamstaple Bridge Trust
Reforenco and Administrative Dotails
Tnthes:
Mrs G Wlliams
Mrs S HaYw0￿j (resign￿ 1 Febn￿ry 2023)
Mr M HaW(xt￿BoothISpKKJ1nted 9 June 2023)
Mr D Trueman (r8signed 1 March 2023)
Mr M Fowler {awxJintad 8 June 2023}
Mr G LofthousB (rBS1gn￿l 1 April 2023)
Mr C Horrell lappoinled 9 June 2023)
Mrs A IsaaG Iresgned 16 January 2024)
Mrs J Hunt (resignaJ 1 May 2023)
Ms L York (ap￿Int￿l 1 May 2023 end rosMJned 23 May 2024)
Mr A Rennles
Mr S Hailley {awointed 9 Marth 2023)
Mr W Buffery (appointed 13 April 2023)
Mr R Knwjht (resignod 1 May 2023)
Mr Graham Tchvnsend
Chorlty Reglstratlon Numbèr 1184834
Prindpal Offic•
7 Bridge Chamb￿5
The Strand
Bamstaple
EX31 1HB
Auditor
Westcotts (SW) LLP
CharteTed A[￿U￿tantS and Statukny A￿dI￿Or$
47 Boutport Streel
Bamstap18
EX311SQ
Bank•vs
CAF Bank Limi￿1
lfjr4Js Hill AveN8
Kings Hlll
West Maling
Kent
ME19 4JQ
Page 1

The Barnstaple Bridge Trust
Trustees. Report
Th8 trustees wesent the annual report together the finanLial State￿nts and auditots. report of
the charity for the year ended 31 December 2023.
OBJECTIVES. STRUCTURE, GOVERNANCE MD 1KANAGE1￿1
The oryins of the Brvjge Trust in Bam5taple are as obscure as those of the Long Bridge over the
River Taw it W8s formed to maintain. The Importan￿ of the brNlge vrds rec(NJnised from the earliest
tlmes and many local landowners grf1￿1 property and money to assist in its upkeep. Gifts of property,
a118d feoffments. were vested in prominent lo(al individuals to repair, maintain and improve the Long
Bridge. The feoffees (receivers of th8$8 gifts) therefore became responsibl8 for the Bridgg and it is
with Ihem that th8 OTvJins of tho tTh￿t li8.
uTrt￿ the early 19ih c8nlury, record5 are scarce
however. in 1817. a minule book Started to be
kept by the Trustees las by then the feoffee5
were also known). The first recoFded
ChambeTlain, Mf John Baker, was appoirrted
and in the interyenin9 years lalfflost Mfo
hundred) thefe have onty been leD appointed.
poinling lo the exceptionally long service of
sevefal. In 1905 the Bridge Trust lornially
became 'The Long Bridge Chaiity. Throughout
Its history the Bridge Trust has been close to the
heart of Barnslaple-, local councillors. dignilaries
and other prominent citizens have served as TTUStee5. In 1961 responsibility for the Long Bridge
pa55ed to the Department of TTanspotl and 'The Long Bridge Charfty. was re-consllluted wilh a new
Trust Deed and reverted ID ils hisloric name ol 'The Bridge TfUSV.
Page 2

The Barnstaple Bridge Trust
Trustees. Report (continued)
In 2019. the 'The BrKlge Trust, ￿nVerted frown an unincorporated tharity to a charitaLle incorporated
organisation {CIO}. This change Syds partly because many funding organisations now require charities
to be 'incorporated' as a condibon of any award and to provide better liabilty prol8Ction to Trustees. In
2023. it was thought that the teTm Chamberlain was OLrtdaled, and the more mrAlem temi of business
managor is n¢)w used to d8suibe the role.
The propety portfolio, also knowrF as the permanent endowment, consists of four historic Grade 11
listed properties making the Bridge Trust one of the largest owners of heritage wopety ￿ Bamstspl8.
Some parts of the property portfolio have been owned by the Trust for a considerabie time. One small
area, adjoining Malden Street has bdonged to the Tnjst since 1310.
AF￿￿Ugh Ihe land which they are built may hav& been in the Trust for ￿nturieS most of
buildingts thems8fves date from the 19th century.
Bridge Chambers-
designed as a 'hall and
chambers, by emlfient
local architect R.D. Gould.
and completad by the
T￿￿1 in 1873, the bullding
is a piominent local
landmath and once
housed Ihe Magistrates
and County Courts (Iha
hal still exists though
needs repair and only
occasionally used)
together wlth commerdal
offices. stores and, on the
part noarest the bridge, a
substantial private house.
Today the building contalns vaiious Offi￿ Including Ihat of the Twst as well as the Bridge Tnjst
Board Roorft (used as such since 5hDrtty after the building was completed). In 2023, the Trt￿t weie
5ucce8sful in Dbtalning 918nt mDnoy from Arts Council England to use towards ieDovaling parts of
Bridgè Chambers ￿e￿dIng works to th8 Hall to hopefvlly become a centtal Brts and euhural hub
wlthin the town. It Is hoped that Wofks wlll begin In early 2025 with a view to complellon And launch of
the spaces In eady 2026
Bridge Bulldlngs- conlainèd withbn an area b0￿red by the Squgre: Ihe Strand, and Meiden SlregL
Cofftpleted sorneliffle before 1866. today thls large builthftg housès various commerclal retail oullets
and. on the upperlloors, eight resldenlial flats.
I I I I
I IlliiiJl'
11,
Page 3

Tha Barnstaple Bridge Trust
Trustees. Report (continued)
9- 11 High Sireet- acquir8d Ihe mid C19th, when
the Trust built houses on the sile, the building as seen
today was completed in tho lat8 19th century 4nd, Tn
add¢bon lo residential units, a charity shop and an
ouffitters, ctsnlains ihe premises ol the HSBC Baftk who
{as the Midlgnd Bank and fomerty the London Ciny &
Midland Bank) ale Ihe Trusl's oldest lenanls hawrbg
oCCup￿d thE premises for well over 100 years. The
fesidenlial untts (9 flats) oll part of the upper floors are
let on a long-tenn lease to a housing association and
managed by Young Devon (fomierty Devon County
Counril's Devon Youlh department). The Ilats are let lo
young people tnoving from institutional caie to
independent liMng_
109_113 Boulport StTeel- this block of property was
acquiTed by the Tfust in the 8arty C19th when it was
mosty houses (built between 1822 & 18511.
From the C19th, until 1961 Ihe Trusl was an aclive
propety developer in the tovin. buying. selling, and
developing properties. In additton to the remaining COF8
properties. seveial other prominent Bamslaple buiFdings
were once owned by the Trust including the Fulham
Chinese Restaurant in Tuty Street {formerty the Golden
Fleece Inn built by the Tnjst and sold in 19221, North
Devon 0i5pensary (now a hasrdressgrs} ITr Boutport
Stfeel Ibuill by ihe Trust and 501d in 1930). the Theatr6
Royal also in BoLrtport Sifeel (also sold in 1930 and
demolished lo make way for a cinema) and 93 High Street (now Animal Fashlon).
Pagg 4

The Barnstaple Bridge Trust
Trustees. Report {contlnued)
anlsation
cture
As with the prewus 1961 Trust Deed. the (Xffithits￿on of the new CIO requires that tho fvll Lwjard of
Trustees (called Orilinary Meetings) meets at least twice annually. Ihe Annual General Meeting
nomia*y precede5 the Ordinary MeetirrfJ in March.
The Ttust is permitted to appoint 16 Truste8s, ten are 8ppointed by the existing trM)ard. lft a change
from previous pr8cti¢e, North t)evon Council can nominate 3 Tnjstees while Bamstaple Town Council
t*n nominate 2. In addilion. the Mayor of Bamstaple can bgcfjme Trustee ex-off￿10. Al Trustees must
be able to C￿ApIete and SI￿ a dedaration as to their dIg￿lIrtY under Charity Commission rules before
thgy become Trustees.
At th8 Annual General MeeUng of the Trust the Chalr and Vlce-chair are eleded and the Trustees
Annual R8POrt and Ao>)unts apFffjved. Beth a Trnstee can be1￿me Chair. they must have seryed
minimum of 3 ￿ar3 as a Trt￿tee.
At their Ordinary Meetrys. Twstees recetve reports from the Business Manager and the various
committaes and. where n8cessary. approve deasions by them. Policy. strategy, major deasions
are reseN8d to the full board of Trustees.
Thgre are currenty three pemianent ccthmittees ofthe Trust lin addition to the Ordinary Meeling of all
Tntsteesl
Strategy, Fmm and Slaffing (SFS)
Propety
Public Ben8fi1 and Aworeness (previously'Grants').
The SFS Committee considers all matters affeGting the Trust and prepares re￿Mmenda￿onS for the
full t)oard of Twstees e5pedalty finan￿ and govemance issue5. Thts committee (ln tts Part 2
pr￿edIngS) also acts ss a fi￿t committee to consider p8wJnnel issues and staff s8larw. The
Strategy, Finance arvj Staffing commtitee also considers a draft budget for eath year, their
recommen(JatNJns p4e raferred to tha Ordnary Meeting ofthe Trust in March for appmal.
Ad HOG (xjmmittees are corwened as necessary to consider grievances and complaints and. on
orxasion, to wrsue speofic adivities e.g. staff and trustee recruitment. improviThJ financial planning
etc.
Memtr￿￿hlp of the vwious committees bs deuded at the Annual General Meetlng in March, all
)mmittees appoint their Chair and Viwhair (except the Strategy. Finance and Staffing
Committe8. which is Chaired by the Chair of the Trust. or in their absenc￿ ihg Vice-chair). The
Business Manager attends all m88tings of the Trust (including cofflmittees) except when mattèrs
direcuy relating to their own salary or o)nditions (or in which they may another prejudicial or
financial interest) when they withdraw. Although the Business Manager attends and participates in
meelings, they do not vote on re￿￿ulICrf)$.
The Trust emrAoys sever81 stafTr.
The Business m￿ager - who Is responslble for the daY-t￿daY running of the Trust under the
overall dlrection of the Trustees. working dosety with the Vadous Chairs and committees.
Adminislrator - the Administrator sUpp￿ts the Busin8s6 Managgr and Cterk in the runnlng of
the TrusL
Acctyjntant - suwbng the Business Manager. au tasks re18thig to finance indLKling not
limit￿1 to payiry invoices, raising rental Invol￿S. calculatin9 payroll, financial ￿anning, and
reporling to Trustses wilh regular financial reports.
Page 5

The Barnstaple Bridge Trust
Trustoes. Raport (continu•d)
Finance Assistsnt- supwrtiThJ the Business Manager and Accountsnt
c￿rk - all works in r81alion to the preparatbjn of meetings, minutiry and u)nsulting with
Trustees stsff as r￿sSary regarding ststutory complience.
A number of othafs are employed in part4iTh support roles.
The constitirtknn of the charity dearly defines its obj8cts as..
Making grants for public purpo￿ forthe general benefft of inhabllants
Providing amenities for th9 beneffit of inhabitar
GIv￿g money or artides for the benefft of pcrfy inhabilants
Making grants to Chatibes having a5 their objed the relief of povety
Making grants to Charl￿S t￿l￿n9 as their cknject the furtheranct of publlc wryjoses for the
gener81 benefit of inhabltants.
Oryanisation and Structure
In norrnal times. Ordinary meetings of lh8 Tn￿t are hekj regularfy. the hnnual Gen8ral Meekn9
precedes tho Ordinary Meeting in March. Al the Annual General Meeting of the Tnjsl Ihe Chair arKI
Vic&chair are elected and the Tru81ees Annual Report and Accounts approved. At their Or(linary
Meetings Trustees receive reports from the Business ManwJer and the variou5 committees and,
whero nece6sary, 8pprove d8c181ons by them. Pr￿CY. strategy. and rnaior deci8ions are resowved to
the full t¥)ard of Trustees.
The COnsti￿tron of the tharlty now permits pgrlicipatw)n at meelngs by onlln8 meons 8.g. Zoom and
Microsoft Teams. Further. vthere necessary, decisions can be approved electronlcally by ￿nall where
the is important an¢JJoT urgeiit.
Ove￿aD￿n￿lnt￿rnal Control
The Trust has In place approprbat8 Folicles as requlred by law and in accordance with Charity
CommissK)n guidan(*J and regulatiorts: these polloes are revlewed regularfy.
•cruitment of T staes
The c¥)nslithon of the charity pemms the apF￿trnen1 ol five nominated TNstees:
Three Trustees are nominated ty Bamslaple Town C(Mmcil (and thg rna￿r may also be
Twstee ex•offic￿l
North Devon CourKil n¢Kninat8 Iwo Trustees.
Remalnlng Trustees are apFrt)Inted followlng a skills audit of axistiNJ Trustees and through an opon
and transparent recruitment ￿￿uding public advertising.
New Tru9tees are madg familiar with the wcmk of the charty through, meeliigs with olh8r Trusteos.
being providèd with coptes of the various key p)licies and documents th8 Trust has develoFoJ land
continues to de¥elop) and by belng given a copy of the charitys (x)nstitubon.
Iskm
Èmont
The Trust maintains a risk register which is regularfy revlewed. The Trust Is conlldenl that it is aware
of tho risks faced by the charity and has poli(#8s and processes in to protect against them.
Page 6

The Bamstsple Bridge Trust
Trustees. Report (contlnued)
Val
The Trusteos recognlse the importance of an atLur8te valuatlon for its Pemi8nent Endowment
{propety pNltdiol. The last fom)al valuation vms conducted in AUg￿t 2023. Through its professional
advisors, its Conn￿)nS ￿ ILKal eouncillors arKJ other local people and organisation5", informatio
on local prop8ty markettrends continuousty collect&J and reported to thg Trustees.
nancial Controls
The Trust re￿ 115 financial controls annualy and at other times there arg changes in staff
procedures.
Related
These are detalled in a ncrte to the finandal statements. The Ch81ity has a goLNJ relatl¢xtshlp ￿ ils
tenonts. and local 0rganlsatk￿S and businesses in the area.
rformanc
R8vl•w of Acllvlll•s and **hlevoments
In March 2023. the Trust v￿CoMed the naws of their successful bid to the Art5 Council for gr* of
monies under the Cultural Development Funds. This wll help the Trust to bring the tr￿lk of Brkjgo
Chambers back into uso as a public sp8ca. Tho sucwfijl bid is in conjunction wllh North Devon
Counal who are the overall contracting authorrty and are using they 811ocatlon of fvnds to renovatg
their Boutport Street properties. The collaboralion wth NDC and 0th8r stakehoklers halp to
devew BernSta￿e's cultural quarter starting from Boutport Streot, pa* the upgraded Pannior Market
down onto the Strand and ending with the Trusys Ilagship building. It is hop8d that thg tendemg
process for Architects and Quantity Surveyors TrMII be complete by the end of the year wrth plann*yJ
applica￿On bewvJ submitted to NDC by June 2024. Work 1$ hoped to start towards th& end of
20241beglnnlng of 2025 with CLYnpbetlon by MeJch 2026.
During th8 ￿. the Trust has had s8ver81 of its. othar propertigs chang8 leasohoklers and some of
the empty premr3es rented OUL This ha8 provided an Improving inccqne situation. 2023 has seen th6
Business Centre kKatgJ wtthin Bridge Chambers grow to almosifull c￿Vpan¢y.
The Trust is still Investigating optlons for the empty Boulport Street properties. There has been
interest from businesses and community interest groups as lo the building 8nd it is hoped that 2024
result in firm offers of interest being forthcoming. Whi15t the Tnjst would be reluctant to dispose of
any of their eridowmenl portfolio. il also recognises that W8 cannot continue to harbour empty
that they do not have the funds to refurbish themsebrfes.
The ttust continues to support those in real need via the Samaritan fund. which has seen many more
requests during the year and believes that this trend will (X)n￿n￿e whilst the hyal [wla￿On remaln in
cost4)f4ivlng uisis. The Trust have bean using a restricted fvnd knndly donated to them on the
closure of a ILKal Charity and ft is hoped that this ftjnd wll last ￿til at least 2026. It is hoFed that on
Bridge Chambers has been refurblshed that SUTplus income from thg improved twrfding V•ill enable th8
Trust to resume providiNJ general grants in the not-t00411slant fvture.
The TNst is always knking for new trustees. especialty IIK6e coukl fill any skills gap on the
board.
Public Benofft
The Trustees cortsider that the objects of the charrty, as 5Lgted above. ctynply with th8 Charfty
Commisslon widance on Public Benefit (PBI, PB2. PB3: 20131. Th8 TnJste8s unanImous￿ agre8
that the requlrgment for du& regard to the Public Benefft guk1ance h85 ba8n sausf￿.
Page 7

The Barnstaple Bridgo Trust
Trusteos. Report {continued)
FINANCIAL REVIEW
During Ihe year. the Trust recEived ino)me totalling £333,562 (2022: £235,720). The I￿eSSe in
In(￿me fmm 2022 is becau98 of an increase in rental ￿cOme from £226,264 to £245,489 and other
In￿Me ￿￿1Ved totalling £72.605.
Total expenditure d8(Trased from £317.646 in 2022 to £297,009 in due to a demase ￿ repai￿ and
renovations during the year.
It Is the pomcy of the charity to malnlain unrastriL*ed funds, which are the free reserves of the charity.
al a18vel which provKles sufficient funds lo support general costs.
Slatement of Trustoes. Rasponsibilltlos
The trustees are resrKJnsible for preparing the trustees. re[￿rt and the thanual ststements In
accordanL* wih the United Kingdom ALtouTrting Standards Iunited ￿'ngdoM Generally A￿pted
ACCA￿ting Prac11￿> arml applicable law and regulations.
The law aPp￿Cable to charilies requires the trustees to prepare finanaal slatements for each financial
year whith gNe a true and falr view of the state of affalrs of the charity and of the incoming resources
arbd applkauon of rèsources of the charity for that p￿lI￿J. In pr8paring thes8 financial statements. tha
trustees are required to..
select suit8ble aco)unting Fdicles and then appty them conststenty.
observe th8 methods and prinoples in the Charites SORP,"
make judgements and estimates that are reasonable ￿ prudent;
state whether appli12b￿ accounting stsndards have been follrywed, subject to any material
departures disclosed and explained in the finan￿81 ststements: and
pr8pare the financlal statements on the gdng conr*m basls unless it 15 inapprowiate to wesum8
that the charfty will continue in busines
The INstees are responsible for keeping pyoper accounting records that di5cIo8e wilh reasLK)able
a¢curdCy at any tlme the financial posilion of the d)arfty and enable them to ensure that the financial
st*8ments comply wth the Charrbes Act 2011, the Charities (Acojunts and Reports) Regulations
2008. and the prowstons of the constitubon. The trustees are also responsible for safeguarding the
assets of the thanty and hen￿ for taking reasonable steps for Ihe prevention and deteclion of fraud
and other irre9ularibes.
The trust￿ 8re responsible the maintenance arKS integrlty of the corpryate aThJ financial
infomation induded on the charilable cDmpan¥s webslte. Leglsl8t1￿ goveming th8 preparnlon 8nd
dissemlnation offfinanGid statements may drft8r from legislatlon in other1urisdic￿ns.
Dh¢losure of infoTmatlon to audilor
Each trustee has taken steps that they ought to have tsken as a trustee in order to make themsebves
aware of any retevant audit infomiation arKI to establish that the thaTity's auditor is awaTe of that
1rrfomw￿0n. The trustees confimi th81 there Is no relevant Informatlon that they know ol aTrJ of whlch
they know the audltor is unaware.
Page 8

Th8 Bamstaplo Brfdge Trust
Trustees. Report (continued)
The amual Twt was •woved by Ihe Intstees of the chartty on2s1iakfb￿ *ned on its
beh8W ty.
Mrs G Wllliam5
T¢)J8108
P￿￿9

Tho Bamstaple Bridge Trust
Independant Auditorfs Report to tha Members of The Bamstaple Brldge Tru3t
Opinion
We have audited th8 financial statements of The Barnstsple Bridg8 TTu8t (the 'chartlV) for tho
ended 31 December 2023. o)mprise the Ststement of Financial AGlivities, Balan￿ Sheet, aTrJ
Notes to the Financial Sts1￿￿ents. i￿judIng a summary of signifiGant accounting pdi(xes. Th
finanaal reporting framework that has t*8n applied in their preparation is United Kingdom Accxwnting
standards. comprising Charilies SORP - FRS 102'The FinarKial Rerx)rting Stsntl8rd aprAirable in the
UK aThJ Republk of Ireland, and applicable law (Unit8d lQngd¢Jm Gerwalty Awted Accounting
Practice).
In our cyknton the financ4al statements..
gNe a Irue and fair view of Ihe state of the charity's affairs as at 31 December 2023 of its
in￿ming resources and applThbon of r8sources. Induding ils in(x)m8 and exp￿dituT8. for the
year then ended".
have been properfy pwared in aCLxxdance with United Kng(h)m Gener811y Acceptsd Accounting
Practice: and
have been prepared h a(x))rdanc£ wilh th8 requirernerrts of the Charitse5 Act 2011.
Basls for opinion
We conduded our audlt in accordance wlth Int8mational Stsndards on Auditing {UK) IISAS (UIQ) and
applicable law. Our responsibilities under those standards are fijrther described in the auditor
responsbilities for th8 audit of the financial statements sectKJn of our report W8 are independent of
the charity in accordance with the ethical reqU1￿ments that are relevant to our audit of the financial
statements in Ihe UK. including the FRC'S Ethical StarKlard. and we have fu￿lled our other ethical
responsibilities in accordance wrlh these requirements. Wo believe th8t the aL¥Jit evidence we have
oblained is SLrfficient and aPpr￿riate to provide a basis for our ￿￿n￿]n.
Conclusions rnlatlng to going ¢oncern
In auditing the financial statemnts, we have ¢onduded that the twstees use of the golng concem
basis of accountiThJ In the preparation of the financial statements is approprtate.
Based on the work w8 have performed. we have not identtfiod any matwial uncertainlies relatiThJ to
events or condilions that, individualty or collecbvely. may ozst significant doubt on the charilvs abilty
to conliThJe as a g)ing concem for a p8rfod of * least Iwthe months from wthen the original financlal
statements were authorised for issue.
Our resp(x)sibiliknes and the responsitmlrlies of the trustees ￿ThIh respeL# to going conwn are
described in the relevant sections of this report.
Other Inforniatlon
The trusteas res￿)nSIble for the oth8r thalK)n. The other inforniation comprises tho
Infor[na￿On incknded in the annual report, other than the fir￿n¢la1 Statements and our audiio¢s report
thoreon. Our opinion on the financial statements does not cover the other information and, except to
the extent cAherwise explkiuy stated in our report. ￿ do not exwess any fcwm of assurance
Page 10

The Barnstaple Bridge Trust
Independent Audltorfs Report to the Members of The Bamstaplo Bridge Trust
(contlnued)
In conn8CtIc￿ wilh our avdit of the flnancial statements, our responsiblity is to read the other
infomlation and, in dolng so. consider whether the other inforrnalion is materialty inconsistent with the
financial statements ￿ our krK)wledge obtained in the 8udit or Othe￿ise appears to be material
misslated. If w8 identify such material inconsistencie5 or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statetnenls or
material misstatement ofthe other infomi*ion. If. basad on the wc*k we have Perf0m￿d, we corKlude
that thero is a material mtsstatementof this other intormation, are rw4ulred to report that facL
We have nothlng to repxl in this regard.
Mattors on whl¢h we awe required to report by exceptlon
In the IwJht of our knowledge and undethnding of the charity and Its environment obtained fv) the
course of the audit, we have not Identified material mlsstatements in the Trustees, Report.
We have nothing to report in rospect of the followNJ matters vther8 Ihe Charitie8 (Accounts ar
Report) Regulat￿n9 2008 requires us to report to rf. in our opinion:
adequate accounting re￿rdS have not k8pl, or ￿lUmS adequate for our audil hav& not been
received frDm branches not visiied by us.. or
the financial st*ments are not in agreement wllh the accounling records and relums" or
certaln disdosures of twstees r￿luneral￿￿ sperAfied by law aro rK)t m&Je' or
we hav8 not received all the irrformatlon 8nd explanatk)ns we require for our audlL
R8sponsibiliti8s of trtsstses
As exptained more fully in the Statem8nl of Trustees. ResponsibIl￿eS (set out on page 81. the Iruslees
aTe responsible for the preparation of the financial statements and for beiThJ satisfied that they give a
In￿ and fair view, aThJ for suth intemal control as the tru5te8s determine is nocessary to enable the
preparation of Ilnancial statements that are free from mat&rial misstatemènt. whether due to fraud
ovror.
In preparing the financial statements. the trustees are responsible for assassing the charitys ability to
contillue as a going concem. disdosing. as appIl￿ble. matters related to goiTrJ concem and using tt)e
gO￿¢g con￿rn basis of accounting unless the trustees either intend to IKIUKlate the chaiity or to (wse
operations. or have no realistiG altarnative bul to do 80.
Audltor R•sponsibilltles for the audft of the financial statoments
Our objedives are lo obtain reasonable assurance abr)ut whether the financial ststements as a W￿19
are free from material misstatemènt, wheth8r due to fraud or error. and lo issug an audi￿¢S report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an au(tht condu&ed in accordance with ISAS (UK) will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considergd material rf. individualy
or in the aggregate. thoy could r8asonably be expected to inffluen￿ the economic decisions of us8
takèn on the basis of these finandal statements.
The &xtent to which our procedures are capable of detecting irrggulariti&s. induding fraud is dètailed
We idenltfied aws of laws and regulations that C￿ld reasonably trR expected to hav8 a material
effoct on the financial sL*ments from our general commerual and sector experien￿ and through
discussion vmth the trustses and Other management and from in￿6￿10n of the chafitys regulatory
COTre$p)ndence. We u)mmunicated Klentified laws and regulatirms throughout ¢Jur team. arKI
remained alert to 8ny ￿dICatiC￿S of non-compliance throughout tt)e audit.
Page 11

The Barnstaple Bridge Trust
Independent Audito¢s Report to tho Members of The Barnstsple Bridge Trust
(continued)
The charrty Is subj'ect to laws and regulat*)ns that govem the preparation of Ihe finencial
statements, indwling financial reportlng legi￿allon, and other charfty18gislation. The charity Is also
subject to many other laws and regulatlons where the (xlnsequences of n0npc0m￿lance could
have a material impact on the amounts or disdosures within the finar￿1￿1 ststements, Ind￿lIng
emF4owment, anti-bribery, anti-mwey laundering and certain aspects of charity legislation.
IMng to the inherent limitatloThs of an audiL there is an unavoidatsle risk that ￿ may have
detected some material misstatements In the financial ststements, evan ll￿ugh we have properly
planned and performed our audit in accordance wth auditing star￿ardS. In any audit, th8r8
remains a htgher risk of non4etection of Irregularilies. as these may Involve (yjlluslon, forgery,
intentional omissws, misrepresgntations. or the override of intemal ￿ntrolS. We are not
reSpon￿bie for weventhg non•compliance aThl cannot ￿ expected to delect non-CoMp￿I3n￿
all laws and regulattons.
As part of an audr( in accwlance th ISAS (UKI, we exercise wofessional ludgmant and maintsin
professional scopliasm throughout the aLKliL We 81so
Identrfy and assess tho rfsks of materfal misstatsment of the finanual statements. whether due to
fraud or error. deS￿n and perform audr( procedures responstve to those risks. and obtain audit
eVIden￿ that is sUffic￿nt and appropriate to provhjè a t)asis for cmjr opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resuifing from error,
as fraud may invo￿e cx)Ilusion, forgery. Intentional omissh)ns, misreprewtation5. or th& override
of inlemal ex)ntrol.
Obtsln an understsndlng of irrtemal control relevant to the wdit in order to deshjn audtt prC￿dureS
that are appropriate in the CIr￿m51an￿s, but not for the purpose of expressing an opinion on the
effectiveness of the intemal control.
Evaluate the appropriatenes6 of accounting policies used arKI the reasonableness of ac(x)unting
estimates and related dlsdosures made by th& trustees.
Condude on the appropriateness of the trustees, use of the golng concgm basis of accounting
ar¥J, based on the audri ewdence obtained. whoth8r a material uncertalnty exists related to events
or C￿nditionS that may (zst signfficant doubt on the charitys abilty to continue as a going concern.
If we cl￿dUde that a material uncertainty exists. we are wuired to draw atte￿[On ir¢ our auditorfs
report to the related disclosures in the financial statements or. if such disclosures are inadequate.
to m¢yJify our opinion. Our condusions are based on the audit eVIden￿ obtaind up to the date of
our auditr)rfs repK)rL However, fukure events or c*ndttions may (ause the Gharity to cease to
¢x)ntinue as a golng concem.
Evaluate the overall presentation, structure and content of the finandal st*ements. induding the
disclosures, and whethor the financial statements represent the undedwng transaL*ons and
events in a mallner that achwes fair presentstion.
A fvrther description of our respoThsibiliii8s is availabl8 ￿ thg Financial Reporting Ccmjnal's wobsite
at: www.fr&org.uklauditorsresponsibilti8$. Thls descrpt*)n forn￿ part of our auditofs report.
Use of our r•port
This report is made &lely to the charity Injstees, as a ￿dy, in aciyjrdance wilh Secti￿ 144 of the
Charities Act 2011 and regulaticffls made under Se￿On 154 of that Act. Our audit WOFk has been
undertaken so Ihat w8 mtht state to the trustees th￿se matters we are required to stale to tn￿tea$ in
an audttors, report and for no olher purpose. To the full8st extent pennitted by law. we do not accept
or assume responslblllty to anyone olher than the charty and its trust8es as a body, for our audit
v*)rk. for this reiyxt. or for the opinions we have forined.
Pago 12

The Bamstaple Brfdge Trust
Independent Auditorfs Report to the Members of The Barnstaplo Bridge Trust
(contlnued)
Westcotts (SW) LLP
Chartered AL¥X)untsnts and Statutw Audi
47 8oLrtport Street
B8m$taple
EX311SQ
Page 13

The Barnstaplo Brldge Trust
Statsment of Financial Activities for the Year Ended 31 Decembor 2023
Unrestricted Rostricted Endowment
fvnds
Totsl
2022
2023
Income and Endowmnts from:
Donations antl ￿ga￿e$
other trading activiknes
Investmgnt In￿￿8
Olher in(x)m8
245,489
10.468
72.605
245,489
10.468
72,605
227.948
6,972
Total incom6
328.562
333.562
235,720
Exp•nditure on:
Charitable acti￿lieS
1286.163)
10.846)
{297,009
317,646
Totsl expenditure
Gainsllosses on
irN8stment
{286,163)
(10,8461
(297,0091
{317,6461
1,002
18.982
27,982
Net
incomel{8xp8nditur61
Other recognlsed
galns and losses
Other galnsnosses
Not movement In fvnd
43,401
{5,846)
18.982
56.537
(109,908)
(551,0(X))
43.401
(5.846)
18.982
56,537
(660.908)
Reconclllatlon of funds
Total funds brought
forward
217.079
21,381
3.655.574
3.894,034
4,554.942
Total fijnds cani8d
forward
18
260.480
15.535
3.674.556
3,950,571
3,894.034
All of the charity's a¢Aivllies derive from continuN)g opgralions during the above ts¥o periods.
The fvnds breakdown for 2022 is shjwn in note 18.
The notes on p￿S 16 to 28 form 8n STrtegral part of these fknancial statement5.
Page 14

Tha Barnstaple Bridgo Trust
(Reglstration number: 1184834)
Balance Sheet as at 31 December 2023
2023
2022
Not
Flxed assets
Tangible assels
Investments
14
15
3.449,000
234.656
3,449.¢Y)O
214,672
3,683.656
3.663,672
Current assots
Debtors
Cash at b￿k and in hand
18
17.728
299.070
37.077
297,035
334.112
316.798
Creditors: knounts falllng due wlthin OM year
Not curraftt assets
17
49,8831
103,750
266.915
230.362
3,950.571
3.894,034
Funds of the Gharlty:
Endowmont funds
3,674,556
3.655,574
R•strl¢tsd income fund8
RestriCt￿j funds
15.535
21,381
UnrBstrlct•d Income funds
Unrestslcted funds
260.480
217.079
Total fund8
18
3,950,571
3.894.034
The finanrial statements on pages 14 to 28 were approved by the tsijstees. and authorised for issue
on .2s.l.io.(.?*nd signed on their tr￿half by:
Mrs G W￿lIamS
Trustee
The notes on paggs 16 to 28 fomi an Intsgral part ofthese finandal statements.
Page 15

The Bam8tapl8 Bridge Trust
Notes to the Financlal Statements for the Year Ended 31 December 2023
1 Accounting policle8
Statement of ￿MplIance
The financial stalem&nts have b8en prepared in acec￿ance vAlh the seL>)￿J adilion of Ihe ch￿IlleS
Statement of Re¢xJmmended PractKe issued in Oclober 2019, thg Financial Reportwu Standard
applicable in the Unitsd Kingdom and Republic of Ireland (FRS 1021 and the Charities Act 2011.
Bas1$ of preparatlon
Bamstsple Brrdge Trust meets the definilion of a public benefft entity under FRS 102. The
accounts (financial statements) have been prepared under the historical cost ￿>￿Vention wilh items
recognised al cost or transaction value unle&8 otherwise slated in the relevant nolelsl to these
accounts. The financk81 statements are Prepared in sterlnvJ which the fvnctN)na currency of Ihg
charity.
Exomplion from preparlng a ¢ash Ilow 5tatsment
The charity opted to 8dc4)t Bullelln 1 published on 2 February 2016 ar￿ have therefore not Incl￿ a
eash flow stathent in these financ181 statements.
Golng conom
The trustees consider that there are no material unwlaintles at￿ut the charfWs atxlty to crmtlThJ8 as
a going concem.
Income and endowments
Voluntary Income i￿ludIng donations, glfts, lega￿e8 and grants that provide C￿e funding or are of a
general nature is re¢￿Ised when the charlty has entitiemenl to Ihe income. it Is probable that the
income will be re￿iVed and the amount can b8 measured with suffl¢i8nt relability.
Grants are recognlsed kn the charity has an entiilement to the funds and any condltions linked to
the grants have been met. wtwe perfoThnan￿ conditions are attached to the gfant afKI are yel to be
met, the income is recOgn￿ed as a liablity and induded on the balance sheet as defe￿ed income trj
be released.
Deferred In￿rne represents afflounts received for future p8rkAls and Is rel&qsed to irK(Mning
resou￿ in the P8fk)d for which, it has recelved. Such Income Is onty deferr•J when:
- The donor specifies that Ihe grant or donation must only bg used in fubJre accountlThJ periods,. or
The doTK)r has imposed ￿lditiOnS whKh must bg met befor8 Ihe charity has uncoTMJibonal
entitlemenL
Interest on funds held on derA)8il is IrKlUd￿ vthen recewable and the arn￿nt be measured
eliably by the charity. this is nomialty upon not[r￿at￿)n of the interest paid or payable by the
tk3nk.Dlvidends ar8 recognised once the divthnd has been declared and notitsatK)n has been
received of tho divideThJ due.
Page 16

The Barnstaple Bridge Trust
Notes to the Financlal Statsments for the Yoar Ended 31 Docember 2023
(continued)
Expenditure
All exp￿￿tt￿re is recx)gnised once there is a legal ￿ cvnstructive obligation to that exper¥Jiture. it 18
probatrAe setuement is requlred and the amount c2n be measured reliabty. All o)sts are allocabj to
the ap￿1¢able expenditure heading that aggregate similar costs to that categ)ry. Where costs cannot
b8 directy attrfbU￿l to partiwiar headings they hav8 been allocated on a b85is consistenl with Ihe
use of resources, with centraj slaff costs allocated on the bass of time spent, and depreciation
charges aM¢Yated on tho p)rtion of tha asseys use. OtheT SUPPOrt costs ar& 8liocated based ￿ the
8pr88d of staff costs.
Charftable activities
Charitable expenditure comFffise5 those costs incurred by the charity in th8 delivery of its acbwties
and sentlC8s for Its bene￿larIeS. It includes both costs that can be allocated directjy to such ￿ti￿￿eS
and thos8 ￿$ts of an irKlirect nature necessary to pJJpwrt them.
Grantprovisions
ProvIS￿S for grants ar8 mad8 when the intention to make a grant has been commur7tcated to the
rwipi8nt thgr8 is unc•rtainty 8bout the timing of the grant or the amount of grant payable.
Support ￿$ts
Supp)rt costs i￿lUde c*ntral functions and have begn alk)cated to activity *￿)st Ca￿J0[[eS on a basis
consistent with the use of resources. for example. 81tocating prop8ty costs by floor areas, or par
Ggpit8, Staff costs by th8 time spent aNJ other costs by their usage.
Taxatlon
The charity is considered to Pa8S the tests set out in Pawraph 1 Schedule 6 ofth8 Finan(* Act 2010
arKI therefore it meets the definition of a charrLqtAe company for UK ￿[pOration tax purFx)ses.
Accordingly, the charity 15 pol8ntiaUy exempt from taxatvjn in respect of income or capital gains
received within categorre8 Cover￿ by Chapter 3 Part 11 of the co￿oratIon Tax ALt 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the exlent that such inc4)me or gal￿ are
applied exdusively to charitable purposes.
Tangible fixed assets
Individual fixed assels are initially recorded at cxjst. less any subsequent a(￿mulated dePreC￿tIon
and subsaquerrt accumulated impalrment losses.
Fixed assat inveslJn8nts
Fixed asset Investments. other than programme related invèstmonts. are induded at mathet at
Ihe balance sheet date. Realis8d gains and lossos on investments are calculated as the differenc
betsveen sales proceeds and their market value at the stsrt of the year, or their subsequent cost, aTrJ
are charged or credited to the Statsmenl of Financial ActNitigs h the perkxl of disposal.
Unrealised galns aThl h)sses represent the movern8nt in market values during the year and are
edSted w tharged to Ihe Ststement of FinanLI81 Activities based on the martet value at the year end.
Page 17

The Bamstaple Bridge Trust
Notes to the Financial Statements for the Year Ended 31 Docamber 2023
(continued
Cash and cash equlvalents
Cash arKI ￿$h equivalents Gompri88 ￿sh on hand and cal dep)sits, arffl other short4emi hwJh
liquid investments that are readily convertible to a knrmn amount of cash and are subject to an
insignifKant risk of chawe in value.
Fund structurn
Unrestricted income funds are general fijnds that are aVallab￿ for use at the trustees thscrellon in
furth&rdnce ofthe objectives of the charity.
Deslgnated fvnds are unrestricted fvnds earmarked by the trustees for pariicular future projects or
commitments.
Restricted income fvnds are those ￿k￿￿tsd for use in a particular area ￿ for spedfic purwses, Ihe
use of whlch is restricted lo that area or purpose.
Flnanclal inslTuments
Cla5sificatlon
Financlal assets and finandal liabilities are reLwnised when the charity becomes a party to the
contractual provisions of the instrumenL
Financlal liabilities and equity instruments are d8ssified accoTdir¥J to lh8 substantx of the conlr8clLMI
arrangements entered into. An equty instrument is any contract that eviden￿ a reshlual Interest in
the assets of the charity after deducting all of its Ikibilitles.
Recognltlon •nd measuremen¢
All financial assets and liabilities are Initially measured at trdnSaction prKe {induding transackn
costs). except for those financial assels classified as at fair value through profit or loss, which are
initially measured at fair value Iwhith is norwnalEy the transaction excluding transaction costs).
unless the arrangement constitutes a financing transaction. If an arrangement consbtutes a financing
transBCtion. the financial 8SSOt or financial liability is measured at the pre50nt value of the future
payynents discounted at a market rate of interest for a similar debt instrument.
Flnancial assets and liabilitses are only offset in the statement of financial position knn. and ffily
when ther8 e￿sts a legally enfo￿able right to set off the recognised amounts and the tharity inter
eithgr to settle on 8 n8t basi5. or to realis8 ￿ a68et and Settle the liability simultanec4Jsty.
Financial assets afe derecognised when and only when a) the contractual rights lo the cash flows
from the finanoal asset expire or are settled. bl the charity transfers lo another party substantially all
of the risks and rewards of ownership of the financial asset. or cl the charity, despite having retsined
some. but nol al. 51gnifi¢ant risks and rewards of ownership, has transferred control of the asset to
aTh)ther party.
Financial MabHilies are dere4>Jgni88d only Ythen the obkgation speclfied In the ojntract is discharged,
Izncelled or expires.
Page 18

The Barnstaple Bridge Trust
Notes to the Flnancial Statemonts for the Year Ended 31 December 2023
(continued)
Inveslments in non-converbile preforence shares and r￿n-putt8bIe ordinary or preferenc& shares
(where shares are publKJy traded or their fair value is reliably measurable) are measured at fair value
through profft or kjss. Where fair value cannot be measured reliably, investments 8re measured at
cost18ss impainnenL
Investrnents In subsidiaries and associates are measured at ts)st less impaimient. For inveslments in
subsidiaries acquired for ¢￿SIderatiOn induding the issu8 of shares qualifyng for merger reli8f. cost
is measured by reference to the nominal valuo of the shares issued plu5 fair value of other
considgraknn. Any premium is ignored.
Fairvalue moasurement
The best ev¢(lence of fair vakje is a quoted for an ￿entiCal asset in an adive markeL When
quoted rKices are unavailable. the pite of a recent transaction for an identical a&%et provkles
evidence of fair value as long as th8re has not been a signfficant change in economic circumstances
or a significant lapse of time sin¢e the transactton took place. If the market is not active and recent
transactions of an identical asset on their own are not a good estlmat8 of fair value, the fair value is
estimated by using a valuatlon tackniquo.
2 Income from donatlons and legacies
Total
2023
funds
Gtants received
5.000
Unrestrictod
funds
General
Restrlcted
lund8
Total
2022
Samaritan Grants
600
200
800
3 Inc¢>me from othgr tradlng activiiles
Unrestrl¢ted
funds
General
Totsl
2023
Rent receivable
Charges recovgrable
242.272
3,217
245.489
242.272
3,217
245,489
Unrastrictsd
fund$
Genornl
T¢)tsl
2022
Rertt re￿}vable
Char9es Tecoverabl8
226,264
226,264
227,948
227.948
Page 19

The Bamstaple Bridge Trust
Notes to the Financlal Statements ft¥r the Year Endod 31 December 2023
(continued)
4 Investm•nt Incom•
funds
G•n•ral
Total
2023
COIF Income and Dividends
Intsrest recaivable on bank deposiis
6.192
4.276
6,192
4,276
10,468
10,468
Unrestrieted
funds
Genoral
Totsl
2022
COIF Income and Divid&MIg
6.972
6,972
5 Other Income
Unrestricted
funds
Gongral
Total
2023
Othor income
72,605
72,605
6 Expgndilure on charilablo activltles
Unr•strl¢tsd
funds
General
Total
2023
funds
Charitsble 8cUvlties
Grant funding of activthes
AJILxated SUkV)rt costs
199.783
5.000
5.846
204,783
86,380
297,(Ki9
286,163
10.846
Unrostrfctod
funds
Goneral
funds
2022
Charli8ble adivil*s
Grant fundiw of actNslie8
located supwjrt costs
243,(X)8
1,750
66.484
243,008
8.154
66,484
317.646
311,242
6.404
Page 20

The Bamstaple Bridge Trust
Notes to the Financial Ststernonts for the Year Ended 31 December 2023
(continued)
7 Analysls irf support costs
Total
2023
Totsl
2022
Staff costs
Audit fees
c(￿l￿nIcation and IT
Finance costs
Payroll costs
Postage, telephone aThJ stationery
General costs
InsutancA (Office)
Insurance (Trustees)
Recruitment fees
47,358
4,380
102
816
3,549
8.120
110
2.398
5,937
103
902
66.484
8 Grant4naking
Analysls of grants
Grants to Indlvidua
2023
2022
5.846
8.154
9 N•t In￿mIng10Utg0lng resour
Nèt inoJmlntylout9Jing) resourt*s forthe year indude:
2023
2022
Gainsnosses on invesknent
19.984
27.982
Page 21

The Barnstaple Brldge Trust
Notes to thè Flnancial Statsments for the Y•ar End•d 31 Decemb8r 2023
(conllnued)
10 Twstoes remuneratlon and expanses
No remunerati(￿. beneffts or pension contTlbutions were paid to, rff for, ary Irustee for thelr seryices
as trustees but durtng Ihe year one tnjstee was pald in respect of thelr employThent with the charity.
During the ￿r. the trust￿ receSved rernunern￿Qn totslmw £3.420.
Expenses are reimbursed to Twstses upon wodu¢Aictrn of rwxipts cf mileage claiins. the Trustees
have Public Liability Insuran￿ vthich indemnifiès thern Ythlst at the Charity premises and arywhera
within the UK whilst ￿r￿ng out Chaiity work of a cleri￿1 nature. The Trustees also have general
indemnity Insuran￿ which is not limited to decisions mad9 on the premises. The premium for the ye
ermled 31 December 21)23 w88 £90212022: £2,129)
11 Staff costs
aggr8gate payroll costs were as follows:
2023
2022
Staff costs during yur were:
Wagès and salaries
Pension costs
76.545
453
55,660
76,998
55,826
The monthly average number of persons (lndl￿1ng senior management I leadership team) employed
by the chartty durirrfJ the par was 7 {20Z3:6} The average number of full-lime gquivalent ernployees
as as follows:
2023
No
No
Administralion. ￿OUntant Pa￿ent of grants
) employee received em(Auments of more Ihan £60.000 during the year
12 Audllors. remun?ratlon
2023
2022
Audit of the financial slat8ments
3.000
Pagg 22

The Barnstaple Bridge Trust
Notes to thè Flnanclal Statements for the Yoar Ended 31 December 2023
(continued)
13 Taxatlon
The cknarity is a regL8tarod charity a￿1 18 therefore oxemptfrom taxation.
14 Tanglble Ilxed aG￿ts
property
Total
Cost
At 1 January 2023
Al 31 December 20¥3
3.449.(M)0 3.449.000
3,449.(XXI 3.449,000
Depro¢latlon
At 31 Decewnber 2023
Net book valug
At 31 December 2023
3,449,000 3.449,0(KJ
3,449.000 3,449.0(KI
At 31 December 2022
The freehold propertres ale held at Valuation. A forni81 valuatN)n was iy)mpleted in August 2023 by
Stuart EM Smilh FRICS frijm Underwood Wright Chartered Surveyors.
Pagg 23

Tho Barnstsple Bridge Trust
Notes to the Financial Statemonts for tho Year End￿ 31 December 2023
(contSnued)
15 Flxed asset In￿strnents
Invostments
Total
Cosl or Valuation
At l January 2023
Revaluatw)n
214,672
19.984
214,672
19.984
At 31 December 2023
234,656 234,656
Net book valuo
At 31 December 2023
234.656
234,656
At 31 December 2022
Financial assets held at fair value
214.672
214,672
Capltal Endowment Fund
The holdln9 at 31 December 2023 was 11,365.88 units in the COIF Investment Fund Income Unlts
2nd are s18ted at market value of £225,556. The historic cost of the holding L% £190,711.
Rovonue Resorv• Fund
The holding at 31 Oecember 2023 was 36.69 units in the COIF Chwities Accumula￿1 Fund and aré
ststed at the market value of £9.1￿ as at that date. The historical value of the h¢*ling is £6.959
16 Dobtors
2023
2022
Trade debtors
Prepa￿￿ents
Olher debtors
3,322
9,406
5,OOD
27.763
8.974
340
17,728
37,077
Page 24

The Barnstaplo Bridge Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
(contlnued)
17 Credltors: amounts falling due wllhln one year
2023
Tr&le credrtors
other (¥editors
Accnjals
t)eferred income
18,195
65,348
12.771
18.917
22,410
15.539
49,883
103,750
2023
2022
Deferred incoma at 1 January 2023
Resources deferred in the period
Amounts releasad from prevlous periods
15.539
18.917
15,539
8,140
15.539
8.140
15.539
Doferred irK¥Jme at year end
18.917
18 Funds
Balance
recognised
at31
January Incomlng Resources
galnsl December
2023 resources •xpondod TrnTr5fers {los$es)
2023
Unrestrlcted funds
General
General fijnds
Repairs and R8novath)n
Fun(ts
Capltsl Match FuThling -
Arts Council England
Cawtal Ringfe￿e - Art
Councl England
41,070 328.562 (281.7891
8.009
1.002
96,854
8.009
18,0091
150.000
(3,gLKI)
146,100
18,000
217.079 328.562
17.526
286.163
1.002 260.480
Restrlct•d funds
Samaritans Grant
Bln store
21,381
(5,8461
5.000
15.535
21.381
10.846
15.535
Page 25

The Bamstaple Bridge Trust
Notes to the Financlal Statsmonts for the Year Ended 31 December 2023
(continued)
Balance
Other B•lan¢e
reu)gnised
at31
JanU￿Y Incomlng Resources
galnsl De¢omber
2023 rosourcas wwnded Transfers {1056esl
2023
Endowrno￿ funds
Endowmerrt fund Capital 3.449.0(Kl
EThJowment fund
206,574
3.449.000
225.556
18,982
18,982 3.674.556
19,984 3,950.571
3.655,574
3.894.034 333.562
Total funds
297.(K19
Bal¥n¢È
Other
Balan¢•
at1
rocognlsed
at31
January Incomlng Rosourcg5
gainsl Docembgr
2022 resou￿0$ gxpendod Transfer5 (losses
2022
unrnStrl¢￿ funds
General funds
Repairs and Renovatb
Funds
ca￿￿1 Match Funthng -
Arts Councfl England
Capital Ringfence- Art
Council England
268,487 235,520 (294.136> {168.OLK))
(801)
41,070
25.115
{17,106)
8.009
150.0(XI
150.000
18.000
18,000
217.079
311.242
293.602 235,520 L
R•stri¢ted fvnds
Samarbtsns Grant
27.585
16,404)
21.381
Endowmerrt fvnd Capltat 4.000,000
Endowment fund
233.755
(551.000) 3.449.0
27.181
206,574
3.655,574
3.894,034
4,233.755
4.554.942 235.720
578,181
Total funds
317,646
578,982
Page 26

Tho Barnstsple Bridge Trust
Notes to the Financial Statemonts for the Year Ended 31 December 2023
(continued)
Unresblcted funds
The Repairs and Rerw)vallon fund h85 bgen deslgnated to be used for specific repalrs and
ronovalions.
The designation of the Capital Match FundirrfJ is in line with the bid to the Arts Council England and Is
to cover the shortfal in match funding for th8 bid. The 8dditional £18,000 has b8en designated to
cover eX￿nseS including. but not limited to planniTrJ suNeys, fees arvj othar incidental costs pertinent
to proceeding wth the plannrwJ apk4lca1￿.
Restricted
nd5
Tho Samaritan grant fund ha8 been rethCE￿ to be used for thg Samaritan Grants payable from 2022
The bin store fund relBteg to grants received towards work on a bin store to the sKle of BTwJge
Buildings.
Endowment fiJnds
Th8 Capttal EndovKnent Fund represents Ihe inveslments as shown in Note 15. Income arlslng on Ihe
fjnd(Mment fvnd can be used in accordance with oblects of the charty and b Induded as unrestriGled
income in the statement of financbal activities. Any capital gains, or loss* fom part of the fund.
The Pernanent Endrnvmont FuThJ represents the v*ation of the investment woperti8s hebj by the
tharity. In(￿me ¥ising on this fund can be used io suppwt the chaiws general objeL*s.
19 Anatysis of net assgts betwo8n fund8
Total fvnd5
a131
DeGomber
2023
Vnrestrlcted
funds
General
Endowrnent
funds
Pennanenl
Rostrlctsd
fuDds
Tangible fLxed assets
Fixed asset investrnents
Cu￿ent a&sets
Curr8nt liabl￿e8
3,449,OlXI
225.556
3.449.000
234,656
316,798
49.883
9.100
301,263
49,883
15.535
Total net assets
260.480
15,535
3.674.556
3,950.571
Page 27

The Barnstaple Bridge Trust
Notes to the Flnancial Statoments for tho Year Ended 31 December 2023
(continued)
Tolal funds
at31
Dacember
UTrrestrlct4d
fvnds
General
Restrlcted funds
funds
Pemwnerrt
Tar#Jible fixed assets
Fixed asset investments
Current assets
Current liabitrbes
3.449.(KJO
2C6,574
3.449,000
214.672
334,112
103,750
8,098
312.731
103,750
217.079
21.381
net assets
21.381
3,655.574
3.894,034
20 R•tst•d party transactlons
There were M r8lated pwty transactkjns h the year.
Pagg 28