Barnstaple in the 16th and 17th centuries greatly benefited the town. The wealthy merchants that this trade created built impressive town houses, some of which survive behind more recent frontages—they include No. 62 Boutport Street, said to have one of the best plaster ceilings in Devon. The merchants also built several almshouses including Penrose's, and ensured their legacy by dedicating elaborate monuments to their families inside the church. By the 18th century, Barnstaple had ceased to be a woollen manufacturing town, which was replaced by Irish wool and yarn, for which it was the main landing place; the raw materials were
Lynton and Barnstaple Railway Trust negotiations, was purchased by the Lynton & Barnstaple Railway Company on behalf of the "Lynton & Barnstaple Railway Association". Following further negotiations and purchase of other parts of the trackbed, Woody Bay is now the centre of operations for the restoration project. The former station at Chelfham is now also owned by the Railway Company. The Association was absorbed into The Lynton & Barnstaple Railway Trust which was first registered with the Charity Commission for England and Wales on 22 September 2000. The Trust has to date received only a small amount of grant funding, the vast majority of income