The Darlington & Stockton Times March 1989 contains the following article:

"A village fund set up to build a monument after the 1939-45 war, now has more than £3,000 - but the money can't be spent.
Mr. Basil Turner, Trustee of the Peircebridge Social Fund which was set up to build a village hall in memory of the local people who died, presented a report on the fund at the parish meeting on Monday.
It was decided some time ago not to build the village hall because the church hall was adequate for the needs of the village, so the money was invested and now totals £3,448.72.
Mr. Turner said it had been discovered during the year that the fund was a registered charity and, as such, subject to the rules of the Charity Commission.
One of the rules was that if anyone could prove they had donated a sum of money and they disagreed with the new use to which it was being put, they could ask for it back. This had to be advertised in the local press before any of the money could be given in grants.
A resident of the village suggested that when this had been done, some of the interest on the money should be spent on the church hall, as it was used by all the organisations in the village."

The same newspaper dated 02/06/1990 states that permission had been granted to turn a piece of land at Bridge End into a Garden of Remembrance.