With lost property, getting it back to people quickly and before it's out-of-area is far better than letting it get logged into a system which sends it to a central point - be that Bristol (GWR▸ ), Waterloo (SWR» ) or train termination dependent (Cross Country).
GWR can be termination dependant. A few years ago we were returning from London on a S Wales train, changing at Parkway for Yatton. My wife left her bag on the GWR train. We had to collect it from Newport as it had been handed in at TfW station. At least it was Newport and not Swansea.