Basic Maths to the rescue.
The same for Bembridge: 296 = N50.67804 and AFE = N5040.68
The AFE Guide is actually saying
North 50 deg 40.68 minutes.
To convert 40.68 minutes into decimal Degrees
40.68/60= 0.678
So North 50.678. The 296 and AFE are in agreement.
Hope this helps.
2D