Company Registration No. 03439192 (England and Wales)
ChaTIty Reglstratlon No. 1064643
THE CLASSIC BOAT CENTRE TRUST
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025

THE CLASSIC BOAT CENTRE TRUST
{A COMPANY LIMITEO BY GUAK4NTEE}
CONTENTS
Page
Legal and administrative information
Board of Trustees report
Independent Examiners report
Statement of finanaal aclivtties
Balance Sheet
N¢)tg3 to the a￿unt$
&17

THE CLASSIC BOAT CENTRE TRUST
{A COMPANY LIMITED 8Y GUARANTEEI
LEGAL AND ADMINISTRATIVE INFORMATION
Address
Medina Village,
Medina Road.
Cowes
Isle ofw￿h1
P0317LP
Trustees
J G Amokf (appointed 2110312025}
N J Coleman (appointed 13112r2024)
S M F Fieklhouse lapkK>inted 1610512025)
F FKJueiredo-St(w (resign￿ 19109120251
D J L Fontana
T Harilirbg (reslgned 1311212024)
W S G Lawren
M A Loftus (appointed 21103121f251
M McNeill {resigned 1610112026)
Dr L V von Schullhess Rechberg Preston
S Symons (resigned 13112r20241
Secretary
Mr W S G Lawrence
Governlng Instrument
Artides ofAsscoation a(k)pted 1st March 2020
Charitable Status
The Trust ts a registered Charity No. 1C64643
Company StatUS
The Trust is a limited company No. 03439192
Accountants
re (South) LLP
9 St John's Place
Newport
Isle of Wghl
P030 1LH

THE CLASSIC BOAT CENTRE TRUST
(A COMPANY UMITED BY GUARANTEE)
BOARD OF TRUSTEES REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Govomlng Document
The charity is a limited company, limited by guarantee, as defined by the Companies Act. The charitable company is
governed by its Memorandum of Association as incorporaled on 24 Seplernber 1997 as amended by the adoption of
new Articles ofAssociation on 1 March 2020 and was registered as a charity on 30 September 1997.
Objectlves and Alms
The objects forwhith tho Trust is established are to advance public education in:
1. Hlsloric boats and thelr role in the enhancement of western civilisation-,
2. The heritage of shipbuilding and the design and construction of marine craft on the Isle of Wight and
jacenl waters..
3. Maritime heritage and archaeology of the Isle of Wight and adjacent waters.
SIGNIFICANT ACTIVITIES AND ACHIEVEMENTS IN THE YEAR
The year saw a wide range of posilive initiatives and meaningful progress across the Museum. Visitor numbers
remained stable throughout the period. reflecting broader trends observed at comparable visitor allractions across the
istand.
The 2025 season opened with an exhibf(ion in the Gallery dedicated to HMS Cavalier. the sole suNiving Royal Navy
destroyer from the Second World War, built in 1944 by J S White in East Cowes. The exhibition wa5 generously
supported by the Chatham Historic Dockyard Tiust and attracted considerable interest, with over1CQ guests attending
the opening evening. The exhibilvjn was the Tesult of six months of dedicated preparation by the volunteer team,
whose commilmenl and expertise were instnjmenlal in biinging Ihl8 important piece of naval history to lrfe.
&gnfficanl remedial work was undertaken at the Boat Shed, including repairs lo the roof slrudure. Clearance of the
surrounding land adjacent to the Hammerhead Crane has greatly enhanced the visitor experience, enabling the base
of this important historic monument to be seen for the fifsl time in many years. Improvements to the presentation of
the museum boat Cdlection have also been well received by visitors.
The museum's education and research facilities t￿ntinUed to fulfil a vital role during the year. More than 350
schoolchli dren engaged wilh the museum's programmes. ether through on-site ￿SIts to the museum and archives or
via outreach adivities delwered direct]y within s¢hoofs. The Trustees remain committed to expandin9 this aspect of
the Museums work.
A signifieanl achievement at tho close of thg financial year was the award of an Arts Coun￿[ Grant to fund a Scoping
Study for the development of a dedicated Mariiime Herttage site cenlred around the Hammerhead Crane al Medina
Village. the museum's current I￿atiOn. This ambitr'ous pioject encompasses both the creation of a pemjanenl home
for the Classic Boat Museum and the restoration of the Hammerhead Crane itself.
The Scoping Study is eypect&l to be completed by mid-2026. Subject to a p(Isitive outcome. the next phase will
involve an application to the Heritage Lottery Fund lo devglop a fully detailed and costed project plan. The Trustees
regaid this as a transformational cpportunity forlhe museum and forthe weservalion of the island's maritime heritage.

THE CLASSIC BOAT CENTRE TRUST
(A COMPANY UMITED BY GUARANTEE)
BOARD OF TRUSTEES REPORT (Continued}
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The museum operates entirely thrtyjgh the dedication of its volvnleer base. and the Trustees wish lo express their
sincere gratilude to the whole team for their Continu￿ support and hard work throughout the year.
Trustee r￿ul1Ment during the year was part￿I?rfY $uccessfiJl. with four new Trusteesjoining the Board. broadening
the range of skills and experfence avallabl& to the organisation.
Fdlowing the year end, the Chaimian, MaTk McNeill. stepped down from the Board after 11 years of outstanding
Serv[￿. During his tenure. Mark made an immense contribution lo the development and financial strenglhening of the
museum. The Trustees are delighted that he will continue to support Ihg organisation in the rde of Honorary Pfesident,
th a particular focus on fundraising. Michael Loftus has assumed the role of Chair.
FINANCIAL REVIEW AND RESERVES
Total income for the year 8mounted lo £78.72412024.' £96.8741. Costs of generating funds amounted to £489 {2024=
£652}, and the costs of charitable acliwties amounted to £126,29712024.. £119,320) of which governance costs were
£2.550 {2024'. £3.3(101. The overall def￿11 was £48,06212024.. deficit £23,098), ￿th restiicted funds remaining at
£39.53812024.. £43,335} after some spend in the year on the new museum project. The overall unrestricted reserves
decreased to £70,094 <2024.. £114,359)-
The Charity is working on a development project to ensure the museum has a secure and pemianent home for the
bng-lerm future, and has designated £25,000 towards this project in the near ￿ture. The Tfuslees consider it prudent to
maintain btheen 6 and 12 months gperating expenditure in reserves. The undesignated free resetves at the year end
was £10.679 (2024.. £54,526). Truslees ar& implementing cost saving measures and a new lickel pricing 8lrdlegy.
Trustees, Responslbllltles
The trustees, who are also the directors of The Classic Bo81 Centre Trust for the purpose of company law. are
responsible for preparing the Trustees, Report and the finanaal statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom General￿ Accepted Accounting Praclicel.
Company Law require8 the trustees to prepare finanaal statements for each financial year which give a true and fair
view of the slate of affairs ol the chaity and of the incoming resources and application of re80urces. including the
income and expendilure. of the chafttable company for that year.
In preparing these financial slaements, the Irijslees are required to..
Select suilable accounting policies and then apply them consistentty..
observe the methods and principles in the Charities SORP,.
make judgements and estimates that are reasonable and prudent., and
prepare the financial Stat￿￿ents on the going concem basis unless il is inappropriate to presume that the tharity
will continue in operation

THE CLASSIC BOAT CENTRE TRUST
COMPANY UMITED BY GUAPANTEEI
BOARD OF TRUSTEES REPORT Icontinued)
FOR THE YEAR ENDED 30 SEPTEMBER 2026
The trustees are resP￿SIble for keeplng adequate accounthw records that dlsclose wlth reasonabl8 accurdQy at
time the financlal of Ihe charity and enable them to ensure that the financial Statew￿nts compty wtlh the
Compan￿$ AGt 20r*. They ara also responsible for safeguarding thfr assets of the tharity and henc* fur takÉng
reasonable steps for the pieven11￿ ano delecrion of fraud and other Irregularitles.
AFgroveO by order of the board oftFUStees and *ned on its behall ty:
Zq- H&Y Zoz

THE CLASSIC BOAT CENTRE TRUST
{A COMPANY UMITED BYGUARANTEE)
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CLASSIC BOAT CENTRE
TRUST FOR THE YEAR ENDED 30 SEPTEMBER 2025
I rep(yt to the charity trustees on my examination of the accounls of the company for the year ended 30 Sept￿ber
2025. which are sel out on paJes 6 to 17.
Responslbllltleg and basls of re￿rt
As the chaiity tnjstees oflhe cth)pany land also its directors fcf the purph)se$ of ccfflpany lawl you are responsib]e for
the preparatKJn of the accounts in accordance ￿th the requirements of the CompaniesAct 20061'lhe 2006 ACY).
Having sati%fied myself thal the accounts of the eornpany are not required lo be audited undgr Part 16 ofthe 20[￿ Act
and are eligible for independent examination. I report in respect of my examination of your company's accounts as
carried ￿t under section 145 of the Charthes Act 2011 {'the 2011 ACV). In carrying out my examination I have foll¢yNed
the t1￿CtionS given by the Charity Commission under section 145151{bl of the 2011 Act.
Independent examinerfs statement
I have completed my examination. I confirm that no matters have come lo my attention in connection with the
examinafK)n giviro rAuse tr) belwe that in any material respect
accounting records were not kept in respect of the compary as r4uired by seCtm￿ 386 of the 20C6 Ac( or
the accounts do rDt accord with those ￿COrdS., or
the accounts do r￿t compty with the accounting requirements of section 396 of the 2006 Act other than any
requirement that the accounls give a 'lrue and fair view whith is not a matter considered as part of an
independent examination.. or
the accounts have not been prepared in accordance with the methods and principles of the Statement
of R￿mmended Prathts foracojunting and reportiThJ by charities applicable lo charities preparing their
aco)unts in 8(Ythdants with the FinancHI Reporting Standard appluble in the UK and Republic of Irdand IFRS
d02}.
I have no cOn￿mS and have co￿£ across no other nwtters in ccmnection with Ihe eXa￿•natiOn to vthich attention sh)uld
be drawn in this report in order to enatr￿e a proper understaThJing of the acwunts to be reaC￿ed.
OOfL
LLf
Vlcky Drayton ACA
Foi and on b8half of Moore ISouth} LLP
Chartergj Accountants
9 St John's Place
Isle of Imghl
P030 1 LH
Dated.. l.Q...sV￿￿.TrQ.u￿

THE CLASSIC BOAT CENTRE TRUST
{A COMPANY LIMITED BY GUARANTEE}
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Unrastrlcted
Funds
2025
Reslrlcled
Funds
2025
Total
Funds
2025
Total
Funds
2024
Notes
Income and endowments from:
Donatlons and kgaLies
46.401
4,000
50,401
61,183
Charitable adimtigs
25.621
25.621
33,027
Investment Inccffte
1,978
1,978
2,664
Other income
724
724
Total Income and 8ndowm8nts
74724
4.000
78,724
96.874
Expendilure on:
Raising funds
489
489
652
Charitable actwitles
117.874
8,423
126,297
119,320
Totsl expenditure
118.363
8A23
126.786
119.972
Net Incomel{expendlture) forthe year
143,6391
(4,4231
148.0821
(23.098}
Transfers btheen funds
{626)
626
Net Movement In funds
(44265)
13,797)
148,062)
(23,0981
Reconciliation of funds:
Total funds brought forward at 1 October 2024
114.359
43,335
157,694
180,792
Total funds carrled fonvard at 30 Septomber 2025
70,094
39,538
109,632
157.694
The statement of financial actiwlies indudes 811 gains and losses in the year.
The notes on ￿ge8 8 to 17 fom part ofthese accounts

THE CLASSIC BOAT CENTRE TRUST
IA COPAPA14Y UMITED BYGUAPAKfEE)
BALANCE SHEET
AS AT 30 SEPTEMBER 2026
2026
2024
Fixèd ass•ts
Taryible assets
Hertlage assets
1.249
33.166
8.16
33.186
34.418
34,833
Curnnt
750
3.279
Debtor5
Cash at bank In hand
10
100,381
138.089
Cuff•nt Ilabllill•s
Credrtors.. Amunts fauino due wthin
one year
11
Not curr•nt
109,632
157,694
Funds
Restrfct8d- Museum Davelopfftht Fu
12
UnrestiKted- General
Unrestsi¢ted- Deslgnated Museum DeYek￿nt
89.359
25.0
25C
109,632
157.694
For1￿ financ4al year in question the (x)mpany was enlilled to 8xenwtion underseolion 477 ofthe C￿nIes*￿ 2006
relaung to small ¢ompanies. No rr¢mber5 have required the c4)mpany to obtaln an au¢it of ￿ aco)unts lor the year In
quesllon In accordance with sedkn 478 ofthe Companies 20rA.
The dlrectors acknm￿edge their respOn￿bilitY for ccwnr*lng wth the requSrements ofthe Ad respect to a￿CUnth
fecuds and forthe preparatiDn of aco)unts.
These ¥o)urts have b￿n pwted In aoyjrdance wlth the provlstons appll¢abte to ¢ompardes sutye¢l to the srrvaH
oJmpantes' reglme.
The finAndal statemerts on page5 6 to 17 were approved by lh& Boord ofTrusl•es and sKJned on its behalf by:
M Loftus
Twstee
Company rnglstraiion numhr. 03439192
The Th)tes on p￿eS 8 to 17 form part of Ihw aoJ)unls
Zo- ￿￿4..[.6Z¢....

THE CLASSIC BOAT CENTRE TRUST
(A COMPANY LIMITED BY GUARANTEE}
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Accountlng policies
(al General infomiation and basis of praparation
The class￿ Boat CenlTe Trust is a charitable company limited by guarantee in the United Ksrod¢)m. In the event of the
chaTity being wound up, the liability in respect of the guarantee is limited to £1 per member of the djarity. The address
of the iegistered office is given in the charity infomialion on page 1 of these financial slalements. The nature of the
charity's operations and principal activities are to advance public education in historic boats and their role in the
enhanCeff￿nI of Westem Cwllvzat￿n.
The charity constitutes a public benefrt entity as defined by FRS 102. The financial stslernents have been prepared in
accordance with Accounting and Reporting by Charities: Stalemgnl of Recommended Practice applicable lo charli￿$
preparing their accounts in accordance with the Financial Reporting Standard appli¢able in the UK and Republic of
Ireland IFRS 1021 issued in Ocld)er 2019, the Charities Act 2011. the Companies Act and UK GeneraltyAccepted
Pr&*ce.
The financial statements are prepared on a going concem basis under the historical cost convention, modffied to include
certain items al fair value. The financial statements are prepared in slerting. which is th8 furtctional cuirency of the
charity and rounded to the nearest £1.
The signrficanl accounting policies applied in the preparatron of these financial statements are set out below. Theye
policles have been consistentty applied lo all years presented unless olherwise staled.
Ib} Funds
Unrestiicled funds are available for use al the discretion of the truslees in furtherance of the general objectives of the
charity and which have not been designated for other p￿r￿se$.
Designated funds comprise funds whieh have been set aside al the discretion of the Trustees for speuftc purposes.
The purposes and uses of the designated funds are sel out in the notes lo the financial slalemenls.
R8slricted fvnds are subject lo Specif￿ conditions by donors or grantors as to how they may be used. The purposes
and uses of the restricted funds are sel out in the notes to the financial statements.
Icl Income rocognition
For donations to be recogntsed the charity wll have been notified of the amounts and the settlement date in writing.
If there are conditions attached lo the donation and this requires a level of performance before entillemenl can
be obtained, then income is deferred until those condrtions are fulty mel or the fuifilment of those condition5 is wtthin
the control of the charity and it is probab￿ that they will be fijlfilled.
Donated facilities and donated professional ServI￿S are recognised In Income al their fair value when their econcfflic
benefit is probable. it can be measured reliably and the chaity has control over Ihe rtem. Fair value is delerynined on
the basis of the valve of the gift lo the charity. For example. the 8mounl the charity woukl be wlling to pay in the open
marf(et for such f8ulities and servKes. A corresponding amount is recognised in expenditure.
No amount is included in the financBI statemer¢ts for volunteer time in line wth the SORP {FRS 102). Further detail Is
given in the Trustees. Annual Report.
Frxed asset grfts in kind are recognised when retsivable and are included at fail value. Thay are not dgferred over the
lrfe of the asseL

THE CLASSIC BOAT CENTRE TRUST
IA COMPANY LIMITED BY GUAK4NTEE}
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
{c) Income recognition {continued)
For legacies. entitlement is the eailier of the charity being notified of an Impending distribution or the legacy being
recewed. At this FKsinl income is reCognis￿. On occaston legaueswill k notified lo the Charty howeveril is not wssible
lo measure the an>Junt exp&ted to be d1stribut￿. On these ctcasTons. the legacy is treated as a contingent asset and
di￿08ed.
Income from trading activities in¢ludgs income eamed from fundraising events and trading acttvlttes to raise funds for
the charity induding the donation from the trading subsidiary. Income is ieceivwl in exdJang& for supp￿Ing goods and
services in order lo raise funds and is recognised when entitlement has occurred. The donation from the tradin9
company is treated as p8trJ Immediate￿ as the ￿ entities share an operating bank account
Investment income is eamed through holding assets for investment purposes suth as shares and propety. It Includes
diwdends, inleiest and rent. INhere tt is not practicable to identify investment manag8menl costs incurred within a
scheme wilh reasonable accuracy the investrnent income is report&J net of these costs. 11 is induded when the amount
can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent
income FS recognised as the charty's right to re￿1ve payment is estsblished.
(d) Expendlture recognltlon
All expenditure is accounted for on an 8￿rualS basis and has been classffied under headings that aggr￿ate all costs
related lo the category. Expenditure is recognised where there is a le9al or conslruclive obligation lo make payments
to thtrd parties. il is probable that the settlement will be required and the amount of the obligation can be measured
reliably.
Irrecoverable VAT is charged as an expens8 against the actwty forwhich expendiiure aros
{el Support costs allocation
Supwrt cosls are those that assist the Work of the charity but do not directty represent charitable activities and include
office costs. govemance eosts. adminislralive payroll costs. They are incurred directty in support of expenditure on the
objects of the charity and include project management carried out al Hoadquarters. Where support costs cannot be
direclty attributed lo parbcular headings they have been allocated to cost of raising funds and expenditure on charilabl
Mlies on a basis consislenl with use of the resources.
Fund-raising costs are those Incurred in seèking voluntary contributions and do not include the costs of disseminaling
inforrnatton in support of the charilable activf(ies.
{fj Tanglble fixed assets
Tangible fixed assets are staled at cost lor deemed costl or valuation ￿s$ accumulated d6precialion and ac£umtJlated
impaimient losses. Cost indudes costs directty attributable to making the assel capable of operatin9 as intend￿.
Depreciation is provided on all tsngible fixed assets, al rate5 calculated to write off the cost, less estimated residual
value. of each asset on a systerrtatic basis over rts expected useful life as follows:
Leasehokl improvements
Heritage museum artifacts
Plant and machinery
25% reduclng bala[￿e
Not depreciated
250A reducing b￿an

THE CLASSIC BOAT CENTRE TRUST
(A COMPANY LIMITEO BY GUARANTEE)
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
(fj Tangible fixed assets (Gontinuedl
No dePr￿lation is provided in reSp￿t of the museum boats and artrfacts. as the Truste8s are of the view that such
depreciation would be immaterial, as it is part of the objectives lo preserve the exhibili¢)n for future generaiions.
Although this accounting policy is in aG￿rdance with the Finarscial Reporting Standard for Smaller Entitie5 {effectNe
April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets lo be
deprecialed. In the opinion of the directors compliance with the standard is necessary for the financial slalemenls to
grve a tNe and fair view.
(g) Horitagg assets
Heritage assets are tangrf)le assets of historica Importan￿ that are heky to advance the Charivs obpctwes of
preservalion and public atLess.
Heritage assets are recognised on the b￿an￿ sheet al c￿t where such costs have been incurred in th￿r acquisili)n.
Donated heritage assets are not capilalised where it is not practicable lo obtain a reffiab￿ valLtation, orwhere the cost of
dcing sowoukl be disproporbonale lo the benefits derived.
Assets are not revalued after initial recognition and are not depreciated. as the Trustees consider that the assets have
very bng economic lives and high residual values, and are maintained to a starKlard such that Iheirvalve is not malerialty
diminish￿ over tirne. Assets are, however, subject to impaimienl review where there Is an indication of loss in value.
AcquisTrtions are made primarily by donation or. occas￿1￿, purchase this is considered to furthof the Charity's
objectives. The assets 8re preseNed. ¢￿SeNed and managed in ￿Co[danCe with appropriate standards to maintain
their heritage significance.
A register of all assets held by the chariiy is available and the assets theMse￿S are accessible to the public with
prior agreement. Heritage assets are to be held for the foreseeable future.
{hl Investments
Investments in subsidkqri8s are measured at C￿St less impairrnenL
111 Stocks
Sl¢d(s are staled al tho lower of cost and estimated Selling price less costs to complete and sell. Cost includes all
costs of purchase. costs of conversion and other costs incurred in bringing stock to ils present I￿atIon and condition.
) DebtOTS and creditors receivable I payable wlthln one year
Debtors and ctedilors with no stated intefest rate and rec*ivaLile or payable within one year are recorded at Ifansaction
Pri￿ Arby losses arising from impaimienl are re￿gnised In exFenditura.
(k) Impalmient
Assets ncl measured at fair value are revTewed for any indication that the agset may be impaired at each balan￿ sheet
dale. If such indication e￿$t8, the recover8ble amount of the asset, or the asset's cash generating unil, is estimated
and compared to the carrying amounL Where the carrying amount exceeds its recoverable amount, an impairment
k)ss is recognised in profrt or toss unless the as5el is carried al a revalued amount where the impaimient loss is a
revaluation decrease.
10

THE CLASSIC BOAT CENTRE TRUST
{A COMPANY UMITED BYGUARANTEEI
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2026
{11 Provlslons
Provisions are recognised when the charity has an obligation at the balance sheet dal8 as a result of a past event, il is
prc4)able thal an oufflow of economic benèfrts will be required in setuement and the amount can bo religbly estimated.
Im) Tax
The charity is an exempt Charity within the meaning of schedule 3 of Ihe Charities Act 2011 and is ￿nSIdered to pas$
the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition of a charitable
company for UK cotporalion lax purposes.
Donatlons and logaclgs
Unrestrlcted
Funds
Restricted
Funds
Total
Funds
Total
Funds
2025
2025
2025
2024
Voluntary Income
Donations
Friends As%)ciats'on contribulN)ns
Gift aid
45.622
4.orxi
49.622
S9.007
779
779
46.401
4.000
50.401
61.183
The donation$ indude an amount in kind- this being for the rent of sheds 117 and 118 in Cowes Medina Village
for the Museum's B¢Jgt Shed and boat storage expenses, al a value of £38.68712024: £39.467).
3. Income from Charftabla Actlvltlgs
UnTe5tricted
Fund$
2025
Restricted
Funds
2025
Total
Funds
2025
Totsl
Funds
2024
Admissions and shop
Boat storage- space rental
13,384
13,384
20.345
25,621
25,621
33.027
Investment income
Unrestricted
Funds
2025
Total
Funds
2025
Total
Funds
2024
Deposit bank interest
1.978
1.978
11

THE CLASSIC BOAT CENTRE TRUST
IA COMPANY LIMITED BY GUARANTEE)
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
0th8r Incomo
Unrestricted
Funds
2025
Total
Funds
2025
Total
Funds
2024
Other ineome
724
724
Total expendlturo
Unrestricted
funds
2025
Restricted
funds
2025
Total
funds
2025
Total
funds
2024
Costs of generatlng funds:
Shop expendf(uie
Fundraising expenditure
291
291
198
472
180
Char5table a¢tlvStles:
Utilities. Securtty servi￿. Phone and broad band 6,580
Insuranee
5,224
Advertising and prcrfnoli?ns
5.738
Joint museums leaflel
Boat sh8d costs
Rent and service charge
General management costs
Admin expenses
IT. Computers and websiie
Bank charges
Travel and logistrcs
Accounting other services ind. under attrual
Depreciation
Boat Restorati
Repairs to boat sh￿j
Gallery expenses
6.580
5.224
5.738
7.600
5.300
9,101
2,324
7.246
57.586
16,698
5,151
68,118
3.722
299
3.513
5.151
68.118
3.722
299
3.513
2.337
97
2.168
1,682
414
2,168
1,682
414
2,696
557
273
10.438
2,277
10,438
10,7
8.423
4.205
Governance:
Accountancy- Independent examination
118.363
8.423
126.786
119,972
Overhead costs have been apport￿ed across cost categories in the accounts for the year ended 30 September 2025.
Govemance has been allocated lo the one charitable activity, which is the operation of the Cl85sic Boal Museu
There were no employees eamlng morè than £60,CKIO in the year. Total Trustees reimbursed expendiiure in the year
was £Nil {2024=£ Nill.
12

THE CLASSIC BOAT CENTRE TRUST
IA COMPANY LIMITEO BY GUARANTEEI
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Tanglble flxed assats
Plant and
Equlpment
Cost
At l October 2024
Adtir(ions
Disposals
14,579
AI 30 September 2025
14,579
Depreclatlon
Al l October 2024
Charge for the year
ReLgting lo dis[M￿lS
12.916
414
At 30 September 2025
13,330
Nat I￿k value at 30 September 2025
1249
Nel b￿k value at 30 Seplember2024
Herltage assets
Total
At 30 S*mber 2024- Restated
At 30 September 2025
33.166
HeritaJe A¥sets, included at W5t. comprise the exhbits oflhe CLassic Boat Museum W￿re costs were incurred in
their acquisition. There is no readily availabl8 valLTr8tion for donated toats or artrfacts because of their unique
nature and the disptoporbonate cost involved in obtaining a valualion.
The Museum has a colledion ofover 90 boats. fr(rtn classic yachts. motcthls. 8nd lffeboats. A list of boats on
dispky can be obtained fr(￿n the website: httpsJhw.cLgssicboatmuseum.comtheth5sic*oat.museum.
No depreciation has been charged in the current year.
13

THE CLASSIC BOAT CENTRE TRUST
IA COMPANY LIMITED BY GUARANTEEI
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Investments
2025
2024
Inveslrfftnl in subshdiary company
Summary profit and loss account Classic Boat Restoratlons Ltd
202S
2024
Tu[r￿T
Cost of Sales and 8dministralive expenses
Operating Pfofft
Distrtr)utv)n made yearto class￿ Boat Centre Trust
Retained in the subsidiary
The assets and liabilities of the subsbjiary were:
Current assets
Credith: amounts falling due within one year
Total assets less current liabilities
Aggregate share capttal and resorves
The Company had not traded thr(yJghout the accounting penod. Payments ￿ boat storage are paid to the Trust.
10. Debtors
2025
2024
other debt￿$
Grants re￿Nable
7.109
400
3.279
7,509
3,279
11. Credito￿. Amounts falllng dug wlthln ong year
2025
2024
Amounts owed to group undetskings
Service charge arwj other payab
Other creditors and xcnjals
15.895
9,605
25,165
15.228
14

THE CLASSIC BOAT CENTRE TRUST
IA COMPANY LIMITED BY GUARANTEE)
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
12. Movement In funds - Current year
At
1 October
2024
Restated
At
30 September
2025
Incoming
resources
Outgoing
resources Transfers
Genèral fund
Designated Museum Development
Fund
89,359
74,724
(118,363}
{626)
45.094
25.000
25,000
Restrlctsd funds
Museum Development fund
Audience Grant project
43.335
13,7971
39.538
626
Total funds
157,694
78.724
{126.786}
109.632
Movoment In funds- Comparative year
At
1 October
2023
Restated
At
30 September
2024
Reststed
Incoming
resources
Outgoing
resources Transfers
General fund
Designated Museum DevelLyment
FurKI
113,094
94,474
{118,2091
89.359
25,000
25,0
Restri¢t9d funds
Museum Development fund
Total funds
180.792
98.874
1119.9721
157,694
The Trust had two restricted projects during the year, one relating to archiving costs and the other in
relation to collating and analysing existing audience data.
15

THE CLASSIC BOAT CENTRE TRUST
IA COMPANY LIMITEO BY GUARANTEE)
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
13. Analysls of net assets between funds
Unrestrlcted
Funds
Restrlcted
Funds
2025
Total
Funds
2025
Unrestrfcted Restrtcted
Funds
Funds
2024
2024
Totsl
Funds
2024
Restated
Fixed assets
St(￿k
Debtors
Cash at bank and in hand
Creditors and accruals
34,418
34,416
34.833
750
3,279
90.725
34,833
750
3.279
134,060
22
7,109
53.334
400
39.538
7,509
92.872
43,335
69,694
39,938
109,632
114,359
43.335
157.694
14.
Flnanclal Assets and Llabilltles
2025
2024
Finanaal assets C￿mprise debtors 8nd cash and bank balan￿S
1CQ,381
137.339
Finanaal liabiliiies comprise creditors and accruals
75,216
122.111
15.
Opgrating Lease Commttments
Th8 Trust has ongoiny c£mmitments In respect of service charges as part (rfthe galkry lease payable ty instalments.
2025
2024
Under one year
Btheen one 8nd five yea
Afterfwe years
6,026
24,104
23.602
29.628
35,654
16.
Prlor perlod adjustment
During the year, the Trustees have rewewed the accounting p0￿cY applied lo heritage assets and deteMiin￿ that the
wevious valuatiC￿ basis adopted was not apprcpriate.
Heritage assets have been restated to histortc cost where such cost information is avaikble. This has resulted in a
r&luction in the carrying value of heritage assets at the start of the comparatNe peiiod of £391.834 and unrestricted
funds.
The T￿￿tee$ consKler that the pli0rvaluat￿ of heritsge assets Yras not reliable due to the 5pecialised and unKiue
nature ofthe collection and the absert￿ of 8 reliable mathel for such items. Furthemiore. the cost of obtaining
valuations would be disproportionate to the benefit deTNed.
Comparative figures have been reststgj xcordingly.
16

THE CLASSIC BOAT CENTRE TRUST
IA COMPANY UMITED BY GUARANTEE)
NOTES FORMING PART OF THE FINANCIAL STATEMENTS (Continued)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
17. Comparatlve ststement of financlal actlvltles
Unrestrlcted
Funds
2024
Rgstrfctgd
Funds
2024
Totsl
Funds
2024
Income and endowments from:
Donations and legacies
58.783
2.400
61.183
charitab￿ adhf(ies
33,027
33.027
Investment income
Other inwng
Total income and endowmeTrts
94,474
2,41)0
96￿74
Expendlture on:
Raising funds
652
652
charIab￿ activities
117.557
1,763
119.320
Total expenditure
118,209
1,763
119.972
Net Incomel{expendlture) for the year
(23.735)
637
(23,098)
RevalualK)n of heritsge assets
Transf￿3 behveen funds
Net Movement In funds
123.735)
637
123,098)
Reconclllatlon of funds:
Total funds brought forward at 1 Odober 2023
138.094
42.698
180,792
Total funds carried forward at 30 September 2024 114,359
43,335
157,694
17