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THE DANIEL ADAMSON
PRESERVATION SOCIETY
ANNUAL REPORT &
FINANCIAL STATEMENTS
FOR YEAR ENDED
ST
31 DECEMBER 2024
Company Number: 05088619
Charity Number: 1104681

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THE DANIEL ADAMSON PRESERVATION SOCIETY
CONTENTS
Page
Trustees, Annual Report
Statements of Trustees, Responsibilities
Independent Examinerfs Report
Statement of Financial Activities
Balan￿ Sheet
Notes to the Financial Statements
10

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THE DANIEL ADAMSON PRESERVATION SOCIETY
TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
The Trust￿ are p￿aSed to present annual report for the year ended 31st De￿mber 2024.
The financial statements comply th the CharitEs Ad 2011, Companies Act 2006, Accounting
and Reporting by Charities. Statement of Re(x)mmerKled PrathcE (SORP 2019) appIl￿ble to
chartties preparing their accounts in aC0)rdan￿ with the Financial Reporting Standard
applicable in the UK arKJ Republic of Ireland {FRS102) (as amended for accounting periods
commencing from 1 st January 2019).
OBJECTIVES AND ACTIVITIES
The charity's objectives continue to be:
To secure for public benefit the preservation, restoration, improvement, use and
maintenance of the steam- powered tugltender "Daniel Adamson" (formerly called "Ralph
Brocklebank") built in 1903 and features objects of historical and industrial interest which
relate to the vessel, including the provision of a museum and or exhibition center at such a
site or sites in the United Kingdom as may be appropriate, and organisation of meetings,
exhibitions, lectures, publications and other forms of instruction, promoting the public
knowledge of the historical and industrial development of the vessel and its use.
In setting out our objectives and planning our activities, the Trustees have complied with
the duty under the Charities Act 2011 to have due regard to the public benefit guidan
published by the Charities Commission.
As our organisation continues to evolve, we still maintain our mission to engage our local
communities in the conservation and operation of our unique ple￿ of shipping heritage to
benefit the enjoyment, education and wellbeing of all. We do this by embedding ourselves
in local communities, working in partnership with community groups, museums, education
settings and arts organisations to provide commercial, leisure, social, wellbeing,
volunteering, education, heritage and training opportunities, and to ensure our volunteers
and visitors have a sense of belonging, a sense of ownership and a stake in the Danny's
future, this will always remain our mission.
We are in our second year of our project - Maritime Heritage Maritime Futures. We have
worked with the Maritime Industries around the Port of Liverpool and Cheshire, giving
young people the opportunity to discover both their maritime heritage and the employment
opportunities within this sector. Partners include Peel Ports, Svitzer Marine, The Maritime
Museum Liverpool, Canal & Rivers Trust, Gammell Laird Shipbuilders, Maersk Line and
various Marine Surveyors
The main activities in the year were..
We had a full schedule of public cruises mainly on the River Weaver, but also visits to
Royal Albert Dock in Liverpool and Mode Wheel Lock in Salford. There were also
several private Static Hires. both corporate and family events and we held our own
Corporate Hospitality event at Sutton Weaver in September 24 to showcase the boat to
local business and dignitaries.
Our continued focus was on our Maritime Heritage, Maritime Futures project, financially
supported by NLHF, aiming towards the culmination of the project in 2025.

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THE DANIEL ADAMSON PRESERVATION SOCIETY
TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
ACHIEVEMENTS & PERFORMANCE
This year (2024) saw us returning to cruise service on 5th May after spending two
weeks moored in Royal Albert Dock Liverpool, where we were open to the public as
well as hosting some private events. Our program of public cruises were mainly on the
River Weaver, with a few trips to Salford along the Manchester Ship Canal. We spent a
further three weeks in the Royal Albert Dock in June 2024 again hosting private
celebrations and the first Float Ya Boat project as part of the Maritime Heritage,
Maritime Futures project.
FINANCIAL REVIEW
Income for the year was £145,607 (2023: £214.630) of whith £Nil (2023: £64,489), related to
funding for projects upon whith restrictions are pla<xl.
Expenditure for the year was £251,389 (2023: £233,496), leaving a deffiat for the year of
£105,782 (2023: deficit £18,866).
At 31 st De￿mber 2024 the Charitab￿ compan￿5 re￿[VeS stood at £74,155 (2023: £179,937)
of which £38,913 (2023: £43,543) repre*nted restrirt￿ funds.
RISK MANAGEMENT
The trustees have assessed the major risks to which the charity is exposed, and are satisfied
that systems are in place to mitigate exposure to the major risks.
The charity has small, fixed costs, with potential liabilities from accident and vandalism. Any
potential risk of injury to members working on and visitors to the tug are minimised by means
of comprehenstve risk assessments and by presenting members with detailed guidance and
careful management of all those on the tug. Any movement of the tug from her berth is
undertaken only by experienced crew assisted by commercially operated tugs where
appropriate. Comprehensive Safety Policies and Manuals have been developed for
application prior to the vessel entering commercial service during 2016.
The Insuran￿ coverage is reviewed annually; The insured value of the tug under a Marine
Policy is £2,000,000
The value has been reduced from £3.250,000 upon completion of the Funding period and in
agreement with the National Heritsge Lottery Fund (NHLF) pursuant to an amended deed of
covenant by which we are bound. We also maintain Employee and Public Liabilty and
Trustee Management Risks policies which are also subject to annual re-evaluation to ensure
all risk factors have been declared to insurers and that the insured amounts are adequate.
No projects are Cornmen￿d until sufficient money is available to cover all the pla￿d
contracts. The bulk of the funding required to restore the vessel to steam and commence
revenue*aming operations has been met through grants from the National Lottery Heritage
Fund drawdown.
Sufficient funds are secured from general income such as subscriptions, donations,
sponsorships and Gift Aid to cover the society's nonnal administrative costs throughout the
subsequent year.
The Trustees believe that the biggest risk is the long-term financial sustainability and
continually updates the business plans to ensure ongoing viability and the Risk Register is
reviewed regularly at Board meetings.

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THE DANIEL ADAMSON PRESERVATION SOCIETY
TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
RESERVES POLICY
ft is the polw of the charitable cornpany to maintain unrestiicted Ajnds, which are fr￿ reserves
at a level to cover redundanGy provisM)n and Ihree months, running (x)sts shoukl no further
funding be re￿ived.
As at Ihe end of the financial year the unrestrKthed funds balan￿ is £35,242. The chaiitable
company requires £15,906 for redundancy provision and £59,120 for th￿ months, running
costs, (total £75,026).
The Board of The Daniel Adamson Preservalion SocEty is aartely aware that economic
Un￿rtaInty has had an impact on the viabilty of the organisation and have suc£essful
appointed new Trustees to the board in 2025, who possess specffic exwtise to re-energiTr the
organisation and help us develop a new strategic plan to ensure success in the future.
Following cy)nstructive diabgue with one of our previous swnsors, the sO￿ty has su￿ESSfUl
nduded an agreement that will signifv2nty increase our sponsorship income. This is in
addition to the momentum and support gamered for the Maritime Heiitagelmaritime Futures
Project with The Danny being adopted as the Charity of Ihe Year for Mersey Maritime Awards
where p&rs donate and support the amazing wod( already underway. Furthermore, there is an
ongoing fvndraising campaun via Just Giving to support Ihe essential rna1ntenan￿ ovethaul this
winter.
We are in the process of planning our entire (yuising sthedule for 2026 with calibration of ticket
pricing aimed at improving oCC￿pancY rates and increasing aC￿SsIbl1ty for the public, thereby
strengthening our *r￿1￿ provision and reinforcing our ￿mmI￿￿ent to sustainable growth.
PLANS FOR THE FUTURE
The focus for the future as always is to maintain a sustainable plan that ensures that the
Society continues to deliver public benefit through the Danny through its continued
preservation, use and maintenance.
Alongside a rigorous maintenance plan, we intend to use our marketing resources to
continue to:
- Maximise income from cruises, catering, retail and fundraising.
-Increase the corporate hire of the Danny whilst static and cruising on the river
Weaver.
- Encourage both cash and card donations
- Continue to grow the membership of our Supporters Scheme (Membership Scheme)
who donate a monthly pledge.
We shall maintain an effective recruitment and engagement plan for our volunteers, we
have re￿ntlY undertaken a recruitment drive and the new recruits are enjoying joining
the team
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Daniel Adamson PreseNation So(aety is a tharitable company fmited by guarantee
(registered in England and Wales, No. 05088619) incorporated on 30th March 2004 and
registered as a charity (No. 1104681) on 1 st July 20014.

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THE DANIEL ADAMSON PRESERVATION SOCIETY
TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
The charitable CA)mpany is gOve￿Ed by its Memorandum and Artides of Association dated 5th
March 2004, amended by speoal resolution dated 7th 0(lober 2007, 13th September 2009, 31 st
March 2021 and 25th April 2021.
The day-to-day operation is run by the stsff of the Socxety.
Details of method of recruitment and appoinknent of trustees
As set out in the Artides of AssocialK)n. not less than ￿Ven of the Trustees are nominated and
elected by the societys members and not more than fve are appointed as representatives of
Charitable Company who are engaged in Edu(xtion, Heritage Management, Retail and Tourism in
the Noth West region. One triird of trE Twstees must starNJ dovm each year but may stand for re-
election. The Chairman and prinapal offi(Ers are rK)minated by arKI approved by the Trust*s.
All society members are circulated not less than 14 days prior to the AGM advising them of
retiring Trustees and requesting nominations for new Trustees. The Trustees may co-opt
additional members. When considering co-opting members to the Board, Trustees have
regard to the requirement for any specialist skills needed at the time not currently available
within the Board.
REFERENCE AND ADMINISTRATIVE DETAILS
Name
The Daniel Adamson Preservation Society
05088619
Company Number
Charity Number
Registered office
1104681
54 St James Street
Liverpool, England, L1 OAB
M J Cooksley
J Graves
L Green
R Gwynne
A King
J A McLintod(
M Moran
E Napier
L Roberts
RPScott
J Seddon
V Welsh
S Wood- Chair
Trustees
(Resigned 21st October 2024)
(Resigned 20th June 2025)
(Appointed 9th July 2025)
(Appointed 9th July 2025)
(Appointed 9th July 2025)
(Resigned 17th June 2025)
Secretary
Independent
Examiner
V Welsh
Ying Huang ACCA
Clo LCVS, 151 Dale Street, Liverpool, L2 2AH
Barclays Bank UK PLC
LeI￿Ster, LE87 2BB
n behalf of the Board of Trustees
Bankers
igned
Date

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THE DANIEL ADAMSON PRESERVATION SOCIETY
STATEMENT OF TRUSTEES RESPONSIBILITIES
Company law requires the Trustees to prepare financial statements for each financial year
which give a true and fail view of the state of affairs of the charitable company as at the balance
sheet date and of its incoming resources and application of resources, including income and
expenditure, for the financial year. In preparing those financial statements, the Trustees should
follow best practice and:
select suitable accounting policies and then apply them consistently.
observe the methods and principle in the Charities SORP (2019 (FRS102)).
make judgements and estimates that are reasonable and prudent.
prepare the financial statements on the going con￿rn basis unless it is inappropriate to
presume that the company will continue as a going COn￿rn.
state whether applicable accounting standards have been followed, subject to any material
departure disclosed and explained in the financial statements.
The Trustees are responsible for maintaining pioper accounting records which disclose with
reasonable accuracy at any time the financial position of the charitable company and to enable
them to ensure that the financial statements comply with the Companies Act 2006. They are
also responsible foi safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordan￿ with the Charities Act 2011, Companies Act 2006,
Accounting and Reporting by Charities; Statement of Recommended Practice (SORP 2019)
applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland {FRS102) (as amended for accounting
periods commencing from 1st January 2019).
By the Order of the board,
d Trustee
54 St James Street
Liverpool
Merseyside
L1 OAB
Date:

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INDEPENDENT EXAMINAER'S REPORT TO THE TRUSTEES OF
THE DANIEL ADAMSON PRESERVATION SOCIETY
I report on the accounts of the charitable company for the year ended
31st De￿mber 2024, which are set out on pages 8 to 18.
The trustees (who are also the directors of the company for the
purposes of company law) are responsible for the preparation of the
accounts. The trustees consider that an audit is not required for this
yeai under section 144(2) of the Charities Act 2011 (the 2011 Act)
and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the 2011 Act,
to follow the procedures laid down in the general Directions
given by the Charity Commission (under section 145(5)(b) of
the 2011 Act, and
to state whethei particular matters have come to my attention.
My examination was carried out in accordan￿ with general
Directions given by the Charity Commission.
An examination
includes a review of the accounting records kept by the charitable
company and a comparison of the accounts presented with those
records. It also includes consideration of any unusual items or
disclosures in the accounts and seeking explanations from the
trustees Gon￿rnIng any such matters. The prO￿dureS undertaken
do not provide all the evidence that would be required in an audit,
and consequently no opinion is given as to whether the accounts
present a 'true and fair, view and the report is limited to those matters
sel out in the statement below.
Res
ective
res
onsibilities of
trustees and examiner
Basis of inde
endent
examinels statement
In connection with my examination, no matter has come to my
Inde
endent examinerfs attention:
statement
(1) which gNes me reasonable Cau￿ to believe that in, any
material respect, the requirements:
to keep accounting records in accordan￿ with section 386
of the Companies Act 2006: and
to prepare accounts which accord with the accounting
records and compty with the accounting requirements of
section 396 of the Companies Act 2006 and with the
methods and principles of the Statement of Recommended
Practi￿. Accounting and Reporting Charities
have not been met. or
(2) to which. in my opinion, attention should be drawn in order to
enable a proper understanding
of the accounts to be
reached.
Name:
Ying Huang
Relevant professional qualification or body: ACCA
Address: clo LCVS 151, Dale Stree( Liverpool. L2 2AH
912612025
Dated:
ed*.
DF￿)AEg2EBD4B8...

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THE DANIEL ADAMSON PRESERVATION SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE
ACCOUNT) FOR THE YEAR ENDED 31ST DECEMBER 2024
Notes Unrestricted Restricted
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
27,850
98,229
19,527
27,850
36.958
98,229 159,556
19,527
18,115
3b
3d
Total income
145.607
145,607 214,630
Resources expended
Raising funds
Charitable activities
10,280
236.479
10,280
14,400
4,630 241,109 219,096
Total resources expended
246,759
4,630 251,389 233,496
Net (expenditure), net
movement in funds
(101.152)
{4,630) (105.782) (18.866)
Total funds brought forward
13,14
136,394
43,543 179,937 198.803
Total fund carried forward
12-14
35,242
38,913
74,155 179,937
The notes on pages 10 to 18 fonn part of these accounts.
All the above amounts relate to continuing activities of the charitable company.
This Statement includes all gains and losses recognisable in the year.

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THE DANIEL ADAMSON PRESERVATION SOCIETY
BALANCE SHEET AS AT 31ST DECEMBER 2024
COMPANY NUMBER:05088619
Notes
31st December 2024
31st December 2023
Fixed assets
Heritage assets
Current assets
Stock
Debtors
Cash at bank and in hand
2,479
21,373
87,303
2,323
16,700
167,439
111,155
186,462
Current liabilities
Creditors: amounts falling
due within one year
(37.001)
(6,526)
Net current assets
74,154
179,936
Total assets less current
liabilities
74,155
179,937
Funds:
Unrestricted funds
Restricted funds
12, 13
12, 14
35.242
38,913
136,394
43,543
74,155
179,937
These financial statements have been prepared in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS102).
These accounts have been prepared in accordan￿ with the provisions applicable to small
companies subject to the small companies, regime and in accordan￿ with FRS102 SORP.
For the period covered by these accounts the charitable company was entitled to exemption
under section 477 of the Companies Act 2006 relating to small companies.
No members have required the charitable company to obtain an audit of its accounts for the
year in question in accordan￿ with section 476 of the Companies Act 2006.
The Trustees, who are the Directors of the charitable company, acknowledge their responsibility
for complying with the requirements of the Act with respect to accounting records and the
preparation of financial statements.
Approved by the Board on .......
and signed
their behalf by..
rustee
ooksley - T stee

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THE DANIEL ADAMSON PRESERVATION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
1. Limited Liability
The charitable company is a company limited by guarantee. Each member's liability is limited
up to £10.
2. Accounting Policies
The financial statements have been prepared in accordan￿ with the Statement of
Recommended Practice: Accounting and Reporting by Charrties preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS102) {SORP 2019) (effective 1st January 2019), Charities Act 2011 and the Companies
Act 2006.
The accounts have been prepared under the historical cost convention with items recognised
at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts are prepared in sterling, which is the functional currency of the charitable
company. Monetary amounts in these financial statements are rounded to the nearest £.
The Charitable Company has taken advantage of the provisions in the SORP for Charities
applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
Going concern
At the time of approving the accounts, the trustees have a reasonable expectation thal the
charitable company has adequate reserves to continue in operational existence for the
foreseeable future. The Trustees are confident that the levels of liquidity and free reserves will
not affect the charity's operations. Thus, the Trustees continue to adopt the going concern
basis of accounting in preparing the accounts.
Fund accounting
Unrestricted funds are the Charitable Company's free reserves available for the Trustees to
apply in accordance with the charitable company's char5table objectives.
Restricted funds are subjecl to specific restrictive conditions imposed by the donor. All
restricted funds are accounted for as restricted income and expenditure for the purposes is
charged to the fund.
Income recognition
All income is recognised once the charitable company has entitlement to the income, there is
sufficient ￿rtaInty of re￿Ipt and so it is probable that the income will be re￿ived, and the
amount of income re￿1vable can be measured reliably.
Donations and legacies comprise of donations and gift aid which are recognised in the
accounts when re￿ived, with the ex￿ptIOn of known legacies which are accounted for when
their re￿Ipt is certain.
Income from charitable activities is recognised on an accrual's basis ex￿pt for grants
Teceivable. which are recognised on the date on which their unconditional payment is
confirmed by the donor.
Income from other trading activities relates to fundraising events, merchandise sales and
catering income and is recognised when the amount is ￿rtaIn.
Income from investrnent relates to bank interest and income from investments received and is
recognised when the amount is ￿rtaIn.
10

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THE DANIEL ADAMSON PRESERVATION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
Expenditure recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the
charitable company to that expenditure, it is probable that settlement will be required, and the
amount of the obligation can be measured reliably.
All expenditure is accounted for on an accrual basis. All expenses. including support costs and
governance costs. are allocated or apportioned to the applicable expenditure headings in the
Statement of Financial Activities. Support and governance costs are applied to unrestricted
funds unless specifically included in the restiictions, as specified by the donor.
Expenditure on charitable activities relates to the operation of the charitable company
comprising of direct charitable expenditure to meet the objectives of the charitable company.
Support and governance costs relate to the management and operation of the organisation
and also compliance with constitutional and statutory requirements in producing the annual
report. These are dealt with in the Statement of Financial Activities when payment has been
approved by the charitsble company.
Fixed assets
The only fixed asset is 'The Daniel Adamson, which is treated as a Heritage asset and is
included in the accounts at a nominal £1. There is no external market value but the vessel has
an Insuran￿ value of £2 million.
Stock
Stocks held are merchandise purchased to sell in the shop on board of the Daniel Adamson
and is accounted for at the lower of cost or net realisable value.
Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-
term liquid investments with original maturities of three months or less, and bank overdrafts.
Financial instruments
The charitable company has elected to appty the provisions of Section 11 'Basic Financial
Instruments, and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its
financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the
charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial
statements, when there is a legally enforceable right to set off the recognised amounts and
there is an intention to settle on a net basis or to realise the asset and settle the liability
simultaneously.
Basic financial assets
Basic financial assets, which include debtors. cash and bank balances, are initially measured
at transaction pri￿ including transaction costs and are subsequently carried at amortised cost
using the effective interest method unless the arrangement constitutes a financing transaction.
where the transaction is measured at the present value of the future receipts discounted at a
market rate of interest. Financial assets dassified as re￿1vable within one year are not
amortised.

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THE DANIEL ADAMSON PRESERVATION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at
transaction pri￿ unless the arrangement constitutes a financing transaction, where the debt
instrument is measured at the present value of the future re￿iptS discounted at a market rate
of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate
method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charitable company's contractual obligations
expire or are discharged or can￿lled.
Critical accounting estimates and judgements
In the application of the charitable company's accounting policies, the Trustees are required to
make judgements, estimates and assumptions about the carrying amount of assets and
liabilities that are not readily apparent from other SoUr￿s. The estimates and associated
assumptions are based on historical experience and other factors that are considered to be
relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to
accounting estimates are recognised in the period in which the estimate is ievised where the
revision affects only that period, or in the period of the revision and future periods where the
revision affects both current and future periods.
Taxation
Income and gains are exempt from taxation as they are received and applied for charitable
purposes only. The charitable company benefits from various exemptions from taxation
afforded by tax legislation and are not liable to corporation tax on income or gains falling within
those exemptions.
3. Income and endowments from:
Unrestricted Restricted
Funds
Funds
2024
2024
Total
Funds
2024
Total
Funds
2023
a. Donations and legacies
Donations
Gift aid
25,444
2,406
25.444
2.406
34,614
2,344
27,850
27.850
36,958
Donations and legacies in 2023 relate wholly to unrestricted funds.
12

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THE DANIEL ADAMSON PRESERVATION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
Unrestricted Restricted
Funds
Funds
2024
2024
Totsl
Funds
2024
Total
Funds
2023
b. Charitable activities
Canal River Trust
Charter and static hire
Contract Income
Cruise fares
Cheshire Community Fund
Maritime Heritage Fund
Membership subscriptions
Workshops
5,000
11.091
4,874
68,267
10,000
49,489
10,835
14,291
14,291
72,933
72,933
10,545
460
10,545
460
98,229
98,229 159,556
Charitable activities in 2023 related to £95.067 unrestricted funds and £64,489 restricted
funds.
c. Other trading activities
Fundraising
Merchandise income
Catering income
1,003
1,307
17.217
1,003
1,307
17,217
1.310
1,463
15,342
19.527
19,527
18,115
Other trading activities in 2023 related wholly to unrestricted funds.
d. Investments
Bank interest
Investments in 2023 related wholly to unrestricted funds.
4. Expenditure on raising funds
2024
2023
Performers and presenters
Merchandise
Catering costs
1,425
218
8,637
380
3,770
10,250
10,280
14.400
All expenditure on raising funds is unrestricted (2023: £14,400)
13

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THE DANIEL ADAMSON PRESERVATION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
5. Expenditure on charitable activities
Direct
Support &
Charitable Governance
Expenditure
Costs
TOTAL
2024
TOTAL
2023
Preserrfation restoration, improvements
and rna1ntenan￿ of the steam powered
tugltender Daniel Adamson
131,115
109,994 241,109 219,096
. Analysed as follows..
2024
2023
Direct charitable expenditure."
Insurance - marine policy
Tug operating costs
Volunteer expenses
Transport hire
Activities and events
Equipment and materials
Training
34,143
79,852
18
12,877
3,366
65
794
22,587
66,295
105
7,540
13,218
1,101
30
131,115
110,876
Support & Govemance costs..
Staff salary costs
Pension
Marketing
Insuran
Subscription fees
Bank charges
Uniform
Meeting costs
Travel expenses
Office and administration cost
Professional fees
Sundry expenses
Pension charges
Payroll fees
Accountancy
64,237
1,881
19,408
804
3,549
1,899
1,093
1,449
6,478
6,218
74,379
2,200
8,110
728
2,916
2,662
690
126
6,147
6,214
1,333
350
396
704
1.265
426
396
700
1,456
109.994
108,220
Total expenditure on charitable
activities
241,109
219,096
£4,630 (2023: £20,946) of the above expenditure relates to restricted funding.
14

Docusign Envelope ID.. 5CE4E5DD4B024EBtkB07C-2E139F5FF6F6
THE DANIEL ADAMSON PRESERVATION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
b. Staff Costs
2024
2023
Gross wages and salaries
Social security costs
Pension
62,702
1,535
1,881
73,330
1,049
2,200
66.118
76.579
c. Particulars of Employees:
The average number of employees during the year, calculated on the basis of full-time
equivalents, was as follows:
2024
2023
2.54
Charitable activities
No employee received emoluments of more than £60,000 during the year
The Trustees are not remunerated for their services and are not included in the above number
of employees.
Trustees were reimbursed for travel and training cost in the year of £nil (2023: £nil).
6. Herltage assets
Daniel
Adamson
Totsl
Carrying value at 1st January 2024
and 31st December 2024:
This is the cosl of acquisition of the Daniel Adamson tug boat on 6th April 2004. The insured
value of the tug under a Marine Policy is £2,000,000 being the value of restoration work
and as required by the National Heritage Lottery Fund (NHLF) pursuant to a deed of
covenant.
7. Stock
2024
2023
Merchandise closing stock
2,479
2.323
8. Debtors
2024
2023
Prepayments
Other debtors
12.060
9,313
11,985
4.715
21,373
16,700
15

Docusign Envelope ID.. 5CE4E5DD4B024EBtkB07C-2E139F5FF6F6
THE DANIEL ADAMSON PRESERVATION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
9. Creditors= amounts falling due within one year
2024
2023
Trade creditors
Accruals
Tax and social security
Deferred income (see note 10)
23,330
2,959
875
9,837
3,895
1,631
1,000
37,001
6,526
10. Deferred income
2024
2023
Balance at 1st January 2024
Amount deferred in the year
Amount released to income
8,183
9,837
(8,183)
Balance at 31st December 2024
9,837
11. Financial instruments
2024
2023
Carrying amount of financial assets:
Debt instruments measured at cost
89,782
169,762
Carrying amount of financial liabilities:
Measured at cost
26,289
5,526
12.Analysis of net assets between funds
2024
Heritage Net current
assets
assets
Total
Unrestricted Funds
General Fund
35,241
35,242
Restricted Funds
Cheshire Community Foundation
Maritime Heritage Fund
627
38,286
627
38,286
38,913
38,913
Totals
74,154
74,155
16

Docusign Envelope ID.. 5CE4E5DD4B024EBtkB07C-2E139F5FF6F6
THE DANIEL ADAMSON PRESERVATION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
2023
Heritage Net current
assets
assets
Total
Unrestricted Funds
General Fund
136,393
136,394
Restricted Funds
Cheshire Community Foundation
Maritime Heritage Fund
1,227
42,316
1,227
42,316
43,543
Totals
179,936
179,937
13. Unrestricted Funds
2024
Movements in the Year
Income Expenditure
Reserves
at Beginning
of Year
Reserves
at End
of Year
General Fund
136,394
145,607
(246,759)
35,242
2023
Movements in the Year
Income Expenditure
Reserves
at Beginning
ofyear
Reserves
at End
of Year
General Fund
198.803
150.141
{212,550)
136,394
General Fund is used to finance the charitable company's general activities as outlined in the
Trustees, Report.
14. Restrictsd Funds
Movements in the Year
Income Expenditure
Reserves
at Beginning
of Year
Reserves
at End
of Year
2024
Canal River Trust
Cheshire Community Fund
Maritime Heritage Fund
1,227
42,316
(600)
(4,030)
627
38,286
{4,630)
38,913
17

Docusign Envelope ID.. 5CE4E5DD4B024EBtkB07C-2E139F5FF6F6
THE DANIEL ADAMSON PRESERVATION SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
Movements in the Year
Income Expenditure
Reserves
at Beginning
ofyear
Reserves
at End
of Year
2023
Canal River Trust
Cheshire Community Fund
Maritime Heritage Fund
5.000
10,000
49,489
(5,000)
(8,773)
(7,173)
1,227
42,316
64,489
(20,946)
43,543
Description of Funds
These are monies given to the charitable company to be spent at the discretion of the Board of
Trustees for specific charitable purposes, as follows:
Canal River Trust- Contribution towards activities
Cheshire Community Fund - Contribution towards young person's events
Maritime Heritage Fund - Contribution towards 'Maritime Heritage, project
15.Operating Lease Commitments
There were no financial commitments as at 315t De￿rnber 2024 (2023: nil)
16. Related Party Transactions
There were no material related party transactions during the year which require disclosure
(2023: none}.
17.Guarantees
As at 31st December 2024, 366 members had given a guarantee of £10 each in the event of
the charitable company winding-up, total £3,660 (2023: 372 members £3,720).
18