Registered number.. 07267448
Charity number.. 1138239
BLYTH TALL SHIP
(A company limited by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
Armstrongwatson.
Accountants, Business & Financial Advisers

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
CONTENTS
Page
Rafgronca and administrative details of tho Charity. its Trustsos and advisors
Trusts¢$' roport
Indopondant 8xamin8es rnport
Statsment of financial activities
Balanc• sh¢•t
9-10
Notes to the financial statements

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MAY 2025
Tw$tg9$
R Brown. Chair
J O*es
J Barr (appointed 16 January 2025. ￿siOned 28 October 20251
E Fletcher Iresigned 22 January 20261
S Hall Iresiqned 26 Auqust 20251
E O'connor (resigned 26 August 20251
A Quinn (resigned 16 January 20251
A Todd (resigned 26 Augvsl 20251
Cpl D Smith lappoinled 1 October 2025}
T Pringle lappointed 26 August 20251
J Nicolson lappointed 26 August 20251
E Dick lappointed 26 August 20251
H Beales lappointe(126 August 20251
Company r•gl•t•r•d
number
07267448
Charity r8glstsr•d
number
1138239
R•gl•tsr•d offl¢•
Port Training Serwces
Quay Road
Blyth
Northumberland
NE24 3PA
Chlef exfrcutlve officer & Siobhan Sargeant
company $•cr•tsry
Indopondont oxam5nor
E Chapman
Armstrong Watyon Accountants LLP
First Floor
One Slravhjerry Lane
Newcastle upon Tyne
NE14BX
Page 1

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MAY 2025
The Trustees present their annual ￿port together vAlh the financial statements of the Charity for the year 1 June
2024 to 31 May 2025.
The Annual report serves the purpose5 of both a Trustees. report and a director5. report under company law.
The Tru5tee5 confirm that the Annual Teport and financial statemen15 of the charrtable company comply wth the
current slatulory requirements. the requirements of the ¢hantable ¢ompanls governing document and th
provisions of the Statement of Recommended Practsce ISORPI applicable to charities preparing their accounts
in accordance wf(h the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021
(effective 1 January 20191.
Since the Charity qualifies as small under $e¢tion 382 of the Companies Act 2006, the Strategic report required
of medium and large companies under the Companies Act 20C6 (Strategic Report and Directors. Reporti
Regulations 2013 has been omitied.
Oble¢tlves and a¢llvltle$
a. Pollcl•$ and obl•ctlves
The charities objectives are reslncted to the folbwng..
1. To advance the education of the public in the historical and marib.me heritage of Blyth and the coast of
Northumberland in particular bul not exclusively lo the provision of".
volunteering. training and employment opportunities for people of all ages. in particular bul not exclusively in
the field ol sail training, maritime, engineering, renewable energy, tourism and cultural acts'vilies.
b. a harbour side boat building and repair facility and associated services including its maintenance, for public
appreciation and utility.
2. To act as a resource for young people liwng in the North East of England by providing advice and assistance
and organising programmes of physical. educational an¢J other a¢tivrties as a means of..
advancing in life and helping young people by developing Iheir skills. ¢apa¢rtie$ and Capabilities to enable
them to participate in society as independent, malure and responsible individuals.
b. advancing education.
c. relieving unemployment.
d. providing recreational and leisure b.me aclivrty in the inte￿$19 of social wetfare for people living in the area of
benefit vh)0 have need by reason of their youth age. infimirty of disability. povety or social and economic
cir¢umslan¢es a view lo improving the ￿ndIti¢)n$ of SLb¢h pers¢)n.
In setting objethves and planning for aclivib"es. the Trustees have given due consideration to general guidance
published by the Charity Commission rel*ing to public benefit. including the guidance 'Public benefit." running a
Charity IPB21'.
Page 2

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MAY 2025
A¢hlovom•nts and pgrfornian¢
a. Main achievements of the Charity
Blyth Tall Ship has been through a period of deliberate and necessary change during the 202￿25 financial year.
The focus throughout has been on strengthening governance, leadership, and finan¢ial resilience, $0 the charity
is better placed to deliver its charitable purpose in a sustainable way.
Mr R Brown was appointed Chair in June 2025. having already served as a Trustee for four years. This Continuity
has supported a smooth transition and ensure(I that organisalional kno%￿edge was ￿tsined al a lime of change.
His background in senior ￿aderShip and business ha$ ¢omplemented the colledive experience of the Board as
they have focused on clearer oversight, accountabilty. and long tem) direction.
One of the most significant developments during the year wa5 the appointment of a new Chief Executive Officer
in January 2025 followng a thorough recruitment process. The CEO brings strong experience in charity
leadership. governance, and income generation. Since appointment. the CEO has led a comprehensive review
of governance arrangements to ensure that slru¢¢ures. systems, and pr￿es$e$ are appropriate for the charity's
size and activity. compliant current legislation. and aligned ￿th Charity Commission guidance.
As part of thi5 work, the charity has completed a full policy review. established a risk register, and introduced a
rolling policy review timetable. Existing policies have been updale(I to reflect current legal and regulatory
requirements, and new policies have been adopted vthere gaps VIE￿ identified. This provides a clearer
framework for decision making, safeguarding, and risk management. and supports Trustees in meeting their
legal duties.
The Board h48 also reviewed ils own effectiveness. A Trustee skills matrix vrds completèd lo agsess the balance
of skills and expenence aeross the Board. This has Infomed a taweled recruilmenl process lo address identified
gaps and strengthen govemance capacity. A structured Trustee indu¢ts'on programme has also been introduced
lo ensure that all Trustee$ understsnd their respon$ibilth'es, the ¢harity'$ objects, and their role in advancing
public benefit.
Volunteers remain central to Blyth Tall Ship's I￿rk. During the year, plans were developed lo grow and
strengthen the volunteer base across all afeas of operation. A new Volunteer Indu¢tion Programme has been
created, shaped by volunteer fee<lback. alongside improved approaches lo engagement and dats collection.
This supports better decision making. clearer communicatson, and more meaningfvl volunteering experiences.
Financial sustainability has been a key priority. During the year, new trust and foundats'on funding pipelines and
corporate relationships were established lo support a more balanced and resilient funding model. In February
2025. the charty delivered ils first Gala Dinner. introducing Blyth Tall Ship to a wider eorporale audience and
generating both income and avtareness. Foll¢Mng rts su¢¢ess. Trustees have agreed that this wll become an
annual fundraising event. Work has also begun to develop a corporate programme including team building
activity, event hire, and corporate events, aligned wth the charity's aims.
The Tru51ees are 5atsfied that they have acted in accordance wth their duties under charity law, had due regard
lo the Charrty Commission'5 public benefit guidance. and tsken appropriate steps 10 Safeguard the Charity's
assets. reputation, and beneficiaries.
The Trustees have had due regard to the Charity Commission's guidance on public benefit and the requirements
of CC15 vthen preparing this report.
Mr R Brovm would like lo thank his fellow Trustees for their time and commitment. the Chief Executive Officer
and stsff lor their leadership. and the volunteers. supporters. and partners whose ongoing support enables Blyth
Tall Ship to continue its work.
This year has laid fimier foundations. Governance is stronger, leadership clearer, and income generation more
structured. The Board is confident that Blyth Tall Ship 15 better w)5rtioned to delNer public benefrt and lo grow
sustsinably in the years ahead.
Page 3

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MAY 2025
A¢hlovom•nts and pgrfornian¢o l¢ontinu8d)
b. Fundraising policy
The charity is required to report how it deals fvndraising from the public. The charity does not use a
professional fundraiser or commercial participator lo raise fvnds. Any monies raised direct from the public
follows all guidelines set out by the Charity Commission and UK law in every aspect. We respect the privacy and
contact preferences of all public donors.
¢. Public ￿nar￿
The Iruslees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 10
have due regard lo the publK benerft guidance published by the charib.es Commission for England and Wales.
Financial rgview
. Golng concorn
After making appropriate enquiries. the Trustees have a reasonable expectsb'on that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going eoncern basis in preparing the financial stslements. Further details rega¥ding the adoptson ef the going
concern basis can be found in the accounting polic*s.
b. R8sor¥es pollcy
The calculation of free reserves is based on the definrtion included in the charity statement of recomm&nd&d
practice ISORPI, which provides recommendalions for accounting and reporting for charrties. The trustees have
examined the requirements of the charity to hold free reserves - those reserves not invested in tangible fixed
assets, excluding long term liabilits'es. or designaled for a particular purpose. The Trustees considered it would
be appropriate to hold the equivalent of three month5 of running costs. vknich would equate to holding
approximately £100,000 in Iree reserves lo deal with the hypothetscal situation of any unplanned closure.
Al the year end, free reserves ￿re £156,92912024." £94,968), an increase of £61,961 in the year.
c. Princi￿1 funding
Currently the chanty is funded using restricted grant funding. thich is applied against the projects for which the
grants are given. The charrty must then commit to using a percentsge of its own funds to attract further restricted
funding. As a result the running costs of the charity currently comprise these 'matched fvnding, costs together
wth the governance costs of running the charity.
Structurg. govornanc8 and manag•m•nt
a. Con$titution
The charity 15 controlled by its goveming document, a deed of trust and constitues a limrted company. limited by
guarantee, as defined by the Companies Act 2006. The Mernorandum and Arb"cle5 of Association are dated 27th
May 2010 and last ament1ed on 7th September 2010, wth the chanty gaining registe￿￿ charitable stslus on the
4th October 2010.
In the event of the charity being %wund up, the maximum liabilty of each member is £1.
Page 4

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MAY 2025
Structurè, govornan¢• and managament l¢onllnu8d)
b. Methods of appointment or election of Tn￿tee5
The trustees, who are also diwlors for the purposes of company law. and vtho served during the year and up lo
the date of Signature of the financBI statements were..
R Brown
J Oates
J Barr
E Fletcher
S Hall
E O'connor
A Quinn
A Todd
Cpl D Smrth
H Beales
T Pringle
J Nicolson
E Dick
Appointments of trustees were made from Ihe long lemi execulive team vthen the charity was formed. The
apppointments were from those prepared to volunteer and y￿re based upon a mix of business and educational
skills. New trustees wll be inwted lo join the board based on their skills and cultural fit, usually after a slrateglc
and governance decision to bolster the board in partj'cular areas or when existing trustees move on.
c. Kgy Managem•nl Per¥onng1
The board. who give their time freely and no trustees received remuneration in the year. have considered who
the Key Management Personnel IKMPI of the charity. as noted in Ihe Reference and Administrab'on section.
Together the board. these KMP are Iho$e in charge ol directing and controlling. running and operating the
activities of the charity on a day to day basis. The pay of the KMP is rewewed annually and normally increased in
accordance wth the average earnings. The trustees benchmark against pay levels of other charities and similar
organisalions wlhin the sector and the region. Pay levels are sel using this information together with the budget
and forecast information, ensuring that the cl)aTity can afford any proposed increases. The board then agree that
any uplift lo remuneration.
d. Risk management
The Trustees have assessed the major risks to vknich the Charty is exposed, in parbcular those related to the
operations and finances of the Charity, and are sats"sfied Ihat systems and procedures are in place to mitigate
exposure lo the major risks.
Page S

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MAY 2025
Plan$ for fulur• porlod$
In the coming year, Blyth Tall Ship wll continue lo develop and expand ils youth training programmes, with a
particular focus on engaging young people through structure(I marib.me skills development. ￿h0o1 partnerships
and ¢ommunity-based STEM a¢tiwbes. We aim to provide meaningful. hands-on opportunity'es that inspire and
equip pa￿'cip3ntS wth practical skills in seafaring. WOOd￿y)￿ln9 and traditional heritage crafts. helping to nurture
the next generation of maritime professionals and heritage practitioners. Alongside programme development, the
Trustees will prioritise the diversification of income streams In order to strengthen financial resilience and ensure
the long-lerm sustainability of the charrty. This wll include exploring new funding partnerships, earned income
opportunities and community engagement initiatives. The charty also intends lo relocate ils henlage archive
colle¢tion to a more accessible venue that enables public visils, leaming activities and curated exhibitions. This
11 enhance community engagement, safeguard our maritime herrtage assets and create new educational
opportunities aligned wth our charitable objeclives.
Statsm•nt of TN$1￿$. Mponslbllbtj
The Trustees Ivtho are also the directors of the Ch4rrty for the purposes of company lawl are reyponsible for
preparing the Trustees, report and the financial stslements in a¢cordance with applicable law and United
Kingdom Accounts'ng Standards IUnrte<J Kingdom Generally Accepted Accounting Pracb"cel.
Company law requires the Trustee5 to prepare financial statements for each financial year. Under company law,
the Trustees musl not approve the financial statements Unless they are satisfied that they give a true and fair
view of the slate of affairs of the Charity and of its incoming resources and application of resources. including ils
income and expenditure. for that period. In preparing these financial stslements, the Trustees are required lo..
select suitable accounting policies and then apply them consistenlty.
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting eslimales that are reasonable and prudent..
stsle whether applicable UK A¢counting Standards IFRS 1021 have been followed, $ubje¢t lo any material
departures disclosed and explained in the financial statements.,
prepare the financial slalemenls on the going concem basis unless il is inappropriate lo presume that the
Charity wll continue in business.
The Trustees are responsible for keeping adequate accounting records that are suffieienl lo sh¢w and explain
the Charity's transactions and disclose vth reasonable accuracy at any b.me the financial position of the Charity
and enable them to ensure that the financial statements comply wth the Companies Act 2006. They are also
responsible for safeguarding the assets of the Chanty and hence for taking reasonable steps for the prevenb'on
and detection of fraud and other irregularibes.
In accordance wlh section 485 of the Companies Act 2006. a resolution for the appointment of Edith Chapman
FCA as independent examiner of the charty is to be propsed at the forthcoming Annual General Meeting.
Approved by order of the members of the board of Trustees and signed on their behaw by..
R Brown
Chair of Trustees
Dale.. 19 March 2026
Page 6

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MAY 2025
Ind•p•nd•nt •xamlnoes roport to th• Tw$t¢es of Blyth Tall Shlp I'th• Charlv)
I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 May
2025.
Rg$pon$lbllltlg$ and ba$S$ of rgPQrt
As the Trustees ol the Charity land ils ￿1￿clOr$ for the purposes of Company lawl you are responsible for the
preparation of the accounts in accordance the requirements of the Companies Act 20061'lhe 2006 Acl'l.
Having satisfied myself that the accounts of the Chanty are not required to be audited under Part 16 of the 2008
Act and are eligible for independent examinabon, I report in respect of my examination of the Charity'5 accounts
carried out under section 145 of the Charities A¢t 2011 lkne 2011 Acl'l. In carryng out my examination I have
followed the Directions given by the Charty Commission under secbon 14515llbl of the 2011 Act.
Indepandent examin•r's statement
Since the Charity's gross income exceeded £250.000 your examiner musl be a member of a body listed In
section 145 of the 2011 Act. I confim Ihal l am qualrfied lo undertake the examinab'on because l am a member
of the ICAEW, which 1$ one of the listed bodies.
I have completed my examination. l Confim that no matters have come lo my attention in connection with the
examination giving me Cause lo believe".
accounting re￿rdS were not kept in respect of the Charity a$ required by sects'on 386 of the 2006 A¢l,' or
the accounts do not accord vath those records,. or
the aceounls do not comply wth the accounting requirements of sethon 396 of the 2006 Act other than
any requirement that the accounts give a Iwe and fair, wew sthich is not a matter considered as part of
an independent examination,. or
the accounts have not been prepared in accordance wth the methods and principles of the Statement of
Recommended Prath'ce for accounbng and reporting by charities.
I have no concerns and have come across no other matters in connection *Mlh the examination lo thich
attents'on $hould be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Thi5 report 15 made solely lo the Charty's Trustees, as a body, in accordance Part 4 of the Charitie5
(Accounts and Reports) Regulations 2008. My y￿￿k has been undertaken so that I might stsle lo the Charity'g
Trustees those matters l am regul￿d lo slate lo them in an Independent examinerfs report and for no other
purpose. To the fullest extent permitted by law. I do not a¢￿p1 or assume ￿sponSIbl1￿ lo anyone other than the
Charity and the Charity's Trustees as a body, for my work or lor this report.
Signed.
E Chapman FCA
Date11 19 March 2026
E Chapman
Armstrong Watson Accounlanls LLP
First Floor
One Stravknerry Lane
Newcastle upon Tyne
NE14BX
Page 7

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MAY 202S
Unrostrl¢tsd
funds
2025
Rostrf¢led
funds
2025
Totsl
funds
2025
Total
funds
2024
Note
Income from:
Grants and donats'ons
SS.960
169,945
198,050
225,905
198,050
62,898
60,571
232,994
46,319
Charitable activ￿.eS
Other income
62.898
Total incomo
118.858
367,995
486,8S3
339,884
Exp8nditure on:
Charitable aCtiv￿.eS
60.798
277,926
338,724
308,479
Totsl oxpondltur•
60.798
277,926
338,724
308.479
Not In¢om•
Transfers bets%Een funds
$8,060
11751
90,069
175
148,129
31,405
15
Not mov•m•nt In lunds
S7.885
90,244
148,129
31.405
Roconclllatlon of funds:
Totsl funds brought forward
Net movement in fvnds
203,715
57.885
70,539
90,244
274,254
148,129
242,849
31,405
Totsl funds carrled forward
261.600
160,783
422,383
274,254
The Slalemenl of financial athiities includes all gains and k)sses ￿Cognised in the year.
All income and expenditure derives from continuing activities.
The notes on pages 1110 24 fom part of these financial statements.
Page 8

BLYTH TALL SHIP
IA Company limitod by guaranteo)
REGISTERED NUMBER: 07267448
BALANCE SHEET
AS AT 31 MAY 2025
2025
2024
Mote
Flxed assets
Tangible assets
12
104.671
108, 746
104.671
108, 746
Curr•nt assets
Debtors
Cash al bank and in hand
13
12.708
317.540
49,510
136,040
330,248
185,550
Current liabilities
Creditors.. amounts falling due wlhin one
year
14
{12,5361
(20.042?
Not currgnt assots
317,712
165,508
Total a••ot# lès* ¢urr•nt Ilabllltl•s
422,383
274,254
Not ass•t8 •xcludlng ￿nSIon a888t
422,383
274,254
Total not *ss•t8
422,383
274,254
Charlty funds
Reslricled funds
Unrestricted funds
15
15
160,783
261,600
70,539
203, 715
Totsl funds
422,383
274,254
The Charity was enlilled to exemption from audil under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in quests'on in accordance wth
section 476 of Cornpanies Act 20C6.
The Trustees acknovledge their responsibilities for complying vth the ￿qU1￿mentS of the Act with respect lo
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance the provisions applicable to entities subject to
the small companies regime.
The financial stslements approved and authorise(I for issue by the Trustees and signed on their behalf by".
R Brown
Chair of Trustees
Dale.. 19 March 2026
Page 9

BLYTH TALL SHIP
IA Company limitod by guaranteo)
REGISTERED NUMBER: 07267448
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2025
The notes on pages 11 to 24 forni part of these financial statements.
Page 10

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
Charty information
B1￿h Tall Ship is a private company limited by guarantee incorporated in England and Wales. The
registered office is Port Training Servi¢es. Quay Road. 81￿h. Northumberfand, NE24 3PA, United
Kingdom.
Accounting policies
2.1 8asls of preparatlon of financlal statements
The financial statements have been prepared in accordance ￿th the Charities SORP IFRS 1021-
Accounting and Reporting by Charities.. Statement of Re¢ommended Practice applicable to charities
preparing their accounts in accordance Trmih the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable In the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006.
The financial statements are prepared in Steding %thich is Ihe fvnclional and presenlab'onal currency
ol the charity.
Blyth Tall Ship meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised al historical cost or transact￿￿ value unless olherwse slated in the relevant
accounting policy.
The charity has taken advantage of the provisions in the SORP for char￿.e$ not to prepare a
Statement of Cash Flows.
2.2 Golng concem
Al the ts'me of approwng the financial stslements. the Iruslees have a reasonable expeclab'on that the
charity has adequate resources to continue in operatsonal existence for the foreseeable future. Thus
the trustees continue to adopt the going concem basis of accounting in preparing the financial
statements.
2.3 Incom•
Income and ondowm8nts
Income is recognised vthen the charity is legally entitled to it after any performance condits'ons have
been met, the amounts can be measured reliably, and it is probably that income wll be received.
Donations and legacie¥
Donations are recognised when the charty has been noltfied in vrriling of both the amount and the
se￿ement date. In the event that a donation is subject to condrtions that require a level of
performance by the charty before the charity is entilled to the funds, the income is deferred and not
recognised until either those conditions are full met. or the fulfilment of those condits'ons is wholly
wrthin the control of the charity and rt is probable that these conditions will be fulfilled In the reporting
period.
Grants recai¥abl•
Grants are recognised ￿en the charity has an entiyement to the fund and any conditions linked to
the grants have been met. Where performance conditions are attached to the grant and are yet lo be
met, the income Is recognised as a liabilrty and induded on the balance sheet as deferred Income lo
be ￿leased.
Page11

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
Accoun￿ng poll¢l•s {¢ontlnu•d}
2.4 Expenditure
Expenditure is recognise<l once there is a legal or construclive obligation to transfer economic benefit
to a third paty, it is probable that a transfer ol economic benefits wll be required in setuement and
the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The Costs of each activity are made up of the total of direct costs
and shared Costs. including support costs involved in undertaking each ath"vity. Direct coslg
attributable to a single activity are allocated directly lo that activity. Shared costs vthich Contribute lo
more than one activity and support costs vthich are not attributable to a single activity are apportioned
befften those activits'es on a basis consistent wth the use of resources. Central staff costs are
allocated on the basis of tsme spent, and depreciation charges alkjcated on the porb'on ol the asset's
use.
Charltabl• actlvl
Expenditure on charitsble a¢livity'es 1$ incurred on dire¢Uy undertaking the aclivrties vthich further the
Charily's objectsves, as ¥%EII as any associated support costs.
Support costs
Support costs have been drfferenliate(J belween 9ovemance costs and other support costs.
Governan￿ co$t$ comprise all ￿$ts involwng the public a¢¢ounlability of the charity and 11$
compliance wth regulation and good practice. These costs include costs related to the statutory audit
and other costs Y￿th an apportionment of ovehead and support costs.
Govemance costs and Sup￿ costs relating lo charitable actsvities have been apportioned as sel out
in the Support Costs note.
2.5 Tanglbl• fixed ass•ts and d•prnclatSon
Tangible fixed assets are initialty recogni5ed at cost. After recognition, under the cost model, tangible
fixed assets are measure(J al cost less accumulate<l depwiation and any accumulated impairment
losses. All costs incurred to bring a tsngible fixed asset into ils intended working condition should be
included in the mea$uiement ol cost.
Depreciation is charged so as to allocate the cost of tangib￿ fixed assets less their residual value
over their eslimaled useful live5.
Depreciation 1$ prO￿ded on the followng bases."
Plant and machinery
Office equipment
5% - 20% straight line
20% straighl line
2.6 Debtors
Trade and other debtors a￿ recognised al the setuement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand indudes cash and deposits held at call wth bank and short term highly
liquid invesments wth a short maturity of three months or less from the date of acquisition or opening
of the deposrt OT similar account. Bank overdrafts are shown wihin borrowings in current liabilities.
Page 12

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
Accoun￿ng poll¢l•s {¢ontlnu•d}
2.8 Liabilities and provisions
LiabIl￿e$ are recognised vA)en is an Obligati￿ at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic beneffit wll be required in settlement, and the amount
ol the settlement can be estsmated reliably.
Liabilities are recognised at the amount that the Charity anticipates il wll p3y to settle the debt or the
amount il has received as advanced payments for the goods or services il must provide.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial instruments are inib.alty recognised al Iran5aclion value and subsequently
measured al their settlement value.
2.10 Fund accountlng
General fiJnds are unrestricted funds Nthich are available for use at the discreb'on of the Trustees in
furtherance ol the general objeth.ves of the Charity and vthich have not been desi9naled for other
purposes.
Reslrided lund$ are fund$ ￿1¢h are to be used in a￿ordanCe wth $pe¢ffic reslri¢tion$ imposed by
donors or vthich have been raised by the Chanty for particular purposes. The costs of raising and
administering such funds are charged again5l Ihe specific fvnd. The aim and use of each restricted
fund is sel out in the notes lo the financial statements.
Investrnenl income, gains and losses are allocated lo the appropriate fund.
Crltlcal accountlng estbmates and arnas of Judgment
In the application of the chariws accounb.ng Fdicies, the trustees are required lo make judgements,
estimates and assumplions abo￿ the carrwng amount of assets an¢J liabilrties that are not readily
apparent from other sources. The e$b"mates and a$s￿lated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estmates and undedwng assumptions a￿ rewe¥￿j on an ongoing basis. Revisions lo accounting
estimates a￿ recognised in the period in which the eslim*e is revised vthe￿ the revision affects only that
period, or in the period of revision and fvture period vknere the revision affects both current and future
periods.
Page 13

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
Income from grants and donations
Unrgstrictad Rostrict8d
funds
funds
2025
2025
Total
funds
2025
Donations
Grants
4,710
51,250
4.710
221,19S
169,945
55.960
169,945
225,905
Unroslricled
funds
2024
Roslricled
funds
2024
Total
funds
2024
Donations
Grants
5.696
22,000
5.696
54,875
32,875
27.696
32,875
60,577
Charltable actlvltl
Restrictod
funds
2025
Total
fund$
2025
Performance related grants
198,050
198.050
UnTrstricted
funds
2024
Restrict8d
funds
2024
Total
funds
2024
Training prowsion
Perfomiance related grants
13.500
13.500
219,494
219,494
13,500
219,494
232,994
Page 14

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
Other income
Unrnstrict8d
funds
2025
Total
funds
2025
Other income
62,898
62,898
Un￿StriCted
funds
2024
Total
funds
2024
Other income
46,319
46,319
Analy818 of oxpondltur* on ¢harftabl* actlvltle*
Unrtstrlcted R•8trlct•d
funds
funds
202$
202$
Total
202S
Training
Share of govemance costs Isee note 8)
60,626
172
273,126
4,800
333.752
4.972
60,798
277,926
338.724
UnTrstiicted
fvnds
2024
Restncted
funds
2024
Total
2024
Training
Share of goveman¢e costs
37,557
704
267.038
3, 180
304,595
3.884
38,261
270,218
308.479
Page 15

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
Support costs
2025
2024
Accountsncy fees
Independent examination fees
1.472
3,SOO
634
3,250
4.972
3,884
The charity allo¢ates costs direct to acliwb.es as far as possible and then rt identifie5 the remaining costy
of ils support lunclions.11 then identifies those Costs which relate lo the govemance function. Having
identified ils governance costs. the remaining support costs together the governance costs are
apportioned between the key chartsble acty'vilies undertaken in the year. The basis lor apportionment
and the analysis of support and governance costs is set out as follows..
Direct lo govemance.. Independent examination fees, other professional fees and bank charges.
Direct to charitable acb'vibes.. All other expendrture incurred.
No expenses have been apportioned betsveen the funds mentsoned above.
Reslricled funds have been received which allows payment of ￿me govemance costs.
Governance costs includes payments to the independent examiner of £3,50012024- £3,250> for
independent examination fee$.
Page 16

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
Taxation
The ¢harty is exempl from tax on income and gain$ falling wlhin seth'on 505 of the Taxes Act 1988 or
section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied lo ils
charitable objects.
10. Tru$t¢•s
None of the trustees {or any person connected wth Ihem) received any remuneration or benefits from the
charity during the year.
11. Staff ¢08ts
2025
2024
Wages and salaries
Social security ¢osl$
Other employee benefrts
24.375
3,042
585
28,002
The average number of person$ employed by the Chanty during the year was as follows..
2025
No.
2024
No.
Employees
No employee received remUnerat￿ft amounting to more than £60,000 in erther year.
Page 17

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
12. Tangible fixed assets
Plant and
Offic
machinery equipment
Total
Cost or valuation
At 1 June 2024
Additions
Disposals
296.417
2.504
{4.8201
16,988
6,655
13,7051
313.40S
9.159
18.5251
At 31 May 2025
294.101
19,938
314.039
D8preciation
At 1 June 2024
Char9e for the year
On disposals
190.921
11.019
{4,8201
13,738
1,917
13,4071
204.659
12,936
18.2271
At 31 May 2025
197.120
12,248
209.368
Not book value
Al 31 May 2025
96.981
7,690
104,671
Al 37 May2024
105,496
3,250
108, 746
Page 18

BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
13. Debtors
202$
2024
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
944
3,S30
8.234
6,465
36,330
6, 715
12.708
49.510
14. Creditors: Amounts falling due within on• year
2025
2024
Trade creditors
Other taxation and social securty
Other creditors
Accruals and deferred income
2.498
1.777
878
7,383
10, 773
9,269
12.536
20,042
Page 19

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BLYTH TALL SHIP
(A ¢¢mpany limited by guarnnte•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 202S
17. Other financial commitments
The lolal amount of other financial commrtmenls not prowded in the financial statements was £7,800
12024- £7,800).
18. R•lat•d party transactlons
The Charity has not entered into any related paty transaction during the year, nor are there any
outstanding balances owin9 beMEen related parties and the Charity at 31 May 2025.
The key management personnel of the charrty comprise the Iruslees, the Chief Executive and the
shipwright.
The total benefrts invoiced by the key management personnel of Ihe charity were £84,565 12024
£94,265). At the balance sheet date the amount due to key management personnel was £964 12024 -
£3,496).
The lotsl employment benefits received by the key management pefgonnel were £28,00212024'. £nill.
Page 24