CHARITY COMMISSION
FOR ENGLAND AND WALES
Trustees, Annual Report for the period
From Period start date 1st February 2023 To Period end date 31st January 2024
Charity name: Steamship Freshspring Trust
Charity registration number: 1151907
Objectives and Activities
SORP reference
Para 1.17
Summary of the purposes of
the charity as set out in its
governing document
To advance the education of the public through the
preservation and operation of a historic steamship,
and the promotion of maritime studies particularly
amongst young people for the public benefit.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.
Para 1.17and
1.19
By increasing Trust membership, opening the ship to
the public between April and October, providing
resources for schools, talks and educational visits to
the ship throughout the year. the Trust engages a
progressively wider audience in appreciation of
maritime heritsge and employment opportunities.
Through a range of public activity with statutory
authorities. partners and event participation,
members deliver a posltive message about heritage
and opportunities within the maritime and
engineering sectors. As a result of membership and
links with the Association of Independent Museums
{AIMI Trustees work to increase awareness of
industrial heritage, engineerin& maritime heritage
and the delivery of education leading to increased
awareness of heritage and positive career choices.
The Trust employs a Community Learning OfFicer on a
permanent basis with the aim of reaching out to
young people to promote maritime studies and
advance education.
During this year the Trust has also employed
Audience Development staff to ensure a wider range
of people engage with the heritage, funded by a
NLHF grant.
The longer term future of the ship has also been
progressed with a feasibility study and the
identification of a partner to support detailed
development planning.
Statement conf irm ing
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit
Para 1.18
In planning and carrying out our activities for the year
we kept in mind the Charity Commission's guidance
on public benefit at our Trustee meetings.

Additional information (optional)
You ma
ch¢X)se to include further statements where relevant about:
SORP reference
Grant making does not form part of our activities
Policy on grant making
Para 1.38
Social investment does not form part of our activities
Policy on social investment
including program related
investment
Para 1.38
The Trust is largely dependent on volunteer
participation to achieve its objectives. A dedicated
Trustee board leads the governance of the Trust.
With other volunteers and a paid member of staff,
Trustees progressively increase Trust membership
and volunteer activity, which includes ship
restoration, stewardinE open days and events,
fundraising and communication. As the activities and
development of the ship grow, along with eve nt
attendance, new opportunities for volunteer
contribution have increased, this leads to
compounding engagement and increasing
participation.
Contribution made by
volunteers
Para 1.38
Other

Achievements and Perforniance
SORP reference
The Trust over the post year has."
Engaged with Heritage Lottery Fund and gained
major funding to support the development of the
ship towards operation, the broadening of the
audience base and a plan to enable a more
sustainable future for the Trust.
Gained major media exposure on TV, radio and in
print as a result and of subsequent progress.
Helped create a new group supporting local
heritage charities
With this group, successfully worked to gain
heritage Harbour Statu5 for Bideford.
Partnered with other Trusts and education
providers to understand and deliver the
implication5 of our objects
Gained partnerships with education and
employment providers
Attended meetings and training events to better
understand and improve the
managementlgovernance ofthe Trust.
Recruited new Trustees and mapped skills to
enable recruitment of further board members.
Engaged consultants to support development
planning.
Involved knowledgeable volunteers in
development planning
Developed our relationships with complementary
organisations nationally.
Successfully raised sufficient funding for core
costs.
Building on a mutual support network in Devon,
carried out public surveys to better understand
public interest in maritime heritsge.
Positively engaged with local authorities to
achieve recognition and support of the Trusts
long term aims.
Engaged Naval architects to conduct a feasibility
study for returning the ship to operation
Summary of the main
achievements of the charity,
identifying the difference the
charity's work has made to
the circumstsnces of its
beneficiaries and any wider
benefits to society as a
whole.
Para 1.20

Additional information (optional)
You ma
chcx)se to include further statements where relevant about:
The year has been very positive as we celebrated
gaining a major grant from the NLHF and worked
hard as a team to deliver the first 9 months of the
planned programme. We employed audience
development stsff, evolved our marketing and
communications. improved data capture and
launched and ran a successful open season with a
range of new volunteers including several under 16,5
with their parents. We continued to develop
relationships with high profile partners to achieve our
green objectives for potential ship operation. We
employed a Trust Administrator to support the
strengthening of the Trust. In line with the Trust's
long-term development objectives, we have
undertaken a Governance review and have worked to
implement recommendations including the
recruitment of three new Trustees and the creation
of a range of sub groups to support the Trustee
board. The appointment of an evaluation and
development planning consultant has also been
achieved to support the long term future and
sustainability of the ship.
Working towards an operational future for the ship
herself, we engaged naval architects to review the
ship's suitability for carrying passengers. Volunteers
and trustees supported this engagement and the
study was delivered showing that it is possible and
that given the right investment in her structure, we
could be operational again.
Achievements against
objectives set
Para 1.41
We gained significant NLHF funding with a match
contribution from the Pilgrim Trust to deliver an 18
month programme of development.
In addition funds were raised from local Councils,
Trusts and Foundations to support core costs.
Perfomiance of fundraising
activities against objectives
set
Para 1.41
{optional)
Investment performance
against objectives
Para 1.41
{optional)
Other

Financial Review
Review of the charity's
financial position at the end
of the period
Para 1.21
We hold cash at the bank at 31st January 2024 of
£53,453 of which is £25.294 is unrestricted funds and
£28,159 is restricted.
Statement explaining the
policy for holding reserves
stating why they are held
Para 1.22
The 'Re5tricted' fund5 are made up of contractual
debts due but not yet paid, money received towards
specific projects not yet started or in progress.
We set aside £4.2000 annually towards 5 yearly dry
docking. We also see this growing fund as our reserve
which will support the charity and in the event of any
emergency or to cover winding up costs including
staff payments. It never falls below a minimum of
£5,000 but also grows to a maximum of £25,000 as
we save towards our 5 yearly dry docking.
Amount of reserves held
Para 1.22
£5,000
Reasons for holding zero
reserves
Details of fund materially in
deficit
Para 1.22
NIA
Para 1.24
No fund nor subsidiary undertaking identified as
materially in deficit
Explanation of any
uncertainties about the
charity continuing as a going
concern
Para 1.23
At the date of approving the report and accounts. no
uncertainties about the charity's ability to continue a5
a going concern were raised or identified
Additional information (optional)
You ma
ch(x)se to include further statements where relevant about:
Principal funding has been NLHF
The charity's principal
sources of funds (including
any fundraising)
Para 1.47
{optional)
Investment policy and
objectives including any
social investment policy
adopted
Para 1.46
Major risk 15 achieving core funding requirements.
A description of the principal
risks facing the charity
Para 1.46
The charity employs a Community Learningofficer on
permanent basis for 3 days per week.
Other

Structure, Governance and Management
Description of charity's
trusts:
Type of governing document
Para 1.25
Constitution adopted 10th April 2013
How is the charity
constituted?
Para 1.25
Charitable Incorporated Organisation (CIO)
gnratpd
Trustee selection methc(Js
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees
Para 1.25
Trustees are appointed or reappointed annually
atthe Annual General Meeting via the
membership. Trustees become eligible for re
election after 3 years. The Chair is elected
annually.
Additional information (optional)
You may choose to include further statements where relevant about:
{optionall
Policies and procedures
adopted for the induction and
training of trustees
Para 1.51
(optionallThe charity works in collaboration with
The River Torridge Heritage Group, Heritage Harbour
managed by Maritime Heritage Trust IMHTI, MHT
powered vessels group, BMT Global Ltd. University of
the West of England. Petroc College.
The charity's organisational
structure and any wider
network with which the
charity works
Para 1.51
{optionall
Relationship with any related
parties
Para 1.51
{optional)
Other

Reference and Administrative details
Charity name
Other name the charity uses
Registered charity number
Charity's principal address
Steamship Freshspring Trust
Steamship Freshspring Society
1151907
Little Cleave
Lower Cleave
Northam,
Devon
EX39 2RH
Names of the charity trustees who manage the charity
Trustee name
Office (rf any)
Dates acted rf not
for whole year
Name of person (or
body) entitled to
appoint trustee
rfan
Stephen
Attenborough
Conservator/Secretary
John Puddy
Chair/Education
Michael Teare
10/06/2023 -
3110112024
William Blythe
Finance
10/06/2023 -
3110112024
Martin Kemp
lo11￿/2023 -
31/01/2024
Huw Davies
Education
Brian Gooding
Annemarie
Shillito
PR/publications
Fundraising, Deputy
Chair
10
Corporate trUSt￿S - names of the directors at the date the report was approved
Director name
NIA
Name of trustees holding title to propety belonging to the charity
Trustee name
Dates acted rf not for whole ￿ar
NIA
NIA

Funds held as custodian trustees on behalf of others
Description of the assets
N/A
held in this capacity
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity's objects
Details of arrangements for
safe custody and
segregation of such assets
from the charity's own assets
N/A
Additional information {optional)
Names and addresses of advisers (Optional information)
Type of
Name
Address
adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
None
Other o
tional information

Declarations
The trustees declare that they have approved the trustees, report above.
Signed on behalf of the charity's trustees
Signature(s)
Full name(s)
TONL) Pu
Position (eg Secretary,
Chair. etc)
Date

CHARITY COMMISSION
FOR ENGLAND AND WALE5
Steamship Freshspring T￿￿t
1151907
Receipts and payments accounts
CC16a
For the period
from
To
01102123
31101124
Section A Receipts and payments
Unrestrlcted
funds
to the neaYe$t
Restrlcted
funds
Endowment
funds
to the nearest £
Total funds
Last year
to the nearest £
to the nearest£
to the nearest £
A1 Receipts
Gonts
Oonalions
Membèrship
GiftMO
Other
8.340
7,224
1089
187
4,716
106.830
115.170
7,224
2,089
187
4,716
30,168
7,492
3,621
2,127
10.538
Sub total(Gross income forAR)
22.556
106,830
129,386
53,945
A2 Asset and investment sales,
(see table).
Sub total
zzaz
Total receipts
22,556
106,830
129,386
53.945
A3 Pa ments
Grant Expenditure
Fundraising
Ship Costs
Insuran
Truslee I Vdunteer rxjsts
Salary costs
ProfessiDnal wsts
Membership
Other
85,469
85,469
4,711
3,201
7,661
3,208
11.225
3,838
773
27,992
7,814
285
96
4,711
3,201
4.406
833
17,546
1,384
2,310
2,309
36.699
833
17,546
1,384
2,310
2,309
Sub tota
85,469
122,168
62,892
A4 Asset and investment
purchases, {see table)
Com
uter Equipment
1,311
Sub tota
1.311
36.699
85.469
122,168
64.203
Net of receipts/(payments) -
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year en
14,143
21,361
7,218
10,259
39,437
25.294
6,798
28.159
46,235
53,453
56,493
46,234

Section B Statement of assets and liabilities at the end of the period
Unrestricted
funds
to nearest £
Restricted funds
Endovmient
funds
to ngarest £
Categories
Delails
to nearesl £
B1 Cash funds
Bank Acmunt
31,981
28.159
Total cash funds
25,294
28,159
(agree balances with Teceipts and payments
actountlsll
Unrestricted
funds
to neaTrst £
Restricted funds
Endowment
funds
to nearest £
Details
to nearest £
Fund to which
asset belongs
Cost loptionall
Current value
loptionall
Detsils
B3 Investment assets
Fund to which
asset belongs
Unrestricted
Details
Computer Equipment
Cost loptionar)
Currgnt value
{optionall
charity's own use
- 4111
Fund to which
liabilty relatgs
Amountdue
loptionall
Details
Whgn dug
{opfjonall
B5 Liabilities
Signed by one or tsvo trustees on
behalf of all the trustees
Signature
Print Name
Date of
approval
jC>TrJ NJ PU￿

CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Examiner's Report
Report to the trusteesl
members of
STeAMS+41 P FResHSPLlts16 TRL)ST
On accounts for the year
ended
31s i TAfvJUh-Ay ZOILÈ
Charity no
(if any)
1151907
Set out on pages
+A invliiAA Yi
I report to the trustees on my examination of the accounts of the above
charity ('the Trust") for the year ended 311 O I/ Z02¢k
Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation
basis of report of the accounts in accordance with the requirements of the Charities Act
2011 {'the Act").
I report in respect of my examination of the Trust's accounts carried out
under section 145 of the 2011 Act and in carrying out my examination, I
have followed the applicable Directions given by the Charity Commission
under section 145(5)(b) of the Act.
I have completed my examination. I confirm that no material matters have
come to my attention (other than that disclosed below ') in connection with
the examination which gives me cause to believe that in, any material
respect:
accounting records were not kept in accordan￿ with section 130 of
the Act or
the accounts do not accord with the accounting records
Independent
examiner's ststement
I have no concems and have come across no other matters in connection
with the examination to which attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
Please delete the words in the brackets rf they do not apply.
Signed:
Date:
25_11-2
Name:
FRAhfC&S (J ort￿1 LLO-/ t)
Relevant professional
qualification(s) or body
(if any):
ACfk4A L tr?-ÉTI )
Address:
TPIé UNiN)éV , FeAaklAM BA @Tofvj
ToP-12INI &TofvJ
&*3s< 7H Z
IER
October 2018