Registered company number: 09204944 (England & Wales)
Registered charlly numbar: 1159032
THE HISTORICAL DIVING SOCIETY
(a company limited by guarantee)
TRUSTEES, ANNUAL REPORT
(INCLUDING THE DIRECTORS, REPORT)
AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

The Historical Diving Society (Registered Number: 09204944)
Contents of the annual report
Page
Company information for the year ended 31 March 2025
Trustees. annual report (including the directors, report) for the year ended 31 March
2025
3-13
Independent examiner's report to the trustees of The Historical Diving Society {'the
Company,)
14
Statement of financial activitie5 (including income and expenditure account)
15
Balance sheet
16
Stalement of cash flow5
17
Notes to the financial statements
18-35

The Historical Diving Society
Company information
for the year ended 31 March 2025
DIRECTORS I TRUSTEES
The directors of the company. which is a charity. are its trustees for the purpose of charity law. The
directors al the date of approval of the Trustees. Annual Report, were as follows-
M B O'meara (Chair of the Board)
K F Casey
J A J Cullen
PHDick
E F James
L R Marder {appointed 3 Ociober 2024)
A J H Maishall
SJRoue
REGISTERED
(AND
PRINCIPAL)
OFFICE
The Civil Defence Control Centre
35 The Avenue
Gosport
Hampshire
United Kingdom
P012 2JS
REGISTERED
COMPANY
NUMBER
09204944 (England & Wales)
REGISTERED
CHARITY
NUMBER
1159032
BANKERS
Barclays Bank UK plc
PayPal
INDEPENDENT
EXAMINER
Compass Accountanls Limited
SOLICITORS
Womble Bond Dickinson (UK) LLP

The Historical Diving Society
Trustees, annual report (including the directors. report)
for the year ended 31 March 2025
The trustees, who are the directors of the company for the purposes of company law, present their
report and the financial statements for the year ended 31 March 2025. This repoit and the financial
statements also are prepared to meet the requirements for a directors, report and financial statements
for a charitable company.
The financial statements comply with the Charities Acl 2011, the Companies Act 2006, the
Memorandum and Arlicles of Association, and the charilies, Statement of Recommended Practice
(applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland,. FRS 102) issued in October 2019.
In this report, except where the context requires otheTwise, the Company is referred to as "the
Charity" and the directors are referred to as "Irustees..
THE OBJECTIVES OF THE CHARITY
The objects of the Charity as set out in its Articles of Association are:
"To advance the education of the public in Ihe study of the history of diving and to establish and
maintain a museum for the benefil of the public and preservation of items of historical and educational
value..
AIMS, STRATEGY AND ACTIVITIES
The Charity's:
aims, so as to meet its objectives,
its slrategy for achieving ils aims and objectives, and
the significant activities undertaken by the Charily during the year. and how they contribute to
the achievement of its stated aims and objectives,
are set out in the table starting on the next page.

The Historical Diving Society
Trustees, annual report (including the directors, report) - continued
for the year ended 31 March 2025
Aim
Maintaining a museum for the permanent exhibition and preservation of diving items of historical
and educational value.
Strategy
Operate and mainiain a Diving Museum.
Activltles
The Diving Museum is the most significant mechanism by which the Charily delivers its
charitable objects. The Charity's long-term vision for the Diving Museum is to become
'The Diving Museum- with national significance,, and to be recognised as the UK'S
leading museum exploring the hislory of diving.
The Diving Museum is accredited by Arts Council England.
The Museum is al No. 2 Battery. Stokes Bay, Gosport. When open, the Museum can be
visited by the general public- for the opening hours see the Diving Museum website
(www.divin
museum.co.uk). Members of The Historical Diving Society can visit the
Museum al a discounted rate set by the Board.
As parl of the Charity's long-term vision for the Diving Museum to become 'The Diving
Museum - with national significance,. work started in October 2023 on two projecls..
to carry oul repairs and improvements to No.2 Battery, the building that houses the
Museum., and
to develop the Museum's exhibition, and provide an improved inlerpretation and
leaTning programme (funded principally by Ihe National Lollery Heritage Fund).
Information on the progress of these two projects are set out below in the sections
headed "Repairs and improvements to the building housing the Diving Museum" and
"Development of the Museum's exhibition and related activities"
Due to the work being carried out, the Museum was closed throughoul the year. It is
hoped that the Museum will reopen in February 2026.
The funding from the National Lottery Heritage Fund covers not only capital costs, but
also..
the employment of a Museum Manager and a Community Engagement Officer., and
costs relating to an increase in engagement with the community.
One of the objectives of the Community Engagement Officer will to be increase the
number of visilors to the Museum, either during, or outside. the times when the Museum
is open to the general public.

The Historical Diving Society
Trustees, annual report (including the directors, report) - continued
for the year ended 31 March 2025
Aim
Advancing the education of the public in the study of the history of diving.
Slrategy
Operate and maintain a Diving Museum.
Hold in-museum evenls and talks.
Undertake outreach visits and talks to community and other groups.
Use the websites of the Charity and the Diving Museum.
Sell books and magazines relating to diving history.
Actlvltles
In-museum events and lalks were not held during the year due to Ihe closure of the
Museum.
There were four outreach visits and lalks to community and olher groups during the year.
One of the objectives of the Community Engagement Officer (see above) will be to
increase the number of in-museum events and talks, and outreach events and talks, as
compared to the situation prior to closuTe of Ihe Museum.
The websites of the Charity and the Diving Museum continued lo attract enquiries from all
age groups, varying from school projects to family history and technical queries on old
equipment.
The online shop continued to sell new. and second-hand. books and magazines relating
to diving history. Besides advancing the education of the public, any profit on such sales
generates funds lo help the Charity meet its other objectives.
Alm
Identifying, preserving, and maintaining archives associated with historical diving.
Strategy
Maintain a film archive and library of books related to historical diving.
Maintain a database of historical civilian divers and a database of Royal Navy divers.
Activities
The film archive and the library of books relating to historical diving have continued to be
maintained during the year.
The database of historical civilian divers and the database of Royal Navy divers have
been maintained during the year. The Charity welcomes enquiries about diving ancestors
or former colleagues who worked in underwater or allied occupations.

The Historical Diving Society
Trustees, annual report (including the directors, report) - continued
for the year ended 31 March 2025
Aim
Organising regular meetings on historical diving subjects.
strategy
Hold an annual conference.
Activities
The annual conference was held in November 2024.
Alm
Publishing appropriate literalure on historical diving subjects.
Strategy
Issue publications on mallers of hislorical diving inteiest.
Actlvltles
During the year the Charity published..
the bi-annual Historical Diving Time5:
the annual International Journal of Diving History;
the proceedings of the annual conference.
Alm
Preserving and protecting the UK'S rich diving heritage.
Strategy
Maintain and preserve a collection of hislorical diving artefacts.
Activitles
The collection of hislorical diving artefacts conlinues to grow. See"Heritage assets"
below for further information about the collection.
When requested, the Charily is able to provide advice on historic diving equipment.
The Charity measures its success in meeting its aims and objectives through two formal measures:
recording the number of visitors to the Museum, to the websites of the Charity and the
Museum, the number of individuals at outreach activities or attending in-museum talks, and
comparing the resulls with previous years- and
at each quarterly board meeting and at the annual general meeting, the Board reviews the
Charity's progress against its 10 year Forward Plan.

The Historical Diving Society
Trustees, annual report (including the directors, report) - continued
for the year ended 31 March 2025
The Worklng Equlpment Group
Until 2023, the Charity, through its Working Equipment Group (WEG). ran recreational dives using
historic diving equipment. In 2023, the trustees Commissioned a review of those diving activities with
regard to the associated legal duties, responsibilities. risks and insurance requirements. The review
was carried oul by a well-known and respected professional scienlisl who has worked across the
diving industry.
In October 2024, and following that review, the trustees agreed thal no more such diving operations
would be conducted undei the auspices of the Charity, due to the increasing responsibilities and
liabilities which the safe recreational diving of historic diving equipment demands. As a result of this,
the WEG was disbanded.
The Charily will continue to meet its staled objects and strategic aims through participation in public
events, exhibitions and displays of historic diving equipment, involving laying out equipment,
explaining its use and history, practical demonstrations of dressing a diver, pholographic opportunilies
and handling the equipment.
PUBLIC BENEFIT
The trustees have Complied with the duly in seGtion 4 of the Charities Act 2011 and had regard to the
public benefit guidance as issued by the Charity Commission.
During the year the trustees have referred lo the guidance on public benefit when reviewing the
Charity's aims and objectives, and in planning those activities. In particular, the trustees have
considered how planned activities would contribute to the aims and objective5 that they had sel.
This public benefit stalemenl forms the basis for all judgements regarding operational reports io the
Iruslee meetings, in order to be reassured that the facilities and services that are managed by Ihe
Charity meet those criteria. At those meetings, the current financial position is reviewed, including
taking account of any restricted funds and Ihe funding needs of the Charity.
THE CHARITY'S MEMBERS
The Charily's membeiship includes individuals and organisations across the entire spectrum of diving
interest - archivisls, archaeologists, authors, artists, bibliophiles. collectors. dealers. engineers,
genealogists, manufacturers, museums. oceanologists. photographers, researchers, scientists, divers
and ex-diveis from all corners of the world.
OUR VOLUNTEERS
The Charity is run wholly by volunteers. The Charity has around 30 volunteers, who are involved in
the Charity's many areas, as follows:
as truslees-
as guides and helpers in the Diving Museum.,
in the Museum's archives, and curation of the Museum'5 artefacts"
in the 'green team, looking after the grounds of the Museum and its archives, building.
other diving-related activities, events. talks, etc;
fundraising and dealing with regulators.

The Historical Diving Society
Trustees, annual report (including the directors, report) - continued
for the year ended 31 March 2025
online shop and membership records;
website and social media-
accounting and administration.
HERITAGE ASSETS
The collection
The Charity owns a wide collection of diving-relaled artefacts and literature ranging from diving-
related toys to diving bells, from diving company catalogues to scientific publications on diving
research and diving medicine. They include all aspects of diving.. sport. scientific, commercial.
archaeological, naval, and entertainment. They cover the period of the past 2,000 years.
Vvhen open, the Diving Museum displays historical arlefacts from the Charily's collection. There is
also an extensive reserve collection held in ils archives. The database holding details of the
collection (including items on loan to the Charity), records in excess of 9,000 items, and is the
principal management tool used.
The Collection Database is available to inlerested parties wishing to research any item bearing in
mind data protection requirements.
The decision to acquire or dispose of a collection item rests with the Museum Director following
discussion with the Board and Diving Museum Working Group. Both acquisition and disposal are
carried out openly and with Ir2nsparency, and in accordance with the accreditalion and the
requirements of the Colleclions Trust's Spectrum 5.1 Standard.
The main priority for future acquisitions is to improve the quality of the Collection by reGognising gaps
in it and adding these items to the Charity's target list. The aim is not to make the collection bigger
but to improve the overall quality.
The Charity recognises that the principles on which priorities for rationalisation and disposal are
determined will be through a formal review process that identifies which items are included and
excluded from the review. The outcome of review and any subsequent ralionalisation will not reduce
the quality or significance of the collection and will result in a more useable. better managed
collection.
The procedures used will meet professional standards. The process will be documented, open and
transparent. There will be Clear communication with key stakeholders aboul the outcomes and the
process.
Archlves, Ilbrary* and store
The Civil Defence Control Centre at 35 The Avenue, Gosporl, continued as the Charity's archives,
library, and store. The library is available for research activity by prior arrangement.
REPAIRS AND IMPROVEMENTS TO THE BUILDING HOUSING THE DIVING MUSEUM
At the beginning of October 2023. the Museum closed to the public to allow the building contractors to
start work on the repairs and improvements to the building. The majority of this work was completed
at the end of December 2024.

The Historical Diving Society
Trustees, annual report (including the directors, report) - continued
for the year ended 31 March 2025
The work covered three areas.
To solve an issue with water ingress and the internal environment of the Museum. Arts
Council England (Museum Estate and Development Fund - MEND) provided a grant towards
the cost.
Access improvements (including disabled access) to the Museum, and repairs to the fabric of
the building. Arts Council England (Capital Investment Programme- CIP) provided a grant
towards the cost. Since the work was completed, the Charity has been required to include an
additional fire exil, and this is expected to be covered within the scope of the giant.
Restoration of the interior and exterior fabric of the building, and elimination of waler ingress.
Historic England provided a grant towards the cost. and an extra grant towards some
additional work that was required.
DEVELOPMENT OF THE MUSEUM'S EXHIBITION AND RELATED ACTIVITIES
This project aims to work collaboratively wilh the local community to create an accessible and
engaging exhibition and improved inlerpretalion and learning programme. In addition, the project
involves carrying out essential planning for Ihe conservation and management of the building and the
operation of the Museum.
During the financial year, the National Lollery Heritage Fund awarded the Charity a grant of £802,604
towards a planned cosl of £1,032,000 to deliver the project. The grant and costs relate to capital
works and ongoing aclivities until the financial year 2027128. The funding will be received as
the project progresses. It is expected that the Museum will remain closed until February 2026.
FINANCIAL REVIEW
The repalr and Improvements project and the Iyluseum development project
The projects (see above) have been the principal focus of the Charity's activities in the year,
given..
the cost of the work.,
the third-parly funding ffom the principal grant providers (the Arls Council, Historic England,
and the National Loiiery Heritage Fund),.
the generation of additional grants for specific elements of the Museum's developmenl., and
the generation of further grants and donations to assist with the funding of the Charily's share
of the cosls of the work.
Funding of Ihe projects to date has been successful, but efforts are ongoing to generate further grants
andlor donations to assist with funding the Charily's share of the cost of the Museum development.
The two projects have a tolal cost over their lives of about £2.1 million, with the Arts Council, Historic
England and the National Loltery Heritage Fund contributing about £1.7 million. In addition to the
above grants. the Charily has been grateful for major grants and donations towards Ihe projects from
the organisations shown below..

The Historical Diving Society
Trustees, annual report (including the directors, report} - continued
for the year ended 31 March 2025
Financial year ended 31 March 2025
Arts Council England (in addition lo the repair
and improvemenl project grants)
Gosport Borough Council
Hampshire County Council
Museum Development South West
The Royal Sociely of London
Prevlous flnanclal years
Architectural Heritage Fund
Gosport BoTough Council
Hampshire County Council
IMCA (International Marine Contractors
Association)
South East Museums Development Programme
Subsea7
In addition, the Charily is grateful for donalions from the following diving-related organisations - The
Vernon Mine Warfare and Diving Monument. Royal Naval Minewarfare & Clearance Diving Officers,
Association, and Association of Royal Navy Firsl Class Divers- as well as many smaller donations
from other organisations and individuals.
During the financial year, the Charity applied to The Pilgrim Trust for a grant to support the resloration
of the Museum building. A granl of £15,000 was received after the year end.
The note, "Statement of the Charity's funds., in the financial statements, shows the grants and
donations received in the year and the preceding year, and the amounts spent against them.
Flnanclal posltlon
Other than the various grants and donations towards the repairs and improvements project, and the
Museum development project, the Charity's principal funding sources in the year under review, were:
annual subscription fees for members of the Charity - £8,258.
proceeds of sale of books and merchandise, principally Ihrough the online shop- £12,625.
and
general donaiions - £2,380.
Together with smaller income sources. these enabled the Charily to carry out ils charitable activities.
The grants and donations that are being used to part-fund the repairs and improvements to the
Museum building and to develop the Museum exhibition. have been a significant source of funds.
This funding and the related expenditure, are a significant event that has affected the financial
performance of the Charily and its financial position at 31 March 2025. The amounts have been..
the receipt of restricted funds totalling £565,383: and
the expendilure (including capital expenditure) from those funds lotalling £255,601.
Charitable funds
At the year end, the Charity had charitable funds of £532.787. This comprises..
a variety of restricted funds thal arise from grants and donations, and which can be used only
for Ihe purpose for which they were given=
funds designated for a particular purpose (see "Reserves" below). and
10

The Historical Diving Society
Trustees. annual report (including the directors, report) - continued
for the year ended 31 March 2025
the Charity's unrestricted general fund. which can be used for any of the Charily's charitable
purposes, though much of this fund is committed to funding the Charity's fixed assels shown
in the balance sheet, and the Charity's future share of the cost of the Museum development.
Details of the components of the above funds are given in the note to the financial statements.
°Stalement of the Charity's funds". As shown in thal note, the amount of the charilable funds has
increased by £269,923 (of which £225.649 relates to the unrestricted general fund). This large
increase is due to..
capital expenditure on improvements to the Museum building, and related plant and
equipment, which have been funded by the restricted income from the Arts Council"
this capital expenditure being depreciated over Ihe estimated useful economic lives of the
assets.,
the depreciation being charged against unrestricted income., and so
the amount of that capital expenditure has been transferred from restricted income to the
unrestricted general fund.
Reserves
The trustees have set a reserves policy for financial stability.
The trustees of the Charity will endeavour lo set the reserve at a level lo provide financial stability and
the means to meet the Charily's charitable objectives for the foreseeable future. As such, the trustees
will endeavour to maintain the Charily's financial reserve at a level which is at least equivalent to the
lesser of..
the expected operating expenditure, less expected membership fees, for the next 12 months
(for this purpose, expenditure does not include expenditure on tangible fixed assets, or
expenses that would be expected to be funded by income); and
Ihe total amounl of the Charity's unrestricted funds less any unrestricted funds that may not
be readily available for spending, when spending those funds might adversely affect the
Charity's ability to deliver ils chaiitable objectives, such funds not readily available being
equal to..
the amount of any tangible fixed assets used to carry out the charily's activities.
any designated funds set aside to meet essential future spending. such as funding a
project thal could not be mel from future income.
commitments that have not been provided for as a liabilily in the accounts.
The trustees will review the policy and the amount of financial reseNe at least once every financial
year.
As a result of the above, at the start of Ihe financial year under review, there was a reserve of £22,000
held as a designated fund balance. During the year. the Board agreed to continue the policy, but not
to change the amount set aside, the amount to be reviewed after the Museum reopens.
11

The Historical Diving Society
Trustees, annual report (including the directors, report) - continued
for the year ended 31 March 2025
Principal risks and uncertainties
The principal risks facing the Charity at 31 March 2025 relate to the Museum development project:
the mis-match in cash flow belween the timing of payment for work carried out. and the
receipt of grant.,
the need to generate additional third-party funds to assist with the funding of the Charity's
share of the project costs:
thal the development of the Museum will not generate the expected increase in visitors to the
Museum, resulting in reduced income from that expected.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure
The Historical Diving Society is a company limited by guarantee, and is a charity. It is controlled by its
governing document which, as a company, is lis Articles of Association that were approved by the
members in November 2023.
Governance and management
The Board will consist of at least three, and not more than iwelve Irustees.
A trustee must be a member of the Charily. The trustees are to be elected by the members of the
Charity, and serve for a period of three years, though they may be re-appointed. The Board may co-
opt a member of the Charity to be a trustee in order to fill a vacancy. though that co-opted individual
holds office only until the next annual general meeting.
The'company information. on page 2 of this annual report shows delails of..
the directors I truslees in office during the financial year and at the date of this Report-,
the address of the Company's registered (and principal) office:
the Company's registration number., and
ils charity registration number.
The trustees are all unpaid volunteeis, and the Charity does not have any key management
personnel. The Charity does nol have a treasurer: instead. the Board has a Finance Sub-commitlee,
ils Chair reporting to Ihe Board at leasl at each Board meeting.
All substantive decisions are made by the Irustees. During the reporting period, and up to the date of
approval of this report, the trustees have not delegated day-to-day management of the Charity.
The Board is supported by two permanent working groups on which at least two trustees sit..
Dtving Museum. and
Standing Projects.
Addilional temporary project groups are formed as required.
12

The Historical Diving Society
Trustees, annual report (including the directors, report) - continued
for the year ended 31 March 2025
The policies and procedures for the induction and trainlng of trustees
New Truslees are inducted to the Board by means of a 'welcome and familiarisation pack,. This
includes such matters as the code of conduct, conflicts of interest, terms of reference. the Articles,
and includes a link to Charily Commission guidance. Ongoing training of Trustees is provided when
appropriate, for example when there are changes to rules and regulations, by either the Chair of the
Irustees or an outside consultant.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The truslees (who are also the directors of the company for the purposes of company law) are
responsible for preparing the trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under
company law, the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the slate of affairs of the Charily and of its incoming resources and
applicalion of resources. including ils income and expendilure. for that period. In preparing these
financial statements. the trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charilies SORP (FRS 102).,
make judgements and accounting estimates that are reasonable and prudent;
state whether UK accounting standards {FRS 102) have been followed, subject to any
material departures disclosed and explained in the financial statements;
prepare the financial statemenls on the going concern basis unless it is inappropriate to
assume that the Charily will continue in business.
The tiustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the Charity's transactions and disclose with reasonable accuracy at any time the financial
position of the ChaTlty and enable Ihem lo ensure Ihat the financial slalements comply with the
Companies Act 2006. They are also Tesponsible for safeguarding the assets of the Chaiily and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
APPROVAL OF THE REPORT
In preparing the directors. report, advantage has been taken of the small companies exemption in
Part 15 of the Companies Acl 2006.
This report was approved by the Board and signed on its behalf by:
M B O'meara - Chair of Ihe Board
13

Independent Examiner's report to the Trustees of
The Historical Diving Society {'the Company,)
I report to the Charity trustees on my examination of the accounts of the Charity for the year ended 31
March 2025.
Responsibillties and basis of report
As the truslees of the Charity (and also its directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordan￿ with the requirements of the Companies
Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Charily are not required lo be audited under Part 16
of the 2006 Act and are eligible for independent examination, I reporl in respect of my examination of
the Charity's accounts as cairied out under section 145 of the Charities Aci 2011 ('the 2011 Act'}. In
carrying out my examinalion I have followed the Directions given by the Charily Commission under
section 145(5)(b) of the 2011 Act.
Indopendent examlner's stalement
I have completed my examination. I confirm that no matters have come to my attention in connection
with the examination giving me cause to believe-
accounting records were not kept in respect of the Company as required by section 386 of the
2006 Act., or
2. the accounts do nol accord wilh those records.. or
3. the accounts do not comply wilh the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair, view which is not a matter
considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by chaTlties lapplicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with Ihe examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
This reporl is made solely to the Charity's trustees. as a body, in accordance with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I may
state to the Charity's trustees those matters l am required to state to them in an Independent
Examiner's report and for no other purpose. To the fullest extent permilted by law. I do not accept or
assume responsibility to anyone other than the Charity and the Chaiity's tTUStees as a body, for my
work or for this report.
Signed..
Dated: Isr &EPTri I&EL £o2S
Name: Kerry Lawrance
Professional qualification: FCA (Senior Statutory Auditor)
Compass Accountants Limited
The Tanneries
East Street
Titchfield, Fareham, P014 4AR
14

The Historical Diving Society {Registered Number: 09204944)
Statement of Financial Activities {including Income & Expenditure Account)
Unrestrlcted
funds
Restricted
funds
Total
funds
Total
funds
For the year ended 31 March
2025
2025
2025
2024
Notes
Income from:
Donations and grants
Charitable activities
2,380
11,374
13,541
565,383
567,763 379.785
11,374
25,076
13.541
18,939
702
32
Other trading activities
Other income
702
Bank deposit interest
Total Income
2,127
29,422
2,127
3,256
595.507 427,088
566,085
Expendlture on:
Raising funds
Charitable activities
8.919
60,794
69,713
8,919
316,665
325,584
16,349
464,382
480,731
255.871
255.871
Total expendlture
Net Income I lexpenditure)
Transfers between f unds
(40,291)
238.687
198.396
310.214
(238.687)
71,527
269,923 (53,643)
20
Net movement in funds
269,923 153,643)
Reconciliation of funds
Total funds brought forward
Total funds carrSed forward
253.838
452,234
9,026
80,553
262,864 316.507
532,787 262,864
20
The statement of financial activities includes all gains and losses recognised in the year. All income
and expenditure derive from continuing activities.
The notes on pages 18 to 35 form part of these financial statements.
15

The Historical Diving Society (Registered Number: 09204944)
Balance sheet
Unrestricted Restricted
funds
funds
Total
funds
Total
funds
As at31 March
2025
2025
2025
2024
Notes
Flxed assets
Tangible assets
Herilage assets
15
313.463
313,463
84,546
16
313,463
313,463
84,546
Current assets
Stock
17
6.019
355
6,019
7,028
56,636
635
190.686 336,075
253,341
343.738
Debtors
18
56.281
55.492
111.773
Cash and cash equivalents
135,194
141,568
Llabllltles
Creditors- Amounts falling due within
one year
19
2.797
31,220
34,017
165,420
Net current assets
138.771
80,553
219,324
178,318
Total assèts less Current Ilabllltles
(Nèt assets)
452,234
80,553
532,787 262,864
Funds of the Charity
Restricted income funds
Unrestricted funds
20
80,553
80,553
17,211
245,653
532,787 262,864
20
452.234
452.234
Total funds
80,553
The company is entitled to exemption from audit under section 477 of the Companies Act 2006 for the
year ended 31 March 2025. The members have not required the company to obtain an audit of its
financial statements for the year ended 31 March 2025 in accordance with section 476 of the
Companies Act 2006. The trusteesldirectors acknowledge their responsibilities for complying with the
requirements of the Companies Act with respect to accounting records and the preparation of
accounts. These financial statements are prepared in accordance with the provisions applicable lo
companies subject to the small companies regime.
The financial statements were approved by the Board ol TrusteeslDirectors and aulhorised for issue,
and signed on its behalf by:
M B O'meara
Chair of the Board
Date..
The notes on pages 18 to 35 form part of these financial statements.
16

The Historical Diving Society (Registered Number: 09204944)
Statement of cash flows
For the year ended 31 Ivlarch
2025
2024
Cash flows from operatlng actlvlt5es:
Net cash provlded by (used in) operating activbties (see
below)
122.578
73,683
Cash flows from Investing activities:
Bank interest
2,127
702
3,256
32
Sale of items from the Charity's collection
Purchase of tangible fixed assets
Net cash provlded by lused in) Investing activities
(270.796)
(267,967)
(45,854)
(42,566)
Change In cash and cash equlvalents..
(145,389)
31,117
Cash and cash equivalents:
At the beginning of the reporting period
At the end of the reportlng perlod
336,075
190,686
304,958
336,075
Net Income/{expendlturel for the reportlng perlod (as In
the Statement of Financial Activities)
Adjustments for..
Depreciation charge
Decrease in stock
269,923
(53,643)
18,333
1.009
(56,001)
(107,857)
(702)
(2,127)
122,578
900
1,083
2,153
126.478
(32)
{3,256)
73,683
(Increase)Idecrease in debtors
Increasel(decrease) in creditors
Sale of items from the Charity's collection
Bank interest
Net cash provided by (used in) operatlng actlvities
A reconciliation of nel debt is not presented, as there are no componenls other than the "Cash and
cash equivalents. shown in the balance sheet.
The notes on pages 18 to 35 form part of these financial statements.
17

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial statements
for the year ended 31 March 2025
Legal status of the Company
The Historical Diving Society, a charity, is a private company limited by guarantee and does
not have a share capital. In the event of the Charity being wound up, the liability in respect of
the guarantee is limited to £1 per member of the Charity.
The Company is registered in England & Wales, with registralion number 09204944. Its
registered office is The Civil Defen￿ Control Centre, 35 The Avenue, Gosport, Hampshire.
As a charitable company, in these notes to the financial statemenls. the directors are referred
to as trustees.
Basis of proparatlon
The financial statements have been prepared in accordance with:
the Charilies: Statement of Recommended Practice (applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102)) (effective 1 January 2019) - (Charities SORP (FRS
102));
section 1A of the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102); and
the Companies Act 2006.
The Historical Diving Society meets the definition of a public benefil entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless
otherwise staled in the relevant accounting policy.
The financial statements are presented in £ sterling which is the functional currency of the
Charity. Monetary amounts in the financial statements are rounded to the nearest £.
At the time of approving the financial statements, Ihe Irustees have a reasonable expectalion
that the Charity has adequate resources to continue in operational existence for the
foreseeable fulure. Accordingly, the trustees conlinue to adopt the going concern basis of
accounting in preparing the financial ststements.
The financial statemenls present a true and fair view and changes have not been made to
the accounting policies adopted in note 3 as compared lo the previous year, other than to
introduce policies for those items occurring for the first time in Ihis year's financial
statements.
No changes to accounting estimates have occurred in the year. and no material prior year
errors have been identified in the year.
18

The Historical Diving Society {Registered Number.. 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
Accounting policies
The principal accounting policies adopted. judgements and key sources of eslimation
uncertainty in the preparation of the financial statements are as follows.
Income
Income is recognised in the Statement of Financial Activities when all the following criteria
are met..
the Charity has entitlement to the funds.
any performance conditions attached to the income have been met or are fully within the
control of the Charity.
it is probable that the income will be received-, and
the amount can be measured reliably.
Grants are recognised in income when there is reasonable assurance that any terms and
conditions will be met and that Ihe grant will be received. The trustees believe that they
have, and will, comply with all the requirements of the grants, so as lo ensure that none of
them will become repayable.
Income from sales includes delivery charges for sales made online.
Donated services and goods
Donated services and donated goods are recognised as income when the Charity has
control over the item, any conditions associated with the donated item have been met, the
receipl of economic benefit from the use by the Charily of the item is probable and that
economic benefit Can be measured reliably.
Where it is impractical to measure the fair value of goods donated for resale, or if the costs of
valuation outweigh the benefit to users of Ihe financial statements and the Charity of this
information, the donated goods are recognised when they are sold. On sale, the proceeds
are included in "Income from other Irading activities..
Donated 5ervice5 are recogni5ed on the basis of the value of the gift to the Charily which is
the amount the Charity would have been willing to pay to oblain services or goods of
equivalent economic benefit on the open market; a corresponding amount is then recognised
in expenditure in the period of receipt.
The Charity did nol have any employees during the year, and all its activities are undertaken
by unpaid general volunteers. In accordance with FRS 102 and the Charities SORP (FRS
102), the economic contribulion of general volunteers is not recognised in the financial
statements.
19

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment
to a third party, it is probable that settlement will be required and the amount of the obligation
can be measured reliably. Expenditure is classified under the following activity headings:
Raising funds - all costs incurred to raise funds for the Charity's charitable purposes,
including fund-raising, the shop (both within the Museum and online), and events that are
not related to diving., and
Charitable activities all costs incurred in undertaking activities that further the Charity's
charitable aims for the benefit of its beneficiaries.
The expenses for central support services and governance have been allocated to activities,
as fequired by the Charities SORP (FRS 102). Vvhere an expense is applicable to a
particular activity, il has been allocated lo that activily. If not applicable to a particular activity
It has been allocated as follows:
Website - 25 /0 Raising funds. 500h Diving Museum and 250k Olher charitable.
Bank and related charges- split equally bebween raising funds and the Diving Museum.
other costs - allocaled equally across all the activities.
Irrecoverable VAT is included with the relevant expense, except where it is staled otheNise.
Operatlng lease
The Charity has a lease for a period of 99 years from 14 October 2021 on the Grade Il. listed
building known as No. 2 Battery. which was built in the 18605. The lease has been treated
as an operating lease, as..
a premium was not payable for the grant of the lease.
the property is rent-fiee for five years, after which a renl might be payable, The trustees
expect Ihat the properly will remain rent-free for the period of the lease.,
the Charity can terminate the lease after 25 years and every five years thereafter, and
Ihe lessor may terminate the lease after 25 years if certain repair work has not been
carried out.
usage of the property is restricted to being a diving heritage museum together with
ancillary use as an educational and cultural institution.
As a rent has not been payable under the lease, the value of the rent to the Charily,
under the Charilies SORP {FRS 102). should be treated as a donation and a lease
expense. However, as permitted, that treatment has not been adopted, as the value to the
Charity of thal amounl cannot be measured with sufficient reliability.
Taxation
The Charily is exempt from corporation tax on its charitable activities.
20

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
Tanglble fixed assets
Individual fixed assets costing £1,000 or more are capitalised at cost (including relaled
professional fees) and are depreciated over their estimated useful economic lives on a
straight-line basis from Ihe year of acquisition (or commissioning, if later). as follows.
Freehold
property:
The Charity owns a Grade11 listed freehold property acquired by its
predecessor charity, for negligible consideration. in 2015. A value was not
allributed to it on acquisition due to:
there being restrictions on the use of the property - it cannot be used
for any purpose other than as a museum, library, educational or similar
community use., and
the building's poor state of repair and internal condition.
As the building is Grade11 listed, the trustees consider that it has an
Indefinite useful economic life. Mainlenance costs are expensed as
incurred. Additions that are not pail of the building are depreciated over 10
years.
Leasehold
property
additions=
Additions to the leasehold propety, other than equipment additions, are
amortised over varying lives from 20 to 50 years.
Plant &
equipment.
Assets in
course of
construction:
Deprecialed over lives between 5 and 10 years.
Not depreciated unlil Ihe year of completion {or commissioning, if later).
Heritage fixed assets
The artefacts comprising Ihe Museum's collection fall within the definition of Heritage Assets
in the Charities SORP (FRS 102).
Mosl of the collection was donated to the Charity on 31 March 2022. Since then, further
donations have been made. The Trustees consider Ihat because of the large number of
individual artefacts. and the unique nature and condition of each artefact, it would be difficult
to atliibute reliable values to them. In addition. the Cost would nol be commensurate with the
benefit to the users of the financial statements or lo the Charity. Accordingly, they are
excluded from the balan￿ sheet as permitled by the Charities SORP (FRS 102).
Individual artefacts purchased since 1 April 2022 and costing more than £1,000 are included
within Heritage fixed assets at cost price. They are not depreciated as they are considered
to have indefinite useful lives. An annual review is carried out to consider whether
impairment has occurred due to, for example, physical deterioration or damage.
stock
stock for retail sale is valued at the lower of cost and net realisable value, after making due
allowanoe for obsolete and slow-moving items.
21

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial staternents - continued
for the year ended 31 March 2025
Debtors and creditors
Debtors are included at the amount recoverable, or in the case of prepayments and accrued
income, the estimated amount recoverable.
Trade and other creditors are included at the amount payable. Accrued expenses are
included at the estimated expense that relates to the financial year though not invoiced
before the year end.
Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposils held at call wilh the Charily's
bankers.
Flnanclal Instruments
The Charity has elected to apply the provision5 of sections 11 and 12 of FRS 102, and has
only "basic financial instruments. as described therein. Financial instruments are recognised
when the Charity becomes paity to the contraclual provisions of the instrument. Financial
assels and liabilities are offset. with the net amounts presented in the financial statements,
when there is a legally enforceable right lo set off the recognised amounts and there is an
intention to settle on a net basis or to realise Ihe asset and settle the liability simultaneously.
These financial instruments are those shown as Irade debtors. cash and cash equivalents,
and trade creditors.
Fund accounting
Unrestricled funds can be used in accordan￿ with the charitable objectives at the discretion
of the trustees.
Restricted funds are donations and grants that the provider has specified are to be used only
for particular areas of the Charity's work or for specific projects being undertaken by the
Charity, or are income arising on sale of surplus items in the Charily's collection.
Expendilure on tangible fixed assels thal is funded by a restricted grant is matched by a
transfer from restricted funds to the unrestricted General Fund. Other expenditure Ih8t is
funded by a restricted grant is identified initially to the relevant reslricled fund. Where the
Charity is required as a condition of a granl to fund part of the relevant expenditure, a
transfer is made from the unrestricted General Fund to the relevant restricted fund. based on
the expenditure incurred.
Further explanation of the nature and purpose of each restricted fund is included in note 20.
22

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
Income from donations, legacles and grants
Unrestricted
funds
2025
Restricted
funds
2025
Total
funds
2025
Total
funds
2024
Donations
2.380
19,577
545,806
21,957
545.806
8,337
371.448
Grants
2,380
565,383
567,763
379.785
All of the income for 2024 was restricted funds, except for donations of £3,337.
The amounts shown above for grants. include the following from government and public-
sector bodies.
2025
2024
Arls Council - MEND Grant
46,739
220.499
143.138
Arts Council- CIP grant
Historic England
National Lollery Heritage Fund
Gosport Borough Council
Hampshire County Council
South East Museums Development Programme
Museum Development Soulh West - On Displayl
Arts Council- Unlocking Colleclions
Heritage Compass
315,910
61.430
29,125
15,500
25,000
15,500
6,013
3.000
25,000
4,900
371,448
540,306
A description of the purpose of each of the above grants is given in note 20.
23

The Hlstorical Diving Society (Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
Income from charitable actlvlt5es
Unrestricted Restricted
funds
funds
202S
2025
Total
funds
2025
Total
funds
2024
Diving Museum entry
Membership subscriptions
Outreach
9,833
9,353
1,100
1,700
2,320
770
8,258
596
8,258
596
Working Equipment Group
Conference
2.520
2,520
Events - diving related
11.374
11,374
25,076
All of the income for 2024 was unrestricted funds.
Income from other trading actlvltles
Unrastrlct8d Restricted
fund8
funds
2025
2025
Total
funds
202S
Total
funds
2024
Shop sales - Museum and online
Social lotteiies
12.625
179
12,625
179
16,961
531
Museum- outside users
425
425
1,216
231
Other
312
312
13.541
13.541
18,939
All of the income for 2024 was unre51ricted funds.
Other Income
Unrestricted Restrlcted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Sale of items from the Charity's
collection
702
702
32
All of the income for 2024 was Testricted funds.
24

The Hlstorical Dlving Society (Registered Number: 09204944)
Notes to the financial statements- continued
for the year ended 31 March 2025
Expendlture on raislng funds
Unrestrlcted Restricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Consultancy
Shop - cost of sales
Events- non-diving related
other expenses
Cenlral supporl services and
governance
5,250
10,001
101
7,581
7,581
151
151
1,187
1.187
997
8,919
8,919
16,349
£4,900 of the Consultancy expendilure for 2024 was from restricted funds.
Expendlture on charltable actlvltles
Unrestrlcted Restrlcted
fund6
funds
2025
2025
Total
funds
2025
Total
funds
2024
Conference
693
693
963
Conservation of artefacts
1.312
4,340
1.312
210,414
17
311
Building repairs and improvements
Museum development- planning
Museum development- exhibition
Museum development- aclivities
Maintenance and minor additions
206.074
17
343,424
87,047
13,882
41.589
8,191
55.471
8,191
1,302
18,333
1,302
18.333
5,754
900
Depreciation
Working Equipment Group
Museum occupancy
Publications for members
1,902
9,598
9,378
1,599
3.506
3.326
11.261
1.910
4,435
3,326
11,261
1,910
4,435
Other expenses
Central support services and
governance
60.794
255,871
316,665 464,382
All of the expenditure for 2024 was from unrestricted funds. except for £343,244 of Building
repairs and improvements, £87,047 of Museum development - planning. £1.077 of Working
Equipment Group, and £922 of Other expenses.
25

The Historical Diving Society {Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
10 Analysls of expenditure on charitable activities
Dlvlng Publlcatlons
Museum for members
Year ended 31 March 2025
Other
Total
Conference
693
693
Conservation of artefacts
1,312
210.414
63.679
1.312
210,414
63,679
Building repairs and improvements
Museum development- planning,
exhibition and activilies
Maintenance and minor addilions
1.302
18.333
1,302
18,333
Depreciation
Working Equipment Group
Museum occupancy
Publications for members
3.326
3,326
11,261
1,910
4,435
316,665
11,261
Other expenses
Cenlral supporl services and governance
1.910
3,207
303,483
453
775
11,714
1,468
Diving Publlcatlons
Museum for members
Year ended 31 March 2024
Other
Total
Conference
963
963
Conservation of artefacts
311
311
Building repairs and improvements
Museum development- planning
Maintenance and minor additions
343,424
87,047
5.754
900
343,424
87.047
5,754
900
Depreciation
Working Equipment Group
Museum occupancy
Publications for members
1,902
1,902
9,598
9,378
1,599
3,506
464,382
9,598
9,378
other expenses
Central support services and governance
1,599
2,497
451,130
476
533
9,854
3,398
26

The Historical Diving Society (Registered Number: 09204944}
Notes to the financial statements - continued
for the year ended 31 March 2025
Central support services and governance
Raislng
funds
Diving
Museum
Publlcations
for members Other
Year ended 31 March 2025
Total
Support services:
Website
324
647
323
1,294
821
Bank and related charges
other
410
411
82
82
82
82
328
Governance:
Legal
Professional and consultancy
Accounting
285
1.981
285
285
2,836
343
86
86
85
1,187
3,207
453
775
5,622
Ralsing
funds
Diving
Museum
Publlcatlons
for members Other
Year ended 31 March 2024
Total
Support services..
Website
59
118
58
235
Bank and related charges
Other
462
462
924
112
113
112
112
449
Governance:
Legal
Professional and consultancy
Accounting
1.440
285
1,440
1,140
315
285
285
285
79
79
79
78
997
2.497
476
533
4,503
q2 Independent Examiner's remuneration
Unrestricted
funds
2025
Unrostrlcted
funds
2024
The fees below are stated net of VAT. as VAT is not part of
the Examiner's remuneration..
Independent examination of the financial statements
Other assurance services relating to granls
Other services
950
950
450
130
1,530
950
27

The Historical Diving Society (Registered Number." 09204944)
Notes to the financial statements- continued
for the year ended 31 March 2025
13 Trustees, Temuneration, benefits. and out-of-pocket expenses
The trustees have not received any remuneration or other benefits in either the year or the
preceding year. The only key management personnel are the trustees.
14
Related party transacllons
The Charity did not enter into any disclosable transactions with related parties during the
year (2024.. same).
15 Tangible fixed assets
Leasehold
Assets In
Freehold
property
Plant &
course of
property improvements equlpment construction
Total
Cost
At 1 April 2024
Addilions
4,631
2.182
52,827
34,435
79,532
86,345
247,250
194,423
45,097
Transfers
(79,532)
Disposals
At 31 March 2025
4,631
239,520
89,444
333, 595
Depreclatlon
At 1 April 2024
Charge for the
year
Disposals
At 31 March 2025
926
873
1,799
18,333
463
8,708
9,162
1,389
8,708
10.035
20,132
Net book value
Al 31 March 2025
3.242
3.705
230,812
79,409
1,309
313,463
84,546
At 31 March 2024
79,532
The Charity has given a legal charge on the Diving Museum leasehold property to the
Trustees of the National Heritage Memorial Fund (NHMF) to secure all monies, obligations
and liabilities (whether present or future. actual or contingent) owing by the Charity to the
NHMF from lime to time including, without limitation, under the grant from the National Lollery
Heritage Fund for the development of the Diving Museum and related activities. The carrying
value of the assets charged is £309.528 (2024- £nil).
28

The Historical Diving Society {Registered Number= 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
16 Heritage fixed assets
Cost
At 1 April 2024 and 31 March 2025
Depreciation
Al 1 April 2024 and 31 March 2025
Net book value
At 1 April 2024 and 31 March 2025
The Charily owns a wKle collection of diving-related arlefacts. Information is given in the
Trustees, Report under "Herilage assets" as to:
the nalure and scale of heritage assets held,
the policy for the acquisition, preservation, management, and disposal of heritage
assets,
a description of Ihe records maintained of the collection of heritage assets, and
information on the extent to which access to the assets is permitted.
The Charily did not hold any heritage assets until 31 March 2022. On that date, the Charity
was donated the collection of artefacls previously held by the former unincorporated charity
"The Historical Diving Society". Since Ihen, further artefacts have been donated. In
accordance with the accounting policy in note 3 above, those donated heritage asseis are
excluded from the balance sheet as permitted by the Charities SORP (FRS 102). There has
not been any purchase of heritage assets in the year.
Accordingly, except for the proceeds of disposal of heritage assets shown in note 7 above,
there is nothing to be disclosed as to the summary of transactions relating to heritage assets
for the financial year and for each of the previous four financial years.
17 Stock
2025
2024
Merchandise
4.842
1,177
6,019
4,605
Books
2,423
7,028
29

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
18 Debtors
Unrestricted Restrfficted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Trade debtors
18,315
37.966
56,281
18,315
38,321
56,636
250
Prepayments and accrued income
355
385
355
635
None of the 2024 debtors related to restricted funds.
19 Credltors: amounts falllng due withln one year
Unrestricted Restrlcted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Trade creditors
1.657
1,140
2,797
12,004
13,661
2,574
19,216 20,356 162,846
31,220 34,017 165,420
Accruals
£552 of the 2024 trade creditors, and £160.860 of the 2024 accruals, related to restricted
funds.
30

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
20
statement of the Charity's funds
Year ended 31 March 2025
At31
March
2025
At 1 Aprll
2024
Name of fund
Income
Expendlture Transfers
Restrlcted Income
funds
Arts Council - MEND
Grant
17,416
46,739
9,791
(73,946)
Arts Council - CIP grant
Historic England
National Lottery Heritage
Fund
Gosport Borough Counci
Hampshire County
Council
South East Museums
Development Programme
Media equipment
Going Green
Skills builder
Museum Development
Soulh West- On Displayl
Arts Council - Unlocking
Collections
The Royal Society -
Places of science
Library
Other restricted
donations
Collection sales
Total Restricted
(68,201)
57.455
(7.265)
220.499
143,138
61,430
21,888 (174,186)
(237,753)
22,160 (15,000)
(13,768)
2,439
42,836
25,000
15,500
25,000
(15.500)
323
3,740
354
323
1,990
84
(1,750)
(270)
(3,360)
3.000
360
25.000
{27,163)
(2,163)
5,500
(3,486)
(14)
2.000
5,000
5,000
19,577
19.577
204
9,026
702
566,085
906
80,553
(255.871) (238.687)
Unrestricted funds
Designated funds
Financial stability
Museum
improvements
Total Deslgnated
General fund
Total unrestrlcted
22,000
27,253
22,000
(27,253)
49,253
204.585
253,838
(27,253)
265,940
238,687
22,000
430,234
452,234
29.422
29,422
(69.713)
(69,713)
Total funds of the
Charity
262.864
595,507
(325,584)
532,787
31

The Historical Diving Society (Registered Number., 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
20 Statement of the Charlty's funds (continuod)
Year ended 31 March 2024
At31
March
2024
At 1 April
2023
Name of fund
Income Expenditure Transfers
Restricted Income
funds
IMCA
Arts Council- MEND
Grant
Arts Council- CIP grant
Historic England
National Lottery Heritage
Fund
Gosport Borough Council
South East Museums
Development
Programme
Media equipment
Collections Care
Going Green
Skills builder
Herilage Compass
Library
Collection sales
Total Restrlcted
25,000
38,520
(25,000)
(22,793)
1.689
17,416
(21,863) (46,338) (68,201)
(323.070)
64,615
57,455
(87.047)
24,228
{7,265)
315,910
29,125
26,429
15,500
(15.500)
323
323
997
3,740
1,276
4,900
5.000
32
376,480
(997)
3,740
354
{922)
(4,900)
5,000
204
9,026
1.249
91,521
{1,077)
(437,190) (21,785)
Unrestrlcted funds
Designated funds
Financial stability
Museum
improvements
Total Doslgnated
General fund
Total unrestricted
22,000
27,253
22,000
27,253
49,253
49,253
{43,541) (27,468) 204,585
(43,541)
21,785
253,838
224,986
224,986
50.608
50.608
Total funds of the
Charlty
316,507
427,088
(480.731)
262,864
32

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
20 Statement of the Charity's funds {contlnued)
Transfers between restricted and unrestrlcted funds
Details of the reasons for the material Iransfers between the funds. are as follows..
Year ended 31 March 2025..
Transfers from Arts Council- MEND granl, and from Arts Council - CIP grant, to Ihe
General fund= in relation to additions lo tangible fixed assets, and to take account of the
General Fund's share of the expenditure incurred on the projects.
Transfers to Historic England from Hampshire County Council and the Designated fund
Museum improvements.. to assist with the funding of the Charity's share of the cost of
the Diving Museum building repairs.
Transfer from Historic England to the General Fund.. to reffect expected further external
funding of the Charity's share of the cost of the Diving Museum building repairs.
Year ended 31 March 2024:
Transfers from the General fund to set up the Designated fund - Financial stability, and
the Designaied fund - Museum improvements.
Transfers from the following funds to help fund the Charity's share of the cosl of the
Arts Council projects, the Historic England project, and the cost of the development of
the application for a delivery grant lo the Nalional Lottery Heritage Fund..
IMCA;
Gospoil Borough Council.,
Designated fund- Museum improvements.
Transfer from Arts Council- MEND grant and Arts Council- CIP grant in relation to
additions lo tangible fixed assets.
33

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
20 Statement of the Charity's funds (continued)
The purposes for which funds are held
The material individual Restricted funds, which are income funds, are (or were) held for the
following purposes:
Arts Council - MEND
Grant-.
Grant to fund part of the cost of solving an issue with the internal
environment of the Diving Museum.
Grant to fund part of the costs relating to..
repairs to the fabric of the Diving Museum building.,
work to open up more of Ihe building to the public.
accessibility improvements lo the building.
Grant to help fund part of the cost of repairs to the Diving Museum
building.
Grant to fund paTI of the cost of developing plans for improvements
lo the internal layout and displays in, and the future development
of, the Diving Museum, followed by a grant towards the cost of
delivering those plans.
Grant to help fund part of the cost of repairs to the Diving
Museum building.
Giant to help fund part of the cost of Ihe Museum development.
Granl to help fund parl of the cost of repairs to the Diving Museum
building.
Grant to help fund certain specific costs within the Museum
development project.
Donations received from the Charily's members and supporters to
assist with the funding of the Charity's share of the cost of the
Museum development.
Arts Council - CIP
Grant-
Historic England..
National Lottery
Heritage Fund:
Gosport Borough
Council..
Hampshire County
Council..
Arts Council -
Unlocking Collections..
Other restricted
donations..
The Unrestiicted funds are (or were) held for the following purposes:
Designated - Financial To enable the Charity (if necessary) to meet ils charitable
stability:
objectives for the foreseeable future.
Designated - Museum
To set aside furKls for the Museum repair and refurbishment
improvements..
project, which funds had been received by the Charity's
predecessor charity for that purpose. This fund has been utili5ed in
the year.
Funds to be spent or applied at the discretion of the trustees to
further any of the charity's purposes. This includes being used to
supplement expenditure made from reslricted funds, for example,
where a restricted grant provides for only part of the funding
needed for a specific project.
General..
Non-adjusting event after the end of the flnanclal year
During the financial year. the Charity applied to The Pilgrim Trust for a grant to support the
restoration of the Museum building. A grant of £15,000 was received after the year end.
34

The Historical Diving Society (Registered Number: 09204944)
Notes to the financial statements - continued
for the year ended 31 March 2025
21
Analysls of net assets between funds
At 31 March 2025
Unrestricted Restricted
designated
income
funds
funds
Unrestricted
general fund
Total
funds
Tangible fixed assets
Current assets
313,463
119,568
{2,797)
313,463
111,773
253,341
(31,220) (34,017)
22,000
Creditors: Amounts falling due
within one year
430.234
22,000
80,553 532,787
At 31 March 2024
Unrestrlcted Restricted
deslgnated
income
funds
funds
Unrestrlcted
general fund
Total
funds
Tangible fixed assets
Current assets
84,546
123,566
(3,527)
84,546
170,919 343,738
(161.893) (165,420)
49,253
Creditors.. Amounts falling due
within one year
204,585
49.253
9,026 262,864
22 Commitments
The Charity has the following financial commitmenls that are not provided for in the financial
statements..
Repairs and improvements to the Diving Museum building the financial commitment
is expected to be of the order of £1.630 (2024- £55,000), taking into account the grants
funding the repairs and improvements. The financial commitment is expected lo be
payable over the period to December 2025.
Development of the Museum's exhibition and related activities - this project has two
elements for which grant funding is being received. Taking into account the principal
grant funder's share that is still to be received. the financial commitment is of the order
of £237,000 (2024.. £229.517). £179,000 of the commitment is expecled to be payable
over the period to December 2025. The trustees expect that some of this will be
funded by further grants andlor donations. The remainder is expected to be payable
over the period to December 2027, and is expected to be funded from the Charity's
existing resources and the Museum's income.
35