COMPANY NUMBER9263126
THK GIL)RIANA TRiJST
A COMPANY LIMIIFI) BY GUARANTEE
REPORT AND FINANCIAL STATEMENrs
H APRIU 2023

THE GI￿RIANA TRUST
REPORT AND FINANCIAL sfATEMENrs
5TH APRIL 2023
CONTENTS
P*8e
Company Infonnation
Report of the Truslees
Independent Examiner's Report
S￿eMeM of Financial A￿]vilieS
Summary Income and Ex￿ltUre AccouTrt
Ba]8nce Sh
Notes to the Financial Stat¢ments
10-14

THE GLORIANA TRUST
COMPANY INFORMATION
DIRECTORS AI¥D TRUSTEES
The Rt. Hon. The Lord Sterling of Plaistow GCVO, CBE (Chairnian)
Eric R¢ynolds
Phillip Roberts
REGisfERED OFFICE
136 Kensington Church Str
London,
W8 4BH.
COMPANY NUMBER
9263126
BANKERS
C. Hoare & Co..
37 Fle￿ Stree¢
London,
EC4P 4DQ.
INDEPENDENT EXAMINER
Simon Wilks.
Haysmaeinlyre LLP.
10 Queen Street Place.
London.
EC4R IAG.
REGISTERED CHARITY NUMBER
1160986

THE GLORIANA TRUST
REPORT OF THE TRusfEES
The directors of the charitable company (Ihe charity-) are its TnLStees for the purpos¢ of ch￿lty law and
throughout this rew>rt are collectively referred to &8 its Trusteu. The Trustees preseni th¢ir report together
with the financial ststernents for the year ended 5th April. 2023. The financial sta*ments comply with the
Charities 2011, Ihe Stsfyment of Recommended Practice for Charities (SORP 2015) (Second Editio
effective 1st January. 2019) and the Financial Re￿rtIngSthnd￿ applicabl¢ inthe UK and Republic of Ireland
(FRS 102).
LEGAL AND ADMINISTRATION
The Gloriana Tn￿ is a company limitrAI by guarantee and a re8iStered charity governed by its memorandum
and articles of &850ciati(NL The charity was regis¢ereJJ with the Charity Commission on 19th Marcm 2015
under number 1160986 and was i￿ory￿)rated on 14th (kiober. 2014 under n￿Dber 9263126.
STRUCTURE, GOVERNANCE AND MANAGEMENr
The Trustees are 8overned by the company's memorandum and articles of as￿l81]0n which states:
there shall be a minimum of three Tn￿ and no maximum number,
Tn￿teeS ar¢ ￿pOinted for an initial three yw temi of offirx and may be ]rap￿Inted for two further
tenns of three years an& exceptionally. for one further temi of three years.
All of the Tn￿e¢S have an active involvement in decisi0Th8 rcgardTng the day-l¢Hlay oFwation$ of the charity
And are ¢onsider¢d to be Ihe k¢y ma￿ement of the charity.
PIUNCIPAL ORJECllVES AND ACTivrriES
The objects of the charity are:
the preseThation, restoratio￿ t￿ha￿en[ p￿ectiOn. mainlenance. repair, transp)rtation (by water, land
or air) and berthin8 (afloat or ashore) of Ihe Queen's Row Barge Glnriapkr.
the prrrfnthl(m of publ1¢ &¢e5s io the (￿'S Row Barg¢ Glorl(wa. and the proM￿lOn of public
knowl¢dge, appreciati￿ and understanding of its desiw constru¢lion. mechanic5 ￿ well as any
scientifio technical and craft featurts associated with its cOnstn￿￿ maintenance or opxrntion.
the education of the public by the promolioT] of public knowl¢dge apprffiation and und¢rstandin8 of the
historic and cultural &spects of the Queen's Row Barge Glorlana. the history of the River Thames and
British maritime history. pageantry and heritage. as well as by the provision of training to the public in
traditional boat building skills. fixed se* rowing skills andlor in such other skills or subjects as the
Trustees shall from time to tlme see fiL and
such other Charitable Purpow &S￿lated with th¢ history of the River Thames, British maritime history,
the Queen's Row Barge Glnriona andlor other rowing craft or ves5ets worthy of preservation as ihe
Trustees shall from time to time see fiL
The Trusttts Confinn when reviewing the TTuts' reiW aim& obiertives and activities that they have
cornpil¢d with the duty in Seciion 17 of the 2011 Charities Act to have du¢ regard to guidance published by
the Charity Commi&sion incl￿j1ng public i￿efft.

THE GLORIANA TRusr
REPORT OF THE TRusfEES
FINANCIAL REVIEW
The charity achieved a sutplus for the year of £100.535 (2022 - £173.613). The ch8rity invested a further
amount tota]lin8 £I￿1.0(M) (2022- £180,(KJO) into the V￿￿e of its wholly-owned subsidiary, Gloriana Servic¢s
Limiled. The Tnjsiees anticipate that in th¢ future the charity will ￿ in a w)silion to fund all of its activities
from donations including charitable donations from its Wholly￿￿ned trading subsidiary and use any excess
incoming resources to fund furthff projttt&
RESERVES POLICY
The Charity's reseple policy is lo &cumulate u￿￿triCted funds sutTi¢ient to 5UStain all th¢ activities of the
¢harity for at le￿ a year due to the long terni ¢ommithicni required by the Charity's activity and the ev¢r
present uncertainty of ￿ntInUed Sponsorship.
Free reserves retained for use by the charity are deemed to be those that are readily rea]isabl< oiher than funds
whi¢h are restri¢led or designated for particular purpos￿. and are represented by cssh at bank.
The charity's reserves at the yw end amounted to £2,558.344 (2022 - £2,457.809)J representing retained
unrestricted reserves.
IUSK POLICY
The Trustees are responsible for the manag¢meftt of the risks faced by the charity. Risks are identified and
assessed and controls are establi$hed throughoui the year. A fornial review of the charity's risk m8nA8ement
process is undertAken on an annual basi&
The key controls used by th¢ charity include fonnal agendas minutes for all Trustee meeting5•
cornprehensive plannin& budgeting accounting and ele&r authorisa¢ion 8nd approval levels of all
expenditure. Controls over operation of the charity's bank account and periodic reviews of th¢ adequacy of
insurance of ihe charity's fixed assets are considered to be adequately mana8ed.
Through the risk mryement proce￿ established. the Tn￿ are satisfied that the major risks identified
have been adequately mlil8aied where necessary. It is r￿08￿lSed that systems can only provide reasonable
but not absolute &ssurance that major risks have ixen adequately rnanag￿. The major risks to which the
charity is exposed as identified by the Tn￿¢t5 have l)¢en revi¢weAI and systems have been estsblished to
mitigate those risks.
PLANS FOR THE FVTURE
The Trusteu were deeply saddenejj by the death of HM Queen Eli7attth11 on 8th September. 2022. GloriaAa
will remain 'The Queen's Rowbarge, and its &8s(Kiation with HM Queen Elizabeth 11. It is expected that
Gloriana will ￿ntinue I￿r current ml¢s and be available the use of HM King Charlc5 111 and the Roya]
Household.
The annual future events progrdmme is b&sed on a Combination of ceremonial. publi¢ and priva* outin￿.
Since her launch Gloriana h&s developed a key role in river based ceremoftial events throughout the year.
These place GlOriaP￿ at the centre of att¢ntion on the river and are considered to be crili¢al to her ongoing
promotion and place in the public perception QueeJLS Rowbarge".

THE GLORIANA TRU
REPORT OF THE TRu￿EEs
PLANS FOR THE FUTURE {conlinued)
The private outings are g¢n¢Tally arrangell to Suii individual requirements 8nd fit in round the public
commitinents. To dafr W hav¢ iKen limited to ¢harities with a connection to the Royal Household.
A full programme of future events and a detailal history of the Gloritvw together with news and opportunities
to support the Glork7na is shown on the official website wi¥iv.gloriarnqrb.or&uk.
GOING CONCERN
At 5th April, 2023. the Charity has net current liabilities of £75.97]. Within curreni liabilities 15 an amount
of £78,0(K) due to 8 Truste¢. The accounts have been prepared on a going eoncern basis, which the Trustees
believe lo be appropriate, as they have rec¢ived wrillen support from the relevant Trustee that the balance will
noi be recalled within 12 months of the approval of the &COLmts.
FUNDRAISINC
The charity does nth raise publicly. but is neverthel45s mindful of the CTrJe issued by the Fundraising
Regulator and will implement the Code should the charity decide to raise funds publicly in the future. There
were no complaints rt¢eived with regards lo fund5 raised by the charity in the year.
DIREaORS AND TRUSTEES
The Trustees, who served during the year were Ls follows:.
The Rt. Hon. The Lord Sterlin8 of Plaistow GCVO, CBE (Chaiman)
Eric Reynolds
Phillip Roberts
TRUSTEES. RESPONSIBiufiES IN RELATION TO THE FINANCIAL STATEMENrs
Company law requiru the Trumees to prepare financi￿ statements that give 8 true and fair view of the state
of affair5 of the charity at the end of the financial period and of its financial position at the end of that period.
In preparing those firfrancial statements the T￿￿te¢S are rwuired to:
select suitable accounting policies and apply them COTL8islently'
make judgements and estimates that are r¢ason8ble and prudent
observe the methods and principles in the Charities SORP.
stale whether applicable UK wxounting stsndards and statement of Tecommended practice have been
followed, 5ubj¢¢t to any materia] departures disclowj 8nd explained in the financi￿ stalements,. and
prepare ihe financial statements on a going concern b&qis Unl￿ it is inappropriat¢ to presume that the
charitable company will continue in operation.
The Trustees are responsible for maintaining proper accounting records which disc105e with reasonable
accuracy at any time the financial position of the ctwity and enables tkn to ensure that the finan¢ia]
slatem¢nts comply with the Companies Act and Charities Act 2011. The Trustees are also responsible for
safeguarding the &5sets of the charity and henc¢ ￿ taking T￿￿nable steps for the prevention and detection
of fraud and oiher irregulariti¢s.

THE GLORJANA TRUST
REPORT OF THE TRusfEES
TRUSTEES. RESPONSIBILITIES IN REL4TION TO THE FINANCIAL STATEMENrs
{continued)
In so far as the Tntstccs arc aware:
there is no relevant infomiation of which th¢ charitable com&￿Y'S indepeThlent examiner is unaware. and
the Trustees have taken all ￿ep5 that thry ought lo have taken to make themselves aware of any relevant
inforn1￿1on and to ¢stabl&sh that the iThl¢peThlent examiner is aware of that inforniation.
APPROVAL
This report wa5 approved ty the Board of dire¢tors and Tnths on
behalf.
January, 2024 and signed on their
The RL Hon. The Li)rd Ster
Chairnwj ofthe Tn￿$
£ ofPlatstow CCVO, CBE

THE GLORIANA TRusr
INDEPEI¥DENT EXAMINER'S REPORT TO THE MEMBERS OF
THE GInRIANA TRUST
I reFK)rt to the Charity Trustees on my examination of ihe accounts ofthe company for the year ended 5th April,
2023.
ResponslbllitleJ basls of re￿rt
As the charity's Tntsttts of the c(#npany (and also its directors for the PUryKW of company law) you 8r¢
responsible for the preparation of the ￿oUnts in ￿rdance with the requirements of th¢ Companies Act
2006 {'Ihe 2006 Act.).
Havin8 satisfied myself that the accounts of the company are not required to be auditsd under Part 16 of the
2006 Act and are eligible for independent examinatioo I rep)rt in re$￿t of my examination of your charity's
accounts as wried out under s￿lI0n 145 of the Charities Act 2011 ('Ihe 2011 Aci.). In carrying out my
examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the
2011 Act.
fDd¢pendent eumlller'j 8t•tem¢nt
I have compleied my examination. I confirni that no mattus ￿ve eome to my attention in cOnn￿tiOn with the
examination giving me caw%¢ lo believe..
accounting records ￿re not kept in r&8pect of the company as required by section 386 of the 2006 Act;
or
the accounts do n¢X accord with those reco￿. or
the accounts do not Comply with the accounting requirements of section 396 of the 2006 Aet 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 acwrd8nce with the methods and principles of the Ststement of
Recommended F¥actiee for %eounting and reportin8 by charities applicable to charities preparing th¢ir
a¢counls in accordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102).
I have no wncerns and have come across no other matters in connection with th¢ cxamination to which
attenuon sho
n this report in order to enable a proper unde￿dIngOf the accounts io be Teached.
Slmon Wllkn FCA
Haysmacintyre LLP.
Chartered A¢countanl&
10 Queen Sireet Place,
London,
EC4R IAG.
January. 2024

THE GLoR￿NA TRUST
STATEMEiYf OF FINANCIAL A￿[VITIEs
FOR THK YEAR EIYDED 5TH APRIL 2023
2023
2022
Income from:
tk*n2tions
Gift aid
104,050
146,0(N)
30,000
Tothl lllcome
104.050
176,O¢XI
Expendlture on".
Charithble activities
(3,515)
(2,387)
NET INCOME
100.535
173,613
RECONCIUATION OF FUNDS
Fund balance 4¢ 5th AprlL 2022
2,457,809
2,284.196
Fund b•lanLY at 5th AprlL 2023
2.558,344
2,457,809
The stslement of financial e£tivilies includes all gains aTMI losses rccognised in the year.
All income and expenditure derive from cMtinuin8 &¢tivities.
The company h&% no recognised gains ￿ losses other than the surplus for the year.
The fund balance At 5th April. 2023 and 2022 consisted of unrutricted fimd
The accompanying not&8 fonn an Inte￿al part Oft￿ financial statements.

THE GLORIANA TRUST
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5TH APRI4 211
2023
2022
Gross Incomt for the ye*r
Unrestrieted income
Expendilure for the year
104.050
(3,515)
176.000
(2.387)
Net Ineome bting $urplll$ for the year
100.535
173,613
The accompanying notrs fonn an integral W of these financial statements.

COMPANY NUMBER 9263126
THE GLORIANA TRUST
BALANCE SHEET- APRIfj 2023
Note
2023
2022
FIXED ASSETS
2.634.315
2.534J15
CURRENT ASSETS
Debtors
Cash * bank and in hand
777
3.898
2.737
258
4.675
2.995
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR
(80.646)
(79501)
NET CURRENT LIABILITIES
(75.971)
{76.506)
NET A&8ETS
1558.344
2,457.809
FUND BALANCE
Unrestricted funds
2J58.344
2.457,809
TOTAL CHARITY FUNDS
1558JM
2,457.809
For the financial year in question th¢ ¢ompany was fmtitled to exemption under section 477 of the Companies A
2006 relating to sm411 companies. No m¢mbus have required the ¢omp8ny to obtain An audit of its a¢wunts for
the year in question in accordance with section 476 of the Compani¢s Act 2(K)6.
The Trustees acknowl* theirr¢sponsibilities ensurin8thai the company ke¢p3accountin8 records which comply
wilh section 386 of the Ath and for preparing financial statements which 8iv¢ a true and fair view of the state of
affairs of the company 8$ at 5th April, 2023 and of the result for the year then ended in accordance with the
requirements of s¢¢tion 394 and 395 of theAct and whi¢h otherwisecomply with th¢requirements ofthe Companies
A¢t 21)06 relating lo the fjnancial 3fatements so for &$ 8pplithle to the company.
These ¥counts have been wep8red in arKordance with the provisions applicabk to companies subject ¢0 th¢ small
companies, re8ime.
The fin*Trehl sl*tsmeMts w¢re approved *nd authorknl for by the Board of Trnstees 4nd were Signed
btjow om ils behalf by The RL Hom. Tb¢ Lord Sterkn% of Pl•iytow GCVO, CBE
The RL HOL The Lord St¢T
Chairman of the TrU￿eeS
g Of Pla￿1￿￿ GCVO. CBE
January. 2024
Th¢ accomp8nyin8 note5 f(m an integral tArt of these financi￿ ststan¢nts.

io.
THE GLORtANA TRU
NOTES TO THE FINANCIAL STATEMENTS
5TH APRtU 2023
ACCOu￿1NG POLICIES
B*sts of prep*r*tlon of#ccounts
The financiai statements have been prepar￿1 in ￿rdance with the Ststement of Recommended Practice for
Charities (SORP 2015) (SC￿nd Edillo￿ effective 1st January. 2019), the Financial Repx)rting Standard
plicable in the UK and Republic of Ireland (FRS 1172) and the Comp8nies Act 2006.
The organisation meets the definilion of a public benefrt entity under FRS 102. Assets And liabilities are
initially recognised at histLYic41 cost or trnnsaction value unless otherwise Swed in the relevant accounting
policy notes.
In Addition ihese financial statcments have been prepored under the historical ¢ost conversion.
The ch￿lty, together with its subsidiary. (details of which are set out below and in note 5) foTm a small group
and are exempt from preparing Gonsolidated accounts under Ihe relevant provisions of the Companies Aci
2006 and the Charities SORP.
Goln8 coneern
In wessing the ¢h8rity's ability to continue ls a going Con￿ the Trustees have considered Ihe liquidity
position al￿ reviewed anticIp￿ed funding commitments for the foresttable futu￿. The Tn￿leeS believe that
the clwiiy is adequately plaeed to manage its business risks suceessthlly and meel its liabilities ag they fall
For this re&10￿ the Tnth have contin￿d io &lopt the goin8 concern b&sis in preparing the finu￿181
statements.
Ineome
Income is re¢o8nised in the period in which the charity has entitlement to the Inwme, it is probable that it will
be r￿e1ved and when the Amount be measured with reasonable certainty.
Voluntary Incom¢
The charity receives donations from a number of oryanisations and other sources.
donations is included in income when it is receivabl¢.
Income from these
Illter¢st
Bank interest receivable is credited to the Statement of Financiat Activities when it is received by the charity.

THE GLORIANA TRusr
NOTES TO THE FINANCIAL STATKMENrs
5TH AFR￿ 2023
AccoiwfiNC POLICIES (Contin￿1)
Expemdltsre
Expenditure is included in the st&tement of firwlcial activities when irKurred and includes VAT.
Dlrect eh*ritsble upellditsre
Direct charitable expendilure comprises those r￿sts dircctly allributable to fillthering the charitable work to
the charity. Direth charitable expenditu￿ is r¢wis¢d in thc year to which it is attributable.
GOVer￿anCe eo8ts
Governance costs include costs which are diredly allributable to tk day to day running of the charity and
pr￿edureS [￿ssary for compliance with Swutory requirem¢nts.
Tanglble Ilxed AM¢ts
Tangible fixed &ssets represent the htstOTi¢ Cost of H.M. The Queen's Row Barge Glori1v￿. In view of its
status a5 a national herith8e asseL no dePT￿l.0n h&$ iwi provided thereon.
Investments
Glorlana Services Limited, a wholly-owned subsidiary company of the charity, operate$ the daY-l(￿d&Y
activitie5 of the Gloriano. pays Ihe running costs and receives contributions lo 0￿MIng expenses.
envisaged that in future periods sutTici¢nl income will be accumulated each year to cover running costs and lo
pay its profits to the Ch￿lty by way of a charilable donation.
Funds
Unrestricted funds comprise tlk)se funds which the Trustees are free to use in e￿OrdanCe with the charity's
objects.
Esthnates And Judgements
Esiimates and judgements are continually evaluated and are based on historica] experience and other factors.
including exfftiow of fulure events that are believed to be re&sonable under th¢ circumstances. Although
these estim*es are based on the Trustees, best ktknvledge of the amounL events or actions, actual results
ultimately differ from tlw estimates. The T￿￿teeS do not corL8ider there to k any material estimafrs and
judgements.
FillaD¢l*l ltt$trnmtnts
The ¢harity only has financia] assets a￿] filla￿la1 liabilities of a kind that qualify as b&sic financi81
instruments.
Basic financial Instrumen￿ including trade and other debtors and ¢reditors are initially
recognised at transaction value and suE6equently M￿sUred at their Settlement value.

12.
GLORIANA TRU
NOTES TO THE FINANCIAL sfATEMENTS
srH APIUU 2023
ACCoU￿1NG POLICIES {cOntin￿d)
Debtors
Trade and other debtors are reco8llTsed at the settlement amount due after any trade discount offcred.
Prepayments are vaIued at the amount prepaid net of any trade di$￿Unts due.
Cash •t bank #nd ID h*md
Cash ai bank and cash in hand includts and short temi highly liquid investM￿ts with a short maturity of
three months or less from the d&e of acquisition or openin8 of the deFM)Sit or similar account.
Credltors and provi¥ions
cr￿lIOrS and provisions are recognised where the charity h&% a present Oblig￿lon resulting from a past event
thai will probably resuli in the transfer of funds to a third party and th¢ amount due 10 Settle the obligallon can
be measured or estimated reliably. Creditors aTMI provisions are nornlally recognised al their settlement
amount after allowin8 for any Irade dt*ounts du¢
EXPENDITURE
2023
2022
Govern•nee eosts
Independent examiner's fees
Account8ft¢y charges
Bank charges and intcrnet PAymeni wsts
Sundry expenses
.560
960
361
125
1.500
455
13
1,968
Dlrect eharitsble e￿ndIthre- iupport c(rfts
Website and publicity
509
419
Total exp¢nditure
3.515
2.387
TRUSTEES. REMUNERATION
None of the received any remun¢ration or reimbursement of ¢xpenditure in respect of their serYic¢s
during the year (2022- nil). Tra￿8￿ctionS reknting to loans from Trustecs are included at note

13.
THE GLORIANA TRusr
NOTES TO THE FINANCIAL STATEMEI¥TS
5TH APR￿ 2023
EMPLOYEES
The charily had no employees (2022- none).
FIXED ASSETS
2023
2022
Tanglble *Jsets
At 5th April. 2023 and 2022
1,704.215
1,704,215
InveJtmellts
The charity owns the foll¢)win8 investhients:
100 ordinary shares of £1 each in Gloriana Services
Limited, its wh0lly-0wn￿ trading subsidiary company
which is incorporated in the Uniied Kingdom
Additionai investmeni made in ihe year
830,1 (J)
100.000
650,100
180,000
930.1(X)
830,100
Totsl ￿ed *ssets
1634J15
2,534,315
6. DEFfoRS
2023
2022
Amount due from wholty-owned trading subsidiary company
777
2,737
7. CREDITORS: AMOUNTS FALLING DUE wrrHtN ONE YEAR
2023
2022
A¢cruals
Other credito
2.645
78,001
1.500
78.001
80,646
79.501

14.
THE GLORIANA TRUST
NOTES TO THE FINANCIAL STATEMENTS
5TH APRI4 2023
RELATED PARTIES
Included within other creditors (not¢ 7) is an amount owing to a Tnth of £78.000 (2022 - £78.0(X)). The
amount is unsecured repayable on demand and interesi free.
UNRESThICTED FUNDS
2023
2022
At 5th April, 2022
N¢t income for the y¢ar
2,457.809
100.535
2,284.196
173.613
At 5th April. 2023
2,558,344
2.457,809
10. COMPANY STATUS
The charity is a private company limit￿ by gua1￿1¢¢ and C￿nSeqUentIY dix5 not have share capital. Each
member is liabl¢ to contrtbule an amounl t)ot exceeding £1 towards the &8sets of the charity in th¢ event of
liquidation.
I I. ANALYSIS OF I¥ET ASSETS BETWEEN FUNDS
2023
2022
Fixed assas
Current ￿setS
Current liabiliti¢s
2.634,315
4.675
(80,646)
2,534.315
2,995
(79,501)
1558,344
2,457.809