2023-12-31-accounts

THE NAN YBLA KErr TR TRU TEE ANNUAL REP ENDED 1DE EMBER 2 RTANDA NT YEAR Resistered Charity No 1181202

THE NANCY BLACKErr TRUST CIO PATRON Dame Ellen MacArthur PRESIDENT Peter Willis VICE PRESIDENTS Bryan Bonser, David Collison. Doug Faunt, Lorna Hammett, Christina Hardyment, Bob Hull, Claudia Myatt, Diana Sparkes, Roger Sturge, Bill Wallac&King, Jenny Wedick John Benford, Sheila Campbell and Michael Rines died during 2023. TRUSTEES Peter Willis (President and Chair) Neil Brooks Sue Coales Sue Heron (resigned 15 July 2023) Simon Jackson Irwin Jacobson lan McGlynn Stuart Morris {resigned 17 June 2023) Robin Sadler John Smith Roger Sturge Keith White {Treasurer) The Nancy Blackett Trust is a membership organisation and a charilable incorporaled organisalion {CIO) regulated by the Charities Commission. Trustees are nominated by the Board and elected by the membership at Ihe AGM. The Trust maintains a close relationship with the Arthur Ransome Society, a non-charitable association wilh similar objects. Registered Office 42 The Hyde, Ware, Herts SG12 OER Registered Charity No 1181202 Independent Examiner M J Bushell Audit LLP 8 High Street Brentwood Essex CM14 4AB Bankers CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ

TRUSTEES REPORT Year ended 31 December 2023 The Trustees present their report for the year ended 31 December 2023. The Nancy Blackett Trust is a Charitable Incorporated Organisation {CIO) regulated by the Charities Commission {number 11812021. The objectives of the Trust are to advance the education and understanding of the public in the works of Arthur Ransome and in developing sailing and allied facilities, particularly but not exclusively for young people. The Trustees continue to have due regard to their charitable purposes for public benefrt. The principal activity of the Twsl is to secure the mainlenance and preservation of the historic sailing vessel Nancy Blackett for public benefit and use h8r for a mixed programme of sailing and display events. Awards are made (via the Young Sailors Fund) to assist young people to participate in sailing experiences. Grants are made mainly to young people up to the age of 24 (inclusive), to contribute part of the cost of sailing activities related particularfy to the central interests of the Trust, the works of Arthur Ransome and the use of the dassic wooden sailing boals, with a preference for activities on the East Anglian coast. Where appropriate, the Trust may approach organisations, including schools, to explore possible funding. The Nancy Blackett Trust is a membership body, where normally most funds are contributed by members. Board and committee membership is by volunleers, as is management of all the administration of the Trust and skippering the vessel. Volunteers also help with the maintenance and manning the vessel and display stands at events. There must be a minimum of 3 and a maximum of 12 Trustees and onevthird retire each year and may be r&appointed. New Trustees receive documentation relevant to their responsibilities, induding the Constitution, Annual report and accounts and links to Charity Commission advice. The administration of the Trust is overseen by a Board comprising all Trustees and as necessary other members who are not Trustees but fulfill particular roles. The day to day management of boat mainlenance and sailing activities is undertaken by a Sailing sub- committee. Other committees recommend action to the Board on specific areas eg Finan￿. 2023 proved in some ways to be a challenging year, but in others one of innovation and development in our key aim of getting young people involved and interested in sailing and the marine environment in general.

The decision of our Chaimian to resign (in order to give enough attention to his business in the complex financial dimate) meant a need to rally round and reappoint our founder chair Peter Willis and former secretary Roger Sturge to these roles. Sue Coales also took up the role of Vi￿-ChaIr,alongslde her youth V￿rk (see below). The sailing season began April with training and familiarisation days for crews. A cruise to the Solent and South Coast took six weeks, from mid-June to the end of July. While it gave an opportunity for members in that area to see and sail Nancy, the boat needed repairs to the drive mechanism and the high cost of overnight mooring at marinas meant that the cruise ran at a loss. Later in the season we arranged to take part in the Classic Boat Festival at St Katharine's Dock London. where she was open to visitors. a valuable opportunity to meet the public and talk abut the work of the Trust. The main innovation in our programme this year has been the introduction ofActivity Days for primary schools and youlh groups such as Scouts and Guides, and including a library- based group for disadvantaged gids in Ipswich. The activities, based alongside the River Orwell, include an introduction to seafaring skills such as knot-tying and signalling, a nature walk along the river. storytelling. shanty singing and an exploration of Nancy Blackett herself. We funded transport in some cases lo assist low income families and we are grateful for the assistance of the Pin Mill Sailing Club in providing a base and support for activity days. Over 150 children took part. and feedback from group18ad8rs was extremely positive. In addition we made a substantial donation towards the restoration of IMO other Ransome- related boats, the Swallow and Amazon from the 1974 film, which are being restored for the Arthur Ransome Society by the Norfolk Heritsge Fleet Trust for use on the Norfolk Broads, again with children in mind. Nancy Blackett's preservation - one of our key objects - became a major issue when she was hauled out at the end of the season. A damp patch in the cabin roof proved to be a symbol of significant rot in parts of her cockpit and cabin sides. Fortunately her winter quarters are now in a boatyard specialising in the 'endangered trades, of traditional boatbuilding, and an extensive programme of remediation the first of this significance since the Trust acquired her 26 years ago- was initiated. The results for the period are summarised in the Statement of Income and Expenditure and the Balance Sheet. The trustees are responsible for keeping proper accounting records and preparing financial statements for each financial year which give a true and fair view of the financial position in accordance with legal requirements. They are required to select suitable accounting policies and apply them consistently; make judgements and eslimates Ihat are reasonable and prudent., and prepare financial statements on a going concem basis, unless it is inappropriate to presume that The Nancy Blackett Trust will continue. They are also responsible for taking reasonable steps for Ihe prevenlion and detection of fraud and other irregularities.

The present policy is to maintain a r88eThe fwKI (0Xd￿￿r￿J r•strthd aKI desiwat￿J fvrKls) equivaent to at least 50% of averJe exper¥JibJre. Money i8 also set aside in restsiGted arKJ designated fLnds for making wants (yO￿Vj Sailrxs Fund) and for futuro major tjoat expenditure (n(￿ Ihe Mainten￿￿ Fund, Previous￿ called the Replacemerrt arKI Repalr F￿. Re5er¥e Fuwjs are g￿lY held in interest tming level by a cortsiderdt4e margin. The Boa￿ cthirnd to th'scuss FM)tattial investment strategies, approved an investment arvj tcrwds the end of 2023 ¥)pointed an inveslment manager to rec(MY￿eTh3 surtable kx)g t￿rn to medium risk inVeStm￿t$ for those legacy funds (£150.cMXI). These CoMme￿ed in eaty 2024 aF¥J it 1$ intended that the Trust draw down an arnual swn to ￿able rt to de¥elcy its (aritablo obi•Xs ovw expected ￿riod of 25 years. The Trustees are satisfied that this apFYoach will bth safeyd the level of reser￿$ compared to standard savings aCC￿ntS, wttere interest rates are eXP￿ted to fall durir 2024 8nd beyond. arKI rn￿gate the effKts of inffl*.￿ on expwKliture. Othèr reserves held in immediate access savirvJs cc¥M1￿ IJ) satify the r8wves pcAicy. roved (x) behtlf of the Trustees Pater Wllis, Chair Is

NANCY BLACKErr TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NANCY BLACKErr TRUST I report to the Trust¢s on my exan4nation of lh• fin&rrial Stat￿ts of Narw Blackett Trv6t (the Chaityl for the year ended 3t December 2023. R￿PonSibl11t1eS and basis ol r•port As the TruJt¢es of the Chanty you are respOn￿b￿ for lh& w￿a￿tIon ol th fli￿r￿jaI 513tetnEn15 in acrnrdanr with thè requlrements of th• charrtI￿ A¢t du11 (tho 2011 Act). I report In re6poct tsl my examination of the Chairvs finan¢ig18t8tements Carried out under 3eGtion 145 of the 2011 Act. In carrying out my examination I have foll¢ywl all the aPplab￿ Olréetiong given by th• Charty Comrn188lOn under 8eGb'on 14515Mbl of the 2011 Ad. Indcpondenl examlnerfs $tstemnt Your 8ttents.on is dffjwn to the foct that Ihe ch8rity hag prepa￿d financial statements in accordanc• with Accountinq and Reportsng by Ghaiitlcs prcperinq their a￿Ounts in ac￿rdance wlth the financial Reporting Standard appli￿￿1& in tl)¥ UK orid Republic of Ireland IFRS 1021 In preferene• to thè Aeeountln9 •nd Reporting by Chanb••.' Statoment ol Rowrnmgnded Pracbce issued on 1 April 2005 which is refefred to In the extant regulations but has now been withdrawn. l under5t8nd that this ha3 been done in ortlef for finanual Statements to provKle a true and fair vi in accordan¢• with G8nerally A￿pted Accountlng PraetSc• •tleetfv• fof feportlng wrlod¥ beglnnlng on or aft•r l January 2015. I hav• eompl•t•¢y my •xaminatson. l Gonfim) that no mattern hav• ¢om• lo my attenb'on in connectson wth the ¢xaminats'on giving me Cause lo bdiwe that in any material resF¢rt' accountlng reeord$ WÈ￿ ntx kept In r•gp•ct of th• Chaity 9 r•qulr•d by ••¢¥on 130 ¢1 th• 2011 ACL or th8 financial statements do not ac￿rd ￿th th¢yse records., or finana•l $tatemen¢s do not comply wrfh the applicab￿ requirernenls cC￿CeM1n9 the foryn and contgnt ol acGouTr¢8 set out in the chan(￿ IALGwiil¥ R¥p￿I$l ReguL41iuns 2Q)8 other than any requlrement that lh8 4ccouThts giv• a tru• •Ad tair vi•w which 1$ not a matter ccfswdewd a8 part of an Ir￿ePendent ¢xarninabon. I have no corKerns and have corne auoss no olh•r matters In eonneciion the ¢x•N￿nItIon to whlch tt•ntkryn sliuuld btr drawn in Ihis report In ordp.r to en8bLg a py undetst8r￿Ifig of thè Ilnan¢l•l it4t•m•nti to b• r•ach•d. MueyJ ￿ClLL LLP. Comé von Y4kn111gh ACA MJ Bushell Audit LLP 8 Hlgh Street Brentwood E$¢oX CM14 4AB Dated.. 21:05:.29-

THE NANCY BLACKETh TRUST CIO Charlty Number 1181202 ANNUALACCOUNTS Start date 1 January 2023 End Date 31 December 2023 STATEMENT OF FINANCIAL ACTIVITIES Note Unrestricted Restricted and funds Designated funds Total funds 2023 Total funds 2022 INCOMING RESOURCES from Donations and legacies Charitable aclivilies 15730 2000 17730 22646 2822 2822 949 Investments 3254 3254 656 Other 2707 2707 6290 TOTAL 24513 2000 26513 30541 RESOURCES EXPENDED on Raising funds Charitable activities 5571 5571 6302 26317 26317 37146 Young persons TOTAL 358 397 755 950 32246 397 32643 44398 NET INCOMEIEXPENDITURE -7733 1603 130 -13857 Net gainsflosses on investments Extraordinary items (insuran claim) Transfers between funds 16021 Gainsllosses on revaluation of fixed assets for charity's own use NET MOVEMENT IN FUNDS -7733 1603 -6130 2164 RECONCILIATION OF FUNDS Total funds brought fO￿ard Total funds carried forward 230287 397 230684 228520 222554 2000 224554 230684

BALANCE SHEEf as at 31 December 2023 . Charity Number 1181202 FIXED ASSErs CURREbrr ASSErs 1871 1935 16510 13 182379 TOTAL 194W 200824 UABILMES Uabililie5 hilhwi 12 NEfASSErs FUNDS 23(r287 14 397 RESERVES 15 224554 230684 Audlt èxemptlon For th8 year ended 31 Decaiib8r 2023 the vms entifjad ￿ exernpts￿ sesalon '.44 of the Charities Ad 2011. The trustees ackThy* their resp(Thibility f(Y ensuriThJ the charity keeps accounting records vthith pFy with the Chanbes Att. and for pveparirvJ acc￿nts in 7Aith Ihe Apwoved cffl behalf oflheTrustees rn ... .............. 1¥.0S.ZOLt Peter Wllis, Chair

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 De￿mber 2023. BASIS OF PREPARATION The financial statements are prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. These accounts are prepared on a going concem basis and have been prepared in ac¢ordan¢e with= The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 issued on 16 July 2014. and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and with the Charities Act 2011. ACCOUNTING POLICIES These are induded in the accounts when: the charity becomes entitled to the resources. the Trustees are virtually ￿rtain they will receive the resOur￿s. and the monetary value can be measured with sufficient reliability. Where incoming resources have related expenditure las with fundraising or contracl income) the incoming resources and related expenditure are reported gross in the accounts. [allt￿￿. Grants and donations are only included in the accounts when the charity has unconditional entitlement to the resources. x reclaims on donation Incoming resources from tax reclaims ar& induded in the accounts at the same time as the gift to which they relate. Yo1￿1£￿ The value of any voluntary help received is not included in the accounts but is described in the direclors, annual report Liabilit rec nilion. Liabilities are recognised as soon as there is a legal or constructive obligation commith'ng Ihe charity lo pay out resources. . Include costs of the preparation of statutory accounts and the costs of Trustee meetings

Grants with erfOrMan￿ conditions. Where the charity gives a grant with conditions for its payment being a specific level of Servi￿ or output to be provided. such grants are only recognised in the accounts once the recipient of the grant has provided the specified Servi￿ or output Tan ible fixed assets for use b the chari Larger items are capitalised if they can be used for more than one year. They are valued at cost or. if gifted. at the value to the charity on receipt. They are written off over their expected useful lives. £toGk& These are valued at the lower of cost or market value. Depreciation is calculated at 25.￿ per annum, straight line, to write down the cost of equipment over its expected useful life. The primary objects of the Trust centre on the sailing vessel Nancy Blackett and the Trust has expended the funds necessary to fully restore the vessel. The Trustees intend to maintain the vessel at its present high level of restoration. Hence, in their opinion, a charge for depreciation is not appropriate. Euod& All funds are unrestricted income funds other than the Young Sailors Fund and the Maintenance Fund where funds are Designated by the Trustees or donated and Restricted for a particular purpose. DONATIONS AND LEGACIES Unrestricted Restricted Designated Total 2023 Total 2Q22 Donations and gifts Gift Aid 3755 2000 5755 10545 2576 2576 3693 Legacies Subscriptions Totsl 9399 9399 84Q8 15730 2000 17730 22646 CHARITABLE ACTIVITIES Unrestricted Designated Restricted Total 2023 Total 2022 Maintenance and sailing costs Administration costs 19081 19081 35744 2236 2236 14Q2 Charitable donations 5000 5000 Totsl 26317 26317 37146 Staff costs.. There were no employees during the year.

FIXED ASSETS 2023 2022 NANCY BLACKE Cost at 1 January Cost at 31 December 28860 28860 28860 28860 PICTURE Cost at 1 January Cost at 31 December 1000 1000 1000 1000 Depreciation on both At 1 January Charged in year Net book value at end of year 29860 29860 DEBTORS Debtors, all of which are due within one year, comprise 2023 2022 VAT ￿payable Income tax (gift aid) repayable Insurance daim 1597 40 505 449 16021 Sundry debtors Total 231 2333 16510 CREDITORS Creditors, all of which are due within one year, comprise 2023 2022 Trade creditors VAT payable Total

LONG TERM LIABILITIES There are no long term liabilities. TRUSTEE EXPENSES Trustees may be paid for travel and in some cases for ovemight expenses for attending Board meetings. 2023 2022 Number of Trust88s who were paid expenses Amount paid 1033 117 In addition Trustees were reimbursed for expenses incurred in obtaining goods and servic8s on behalf of the Trust. No Trustee received any remuneration during the year. 10. TRANSACTIONS WITH RELATED PARTIES All transactions wilh Trustees concerning sailing the boat were made on the same basis that they would have been made if the Trustees We￿ ordinary members. 11. GOVERNANCE COSTS Un￿striCted Restricted Designated 2023 2022 Independent examination fees Other costs 425 425 420 1811 1811 982 Total 2236 2236 1402 12. STOCKS Unrestricted Restricted Designated 2023 2022 For resale 1671 1671 1935

1. CASH IN HAND AND AT BANK Unrestricted Restricted Designaled 2023 2022 Short term deposits Cash at bank and in hand 188690 2000 190690 182379

2. FUNDS Balance 1Jan 2023 In¢ome Expenditure Transfers Balance 31 Dec 2023 DESIGNATED FUNDS Young Sailors Fund maintenan￿ Fund 45 358 5000 4687 3967 20000 16033 TOTAL DESIGNATED 45 4325 25000 20720 RESTRICTED FUNDS Young Sailors Fund Mainlenance Fund 397 2000 397 2000 TOTAL RESTRICTED 397 2000 397 2000 TOTAL FUNDS 397 2045 4722 25000 22720 The Young Sailors Fund assists young people to participate in sailing experiences. Expenditure and Grants of £755 were made during the year. The Maintenance Fund repla￿d the previous Repair and Replacement Fund and provides for abnormal boat expendilure.

3. COMPARATIVES Unrestricted Designated Restricted 2023 Total Funds 2022 Total Funds INCOMING RESOURCES Donations and legacies Charitable activities 15730 2000 17730 22646 2822 2822 949 Investments 3209 45 3254 656 Other 2707 2707 22311 TOTAL 24468 45 2000 26513 46562 RESOURCES EXPENDED Raising funds Charitable activities 5571 5571 6302 22350 3967 26317 37146 Other 358 397 755 950 TOTAL 27921 4325 397 32643 44398 Net incoming resourcesl net Income {net expenses) -3453 4280 1603 4130 2164 Gain (loss) on revaluation Transfers between funds -25000 25000 NET MOVEMENT IN FUNDS -28453 20720 1603 4130 2164 Fund balances brought forward 230287 397 230684 228520 Fund balances carried forward 201834 20720 2000 224554 230684

Unrestricted Designated Restricted 2023 Total Funds 2022 Total Funds NET ASSETS BY FUND Tangible fixed assets Current assets 29860 29860 29860 171974 20720 2000 194694 200824 Liabilities TOTAL 201834 20720 2000 224554 230684