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 aver*Je 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￿ cthirn*d to th'scuss FM)tattial investment
strategies, approved an investment arvj tcrw*ds 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¢y*wl all the aPpl*ab￿ Olréetiong given by th• Charty Comrn188lOn
under 8eGb'on 14515Mbl of the 2011 Ad.
Indcpondenl examlnerfs $tstem*nt
Your 8ttents.on is dffjwn to the foct that Ihe ch8rity hag prepa￿d financial statements in accordanc• with Accountinq
and Reportsng by Ghaiitlcs prcperinq their a￿Ounts in ac￿rdance wlth the financial Reporting Standard appli￿￿1&
in tl)¥ UK orid Republic of Ireland IFRS 1021 In preferene• to thè Aeeountln9 •nd Reporting by Chanb••.' Statoment
ol Rowrnmgnded Pracbce issued on 1 April 2005 which is refefred to In the extant regulations but has now been
withdrawn.
l under5t8nd that this ha3 been done in ortlef for finanual Statements to provKle a true and fair vi** in accordan¢•
with G8nerally A￿pted Accountlng PraetSc• •tleetfv• fof feportlng wrlod¥ beglnnlng on or aft•r l January 2015.
I hav• eompl•t•¢y my •xaminatson. l Gonfim) that no mattern hav• ¢om• lo my attenb'on in connectson wth the
¢xaminats'on giving me Cause lo bdiwe that in any material resF¢rt'
accountlng reeord$ 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

13. CASH IN HAND AND AT BANK
Unrestricted Restricted
Designaled
2023
2022
Short term deposits
Cash at bank and in hand
188690
2000 190690 182379
14. 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.

15. 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