Reglstered Charity: 1189179
STEAMSHIP SHIELDHALL CHARITY
Report and flnanclal slatements
for the year ended 31" Ortober2023
Compass Accountants Llrnited
Venture House
The Tannerles
East Street
Tltchfield
Hampshire
P014 4AR

STEAMSHIP SHIELDHALL CHARITY
Contents
Page
Charity Infoimatlon
Report of the Chair
Report of the Trustees
Independent Ex3mlnerfs Report
Statement of Financlal Aclivities
Balance sheet
io
Notes to the financial statements
11-19

STEAMSHIP SHIELDHALL CHARITY
Charity Information
TRUSTEES
Captain M Phipps MBE Ichairl
Mr P Stephens
Mr H Chappell
Ms R Slos5
Mr P Smith
MITLee
Captain J Scott
Mr A Bonsor- appointed 2 April 2023
nd
nd
Mr C Ness- appointed 2 April 2023
REGISTERED ADDRESS
Compass Accountants Limited
Venture House
The Tanneries
East Street
Titchfield
Hampshire
P014 4AR
CHARITY NUMBER
1189179
WEBSITE
www.ss-shieldhall.co.uk
ACCOUNTANTS
Compass Accountants Limited
Venture House
The Tanneries
East street
Titchfield
Hampshire
P014 4AR
INDEPENDENT EXAMINER
Kerry Lawrance FCA
BANKER5
Santander UK PIC
2 Triton Square
Regents Place
London
NW2 3AN
PaEe I

STEAMSHIP SHIELDHALL CHARITY
Report of the Chair
for the perlod ended 31" October 2023
The main event of the year was the unplanned and unexpected repairs and work that was carried out in
drydock at Falmouth, at the request of the MCA. The overall cost was over £191,000 a major financial
challenge and drain on our reserves. The Shieldhall Charity has over the year experienced increases in the
pricp of fuel and insurance premiums. It 15 expected that tliis financial year we will continue to make a small
operatingloss. The prudent establishment of restricted reserves over the last couple of years has allowed
the sl)ip to continue operate, to offer additional private cruises, Including being the starlvessel for the Ocean
Globe Race and to use the ship as a venue for alongside events and as a facility available for use by the local
community se￿ICe5.
The Trustees remain confident the ship will continue to operate as a passenger carrying ship for the
foreseeable future, offering the public opportunities to sail on the largest opprating steamship in Europe
and to learn about our maritime heritcige. Equally important is for us to continue to provide personal
development of young and older persons alike. Cadets based in Solent University, church youth, local
Southampton schools and Sea Cadet group5, have all received Maritime Awareness Training. Both
HampshSre and Thames Valley Police along with Hampshire Fire and Rescue have used the vessel for training
and it is expected that this will continue in 2024.
To deliver this work requires the use of a diverse range of skills and experience. The Charity is indebted to
the tens of thousands of hours worked by our volunteers to ensure the szfe operation of the ship and also
to those who conduct the often-unseeii activities ashore.
_-L G .Plvr
Captain Martln Phipps MBE
Chair of the Board
Date:
'20.03.ZLF
Page 2

STEAMSHIP SHIELDHALL CHARITY
Report of the Trustee5
for the perlod ended 31" October 2023
The Trustees present their report and the financial statements for the period ended 31 October 2023. The
Trustees have had due regard to the guidance issued by the Charity Commission on Public Benefit. The
Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and
Reporting by Charities" IFRS 1021 in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to
the attounts and comply with the charity's governing document, applicable law and United Kingdom
Accounting Standard5 Iunited Kingdom Generally Accepted Accounting Practice).
Structure, Governance and Management
Governing document
The charity is governed by the Constitution as a Charitable Incorporated Organisation dated 23 April 2020.
Inductlon and training of Trustees
The affairs of the Charity are managed by a Board of Trustees, consisting of a maximum of 10 Trustees.
All new trustees are required to sign eligibility declarations and thÈ Charity's code of practice and are
providod with the CIO Constitution, the terms of reference of the Board or Trustees and the role profile of a
Trustee in accordance with the recommendations of the Charity Commission
New Trustees were appointed during the year following a recruitment process, they brinB extensive
knowledge in ship management, technical engineering, marine superlntendence, customer experience and
safety regulations.
Structurej governance and management
The Charity is governed by an unpaid Board of Tiustees who have delegated certain responsibilities for day-
to-day management to a Flnance and Fundraising Committee, and to a Governance and Compliance
Committee, all of whom are unpaid volunteers.
The Board Df Trustees holds regular meetings on site, to discuss the major issues affecting the Charity, and
to receive report5 from the operational cotntnittees.
The trading operations of the main asset - SS Shieldhall
are now the responsibility of the Steamship
Shieldhall Charity, thi5 permitted Solent Steam Packet (Services) which is a subsidiary of the Solent Steam
Packet Ltd to be dissolved.
The supply of catering services to customers using the Shieldhall has been provlded through another
subsidiary -Shieldhall Trading Llmited which will have iesponsibility for cateringi bar, and Shop activities
during sailing excursions and alongside events.
Rlsk management
The Trustees have a duty to identlfy and review the risks to which the company is exposed, and to ensure
appropriate controls are in place to provide reasonable assurance against fraud and error. The charity
maintains a Risk Register.
Page 3

STEAMSHIP SHIELDHALL CHARITY
Report of the Trustees
for the perlod ended 31" October 2023
ObSectlves and activitles
The objects of the CIO are..
11 To conserve, maintain, operate and exhibit for the public benefit the Steamship Shieldhall. the largest
working steam ship in Britain and a member of the National Historic Fleet.
21 To advance the education of the public in all aspects of British maritime heritage and particularly steam-
powered ships and heritage vessels of historic and technical interest, in particular by providing trips,
activities, opportunities, events and training days for schools, college5, uniformed youth organisations,
special interest groups, other educational orEanisations of all iypes and the general public, alongside and
atsea.
The Charity relies on income from events and excursions, grants and donations, as well as 5ub5criptions from
Its members, to help cover the cost5 of conservation and operation of the ship, including the on8oinB costs
of repairs and maintenance.
All of the above activities have been assigned from The Solent Steam Packet Limited, operating under a
Memorandum of Understanding dated 17 June 2020.
Achievement and performance- charltable activities
The Charity continues to meet ils objective5 Set out above.
The ship was a venue for training staff from the Ambulance Service, SoLJthampton Fire & Rescue depots,
Hampshire and Thames Valley Police and HM Coastguard Helicopter operations. The charity receives no
income for these activities but remains keen to continue to support our local community rescue and response
services.
Educational links with schools, maritime colleges, scout and sea cadet groups continue to develop, the
programme of training alongside and at sea is always well received by the participants.
An action plan, developed to deliver Learning and Participation, will continue to be Implemented. The object
of this is to attract new audiences, Including families, young people, youth groups and schools to Shieldhall.
It 15 a150 intended to increase the number of trained volunteers to provide future sustainability.
whilst the Charity is a non-profit making orBanisation, the Trustees must ensure that the day to day running
of the ship takes place orb a self-sufficient basis. All staff and volunteers recelve comprehensive training.
55 Shieldhall proudly flies the 'Red Ensign, and can carry up to 200 passengers; the safety of passengers,
those visiting and the volunteers working onboard is a subject the Board takes very seriously, and we will
continue to find ways to provide tralnlng and aim to improve their personal skills, their safety and safeguard
protection of the environment.
Heritage asset
SS Shieldhall remains the property of The Solent Steam Packet Limited.
Page 4

STEAMSHIP SHIELDHALL CHARITY
Report of the Trustees
for the period ended 31" October 2023
Financial review
The Trustees are satisfied the Charity was in a satisfactory position at the year end. The net incoming
re50urce5 for the ye.ar have decreased the reserves, with unrestricted reserves carried forward of £204,051
and restricted rese￿e5 carried forward of £9,000.
The Charity holds an unrestricted and restricted fund. The Trustees review the funds regularly in order to
designate any surplus to the most appropriate allowable purpose.
The restricted fund is for the specific purpose of maintaining SS Shieldhall and deliveiitbg the educational
activities and resources.
Reserves pollcy
Reserves are that part of the charity's unrestricted fund5 that are available to spend, at the trustees,
discretion, to further the charitWs purposes. The Charity has established two reserve ftjnds, a Designated
Reserve Fund, also known as 'Tomorrows Ambitions, and a Geiieral Reserve fund known as Today's
Challenges,.
Designated Reserve Fund
It is the intention of the Trustees to establish a reserve of £250,000 in the designèted fund. The intention of
the fund is to make a provision for the following.
l. Abnormal future expenditL(re that may arise from items such as the replacement of equipment or the
maintenance of the hull integrity that may be required to keep the ship operational. £200,000 was
allocated for this provision.
2. £50,000 was allocated to provide for unexpected changes in the charit¢s financial position due to
downturn in income or increase in expenditure.
General Reserve Fund
The charity has a fundraising committee whith appraises proposals for spending on new projects. Funding
will be cliannelled through the general reserve which initially wa5 allocated £50,000.
The balance sheet shows a total of £213,05112022.. £322,880) held in unrestricted funds. Of this, £66212022:
£2,725) related to fixed assets leaving £203,389 12022.. £311,155) free reserves which is a decrease of
£107,76612022= Decrease of £91,371) over the prevlous year's balance sheet figure. The board will decide
how th? unrestricted funds should be allocated between the re5erve5.
The trustees will continue to monitor the lèvel of reseNes during the year and will take the appropriate action
to transfer funds as they consider necessary.
Prlnclpal funding 50ur¢es
The principal sources of funding in the year were income from trading operations, donations and
subscriptions from members.
Page 5

STEAMSHIP SHIELDHALL CHARITY
Report of the Trustee5
for the perlod ended 31" October 2023
Fundralsing standard5
The Charity continually searches for possible sources of funds.
Future developments
The Board of Trustees will continue to monitor the activities of the Charity to meet the charitable objectives.
rfI-& G.PLf
Captain Martln phipps MBE
On behalf of the Board of Trustee5
Date:
Page 6

STEAMSHIP SHIELDHALL CHARITY
Report of the Trustee5
for the perlod ended 31" October 2023
Statement of Trustees, re5ponsibilitles
The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Praclicel.
The law appllcable lo charities in England & Wales requires the trustees tD prepare financial Statements for
each financial year which give a true and fair view of the state of affairs of the charity and of the incoming
resources and applicalion of resources of the charity for that period. In preparing these financial statements,
the Trustees are rÈqulred to:
select suitable accounting pollcies and then apply them consi5tently,'
observe the method and principles of the Charities SORP 2019 IFRS 1021,.
make Judgements and estimates that are reasonable and prudent,.
state whether applicable accounting standards have been followed. subject to any material departures
disclosed and explained in the financial statements; and
prepare the financia1 statements on the going concern basis unless It Is inappropriate to presume that
the charily will continue In operation.
The Trustees are responslble for keeping proper accounting records that disclose wlth reasonable accuracy
at any time the financial position of the charity and enable ihem to ensure that the financial statements
comply with the Charities Act 2011, the Charitie5 (Accounts and Reports) Regulations 2008 and the provisions
of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Captain Martin Phipps MBE
On behalf of the Board of Trustee5
Date:
20,0.3.2Lp
Page 7

STEAMSHIP SHIELDHALL CHARITY
Independent Examiner's Report to the Trustees of Steamship Shleldhall Charity
I report to the charlty trustees on my examination of the account5 of the charity fDr the period ei)ded 31
October 2023 which are Set out on pages 9 to 18.
Respon5ibllltles and basis of report
As thÈ tharity's trustees you are responsible for the preparation of the accounts in accordance with the
requirements of the charities Act 20111'the Act'l.
I report in respect of my examination of the charit¢s accounts carried out under section 145 of the Act and
in carrying out my examination I have followed all the applicable Direclions given by the Charity Commission
under section 14515llbl of the Art.
Independent examiner's statement
Since the charity's Eross income exceeded £250,000 your examiner must be a member of a body listed in
Section 145 of the Act. I confirm that l am qualified to undertake the examination because l am a member of
the Institute of Chartered Accountai)ts in England and Wales. which 15 one of the listed bodies.
I have completed my examination. I confirm that no Inaterial matters have come to my attention in
connection with the examination giving MÈ cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 130 of the Act,. or
the accounts do not accord with those records,. or
3. the accounts do not comply with the applicable requirement5 concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regu13tion5 2008 other than any
requirement that the accounts give a 'true and fair vlew, which is not a matter considered as part of
an independent examinotion.
I have rbo concerns and have come acr055 no other matter5 in connection with the examination to which
attention should be dfawn in this report in order to enable a proper understanding of the accounts to be
reached.
Kerry Lawrance FCA
Institute of Chartered Accountants in England and Wales.
Venture House, The Tanneries
East Street, Titchfield
Hampshire
P014 4AR
Date: J ￿￿(1 Qo2
Page 8

STEAMSHIP SHIELDHALLCHARITY
Statement of flnancial activities lincorporatlng the income and expenditure account)
For the year ended 31" Ottober 2023
Unrestrlcted Jlestricted
funds
fund5
2023 Unrestrlcted Restrlcted
Total
fund5
funds
2022
Total
Notes
Income from:
Donations and legacie5
Charitable activities
other trading activities
Grants
Income froni investments
81,015
161.786
38,776
30,050
111.065
161,786
38,776
33,526
155.104
24,346
3￿,￿0
17,161
50,687
155,1(14
24.346
226.415
196,415
409
409
Total Income
281,986
30.050
312,036
242,978
213,576
456.554
Expenditure on:
Fundraising cost5
Charitable activities
ii,ioi
191,298
10,122
ii,ioi
400,642
10,122
7.761
308,527
18,061
7,761
565,233
18,061
209.344
256,706
Governance costs
Total expenditure
212,521
209,344
421,865
334,349
256,706
591,055
Net incomellexpenditurel
69,465
1179,2941 1109,8291
191,3711 143,1301 1134,5011
Transfer between funds
1179,2941
179.294
Net movement in funds
1109,8291
1109.8291
191,3711 143,1301 1134,5011
Reconciliation of fund5:
Total funds biought forward
313,880
9,000
322.880
405,251
52,130
457,381
Total funds carried forward
204.051
9,000
213,051
313,880
9,000
322,880
The notes on pa8es 11 to 18 form an Integral part of these financlal slatemertts.
Page g

STEAMSHIP SHIELDHALL CHARITY
Balance Sheet
as at 31" October 2023
2023
2022
Notes
Fixed 35sets
Intangible assets
T3ngible assets
Investmont5
li
12
13
562
2.625
100
IOD
662
2,725
Current assets
Stock
Debtor5
Cash at bank and in hand
14
27,070
22,120
192,056
29,567
9.333
348,961
15
241,246
387,861
Credltors: amounts falling
due withln one year
16
128,8571
167,7061
Net current assets
212,389
320,155
Total assets less current
213,051
322,880
Net assets
213,051
322.880
Capltsl and reserves
17
Unrestrictecl funds
204,051
313.880
Restricted f6tsnds
9.000
9,000
Total funds
213,051
322.880
The flnan¢lal siaten)ents were approved and authoris@d for issuÈ by the Board of Trustees and signed on it5 behalf by..
rfla G.Pi4p'
Captain Martin Phipps MBE
On behalf of the Board of Trustees
Date:
20,03.2LI-
The noles on pages 11 to 18 form an Integral part of thèse financlal statements.
Page 10

STEAMSHIP SHIELDHALL CHARITY
Notes to the financial statement5
for the period ended 31" October 2023
Actounting pollcles
Charity information
The Steamship Shieldhall Charity is a registered ch8Tlty, number 1189179. Th? registered address is 11 Compass
Accountant5 Limited. Venture House, The Tanneiies, East Street. Titchlield, Hampshire, P014 4AR. The Charity
operates the Steamshlp Shieldhall frorn YerLh 110, Western Dock5, Southampton, Hampshire, S015 OHH.
The Steemship Shleldhall Charity meets the deflhliitsn of a public benefit entity under sÈttlon 34 of FRS 102. A55ets
and liabilities are initially recognised at hisiorical cost or transaction value, unless otherwise staled in the relevant
accounting policv.
The prlncipal objectives of the charity are delBiled in the Trustees, repoTt.
1.2. Basis of accounting
The financial statements have been prepared in accordancewith Accountingand RÈportlng by Charities.. Stalement
of Recommended Practice applicable to Charities prepaiing their accounts in accordance with the Flhanci31
Reporting Standard appllcable in the UK and Republic of Iieland IFRS 1021 issued in October 2019, the Financial
Reporting Standard applicable the Unlted Kingdom and Republic of Ireland IFRS 1021, and UK GenerallyAccepted
Accounting Practice.
The financial statements are presented in sterling which is the functional curfency of the charity. Monetary
amounts in these financial statements afe rounded to the nearest £.
1.3. Fund accounting
Unrestricted fund5 can be used in accordance wÉth the charitable objectives at the discretion of the Trustees.
RestrÈcted funds can only be used for a particular restricted purpose wtrthln the rules of the Charily. Restrictions
arise when specified by the donor, oi when funds are raised fof partltular restricted Purposes.
1.4. Incomlng resources
All incoming resources are included in the statement of financial ilctivities when the charity 15 legally entitled to
the income and the amount can be quantilicd with reasonable accuracy. The following specific pulicies are applied
to particular categories of income..
All income 15 awounted for on an accrLta15 basis, wlth the exception of external donation5 and fundraising, which
are accounted for on a Teceipl'5 basi5.
Where Items and services have been don3ted. the value of the donation ha% been assessed by the Trustees. The
charity is also ieliant on volunteers to assist with the maintenance of the SS Shieldhall. The contributlon of these
volunteers has not been included as a monetary value in these accounts.
Resources expended
Expenditure is accounted for on an accruals basis and has been classifled under headings that aggregate all cost
related to the categoTV. Where costs cannot be directly attrlbuted to particular headings. they have been allocated
to activities on a basis consislent with the use of resources.
1.6. Intangible fixed assets
Intangible flxed assets are stated at cost less accumulated depreciation. Depreciation is provided at rate5
calculatcd to write off the cost over its expected useful life of 4 years.
1.7. Tangible flxed assets and depreclatlon
Tangible fixed a55Et5 dre stated at cost less accumulated depreciation. Depreciation 15 provlded at rales calcul3ted
to write off the cost less residual value of each asset over its expected useful life, as follow5=
Saloon
20% stralght line
Equipment
20Yo ieduclng balance
1.7. Stock
Stock Is valued at the lower of c05t and likely di5pos31 proceeds, after expenses of disposal.
Page 11

STEAMSHIP SHIELDHALL CHARITY
Notes to the flnanclal statements
for the period ended 31" October 2023
Financial Instruments
The Charity has elecled to apply the provision5 of Section 11 'Basic Financial Instrument5. and Section 12 '0ther
Financlal Instiument5155ues' of FR5102 to all of Its financial inslrument5.
The charity only has financial assets and fEnanclal liabllities of a kind that qualify as basic financial instruments.
These are recognised al tian5aCtion val￿e and subsequently measured at thelr settlement value.
Financial assets 3nd liabilities are offset, with the net amounts pres@nt@d in the financial statements, when there
is a legally enforceable rlght to set off the recognised amounts and there is as) intention to settle on a net basis or
to re)lise the asset and setlle the liability simultanèouslv.
Going concern
The financial statements have been prepared on a going contern basis as the trustee5 believe that no materÉal
uncertainties exlst. The trustees have considered the level uf lunds held and the expected level of income and
expenditure for 12 months fiorn authorising these financial statements. The budgeted income and expenditure is
sufficient with the level of reserves for the charity to be able to continue as a going concern.
Donations and legacles
Unrestritted
funds
Restricted
funds
2023
Total
Unrestrscted Restrlcted
funds
funds
2022
Total
Donations
25,346
Gilt aid recovered
9,526
Donatlons Irom iradlng company 40,643
Legacies
5,500
30,050
55.396
9,526
40,643
5,50D
13,675
17,161
30,836
13,888
5.963
13,888
5,963
81,015
30,050
111,065
33,526
17,161
50,687
Charitsble actlvltles
Unrestricted
funds
Restrlcted
funds
2023
Total
Unrestrlcied Restrlcted
funds
fund5
2022
Total
Ticket sales
150,798
10.948
150,798
10,948
136,415
18.689
136,415
18,689
Charters
161.786
161,786
155.104
155,104
Income Irom other trading activities
UnTe51rlcted
funds
Restilcted
funds
2023
Total
UnrestrScled Restricted
funds
funds
2022
Total
Membership subscription5
Raffle5
13.951
3,408
9,797
4,003
7,617
13,951
3,408
9,797
4.003
7,617
8.935
3.985
7,065
8,935
3,958
7,065
Lotiery
Fundraising
Other tradSng aclivities
4,388
4,388
38,776
38,776
24,346
24,346
Page 12

STEAMSHIP SHIELDHALL CHARITY
Notes to the financial statements
for the period ended 31" October 2023
Grants
Unreslrlcted Restricted
funds
funds
2023 Unrestricted Restrlcted
Total
funds
funds
2022
Total
National Lottery Heritage Memorlal Fund
Garfield Weston
196,415
196,415
30,000
30,000
30,000
196,415
226.415
Activities undertaken dlrectlv
Unrestrlcted Restrlctod
funds
funds
2023 Unrestrlcted Restrlcted
Total
lund5
funds
2022
Total
Fuel
Pllots berthing
71,952
16,970
9,404
17,496
37,623
2,372
13.920
3,559
1,861
2.629
8,679
2,770
2,063
71,952
16,97
9,404
17,496
246.967
2,372
13,920
3.559
1,861
2,629
8.679
2,770
2.063
68,657
24,272
8,928
15,768
148,656
8,073
10,167
2,391
3,882
2,718
8,831
4,121
2,063
68,657
24,272
8,928
15,768
405.362
8,073
10,167
2,391
3,882
2,718
8,831
4,121
2.063
Insuratlce
Shlp repairs and maint?n3nce
General repairs and maintenance
Ma¥keting
Card charges
Event Costs
Travel and subsist@nce
Professlonal fees
Svndry expenses
Depreclatlon
209.344
256,706
191,298
209,344
400,642
308,527
256.706
565,233
Governance and support costs
Governance
2023 Governance
Total
costs
2022
Total
costs
Independent examine¥'5 fEe
Accountancy fees
Telephone, stalionery and oflice
Subscriplions
Internet
1,000
3,953
741
1,000
3,953
741
1.000
3.903
5.165
2,893
5,100
I,ooo
3,903
5,IS5
2.893
5,100
595
3,833
595
3,833
10,122
10,122
18,061
18,601
Net Incomlng resources for the year
2023
2022
Net outgolng reSoUr￿S Is stated altei charging..
Depreciation and other amount5 written off langible fixed assets
Independent examiner's remuneration
Independent examlner's remuneralion from other work
2.063
1,000
3,953
2,063
1.000
3,903
Page 13

STEAMSHIP SHIELDHALL CHARITY
Notes to the financial statements
for the period ended 31, October 2023
Employees
The charity employed no staff durine the year. There were no remuneration or other benefils for the year ended
31 Oclober 202312022: £Nill paid to the Trustees.
No trustee expenses have been Incurred durlng the year.
10. Taxatlon
All of the charity's income 15 applted ft)r chaiitable purposes and therefore the charity is exempt from corporation
tax.
11. Intanglble fixed assets
Website
Total
Cost
At l Novèmber 2022
Additions
Dlsposals
8.250
8,250
At 31 October 2023
8,250
8,250
Depreciation
At l November 2022
Charge for the year
On dlsposals
5.625
2,063
5.625
2,063
At 31 October 2023
7,688
7,688
Net book values
At 31 Octobei 2023
562
562
At 31 Oetober 2022
2,625
2,625
Page 14

STEAMSHIP SHIELDHALL CHARITY
Notes to the financlal statements
for the period ended 31" October 2023
12. Tanglble flxed asset5
Saloon
Equipment
Total
Cost
At l November 2022
Addltions
Disposals
367
9.361
9.728
At 310ctober 2023
367
9,361
9,728
Depreciatlon
At l November 2022
Charge lor the year
On dlsposals
367
9,361
9,728
At 31 October 2023
367
9,361
9,728
Net book values
At 31 October 2023
At 31 October 2022
13. Investments
2023
2022
At cost
loo
loo
The investment is the entire issued share capital of the following UK registered company, transferred to the
Steamship Shieldh811 Charity frotn The Solenl Steam Packet Limited on 12, April 2021..
Reserves
Reserves
2022
Companynumber
Share capltal
2023
Shieldhall Trading Limited
OS664230
loo
29.386
27,729
2023
2022
Summary of trading results..
Turnover
Expendlture
Net surplus for the year
80,232
178,5751
1,657
48.598
135.2041
13,394
14. Stock
2023
2022
Fuel and oll
Pèlnt and consumables
18,620
8,450
26,895
2,672
27,D70
29.567
Page IS

STEAMSHIP SHIELDHALL CHARITY
Notes to the financial statements
for the period ended 31" October 2023
15. Debtors
2023
2022
Prepayments
other debtors
15,382
6,738
9.333
22,120
9,333
16. Creditors: amounts fallinE due within one yÈar
2023
2022
Accruèls
other creditors
other taxes
Amounts owing to connected companies
3,250
ii,oii
3,813
28,956
23,926
25,607
28,857
67,706
17.
Net asset5 between funds
Unrestricted Restrlcteil
funds
funds
Total
2023
Intangible fixed assets
Investments
562
562
loo
loo
Current asseis
Current liabilitie5
232,246
128,8571
9,000
241,246
128,8571
204,051
9,000
213,051
Unrestricted Restrlcted
furEds
funds
Tolal
2022
Intanglble fixed asset5
Investments
2,625
loo
2,625
loo
Current assets
378.861
167,7061
9,OOCI
387,861
167.7061
Current liabilltles
313.880
9,OOt
322,880
PaBe 16

STEAMSHIP SHIELDHALL CHARITY
Notes to the financial statements
for the perlod ended 31 October 2023
18.
Unrestricted funds
At l November
2022
Incoming
resources
Outgoing
resources
At 31 October
2023
Transfers
Unrestricted fund5
313,880
281,986
1212,5211 1329,294
150,000
54,051
150.00
Drydock designated funds
313,880
281,986
1212.5211 1179.2941
204.051
Unrestricted funds
At l Novèmber
2021
Incomlng
re50ur¢es
Outgolng
resouY¢es
At 31 October
2022
Transfers
Unrestricted funds
405,251
242,978
1334,3491
313,880
405.251
242,978
1334.3491
313,880
19.
Restricted fund5
At l November In¢omlh8
2022 resources
Outggln
resources
At 31 OctDber
Transfers
2023
Drydock fund
Cabin refurbishment fund
Ladies Toilets fund
Bridge Electrics (EFnd
30,050
1185,7351
155,685
9,000
9,000
120,0001
13,6091
20,000
3,609
9,000
30,050
1209.3441
179.294
9,000
At l November Incoming
2021 resources
Outgoing
resources
At 31 October
Transfer5
2022
Drydock lund
Cabin refurbishment fund
43,130 213,576
9,000
1256,706
9,000
52,130 213.576
1256,7061
9,000
Purposes of restricted funds
The restricted funds, detailed above, are those which can only be used for a partlcular restricted purpose wtthin
the rules of the society. Reslrictions arise when specified by a donoi, Sponsor, thè conditions of a grant award, or
when raised a5 the result of a specific fundraising appeal lor example, toward5 the cost of dry dock.
Drydock Funds
The 2023 Dry Dock Reslricted Fund of £30,050 was used In Its entSrety togethei with £155,685 from Unrestricted
Funds
Cabin Refurbishment
The programme to improve onboard accommodatlon for the crew and young people participating in traininE
courses was put on hold in 21-22. £9,000 has been carried forward to 2023-24 when it Is expected the
refurbishment work will commence.
Page 17

STEAMSHIP SHIELDHALLCHARITY
Note5 to the financial statements
for the period ended 31" October 2023
20.
Related party transaction5
There are no related paity tran5aCtIOn5.
21. Ultlmate parent undertaklng
The ulttmate controlling p3ity are the Board of Tru5teÈs.
22. Flnantlal Instruments
The carryinÈ amounts of the charltvs flnarnclal Instcuments are as f(>llows'.
2023
2022
Financlal assets
Debt instruments measured at amortised cost:
oiher debtor5 Inote 151
6,738
9,333
6,738
9,333
Financlal liabilitles
Measured at amortised cost
Other creditors (note 161
- Amount owing to connected companles (note 161
3,813
23,926
25,607
25,607
27,739
Page 18