Registered Charity.. 1189179
STEAMSHIP SHIELDHALL CHARITY
Report and flnancial statements
for the year ended 31" October 2024
Compass Accountants Limited
Venture House
The Tanneries
East Street
Tltthfleld
Hampshire
P014 4AR

STEAMSHIP SHIELDHALL CHARITY
Contents
Page
Charity Information
RepoTt of the Chalr
Report of the Tru5tee5
Independent Examiner's Report
statement of Flnanclal Activltles
Balance sheet
io
Notes to the financial 5tatement5
11-19

STEAMSHIP SHIELDHALL CHARITY
Charity Informdtlon
TRUSTEES
Captain M Phipps MBE Ichairl
Mr P Stephens
Mr H Chappell
Ms R Sloss
Mr P Smith
MrTLee
Captain J Scott
Mr A Borbsor
Mr C Ness
Ms C Warr- appointed 7, April 2024
REGISTERED ADDRESS
Compass Accountants Limited
Venture House
The Tanneries
East street
Titchfield
Hampshire
P014 4AR
CHARITY NUMBER
1189179
WEBSITE
WWW.S5-shieldhall.co.uk
ACCOUNTANTS
Compass Accountants Limited
Venture House
The Tanneries
East Street
Titchfield
Hampshire
P014 4AR
INDEPENDENT EXAMINER
Kerry Lawrance FCA
BANKERS
Santander UK PIC
2 Triton Square
Regents Place
London
NW2 3AN
Page I

STEAMSHIP SHIELDHALL CHARITY
Report of the Chalr
for the period ended 31" Oitober 2024
The highlights of the year have been to be awarded the King5 Award for Voluntary Services and to achieve a
small net profit of £16,070 over the year, the first time the account5 have shown a profit for some time. Thi5
has been acF>ieved by careful CDSt control, increased contribution from trading activities, new excursion
destinations and very generous support from our members for which we are very grateful.
The prudent establishment of restricted re5eive5 over the last couple of years has allowed the ship to
continue operate, to offer additional private cruises and to Use the ship as a venue for alongside events and
as a facility available for use by the local community services. The ship has been used extensively for training
by the Pollce, Fire and Rescue and Ambulance services
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 operating steamship in Evrope
and to learn about our maritime heiitage. The ship will be 70 years old 2025, and inevitably continues to
need repair and replacement of corroded items. Ever tightening re8ulations will also require investment and
for these purposes the trustees will be seeking grant funding from the National Lottery Heritage Fund in
2025. We will need to implement additional fundraising activities to provide match funding.
Equally imporlant is for us to continue to provide personal development of young and older persons alike.
Cadets based in Solent University, church yauth, local Southampton schools and Sea Cadet groups, have all
received Maritime Awareness Training. Both Hampshire and Thames Valley Police along with Hampshire Fire
and Rescue have used the vessel for training and it is expected that thi5 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 ol thousands of hours worked by our volunteers to ensure the safe operation of the ship and also
to those who conduct the often-unseen activilies ashore.
Captain Martin Phipp5 MBE
Chair of the Board
Date:
. 20.25.
Page 2

STEAMSHIP SHIELDHALL CHARITY
Report of the Trustees
for the period ended 31" October 2024
The Trustees present their report and the financial statements for the peiiod ended 31 October 2024. 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
Reportlng 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 atcounting policies set out in notes to
the accounts and comply with the charitws governing document, applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Structure, Governance and Management
Governing document
The charity is governed by the Constitution as a Charitable Incorporated Organi5ation dated 23 April 2020.
Induction 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 slgn eligibility declarations and the Charity'5 code of practice and are
provided with the CIO Constitution, the terms of reference of the Board or Trustee5 and the role profile of a
Trustee In accordance wlth the recommendations of the Charity Commission
New Trustees were appointed during the year following a recruitment pioce5S, they brirkg extensive
knowledge in shlp management, technical engineering, marine superintendence, customer experience and
safety regulations.
Structurei governance artd management
The Charity is governed by an unpaSd Board of Trustees who have delegated certain responsibilities for day-
to-day management to a Finance and Fundraising Committee, and to a Governance and Compliance
Committee, all of whom are unpaid volunteers.
The Board of Trustees holds regular meetings on site, to discuss the major i55ue5 affecting the Charity, and
to receive reports from the operational committees.
The trading operations of the main asset- SS Shieldliall are the responsibility of the Steamship Shieldhall
Charity.
The supply of catering seNices to Customers using the Shieldh311 has been provided through a subsidiary -
Shieldhall Trading Limited
which has responslbility for caterin& bar, and shop activities during sailing
excursions and alongside events.
Risk 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 Charitv
maintains a Risk Register.
Page 3

STEAMSHIP SHIELDHALLCHARITY
Report of the Trustees
for the period ended 31" October 2024
Objectives and activities
The objects of the CIO are..
11 To conseNe, 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 8riti5h maritime heritage and particularly 5team-
powered ships and heritage vessels of historic and technical interest, in particular by providing trips.
activities, opportunities, events and training days for schools, colleges, uniformed youth organisations,
special interest groups, other educational organisations of all types and the general public, alongside and
at sea.
The Charity relies on income from events and excursions, Erants and donations, as well as Subscriptions from
its members, to help cover the costs of conseivation and operation of the ship, Includin8 the ongoin8 Costs
of repairs and maintenance.
All of the above activities have been assigned from The Solent steam Packet Limited, opeiating under a
Memorandum of Understanding dated 17 June 2020.
Achlevement and performance- charltable actlvltles
The Charity continues to meet its objectives set out above.
The ship was a venue for training staff from the Ambulance SeTvice, Southampton Fire & Rescue depot5,
Hampshire and Thames Valley Police and HM Coastguard Helicopter operations. The charity receives no
Income for these activitles 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 participant5.
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 is also intended to increase the number of trained volunteers to provide future sustainability.
Whilst the Charity Is a non-profit making organisation, the Trustees must ensure that the day to day running
of the ship takes place on a sel*-sufficier>t basis. All staff and volunteers receive comprehensive training.
SS Shleldhall 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 seriouslytr and we will
continue to find ways to provide training and aim to improve their personal skills, their safety and safeguard
prolection of the envlronment.
Herltage asset
SS Shieldhall remains the property of The Solent steam Packet Limited.
Page 4

STEAMSHIP 5HIELDHALL CHARITY
Report of the Trustees
for the period ended 31" October 2024
Financial revlew
The Trustees are satisfied the Charity was in a satisfactory position at the year end. The net incoming
resources for the year have decreased the reserves, with unrestricted reserves carried forward of £220,121
12023: £204,051) and restricted reserves carried forward of £9,00012023.' £9,000).
The Charity holds an unrestricted and restricted fund. The Trustees review the funds iegulaily 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 delivering the educational
activities and resources.
Reserves policy
Reserves are that part of the charity's unrestricted funds that are available to spend, at the trustees,
discretion, to further the charitvs purpose5. The Charity has established two reserve funds, a Designated
Reserve Fund, also known as 'Tomorrows Ambitions, and a General Reserve fund known as 'Today's
Challenge5'.
Designated Reserve Fund
It is the intention of the Trustees to establish a reserve of £250,000 In the desSgnated fund. The intention of
the fund is to make a provision for the following.
l. Abnormal future expenditure that may arise from items such a5 the replacement of equlpment 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 charity's financial position due to a
downturn in income or increase in expenditure.
General Reserve Fund
The charity has a fundraising committee which appraises proposals for spending on new projects. Funding
will be channelled throu8h the general reserve which initially was allocated £50,000.
The balance Sheet shDWS a total of £220,12112023'. £213,051) held in unrestricted funds. Of this, £IOO12023'.
£6621 related to fixed assets leavin8 £220,02112023'. £203,389) free reseNes which is an increase of £16.632
12023.. Decrease of £107,766) over the previous yearfs balance sheet figure. The board will decide how the
ijnrestricted funds should be allocated between the reserves.
The trustees will continue to monitorthe level of reserves during the yearand will take the appropriate action
to transfer funds as they consider necessary.
Principal fundlng sources
The principal 50urce5 of funding in the year were income from trading operations, donations and
subscriptions from member5.
Page 5

STEAMSHIP SHIELDHALL CHARITY
Report of the Trustee5
for the perlod ended 31" October 2024
Fundraising standards
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 objective5.
Mlth. G IlviPS
Captaln Martin Phipps MBE
On behalf of the Board of Trustees
Date:
PaEe 6

STEAMSHIP SHIELDHALL CHARITY
Report of the Trustees
for the period ended 31" October 2024
Statement of Trustees, responslbllltles
The Trustees are responsible for preparing the Trustees, Annual Report and the flnancial statements In
accordance witl) applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England & Wales req￿lre$ the trustees to prepare financial statements for
each financial year which Eive a true and fair view of the state of affalrs of the charSty and of the Incoinlng
resources and application of resources of the charity for that period. In preparing these financial statements,
the Trustees are required to..
select suitable accounting policies and then apply them consistently,.
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 explèined in the financial statements- and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy
at any time the financial position of the charity and enable them to ensure that the financial statements
comply with the Charitie5 Act 2011, the Charities IAccounts 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.
nlts & eLeps
Captain Martin phipps MBE
On behalf of the Board of Trustee5
Date..
.Zoz5.
Page 7

STEAMSHIP SHIELDHALL CHARITY
Independent Examiner's Report to th8 Trustees of Ste3mshlp Shieldhall Charity
I report to the charity trustees on my examination of the accounts of the charity for the period ended 31
October 2024 which are set out on pages 9 to 18.
Responslbllltles and basis of report
As the charit¢s trustees you are responsible for the preparation of the accounts In accordance wlth the
requirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the charity's accounts carried out under soctlon 145 of the Act and
in carrying out my examination I have followed all the applicable Directions given by the Charity Commission
under section 14515llbl of the Act.
Independent ex4miner's statement
since the charity's gross income exceeded £250,000 your examiner must be a membei of B body listed in
section 145 of the Act. I confirm that l am qua51fied to undertake the examination because l am a member of
the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examinalion. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respecl of the charity as required by section 130 of the Act,. or
2. the accounts do rbot accord with those records. or
3. the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Account5 and Reports) Regulations 2008 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.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Kerry L?wrance FCA
Institute of Chartered Accountants in England and Wales.
Venture House, The Tanneries
East Street, Titchfield
Hampshire
P014 4AR
D?te:*Trl hep i i_ 2oL<
Pagè 8

STEAMSHIP SHIELDHALL CHARITY
st?tement of flnanclal actlvltles {Incorporatlng the Income and expendlture account)
Forthe yearended 31" October 2024
Unrestrlcted Restrlcted
funds
funds
2024 Unre51TlCted Restricted
Total
funds
funds
2023
Total
Notes
Income from:
Donations atld legacies
Charilable activitie5
Other tiading actlvitle5
Income from investments
105,354
165,131
40,964
2,280
105,354
165,131
40,964
2,280
81,015
161,786
38,776
409
30,050
111,065
161,786
38.776
409
Total income
313,729
313,729
281,986
30,050
312,036
Expenditure on:
Fundralslng costs
Charitable activities
Governance costs
12.542
272,331
12.786
12.542
272,331
12,786
ii.ioi
191,298
10.122
ii.ioi
400,642
10.122
209,344
Total expendlture
297,659
297,659
212,521
209,344
421,865
Net Income/(expenditurel
16,070
16,070
69.465
1179,2941 1109,8291
Transfer between funds
1179,2941
179,294
Net movement Sn funds
16,070
16,070
1109,8291
1109,8291
Reconciliation of funds:
Total funds brought forward
204,051
9,OCN)
213,051
313,880
322,880
Total funds carried fonNard
220.121
9.000
229,121
204,051
9,000
213.051
The rEote5 on pages 11 to IS form an Integral part of these flnanclal statements.
Page 9

STEAMSHIP SHIELDHALLCHARITY
Balance Sheet
as at 31, October 2024
2024
2023
Notes
Flxed assets
Intangible assets
Tangible assets
Investments
io
li
12
562
loo
11)0
loo
662
Current assets
stock
Dgbtoys
Cash at bank and hand
13
14
14,738
23,001
227,909
27,070
22.120
192,056
265,648
241,246
Creditors: amounts falling
due wlthln one year
15
136,6271
128.8571
Net current assets
229,021
212,389
Total assets less current
Ilabllltles
229.121
213,051
Net assets
229,121
213,051
Capital and reserves
Unrestricted funds
16
220,121
204,051
Restrlcted fund5
9,000
9,(K)O
Total funds
229.121
213,051
The financial statements were approved and authorised for issue by the Board of Trustees siEned on it5 behalf by..
rf-L G Pkiff£
Captaln Martln Phlpps MBE
On behalf of the Board of Trustees
Date:
.LF.2015.
The notes on pages 11 to 18 form an InteEial part of these flnènclal siatements.
Page 10

STEAMSHIP 5HIELDHALL CHARITY
Notes to the flnanclal statements
for the period ended 31" October 2024
Accounting pollcles
1.1. Charity information
The Steamship Shieldhall Charity 15 3 regislered charltyi number 1189179. The registered address is Compass
Accountallts Limlted, Venture House, The Tanneiies, East Street. Titchlield. Hampshire, P014 4AR. The Charity
operètes Ihe Steamship Shieldhall from Berth 110, WestÈin Docks, Southampton, Hampshire, S015 OHH.
The Steamship Shieldhall Chaiity meets the definilion of a public benefit entity under section 34 of FRS 102. Asset5
and liabilities are initially recoEnised at hislorScal cost or transaction value, unless otherw¥%è stated In the relevant
accounting policy.
The prlntlpal oblectlves of the charity are detailed in the Trustees, report.
Basis of accounting
The financ131 statements have been prepared in accordance with Accounting and Reporting bycharities.. Statement
of Recommended Practice applicable to charilies preparing their account5 in accordance wSth the Financlal
Repoiting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019, the Financial
Rppoitin8 Standard appllcable in the United Kingdom and Republic of Ireland IFRS 1021, artd UK Generally AtcÈpted
Accounting Practice.
The linantial statements are presented In sterling which 15 the functional cuirency of the charlty. MonÈt8rv
amounts in these financial statements are rounded to the nearest É.
Fund accounting
Unrestricted lunds can be used In accordance with the charitable objective5 at the discretion of the Trusteès.
Restricted furids can only be Used for a p3rtlcular restricted purpose within the rules of the Charity. Restrictions
arise when specified by the donor. or when furkd5 are r8ised for pBfticular restrlcted purposes.
1.4. Incoming resources
All incominE iesource5 ale included in the statement of financial activities whe.n thg charity is le.gally pntitlo.d to
the IncomÈ and the amount can be quantified with reasonable accuracy. The following Specific policie5 are applied
to parlicular cateRories of income..
All Income Ss accounted for on an accruals basis, with the exception of external donatlons and fundralsing, whlch
are accounted for on a re¢elpt's basis.
Where items and services have beèn donated, the value of the donation has been assessed by the Trustees. The
charity 15 also reliant on volunteers to assist with the maintenance of the SS Shieldhall. The contribution of these
volunteers has not been included as a monetaTV value in th￿e account5.
Resources expended
Expenditure is actounted for on an accruals basis and has been classified unde¥ headings that a£greEate all cost
related to the cate8ory. Where costs cannot be directly atlribuled to paititular headings, they have been allocated
to activities on a basls conslstent with the use of resour￿5.
Intanglble flxed assets
Intangible fixed 3SSets are stated at tost less accumulated depreciatlon. Depreciation is provided at rates
calculated to write off the cost over ils expected useful lile of 4 years.
1.7. Tangible fixed assets and depreclation
Tanglble fixed asset5 are stated at cost less 3ccumulatÈd dÈpreeiation. Depreclation is provided al rates calculated
to wrlle off the cost less resldual value of each asset over its expected useful Ilfe, as follows:
Saloon
20% stralBhl Ilne
Equipment
20Yo reduclng balance
1.7. Stock
Stock is valued at the lower of cost and Ilkely dlsposal proceeds, after expense5 of disposal.
Page 11

STEAMSHIP SHIELDHALLCHARITY
Notes to the financlal statements
for the period ended 31" October 2024
1.8. Financial Instruments
The Charity h3s elected lo apply the provisions of Section 11 'Basic Financial InstfEEments' and Section 12 '0ther
Flnancial Inslruments Issues, ol FRS102 to all of itk finantlal Instruments.
The Charity only has financlal assets and financial liabilities of a kind that qualify as basic financial instruments.
These are recoEnised at transaction value and subsequenily measured at thelr settlement value.
Financial assets and liabilities are offset, wlth the net amourkts presented in the financial statements, when there
15 a legally enforceable light to Set off the recognlsed amounls and there is an intentlDn Io s@ttlÈ on a net basls or
to realisÈ the asset and settle the liability simultaneously.
1.9. Going Concern
The financial statèmÈnts have been prepared on a going concern basis as the trustees believe that no material
unceitainties exist. The Irustees have considered the level of funds held and the expected level of income and
expenditure for 12 months from authori5ing these financlal stalements. The budReled income and exp@nditurÈ15
suflicient with thè level of reserves for the charity to be able to continue as a going concern.
Donations and legacies
Unrestricted Restricted
lunds
funds
2024
Unrestrlcted Restricted
funds
funds
2023
Total
Total
Donktlons
Gift aid recovered
Donations from trading company
Le&atles
59,996
12,326
32,982
50
59,996
12,326
32,982
50
25,346
9,526
40,643
5,500
30,050
55,396
9,526
40,643
5,500
105,354
105.354
81,015
30,050
111,065
Charitable activities
Unrestrlcted Restrlcted
funds
funds
2024
Total
Unrestrl¢ied
funds
Restrlcted
funds
2023
Total
Ticket sales
ChartÈrs
155,832
9,299
155,832
9,299
150,798
10,948
150,798
10,948
165,131
165,131
161,786
161,786
Income from other trading actlvltles
Unrestricted
funds
Re5trlcted
funds
2024
Total
Unrestrlcted Restrlcted
funds
funds
ZOZ3
Total
Membership substrlptlons
Rallles
20,365
2,361
8,108
3,124
7,(X)6
20,365
2,361
8,108
3.124
7,006
13,951
3,408
9,797
4,003
7.617
13,951
3,408
9,797
4,003
7,617
Lotiery
Fundraising
Other tradlng attlvlties
40,964
40,964
38,776
38,776
Page 12

STEAMSHIP SHIELDHALL CHARITY
Notes to the financial statements
for the perlod ended 31" October 2024
Activities undertaken dlrectlv
Unrestrlcted Restrlcted
fund5
fund5
2024 Unrestrlcted Re5trlcted
Total
funds
funds
2023
Total
Fuel
Pllot% berthlnÈ
82,237
23.918
12,849
24,999
88,700
5,701
16,087
3,854
1,913
1,517
7,994
82,237
23.918
12.849
24,999
88,70D
5,701
16,087
3,854
1,913
1,517
7,994
2,000
562
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
16.970
9.404
17,496
246,967
2,372
13,920
3,559
I,A61
2,629
8,679
2.770
2,063
Insuran
Ship repairs and maintenance
General repairs arnd maintenance
MarketlllE
Card charges
Event costs
209,344
Travel and sub515tence
Professlonal fees
Sundry expen5e5
Depreciation
562
272,331
272,331
191,298
209,344
400,642
Governance and support costs
Goveinance
2024 Governance
Total
2023
Total
COStS
¢osts
Independent examiner'5 fee
Accovntancy fees
Telephone. stationery an(1 office
Subscrlptlons
Internet
1,000
3,535
2,289
1,242
4,720
1,000
3,535
2,289
1,242
4,720
1,000
3.953
741
595
3,833
1,000
3,953
741
595
3,833
12.786
12,786
10,122
10.122
Net incomlnE resources for the year
2024
2023
Net outgoing resourcc5 15 Stated aftci chaiElnE'.
Depreciation and Dther amovnts w¥llten olf tangible fixed assets
Independent examiTrer'5 remuneTation
Independent examiner'5 remuneiation from other work
562
1,0
3,535
2,063
1,000
3,953
Employees
The charity employed no staff during the year. There were no remuneration or other benefits for the year ended
31 October 202412023.. £Nill paid to the Trustees.
Mo trustee expenses have been incuired duiing the year.
Taxatlon
All ol the charily's income is applied for chaiitable purpose5 and therefore the tharlty Is Èxempt from torptsratiors
tax.
Page 13

STEAMSHIP SHIELDHALL CHARITY
Notes to the flnanclal statements
for the perlod ended 31" October 2024
io.
Intangible fixed assets
Webslte
Total
Cost
At l November 2023
Additions
Disposals
8,250
8,250
At 31 Oclober 2024
8,250
8,250
Depreciation
At l November 2023
Charge for the year
On di5P05als
7,688
562
7,688
562
At 31 October 2024
8,250
8,250
Net book values
At 31 October 2024
At 31 Oclobei 2023
562
562
11. Tanglble flxed assets
Saloon Equlpment
Total
C05t
At l November 2023
Additions
DSsposals
367
9,361
9,728
13671
19,3611 19.7281
At 31 OctobeT 2024
Depreclatlon
At l November 2023
Charge for the year
On disposals
367
9,361
9,728
13671
19,3611 19,7281
At 31 October 2024
Net book values
At 31 October 2024
At 31 October 2023
12. Investments
2024
2023
AI c05t
ICKJ
loo
Page 14

STEAMSHIP SHIELDHALL CHARITY
Notes to the financial statements
for the perlod ended 31" October 2024
Thè investment is the entlre Issued share capital of the following UK registered company, transferred to the
Steamship Shieldhall Charity from The Solent Steam Packet Limited on 12, April 2021..
Reserves
Reserves
Company number
Share capltal
2024
2023
Shieldhall Trading Llmiled
05664230
loo
29.056
29.386
2024
2023
Summary of tradlng results..
Turnover
Expenditure
Net Ideficitllsurplus for the year
77.357
177,6871
13301
80,232
178,5751
1,657
13. Stock
2024
2023
Fuel and oll
Pèint and consumables
io,ooo
4,738
18,620
8.450
14,738
27,070
14. Debtors
2024
2023
PiepaymÈnts
Other debtor5
18,006
4.995
15,382
6,738
23,001
22,120
15. Creditors: amounts falllng due wlthin one year
2024
2023
Accruals
Other credltors
Amounts owing to connected companie5
5,143
6,419
25,065
3,250
25,607
36,627
28.857
16.
Net assets between funds
Unrestrlcted Restrlcted
funds
funds
Total
2024
Investments
loo
loo
Current assets
256,648
136,6271
265,648
136,6271
220,121
9,000
229,121
Page IS

STEAMSHIP SHIELDHALL CHARITY
Notes to the financl31 statements
for the period ended 31" October 2024
Unrestrlcted Restricted
funds
funds
Total
2023
Inlangible fixed assets
Investments
Curient assets
562
562
loo
loo
232,246
128,8571
9,000
241.246
128,8571
204,051
9,00
213,051
17.
Unrestrlcted funds
At l November
2023
Incomlng
re50urce5
Outgolng
re50uice5
At 31 Octijber
2024
Transfers
Unrestricted fund5
Drydock deslgÈ)ated funrls
54,051
150,000
313,729
1230,5781 167,0811
167,0811
67,081
70,121
150.000
204,051
313,729
1297,6591
220,121
At l November
2022
lrt¢omlng
re50urce5
Outgolng
resources
At 31 October
2023
Transfers
Unre5trlcted funds
Orydock designated lunds
313,880
281,986
1212,5211 1329,2941
150.000
54,051
150,000
313,880
281,986
1212,5211 1179,2941
204,051
18.
Restricted funds
At l November Incomlng
2023 resources
OutgolnE
resources
At 31 October
2024
Transfers
Cabln relurblshment fund
9,000
9,000
9.000
9,0(X>
At l November Incoming
2022 resources
Outgoing
resources
At 31 October
2023
Transfers
Drydock fund
Cabin refurbishment fund
Ladie5 Tollets fund
Bridge Electrics fund
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
Purposes of restricted funds
The restricted lund5, det3ilÈd above, are those which tan trnly be used for a partlcular rÈstrlcted purpose Wlthin
the rules of the society. Reslrictions aiise when 5peciÉied by a donor, 5ponsoT, the conditions of a grant award, or
when raised a5 the result of a spe¢ifi¢ fundraising app@al for example, towards the cost of dry dock.
Page 16

STEAMSHIP SHIELDHALL CHARITY
Notes to the financlal ststements
for the period ended 31" October 2024
Cabln Refurblshment
The programme to Improve onboard accommodation for the crew and young people participating In training
courses wa5 Put on hold in 21-22. £9,ocX) ha5 been cariied forward lo 2024-25 when it 15 expected the
refurbishment work will ¢tsmmence.
19.
Related party transactions
There are no related party tiansactlons.
20.
ultlmate parent undertaklng
The ultimate controlling p&ft¥ are the Board of Trustees.
21. Financlal Instruments
The carrying amounts of the charity's financial instiuments are a5 follows..
2024
2023
Financial assets
Debt instruments measured at amortised cost..
other debtors Inote 141
4.995
6,738
4,995
6,738
Measured at amortlsed Cost
Other creditois Inote 151
- Amount owing to connected companie5 Inote 151
6,419
25,065
25,607
31,484
25,607
Page 17