REGISTERED UK CHARITY NUMBER- 1212373 COMPANY REGISTRATION NUMBER- CE039302 BUCKLER'S HARD SHIPYARD TRUST REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
BUCKLER'S HARD SHIPYARD TRUST Charity Number 1212373 LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mary Montagu-scott lain Rawlinson Colin Cain Charlty number 1212373 Company number CE039302 Reg18tered offlce 75 Buckler's Hard Beaulieu Hampshire S042 7XB Independent Examlner Philip Johnson ACCA Banker8 Natwest Southampton City (H) Branch 68 Above Bar Street Southampton S014 7DS
BUCKLER'S HARD SHIPYARD TRUST Charity Number 1212373 CONTENTS Page Report of the Trustees Independent Examiners Report Receipts and Payments Accounts 10
BUCKLER'S HARD SHIPYARD TRUST Charity Number 1212373 REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present their report with the Receipts and Payments Accounts of the Charity for the yearended 31 December 2025. OBJECTIVES AND ACTIVITIES Objectlves and alms The Charity's objectives are to advance the education of the public in all aspects of the art, craft. history and heritage of shipbuilding and its associated traditional skills at Buckler's Hard in p8rticul8rthrough the provision of: Researching. teachingand demonstratingtechniques of heritage boatbuilding 8nd associated skills: Displaying and maintaining an archive or library of materials relating to heritage boatbuilding and the historyof Buckler's Hard; and The conservation and preservation ofthe ground floor of 75 Buckler's Hard and the slipway area. The Trust's activities are to deliver the objectives and vision through displays. talks, courses, exhibitions and other activities at Buckler'8 Hard, to encourage learning 8nd awareness through 811 forms of outreaching media Publlc beneflt The Trustees confirm thatthey h8ve complied with the duty in Section 17 of the Charities Act 2011. to have due regard to th8 public benefit guidance published by the Charity Commission when reviewing the Trust's aims and objectives. and in planning future activities. The Annual Report detaits the aims and objectives of the Trust. the strategies adopted to achieve thosé sims snd objectives and revièws the significant getiviti89 undertaken during the year. STRATEGIC REPORT Est8bllshmerrt, achlevements. actlvlty BHSTwas registered with the Charity Commission on 3 March 2025 and has had a busy year setting up its establishment, administration. brand, poliGies, communications. media. finance, FT, and the lease of the cottage office at75 Buckler's Hard and agreement with Beaulieu Enterprises Ltd for access rights. There are three foundingtrustees and an Advisory Board for projects and no employ&es. As the year progressed, more volunteers joined to aid in Projects. We started collecting donated artefacts {toois and books) relating to our charitable objects.
BUCKLER'S HARD SHIPYARD TRUST Charity Number 1212373 We created an active growing Facebook page (342 followers. 88.256 views). Instagram (386 followers 47.300 Viev) and website w1Y.hbLai0.t.rlLQtk and 8 growing mailing and volunteer list. We had press coverage on the Charity's founding, then for the summer slipway dig. we had national, international. BBC. IIV news, and we were included in the BBC's'Digging for Britain, in January 2026. We held a series of well attended monthlytalks on maritime heritagefrom the autumn of 2025 with all profits going to the Charity. Atradingsubsidiary, BHSTTrading Limited (company registration numb6r 169158991 was registered on 17 Decemberforfuture use, and is currentlydormant. ACTIVITY- Projects We worked to establish Projects relating to our charitable objects: Agamemnon Wreck Research Archaeology Ship Sculpture development Slipway 2 Dig Archaeology Agamemnon Wreck Resoarch Archaeology This is the continuation of the previous work done by the partnership of University of Southampton {"UoS"l. Maritime ArchaeologyTrust ("MAT"I, Buckler's Hard and others in Urugu8yto record the condition ofthewreck ofthe Buckler's Hard ship HMSAg8memnon 1781. In November2025 BHSTTrustee and Chair, Mary Montagu-scott and Garry Momber (Director of Maritime Archaeology Trust) carried out a 6 day visit to check again on the HMS Agamemnon wreck site. talk with key partners, Uruguayan Navy, UK defence Attache, Uruguayan University andAcademic partners, Naval Museum and gave a talk at the Town council offices. This work is on-going. Shlp Sculpture development This is the Long term plan to explore with others the possibillty of creating a full scale 'sculpture' based on the original plans of HMS Agamemnon to be built in the original slipwaywhere she was built and launched in 1781. Sllpway 2 DigArchaeology The BHST successfully applied for a 10-year license from the MMO Imaritime Managementorganisation) for archaeologyon allthe slipway intertidalareas l Subject to conditions). Permission for terrestrial archaeology was given by the Beaulieu Estate as landlord. In July-August 2025 BHST led 8 3-week Slipway Archaeology Project to digthe upper area of the No 28lipw8yfromthe MHWSareatothe upperpart of the rem8iningstructure. This
BUCKLER'S HARD SHIPYARD TRUST Charity Number 1212373 was led in partnership with the University of Southampton. Maritime Archaeology Trust, the New Forest National ParkAuthorityArchaeologistand a large volunteerteam. We had over 55 volunteers participate in the dig including students. adults with learning difficulties. local residents and others. This was watched by many visitors to the viLLage and vrfe did a daily free talk and public engagement with a'Finds Quiz. of objects found. The original groundway timbers were revealed intact and a huge amount of 'finds' were dug up, sorted and recorded and samples of the timber taken for analysis. The project created a large surge in interest of visttors and media. resulting in national media coverage including BBC and ITV new. Much was learnt from the dig about the historic shipyard and slipways. A free exhibition opened on the dig in the Shipwrights Gallery on 4 December 2025 with volL6nteer 8SSlStance from students. FINANCIAL REVIEW Introductlon The Trust has had 8 posilive first period since its establishment in March 2025, and has successfully raised initial funding, and has maintained administrative costs at or below budget. The trust h8s been able to initiate its activities and h8s commenced key project work in th8 period under review. Based on a founding donation of £78,000 the Trust is in a stsble financial position having secured funding more than its anticipated Project costs for the year, and its administrative costs (which are currently budgeted at around £9.000 a yearl. The Trust raised a tot81 of £83.458. invested £12.341 in its Projects {described further above} and incurred administrative costs in the 10 months since establishment of £6,261, which ncluded some one-off set up costs. The funding 81ready raised will be applied toward the Trust's Projects and administrative costs overthe nexttwolthree years. enablingthe Trustto gain recognition and awareness of the work being c8rried out in pursuit of its objects, and. in turn, to 8SSlSt in the continued t8sk of exploring newfundr8isingopportunities. Prlnclpalfundlng sources The principal funding sources forthe charity have been the founding donation referred to above. together with donations from private individuals and foundations based close to Buckler's Hard and visitors to Buckler's Hard making small donations to the Trust while visiting the archaeology site or displayslexhibitions and attending talks. The Trustees intend to expand the funding sources of the Trust during the second year of operations. We have registered with HMRC for Gift Aid. CAF, a local lottery. and have donations through GOODBOX digital giving.
BUCKLER'S HARD SHIPYARDTRusr Charity Number 1212373 Investment Pollcy Under its Constitution, the Twst has the powerto deposit or invest funds. In support of the Reserves Policy (below) the Trustees intend to place surplus funds in an interest- bearing account with the intention of achieving 8 rate of interest on excess funds which matches or exceeds inflation. Reserves policy The Trustees have reviewed the charity's need for resenies in line with the guidance Issued by the Charity Commission. The Trustees are intending to introduce a Reserves Policy during its second year of operations. which is expected to propose maintaining a reserve of 12 months of currentadministr8tivecosts- likelyto be inthe region of£10,000. FUTURE PLANS The Trustees have agreed a budget for 2026 which allows for on-going administration costs and the continuation of the activities comprisingthe Trust's Projects. We plantodo- Fundraisingtalks each month on Maritime Heritage themes, on and offsite. A5-d8y Carpentrywood Craft course making Shipyard Infrastructure. A wartime Weekend 2-day event A traditional ship and boatbuilding craft day 3 exhibitions in the Shipwright's Gallery- The Di& Beaulieu River at W8r, Launch of the Ship Sculpture project. A 3-week slipway dig with Maritime Archaeology Trust and volunteers Planningforship Sculpture Project Care ol our collections, volunteer recruitment and training. Building our reputation in expertise, education and public engagement. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document The organisation is a Charitable Incorporated Organisation (CIO) registered on 3 March 2025. It was 8Stablishad under a foundation model constitution which establishes the objects and powers of the charitable organisation and is governed bythese articles. Recrultment and appolntment of newtrustees As set out in the constitution. trustees shall consist of not less than three. and not more than nine members. We will be lookingto appoint additionaltrustees in the next year. Apart from the first charity trustees, every appointed trustee must be appointed for a term of threeyears by a resolution passed at 8 properlyconvened meetingof the charity trustees.
BUCKLER'S HARD SHIPYARD TRUST Charity Number 1212373 In selecting individuals for appointment as appointed charity trustees. the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Organlsatlonalstructure The trustee board meets quarterly, with monthly update meetings and other meetings as required. There is an advisory board for projects. made up of subject experts. Related partles BHST Trading Limited (company registration number 16915899 was registered on 17 December 2025 and 18 currentlydormant. Alsk management The Board of Trustees has a set policy for rlsk management. BHST is committed to maintaining a strong risk management framework. The aim is to ensure that the charity makes every effort to manage risk appropriately by maximising potential opportunities whilst minimisingthe adverse effects of risks. These risks are periodically reviewed to ensure thatthey meetthe changing needs of the Charity. This Report of the Trustees was approved by the Board on 1 March 2026 Mary Montagu-scott Trustee For and on behalf of Bu¢kler'$ Hard Shlpyard Trust
BUCKLER'S HARD SHIPYARD TRUST Charity Number 1212373 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BUCKLER'S HARD SHIPYARD TRusr Responsibilities and basis of report I report to the trustees on my examination of the accounts of the above charity {-the Trust") for the year ended 31 December 2025. As the Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements ofthe Charities Act 2011 {"the 2011 Act"). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charitycommission under Section 14515}(bl of the 2011 Act. Independent examlner's statement l Can conflrm that l am qualified to undertake the examination because l am 8 memberof the Association of Chartered Certified Accountants, which is one ofthe listed bodies. I have completed my examination. I confirm that no material matter8 hav8 come to my attention in connectionwiththe examinationwhich gives me cause to believethat in. any material re8pect: accounting records were not kept in accordance with Section 130 ofthe Act; or the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable 8 proper understanding ofthe accounts to be reached. Philip Johnson ACCA Dated: 1 March 2026
BUCKLER'S HARD SHIPYARD TRUST Charity Number 1212373 RECEIPTSAND PAYMENTS ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2025 SECTION A Reeipt¥ ond PaJThents Y•arto 31 December 2025 (to th• noorest £) Ro#rl¢tod funds Endowm•ftt lunds Total funds lun¢lJ Al R•c•lpt8 Donations Events Sub tot•1 IOr035 Income) A2 Assw and Investment sales 81,430 1.028 81,430 1,028 82.458 Sub total TOTAL RECEIPTS 82,4SB A3 P8yments Proieet CO8t5- Agomemnon Wreck R8s8ar¢h Prolact costs . Archaeolo Project cost5- Shlp sculpture Project costs- Slipway 2 411 2,763 i.S90 7.577 411 2.763 1,S90 7,S77 Advertisin 8roadband Fundraisin Insurancfj IT software and consum8bl¢$ ht, power heatin Domains. wefjsite build and mainienance Sub total A4 A8•1 ond Investment purchases 8nd m8rketln 1.824 235 276 2.059 290 577 1.000 18,6Q2 1.824 235 276 2.059 290 577 1,000 18,602 costs TOTAL PAYMENTS 18.602 18,802 Netof rn¢•lpt5/(payments) A5 Transfers betwafjn funds 63,856 63.8S6 A6 Cash fund5 last year end Co8h fundgthls year •nd SÉCTION B Statemmt ofAssets and Liabllltles al the end of the Perlod 63.856 B1 Cashlunds-C8sh In bank TOTAL CASH FUNDS B2 Other Monet8ry Asset¥ B3 Instment Aet¥ B4A38et$ rotsined forthè Charlty'$ own uso B5 Liabilities 63.856 Slgngd on 1 M8rch 2026 . Mary Montagu-scott lain Rawlinson For and on ttalI oftho Trustee8 of Buckler's Hard Shipyard T14t 10
CHARITY COMMISSION FOR ENGLANO AND WALES BUCKLEIYS HARD SHIPYARD TRUST 1212373 Recei tsand ments accounts CC16a Forthe perfod from -Jan.2S 31-025 To Section A Receipts and payments Unrnstrictsd lund¥ Re8tricted funds Endowmènt fun Totsl funds Last year toth• DMr¢¥t£ tolh• n•aY8•t£ tothD n•ar8st£ to thg ne8M8t£ A1 R•e•l t• Donatyon8 Events 81.4>) 1,Q2 81,430 1,028 Sub total{Gmss income forAR) A2 A88et and InvMlmfrnt •alM, IM• tobl•l. 82.458 Sub total 82.45B A3 Pa m•nts Project cos. Agamemnon Wffjth Ra5ear< Prolaci coat$. Ar¢hO0010 Project coyts- Shlp scul Pro eci co$is- siith4y 2 411 2,763 1.J¥YJ TATI 411 2.783 1.690 7.$77 Advarti$in Broadband and motk•b 1.824 1,824 235 278 2,059 276 1059 Insurance IT ¥Oftre w8uma¥ L ht, puwvr. he•tlng W¢bSrte. ¢pm4n¥. buik18Tr1 Mainnaa[ OT7 577 1,000 18.602 Sub total 18.602 A4 As$•t and Invtrltment purchas. ¥ee table Sub lotal 18.602 18,602 Net of receipts/(p8ymentsJ A5 TTrn¥fer3 between funds A6 Cash funds last y•ar ènd Cash funds thls year end 63.356 63,856 ££££ 63,856 CCXX R18ccouTrts ISSI
Section B Statement of assets and liabilities at the end of the period Unrestrlcted Restricted tunds funds to D•are8t£ to tr#re5t£ Endowment funds to thÈaTest E LleT8riS 81 Cash funds Cth in bgnk Total cash funds 63.8S6 Unrestrlctsd R••tricted fund funds to th8ar•£ Endowment fund• to £ Detal Fun¥ trwfjch CMtloptknn•ll Cumint valu• Detalls FuThJ to Whkh s¥•t bg Curr•nt v•lu lon•1 Dgtalls ¢tI09tOnI1> 84 A$8•ts retalned lor the charlty's own use Fund to ¥•ffth ILb Jnount du• Whsn du• ionDI Oetsilg BS Liabilltie8 S¥Jnod by on• ef kn trst88S on behalfof 811 the tru8tee8 S¥Jnature Print N8mè Date of roval MARY MONTAGU.SCOTT LAIN RAWLINSON i.s.16 CCXX R2 accounts ISSI OJ2026
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to th trust$1 m•mbors of BUCKLER'S HARD SHIPYARD TRUST On accounts for the year ended 31 DECEMBER 2025 Charity no (If ary) 1212373 I report to the trustees (m my examination (rf the accounts of ts above charity (Ihe Tru8f) for the yèar ended 31 Decamber 2025 Rosponslbllltlos and A8 the Tnth ofthe Trust. you we reS[mNe for the WeparatI of the basls of report accounts in CdanCe wilh the reqUirents of the Ch8rities Act 2011 I rerxirt In re¥ct of my examinallon of the Trust's accounts carried out under seclion 145 of the 2011 Act and in carying out my examination, I have followed the applicable Direth'ons given by the Chanty Commission under section 145(5){b) of the Ad. Indepndent I have cOmpted my eXn1nat. l ¢o)firn) that no mrial matters have oxamlnerfs Statement come to my attention (other than that disclosed below ") in ¢onna¢t+on with the examinatN)n whith gNes me cause ta believe that in, any material a¢¢ountlNJ records were not kept in ac(Thlance wlth 8ectlon 130 of the A(# I have no concerns arKI have come acsoss no other matters Fn connection with the eXaminatn to which attents'on should be drawn in order to enable a oper understandiThJ of the accounts to b8 reach8d. . Please delete the in the brackets rfthey not apply. 70& FThihp Johnson Relevant professlonal qualificalion(s) or body (rfany): ACCA Addrou: 24 Merdon Avenu8 Chandlers Ford Easfjeoh, S053 1EJ IER October 2018
Section B Disclosure Onty Gomplete rf the examiner needs to highlight matters of concem {see CC32, lrKIepnt examination of charity aots. directiorts and guidance for examiner5). Give here brièf d•talls of any Items that tho examiner wishes to di•clos•. There are none. IER October 2018