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￿.hbL￿ai0.t.rl￿LQt￿k 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 Ree*ipt¥ 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 A*8•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 In￿stment A￿et¥
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 T14￿t
10

CHARITY COMMISSION
FOR ENGLANO AND WALES
BUCKLEIYS HARD SHIPYARD TRUST
1212373
Recei
tsand
ments accounts
CC16a
Forthe perfod
from
-Jan.2S
31-0￿25
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 co*s. 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 ¥Oft￿re w8uma¥
L ht, puwvr. he•tlng
W¢bSrte. ¢pm4n¥. buik18Tr1 Main￿naa[
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¥ tr*w*fjch
CMtloptknn•ll
Cumint valu•
Detalls
FuThJ to Whkh
*s¥•t bg
Curr•nt v•lu*
lon•1
Dgtalls
¢￿tI09t￿OnI1>
84 A$8•ts retalned lor the
charlty's own use
Fund to ¥•fft*h
IL*b
Jnount du•
Whsn du•
ionDI
Oetsilg
BS Liabilltie8
S¥Jnod by on• ef kn tr￿st88S 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[m￿Ne for the WeparatI￿ of the
basls of report accounts in ￿C￿danCe wilh the reqUir￿ents 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 cOmp￿ted my eX*n1nat￿. l ¢o)firn) that no m*rial 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 eXaminat￿n 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,
lrKIep￿nt examination of charity a￿o￿ts. 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