The Chatham Historic Dockyard Trust Trustees, Report and Financial Statements for the year ended 31 March 2025 Company number OIVA)41( Regislered Charity nuo)ber. 292101 llllMIIIIII *AEHIt7ETN• 112r2025 COMPANIES HOUSE
Vision The most complete and E5t-preserved DLKkyard of the Age of Sail will increase its impact through innovab.ve reuses of ourheritsge assets making itever more relevant all wrs. provTrdirtg excellentexperiences for all and inspirational learning ftsr the widest audiences. Our Strategic Objectives Presetvatio To set the ihmark in mainiaining ex£eUentt in the sympathetic Preservation and use ofThe HiSriC D(kyard, its buildings. ships and collection5 through diverse re-use. Excel]ence in management of the heritsge environment and building use will remain essential in pre5erviTr8 the unÉqu¢ award-wirmin& historic tharacter of the site. To engage the widest audiences in learning about the siwficantt and role of the fOrnr Royal Dockyard at Chatham and its people in supporting the Royal Navy from sail to steam to nuclear power overa 4(Xkyear Fri(rtl. Utilising oTrsite heritsge a$5ets a5 the foundation for an indu5ty leadin8 museum and heritsge site. we will maxTmise our reach and capaoty whilst maintsAning quaIity in delivering inspirational programmes and eng4n8 activities which will incorp0rd the trRstuse of digitsl tectlogY and outreach acts"vitie& Exee]Jence Providing excellence in everything we do. we will deliver an unrnatrhed, inspirational and memorable experience for all users ofThe Historic Dockyard- whether visitors. lenants. residents orstudents- thatexceed th¢xrexpettations and maintsins a balanced ecoIogy of In setting and pursuing these oiyfictives the T1¢$ have had regard to the Tharity Commission's guidance on public benefit. The Chatham Historic Dockyard Trust
Contents Pa8e Patrons. Trustees. senior managers and adviwr5 Trustees. annual Teport (incorporating the report) Statementof respon5ibititie5 of the Tntstees 27 Independentauditorf$ rep)rt 28-31 Cohwjlidated ststement of financial activities 32-33 Consolidated and Trust baldnce sheets Consolidated slaternenl of flows 36 Notes to the financial slalernents 37-65 The Chathèm Historic Dockyard Trust
Patron HM The King WKe Patrons al 31 march Admirat Sir Ian &ffettKCB The Rt. Hon S]"rfirnothy SairLsbury KtPC Lord.14eutenantof KeTrtTheiady Col8va Trusttt$ and Pd Members Admiral SirTrevorS)ar KCB. OBE. DL lthèinnan) Professor Robert PJlison CBE. DL S]"T lan Andrews CBE, TD (Retired 241c8/4> Mr Williarn A Cortrtt MT Paul D Hudson OBE Mr Paul lacksoTh OBE Mr Anthony Dl¢)nes (Appointsd 2)I11r141 Dame Diare Lees CBE (Appoinled 23105120241 Cllr Harinder Mahil (Appointed 23105124) Misssarah E Roots Mr Duncan Wi]son CBE MT5 DeirdTe Wel]s OBE Secretary Mr Christopher Langridge IRetired 31/IB/W25) iss Jo Kesty (Appointrd 01104120251 Company mernbeTS TheTruslees and Board Memtws las above) The RL Hon. Thesecretary ofSts for DefenL The Rt Hon. The5ecretsry ofstste for Diytal, Culwr¢ Media and Sport Mrlohn SpenceOBE DL IDeceased 26 January S)251 Kry Managethenl Mr Richard Mor51ey Mr Paul Bamard Mrs Lynnette Crnp Mrlon#than Arthur Ms Olivia Horner Mrsean Rodwell tkputy Chief Executtve Dirertor ofCommunicatio & PubltcEnygernent "Tertor ofE5tsth5 & Preservation Dire£toroE ComMetal & Operations th"Te(torof FInae & Resource5 Attdilor Atets Audit SETVites First Floor. River House l Maidstone Road 5idcup Ken¢ DA14 5RH Barci3y5 Bank PLC 13 Fremlin Walk Maidstone Kent ME14 1 Solicitors Cripp5 LLP 22 Mounl Ephraim Tunbridge Wells KentTN4 8AS Reered Offirt IW Floor North Fit*d 881n8 House The HEstoYic Dkyard ME4 4TZ Tel.. Ol(x34 823Wlwww.tWrKkyaTd.co.uk l The Chatham HistorK Dockyard Trust
The Trust gratefully acknowledges the financtal and other SUPPDrt during 2024125 of its Dockyard Arnbassador5. and of its many stakeholders and funders. so essential to its Successful opeTats"on. Major tklnors and Supportsts during J)24125 lin alphabetical order): Art5 Council England The Art Fund The Garfield Weston Found•tion Marsh Christian Trust National Lottery Heritage Fund Sir Charle5 Je55el CharitableTru5t The V&A Purchase Grant Fwid Ward &curity The Woltson Foundation We would like to thank all of the individuals and organisations that have supported the HTStoric D(*kyard through this year. including those who have geneTously left fts in the fonn of a legacy. Their support is hu8ely appreciated and make5 a real drfference to the valuable work we do. In additiorn we would like to thank in partiaxlar. Department for Di8itsL Culttue. Media & Sport and Medway cour11 for their continued valuable support over many years. The Chatham HsStOTiC Dockyard Tn1 is a Te8i5tered charity (Ctharity No. 292101) and registsred company Icompèny No. 018041{1. Gfjts and donats"on5 nde by UK tsxpayeTS under aid Substantially irfftase thevalue ofdonations made. The Tntst is a Fully Accredited Museum. 2 The Chatham Historic Dockyard Trust
Trustees, annual report incorporating the strategic report For the year ended 31 Marth 2025 airrnan's IntTodu¢tion As Chainnan of Thatham Historic thxkyard Tnts¢ l am pleased to present the Annual Report for 2(r24125. This year has been one of Tefle£tioTh lebration and adaplation. Marth marked 40 yeays sIe the closure of the Royal D(kyard atCh8tham. a milestone thatoffeJEd the opportunity to ILK)k back on all that has achieved and to chart an arnbilious coutse for the fu1. In the four decodes stnce closure. the D(kyaTd has trart$forn from a sythiY)l of loss for Medway into a thrivu) mixed-use heritage estate cornbining Preservation with intK>vation a[ learning. thr year-long Dockyard40 proyamme remembered the devaskntsn8 impart of closu. celebratrd the pro8Tess made by thÈ Trust, and tnvited everyone in our cornmunities totonTt with the Dockyard'55tory now and rn thE futtLre. We are also greatty saddened by the passing of two of the Try9 founding Tntslees, Mr loht) Spence and Sir Christopher Wates: As f¢)undin8 Truses, b)th played a vitsl rolein thE e5tsblithmI0ff theTntand its Subsequent success over the last four decades. report covers the period (rom l April 2024 b) 3J Marth Visitation We welcomed I51 visitoys this year. • 6% I[8$e on 21124 deswte the wider &onomic pressures affecting the sector. New exhibitiorls, engabng family progratnmtng and well-targd markettng helped keep the L>xkyard front of mind. Ourcall the Midwi(¢ Official tmtion tours a1 seasoJ¥I events remained key dnws. bringtiis in iy)th rtew •nd Tetumin8 Visjtors. We tnaintsined our committnent to higqualIty. forn] learnin& eTr8ang more than 1ZW youn8 people. This included puptls from high pupil premium schoob in Medway through our Dockyard Discoverers stheme. I am proud lo note that Hisknric D(kyard was OTxe agatn Tecosnised with the Sandft)rd Award for Herila8e Education, a refiection of the quality and itnpact of our ledrning offer. Dkyardl0ftd publie en8asemertt The D<kyard40 PTO8ramtne bTOU8hti>urslDry to Jife through a mix ofexhibitiorL% events, community outreach and high-proftle PR rampai8n that secured Dational rnedia coverage. Highlights in¢ludtd the SWtscular Ghost Ship5 production by our parts)ers at Icon Theatre and the rtturn of Medway'5 Arn Forces Day to the tkKkyard, where IOIKK) free tickets were offered to local residents. With a stron8 focu5 on rKonrecting wilh our community during this aTthiversary year. it was espe(ially encouraging to see that 52% of new ticket purchases came from local visitors who had not been to the DrKkyard in at least the last two years. CoUectiom exhibitiom and pmgrammi We expanded our museum wllettion with several imporfant acqui8iliol and Fryan the phased relocation lo a r. purpos?built collertion store that will improve a¢ceg5 and k•Dg-lem) care. Oui kmporary exhibition progrartune included RNLJ2CiI, created in partnetslu"p with the RNU to mark thtir bi¢ennary,and Ralph Stea<fman'. INKltn& the first major UK exhibition i-. nearly a decade from reThowned Kent-based arbsi. These ex]llbitiOJLS attractsd a brrid mix of visitors and played a kty rok in supp)rtitigour wider tearnin8 and public engagementobFrbves. Pcwrvalio Our-Pre5ervation throu8h Reuse- approach Yematns ¢traI to ourwoTk with essential works deliVed across the80- cre estste. A major rnL]e5tone was the startof toratIon work5 on Commissnerf$ Ho¥se. initially made possible by £2.3 million 8rant from tht Departrnent for Culbjre. Media and Sporfs Museurn and fkvelopment Fund 3 The Thatharn HistOTK t%xkyan1 Trnst
Trustees, annual report incorporating the strategic report (continued) For the year•)ded 31 Marth 2025 IMENDI. Plannin8 a]so progressed on tkking ststiO OUT partnership proFrt with the University of Kent and Medway CounciL which will breathe new life into the Police Section House. Commercial aDd finaNiai perfOrZnae Ollr commercial tenanted estate rematned stron& geting over f3 million in Sustsinable income. Visitor trading dellvered a net profit of a53k. with hospiklity Sal at £231k. Rope sales and filming revenue remained healthy. and MÈssion Thristma5 agaÉn proved a popular seasonal offerRn& Excellence and re¢o8Uitlon We were proud to earn VisitEngland's Gjld Award and a record 95% score In our VAQAS assessment. We also received the Beautiful South Gold Award for Accessible and Inclusive Tourism and the TripadvisorTravellers' Choice Award for the 14th consecutive yeaT. Lookin8 ahead Infomd by new audience research and broad stskeholder engagenn¢ we are preparin8 to launch our new 10-Year Strategy in July 2025. This strategy sets out a clear path forwaTd. focused on three priorities: putting audiences at the heart of our work, pr£servin8 oui unique heritsge through reuse. and buiIding long-tem) resilien. TOgettr, se will support our ambition to grow as a world-leading rnaritime heriiage destinab"on. On Fdklf of the Board. I would like to thank our staff. voluntreT¥. partners and supporters for their continued commitment As we look aF*ad. we do so with pride in what we have a¢"eVed and a stron8 sertse of purpose for the fUre. Admiral SIrTor5>ar KCB OBE DL Chairman 4 The autham Historic Dockyard Trust
Trustees. annual report incorporating the strategic report (continued) For the year ended 31 Marth S)25 Strate (Re - Vision & Ob'ertives Vision The most complete and best-pre5eTved DLKkyard of the Age of Sail will increase its impact through inmovative reu5e5 of our heritage assets making itever rn0 relevantto all usets, providingexcellent experiences forall and inspirational learning for the widest audiences. Our Core Charitable ObjtttKve8 The preserv¥liofft ofThe Historic Lknkyard £tha the m05t complete 18th Century dockyord in the world The education of public in its histortcaL aTclu"tectural and ardmeological importan. Our 5tr•tegi¢ Obje<tlveg To set the benchmark in mainlaining excelle in the sympathetic preserv#tion ¥nd use of The Historic Dockyard. its buildings. $hips and collectioms through diverse Teuse. Excellence in management of the heritage environment and building use will remain essential in preserving the unique, award-winnin& historic draeo the sile. To engage the widest audience5 in learning about the SI]ficance and role of the fOrnr Royal Dockyard atChathaTn and its Fople in supporting the Royal Nowy from sail to steam nuclear power over a 4(fj-year period. Utilising on•$i herilage a55ets as the foundation for an Indty Jeading museum and heritage sile. we will maximise our reach and capacity whilst maintsining quality in delivering irnspirational programmes and enga8Lng acttvities which will it)corporale the FRst w of digitsl tecbnolo8y ond outreKh ad1vit. Exceuence Providins excellthKe in everything we do. we will deliver an unmatched, inspiratitsnal and mernorable experience for all users of The Historic Dockyard- wklether visitors. tenants. residents or5dents- that exceed their expectations and maintsins a balanced ecology of uses. A<hievin the Learnin Historically. we have delivered our Learning oiryective5 by OFTrling our ships. collections. open spaces. museums, gallerie5. and public pro8rammes as a visitOT attraction. Visitation In 2024115. we welrned 151A53 visitors to the Historic thxkyaTd. representin8 an ityaSe of c.6% from 2023124 levels. Whilst this remains below ixjth our Iong-tern) ambition and our original target for the financial year. the operational context from across the vi5itoreconomy in the UK evidenced that the sectOT widely expeiienced a drop of Eetween 10- 15% in visitstion compared tr¥ JID. The wider sedor¥l PTessures were widety attributed to ongoing economic pressures, increased overseas travel. and the impact of mapr internatsl events $uch as Pari$ 2024 OlympÈcs, especially Ven the ease of travel from Kentand Londorn The budget had assumed 0 6.8% increase in visitor numEErs compared to J)21124. based on trends obsetved at the Dkyard and within the wider tourism sector. Although April 224 Saw Telaiively stsong perfornmnce, the following month5 experienced a decline in both visitor numEers and admissiors income. 5 The Chatham HI510r Dkyard Trnst
Trustees. annual report incorporating the strateC report (continued) For the year ended 31 March xr Initial analysis identih.ed theshortfall wasprimartty driven ty rndtvidual trketsales Iwalk-upand onltnel, whileother incorne sources including arnin& Group Sab. and Call the Midwtte Offictal EKr4tion tOUTS wewe Frforming at OT above exFctsbotts. This prornpted an early reforetsstaI a 5hiftin$tratEgy. which Illd.. Tar8ed di&tsl advertising kn promoiECOVÈ productand irKTease web traff Price pyomotion Via a-Kids Go Free" Campaign duTin8 the $ix-week summer holiday. destgrd to mait)tsin yield without applying a bFanketdi%(ounl Enhanted summer programming Supled by a dedicated cornm¥niEations campaign Despilt these irtryentions, visitor num1$ notTe¥th anb(iptÈd levels. kadin8 the Ex&utive leam to reforecast individual visitor performantt for the ren%1inderof theyeai. Jn 2024, we marked 40 years since the closure of Chatham Dttkyard wtth Do¢kyaid40. a 12.mortth pro8Tamme .desiwd to rememberthe devaststing imparttheclosure ofthe Dkyard had on Medway, ¢tlebrate theachievements of Chatham Hi5tort( IkKkyard Trusl in praer¥ing the fOrnr koyal IkKkyard and Yeconnect new aftd e¥ists)g audiences with OurSry. Pro8ramme hishlisht MaYketth8•nd Di8iialEw#w A press Campai reached over 2 mi]lion people. including fear¢S The TiTrJes. BBCNew5 On&'pw. BBC South 51 Todry O&rninuie se8]TnE1. ITVhlerrdion. and Keni MessengtT IP8£ suppletnentl. Diwtsl en8a8e]nent reached 1.2 million users Sup ty ¥0 inrartivetimEline feabjrtng archival marial and Fr$oTl accounts. A Souvenir edition of Pcri5ry (the ofir(ial newSPaPEr of HM fAKkyard Chatham from 1g¥O to 1431. The 6- page paper shared 5tOFies Irorn today's Dockyard a1ongsidegLStconIrlbutIons fTomslaff ind memones from the very first Dockyard Visir. A 40% di5counton annual tickets for Medway nsideThts. commttlty Events Exhibitions Workshops al the Hi8totit D£kyatd "40."40- 40 YeaTS of RedeDelopmeni". a photO8TrphicexhibTtion featuring 40~Edoand afierf images tsptUd the DLKkyard's trarLsforn)ation since 1984. 'DoctyoTdMntfftJ5 tour~. created for Heritsgeopen thys.thisgkminute walking led by forn)erD(kyard pprentitts, offered a perspective on ¢k tKxkyird thTOU8h th eyes of those who worked thEre. Partnering with Medway Archives. weknsted Remtni$&sslons themed arouDd kyard closure. These sessions provided an opportunity conneu with fornr thxkyard workersand appTrntIS. includingsome of OUTown volunteer5 whose stories have not teft prevtousty capwred. -In CoJttrsotion Ivith..." tslks series- a new monthtyevening PTosrdmme 5FK>tiightEd key figure5 linked to the Tnjsvs developOnI and comrnenraled anniversaries tike D.tknY. CAVAUERW, athd the Three Cruisern, 110th al1Versary. conlty oUtrex Evenl8 & Festivals Weattended a broad ran8eofcommthiity outreacheventssiwknnrfyitKrtasingouTvtsibility iyond the[kYard'S walls. includin& ckyArd40.. Trrfnsforni-. in collaboration with Medway 00] of Arts Foundabon students. we created ¥ portrait photography exhJ"bitiOll celebratins the people whoshad the Dockyard'5 transfornubon. It toured three venue5 includiThg the Halpern Galjery and Mtd K•itCol LiltrAry- . this project gave visito[5 the tharKe to hear autheThtsc sb)ries from fOrnr thxkyard workers and apprentices. The Htsman librnry debAknI at Arnd FoTce5 Day and grew in PDpulartty throughout the year. 6 The Chatham Htstotic Dockyard Trust
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March l)25 "AnchorsAweixh"_ Creative collaboration with Gillingham-based CIC Unravel & Unwind this community y8m-ix)mbing proiectstyw over X)p•rtiopantscontribute over 3Th)hovrsto producecrocheted anchors, ships, themed post box toppers and a kn"Ltted tribute for the aconic Thomas WaBhorn 5tstue at Chatham Ststion. It connected ¢ommunibes with Dockyard herits8e in a pléyfvl. inclusive way. "40 Ye4Ts IN the mAkin - this tourins exhibition show¢ased key moments in the Dockyard'5 journey. iTluding the key decisio that led to the c105ure of the D(xkyard and celebratin8 achievements from the Trusvs year history Care Home Outreach - as an eXtI0 of our Mobile Dckyard initiative, we developed new themed reminiscence se55ions for care homes featuring Anchor8 Aweish piece5 and 40.40 photography. The programme enged four<Te homes on a monthly basi& Beyond Medway. the Dockyard40 program[ reached ty glob¥l $lage through presentations ot industy conferences. including the A$)CIatiOn of IndeFendent MuseunLS {AIM). the As%Kiation of Cultural Enterprise5 {ACE). and the International Congress of Maritime Museums (ICMM).These speaking engagents provided an opportunity to share the Dockyard Story with industry peers while h2"ghb'ghiing the TrusV5 innovaiive operating model, of'pre5ervatitin through Teyse. honed over the past four dades. Signature events As part of our wxder major events programn, we hosted some additional activity Imked specifallY to our 40th arniiveTSary. These included.. Force5 Day- in partnew5hip with Medway Council. we h05ted Medway's off¥cial Force5 Day for the firsttime since 2(0). Offering10.¢7 free tickets. theeventfeatured mditary parade5, live musio and famity entertèinment. Ghost Ships - an extraoTdinary Production by the award•winning Icon Theatsp that Tled the htstory of Chatham Dockyard through explosive slorytellin8. Blending Hip Hop dance from Olivier Award winners Zfy)Nation.. The Kate Prince Company. Kathak from Amina Khayyam Dance Company. original Itve music. and the power of a ¢ommunity choir. GhostSkn"ps shared the untold stories of individuals who builtand sailed the ship5 of Chatham fknkyard. The production earned widespread critical acclaim. with glowing reviews from The Times, The Telegraph. and the Eveninsstsndard. tk.spite broader trends of declinin8 Visitor numbers. wesaw a 3% rtse iri visitors from ME postcodes. with 52% of ticket Purdser$ not having visited in the Previous two yeaws-a cle•T success in re-engaging I1 audiences. Museum and Colledions Thts year has seen si8nth.cant developments in the Museum and Collections leam. marked by excitin8 8CqUiSitions. infrastrUCre progres5, and forward planning foT our long-ierni vision foT the museum. We acquired a letter signed by King Charles 11 f1-16&S). purchased at auction. thd 18 (ktor 1667. the letter offers an insightinto the eventssurroundingthe Dutch Raid on Medway. Itis now oldestobFctin ourcollection. With generous 5UPPOrt from Art Fund and the V&A Art5 Counal Purchase Grant Fund. we secured "A of Chathom~. painttng attributed to Ramsay Richard Reina8le. This early 19th-century painting capture$ a view north across the River Medway from Jackson's Field, offerin8 an interesting visual record of the DcKkyard around 181X). To safeguard our growing colle£tioTh we are oJrrentTy undertaking a majoT relL*ation project of our Collections Store. ProTnpted by deteriorabngconditiotls in thecurrentfacility.conslruction ofa storewithin the FiilÈd RiggingHouse is now complete. the move will. 5lgniflcanY enhance storage condÈtions and acces5 and is PlaTed to take pla graduauy over the next two yeafts. We were also pleased fornlIy launch the Disability TrailbIazers tratl on 26 Pmber 2024. This tr&il is part ofCutatin8 for Change. an initiative hjnded ty National iA)ttery Herilase Fund and delivered in partheyship with AcCeThate and kleen Uth. providing opporlunities for D/deaf. disabled and neurodivergent people, to pursue curatorialcoreer in Museums. The'Disability Trailblazers. was researched and curated by Curatin8forChan8e Fellow Suchi Chattetriee. who worked with a voluntrerCtrProductionGroup to uncoverand sharedi5ability history connected to Chatham D(Kkyard and the Royal Navy. 7 The Chatham Historic DrKkyard Trust
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March Histori< Ships Our historic ships pro8ramme contintses to balance essentiaI conservabon with improved visitor experience. ensuring the long-tem care and Tnterpretation of the warship5 in our collection. Extensive works continued on HMSGANNET this year. irKluding the Poop Deck and Commanderfs Cabin. Repairs to the Main Deck are planned. while urgent works on the forem•st OTe ¢urrenUy underway and due for completion by Septernr 2025. With CAVALIER'S81Vh anniversary in 2024, focus was given to improving the visilorexperien¢earound the Ship. These included enhancements to the queuing Structure. updated inteTprthtiOn. and the instsllats.on of the CAVALIER 80 commemorative display in No.1 Smithery. However. an issue of asbestos contamination. caused by leaks near the bridge. has been identified and works are currently underway. whi]sttrying to¥thieverninimal disruption to the visitor experience. As we near the completion of our new ]Year Strategy. we are prepaTÉng a new Museum Strategy which will define how we interpretand share the Dockyard's story for thenext decade. With atsdieAces at the core of our decision makn.ng we will ensure our content Temoins relev¥nL accessibl< ImpeUl foT future senernti0. TtnxpotAry Ftshibitions We prograrnn our Jnpor¥ry exhibilion spaces in No.1 Smithery annually. These exhibitiorfj do notrecessarily share a Dwkyard story but are used primarily trj raise awareness of the DkYard to new audiences and drtve visitation. RNLT2(tr. The Exhlbltlon T<- Augwt 2025) As a lon8-stsndin8Partnerofthe RNLI.we wereproud COllat?ra1tWlth tlRNU Heritsge team to mark thecharity. bicentenary with a new, temFK)rary exhibition.. RNU2CKI. exhibÈtion celebrad 2( years of courage. innovation. and life5avin8 at sea, honourin8 the people, technology. and stories that have defined the RNU since its founding in 1824. The exhÈbition wa50fficially Ope on 21 March l)24 with a pre&$ previewand evening reception attended by Admiral Sir Trevor S)¥r KCB OBE DL and RNU Chairjanet LegraTtd OBE KC IHon}. who together unveiled the exhibttion. Media coverage for the exhibitiort included The Tirne5. BBC onli County Life as well as local sUPPOrt from BBC Radio KenL BBC&)uth East and Kent MEssen8er. We were also PToud to host RNLB Her Majesty The Quttn for the duration of the 2024 season, providTng an iconic welcome at the entrance to No.1 Smithery. The lifeboot named by. and after. Her Lite Majesty Queen Elizabeth II, was handed over to Sir Trevor &JaT and the RNU Historic Lifeboat volunteers by HRH The Duchess of Edtnburgh during ceremony at Windsorcastle. Ralph &eadman: INKling {Seplember- November With the aim of attracting new and diverse audien$ to tk Historic Dockyard. we PareTed with renowned Kent- based artist Ralph Steadman (Teate a bTand-new exhibition: INKJing. Curated by his daughter Sadie. thi5 show rnarked Ralph's fTr5t map)r exhibition in the UK in a decade and offertd a ra opportunity to explore the breadth of his extraordinary caTr. INKling 5howca5ed four dÈstinctÈve areas of hi$ work, from his iconic Gonzo iournaltsm illustrab.ons and political satire. to hi5 interpretstions of litsrary classics and children's Irok art. The exhibition wa$ 0ffi0olly opened by R¥lph himself atan evening TePtIOn on 19&PteMr 2024. A press campaign Tesulted in $ignificanl national media coverage aLT055 The Sundgy Tin$. Mallon Suxday and Ftx#nctol Ttmes as well as a full-length interview with Samira Ahmed (or BBC Radio 4's Frortt Row. 8 The Chatham Historic Dockyard Tt
Trustees, annual report incorporating the strategic report (continued)
For the year ended 31 March 2025
Nationa] Historic Ship Pholosraphy Cornlpetition
For the third year nIng we worked with Nab"onal Historic thips h05t their photography competition at the
Historic Dockyard. The images featured in this exhibition a from the 2023 competib.on which had a theme of -In all
weather5" and show¢a$ed a range of troditstsn¥l PltOge vesseb captUTed by amateur photographers around the UK.
The exhibition was on display in the Pipe Bending FIr>r from 5eptrrnr lo Novem.
Brickwreck&" Sunken Ships in LEGO Bri
Trustees, annual report incorporating the strategic report (continued)
For the yearended 31 March J)15
The Brave and the Waves (May Half Ternil
A bespoke interaciive ptotnenade theatre show stsged in Ij aTOUrtd the RNLI's Hl01)r Lile70t Colle¢iio
(Slip41, exploring the theme of bravery.
The slory followed three children Oive kn15) through ts1£s ofcourdge and kIndnS acr055 two
Tht GattLe Is Aft)t Isurnmer Holidays)
A Sherlock Holmes.themed detertive activiry based on a ml crime from Dckyard hiskny.
Thildren trrame"Dockyard Delectives,~ solviD8 clues to u[VerWh0 sold naval secrets m 1887.
Featured a liveacb)r lo intr(xluce the acttvity. detsciive ktts lincludlngtebwksand deerstalkers}, interactive
challenges and a-crime lab- photo opportunity.
"Sherlockones Aftemr>D Teas" weredeveloped and sobj in Mess Deek alongwith thematicretatl produrt
This aciivity ¥Lo served as a piltst t&51 theming fora Intial futurefi]rn location tour.
Yu¢k Yard Iotlober Ha]f Term)
Yuck Yard drew on the moye 8¥uesome ¥Spts of Dockyard hi%tory. expjoring unpleasant ioF6. medical
tnisfortunes. and the bizarre cures of the pasL
Included a prokni¢)nal tWQ-peYson show, BoltleoftheBtlge. a $itIe Rat Qtthels TTfflI with 5eveninteractive
stops and a Callery ofGw, wherechtldren could crealearhvorks by firin8 PaiDtsplab onto a &antcanvas.
Foul Face Painting wa5 provided in parthership with Mid KtC011e8e sthd•)ts.
Therned fo and retail incIude-Grnesome Tea Tr•ys.--Eyeball Sandwiches,~ and"S]iTn Green Mdkshakes-
in the Mess Deck.
Tht Ral Pack and the tAlSt Shipwred( IFebTUary Hal£Terth)
A self-led trail following the popu]ar ratcharothrs deveksFd for(knies Yu¢k Yard.
Children were tasked with helping the rats proted a ]egendary treasu map of HMS PANtKThA by finding
scattered segments a¢r055 the tknkyard.
This activity was deS[d specifically to build exolementahead ofourmaJorexkn"b]"tion laUh in March 2025 and the
trail ended al a LEG05hip mi>del.
Major Events
With a 8nnivers8ry programme. XY24 wa5 a bw onE Eor maF>r events. activities helped us Yeach ]w
audience5 and commemorate our herits8e.
MediuayGwntng FutiTl flunt). Now in its fourth year at th tkrkyard, this eveni tt]ebratss garnins in all Its
fonns. Iiserves as a ktyaudierKe developmentinitiativ4 attractingvt5itors who may nottypicaltyengage with
our CO offer. In 2r24. the Festival welcomed appTOXitnaly 5J82 patd attendees. This $how5 a small decline
in volumeon the previou5 year but presenle
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March 2J25 C4VAUER 80 (Nowmber). We marked the 3nniver$8ry ofthe COTnmissionm8 of HMSCAVALIER with a forrnal ceremony he]d at the Royal tkKkyard Churth ted by the Dean OE Rochester and Admiral &"r Trevor Soar. and opened by VKe Admiral Sir Jeremy B]ackham KCB, theeventwa5 attended by mernbe oftheHMS CAVALIER Association. RNA Chatham. and Inld A dedication and bjessing of the HMS CARYSFORTStandard was a]50 PerfOrn durins s1. As o chartty. our pro8ramTning toajign with OUTCOIE PlifFe. events $ltoutside ourprimary ren)il, they must have clearstraiesic ouicomes. either by 8Wrntin8 commeml DKome or txpanding our audiente reach. Rising operational ¢osts and changing audience iEhaviourn have prompted us to tomrnission a strategic review of our majorevents pro8¥amme. White this work ison8OiD8t we ¥t already made some difkultbut necessary dtci$iotis in the inteTe5t of financtal $ustainability. The Medway Gamin8 Fesbval Will not rturn in 1125. 2025 will mark the fi[ yearofsalute to the'405, aligThingwith the80th anniversary oftheend oftheSe£ond World Warand briThging theevent to a fitttn8 conclusion. Thesechanges refte£tour¢)ngoingcommitmenitodelivering purpwaul, high.impartPTogrammingthatsupp)rts both our vision aT¥J long-tenn fncial resiitenre. F¢>rmal LtarniTh6 This year. our fornul leamins offer continued to f4ce thallen8e5, partThlaTly due to TiSin8 tsxnspoTtstion costs that have CODStrained School group vksitsti¢)n. De5Pite this, weare pleased to Yeportthatover IIXX) lea1$ en8apl with our programmes. both on sitr al through ouroutreach progvammes. We are proud to have onte again been awarded the prÈsbgiou5 SIr(Ord Award for Heritage FAluratioTh ry0151n8 the excellence ofour Lifelon8 Leamin8 team and the hi8h¥alityeducational exFwences we provide. In 2024, we launched the -DLYty#Td DiscoueT¢TS- initiabyt. a new scheme that enabled students from high Pupil Premium schools in Medway to vist¢ the Historic tAxkyard fe ef chaige. This programme offered underprivileged children the opporturrity to experientt our award-winning tearning environment a[ take part in fun, inractive se55]0 thatexplored sfEM principles. all Itnked ditecdy to the nibonal curriculum. The tnttiative made pissible by a 8•wfoLts grant from the Charles Bumett Ill Mernorial Fund, administered by KentCommw)ity Foundatson. We are actively exploring opportunitie5 to expand this programrne in W25. With 5UPPOrt frotn our Art5 Counctl England National Portfolio Organisation INIOI fundin& we ajso relaunched OUT Art5 Award PTO8ramme. New Sessio weredeVelod kn align with ourwiderpro8raTnmin& and thisyear. youn8 people successfully completed ltArtS Award DISC(ertEfi¢aIIon. OurHome Educ4loT Doys (onbnue to grow in p)pul¥rity.offerinsslructured. curriculum-linked learning opportunitie5 for homtredurattng families. Held four times a year. these cater to • bToad ran8e of a8es Ind learning styles, and have becorne a key partofour ]earning offer. Publie Ensagement Irt 22 we stren8knd our cornmitmEnt to tommunity tngagement arm£ acce55ibiJity through a raTh8e of inclusive initiatives, local p3rknetships. and crtattve PTO8rammin& Muth of focus aTrJ theming ofourartivity was linked to our4(¥h anniversary. We hosted * range of ex1)itior in NamuT RoDnL OUT fre&tOvacctss community spatt. exhibitiors werec ¢uratEd with both new aTKI establishr4 partners. Tthecbn8 the divtr5ity and crealivLty of our local community. New collabovators this year included Medway Diversity FonLm, Unravel & UDwind CIC, and Medway School of Arts. We also built on existin8 relatioh¢P$ with Hazetnut Press. Kent A¥tistic TTUSL Ind the Medw3y African CaribiÈan A$slation (MACAI. We continued to align exhibitiOJLS with wider Medway rnltural events. itKb¥din8 the Medway Print Festival and Medway OF Sdi05. 11 The Chatham Historic tkKkyard Trust
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March Thanks to Arts Council England NPO fundin& much of our acce55 inclusion programming remains free lo participants. ensuring price is not a barrier for en8agins with us. We delivered two Brittsh Si8n IAnguJge (BSL) tours and two audi04les¢ribed tours focused on key Dkyard tEne5 and exhibib"oD5 and through collalK>rating with I1 artist Wendy Daw5. we were able to creale a tsctile art lyY>k linked to the Ralph Ste?dm¥n: INKling exhibition. This year we have prioritised Anuea5in8 everyday accessibility over lOnal offerings. We were pleased to launch our n$Ory Support Backpacks for the 2024 season. DesTgwd for vi5itots with special edveats.onal needs, these complimentary pack5 contsin calming and interactive resources to 5UPPOrt acce55ibility during visits. We have a]so improved the clarity ofaccess inforniationonourweb5iie. A new blogwas launched toguideSEND familie5. providin8 inforniation on sensory triggers, quielEr time5 of day. and $F]C detaijs al)ut holiday activitie5. Followin8 posilive feedback from our Mtssson Otrislmos laXed sessions in J)11. we offered dedicated relaxed days duringthe 2024 festive sea50n. Our rnonthty Dementia continuLs to grow in popularity. with us celebraling its first birthday in SEplember. Generously 5UPPOrtEd by the Medway Sunjight Rotary Club. the café offers activities for people living with dementia and their carers. In 2024. the café wekomed external organisations including Bright Shadow. Kent Fire & Rescu¢ and Carers First. We also share hands-on activities with attendees linked b) Dockyard Sb)ries. Ahighlightof ouryearwas recei¥ingtheprestigiousGOLDaward forAccessibleand InclvsiveTourisJnattheBeautiful S)uth Awards. This proud achievement is a SMment to our ongoing commibnent tocreatin8 anopen and welcoming Dockyard for all. MaTketins and Communi¢4tions The Marketing and Commut)ications team plays a central role in suppo8 the entire organis0tlo helping to drive aw8rene5s. deepen engagemenL and support the fulfilment of our JeaTDing obiectives through disital and offline Ktivity. This year. we delivered tsrgeted campaigr6 across all major ini¢iatives. includAng value-added family programmin& temporary exhibition51 public engagementaclivity. and maiorevents. Ourprimary focus was on increasin8 web tr¥ffic. converting web users into on]ine ticketsales. aTrJ ultimately drivin8 visitstion. Our digilal conient5tralegy remains cli)sely aligned with the Trusvs missiorn particularly during our40th anniversary year. We created enga8in8 content around Dtxty&Td40. sharing Stories that increased reach and deepened audience conmettton. Our key digitsl PlatfOrn Irlude our website. thedock ard.co.uk supporled by Sla1 media and email marketing. Website user nUmr$ reached an all-tin hith with a Irdestin¢1tase on the previous year. Engagement rose to 55%, representing a 12% uplrft yearn-Year. On social media, we continue to strike o careful balarKe bEtween sales-driyen messaging and authentic storyielling. Evergreen content such as Worship Iwnesdoy and On This Day consistendy deliver high engagemenL Both Facebook and Instagram saw steady growth over the year. with Facebook remainin8 our top channel for both engagement and website referrajs. Weincrea5ed thefrequency ofourenew5lettercampais.a11ernatlTrgbetWeen focused.single41ory emails and broader editions fearIng multiple updates. While oTr ra*s remained stable. the subscriberb•se grew significantly. Offline. our efforf5 focused on targeted distrÈbution of prin1 leaflets and out4)f-home advertising within the local area. maintatning vistbility and presence in otsr key audience catchment areas. To mark our40th anniversary. we also lauth Dk That. a rw¥ monthly podcasthosted by long-time volunteer and seasoned radio presenter.john RobÈnson. The PcastexP1Ores thestories. people, and historyofthe Dockyard, offering a new platfom) to grow our audtence and 5hareour stories. 12 The Chatham Historic DLKkyard Trust
Trustees, annual report incorporating the strategic report (continued) For the yearended 31 March 1125 AudleD¢e Development As partof the development of our new I(year strategy. we commiwoned BDRC BVC to vndetske è compTeheTr5ive audience research project. Thi5 work aimed to deepen our understsndingofcurrenL lapsed, and non-visitors. providing insights into awareness leve]s. motivations. and preferred engagementmeth¢)ds. The resulting report offers a deep evidentt base that will shape our audience-flt approach going forward. Through this process. wehave developed seven tspokeaUdieeSegnts. enabling us lo tkndevetop ouroffer. experience5, programmin& and nwrketing. We have priorilised thesesegments based on size. ValUe.aT likelih(M)d tovisit Our two primary audienos are Militsry & Hislory Exthusifists and Flxused Ftzmilies. These groups closely all with our core offer and have strong growth potential. Sewndary audiences include Furt fime Frmiilies. Creolives ¥nd LI ExFrienc¢ Lrtrs. This research and segtnentstion will play a witsl roleinshaping oUrfutU and infornihowdeliver¥gairft theoi4ectives tn our new stralegy. Dats driven decisions will ensure we PToduce TelevanL inspirin& and enga&ring experience5 that meet the needs of our priority audience group5. now and Ènto the rxt decade. Achievin the Preservation O With over ICI) buildings and structu$, including 48 heduled Ancient Monuments. PTeservatr"on across our historic estate is a continuous and evolving re5pon5ibility. We deIiver our charitsble purpose of prtseruatton through our long- temi Strategy of "Presetvation through Reuse-. ensuring these n•tionaIly $ignific•nt ¥$sets Temain relevanL safe, and $115tainable for generations to come. Over the past year. the Eststes Team h$ JeliveTed a bm¥d progromme of Planned Pre¥tiVe Maintenance IPPM) and restorats.on proitrts. Key highlights include". Structural survey of t)ock Road Wall Roof repair5 and sea wall repaiTS on Turks %u"pyard, en5urin8 weatherpToofmg and StrnCral integrity of the building and helping to safeguard the historK marine edge of the estste. Maintenance works on (KELOT Cai550n Central stairwell repairs and preservation work on Officerfs Tezrdce. Roof repair works on the Clock Tower Building Restorotion ofextemal finishes at the Tarred Yam StOTeand M Sub Stabon. RepaiTS the glazed f¥rade on Slip & Alongside these proiects we commissioned a detsiled aerial 5urvry of the river wall which has provided an invaluable benchmark to guide futUTe mainten•nce ptanffiin& With the appointsnent of a new Director of Eststes and PreseThation. a five-year PPM stralegy has been developed to ensure aligTuDent Wsth Conservation priorib.es and all Stra10ry compliance obli8ab"on5, including Electrical Installation Condition Reports IEICRI and Fire Risk A55e55ments (FRA) have Eeen reviewed. Commi99ionerfs Houge Builtin 1704 forcaptsin GeorgeStlA>. Commissione<sHow%¢h&sremained largdy Undnged forover thxeecenturies. A5 one of the most $ilfi"can1 buildings in our heritsge esfa*. we h3ve embarked on an arnbitious restoration project to preserve the building for futuregeneFab"ons. Ourvision is to enharLce publicacce55and re<slablish the House as the centrepiece of our h05piiality offer. We were awaTded an inib.al £13 million by the DepaTbnent for cUlTe. Media gp)rt through the Museum Fstste and DevelopmentFund (MEND). administered by Artscounctl En8land. AddÈtional funding incIudes a £245.063 grant from The Natiortal Lottery Herige Fund, £29J.i)Xl from the Garfield Weston Foundatiory and £ICIJWO from the Wolfson Foundation. Despite securing an impressive £19 million in grants. further investment is needed kn fully deliver the proiect visions and we have launched a public appeal. invitt.ng indtvidua]s and businesses to support the project. 13 The Chatham Historic Dockyard Trust
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March 25 The project ts in two distinct pha5e5'. Phase I: Repair and Protett The first phase will oddres$ structural stability of the building through criticol repair5. Conservation efforts will preselwe historic Ènterior features, i]Uding the remarkable ceiling painting of Mrtys CrorLming Nepthne. attributed to Highrnore and Thornhill. Addib"onally. Temedial work will be undertaken to proteci thee"bits and collecttons housed .within the buildmg. Sustasnability hmprovernts will a150 be implemented to reduce the house's operational carbon footprint Phase I. Access. Interpretatio artd Reuge In the second phose. theCommis5ionerfs Housewill bEopened to the publicforthefirsttime. The buding will undergo adaptive reiise. setrving both as a museum and a hospitality venue. Efforts will also made to enhance acce$5ibilrty, ensuring more peoplecanengagewith its hkstory. Aprogrammeofevents withi.n H¢seWIll con)ten•bleVI5ItOr5 to appreciate Medway'5 maritime legacy and the impact of the Dockyard's naval history. The re-launch ofCommi55iond5 House 15 scheduled forsummer . Do¢klng Stition Docking Station. our partnership Project with the University of Kent and Medway Council, has reached mojor milestonesdurin8 this reporting period.Thesuccessflllcapitsl fundroisingcampaign has secured a3.4 million towards the project with a recent.5 million grant from the Nats"onal Lottery HeTitsge Fund completing the campai. October2024 marked a pivolal momentfor the proFrt. with key legal08reenCOMPIeIed. including leaseexchanges between Homes England, Chatham Historic tXxky4rdTru51, and the Unrver5ity of KenL Thi5 legal frarnework brought the Grade 11 listed Poli &cts"on House the 5tewaTdship of the TTUSL ensuTÈng its long-terni preservation and inlesration into our wider heritsge estste. February 2025 saw 5eniorTepTe5entabve5 from the University ofKen¢awtham Historic Dockyard Tnt, and Medway Council gather to celebrate the offKial slart of cortstructio Uver the Thext reporting PeTi, the Police &dion House will be tranSfOrn into a cuttin8&8e creative produclion facility. Along with constructin8 a new studio buildin& commencin8 later in the year. Dockins Station will be home to o range of state-of-the-art facilities that nUTre creativtty and innovatirjn. Docking Station will drive the development of irnTneT5rve teChnoloe$ in the &)uth-Ea5t and drive 8rowth in the Cthbve Industries. one of the priority sectors in the UK economy and a key partof the Crf)vernmen¥s IndttslriaI Stratr. COmtr¢ial Estate Oureonunertial estate. home to over 180 business lenants. continues to thTiveand diversify. Cnerating approximalY £4 million per year in 5uslainable revenue. estate plays a critical role in supporting our broader chaEitable purpose. The business mix remains dynami¢. with a 8rowtng ¢reOtive industries sector. alongside representation from professional services. manufacturin& and both fvTtherand hitsr education InstitionS. With the Joinersshop serviced orfice space. brought irthuse from Ist(kt0r 2(Y23, our proFerty estate now provides space from virtual offices and cTrworkingthrough up io J).(XXlsqftOfspa. Achievxn the Eellence Ob'edive As an independent charity our aim to provide excellen in everything we do. We strive to deliver unmatthed. iFISPiTational and memorable experiences for alI useys of the Hisknric DrKkyaYd- whether visitors. tsthnts. Tesidents OT sfvdents- thatexceed their expectstions. DevelopingexcellerKe is the key to llnlocking income and creative development acmss several areas. 14 The Chatham Historic Dockyard Tnt
Trustees, annual report incorporating the strategic report {continued) For the year ended 31 Marth 3)1 Quality knured We belReve thatbenchmarking again%tothers and usin8external judEementthrougFL pmedited schemes is theistway to assess achievement. We parti¢iPa in the annual VisitEngland Visitor Attraction Qualiry Assurance Scheme (VAQAS). We are re pteased report that for 2024/25 we rettived a score of 95%- the highest score awarded since the scheme's iwKeption. Double Gold Award ll16 This year. we were proud to be reco8nised with two presti8M)Us ld Awards. We werehonoured with the PTestigiows ld Award from vln81dnd in its annual Attrartion Accolades. recognising the exceptional quality of our visitorexperience. Our remarkable95% score in our VAQAS a$5esstnentearned us our fÈfth C)Id Award and a fitting externaI recognition for our conts.nued dedicolion to delivering an unporalleled visitor experien. We We the only •ttraction in Kent to receive this coveted accolade. We re]Ved the Gold Award froTn VisitEnOnd as part of its aTmyal attraction awaTds, celebrating outstanding quality of our offer. Thi5 marks our h'fth Gold Award from visingland and helps to reinforce our reputstion for consistently deliveTing a world<lass vssitorexwiKe. We were the only attrartton in Kentlo re1ve thJ"$ a¢colade. In addition. we were honoured wxth the Accessible and Inclusive Tourism Gold Awatd at the 2024125 Beautiful South Awords, presented by Tourism S)uth East This award recogntses organisations that go aiKJve and ytsnd to create welcomin& indusive, and acce55ible experierKes for all vi%RtOTS. TTavellers' Choi¢e We were awarded the 2024 TripadvisoT Travellers. Choice Award, whKh reco8nises outstanding visitor experiences. for the 14th year running. Investin in our As a charity, investing in 0r$taff and volunteers is fundamental lo our culre and essentil our long-lemi success. We continue to PTiOritise talent developmenl succession plannin& and workplace wellEeing to support a thriving organisation. In recent years we have navi8atsd key tran5its"or6 following the Yebrement of several long-setving team memlyrs. Lookrng 4head, Nigel Howard will ir the next long•Stynding team mernr to retire. In preparation, Jonathan Arthur joined u5 a5 Director of E5tate5 and Preservation in July 2024. with Nigel continuing in a supporting role a$ Assi8tsnt Director until his planned retIreL The recruitment of a dediCad HR Manager in Pternr 2024 ha5 marked an importsnt Step xn strÈngthening our Orsanisational infrastructure. For the first time. we have a dedicated resource focused on people management. A comprehe1Ve review of our HR polioes and priKeduTes has ¢ompletrd. and a new People Strategy is currently in development to guide future growth and supporl We have a]50 prioritised slaff wellEein&trititroducing an Employee Assists Programme AP). life coaching opportunities. and bi-monthly -wellbeing Wednesday- session5. These rniliative5 are designed Promo both personal and professional development and create a supportive environment across all team Trarnin8 remains a core partof OUT culture. with ongoins development in health and safety. GDPR. cyEer security and safeguarding delivered through a bler of on[1 and in-per50n sessions. Our annual 5tsff and volunteer survey continw ts be a valuable tcKJl for colleciing feedback. monitorin8 Well1 and generating ideas for improvement. 15 The Chotham Hisiotic Jknkyard Trust
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 Marth 2015 Promo¢ing Equality. Diversity and Inclusion (ED&D continues to a key stratrgic priority. We are actively delivertng agairLStourED&I strategy. which outlines how we will identify and overcowne balerS to a£ce55 and ensureTheHistoric Dockyard Chatham is welcoming to all. The appointment of the HR Manager has eTthanced our capacity to improve staff awareness. confidence. and undeTstsnditig of ED&I. and to increase the diversity of our workforce through inclusive recnjitment practice5. Staff Complementr Permanent- 78 Seasonal- 74 Volunteers Volunteers are the lifeblood of The Hisknric [kkyard (Thatham. From railway oper¥tOTS and ship-keepers lo ttsn5ervators and researcher5, passio time. aThl expertise are essential to ouy daily operatiOllS and lOr-terM succe55. We currently have over 3(M) re8LStered volunteers. with approxim¥lely acb.vely 8jvin8 their time on regular ba$is. We are deeply grateful foreverything they Contribute. Our dedicated Volunteer Coordinator continues to pmvide exPtiOnal supp)rt to our teams¥ PTioritising wellbein& creatin8 a sere of commtsnity. and championing voIunleer involvement acro55 theTrusL A wide range ofen8agement initiatives heIp sustsin this valued cojnmunity. including bi-monttdy coffee mornings. monthly e-newsletters. and regular day trÈps to peer or8anisatiorts. Each year. we tske part in VolunlÈers' Week. using this n4tional initiative to shine a spotlight on the incredible impact ofourvolunteer teams. In 2024. to coitKide with our40th annivetsary lebratio. weintroduced kngsetvice Awards to fornully reco8nise the contributions of our voluneeTsover tl last four decade5. We proudly presented 88 awards. includin8 13 honours for over 25 Yea of selvice. Trading Activity As an organisationcommitted to entrepreneurial and sustainable growth. we continueto dTive commercial activity that supports and enhances our tharitsble obFctives. Our trading operations play a VAtsI role in generating unrestricted income. which is reinvested directly back into the Hi5torAC Dkyard estste. Vi$itOT Trading In 2024125. our consolrdated trading activity delivered a net profit of ll54XTh). wtth a consolidated visitor spend per head reathing £8.07, showing strong performance across our retail and catering olationS. Hospitality Our hospitslity business aLYounted for Q31.(KQ sales in 2024125. Notable events included BBC Radio Kent Make a Difference Award$. MHS annual Confett, The team has worked closely with the Ests$ Departn*nt to wind down operations at Commi10nts House in preparabon for its upcoming restorntion. Our final wedding at the venue took Pla in (klr. With Commi10neS House temporarily closed. the team will operalp. WTth IirnTted 5aIe5 OPPOrtunities throughout )25 and 2026, shrfting focus to coOrate hire across alternative venues. iluding the Royal Dockyard Church Fitted Riggu)8 House. aftd No.1 Smtthery. The team is actively Contributing to the redevelopment PlannU for Commissionerfs House and is WOTking al&iigside the Marketing team to Sha a launchcampaign and develop salesstralegies in antscipation of its reopenÈng in summer 16 The Chatham Historic Dkyard Tru51
Trustees, annual report incorporating the strategic report (continued) For the year ertded 31 March 2025 C411 the Midwife Offi¢i•l Lo¢ation Tour The Call the Midwtfe Offictol L¢KAtiort T¢wr remain5 one of our mostpopularexperiees. Our costumed midwife guides wel¢omed over Ilfxm) fans through the guided iour and exclusive exhibition. Targeted marketing campaigns helped attrart new audiences. and visitor feedback continues to be overwhelmingly positive. The tour consistently draws the htghest proportion of visitots from outside Keni and Medway, as well as the largest share of intemational visiioys coMPad to OUT other events and expertences. Audience irsightshows that 83% of attendees are first-time visttors to the Dockyard. demon51ratin8 its efferttveness in ¥¢hing new audiences and increOSTng our awarefr5 to those who would not nats]r•lly engage with OUTCOTe story. Mi$$ion Chri5tThas Mission Christmas tske5 place durins OUT c105ed season and translorm5 the Comrnand ol the Ckean5 gallerie5 into a festive, family.friendly experierte. creatinga valuablecommercial oppothnity ata time when the museum is typically not open to the publi¢. In 224, the experience welcond 6.958 visitors. Whi]e this reprEsenknl a Slightdecline in visitor numiYTh cornpared to the prev10115 year. ticket revenue increased by 11%. due to a revised pricing structure and a modest Price uplift The experience continues to resonatestrongly with OUT local audiee. with 68% ofvisitots coming from ME postcodes. Encouraginsly. we are also Eeginning trj see a grndual increase in visitr)rs from other Kent postcode areas. indicating a 8fowEng eonal appeal. The audientt profile for MisOfftt Otrislm45 ajisns closely with our priority 5e8ment, Focused "Familie5. and 15 atso well-supported by Fun Time Familie5. The experience provides an opportunity to Introdu new audieTKe5 to the Dockyard. many of whom may noi typically enge with our core offeT. Our aim is to convert these fir51-time vi5itt>r5 into annual bcket holder5. Filmins The Historic Dockyard remains a sought-after filming Iattory with revenue from productions generating £2WlJtx) during the reporting period.Several high-proh.le productionsaired in 24, includingSAS RogueHeroes, A ce1 Love.. The Ruth Ellis S10ry and Steve Md2ueen's The Blit& which we leveraged to further roi5e the profile of the Dc<kyard. In response to the 8rowin8-set-pttsn8- trend. heavily promotrd by VisitBriiain. we are acts.vely developing a new Film Location Tour whÈch is set trj launch in 2025. This wiIl build on our lilmit)g succes5 and help to diversty our visitor offer. Rope Sales Trading under oursubsidiary Master Ropemokers Ltd. rope sales lotalled £426XKKI, a modest increase from £A09iKK) in 2013124. This steady perforniance is a POSTtivÈ result given challengin8 market tonditions and reflects our continued commibnent trj presetrving the traditional skills of rowmakTng while Sustsining commeTaal viabÈlity. Develo 10 Year Stra Over the last12months we have rwi a collaborative PT(ess involvjngeveryorf[oTh Tru5tee5through to seasonal stsff and volunteets lo develop J new Iyear strotegy for theTnJst. Ch¥rting ourambitions for the tdeCade. the strategy will be officialIy launched in july 2025 and will see us evolving OUT museum so that it [5 more audience-centred ondfee]smore relevant to a lar8er.broaderran8e of visitors: using our estate io respond tOreOnal needs. including Creative industries and being more connected toChathm and Medway contributing to a Stronger sense of placeand community. In the development of our new $tra*gy. we have defed a new vision and set of strate8ic obiectsves". Our Vision. A WOTld4eadins heritase deslinthon For over 4CI) years. Chatham Dockyard has defined the wider development of the Medway Town5 and has been the beating heart of its community. 17 The Chatham Historic t%xkyard Trust
Trustees, annual report incorporating the strategic report (continued) For the yearended 31 March 3)25 40 yeaTS on from its fonnal closuTe, OUT aim ts for The Historic tkykyard Chatham to uphold ¢)ur piorering strategy of'Preservab"on through Reuse,. ub"lising our krilase assets to deliver both charitable impact and sustainable income generation to achieve this vision. We will do thi5 by understandin8 and respOrIng to the needs of our alldience5 and continuing to presetve the mosi complete dockyard of the age ofsaiL reCOl[51n8 thatour Testlienceand 5u5tslna.jity are keys to UnakIng our $ucce55 in the future. Our Stratwt Obje¢tivts Audience- Putting our attdiences first Our audiences are crucial to our Ltaming charitable ob)xtive. Over 40 years, we have cultivated diverse audÉences. Looking ahead to the next decade. we aim to engage lotrdlly. nationdlly. and internationally. We will innovaie and personalise our appmch to tonneci with priority audiences identified through detailed 5egnntation. These priorities may shiFt with external changes •Trd evolving narratives. Key to our SUC5$ is sdentifying priority audieTKes and adapting our museum experietKe to meet their needs, whtle Temaining flexible as these priorities change. Preservion- Prelervation throush Teuse The concept of"Preservation through Reuse~ ha5 been a guiding piinciple for our organisation for many years and remai5 as levant tcday as it dxd in 1984. Maximi5ing and l)oldly tskins opportunitie5 as well as finding sustainable, irwvats.ve and appropriale re-U5es for our herttsge assels. we will un]crk the potential for both delivering charitable impactand improvin8 OIIT financial suststnabÉlity. Resilience- Ettswe a lon84erni 8tyStain•ble ftttu Since our CTeab"on in 1984, financial reslliee has iEen a definin8 factrjr in OUT success. Guided by our strategy of "Preservation through Reu5e-, we succe55fully adjusted to the withdrawal of Government funding in 2024. Looking ahead. our future growth and abrlity lo deliver againsi our charitable obFrb"ve5 hinge5 on our re5Llience and this is recognised within this $trale8tc obp¢b've. We lieve that the keys to OUT longer-term resilients are tFwough the wider development of our prowty por6oIio. growing our audiences. cwting innovotive income generating experienos, and continuing to develop our lit with cultutsl and creative industries. In settin8 and pursuin8 these obpcb'ves the Tntee5 have had regatd to the Tharity CommissAon's guidance on public benefit. In accordan with the articles of asswiation tkne are eknen trusiees. all of whom are the Directors and members of the Trus( which is a company limited by guaiantee. The knetary of Stste for Di8itaL Culture, Medio & Sport and the Secretary of Stste for Defence are also members of the Tryst company. TheTrust Board retains uItimate responsibility forstrate8ic decision-makin& l)utordinary managementofthe activities and business of the Tntst is delesated to the ChTef Executive. who in turn delegates speciFic management areas to appropriate tThember of his executive team. 5cir al defined expenditure and contrackual limits are in place and operate effectively. The Chief Executive and key merni$ 0£ the Executive team report regularly to Board commtttees and to the Tn]5t PKJard itself. As vacancits in theTrust Board fmm time lo timeatrise. itisTrystpoiKy lo ensure thatnew app0jntmentsrefltSpe¢i[1c Skill Sets seen as important for a charity of th's nature. In acrdate with an estsblished protocol. n¢)minations For new Trustees are invited from existing Board members. and corLsidered by a Nominations Committee. which includes the Chairn)an of the TrusL who consults and invites representatio$ from appropriaie Board members. After dn inletrwiew process. a fornwl proposal is put trj the full Board fordecision. Once appointed. new Tru5es are g]ven a full day's induction atthe Historic Dockyard which includes a fulI site tOllT8nd timespent unders&nding the business with the Chairman. Chief Executive artd other senior mana8eTS of the Trust with on-going training provided as necessary. 18 The Chatham Historic DrKkyard Irust
Trustees, annual report incorporating the strategic report (continued)
For the year ended 31 Marth 25
TheTru$t Prt)ard. Committees of the Boord and wholty owned subsidi•ries ( Etlowl, with their5eparate boards. have
all operated effectiveIy during the year. providin8 stralegic guTdance lo the Executiveteam and all-importantoversight
and Scrutiny ofdelivery again5totrryectives5et. Following iE5tpractice. the Trust Board has effective AudiL Compliance
and Risk, Ftnance & Cneral Purposes and Remuneration Committees ¥s well as specialty fornied 8TOUPS 5tsrt-firtish
CotDrnittee5. su
Trustees, annual report incorporating the strategic report (continued) For the yeaT ended 31 March 1125 Risk The Trnst has an active risk resister. which is reviewed by th¢ Board tsvife in ea¢h year. The ttsl6ter eover$ identifled strategi¢ risks and mODitor8 movement iti risk * * key IndicatOT of progreu. Key risk$ are generally stable and considered Jnanaseable. Chatham Historic Dockyard Trusi hold5 a business risk register which is reviewed on a regular basis by the Board of Trusiee5. The Tegister identth.es key risk% and ai the pointof reportin& these are listed a5 the followÈng.' l. A sub5tsntial Teduction in the resourres required to MeettheTnyS operational and development needs. 2. The occurrence of Sign]Cant physical damage to the PrortY, htoriC characier or fabric of the Dockyard. 3. A Failure in the Strategic or operational Thwnagement of the Trust 4. A failure to n)aints5nlmanage our IT data-holdin8 and re5ated systems appropriately lo meet 5talutory operational and se¢uTity imperative5. 5. The loss of key Staff or damage to moTrle WYth the workSoTce orvtslunt community. 6. Failure to maintain a safe and healthy enviTOTunent. 7. The loss of a key parther or relationship. lrtappr0pria developmènt or dunge of use of prowty odjoinxn8 or nèar to the Dockyard. 9. A ¢hon8e in government p)li(y or professional Stsndard5 which is IOmPatible with the charitsble purpose5 of the Trust. 10. Increased ener8y/utility costs and irKTeased material/labour costs due lo currentecortomic climate. Each of thoe risks is srored and appropriaie mitigating actions are tsken tr& ensllre F)th likelihood and impart are reduced where possible. To enthance internal controls a memFer of the finarte team provides an internal audit funrtion as a substantial part of his role. reporting dIreCY to the Chief Executive. and thence to the audit and compliance committee of the Trust Board. veral internal audits have been undertaken in designated areas. to ensure wmpliarKe with sktutory and internal Trust requirements. Support through third-party 50urtr5 has been imperntive lo our survival. During this period. we have ten fortunate to re1Ve sigmificant grant support from the Arts Council Englatxl, Wolfson Foundation, the Garfield Weston Foundation and the Nationa5 Lottery Herila8e Fund. Individual Fundr•isins Adivity tion 162a of the Charities Art 2011 reqtsires charities to make a slatement re8ardin8 fundTatsin8 acttvities. Although we do not undertake widespread fundraising from the general public. the legRslation defines fund raising as'soliciting or otherwise prcKuring money or other PrOty forcharitable purp05e5.' Such amounts received are presented ID our accounts a5"income from donations. including 8rants'. In relation trj the above. we confim) that all solicitstiorLS are mattaged internally. without involvement of commercial participators or profe55ional fund-raisers. or "rd parties. The day-t(aY mana8ement of all incorne generation is delegatsd to the exttutive leam aTr4ccountsble to the tntytees. The charity is not bound by underlaking ¢0 beTrxJund by ony Regulalory knmebutany fundraisingthatdoes tak platt with individuaLs TS in I with guidantt set by the Fundraising Regulator. We have Teceived no complJints in relation to fundraisTng activib"e5. Our terrn5 of ernployment requiTe stsff to behave reasonably atall times: as we donot approachindividu81s forfund5 wedo notparticularise this to fundYai5in8 a£bvitie5 nor do we consider it necessary to desi sperrfic PredureS to monitor such actÈvities. 20 The Thatham Historic Dockyard Tnst
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 Marth 2025 Financial Stati6ti(s VISITOR NUMBERS 2015116 TO 2024/25 25rM) IndNidual viyts ScoIS¥l51 Or8ani5ed youps E%tnts & corporate 201 ISC0 iocwo 2015116 2016117 2017118 2018119 2019120 2020121 1021122 2022123 2023124 2024125 Year VISITOR INCOME 2015/16 TO 2024/25 Individual Income 5thIs Incorn Grou In(Le Events Income 1.200 400 200 2015116 2016117 2017118 2018119 2019120 2020121 2021122 2022123 2023124 2024125 Ye¥ 21 The Chatham Historic Dockyard TTUSt
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March 2025 PROPERTY INCOME 2015/16 TO 2024125 Rental Ir(ome Mo.1 knithÈry Rent Car Parking Utilitie5 Rechorged v Filffling 4,500 • knners Shop Ir*orTr Oe¥elopmEnt Fund Rtht 3,5C#) 3.C¥JO 1.5(X) i.ooo 2015116 2016117 2017118 2018119 2019120 2020121 2021122 2022123 2023124 2024125 Ye TOTAL INCOME 2015116 TO 2024125 Property incerne • Visitor incorne # R0peMakn" * Tradi & investment IrMe u othef Brants & dnatIc5 6,0 4,0)0 2,(KJO 2015116 2016117 2017118 2018119 2019120 2020121 2021122 2022123 2023124 2024125 Year 22 The Chatham Hftstoric Dockyard Trust
Trustees, annual report incorporating the strategic report (continued) For the yeaT erKled 31 March 2025 OPERATING INCOME 2024125 £OOO's 0¢T Erarbts & don*1. 63.1% Trading & irwestrnent Irne. 1.235. 16% ROpernakI 517. 6% Propertyincorne. 4.061. 51% Visitor irwne. 2.026. 26% OPERATING EXPENDITURE 2024125 £OOO's InsUrare 242. 3% Administratiort & suppor¢ 781. 9% Uiiliiies. 718. 9% Tra¢fintCO5 1067. 13% Pre5eMti¢n & EdwrtioTh, 4380, 53% M¥ketin8 l Events. / 651. 8% Ropemakin& 374. 5% 11 The Chatham Historic Dockyard Trust
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March 25 Smbsidiaries The Trust has four wholly owned tradins subsidiaries which mana8e acttvitie5 desig1 to create related income streams for the charity that do not arise fvom its primary purposes of preservation by re-use of its heritage assets and education. In each case net profits are trnnsferwed to theTrust with the teneh"t of ftaid as a qualifyÈng charitsble donats'on. The subsidiaries are: Chjlham HisloTi¢ Dockyard Tading) Limited Thi5 subsidiary undertakes retsiL catering aTrJ 5imRlar operation% at the HiSriC Dkyard. The tsIts for the year were: Retail Catering 75k Turnover £418k Net ProfitllL0551 Spend per visitor cHDradingI Ltd. gerrated a net profitof£153k {£145k in l)231241. This was despile visitorvolumes still below pre- pandemic levels as retail and c¥rÈng spends per head hit Tecord leveI& £63k £gJk £5.76 Propety Companies The Trnst has two wholly owned subsidiary property holding companies that nwnage the residential and potential development land on the Tn5 eSle. Net Profitfvr the YeAr Historic Dockyard Property Ltd (HDPL} Historic Dockyard Property {2(XkS1 Ltd (HDPL 2Th £llk £91k HDPL provide5 managerntand a Tange of mainlantr services kn the residential eslale at the Historic Dockyard. It works closely with a lornial Residents. Assotiats"on. The time and commibnent devoled by that Associab"on is very valuable in helpin8 to provide a well m8int¥u*d and harnwnious environment as part of the Trustrs strategy of excellentservice to all users of the estste. HDPL JK)5 owns and m•Twges an atea of Potrnbal developrrtht lèftd within thee5tate. known asThe Intsrface Land. currently let on commercial leases. Master Ropettwkers radIti8) Ltd IMRLI TheTrust recognises that the Rory is oreof its strongestvisitorattraclions. Thecombinats"on ofa guided tour and the traditional manufacturing proces5 provide a highly enjoyable and educational eXrienCe. The manufacturtng process, because of its educational value, is now undertsken by the Trust as p¥rt of its core activÉties, but the sale of manufactuTed rope #nd rope produc15 contÈnue5 a5 a commercial activity. undertaken by MRL. The year saw the annual tumover for MRL a¢h fA26k. There was a Net Profit of £52k which has been Gift Aided to Chatham Historic D(Kkyard Trust. Products made from manufactured rope for the retsil nwrket conbnue to grow in importance within the ISinesS ofMRL. TheeIrag1rtg re5ultsof thecompany are founded on prirKiplesof excellent ustomer servicei quality produciJn and diversification of pn)durt and markets. 24 The Chatham Historic DcKkyard Trust
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March X)25 Energy Carbon Reportins The followingSECR Report was completed bv GEPEnv1rorntsl Ltd (GEP)based onTheChatham Historic D(Kkyard Trust (CHDT) energy consumption. covering t7ir 2025 fanal year and contsin5 GHG ernis5iofLS results and conversions compleknl by GEPEnv. supporting CHDfs SECR ryrttng discloSUTe. As a lar8e' companyi as defined by Companies Ad 2(. The Thatharn Historic Dockyard Tru51 15 required to report on its energy usage and reIated carn inf0mli0 Consumption in kwh and erni10ns in toTu of C02e for the financial yearending 31st March 2025 are provided. Emis$io#sfrom comstio of &$ tC02t (Scope l) Location Sed Tonnes of C02 equivalent I02e) ore calculated from the product of the invold gas consumpts.on in m3 durin8 the reporting period and the 2024 UK &vernment GHG Conversion Factors for Company Reporting for atural Gas, SIre lstoctr1r 2LY20. The Chatham Historic Dockyard Tnth¥S purchased CartKn Neutral Gas &s part of their Gas supply contract provided ty Br(M)k Green Supply Limiled. For more mformation. please visit www.brty)k .com fuel-mix. Emissio#sfrom pwrchased electi¥tity tC02e (Scopel LoC4tioM-bSed} L(Kètion Based Tonnes of C02 equivalent (tC02e) are calculated frorn d pwodurt of the ab)ve ststed electricity tonsumpb.on in kwh during the current reporting period and the 2(f24 UK &vernment GHG Conversion Fartors for Company RewTrrbng for'Electri£ity Cnrated/EkCt1lCIty.' UK, Emissiox$fvm purclwsed eleththty tC02e IScope2. MArket-&Sed) Market Based Emissions are reported as O due to the fuel mix of the electricity purchased. as deffed by the suppliers, fuel mix. Haven Power fuel mix: 10)% REGO Backed Renewable Electricity. Intensity Ratxo (IC02exrossfigure brtsed ow mANdAtoryfields) The tntensity fabo 5tsted aFM)ve has ten calculated as Tonnes of C02e totsl square metres of Propety owned for The Chatham HL$toric Dockyard Trust a5 a whole 013.918 m21. Caxbon Emissions Data Previous Reportingyear 151 April 2023_ 3151 M•tth 2024 567 Cuffent Year 151 April 2024- Marth 2025 642 Scope I Itonnes C02e • Combustiosl of ga5 Scope 2 Itonnes C02el •Elertricity linclude5 T&D losses) o Location-based o MaTket-based Total Gr06$ C02e baged on above (ICO) Intensity Ratio Itc02) 525 1.105 Ll&Y OAn03 Notes.. • &ope l.. Emission5 aswriated with our direct activilie% 5uth as heatmg. • Scope 2.. Emissions related to the elertricity we purchase. i£3110ft.based' represents the C02e intewity of our 5ite$ based on thefvel mix ofthe NatIonGrid.,mdrkd-b#sed,TtPets theelfftricity wehavepurdwsed, which isl(K)% REGO.backed renewable. 25 The Chatham Historic Dockyard TTUSt
Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March 225 Carbon Emission$ Data Previous Reportins Year Current Year Iii April JLI- 31st Marth Ir24 191 AprKI Ir24- 31$1 March 2Tr25 The Chatham Historic Dockyard Trust Energy Consumption Totsl energy cortsumed (kwh) . Electriaty Natural Gas The Chatham Historic DkYard Trust Electricity Renewable 0/0 Total electricity which is renewable % The Chatham Historit Do¢kyard Trust Natural Gas Carbon Offset Yo Total natUTa] gas which is cartM)n offset % 239339) 3.LV)7B30 1.604 35]254 loo% l(M)% 26 The Chatham Historic D£*kyard T1
Statement of Responsibilities of the Trustees For the year ended 31 March 2025 The Trustees are responsible for preparing the Strategic ReporL the Truslees. Annual Report and the financial ststements in accordance with appliuble law and Tesulatitin5. Company law require5 the Tn prepare financial 51atements for eath fiTwKial year in accordance with United Kingdom Generally Accepted Accounting Prarttce (United Kingdom Accounting Stsndards and applicable law). Under company law the Trustees must not appTove the financial statements unle55 thry are satisfied that they give true ond fair view of the slatÈ of affaiys of the group and chartty and of the incoming resources ond opplication of rtsources. irKludtng the income and expenditure, OE the group for that period. In preparin8 these financial statements. the TTUStee5 aTe T4UiTed t. se]ect suitsble accountin8 policie5 and then apply them COL$lefttty. make judgements and accounting estimales th•t are 0$bIe and prudentr stste wr appllcable UK Accounting Stsndards have been followed, suiyect to ony mafErial departures disclosed and explained in the finanoal statemeiiis. and prepare the finaTKial ststements on the going concern basis unle55 it is inappropriate to presllme that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable acotracy atany tin the financial positson of thecharity and enable them ensuTr that the financial ststements comply with the Companie5 Act 2(. Tlw are afso respoDsÈble for safeguarding the assets of the charity and hence for tsklng reasonable sleps for the PTevention and detection of fraud and other Irregulariti. Financial statements are published on the charity's website in accordance with legislation in the United Kingdom goveming the preparation and dissemination of finaJKial Ststsments, which may vary from le$]tion in other juri5dictt"ons. The maintenance and inlegnty of the charity's website is the responsibility of the trustee5. The tn]slees' respon5ibÈlity also extends to the ongoing integrity of the financial statements contsmed therein. Provision of Information to the Auditor In accordance with company law, as Trustees weeonfirni that So far as we ére aware, theTe is no Televant audit inforniation of which theT¥S auditor is unaware: and As the Trn$e5 of theTrust wehdve tsken all the step5 that we ought tti have tsken in order lo make ourselves aware of that urformation and b) e5kblish thatthe TTusVs auditor is aware of that inforniatson. The Trnslees, Annual Report iwotr])orating the Stratsgic Report is approved by the BoaTd of Trustees and $i8ned on behalfof the Trnstees. Admiral SirTrevor Soar KCB OBE DL Chairnun Date.. 30 Qktober 21125 The Historic Dockyard Chatham Kent ME4 4TZ 27 The (hatham Historic L%xkyard Trust
INDEPENDEivf AUDfToR'S REPORT TO THE MEMBERS OF CHATHAM HIsfoiuc DOCKYARD TRUST For the yearended 31 March 2025 Opirrion We have audited the financial ststements of Chatham Historic Dc(kyard Trust (the parent charitsble company) and its substdiaries {the group) for the year ended 31 Marth 2025 which mmprtse the Consolidaled Statement of Financial Activ5ties. the Consolidated Balance SheeL the (]thTitsble coMnY Balarte SheeL the Con501idaled Cash Flow Statement and the relaknl notes. The fmancial reporting framework that has been applted in their preparation is applxcable law and United Ktngdom Accounting Standards. irKltsding Financxal Reporting Standard 102 The Financial Reporting Standard applicable in the UK (United Kmgdom Cnerally Accepted Accounting PractÈcel. In ¢Mr opinion the financial ststrments: ve a true and fair view of the state of the group and parent charitsbIe company's affairs as 31 March 2025. and of the group's incoming resour and application of resources. including its income OTUI expenditure, for the year then eNded: have been property prepared in accordantt with United Kmgdom &nerally Accepted Accounting Practice.. have been PTepared in accordance with the YequiTements ofthe Companies Art ZKkn. Basis of opitiion We Conducted our auditin accord with Inrnational Stsnd)rds on AudTting (UW (ISAS (UK)) and applicable law. OUT responsibilities under those standards are further descriEd in the Auditorfs Tponsibl]itieS for the audit of the financial statements section of our report. We are independentofthe group and charitablecompany in accordan with the ethicaI requirements thatare relevant lo our auditof the financial stsltments in the UK. including the FRC'S Ethi¢al Standard, and we have fulfilled OUT other ethical responsibilities in accordance with these requirernents. We Eelieve that the audÈtevidence we have obtsined is suffiaent and appropriate to PrOve a is15 for OUT opinTron. Con¢luJion8 Telating togoins<on¢ern We have nothin8 to Teport in resp of the followiThs matter5 in relation to which the ISAS ILIK) require us to report to you where.. the tru51ee5' Use of the going concern bas of attounting in the pyeparation of the h'nanciol statements is not appiopriate.. or the trustees have not Oisclos in the financial statements any identified malerial uncertainties that Tnay cast Significant doubtabout the group'$ orcharitablecompany's ability tocontinue to adoptthe goingconcem basis of attounting fora period of at lea5ttwelve months from the dale when the (inla1 ststements are authortsed for tssue. her infornthtion The trustees are responsible for the other Infornkniio The other infoTmalion compTiSe5 the infornwtion included in the tru51ees' •nnu•l reporL other than the fi"nanrial statements and our auditorfs report thereon. thr opinaon on the financial stslements doe5 not cover the other infOrntiOn and. except io the exlent otherwise explicxtly ststed in OUT report. we do not express any fom) of assurance condusion theyeon. Incomiection with ourauditofthe (InlLal$laIents.ourreSPQnsibiljry is to read theotherinformation and, in doirhg so. consider whether the otsr information is mateTTally incon5i5tent with the financial 5tstements or our knowledge obtsit)ed tn the audit or otherwise appears to t* materially mÉsststed. If we identify such material inconsisfrncie5 or apparentm3mal misstatements. we are YÉyuired to dthnnine whether isa material mis5tatementift the financial statements ora material misstsiementof the other inforniation. If. based on the work we have performed. weconclude that there is a matsriol misstatement of this other infornwtion. we ore required to report that facL We have nothing to report in this Tegard. 28 The Chatham Histoiic Dockyard Trust
INDEPENDENf AUDrroR'S REPORT TO THE MEMBERS OF CIIATHAM HISTORIC DOCKYARD TRUST For the year ended 31 March 1125 Opirrions on other matters prescribed by the Companies Ad 21 In our opinioffj based on the work undertaken in the course of theaudÈt the infomtion gwen in the trustees. Teport {incorporating the lstrateghc report and thel directors, report) for the financial year for which the financial sfalements are pryared ts consistent Yiith the financial ststements; and the strateC report and the directOTS' report have been prepared in accordarKe with applKable legal requirements. MatteTS on whith we art r¢qoired to report by ex¢eptio In the lightof our knowledge a1 understsndingof the charitsblecompany and its envirOnmt0btalned in the course of the audiL we have not IdtIrd materRo1 misstatements in thestrategK reportand the dirertors. report. We have nDthing to Teport in YeSt of the followin8 matters where the Companies Act 2XJ6 requtres us to report to you. in our opinion: adequate accounting records have not been ke or returr6 adequa for our audit have not been received from branche5 not Visited by us: or the h"nanoal ststements Jre T1 iti agreementwith tl accounting records and returns; or certain distlosure$ of directors. remuneration Specified by law a not tnade.. or we have noi received all the Information and explanations we require foT our audiL Re$pongibilxties of trllees As explained more fully in Ihe trustees. responsibiIities $tstement set out ort page 19. the tru5tses (who are also the directors of thech8Titsble¢ompany forthe purposes oftompany lawl areTesponsible for the preparab.on ofthe financial ststements and for iing satisfied that thry give a true and fair view, and for such internal control as the tru$lees determine is necessary ttTr enable the preparation of financial 5tslents that are fe from material misststement, whether due to fraud or error In preparing the fAnancial ststements. the tsitstees are responsible for assessing the groups a1 charitsble company'5 ability to coDttnue as a going ¢oncem. disclosit)& as applicable. matters relad to going concern and using the going concern basis of accounting unless the trslee5 either intend to liquidate the group or charitsble company or to cease operations. or have no Tealistsc allernatsve butto do so. Auditof$ Te8poJL8ibAJities forthe audit of th¢ fitt4141 statetnents OUT objectives are to obtsin reasonable a&surdTKe about whether the financial 5tstements as a whole are free from n)aterial misststeme¢)L whether due to fraud or error. and to i55ue an auditorfs report that include5 our opinion. Reasonable assurance i5 a high level of assurance, but is not a guaranttt that an audit conduc*d in accordance with ISAS (UK) will always detect a material misslatement when it exists. Misslaiements c)n arise from fraud or error and a considered material if. individually or in the &g801e, theycould teoson•bly bt expected to innuence theeconomxc decL5ions of users taken on the basis of fanCIal 5tstements. 29 The Chatham Historic Dkyard Trust
]NDEPENDETr AUDOR.5 REPORT TOTHE MEMBERS OF CHATHAM HISTORIC D(KKYARD TRUST For the year ended 31 MaTth 225 As part of an audit in aCCOrdare with ISAS (UK). we exerctse profwional dStst and maxntsln professional $p"(l$M thToughout the audit We also: Identify and assess the risk5 ofmalerial mi55taterrthtof thefinancial 5tstements. whetherdue fraUd orerror. design and perforni audit procedure5 responsive to th05erisks. and obtsin audit evidence thoti5 sufficient and appropriate to provide a basts forouropinion. The risk of not detecttng a material misstatement resulting from fvaud ishigherthan forone re5ultin8from error. a5 fvaud may involvecollusion, forgery. inntIonl omis$ions, misrepresenlats"ons. or the OveIde of internal control. Obtain aTt underslanding of internal control relevant to the audit in OTder to design audit prLKeduTes that are appropriate in the circunreS. but not for the purpose ofexpres5in8 an opinion on the effectiveness of the 8roup's Anternal control. Evaluate the ¥pproprtateness of accounting polictes used ¥nd the reasonableness ofattounting estimates and related disclosures rnade by trnstee5. Conclude the apPTopriateS of the trustees. use of the going concern basis of accountin8 and, based on the auditevidence obtained. whether a material uncertainty exists related toevents orconditions that may cast significant doubt gn the dthritsble company's ability h) continue a% 8 8f>ing rnnceTn. If we Conclude that a material uncertainty exists. we are requiwed to dr4w attenb.on in our ouditorfs Teport to the related disclosures in the finarKial stslements or. if such disclosures are inadequate. to modÈfy our opinion. Our Conclusio are based on the atsdit evidence obtsxned up the dats of our atsditofs report. However. future events or conditions wnoy cause the Clrible cOMnY to cwase (Ontinue as a goin8 coJern. Evaluate the overall PTesentstion. Structure and content of the fwnoal statements. including the disclosures, and whether the h"Trancial statemenis Tepwesent the underlyin8 transactions and events tn a Mayer that achÈeves fair presentation. Obtsin sufficient appropriate audÉt evidence regardin8 the financial information of the entities or business activities Within the group to express an opinton on the corLwlidaled linanci415talements. We are re$pon5ible for the directiiXL supervision and jrforMan of group audit We remain solely resFX)nsible for our audit opiniorL We communica wftth those charged with governance regardin& among other mauets. the planned scope and timing of the audit ond sAsThi(icant audit findings. including any significant deficiencies in intemal control that we identify during our audiL Extent to which the audit was considered capable of drtertinB ifftgulthes, indlldingfraud Irre8ularities. includin8 fraud. are inslantts of non<ompliance with laws aNI regulations. We design procedu$ in tme with our responsibilities, outlined above and on the Financial Reporting CowKil's website. to detsct material misstatements in reskrt of trre8ularities. includAn8 fraud. We obtain and update our understandin8 of the entity. its activitie5. its control envEronmenL and likely future developments, including in Telation to the legal and Tegulatory framework applicable and how the entity is complyin8 with that fvamework. Based on this understrndin& we identify and assess the risks rjf maTil misstatement of the financial 5tstements. whetherdue to fraud orerror. design and Frfomi JudTt PredureS responsive to those Ti5ks, and obtain audit evidence that is sufficÈent al approprtate to provide a basi5 for our opinion. Thi5 irKludes consideration of the risk ofacts by the entity that were contrary to applicable laws and regulations. including fraud. In response to the risk of itregujdribes and nonrycompliart with Jaw5 arKI regulations. including fraud, we desigd prLKeduTe5 which included: Et4uiry of maSeMent and those dr8ed Ylith 80vemae?roUnd actual an4h Potential ]itigation •nd clain a5 well a5 actual, suspecled and alleged fraud,. Reviewing minutes of meetings of those charged with gOVernae. As5essinB the exlent of complian(e with the laws and regulations COTLsidered to have a dired material effect on the financial 5tstements or the operations of the company thTOU8h eryuiry and in5pectiOTI: Reviewing financial stalemetitdisc105ure5 and testing t05UPPOrting documentstt.on to as5es5 compliance with applicable laws and regulatio. 30 The Chatham Historic Dockyard Tntst
YDEPENDENf AUDrroR'S REPORT TO THE MEMBERS OF CHATHAM HISTORIC DOCKYARD TRUST For the year ended 31 March 2(r25 Perfonning audit work over the risk of management bias and override ofconlro]s. Èncluding testing of journal entries and other adjustments for appropriatrness. evaluab.ng the business rationale ofsignificant traractio[lq outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitstio of an audit there is o risk that we will not detect all inEgulariiies. includin8 those leading to a material mi55ta*ment in the financial ststements or non-compliance with re8ulation. This risk increases the more thatcompliance with a law or regulation is removed frrjm theevents and transactions reflecltd in the financial $tatements. as wewill Ee less Ixkely toiwore aware of insknnce5 ofnon-c0mp1tan. Therisk of notdetectin8a material misststement resulting from fvaud is higher than foT one resultin8 Irom error, as fraud may involvecollusion. forgery. intentional omr5sions miSTepTesentstions. or the override of iniemal control. Use of our report This report 15 made solely to the charitable company's memivs. ¥ a body. in accordance with alapter 3 of Part 16 of the Compantes Act 20)6. Our audil wotrk has been undertaken $0 that we might stste to the charitsble company's Mem1 those matter5 we are required 10 51ate to thern in an audi$ Trport and for no othEr purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitsbEe company and the Charitable company's membeTS as a iy. for our audit work. foT this repori orfor the opÉnions we have fornied. Mi£helle Wilkes (S¢nior Statutory Auditor) FOT and on half of Azets Audit &rvices First Floor, River House l Maid5tone Road Sidcup KenL DA14 5RH Date." 7 NovemEer 2025 31 The Chatham Historic Dockyard Trust
Consolidated Statement of Financial Activities Incorporating the income and exFnditure account) For the year erKled 31 MaTch I125 Notes Unrestricled Restrided funds Total 2025 Total X124 Income from: Donations and grants Charilable acttvities Other trading activities Investments 63.(86 6,413x12 2AB7%34 l.X4.1(r/ 12TI.193 ID16,941 6A13,W 6555.018 1037W4 1.933.258 30.527 Other income Totsl income 1.214.107 9.759,615 965.744 Expenditure o Rai5Lng fund5 CharitÈble activities I(Y3B.457 1098A57 1.966.{2 Preservation 10 I87676 3.487.898 387291 681363 3WA67 4.169261 3.624AJ15 3.954.If29 Edu¢Jtion Totsl charitable activtties 6J64.474 1.0&8.654 7.433.8 7578.044 Totsl expenditure Net in¢omel(txptnditurel before gains a losses 8.462,931 i.O&S.654 9531,585 9,544,126 145.4 21,618 Net gains/Oossesl on investmenls Net income lexpendittsrel 19 4301 114301 71,843 14 80.147 145.453 93.461 Tramfers *weert funds 8.Tni N¢t movement in funds 138.919 225.(0 93.461 Fund5 as at l April 2024 I521 17,444,734 19.967J14 19.873 Funds •8 at 31 March 2025 61.499 17J31A15 20,191914 19.967314 All amounts relale to continuing activities. The note5 on pages 37 to 65 forn) partofthese fmarKial ststements. 32 The Chatham HistOTiC Dockyard Trust
Consolidated Statement of Financial Activities Oncorporatin8 the income slatsment) Full comparative inforn)ation the yearended 31 March 2024 Nos Totsl 2024 Total 2023 fund5 funds Income from: Donations and grants Charitsble activitie5 Other trading artivits.es Investments iml.661 I,046,1 6,555.018 1,933158 30527 1451.712 5,691.207 1,677,838 1.3n 6555.018 1.933.258 30.527 Total income 8544.(B3 i.Oll.661 9.744 9,821128 Expenditwe o Rai5tn8 fund5 Charitable attivities I.9É6.l2 L966,(fj2 1.7C4,380 Presetvation io 3.235. 3A)47.366 388 3.624.015 3,954,9 3.025.240 3A56.277 Education Tolal ch8Tilable activities 6,281874 1295.170 7578.014 6,881,517 Tolal expenditure Net Antom{exPendiUre) before sains and losses 6248.956 1.295.170 9J4£126 8,585,897 295.127 (2TJXFJ) 21h18 . 1,236,231 Net Oossesl/gain5 on investsents Net income lexpenditurel 19 7143 (23.1941 1.213.(137 93,461 TrarLsfers een funds (65.2n) &52n Nel movement in fund6 (.238) 93A61 1.213.Q37 Funds as at l April 2013 20.881 17.651972 19A73 18,É40,816 Fwid5 a5 at 31 Mah 2920 2522580 17.44734 19.%7314 19,8T3I53 All amounts late to continuing ¥cbvitie5. The notes on pages 37 to 65 fomi part of these finarKial ststements. 33 The Chatham Historic Dockyard TTUSt
Consolidated and Trust Balance Sheets As at 31 Marth 2025 ConsolTdated Trust Note5 2024 Fixed a$set8 Property plani and equipment Heri>ge assets Invesbment properties Investments in subsidiaries Listed investments 15 1207,785 17533 0554 1.493%66 17.410367 310554 1.187.377 175331148 1,478.636 17,410,367 16 17 18 26.100 701,7&5 26.ItK) 704,165 19 704.165 19.753.122 19.918.952 19,448 19,619,268 Cunent a$8e Inventories 352.411 1.139.951 624.143 255.107 1526.494 432JJ17 261 DebtOTS 1284,741 689.(P8 lJ25,442 420.197 Cash and cash equivalents 1319XII Z116X 1213.618 ILW.3J2 Creditors: amounts falling due within one year IW.7051 0.8(9.138) 307J67 I135$5) .725576) 281.626 Nel cyThent asgets 678233 Tal assets less runent liabilities 20,45L919 1226J19 XI,126A93 19.9)Om4 Creditors: amounts falling due afkn more than one year I2 I2.)0} 1200,0 Provision for deftrred tsx (59AXS1 Net assets .191914 19,967314 I9..493 19,700m4 FTthds employed Restricted funds Fitted Rt88ing House Other 8,121,99) 9.409.415 6354520 9,()XJ.214 8,121.99) 9,409A25 .354520 9.090.2]4 Total restricted funds 17531AIS 17.444.734 17531A15 17.444.734 Unsestricted funds Designated funds Revalualion reserve General . L971334 1.9)35% 246J21 246321 371Ééa 1.951.924 1,886,367 443.154 367.793 1661539 1521 2J95.078 1256.160 Xl,191914 19.967214 19.926,493 19.7CKJJ94 34 The Chatham Historic Dockyard Trust
Consolidated and Trust Balan Sheets As ai 31 March 2025 The financial statements wete approved and authorised for issue by the Truslees in accordance with section 408 of the Companies Art 21. a separate Statement of FinarKial Acttvities for the charity has not been presented. The Surplus attributable to the Trust for the year was £225593 {5)24- Surplus of WJ,463). IrKome attributsble lo the Trust for the year was £8.643.24412)24- £9&s.744>. Admiral SirTTevoT Soar Chairman Company number 018041( D¥lv. 30 (ktober 2)Z5 The notes on pages 37 to &5 forni part of these finanrial sfatEments 35 The Chatham Hisioric Dckyard Tntst
Consolidated statement of cash flows For the year ended 31 Marth 3)25 Noles 2025 2024 Net cash from operatingaclivities 31 &37247 Im83)5 Cash flow from Investing actlvhles Purchase of proFty* plant and equipment Income fvom investtnent property (393.%9) (2J84,2681 21,677 13AIO [7712921 (2.370.458) Cash flow fvorn finanrins actiTritie8 Loan repayments .( .ow) Net in¢reaselldecre•sel in ¢a5h and equivalents U,431.9531 Cash aTKI cash equivalents at the Fwningofthe year 624.143 1056.C86 Cash and (ash eqttlvalents at the end of the ye•r 689m8 624,143 Cash and cash eqwvaltnts at the end of the year RestriCd fund 411220 11,r27 UnTestri¢ted funds 2r/%78 612.416 Cash and cash equivalents at the end of theyear 689.1V)8 624.143 Cash and cash equivalents Comprise rash at bank aTrJ in hand. The notes on pa8es 37 to 65 forni partof these fItiala1 slalements. 36 The Chatham Historic IXKkyard Trust
Notes to the finanaal statements For the year ended 31 Marth 2025 1 Sta$ The Chatham Historic Dockyard Trust {"the Trusf) is an independent charitable tnLSt. incorporated in England and Wales, fornied for the purFW of preserving The Historic [kyard for the pubIic benefit and to promote a wide knowledge of its archaeological. hT5torical and arthiterturdl importance. The Trust wa5 set up in 1984 under the Itrn of a Memorandum of UndeTStandin8 with the tkpartmentofthe EnvironmenL underwhich a ant of£llJXI,O(W) was received to be applied to the principal acttvities of the Trtsst The Trust'scorLstitution is setout in its Memorondum and ArtÉcles of A550ciation. as amended by Special Re501utions on 27 February 2013, 18 July 2017. 24 May 2018 and 24 Novemir 2021 The Trust is a company limited by guarantee. regithred in England, not having a share capitsl, and has a licence to dispense with the word -limiknl- in its title. ID the event of the TTUSt being wound up. the lÈability in re5krt of the guarantee 15 limited to ao per member. The memiws of the TTUSt are thesecretrry of for Defence. the knetary of State for Digitsl. Culture. Media and Sport and the Tntslee$. The Trusvs reg]stered office is.. The Fitled Rigging House. The Historic DLKkyard. Chatham, KenL Englond, ME4 4TZ. and its resistered number is 01804108. DetaiJ5 of the principal activities of the Tnt5t 15 gwen in the accompanying narrative reportin8. 2 Accounting polldeg The principaI accounting policies are summaTised below. Ba%s ofpreyrqtr¢nT The Trust 1$ a publiclefItentity and theGroup is a public benefit grotsp. as defined by FRS 102. The financÈal ststements have ien prepared in accordance with Accounting and Reportin8 by Charities.. Statement of ReconuNended Practtce applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Iteland issued in OctsEer J)19. the Financial Reportin8 Stsndard applicable in the United Kingdom and Republit of Ireland (FRS I). the Charitses Act 2011. the CompanÈes Act 2006 and UK Generally Accepted Accounting Pr¥¢tice. The financial ststements have been PTepaTed under the historical cost conventiorn as mrxlified by the revaluation of investsnent prowties and listed invesknents. G(B8 coffttcern As a charity the Trustees of Chatham Historic Dc<kyard Trnst (CHDT) and its tyadin8 subsidiaries have a duty to consider the fvture resilience of aIl ports of the organisation. The Trnst holds ne£e5sary re5erve5 should there be a need to undertake an OTderly wind down of OFTation5 caused by financial challenges or a change in Iht need forcharitsble services making the charity'$ role reduAdanL CHDT reviews thts SIation on a monthly rolluLg $1$ through cash flow management based on evidence-ba5ed bUs1r p]anrung. Revm of the Tn4sV$ ongoing fin4ncial resilience is considered for 12 months from the date of accounts approval and beyond through regular revie'vs lat board leve4 of the straiegic risk regi%ter and changes to it. The impact of internal. and external factors likely to have a si8rnficanteffecton irtome and expendireaTe key eiementsof onsoinscash flow management and by Èmplication the Goingconcern status. 37 The Chatham Historic Dockyard Trust
Notes to the financial statements (continued) For the yearended 31 March J)15 l Accounting poli<its ltontinuedl Going ¢oMc¢m (cmtimitd) The Trustee5 will continue to review plan% with the CHDT Executive Team to make the necessary ¢hanges to remain within the free reserves level over the coming two years and indeed the life of the current Corporate Flan. The Trust has a strong balance sheet, 50 the Tru5tee5 are of opiruon that the charity will have sufficienl re50urce5 to meet its Itabilities as required. A5 such. they remain satisfi.ed that the Chatham Historic Dkyard Tntst can continue operating for the next 12 months and o¢counts have ten prepared in the knowledge that the Thatham Historic D(kyard Trust is a financially viable organisab"orL DtsdosureexemptionsfvquAITfvng entilies #nder FRS 102 The Trusl is a qualifyin8 entity as defd by FRS I2 and. a5 SUC ha$ taken advantage of the following exemptions.. presenting a ststement of entsty cash flows on the grouDds that the relevant inSoTmation is induded within the consolidated inforniation presented within these finala] ststements: presenting certain financial instruments di5r105ures on the ground5 that the relevant infoTmation is included within the consolxdaled inforniation pyesented wtthin these financi81 stsiements.. and presenting infornmtion concerning kry rnana8emt personnel compensations. B$ ofcrnsoltdtstiort The GTOUP con501idated fncial slaiemenb include the finarKial ststerrnts of the Trust and all of its subsidiary undertakings. A subsidiary is an entity controlled by the Group. Control is the rrtjwer to govern the financial and 0ratIng policies of an entity so as to obtain kneh'ts hom Tts artivities. Any enttties which either tcon. or cease bein& subsidiary undertakings during the year are included up to, or from. the dates oEchan8e of control. re5CtIVe]y. All intra£roup trartsacttorts. balances. income arnl expenses are eliminated on consolidation. In¢orRe TecogNitton Income Ès measured at the fair value of the consideration receÈved or receivable and represents propety rentsl and Service income, admissions income from visitors. gr•nts and donations. Iorne from the Sale of good5 and service5. and inlerest. Income is reco8W5ed as follows.. Property rentsl- on a time apportioned basis. over tl life of the lease. rvices- os the seNices a provided. Retsil sales of 8LKK15- when the sale made. Other sale5 of 8oods- when the risk of ownership passes to the customer. Grants - when the group has met the relevant performantt LTiieria, and the grant can be measured reliably and receiF is probable. Donations- when theGn)uphas entitlemenL the donationorgr#ntcan be mwured weliably and receipi is probable. Interest- &5 it is earned. Any income received prior to recOlt10n is defeTred. 38 The Chatham Historic DDckyard Trust
Notes to the finanaal statements (continued) For the year ered 31 March 25 l Ac¢ountin8 polioes l<ontinuedl Grants Grants are Tecogni5ed in the Statsment of Finartal Activities descriEed above. with any grants received prior to reco8TLition being deferred. In cemain circumstantt gTants may tecome repayable {for example, if the grant funded property ceases be used for a charttable PUTpose5). A creditor is e5tabli5hed whenever it becomes probable that grant will Ertome repayable. Restricted grants received to fund capitsl expenditure a transferrtd to general funds once the expenditure has been incurred unless the resultsnt asset ts restricled as to its iise. in which case the funds remain a5 re5tricled. Depreciation on restricted assets is charged to the appropriate trAded fund. Donated ossets Donated ets and services whtch would otherwise have iwi Purchased are included at the estimated expendire which has been avoided a result of the gift No value is attributed to volunteer time donated to the Trust. Except for the tnitial sift to the Trust other donatsd and servKes are recol$ed at the fair value of the asset or service received. The initial ft to the Trust 15 reCoLed at a (being the nominal consideration paid) as the c05t of valuing the assets ouNveT8hs the bfit of Suth a valuation. Emplryee brnefits The Group provides a range of eTfits to employee5. including paTd holTday amngements and defined contribution pension plans. Short tenn benefits. in¢ludingcomFr6ation for1055 Ofemploy( holiday and other Mn-monetsry benefits. are recosni5ed 0$ an expense in the w(xl in which the service is reIved. The Group operate5 a defined contribution Pla whereby the Group pays fixed contributions into a separate ents"ty. Ontt the£ontribution5 have been paid the Group has no fvrther paymentobligations.ThecontributsorLS are recognised as an expense in the period to which ty rtla. Amounts not ld are $lw in accruals in the balan sheet. The assets of the plan are held separa*ly from the Group in ilependenty administered funds. Expendith Expendire is 0nted foT in the wiod in which it is incurred. Expenditure includes any VATwhich cannot be fully recovered which is Teported as partof eXpendire to whKh it Telate5. Expenditu Telating directly to a partitulaT activity i5 allocated to thatactivity. Indirert costs are classified as support C05Ls, and these are allocated to actrvitse5 on a basis consi51ent with use of the re50urce5. Expenditure includes the estimated value of donab.ons in kind. 39 The Chatham Hi%toric Dkyard TTUSt
Notes to the financial statements (continued) For the year ended 31 Marth 2025 l Aeeountins policies l¢ontinued} Operotiptg leAsts OKeratin8 leases are leases that do not trarfer all the risks and rewards of ownership. Payments rnade by the Group under operatin8 leases are charged to the Ststement of Financial Act¥vits"es on a strarght-line basis over the period of the lease, including payments which are not required to Ee made on a 5traight-line basis. Lth intentive5 given or received are similarly spread on a straTght-line basis over the relevant kase terni. TtLYotiort The tsx expense represents the sum of the tax currenty payable and any deferred tsx. The current tax chaFge is based on the taxable profi.t for the year. Taxable profi.t differs from net profit a5 reported in the proh"t and loss account because it excludes ims of into or expense thai are iaxable or deducts.ble in other years and it further excludes ltert that are never taxable or dedu¢tibIe. The company'$ liability for current tsx is calculated usingtsx rales th8thaVebeenenaC orsubstantively ented by reporting date. TheTn]$Y$activitiesare charitsble and therefore. to the ateni that any surpluses are appld to its chariknble ots, the Trust is noi liable to tax. In addition. its subsidiarie5 incur no current tax charge as all their proh"ts. which would otherwise Ee tsxable. are distributed to the Trust by way of Gift Aid and thus M tax liability ari5e5. Deferred tsx is recognised in res1 of all tsMingdiffere thothaveoriginatsd butnotreversed atthe PortIng date where transactions OT events that result in in obligation to pay more lax in future or a rEght to pay Its5 tsx in the future have occurred ai the wertIng date. Deferred tax is cakulated at the tsx rates that are exptrted to apply in the period when the liability is 5ettJed, or the asset realised. Deferrtd tsx is charged or credid tt) profi.t or l¢)5s. except when it relates lo item5 charged or credited directly to other compreheA5ive incon. in whKh case the defenEd tax is abo dealt with in other comprehensive income. Whilst the tsx expense is immaterAal. it is reco8nised as a part of the cost of the relevant artivity. rather than being disclosed separalely in the Ststrmentof Financial Activitits. Property exp¢Hdith The Trust has a suEstsntial property tA)rtfolio whtch irKludes a significant numEer of scheduled ancient monuments, listed properties and other historK properties. On the irKeption of the Tr¢ many of the properties were in a ststs of disrepair and were not funrtronal. The Trust is Pursuing a programme of works to bTing all properbe5 into productive use which results in significant expenditure on the properties. Expenditure on the existing propertÈes is capitalised las either part of PToperty. plant and equipmentor herilage assets. as appropriatel when the expendire results in incrementsl future benefits kn the Trnst or replaces a previously identified component. Incremental benefits may •Ti5e through brin8ing a PToperty into Use lor back into usel, throu8h reduced fure maintenanceexpenditure. or throush the ability to 8enerale4ddilional income. direLtly or indirectly. in the futUTe. Expenditure which not meet this criteTia is writlen off as iTurrLXI. 40 The Chatham Historic Dockyard Tryst
Notes to the financial statements (continued) For the year ended 31 Marth 3)25 2 A¢¢ountins policies (continued) Propety, pidnt tmd equlpmenf Propety, plant and equipnnt is ststed at c(6( Iw accumulated depreciO1ion and accumulated impaimlent losses. Cost comprises the 0ri8inal purchase price. subsequent expenditure capitslised in accordance with the policy on PTopertyLrpendith, and expenditure directly attributsble in bringing the asset to its workin8conditson for its inlended Se. A5 noted above. the asseis transferred to the Truston its forniation are recorded ai a. this being the nominal cost of these assets. tAnd and assets under constructÈort are not depreciated. Other &s5ets are depreciated on è straight line basis 50 as to write off theirc05t overtheirexpecknl useful live5, usingthestrai8htlinemethod. The cOmpnICale8or1e5 and annual Tates used aye as follows: Structural work5 to buildings Roofs 2% ComputerlAV equipment Other fi.1Te5 aTKI fittings PIant and machinery Motor VehleS 20% io% 4% Shtps refurbishments Exhibition equipment Galleries Assets under constrnction io% 6.6fA io% io% Notdepreciated Subsequent expenditUTe which relatss lo either the Teplacennt of previously capitslised component or parl of component or the enhancement of the asset which results in AtKrnnental futyrebenefits. is capAtslised and the carryin8 amountof any replaced part of the asset is derecognisd. Hu¥thgeAssets Heritsge assets are tsngible and intangible assets with hisloric. arbstic scientific. technol0cl. geophysical. or environmental qualities that are held and maintained prirKEpally for theircontribution to knowled8e and Culre. As a charity with preservation as one of its objeets, in accordance with the X)RP, the Trusys heritsge assets may irKlude a55ets which are notaccessibJe to the public. The Tntst classtfies the follow¢ng classes of assets as heriiage a55ets." The land and building acquired from the Ministry of tkfence on the inception of the Trust Capitsl works to the Stru¢Tr of its h]Skniyc buildings. Its various collectiOA5 of artefacts. exhibits and h1$twal archives. Items of plant at)d machinery of historic importarKe. notsbly the three ships Currendy. all the Trn$Ys herilage assets ¥Te tangtble 4sts and are ¥ccounted for in ¥CCOTdance with the accounting polÈcy for proFty. plant ad equipment as detailed in the p)liry on Property exFxdithre. The Tntstees consider the cost of obtaining a valuation of donated herits8e wouId Outwei the lnefit ofsych a valuation. 41 The Chatham Histori¢ Dockyard Trust
Notes to the financial statements (continued) For the yearended 31 March 2025 2 A¢¢ountins poll¢ies IcontlDMed) ImprrimieNI At each F)erÈod end dale. non-finanool ¥ssets IcompTising propety. plant and equipment and heritage as5ets} are assessed to determine if there are indicatrjrs that the assets DUY impaired in value.. if there are suth indhcatOTS of impairn)enL then a comparison of the assevs carying value to its Yecoverable amount is undertaken. Any exeess over the recoverable amount is r08n1$ed 0$ an impairment 10$5 •nd charged a5 exPendEre in the Ststement of Financial Activities: the carrying vaIueof the asset is reduced ppropTiately. The recoverable amouttt of an asset is the higher of its fair value tess thsts to sell and its value in use. Value in use for the Trusvs properties and other non-FAnanoal assets held forcharitsble puryx>5es and which arefulfillins the charitsble purpose for which they weTeacquiTed. 1$ based on the depTeLiated rePlament¢0st0f the asset. Forother assets. value in use 15 defined as the net present value of the fvture cash fknws befo interest expttd to 8enerated from the assets. For financial assets (comprising trade and other debtrjrs) carTied at cost less impairn)ent. the Jmpairnnt loss is the difference betwn the &ssÈts Carrying amountand theEst estimate of the amountthatwovld Et received for the asset if it were to be sold at the Yerting da If an impairnlent loss subsequently revernes. the ¢arrying amount of the assets is increased the revised estimate of their recoverable amount but only to the extent that the Tevised carryingamountdtts notexceed the carrying amount that would have tEen determined (net of depreciation) had no impairment loss E*en recolSed in prior period5. A reversal of an impairment loss is recognksed in the Ststenwnt ofFinancio1 Adivities. lrtv¢slnTht Pro118$ Investment propertses. which are properties held toearn rentsIs and/or for c•pitsl appreciation are initially measured at cost and suiwuently at fair value. Revaluation surpluses and defKits are rwisgj in net tncome. ItrTuestTrrents Investments in subsidiories are 5tstrd at cost less a¢cumubted irnpairnnI 10sse5. Other investments are slated at fair value with movements thrw8h Income and exFaifvre. Ixvtntories Inventories arestsled atthe lowerof costond netlIs#blev¥1Ue. lSthee$tt.rn8ttdStl[insPrice le5scosts tocomplete and sell. Costi5 based on thec05t of purrha5e on a first in, fiT51 outba5is. Ateach reporting date, inventories a assessed for tmpalrnnt. If inventory is impaired. the carrying amount is Teduced to its selling price less costs to compIete and sell. The impairnient is recognised immedialely in profit or lo. C4sh and cqsh equiwlents Cash and cash equivalents comprise cash in hand. cash Jt bank and bank deposits. Cash equivalents are highly liquid investsnents that are readily convertÈble to known amounts of cash without Si1f1cant Ti5k of change in value. Ban overdrafts. when applTcable. are shown within borrowings in cyrrent liabiltties. 42 The Chatham Historic Dockyard Tnt
Notes to the financial statements (continued) For the year ended 31 Morch 2025 2 Accounting poIicies Icontinlled) Prtirrisions wid contingenaes Provisions are recognised when the Group has a present legal or constructive obligation as a result of past events." it 15 probable that an outflow of resources will Ee required to settle the obligathon: and the amount of the obligation can Ee ests"mated reliably. Curyently. the Group has no provisiors. Contit)gent liabilitie5 an%e from pastevents when either. It 15 only possible that an oblxgation will arise and when the eXi$len or otherwise of the obligation will Ee confirn*d by the OCCUTrence or TfftL-LKcurrentt of unttrtain fure events rM)t wholly within the group's control.. or. An obltgation has arisen. but a provision is not reco1$ed iYse either il i5 not probable that there will Ee on outhow of resources or the amowit cannot reliably nwsured ai the reporting date. contin8entliabilitie5 aTedi%dosed in the financxal stslements 1 theprobxbilityof •n outhow ofre50urces isremote. Contingent assets are not recognised. Contingent •ssets are disclosed in the finarKial 5tstements when an irolow of economic Imelits is probab. Fin8nool irtstTumertts The charity only has financial assets and financial liabiIities of ¥ kind thatqualty as ba$Tt financial instruments. Basic financial ir15tThnts are inib.ally recognised attra(tion value and subsequentEy measurtd ai their settlement value. Thecharity has elected toapply the provisions ofSeL-tion 11 Basic FInarla1 Ir6truments' and 12TrheT FinaTKial itrUments Issues. of FRS102 to all of its financial instruments. Fund5 Desi8nated funds are unre5tn.cknl fvnd5 which theTn have ring-fenced fora pa¥liculor purpse. TransfeTS to and from the desi8noted fund$ are recogni$ as and when dlded by the Trustees. Restricted funds are funds subFct to 5peofic rtstrirtio imEwd by donors. the nature of the appeal orother reasons. Unrestricted fundscomprise the accumu]alEd 5urplusorddiLltor recOgned in incomeand expenditure aftsr transfers to other reserves. 43 The Chatham Historic DKkyard Trust
Notes to the financial statements (continued) For the year ended 31 March 225 3 Key jttdgem¢nt$ ond soMr<eg of estimalion un¢ertainty The preparation of finanaal ststements in coT)fom)ity with generally accepted accounting practice require$ management to make Judgements and estimates th¥t¥ffect the reported ¥mounts of assets and liabilities as well as the disc105ure of contingent assets and liabilitie5 at the reporting dale and the repOra amounts of enUeS and expenses during the reporting period. The estimates and a&sociated assumptiorLS are based on historical experience and other factors that are coThsideTed to be Televant Acbjal results may differ from those estimaie5. Critical ]lldg¢m¢nts In preparing the finala1 StstsMts. the following judgements which have. OT could have. a material impact on the financÈal statements were madv. ClassifittOn ofpToperty trpendilure Expendtture on properties is analysed a$ eithergiving rise loan assetorexpendituTrwhirh is written off a5 an eXPee when incurred, depending on whether the expenditure results in an incrementsl tenefiL or noL The assessment of whether there is futUTe nefit require5 judgement A key aspert of thejudgement whether the expenditure enables the Trust to 8ain 8reaieT use of the properties. aAssificution tsfpTopertie$ 4$ imYs17llentPTopeThes Investh)ent properties are properties which •re held to generate incoTh or capital appreciation rather than for their contribution to culture or for the provisAon of setrvices. As alj of the Group'$ properties •re within the boundary of the historic aCre site and are accessible to a certain extent to the visitors to the sile.. therefore the ¢aWrisation of any property J$ an investment proFerty Tequires the exercise of iudgernent The Trustee5 consider that the reversionary freeholds of the residential estsie should be classed as investtnent properties a5 the Trust has no ri8hts to use the properties and the freehold reversions are kld to provide an iwjme slwm. Property comprnenls The Group accounts fr)t its expendAthJre on Pro1y. pJant.•nd equipment using coMpont accounting. Under componentattountin& theproperty is divided intrj thosemai)rcomwJnents which areconsidered tohavesubstantially different U5efuleconomic liYe5. Judgementis used in alk<ating property costs betweencomponents and in dermining the useful lives of each component The Identsftsort of suth components is a matter of jud8ement and may have a material impact on the depreciation charge. 44 The Chatham Histor¢c DrKkyard Trust
Notes to the financial statements (continued) For the year ended 31 March 2025 3 Key judsements and source5 of e]MatIon ttn¢utainty Intinued) Property imFttinMrnts It is necessary to undertake an lmpairnt assessmertt Jf theTe are any indicators of impairmenL the Èdentification of such indicators TequiTes Judgement The TTUStee5 CODsider that for proFwties used for chaTit¥ble purp05e5, the key tndicators of irnpairnient are the extent to whith the prorty eonlinues to be used for its intended use, any forecast future reduclions in use. and the physical condition of the proiyrty. During the year. the Trustees judged that there were no indicatoys of Impalrnntand so no Tequirennt to undertake an impairnYnt review. lrrilial&ft to t1 Tn1 The initial gift to the TTUSt has not been valued a$. in the TnLsiees' iudgemenL the cost of obtaining suth • valuati which would Ee subiedive and possibly vnreliable. would OUtweh the Eenefit of suth a valuation. Recognitton of3Tallt income Grant income is recogrtised. inler aIia. the Trusthas metany critrria of $ubstsnce required of it under the relevant 8rant agreement In the case of Heritage inttery Fundin& TTUStee5 Corlder that the receipt of perniission to stsrt is the only criteria of substance and thef0 rwise grant Inco once that perniis$ion h•s been Teceived. The DCMS provides fvndAng for specific years.. in the judgernt of the Truslees. the tern of the grant are such that the Trust does not have prior entitlement the funding. Contingent assets &xd Iwbiltties The classification of assets and liabilities contingent requires theexerciseof judgement as to the probability of fulure cash flow5. In the case of the continwt liabilitie5, in theTnstees' judgement any luture cash flow5 would arise Irom actions of third parties over which the Trnsthas no or limÈted infiuence. and 0$ such no pmyision is needed. Re5tricledfvnds relahng to rAprlA1iOc¥dlIUIE Restricted funds rtteived to fund capitsI eXnd1]It are transferred to general funds once the expenditure ha5 been incunEd unless the resultsntaS5et is restrirted as to its use, in whichcase the funds remain a5 restricled. The asses$nt of whether an a55et is re5tri¢knl a5 ID its use require5 the exercise of judgement in as5e55ing whether the tern of the donation(sl which funded the asset prevent the Tt from using the asset for any of its geiieral purposes. Where the Trustees constder that this to be the case. the entire cost of the asset is classed as restricted and all OF the related fwids are retained as restricted funds. The corollary of this is thai the 5uE6equent depreciation of the assets is deemed to be a restricted cost Critical e4imate$ lffve5tmelle propety vdualions Invesbnent propertie5 are reYo8nised at their faiT value. which is estimated as ]ng the anticipated prLwds from fUred]sPo$a[5, based on the immediate past prowty sales. The timing and actual pr(*eed$ of any future Sales are uncertsin and may not refiert the past hIsry. 45 The Chatham Histori¢ t)ockyard Trnst
Notes to the financiaI statements (continued) For the year ended 31 March X)25 Key Sudgements and sour<es of eslimation uncertaitity lttintinued) Usefyl lives Depreciation of a55ets is calculated based on the cost and the estimad useful lives of the assets. The useful lives of property components (for example rwfs) areestimaled based ¢)n Yelevantconstruction data. C4rrying lUeS The carrying amount of the ossets and liabilibes affecw by the above judgements and e5timèiES are Set out in the following notes. 4 Inrome from dowlions in¢luditig8rants Unrestricied Restricted Total 20 Tot•1 224 Government grants . Department for Dt8ilal. Cultur¢ Media & 4 - Medway Council - Arts Council Enand {A Foyle Foundaiion The Headley Trust Garfield Weston 311.OJO 366.219 249508 915m8 9158 Other grants" spOrrshiP Donatsons Legacies 14.213 19.079 33292 20,434 41%28 41m8 19.780 1.214.107 12T7.193 1,046.941 5 tncome from charitable actlvEtles 224 Preseryation- rent& service charges Education- visitor admissio 4539067 lJ73,935 4,.302 1,724,176 6.413N2 6.554,478 Income from charilable xts"vities arises from tt provision of service5 and is fuuy unrestrlcd. 46 The Chatham Historic Dkyard Trust
Notes to the financial statements (continued) For the year ended 31 Marth Ir 6 Intt+me fvom other trading a¢tivities J)25 24 Income fmm sa]e of sdS Retail- Shop Sales of rope producis Catering Income fvom provision of services Weddings & other functions Property income Other miscellaneous income 227256 517m9 667.141 219568 4340 725.795 444,766 148J12 33?30 326,154 170AS1 1037J34 I,J3,258 7 Incon from investments 2025 2024 Fixed intereston cash deposits 5.286 30.527 8 Future ineoThe fvom nOn4ceab1e operaliDglea 25 2024 The Group is due to Ye1ve the following 8moiinis uThler non-cancellable operating leases.. Due nextyeor Due in 2 to 5 year5 Due after more than 5 years 1101,641 7.772540 6.730,951 1833,470 9.095,588 7,529,551 16,tlS.132 19.458.6C Under the tern of le. the Tentsl income i% SU to Peri1c review. The leases give the tenants no Tight of acquisitson. 47 The Chatham Historic th)ckyard Trust
Notes to the finanaal statements (continued) For the year ended 31 March X125 9 Expendittsxe on raiging fonds 2025 2024 Incurred by the Trust Incurred by the trading subsidiaries Depreciation 747.961 1,1IOJ90 5.9n 684.176 IW.139 1.864228 234,129 1.731.378 Support costs allted to raising funds (see notr 12) l(B8,457 1.9fh.082 10 Expendxture on preservation 2025 224 Stsff and associated costs Maintenance costs 556. 436,469 1.140519 Utilities 7632] 61.244 438.039 4.456 Other dire¢tcosts Depreciation Allocated supportcosts (see note 12) 283.246 434.767 400,129 3.2&3ffi7 3.624.015 Preservation comprises the cost of Tepair. rna1nknan and restoration of the historic buildings and ships of the Dackyard and other maintenance. 11 F4enditure on edutalion 2025 24 Staff and &ssociated costs 1,624.4)9 I66528 513253 48,049 188.182 728.240 1,415,179 Other direct costs Depreciation Other project ex111Te Maintenance Allc<ated 5UPPOrtcosts (see note 12) 8.104 67.075 233NI 758.704 4.169,261 3.954,029 Education exPendity comprises the cost of the maintenance and rtperaiion of the galleries and exhibits within the DL*kyard. 48 The thatham Htsioric DKkyard Trnst
Notes to the financial statements (continued) For the yearended 31 Marth 21n5 12 Supp¢Jrt Costs 2025 2024 Staff and associated costs Office costs Professional fees 37J42 .244 4L7T7 241,&38 28.591 914J66 J,514 8J,6n 237.693 46.879 18.914 Insuran$ Other costs vernance costs 1.361825 1.393.537 2025 ' 2024 Supportcosts are allocated as follows= Raising funds Preservation 234.129 41K),456 728.240 234.704 4.129 758,71)1 Education 1.361825 I?9337 Support Costs compnse the manasement Costs of the Trust and its charitsble subsidiaries and site security Costs. Management costs comprise the Senior Executive and FinaTKe functions (including Personnel and IT 5UPPOrt}. security comprises stsff and other costs in resirt of the provision of 24.hour 5Unty Eor the SI for the Eenefil of the T( its tenants and residents. The bases of apportionment utilised are as follows: Trustee expenses and security - equally between the t¥ chaTitsble aLlivities. Management C05ts- in accordare with stsff rtumTr*. 13 Wases and s•Jaries Grottp 2024 Wages and salaries Social security Costs Perfjton scheme- defined contribution scheme 3.439.170 301,487 195fi27 3.084.300 261618 189,647 3.936.Z84 3.536565 TrnsE 2024 Wages and salaries )cial security costs Pension scheme- defined contribution xheme 3X>41.219 Z74,O)8 179 1735. 174,560 3,495.( 3.148,405 49 The Chatham Historic Dockyard Trust
Notes to the financial statements (continued) For the yearended 31 March 13 Wases and salarid Icontinuedl Group Trust 2025 Number Average no. of persorLS empIoyed: 2024 NumEer 2024 NumEer Number Preservation 24 24 24 24 Education Ropemaking Cateiing & retsil Support 26 11 io li io 145 150 145 In addition. volunteersol$tuTFst1n undertaking its 4ctivities,' detsils are prOved in the Tru5tees' Annual ReporL The numEer ofemployees whoseemoluments aUnted to over£.( in ttyear was as follows.. 2025 Numlrr 2024 Number £60,(NM . £70,( £70.(MM . UO,(X ££0.] . £90.(m . Contributio1 in the year for the provisionof money purchase tnefits to higher paid employees totslled .283 {2024: £48.n81. During the year, the TTUSt irKurred Teorganisation costs of £Nil (24. k) The ChaArman of the Trusiees is entitled to receive remuwatioD from the Trust for services provided, as perniitted by the Memorandum and Article5 and approved by the 0rity Commission. The (]WiTrnan's emoluments for the year were £27A05 For Sir Trevor12024- £28.988 For Sir TYe¥orl.. thi5 rernurteration is not pen510nable. The Trnst chooses to pay the Chaimwn as the role significantly exceeds that of other Trustees. No other Tru51ee5 received emoluments. Expenses reimbutsed to 3 (2024- 4}Trustees in respertof thecostofattending meeb"n85 and other reimbursed expenses amoun*d to Q45712024- £5,025). Key management person1 are those persons having authority and re5pJnsibihty for plannin& directing and controlling the acts"vities of the TrusL direcdy or indirttgy. induding any Trustee. In the opinion of the Tmst kry manasementpersonnel the TrSlee$ and the senior managen. Key management remuneration was as follows: 2025 2024 Key management remuneration 585161 585,192 50 The Chatham Histr)ric Dockyard Trust
Notes to the finanaal statements (continued) For the year ended 31 MaTch 2025 14 Net In¢oxnellexpenditurei 2024 Net incomel(expenditurel is stated after(har¥. Depreciation of tanBible a55ets'. Property, plant and equipment Herits8e assets IProfit)/Loss on sale of fixed asgets Auditorfs remuneration: 389.022 568,79J I253} 561.762 - Audit ITrus1) - Audit ub$IdLarie5I Income received under noTrcancellable oTating leases Operatin8 lease charges 19.925 14.ICiI 3.431.126 7.661 I9.XI 13,305 3.174,(Yi2 3.722 15 Tansible red a8sets- Property plant aDd equipmtnt Fixlures. fittings and equipment Grottp Galleries Totsl Cost l April 2024 AdditiOIIS 8.176.776 7.279.154 18514 15,456,030 102,498 (83.19)) Disposals (83.19)) 31 Marth 2025 8.171561 7201768 15.475J29 Depreciation l April 224 Charge for year On disp05a]s 31 Mar¢h 2025 7,3L72,9TJ 6,659.191 183.160 13.962.164 389x122 (83,6421 (83.6421 7,425.193 6142351 14.267 Net book valtte 31 March 201 747J&8 460.417 1,207,785 31 March 2024 873.8 620,(h3 1,493,866 51 The Chatham Historic Dockyard Trust
Notes to the financial statements (continued) For the year ended 31 March X)25 15 Tangible fL¥ed a8gets- Pmperty plant and equipment {<ontinlledl FIXre5. fittings and equipment Trnst Galleries Total Cost l April 2024 Additions Disposajs 8.ff26.628 67.826 (&3.IgJ) 7,279.154 23514 15205A82 91.340 183,1gJl 31 March 2025 8.011.255 7J01768 15314m3 Depreciation l April 2024 Charge for year On disposa]s 7.168.055 I995 183A51 6.659.191 183.IfAI 13127,246 383.045 {83.645) 14,126,646 7,284295 6J42J51 Net book value 31 mCh 2025 460.417 1.187.3Tr 31 Match W24 858573 620 1.478.&86 As part of the tern of the heritsge loitery yanL thejp is ¥ chaTge in pIace over the fit riwng house. 16 Heritage assets Freehold land and buildin8S Collertior and aracts Group and Trnt Ships To] Co l April 2024 Additions 24.298.453 649153 3J44A2 144. 27,787,095 691.4n 10.418 32.1 31 Mah 2025 24.7 3J55. 176J 28,478566 Depreciation l April 2024 Charge for year 7.031 567.748 3J44.642 10.376.728 31 March 20 7593A34 3245ffl4 10.945518 Net book value 31 March 2015 17J47.6T2 9J76 176.tA)) 17,533,048 31 MaTch 3)24 17.266J67 144X 17.410.367 52 The Chatham HE"51oric DDckyard Trnst
Notes to the financial statements (continued) For the year ended 31 March 2025 16 Herllage Sets Itonlinuedl No value was attribtsted to the assets transferred to the Trnst on its tteation as the cost of obtainins such valuations would not be cOmmeUrle with the neffits to the user5 of the accounts and. in any evenc given the uniqueness of many of the assets transferred. a Teliable v¥lu•tion may be Impossible to obtsin. The hen'tsge a$sets comprise the Trusys freehold land Ind butldin8s. the ships, ilems of bistoric plant and equipmenL the museum collections. art and photographs and the archives. The heritage assets reco8nised wmprise capitslised eXpendIre on enhanctng the utility of the historic proFthe5 arkd expenditure on a5ts which have been purchased since the incepb.on of the Tnst The assets include: 47 5tructure5 desisnoted as kheduled AwKient MonuJTnts and 54 li51ed buildin8S; two ships and one submarine.. large plant and equipment. includin8 the roFe manufaCrIng machines. crants and ntal working plantr over l(X).(KKJ items connectrd to the history of Chatham Dockyard and the Royal Navy at Chatham. They range from small lteTh of personal epheffi- a dockyard matey'5 old cigarette box- to HMSCavalter. the Royal NavY$ tsst&cond World War destroyer: over 20.(XJO photographs dattng from the very earliestyears of photography. ma1Y depicting Chatham Dockyard at work and ships of the Royal Navy on the River Medway: over 150 works of art inrluding oil pJintin85. WatercolOu and prin15. Their conlent wan from topographical views of the dockyard to portraits of naval peTsoYmel: 50 modeb, mainly of naval ships.. over rnathll toob all of wlu.ch were originally used in the dockyard forshipbuilding and repair: over l(Kl ilems of naval ordnance datin8 from the sevenieenth to the Iwenbeth centuries and includes guns. torpedoes. mines and mortaT5.' and over 10.000 iterns in the archtve collettioTh mainty diKuments relatin8 to naval and dockyard corresponderKe and to individuals. naval seiCe. Whilst the TTUSt would like to a¢gUTre further assets to add to its collections. the main focus of the Trusf s efforts has been- and wtll be for the foreseeable fvture- presetvirts the various buildings. Tr) this end, the Trust ha5 a long terni maintenance plan for its buildin85 and a shorter term plan for bringing unused buildings into use through appropriate refurbishment work. However, Kn the ye¥T. the TTU5t was able acquire a model submartne and a white en5i8n: the cost ol these oew assets wo$ less than the de minimis ¢apito1isation threshold. All a55ets have been cjtalogued in order that they can be properly managed and all coIlections aye stored in such a manner to preventany detertorab.on in theircondition arnl to ensure that they are phy5icaIly secure. The buildings, the ships, strncturesand heovy plantaTeaU accessJbIe to visitOTS to the iknckyard {although the publiccannotobtsin acce5S to the interior of Certaiti building$ as they ¥Te iti use). The collections are acce$5ible kn the public through the Trust's museum tb)se ite noton show are made accessible to Yeseard*ts on requesL The Trust does not eXt to disPJse ofany of its herita8e&ts. 53 The Chatham HistorÉc Dockyard Trust
Notes to the financial statements (continued) For the yearended 31 Maffth JJLS 17 Inve$lment Properties Group 2024 l April 310554 310554 31 March 310554 310554 The inve5knent pmperti¢s Valued by refererte to rental yield e5tsblRsl by recent sale5 of PrOrtIeS as determined by independent valuer5 and applying that yield to Tentsl inwme stream from ongoing investment pmperties. The directors h¥ve carried oui th)t valuats.on at314 Marth X125 and the revaluation 15 L410,554. 18 Inve8tments- shares in sttbsidiary eompanies Share cgpital Totsl ]Èt April 24 and 31 March 2)25 26.JOO 26,1 The subsidiary companies at3J Marth Z)Z5 We wholly owned and re8isTed in England & Wales and are as follows: Name Master Ropemakers (frading) Limited Chatham Historic Docky4rd ffrading) kn"mited Historic Dockyard Property Limited Company number Adivity In651fA) Non-tradilional rope sale5 Retail & catering Residenii•l property management Property development DnrmAnl 983754 02331347 Historic Dockyard ProiW121I15) Limi Historic Dockyard Property12010) Limitrd Mas*r Ropemakers Limited (65381VJ 07112492 Dorniant The registered Offi of the above sub5idiarie5 is The Fitted Rig8ing House. The Hisknric Dorkyard, Ch¥tham, Kent England, ME4 4TZ. 54 The Chatham Historic Dockyard Trust
Notes to the financial statements (continued) For the year ended 31 March 2025 18 Inve51menl8- shares in subsidiary companie5- Trllst Icontinlled) Results of adive subsidi•Tie$ Chatharn Historic Dockyard (Trading) Limited Ma51er RoFemaker5 (Trading) Historic Historic Dockyard DIKkyard Propety Property 2Crf)5 Limited LTmited Ye¥r ended 31 Mareh 2025 Turnover Expendittire Other income Distribution kn theTrust 426x42 1375,Q37) 106.730 6,049) 1,192,9)4 Ilm9,860} 0.997) 151.VA) (lo,) I).681) (153.0441 Result for the year AS at 31 March Assets 130. D05.420) .135 1%.035) Z33246 1213.1461 Creditors and provisions 186.&rJ) Net assets 247.321 100 20,1 Year ended 31 Mar¢h 3)24 TumoveT I310 01.229) 127.984 6.36T) 1,119,830 (974.890) Expenditure Other income (3fJ.9431 353 Distribution to theTrust (35JCP)) IU81) 1111,617) 044.9401 Result for the year As at 31 Marth 24 A5$ts 128.468 03,468) 316,440 (69.119) 254 Creditors and provisions I,905) (233.9451 Net a55ets 247.321 i) 20,1(K> 19 Investments Group 25 Trnst 2025 2024 Listed investm¢nts- ¢omtrtott irtvestment fur As at l April 2024 UnrealA5ed Train/lloss) 71M.165 2322 704.165 2222 n3 11430) {2.430) A5 at31 March 2025 701.735 704.165 701,735 704,165 55 The Chatham HistorK tknckyard TnJst
Notes to the financial statements (continued) For the year ended 31 March 25 19 Investments l(ontinued) Listed investments comprise Group Trust 2025 X124 2024 Investsment Fund 301586 138m9 264 296yX) 149.932 255,213 Property Fund Global Equity Fund 149.932 255213 138029 20450 704,165 701.735 704,165 Historical cost 400,(4)O 20 Inventories GTOUP Trnst a124 2024 Raw materials and consumabIes Goods for resale 161642 ia3.021 IfA)J49 I9]62 162,642 465 Ico,n4 345.6&8 351411 255,107 261.563 There 15 no significani difference between the replacerrt cost of the inventories and their carryinE amount Inventories are stated after provisions for impairment of £12214 IIY24- a3.9X). 21 Debtors Group J)25 Tt 3n4 2024 Trode debto Amountowed ty subsidiary undertskin8S Other debtors 319X 263,931 3W.467 300.478 285.556 128.109 611.299 127.a32 15162B 618.424 Pwepayments and aCCed income 832,067 1.284.741 1.139.951 1526.494 1,325,442 Amounts above owed by Group vndertaking5 are unsecured. Inte$t free. have no fixed dale of repayment and ère repayable on demand. 22 Cteditor& amounts fallitig due Thrythin one year Group Trust 2024 Other loan 150.lm 5453)5 72,078 487,9)3 365329 150.(XX) 569.724 59.IKfj 4.147 ' 550.112 150,IKXJ 497505 72.078 485.694 330,1 is0.> 521.651 59.065 474.752 520.1( Trade creditors Taxation and sc<ial security OtheT treditOTS Accrua15 and deferred income (see note 24) 1.620.705 I%Cg.138 1535J85 1.725.576 56 The Chatham Hisiori¢ D(xkyard Trust
Notes to the financial ststernents (continued) For the year ended 31 March 25 23 Creditors amount5 fa]linsdue after Thore tlwi one year Grnup 2) Trust 20Z5 3)24 2024 Other loan 21X)AJLKI Due within one year Due within 1- 2 ye8TS Due within 2- 5 years 150Its) Icox 150J 150,CO) Ico,c I.[1x¥ 150,(KX) 350.(( 350,1 350.(K The South East Local Enteryrise PartrteTship (SELEP) loan is repayable by MaTch X128. 24 Deftrred income GTOUP Trust 24 2024 Balance at l April Amount Telea5ed to SOFA Amouni deferred in the period 156.796 056,7%) 85.489 156.796 56,796) 85,489 125,839 1125,8391 156.796 15.&391 156.796 Balance at31 Mawh 85,489 156.T 85.489 156,796 Deferred incorne principally relate5 to advanceevent ticketsales aTMI pre-billed rents. IS Deferred tax GTOUP Trust 2025 )24 2024 AA$ing on property revaluations: At l ApriI At31 March Deferred tsx 15 cakulated at a rate of 19% (2024- 19%). 26 Contingent liabilities Within the Histori¢ Dockyard there are 47 structurts dtsi8naled as thduled Ancient Monurnents and 54 Listed Buitdings. The Trust has a respoTLsibility and liabtlity remedy any slate of disrepair of the Listed Buildings under the Planning IListed BuÈldings & Conservation Areas) Act 194). Whilst the Trust conttnues to maintsin these structures. Lt may have insufficient funds to cany out the fb'.-scole repair of all the structures shotsld the appropriaie notice EY 5eTved upon the Ttee5. To date, no such notice ha5 E£en served. Certain grants re]Ved by the Trnst forc¥pitsl works within the Historic Dockyard may, under the provisions of the respective grant contracts. become repayable under certain circumslances. In the opinion of the Tru5tEe5 such cimimstsnces ore unlikely to arise and a¢¢ordingly no provision has t*en made in the accounts. Iffixed assetsare disposed of then under certatn cimimstances any Telated grantfunding in respertof these propertie5 may be repayable. The Trustees have no intention of diSPing of any grant futided assets. 57 The Chatham HtoriC Dockyard Trust
Notes to the financial statements (continued) For the year ended 31 March 2025 27 Capital CoDlIentS As at the year end. theGroup and Tntd contracted for capitsl tommitments totalling Q623.449 Ptr24: £Nil). 28 Analysi8 of funds GTOUP Totsl Group- as at 31 M•th Restricled DesIated Revaluo- tion Totsl Property. plant and equiprnent Heritsge assets Investsnent properties LL5ted Investments &38m4 569.751 16.482.161 569,751 1.207,785 I.OY)J87 I733,018 3]054 310.554 7(n.735 7ffl,735 701.735 345,663 345.6&3 345.663 1.284.741 1.284.741 1.284.741 ITJ.818) 277,878 689.1 20.705) 0.820.705) 11.820,7051 (59,tA)5) 159,005) {59.1X)51 442 2,661,499 20.192,914 246321 Inventories Debtors Cash and ch equsvalents Creditors 411 351. 17.531.415 1.972334 246JZI Group Total Group- as at 31 Marth Restrictrd DesigTrated Revalua- C*neral Totsl Propety, plantand equipment Heritsge assets Investment properties Inventories Debtors Investmenls Cash and cash equivalen15 Credilors SN.743 16528264 589.123 8811Q3 589.123 1.493,866 881IQ3 17AIOJ67 310554 310554 704,165 704.165 704.1& 351411 351411 351411 1.139.951 1.139,951 1.139,951 180 612.416 624.143 {W.138) RtXY4.138) 12.009.138) (59.(KJ5) (59.Cl)5) 159,( 1522,580 19,967J14 246J21 11.727 432370 Deferred tax 17,444.734 1.4BW6 246J21 371f03 58 The Chatham HtoriC tkjckyard Trust
Notes to the financial statements (continued) For the year ended 31 March 2025 28 Analy515 of funds Iwntintted) Trust Tolal Trnst- ag at 31 Mw¢h 2ff25 Restricled Designated Revalua- tion General Totsl Propertyi plantand equipment Heritage assets Inventories Investsnent in subsidxaries Debtors s493 IXIX)I87 549J43 I.1.377 I),887 17,533.048 255.107 255,107 26.1 26.1(KJ 1526,494 I26.494 701.735 701,735 (33).897J .797 432.(n7 0.735J851 (1.735385) (1.735.385) 443.154 1395.078 19.926.493 16.481161 255.107 26.1(X) 1,526.494 Investments CJsh and cash equivalents Creditors 411,23) 351.694 I73].415 1.951.924 Trust Total Trust. as al 31 March 2W24 Restric*d Deslgnatrd Revalua- tion General Totsl Propety. plantand equiprnent Heritage asse Inventories gM.743 16528.264 5fJA93 881103 5f3.893 1.478.636 881iQ3 17.410267 261563 26163 26,1(X> 26.1(Q 1.315.442 l J25,442 7,165 704,165 408.470 420,197 {1.925S761 P.925.5761 0.925,5761 367,793 2,256,1£ ' 19.7(K).894 261563 26,1( 13LS.442 704.165 Inveslment in 5ub5idiaries Debtors Investsy)ents Cash and cash equivalents Creditors 11,727 432Jn 17,444,734 1.888J67 59 The Chatham Historic Doekyard Trust
Notes to the finanaal statements (continued) For the year ended 31 March 15 29 Restsicted funds Ai l April 24 At 31 March 2025 Year endtd 31 Mar¢h 2025 Transfe Income itu X¥25 Group and Trnst Fixed asset fvnds 8011 6.2ZI.142 11.727 158.7T2) 1542.7981 8211.417 1189AS21 6.034.110 (245389) 15,846 I295() 236.1) 08.437) 15581 (43.498) 1087A80 144.733 Fitled Rigging House Arts Coll11 Ennd- NPO No I Smithery 249X 265 17079 Fltted Rigging House IS)uth) MEND Fund- Commwioners House 1131378 15XI.787) 695) 251.2(X) OtherCommwioner5 House hmding Commissioners House Testorntion project 251.2C 550.787 550.787 17.444.734 (58,mi 1.214.107 j>68.654) 17.531.415 At l April Expend- Ire At 3T Marth 24 Year ended 31 March Th24 Group and Trust Fixed asset funds 95]4 (541798) 1189,(B2) 1244.281) (29.5(A)) IXl.061) 196.loj O%.0 3.219 (43,4981 8AI1987 6.223.142 Fitted Rigging House Council England- NFO No I Smithery Other 6.411]74 2493 195.IXK) 14,934 li.n7 ](jxxY 35.127 2655C DCTr4S Fitted Rigging House1South) IWfj.657 2,131,378 17.651972 65.2n i,oJ,661 0.295,170) 17.444.734 The Chatham Historic Dockyard Trusi
Notes to the financial ststements (continued) For the year ended 31 March 2025 29 Restrlrted funds (wntinued) The fixed asset funds represent the donatioA% and grants received in previous years kn fund capiial expenditure,. the balance of the funds Tepresents the net book value of the related and the exrenditure represents the annual depretiation of the Telated assets. The Fitled Rigging House pro1t is to preserve the NoTth end of the fit rigging house. this being the last major building within the dockyard whjch has yet to Tefurbished, to allow it to be used more productively. The Atts Council En8land . NPO programme5 relatr tr¥ various artÉvities. designed to provide school children with educational activities relevant to the d(xkyard aTrJ its contribution lo naval hisknry. No I Srnithery - The TTU$t was pledged a b)tsl of Lll5xixI from the LKMS Wolf50n Museurns and Galleries Improvement Fund followed ty an additional £l(XJAXX) from the Garfield Weston Foundation. &SOx frorn the Foyle Foundation and £40JXX) from The Headley Trust tri support the 1efvtrtiishnt of existsng No.1 Smithery gallery spatr which was first develoF%d in 2010 and is in need of uplift and tmprovemenl OtheT Grdnts - This rePrffited a number of smaller grants for specific proFcts mpleted during the course of the year. The Fitted REIng House (&Juth) project is io preserve the Southern end of the fitd rigging house. thTS Eing the last major buildin8 within the dkyard which has yet to refurbished. to allow il to used rntr productively. MEND Fund - Commissionews House - This repTesents the MEND funded elen1 of the Commissioners House restoration projecL Other Cornmissloners House funding - repTe5ents the funded element of the Commissionets House $tOratiOn proFCt. from other nding$ than the MEND funding. Commi55ioneTS House Te5toration project- This represeryts the capitsl works todaie in respttt of the CommissioT*TS House restoration project Transfer8 between funds TraThsfers tween funds represent the amounts transferred to restricied desited fixed assets fund, to retled the net book value of the fixed assets incorporated within these funds. 61 The Chatham Historic DDckyard Trust
Notes to the financial statements (continued) For the year ended 31 March 2025 Unre8trirt¢d fund6 Year ended 31 M•r¢h 2025 At I APTII 24 Gatrs/ Trnn5fers IKorne in Expend- iture in At 31 March )25 Croup Desi8nated funds Fixed assets 1.471.227 {47.(ffj) 431369. (57.157) 246J21 (151984} 1,270,640 701,694 246321 MaIntenae and developmt Revaluation 326.482 General 161.102 8.2J9.(126 (8,3CP),947) 442 2522380 56242 s.545. (8.461¥Jii 1661,49) Year ended 31 March 2024 At Gaitis/ I ApTd' Transfers Income in Expend. iture iii At 31 MaTch 3)24 124 Grottp DeS1ted funds Fixed assels 41,949 869.no 246321 643,9n 1,148321 1611,6141 (138.0431 1,471.2Z7 432269 maintenan and development Revaluation 174.2TJ 24622J General {530.1351 8369.810 (8.110.913) 372.6&3 22)7 8544.Cfj3 (8,248,956) 1521580 Year ended 31 March 225 At l Apri] 24 G4ins/ Tran5fer5 Expend. Ire in At 31 March Income in Designated flu Fixed aets 1.455.Y {58.7611 {57.157) 171W 7.102.655 (7,199,554) 47,CI)7) 1,250,240 701,694 maintenan and development 431369 326,482 General 367. 443,154 1256,160 56%2 7.429.137 (7a4661) 1395.078 Year ended 31 March 21r24 At l April G4iDS1 Tran5fer5 2024 Expend. Ire in Al 31 March 2024 KoThe in 3n4 Trn8t Designated funds Fixed assets 460.949 I.133,32 869.no (611.614) {514.W6) 8)6910 (8,JI0.911) 38.(K3) 1.455.9 432J69 MaÈntenance and development 174273 Gener81 6231 367,793 1.954.459 072 8544.083 (8.248,954} 1256,160 62 The Chatham Historic Dockyard Tntst
Notes to the finanaal statements (continued) For the year •)ded 31 March 2025 30 UnrestriLed funds {contxnlled) The fixed assets fund presents fvnds used to acquire fixed assets aThl which are drefOre not avaiIable for funding the Trusys day to day activities. The Maintenance ond LkvelopmentFund represents sun setaside for planmed pVentive maintenance and budding refurbishment exFndittJre in future periods. TransE¢rg between fund8 Transfers between fvnds repwesentthe amounts traffjferred to restricted and designated fixed assets fund. to refiert the net book value of the fixed a55eLs iticorporated within these fuThl5. 31 Reconciii•tson rf Det income to net ¢•sh from ¢per•tins artities 2024 Net incomel{expendilure) DeprecAation of property. plantaTrJ equipment Depreciation of heTitage asseis L055 on disposal of t•nyble h.xed assets Rentsl income ,461 388.072 561.762 13031 U3.810) 389.022 (443) (21.6Tr) E JJ Net Iloss)/gaÈn on investnia)ts Oncrease) in inventories DecaSe / Oncrease) in debb) {Decreasel / Increase in credilors Net tash provided by from opeTatiD84d1tie8 1430 6,748 44,PA)) 088.433) 37,247 (n.842} (26.9161 160,286 (66.339) 1,038.5(15 32 Analysis of net de At l April a124 Cash t]ows At 31 March 2025 Cash at bank and in hand 624,143 (350,() 689.098 13X).(XX)} 339.(Y98 LA)ans Net rash infiow from operal1nsaditi¢$ 174.143 63 The Chotham Historic Dockyard Trust
Notes to the financial statements (continued) For the year ended 31 March 225 33 Operating lealt Cotnmitments At 31 March 2011 theGroup wascommitted to making the following payments UndernOn-car1jab1e 0rating leases in the comin8 years 20 2024 Due nextyeaT 7.ni Due in the rXt2 to 5 years 13.862 11258 Due in more than 5 years 1.3&3 31573 19324 34 Related Party TraNa¢tim TheTrust a numEer of tran5actioDS with its 5ub5idiarie5. TheT$t provides accomm¢xlatior4 mana8emenL rt and other services to its subsidiaries. detaiLs of are as follows: Chatham Historic Dc*kyaTd rading) L M05ter RoFemakers Trading Ltd Htstori¢ HistOTiC D(kyard Dockyard Property Ltd PrortY {2(K)5} Ltd Totsl 20 From the Trustr. Employment YechaTges Rent 401J62 39m7 441.199 19,0)0 4.776 306575 26,263 Utilities 4.776 Rope purchases Management )6575 Finance. insurance and 11.314 other costs 425.138 346.412 37577 809.127 Amounts owed froml{tol'. 188.2 98.no 17.975 353.141 64 The Chatham Historic Dockyard Trst
Notes to the financial statements (continued) For the year ended 31 March 2025 34 Related Party Transactions {contiiiiitd) Chatham Historic Dockyard rading) Ltd Master RopemakeT5 Trading Ltd Historic Dkyard Dockyard Pro1 Ltd Vrolrty 121X)51 Ltd Totsl >24 From the Trnst. Employment recharges Rent UtilitiLs 349,649 38511 388.160 19.(XXJ 19AXJO 2,987 309073 .875 Rope purchase5 Management fees Finance, insurance arKI 3CP)373 23A75 6.66A) other costs 371,636 35 750555 Amounts owed from/lto}.' 167.947 97AI0 (5) 285557 The sub5idiarie5 have committed to distribu any profits made. by way of charitable donation. to the TNst on an annual bas (see note 18). The balantt5 due from the subsidiaries a $lwwn in noie 21. During the year, the TTUSt paid £nil12024: FA.4() to The taderComp8ny Limited, a company which Admiral Sir Trevor&ar (frusteel is a Director. for stsff trainins. 65 The Chatham HistoTic Dockyard Trust