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• 1￿12r2025 COMPANIES HOUSE Vision The most complete and E*5t-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 i￿hmark in mainiaining ex£eUentt in the sympathetic Preservation and use ofThe HiS￿riC 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 fOrn￿r 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$5ets a5 the foundation for an indu5ty leadin8 museum and heritsge site. we will maxTmise our reach and capaoty whilst maintsAning quaIity in delivering inspirational programmes and eng4￿n8 activities which will incorp0rd￿ the trRstuse of digitsl tect￿logY and outreach acts"vitie& Exee]Jence Providing excellence in everything we do. we will deliver an unrnatrhed, inspirational and memorable experience for all users ofThe Historic Dockyard- whether visitors. lenants. residents orstudents- thatexceed th¢xrexpettations and maintsins a balanced ecoIogy of In setting and pursuing these oiyfictives the T￿￿1￿¢$ 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 P￿d 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 Cortr*tt MT Paul D Hudson OBE Mr Paul lacksoTh OBE Mr Anthony Dl¢)nes (Appointsd 2)I￿11r141 Dame Diare Lees CBE (Appoinled 23105120241 Cllr Harinder Mahil (Appointed 231051￿24) 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 ComMe￿tal & Operations th"Te(torof FIna￿e & 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 Re￿￿ered Offirt IW Floor North Fit*d ￿881n8 House The HEstoYic D￿kyard 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)241￿25 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 cour￿11 for their continued valuable support over many years. The Chatham HsStOTiC Dockyard Tn￿1 is a Te8i5tered charity (Ctharity No. 292101) and registsred company Icompèny No. 018041{￿1. Gfjts and donats"on5 n￿de 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 sI￿e 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 fu￿1￿. In the four decodes stnce closure. the D(*kyaTd has trart$forn￿ from a sythiY)l of loss for Medway into a thrivu) mixed-use heritage estate cornbining Preservation with intK>vation a[￿ learning. thr year-long Dockyard40 proyamme remembered the devaskntsn8 impart of closu￿. celebratrd the pro8Tess made by thÈ Trust, and tnvited everyone in our cornmunities totonT*t with the Dockyard'55tory now and rn thE futtLre. We are also greatty saddened by the passing of two of the Try￿￿9 founding Tntslees, Mr loht) Spence and Sir Christopher Wates: As f¢)undin8 Trus*es, b)th played a vitsl rolein thE e5tsblithm￿I0ff theTn￿tand its Subsequent success over the last four decades. report covers the period (rom l April 2024 b) 3J Marth Visitation We welcomed I51￿ visitoys this year. • 6% I￿[*8$e on 2￿1124 deswte the wider &onomic pressures affecting the sector. New exhibitiorls, engab*ng family progratnmtng and well-targ*d markettng helped keep the L>xkyard front of mind. Ourcall the Midwi(¢ Official tmtion tours a￿1 seasoJ¥I events remained key dnws. bringtiis in iy)th rtew •nd Tetumin8 Visjtors. We tnaintsined our committnent to hig￿qualIty. forn￿] learnin& eTr8a￿ng 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. D￿kyardl0￿ftd 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 acqui8ilio￿l 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¢en*nary,and Ralph Steaar 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¢ ObjetiightEd key figure5 linked to the Tnjsvs developO￿nI and comrnen￿raled anniversaries tike D.tknY￿. CAVAUERW, athd the Three Cruisern, 110th al￿1Versary. con￿l￿￿ty 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 whosha￿d 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 fOrn￿r thxkyard workers and apprentices. The Htsman librnry debAknI at Arn*d 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. iT￿luding 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 eXt￿￿I0￿ of our Mobile Dc*kyard initiative, we developed new themed reminiscence se55ions for care homes featuring Anchor8 Aweish piece5 and 40.40 photography. The programme en￿ged 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 engagen￿ts 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 d￿ades. Signature events As part of our wxder major events programn*, we hosted some additional activity Imked specif￿allY 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 Purd￿ser$ not having visited in the Previous two yeaws-a cle•T success in re-engaging I￿1 audiences. Museum and Colledions Thts year has seen si8nth.cant developments in the Museum and Collections leam. marked by excitin8 8CqUiSitions. infrastrUC￿re progres5, and forward planning foT our long-ierni vision foT the museum. We acquired a letter signed by King Charles 11 ￿f￿1-16&S). purchased at auction. th*d 18 (kto￿r 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. 5lgniflcan￿Y enhance storage condÈtions and acces5 and is PlaT￿ed to take pla graduauy over the next two yeafts. We were also pleased forn￿lIy launch the Disability TrailbIazers tratl on 26 ￿P￿mber 2024. This tr&il is part ofCutatin8 for Change. an initiative hjnded ty National iA)ttery Herilase Fund and delivered in partheyship with AcCeTh￿ate 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 Septern￿r 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< Impe￿Ul 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 D￿kYard to new audiences and drtve visitation. RNLT2(tr. The Exhlbltlon ￿￿T<￿- Augwt 2025) As a lon8-stsndin8Partnerofthe RNLI.we wereproud ￿COllat￿?ra1tWlth tl*RNU Heritsge team to mark thecharity. bicentenary with a new, temFK)rary exhibition.. RNU2CKI. exhibÈtion celebra￿d 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 Par￿eTed 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 caT*r. 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 T￿ePtIOn on 19&PteM￿r 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 T￿￿t Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March 2025 Nationa] Historic Ship Pholosraphy Cornlpetition For the third year n￿￿Ing 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$ed a range of troditstsn¥l P￿ltOge vesseb captUTed by amateur photographers around the UK. The exhibition was on display in the Pipe Bending FIr￿>r from 5eptrrn￿r lo Novem￿￿. Brickwreck&" Sunken Ships in LEGO BriI) Bricks officially on 9 March JJ25. The inlention is not only for the exhibition to ￿ a key visitor drow but abo an opportunity to dee￿￿ our Lifelong Learning offer, particularly by aligning exhibition themes with the curriculum. In addition to sthool engagemen( the exhibits'on provides ontent for extended pro8rammin8 to a wide ranse of audiences. from riuild sessions for adults. corporate hospitality and ¢eam building to pubIic thgagement and use of our colle¢b"ons io fvrther explore the maritime arthaeology as$ocia*d with shipwrecks. The launch of Brickwrecks wa$ supported by a high-impact communications tsmpaign. The campaTgn launched on International LEGO Day Oanuary 20251 with a LEG(>building competib"on. Entrants were invited ￿ create t%xkyord- in5pÈred models. with winners selected by Ryan McNaught and fvdtured as part of the exhibttion. The press taunch generated n8tiono1 coverage in Tht Telegrdph, The GukTdio￿ OKline, and The i. alongside local features from BBC Online and Kent Online. and specialist publication. Blocks magazine. A dedÈcated marketing campaign continues to run throughotst the exhEbitiory largeting our key audience se8t￿ents. F¢used Fwntli¢s and Mitilory & Hislory EKth¥siosts. Value Added Family E¥ogrammins Attracts"ng family audience5 during peak vi5itslion peTi¢xls remains a priority* providing additional reasorns to visit in competitive seasonal landscape and reinsorcins the value of anffiual tickets. In 2024. we expanded the integration of family programmTng across theentireVisitOTex￿ntllce. iTKrea5inganinwts"onacrossthe site and linkingactivities more c105ely with authentic DrKkyaTd ￿'Story. We pÈloted new approache5 thJ"s year. including working with professional actors. thematic retail and catering offers, and ttoss-departsnentsl conlentdevelopTnent These tniliatives 3]n￿d trj In￿¥se family engagement, b005t ticketsales (E*)th new and re￿rn visits). and test fornuts for future pn>granunin& all￿1n8 with our primary audtence segment FoLY45ed F&mrlies and secondary segment Fyn Ttmt Fomilies. Progr¥Jnme delivered in 2024125 ]￿luded.. Stormy Stan'$ Chatham Challeng¢ (East¢T A seif-led trail-based activity led by the RNtJ's ch¥ToclrT, Slan. invitin8childTen to embark on a rescue mission to find Scattered lifebuoys around the Historic Dockyard and solveclues linked to water safety.Stormy Stsn himself made live ap￿￿raT￿ on selected dates. Themed catering offer.'~Build Your Own Snack Box- at the Mtss tkck. RNLI-themed retail produc This activity extended iyoTKI Easter to 511PPOrt Eong-term RNU en8a8emenL 9 The Chatham Historic tjockyard TTU5t 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 I￿j aTOUrtd the RNLI's H￿l01)r Lile￿70t Colle¢iio (Slip41, exploring the theme of bravery. The slory followed three children Oive ￿kn15) through ts1£s ofcourdge and kIndn￿S acr055 two Tht GattLe Is Aft*)t Isurnmer Holidays) A Sherlock Holmes.themed detertive activiry based on a ml crime from Dc*kyard hiskny. Thildren tr*rame"Dockyard Delectives,~ solviD8 clues to u[￿VerWh0 sold naval secrets m 1887. Featured a liveacb)r lo intr(xluce the acttvity. detsciive ktts lincludlng￿tebwksand deerstalkers}, interactive challenges and a-crime lab- photo opportunity. "Sherlock*ones Aftemr*>D Teas" weredeveloped and sobj in Mess Deek alongwith thematicretatl produrt This aciivity ¥L*o served as a piltst t&51 theming fora I￿ntial futurefi]rn location tour. Yu¢k Yard Iotlober Ha]f Term) Yuck Yard drew on the moye 8¥uesome ¥Sp￿ts 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 $i￿t*￿Ie 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 K￿tC011e8e 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(kni*es 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 laU￿h 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 FutiT￿l 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 appTOXitna*ly 5J82 patd attendees. This $how5 a small decline in volumeon the previou5 year but presenle. We wtsed IOKO) fvet tsckets. proactively removirt8 the price ￿rner for Medway residents to experIE￿e a day at tt* D￿kYard. Almost &)% of event attendees were first-time visitors and unsurprisin8]y. this thfeni attrattEd our rn(KSt kral audience when compared to the visitation Eorother events and exwientts. SAlule to Ihe '40s ISeplerRber). Our lon84tsnding ar￿Ual event wekomed c.4h40 visilors to si* over the weekend. showing o slight irKrease in volume on the previous year.The eventattracts a more geographicolly diverse audience with the htst PTOP)rtion of Yotlor5 from outside of Keni aml Mtdway compared to our otherevents. Irost Ships (SryteMl￿ff). A new. Èmmersive fvatreeXperle￿e develO￿d in collaboration with Icon Theatre. Gh05t thps reimagined the Dockyard's history through explosive story*lltn8 and live performal￿e. 1362 visitors attended a(ross three nights. offering an innovative lakeon telling our4¢NJ-yearslory. 10 The Chatham Historic Dockyard Trusl 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 In￿l￿d A dedication and bjessing of the HMS CARYSFORTStandard was a]50 PerfOrn￿ durins s￿1￿. As o chartty. our pro8ramTning toajign with OUTCOIE PlifF￿e. events $ltoutside ourprimary ren)il, they must have clearstraiesic ouicomes. either by 8W*rntin8 commeml DKome or txpanding our audiente reach. Rising operational ¢osts and changing audience iEhaviourn have prompted us to tomrnission a strategic review of our majorevents pro8¥amme. White this work ison8OiD8t we ￿¥t already made some difkultbut necessary dtci$iotis in the inteTe5t of financtal $ustainability. The Medway Gamin8 Fesbval Will not rturn in 1125. 2025 will mark the fi￿[ yearofsalute to the'405, aligThingwith the80th anniversary oftheend oftheSe£ond World Warand briThging theevent to a fitttn8 conclusion. Thesechanges refte£tour¢)ngoingcommitmenitodelivering purpwaul, high.impartPTogrammingthatsupp)rts both our vision aT¥J long-tenn f￿￿ncial resiitenre. F¢>rmal LtarniTh6 This year. our fornul leamins offer continued to f4ce thallen8e5, partThlaTly due to TiSin8 tsxnspoTtstion costs that have CODStrained School group vksitsti¢)n. De5Pite this, weare pleased to Yeportthatover IIXX) lea￿1$ 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 ry0￿151n8 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 f￿e ef chaige. This programme offered underprivileged children the opporturrity to experientt our award-winning tearning environment a[￿ take part in fun, in*ractive 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￿ weredeVelo￿d 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 2￿2* 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 ex￿1)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 relatio￿h¢P$ with Hazetnut Press. Kent A¥tistic TTUSL Ind the Medw3y African CaribiÈan A$s￿lation (MACAI. We continued to align exhibitiOJLS with wider Medway rnltural events. itKb¥din8 the Medway Print Festival and Medway OF￿￿ S￿di05. 11 The Chatham Historic tkKkyard Trust Trustees, annual report incorporating the strategic report (continued) For the year ended 31 March Thanks to Arts Council England NPO fundin& much of our acce55 inclusion programming remains free lo participants. ensuring price is not a barrier for en8agins with us. We delivered two Brittsh Si8n IAnguJge (BSL) tours and two audi04les¢ribed tours focused on key D￿kyard tE￿ne5 and exhibib"oD5 and through collalK>rating with I￿￿1 artist Wendy Daw5. we were able to creale a tsctile art lyY>k linked to the Ralph Ste?dm¥n: INKling exhibition. This year we have prioritised Anuea5in8 everyday accessibility over ￿lOnal offerings. We were pleased to launch our ￿n$Ory Support Backpacks for the 2024 season. DesTgw*d 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 $F￿￿]C detaijs al￿)ut holiday activitie5. Followin8 posilive feedback from our Mtssson Otrislmos ￿laXed sessions in J)11. we offered dedicated relaxed days duringthe 2024 festive sea50n. Our rnonthty Dementia continuLs to grow in popularity. with us celebraling its first birthday in SEplember. Generously 5UPPOrtEd by the Medway Sunjight Rotary Club. the café offers activities for people living with dementia and their carers. In 2024. the café wekomed external organisations including Bright Shadow. Kent Fire & Rescu¢ and Carers First. We also share hands-on activities with attendees linked b) Dockyard Sb)ries. Ahighlightof ouryearwas recei¥ingtheprestigiousGOLDaward forAccessibleand InclvsiveTourisJnattheBeautiful S)uth Awards. This proud achievement is a *SMment to our ongoing commibnent tocreatin8 anopen and welcoming Dockyard for all. MaTketins and Communi¢4tions The Marketing and Commut)ications team plays a central role in suppo￿8 the entire organis0tlo￿ helping to drive aw8rene5s. deepen engagemenL and support the fulfilment of our JeaTDing obiectives through disital and offline Ktivity. This year. we delivered tsrgeted campaigr6 across all major ini¢iatives. includAng value-added family programmin& temporary exhibition51 public engagementaclivity. and maiorevents. Ourprimary focus was on increasin8 web tr¥ffic. converting web users into on]ine ticketsales. aTrJ ultimately drivin8 visitstion. Our digilal conient5tralegy remains cli)sely aligned with the Trusvs missiorn particularly during our40th anniversary year. We created enga8in8 content around Dtxty&Td40. sharing Stories that increased reach and deepened audience conmettton. Our key digitsl PlatfOrn￿ Ir￿lude our website. thedock ard.co.uk supporled by S￿la1 media and email marketing. Website user nUm￿r$ reached an all-tin￿ hith with a Ir￿destin¢1tase on the previous year. Engagement rose to 55%, representing a 12% uplrft year￿n-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 ofourenew5lettercampai￿s.a11ernatlTrgbetWeen focused.single41ory emails and broader editions fea￿rIng multiple updates. While o￿Tr ra*s remained stable. the subscriberb•se grew significantly. Offline. our efforf5 focused on targeted distrÈbution of prin￿1 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 D￿k That. a rw¥ monthly podcasthosted by long-time volunteer and seasoned radio presenter.john RobÈnson. The P￿castexP1Ores 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-fl￿t approach going forward. Through this process. wehave developed seven t*spokeaUdie￿eSegn￿ts. enabling us lo t*kndevetop 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¢ Lrt*rs. 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 r*xt 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 StrnC￿ral 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 Stra￿10ry compliance obli8ab"on5, including Electrical Installation Condition Reports IEICRI and Fire Risk A55e55ments (FRA) have Eeen reviewed. Commi99ionerfs Houge Builtin 1704 forcaptsin GeorgeStlA>. Commissioner5 into annual bcket holder5. Filmins The Historic Dockyard remains a sought-after filming I￿attory with revenue from productions generating £2WlJtx) during the reporting period.Several high-proh.le productionsaired in 2￿4, includingSAS RogueHeroes, A c￿e1 Love.. The Ruth Ellis S10ry and Steve Md2ueen's The Blit& which we leveraged to further roi5e the profile of the Dc. This investment policy is reviewed annualty by the Trust Board. 19 The Chatham Historic tkjckyard Trust 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 MeettheTn￿yS operational and development needs. 2. The occurrence of Sign￿]Cant physical damage to the Pro￿rtY, h￿toriC 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 I￿OmPatible 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 dIreC￿Y 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 t*en fortunate to r￿e1Ve 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 PrO￿ty 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 Pr￿edureS 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 Sc￿oIS¥l51￿ Or8ani5ed youps E%tnts & corporate 201 ISC￿0 iocwo 2015116 2016117 2017118 2018119 2019120 2020121 1021122 2022123 2023124 2024125 Year VISITOR INCOME 2015/16 TO 2024/25 Individual Income 5th￿Is Incorn Grou In(L￿e 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 Ir￿Me u othef Brants & d￿natIc￿5 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 I￿rne. 1.235. 16% ROpernakI￿ 517. 6% Propertyincorne. 4.061. 51% Visitor irwne. 2.026. 26% OPERATING EXPENDITURE 2024125 £OOO's InsUrar￿e￿ 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 HiS￿riC D￿kyard. The ￿tsIts for the year were: Retail Catering 75k Turnover £418k Net ProfitllL0551 Spend per visitor cHD￿radingI Ltd. ger*rated 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 Tn￿￿5 eS￿le. 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 mainl￿antr 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 Ro￿ry is oreof its strongestvisitorattraclions. Thecombinats"on ofa guided tour and the traditional manufacturing proces5 provide a highly enjoyable and educational eX￿rienCe. 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 I￿SinesS ofMRL. Thee￿I￿rag1rtg 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 GEPEnv1ror￿￿ntsl Ltd (GEP)based onTheChatham Historic D(Kkyard Trust (CHDT) energy consumption. covering t7*ir 2025 f￿an￿al 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 car￿n inf0m￿li0￿ Consumption in kwh and erni￿10ns in toTu￿ of C02e for the financial yearending 31st March 2025 are provided. Emis$io#sfrom com￿stio￿ of &$ tC02t (Scope l) Location ￿Sed Tonnes of C02 equivalent I￿02e) ore calculated from the product of the invol￿d gas consumpts.on in m3 durin8 the reporting period and the 2024 UK &vernment GHG Conversion Factors for Company Reporting for atural Gas, SIr￿e lstoctr1￿r 2LY20. The Chatham Historic Dockyard Tn￿th¥S purchased CartK*n 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-b￿Sed} 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 C￿n￿rated/EkCt1lCIty.' UK, Emissiox$fvm purclwsed eleththty tC02e IScope2. MArket-&￿Sed) Market Based Emissions are reported as O due to the fuel mix of the electricity purchased. as deff￿ed by the suppliers, fuel mix. Haven Power fuel mix: 10)% REGO Backed Renewable Electricity. Intensity Ratxo (IC02exrossfigure brtsed ow mANdAtoryfields) The tntensity fabo 5tsted aFM)ve has t*en calculated as Tonnes of C02e ￿ totsl square metres of Propety owned for The Chatham HL$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 NatIon￿Grid.,mdrkd-b#sed,TtP￿e￿ts 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 2￿25 Carbon Emission$ Data Previous Reportins Year Current Year Iii April JLI- 31st Marth Ir24 191 AprKI Ir24- 31$1 March 2Tr25 The Chatham Historic Dockyard Trust Energy Consumption Totsl energy cortsumed (kwh) . Electriaty Natural Gas The Chatham Historic D￿kYard Trust Electricity Renewable 0/0 Total electricity which is renewable % The Chatham Historit Do¢kyard Trust Natural Gas Carbon Offset Yo Total natUTa] gas which is cartM)n offset % 239339) 3.LV)7B30 1.604 35]2￿54 loo% l(M)% 26 The Chatham Historic D£*kyard T￿￿1 Statement of Responsibilities of the Trustees For the year ended 31 March 2025 The Trustees are responsible for preparing the Strategic ReporL the Truslees. Annual Report and the financial ststements in accordance with appliuble law and Tesulatitin5. Company law require5 the Tn￿ ￿ prepare financial 51atements for eath fiTwKial year in accordance with United Kingdom Generally Accepted Accounting Prarttce (United Kingdom Accounting Stsndards and applicable law). Under company law the Trustees must not appTove the financial statements unle55 thry are satisfied that they give true ond fair view of the slatÈ of affaiys of the group and chartty and of the incoming resources ond opplication of rtsources. irKludtng the income and expenditure, OE the group for that period. In preparin8 these financial statements. the TTUStee5 aTe T4UiTed t￿. se]ect suitsble accountin8 policie5 and then apply them CO￿L$lefttty. make judgements and accounting estimales th•t are ￿0$￿￿bIe and prudentr stste w￿r appllcable UK Accounting Stsndards have been followed, suiyect to ony mafErial departures disclosed and explained in the finanoal statemeiiis. and prepare the finaTKial ststements on the going concern basis unle55 it is inappropriate to presllme that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable acotracy atany tin* the financial positson of thecharity and enable them ￿ ensuTr that the financial ststements comply with the Companie5 Act 2(￿. Tlw are afso respoDsÈble for safeguarding the assets of the charity and hence for tsklng reasonable sleps for the PTevention and detection of fraud and other Irregulariti￿. Financial statements are published on the charity's website in accordance with legislation in the United Kingdom goveming the preparation and dissemination of finaJKial Ststsments, which may vary from le￿$]￿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 coM￿nY 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 C*nerally 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 In*rnational Stsnd)rds on AudTting (UW (ISAS (UK)) and applicable law. OUT responsibilities under those standards are further descriEd in the Auditorfs T￿ponsibl]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 PrOv￿e a i￿s15 for OUT opinTron. Con¢luJion8 Telating togoinsing 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 Cl￿ri￿ble cOM￿nY to cwase ￿(Ontinue as a goin8 coJ*ern. 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 May￿er 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 j*rforMan￿ 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 nonge 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 I1￿35￿$5) .725576) 281.626 Nel cyThent asgets 678233 T￿al 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 Dc￿kyard 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 RestriC￿d 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 fItia￿la1 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 Novemi*r 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 re5k￿rt 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 publicl￿efItentity and theGroup is a public benefit grotsp. as defined by FRS 102. The financÈal ststements have i*en 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 Dc5es and which arefulfillins the charitsble purpose for which they weTeacquiTed. 1$ based on the depTeLiated rePla￿ment¢0st0f the asset. Forother assets. value in use 15 defined as the net present value of the fvture cash fknws befo￿ interest exptt*d to 8enerated from the assets. For financial assets (comprising trade and other debtrjrs) carTied at cost less impairn)ent. the Jmpairn￿nt loss is the difference betw*n the &ssÈts Carrying amountand theE*st estimate of the amountthatwovld Et received for the asset if it were to be sold at the Ye￿rting 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 reco￿lSed in prior period5. A reversal of an impairment loss is recognksed in the Ststenwnt ofFinancio1 Adivities. lrtv¢slnTht Pro￿118$ 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 irnpairn￿nI 10sse5. Other investments are slated at fair value with movements thrw8h Income and exFaifvre. Ixvtntories Inventories arestsled atthe lowerof costond net￿lIs#blev¥1Ue. ￿l￿Sthee$tt.rn8ttdStl[insPrice le5scosts tocomplete and sell. Costi5 based on thec05t of purrha5e on a first in, fiT51 outba5is. Ateach reporting date, inventories a￿ assessed for tmpalrn￿nt. If inventory is impaired. the carrying amount is Teduced to its selling price less costs to compIete and sell. The impairnient is recognised immedialely in profit or lo￿. C4sh and cqsh equiwlents Cash and cash equivalents comprise cash in hand. cash Jt bank and bank deposits. Cash equivalents are highly liquid investsnents that are readily convertÈble to known amounts of cash without Si￿1f1cant Ti5k of change in value. Ban overdrafts. when applTcable. are shown within borrowings in cyrrent liabiltties. 42 The Chatham Historic Dockyard Tn￿t Notes to the financial statements (continued) For the year ended 31 Morch 2025 2 Accounting poIicies Icontinlled) Prtirrisions wid contingenaes Provisions are recognised when the Group has a present legal or constructive obligation as a result of past events." it 15 probable that an outflow of resources will Ee required to settle the obligathon: and the amount of the obligation can Ee ests"mated reliably. Curyently. the Group has no provisiors. Contit)gent liabilitie5 an%e from pastevents when either. It 15 only possible that an oblxgation will arise and when the eXi$len￿ or otherwise of the obligation will Ee confirn*d by the OCCUTrence or TfftL-LKcurrentt of unttrtain fu￿re events rM)t wholly within the group's control.. or. An obltgation has arisen. but a provision is not reco￿1$ed i￿Yse either il i5 not probable that there will Ee on outhow of resources or the amowit cannot ￿ reliably nwsured ai the reporting date. contin8entliabilitie5 aTedi%dosed in the financxal stslements ￿1￿ theprobxbilityof •n outhow ofre50urces isremote. Contingent assets are not recognised. Contingent •ssets are disclosed in the finarKial 5tstements when an irolow of economic Imelits is probab￿. Fin8nool irtstTumertts The charity only has financial assets and financial liabiIities of ¥ kind thatqualty as ba$Tt financial instruments. Basic financial ir15t￿Th￿nts are inib.ally recognised attra￿￿(tion value and subsequentEy measurtd ai their settlement value. Thecharity has elected toapply the provisions ofSeL-tion 11 Basic FInar￿la1 Ir6truments' and 12TrheT FinaTKial i￿trUments 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$￿ as and when d￿lded by the Trustees. Restricted funds are funds subFct to 5peofic rtstrirtio￿ imEwd by donors. the nature of the appeal orother reasons. Unrestricted fundscomprise the accumu]alEd 5urplusorddiLltor recOgn￿ed in incomeand expenditure aftsr transfers to other reserves. 43 The Chatham Historic DKkyard Trust Notes to the financial statements (continued) For the year ended 31 March 2￿25 3 Key jttdgem¢nt$ ond soMr41.219 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. volunteerso￿l$tu￿TF￿st1n undertaking its 4ctivities,' detsils are prOv￿ed in the Tru5tees' Annual ReporL The numEer ofemployees whoseemoluments a￿Unted to over£￿.(￿ in tt*year was as follows.. 2025 Numlrr 2024 Number £60,(NM . £70,( £70.(MM . UO,(X ££0.￿] . £90.(m . Contributio1￿ in the year for the provisionof money purchase t*nefits to higher paid employees totslled ￿.283 {2024: £48.n81. During the year, the TTUSt irKurred Teorganisation costs of £Nil (￿24. ￿￿k) The ChaArman of the Trusiees is entitled to receive remuwatioD from the Trust for services provided, as perniitted by the Memorandum and Article5 and approved by the 0￿rity Commission. The (]WiTrnan's emoluments for the year were £27A05 For Sir Trevor12024- £28.988 For Sir TYe¥orl.. thi5 rernurteration is not pen510nable. The Trnst chooses to pay the Chaimwn as the role significantly exceeds that of other Trustees. No other Tru51ee5 received emoluments. Expenses reimbutsed to 3 (2024- 4}Trustees in respertof thecostofattending meeb"n85 and other reimbursed expenses amoun*d to Q45712024- £5,025). Key management person￿1 are those persons having authority and re5pJnsibihty for plannin& directing and controlling the acts"vities of the TrusL direcdy or indirttgy. induding any Trustee. In the opinion of the Tmst kry manasementpersonnel the Tr￿Slee$ 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 o￿Tating leases Operatin8 lease charges 19.925 14.ICiI 3.431.126 7.661 I9.￿XI 13,305 3.174,(Yi2 3.722 15 Tansible r￿ed 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 2￿24 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 { 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 n￿3 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 204￿50 704,165 701.735 704,165 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 replacerr￿t 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 T￿￿t 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 aCC￿ed 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 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 Coll￿11 En￿nd- 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- I￿re At 3T Marth 24 Year ended 31 March Th24 Group and Trust Fixed asset funds 9￿5]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 pro1￿t 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$t was pledged a b)tsl of Lll5xixI from the LKMS Wolf50n Museurns and Galleries Improvement Fund followed ty an additional £l(XJAXX) from the Garfield Weston Foundation. &SOx￿ frorn the Foyle Foundation and £40JXX) from The Headley Trust tri support the 1efvtrtiish￿nt of existsng No.1 Smithery gallery spatr which was first develoF%d in 2010 and is in need of uplift and tmprovemenl OtheT Grdnts - This rePr￿ffited a number of smaller grants for specific proFcts ￿mpleted during the course of the year. The Fitted RE￿Ing House (&Juth) project is io preserve the Southern end of the fit*d rigging house. thTS E*ing the last major buildin8 within the d￿kyard which has yet to ￿ refurbished. to allow il to ￿ used rntr￿ productively. MEND Fund - Commissionews House - This repTesents the MEND funded elen￿1 of the Commissioners House restoration projecL Other Cornmissloners House funding - repTe5ents the funded element of the Commissionets House ￿$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 desi￿ted 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 MaIntena￿e and developm￿t 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 DeS1￿￿ted funds Fixed assels 4￿1,949 869.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 2￿25 At l Apri] 24 G4ins/ Tran5fer5 Expend. I￿re in At 31 March Income in Designated flu Fixed a￿ets 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 (7a46￿61) 1395.078 Year ended 31 March 21r24 At l April G4iDS1 Tran5fer5 2024 Expend. I￿re 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)69￿10 (8,JI0.911) 38.(K3) 1.455.9 432J69 MaÈntenance and development 174273 Gener81 6231 367,793 1.954.459 0￿72 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 UnrestriL*ed funds {contxnlled) The fixed assets fund presents fvnds used to acquire fixed assets aThl which are d￿refOre not avaiIable for funding the Trusys day to day activities. The Maintenance ond LkvelopmentFund represents sun￿ setaside for planmed p￿Ventive maintenance and budding refurbishment exF*ndittJre 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 arti￿ties 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 Dec￿aSe / Oncrease) in debb) {Decreasel / Increase in credilors Net tash provided by from opeTatiD84d1￿tie8 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 operal1nsadi￿ti¢$ 174.143 63 The Chotham Historic Dockyard Trust Notes to the financial statements (continued) For the year ended 31 March 2￿25 33 Operating lealt Cotnmitments At 31 March 2011 theGroup wascommitted to making the following payments UndernOn-car￿1jab1e 0￿rating leases in the comin8 years 20 2024 Due nextyeaT 7.ni Due in the r￿Xt2 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 Pro￿rtY {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 Tr￿st 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 D￿kyard Dockyard Pro1￿ Ltd Vrol￿rty 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 t*aderComp8ny Limited, a company which Admiral Sir Trevor&ar (frusteel is a Director. for stsff trainins. 65 The Chatham HistoTic Dockyard Trust