JINu￿REpr#ITAND￿ATEMEpnoFAcc￿j11T5 FOR THEPERIODE140ED31 LKfoBER 2022 COMPANY REGLSTERED NVMBEA".LY)755216 CNNRITY REGISTERED NIJM8ER'. 299931 Trustees Report 2-5 IndepEndantExamlnefsRep ststement of Flnandal*AI lancesheet NotestO¢heArtarthl SlatemeThts J H Me8Drnn IChalrnNAnl G F Hundy RJ Mèrtln J R McKee RWClamn*r Twcorthorn AWGill 26Ht£h5treeL Barry. SrArth6lanhy8an. CF627EB In¢lependÈntE*Mh¥ PRw4lkerFCfA 26 HItsStreeL Barry.South G￿￿￿￿3n.cF62ffB BJrthr5 CAF 8ankLtd, ￿ ￿ng$￿IllA*nue.Kl￿I8s Hill.West Mallin& KenL M£19 COIFCharibes Fund,85 Queen Vtttorfa Street, L￿&￿Tr. EX4V Cambrid8e&Countles8ank Ltd, Sè NÈW wall LÈit*stÈr. LEI 6fE Monmothshire BuildlngSociety.John FrostS4uare. NewptsrL NP201PX Rtdwood eankLid. Broadway, Letch*rrth Gard￿)￿ty, Hertftydshirt5663TA Wirwn Moneyiaydesdale Bank Ltdl, 30StWin¢*t PL1￿.61#$￿w. 612HL Pap2 TheTrustees presentthelrrewrtand 6uoUntsfortheperKKl￿ded 31(knl*r 2022 in tornrALance (Urrentstatuwwulren￿nts,the compan￿S￿e￿(wanduM and knbde50fAsso(iat¥)nand Re￿n8 Charttles'.Slatsmtof Recommended Practice (9)RPla￿￿3b￿I0￿aritses preparingtheSr accounts In actordètKe wfth the Finanual ReporDn8stsndard applkaty&tOthe UKand W￿￿ofIreland IFRS1021 andthecompanleskt The prfnci￿l3cIIYTty of Padd*Steamerknn8PA*arCasdeTru5t timfteo IPSKcn conlrwesto bet eservation ènd restorbtion of Paddlesteaftvfinw￿rCa#lÈandroeTrabl￿a￿Oe tangeofthe8erwal publicto&ain experienieof 53illTr8on a p•jd￿ S￿3m￿.¥￿dtomaIfflJsnartlffxts4ndd0Ojrn￿rtts rd*edto the shlpand other padthestean*r& dd1eSteaw￿f ￿￿*￿tar(¥s￿eTnjSl Limited on 27M3rrh I￿.1￿Mber(l)75521& TheQ)mpanywasgraniedt*rhtat4estabJsfn)m17AuNI 1988and tsry4erettwith the0￿rfty Cornm15￿0￿ number2YJ931. The Trusteeslwho areall ￿rectOrS0fthecQryanVf0rthe pury*)seso[C(tyany￿WlWkno haveserb*d durin8 the period Underre￿ewwere. J H MegornTrlChaittronl G F Hundyldeceased 22 De£ember20221 Rjmatyn J A McKee Rwoamrner Twcorthom AWGIII TheTrusteesaresubJecttodedton or r&*1K￿3tCOWdinKlo pr￿dureS$￿t1XttInthe Compan¢s MernorandumèndArt￿e5of￿S￿&ts￿￿hith Forthe porlod 31¢)ctob•r2021IConiinL*dl The CompanyopEratesthrough a B0ardofoirECto￿￿h￿￿ alx>attsasTrv#eÉsforthechariiab￿aE￿￿l0es0f the Company. TheTruttee5detemiir*the8ener31 ￿￿O￿thecoMp•Thy. f*eoard rneetsrewkrlvasdrcjjmstsn￿ requlrt ￿￿￿￿se￿t0r￿08n￿eth￿asS1stsn￿oIfflaNy IndI￿dUalS￿hO brfn8th•rewise a￿*•￿V￿65rn tosupportthe proiECL The companylsa sub&dlary DfThe Paddle stearrerPreser¥ation IPSPSlwhith holdsthemaiDrtyl551 ofits Sssued sharekThere a￿ li partlypaid sha¢shehJ by others-j H MegoTrn- a shares.'fj F Hunty-3 Sha￿s.j M ￿l-3 thares¥nd RJ Martin. 2sha¥e The TFuSteesexamlnethe major fisksthattheCompanyfxeswhoTr wep3rfngand updatingtharplans. The Companyha5 develowd systerrffjto monitor and¢ortsd thEse rSsksknmanage anylwthatthy w have )thetompanyln thefuture. TheCompaThycontinue5 wkth Ks prfmeobieEth*of rAewMneand Operati￿ In sèili￿t0￿drtiOrn thÈhiSttiri¢ P5 KingswearCa#*. PS Kin£5wearCast* ischarter*lto TrdrtPle3sureCraftumiteo IDKI ￿0[￿atethe1lIp0n heTorfwnal hDrne waiers ofthe rbverDart.The truStr* of P5Kcfcontlnueto p￿Se￿ wththe care andattenbon withwhich thèthip ￿ bdrKgoperated. Arnaioro￿h3￿in ￿￿wa¥to￿elebratetheShip'$￿t*•ary 2024. pertormancd. In settSngour objettwe5and ￿annIngour￿ltseS1heTrU5tEeS￿￿n(areful can￿derati¢￿￿tOthe charitycommlss￿,5￿ThefajZUkdan￿0Th puwic be￿ and In DartICu￿¥t0[t5Su￿rAemÈfitary puwic 8uidanceon adwdntingedLKathJn. P4p4 TheTmst remJlns¥ery pleased wfth the waythe th4rterermalM&nSa￿ (W3*S￿n￿raT(3sUeoTrOur behaff. Kiw*earcast￿ftn￿hed hef 2021 sèason 4i8httyearlysothatthwuhlstarton her ￿￿Jorfebtslkd nd this continued throuetw)utthewinter202V223tthEyard. Pmwwa5501￿￿Ithat8 decision wastsk Inthe sprin8of2022tocontinue iherebuikl th1w¢￿tthesUrnnYorzo2ZWhenthe5hipv￿d *dS otheMisequiet. Asa resu￿ KingywearCastledKI 5aildurirethe X)22sea50n. Theship ￿emP￿c[ed10 ieturn to re8uL4rseNieforthesumnwof2023 by*thkh fthall Maj)r5teel￿lkèndd￿£tri￿8 rerh￿￿3￿¥￿J h￿t￿nCompleted fromthe ￿)i￿r¢)0MtOthe￿ernand rrAxh ofthesteetw(rtfrL¥nthe ewnÈ rrthnto the bow.Thi5 leaves a setbLMof5teetr4Jork bÈnÈaththede(¥and thedeck it￿e￿.10Th￿ard of the enwne r(xH for renewal In the 2023124refft artd anYneC￿￿rywOrk Snthe mithl*ofthe5hipthe fd10￿nI￿1Thter.The Trurt hasbeÈn fund ra1￿￿ Theweb5iteha5 been mDdffied totskedonatkin& Ftytfs have bee praduced and dtsthbuted toencoura8e doDations.AndtheTrutthasworked*ith r(*dia3nd wal media to hb8hli8ht fund rai&n8f¢rthe rebuI￿$.Thereh￿f01￿beenvar￿)us7V and radK)appearan￿5 IndLklingon tF* tiques RoadTripand Mithael Portillo'sshDwonfimes Radio. Ne8othitionstoe￿endtheIh3rteraI￿[nent fora further￿ yeoTsha%*t*n sutte&shs1ty￿¥0e0 andtheayee￿￿TrI Was￿￿￿ on 16JanuaryX)23. The companwsyearend hasbeenthangedto31 OdoberinordertDbrin8rf¢Mlto lineY*tththat ofthepadd SteafflerPreser¥atkin&xiety. Tts It￿110r￿Sharehr*r.1knI5 hasresuw in anextendedacc0untingpw￿d OF 18rMnthsfrom IMay2Ollto31 October 2022. 7he resurtfurthe wasa￿r￿4Usol£￿2,1s& Dforeseen Issue¥ pattiruLiththe need forun￿anned rnerhanicol 11 had been hoped thatthe restriutrj fundsof P5KU, which or4w"natedfrorn speuficfundsfor Kln8SknwrCasYefr(ynthe PSPSlntheyearendin8 April 2014.would be suffltleniforanymèintenarKe ISSL￿swhich m3¥falloui>dtrthe wofthetharter a8￿eMent￿1th DPCand the planned lr￿prreknJs￿J. HLY*e4Ydets*￿ costin8softhErebuiW sugystthat thi5 15 nottheo5eènd so PSKCT |aunchedafun&rJWn8campaen inJunÈ 2021 tv Sour￿ addhlon31 donations.A new web4iehasbeeN Con5t￿Lted.Th&hlspr￿#edfty￿ rn￿n#8nd u￿ble￿d0na￿StO be tsken thr0wtheweb5rteas￿IastyOther wn> TheTrustee5 are ￿spon%b￿fQrwePan￿the￿nUalRe￿taTrdthefinOTrdaI Slaren￿ Inac¢udaKeTrhith appllot)12lawand reeulation Company Law requlrÈstheTru5tee5tor*eparefi¢wncial srateftwsforeathflnarthl>wr. Underthat Liwthe TNstEeshaveelected to prepare Ihefinan(ial Statem￿tsin xtordan￿￿th united Kin8dom General AtteptedAccountin8 Prdttke Iuniteil ￿ngdoM￿counting5tr￿dardsand appli(a¥e lawl. Tr*fiAancial staternentsare required tylawto8iuEa t￿￿and tsirbiewofthe State of affairsof thechailts￿e company and of theSu￿￿50rdeficf<0f1he(Lynpa￿Yf0rthat1¢Wd. In preparfngthesefinancial sratemwt& the Tru5teesarerequi￿dtO.' Select5uitableaccwnting wlKiesandthen aN*th￿ observethem*h(*Jsand prfnd￿ intheCharibesSORP 2015 IFK4102L MakejUd￿mEnts and e#im*esthat*e reasonable and wdenL' stale whether applkable UK3cc0untin8sia￿￿r￿s ha￿￿ beenW￿￿Ed.5Ub]eEttOarty material departure5 dlsclosed and explainedin thefinamalslatet￿ts.' and wepare thEfinancial 5tatementson thÈ80in8ton¢ern ba95 unks5￿lS inappwriateto presumethatthecorrynyw5llc￿tynUe in TheTwStee5arerewn￿trAe for k£wnÉ pr0peraccoth7tl￿ftcord$￿h￿h disdo*with reasonableaccu at anytime the flnanclal oftheCharitab*Comparryand e￿ab￿theffl tOen￿rÈthaIthefinan￿aI statements COrnp￿￿IthlhecOmpan1e$￿tsrtts presented ￿t￿those rEcord5. 1lalsoincludtsc0n5￿erdt￿ of afty unu5val itorr6orthsc4osure5 theaccounts. 5eEknDBoxpknationsfrfynytyJ &strU5￿co￿r￿1￿g￿nYSUchrnatters.The procedure5 ulldert4ken dor￿P[￿¥￿￿e11lthe¢YldenCethatWQuld be required in aTtaudit•nd am5equentlynoownu)n is given a5tOWhetherthea￿￿t5￿eSe￿ta,lrUe￿￿fJ￿li* and the rewtS5luThfod*ilwm3tter55et out in the Sta￿￿£￿t Wow_ IF4DEPEFIDThTEV4ll￿$TATEMt1￿r lrttonn0ct￿￿ will mvexantsnatitin. rh*rrthrfvasw￿tomy&tt￿￿Xl. IllwhithÉive5 rnèrusMablg(•JS•to b•lin*that inanymawi*l tespeathe r•qukernefft*' . tokeepatcwptingyeu￿Ifi aLcorthtteMthScoi￿ UOdth220llAC¢' . topreparEa¢tyunts ￿E{baC(CrOW#tht￿aCÈwnlI%￿and comWywiththea((oun 4uitornentsofthe 2011Art 121 towhich. in myowAi¢S1), èttÈnts￿slVjUIdbe draw￿￿(￿10￿•0Woper￿￿I￿0￿tsvtj accounts tobe rèathed. P¥IWalkerFCCA 26 High Street Z MPrS ￿Ls th GL4morEan CF627EB Iro*min8 R25ource5from8en¢ratedfun¢ts [￿natIOnS and Legacies Irttynefrom Charlta￿e 3CtMbes IrTh*sIn￿l ItKorne 73J67 76,397 21 4,556 L767 2L688 2.￿1 4556 24A% 7&S23 103,019 26.256 Costsof8enerntin8fvThts Ch3rftable ac¥vElies Go¥ernanctC05ts 14,999 2,647 l4.99J 647 9.195 20251 20.251 9594 16.662 Fund5brouthtforwafd 13 301712 463.223 446￿61 TotalfwthArrledforward 13 164,756 a81.2as $45.991 463.223 Pa8e 8 At310rtober2022 Tan￿blEAsSets 8th148 446,J76 CurrentAss•ts ljebtors Cash at 8ankand knhand 520 502.320 531840 61 448,7r 448.769 CFqdtcrt.. ArrK)untsduewfth4>cA)èye3f 12 1373,27SI 159565 448.769 N•iAu*is 977.713 The Fund5althCh 9sare CapSts1 57 57 Unrestritted IncL¥neFund5 160511 Restrfcted 381W5 302,712 Other 431, 431.66S Toral 977,713 Thetrustte5are sati￿led thatthecompanylseniilled ioextsipiwMfrwthere(wlremElltto otrtain anaudtt under5e£tton477of theCompaniesAct I(￿ reLitlngtosmall ton4)an*> Th*rr￿bers ha¥e notrequlredthe tth)yrrytoobtsin 4naudtt in ar(W￿r￿ewfth sectlon 476ofthekL Thetrustee5a(knowledgethelr respons1￿1[￿eSfortonWn8Y￿t￿￿￿￿1*ntsOftheCQwn*slA 2Cthwlth T￿t0 a¢cvuDtinz recordsandthe preparabtyl0fa￿Tht￿ Theacwunts have been prepared ￿￿￿[e¥JI1hthe 15oftheCtynpan*sxi 2￿4￿1ratIÈt0OYnp?nleS gJbkcttothE5rnall u)rnwnle5 re￿ffle. Thefinantial statefflentson pw7to 12 wereapW0￿1tyth￿8Oard ofTru•aThlau￿rbed 12 May2023 a￿1 weresWon ftst¢haff by. thalrThan T MAtri Cornpany rewstered number. (NJ7S5216 P48•9 F￿thtr￿are￿jed 1022 Thefinanaal staten￿ts have been ryepar￿ Inaccordar￿Y￿kn0Unti￿83rtd ReportlnItyO￿r1tses.$tateM￿Thtfjff Recomtnended Prèttite applicaUetotharibesweparfn8th•racttyJm5in aLcordancewith financial Reporti andBrd applIca￿e in the UKand Repjtyic of I￿land IFRS 102llelfective i ￿anuary2015?-chantie55ORP{F￿% 10211. th2Flnanoal fleF￿n8s￿nd8rdI￿K?b￿knthe UKatySllew￿￿Ire1èrnJ1FR5IO2landthECcffl￿fj￿SArt￿. Theftnancial 5ta1eTh￿ntsarÈNepèrtd￿thehLOryKaI W#b35isofaCcountyn&ry￿dTf￿d ￿1￿J¢￿￿TelaIuatknn PSKinywearCasde (note ￿1. Tawblefixed assets0￿￿tedatCost0r￿o1u8I￿ffi. Thetru5tees are0ftheopin1￿ thatthecurrentm*ketYal￿￿Offthe￿g$l￿ ￿at￿s1th￿tr¥pIraL￿trJ3nd henrer dEpreclatlon hasbeÈftwvth&d. The¥essel isunderydn8a map)rrefftand thecoststo JI CKtlkn2022are(Ixk￿edIn tr4(rte The machlneryandtquipmentfrom Psconwon Ca5tleared15cSD*datthwpurtha5eprfceln 2o15.ThÈ*4ten￿Jre noibeingused aThJ are wsubftrttowearand ￿r.crwUentty￿)tr￿￿ ha5been Wlmded. t￿na￿on5 a￿￿e￿[led0Trthe 5t3terwofftn￿a1ath7tRS inthe￿arIn*ffikh rele￿. Charter l•cOmeisactruedforthe￿r1OWhi(h ftrelate& Income relatingtts ￿$b￿dIu￿15 15 5eparatelydis(k)sed. NoanYJuntsare induded Inthennandal ststementsf¢T5eThlce5thnated ty￿￿nte Inco￿ from 15 recwlsed at Ihe eartverofthEdateonTrh*kth ew. thethaiity¢5awareEhatyob•te ha5 LYenBranted,theestatefinaltsed and nottfkatlaniecei¥ed th#ritytJJatadlttrttr4JthOn￿ll bemade orha5 been recel¥ed. Retèipt ofa *cy. In whjkcwin par¢ lsonty(t￿WsPrWYPrObab￿wheThtheaM0￿rrt (an bEffleawred re113btyandthethaiity ThJtifiEd oftheexeMofslntenixM)tomakea dlstrlbukn. Res(￿r[e5eXPenlleaarÈre(￿W￿Then a lla￿￿￿151nUJrye￿. Costofgenern￿n8fun09a￿thO*¢o$tsInvjlred ts1atrrxi5rg￿untrry ir￿ty￿. Chorftatye attNithesincludesresources Èwded assooated ￿them￿l￿te￿3n￿rlps￿nvWearClth. e4uipmEntand any supwtcosts asstyyated th￿¥)seatsmtte* &Y4ernancecostsindudetho￿InCurred Inthe ￿￿￿￿anceOfthe￿*1l1va￿dll5Jss￿tsIfy￿3re rfftn¥rity ass￿ wfth constkntH)naland statutory requirement Unrewiciedfundsare defined as￿￿t&s￿n50r5h1pa￿jotherI￿￿LI￿e received or8aierated futhe objettwe5ofthe CharftyTr￿IhoutfuTEherSpedfbed areavaiLiblÈasgÈnÈral fv Re5trfctedfundsare to bEused fOrspedr￿Wry#jS¢sas￿¢￿J￿￿ tythetfvw. mEets these crfterta,￿ll beldentmedtotheluAI. Donations DonatvJn5-P3ypal 6rftAid PSPS Grant Leeacy iKome 55A57 IL491 7.119 55J57 11,491 7.119 437 1430 7&397 1,767 Charter Fee Mlscellane¢u53ales 21371 2L9n 21AA8 21,688 nds Interest recefved- Treasury Interest recewl-other 1.159 Postoffice box Grantdlre¢iory Ip maintsnanre costs expense5 Premi5e5. Chatham ConsuttarKy Website 3,￿2 LWI 158 239 119 14,999 14.993 9.195 Fund countsnry B3nkchar8ES Paypaltharges 16a 163 Fllln8fee 13 I￿¢7 13 647 13 Notestothe Thecompanylsa wstereo Charitya￿l ￿e￿emptfrom1axatth underWTaxe5AttIW. ThEc￿￿￿1$ steredforvalue AddedT The d4rltyis¢un byse¥Enw)luntser&t*thoarethEtvus*thaThJ ha5w ￿OF￿aff.￿etrUStee￿s engaged asa conststsntlNote 131.Rea5onableand nece￿ry¢xrtafpDCketevnseSareT¥D￿rSed (onsdered appropriate. Expensesreirrt)ursed in ￿ per￿wereEN1Il2O2I.ENIll. 10 Tanglblo Flx•d A•••ts stan Al l May2021 dltlons Revaluation At31 October2022 11.176 446,176 371.972 37L9n 435.OXI 818,148 At l May 2021 t*precktbn At 31 Cttuber2022 37 972 81&148 44&176 PS Kingswear C3st￿WaS￿alued at ￿35.{￿K}In 2(th. other machlnery representsthe en8lneand assotsaied e4uisxnentfr0mpsc4mpt￿)CaAJP(￿sterShIp0f Kln8swear Casiiel purtha5ed Sn 2015. li l Fund Other DÈbtor5 Taxatlon- VAr ).iyJ 30,i¥J 330 Ilotqstoth• NnaTrd•lStstefflents Trdde credltors Prov￿10n f￿refitCos Othetcredltorsand a¢(n￿lS 3n,972 37L9n IJ03 371.972 373.275 Atl May 2020 &Jrplu5forthe yearended *JWI 2021 At 30Aprll 2021 Surplusforthe perfod ended 31 Ortober2022 A¢31 Qktober2022 I46￿ 299.911 416361 13, 16A62 160511 302,n2 463,223 4.245 78523 81768 164.756 381,235 545.991 431.6 57 87&283 16,662 57 894.945 81768 57 977 713 431.665 43L665 Vntll 30Awl 2021 restricted fundsrekted %Jknyto rundsuander￿0froTh thEP3{￿￿5Iea￿PreseThati0n SooetyipsPSI in 2014.Theyhad been rin￿nced}￿the PsPSformaintenan￿War*0n P$￿n￿EarC45tteand fF*n tsansferredio PSK￿. 0on3tions reoi¥ed in respectof thÈ'2D23 Rebuild, ha%*been iThdud￿.The co*sof maitir￿X)r*￿ ￿n￿WearcaSUe a￿4¢*?￿1￿d herreser¥e5 relatetothe revalua¥on olPSknn8*TrrCaAIEln 3)X Sharecapftal reprwts55£1 5haresareiswedfv1typa￿.' Il£1 tha￿￿￿*025p part￿. PaiivTr•nMtl Onettustee rEcefved consuttarKyfee50f £IIIWlThthewiod ÈndÈd3llknobEr20221£7.2Tr)￿arQnde￿ 30Aprfl 20211. Thls relatesto ser¥￿eS￿e¥Ond thedutiesof a tsu5tee.Inr0nr￿1oD technKaland re8ularorylssuesand Ilaison wth Kin85wear Castle'schartwets.Thefee5areapprob*d in wrthnowithyray*9rlthètomFonV$4rtWesofknocktiOn. The majority 5hareholderoftheTrLtsttsthe padd￿5￿a￿erpr￿seTha*&7nSr￿xNYlp￿5j Icharttynumbtt 216n5aiwhith hol0$55 sharesofthefA Issued183XI-