ANNUAL REPORT*J405TATEMENtOFACC￿PIrS
comP￿￿RESA5rERE0?4u￿8EP:Lxtr7SS2l6
CHARllYREGmRED MJMBER." 29W31

Trustee53￿4AthlsOrs
IndependentEy¥rran&sRew
Statsrr*ntof Finar*al￿1￿t¢￿s
BalancÈShE

PIAEI
l H Me8oran Ichalmianl
G F Hundyldied 27[kn)li*￿21l
RJ Martin
J R McKee
Rwaèm￿r
Twcorthorn
AWGIII
Z6HIthStreeL Bary.5oUIhG￿￿￿wTr. CF6Z7EB
INl•wrthrtEx•rnifW
P Rwalker ￿ 26Hf8hstree( Bwry. SLXrthG￿￿￿V8a￿. L7627EB
CAF Bank Ltd, 25 Kirrz5HtllAvenue, finz5 Hill.We5t MallinL ME194KI
C01FChar￿Qs0QPO￿ Fund,8SQueen vktoda StTeEt. London, EX4V4ET
Cambrid8t&CountiesBahkLtd. 58Ntsfwali L•celler. LEI 67E
Monmothshlre Bulldln8Socffj, knhn Frostsquare, Ilvwi. NPZOIPX
Redv400d 8ankLtd, Bro8d%Y3y, LeLchworthG3rdeniJty. Hertfordshire.SG63TA
VIr￿n MontylCWle 8ankLtdl. >)StYirKentH&e, GLisDiw.Gl 2HL

ForthoY•ar4hthd 31ikloberèJZ3
TheTru5teu presentthelr and ac¢ountsfOrthe￿rend￿d 31 CKtober2023 in rornrAlan￿wilti current
StatU￿ryregUIreWts. thecornpany's MemDrandumand Art￿le$ofA55warXjnand ￿￿nting0Th￿ Repo￿nI
Charibes.'5tstem2ntof Retomw￿eO Pracbce ISORPI a￿￿abIetocha￿ties ￿paringthEIr￿cC0Unts Sn
accordan￿ wlth the Flnandal Rwtin8Strd￿Jard 3pp￿ab￿t0th@U￿arMI w￿￿of1￿13nd (FPS 102landth
Conwanles*A 2Q
The Princip31 actithofP3ddleSteamerKin8swear¢4thTru5tDmired IPSKcf) contin1￿$t0 ￿the￿est{VOtiti￿
and restornlonof padd￿ Stea￿r bry￿arCas￿eandto er￿tr￿e3￿1de range 0fthe￿neral publictogain
experfenceofsailingon a padd￿ 5tearner.' aTrJto malnEaln artyfactsand 0￿n￿tsre￿tedtO th2shlpand
padd￿S1eaMerK1n￿arcaSdt1rU#umrted on 27Marth 1963.Th￿7therf￿2IG.
TheCornp3n¥wasyanted<harila￿5￿lusfr￿rn 17AUV￿1￿aThIfjs r*eredYhlththeCh•ConYrtlsskJn.
nurnber299931.
TheTrustees lTr**oareall DirEctL¥501theCwxryforthe wrpxe50fCryrrybwl*ho serb*d d￿nI
theyearunder rewewwere=
J M Mewan I0￿1rman)
G F Hundyldied 27 [kn￿ber202Z)
RJ Mèrtin
J R MCKee
Rwcbmrrer
Twcorthom
AWGIU
TheTrusteesare subjeat0e1ect￿ or rfrelECtkna￿l￿tO ￿￿edureS*t(￿￿knth￿c￿Vrf$

Thecompany operate5throu8ha Boardof DireLtcr5*thxh alsoXtsasTrusteesforthELthxitableact￿￿@￿OF
thecompany. TheTruSteeSdettrnx￿th￿8￿neral WiVofthÈG)rn￿rry.
who brfn8theirexpertise3ndenthusla￿￿suPW￿th￿￿QJe<1.
The companyisasubsylkiry ofThe Padd￿steam￿ P￿Se￿ati￿$0￿etyiP5PsI whith hDhlsthe Ma￿ty¢S510f
s Wued sharekThere are 11 partty paid shareshdd trIOth￿.￿N Mey4n-3 F Hundy-3 sha￿￿.j
M GDkl. 35hare5andRJ MarJn-
TheT¢usteesexamlhethe malor rfs*5thatthe CoMpanYfa￿when Preparf￿andV￿J4tyrytheir The
Companyha5 d￿￿opE￿ 4sremstoff4)nrtorand￿t￿lheSÈl1￿sto man*anyimpartthatthv4 rnay ha¥e
onthe Comparty1othefuiwe.
Ihe CompanycontSnue5 wlth ￿S prlme0bie£b4tofwe*r￿afyJ($•4￿￿I￿￿Wryl￿￿mthe hi5tor*
PS Kingswearcastle ￿tharteredtOE￿rt PleasuretrdftUrrttedlDPQwhooperntethe shlpon herortpnèl
Watsrsofthe rNerD3rt.The rrusteesOfPSKcfc(wtJn￿lO be￿￿eaSe0 with theoreand attentK)nwith
whkh Iheshlp Isbeln8rwaftdAMa￿Q&WfvUil$wX1￿￿avk￿￿h)tt* sh*'5Qntenaryln 202
OurproBressandsutte55in meEtin8ourobJeaKw ￿Te[*¥re0 in ￿￿￿etail Under'*th￿ry￿entsand
performanc¥.
In settlngcurob*ttt¥esarKI pLinn5￿0¥ra￿￿tie$theTrYsteeshm￿ L7reful Con5[dern￿On to the Charfty
COmrni￿on'sffeneral gukY3nCety)puw￿ be￿fil and inparticularto1t5yjrthmentsrypu￿khenÈrttWK￿ancÈ
on advancln8educatkJn.

Thefirstand t￿51 Wbstan￿￿1 partofKinwarCasde's maF)rrthiW wJscompkted 2023.ThiS
financed bysurplusesfromtradin8duil￿the Methyear5, donafjons, Indud1￿8 grantfromthe P5P5, and
donationsin knndfrorn thecharterer. Aftera hed tesi toche£kthEship'ssiabiityandextensh4tldalswith
thè MCA. theship returned ￿ser￿￿Ort 25Juty2023 runni￿onthe Riw Dart SIXd￿ a ￿￿ekuntI1t0war￿s
theend ofsepternber. PLinnlngand furxl tsi&nÉforthÈsetond pha5eofthe re￿IkY¢￿)nUeS.Thts propo*a
workwll indude reTr￿￿￿the Strake oftshvii#eetworkjust i*lowthedei*frL¥nthett*ne rr￿￿ ￿the
rene￿￿&the dethfOThVa￿ orthèÈnw￿rtstsMtoth￿ kw)w.TheTrust remalns¥ery p￿sed*7thth
waythatthe charterer rnalnuins*JOr￿Ies ￿n￿rCa￿tal¢xKtsehalfand lorthdr
subsiantial dOrtatity￿ in knnd towardsthe rebulld.
Thecompany5yearend hasbeenchawto 31 cKioberirto￿ertts bringitsnto lineYh7thth*ofthePaddle
StEaMErPre5er%￿Ons0thEty. its rnakntharehoider.Thisctsnpwati¥esshtr*n areforthe 18 ￿￿th5frorn I
May2021to31(Ktottr2022.
The resurtfortr*￿rwa$a yJWu5Lrf£19.144.
TheTrUstee$a￿ mindful ofthÈneedforPSKCTtom8intsin >jffi(iw￿ rE5erve5tO Seether￿￿lthfOUth ary
nforeseen Is￿e¥ parricularlytheneedfor unplanned methanKal worL been how tha¢the retysned
fundsofPSKCT. ori&'nated fr0mspetsfKfi1￿tsf0r fow**rCathlTomthe P5PSiTrthe￿areTrjI￿S30
April 2014. would be 5uMdentforany rna5ntsnan￿ Issueswhlch mayfall0LrtsAlÈtt￿$cOpeO[the tharter
aArÈempntwth OPC3ndforthe p￿n￿ed Mak￿r￿1￿1. mvA*wrdetsI￿r￿nS5oftherebUIlO 9JgResi that
thisis notthe case and50 PSKcfiaunthed afUnd4a1￿n8carnpa￿ injune 2021to swrce add￿07a1 donatirm&
AnewWeb￿te has been construrted.Thishaspronw4dfuNI enabknid0￿*xJ￿St0tsetsP
throu8htreweb5hte aswdl as tyothermean*

P*IJDLf STEAMER KIt465WEARCAsfLETRiisr uMriED
TNstee$Report
FtythèYearended31 O¢tol*r1023lConWnwdl
TMstee5 responslbilltiE5 in rElath)nt0￿fwnC4al$l•l¢mtThts
TheTYusteesare re5POnsiblefor prepari￿￿theAnTrua1Rewrfa￿￿thefiTranOaIs￿teMentsIT￿acCCydan￿e with
applicaljle law and regulations.
CompaDY law re4ulrestheTn151ee5¢0 prepareflnancial 51arenwtsforeachfinaKialyEar. U￿￿erth*tIaWthe
Trustses haveelerncd tD prEparethefinanwal 5tatemEnts in a¢cwda￿eW7th United K￿l￿orn6￿￿erdF
Accepted Atcounting Practice (United ￿ngdomI￿OUnti￿st3nd3rdsand applicablelawl. The financial
statemenrsare rEquirÈd bylawtoiwe a fwe and faYTrAew of ihe state Dfaffairs olihe ChJritsble C¢xnp3ny aTrJ
of the Surplus ordefi£it ofthe companyforthat PEriod. ln Pre￿ring￿*Serinanthal 5tsler￿nts. rhe Trus￿e$
¥t¢ rèquired to..
Select5uirable accounting poliue5 4ndtheh applythem C{￿￿￿tty,.
ob5Ervethe method5 and prifidplEs Inthe ChaDtiesSORP 2015lfR51021.'
makejudgEmentsand estim*e5 thatart rea50natye and ptude
sthtewhether appli<able Uxaryountin¥standardsh￿ebEeTr followed.subjorttoaThy
rnatÈrial depart￿re5 discloA ènd e¥plained iflthe finaDual 5tstements.,
and preparÈthefinarKial 5tatementSOnihewin&tonttrn bagsunlE55tt iSinapprogr&teto we5urne
thatthECrynpanywlllcontinwin busin
TheTru5teES are resp0nytyeftsrkeewr￿WOp¢r¥C0Un1inlreCQr￿Swh1chdIs￿oseWth ¢asonable xuJraLV4t
anytime therina￿l31 poyiion of thÈ£hafitable ((￿Pany•A0enébletherntOÈhSurethOttheflna￿￿al
tementscomptywith the Comp4nie5 Act 2￿6. TheyaFEalso respJnsibleforsafÈÉuardingthea55etsof the
Charitable Company and hErtefortskn"ngreas￿atye 5tepslorthe prtrentlon a￿ddeleCtiO￿0ffPud aTrd other
In so lJrasthÈTriJ5tees. jylttkniiual*. are 3*7Te'.
There Isn0￿1*￿antIThforMatiOn0f1thhthEchari￿￿e ctyiwn<sexamineri5vnaware', and
theTruStees hè¥eiaken *1 stepsthat theyou&htto ha¥e taken ro themset¥esawareof any
relevant Inlom)aik)n andtoe5tsblishthattheeK6rnirtrlsaware of th*infotmatv)n.
TheTru5reesare rE5p>nsl￿e f&rthe mw1Ntena￿È and intryity•fthecorpwateand an¥fina￿al inlorm3ti0n
includÈd on the CLryanV5wÈbshe.
8yorderofthe Board
Date..
2Mar¢h 2024
tan
rector
26 Hlth srreeL ga￿, knjth 614rnor8an, CF62 7E8

dhlsMtr¢9wrtdlY*>*wundeFS¢EtAM11442ldthE(JwA￿￿L*Zljll(thEI1￿l￿}￿th#
IIL%nryrwon4trANtyIO.'
Sect￿ 145t511bl ofthe20LI #rt.￿J
irÉiMhtsor￿2ol1￿¢
PR Walker FCCA
26MIth Stre
i%l41
Sjuth
(5627fB

stsw*rtoIWIN￿lAc￿¥thS
In￿r￿n￿ResLyjr￿lroM8er￿Iedfv1￿ts
Donatlonsand LeÈatses
IncornefromCharftab￿attM1be5
Inve&tmentlncome
26.491
27591
IL794
76,397
21
4￿56
11794
.894 33
47A58
lo3￿19
Costsof VnEratlngfurKts
ch3rftèbleacti￿tIe5
315
fA>5
14,999
1647
2L￿j
Z4929
L070
2LIYJ
18314
20.￿1
&rn
19.144
Fundsbrowiforward
i61.￿ 38LU5 545,9
463,223
171535
93.Fa>
S45.991

PADDiE sTEA￿ER KINGSWEARCAmETRiJsfuMtrEiI
8alanreSheet
At31¢X-thber 1023
October
31 Ortob2r
2022
TangibleAssEts
954.962
818,148
CurreniAssets
DEbtors
Cash èt Bankand inhand
li
17.474
L46.169
163,643
3V,520
502.320
532,840
Credhors: ANK)untsdue wiOunonE)tar
1121.7481
1373.2751
Netcurrent èmets
41.895
159,565
NetAssets
996.B57
977,713
TheFundsofthe Cha
Sharecapital
57
57
Unre5tdrted IncomeFwwJs
17L53S
164,756
Re5trirted IncompFunds
393.EOJ
38L23S
other reser¥e
451￿65
431,665
Totalth&rityFunds
956,857
977.713
TheiFu5tee5 are5ac￿rIed thatfhecompany Is entttled to exenwthn from ￿ requvernenttoobtain anaudlt undersecdon 477of the
thmpanies Act 7W6relavn8 rosmall companles.
Themembers havt not requirEdthe tornpanyto¢)btsknan a￿•1 in aCCwdar￿*1thSeC0tsrt476￿f￿ ACL
The trustee5 acknD¥AedgE theirrespon￿￿IirI¢51Or(orW*l￿¥JYth the requirements dthEC¢xnpènie5Aci 2f*)6wlth respectto
acttsuAtinwrecDrdsand thEpreparaiion of accovThts.
The accounts ha¥e been kvepared In actOtdancè￿thè￿FitS￿ ￿ Part IS of th? coMpan￿ArtI￿6 appli￿￿￿ tocompanie5
subjecttothesrnall companlesreglme.
Thefinantlal statÈmertts ¢n page$ 7t0 12wereapprg%Yd Board of T￿￿ee50nd a￿h0rttedf￿rl$sUe 2 M4rth 2024and
were 5iÉnedon itsbehawbv..
Chaiman-
egoran
Companyregi5tered number. CQ755216

ForthEytsf•b¥J•d 30Awll 1013
Theflnanttal ststeffentsh￿t￿ prepared in KI(￿r￿e*Sth AcctyjntinEa￿I Refftn8tyChaiib&' Ststementof
R￿0mmended pr4cbceap￿lCab￿tocha￿ltIes prepBrin8lheSraccounts in acto￿ants￿ Finandal RerrinÉStandard
awkable inthe UX and Republicof Ireland IFRS 1021 leffecti4t iJanuary2015I-CharfdÈsSORPIFAS 10211.the Flnandal
Reportln8Standard appllcat4ein theUKand RewWtollrelatsJ(H6102land 0*c￿par￿esAtt￿.
ThefinandalststementsartweparEdonthe h￿or￿al CO51b￿0f1c¢￿Wth￿& nb>Sfledth 1ndthJethe￿d1u8U￿tsf
PSKin8SwearCasUe (note 101.
Tan￿b￿fiMed wetsare #ated atcaoorw4luati
Thetiusteesare 0fthe0plnhinthatt￿Cuts￿tMarke1V&lUeoftl*¥￿Sd Isat*aythat(apitalised.
The vessel Isunder80in8a maj¢rrefitandthEC05tsto31 C*tober2023are¢*s(WinNOtelQ The refitcostsare be1Tr8
deprecLited ¢¥er 25yeats. 4XstrJthttsne.
The machlneryandequipwtfrryv Pscoryton ca￿e areth5d05edatthelrwr£hase fv in 2015.Il*se iterrffjarEnot
belngused andarenot5ublecttowearandtear, c0nsequentynodepre0ati.￿ hasbeen p￿ded.
Donatlonsare credited ￿ thestat¥neDtLrffiTrancI￿￿ctMUesththe￿wr￿¥jhkhthe¥a￿ recei¥td. Chart
Inwrne 1$xu￿0 f0rthey*towhKh￿re￿eL1n£affie re￿ngth re#rktedfvndsisseparateIydL￿.
In¢orre from *c*5 L<reC￿l$ed atthe eart￿rofknÈdltQ0nlh*K￿ethr.th￿th¥rfty LEawarethat prob*e
has t*en Èranted.theestatefina115ed and nobfKatknn rete￿ed tythe charitythata Lli5tritxrtwJn will bell￿decI
has been rece￿d. Receiptofa lew, inwhde or in part. isontyconydered kYobab*wherstheamDunt can be
Resourcesexpended ate rttoBnised whena IL?￿1￿ ts ￿n￿rre
Costof 8eneraiin8funds arEth05e(05ts1ncurred In 3ttrath￿￿UMary1nCOffle.
Chariiable athbibes ihdude5 r￿A)UrceseXpendeda￿￿iJled￿iththerrA1n￿ar￿o1ps￿nYwearcasU&
equipmentand &ny5UPPCrt Co5tsassodated￿thtsseJCth
GO¥errn3n￿CDst51nclUdeth0*IncYtse￿ ihthegwh8r￿oltheth*rfv3￿dItsa5Setsafy￿are￿rnarf
UnrestrirtedfundSa￿defirted astrtnts.Sprn¥4￿Pand Oll*Tirthn*rttE￿d L¥Ben￿2dfortheL*jjELtr*YS
of t1￿Charl￿W￿0utfurtherspec￿fied purp05eand whkharewnitsbleasgeneralfuTrJ&
Restrfctedfund53reto be u￿fOr5rth purwsesa5kh4d￿vn ￿thedon￿. whkh meèts
these crtterfa, wlll be klentffied tothefvnd.

8elO
FOrth•￿•re￿￿Éd 310ctobRr2023ICtyrfirwJl
Donètions
Don3tlons-Pmal
GIft￿O
PSPSWe55ex & DartbTrnth
P5PSGrdnt
LeBa¢yintome
17,
1249
17
1249
55357
IIA
7,119
Ll(¥)
LIQ)
26A
27
91
76397
18mon
Cth8rtwFee
Mtstdlaneoussa￿s
11794
21,971
7Y
794
1Trtere5treceh￿- HM Treasury
Interettr*ewed. Other
2,561
s,1
5,115
tdp*rnth¥funds
Prkntlnl
Postoffbcebox
315
315
iyj
2LIYJ
Travel eX￿7￿eS
PrembÈs- Chatham
Consultancy
Website
Ii,LL¥J
239
.199
26,929
14,999
Attountanty
Bankcharyes
Paypal charyes
Insurdnce
MaritlmeTru5t
Fllln8foÈ
1285
163
74
74
270
13
i.on>
13
13
647

p•g• li
Company ts a rw5tered tharftyand isexeTh￿fromtr￿?t￿￿￿￿ssasT*yU￿CI 198& Theconynyls
reosteredtrValueAd¢bed Tax.
The char5tyis run byseyenwlunteers, whDarethetN#ee%and has ￿ Th￿b￿50fStrff. Oretru*eels
ew8ed as3 tonsuttantlNote131. Reasonablèand r*te55JryQUtolpxket expensesare r*M￿r5edWhere
conskleredapwowlate. Expenses reimbursed ir1thefwi￿I wt£Nil12022-£NS11.
10
Tanglw Flx•d As•0ts
Atl November2022
Additbns
R*daluatioh
At31 ottotser2023
4351)￿ m.972
11176
81&148
15&013
176
976,161
Atl No¥ember2022
Depreclatlon
At31 Oclober 2023
21,19
21,199
954,961
371
71
81&148
PSKlngswear castlewasyal￿o at £435.(V)in ￿.
Other mathinery representsthe enwne and a>%¢tiatrJequ4*)Wlmm PSCwrtontathlg5tershlp of￿nIs*e￿r
C35Uel purthased In 1015.
li
other[￿Or$
A23
13,423
3,721
330
1.1
330
Taxatlon-VAT
17,474
30.520

Nrte5totr* siat•merts
20
Tradecre(lftors
Prnyllon forlefftcoks
O¢her¢redltrKsandatUu*
12QW llO,998
371,972
1,303
110,998
12L748
373,275
FuTrJsofthE Ch•rlly
Lln
At l May2021
>j￿1U5f0rthe perfod ethled31(ktobErZ02Z
At3l0ct￿r 2022
SurplusforthtyeareThJed31 ouober2023
Af310tt00er 2023
Iwii ao1712 463.223
4.245
78523
81768
164.ts6
381.235
S45,991
11365
19,144
171535 393.￿￿1 S&5.135
431
57 8Y,945
82.768
977.713
19,144
996*S7
431,665
57
431h65
57
UnUI 30Awl 2021 restricted lu¢th rektedWtOluNtstran￿erredfrumthepadd￿steaMEr Preservth knetylPSPS1 In 2014.
Thtyhad bÈen rinÉfen¢ed inthe P5P5fOrmaihtenancew￿*0rt PS ￿n￿S￿reaS11￿4ThOthenlran5lerred toPSKcf. tknatians
rece1Tr￿ In respect ofthe'2023 Rebulhl. ha¥e beenlnduded.IweoaDM ofthe nWi0rrefft*￿k￿ ￿￿￿arcaS￿e aredebttedto
Otherreserve5 r￿atrIOther￿aluthn rAP5￿n￿r(3￿￿1￿x[e
Shaocapitsl rewe5ents55EI sharesae wualfu1typ3￿:and 11 £lthare515sued 1Sppart pak1.
(knetru5tee recd%*d ConsUhar￿f￿Or￿M0*nthe￿wrended3l October2023I£IIXn). 18mDnthsended 30¢xtrber30221.
Thlsrdatesto SÈThiCÈS bÈwndthe dut*sofatrustse. in connection whhtÈthnKal and re8ulatory Swesand 15alsonwlth Klnwr
cast￿'sChorter￿rkThefet$èrt6pprMd in aCcordan￿￿fthpJraY3￿9Ol￿(On￿¥[￿5MnKleS0fASsLKIthn.
TheTn￿tre￿tsI ￿lkI1n8fWthechath8￿ Hl5toritikKkyardTnJstonanannu￿ baslL Therebwjforn￿lleaSe.
16
The rnaJDrfty5harehdderOftheTrust￿the Padd￿ *eamerPreser￿&Xiety1p5pS11(l*r￿y￿u￿bErZ16785Y1Whth hold555
shares0ftheÉ61ss￿d IWAK