PADDLE STEAMER PRESERVATION SOCIETY

REPORT OF THE COUNCIL OF MANAGEMENT 2000

The Council of Management presents its Report and the Financial Statements for the year ended 31 December 2000.

The Society is a company limited by guarantee (having no share capital), registered in England and Wales No. 2167853, and a registered charity (No. 298328).    The Society is governed by its Memorandum and Articles of Association which set out its objects which may be summarised as to preserve in operation paddle steamers, to educate the public in their historical significance and to preserve relics and other materials associated with paddle steamers.

The Society's principal activities are to assist in the preservation in sailing condition of the Paddle Steamers Waverley and Kingswear Castle and to maintain a collection of historical material relating to paddle steamers.   P.S. Waverley is owned on behalf of the Society by Waverley Steam Navigation Co. Ltd. (WSN) (itself a charity) and operated by Waverley Excursions Ltd.   P.S. Kingswear  Castle is owned on behalf of the Society by Paddle Steamer Kingswear Castle Trust Ltd. (also a charity) and operated by Paddle Steamer Kingswear Castle Trust (Trading) Ltd.

The Society operates both at national and local levels, through five area Branches.   The Council of Management controls the Society and meets four times a year around the country.   The five Branch Committees are given delegated authority over 20% of the subscription income attributed to their areas and promote the Society and organise activities locally.  

The Society largely fulfils its aim of supporting the steamers by fund raising for specific projects to restore and preserve them.   2000 saw the return to service on 18 August of P.S. Waverley following her Heritage Rebuild.   The scope of the Rebuild had to be restricted owing to lack of funds to meet cost increases.   Nevertheless, the results were stunning in the after part of the ship, re-creating her original 1940's atmosphere in parallel with the upgrading of her safety precautions.  The Society has contributed £925,685 to the cost of the work completed so far.

The for'ard part of the ship remains largely unchanged at present, but plans are being laid for a fresh application to the Heritage Lottery Fund to fund the Completion Phase of the Rebuild.  Some of the Society's contributions to date will count as the partnership funding required for this submission.  Subject to funding, it is planned to carry out the final phase during the winter of 2002-03.

The project to re-boiler P.S. Kingswear Castle got under way in the Autumn with an order placed with Wellman Robey.   The Society is contributing £10,000 to the project, which is due to be completed in time for the start of the 2001 season.

The Society Accounts show a  net outflow of funds of £421,413 in 2000, mainly to fund the Waverley Heritage Rebuild. At 31 December 2000 the General Fund stood at £90,220, the Streatfield Bequest at £122,538 and the Restoration and Preservation Fund (devoted to Paddle Steamers Waverley and Kingswear Castle) at £94,266.    In addition, the Society was committed to contributing a further £100,315 towards the cost of the Waverley Heritage Rebuild and £9,065 to the new boiler for P.S. Kingswear Castle.

As the Society has no paid employees its achievements reflect members' voluntary efforts.    These cover a wide range of skills and are essential to the continued successful operation of the Society.   The Council of Management acknowledges gratefully all contributions great and small.

The members of the Council of Management during the year, who received no remuneration for their services, were:

                                JOHN ANDERSON

Secretary

10 April 2001

Registered Office: 17 Stockfield Close, Hazlemere, HIGH WYCOMBE, Buckinghamshire, HP15 7LA