for the Period Ended 31 July 2025
| Directors report | |
| Profit and loss | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 July 2025
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
18 July 2024
to
31 July 2025
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
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As at
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| Creditors: amounts falling due within one year: | 3 |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 July 2025
Basis of measurement and preparation
for the Period Ended 31 July 2025
| 2025 | ||
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| Average number of employees during the period |
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for the Period Ended 31 July 2025
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The Kathleen & May Community Interest Company was established in 2024 with the objective of acquiring, preserving and promoting the historic schooner Kathleen & May for the benefit of local communities, visitors, volunteers and future generations. The Kathleen & May is a nationally significant heritage vessel built in 1900 and recognised as part of the National Historic Fleet. She represents an important surviving link to Britain's maritime trading heritage and the coastal communities of Britain and Ireland that relied upon sail-powered commerce throughout the twentieth century. The vessel is recognised as part of the National Historic Fleet and is widely regarded as one of the most significant surviving British-built coastal trading schooners. The CIC was established not simply to preserve a vessel, but to preserve and share the stories, skills, traditions and experiences associated with Britain's coastal trading communities. The Directors recognised from the outset that the acquisition of a historic vessel of this significance would require a carefully planned and sustainable approach. Any future transfer of ownership would need to be supported by robust governance arrangements, stakeholder engagement, long-term stewardship plans and the identification of suitable funding opportunities. During the reporting period, the Company therefore focused on developing the organisational, community and stakeholder foundations necessary to support these objectives. The Company was led by three unpaid Directors and supported by a core volunteer team of eight individuals committed to the preservation and promotion of maritime heritage. The core volunteer team collectively contributed more than 4,160 volunteer hours aboard the vessel during the reporting period, excluding time spent preparing for events, fundraising activities and administration. A further eighteen volunteers supported the vessel through public events, visitor engagement activities and behind-the-scenes assistance throughout the year. Volunteer activities focused on routine maintenance, conservation support, public engagement and heritage storytelling. Through these activities, volunteers helped share the history of the vessel and the wider story of Britain's coastal trading fleet, ensuring that maritime knowledge, traditions and experiences remained accessible to local communities and visitors. A key focus of the Company's work during the reporting period was community engagement. The CIC supported and participated in a programme of public events including Heritage Open Days, a volunteer-supported Sea Shanty fundraising event and the Santa Experience. These events enabled visitors to step aboard the vessel, learn about her history and engage directly with volunteers passionate about maritime heritage and conservation. The Sea Shanty event was made possible through the generosity of performers who donated their time and talent in support of the vessel and its future preservation. The event combined fundraising, heritage interpretation and community participation, helping to raise awareness of the Kathleen & May and the importance of preserving historic maritime assets. Public open days and heritage events welcomed at least 1,175 visitors during the reporting period. Attendance included two large-scale public events attracting approximately 573 and 602 visitors respectively, alongside smaller specialist events where visitor numbers were intentionally restricted to maintain the quality of the visitor experience and ensure safe access aboard the vessel. These events demonstrated significant public interest in the Kathleen & May and the wider maritime heritage of Gloucester Docks. Many visitors engaged directly with volunteers aboard the vessel, creating opportunities for intergenerational learning, heritage interpretation and the sharing of personal maritime and family stories connected with Britain's seafaring past. The Company actively engaged with National Historic Ships UK and a range of stakeholders within Gloucester and the surrounding region to promote awareness of the vessel's significance and explore opportunities for future collaboration. These discussions helped inform the development of a sustainable long-term vision for the future safeguarding of the vessel and strengthened community support for her preservation. The Company's activities generated community benefit by: Supporting more than 4,160 hours of heritage volunteering contributed by a core team of volunteers. Encouraging volunteering, skills sharing and community participation. Promoting public access to maritime heritage and heritage learning. Sharing the stories, traditions and experiences of Britain's coastal trading communities. Raising awareness of traditional maritime skills and conservation practices. Strengthening engagement with Gloucester's historic docklands and maritime heritage. Supporting opportunities for intergenerational learning and heritage storytelling. Building public support for the long-term preservation of a nationally significant historic vessel. The reporting period was focused on establishing the Company, developing a committed volunteer base, engaging local communities, strengthening stakeholder relationships and laying the foundations necessary to support the future acquisition and safeguarding of the Kathleen & May for public benefit.
The Company engaged with a wide range of stakeholders during the reporting period, including volunteers, visitors, local residents, heritage organisations, maritime professionals, local businesses and organisations with an interest in the future of the Kathleen & May. Consultation took place through public open days, heritage events, volunteer meetings, stakeholder discussions and ongoing engagement with National Historic Ships UK and local organisations within Gloucester and the surrounding region. Feedback consistently demonstrated strong public interest in the vessel and widespread support for efforts to secure her long-term future. Visitors frequently expressed appreciation for the opportunity to step aboard a nationally significant historic vessel and engage directly with volunteers involved in sharing her history and supporting her preservation. Volunteer feedback helped shape priorities for maintenance activities, visitor engagement and heritage interpretation, while discussions with heritage stakeholders informed the Company's developing plans for future stewardship, public benefit and organisational sustainability. The Company remains committed to ensuring that local communities, volunteers and stakeholders continue to have opportunities to contribute to the future development of the organisation and its heritage objectives.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
11 June 2026
And signed on behalf of the board by:
Name: Karen Taylor
Status: Director