THE PADDLE STEAMER PRESERVATION SOCIETY

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Henderson & Company

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The accounts have been prepared on a going concern basis as the trustees are of the opinion that the group and charity can continue to meet its obligations as they fall due for the foreseeable future. The group has a strong cash position at 31 October 2024 as shown on the Statement of Financial Position.”

Group structure

1. THE PADDLE STEAMER PRESERVATION SOCIETY · parent
   1. Paddle Steamer Kingswear Castle Trust Limited 83%
   2. Waverley Steam Navigation Co. Limited 67%
   3. Waverley Excursions Limited 100% · wholly owned subsidiary of WSN

Significant events

• “Undoubtedly the outstanding event of the year was the first meeting of Waverley and Kingswear Castle on the River Dart on 31 August 2024. The sight of both our steamers sailing up the river was witnessed by huge crowds lining the banks of the River Dart, accompanied by many whistle salutes. It was a remarkable achievement for the Society, being the ships' first meeting since 2012.”
• “2024 was the centenary of Kingswear Castle and this was marked with special flags and an invitation event for 100 guests, who were conveyed by a special train from Paignton to Kingswear, hauled by another centenarian GWR 5239 Goliath. This was followed by a lunch cruise turning at Stoke Gabriel.”
• “Sadly, just after our year-end, the death of one of our Patrons, Timothy West CBE, occurred on 12 November 2024.”
• “Waverley completed 125 days in service and 13 planned sailing days were cancelled, an increase from 2 in 2023. 11 of the cancelled days were due to technical issues. The forward windlass caused 7 of these in two separate incidents, a crack that appeared in the bed plate then leakage in the steam-block of the engine. Problems with the starboard paddle wheel were the cause of four lost days.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +5.6%

  £4,509,502 → £4,762,195

• Cash

  +31.3%

  £2,836,186 → £3,725,059

• Net assets

  +16%

  £5,874,568 → £6,813,722

• Employees

  +2.8%

  36 → 37

• Operating profit

  -13%

  £956,366 → £831,889

• Profit before tax

  -6.7%

  £1,004,875 → £937,115

• Wages

  +11.6%

  £1,152,337 → £1,286,397

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers