Waverley Steam Navigation Co Ltd
Latest income
£5.5m
Latest spending
£5.6m
Accounts read
FY2025
Form
Company (the charity is registered with Companies House)
Financial health, per FY2025 accounts
The accounts state that the charity reported a net deficit of £52,362 for the year ended 31 October 2025, with total unrestricted funds of £2,736,991. The trustees confirmed that sufficient funding is in hand to commission the vessel for the forthcoming season and adopted the going concern basis of accounting. Total funds carried forward stood at £4,399,387, reflecting a slight decrease from the previous year's £4,451,749.
What the accounts disclose
Highest-paid employee band: £60,001 - £70,000
“One employee received remuneration between £60,000 and £70,000 during the current year” — page 23
Per FY2025 accounts as filed with OSCR.
Payments to trustees: Waverley Excursions Limited paid remuneration during the year to two of its directors, who were also trustees of Waverley Steam Navigation Co Limited, totalling £80,770.
“Waverley Excursions Limited paid remuneration during the year to two of its directors, who were also trustees of Waverley Steam Navigation Co Limited, totalling £80,770 (2024 - £76,978).” — page 23
Per FY2025 accounts as filed with OSCR.
Related-party transaction: The Paddle Steamer Preservation Society is a related party by virtue of its 67% shareholding in the company. Grants and loans towards specific preservation projects undertaken by the company are received from the Paddle Steamer Preservation Society as decided by the trustees of that charity.
“The Paddle Steamer Preservation Society, a charity registered in England and also in Scotland, is a related party by virtue of its 67% shareholding in the company. Grants and loans towards specific preservation projects undertaken by the company are received from the Paddle Steamer Preservation Society as decided by the trustees of that charity.” — page 6
Per FY2025 accounts as filed with OSCR.
Employees paid over £60,000: 1
“One employee received remuneration between £60,000 and £70,000 during the current year” — page 23
Per FY2025 accounts as filed with OSCR.
Reserves policy: ensure sufficient funds are available to meet expected maintenance, survey and refitting costs... and to endeavour to make provision for a contribution towards major capital expenditure costs (held: £2.7m)
“The trustees’ objectives in respect of reserves are (i) to ensure sufficient funds are available to meet expected maintenance, survey and refitting costs in respect of Waverley and to retain key personnel and infrastructure and (ii) to endeavour to make provision for a contribution towards major capital expenditure costs which are incurred intermittently to retain Waverley in operating condition.” — page 5
Per FY2025 accounts as filed with OSCR.
Trading subsidiary: Waverley Excursions Limited
“Waverley Steam Navigation Co. Limited owns 100% of the issued share capital of Waverley Excursions Limited.” — page 26
Per FY2025 accounts as filed with OSCR.
Independent examiner: Henderson & Company
Per FY2025 accounts as filed with OSCR.