Funding didn't run out, they raised £27k, what happened is CRT are a bunch of ******.
Our (trainees) scheme was only ever 18 months and paid for by the heritage lottery foundation. Started off fantastically with Dave Linney at the helm and we had done a number of recording exercises with Ferret, deconstruction etc all in accordance with the national historic ships guideline (and pressed upon them that Ferret wasn't the boat we should have been doing being fairly ununique). Rebuilding Ferret was going to give us the opportunity to get experience in a number of different skills.
It is a fairly long winded story, but to cut to the chase, a fairly horrendous member of staff decided he didn't much like Dave or the liability of the boatyard and spent a few months trying to push him out with aborhant bullying tactics and then took us off working on Ferret and told us we would instead be learning woodwork by hanging new gates around the museum. As I objected to this as I had signed up to learn historic boat restoration, the bullying tactics also turned to me. They eventually pushed Dave out and gave him a final written notice for smoking a cigarette whilst sat on a bench in the top basin at 7 o'clock at night after he had started working at 6am to crane a number of boats around.
After Dave left, we were permanently pulled off Ferret as due to health and safety regs we couldn't needlegun and could only do 1 rivet a day due to vibration.
After we the trainees left, Ferret sat doing nothing until they shot blasted her to within an inch of her life (despite EVERYONE telling them not to) and then threw her in a shed.
I could go on, but I'm currently on holiday in Turkey and just thinking about it makes me shake with anger and sadness. It took me a long time to get over the way I was treated there and I didn't experience half Dave did. Thankfully I am working with Dave again at a proper boatyard and now doing a proper restoration job on my own boat, Canis Major.
None of the £27k was spent by the way. Most of it came from the People's Postcode lottery which was donated to CRT in general. A friend of mine donated £1k and after many complaints, he got his money back and donated it to a more worthy cause