This is a large pond yacht with a wonderful hull shape. The long keel, beamy design suggests that she is based on a Bristol or Channel Islands pilot cutter. 
She has black and white paintwork but it is in poor condition and would benefit from a repaint. Overall the hull is in good order although the rudder requires a new blade.
She was carved from a single piece of pitch pine. The deck shows shows the lovely orange colour of the pine and the hull is heavy enough to suggest that she may not have been hollowed. 
The yacht has her original mast and bowsprit but they are both broken. The gaff is present but not the main boom. There are the remains of 3 sails but they are in poor condition and may not be original. They could be of use as templates.
In our opinion she would have had at least 2 foresails, a gaff rigged main and a topsail.
This is a very worthwhile project as working pond yachts from this era are now few and far between.