This Pond yacht was designed after the famous Scottish herring drifters of the 19th century which were known as "Fifies".
She was carved from solid, hollowed and fitted with a separate hardwood deck.
The hull has been restored at some point and the paintwork is in really good condition with just a few small marks. There is a small repair around one of the rudder mounts.
The deck is also in good order with drawn planking lines and two hatches. One hatch is removable whilst the other is fixed.
The yacht has its masts but no sails or rigging. She would have had a dipping lug sail on the main mast and a standing lug on the mizzen.
Pond yachts of this design and the similar "Southwold lugger" were made with this construction in the first decades of the 20th century. They carried large rigs because of their weight/displacement. In later years they were made in modern materials and I understand that you can still buy fibreglass hulls for home completion. Southwold luggers are still raced to this day.
This yacht, in her black and red paintwork, is quite striking and could be used to display as she is, or you may decide that she should be restored. 
If you would like further details or photos of particular areas of the yacht please do not hesitate to ask.