Will your anchor hold?

I think that's a song to do with the Boy's Brigade. I always got it muddled up with another song, so it comes out as: 'Will your anchor hold on the bedpost overnight?  I've been walking past this wooden vessel in the boatyard, with the yellow tarp, for the last seven years. I have never seen anyone working on it, as you do with other boats, but somebody, I assume is still paying for it to be there. (The Caley Marina is a commercial enterprise.) I wonder what the story is?