Part 1 is the main part of the UK Ship Register for commercial boats and for pleasure boats you make no money from. GOV.UK says it lets you register a marine mortgage against the boat and spend more than 6 months outside the UK. It costs £153 for 5 years.
What a surveyor checks
Compare the registered name, official number and dimensions with the boat and its builder's plate, and note the registered owner against the seller. PBO quotes a broker who sees Part 1 as often a clue that a loan was used to buy the boat, so a buyer should check with the registry that no mortgage is outstanding.
In the report
"Registration: Part 1, UK Ship Register, official number and registered length as on the certificate seen. Registered owner matches the vendor. Mortgage status to be confirmed by the buyer with the registry before completion."