David and Johnnie are demobbed ex-prisoners of war returning to David's home village. Johnnie is a keen yachtsman from Australia and David is a boat designer and heir to the famous generations old boat building firm of Harry King & Sons at Pin Mill. They arrive to find that the village has fallen on hard times. They persuade the villagers to help them renovate the fishing smack David had designed and built before the war and convert it to a yacht. By entering it into a yacht race they hope to win orders for new yacht builds and renew the fortunes of the village.