My interest, again, drifts me towards late 19th - early 20th century naval development, when warships looked more like jewel boxes and not tools of war.
This is going to be a full-hull toy ship, reminiscent of the colonial gunboats employed by the great powers, with a few guns and a minimal superstructure.
I intend to make her sea (or bathtub) -worthy, so right now I'm making the internal compartment water-tight from the inside, with lots of PVA. The large washers serve to keep her point of balance low, something really difficult to do if one plans on using just a block of wood. The outside part will be dealt with using synthetic varnish over a few coats of pink paint.