Maud was built by D S Hall of Reedham for Walter Bunn, a builder's merchant of Great Yarmouth. She carried general cargo and timber in connection with Bunn's business. In 1911, she was sold to the Yare and Waveney Lighter Co Ltd, of Norwich and then in 1918 Maud was sold to Hobrough's of Norwich. During Hobrough's ownership, she was dismasted and used as a barge in connection with dredging operations. In 1940, Hobrough was taken over by May, Gurney & Co Ltd. They used Maud as a lighter until after the Second World War, when she was fitted with a Kelvin engine.
In the early 1950s, Maud was damaged in an accident whilst loading coal at Norwich Power Station. Following this, she was replanked from the waterline up, with a new deck also being provided. May Gurney replaced their wherries with modern lighters in the early 1960s. Maud was sunk as a breakwater on Ranworth Broad in the mid-1960s, along with the wherry Bell. In 1976, Maud was moved elsewhere within Ranworth Broad and was resunk. In 1981, it was decided to pile the riverbank where Maud lay, and she was given to millwrightVincent Pargeter, and his wife Linda, on the understanding that the boat would be restored.
Maud was taken to Upton, where she restored over a period of 18 years, being returned to the water in her centenary year. Restoration was assisted by grants from the Broads Authority and an appeal via the Transport Trust. In 1996, she was added to the register of National Historic Ships in the United Kingdom.