Varnishing an old rowing skiff

Hi there, I wonder if I might seek some advice? I have recently boat an 1887 Thames pleasure skiff (21 ft long, made by Salters of Oxford) and I am trying to work out how best to proceed with it.
The outside looks great and would appear to only require a light rub down before varnishing (I've bought some Le Tonkinois), but I am more concerned about the inside. The (very) old varnish appears to have shrunk and coagulated into lumps and ridges, leaving thinner layers in-between. Do I need to strip it all back down to the bare wood or can I go part way?

Also, when I took the tarp off it, I managed to spill a couple of pints of water into the bilges, which then proceeded to drip onto the trailer below (I presume via the join to the keel). The boat has been drystored for years, so the question is what do I do now? I can see three options:
1) pop the boat in the water and see if it takes up and seals, but if I do this, how long should I leave the boat to dry out before I varnish?
2) rub down and varnish the outside of the boat, maybe try and put some varnish along the bilges on the inside, and then get on the Thames and try it out
3) not put it in the water at all (taking advantage of the fact it is thoroughly dry) and do the lot (varnish outside, strip and varnish inside).

I am tempted to go for 2), because I really want to use it, but any advice gratefully received.
thanks

 

3) not put it in the water...
Have someone familiar with the maintainance of your skiff type examine the seams and recommend how to go about caulking her and to what extent.
You will need to first strip the varnish from the inside to bare wood, caulk, and build up several (6-10) coats before relaunching. In other words, varnish when completely dry.
Also, sand the outside and add a recommended number of coats. Sand, caulk, varnish. The caulk will prevent too much varnish getting into the seams. When you launch, if the boat is allowed to take up, the caulk will bulge out (of the outside) as the planks expand. Then you can razor off the excess if you like and add a coat of varnish for appearance.

 

Pictures. We want pictures....

If you don't have any, is it similar to the one below?

https://www.apexauctions.com/auction/itemDetails.htm?lotId=38303

 

If shes a Thames Skiff she is going to be clinker built in which case her planking will not be caulked or ever intended to be.
The only seam on a clinker boat that is caulked is the one net to the keel the garboard, if she has been out of the water for a long time she will be as dry as a wiches tit & liable to leak badly. By all means refinish with oil based varnish such as Epifanes, tonkinois or similar, but the dried out seams can be filled with a NON setting oil based ,mastic such as Evomastic first.
As the planking, ribs & centreline structue swell up thiswill squeeze out & cause no damage.
Do not under any circumstances be persuaded to use any modern **** like sikaflex or silicone or worse epoxy!