Thanks guys - I knew it was technically possible. I wasn't sure if reducing the model would affect its sailability.
Yes, there will be an effect on sailability if you reduce plans. Whether it matters or not depends on the type of boat and degree of reduction. For example, if you reduce the length by half then the hull volume will only be one third of the original size. This has a major effect on sailing boats as the sail area can rapidly become far too great for the size of hull! It is less of a problem with powered models but you can still run into stability issues if you reduce by too much depending on the nature of the prototype.
Poor stability is a common problem with many types of model boat where the builder hasn't fully understood the issues involved.
These effects can be quite significant but to give an example with full size boats, a 35 foot yacht will, to most intents and purposes, be twice the size of a 25 foot one.
If you can give us some idea of what you are thinking of doing then we can give you some idea as to whether you are likely to run into any problems and, if so, how to deal with them.
Colin