Company registration number.. 3 112177 Charity registration number: 1061460 TBGS Charitable Trust (A cornpany limited by gpJarAnteel ArUal Report And Financial St&tements for rh¢ Year Endcd 3 1 Auw512025
TBGS Charltable Trust Contsnts Reference and AdminislrAtive Detai15 Strategic Repon TteeS, Repori 3 to 5 IndepeTLdeni Exwninetrs Report Statement of Finon¢ial A¢tivilie$ Balance Sh¢¢t Statement of Cash Flow% Notes to the Financial Slateinents Ioto 18
TBGS ChArfitable Trnst Reference and Admlnlstrfdlfve Details Setretary Mr AT¥Jrtw Stephen MthuT8t Charity ReRlstr4tlon Numb¢r 1061460 Company Relbtratlon NuDther 3112177 The charity is in¢orpornt¢d ID EnBland and Wales. Torquay Boys Grammar School s.pbaY Manor Drive Torquay Devon Reltered Offlee TQ2 7EL Page I
TBGS Charitable Trust Strategle Report for the Year Ellded 31 August 2025 The trLLgtccs, who are dirKtors for the pwposes of ¢ompany law. PTes¢nt theii strategio T¢POrt for the yeaT ended 31 Ausust 2025. io eompli8nc¢ with 8414C of ibe Compow¢s Act 2006. Thest gic r )rt wo8 approved by ibe tnjstees of tht charity on I l March 2026 and siwd on its behalf by.. Mr lan Dougl Fraser T1¢¢ P8ge 2
TBGS Charitable Trust Trustee8' Report Th¢ tru8tee$, WIK) are directorB for the pwp05e$ of company law. ps¢nI the annual report together with thc financial statements and auditors, re)rt of the charitable company foi Ihe y¢ar ended 31 August 2025. ObJectlve9 and 4CtirftleB Objects 17nduim5 The objective is to provid¢ a publi¢ benefit by providing ftnd improving facilities for the pupils of the Torquay Boys Grammar School, which is a non fee p&yin8 school and which since November 2010 has been an acadeiny. ObjecilveJ. 51r4lEgie5 aHdaciivliies The tru$r raises fijnds by regular donations from the parents of pupi15 at the school. Tnainly under th¢ 8ift aid scheme, which en4ble5 the tN8t to obtain tJx r¢b?ies on those donaiions. Occasional fund rAising events are also held. Publlc benejlt Th¢ twenty seventh year of thc TBGS Charitablc Trst came to an end on 3 1st August 2025 and ihe accounts show the finan¢ial position ar ihat Ilai¢ and the results for the year ended on that date. During the year we have beeft able io provide the school with donation5 totslling £70.0(KJ from Unreslrlcd funds. The tnjst has continued ift it'$ objectives of providiftg finAn¢iol 8UPPOrt to the school and thereby to the Ial Community. The Inle¢S confirm that th¢y have compli¢d with th¢ TequiTemenl$ of section 17 of the Charitie5 Act 2011 to havc due re8aTd to the public benefjt guidAncc publtshed by the Charity Commission for England and Wale$. Trnsteei 8nd oflleerj The trtee3 and officer5 yerying during the Ye and since the yeor end were as follows: Tnte¢$- Mrs Christine Weston Mr Andrew Stephen Medhurst Mr8 Jacqueline Sar3 Gordon Mr8 Jill Stevens Mr Ian Douglas Fraser, ( Chair ) Mr Peter Clawon (appoinied 27 February 2025) Mr Jarne5 Raymond HwLt. ( He8dteh¢T I Mr Daniel W L Stevens (appointed l July 20251 Secretary.. Mr Andrew Stephen Medhur5t Page 3
TBGS Charltsble Trust Trustees, Report Structure* governaDC¢ gnd Flnanclwl Instruments ObjectIS amdpolleles The charitls Aciivitie5 expose it to a number of fiDanciai risks includiog ¢Tedii risL cosh flow risk Jnd liquidjty risk. Th¢ use of flnancial deTlVatives 15 governed by rhe charity's policie5 approved by the board of tnLStee5, which provide written principles on the of flnancial deriv&t]v io Mage these risks. The charity does not use derivative firjancial insirumeDts for speculative purpos¢5. C4shJ7ow rfsk Th¢ ¢barity'S activiiies expose it primarily to the change in interest rates. Interest bearing assets and liabilities are held in dep0511 interest eaming accounts to ensure certainry of Cash tlows. Credli rlsk The charity's prineipal fittanei&l assets are b8Dk balances and tayh, And investtnenls. The chority's credit nsk is primarily attributable to ils trade receivables. The amount5 presented in th¢ b8lane¢ sheet are net of allowanc¢5 for doubiful receivables. An allowance for impaim)enr is made wheTe there 15 an idenrified1085 eveni which, blsed on previous experience, is evidence of 8 reduction in the recoverabiliry of the cash flows. The credit rigk on liquid ndS &nd d¢riv&tivt financi81 in8tTuments is limited because the (ounterp4rties are nk8 with high eredil-ratin85 a85igtsed by internalional ¢redit-Tatins ne1C$. The charity has no silfIe8n( concentration of 6redit risk, with exposure spread ovrr a lar8e number of counterparties &nd custom¢rs. Liquidity risk In order 10 m8intAin liquidity Lo ensure that Su1¢1¢nI ndS arc available for ort8oinB op¢r&tions and fure developments, the charity uses a mixture of long-tenn and short-temi debt finance. Further details regarding liquidity risk can be found in the Statement of aountIng policies ln the fin&nlial statcmenls. Stmternent of trus1oes' responslbllltie8 The tTU¥tees (who are also tILe direelors of TBGS Charitable Trust for the purpoge$ of company law) &re resnSIble for preparing the tru51ees' r¢port and the financiAI 8ialemenlS in accordance with applicable law and United Kingdom Accounting Standard5 (United Kingdom Gcnerglly Aceepied Accounting Pracii¢¢l, including FRS 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" Company law requires the tn]8tees to Prepare fin&ncial statetnEnts foT cach financial year. Under comp8ny luw the tru8tee$ must not approve the fmanciBI statements unl¢$8 thcy are 8Otl8fied that they give a true #nd fair view of the slate of affairs of ihc chArit&bl¢ cotnpany and of the incorniD8 resou¢5 appli¢alion of resources, including its incoTne expendiNre, of the cb8Titable comp8ny for Ihut period. In prephring these fitWWi statements, the tNstee5 are required to.. select suitable 8ctounting poliEies and apply them consisiently.. obs¢rv¢ thc rnethS And prmciples in the Charitses SORP. make judg¢m¢nt$ a[ estimates that arc reasonable and pnLdent' stste whether appli¢able accounting stsDdatds', comprising FRS 102 have been followcd. subject to Y material departures disclosed and explainEd in thc fin8n¢ial stAtementS' 8nd P8ge 4
TBGS Charitable Trust Trustees, Report prepare the finan¢i&l 8t&tements on ihe going CDncern basis unless it Is inappropriate to preS1C that thc charitable comp&ny will continue in businE55. The tsustees are responsibl¢ for keeping pmper accounting record5 that can disclose with r¢a30nable accuracy at any time ihe fin&ntièl position of the cbaritabl¢ company and eThable them to ensure thai tbe fancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charilAble company and hence for taking reasonable steps for the prevention and detection of fraud and oiher iN¢8ularities. Thc twstees ar¢ responsible for the maintenance and intebrity of the corporate and finan¢ial iTLfomi&tion included on the chariiobl¢ cornp8ny'5 website. LcsislAtion governing the preparation and dissemiDation of financial 8taternents m&y differ from leEislAiion in other juristh'ctions. Dl$cloiMre of Inform•tlon to Indeptndent ExAmlner Each trust¢e has taken 5tep5 Ihttt they ou8ht io have takell as a tTUStce in order to make themselve5 aware of any relevant audit inf0mtIOn and to establish that thc charity's V4uditor is aware of thal infomi8tion. The trustees confi that th¢re 18 Do relevant inforn]aiion ihat they know of and of which they know the auditor is unaware. In1[ r ort was approved by the trustees of the charity on I l Mah 2026 and $ied on its behalf by.. Mr IAn Di)ugl&s Fraser TThsl¢e Page 5
TBGS Charitsble Trust Independent Examiner's Report to the trustees of TBGS Charitable Trust ('the Company,) I report to the charity tru%tees on my examination of ihc accounts of the CompaDy for the year ended 31 Augwt 2025. Reiponslbllltles and basis of r¢poYt As the charity's trustees of the Company 18nd a150 its directors for tbe purposes of company law) you are regponsible for the preparaiion of the COUnt5 in accordance with the requirements of tht Companies Aet 2006 I'ihe 2(J06 A¢t'l. Havin8 5alisfied rny5clf ihAt Ihe accounts of the Cornpbny are not r¢quired to b¢ audited under Part 16 of ihc 2006 Act &nd arc eligible for independent ¢xaminalion, I repoll in respe¢t of tny exarniriation of YOUT eharity, accounts os carried oiit under section 145 of the Ch3ritie5 Act 2011 ('the 2011 Act.). In cgrrying out my ¢xaminAtion I hglve followed the Directions giv¢n by the Charity Commission uod¢r ¥¢¢tion 145(5llb) of the 2011 Act. An independent examinalitsn does not involve gatherill8 All the evideThce that would be required in an audit and consequently does Liol cover all the matters that an auditor considers in giving Ih¢ir opinion on the accounls. The planning and conduct of an audit 8Oe8 beyond ihe limited assurance thai an indepeiidenl cxamination can provide. Conycquenily l expr¢88 no opir)ion as to whether the accounts present a 'tNe and fair, view and my r¢port is lirnited tu those 5pccific mBtters set out in the indepertdent cxAminer's statcrncnt. Independent exAmlner'$ 3t•tement I have completed my examination. l ¢onfirni that no matters haye come to my attention in connection with the examination giving me ¢au5e io believe.. l. Accounting records were not kept in r¢5pect of TBGS Charitsble Trust as Tcquired by gection 386 of thc 2006 Act.. or 2. the accounts do nol a¢¢ord with those records., or 3. th¢ accounts do noi comply with the accounting requiremeTht5 of be¢tion 396 of the 2006 Act other thAn &ny rcquirement that the accounts 8iV¢ 8 'tsue and fail view, which is not a matter ¢onsidered 98 part of An indcpendeoi examinaiion. or 4. the 4c¢ounis havc not been prepared in accordonce with the m¢thod8 and principles of ihe Sipdtemen¢ of Recommended Practi¢e for a¢countin¥ and reportin¥ by ch¥rilies lapplicable lo ¢hATilies preparing their accollnts in accordance with the Financial R¢porting Standard applicable in the UK and Republic of ITelard IFRS 10211. I have no Concerns and hav¢ come across DO other matters in Conn1)0 with the exumination io which attention should be drawn in chis report in Order to enable a proper undcr5t8nding of the aecounts to be reached. Mr N¢il Wi150n FCA Neil Wi150n & Co Charter&l AccountAnts I l Morch 2026 Page 6
TBGS Charitable Trust Statement of Flnancial Actlvities for the Year Ended 31 August 2025 (Tn¢ludlng Income and Expenditure Account and Statement of Total Recognised Galns nd Losses) Unrestrlcted funds Total 2025 Note Incorne Jlnd Endowments from: DonatioDs and legacie$ her trading activities Investment iJcom¢ 40.863 23,113 726 40,863 23.113 726 Totsl income 64.702 64,702 Expendlture on: Raising ndS Ch8Titable tIvitieS 11301 72,681) 72.681) Total expenditure 72,811 (72,8111 Net txpenditUTe 8.109 8.109 Net movem¢nt in funds (8,109) (8.1091 Reeonclllatlon ol fundg Total funds brought forward 70,165 70,165 Total fill carried forword 15 62,056 Unreslrleled 62,056 Total 21124 Not¢ ID¢ome and Endowments from: Donalions and Ic8&CLes Investment income 71,481 593 71,481 593 TotAI income 72,074 ExpeAdlture on: Raisin8 fuD Charitable activities (812) 61,150 61,150 Total expenditu 61,962 61962) Net income 10,112 10,112 Net movement in funds 10,112 10,112 Reconcllladon of funds Total fill)ds brought forward Total ndS carried forward 15 All of the charity's actLVlties d¢riv¢ from continuing op¢rations during the above ttvo periods. The thnds breakdown for 2024 is shown in note 15. The notes on pages 10 to 18 fonn an inte8rnl part of these fina1&1 st8ternents. Page 7
TBGS Charitable Trust (Registration number: 3112177) Balance Sheet as at 31 August 2025 2025 2024 Note Curr¢nt gssets Deblors C8sh at bank attd in hand 12 13 5,907 77,049 82,956 8,683 62,132 70,815 Credltors". Arnovnts f*llln8 du¢ wlthln one year 14 (20,900 62,056 (6501 Net 8i#ets 70,163 Funth of the thArlty: UreStrIcted Income fundi Unrestricted fijnds 62.056 70,165 Totsl fundg 15 62,056 70,165 For the financial yr ending 31 August 2025 th¢ charity was entitled to exemption from audit under s¢¢tion 477 of ihe Coinpanies Act 2006 relatlTh8 to srnAII companie5. Directors, responsibilities.. The rnembers hyve not required The ¢harity lo obiain an audit of ils aGCout$ for lh¢ year in quc8tion in accordance with section 476. and The directors 8¢knowledge Ih¢ir rcsponsibiliti¢b for complyi08 Wlth the requirem¢nt8 of the Act with respeet to a¢¢ouniing records and tbe preparation of Accounts. Icments on pages 7 to 18 w¢r¢ upproved by ihe tntstees, and authorised for i5su¢ on I l March on their beholf by: 20 d bignc Mr lan Douglas Fr8s¢r Truste¢ The note5 on pages 10 to 18 form an integral part of these fJnanciBI stateinents. Page 8
TBGS Cbarit2ble Trust Statement of Cash Flows for the Year Ended 31 Augusl 2025 2025 2024 Note C*sh flows from oper8dDg 8etivitle8 Net cash {eXpendIre)11[jrne AdJustlInI9 to eAih IIow5 from thon-tgsh Items tnve5trnent income (8.109) 17261 (593) 9,519 (8.8351 Worklng espltlll Adlu8trnents Decreasel(increa5e} in debtors In¢reuel(de¢rwe) in creditors Net cash flows from operating a¢¢iviti¢$ 12 14 2,776 20.250 (1,2201 16001 14.191 7,699 Cash Ilows from InveJtlnR 8cllvltl¢i Interest receivable and similar income 726 393 Net increase in cash and ¢ash equivalents Ca8h and cash equivalentg at I September Cash cash equivalents at 31 August 14,917 8,292 62.132 53,840 77,049 62.132 All of the cash flows are derived from contiftuins operations during th¢ above hvo periods. Th¢ notes on pages 10 to 18 fom) integral part of these finAncial statements. Page 9
TBGS Charitable Trust Notes to the Financial Statements for the Year Ended 31 Augll8t 2025 I Chfirity status The charity is limi*d by guarantee, incorporakd in En8larJd and WeS, consequently does not have share capita]. Euch of the tEWtees is liable to contribute an atnounl not ¢xcceding £1 towards the assets of the charity in the event of liquidatLOn. The address of its registered offiee is.. Torquay Boys Grammar School Shiphay Manor Driye Torquay Devon TQ2 7EL These f2nan¢i81 st&temenls were authori5¢d for issue èy the tntee5 on I l March 2026. 2 Accoundng pollelei Sumjnary of il¥nlfteant 8ctourttlng pollcles Ind key att0tIng e$drnatey The principal accounting policies applied in the preparation of these financial Statements are set out below. These polieics have been con8iStently appli¢d to all the Y1% PT¢seDled. unlS otherwise stated. ststement of eompilanee Th¢ financial ststem¢nts h8ve been prepared in accordance with Accountiug and R¢portin8 by Chariti¢s.' StaleTn¢nt of Recornmended Praetice (applicable io ¢hArities preparing their ACCOUllt5 in occordance wilh th¢ Financial Reporting St&ndard applicabl¢ ill The UK Mnd Republic of Irelgnd (FRS 10211 {i¥sued in October 2019) {Charitl¢s SORP (FRS 1021), th¢ FinAncial Reporting Standard applic&ble in The UK and Republic of Irel8nd IFRS 1021 and ihc Comparties Aci 2006. Bfi8lJ of prepxrAtlon TBGS Charitable Trust meets ihe definilion of a public benefit entity under FRS 102. A58ets and liabilities are iniiially recognised 81 historical cost or iransoction value unless otheTWi5e stated in the relevant accounting policy noies. Golnt con¢ern Th¢ trustees consider that tbere I¢ no rnatcrial unc¢rtainlics about the charity's ability to continue AS a going eoncern nor Any signific8ni greas of uncertainty that bffe¢t the carrying value of assets held by the ¢lMrity. Income and endowments All in¢ome is recognised once the ch&riry has entiilement to the inGome, it is probablB that the in¢ome will be received and the umounl of the incotne receiv&blc can be mca5ured reliably. DonotiO#S È7nd le¥u¢i¢$ Donations are recognised when the charity ha5 been notified in writing of both the amount and settlement date. In the event that a donalion is subject to conditions that require a level of perfonmance by the chariry before the ¢harily 15 entitled to the funds. the income is deferred and noi recogni5ed until either those conditions are fully met. or th¢ fuifilment of thos¢ tortditions i$ wholly within the ¢onirol of the charity and It is probable that thes¢ conditions will be fulfilled in the reporting period. P8g¢ 10
TBGS Charitable Trust Notes to the FlnaDcial Statements for the Year Ended 31 August 2025 Investmeni lTh¢ome Dividcnds are recognis¢d once the dividend has been decIed and notification has been received of the dividend Eypendltsre All expenditure 18 recogn18ed once there is a legal or con$tntive obligatiort io that exp¢nditUTe, il i$ probable seitletnent is required 3nd thc amount can be measured reliably. All costs are allocated 10 the applicable expenditure hcading thAt a8881C similar cost$ 10 Ihbi category. Where Costs cannot be directly 8ttribuled to particular hdingS Ihey have b¢en allocated on a bosis CODSjStent with ihe use of resources, with centr31 staff co$t5 allocated on the bagis of tirne spent. and depreciation charges allocated on th¢ portion of the assct's us¢. Other support ¢0Sts ar¢ allo¢at¢d based on thr SPTead of stsff costs. RoisiwgfuNds These are cosls incurred in attractio¥ voluntsry income, ¢h¢ M88cment of investments and those incurred in trading activitie$ Ih&¢ Tai$¢ fvTh(fy. Chorit4lJle a¢livili¢s Ch&Titabl¢ ¢xp¢nditure comprise9 those costs incurred by the eharity in Ihe delivery of its Activities and services for its beneficiaries. It includes both costs that ean be allocated dir¢¢tly io such oclivities and those costs of an indirect nature necessary to support them. Support CtI Support cost$ include ¢entrAI fimctions and bave been 8llocsted to activity Cost cotegorie$ OL a basis consiyknt with the use of resources, for example, allocating property ¢ost$ by floor area5, or per ¢apita, staff costs by rhe lime spent and other costs by th¢ir us88e. GoYernnce colts The$e include the Costs E4ttributabl¢ to ihe charity'5 compliance with conslitulional and statutory requiremenls, itLcludin8 audit, strategie tnana8¢ment tN9tee$ me¢tin¥s and reimbursed expenses. Taxltlon Thc charity 18 considered to pass the te5t3 S¢t out in Poragraph I Schedule 6 of the Finance Act 2010 8nd thercfore it mcety the dcfinition of a eharitablc cornpany for UK ¢ory)orntion tox purpose¥. Accordingly, the b8rity is po¢entially exempt frorn t8x&lion in r¢spKt of incorne or capital gains received wythin c&tegorie8 covered by Chapier 3 Part I l of Ibe Corporation Tax Act 2010 or Section 256 of the Taxatioll of chseable Goins Act 1992, to the extent that such income or 8&ins are applied ex¢lusively to ¢harithbL¢ pu0¥e¥. Trade debtors Trade debtors are amounts due from customern for rnerch&ndi5e sold or services perfornied in the ordin8ry course of business. Trade debtors are recognised initially at the tsansa¢tion price. Thcy are subsequently rneasured at aTllOrtised Cost using the effe¢tive int¢r¢$t method, les$ provision for imphirment. A provision for the Lrnpairnient of trt debiors is established when there is objec¢ive evidence thai th¢ cbarity will not be able to collect all amounts due accordiDg to the origsnal tertns of the receivables. Poge 11
TBGS Charltable Trust Notes to tbe Financial Statements for the Year Ended 31 August 2025 Cash 8Thd cash equlvAlents Cash atjd cash ¢quivalent5 ¢OmPTise cash on hand and call deposlts, and other short-terni highly liquid illvesimenrs th ar¢ readily convertible to a known amouni of cash and are subject to an insignificani risk of chankre in value. Borrowlngs Interest-be8ring boTTowings 8r¢ initially recorded at fair value, net of transaction costs. Inlerest-bearing bOowingS are subs¢qu¢ntly c8rried 8t arnortised co¥t. with the differeoce betweeo the proceedg. net of transaction costs, and rhe amount due on redemption bein8 reeogni5ed as a char8e io the Statefflent of Financial Activities over the period of ihe relevant bomwns. Inte8[ exp¢n$e is r¢¢ognised on the ba8is of the effective intere51 method and is includcd in interest pjyable and similor charges. Borrowings Are classified a8 Current liabi5itlC5 unless the L,harity hJ8 an unconditional right to d¢f¢r s¢ttkm¢nl of the liability for at least tsvelve months after the reporting dat¢. Forel¥n exchange TrAnsa¢tions in forei) Currencies are recorded al the rate of exchange ai the dale of the transaction. Monetsry as5els and liabilifies denominated in foreign ¢urrencies al the b&iallcr shcct dat¢ Ar¢ rcport¢d at ihc ratc5 of exchange pr¢vailing at that date. The r¢sult$ of over5e&s operation$ are translatcd at the average ral¢s of ex¢hpng¢ during the period and their balanc¢ sheets al the Tates ruling ai the bolanc¢ sheet dale. BxchanBe diffeiences arising 01) translatioo of th¢ opening net 835ets and result5 of overscas operations are reported in tsther ¢ompr¢h¢nsive income and accumulated in equity (Bttributed to non40ntTolling inlcre5ts a5 appropriate). Other exchan8e ditTerences are reco1$ed ill the Statem¢nt of Financial Activities in the period in which they arise exccpt for.. l) exchattge ditTeren¢es on iransacuons entered into to hedge certain forei cuttency risks (see above). 21 exehange diffeTenee5 arising on Bains or losses on non-mon¢tsry items which are Te¢ognised in other comprehcnsiv¢ income; and 3) in the cBse of the consolidated fin8ncial statemen, exchange differences on monetary itern$ receivable from or payable to a foreign operAiion for which 5eitlem¢nl is neither planned nor likely to occur Iiherefore fomiing part of the net investrncnt in the foreign op¢ration}. whi¢h ire recogThi5ed in other comprehensiv¢ incom¢ and reported under equity. Fund structure Unrestricted income fimds are general fuod% that are av8ilablE for use at the trustees discretion in fithrance ol the objeetives of (he Charity. Page 12
TBGS Charitable Trust Notes to the Finanelal Statements for the Ye4T Ended 31 August 2025 Flnanelal ltsstruments Debi lllstrumeMI Debt itistrnm¢nts which meet th£ following conditions ore subsequeDtly Measur At amortised cost Using the effective interest method.. la) The contractual return to the holder is {il a fjxed amow)i', lill a positive fixed rate or 8 p051tive variable rate; or liiil a eornbination of t4 Positive or 4 negative fixed rate and o po$itive vari&ble rate. b) The COntt may provide for repAyment5 of the principal or the return to th¢ holder (bul not both) to be linka to 4 single relevant obsetvable index of 8eneral PTice inflation of the currency in which thc debt instrument is denominated, provided 5u¢h links ar¢ not levera8ed. {c) The contract may provide for 74 detemsinable voriation of the ttturn to the holder during the life of the instrnmeni. provided that (i) th¢ n¢w r8te sati8fie8 condition lal aDd the variBtion is not conhngcnt on thture cvcnly other Ihbn (l) 8 ¢tLange of fd contraeDJa] variable rAte: (21 to protect the holder against credit deterioration of the tS5uer; (3) eh&nEes in levies &ppli¢d by a ¢entr81 bank or 8ri¥ins from Changes in Televgnt taxation or law; or lill the n¢w r4t¢ is a market rate of interest and 541isfies condilioll IA). Idl There is no contr&cNal provision that could, by its tenns, result in the holder losing the PTin¢11 amount or any interest attributable to the ¢UTrent period or prior periods. 1¢) Contraetual provi8ion8 pemiit lh¢ i$suer to prepay H dcbt irtStMent or pcrmit Iht holder to put it back to the i¥yuer before inaturity are Dol ¢Qnling¢nt on future cvcnl8, other than to protect the holder againsl the crcdit deierioration of the issuer or a ¢h8n8e in control of the issuer, or to Protect ihe holder or i58uer 4guin8L ch&nges in levies applied by a centrol bank or arising from changes iD relevAnt taKation or18w. 10 contractu PTovisions rnay pennit the exlensioD of the term of the debt in5tnull¢nt, provided th&1 the rettun lo Ihe holder and 8Thy Other contActual provisions applicable durin& the extended terni satisfy the conditions of p&rngrApbs la) to (¢1. Debt instruments that are clA85ified as payable or receivable within one year on initial recognition and which rneet the above condition$ Are measured It the undi$counied amount of th¢ ¢8sh or other consideration expecied to be paid or received. net of irnpairnienL With the exception of sorne hedging insiTuments, other debt inStnneThtS not mcttin8 these cortdiiions are measw¢d at fair value thmugh profit or loss. Commitments to rnoke Bnd reccivc IoaDS which mrKt the conditions mentioned above are measurcd at Cost Iwbich may be nil} less in)pairn]ent. Invesrments Investmenty in non-convertible preference $h2r¢s artd non.puttoble ordinary or prefer¢n¢¢ tihnres (where shares are publicly traded or tbcir fair value is reliobly measurabl¢) are measured at fair value through profit or lass. Where fair value CaDnot bt measured reliably. illvestments are me&surd at cost less impainnent. tnve5ttnents in subsidiaries and associates are measured at cost less impairment. For invesrrnenis in subsidiaries acquired for consideration Including the isslle of shares qualifying for rnerger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premiurn is lbore Page 13
TBGS Charitable Trnst Notes to the Financial Statements for the Year Ended 31 August 2025 Derivalivefill4HciAI instruments The charity uses derivative r]nalleial Instnllents to reducc exposure lo for¢ign eXChge risk and ilkterest rate rnovements. The charity does not hold or issue derivative f¢1&1 instruments for speculative purposes. DerivatiVC5 are initially recognised at fair value ai th¢ date a d¢riv)liv¢ ntract 13 ¢ntered into and 8Te subsequerttly Temeasured to their fair value ai each r¢portin8 dat¢. Th¢ T¢3ulring gain OT loss 1$ recognised in statement tsf financial aciivtiies immediately unles5 the derivaiive is designated and effwtive 05 8 hedging in5trurnenl, in which evenr the riming of th¢ recognitioi) In statement of financial activitie$ depends on th¢ nature of the hedge relationship. Foir value measur¢MeMt The besi evidence of fair value is a quoted price for an identiclll a55ei in an aetivt tnarkct. When quoted prices ore unavailable, the pri¢¢ ora re¢¢n¢ transaction for an identical asset provide5 evidence of fair value as long as there has not been a significant chHnge in economi¢ circumstance5 or a SIlficant lapse of lime sincc tht lr8nsaciion took place. If ihe rnarket l8 not aclivc and Tcccnl tran5actiotL$ of an identical as8et on their own are not a good estimate of fair value. th¢ fair value 15 egtimoted by using a va]uaiion techniquc. 3 1n¢ome from dollarfo and l¢w4EI UDreitrlcted fund$ Gener41 Total funds Donhiions and leg&cies; Gift aid reclaimed Re¥ulDT givin¥ and eapital donfjtions Tot81 for 2025 6,324 34,539 6.324 34,539 Total for 2024 71,481 71,481 4 Income fTQrn other tradlng Actlvltles UThrestricled runds Gener41 Total funds Event5 income. Oiher events income 23,113 23,113 Total for 2025 23,IlJ 23,113 5 IDVtstmellt Itscome Page 14
TBGS Charitable Trust Notes to the Financlal Ststements for the Year Ended 31 Augllst 2025 Unre5trietsd funds General Tt)til fvnds Int¢r¢st re¢eivable and sirnilw income; Interest receivable on bank dep)sAIS 726 726 Ttstttl for 2025 726 726 Total for 2024 593 593 6 Expendltsre on ralJlDg i) Costs of tr•dlng acdvltle8 Unreitrltttd fund5 GenerAI Tot•1 funds Note Other di1 costs of 4Ctivities for g¢n¢rating fui Total for 2025 130 130 130 130 Total for 2024 812 812 Tot81 e05tS 7 Expendlthrn charlt4ble aetlvltle8 Unrestrlcted funds Gener41 Total fund$ Note Education Allocoted suptxTrrt Costs GoveTnance costs 70.LN)O 1.729 952 70,O¢X) 1,729 952 Tfjtil for 2025 Tot41 for 2024 61,150 Totsl e¥bendlture In addition to the expendithtre &nalysed above. there are 81$0 governance costs of £952 (2024 - £650) which relate directly to charitable actsvities. See note 8 for further details. Pag¢ 15
TBGS Charitable Trust Notes to the Flnancial Statements for the Year EDdtd 31 August 2025 8 An8ly$ii of Kovernance Kupport eosts Govern•n¢¢ Unrestrlcted fvDds GenerAI Total nd8 Independent ¢x4min¢r fEe$ ExatninatioTh of tbe finhncial Stst¢Dnt$ Allocated wpport costs 900 52 52 Total for 2025 952 952 Totlll for 2024 650 050 Page 16
TBGS Charitable Trust Notes to the Flnanclal Statements for the Yr Ended 31 August 2025 9 Trustées remuneration and expenses No tnLqtees, nor any persons corccted with them, hBve re¢eiV any remuneration from the ¢h8rity during the year. No trustees have received atty Teirnbursed expenses or any benefits from the cbarity durin8 the year. 10 Independent ¢MIner,$ remuneratloD 21125 2024 Examinglion of the financial st&tsrnent5 900 650 I l TaxAtlon The charity is a Ttgistered chrity and is therefore exempt from tsxation. 12 Debtor8 2025 2024 Other debtors 5,907 8,683 13 Cash And ei8h equlvAl¢nts 2025 2024 CAsh at baDk 62,132 14 Credltors: amounts falllng due wkhln one year 2025 2024 Other ¢r¢di¢ors Accruals 20,000 900 650 650 IS Funds Ba]Attet *t I September 2024 Infomlng resollrees Rerte# expended B8lance at 31 August 2025 Unreytrlct•d funds Genernl 70.165 Pa8¢ 17
TBGS Chrdrltable Trust Notes to the FlnancfiAI Statements for the Year Ended 31 August 2025 B41ance 8t I September 2023 ID¢omlng resovrtt Resoyrees eIllded Balanee *t 31 2024 Unreitrlctsd fund8 Qeneral 60,053 70.165 16 AnAly$li of net usets between fnd0 Unreitrlct¢d funth Gener41 Tot41 at JI August 2025 Current ¥S5ets Curreni liabilhti&q 82,956 (20,900) 62.056 82,956 (20,900) 62,056 Toial net &8set8 Unres(rlcted funds G¢tttral Tot81 ilt 31 Augujt 2014 Current a58et8 Current liabiliti 70,815 650 70.815 650 Total net •$$¢ts 70,165 70.165 P8ge 18
TBGS CharitAble Trust Statement of Flnydncirdl AellvltAes by fund for the Year Ended 31 August 2025 Unrestrlcted Funds Totsl TotAI Unrestrieted Unrestrlcled Funds Funds 2025 2024 Income and Endov4ments from.. Don8tion$ and legacLe5 Other trading activities Inve$tm¢Nt incorne 40,863 23,113 726 71,481 593 Total income 64.702 72.074 EXpedIre on: Raising fullds Clwit•ble activities (130) (72,6811 (812) (61,L50) Total expenditure N¢t {¢xp¢nditure)lincome Ner movement in fimds (72,8111 (61,962) 10,112 (8,1091 10,112 Re¢ott¢lllatioD offuttd• Total fiJnd5 brought foTward Total fiwds carried forward 70,105 60.053 62,056 70,165 This page does not fomi part of the statutory financi81 gtstements. Pagc 19
TBGS CharitPdble Trust Detsiled Statejnent of Fiu4ncial A¢tlvltAes for the Year Ended 31 August 2025 Tot*1 21125 Total 2024 Income •nd EudoTvrneDts frort. Donations and legacies (analysed below) Oth¢r tradiog activitiu (analysed below) tnv¢5trnent iticotno (Ana]ysed below) 40.863 23,113 726 71,481 593 Totjl income 64,702 72,074 Expendlture on: Raisin8 fimd8 (ally81 below) Charitabl¢ 4¢1ivitie8 lanalyged below) (1301 (72.681} (812) (61,150} Total expenditur¢ 72,8111 (61,962) Net (¢xpeDditureyincome Net movomeni in fimds 8,109 10.112 (8,109) 10.112 Kecon¢lUatloth of fund Total fiJDds brou8bt foTWatd Totsl fimd8 carried forward 70,165 62.056 60,053 Thi5 pag¢ does not foTm part of the statutory financial statements. Pagc 20
TBGS Charitable Tn]$t Detailed Statement of Financial ActiJThties for the Yeydr Ended 31 August 2025 Total 2025 TotAI 2024 Donadons omd leg4eies Parental and other donations Gtft Aid lax T¢¢laim¢d 34,539 6,324 61,449 10,032 40,863 71,481 Orher aclivliles Mistletoc Bau 23,113 23,113 Investm¢n¢ income illieresi receivable 726 593 726 593 Ralslngfunds School lies and badges Bank char8es (630) (1821 130) 812) {1301 Charithble a¢tivltles Donation8 10 TBGS Charit&bl¢ donations Ind¢pendent examinetrs fee Legal ond profe58ional feey 170.000} (1.7291 (900) 1521 160.500) 16501 Thi5 page does not form part of the statutory financial stal¢ments. Page21