Company registration number.. 3 112177
Charity registration number: 1061460
TBGS Charitable Trust
(A cornpany limited by gpJarAnteel
Ar￿Ual Report And Financial St&tements
for rh¢ Year Endcd 3 1 Auw512025

TBGS Charltable Trust
Contsnts
Reference and AdminislrAtive Detai15
Strategic Repon
T￿￿teeS, 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
Re￿ltered 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
T￿￿1¢¢
P8ge 2

TBGS Charitable Trust
Trustee8' Report
Th¢ tru8tee$, WIK) are directorB for the pwp05e$ of company law. p￿s¢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$r raises fijnds by regular donations from the parents of pupi15 at the school. Tnainly under th¢ 8ift aid
scheme, which en4ble5 the tN8t to obtain tJx r¢b?ies on those donaiions. Occasional fund rAising events are also
held.
Publlc benejlt
Th¢ twenty seventh year of thc TBGS Charitablc Tr￿st came to an end on 3 1st August 2025 and ihe accounts
show the finan¢ial position ar ihat Ilai¢ and the results for the year ended on that date.
During the year we have beeft able io provide the school with donation5 totslling £70.0(KJ from Unreslrlc￿d
funds.
The tnjst has continued ift it'$ objectives of providiftg finAn¢iol 8UPPOrt to the school and thereby to the I￿al
Community.
The In￿le¢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$.
Trnsteei 8nd oflleerj
The tr￿￿tee3 and officer5 yerying during the Ye￿ and since the yeor end were as follows:
Tn￿te¢$-
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. ( He8dte￿h¢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
ObjectI￿S 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 M￿age 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$.
The charity has no si￿lfIe8n( concentration of 6redit risk, with exposure spread ovrr a lar8e number of
counterparties &nd custom¢rs.
Liquidity risk
In order 10 m8intAin liquidity Lo ensure that Su￿1¢1¢nI ￿ndS arc available for ort8oinB op¢r&tions and fu￿re
developments, the charity uses a mixture of long-tenn and short-temi debt finance.
Further details regarding liquidity risk can be found in the Statement of a￿ountIng policies ln the fin&nlial
statcmenls.
Stmternent of trus1oes' responslbllltie8
The tTU¥tees (who are also tILe direelors of TBGS Charitable Trust for the purpoge$ of company law) &re
res￿nSIble 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¢$8 thcy are 8Otl8fied that they give a true #nd fair view
of the slate of affairs of ihc chArit&bl¢ cotnpany and of the incorniD8 resou￿¢5 appli¢alion of resources,
including its incoTne expendiNre, of the cb8Titable comp8ny for Ihut period. In prephring these fitWWi
statements, the tNstee5 are required to..
select suitable 8ctounting poliEies and apply them consisiently..
obs¢rv¢ thc rneth￿S And prmciples in the Charitses SORP.
make judg¢m¢nt$ 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 preS1￿C 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 f￿ancial 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 inf0m￿tIOn 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 Ma￿h 2026 and $i￿ed 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 Conn￿1)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 fina￿1&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:
U￿reStrIcted Income fundi
Unrestricted fijnds
62.056
70,165
Totsl fundg
15
62,056
70,165
For the financial y￿r 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 aGCou￿t$ 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 {eXpendI￿re)11[￿jrne
AdJustlI￿nI9 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 W￿eS, 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 tn￿tee5 on I l March 2026.
2 Accoundng pollelei
Sumjnary of il¥nlfteant 8ctourttlng pollcles Ind key att0￿￿tIng e$drnatey
The principal accounting policies applied in the preparation of these financial Statements are set out below.
These polieics have been con8iStently appli¢d to all the Y￿1% PT¢seDled. unl￿S otherwise stated.
ststement of eompilanee
Th¢ financial ststem¢nts h8ve been prepared in accordance with Accountiug and R¢portin8 by Chariti¢s.'
StaleTn¢nt of Recornmended Praetice (applicable io ¢hArities preparing their ACCOUllt5 in occordance wilh th¢
Financial Reporting St&ndard applicabl¢ ill The UK Mnd Republic of Irelgnd (FRS 10211 {i¥sued in October 2019)
{Charitl¢s SORP (FRS 1021), th¢ FinAncial Reporting Standard applic&ble in The UK and Republic of Irel8nd
IFRS 1021 and ihc Comparties Aci 2006.
Bfi8lJ of prepxrAtlon
TBGS Charitable Trust meets ihe definilion of a public benefit entity under FRS 102. A58ets and liabilities are
iniiially recognised 81 historical cost or iransoction value unless otheTWi5e stated in the relevant accounting
policy noies.
Golnt con¢ern
Th¢ trustees consider that tbere I￿¢ no rnatcrial unc¢rtainlics about the charity's ability to continue AS a going
eoncern nor Any signific8ni greas of uncertainty that bffe¢t the carrying value of assets held by the ¢lMrity.
Income and endowments
All in¢ome is recognised once the ch&riry has entiilement to the inGome, it is probablB that the in¢ome will be
received and the umounl of the incotne receiv&blc can be mca5ured reliably.
DonotiO#S È7nd le¥u¢i¢$
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 decI￿ed and notification has been received of the dividend
Eypendltsre
All expenditure 18 recogn18ed once there is a legal or con$tn￿tive obligatiort io that exp¢nditUTe, il i$ probable
seitletnent is required 3nd thc amount can be measured reliably. All costs are allocated 10 the applicable
expenditure hcading thAt a8￿881C similar cost$ 10 Ihbi category. Where Costs cannot be directly 8ttribuled to
particular h￿dingS Ihey have b¢en allocated on a bosis CODSjStent with ihe use of resources, with centr31 staff
co$t5 allocated on the bagis of tirne spent. and depreciation charges allocated on th¢ portion of the assct's us¢.
Other support ¢0Sts ar¢ allo¢at¢d based on thr SPTead of stsff costs.
RoisiwgfuNds
These are cosls incurred in attractio¥ voluntsry income, ¢h¢ M￿88cment of investments and those incurred in
trading activitie$ Ih&¢ Tai$¢ fvTh(fy.
Chorit4lJle a¢livili¢s
Ch&Titabl¢ ¢xp¢nditure comprise9 those costs incurred by the eharity in Ihe delivery of its Activities and services
for its beneficiaries. It includes both costs that ean be allocated dir¢¢tly io such oclivities and those costs of an
indirect nature necessary to support them.
Support C￿tI
Support cost$ 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.
GoYern*nce 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 ch￿seable
Goins Act 1992, to the extent that such income or 8&ins are applied ex¢lusively to ¢harithbL¢ pu￿0¥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 tr*￿t
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
bO￿owingS 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.
Inte￿8[ 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 reco￿1$ed ill the Statem¢nt of Financial Activities in the period in which they
arise exccpt for..
l) exchattge ditTeren¢es on iransacuons entered into to hedge certain forei￿ cuttency risks (see above).
21 exehange diffeTenee5 arising on Bains or losses on non-mon¢tsry items which are Te¢ognised in other
comprehcnsiv¢ income; and
3) in the cBse of the consolidated fin8ncial statemen￿, exchange differences on monetary itern$ 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$itive vari&ble rate.
b) The COnt￿t may provide for repAyment5 of the principal or the return to th¢ holder (bul not both) to be
linka to 4 single relevant obsetvable index of 8eneral PTice inflation of the currency in which thc debt
instrument is denominated, provided 5u¢h links ar¢ not levera8ed.
{c) The contract may provide for 74 detemsinable voriation of the ttturn to the holder during the life of the
instrnmeni. provided that (i) th¢ n¢w r8te sati8fie8 condition lal aDd the variBtion is not conhngcnt on thture
cvcnly other Ihbn (l) 8 ¢tLange of fd contraeDJa] variable rAte: (21 to protect the holder against credit deterioration
of the tS5uer; (3) eh&nEes in levies &ppli¢d by a ¢entr81 bank or 8ri¥ins from Changes in Televgnt taxation or law;
or lill the n¢w r4t¢ is a market rate of interest and 541isfies condilioll IA).
Idl There is no contr&cNal provision that could, by its tenns, result in the holder losing the PTin¢1￿1 amount or
any interest attributable to the ¢UTrent period or prior periods.
1¢) Contraetual provi8ion8 pemiit lh¢ i$suer to prepay H dcbt irtSt￿Ment 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 inStn￿neThtS 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
l￿bore
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 Instn￿llents to reducc exposure lo for¢ign eXCh￿ge 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 SI￿lficant 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 di￿1 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¢D￿nt$
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 Y￿r Ended 31 August 2025
9 Trustées remuneration and expenses
No tnLqtees, nor any persons cor￿ccted 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
Re￿￿rte#
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
eI￿llded
Balanee *t 31
2024
Unreitrlctsd fund8
Qeneral
60,053
70.165
16 AnAly$li of net usets between f￿nd0
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
EXpe￿dI￿re 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 (all￿y8￿1 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