REGISTERED CHARITY NO. 294156
THE TREVOR OS80RNE CHARITABLE TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022

THE TREVOR OSBORNE CHARITABLE TRUST
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2022
CONTENTS
Po90
Tru$te8s' Rep)rt
Statement of Financial AGlivilies
Balance Sheet
Notes to the Financial Slalements
Independgnl Examiners Report
10

THE TREVOR OSBORNE CHARITABLE TRUST
REPORT TO THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2022
Tmstgas
Trevor Osbome
Derek Parkas
Sarah Osbome
Daniel Allen
Prln¢ipal Addre
Rectory Lodge
Combe Hay
BATH
BA2 7EG
R8gistrallon Dgtalls
Registered Chaisiy No. 294156
The Trustees present their annual raport and Ihfj unaudited financial statements for the year ended S
April 2022. The Trustees have adopted the provisions of the Statemonl of Recommended Practi¢è
(SORP)"Accounts'ng and Reporung by Charities. IFRS102) in weparing the annual report a￿1 financial
statements of the Trust.
The financial statements have been prepared in accordance with the accounting Fdici8$ set out in note
110 the accounts and comply with the charil¥s trust deed, the Charities Act 2011 and Accounting and
Reporting by Charities: Statement of Recommended Practice applicable lo charities preparing their
accounts in accoréance with the Financial R8POrting SIAndard applicable in the UK and Republic of
Ireland published on 16 July 2014.
Stru¢tur•, Governance and Management
The Charitabl8 Trust Is govemed by a Declaration of Trust dated 7 April 1986.
The power of appointing new or additional Trustees 18 vested Sn Trevor Osborne dwng his lifg, and
there8ftar by reSdutic￿ of the Tru3le8$.
Obj•ctive$ and A¢tlvltles for the publle ￿neflt
The object of th& Charitable Trust is to pay or apply the income and. in some circUms￿Ces, Ihg Gapltsl
of the Trust to registered ch8rities orfor exclusively charitable purposes aCCc￿1n9 to the lawof England
and Wales. al the dps¢retion of the Twstees.
Donaltons receivad by the Charftsble Trust are ull￿Sed to achleve th& above oblectives.
The Trustowns the Old Lrfeboat House in Porthloven and contlnu88 to let this as Th8 LrfeboatArt Studio
which is made available to artists and students from universities, local and national commurbity groups
and others as an arts resource to teach, Jeam, painl and c￿ale other art and exhitrmt. The
accommodatron is made available for these purposes and whilst scfne groups arfr allowed the space
free of charge some charge$ are 8ppIEd lo individuals in order to recover the running ￿sts of the
property. The intention 1$ lo encourage arts and Cultu￿ for all age groups and through this the
Porthl8ven communty.
The acliwties were impacted by COVID restrictions and the Trust was able lo daim COVID gMts from
the local council, there were no ￿strICtl0nS on the use of these grants.
The Trust owns Hardwick Ho11 in Buxton which has Changed its name lo Hardwlck Studio to refiect the
fact that the building is used by Bridgehead Arts Ltd as the Green Man Ga1lerywh￿h provide8 exhibition
Space and rooms used for Brtl8tic engagement and creativity.
The Trustees confirm that they have r8farr8d to the Charlly Commlssion's general guklance on publ¢
benefil when reviewng the Charitable Trust's aims and objectives, In pL2nning future athities and
$9ttSng the grant making policy for the year.

THE TREVOR OSBORNE CHARITABLE TRUST
REPORT TO THE BOARD OF TRUSTEES (CONTD
FOR THE YEAR ENDED 5APRIL 2022
Achlov•ments and Perfomwnce
Details of expenses paid for charitsble events and charitable dtMalions made to further the Charitable
Trust's purpose5 for the public benefit are given in notes 3 and 4 to the financlal slalements.
Finan¢lal Revimy
The Trustees aim lo maintain positive reserves in unrestrocled funds by managing the level of donations
and grants awarded to ensure that resources expended do not exceed incoming resources, all surplus
funds being applied in furtherance of the Charitable Twsl's oblectiV8S.
Approved by the Trustees on ...... ,...
nd signod ￿ their behalf by
Trevor Osborne

THE TREVOR OSBORNE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTNITES
FOR THE YEAR ENDED 5APRIL 2022
Not•
2022
2021
INCOME
Donations 8nd Le
cies
Donations receivable- cash
Donations receivable- prop8ty
Glft aid receivable
45,750
18,300
380,000
Charitable Actrvities
Operation of The Lifeboat Art Studio
Operation of Nel Loft
4,650
1,490
5.380
Other
Interest received on Glft Aid
Local council COVID grant income
132
19.431
2.667
Total Income
53,067
424.733
EXPENDITURE
Charitable Aclivilies..
Expenses pald in support of charitabJ8
fundralsing events
Donations and grants
Operation of The Lrfeboal Art Sludlo
Operation of N81 Loft
21.132
47.672
6.853
6,863
27,777
2.160
4.657
Governance costs
Accountancy
Sundry
2.412
2,160
T¢)tal expondlture
{79.573)
143,712}
Net Inc¢)m•l(•xpondlturn)
126,5061
381,021
Gains ar)d losses on revaluation of fixed assets for the
Charity$ own use
270.000
Fund balances brought forward
418,785
37.764
Fund balanc•s carrled forward
662,279
418.785

THE TREVOR OSBORNE CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2022
Note
2022
2021
Fixod a$sots
Investment prwrty
650,CQO
380.000
Currgnt as56ts
Debtors
Cash at bank
24,056
3,551
14,084
34,538
27,607
48.622
Credttors
Amounts falling due within one year
115,3281
(9,837}
Net current assèt#llll4bllities}
12,279
38,785
Net a$s•tsllliabililies}
662,279
418,785
Funds
Unrestricted funds
10
392,279
418,785
Revaluation reserve
270,000
662.279
418.785
The notes at pages 5 to 9 form part of th6se accounts.
Approved by the Trustees on I l and signed on their behalf by:
Trevor Osbom

THE TrEVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
Countlng pollclos
Basls of preparation and assessment of gong concein
The financial slalemenls have been prepared under the hlstorlcal cost convention items
recognised at cost or transaction value unless otherwise slated in the relevant notes to these
accounts. The financial ststements have been prepared in accordance with Statement of
Recommènded Pracllca.. A¢countSng and Reporbng by Charities preparing their a0￿Unts In
accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland
IFRS 1021 i￿u9d on 16 July 2014 and the Charftles A¢1 2011.
The ch￿rtY constitutes a public benefit entity as d8fined by FRS 102.
The Irustees ¢onsider tt)at there are no material uncertainties about the Trust's ability to conllNe
8$ 8 going concern.
The signfflcant acwunting policies applred In the prepar9￿n of thgse finanaal slalements are set
out below. These pollcies have been consistendy applled to all years pro$enle(I v8ths unl8SS
otherwise stated.
The financial statements are prepared in sterling. which is the functional currency of the Trnst.
Mc￿etary amounts in these financial statements are rounded lo the nearest £.
Fund a¢countlng poll¢y
Unreslrictsd Income funds are general funds that are available for use al the trustee$, disctetion in
furtherance ol the obje¢lives of the chartty. The trustee5 aim lo maintain positiv8 reserve5 in
nreslricted funds by managing the level ofdonalions and grants awarded to ensure that resources
exp8nded do not exceed Sncoming rosources. Detsils of Ihe fund is disclosed in nole 10.
In¢oming TeCO9nlllon
AJI income is recognised once the char((y has entitlement to the incom8, it is Probab￿ that th8
Income ￿11 be received, and the amount ol the income can be measured reliably.
All donations are recognised when the charity has been notified in writlng of both the amount and
the settlement dale. In the evenl that a donation 1$ subject lo conditions thal require a lovel of
performance before the charity is entitled to funds, the income is deferred and not recognised until
either those condilions ar8 m?1, or the fuifilmonl of I￿se wndilions is wholly wlhin the control of
the ch8rily.
Incoming resour¢4s from tax wlalms are reccgnisod al the samg time as the donallon lo whlch11
reL8tes.
Income from the operation of the Lrfeboat Art Sludlo Is mcognised in the period to whth it relates.
Governmonl COVID grant income has been C￿lmed in the year and rgcorded ￿￿n the gyanl has
b88n received.
Expendlturè racognltlon
Liabilities are recognised as expenditure as soon a5 there Is a legal or conslrnctive oblig8tk)n
comrnitting the charity ID that expenditure. it is probabl¢ that the 5ettbmenl will be required, and
the amount of the obligatK)n can be measured reliably.
1 èxpenditure is accounted for on an accruals b8sis inclusive of Irrecoverable VAT. AI
expendffture Including govemance costs are alkxaled to thè applicable expenditure he8dings.
DonatK￿S payable are payments made lo third parties In the furtheranoe of the charitable objects
of the Trust. In the case of an unconditional donation this is accrued once the recipiont has been
notified of the grant awafd. The notification Lives the reci)ienl a reasonable expeclalion that they

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2022
will roceivg the donallon. Donations awarded that are subject to the recipientfvlfilling performance
conditions are only accrued when the reoiplenl has been notlfied of the donation and any remaining
unfuwilled conditions have b88n mel.
Governancè co$t$
Governance costs comprise all costs invofving the publr¢ accountability of the charity and Its
compliance %wth rggulation and go¢)d practice.
Investment property
Investment property is Initially measured at transaction price, and15 subsequently measured atfalr
value al each reporting dale. Changes in fair value are recognised in net incomellexpendiluTel for
the year.
Debtor8 and ￿ed5¢Or$ rec•ivabl•lp•yabl• wl¢hln on• yoar
Debtors and creditors recelvable or payable wthin year arè recorded at transaction t￿Ce.
Subsequently. they are meaSu￿d at the cash or other considerab'on expected lo be recelved or
TTust8es' romuneratlon •nd expenses
No Trust80 or connected person thereof has re￿Ved any remun8ration th8 y8ar.
Expenses pald In support of ¢harit*bh fundraising ¢vMts
2022
Expenses incurred in relation to th6 Porthelven Arts Festival
Buxlon Spa Art Prize & overheads
16.132
5,000
21,132

THE TREVOR OSBORNE CHARITABLE TRU8T
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2022
4. Donations and grants
2022
Name of Instltutlon
SalVa￿n Army
Bath Spa Universlly
Combe Hay Church
Winston Wish
Dive Project Cornw811 CIC
Par8gon Singers
Holbume Museum
Vl¢loria Art Gallery
Bath Fests'vals
Forest of Imagination
Bath Moz8rtfest
Bilelugs Lut- Sponsorship Special Music Scholarship at Wells Calhgclral School
Peak District Artisan Priz
High P8ak Theatre Trust
Porthjèven Arts Community Intsresl Company- J Tlnley Book ProJect Fund
Friends of Buxton - Intemalional Festlval
Cystic Fybrosis
Bachfest
The Ch?ttsred Surveyors Charitable Trust
100
10.000
2,600
100
2.000
3.000
20
s,￿0
750
5,000
6.535
150
1,000
1,017
1.650
5.000
50
Namg of Individual
A HemplemaTrAdam8
1fJo
47.672
S. Owration of the Llf•boal Art Studlo
2022
2021
Rent, rates and insurance of sludlo
He81 and light of studio
Cleaning, repairs and mainl$n8ncg
Websrte hosting
Advertlsing
Telephone
Administration Fee
1,162
778
1.427
103
137
546
2,700
466
498
10
60
106
420
600
6,853
2.160

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2022
6. Operatlon of Nol Loft
2022
2021
Rent. rates and insurance of studlo
Heat and light
Repairs and maintenance
4,293
364
4,657
7. Inv8stmont Property
2022
Fair Valu•
At 6 April 2021
Addltions
Revalualions
380.000
270,000
At 5 Aprll 2022
650.000
The fair value of the investment properti&s has been determined by Mr T Osborne RICS. who 1$
also a Trustee. al 5 April 2022 on an open mavk8t basis with consideration for the nature and
condition of the properties.
Debtorn
2022
2021
Due within one year..
Th& Lrfeboat Art Studio rent
Prepayments
Mr T Osborne
Trevor Osbome Ltmited
Original Theatre Co
1,830
6.573
203
450
S,(￿0
1.150
1.727
150
1,057
after one year..
Bath Festivals
10,000
10.000
24,056
14,084
9. Creditors- amounts falling du• wtthln one ￿ar
2022
2021
Accruais
15,328
9,837
15,328
9.837

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2022
10. Unrestri¢ted funds
The fund baL9nc8 ts as a result of aclNities in furtherance of Ihe Charitable TNst's objectives. The fund
is held to enable the trust lo further its objectives.
Balance
N•1 Incoming
resources
for year
Balancg
at
0&04.2022
06.04.2021
Unrestri¢led fund
418,785
(26,5061
392,279
11. R•l•tgd party tran$actlon$
Duiing the year there were the folljwng transactions Mth related parties-
Incomel(expen$•)
2022
2021
Trgvor Osbome Limlted
Donallons re￿iVed 45.000
Debtor
450
298.300
1,057
Mr T O$bome
Donations receiv6d
D8btor
203
150
Porthleven Harbour & Dock Company
Rent paid
Donations recelved
(200)
100,000
Bath Mozartfest
Donations paid
{5,(￿>
{5.000>
Saracen Housg Estate$ Limited
Rent paid
Donations received
3.484)
750
Poth18ven Hollday Cottages Llmited
Administration fee
12,7001
(6001
Porthleven Art Community
Interest Company
Donatlon paid
Charitable expenses
(1,017}
15,0001
(3,863)
Trevor Osbome is also a Trustee of thè 8ath Mozartfest. Donations made were towards the Bath
Moz8rtfesl Bachfest Fund.
Trevor Osbome Lknrted. Porthloven Harbour & Dock Company, Saracen Hou$& Eslat8s Llmitsd and
Porthlgvgn Holiday C¢)ttages are companles under the control of Trevor Osbom8.
Trevor Osborne is B director of Portleven Art Community Intèrest Company which has been eslabh.shed
to encourage participation and 8ppreciatK)n of art in Porthleven.

io
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE TREVOR OSBORNE CHARITABLE TRUST
FOR THE YEAR ENDED S APRIL 2022
I report lo the tmstees on my oxamination of the a￿Ount5 of the Tmor Osboume Charitable Trust for
the ￿ar ended 5 April 2022 which are sel out ￿ pages 3 10 9.
Rosponslbllltlo$ and basls of r•port
As the ¢harily trusl88s you are responsfole for the preparation of the accounts in accordance with the
requirements of the Charities Acl 2011.
I report in respect of my examination of the Trust's accounts carried out under sectKJn 145 of the 2011
Act and in Carrying out my examination I have followed all the applicabl8 directions givgn bythe Charity
Commisslon undoi section 1451511b} of th& Act.
Indepgftdent examlnefs Statement
I have completed my examination. I confirm that no material malters have come to my attention in
connection with the exafflinatKJn giving me cause to beliève that in any material rospect:
accountlng records were not kfrpl In respect of the Trust required by seGtion 130 of th8
Act., or
2. tha accounts do not a￿ord wlth those records.. or
3. the accounts do not comply with the appllcable requirements concerning the fom and
Content of accounts set out in the Charities {A￿Ounts and Reports) Regulations 2008 other
than any requirements that the accounts giva a Irue and fair. ￿eW whlch is not a matter
considered os part of an independent examination
I have no con¢ems and have com9 acros8 no other matters In ¢onne¢lion wlh the examlnation to whlch
attention should be drawn in thls report In ¢xderto enable a proper understanding of the accounts lo b
act￿d.
K L Smith 8A FCCA
Howard Tax Accountants Limited
Riverside Chambèrs
Full Stre8t
DERBY
DE13AF
Dèted 11 No¥ÈmbÈr 2022