REGISTERED CHARITY NO. 294156
THE TREVOR OSBORNE CHARITABLE TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2023

THE TREVOR OSBORNE CHARITABLE TRUST
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2023
CONTENTS
Pago
Trustees. Re￿rt
Statement of Flnanclal Advllies
Balance Sheet
Notes lo the Financial Statements
Indep8ndent Examiners Report
10

THE TREVOR OSBORNE CHARJTA8LE TRUST
REPORT TO THE BOARD OF TRUSTEES
FOR THE YEAR ENDED S APRIL 2023
Tru8teg8
Trevor Osborne
Dergk Parkes
Sarah Osborne
Daniel Al￿n
PrlnGlp•l Addro8S
Rectory Lodge
Combe Hay
BATH
BA2 7EG
Règlstratlon Detalls
Registered Charity No. 294156
The Trustees present their annual report and the financial statements for the year ended 5 April 2023.
Stwcture. Gov•man¢o and MaMg•m•nt
The Charitable Trust 65 govemed by a Declaration of Tnjsl datsd 7 Aprll 1986.
The power of appointing new or additional Trustees is vested in T￿VOr Osbome during hls 16fe. and
thereafter by re501ulion of the Twstè8s.
Oblectlv8s and Actlvltl•8 for the publlc bgngfit
The oblecl of the Charitable TrL￿1 15 to pay or apply the income and. In som8 drcumstances. the capitsl
of the Twsl lo registered charilles orfor exclusively Charitable purposes according to the law of England
and Wales, al the disGrelton of the Tru8tee8.
Donallons received by the Charitable Trust are utllised to achieve the atove objectives.
The Trusl owns the Old Lrfeboat House In Porthl8ven and continues to let this as The Lrfebo8tArt Studlo
which is made available to artists and students from univBrsilles. local and natlonal commLÉnity groups
and others as an arts resource to teach. learn, painl and create other art and #xhlbit. The
a￿0mModatIO)n Is made available for these purposes and whilst some groups are allowed the space
free of charge some charges are applied lo individu818 in order to recover the running c0515 of the
property. The intention is to encourage arts and culture for 011 age groups and through this the
Porthleven communty.
Thg Trust owns Hardwck Hall in Buxton which has changed its name lo Hardwick Sludio to reflect the
fact that the building is used by Bridgehead Arts Ltd a5 the Green Man Gallerywhich provides exhibition
spa￿ and rooms used for artisllc engagement and CTealivty-
The Trustees conflm) that th&y have referred to the Charfty Commission's general guidance on public
ben&fil when reviewing the Charitablè Trust's aims and objectives, in planning future acUvW88 and
setting the grant making policy for the year.
Achbevement8 and Perforniance
D¢lails of expenses pald for ¢har¢table ev8nts and charitable donations made to further the Charttable
Trust's purposes for the public benefrt are given in notes 3 and 4 to the f￿anCIal ststements.

THE TREVOR OSBORNE CHARITABLE TRUST
REPORT TO THE BOARD OF TRUSTEES {coKr'D)
FOR THE YEAR ENDED 5APRIL 2023
Fln•n¢lal Revlew
The Trustees aim to maintain positlve reserves In unrestrithd funds by managing the level of dOna￿on$
and grants awarded lo ensure that resources ex￿nded do not exceed incoming resources. all surplus
lunds belno applied in fvrtherance of the Charitable TNst's objectives.
Approved by the Trustees on ......
Z•Z>..and signed on their behalf by
Trev
bome

THE TREVOR OSBORNE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTivfTES
FOR THE YEAR ENDED 5APRIL 2023
Note
2023
2022
INCOME
Donations and Le
cies
Donations receivable
Gift aid receivab
55.500
45,750
Charitable Activilies
0￿ratiOn of The Lif8boat Art Studio
9,275
4.650
Other
Local councll COVID grant Income
2.667
Total Income
64.775
53.067
EXPEND￿uRE
Charitable Aclivilies..
Expenses paid in support of charitable
ftJndrai$ing events
Donations and grants
Op8r81ion of Thè Lifeboat Arl Sludio
Operalk)n of Hardwick Hall- Insurance
9,536
55,328
11,032
1,190
21,132
47.672
6.853
Govemanc8 ¢0sts
Accountancy
Sundry
2.556
175
2.472
1.504
Total •xp•ndlture
{79,8171
179.S731
Nèt Intomd(èxpondlture)
(15.0421
126,506)
Gains and losses on revaluation of fixed assets for the
Charit¥s own use
270,000
Fund balanc¢s brought forward
662,279
418,785
Fund b•l•ne•$ ¢arri•d fonvard
647.237
662.279

THE TREVOR OSBORNE CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2023
Nole
2023
2022
Flxed assets
Inve$bnenl prcyerty
650,000
650,(
Curront a$89ts
Debtors
Cash at bank
19.859
24,056
3.551
19,859
27,607
Gr￿lIorS
ATnounls falling due within (Th year
{22,622)
115,3281
Net current a8setsllllabllltles)
{2,763)
12,279
Not a81•ts1(liabilitio8)
647.237
662,279
Funds
Unrestricted funds
377.237
392,279
Revaluation reserv6
270,000
270,000
647,237
662,279
The noles al pages 5 to 9 form part of th&se accounts.
Approved by the Trustees on
and stgned on thelr behalf by..
Trevor Osborne

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2023
Accountlng poll¢k$
Genornl Inforni•tlon
The Trevor Osbome Charltable Trust is an unincorp)rated charfty, roglslered in Ihe Ur)iled
'ngdom urKler the Charities Act 2011.
The financial statements are prepared in sterling, whlch is the funth'onal Currency of the Trust.
Monetary amoun15 in these financial statements 8r8 rounded to the nearest £.
Basls of prnparatlon and assessmènt of gong concem
The fmanclal statements have been prepared in accordance with Accounting and Reporting by
Charitles.. Ststement of Recommended Pradice appltcable to charities preparing their a¢￿UnIS in
accofdance wrth the Financial Reporbng Standard applicable In Ihe UK and Republic of Ireland
IFRS 1021 (effective 1 January 2019)- ICharltie$ SORP IFRS 102} thctive 1 January 2019) and
the Charities Act 2011.
The financlal statements have been prepared to gNe us a true arvj fair view and have departed
from the Chariti8s {A¢counts and Report51 Regulations 2008 only to the extent required lo provide
true and fair view. This departure ha5 involved following Accounting and Reporting by Charities
preparing their 8ccounts in accordance with the Financlal Reporting Standard applicable in the UK
and Republic of Ir8land IFRS 1021 issued on 16 July 2014 rather than the Accounting and
Reporting by Chaiili¢s'. Stst&m8nt of Recommended Practice effective from Awil 2005 which has
since been Mthdrawn.
The charity eonstitutes a public beneffl entlly as defined by FRS 102. Assets and liabili118s are
inltially recognlsed al historical Gosl or transaction value unlass stated in the relevant a¢eounting
pc41Gy notes,
The trustees consider that Ihare are no material uncertaintles aboul the Trust's ablllty to conlinue
as a going concern.
Fund accountlng pollcy
Unrestricted income funds are general funds that are availat48 for use at the Iruslees, discretion In
furtheran￿ of the objectives of the charty. The trustee5 aim lo maintain positive reserves In
unreslri¢ted funds by managing the level of donations and grants awarded to ¥nsure that resources
expgnded do not exceed incoming rosources. Detaib of the fund is disclosed in note g.
Incomlng recognition
Al income is recognised once the charity has entiUemenl lo the income. il Is probable that the
Income wlll be received. and the amount of the inwme can be measured ielSably.
All donatSons are recognised when the charity has been notlfied In vmting of both the amount and
the settlement date. In the event that a donation is subject lo conditions that require a level of
perfomance before the charity is enlllled lo funds. the income is deferred and not reGognised until
elther those eondltions are mel, or the fulfllment of t￿)Se conditions is wholly wthin the control of
the charty.
Incomwo resources from tax reclalms are recognised at the same time as the donation to which rl
relates.
Income from th8 owration of the Lrfeboat Art Studio 1$ recognised In the period to which it relates.
Government COVID grant income is recorded when the grant has been received.

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6APRIL 2023
Expendlturn rneognltlon
All eX￿nditUre is accounted for on an accrua15 basls Inclusive of irrecoverable VAT. AII
expenditure including governance costs are all￿81￿d to the applicablo &xpenditure headings.
Liabilities are recognised as expenditure as soon as there is a legal or constmctive obligation
committing the chartty to th8t expenditUTe. it is piobat4e that the settlement wlll be required. and
the amount of the obllgation can be measurèd reliably.
Donatlons payable are payments made lo third parties In the furtherance of the charftable oblects
of the Trust. In the case of an uncondition81 donation this 15 accrued once th6 recipient has been
notified of the grant award. The notfficallon gives reclpient a reasonable expectation that Ih&y
will re￿1ve the donatlon. Donations aw8rde(J that are subj8¢t to th8 r8cipienl fulfilling perfomian
conditions are only aGcrued when the recipient has been noliNed ofthe donation and any remaining
unfulfilled condltions hava been met.
Gov8man¢e ¢08ts
GoVe[nan￿ cos15 comprlse all costs involving the public accountabilty of lh8 charity and Its
compliance with regulation and good pracllce.
Inve$lment property
Investment property is initially measured al transaction prlce, and is subsequently measured atfair
value at each reporting dale. Changes in fair value are iecoyni$¢d in net in¢omellexp￿ditUTe} for
the year.
Oebtors and crgdltors rncolvablelpayablg wlthln on• year
Oebtors and creditors receivable or payable within one year ar8 recorded al transadion pri¢e.
Subsequenvy. they ar8 m8asured at the cash or other consideiation expected to be received or
paid.
Trusts•8' rnmuneratlon and 0X￿n6•S
No Trustee or connected person thereof ha5 recelv8d any remuneratiorb the year.
Expgns•s paid In support of charltable fvndralslng gvonts
2023
Expenses incurred In ielatlon lo the Pcwthefven Arts Festival
9.536
9,536

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED SAPRIL 2023
Donatlons and grants
2023
Name of Instilvtlon
Salvation Amy
Bath Spa Univ8rsIIy
Combè Hay Church
Iword Arts
Dive Prolect Cornwall CIC
Derbyshire Heritag8 Trust
Holbume Museum
Peak District Artisans -young Emerging Artlsl Award
Bath Fesllva
American Museum & Gardens- Americana Fest
B8lh Mozartf&st
Bilelugs Lut- Sponsorshlp Special Music Scholarship at Wdls Cathedral School
Pebbles PfoSe¢t
Duke of Edinburgh Living Legacy Fund
New English 8rt Club- Drawing Schod Annual Scholarshlp
Friends of Buxton- International Festival
Cystic FYorosi8
Bachfest
Bath Abbey Music Trust 150 years
Friends of IMS
100
10,000
600
5,000
5.000
100
3.000
1,000
2,500
2.500
5,000
4,458
100
5.000
2.500
2,650
600
5.000
200
20
55,328
Opgration of the Llfgboat Art Studlo
2023
2022
Rent. rates and insurance crf studio
Heat and light of Studio
Cleaning, repalrs and maintengnca
Websit8 hostSng
Adv¢rtising
Telephone
Administration Fee
2,082
970
3,633
122
1,162
778
1,427
103
137
548
2,7¢XI
531
3,600
11,032
6,853

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
Inv•stm•nl Propgrty
2023
Falr Value
At 6 April 2022
Additions
R8valuatson$
650.000
Al 5 Aprll 2023
650,(A)O
The fair value of the inv8Stmenl tffOP8rties has been determined by Mr T Ostxjrne RICS. who 1$
also a Trustee, at 5 April 2023 on an open market basis wllh consideration for the nature and
condition of the Ffoperties.
Dèbtors
2023
2022
Due within on• year..
The Lrfeboat Art Studio rent
Prepayments
Mr T Osbome
Trevor Osborne Limiled
Original Theatre Co
Bath Festivals
3.200
1,456
203
1,830
6,573
203
450
5,000
10,000
5,000
10,000
19,859
24.056
8. Creditors- amounts falling due withln one year
2023
2022
Bank overdraft
Creditors and Accruals
7.047
15.575
15.328
22,622
15,328

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2023
9. Unre5trlcted fvnds
The fund balance is as a resull of activities in furtherance of the Charitable Trust's obJedves. The fund
is held to enable the trust to further Its obleclivès.
Balance
Net incomlng
r950urces
for Ihg yejr
Balance
at
0&04.2023
06.04.2022
Unrestrlcted fund
392.279
115,042)
377,237
ID. Relatod party transactlons
During the year there were folk)wing Iransactlons with relgtad partles..
Incomel{expen88)
2023
2022
Trevor Ost()mg Liméted
Donations received
Debtor
55,500
45.0
450
Mr T OstLime
Donations received
Debtor
203
203
Bath Mozartlest
Donations paid
15.000)
15,000)
Saracen House Estates Llmlled
Donation$ re¢8iV8d
750
Polhlev8n Holday Cottages Limited
Adminlytralion fee
13.600)
I2.7￿)
Pc*thleven Art Community
Intsrest Company
Donation paid
11,017}
Tievor Osborne 5s also a Trustee of the Bath Mozartfesl. Donations made were towaids the Bath
zartlesl Bachfest Fund.
Trevor Osborne Llmlled, Saracen House Estates Limit8d and Porthleven Holiday Cottages are
companies under the contrd of Trevor Osbome.
Trevor Osborne is a director of Portleven Art Comrnunity Interest Company which has been 8stsblished
to encourage participation and appreciation c< art in Porthieven.

10
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE TREVOR OSBORNE CHARITABLE TRUST
FOR THE YEAR ENDED 5 APRIL 2023
I report lo the trustees on my examination of the accounts of the Trevor 03boume Charitable Trust for
the year ended 5 April 2023 which are sel ￿t on pages 3 10 9.
Responslbllltles and basls of report
As the charity trustees you are responsible for the preparation of the accounts in accordance With the
requirements of the Charities Act 2011.
I report in respect of my examination of the Trust's accounts ¢arried out under $8ction 145 of the 2011
Act and in Cary1￿ oul my examination I have followed all the applicable dlrecllons glven by the Ch8rhy
Commission under section 145151(b) of the Act.
Indopgnd9nt wrnlner's st•temgnt
I have CLynpleteil my examination. I conlSrm that no material matters have come to my attention In
connection wilh the examinatw)n giving me eauge lo belleve that in any material respect..
acujunting records were not kept in respect of the Trust as r8quir8d by s8clion 130 of the
2. the accounts do not accord wtth those records.. or
3. the accounts do not o)mp]y with the applicable requirements aor￿¢m1r￿j Ihg fom and
conlenl of a￿unIS set out in the Charities (A￿oUnts and Reports) Regulations 2008 other
than any r8quir8m8nts that the accounts give a 'lruè and fairf view which Ss not a matter
conswjered as part of an independenl examination
I have no Con￿[￿5 and have come 8cross rto other matters in connection wlth the examinatlon lo whlch
attention should be drawn in this report in (￿der lo enable 8 proper underslandlng of the accounts to be
r8ach8d.
KLSmithBAF
CA
Howard Tax Ac¢ountsnls Limited
Riverside Chambers
Full Street
DERBY
DE13AF
Dated 25 August 2023