REGISTERED CHARITY NO. 294156
THE TREVOR OSBORNE CHARITABLE TRUST
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

THE TREVOR OSBORNE CHARITABLE TRUST
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRJL 2024
CONTENTS
Pag•
Trustees, Report
ststement of Financial Activities
Balance Sheet
Notes lo the Financial Statements
Independent Examingrs Report
10

THE TREVOR OSBORNE CHARITABLE TRUST
REPORT TO THE BOARD OF TRUSTEES
FOR THE YEAR ENDED 5 APRIL 2024
TN$tO0S
Trevor Osbome
Derek Parkes
Sarah Osbome
Daniel Allen
Principal Address
The Old Stables
Combè H8y
8alh
BA2 7EG
Reglstratlon Detalls
Registered Charity No. 294156
The Trustees present their annual report and the financial ststements for the year ended 5 April 2024.
StruC￿re, Governance and Managèmènt
Tha Charitable Trusl is governed by a Dgclaratlon of Twst dated 7 Aprfl 1986.
The power of appctrinling naw or addltFonal Trust888 Is vested in Trevor Osborne during his life, 8nd
thereafter by resolution of the Tvuslees.
ObJ¢¢tlves and Artlvltlgs for the publlc ben￿5¢
The object of the Charilable Trust is lo pay or apply the income and, in ￿rne circUmstan￿s, the capital
of the Tnjstto registered charities or for exclusively charitable purposes according to the law of England
and Wa￿, at the discretion of the Trustees.
Donalkjns recelved by the Charitable Trust are ulilised to 8chi&ve the above (i)jectNes.
The Trustownsthe Old LWel)oal Hou88 In POrth￿Ven and eonllnues to let thls as The LrfeboatArt studio
which is made available lo artists and students from universities, local and national community groups
and others as an arts resource to teach. learn, paint and create other art and exhibit. The
accommodation is made availablg for those purposes and whilst some groups are alknwed the space
free of charge some charrJ8s are applied to indiwduals in order lo ￿cover the running cos15 of the
property. Tho intention is to encourage arts and culture for 811 age groups and through this the
Porthleven community.
The Trust owns Hard￿ck Hall in Buxton whith has changed its name to Hardwck Studio to refle¢t the
fact thatthe building is used by Bridgehead Arts Ltd as the Green Man Gallery which provldes exhlbltfon
space and rooms usod for artistic engagement and creativity.
The Trustees conflmi that they have referred lo the Chafity Commission's general guidance on public
benofil when reviewng the Charitable Trust's aim5 and objectives. in pknning future aGtivities and
setting the grant rnaking policy for the year.
Achievernents and Performance
08ts11s of expenses pald for charStable events and charitsble don8tlons made to further the Charitable
Trust's purposes for the publlc benefi't are given in Th)te$ 3 and 4 to the financial stat&mgnts.

THE TREVOR OSBORNE CHARITABLE TRUST
REPORT TO THE BOARD OF TRUSTEES {CONT'D)
FOR THE YEAR ENDED 5 APRIL 2024
Flnan¢lal Revlew
The Trustees aim lo maintain posittve wservès In unrestricted ftjnds by marbaging the l&vel of donations
and 9ranl8 awarded to ensure that resources expended do not exceed incoming resourcès, 811 surplus
funds b8ing applied in fvrtherance of ihe Charil8ble Trust's obie¢livo$.
*•
Approved by the Trustees on ....
Trevor Osbome

THE TREVOR OSBORNE CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITES
FOR THE YEAR ENDED 5APRIL 2024
Note
2024
2023
INCOME
DonalKJns and Le
cies
Donations receivable
Gift aml receivable
75,650
55.500
charitab￿ ActNiti8s
Operation of Th8 Lifeboat Art Studio
8,375
9,275
Total In¢omo
84,025
64.775
EXPENDrruRE
Charitable Activrties..
Expèns8$ paid in support of charitable
fundraising events
Donations and grants
Opgralion of Tho Lifeboat AJt Sludlo
Operallon of Hardwick H￿1
6,798
,958
10,135
232
9.536
55,328
11,032
1.190
Governance costs
Accountancy
Sundry
Bank charge$ and interest
2.640
202
67
2,556
175
Totsl expendlturo
(71,0321
{79.8171
Net in¢omellexpenditur•)
12,993
{15,0421
G8ins and bsses on revaluation of fLxed assets for the
Charty's own use
Fund balan¢o$ brought forward
647,237
662.279
Fund balances carried forward
660,230
647,237

THE TREVOR OSBORNE CHARITABLE TRUST
BALANCE SHEET
AS AT 5APRIL 2024
Note
2024
2023
Fixed assets
Investment property
650,000
650,000
U￿Ont assets
Debtors
Cash al bank
13,853
11,269
19.859
25,122
19.859
Creditors
Amounts falling due wilhln one year
114.892}
122,622}
Not curren¢ a$$otsllliabilltles}
10,230
2,763)
Nel ass•tsllliabllltlos)
660.230
647.237
Funds
Unrestricted fund5
390.230
377.237
Revaluaticffl reserve
270.000
270.000
660,230
647,237
The noles al pages S lo 9 form part of these accounts.
roved by tho Trustees on
TrevY)r Osbom¢

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2024
Accounllng poll¢lg8
General Informatlon
The Trevor Osborne Charitable Trust is an unincorporat8d charity, regtstered in the Unf(ed
Kingdom under the Charities Act 2011.
The financi81 slalements are prepared in sterling. which is the functional currenoy of the Trust.
Monetary amounts in these financial slalemenls are roun(led to th6 nearest £.
Basis of prèparation and assessmont of gong concern
The fmancial statements have been prepared in accordance woth the Charttles SORP IFRS102)-
ACc￿j￿tIng and ReFJOrting by Charibes.. Statement of Recommended practi￿ applicable lo
charities preparing their accounts in accordan￿ wtth the Financial Reporting Stsndard applicable
in the UK and Republic of Ireland IFRS 1021, the Financial Reporting Stsndard applScable in the
UK and Republic of Ireland IFRS 1021 and tho Charities Act 2011.
The fmancial statements have been prepared to give us a true and fair view and have departed
from Ihe Charities IAccounts and Reports) Regulations 2008 only to the extent reqUI￿d to provide
a true and fair view. This departure has involved following the Charities SORP IFRS1021 published
in October 2019 ralhor than tho Accounting and Reporting by Charlties.- Stat&menl of
Recommon(J8d Practicg effgctive from Aprfl 2005 whSch has slnce been wilhdrawn.
The chartty constilules a public benèfit ents'ty as defined by FRS 102. As$ets and liabilities are
initially ￿cognised al historical c051 or transaction value unless stated in the r818vant accounlir
policy notes.
The twslees ￿nsider that there are no matsrial uncertainties about the Trust's abilty lo continue
as a going concern.
Fund a¢¢ountlng poll¢y
unrestn.cted incorne funds are g8neral funds that ara availabl8 for use at tha Iru519es' di$¢reti¢)n in
fijrtherance of the objectives of the charity. The trustees aim to maintain positive restrrves In
unrestricted funds by managing the level oftjonations and grants awarded lo ensure thatresources
expended do not exceed Incomlng resources. Detsils of the fund is disclosed in note 9.
In¢omlng r¢¢ognltlon
l income is recognised once the charity has entillement lo the income. il is probabla that the
income will be received. and the arnount of the income can be measured reliably.
All donalions are recognised when the charlty has been notlffed In writing of both Ihe 8mount and
the settlement dale. In the event that a donallon Is subject to conditions that rèquire a level of
perfom)ance before the charity Is enlrtled to funds. the income is defèrred and not recognised until
either those Conditions are mel, or the fuifilmenl of those corKlitions is wholly wthin th8 control of
the ch8rity.
Incoming resources from tsx reclaims are recognised al the some lime as the donation to which tt
rgkates.
Income from the operation of the Lrfeboat Art Studio is re¢ogni$ed in the period to which il relates.

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2024
Expenditure recognltion
All expenditure is accounted for on an accruals basis incluslve of irrecoverable VAT. AII
expgndtture including govemance costs are allocated lo the applicable expenditure headings.
Liabilities are recognised as expenditure a8 soon as there is a legal or conslru¢live obligatian
ccmmtming the Charity to that expenditure. it Is pr¢bable Ihal the settlement will be required, arKI
the amount of the obligation can be measured reliably.
Donations paylble are payments made to third parties In the furtherance of the charllablg objects
of the Trust. In the Case of an uncondttlonal donation this is accrued once the recipient has bgen
r￿lif&e￿ of Ihe grant award. The notifl￿tion gives the recip￿nt a reasonable expedation that they
will receive the donation. Donations awarded that ale subjKI to the recipient fu￿1111ng performance
conditions are only accrued when the recipient has been notified ofthe donallon and any remaining
unfulfilled conditions havo been met.
Govemance ¢o$ts
Governance costs ¢(￿prISe all costs involving the public accountability of the Charity and Its
compliance with regulation and good pra¢lice.
Inv•$tment propèrty
Investmenl property is initially measured at transaction price. and 15 subsequently measurod al fair
value at each reporting date. Changes in fair value are recognis8d in nel incomellexpendilurel for
the year.
Debtors and Credltors rnceivablelpayablo wlthln one year
Debtors and creditors receivable or payable Yllhin one year are recordgd al transaction price.
Subsequendy, they are ffleasured al the cash or other consideration expected to be received or
paid.
Trustsgs. remunerallon and exp8n8
No Trustee or connected penson thoreof has received any remunèrallon the year.
Exp8nseJ pald in support of charftablg fvndral8lng ov•ntS
2024
Expenses incurrgd in ralatlon to the Porthelven Ajts Festival
6.798
6,798

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2024
Donations and grants
2024
Namo of instltutlon
Comba Hay Church
Ilfoid Arts
Dive Project Cornwall CIC
Porthlèven Arts Prlzo
Holburna Museum
Starr in the Community CIC
Bath Festivals
Benedgtti Foundation
Bath Mozarttest
Biletugs Lut- Sponsorship Special Music Scholarship 01 Wolls Cathedral School
Bath Philharmonia - Schools Voice Legacy Project
Frlends of Buxton International Festival
5.000
3.000
200
3,000
45
22,500
10.000
5.000
15371
500
1,650
50.958
Operatlon ol Ihe Llf¢bo•t Art Studlo
2024
2023
Rates and insurance of sludlo
Haat and light of sludS0
Cleaning. repairs and maintenance
Websf(e hosb'ng
Adverb'sing
Telephone
Administration Fee
1,728
1,161
2,650
30
113
853
3,600
2,082
970
3.633
122
531
3,600
10.135
11.032

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5APRIL 2024
6. Investment prO￿rtY
2024
Falr Value
Al 6 April 2023
Addit*)ns
Rwaluatl¢)ns
650.000
At 5 April 2024
650.000
The fair value of the investment properties has been determined by Mr T osbome RICS, who 1$
also a Trustee. at 5 April 2024 on an open market basis with considerats'on lor the rbalure and
coThYilion ol the wopertl88.
Debtorn
2024
2023
Due wlhin one year..
The Lifeboat Art Studio Tent
Prepayments
MrT 05born&
Onginal Theatrè Co
88th Festival$
4,375
4,275
203
6,C(JO
3.200
1,456
203
5,000
10.000
13,853
19,859
8. Cr•ditars- amounts falling du6 wlthln ong y•ar
2024
2023
Bank overdraft
Credilots and Accruols
7,047
15,575
14.892
14.892
22,622

THE TREVOR OSBORNE CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
9. Unre¥lrl¢t8d funds
The fund balance is as a result of activiti8s in furlheranco of the Charitable Trust's objectives. The fund
is held lo enable the trust to further ils objectives.
Balan¢•
at
06.042023
Net Incoming
rgsour¢•s
for the year
Balan¢•
05.04.2024
Unrestricted fund
377.237
12,993
390.230
10. R•latod party tran$aetions
During the year there were the following lran8actii￿s wlh relatèd parties:
IncomellexpeNsel
2024
2023
Trevor Osbome LSmited
Donatlons received
72,650
55.500
Porthleven Harbour Dock Company
Dcfflation$ re￿ived
3,000
Mr T Osborna
Donation8 racebved
Debtor
203
203
Bath Mozartfest
Donations paid
{5,000)
15.0001
Pothleven Holiday Cotlages Limited
Administration fee
13,600}
13,6001
Trevor Osbome Is also a Truste8 of the Bath Mozartf8St.
Trevor Osborn8 Limited, Porthleven Harbour Dock Company and Porthl8ven Holiday Cottages are
companies under the control of Trevor Osbome.
Trevor Osbome is a director of Porueven Art Community Int8r8St Company whlch has been established
to encourage participation and appreciation of art in Porthleven.

io
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE TREVOR OSBORNE CHARITABLE TRUST
FOR THE YEAR ENDED 5 APRIL 2024
I report to the Irttstees on my examination of tho accounts of th8 Trèvor Ostoume Charitable Trust for
the year ended 5 April 2024 which are sel out on pages 3 to 9.
Rosponslbllltl•s and basls of roport
As the charity trustees you ar¢ responslble for Ihe preparation of the accounts in aCc(¥dan￿ wilh the
requirements of the Charities Acl 2011.
I repori in respect of my examination of the Trust's accounts carried <)ut under section 145 of the 2011
Act and in carrwng out my examination I have followed all the applicabb directions given by tho Charity
Commission under section 145{5}Ibl of the Act.
Indop•ndont oxaminerfs statement
I have wmplelefl my examination. I confirm that no material matters have cotne to my attenlhjn in
connection with the examination giwng me cause lo believe that in any material respect-.
accounting records were not kept in respect of the Trust as ￿qUired by sectKJn 130 of the
Act; or
2. the accounts do not accord with Ihose records,.
3. the accounts do not comply with the applicab￿ requirements C￿rnIng the fomi and
Gontent of accounts set out in the Charities (A￿unIS and Reports} Regulations 2008 other
than any roquirements that the accounts glve a 'true and fairf view which is nol a rnatter
considered as part of an Ind8pendent examination
I have no corKerns and have come across no other matters in connecbon with the examination to which
attention should be drawn in this report in order to enab￿ a proper understanding of the accwnts to be
reached.
KLSmithBAF
CA
Howard Tax Aw)untanls Llmlted
Rfverside Chambers
Full Street
DERBY
DE13AF
Dated
3 June 2024