2021-01-07-accounts - The Tor Trust

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Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year From 08 January 2020 To 07 January 2021

Section A Reference and administration details

Charity name The TOR Trust

Other names charity is known by Registered charity number (if any) 1187325

Charity's principal address Trustee Department 1[st] Floor, Tower Wharf Cheese Lane, Bristol Postcode BS2 0JJ

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Stephen Frank Welton	(Settlor)
Lisa Welton	(Settlor)
Coutts & Co		To 06 April 2021
Ludlow Trust CompanyLimited		From 06 April 2021

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

Names and addresses of advisers (Optional information)

TAR

March 2012

Type of adviser Name Address	Type of adviser Name Address	Type of adviser Name Address
Investment Managers	Coutts & Co	440 The Strand, London, WC2R 0QS
Bankers	Coutts & Co	440 The Strand, London, WC2R 0QS
Solicitors	TLT LLP	One Redcliffe Street, Bristol, BS1 6TP
Independent Examiner	Geoffrey Frost	Blue Spire Limited, Cawley Priory, South Pallant Chichester, West Sussex PO19 1SY

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Trust deed dated 07 January 2020 Type of governing document (eg. trust deed, constitution) Trust How the charity is constituted (eg. trust, association, company) Trustees are appointed by the settlors, or survivors of them, during their Trustee selection methods lifetimes and subject to this appointment is by the trustees. (eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

The objects of the Trust are to apply the income, and all or such part or parts of the capital, at such time or times and in such manner to, or for the benefit of such charities or such exclusively charitable purposes Summary of the objects of the according to the laws of England and Wales in any part of the world as charity set out in its the trustees may in their discretion think fit. governing document

TAR

March 2012

In furtherance of the charity’s objects for the public benefit the trustees provides grants. In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

TAR

March 2012

Section D Achievements and performance

Summary of the main During the year under review the charity made 1 grant payment of achievements of the charity £150,000 as set out in the notes. during the year

TAR

March 2012

Section E Financial review

Brief statement of the

At the end of the reporting period the charity had free reserves amounting to £6,596.

charity’s policy on reserves In addition to the free reserves the charity has bank balances of £11,709 and investment assets of £498,409 within the expendable endowment fund.

The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives, as well as covering future needs, opportunities, contingencies and risks.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s)[Julian Doughty ] On behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc)

Date 11 October 2021

TAR

March 2012

Charity Name No (if any) The TOR Trust 1187325 Receipts and payments accounts CC16a For the period Period start date Period end date To from 08 January 2020 07 January 2021

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £ - - 6,499 97 - - - - 6,596 - - - 6,596 150,000 - 4,200 - - - - - - 154,200 - - - 154,200 (147,604) 154,200 - 6,596	Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Endowment funds to the nearest £ 583,886 42,500 - - - - - - 626,386 752,989 - 752,989 1,379,375 - 5,427 - - - - - - - 5,427 1,208,039 - 1,208,039 1,213,466 165,909 (154,200) - 11,709	Total funds to the nearest £ 583,886 42,500 6,499 97 - - - - 632,982 752,989 - 752,989 1,385,971 150,000 5,427 4,200 - - - - - - 159,627 1,208,039 - 1,208,039 1,367,666 18,305	Last year to the nearest £
Donations to trust	-				-
Gift aid	-				-
Investment income	6,499				-
Income from bank interest	97				-
	-				-
	-				-
	-				-
	-				-
*Sub total*(Gross income for AR)	6,596				-

A2 Asset and investment sales, (see table).
Sale of investments	-				-
	-				-
*Sub total*	-				-
*Total receipts* A3 Payments
					-

Grants awarded	150,000				-
Inv mgmt and admin	-				-
Set upfee	4,200				-
	-				-
	-				-
	-				-
	-				-
	-				-
	-				-
**Sub total **	154,200				-

A4 Asset and investment purchases, (see table)
Investmentpurchases	-				-
	-
**Sub total **	-				-
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end **Cash funds this year end **
					-

	(147,604)	-	165,909	18,305	-
	154,200	-	(154,200)	-	-
	-	-	-	-	-
	6,596	-	11,709	18,305	-

CCXX R6 accounts (SS)

Section B Statement of assets and liabilities at the end of the period

Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B4 Assets retained for the charity’s own use B3 Investment assets B2 Other monetary assets B1 Cash funds	Signature Inv mgmt and admin Independent examination Details Details Details Investments Details (agree balances with receipts and payments account(s)) Details Capital account Income account 2 Reserve account 2 *Total cash funds* Income account Reserve account Capital account 2	Unrestricted funds Restricted funds to nearest £ to nearest £ - - 6,596 - - - - - - - - - 6,596 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - - - - - Fund to which asset belongs Cost (optional) - - - - - - - Fund to which liability relates Amount due (optional) Endowment 2,167 Unrestricted 780 - - - Print Name Julian Doughty On behaf of Ludlow Trust Company Limited	Endowment funds to nearest £ 11,595 - 114 - - - 11,709 OK Endowment funds to nearest £ - - - - - - Current value (optional) 498,409 - - - - Current value (optional) - - - - - - - When due (optional) Date of approval 11 October 2021
		Julian Doughty On behaf of Ludlow Trust Company Limited	11 October 2

CCXX R7 accounts (SS)

Section C Notes to the Accounts

Section C Notes to the	Accounts	Accounts
C2 Grants to institutions C3 Related party transactions C1 Nature and purpose of funds(may be stated on analysis of funds worksheets)	Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charityand which have not been designated for otherpurposes. Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives.
	Recipient - 1 payment unless annotated Sussex Community Foundation	£ 150,000
		150,000

	No trustee received any remuneration nor reimbiursed any expenses in the year under review. During the year under review Coutts & Co, a trustee of the charity, were paid fees for the provision of administration and investment management services amounting to £5,427 and £4,200 for the establishment of the trust as authorised under clause 6 of the trust deed.

CCXX R8 accounts (SS)

Independent Examiner's Report to the Trustees of The TOR Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 07 January 2021 as set out on pages 6 to 8.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

11 October 2021

Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY