Trustees’ Annual Report for the period
From 17 March 2024 To 16 March 2025
Charity name: The Porto Charitable Trust Charity registration number: 1189244
Objectives and Activities
| SORP reference | SORP reference | SORP reference |
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document Para 1.17 To hold the capital and income upon trust to apply the income and all or such parts of the capital at such time or times and in such a manner to or for the benefit of such exclusively charitable objects and purposes in any part of the world as the Trustees may in their absolute discretion think fit. |
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| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. Para 1.17 and 1.19 In furtherance of the charity’s objects for the public benefit the trustees provide grants. |
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| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | In determining the charity’s activities, the trustees have had regard to the Charity Commission’s guidance on public benefit. |
Additional information (optional)
You may choose to include further statements where relevant about:
SORP reference Policy on grant making Para 1.38 Policy on social investment Para 1.38 including program related investment Contribution made by Para 1.38 volunteers Other
Achievements and Performance
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SORP reference
Summary of the main Para 1.20 During the year under review the charity
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| Achievements and Performance | Achievements and Performance | Achievements and Performance |
|---|---|---|
| SORP reference | ||
| Summary of the main | Para 1.20 | During the year under review the charity |
| achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
made four grants to the following charities totalling £100,000. Empower Youth Zone Salford Bollington United FC RAF Benevolent Fund Altrincham FC Community Sports |
Additional information (optional)
You may choose to include further statements where relevant about:
| Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about: |
Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about: |
Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about: |
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| Achievements against objectives set Para 1.41 |
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| Performance of fundraising activities against objectives set |
Para 1.41 |
Investment performance Para 1.41 against objectives Other
Financial Review
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Review of the charity’s Para 1.21 At the end of the reporting period the charity
financial position at the end had free reserves of £14,750 (2024:
£14,034).
of the period
In addition to the free reserves the charity
has bank balances of £421,445 (2024:
£505,489).
Statement explaining the Para 1.22 The Trustees pursue a policy of maintaining
policy for holding reserves a free reserve available to be spent in the
furtherance of the charity’s objectives as
stating why they are held
well as covering future needs, opportunities,
contingencies and risks.
Amount of reserves held Para 1.22
Reasons for holding zero Para 1.22
reserves
Details of fund materially in Para 1.24
deficit
Explanation of any Para 1.23
uncertainties about the
charity continuing as a going
concern
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Additional information (optional) You may choose to include further statements where relevant about:
The charity’s principal Para 1.47 sources of funds (including any fundraising) Investment policy and Para 1.46 objectives including any
| social investment policy adopted |
social investment policy adopted |
social investment policy adopted |
|---|---|---|
| A description of the principal risks facing the charity Para 1.46 |
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| Other | 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. Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. |
Structure, Governance and Management
| Structure, Governance and Management | Structure, Governance and Management | Structure, Governance and Management |
|---|---|---|
| Description of charity’s trusts: |
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| Type of governing document Para 1.25 Trust deed dated 16 March 2020 |
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| How is the charity constituted? Para 1.25 Trust |
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| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees |
Para 1.25 | Trustees are appointed by the trustees from time to time. |
| Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about: |
Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about: |
Additional information (optional) Youmay choose toincludefurtherstatementswhererelevant about: |
|---|---|---|
| Policies and procedures adopted for the induction and training of trustees Para 1.51 |
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| The charity’s organisational structure and any wider network with which the charity works Para 1.51 |
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| Relationship with any related parties Para 1.51 No trustee received any remuneration or was reimbursed any expenses in the year under review. Ludlow was paid £4,912 for trust administration and cash management services during the year under review. These fees are authorised under clause 6 of the trust deed. |
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| Other |
Reference and Administrative details
| Reference and Administrative details | Reference and Administrative details |
|---|---|
| Charity name The Porto Charitable Trust |
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| Other name the charity uses | |
| Registered charity number 1189244 |
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| Charity’s principal address | Ludlow Trust Co Ltd Tower Wharf Cheese Lane BRISTOL BS2 0JJ |
Names of the charity trustees who manage the charity
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Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
Ludlow Trust
1
Company Limited
2 Stephen Mark Malone
3 Dawn Malone
–
Corporate trustees names of the directors at the date the report was approved
Director name
Matthew John Wickers
Christopher Ian Thurlow
Walter Duncan Coxon
Gary St John Collins
Ali Reza Sarikhani
Ziba Christina Sakine
Sarikhani
John Stephen Dennis (Resigned On 25/10/2024)
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Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
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Type of adviser Name Address
Accountants Charter Tax Consulting 8th Floor, 1 Southampton St, London
Limited WC2R 0LR
Independent Examiner Katie Wilson Blue Spire Limited, Cawley Priory, South
Pallant, Chichester, PO19 1SY
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Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
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|---|---|
| Connor Bunney | |
On behalf of Ludlow Trust Company Limited (Trustee) |
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16 January 2026 |
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16 January 2026 |
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The Porto Charitable Trust 1189244
Receipts and payments accounts CC16a
For the period Period start date Period end date
To
from 17.03.2024 16.03.2025
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
Interest received 21,582 - - 21,582 14,232
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
AR) [ 21,582 ] - - 21,582 14,232
A2 Asset and investment sales,
(see table).
Sale of investments - - - - -
- - - - -
Sub total - - - - -
Total receipts 21,582 - - 21,582 14,232
A3 Payments
Grants awarded 100,000 - - 100,000 -
Trust administration fees 4,045 - - 4,045 4,297
Cash Management Charges 866 - - 866 922
- - - - -
- - - - -
- - - - -
- - - - -
Sub total [ 104,911 ] - - 104,911 5,219
A4 Asset and investment
purchases, (see table)
Investment purchases - - - - -
- - - -
Sub total [ - ] - - - -
Total payments 104,911 - - 104,911 5,219
Net of receipts/(payments) - 83,329 - - - 83,329 9,013
A5 Transfers between funds 84,045 - 84,045 - -
A6 Cash funds last year end 14,034 505,489 519,523 510,510
Cash funds this year end 14,750 - 421,445 436,194 519,523
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CCXX R1 accounts (SS)
07/01/2026
1
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 B1 Cash funds B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets |
Signature Capital account Income account Details Total cash funds (agree balances with receipts and payments account(s)) Details Details Securities Details Details |
Unrestricted funds Restricted funds to nearest £ to nearest £ - - 14,750 - - - 14,750 - 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) - - - - Print Name Connor Bunney on behalf of Ludlow Trust Company Limited (Trustee) |
Endowment funds to nearest £ 421,445 - - 421,445 OK Endowment funds to nearest £ - - - - - - Current value (optional) - - - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval 16 January 2026 |
|---|---|---|---|
Signed by one or two trustees on behalf of all the trustees
CCXX R2 accounts (SS)
07/01/2026
2
Independent Examiner's Report to the Trustees of The Porter Charitable Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 16 March 2025.
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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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.
Katie Wilson FCA Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
Date 16 January 2026