Trustees’ Annual Report for the period
From 22 April 2022 To 21 April 2023
Charity name: Martha McMenamin Memorial Scholarships Trust Charity registration number: 107261
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The objects of the charity are the provision of charitable donations to individuals who are |
| studying in the Nursing, Midwifery and Health | ||
Visiting sector to study. The charitable donation will be forwarded to The Western Health and Social Care Trust who are undertaking the training to aid their applications and personal development. |
||
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identifiedinthe accounts. |
Para 1.17 and 1.19 | In furtherance of the charity’s objects for the public benefit the trustees provide grants. |
| 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 Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38
Contribution made by volunteers Other
Achievements and Performance
SORP reference During the year under review no grant awards were made. Summary of the main Para 1.20 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.
Additional information (optional)
You may choose to include further statements where relevant about:
| Achievements against objectives set |
Para 1.41 |
|
| Performance of fundraising activities against objectives set |
Para 1.41 |
|
| Investment performance against objectives |
Para 1.41 |
|
| Other |
Financial Review
| Financial Review |
||
|---|---|---|
| Review of the charity’s financial position at the end of the period |
Para 1.21 | At the end of the reporting period the charity had free reserves of £29,348 (2022: £15,042). In addition to the free reserves the charity has bank balances of £5,003 (2022: £12,175) and investments valued at £602,969 within the expendable endowment fund. |
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | 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. |
| Amount of reserves held | Para 1.22 | |
| Reasons for holding zero reserves |
Para 1.22 | |
| Details of fund materially in deficit |
Para 1.24 | |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 |
Additional information (optional)
You may choose to include further statements where relevant about:
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 |
|
|---|---|---|
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 |
|
| A description of the principal risks facing the charity |
Para 1.46 |
|
| 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
| Description of charity’s trusts: | ||
|---|---|---|
| Type of governing document (trust deed,royalcharter) |
Para 1.25 | Trust deed dated 21 April 1986. |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Trust |
| 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 existing trustees. |
Additional information (optional)
You may choose to include further statements where relevant about:
| Policies and procedures adopted for the induction and training of trustees |
Para 1.51 |
|
|---|---|---|
| The charity’s organisational structure and any wider network with which the charity works |
Para 1.51 |
|
| Relationship with any related parties |
Para 1.51 |
No trustee received any remuneration or was reimbursed any expenses in the year under review. Ludlow Trust Company Limited was paid £2,569 for trust administration services during the yearunder review. |
| Other |
Reference and Administrative details
| Charityname |
Martha McMenamin Memorial Scholarships Trust |
|---|---|
| Other name the charityuses | |
| Registered charitynumber |
107261 |
| Charity’s principal address |
Trustees Department 1stFloor, Tower Wharf Cheese Lane, Bristol BS2 0JJ |
Names of the charity trustees who manage the charity
----- Start of picture text -----
Name of person (or
Dates acted if not for body) entitled to
Trustee name Office (if any)
whole year appoint trustee (if
any)
1 [Ludlow Trust ]
Company Limited
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
----- End of picture text -----
– Corporate trustees names of the directors at the date the report was approved Director name
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)
| Type of adviser | Name Address |
Name Address |
|---|---|---|
| Investment Managers | Coutts & Co | 440 The Strand, London, WC2R 0QS |
| Bankers | Coutts & Co | 440 The Strand, London, WC2R 0QS |
| Accountants | KJF Accounting Limited | 17 Sheringham Avenue, Southgate, London, N14 4UB |
| Name of chief executive or names of senior staff members (Optional information) | ||
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) Chris Thurlow on behalf of Ludlow Trust Company Limited Position (eg Secretary, , Chair, etc.) Date