## **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**