,,Charity Trustees, Annual Report for the period From 02 December 2022 To 01 December 2023 Charity name: Torrens Memorial Scholarship Fund Charity registration number: 107264 Objectives and Activities SORP referen¢• Summary of the purposes of the charity as set out in its governing document Para 1.17 The objectives of the charity are to support scholarships at the Assembly's College of the Presbyterian Church in Ireland, known as the Union Theological College. Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or ServIS 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. Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefi't 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 ma choose to include further statements where relevant about.. SORP referen 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 the charity made one award to Union Theological College of £25,000. Summary of the main 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. Par8 1.20 Additional Infonnation (optional) You ma 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 Review of the charity'8 financial position at the end of the period Para 1.21 At the end of the reporting period the charity had free reserves of £8,659 (2022: £6,973). In addition to the free reserves the charity has bank balances of £5,464 (2022: £31,465) and investments valued at £1,016,397 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. Statement explaining the policy for holding reserves stating why they are held Para 1.22 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 infonnation {optional) You ma 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 146 A description of the principal risks facing the charity PBra 1.46 Other
Structure, Governance and Management Description of charity's trusts: Type of governing document Para 1.25 Will Trust (trust deed, royal charter) How is the charity constituted? Para 1.25 Trust (e.g unincorporated association. Clo} 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 Pars 1.25 Trustees are appointed by the existing trustees, Additional information (optional) You ma 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 organi8ational structure and any wider network with which the charity works Para 1.51 Relationship with any related parties Para 1.51
Other Reference and Administrative details Charity name Torrens Memorial Scholarship Fund Other name the charity uses Registered charity number 107264 Charity's principal address Trustees Department 1st Floor, Tower Vvharf Cheese Lane, Bristol BS2 OJJ
Names of the charity trustees who manage the charity Dates acted if not for whole Trustse name Offlce (If any Name of person (or body) enlitli to a olnt trustee ifan Ludlow Trust Company Limited 10 12 13 14 15 16 17 18 19 20 Cor orate trustees- names of the directors at the date the re Direetor name ortwasa roved
Name of trustees holding title to property belonging to the charity Trustee name Dates acted if not for whole ear 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 object5 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) e of adviser Name Address Investment Managers Natwest 2nd Floor, Trinity Quay11, Avon Street, Bristol, BS2 2DH 2nd Floor, Trinity Quay11, Avon Street, Bristol, BS2 2DH 17 Sheringham Avenue, Southgate, London, N14 4UB Bankers Natwest Accountsnts KJF Accounting Limited Name of chief executive or names of senior stsff members (Optional information)
Exemptions from disclosure Reason for non-disclosure of ke ersonnel details Other o tional information Declarations The trustees declare that th8y have approved the trustees, report above. Signed on behalf of the charity's trustses Signature(s) Full name(s) Chris Thurlow on behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc) Date