,,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
ServI￿S 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)
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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)
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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)
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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