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← Torrens Memorial Scholarship Fund

2024-12-01-annual-return

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Torrens Memorial Scholarship Fund 107264

Receipts and payments accounts

For the period 02/12/2023 01/12/2024 To from

Section A Receipts and payments

Unrestricted
funds		 Restricted
funds		 Endowment
funds		 Endowment
funds		 Total funds Last year
to the nearest
£		 to the nearest £ to the nearest £ to the nearest £ to the nearest £
A1 Receipts
Incomefrom investments 28,514 - - 28,514 26,486
Interestreceived 1,353 - 1,353 920
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
A1 Sub total(Gross income for
the Annual Return)
29,868		 - - 29,868 27,406
A1 Receipts Unrestricted
funds
to the nearest
£
28,514
1,353
-
-
-
-
-
-

29,868		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
28,514
1,353
-
-
-
-
-
-
29,868		 Last year
to the nearest £
Incomefrom investments 28,514 - - 28,514 26,486
Interestreceived 1,353 - 1,353 920
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
A1 Sub total(Gross income for
the Annual Return)
29,868		 - - 29,868 27,406
A2 Asset and investment sales
(see tables 1 and 2 in section 7 of
theguidance).		 -
-
-
29,868
15,456
-
8,718
-
1,380
38
-
-
-
25,591
-
-
-
25,591
4,276
9,506.28
8,659
22,442		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 -
872,116
872,116
872,116
-
4,820
-
-
-
-
-
-
-
4,820
-
854,588
854,588
859,408
12,708
- 9,506.28
5,464
8,666		 -
872,116
872,116
901,984
15,456
4,820
8,718
-
1,380
38
-
-
-
30,411
-
854,588
854,588
884,999
16,984
-
14,123
31,107
- -
Proceeds from sale of
investmenets		 - 449,384
A2 Sub total - 449,384
Total receipts
A3 Payments
476,790
Grants paid 15,456 25,000
Investment managers fees (VAT
inclusive)		 - 4,583
Trust administration fees (VAT
inclusive)		 8,718 2,458
Bankcharges -
Independent examination fees 1,380 180
Cash managementfee 38 17
- -
- -
- -
**A3 Sub total ** 25,591 32,238
A4 Asset and investment
purchases(see tables 1 and 2 in
section 7 of theguidance)
- -
Purchase of investments - 468,867
**A4 Sub total ** - 468,867
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
501,105
4,276 - 12,708 16,984 - 24,315
9,506.28 - - 9,506.28 - -
8,659 - 5,464 14,123 38,438
22,442 - 8,666 31,107 14,123

CCXX R1 accounts (SS)

1

APPENDIX 2
Torrens Memorial Scholarship Fund - 107264		 APPENDIX 2
Torrens Memorial Scholarship Fund - 107264		 Period end date: 01/12/2024 Period end date: 01/12/2024 Period end date: 01/12/2024 Period end date: 01/12/2024 Period end date: 01/12/2024 Period end date: 01/12/2024
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
B3 Investment assets
B2 Other monetary
assets
B4 Assets retained
for the charity’s own
use
B5 Liabilities		 (agree balances with receipts and payments account(s))
Details
Capital account
Income account
Total cash funds
Details
Details		 Unrestricted
funds
to nearest £		 Restricted
funds
to nearest £		 Endowment
funds
to nearest £
8,666
-
-		 Total funds
to nearest £
8,666
22,442
-		 Last year
to nearest £
- - 8,666 8,666 5,464
22,442 - - 22,442 8,659
- - - -
22,442 - 8,666 31,107 14,123
OK
Unrestricted
funds
to nearest £
-
-
-
-
-		 OK
Restricted
funds
to nearest £
-
-
-
-
-
Fund to which
asset belongs		 OK
Endowment
funds
to nearest £
-
-
-
-
-
Total
Cost (optional)		 OK
Total funds
to nearest £
-
-
-
-
-		 OK
Last year
to nearest £
- -
- -
- -
- -
- -
- -
Current value
(optional)		 Lastyear
Investmentportfolio - 1,137,092 1,016,397
- - -
- - -
- - -
Details Total
Fund to which
asset belongs		 - 1,137,092 1,016,397
Cost (optional) Current value
(optional)		 Lastyear
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
Details Total
Fund to which
liability relates		 - - -
When due
(optional)		 Amount due
(optional)		 Lastyear
- -
- -
- -
- -
- -
Signature Total
Print Name
Chris Thurlow
onbehalfof Ludlow Trust CoLtd		 - -
Date of
approval
Chris Thurlow 01/10/25
onbehalfof Ludlow Trust CoLtd

/ Statement Assets & liabilities

2

December 2007

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Trustees’ Annual Report for the period

From 02 December 2023 To 01 December 2024

Charity name: Torrens Memorial Scholarship Fund Charity registration number: 107264

Objectives and Activities

SORP reference
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
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.
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

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 Presbytarian Church in Ireland of £15,456. Summary of the main achievements of the charity, identifying the difference the Para 1.20 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

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----- Start of picture text -----
Investment performance
against objectives Para 1.41
Other
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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 £22,442 (2023:
£8,659).
In addition to the free reserves the charity
has bank balances of £8,666 (2023: £5,464)
and investments valued at £1,137,092
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		 Para 1.23

charity continuing as a going concern

Additional information (optional)
Youmay choosetoincludefurtherstatementswhererelevantabout:		 Additional information (optional)
Youmay choosetoincludefurtherstatementswhererelevantabout:		 Additional information (optional)
Youmay choosetoincludefurtherstatementswhererelevantabout:
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

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Will Trust
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:		 Additional information (optional)
You may choose to include further statements where relevant about:		 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 received
£8,718
(2023:
£2,458)
for
trust

administration services during the year under review. 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
1stFloor, Tower Wharf
Cheese Lane, Bristol
BS2 0JJ

Names of the charity trustees who manage the charity

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20		 Trustee name Office (if any) Dates acted if not for whole
year		 Name of person (or body) entitled
to appoint trustee(if any)
Ludlow Trust
CompanyLimited

– Corporate trustees names of the directors at the date the report was approved Director name Gary St John Collins Walter Coxon Ali Sarikhani Ziba Sarikhani Christopher Thurlow Matthew Wickers

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 NatWest 2ndFloor, Trinity Quay II, Avon Street,
Bristol, BS2 2DH
Bankers NatWest 2ndFloor, Trinity Quay II, Avon Street,
Bristol, BS2 2DH
Accountants Charter Tax Consulting
Limited		 8thFloor Southampton Street, London,
WC2R 0LR

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 01/10/25

2025-10-01Torrens-Accounts

Final Audit Report

2025-10-01

Created: 2025-10-01 By: Estera Rzepus (Estera.Rzepus@ludlowtrust.com) Status: Signed Transaction ID: CBJCHBCAABAAO4jiNQ0TmMMDQdY3z7xsWjiZiAFYa2Wd

"2025-10-01Torrens-Accounts" History

Document created by Estera Rzepus (Estera.Rzepus@ludlowtrust.com) 2025-10-01 - 11:06:45 AM GMT

Document emailed to Chris Thurlow (chris.thurlow@ludlowtrust.com) for signature 2025-10-01 - 11:06:49 AM GMT

Email viewed by Chris Thurlow (chris.thurlow@ludlowtrust.com) 2025-10-01 - 11:17:49 AM GMT

Document e-signed by Chris Thurlow (chris.thurlow@ludlowtrust.com) Signature Date: 2025-10-01 - 11:18:06 AM GMT - Time Source: server

Agreement completed.

2025-10-01 - 11:18:06 AM GMT

Independent examiner’s report to the charity trustees of Torrens Memorial Scholarship Fund

I report on the accounts of the Trust for the year ended 1 December 2024, which are set out on pages 1-2 for the financial statements and 3-12 for the report of the trustees.

Respective responsibilities of charity trustees and examiner

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008.

It is my responsibility to:

Basis of independent examiner’s report

I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.

My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

  1. That accounting records were not kept in accordance with section 63 of the Charities Act

  2. That the accounts do not accord with those accounting records

  3. That the accounts do not comply with the accounting requirements of the Charities Act

  4. That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner’s statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

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Name: Thomas Mackey

ICAEW (ACA)

Address: Ward Goodman Audit Services Limited, 4 Cedar Park, Cobham Road, Ferndown Industrial Estate, Wimborne, Dorset BH21 7SF

Date: 01/10/25