**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
## **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||
||||
**----- Start of picture text -----**
Investment performance
against objectives Para 1.41
Other
**----- End of picture text -----**
## **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||||
||||||
||||||
||||||
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||||||
||||||
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||||||
||||||
||||||
||||||
||||||
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||||||
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||||||
||||||
– 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:
- examine the accounts under section 65 of the Charities Act
- follow the procedures laid down in the general Directions given by the Commission under
- section 65(9)(b) of the Charities Act
- state whether particular matters have come to my attention.
## **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.
## **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