OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-09-09-accounts

Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year From 10 Sept 2021 To 9 Sept 2022

Section A Reference and administration details

Charity name The Adlard Family Charitable Foundation

Other names charity is known by Registered charity number (if any) 1164276

Charity's principal address Trustee Department 1[st] Floor, Tower Wharf Cheese Lane, Bristol Postcode 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)
Charles J Adlard Settlor
Elsa L Adlard
Ludlow Trust
CompanyLimited

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

TAR

1

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information)
Type of adviser
Name
Address
Investment
Managers		 Coutts & Co 440 The Strand, London, WC2R 0QS
Bankers Coutts & Co 440 The Strand, London, WC2R 0QS
Solicitors TLT LLP One Redcliffe Street, Bristol, BS1 6TP
Independent
Examiner		 Geoff Frost Blue Spire Limited, Cawley Priory, South Pallant, Chichester,
West Sussex, PO19 1SY
Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Type of governing document

Trust deed dated 9 September 2016

How the charity is constituted

Trust

Appointment by existing trustees Trustee selection methods

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

On agreeing to become a trustee of the charity, the trustees are thoroughly briefed by the existing co-trustees on the constitution of the Foundation, the day-to-day management, responsibilities of the trustees, the current objectives and future plans.

The trustees have assessed the major risks to which the charity is exposed, in particular those relating to its investments and its finances. The trustees believe that by ensuring controls exist over key financial systems incorporating Coutts & Co’s systems and controls, and by delegating the investment management function to investment managers subject to regular monitoring including periodic reviews of performance against benchmarks, they have established effective systems to mitigate those risks.

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

To further such other objects or purposes which are exclusively charitable according to the law of England and Wales in any part of the world and in such manner as the trustees may in their absolute discretion think fit.

TAR

2

The Trust achieves its objects by the provision of grants. In determining the means by which the trust shall achieve its objects, the trustees have had regard to the Charity Commission’s guidance on public benefit.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

Regular meetings are held by the trustees where they discuss any applications received and consider which grants they wish to award.

In pursuance of its objectives, the charity’s income is applied in making grants to a number of charitable organisations and bodies involved in activities which further the charity’s objectives.

You may choose to include further statements, where relevant, about:

Applications for grants must be made in writing.

TAR

3

Section D Achievements and performance

During the year under review the charity made grants totalling £58,000 Summary of the main were made as set out in the notes to the accounts. achievements of the charity during the year

TAR

4

Section E Financial review

Brief statement of the

charity’s policy on reserves

The trust is operated as a grant giving charity and the trustees’ policy is to seek to distribute or commit the income arising in each financial year. At the end of the reporting period the charity had free reserves amounting to £9,607 (2021: £6,846).

In addition to the free reserves the charity has bank balances of £70,513 (2021: £51,078) and investment assets of £835,168 within the expendable endowment fund.

Given the availability of the expendable endowment fund the trustees do not consider that the charity needs to maintain any significant free reserves although they recognise that such reserves will arise from time to time.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

There are no restrictions on the charity’s power to invest. The investment strategy is agreed between the trustees and the investment managers and is regularly reviewed. This is the subject of a policy statement which has been completed by the trustees and forms an integral part of the agreement with the investment manager to provide investment management services.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s) David Breach on behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, Trustee etc) Date 22 June 2023

TAR

5

Charity Name
The Adlard Family Charitable Foundation		 Charity Name
The Adlard Family Charitable Foundation		 Charity Name
The Adlard Family Charitable Foundation		 No (if any)
1164276		 No (if any)
1164276		 No (if any)
1164276		 CC16a
For the period
from		 Period start date
10 September 2021		 To Period end date
09 September 2022
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
-
-
14,276
121
-
-
-
-
14,397
-
405
405
14,802
58,000
-
780
10,661
-
-
-
-
-
69,441
-
-
-
69,441
(54,639)
57,400
6,846
9,607		 Restricted funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
21,401
-
-
-
-
-
-
-
21,401
685,533
5,430
690,963
712,364
-
4,406
-
-
-
-
-
-
-
4,406
631,123
-
631,123
635,529
76,835
(57,400)
51,078
70,513		 Total funds
to the nearest £
21,401
-
14,276
121
-
-
-
-
35,798
685,533
5,835
691,368
727,166
58,000
4,406
780
10,661
-
-
-
-
-
73,847
631,123
-
631,123
704,970
22,196		 Last year
to the nearest £
Donations to trust - 27,014
Gift aid received - -
Income from investments 14,276 14,811
Income from bank interest 121 85
- -
- -
- -
- -
Sub total(Gross income for
AR)		 14,397 41,910
A2 Asset and investment sales,
(see table).
Sale of investments - 694,291
Foreign currencyexchange rategain 405 -
Sub total 405 694,291
Total receipts
A3 Payments
736,201
Grants awarded 58,000 61,000
Inv mgmt and admin - 11,277
Independent examiner 780 780
Administrative services 10,661 -
- -
- -
- -
- -
- -
**Sub total ** 69,441 73,057
A4 Asset and investment
purchases, (see table)
Investmentpurchases - 689,885
Foreign currencyexchange rate loss - 2,322
**Sub total ** - 692,207
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
**Cash funds this year end **
765,264
(54,639) - 76,835 22,196 (29,063)
57,400 - (57,400) - -
6,846 - 51,078 57,924 86,987
9,607 - 70,513 80,120 57,924

CCXX R6 accounts (SS)

6

Section B Statement of assets and liabilities at the end of the period Section B Statement of assets and liabilities at the end of the period 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
B2 Other monetary assets
B3 Investment assets
B4 Assets retained for the
charity’s own use
B5 Liabilities		 (agree balances with receipts and payments
account(s))
Details
Capital account
US$ Reserve accoun
Total cash funds
US$ Income account
Reserve accoun
Income account
US$ Capital account
Details
Details
Investment portfolio
Details
Details
Inv mgmt
Independent examiner
Administrative services
Signature		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
7,079
-
-
-
-
-
2,528
-
-
9,607
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
Endowment
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
Endowment
782
Unrestricted
780
Unrestricted
1,436
-
-
Print Name
David Breach
on behaf of Ludlow Trust Company
Limited		 Endowment
funds
to nearest £
27,603
-
-
-
42,910
-
-
70,513
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
835,168
-
-
-
-
Current value
(optional)
-
-
-
-
-
When due
(optional)
Date of
approval
22 June 2023

CCXX R7 accounts (SS)

7

Section C Notes to the Accounts

C1 Nature and purpose of funds (may be Expendable endowment funds are those which are required to be invested to produce income but which may be stated on analysis of funds worksheets) 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.

C2 Grants to institutions
C3 Related party transactions		 Recipient
One and UK unless detailed
Disability Arts Shropshire
Disasters Emergency Committee
Greenpeace Environmental Trust
Hope not Hate
Lakes Art Festivals
Mondui Green
Pentabus
RNLI
RSPB
The Hive
Thought Bubble
Wales Air Ambulance Service		 £
5,000
3,000
10,000
10,000
5,000
1,000
1,000
2,000
10,000
5,000
5,000
1,000
58,000
No trustee received any remuneration nor reimbiursed any expenses in the year under review.
During the year under review Ludlow Trust Company Limited, a trustee of the charity, was paid fees for the
provision of administration services amounting to £10,661 as authorised under clause 6 of the trust deed whilst
being a trustee.

CCXX R8 accounts (SS)

8

Independent Examiner's Report to the Trustees of The Adlard Family Charitable Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 9 September 2022 as set out on pages 6 to 8.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

22 June 2023

Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY

9