## **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**
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4
5
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8
9
10
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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||||
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**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
- (eg. trust deed, constitution)
How the charity is constituted
Trust
- (eg. trust, association, company)
Appointment by existing trustees Trustee selection methods
- (eg. appointed by, elected by)
## **Additional governance issues (Optional information)**
You **may choose** to include additional information, where relevant, about:
- policies and procedures adopted for the induction and training of trustees;
- the charity’s organisational structure and any wider network with which the charity works;
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.
- relationship with any related parties;
- trustees’ consideration of major risks and the system and procedures to manage them.
## **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.
- policy on grantmaking;
- policy programme related investment;
- contribution made by volunteers.
**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:
- the charity’s principal sources of funds (including any fundraising);
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.
- how expenditure has supported the key objectives of the charity;
- investment policy and objectives including any ethical investment policy adopted.
## **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