2022-02-16-accounts - The Aitken Family Charitable Trust

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

Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year From 17 February 2021 To 16 February 2022

Section A Reference and administration details

Charity name The Aitken Family Charitable Trust

Other names charity is known by

Registered charity number (if any) 1168153

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

Trustee name	Office (if any)	Dates acted if not for whole year
Peter J Aitken	(Settlor)
Jane K Aitken	(Settlor)
Katherine G Aitken
Anna J Aitken
Alexandra R Aitken
LucyA Aitken
Coutts & Co		To 5 July2021
Ludlow Trust CompanyLimited		From 5 July 2021

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

Name Dates acted if not for whole year

Names and addresses of advisers (Optional information)

TAR

March 2012

Type of adviser Name Address	Type of adviser Name Address	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 Redcliff Street, Bristol BS1 6TP
Independent examiner	Geoffrey 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

Trust deed dated 16 February 2016 Type of governing document

(eg. trust deed, constitution)

How the charity is constituted

Trust

(eg. trust, association, company)

Trustees are appointed the settlors during their lifetime and subject to this Trustee selection methods by the trustees from time to time. (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;
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

The Trustees shall hold the capital and income of the Trust Fund upon trust to apply the income, and all or such part or parts of the capital, at such time or times and in such manner to, or for the benefit of such exclusively charitable objects and purposes in any part of the world as the Trustees may in their discretion think fit.

TAR

March 2012

In furtherance of the charity’s objects for the public benefit the trustees shall provide grants. In determining the charity’s activities 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)

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

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

TAR

March 2012

Section D Achievements and performance

Summary of the main During the year under review the charity made 4 grants totalling achievements of the charity £170,000 as set out in the notes to the accounts. during the year

TAR

March 2012

Section E Financial review

Brief statement of the

charity’s policy on reserves

At the end of the reporting period the charity had free reserves amounting to £23,295 (2021: £661).

In addition to the free reserves the charity has cash balances of £325,468 (2021: £267,394) and investments with a value of £2,793,330 within the expendable endowment fund which can be released to support the activities of the charity.

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.

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);
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)[Joanne Spiceley ] On behalf of Ludlow Trust Company Limited

Position (eg Secretary, Chair, etc)

Date 08 December 2022

TAR

March 2012

	Charity Name The Aitken Family Charitable Trust	Charity Name The Aitken Family Charitable Trust	Charity Name The Aitken Family Charitable Trust	No (if any) 1168153	CC16a
	For the period from	Period start date 17 February2021	To	Period end date 16 February2022

Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £ - - 38,284 32 - - - - 38,316 - - - 38,316 170,000 - 1,620 9,521 - - - - - - 181,141 - - - 181,141 (142,825) 165,459 661 23,295	Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Endowment funds to the nearest £ 200,000 - - - - - - - 200,000 2,070,105 - 2,070,105 2,270,105 - 21,538 - - - - - - - - 21,538 2,025,034 - 2,025,034 2,046,572 223,533 (165,459) 267,394 325,468	Total funds to the nearest £ 200,000 - 38,284 32 - - - - 238,316 2,070,105 - 2,070,105 2,308,421 170,000 21,538 1,620 9,521 - - - - - - 202,679 2,025,034 - 2,025,034 2,227,713 80,708	Last year to the nearest £
Donations	-				300,000
Gift aid	-				200,000
Income from investments	38,284				38,934
Income from bank interest	32				429
	-				-
	-				-
	-				-
	-				-
*Sub total*(Gross income for AR)	38,316				539,363

A2 Asset and investment sales, (see table).
Sale of investments	-				1,472,443
	-				-
*Sub total*	-				1,472,443
*Total receipts* A3 Payments
					2,011,806

Grants awarded	170,000				880,000
Investment and administration fees	-				27,815
Independent examination	1,620				780
Administrative services	9,521				-
Legal fees	-				300
	-				-
	-				-
	-				-
	-				-
	-				-
**Sub total **	181,141				908,895

A4 Asset and investment purchases, (see table)
Investmentpurchases	-				1,454,030
	-
**Sub total **	-				1,454,030
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					2,362,925

	(142,825)	-	223,533	80,708	(351,119)
	165,459	-	(165,459)	-	-
	661	-	267,394	268,055	619,174
	23,295	-	325,468	348,763	268,055

CCXX R6 accounts (SS)

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 Reserve account Income account *Total cash funds* Details Details Investment portfolio Details Details Investment management fees Independent examiner Administrative services Signature	Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - 23,295 - 23,295 - 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 1,763 Unrestricted 780 Unrestricted 2,520 - - Print Name Joanne Spiceley On behalf of Ludlow Trust Company Limited	Endowment funds to nearest £ 325,468 - - 325,468 OK Endowment funds to nearest £ - - - - Current value (optional) 2,793,330 - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval 08 December 2022

CCXX R7 accounts (SS)

Section C Notes to the Accounts

Section C Notes to the	Accounts	Accounts
C2 Grants to institutions C3 Related party transactions C1 Nature and purpose of funds(may be stated on analysis of funds worksheets)	Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charityand which have not been designated for otherpurposes. Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity's objectives.
	Recipient - 1 grant unless annotated CW+ (Chelsea and Westminster Hospital) First Story St Pauls Girls School Bursary Fund The Black Curriculum	£ 100,000 15,000 50,000 5,000
		170,000

	During the period under review Coutts & Co, a trustee of the charity until July 2021, were paid fees for the provision of administration and investment management services amounting to £14,726 whilst a trustee. Ludlow Trust Company Limited was appointed trustee in July 2021 and was paid £9,521 for administrative services between appointement and the reporting date. These fees are authorised under clause 6 of the trust deed. No trustee received any remuneration nor reimbiursed any expenses in the year under review.

CCXX R8 accounts (SS)

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

I report to the charity trustees on my examination of the accounts of the charity for the year ended 16 February 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:

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.

09 December 2022

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