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Trustees' Annual Report for the period
Period start date Period end date Day Month Year Day Month Year From 21 February 2020 To 20 February 2021
Section A Reference and administration details
Charity name The Aqueduct Charitable Trust
Other names charity is known by Registered charity number (if any) 1179272
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 |
Trustee name | Office (if any) | Dates acted if not for whole **year ** |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Paul Charles Bridgewater |
(Settlor) | |||
| Julia Anne Bridgewater |
||||
| Coutts & Co | To 05 July2021 | |||
| Ludlow Trust CompanyLimited |
From 05 July 2021 | |||
Names of the trustees for the charity, if any, (for example, any custodian trustees)
Name Dates acted if not for whole year
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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 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 20 February 2018 Type of governing document
- (eg. trust deed, constitution)
Trust How the charity is constituted
- (eg. trust, association, company)
Trustees are appointed by the settlor during his 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:
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policies and procedures adopted for the induction and training of trustees;
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the charity’s organisational structure and any wider network with which the charity works;
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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 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.
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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:
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policy on grantmaking;
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policy programme related investment;
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contribution made by volunteers.
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Section D Achievements and performance
Summary of the main During the year under review the charity made 2 grants totalling £60,000 achievements of the charity as set out in the notes to the accounts. during the year
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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 £11,120 (2020: £3,094).
In addition to the free reserves the charity has cash balances of £58,570 (2020: £119,655) and investments with a value of £1,498,340 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:
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the charity’s principal sources of funds (including any fundraising);
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how expenditure has supported the key objectives of the charity;
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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)[James Sansum ] On behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc)
Date 09 December 2021
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Charity Name No (if any) The Aqueduct Charitable Trust 1179272 Receipts and payments accounts CC16a For the period Period start date Period end date To from 21 February 2020 20 February 2021
| Section A Receipts and payments | Section A Receipts and payments | |||||
|---|---|---|---|---|---|---|
| A1 Receipts | Unrestricted funds to the nearest £ - 26,466 147 - - - - - 26,613 - - - 26,613 60,000 - 780 - - - - - - - 60,780 - - - 60,780 (34,167) 42,193 3,094 11,120 |
Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Endowment funds to the nearest £ - - - - - - - - - 914,910 - 914,910 914,910 - 19,008 - - - - - - - - 19,008 914,794 - 914,794 933,802 (18,892) (42,193) 119,655 58,570 |
Total funds to the nearest £ - 26,466 147 - - - - - 26,613 914,910 - 914,910 941,523 60,000 19,008 780 - - - - - - - 79,788 914,794 - 914,794 994,582 (53,059) |
Last year to the nearest £ |
|
| Donations | - | - | ||||
| Income from investments | 26,466 | 29,048 | ||||
| Income from bank interest | 147 | 793 | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| Sub total(Gross income for AR) |
26,613 | 29,841 | ||||
| A2 Asset and investment sales, (see table). |
||||||
| Sale of investments | - | 906,121 | ||||
| - | - | |||||
| Sub total | - | 906,121 | ||||
| Total receipts A3 Payments |
||||||
| 935,962 | ||||||
| Grants awarded | 60,000 | 35,000 | ||||
| Investment and administration fees | - | 19,158 | ||||
| Independent examination | 780 | - | ||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| - | - | |||||
| **Sub total ** | 60,780 | 54,158 | ||||
| A4 Asset and investment purchases, (see table) |
||||||
| Investmentpurchases | - | 961,184 | ||||
| - | ||||||
| **Sub total ** | - | 961,184 | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
||||||
| 1,015,342 | ||||||
| (34,167) | - | (18,892) | (53,059) | (79,380) | ||
| 42,193 | - | (42,193) | - | - | ||
| 3,094 | - | 119,655 | 122,749 | 202,129 | ||
| 11,120 | - | 58,570 | 69,690 | 122,749 |
CCXX R6 accounts (SS)
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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 B5 Liabilities B4 Assets retained for the charity’s own use B3 Investment assets B2 Other monetary assets B1 Cash funds |
Signature Investment and administration fees Independent examiner Details Details Details Investment portfolio Details (agree balances with receipts and payments account(s)) Details Capital account Reserve account Income account Total cash funds |
Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - 11,120 - 11,120 - 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 2,764 Unrestricted 780 - - Print Name James Sansum On behaf of Ludlow Trust Company Limited |
Endowment funds to nearest £ 9,983 48,587 - 58,570 OK Endowment funds to nearest £ - - - - Current value (optional) 1,498,340 - - - Current value (optional) - - - - - - - - - When due (optional) Date of approval 09 December 2021 |
|---|---|---|---|
| Date of approval |
|||
| James Sansum On behaf of Ludlow Trust Company Limited |
09 December |
CCXX R7 accounts (SS)
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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 Fortitude Fostering CIC Worthing Womens Aid |
£ 50,000 10,000 |
|
| 60,000 | ||
| During the period under review Coutts & Co, a trustee of the charity, were paid fees for the provision of administration and investment management services amounting to £19,008 (2020: £19,158) as 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)
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Independent Examiner's Report to the Trustees of The Aqueduct Charitable Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 20 February 2021 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.
10 December 2021
Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
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