2022-02-20-accounts - The Aqueduct Charitable Trust

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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 2021 To 20 February 2022

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

Trustee name	Office (if any)	Dates acted if not for whole year
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

TAR

March 2012

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:

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 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 6 grants payments achievements of the charity totalling £57,500 as set out in the notes to the accounts. In addition the during the year trust invested £100,000 into share capital of a Community Interest Company.

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 £15,914 (2021: £11,120).

In addition to the free reserves the charity has cash balances of £71,028 (2021: £58,570) and investments with a value of £1,345,537 and cost of £100,000 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)[Chris Thurlow ] On behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc)

Date 16/12/2022

TAR

March 2012

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 2021 20 February 2022

Section A Receipts and payments	Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £ - 22,518 19 - - - - - 22,537 - - - 22,537 57,500 - 780 5,972 - - - - - - 64,252 - - - 64,252 (41,715) 46,509 11,120 15,914	Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Endowment funds to the nearest £ - - - - - - - - - 1,040,492 - 1,040,492 1,040,492 - 13,631 - - - - - - - - 13,631 867,894 100,000 967,894 981,525 58,967 (46,509) 58,570 71,028	Total funds to the nearest £ - 22,518 19 - - - - - 22,537 1,040,492 - 1,040,492 1,063,029 57,500 13,631 780 5,972 - - - - - - 77,883 867,894 100,000 967,894 1,045,777 17,252	Last year to the nearest £
Donations	-				-
Income from investments	22,518				26,466
Income from bank interest	19				147
	-				-
	-				-
	-				-
	-				-
	-				-
*Sub total*(Gross income for AR)	22,537				26,613

A2 Asset and investment sales, (see table).
Sale of investments	-				914,910
	-				-
*Sub total*	-				914,910
*Total receipts* A3 Payments
					941,523

Grants awarded	57,500				60,000
Investment and administration fees	-				19,008
Independent examination	780				780
Administrative services	5,972				-
	-				-
	-				-
	-				-
	-				-
	-				-
	-				-
**Sub total **	64,252				79,788

A4 Asset and investment purchases, (see table)
Investmentpurchases	-				914,794
Investment in Fortitude Fostering	-
**Sub total **	-				914,794
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					994,582

	(41,715)	-	58,967	17,252	(53,059)
	46,509	-	(46,509)	-	-
	11,120	-	58,570	69,690	122,749
	15,914	-	71,028	86,942	69,690

CCXX R6 accounts (SS)

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 Reserve account Income account *Total cash funds* Details Details Investment portfolio Fortitude Fostering CIC Details Details Investment and administration fees Independent examination Administrative services Signature	Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - 15,914 - 15,914 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - Endowment 100,000 - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) Endowment 954 Unrestricted 780 Unrestricted 1,718 - - Print Name Chris Thurlow On behaf of Ludlow Trust Company Limited	Endowment funds to nearest £
			71,028
			-
			-
			71,028
			OK
			Endowment funds to nearest £
			-
			-
			-
			-
			Current value (optional)
			1,345,537
			-
			-
			-
			Current value (optional)
			-
			-
			-
			-
			-
			-
			-
			-
			-
			When due (optional)






			Date of approval
			16/12/2022

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 Fortitude Fostering CIC	£ 57,500
		57,500

	During the period under review Coutts & Co, a trustee of the charity to July 2021, were paid fees for the provision of administration and investment management services amounting to £9,986 whilst a trustee. Ludlow Trust Company Limited was appointed trustee in July 2021 and was paid fees totalling £5,972 between appointment 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 Aqueduct Charitable Trust

I report to the charity trustees on my examination of the accounts of the charity for the year ended 20 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.

Geoffrey Frost BSc(Hons) FCA Date 20/12/2022 Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY