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2023-02-20-accounts

The Aqueduct Charitable Trust The Aqueduct Charitable Trust The Aqueduct Charitable Trust 1179272 1179272 CC16a
For the period
from		 Period start date
21.02.2022		 To Period end date
20.02.2023
Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest £
25,136
32
-
-
-
-
-
-


25,167
-
-
-
25,167
-
-
-
-
-
-
-
-
-
-
-
6,000
6,000
6,000
19,167
- 20,391
15,914
14,690		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
470
-
-
-
-
-
-
470
933,748
-
933,748
934,218
67,500
6,122
10,980
780
1,200
-
-
-
86,582
855,624
44,000
899,624
986,206
- 51,988
20,391
71,029
39,432		 Total funds
to the nearest £
25,136
502
-
-
-
-
-
-
25,637
933,748
-
933,748
959,385
67,500
6,122
10,980
780
1,200
-
-
-
86,582
855,624
50,000
905,624
992,206
- 32,821
-
86,942
54,121		 Last year
to the nearest £
Income from investments 25,136 22,518
Interest received 32 19
- -
- -
- -
- -
- -
- -
Sub total(Gross income for
AR)

25,167		 22,537
A2 Asset and investment sales,
(see table).
Sale of investments - 1,040,492
- -
Sub total - 1,040,492
Total receipts
A3 Payments
1,063,029
Grants awarded - 57,500
Investment management fees (VAT
inclusive)		 - 13,631
Trust administration fees (VAT inclusive) - 5,972
Independent Examiners fees - 780
Legal fees - -
- -
- -
- -
- -
**Sub total ** - 77,883
A4 Asset and investment
purchases, (see table)
Investmentpurchases - 867,894
Investment in Fortitude FosteringCIC 6,000 100,000
**Sub total ** 6,000 967,894
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
1,045,777
19,167 - - 51,988 - 32,821 17,252
- 20,391 20,391 - -
15,914 71,029 86,942 69,690
14,690 - 39,432 54,121 86,942

CCXX R1 accounts (SS)

20/12/2023

1

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
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use
B1 Cash funds		 Details
Investment portfolio
Fortitude Fostering CIC
Details
Total cash funds
(agree balances with receipts and payments
account(s))
Capital account
Income account
Details
Details
Details
Signature		 Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
14,690
-
-
-
14,690
-
OK
OK
Unrestricted
funds
Restricted
funds
to nearest £
to nearest £
-
-
-
-
-
-
-
-
-
-
-
-
Fund to which
asset belongs
Cost (optional)
Endowment
-
Endowment
-
-
-
-
Fund to which
asset belongs
Cost (optional)
-
-
-
-
-
-
-
-
-
Fund to which
liability relates
Amount due
(optional)
-
-
-
-
Print Name
Chris Thurlow on behalf of Ludlow
Trust CompanyLimited		 Endowment
funds
to nearest £
39,432
-
-
39,432
OK
Endowment
funds
to nearest £
-
-
-
-
-
-
Current value
(optional)
1,203,703
150,000
-
-
-
Current value
(optional)
-
-
-
-
-
-
-
-
-
When due
(optional)
Date of
approval
Chris Thurlow on behalf of Ludlow
Trust CompanyLimited

CCXX R2 accounts (SS)

20/12/2023

2

Trustees’ Annual Report for the period

From 21 February 2022 To 20 February 2023

Charity name: The Aqueduct Charitable Trust Charity registration number: 1179272

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 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.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 In furtherance of the charity’s objects for the
public benefit the trustees shall provide
grants.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 In determining the charity’s activities, the
trustees have had regard to the Charity
Commission’s guidance on public benefit.
Additional information (optional)
Youmay choose toincludefurtherstatementswhererelevant about:		 Additional information (optional)
Youmay choose toincludefurtherstatementswhererelevant about:		 Additional information (optional)
Youmay choose toincludefurtherstatementswhererelevant about:
SORP reference
Policy on grant making Para 1.38
Policy on social investment
including program related
investment		 Para 1.38
Contribution made by
volunteers		 Para 1.38
Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 During the year under review the charity
made grants to two charities totalling
£67,500. In addition the trust invested
£50,000 into share capital of a Community
Interest Company.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41
Other

Financial Review

Review of the charity’s
financial position at the end
of the period		 Para 1.21 At the end of the reporting period the charity
had free reserves of £14,690 (2022:
£15,914).
In addition to the free reserves the charity
has bank balances of £39,432 (2022:
£42,375) and investments within a portfolio
valued
at
£1,203,703
and
a
direct
investment
in
a
community
interest
company of £150,000 within the expendable
endowment fund.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 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.
Amount of reserves held Para 1.22
Reasons for holding zero
reserves		 Para 1.22
Details of fund materially in
deficit		 Para 1.24
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23

Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising) Para 1.47 Investment policy and objectives including any social investment policy adopted

Para 1.46 A description of the principal risks facing the charity Para 1.46 Expendable endowment funds are those which are required to be invested to produce Other 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. 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.

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
(trust deed, royal charter)		 Para 1.25 Trust deed dated 20 February 2018
How is the charity
constituted?
(e.g unincorporated
association, CIO)		 Para 1.25 Trust
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or bodyentitled		 Para 1.25 Trustees are appointed by the settlor
during his lifetime and subject to this by the
trustees from time to time.
to appoint one or more
trustees
Additional information (optional)
You may choose to include further statements where relevant about:
Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any related
parties		 Para 1.51 No trustee received any remuneration or
was reimbursed any expenses in the year
under review.
Ludlow Trust Company Limited was paid
£10,980 for trust administration services
during the year under review. These fees
are authorized under clause 6 of the trust
deed.
Other

Reference and Administrative details

Charity name The Aqueduct Charitable Trust
Other name the charity uses
Registered charity number 1179272
Charity’s principal address Trustees Department
1stFloor, Tower Wharf
Cheese Lane, Bristol
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
Julia Anne
Bridgewater
Ludlow Trust
CompanyLimited

19 20

– Corporate trustees names of the directors at the date the report was approved Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

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
Accountants KJF Accounting Limited 17 Sheringham Avenue, Southgate,
London, N14 4UB

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

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 Position (eg Secretary, Chair, etc) Date

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of The Aqueduct Charitable Trust On accounts for the year ended 20 February 2023 Charity no (if any) 1179272 Set out on pages 1 to2 I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 20th February 2023. Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the acc£)unts in accordance with the requirements of the Charities Act 2011 {"the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed the applicable Directions given by the Charity Commission under section 145151{b) of the Act. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect-. accounting records were not kept in accordan￿ with section 130 of the Act or the accounts do not accord with the a¢counting records Independent examiner's statement I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts lo be reached. Signed: Date: 10 -12-&02 Name: Mr Keilh Felton Relevant professional qualificationlsl or body (if any): ACCA Address: KJF Accounting Ltd, 17 Sheringham Avenue, Southgate, London N14 4UB Section B Disclosure Only complete ifthe examiner needs to highlight matters of Goncem (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). IER October 2018

Give Iwe brief details of any items that the examiner wishas to disclose. IER October 2018