1. Tear the bread into small pieces, soak in water for a few minutes, then squeeze out.
2. Roughly chop the tomatoes; peel the cucumber, seed the pepper and chop both; peel the onion and garlic.
3. Put all the vegetables in a blender with the bread, sherry vinegar and a little salt and blend for 2-3 minutes until completely smooth.
4. With the motor running, drizzle in the olive oil in a thin stream until the soup is creamy and pale orange; if it's too thick, thin it with the cold water.
5. Push through a sieve, taste, adjust with salt and vinegar and chill for at least 2 hours.
6. Serve well chilled in glasses or bowls, topped with finely diced cucumber, pepper and croutons.
Tip: It only works with very ripe summer tomatoes: the flavour of gazpacho comes almost entirely from the tomatoes.
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