Company registration number 921566 IEngland and Wales)
Charity registration nurnber 255249 {England and Wales)
BRITAIN-NEPAL MEDICAL TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

BRITAIN-NEPAL MEDICAL TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
Dr G M C Holdsworth
Dr R P Dhital
Mr J W Mecaskey
DrJMVPayne
DrA Ramsay
Dr R Fryatt
Mrs JE Beglin
IAppointed 25 March 20251
Secretsry
Dr M Maidrag
Charlty number
255249
Company number
921566
Principal address
Lonsdale Gale, Lonsdale Gardens
Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU
Roglster&d offl¢g
Lonsdale Gale, Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU
Indèpendont oxamln&r
J P van der MenNeACA
Foot Davson Ltd
Lonsdale Gale, Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU

BRITAIN-NEPAL MEDICAL TRUST
CONTENTS
Page
Trustees, report
Statement of Iruslees. responsibilities
Independent examiner's report
Statement of financial activities
Summary income and expenditu￿ account
Balance sheet
Notes lo the financial statements
8-16

BRITAIN-NEPAL MEDICAL TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial slalements have been prepared in accordance with the accounting policies sel out in note 1 to the
financial slalements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting
and Reporting by Charities. Statement of Recommended Practice applicable to charities pieparing their accounts
in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021"
Objectives and activities
The charitsble purpose of the Brilain-Nepal Medi¢al Trust IBNMTI is lo improve the health and livelihoods of
marginalised and conflict-affeded communities, partiCLJlarly those living in remote and rural areas of Nepal.
We pursue this aim goal in partnership with Biral-Nepal Medical Trust IBNMT Nepall, an independent local NGO
established lo advance BNMT'S charrf(able purpose in Nepal. Together, we work to strengthen local partners-
including community groups, NGOS and health wotkers-empower communities to secure better access to
quality health services, and advocate for those whose needs are not adequately mel. We also support
innovation, generate evidence and promote the adoption and mainstreaming of interventions that have
demonslraled their effectiveness.
In detemiining the activities undertaken by the charity, the Trustees have had due regard lo the guidance issued
by the Charity Commission on public benefit.
Achlevements and p&rfomian¢e
BNMT'S support for national health efforts in Nepal is delivered exclusively through BNMT Nepal. Our work is
organi5ed around six Inlerconnecled priorities. accelerating the elimination of infectious diseases, generating and
mobilising evidence lo Inform policy," improving mental health and rèducing stigma", strengthening emergency
preparedness and response., strengthening health systems", and building resilient and prosperous communities in
a changing climate.
BNMT provides both financial and technical support to BNMT Nepal as part of our long-term commitment to
sustainable, locally led impact. This partnership reflects our belief that lasting improvements in health are best
achieved by strengthening Nepal's own inslitulions, communities and capacity lo identify and address their health
priorities.
BNMT also works dosely wlh other UK-based organisalions committed to the health and wellbeing of the Nepali
people. Together, we advocate for continued UK Government engagement with and support for Nepal in
improving the health and wellbeing of ils population.
This role has become increasingly important in the context of substantial recent reductions in global development
assistan￿, including reductions in UK development funding. At a time of growing financial pressure, BNMT
remains committed to sustaining effective partnerships, slrenglhening locally led solutions and ensuring that
progress in the health of Nepal's most disadvantaged communities is not lost.
Financial review
Unrestricted funds showed a deficit for the year of £109,02512024". £34,061), and an increase in the value of the
investments of £7,861 12024.. £1,165). This gives an overall decrease in unreslricled funds of £101,16412024'.
£32,896), leaving a balance of £156,05612024'. £257,220).
Restricted funds showed an increase of £2,064 12024.. £551, leaving a restricted balance of £6,044 12024..
£3,980) lo be used in later periods.
The Directors aim to hold unrestricted reserves of be￿en 3 and 6 months annual income as working capital.
Investments held are medium term and are reviewed two limes each year. The Trustees have ethical
considerations when making decisions to ensure particularly that healthcare considerations are not
compromised. Cash deposf(s are held at best interest rates commensurate with accessibility for cash flow
purposes.

BRITAIN-NEPAL MEDICAL TRUST
TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees have assessed the major risks lo which the charity is exposed, and are satisfied that systems are in
place to mitigate exposure lo the major risks.
The Directors have a risk management strategy which comprises the maintenance of a detailed risk register
which is reviewed annually. Interim reviews have also been carried out lo assess and adjust policies as
necessary lo lake account of changing security concerns in Nepal and variations to emergency procedures.
structure. governance and management
The ¢harily was estsblished as a charitable company limited by guarantee on 7th November 1967 (company
number 9215661. The company is registered with the Charity Commission Icharity number 2552491.
The Board of Trustees meets in the UK. The Charity's programme of activities is carried out in Nepal by BNMT
Nepal, a not for profit organisation, registered in Nepal. It employs staff and works with partners lo deliver the
Charity's objectives.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up
to the date of signature of the financial statements were..
Dr G M C Holdsworth
Dr R P Dhital
Mr J W Mecaskey
DrJMVPayne
DrA Ramsay
Dr R Fryatt
Mrs S Barton
Mrs JE Beglin
(Resigned 22 July 20261
IAppoinled 25 March 20251
New candidates for the Board are proposed by existing Trustees. Candidates receive written advice on the roles
and responsibilities of Trustees and are Invited lo attend a Board meeting. Thereafter the Chair of the Board and
the candidate exchange views and if appropriate the Incoming Trustee 15 proposed, seconded and elected al the
next Board meeting.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company
and guarantee lo contribute £1 in the event of a winding up.
The Board of Trustees is the final decision-making body. The Board is advised by a Finance & General Purposes
Committee, composed ofTruslees, the Country Director, the Company Secretary and Financial Adviser.
The trustees, report was approved by the Board of Trustees.
MrJ W Mg¢a$kgy
Trustee
Dated.. 19 August 2026

BRITAIN-NEPAL MEDICAL TRUST
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees, who are also the directors of Brilain-Nepal Medical Trust for the purpose of cornpany law, are
responsible for preparing the Trustees, Report and the financial slalements In accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel.
Company law requires the trustees lo prepare financial statements for each financial year which give a true and fair
view of the slate of affairs of the Charity and of the incoming resources and application of resources, Induding the
income and expenditure, of the ¢haritsble company for that year.
In preparing these financial stalemenls, the trustees are reqUI￿d lo".
select suitable accounting policies and then apply them ¢onsistenlly',
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in the financial statements,. and
prepare the financial slalements on the going concern basis unless il is inappropriate lo presume that the charity
will continue in operation.
The trustees are responsible for keeping adequate accounting records that disdose wth reasonable accuracy at
any lime the financial position of the charity and enable them lo ensure that the financial slalements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.

BRITAIN-NEPAL MEDICAL TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BRITAIN-NEPAL MEDICAL TRUST
I report lo the Iruslees on my examination of the finanaal statements of Britain-Nepal Medical Trust Ithe charilyl for
thè year ended 31 December 2025.
Responsibilities and basis of report
As the trustees of the charity land also ils directors for the purposes of company lawl, you are responsible for the
preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial slalements of the charity are not required lo be audited under Part 16 of
the Companies Act 2006 and are eligible for independent examination. I report in respect of my examination of the
charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying OLJt my examination
I have followed the Directions given by the Charity Commission under section 14515llbl of the CharitiesAct 2011.
Independent examln&rfs statement
I have completed my examination. I confirm that no matters have come lo my attention in connection with the
examination giving me cause lo believe that In any material respect".
accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act
2006.
the financial statements do not accord with those records., or
the financial statements do not comply with the accounting requirements of section 398 of the Companies Act
2006 other than any requirement that the financial slalements give a true and fair view, which is not a matter
considered as part of an independent examination.. or
the financial statements have not been prepared in accordance wth the methods and principles of the
Statement of Recommended Practi￿ for accounting and reporting by charities applicable lo charities
preparing their financial slalemenls In accordance wth the Financial Reporting Standard applicable In the UK
and Republic of Ireland IFRS 1021.
I have no concems and have come across no other matters in connection with the examination lo which attention
should be drawn in this report in order lo enable a proper understanding of the financial slalements lo be reached.
Merwe ACA
For and on behalf of
Lonsdale Gale
Lonsdale Gaidens
Tunbridge Wells
Kent
TN1 1NU
Foot Davson Ltd
Chartered Accounlanls
Dated. 20 August 2026

BRITAIN-NEPAL MEDICAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
Unrestricted Restricted
fund$
funds
Total
2025
Total
2024
Notes
Income from:
Donations and legacies
Investments
Other income
81,885
1,170
11,788
5,799
87,684
1,170
11,788
60,779
2,139
25
Total income
94,843
5,799
100,642
62,943
Ex
enditure on:
Raising funds
19,523
19,523
11.034
Charitable activities
184.345
3,735
188,080
85,915
Total expendlture
203,868
3,735
207,603
96,949
1109,0251
2,064
1106,9611
134,0061
Net Ilossesll gains on investrnenls
10
7,861
7,861
1,165
Net movement in funds
1101,1641
2,064
199,1001
132,8411
Fund balances at 1 January 2025
257,220
3,980
261,200
294,041
Fund balances at 31 December 2025
156,056
6,044
162,100
261.200
The statement of financial activities indudes all gains and losses recognised in the year.
The statement of financial a¢tivilies includes all gains and losses recognised in the year. All income and
expenditure derive from continuing activities.
The slalement of financial activities also complies ¥Mth the requirements for an income and expenditure account
under the Companies Ad 2006.

BRITAIN-NEPAL MEDICAL TRUST
SUMMARY INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
All income funds
2025
2024
Gross income
Gains on Investments
100,642
7,861
62,943
1,165
Total income in the reporting period
108,503
64,108
Total expenditure from income ftjnds
207,603
96,949
Net expendlture for the year
199,1001
132,8411

BRITAIN-NEPAL MEDICAL TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2025
2025
2024
Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
Investments
Cash at bank and in hand
13
15,820
99,720
51,695
1,844
102,972
161,393
167,235
266,209
Credltors: amounts falllng due wlthln
one year
14
15,1361
15,0101
Net current assets
162,099
261,199
Total assets less current liabilities
162,100
261,200
The funds ofthe charity
Restricted income funds
Unrestricted funds
17
16
3,980
257,220
156,056
162,100
261,200
The charitable company is ents.ued lo the exemption from the audit requirement contsined in section 477 of the
Companies Act 2006, for the year ended 31 De￿M￿r 2025.
The direclorsllruslees acknowledge their responsibilities for complying wth the requirements of the Companies Act
2006 with respect lo accounting recoids and the pieparation of financial slatemenls.
The members have not required the company lo obtain an audit of ils financial statements for the year in question in
accordance with secbon 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regimè.
The financial statements were approved by the Iruslees on 19 August 2026
I IPr-
Mr J W Mecaskey
Trustee
Mrs JE Beglin
Trustee

BRITAIN-NEPAL MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting policies
Company information
Brilain-Nepal Medical Trust was established as a charitable company limited by guarantee on 7th November
1967 (company number 9215661. The company is registered with the Charity Commission Icharity number
2552491.
1.1 Accountlng conventlon
The finanaal statements have been prepared in accordance with the charity's governing document, the
Companies Act 2006, FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of
Ireland" I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance wf(h the Financial
Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. The
charity is a Public Benefit Enlily as defined by FRS 102.
The Charity has taken advantsge of the provisions in the SORP for charities not to prepare a Statement of
Cash Flows.
The financial slalements are prepared in slerfing, which is the functional currency of the charity. Monetsry
amounts in these financial ststemenls are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expedation that the charity
has adequate reSoUr￿S to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Reslricled funds are subject lo specrfic conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes lo the financial slalements.
1.4 Income
Income is recognised when the charity is legally entitled lo il after any performance conditions have been met,
the amounts can be measured reliably, and il is probable that Income will be received.
Cash donations are recognised on receipt. Other donations are recognised On￿ the Charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwse if the charity has been notified of an Impending distribution,
the amount 15 known, and receipt 15 expected. If the amount is not known, the legacy Is treated a5 a
conlingenl asset.
1.5 Expèndituro and irrecovarabla VAT
Expenditure is recognised as soon as there is a legal or conslruclive obligation committing the charity to that
expenditure, it is probable that settlement wll be required and the amount of the obligation can be measured
reliably.

BRITAIN-NEPAL MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
Accountlng pollcles
Icontlnuedl
l expenditure is accounted for on an accruals basis. All expenditure including support costs and governance
costs are allocated or apportioned lo the applicable expenditure headings.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Grants payable are payments lo charities In Nepal, which are charged in the year when the grant is awarded
by the Trustees.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured al cost and subsequently measured at cost or valuation, nel of
depreciation and any impaimient losses.
Depreciation is recognised so as lo write off the cost or v8lualion of assets less their residual values over their
useful lives on the following bases..
Computers
25OA on cost
The gain Dr loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in the stslemenl of financial activities.
1.7 Impalrment of flxed assets
Al each reporting end dale, the charity reviews the carrying amounts of ils tangible assets to determine
whether there is any Indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss lif any).
1.8 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid
investments wth original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
thin borrowings in cuirenl Iiabililies.
1.9 Financial instruments
The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised al transaction value and subsequently measured al their
settlement value with the exception of current asset investments which are subsequently measured at fair
value with any gains or losses arising on remeasurement recognised in profit or loss.

BRITAIN-NEPAL MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
Donations and legacies
Unrestricted Restricted
funds
funds
Total
2025
Total
2024
Donations and grfts
Legacies receivable
26,885
55,000
5,799
32,684
55,000
26,458
34,321
81,885
5,799
87,684
60,779
Unrestricted donations
Restricted donations
81,885
5,799
58,189
2,590
87,684
60,779
Donatlons and glfts
Yeung Drung
Scholarship and specific Nepali family support
Gift aided and other donations
420
5,379
420
5,379
26,885
420
2,170
23,868
26,885
26,885
5,799
32,684
26,458
Investment income
Unrestricted
funds
Total
2025
2024
Income from listed investments
Interest receivable
217
953
245
1,894
1,170
2,139
All investment income earned, during both this financial reporting period and the previous reporting period,
was of an unrestricted nature.
Other income
2025
2024
Other income
11,788
25
10-

BRITAIN-NEPAL MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
Other Income
Icontlnuedl
All other income received, during both this financial reporting period and the previous reporting period, was
of an unrestricted nature.
Ralslng funds
Unrestricted
funds
Total
2024
Cost of
eneralin
donations and le
Publicity and ftjndraising
Annual Report
Accountancy
Consultants and professional services
Staff salaries
Office expenses
acies".
10,248
4,088
1,072
978
2,906
231
1,585
3,998
926
1,493
2,734
298
19,523
11,034

BRITAIN-NEPAL MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
Charitable activitie5
Programme
costs
Support
costs
Gov'nce
costs
Totsl
2024
Staff costs
Office expenses
Travel and Trustees expenses
Consultsnts and professional services
Independent examination fees
Accountancy
1,938
399
4,009
244
4,844
396
6,782
795
4,009
3,910
4,022
268
6,380
841
957
5,970
3,474
232
3,686
4,022
268
6,858
12,928
19,786
17,854
Grants payable (see note 71
168,294
168,294
68,061
Total
168,294
6,858
12,928
188,080
85,915
Analysis by fund
Unrestricted funds
Restricted funds
164,559
3,735
6,858
12,928
184,345
3,735
168,294
6,858
12,928
188,080
For the year ended 31 December 2024
Unrestricted funds
Restricted funds
65.526
2,535
3,784
14,070
83.380
2,535
68,061
3,784
14,070
85,915
Grants payable
2025
2024
Grants lo Biral Nepal Medical Trust
Grants of restricted funds (Note 171
164,559
3,735
65,526
2,535
168,294
68,061
Trustees
None of the trustees lor any persons connectèd wth them) received any reTnuneration during the year, but a
total of £4,009 was reimbursed for Iravelling expenses12024- total of £9571.
12-

BRITAIN-NEPAL MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
Employees
Numberofemployees
The average monthly number of employees during the year was..
2025
Number
2024
Number
Employment costs
2025
2024
Wages and salaries
9,688
9,114
10 Ngt gaIn￿{lo$S&$I on Inv9$1mgnts
2025
2024
Revaluation of investments
Gainlloss on sale of investments
7,004
857
1,165
7,861
1,165
All gainslllossesl on investments, during both this financial reporting period and the previous reporting
period, related lo unrestricted funds.
11 Tangible fixed assets
Computer5
Cost
Al 1 January 2025
1.743
Al 31 December 2025
1,743
Depreciation and impaiment
Al 1 January 2025
1,742
Al 31 December 2025
1,742
Carrying amount
Al 31 December 2025
Al 31 December 2024
13-

BRITAIN-NEPAL MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
12 Financial instruments
202S
2024
Carrying amount of financial assets
Instruments measured al fair value through profit or loss
99,720
102,972
Current asset investments are initially recognised al cost and are subsequently remeasured at fair value,
being the quoted market price, with any gains or losses arising on remeasurement recognised in the SOFA.
Al the year end the investments held had an original cost value of £5,514 12024.. £8,70ei and a fair value
Iquoled rnarkel pricel of £99,72012024.. £102,972).
During the year the charitsble company disposed of an investment for proceeds of £11,113 and a realised
gain of £857. In 2026 the charitsble company realised its remaining two investments. In future, surplus cash
11 be held in high interest deposit accounts.
13 Debtors
2025
2024
Amounts falling due within one year:
Other debtors
15,820
1,844
14 Creditors: amounts falling due within one year
2025
2024
Other creditors
Accruals and deferred income
137
4,999
410
4,600
5.136
5,010
15 Analysis of net assets betwaan funds
Unrestricted
funds
Restricted
funds
Total
Fund balances at 31 December 2025 are represented by..
Tangible fixed assets
Current assetsllliabilitiesl
156,055
6,044
162,099
156,056
6,044
162,100
14-

BRITAIN-NEPAL MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as lo how they may be used. These Indude
designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes.
At 1 January
2025
Incoming
resources
Resources
expended
Gains and
losses
At31
December
2025
General funds
257.220
94,843
1203,8881
7,861
156,056
Previous year:
At 1 January
2024
Incoming
resources
Resources
expended
Gains and
losses
At31
December
2024
General funds
290,116
60,353
194,4141
1,165
257,220
17 Restricted funds
The income funds of the charity indude restricted funds comprising the following unexpended balances of
donations and grants held on trust for specific purposes..
Movement in funds
Balance at I
Incoming Resources Balance at 31
January resources
expended
December
2025
2025
YeLJng Drung
Scholarship and specific Nepali family support
315
3,665
420
5,379
17351
13,0001
6,044
3.980
5,799
13,7351
6,044
15-

BRITAIN-NEPAL MEDICAL TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2025
18 Funds held as administrator
2025
2024
Funds held al 31 st December..
PDP Funders Group
35,786
5,853
35,786
5,853
The charity administers the above funds. These funds are not charity assets and are therefore
not included in the charity's financial statements.
16-