Charity registration number.. 284376
Bestobell-meggitt Welfare Trust
Annual Report and Financial Statements
for the Year Ended 31 December 2024

Be8tobell4leggltt Welfare Trust
Contents (continued)
Reference and Admini81rative Details
Truste8'8 Report
2to4
Independent Auditorn. Report
5t08
Statement of Flnandal Adivities
Balance Sheel
10
Notes to the Financial Ststements
11to18

Bostobell-meggltt Welfare Trust
Reference and Admlnlstrativo Details
Trustee
8estobell Founders Welfare Trust Limited
Charity Rogistration Nurnbgr
284376
Prlnclpal Offlce
The 4814 Trust l Bmwr
PO Box 96
Somerton
TA11 9BS
Audltor
W6stcotts (SW) LLP
Chartered Accountants
Timberly
Stsuth Strg&t
Axminster
Devon
EX13 SAD
Bankers
CAF Bank
25 Kings Hill Avenue
King$ Hill
West Mailing
ME19 4TA
Sollcitors
Bates. Wels & Braithwaite London LLP
10 Queèn Street Place
London
EC4R 1BE
Page 1

Bestobell-meggltt Welfare Trust
Trustee's Report
The member presents the annual report together wth the financial statements and auditors, report of
the Charity for the year ended 31 December 2024.
Structurey governance and managernent
The fund operates in the United Kingdom and is also available to those who work or have worked for
the overseas subsidiarie$ ol Bestobell PLC and Meggitt PLC.
Grants to primary beneficiar*s are awarded for a wide range of purposes, including..
- the relief of hardship or financial need, however it occurs.. and
- medical and convalescence expenses which arise because Irealrnent is not readily available through
normal channels.
The Trust is administered by Bestobell Founders Weware Limited, ? limited company, whose directors
act on behaK of the Trust. The directors of Bestobell Founders Welfare Trust Limited during the year,
none of whom were remungraled for their semees lo the Trust, a￿.
- Mr F C Bedwell (chaim￿nI
- Mrs C E Bedwell
Mr F T Bedwell
Mr F C Arg￿e
Recrultment and appointment of trustoes
The sole trustee is Beslolbell Founders Welfare Trust Limited, appointed by the original trust deed
dated 7 September 1948. Appointment of any further trustee would require amendment to the original
trust éeed. The power of appointing new dirgdors lo the trustee company is exercised by the existing
directo￿.
Objoctives and activities
The gov8ming doeument5 of the charity are the Principal Trust Deed dated 7 September 1948.
supplemented by later deeds and variations. The principal object of the Trust is the charitable relief of
hardship, finanaal need, or sickness of qualfying employees, pensioners and their widows or other
dependents. These objects are furthered by the making of grants or inteiest-free loans lo qualifying
individuals. Secondary beneficiaries of the Trust include charities for the relief of har¢Jship, financial
need or sickness al the dis¢relion of the Trustee.
Publlc beneflt
The trustee Gonfimi that they have complied with the requirements of section 17 of the Charities Act
2011 to have due regard to the public benefit guidan￿ published by the Charty Commission for
England and Wales.
Page 2

Bestobell-meggitt Wolfare Trust
Trustee's Report (contlnu6d)
Flnanclal review
The fund's investment income for the year, after allo￿n9 for the recovery of income tax. w&s £92,746
12023.. £79.2561.
The market value of tho fund's investment5 at 31 December 2024 was £3,047,014 12023..
£2,971,777). The Trustee has unrestricted powers of investment and is satisfied that investments held
by the charity during the year have been acquI￿d in accordance wrth rts powers of investment. The
Tnjstee has appointed as professional investment managers Close Brothers Asset Management.
The directors of the Tnjslee company believe that the chartys assets are avai18bl8 and adequate to
fu￿11 the obligatK)ns of the charity.
ReseThes pollcy
The directors of the Trustee company have established a wlicy whereby the unrestricted funds held
by the Charity are maintained in order to generate nel income annually which is then expended in line
wrth the charrtvs aims. This policy has been followed throughout 2024. The chariws unrestricted
funds amount to £3,090,056 al the 31 t)ecember 202412023.. £2,966,614), of which £3,047,014 is in
inveslmentsl2023.. £2,971,777). The Trustee companys directors believe that the level of funds held,
are adequate for the purpose of fuKilling the object of the ch8rty and are not excessive.
Statement of Trustee's Responsibilities
The trustee is responsible for preparing the trustee's report and the financial statements in
accordan￿ with the United lQngdom Accounting Stsndards {United Kingdom Generally Accepted
Accounting Practice) and applicable law and regulations.
The law applicable to eharities requires the Iruslee lo prepare financial slalements for each financial
year whKh give a true and fair v￿W of the stste of affairs of the ¢h8rty and of the incoming resources
and application of resources of the charity for that period. In P￿paring these finan¢ial $tstements, the
member is Fequired lo..
select suitable accounting policies and then apply them consistentty,.
observe the methods and principles in the Charities SORP..
make judgements and estimates that are reasonable and prudent.,
State whether applicable accounting standards have been follow&J, subject lo any material
departurgs disclosed and explained in the financial statements-, and
prepare the financial slalemenls on the going con￿rn basis unless f( is inappropriate to presume
Ihal the charity will continue in business.
The member is responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and enable them lo ensure that the financial
statements comply with the Charities Act 2011. Ihe Charities (A¢￿Unts and Reports) Regulations
2008, and the provisions of the constr(ution. The mernber is also responsible fof safeguarding the
assets of the charity and hen￿ for tsking reasonable steps for the prevention and detection of fraud
and other irregularities.
The trustee is responsible for the maintenance and integrity of the corporate and financial infomiation
included on the charitable company's website. Legislation governing the preparation and
dissemination of financial statements may drfler from legislation in otherjuri8dictions.
Page 3

Bestobell-meggitt Welfare Trust
Trustee's Report Icontlnued)
Dlsclosure ol infomation to auditor
The member has taken Steps that ought lo have taken a$ a member in order lo make aware of any
relevant audit infomialion and to estsblish that the ¢harty'8 audiloi is aware ol that infomiation. The
member confimis that there is no relevant inforrnation that of and of which the auditor is unaware.
The annual report was approved by the member of the charity on 271rw25 and signed on its
behall by..
Mr F C Bedwell on behalf of
Beslobell Founders Welfare Trust Limited
Trusteg
Page 4

Bastobell-meggitt Welfar• Trust
Independent Auditor's Report to the Members of Bestobell-meggitt Welfare
Trust
Oplnlon
We havo audited the financial statements of Beslobell-meggitt Welfare Trust (the 'eharty') for the year
ended 31 December 2024, which comprise the Slalemenl ()f Financial Ath'vities, Balance Sheet. and
Note5 to the Financial Statements, including a summary of si9nffieanl aceounting pOI￿leS. The
financial reporting frarnework that has been 8pplied in their preparation is United Kingdom Accounting
standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the
UK and Republ￿ of Ireland, and applicable law (Unrted Kingdc*n Generally Accepted AcLounting
Praclicel.
In our opinion the financial stalemenls..
give a tnje and fair view of the slate of the charity's affairs as at 31 December 2024 and of its
incoming resources and appli&*ion of resources. including its income and expenditure, for the
year then ended,.
have been properfy prepared in accordance with United Kingdom Generally Accepted Acwunting
Practiee,. and
have been prepared in accordance with the requirements of the Charrties Act 2011.
Basis for opinion
We conducted our audrt in accordance wth Inlemalional Standards on Auditing IUKI IISAS {UKII and
applicable law. Our responsibilities under those standards are further d&scribed in the auditor
responsibiliiies for the audit of the financial slalements section of our report. We are independent of
the charity in accordance wilh the ethul requirements that are rekvant lo our audi( of the financial
statements in the UK, induding the FRC'S Ethica1 Standard, and we have fulfilled o¢Jr other ethical
responsibilrties in aecordance with these requirements. We believe that the audit emdence we have
obtained is sufficient and approprkqte to provide a basis foi our opinion.
Conclusion5 relating to golng concern
In audf(ing the financial statements, we have eoncluded that the trustee use of the going concem
basis of accounting in the preparation of the financial statements is appropriate.
Based on tho work we have perfom)8d, we have not identrfied any material uncertainties relating to
events or condi(ions that, indniKlually or collectively, may cast signrficant doubl on the charity's ability
to continue as a going concern for a peri¢xI of at least IWe￿e months from when the original financial
statements were authorised for issue.
Our responsibilities and the responsibilities of the trustee with respect to going conc8m are described
in the relevant sedions of this report.
Other information
The Iruslee is responsib￿ for the other infomiation. The other infomation comprises the infomalion
included in the annual report, other than the financial ststements and our auditor's report thereon. Our
opinion on the financial staterrEnls does not cover the other information and, except to the extent
otherwise explicitly sL*ed in our report, do not express any form of assurance conclusion thereon.
Page 5

8estobell-Meggitt Welfare Trust
Independent Auditorfs Report to the Members of Bestobe114Jleggitt Welfare
Trust (continued)
In connection with ¢)ur audrt of the financial slalements. our responsibility is to read the other
information and, in doing so, consider whether the other inlormation is Material￿ inconsi51enl wrth the
financial statements or our knowledge obtained in the audit or othemise appears lo be materially
misstated. If we idenb'fy Such malenal ineonsistenues or apparent materi81 misststements, we are
required to deterniine whether there is a material mi5slalement in the financial ststements or a
material misslalement of the other infomiation. If, based on the work we have pgrfomied, we conclude
that there is a material misstatement of this other infomiation, we are required lo report that fact.
We have nothing to report in this regard.
Matters on whlch we are requlred to report by exception
In the light of our knowledge and understanding of the charity and its environment obtained in the
Course of the audit, we have not identified material mi$statemenls in the Trustee's Report.
We have nothing lo report in respect of the following matters whefe the Charities {Accounts and
Report} Regulations 2008 requires us to report lo you if. in our opinion..
adequate accounting records have not b¢en kept. or returns adequate for our audit have not been
receivèd from branches not v15fted by us., or
the finaneial statements atE not in a9reement ￿th the accounting records and retums,. or
ertain disclosures of trustse remuneration specrfied by law are not made: or
we have not receNed all the infomiation and explanations we require for our audit.
Responslbilitios of trustee
As explained more fully in the Sialemenl of Trustee's Responsibilities (set out on page 31, the Iruslee
are responsible for the preparat￿n of the financi81 staternents and for being satisfied th81 they gNe •
true and fair view, and for such internal control as the trustee delemine is necessary to enable the
preparation of financial statements that are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, thg tru51ee are responsible for assessing the charity's abilty to
continue as a going concem, disclosing, as applieable, matters related to going concem and using the
going con¢em basis of accounting unless the trustee either intend to liquKlale the charty or to cease
operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financlal ststements
Our objectwes are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due lo fr8ud or error. and to issue an auditorfs report
thet includes our opinion. Reasonable assuran￿ is a high level of assurance, but is not a guarante8
that an audit conducted in accordance with ISA5 IUKI will a￿ayS detect a material misstslement
when it exists. Mi5Stalements can arise from fraud or error and are considered material if, individually
or in the a99￿gate, they eould ￿aSOnablY be expected lo influence the economic decisions of users
taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularit*s. including fraud is detailod
bel¢)W.'
We identified areas of laws and regulations that could reasonably be eypected to have a material
effect on the financial slalements from our general commercial and sector experience and through
discussion with the trustees and other management and inspection of the ¢hariWs
correspondence. We communicated identified laws and regulal¥)ns thToughout our team, and
remained akrt to any indications of non-compliance Ihfoughout the audit.
Page 6

Bestobell-wteggitt Welfare Trust
Independent Auditorfs Report to the Members of Bostobell-moggitt Welfare
Trust (continued)
The charity 18 subject to laws and regulations that govem the preparation of the financial
statemenlg, including financial reporting legislation. and other charity legislation. The charity is also
subject lo other igws and regulations where the consequences of non-compliance could have
material impact on the amounts or disclosures within the financial statements, including
employment, anli-bribery, anli-money Lqundering and certain ospecls of charilie$1ggi$lation.
ing lo the inherent limttations of an audit, there is an unavoidable risk that we may not have
detected some material misslalements in the financial slalements. even though we have properly
planned and performed our audit in accordance wf(h auditing standards. In any audi(, there
remains a higher risk of non-deteclion of irregularities. as these may involve collusion, forgery.
intentional omissions, MIS￿p￿sentatIOns, or the override of internal controls. We are not
responsible for preventing non-compliance and cannot be expected to detect non-compliance wilh
all laws and ￿gUlatiOns.
As part of an audit in accordance wth ISAS IUKI, we exercise professional judgement and maintain
prefessional sceplicism throughout the audit. We also..
Identify and assess the fisks of material misstatement of the finaneial statements. whether due to
fraud or error, design ond perform 8udil procedures responsive lo those risks, and obtain audit
evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not
detecting a material misslalemenl resulting from fraud is higher than for one ￿sUlLIng from error.
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understanding of intemal control relevant lo the audit in order lo design audit procedures
that are appropriate in the circumslanees, but not for the purpose of expressing an opinion on the
effectiveness of the internal control.
Evaluatg the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the approprlaleness of the Iruslees, use of the going concern basis of acceunting
and, based on the audit evidence obtained, whether a material uncertainty exists related lo events
or conditions that may east signrficanl doubl on the ¢harity'$ abilty to continue as a going eoncern.
If we conclude that a material uncertainty exists, we are required to draw attention in our audf(orfs
report lo the related disclosures in the financial statements or, if such disclosures are inadequate,
to rnodify our opinion. Our conelusions are based on the audrt eviden￿ obtained up to the dale of
our audilorfs report. Howevor, future events or conditions may cause the charty to Cease to
continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements. including the
disclosures, 8nd whether the financial statements represent the underlylng transactions and
events in a manner that achieves fair presentation.
We communicate with those ¢harged with govemance regarding, among other matters. Ihg planned
scope and timing of the audit and significant audit findings. including any significant deficiencies in
internal control that we identsfy during our audit.
A further description of our responsibilities is available on the Financial Reporting Council's website
8t.. m.frc.org.uklaudilorsresponsibilf(ies. This deScript￿n fornis part of our auditorfs report.
Page 7

8estobell-Meggitt Welfare Trust
Independent Auditorfs Report to the Mombers of Bestobell-meggltt Welfare
Trust (continued
Use of our rèport
This report is made SO￿lY to the charty trustee in accordance with section 144 of the Charrties Act
2011 and regulations made under section 154 of that Act. Our audti work has been undertaken so that
e might stste to the Irusteg those matters we are required to slate to tTUStee in an auditors, report
and ft)r no other p￿r￿)se. To the fullest extent permitted by law, ￿ do not accept or assume
responsibility to anyone other than the charty and its trustee as a W, for our audr( work, for this
report, orfor the cpinions we have fomied.
luart C8ninOon FCA (Senior SL*utory Auditor>
For and on behalf of Westcotts ISWI LLP.
Timberiy
South Street
Axminster
Devon
EX13 SAD
Date..
itLJ 7d7f
Page 8

Bestobell-meggltt Wolfare Trust
ststement of Financial Activities for th• Y•ar Ended 31 December 2024
Unrestrictod
funds
Endowmont
funds
Totsl
2024
Total
2023
Income and Endowments from..
Investment income
92,746
92,746
79.256
Total income
92,746
92.746
79.256
Expenditure on:
Raising fvnds
Charitable activities
124,1561
{4,7041
{24.156}
4,704
124.7181
78,8861
1103.604
Total expenditure
128,8601
28,860
Net in¢omel{exFenditurel
Other recognlsed gains
and10sses
Other gainsllos8e5
Net movement in funds
63,886
63,886
124,348)
59,556
59,556
118,194
123,442
123,442
93,846
Reconciliation of funds
Total funds brought forward
Totsl funds carried forward 15
2,966,614
3.090.056
43,837
3.010,451
2,916,605
3,010,451
43,837
3.133.893
l of the d)arity's actniities derive from continuing operations during the above periods.
The funds breakdown for 2023 is shown in note 15.
The notes on pag9s 11 to 18 form an integral part of thes8 financial stalemenls.
Pago 9

Bestobell-meggitt Welfare Trust
(Registration number: 284376)
Balance Sheet as at 31 December 2024
2024
2023
Note
Fixed assets
Investments
11
3,047,014
2.971,777
Current assots
Debtors
Cash al bank and in hand
12
1,605
118,359
1 t9.964
1,291
65,852
67.143
Creditors: Arnounts folllng du• within one year
132,985
128,369)
Net current assets
86,979
38,774
Total assets less current liabilities
3,133,993
3,010,551
Creditors: Amounts falllng due after more than one year 14
11001
3,133,893
11001
Net assets
3.010,451
Funds of the charity:
Endowmentfunds
43,837
43,837
Unrgstricted Income funds
Unrestricted funds
3,090.056
2,966,614
Total funds
3,133,893
3,010,451
The financial statements on pages 9 to 18 were approved by the board ol Iru$t¢es. and authorisgd for
issue on 27106r25 and signed on behalf by..
Mr F C Bedwell on behalf of
Bestobell Founders We￿are Trust Limited
Trustee
The notes on pages 11 to 18 fom an integral part of these financial statements.
Page 10

Bestobell-meggitt Welfare Trust
Notes to the Financial Statements for the Year Ended 31 December 2024
1 Accounting pollcles
Statement of compllan¢e
The financial statements have been prepared in accordance with the second edition of the Charities
Slalement of Recommended Practice issued in October 2019, the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011.
8asls of preparatlon
Beslobell-meggrtt Welfare Trust meets the definition of a public beneff( entty under FRS 102. The
accounts {financial slatemenlsl have been prepared under the historical cost convention with items
recognised al cost or IransactKJn value unless otherwise slated in the re￿Vartt notelsl lo these
accounts.
DSs¢losure exemptlons
The Charty has taken advantsge of the exemption in FRS102 from the requirement lo produce
cashflow statement because il 1$ a small charity.
Golng eoncern
The trustee consider that there are no material uncertaintrds about the charitys ability to continue a$ a
going concem.
Judgements and key sources of 8¥timatlon uncertainty
The preparation of the financial statements requires management lo make judgements, estimates and
assumptions that affect the amounts reported. Thes@ estimates and judgements are continually
reviewed and are based on experience and other factors. including expectations of future events that
are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made conceming the future and. by their nature, will rarely
equal the related actual outcome.
Income and endowrnonts
Invgstment income
Divi¢Yends are recognised once the dividend has been declared and notification has been received ot
the dividend dye.
Expgndlture
All expendrture is recognised once there is a leg81 or Gon$lruGlive obligation to that expenditu￿, il is
probable settlement is required and the amount ean be measured reliably. All costs are allocated lo
the applicable expenditure heading that aggregate similar costs to that eateg¢ry. Where costs cannot
be directly attributod to particular headings they have been allocated on a basis consistent wi(h the
use of resources, w(th central staff costs allocated on the basis of time spent. and depreciation
charges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Page 11

Besto￿11-megg1tt Welfare Trust
Notes to the Financial Ststements for the Year Ended 31 December 2024
(continued)
Raising funds
These are costs incurred in attracting voluntary income. the management of investments and those
incurred in trading activrties that raise funds.
Charitable a¢tivities
Chantsble expenditure comprises Ih05e costs incurred by the charty in the de1Th￿ry of its activities
and services for ils beneficiaries. 11 includes both costs that can be allocated direclty to such activilEs
and those costs of an indifecl nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant ha8 been communicated to the
recipient birt there is uncertainty about either the liming of the grant or the amount of grant payable.
Support costs
Support costs include tsntral functions and have been allocated to actNity cost categories on a basis
consistent with the use of resourees, for example, allocating property costs by floor areas, or per
capita, staff costs by the time spent and other costs by their sjsage.
Taxatlon
The chanty is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definit￿n of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potential￿ exempt from taxation in ￿Spect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are
applied exclusivety to charitable purpose5.
Flxed asset Investments
Fixed asset investments, other than programme related investments, are included at market value at
the balan￿ sheet dale. Realised gains and losses on inveslments are calculated as the dIffe￿nce
befv4een sales proceeds and their market value at the stsrt of the year, or their subs8quenl cost, and
are charged or credited lo the Statement of Financial Activities in the period of dssposal.
Unrealised gains and losses represent the movement in market values during the year and are
credited or charged to the Slalement of Financial Actiwt*s based on the market value at the year end.
Ca$h and ¢a$h equivalents
Cash and Cash equivalents eomprise eash on hand and e211 deposits, and ¢ther Short-lerm highly
liquhl investments that are readily convertible to a known amount of cash and are subjeGt to an
insignificant risk of change in value.
Fund $tructure
Unrestricted income fiJnd$ are general fvnds that are available for use at the trust8e diseretion in
furtherance of the objecbves of the charity.
Page 12

Bestobell-meggitt Welfare Trust
Notes to the Financial Statements for the Year Ended 31 December 2024
(continued)
2 Investment income
Unrestrlctod
funds
General
Unrgstrlcted
Funds
General
Total
2024
Total
2023
8ank interest receivable
Income from listed investments
396
92,350
318
78,938
79,256
318
78.938
92,350
92,746
92,746
79,256
3 Investrngnt management Costs
Unrestrieted
funds
Ggneral
Unrestrictfjd
Fund$
Genernl
Total
2024
Total
2023
Portfolio management
24,156
24,156
24,156
24,718
24.718
24,156
24,718
24,718
4 Expendlture on charitable •ctlv5tles
Unrestrkled
funds
General
Unrostricted
Funds
General
Totsl
2024
Total
2023
Grant funding of activtties
Support costs
75,537
3,349
78.886
7S,537
3,349
4,704
4,704
4,704
4,704
78,886
Page 13

B•stobell-Meggitt Wellare Trust
Noles to the Financial Statements for the Year Ended 31 December 2024
(contlnued)
S Anafysi$ of support cr￿$
Totsl
2024
Totsl
2023
Flnan¢e ¢osts
Gov9rnance costs
88
4,616
88
3,261
4,704
3.349
6 Analysis of grants
2024
2023
Grants to institutions
75,537
75.537
7 Net Ilossesygalns on Investm9nts
Unrestricted
Funds
Unrestrlcted
Funds
2024
2023
Other gainsllosses on listed investments
59,556
59,556
118,194
118,194
8 Tru$tee rernunerdt*)n and expènses
No trustee. nor any persons connected with them, have rgceived any romuneration from the charity
during the year12023: none).
No trustees have received any reimbursed expen$es or any other bgnefiis from the charity during the
year {2023'. none).
9 Staff costs
Th¢ monthly averagg number of pfjrsons {including Senior management I leadership team} employed
by the charty during the year expressed as fvll ts'me equivalents was Nil (2023.. Nill.
No employee received emoluments of more than £60,000 during the year12023.. Nill.
Page 14

Bestobell-meggitt Welfare Trust
Notes to the Financial Statements for the Year Ended 31 December 2024
{continued
10 Auditor¥' remuneratlon
2024
2023
Auditorfs fees
Accountsncy fees
2,861
1,755
2,032
1.229
4,616
3,261
11 Fixed asset invostments
Olher Investments
Listed
investments
Cost or Valuation
Al 1 January 2024
Additions
Disposals
Revaluation
2.971,777
945,917
1750,370)
1120,310
At 31 December 2024
3.047,014
Net book value
At 31 December 2024
3,047,014
At 31 December 2023
2.971,777
All investments shown atr￿Ve are held at valuation.
The historical cost of investments £2,825,231 {2023.. £2,781,893). There has not been a significant
reduction in the market values of investment$ $in¢e the year end.
Flnanclal assets held at fair value
Investments are held at fair value which ha3 been promded by the investment managers. Cloge
Brothers Asset Management.
12 Debtors
2024
2023
Other debtors
1,291
Page15

Bestobell-meggitt Welfar• Trust
Notes to the Financlal Statsments for the Year End•d 31 Dècember 2024
(contlnued)
13 Crtdrtots: amounts falling duè wlthln one year
2024
2023
Expenses paid by The 4814 Trust
Accruals
28,314
4,671
32.985
24,103
4,266
28,369
14 Credftor8: amounts falllng due after one yoar
2024
2023
Bestobg11 Founders We￿8re Trust Limited
11JO
100
Pw30 16

Bestobell-meggitt Welfare Trust
Notes to the Financial Statements for the Year Ended 31 December 2024
(continued)
15 Funds
Balante at
31
Gains and December
losses
2024
Balance at
1 January
2024
Incoming Rosources
resources
expended
Unrestricted funds
General
General Funds
2,966.614
92,746
128,860}
59,556
3,090,056
Endowmont fvnds
Pemianent
Permanent Funds
43,837
43.837
Total funds
3.010,451
92,746
28,860
59,556
3,133,893
Balance at
31
Galns and December
lossas
2023
Balance at
1 January
2023
Incomlng Resources
resources
èxpended
Unrestrlcted funds
Ggneral
General Fund5
2.872.768
79,256
1103.6041
118.194
2.966,614
Endowment funds
Permanent
Pemianent Funds
43.837
43,837
Total funds
2,916,605
79,256
103,604
118,194
3.010,451
Page 17

Bestobell-meggitt Welfar• Trust
Notes to the Financial Statements for the Year Ended 31 December 2024
{continued)
16 Analysls of net assots between fvnds
Total funds
at31
December
2024
Unrestrictsd
funds
General
Endowmont
funds
Permanent
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
3,003.177
119,964
{32.9851
1100}
3,090,056
43,837
3.047.014
119.964
{32,985}
1100)
3,133,893
43.837
Totsl funds
at31
December
2023
Unrestrictsd
funds
General
Endowmènt
funds
Pemanent
Fixed asset investments
Current assets
Current liabilities
Creditors over l year
Totsl net assets
2,927,940
67,143
{28,3691
1100
2,966.614
43,837
2,971.777
67,143
128,369}
100
43,837
3,010.451
17 Related party transactions
The 4814 Trust was set up in 2014 as a Charitable Trust (registered number 11627141. The tTUStees
are FC Bedwell, CE Bedwell. ￿ Bedwell, FC Argyle and CJ Gardner.
FC B&Jwell, CE Be￿ell, FT Bethll and FC Argyle are directors of the Trustee company. Bestobell
Founders Weffare Trust Limited.
During the year, grants of £-12023.. £75,537) were made lo The 4814 Trust.
The 4814 Trust paid expenses of £ 4,212 {2023'. £4.2101 on behaw of Bestobell-meggitt Weware Trust.
As at 31 D9￿rnber 2024, £28.314 {2023. £24.1031 was owed to The 4814 Trust.
18 Non4dlustlng events after the financlal porlod
The Trustees of Bestobelkmeggitt Welfare Trust wishes lo transfer a capital sum of £2.000,000 out of
its capital to The 4814 Trust with a deed dated 18 Mar¢h 2025.
Page 18