Charity registration number: 284376
## Bestobell-Meggitt Welfare Trust
Annual Report and Financial Statements
for the Year Ended 31 December 2025
## **Bestobell-Meggitt Welfare Trust**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustee's Report|2 to 4|
|Independent Auditors' Report|5 to 8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Financial Statements|11 to 18|
## **Bestobell-Meggitt Welfare Trust**
## **Reference and Administrative Details**
**Trustee** Bestobell Founders Welfare Trust Limited **Charity Registration Number** 284376 **Principal Office** Level 19 The Shard 32 London Bridge Street London SE1 9SG **Auditor** Westcotts (SW) LLP Chartered Accountants Timberly South Street Axminster Devon EX13 5AD **Bankers** CAF Bank 25 Kings Hill Avenue Kings Hill West Mailing ME19 4TA **Solicitors** Shakespeare Martineau Level 19, The Shard 32 London Bridge Street London SE1 9SG
Page 1
## **Bestobell-Meggitt Welfare Trust**
## **Trustee's Report**
The member presents the annual report together with the financial statements and auditors' report of the charity for the year ended 31 December 2025.
## **Structure, governance and management**
The fund operates in the United Kingdom and is also available to those who work or have worked for the overseas subsidiaries of Bestobell PLC and Meggitt PLC.
Grants to primary beneficiaries 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 treatment is not readily available through normal channels.
The Trust is administered by Bestobell Founders Welfare Limited, a limited company, whose directors act on behalf of the Trust. The directors of Bestobell Founders Welfare Trust Limited during the year, none of whom were remunerated for their services to the Trust, are:
- Mr F C Bedwell (Chairman)
- Mrs C E Bedwell
- Mr F T Bedwell - Mr F C Argyle
## **Recruitment and appointment of trustees**
The sole trustee is Bestobell 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 deed. The power of appointing new directors to the trustee company is exercised by the existing directors.
## **Objectives and activities**
The governing documents 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, financial need, or sickness of qualifying employees, pensioners and their widows or other dependents. These objects are furthered by the making of grants or interest-free loans to qualifying individuals. Secondary beneficiaries of the Trust include charities for the relief of hardship, financial need or sickness at the discretion of the Trustee.
## **Public benefit**
The trustee confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Page 2
## **Bestobell-Meggitt Welfare Trust**
## **Trustee's Report (continued)**
## **Financial review**
The fund's investment income for the year, after allowing for the recovery of income tax, was £47,697 (2024: £92,746).
The market value of the fund's investments at 31 December 2025 was £1,294,361 (2024: £3,047,014). The Trustee has unrestricted powers of investment and is satisfied that investments held by the charity during the year have been acquired in accordance with its powers of investment. The Trustee has appointed as professional investment managers TrinityBridge.
The directors of the Trustee company believe that the charity's assets are available and adequate to fulfil the obligations of the charity.
## **Reserves policy**
The directors of the Trustee company have established a policy whereby the unrestricted funds held by the charity are maintained in order to generate net income annually which is then expended in line with the charity's aims. This policy has been followed throughout 2025. The charity's unrestricted funds amount to £1,138,344 at the 31 December 2025 (2024: £3,010,800), of which £1,250,524 (2024: £3,003,177) is in investments. The investment portfolio exceeds the unrestricted funds balance because unrestricted funds comprise the charity's net assets, including other current assets and current liabilities in addition to investments. The Trustee company's directors believe that the level of funds held, are adequate for the purpose of fulfilling the object of the charity and are not excessive.
## **Statement of Trustee's Responsibilities**
The trustee is responsible for preparing the trustee's report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the member is required to:
- select suitable accounting policies and then apply them consistently;
- 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 followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that 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 to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The member is 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.
The trustee is responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Page 3
## **Bestobell-Meggitt Welfare Trust**
## **Trustee's Report (continued)**
## **Disclosure of information to auditor**
The member has taken steps that ought to have taken as a member in order to make aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The member confirms that there is no relevant information that of and of which the auditor is unaware.
The annual report was approved by the member of the charity on 14 July 2026 and signed on its behalf by:
Mr F C Bedwell on behalf of Bestobell Founders Welfare Trust Limited Trustee
Page 4
## **Bestobell-Meggitt Welfare Trust**
## **Independent Auditor's Report to the Members of Bestobell-Meggitt Welfare Trust**
## **Opinion**
We have audited the financial statements of Bestobell-Meggitt Welfare Trust (the 'charity') for the year ended 31 December 2025, which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustee use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustee with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustee is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Page 5
## **Bestobell-Meggitt Welfare Trust**
## **Independent Auditor's Report to the Members of Bestobell-Meggitt Welfare Trust (continued)**
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required 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 misstatements in the Trustee's Report.
We have nothing to report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustee remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustee**
As explained more fully in the Statement of Trustee's Responsibilities (set out on page 3), the trustee are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee determine 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, the trustee are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustee either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor Responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the trustees and other management and inspection of the company’s correspondence. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit.
Page 6
## **Bestobell-Meggitt Welfare Trust**
## **Independent Auditor's Report to the Members of Bestobell-Meggitt Welfare Trust (continued)**
- The charity is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other company legislation. The charity is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of charities legislation.
- Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
- Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Page 7
## **Bestobell-Meggitt Welfare Trust**
## **Independent Auditor's Report to the Members of Bestobell-Meggitt Welfare Trust (continued)**
## **Use of our report**
This report is made solely to the charity trustee in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the trustee those matters we are required to state to trustee in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustee as a body, for our audit work, for this report, or for the opinions we have formed.
Stuart Carrington FCA (Senior Statutory Auditor) For and on behalf of Westcotts (SW) LLP,
Timberly South Street Axminster Devon EX13 5AD
28 July 2026
Page 8
## **Bestobell-Meggitt Welfare Trust**
## **Statement of Financial Activities for the Year Ended 31 December 2025**
|**Note**
**Income and Endowments from:**
Investment income
2
Total income
**Expenditure on:**
Raising funds
3
Charitable activities
4, 6
Other expenditure
5
Total expenditure
Net expenditure
**Other recognised gains**
**and losses**
Other gains/losses
7
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
15|**Unrestricted**
**funds**
**£**
47,697
47,697
(12,368)
(6,175)
(2,092,746)
(2,111,289)
(2,063,592)
191,136
(1,872,456)
3,010,800
1,138,344|**Endowment**
**funds**
**£**
-
-
-
-
-
-
-
-
-
43,837
43,837|**Total**
**2025**
**£**
47,697
47,697
(12,368)
(6,175)
(2,092,746)
(2,111,289)
(2,063,592)
191,136
(1,872,456)
3,054,637
1,182,181|**(As restated)**
**Total**
**2024**
**£**
92,746|
|---|---|---|---|---|
|||||92,746|
|||||(24,156)
(4,704)
(79,256)|
|||||(108,116)|
|||||(15,370)
59,556|
|||||44,186
3,010,451|
|||||3,054,637|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 15.
The notes on pages 11 to 18 form an integral part of these financial statements. Page 9
## **Bestobell-Meggitt Welfare Trust**
## **(Registration number: 284376) Balance Sheet as at 31 December 2025**
|**Note**
**Fixed assets**
Investments
11
**Current assets**
Debtors
12
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
13
**Net current (liabilities)/assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
14
**Net assets**
**Funds of the charity:**
**Endowment funds**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
15|**2025**
**£**
1,294,361
853
98,134
98,987
(211,067)
(112,080)
1,182,281
(100)
1,182,181
43,837
1,138,344
1,182,181|**(As restated)**
**2024**
**£**
3,047,014
1,605
118,359|
|---|---|---|
|||119,964
(112,241)|
|||7,723|
|||3,054,737
(100)|
|||3,054,637|
|||43,837
3,010,800|
|||3,054,637|
The financial statements on pages 9 to 18 were approved by the board of trustees, and authorised for issue on 14 July 2026 and signed on behalf by:
Mr F C Bedwell on behalf of Bestobell Founders Welfare Trust Limited Trustee
The notes on pages 11 to 18 form an integral part of these financial statements. Page 10
## **Bestobell-Meggitt Welfare Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Bestobell-Meggitt Welfare Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Disclosure exemptions**
The Charity has taken advantage of the exemption in FRS102 from the requirement to produce a cashflow statement because it is a small charity.
## **Going concern**
The trustee consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Prior period errors**
The comparative financial year has been restated due to identifying that donated grants had been omitted. The restatement has resulted in an increase of £79,256 to grant expenses and creditors.
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These 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 concerning the future and, by their nature, will rarely equal the related actual outcome.
## **Income and endowments**
## **Investment income**
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Page 11
## **Bestobell-Meggitt Welfare Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with 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.
## **Raising funds**
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## **Charitable activities**
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Grant provisions**
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of the grant payable.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect 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 exclusively to charitable purposes.
## **Fixed asset investments**
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Page 12
## **Bestobell-Meggitt Welfare Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)**
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustee discretion in furtherance of the objectives of the charity.
## **2 Investment income**
|Bank interest receivable
Income from listed investments|**Unrestricted**
**funds**
**General**
**£**
62
47,635
47,697|**Total**
**2025**
**£**
62
47,635
47,697|**Unrestricted**
**Funds**
**General**
**£**
396
92,350
92,746|**Total**
**2024**
**£**
396
92,350|
|---|---|---|---|---|
|||||92,746|
## **3 Investment management costs**
|Portfolio management|**Unrestricted**
**funds**
**General**
**£**
12,368
12,368|**Total**
**2025**
**£**
12,368
12,368|**Unrestricted**
**Funds**
**General**
**£**
24,156
24,156|**Total**
**2024**
**£**
24,156|
|---|---|---|---|---|
|||||24,156|
## **4 Expenditure on charitable activities**
|Support costs|**Unrestricted**
**funds**
**General**
**£**
6,175|**Total**
**2025**
**£**
6,175|**Unrestricted**
**Funds**
**General**
**£**
4,704|**Total**
**2024**
**£**
4,704|
|---|---|---|---|---|
Page 13
## **Bestobell-Meggitt Welfare Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)**
## **5 Other expenditure**
|Capital donated to The 4814
Trust
Grants payable|**Unrestricted**
**funds**
**General**
**£**
2,000,000
92,746
2,092,746|**Total**
**2025**
**£**
2,000,000
92,746
2,092,746|**Unrestricted**
**Funds**
**General**
**£**
-
79,256
79,256|**(As restated)**
**Total**
**2024**
**£**
-
79,256|
|---|---|---|---|---|
|||||79,256|
## **6 Analysis of support costs**
|Finance costs
Governance costs|**Total**
**2025**
**£**
95
6,080
6,175|**Total**
**2024**
**£**
88
4,616|
|---|---|---|
|||4,704|
## **7 Net (losses)/gains on investments**
|Other gains/losses on listed investments|**Unrestricted**
**Funds**
**£**
191,136|**2025**
**£**
191,136|**Unrestricted**
**Funds**
**£**
59,556|**2024**
**£**
59,556|
|---|---|---|---|---|
## **8 Trustee remuneration and expenses**
No trustee, nor any persons connected with them, have received any remuneration from the charity during the year (2024: none).
No trustees have received any reimbursed expenses or any other benefits from the charity during the year (2024: none).
## **9 Staff costs**
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was Nil (2024: Nil).
No employee received emoluments of more than £60,000 during the year (2024: Nil).
Page 14
## **Bestobell-Meggitt Welfare Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)**
## **10 Auditors' remuneration**
|Auditor's fees
Accountancy fees|**2025**
**£**
3,706
2,054
5,760|**2024**
**£**
2,861
1,755|
|---|---|---|
|||4,616|
## **11 Fixed asset investments**
|**Valuation**
At 1 January 2025
Additions
Disposals
Unrealised gain/(loss) on revaluation
Realised gain/(loss) on revaluation
Transfer to The 4814 Trust
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024|**Listed**
**investments**
**£**
3,047,014
488,164
(431,953)
148,474
42,662
(2,000,000)|
|---|---|
||1,294,361|
||1,294,361|
||3,047,014|
All investments shown above are held at valuation.
The historical cost of investments £1,075,497 (2024: £2,825,231). There has not been a significant reduction in the market values of investments since the year end.
## **Financial assets held at fair value**
Investments are held at fair value which has been provided by the investment managers, TrinityBridge.
## **12 Debtors**
|Other debtors|**2025**
**£**
853|**2024**
**£**
1,605|
|---|---|---|
Page 15
## **Bestobell-Meggitt Welfare Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)**
## **13 Creditors: amounts falling due within one year**
|**13 Creditors: amounts falling due within one year**|||
|---|---|---|
|Expenses paid by The 4814 Trust
Grants payable
Accruals
**14 Creditors: amounts falling due after one year**
Bestobell Founders Welfare Trust Limited|**2025**
**£**
33,559
172,002
5,506
211,067
**2025**
**£**
100|**(As restated)**
**2024**
**£**
28,314
79,256
4,671|
|||112,241|
|||**2024**
**£**
100|
Page 16
## **Bestobell-Meggitt Welfare Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)**
## **15 Funds**
|**Unrestricted funds**
**_General_**
General Funds
**Endowment funds**
**_Permanent_**
Permanent Funds
**Total funds**
**Unrestricted funds**
**_General_**
General Funds
**Endowment funds**
**_Permanent_**
Permanent Funds
**Total funds**|**Balance at**
**1 January**
**2025**
**£**
3,010,800
43,837
3,054,637
**Balance at**
**1 January**
**2024**
**£**
2,966,614
43,837
3,010,451|**Incoming**
**resources**
**£**
47,697
-
47,697
**Incoming**
**resources**
**£**
92,746
-
92,746|**Resources**
**expended**
**£**
(2,111,289)
-
(2,111,289)
**Resources**
**expended**
**£**
(108,116)
-
(108,116)|**Gains and**
**losses**
**£**
191,136
-
191,136
**Gains and**
**losses**
**£**
59,556
-
59,556|**Balance at**
**31**
**December**
**2025**
**£**
1,138,344
43,837|
|---|---|---|---|---|---|
||||||1,182,181|
||||||**Balance at**
**31**
**December**
**2024**
**£**
3,010,800
43,837|
||||||3,054,637|
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## **Bestobell-Meggitt Welfare Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)**
## **16 Analysis of net assets between funds**
|Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted**
**funds**
**General**
**£**
1,250,524
98,987
(211,067)
(100)
1,138,344
**Unrestricted**
**funds**
**General**
**£**
3,003,177
119,964
(112,241)
(100)
3,010,800|**Endowment**
**funds**
**Permanent**
**£**
43,837
-
-
-
43,837
**Endowment**
**funds**
**Permanent**
**£**
43,837
-
-
-
43,837|**Total funds**
**at 31**
**December**
**2025**
**£**
1,294,361
98,987
(211,067)
(100)|
|---|---|---|---|
||||1,182,181|
||||**Total funds**
**at 31**
**December**
**2024**
**£**
3,047,014
119,964
(112,241)
(100)|
||||3,054,637|
## **17 Related party transactions**
The 4814 Trust was set up in 2014 as a Charitable Trust (registered number 1162714). The trustees are FC Bedwell, CE Bedwell, FT Bedwell, FC Argyle and CJ Gardner.
FC Bedwell, CE Bedwell, FT Bedwell and FC Argyle are directors of the Trustee company, Bestobell Founders Welfare Trust Limited.
The charity transferred donated capital of £2,000,000 (2024: £nil) and grants of £92,746 to The 4814 Trust. In 2024 they made grants of £79,256 to The 4814 Trust which were omitted from last years accounts and have been adjusted by a prior period restatement.
The 4814 Trust paid expenses of £5,244 (2024: £4,212) on behalf of Bestobell-Meggitt Welfare Trust.
As at 31 December 2025, £33,559 (2024: £28,314) was owed to The 4814 Trust.
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