Company registration number 07566567 (England and Wales)
Charity registration number 1141269 (England and Wales)
A J BELL TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2025
30 September 2025
A J BELL TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
A J Bell
T A Bell
P B Barrow
P D Clements
Secretary
E E J Speksnijder
Charity number
1141269
Company number
07566567
Registered office
Blythe Hall
Blythe Lane
Lathom
Ormskirk
England
L40 5TY
Independent examiner
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
A J BELL TRUST
CONTENTS
Page
Trustees report
1 - 3
Statement of Trustees responsibilities
4
Independent examiner's report
5
Statement of financial activities
6
Balance sheet
7
Notes to the financial statements
8 - 14
A J BELL TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 1 -

The trustees present their annual report and financial statements for the year ended 30 September 2025.

The Trustees (who are also the directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of A J Bell Trust for the period 1 October 2024 to 30 September 20 25. The Trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Objectives and activities

A. POLICIES AND OBJECTIVES

The charity’s objects are t o advance in life, help and relieve persons living in the United Kingdom who are in need, whether as a result of their age, financial hardship, sickness, poor health, lack of opportunity, disability or other disadvantage, with the primary focus being on children and young adults under 25 years of age, in such ways as the charity trustees think fit, including:

- b y developing their skills, capacities and capabilities to enable them to better participate in society;

- b y providing for their education and training, whether vocational or non-vocational and including the study of art, culture, heritage or science;

- b y providing for their care, upbringing or establishment in life, including the provision of accommodation;

- b y relieving unemployment in such ways as the charity trustees think fit, including the provision of assistance in finding employment;

- by providing or subsidising the provision of recreational and leisure time activities in the interests of social welfare and by promoting their participation in amateur sports;

- by promoting health care projects and research into causes of illness;

- by providing grants, items, goods and services to individuals in need and/or other charities and o rganisations working to prevent or relieve financial hardship;

- by promoting social inclusion for the public benefit, preventing them from becoming socially excluded, relieving the needs of those who are socially excluded and assisting them to integrate in society.

B. ACTIVITIES FOR ACHIEVING OBJECTIVES

Funds are generated by receiving dividends from an investment portfolio. The main charitable activities undertaken by A J Bell Trust during the period were making donations to other charities whose objectives are within the scope of the Trust’s objectives.

C. MAIN ACTIVITIES UNDERTAKEN TO FURTHER CHARITY'S PURPOSES FOR PUBLIC BENEFIT

The trustees paid due regard to the Charity Commission’s guidance on public benefit in deciding what activities the charity should undertake during the course of the year.

Financial review

A. REVIEW OF FINANCIAL POSITION

The charity's total income was £174,793 (2024: £167,666) and the total expenditure was £113,997 (2024: £148,307). The net gain on investments was £2,305,600 (2024: £2,052,429). This resulted in a net income for the year of £2,366,396 (2024: £2,071,788). Unrestricted funds carried forward as at 30 September 2025 was £9,088,949 (2024: £6,722,553). There are no restricted funds.

A J BELL TRUST
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -

B. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate exposure to the major risks.

C. RESERVES POLICY

The charity does not have a formal reserves policy although the Trustees intend to ensure that the company safely commits as much as possible to furthering its objectives.

D. GOING CONCERN

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Structure, governance and management

A. CONSTITUTION

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 16 March 2011 with a registered charity number 1141269.

The principal object of the company is to advance in life, help and relieve persons living in the United Kingdom who are in need, with the primary focus being on children and young adults under 25 years of age.

B. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

A J BELL TRUST
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
Plans for future period

A. FUTURE DEVELOPMENTS

Over the next twelve months, the charity will continue to support the Sandy Park Café and the youth charity, Snow-Camp.

The director, Mr A J Bell, has pledged to support the charity with donations to enable it to continue its work.

The Trustees r eport was approved by the Board of Trustees.

A J Bell
Trustee
Dated: 19 June 2026
A J BELL TRUST
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 4 -

The trustees, who are also the directors of A J Bell Trust for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees 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, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are 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 UK 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 operation.

The trustees are responsible for keeping adequate 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 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.

A J BELL TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF A J BELL TRUST
- 5 -

I report to the trustees on my examination of the financial statements of A J Bell Trust (the charity) for the year ended 30 September 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), 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 statements of the charity are not required to 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 out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Dean Rodgers ACA
Dated: 19 June 2026
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
A J BELL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 6 -
Unrestricted
Unrestricted
funds
funds
2025
2024
Notes
£
£
Income from:
Donations and legacies
2
9,699
-

Investment s

3
165,094
167,666
Total income
174,793
167,666
Expenditure on:
Charitable activities
4
113,997
148,307
Net gains/(losses) on investments
8
2,305,600
2,052,429
Net income for the year/
Net movement in funds
2,366,396
2,071,788
Fund balances at 1 October
6,722,553
4,650,765
Fund balances at 30 September
9,088,949
6,722,553

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
A J BELL TRUST
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 7 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
249,458
249,458
Investments
11
8,230,587
5,921,856
8,480,045
6,171,314
Current assets
Debtors
12
-
2,900
Cash at bank and in hand
610,973
749,689
610,973
752,589
Creditors: amounts falling due within one year
13
(2,069)
(201,350)
Net current assets
608,904
551,239
Total assets less current liabilities
9,088,949
6,722,553
Income funds
Unrestricted funds
9,088,949
6,722,553
9,088,949
6,722,553

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 19 June 2026
A J Bell
Trustee
Company Registration No. 07566567
A J BELL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
1
Accounting policies
Charity information

The company is a company limited by guarantee. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

1.1
Accounting convention

The Charity's financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. 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 expectation that the charity has adequate resources 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
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific 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 to the financial statements.

1.4
Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once 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 Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
A J BELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 9 -

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
measured at valuation

The gain or 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 statement of financial activities.

1.6
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its 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 (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

A J BELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 10 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Donations and legacies
Unrestricted
Total
funds
2025
2024
£
£
Donations and gifts
9,699
-
3

Investment s

Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Income from unlisted investments
142,333
135,766
Interest receivable
22,761
31,900
165,094
167,666
A J BELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 11 -
4
Charitable activities
2025
2024
£
£
Donations
110,811
145,305
Property insurance
775
687
Bank charges
281
495
Property expenditure
612
480
112,479
146,967
Governance costs
1,518
1,340
113,997
148,307

Of the total charitable expenditure, £Nil (2024: £Nil) was restricted and £113,997 (2024: £148,307) was unrestricted expenditure.

5
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
1,428
1,340
6
Trustees

None of the trustees (or any persons connected with them) received any remuneration, benefits or reimbursement of expenses from the charity during the year.

7
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Total
0
0
There were no employees whose annual remuneration was more than £60,000.
A J BELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 12 -
8
Gains and losses on investments
Unrestricted
Unrestricted
funds
funds
2025
2024
Gains/(losses) arising on:
£
£
Sale of investments
2,305,600
2,052,429
9
Taxation

The charity is exempt from tax ation on its activities because all its income is applied for charitable purposes.

10
Tangible fixed assets
Freehold land and buildings
£
Cost or Valuation
At 1 October 2024
490,168
At 30 September 2025
490,168
Depreciation and impairment
At 1 October 2024
240,710
At 30 September 2025
240,710
Carrying amount
At 30 September 2025
249,458
At 30 September 2024
249,458
A J BELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 13 -
11
Fixed asset investments
Unlisted investments
Other investments
Total
£
£
Cost or valuation
At 1 October 2024
5,521,856
400,000
5,921,856
Additions
509,061
400,000
909,061
Valuation change
2,305,600
-
2,305,600
Disposals
(905,930)
-
(905,930)
At 30 September 2025
7,430,587
800,000
8,230,587
Carrying amount
At 30 September 2025
7,430,587
800,000
8,230,587
At 30 September 2024
5,521,856
400,000
5,921,856
2025
2024
Other investments comprise:
Notes
£
£
Investments in subsidiaries
16
800,000
400,000
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
-
2,900
13
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
-
200,000
Accruals and deferred income
2,069
1,350
2,069
201,350
A J BELL TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 14 -
14
Analysis of net assets between funds
Unrestricted
Restricted
2025
Funds
Funds
Total
£
£
£
Fund balances at 30 September 2025 are represented by:
Tangible assets
249,458
-
249,458
Investments
8,230,587
-
8,230,587
Current assets/(liabilities)
608,904
-
608,904
9,088,949
-
9,088,949
Unrestricted
Restricted
2024
Funds
Funds
Total
£
£
£
Fund balances at 30 September 2024 are represented by:
Tangible assets
249,458
-
249,458
Investments
5,921,856
-
5,921,856
Current assets/(liabilities)
551,239
-
551,239
6,722,553
-
6,722,553
15
Related party transactions

During the year, the Charity received a donation of 243,000 shares in A J Bell Plc from Mr A J Bell, a Trustee of the Charity. The shares had a base cost of £9,061.

16
Subsidiaries

These financial statements are separate charity financial statements for A J Bell Trust.

Details of the charity's subsidiaries at 30 September 2025 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
AJBT Projects Ltd
UK
AJBT Projects Ltd was formed to own and manage property for use in the community which further the same aims as the charity.
Ordinary
100.00
2025-09-30 2024-10-01 false false false CCH Software iXBRL Review & Tag 2025.2 07566567 2024-10-01 2025-09-30 07566567 2025-09-30 07566567 bus:Director1 2024-10-01 2025-09-30 07566567 bus:Director2 2024-10-01 2025-09-30 07566567 bus:Director3 2024-10-01 2025-09-30 07566567 bus:Director4 2024-10-01 2025-09-30 07566567 2024-09-30 07566567 2023-10-01 2024-09-30 07566567 bus:FRS102 2024-10-01 2025-09-30 07566567 char:IndependentExaminationCharity 2024-10-01 2025-09-30 07566567 bus:FullAccounts 2024-10-01 2025-09-30 xbrli:pure xbrli:shares iso4217:GBP