Much of the money will help charities deal with a drop in funding from public donations.

The money mainly comes from Amati which has continued its policy of donating 10% of profits to charity.

Matttioli Woods and Amati employees have taken part in deciding which charities should benefit with 97 requests for donations.

The charities chosen were those that either provide support to staff or work in areas important to staff.

In this fund of donating, a total of £169,950 was shared with every charity nominated receiving between £250 and £40,000.

Charities including Derian House Children’s Hospice, MND, Reach and The Wave Project.

Mattioli says the donations came at a time when charity donations generally have dropped due to many people suffering from soaring costs, reducing their ability to give.

Ian Mattioli, CEO of Mattioli Woods said, “Once again our colleagues at Mattioli Woods have made us proud with the vast amount of nominations sent in for us to choose which charities we should work with.

“While we continue to support our national charity, British Heart Foundation, we are always looking for ways we can help those smaller charities that are close to our colleagues’ hearts. The Amati pot gives us this chance to help those up and down the country.”

ADAPT Prembabies is one of the charities receiving a donation. Development co-ordinator Sue Williams said: “We are absolutely delighted to receive this kind donation and can confirm that this donation will be put towards purchasing items for the baby packs given to every new mum on the neonatal units.

“We use over 1,500 of these baby packs each year. At a cost of £5.75 per pack, this donation will go a long way in helping to meet our funding requirements.”

Among the smaller groups to benefit were 3rd Larkhall Girls Brigade, Scotland’s Charity Air Ambulance, Leicester Animal Aid, Space4Autism, St Catherine’s Hospice and Rainbow Children’s Hospice.