The grand total raised at the 2004 Caudwell Charitable Trust Ball of £1,027,000 and the sum raised by John Caudwell during the centrepiece 45 minute auction was £178,000.

Mr Bate, on behalf of Siemens, bid £30,000 for a week’s fully crewed charter on board Ocean Liberty one of the world’s most beautiful motor yachts.

Siemens’ bid – like that of all other bidders, donors, sponsors and guests – goes into a Trust dedicated to providing life-saving or life-changing treatment for children, or to pay for their dying wishes.

John Caudwell said: “The owners of the yacht, whom we represent, are delighted that it has raised such a large sum for the Caudwell Charitable Trust.”