REGISTERED COMPANY NUMBER: 05523632 (England and Wales) REGISTERED CHARITY NUMBER: 1112260
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for
Operation Christmas Box
Maximus Accountancy Services Limited 47 Kensington Road Chichester West Sussex PO19 7XS
Operation Christmas Box
Contents of the Financial Statements for the Year Ended 31 December 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 13 |
Operation Christmas Box
Reference and Administrative Details for the Year Ended 31 December 2023
TRUSTEES Mr A Sims (resigned 1.2.2024) Mrs S Little (resigned 1.2.2024) Wing Commander (Retd) C Wookey (resigned 1.2.2024) Colonel (Retd) S R Sharman Mr C T Scanlon (appointed 1.3.2023) Lt Colonel (Retd) N Russell (appointed 4.10.2023) REGISTERED OFFICE Castle Hill Barns New Hill Hough on the Hill Grantham Lincolnshire NG32 2AZ REGISTERED COMPANY 05523632 (England and Wales) NUMBER REGISTERED CHARITY 1112260 NUMBER INDEPENDENT EXAMINER Maximus Accountancy Services Limited 47 Kensington Road Chichester West Sussex PO19 7XS
Page 1
Operation Christmas Box (Registered number: 05523632)
for the Year Ended 31 December 2023
Report of the Trustees
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects for which the charity was established are to help improve the morale of the UK Armed Forces, through charitable means, by promoting the well-being and esprit de corps of all those on military service. This is achieved, primarily, by providing Christmas Boxes to all unaccompanied personnel serving on operations and overseas, who are away from their families and loved ones on Christmas Day each year.
The charity cannot operate without assistance from the Ministry of Defence (MOD) which provides estimates of numbers likely to be away, and locations. It also provides senior military officers to sit on the MOD Christmas Box Committee and who give their advice on items and the suitability of the Christmas Box contents. The MOD assists with the Christmas Box distribution using irreducible spare capacity in their supply chain in the early autumn each year.
Public benefit
The trustees confirm that when reviewing the charity's aims and objectives, and in the planning of future activities, they have consulted the guidance in the Charity Commission's Guidance on Public Benefit .
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity continues to deliver annually against its main task of providing a morale boosting gift box to all unaccompanied UK military personnel serving overseas on Christmas Day.
Following the name change to Operation Christmas Box at the beginning of 2019, the trustees believe that the name is becoming more well known within the Armed Forces but there is still much work to do.
The 2023 Christmas Box contents were compiled with help from the military members of the MOD Christmas Box Committee and ideas suggested by serving personnel. The annual planning meeting, held during late autumn of 2022, set out a proposed list of the contents for the 2023 box. The trustees subsequently confirmed the final list with the assistance of Box, Tray & Giraffe Inc, our Chinese supplier. The trustees contracted to purchase 8,500 Christmas Boxes for 2023. As in previous years, the feedback from a number of commanding officers and individuals was excellent, and the boxes undoubtedly achieved the charity's aim of improving the morale of all those UK troops who were on operations away from friends and families on Christmas Day 2023.
Fundraising activities
Despite the large numbers of UK Armed Forces still on operations, raising sponsorship can be a challenge. However, the trustees have retained key sponsors, in particular The Nuffield Trust for Forces of the Crown and The Gosling Foundation, both of whom greatly value what the charity delivers.
The Sponsors golf day, that had been postponed from September 2022 due to the death of HM The Queen, took place at the Ash Valley Golf Club in June 2023. The event was a great success, raising awareness of the charity across defence, as well as generating donations of £15,124 (including £13,500 which was received in 2022).
Social Media
An ex-RN sailor has continued to act as a social media consultant on a part time pro bono basis, which has ensured a good social media presence. This has enabled the trustees to provide an impressive array of social media comments and images from Christmas Box recipients around the world. It has also enabled images of the boxes and contents taken in theatre to be included on our website and forwarded to our sponsors.
Thanks
The trustees would like to reiterate their thanks to both the MOD and to Box, Tray & Giraffe Inc. The trustees are also most grateful to Good Logistics Group for their assistance in unloading the container from Felixstowe, and with palletising and shrink wrapping the boxes before sending the boxes for distribution to their final destinations.
Page 2
Operation Christmas Box (Registered number: 05523632)
Report of the Trustees
for the Year Ended 31 December 2023
FINANCIAL REVIEW
Financial position
During the year the charity received donations amounting to £127,753 (2022: £128,170). The direct cost of the Christmas Boxes for Christmas 2023 was £124,042 (2022: £137,734), and the cost of generating funds amounted to £17,356 (2022: £16,022).
The overall deficit for the year, after taking into account other income, realised and unrealised gains and losses on investments, and the minimal support and governance costs, amounted to £13,825 (2022: deficit of £63,617), none of which is restricted. At the year end the unrestricted reserves amounted to £151,820 (2022: £165,645).
Reserves and investments
The charity operates on a year by year basis with purchase costs known in advance. The trustees are required to pay a 30% deposit when placing the order for the Christmas Boxes and the balance 45 days after receipt of the bill of lading. They have always considered that they should have reserves to cover the average cost of two years of boxes at a realistic level (eg 9,000 boxes per year at £15 per box) of around £270,000. The trustees have achieved this in previous years but they are now struggling to maintain this level of income, and reserves are currently equivalent to a little over one year's running costs including the Christmas Boxes.
As interest rates have improved, and markets continue to be volatile, the trustees agreed to liquidate the investment portfolio in the prior year so that reserve funds were held as cash as at the year end, pending a decision on the charity's future investment strategy.
FUTURE PLANS
The future is looking positive, with a new approach to sponsorship aiming to secure funds on a two year basis, rather than on an annual basis. Whilst this concept is still in its infancy the signs are encouraging as it enables the charity to present a more joined up and considered financial profile to prospective sponsors who are willing to consider funding for two, rather than just one year of delivery.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity was incorporated on 1 August 2005 and registered as a charity on 24 November 2005. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. None of the trustees has any beneficial interest in the charity. In the event of the charity being wound up the members are required to contribute an amount not exceeding £1.
The charity was originally known as UK4U-Thanks and changed its name to Operation Christmas Box with effect from 28 February 2018 as this is deemed more representative of the charity's raison d'etre.
Recruitment and appointment of new trustees
The day to day management of the affairs of the charity is undertaken by the trustees.
The trustees were approached to act as trustees due to their connection with the military. Given the nature of the charity's activities no formal induction or training is considered to be required. The trustees are aware of their responsibilities and take advice from the Charity Commission and professional advisers as the need arises.
At the beginning of 2023 three of the founding trustees, Sally Little, Allan Sims and Charles Wookey, confirmed that they would be resigning as trustees after nearly 20 years of being on the front line in supporting the charity, but would remain as advisers to oversee the transition to the new regime. As a result two new trustees, Lieutenant Colonel (Retired) Neil Russell and Ciaran Scanlon were recruited and appointed during the year.
It is with great sadness that the trustees have to announce the death of Allan Sims, who was a founding trustee and a stalwart of the charity since its inception in 2005. Allan's common sense, good humour and financial acumen have contributed to over 250,000 boxes being sent to UK troops on operations away from from friends and family over Christmas over the last 19 years. He will be sorely missed - RIP.
Page 3
Operation Christmas Box (Registered number: 05523632)
Report of the Trustees for the Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Our Patron
James Gray, MP for North Wiltshire from 1997 to 2024, accepted the trustees' invitation to become Patron of Operation Christmas Box in 2017. James is very sympathetic to HM Forces having had a short military career (1977-84) in the Honourable Artillery Company (HAC).
He is very enthusiastic about the work that the charity does and stands ready to assist the charity's work in whatever capacity that he can.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 30 September 2024 and signed on its behalf by:
Colonel (Retd) S R Sharman - Trustee
Page 4
Independent Examiner's Report to the Trustees of Operation Christmas Box
Independent examiner's report to the trustees of Operation Christmas Box ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts 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 accounts 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 accounts to be reached.
Hilary Julian BA FCA DChA
Maximus Accountancy Services Limited 47 Kensington Road Chichester West Sussex PO19 7XS
30 September 2024
Page 5
Operation Christmas Box
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 127,753 Investment income 3 1,948 Total 129,701 EXPENDITURE ON Raising funds 4 17,373 Charitable activities 5 Christmas Boxes 126,153 Total 143,526 Net gains/(losses) on investments - NET INCOME/(EXPENDITURE) (13,825) RECONCILIATION OF FUNDS Total funds brought forward 165,645 TOTAL FUNDS CARRIED FORWARD 151,820 |
Restricted fund £ - - - - - - - - - - |
2023 Total funds £ 127,753 1,948 129,701 17,373 126,153 143,526 - (13,825) 165,645 151,820 |
2022 Total funds £ 128,170 4,155 132,325 16,105 139,771 155,876 (40,066) (63,617) 229,262 165,645 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
Operation Christmas Box (Registered number: 05523632)
Balance Sheet
31 December 2023
| Unrestricted funds Notes £ FIXED ASSETS Investments 9 - CURRENT ASSETS Debtors 10 26,849 Cash at bank 127,771 154,620 CREDITORS Amounts falling due within one year 11 (2,800) NET CURRENT ASSETS 151,820 TOTAL ASSETS LESS CURRENT LIABILITIES 151,820 NET ASSETS 151,820 FUNDS 12 Unrestricted funds: General fund TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
2023 Total funds £ - 26,849 127,771 154,620 (2,800) 151,820 151,820 151,820 151,820 151,820 |
2022 Total funds £ 4,838 27,711 135,082 162,793 (1,986) 160,807 165,645 165,645 165,645 165,645 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30 September 2024 and were signed on its behalf by:
Colonel (Retd) S R Sharman - Trustee
The notes form part of these financial statements
Page 7
Operation Christmas Box
Notes to the Financial Statements for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at their fair value, in accordance with the SORP.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from sponsorship of the Christmas boxes is recognised in the period to which it relates.
Donations are recognised when received. Donations in the form of gifts in kind are recognised as income when distributed, or when the service is received, with an equivalent amount being included as expenditure. Gifts in kind are valued at an estimate of the market value the charity would have to pay for an equivalent item or service.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable expenditure relates to the cost of the Christmas boxes and related support costs. Support costs includes expenditure on management and administration of the charity including trustees' expenses and the independent examiner's fees.
The cost of raising funds includes expenditure on social media, fundraising activities and investment management costs.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently they are measured at fair value with changes recognised in net gains/(losses) in the SoFA if the shares are publicly traded or the fair value can otherwise be measured reliably.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised as expenditure.
continued...
Page 8
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Donations | 127,753 | 128,170 |
Donations include £12,000 (2022: £3,000) in respect of donated services. The equivalent expenditure in included as fundraising expenditure.
3. INVESTMENT INCOME
| Income from listed investments Income from unlisted investments Bank interest 4. RAISING FUNDS Raising donations and legacies Outsourced social media and fundraising support Website costs Fundraising events Travelling expenses Investment management costs Portfolio management Aggregate amounts |
2023 £ - - 1,948 1,948 2023 £ 12,000 517 3,017 1,822 17,356 2023 £ 17 17,373 |
2022 £ 3,440 605 110 4,155 2022 £ 12,000 324 3,698 - |
|---|---|---|
| 16,022 | ||
| 2022 £ 83 16,105 |
continued...
Page 9
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
5. CHARITABLE ACTIVITIES COSTS
| Christmas Boxes 6. SUPPORT COSTS Christmas Boxes |
Direct Costs £ 124,042 |
Support costs (see note 6) £ 2,111 |
Totals £ 126,153 |
|---|---|---|---|
| Charity running costs £ 2,111 |
Support costs include £500 payable to the independent examiner in respect of the independent examination (2022: £500) and £900 (2022: £900) for other services.
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
Three trustees were reimbursed a total of £654 for travel and subsistence expenses incurred whilst carrying out their duties (2022 one trustee was reimbursed a total of £112).
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 128,170 Investment income 4,155 Total 132,325 EXPENDITURE ON Raising funds 16,105 Charitable activities Christmas Boxes 139,771 Total 155,876 Net gains/(losses) on investments (40,066) NET INCOME/(EXPENDITURE) (63,617) RECONCILIATION OF FUNDS Total funds brought forward 229,262 |
Restricted fund £ - - - - - - - - - |
Total funds £ 128,170 4,155 132,325 16,105 139,771 155,876 (40,066) (63,617) 229,262 |
|---|---|---|
continued...
Page 10
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | fund | funds | |||
| £ | £ | £ | |||
| TOTAL FUNDS CARRIED FORWARD | 165,645 | - | 165,645 | ||
| 9. | FIXED ASSET INVESTMENTS | ||||
| Unlisted | |||||
| investments | |||||
| £ | |||||
| MARKET VALUE | |||||
| At 1 January 2023 | 4,838 | ||||
| Disposals | (4,838) | ||||
| At 31 December 2023 | - | ||||
| NET BOOK VALUE | |||||
| At 31 December 2023 | - | ||||
| At 31 December 2022 | 4,838 | ||||
| Unlisted investments are valued at the recoverable amount of the loan portfolio at the balance | sheet date. There | ||||
| were no investment assets outside the UK. | |||||
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Other debtors | 26,849 | 27,711 | |||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Trade creditors | - | 586 | |||
| Other creditors | 2,800 | 1,400 | |||
| 2,800 | 1,986 |
continued...
Page 11
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 165,645 165,645 Incoming resources £ 129,701 129,701 |
Net movement At in funds 31.12.23 £ £ (13,825) 151,820 (13,825) 151,820 Resources Movement expended in funds £ £ (143,526) (13,825) (143,526) (13,825) |
|---|---|---|
Comparatives for movement in funds
| Net movement At 1.1.22 in funds £ £ Unrestricted funds General fund 227,977 (63,617) Fair value reserve 1,285 - 229,262 (63,617) TOTAL FUNDS 229,262 (63,617) Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 132,325 (155,876) TOTAL FUNDS 132,325 (155,876) |
Transfers between At funds 31.12.22 £ £ 1,285 165,645 (1,285) - - 165,645 - 165,645 Gains and Movement losses in funds £ £ (40,066) (63,617) (40,066) (63,617) |
|---|---|
continued...
Page 12
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
13. RELATED PARTY DISCLOSURES
As referred to in the trustees' report, the Christmas Boxes were sourced from a Chinese manufacturer, Box, Tray & Giraffe Inc. As the arrangements are not yet in place for the charity to deal direct with the Chinese manufacturer, or to handle the importation of the boxes, the charity was again assisted by an experienced importer, Xpedent UK Limited, for the all-in price of £124,042. Xpedent UK Limited is owned and managed by the adult children of Allan Sims, who was a trustee of the charity throughout the year.
14. PROVISION OF ADDITIONAL SERVICES
In common with many charities of a similar size the independent examiner prepares the statutory report and accounts on behalf of the trustees. The trustees are responsible for the accounts of the charity and the trustees review and approve the accounts once these have been prepared on their behalf. The independent examiner also prepares the corporation tax computation and return for the approval of the trustees.
Page 13
| Page | |
|---|---|
| Reference andAdministrativeDetails | I |
| ReportoftheTrustees | 2to4 |
| Independent Examiner's Report | 5 |
| StatementolFinancialActivities | 6 |
| BalanceSheet | 7 |
| Notestothe FinancialStatements | 8to13 |
| DetailedStatementofFinancialActivities | t4 |
| (lncorporatinganIncome and Expenditure Acc fortheYearEnded3lDecember2023 |
ount) | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | f | f. | f. | f. | |
| INCOMEAND ENDOWMENTS FROM | |||||
| Donationsandlegacies | 2 | t27,753 | t27,753 | 128,170 | |
| Investment income | 3 | 1,948 | 1,948 | 4,155 | |
| Total | t29,701 | l29,l0r | t32,325 | ||
| EXPENDITUR.EON | |||||
| Raising funds | 4 | t7,373 | t7,373 | ló,105 | |
| Charitableactivities | 5 | ||||
| Christmas Boxes | 126,t53 | 126,153 | t39,771 | ||
| Total | t43,526 | 143,526 | 155,876 | ||
| Net gains/(losses) on investments | (40,066 ) | ||||
| NET TNCOME(EXPENDITURE) | (r3,82s) | (13,825) | (63,617) | ||
| RECONCILTATION OFFUNDS | |||||
| Totalfunds broughtforward | 165,645 | t65,645 | 229,262 | ||
| TOTALFUNDSCARRIEDFORWARD | 151,820 | 151,820 : |
t65,645 : |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unlestricted | Restricted | Total | Total | ||
| funds | fund | funds | funds | ||
| Notes | f | r. | r. | f. | |
| FIXEDASSETS | |||||
| Investments | 9 | 4,838 | |||
| CURRENTASSETS | |||||
| Debtors | t0 | 26,849 | 26,849 | 2t,7rl | |
| Cash atbank | r27 ,77 | 127,77 | |||
| r54,620 | t54,620 | 162,793 | |||
| CR-EDITORS Amounts fallingduewithinoneyear |
11 | (2,800) | (2,800) | (1,e86) |
|
| NET CURRENTASSETS | 151,820 | 151,820 | 160,807 | ||
| TOTALASSETS LESSCURRENT LIABILITIES |
151,820 | 15r,820 | t65,645 | ||
| NETASSETS | 151,820 | 151,820 | 165,645 : |
||
| l.'UNDS | t2 | ||||
| Unrestricted funds: | |||||
| Generalfund | 151,820 | 165,645 | |||
| TOTALFUNDS | l51,820 | t65,645 |
| DONATIONSAI\DLEGACIES | |||
|---|---|---|---|
| 2023 | 2022 | ||
| r. | r. | ||
| Donations | r27,753 : |
t28,t70 |
| INVESTMENTINCOME | ||
|---|---|---|
| 2023 | 2022 | |
| f | f | |
| Incomefromlisted investments | 3,440 | |
| Incomefromunlisted investments | 605 | |
| Bank interest | 1,948 | ll0 |
| 1,948 : |
4,155 : |
|
| RAISINGFUNDS | ||
| Raising donations andlegacies | ||
| 2023 | 2022 | |
| f | f. | |
| Outsourced social media and fundraising support | 12,000 | 12,000 |
| Websitecosts | 517 | 324 |
| Fundraisingevents | 3,017 | 3,698 |
| Travellingexpenses | 1,822 | |
| t7,356 : |
t6,022 : |
|
| Investment manâgementcosts | ||
| 2023 | 2022 | |
| r. | f | |
| Portfoliomanagement | t7 | 83 |
| Aggregate amounts | t7,373 | ló,105 |
| CHARITABLE ACTIVITIESCOSTS | |||||
|---|---|---|---|---|---|
| Support | |||||
| Direct | costs (see | ||||
| Costs f |
note6) f. |
Totals f |
|||
| Christmas Boxes | : | t24,042 | : | 2,ttl | 126,153 |
| SUPPORTCOSTS | |||||
| Charity | |||||
| running | |||||
| costs | |||||
| f. | |||||
| Christmas Boxes | 2,ltl |
| COMPARATIVESFORTHESTATEMENT OFFIN | ANCIAL ACTIVITIES | ||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| funds | fund | funds | |
| f | f. | f. | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations andlegacies | t28,t70 | t28,r70 | |
| Investment income | 4,t55 | 4,155 | |
| Total | 132,325 | t32,325 | |
| EXPENDITUREON | |||
| Raising funds | 16,105 | 16,r05 | |
| Charitableactivities | |||
| Christmas Boxes | t39,77t | 139,71t | |
| Total | I55,876 | 155,876 | |
| Net gains/(losses) on investments | (40,066) | (40,066 ) | |
| NETINCOME(EXPENDITURE) | (63,6t7) | (63,6t7) | |
| RECONCILIATIONOFFUNDS | |||
| Totalfunds broughtforward | 229,262 | 229,262 |
| 8. | COMPARATIVESFORTHE STATEMENT OFFINANCIAL ACTIVITIES- continued | COMPARATIVESFORTHE STATEMENT OFFINANCIAL ACTIVITIES- continued | COMPARATIVESFORTHE STATEMENT OFFINANCIAL ACTIVITIES- continued | |
|---|---|---|---|---|
| UnreshictedRestricted | Total | |||
| funds | fund | funds | ||
| r. | f. | f | ||
| TOTALFUNDSCARRIED FORWARD | 165,645 | 165,645 | ||
| : | ||||
| 9. | FIXEDASSETINVESTMENTS | |||
| Unlisted | ||||
| investrnents | ||||
| f. | ||||
| MARKET VALUE | ||||
| AtIJanuary2023 | 4,838 | |||
| Disposals | (4,838 ) | |||
| At31 December 2023 | ||||
| NET BOOKVALUE | ||||
| At3lDecember 2023 | ||||
| At31 December 2022 | 4,838 |
| 10. | Unlistedinvestments are valuedattherecoverableamountoftheloanportfoli were no investmentassetsoutsidetheUK. DEBTORS: AMOUNTSFALLINGDUEWITHINONE YEAR |
oat the balanceshe | etdate.Th |
|---|---|---|---|
| 2023 | 2022 | ||
| r. | f | ||
| Other debtors | 26,849 | 21,1tl^ | |
| II. | CREDITORS: AMOUNTSFALLINGDUEWITHINONEYEAR | ||
| 2023 | 2022 | ||
| f. | f. | ||
| Trade creditors | 586 | ||
| Other creditors | 2,800 | 1,400 | |
| 2,800 : |
1,986 : |
| MOVEMENT INFUNDS | ||||||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At1.1.23 | in funds | 3t.12.23 | ||||
| r. | f | f | ||||
| Unrestricted funds | ||||||
| General fund | t65,645 | (13,82s) | 151,820 | |||
| TOTALFUNDS | 165,645 | (13,825 ) | l51,820 : |
|||
| Net movementinfunds, included in theabove | areasfollows: | |||||
| Incoming | Resources | Movement | ||||
| resources | expended | infunds | ||||
| f | f. | T | ||||
| Unrestrictedfunds | ||||||
| Generalfund | t2e,70r | (t43,s26) | (13,825) | |||
| TOTALFUNDS | 129,70r : |
(t43,s26) | (13,825) : |
|||
| Comparativesformovement in funds | ||||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At1.1.22 | in funds | funds | 3t.12.22 | |||
| f. | r. | f. | r. | |||
| Unrestrictedfunds | ||||||
| Generalfund | 227,977 | (63,617) | t,285 | t65,645 | ||
| Fair valuereserve | t,285 | (l,285) | ||||
| 229,262 | (63,617) | 165,645 | ||||
| TOTALFUNDS | 229,262 : |
(63,617 ) : |
: | t65,645 | ||
| Comparative net movementinfunds, included | in theabove areasfollows: | |||||
| IncomingResources | Gainsand | Movement | ||||
| resourcesexpended f. r. |
losses f. |
in funds f, |
||||
| Unrestrictedfunds | ||||||
| Generalfund | t3232s | (15s,876) | (40,066) | (63,6t7) | ||
| TOTALFUNDS | I1?1?5 : |
(155,876) | (40,066) | (63,6t7) |
| DetailedStatementofFinancialActivities forthe YearEnded3IDecember 2023 |
||
|---|---|---|
| 2023 | 2022 | |
| f | f | |
| INCOMEAND ENDOWMENTS | ||
| Donations andlegacies | ||
| Donations | t27,753 | 128,170 |
| Investment income | ||
| Incomefromlisted investments | 3,440 | |
| Incomefromunlisted investments | 605 | |
| Bank interest | 1,948 | 110 |
| 1,948 | 4,r55 | |
| Totalincomingresources | t29,70t | 132,325 |
| EXPENDITURE | ||
| Raising donations andlegacies | ||
| Outsourced social mediaandfundraising support | 12,000 | 12,000 |
| Websitecosts | 5t7 | 324 |
| Fundraisingevents | 3,0t1 | 3,698 |
| Travellingexpenses | 1,822 | |
| n,356 | t6,022 | |
| Investment managementcosts | ||
| Portfoliomanagement | tt | 83 |
| Charitableactivities | ||
| CostofChristmas boxes | 124,042 | 137,734 |
| Supportcosts | ||
| Charityrunningcosts | ||
| Insurance | tt2 | IT2 |
| Postage andstationery | 6 | 70 |
| Sundries | 593 | 455 |
| Accountancyfees | 900 | 900 |
| Independent examination | 500 | 500 |
| 2,ttl | 2,037 | |
| Totalresources expended | t43,526 | 155,876 |
| Net expenditure beforegainsandlosses | (13,825) | (23,5s1) |
| Realisedrecognised gainsandlosses | ||
| Realised gains/(losses) onfixedassetinvestments | (40,066) | |
| Net expenditure | (13,825 ) | (63,617) |
REGISTERED COMPANY NUMBER: 05523632 (England and Wales) REGISTERED CHARITY NUMBER: 1112260
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for
Operation Christmas Box
Maximus Accountancy Services Limited 47 Kensington Road Chichester West Sussex PO19 7XS
Operation Christmas Box
Contents of the Financial Statements for the Year Ended 31 December 2023
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 13 |
Operation Christmas Box
Reference and Administrative Details for the Year Ended 31 December 2023
TRUSTEES Mr A Sims (resigned 1.2.2024) Mrs S Little (resigned 1.2.2024) Wing Commander (Retd) C Wookey (resigned 1.2.2024) Colonel (Retd) S R Sharman Mr C T Scanlon (appointed 1.3.2023) Lt Colonel (Retd) N Russell (appointed 4.10.2023) REGISTERED OFFICE Castle Hill Barns New Hill Hough on the Hill Grantham Lincolnshire NG32 2AZ REGISTERED COMPANY 05523632 (England and Wales) NUMBER REGISTERED CHARITY 1112260 NUMBER INDEPENDENT EXAMINER Maximus Accountancy Services Limited 47 Kensington Road Chichester West Sussex PO19 7XS
Page 1
Operation Christmas Box (Registered number: 05523632)
for the Year Ended 31 December 2023
Report of the Trustees
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects for which the charity was established are to help improve the morale of the UK Armed Forces, through charitable means, by promoting the well-being and esprit de corps of all those on military service. This is achieved, primarily, by providing Christmas Boxes to all unaccompanied personnel serving on operations and overseas, who are away from their families and loved ones on Christmas Day each year.
The charity cannot operate without assistance from the Ministry of Defence (MOD) which provides estimates of numbers likely to be away, and locations. It also provides senior military officers to sit on the MOD Christmas Box Committee and who give their advice on items and the suitability of the Christmas Box contents. The MOD assists with the Christmas Box distribution using irreducible spare capacity in their supply chain in the early autumn each year.
Public benefit
The trustees confirm that when reviewing the charity's aims and objectives, and in the planning of future activities, they have consulted the guidance in the Charity Commission's Guidance on Public Benefit .
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity continues to deliver annually against its main task of providing a morale boosting gift box to all unaccompanied UK military personnel serving overseas on Christmas Day.
Following the name change to Operation Christmas Box at the beginning of 2019, the trustees believe that the name is becoming more well known within the Armed Forces but there is still much work to do.
The 2023 Christmas Box contents were compiled with help from the military members of the MOD Christmas Box Committee and ideas suggested by serving personnel. The annual planning meeting, held during late autumn of 2022, set out a proposed list of the contents for the 2023 box. The trustees subsequently confirmed the final list with the assistance of Box, Tray & Giraffe Inc, our Chinese supplier. The trustees contracted to purchase 8,500 Christmas Boxes for 2023. As in previous years, the feedback from a number of commanding officers and individuals was excellent, and the boxes undoubtedly achieved the charity's aim of improving the morale of all those UK troops who were on operations away from friends and families on Christmas Day 2023.
Fundraising activities
Despite the large numbers of UK Armed Forces still on operations, raising sponsorship can be a challenge. However, the trustees have retained key sponsors, in particular The Nuffield Trust for Forces of the Crown and The Gosling Foundation, both of whom greatly value what the charity delivers.
The Sponsors golf day, that had been postponed from September 2022 due to the death of HM The Queen, took place at the Ash Valley Golf Club in June 2023. The event was a great success, raising awareness of the charity across defence, as well as generating donations of £15,124 (including £13,500 which was received in 2022).
Social Media
An ex-RN sailor has continued to act as a social media consultant on a part time pro bono basis, which has ensured a good social media presence. This has enabled the trustees to provide an impressive array of social media comments and images from Christmas Box recipients around the world. It has also enabled images of the boxes and contents taken in theatre to be included on our website and forwarded to our sponsors.
Thanks
The trustees would like to reiterate their thanks to both the MOD and to Box, Tray & Giraffe Inc. The trustees are also most grateful to Good Logistics Group for their assistance in unloading the container from Felixstowe, and with palletising and shrink wrapping the boxes before sending the boxes for distribution to their final destinations.
Page 2
Operation Christmas Box (Registered number: 05523632)
Report of the Trustees
for the Year Ended 31 December 2023
FINANCIAL REVIEW
Financial position
During the year the charity received donations amounting to £127,753 (2022: £128,170). The direct cost of the Christmas Boxes for Christmas 2023 was £124,042 (2022: £137,734), and the cost of generating funds amounted to £17,356 (2022: £16,022).
The overall deficit for the year, after taking into account other income, realised and unrealised gains and losses on investments, and the minimal support and governance costs, amounted to £13,825 (2022: deficit of £63,617), none of which is restricted. At the year end the unrestricted reserves amounted to £151,820 (2022: £165,645).
Reserves and investments
The charity operates on a year by year basis with purchase costs known in advance. The trustees are required to pay a 30% deposit when placing the order for the Christmas Boxes and the balance 45 days after receipt of the bill of lading. They have always considered that they should have reserves to cover the average cost of two years of boxes at a realistic level (eg 9,000 boxes per year at £15 per box) of around £270,000. The trustees have achieved this in previous years but they are now struggling to maintain this level of income, and reserves are currently equivalent to a little over one year's running costs including the Christmas Boxes.
As interest rates have improved, and markets continue to be volatile, the trustees agreed to liquidate the investment portfolio in the prior year so that reserve funds were held as cash as at the year end, pending a decision on the charity's future investment strategy.
FUTURE PLANS
The future is looking positive, with a new approach to sponsorship aiming to secure funds on a two year basis, rather than on an annual basis. Whilst this concept is still in its infancy the signs are encouraging as it enables the charity to present a more joined up and considered financial profile to prospective sponsors who are willing to consider funding for two, rather than just one year of delivery.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The charity was incorporated on 1 August 2005 and registered as a charity on 24 November 2005. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. None of the trustees has any beneficial interest in the charity. In the event of the charity being wound up the members are required to contribute an amount not exceeding £1.
The charity was originally known as UK4U-Thanks and changed its name to Operation Christmas Box with effect from 28 February 2018 as this is deemed more representative of the charity's raison d'etre.
Recruitment and appointment of new trustees
The day to day management of the affairs of the charity is undertaken by the trustees.
The trustees were approached to act as trustees due to their connection with the military. Given the nature of the charity's activities no formal induction or training is considered to be required. The trustees are aware of their responsibilities and take advice from the Charity Commission and professional advisers as the need arises.
At the beginning of 2023 three of the founding trustees, Sally Little, Allan Sims and Charles Wookey, confirmed that they would be resigning as trustees after nearly 20 years of being on the front line in supporting the charity, but would remain as advisers to oversee the transition to the new regime. As a result two new trustees, Lieutenant Colonel (Retired) Neil Russell and Ciaran Scanlon were recruited and appointed during the year.
It is with great sadness that the trustees have to announce the death of Allan Sims, who was a founding trustee and a stalwart of the charity since its inception in 2005. Allan's common sense, good humour and financial acumen have contributed to over 250,000 boxes being sent to UK troops on operations away from from friends and family over Christmas over the last 19 years. He will be sorely missed - RIP.
Page 3
Operation Christmas Box (Registered number: 05523632)
Report of the Trustees for the Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT Our Patron
James Gray, MP for North Wiltshire from 1997 to 2024, accepted the trustees' invitation to become Patron of Operation Christmas Box in 2017. James is very sympathetic to HM Forces having had a short military career (1977-84) in the Honourable Artillery Company (HAC).
He is very enthusiastic about the work that the charity does and stands ready to assist the charity's work in whatever capacity that he can.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 30 September 2024 and signed on its behalf by:
Colonel (Retd) S R Sharman - Trustee
Page 4
Independent Examiner's Report to the Trustees of Operation Christmas Box
Independent examiner's report to the trustees of Operation Christmas Box ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts 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 accounts 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 accounts to be reached.
Hilary Julian BA FCA DChA
Maximus Accountancy Services Limited 47 Kensington Road Chichester West Sussex PO19 7XS
30 September 2024
Page 5
Operation Christmas Box
Statement of Financial Activities
(Incorporating an Income and Expenditure Account) for the Year Ended 31 December 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 127,753 Investment income 3 1,948 Total 129,701 EXPENDITURE ON Raising funds 4 17,373 Charitable activities 5 Christmas Boxes 126,153 Total 143,526 Net gains/(losses) on investments - NET INCOME/(EXPENDITURE) (13,825) RECONCILIATION OF FUNDS Total funds brought forward 165,645 TOTAL FUNDS CARRIED FORWARD 151,820 |
Restricted fund £ - - - - - - - - - - |
2023 Total funds £ 127,753 1,948 129,701 17,373 126,153 143,526 - (13,825) 165,645 151,820 |
2022 Total funds £ 128,170 4,155 132,325 16,105 139,771 155,876 (40,066) (63,617) 229,262 165,645 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
Operation Christmas Box (Registered number: 05523632)
Balance Sheet
31 December 2023
| Unrestricted funds Notes £ FIXED ASSETS Investments 9 - CURRENT ASSETS Debtors 10 26,849 Cash at bank 127,771 154,620 CREDITORS Amounts falling due within one year 11 (2,800) NET CURRENT ASSETS 151,820 TOTAL ASSETS LESS CURRENT LIABILITIES 151,820 NET ASSETS 151,820 FUNDS 12 Unrestricted funds: General fund TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
2023 Total funds £ - 26,849 127,771 154,620 (2,800) 151,820 151,820 151,820 151,820 151,820 |
2022 Total funds £ 4,838 27,711 135,082 162,793 (1,986) 160,807 165,645 165,645 165,645 165,645 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30 September 2024 and were signed on its behalf by:
Colonel (Retd) S R Sharman - Trustee
The notes form part of these financial statements
Page 7
Operation Christmas Box
Notes to the Financial Statements for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at their fair value, in accordance with the SORP.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Income from sponsorship of the Christmas boxes is recognised in the period to which it relates.
Donations are recognised when received. Donations in the form of gifts in kind are recognised as income when distributed, or when the service is received, with an equivalent amount being included as expenditure. Gifts in kind are valued at an estimate of the market value the charity would have to pay for an equivalent item or service.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable expenditure relates to the cost of the Christmas boxes and related support costs. Support costs includes expenditure on management and administration of the charity including trustees' expenses and the independent examiner's fees.
The cost of raising funds includes expenditure on social media, fundraising activities and investment management costs.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently they are measured at fair value with changes recognised in net gains/(losses) in the SoFA if the shares are publicly traded or the fair value can otherwise be measured reliably.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised as expenditure.
continued...
Page 8
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Donations | 127,753 | 128,170 |
Donations include £12,000 (2022: £3,000) in respect of donated services. The equivalent expenditure in included as fundraising expenditure.
3. INVESTMENT INCOME
| Income from listed investments Income from unlisted investments Bank interest 4. RAISING FUNDS Raising donations and legacies Outsourced social media and fundraising support Website costs Fundraising events Travelling expenses Investment management costs Portfolio management Aggregate amounts |
2023 £ - - 1,948 1,948 2023 £ 12,000 517 3,017 1,822 17,356 2023 £ 17 17,373 |
2022 £ 3,440 605 110 4,155 2022 £ 12,000 324 3,698 - |
|---|---|---|
| 16,022 | ||
| 2022 £ 83 16,105 |
continued...
Page 9
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
5. CHARITABLE ACTIVITIES COSTS
| Christmas Boxes 6. SUPPORT COSTS Christmas Boxes |
Direct Costs £ 124,042 |
Support costs (see note 6) £ 2,111 |
Totals £ 126,153 |
|---|---|---|---|
| Charity running costs £ 2,111 |
Support costs include £500 payable to the independent examiner in respect of the independent examination (2022: £500) and £900 (2022: £900) for other services.
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
Three trustees were reimbursed a total of £654 for travel and subsistence expenses incurred whilst carrying out their duties (2022 one trustee was reimbursed a total of £112).
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 128,170 Investment income 4,155 Total 132,325 EXPENDITURE ON Raising funds 16,105 Charitable activities Christmas Boxes 139,771 Total 155,876 Net gains/(losses) on investments (40,066) NET INCOME/(EXPENDITURE) (63,617) RECONCILIATION OF FUNDS Total funds brought forward 229,262 |
Restricted fund £ - - - - - - - - - |
Total funds £ 128,170 4,155 132,325 16,105 139,771 155,876 (40,066) (63,617) 229,262 |
|---|---|---|
continued...
Page 10
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||
| funds | fund | funds | |||
| £ | £ | £ | |||
| TOTAL FUNDS CARRIED FORWARD | 165,645 | - | 165,645 | ||
| 9. | FIXED ASSET INVESTMENTS | ||||
| Unlisted | |||||
| investments | |||||
| £ | |||||
| MARKET VALUE | |||||
| At 1 January 2023 | 4,838 | ||||
| Disposals | (4,838) | ||||
| At 31 December 2023 | - | ||||
| NET BOOK VALUE | |||||
| At 31 December 2023 | - | ||||
| At 31 December 2022 | 4,838 | ||||
| Unlisted investments are valued at the recoverable amount of the loan portfolio at the balance | sheet date. There | ||||
| were no investment assets outside the UK. | |||||
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Other debtors | 26,849 | 27,711 | |||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Trade creditors | - | 586 | |||
| Other creditors | 2,800 | 1,400 | |||
| 2,800 | 1,986 |
continued...
Page 11
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 165,645 165,645 Incoming resources £ 129,701 129,701 |
Net movement At in funds 31.12.23 £ £ (13,825) 151,820 (13,825) 151,820 Resources Movement expended in funds £ £ (143,526) (13,825) (143,526) (13,825) |
|---|---|---|
Comparatives for movement in funds
| Net movement At 1.1.22 in funds £ £ Unrestricted funds General fund 227,977 (63,617) Fair value reserve 1,285 - 229,262 (63,617) TOTAL FUNDS 229,262 (63,617) Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 132,325 (155,876) TOTAL FUNDS 132,325 (155,876) |
Transfers between At funds 31.12.22 £ £ 1,285 165,645 (1,285) - - 165,645 - 165,645 Gains and Movement losses in funds £ £ (40,066) (63,617) (40,066) (63,617) |
|---|---|
continued...
Page 12
Operation Christmas Box
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
13. RELATED PARTY DISCLOSURES
As referred to in the trustees' report, the Christmas Boxes were sourced from a Chinese manufacturer, Box, Tray & Giraffe Inc. As the arrangements are not yet in place for the charity to deal direct with the Chinese manufacturer, or to handle the importation of the boxes, the charity was again assisted by an experienced importer, Xpedent UK Limited, for the all-in price of £124,042. Xpedent UK Limited is owned and managed by the adult children of Allan Sims, who was a trustee of the charity throughout the year.
14. PROVISION OF ADDITIONAL SERVICES
In common with many charities of a similar size the independent examiner prepares the statutory report and accounts on behalf of the trustees. The trustees are responsible for the accounts of the charity and the trustees review and approve the accounts once these have been prepared on their behalf. The independent examiner also prepares the corporation tax computation and return for the approval of the trustees.
Page 13