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2024-04-30-accounts

CHARITY REGISTRATION NUMBER: 1142494

FELIX FUND - THE BOMB DISPOSAL CHARITY UNAUDITED FINANCIAL STATEMENTS 30 APRIL 2024

VINEYARD ACCOUNTANTS

Chartered Certified Accountants 5 The Chambers Vineyard Abingdon-on-Thames

FELIX FUND - THE BOMB DISPOSAL CHARITY

FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2024

Page
Trustees' annual report 1
Independent examiner's report to the trustees 9
Statement of financial activities 10
Statement of financial position 11
Notes to the financial statements 12
The following pages do not form part of the financial statements
Detailed statement of financial activities 22

FELIX FUND - THE BOMB DISPOSAL CHARITY

TRUSTEES' ANNUAL REPORT

YEAR ENDED 30 APRIL 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 30 April 2024.

Objectives and activities

The objectives of Felix Fund are as follows:-

The relief in need of:

  1. a) any serving or former military personnel who have either conducted or assisted EOD duties.

  2. b) families and dependants of such personnel by the provision of welfare services, support and financial assistance and such other charitable means as the trustees think fit.

  3. To promote military efficiency of the EOD community by supporting adventure training and other welfare activities through such charitable means as the trustees think fit.

  4. To promote military efficiency by commemorating and sustaining the memories of those within the EOD community who have lost their lives in the course of executing their EOD duties.

Public benefit statement

The Trustees of Felix Fund confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

Achievements and performance

During 2023/24; Felix Fund again focused on helping with the continued increase in poor mental health among serving personnel and veterans. The Dashboard program evolved further with increased take up for the week-long residential course which has seen us add additional places to many of the dates over the past year. The onsite variation continued with regular dates at Carver Barracks, Wimbish, 521 Squadron Edinburgh and MWD. These continue to be delivered on request only. We undertook a review of the Dashboard program in order to plan its delivery for 2024/25 and beyond. This was based on cost, resources and demand.

In May and November 2023, we ran Spouses or Partners Dashboard weekends, which saw twenty wives and partners benefit from their own bespoke training. Following the success of this we will be running two further courses in 2025.

Alongside the preventative stress training Felix Fund continues to provide financial assistance to serving personnel, veterans, and their dependant family members, in times of need.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 30 APRIL 2024

Achievements and performance (continued)

Examples of help during this financial year include:

Felix Fund has always prided itself on how quickly we can react to requests for help, and we are even able to turn urgent grants around in a matter of hours. For a small charity we continue to make a significant difference to the community we serve.

Fundraising activities

In 2023/24, the total fundraising income, including donations was £171,385 (2023 - £127,030).

The effects of the cost-of-living crisis continue to be felt during 2023/24 with fewer donations of corporate support coming in. There was, however, a continued increase in individuals wanting to fundraise through a variety of challenge events.

The appointment of a Fundraising Manager who started work in April 2023 allowed us to start building relationships with more corporates, individuals and other organisations which has led to a variety of support not just financial. Alford Technologies provided their studio and film maker to create a large number of short films sound bites and podcasts for use across our social media platforms.

The Gala Dinner held in Sept 2023 was a great success and helped the charity reconnect with many supporters after the years of the pandemic raising £38,847 after costs, towards charity objectives.

A program of applications to trusts and grants remains in place, with good results in the main.

Trustees' responsibilities in relation to the accounts

Law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial period which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing those accounts, the trustees are required to:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. 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.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 30 APRIL 2024

Financial review

Reserves

The term is used to describe that part of the charity's funds that are freely available to fund its general operations and are not subject to commitments, planned expenditure or other restrictions. Reserves do not include endowment funds, restricted funds, and designated funds.

The total reserves held at 30 April 2024 amounted to £298,830 (2023 - £489,498), which is made up as follows:

At 30 April 2024 unrestricted funds amounted to £288,215 (2023 - £469,708), of which £47,352 was designated (2023 - £191,637) to the Holly Angharad Davies fund, Dashboard fund and Veterans fund.

During the year £11,767 was transferred from unrestricted funds to the Dashboard fund to allow us to cover our work in running Dashboard programs.

At 30 April 2024 restricted funds amounted to £10,615 (2023 - £19,790) in respect of Memorial fund, Dragon boat event and wages grants.

A detailed breakdown of all funds can be found in note 19 of the Financial Statements.

Deficit for the year

The results for the year have produced a deficit of £190,666 (2023 - £113,346). The deficit has arisen due to the timing of expenditure on the Dashboard courses, as the opening designated fund balance was fully expended in the year.

The charity has sufficient reserves to cover the deficit for the year and maintains strong controls over the charity's income, expenditure and cash flow.

Principle funding sources

The principle funding sources of the charity is that of donations and legacies. Donations can be received from individual donors, community fundraising and grants from trusts and foundations.

We also receive income from selling mechanise, investment income and gift aid.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 30 APRIL 2024

Financial review (continued)

Reserves policy

The Trustees continue to be conscious that the long-term needs of the EOD community's Afghanistan and Iraq veterans (and their families) are likely to be considerable. Future mental health issues and the costs of bereaved children's university education are of particular concern. The Trustees have therefore designated that Felix Fund should hold in reserve a minimum of one years running costs, this includes an estimate of grants provided based on previous years and the cost of two Dashboard courses based on approx. £10,000 per course.

Purpose of the reserves policy:

  1. To help the charity properly manage its resources.

  2. To help the charity to plan and formally report to stakeholders.

  3. A reserve policy helps the charity to match its reserves to its requirements and no more, otherwise the charity would hold reserves that are too high or too low.

What does this policy cover?

  1. The amount of reserves at the end of each month's balance sheet.

  2. The reason(s) why the charity needs this level of reserves.

  3. How the charity intends to establish and maintain reserves at the amount determined by the Trustees.

  4. How the Trustees are to review the reserves policy on a regular basis.

Setting the reserves level

Reserves are set up considering:

a) Cashflow

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FELIX FUND - THE BOMB DISPOSAL CHARITY

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 30 APRIL 2024

Financial review (continued)

Cash investments

The trustee board of Felix Fund has a long held view that due to the fluctuations in the Stock Market and our desire to be helping now, rather than in a decade's time, especially during the Afghanistan and Iraq conflicts, that our financial priority was on capital preservation and consistent returns. This previously meant holding funds in bank and building accounts. Within the onset of the banking crisis the board sought to ensure that no single account exceeded the FSCS limits of £85K, even if this meant a slight reduction in overall interest as the security of FSCS protection outweighed this in the board's mind.

The Charity holds cash investments with Flagstone, this allows us, for 0.25% annual fee to access more Financial Services Compensation Scheme (FSCS) products, paying far higher rates than was previously available on the high street. This product also has the advantage of less overall administration particularly relating to opening new accounts as Flagstone do all of the paperwork.

Our investment objectives are as follows:-

  1. Capital Preservation: The primary goal is to protect the principal amount invested and ensure the charity's funds are not exposed to significant market fluctuations.

  2. Steady Income Generation: Prioritise investments that provide a predictable and stable income stream to support the charity's ongoing operations and initiatives.

Risk management consideration factors:

  1. FSCS Protection: All deposits are placed with FSCS protected accounts and are not to exceed £85K total holdings with a single institution.

  2. Interest Rate Risk Mitigation: As outlined above we are spreading deposit maturities across different time horizons to reduce interest rate risks.

  3. Liquidity Management. Sufficient funds are held outside of Flagstone in the Charities current account to allow for 3 Months typical grant giving and running costs.

Safeguarding

Felix Fund is committed to pro-actively safeguarding children, young people, and vulnerable adults with whom trustees, staff, or volunteers, come into contact, during fundraising or welfare activities. Examples of charity activities in which staff may encounter children or vulnerable adults, include school visits, community sports projects and national or regional events.

The welfare and safety of the person at risk is paramount. All vulnerable people, regardless of age, disability, gender, racial heritage, religious belief, sexual orientation, or identity have a right to equal protection from all types of harm or abuse. Some of our beneficiaries and supporters are additionally at risk because of the impact of previous experiences, their level of dependency, communication need or other issues.

The charity takes all reasonable care to protect its beneficiaries and supporters and complies with the Institute of Fundraising guidance on treating donors fairly. Felix Fund will never exploit vulnerability and will do everything it can to ensure that potential donors are able to make an informed decision about the support they choose to give.

The charity is committed to the promotion of equality of opportunity. Our Equality and Diversity Policy aims to eliminate all forms of unlawful and unfair discrimination, both direct and indirect, from its employment practices.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 30 APRIL 2024

Financial review (continued)

Risk Assessments

The Trustees continue to review all risks which are then discussed and updated accordingly at each trustee meeting.

Structure, governance and management

Felix Fund is constituted under a Trust deed dated 6 April 2011, as amended by supplementary deed dated 13 January 2012, as amended by deed dated 18 October 2017 and is a registered charity no. 1142494.

The Trustees are clear about the charity needing to have processes and assurance mechanisms in place to maintain transparency and compliance with legal and regulatory requirements. Maintaining the trust and confidence of the public and fund donors is vital.

Regular Trustee meetings provide for holding to account, scrutiny, support and guidance and ensure that decision making is well informed and timely. Work continues to ensure our governance and all policies and procedures are in line with the legal requirements of the Fundraising Regulator and General Data Protection Regulations (GDPR), as well as those introduced by COBSEO (The Confederation of Service Charities).

Appointment and recruitment of new trustees

The Charity is managed by a board of Trustees.

  1. There must be at least three Trustees and a maximum of seven. Apart from the current full-term trustees, Brig Karl Frankland*, and Mr Daniel Reyland, every trustee will be appointed for a term of up to five years by a resolution of the trustees passed at a meeting.

*Karl Frankland resigned as trustee 5 December 2024.

  1. In selecting individuals for appointment as Trustees, the trustees must have regard to the Knowledge, Skills and Experience (KSE) needed for the effective administration of the Charity.

  2. The Charity (CEO) must keep a record of the name and address and the dates of appointment, re-appointment, and retirement of each trustee.

  3. Each new trustee, on his or her first appointment should be provided with an information pack containing:

  4. a. A copy of this governing document

  5. b. Guidance for Trustees document

  6. c. Vision & Mission Statements

  7. d. All relevant policies, including Conflict of Interest e. The Essential Trustee (CC3)

  8. f. Literature

  9. g. Employee Handbook

  10. h. Contact Request form

The current (two) full-term Trustees, as listed above hold office indefinitely, until resignation. Additional Trustees will be invited to join the Board for five years which can then be reviewed for an additional five years.

Trustees should be invited to retain a level of involvement with the charity when they reach the end of their second term as an ambassador. This will ensure the charity can continue to make best use of their knowledge and experience.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 30 APRIL 2024

Reference and administrative details

Registered charity name

Felix Fund - The Bomb Disposal Charity

Charity registration number 1142494 Principal office Vauxhall Barracks Foxhall Road Didcot Oxfordshire

The trustees

Brig (Retd) G Collett Cmd A Nekrews (Resigned 21 May 2024) SSgt K Scott M P Duckering (Appointed 10 January 2024) Brig K Frankland (Resigned 5 December 2024) Mr D Reyland Mr A J Pettitt (Appointed 10 January 2024) WO1 RSM P Clark (Resigned 9 October 2023)

Finance Officer Mrs E Fisher Independent examiner Helen Gee FCCA 5 The Chambers Vineyard Abingdon-on-Thames

Plans for future periods

It has been a challenging year for the charity with income down which is reflective of the cost-of-living crisis following the pandemic. We have taken steps to ensure the future survival of Felix Fund and will continue to focus on this.

Felix Fund has now been in existence for almost 14 years and our vision remains that by 2025 we will be a national charity fully resourced to administer the well-being needs of the UK's Explosive Ordnance Disposal (EOD) and Search communities, past, present, and future.

Our future activities will include:

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FELIX FUND - THE BOMB DISPOSAL CHARITY

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 30 APRIL 2024

Plans for future periods (continued)

The trustees' annual report was approved on 14 February 2025 and signed on behalf of the board of trustees by:

Mr D Reyland Chair of the Trustees

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FELIX FUND - THE BOMB DISPOSAL CHARITY

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FELIX FUND - THE BOMB DISPOSAL CHARITY

YEAR ENDED 30 APRIL 2024

I report to the trustees on my examination of the financial statements of Felix Fund - The Bomb Disposal Charity ('the charity') for the year ended 30 April 2024.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Helen Gee FCCA Independent Examiner

5 The Chambers Vineyard Abingdon-on-Thames

19 February 2025

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FELIX FUND - THE BOMB DISPOSAL CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 30 APRIL 2024

2024 2023
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 160,535 10,850 171,385 127,030
Other trading activities 5 7,193 – 7,193 13,008
Investment income 6 15,891 – 15,891 5,188
Other income 7 2,716 – 2,716 467
───────── ──────── ───────── ─────────
Total income 186,335 10,850 197,185 145,693
═════════ ════════ ═════════ ═════════
Expenditure
Expenditure on raising funds:
Costs of other trading activities 8 6,306 – 6,306 8,523
Expenditure on charitable activities 9,10 361,520 20,025 381,545 250,516
───────── ──────── ───────── ─────────
Total expenditure 367,826 20,025 387,851 259,039
═════════ ════════ ═════════ ═════════
───────── ──────── ───────── ─────────
Net expenditure and net movement in
funds (181,491) (9,175) (190,666) (113,346)
═════════ ════════ ═════════ ═════════
Reconciliation of funds
Total funds brought forward 469,706 19,790 489,496 602,844
───────── ──────── ───────── ─────────
Total funds carried forward 288,215 10,615 298,830 489,498
═════════ ════════ ═════════ ═════════

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

The notes on pages 12 to 20 form part of these financial statements.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

STATEMENT OF FINANCIAL POSITION

30 APRIL 2024

2024 2023
Note £ £ £
Current assets
Stocks 15 13,736 15,893
Debtors 16 5,113 1,828
Investments 17 236,066 170,000
Cash at bank and in hand 39,969 299,430
───────── ─────────
294,884 487,151
**Prepayments and accrued income ** 16 5,942 7,783
Creditors: amounts falling due within one year 18 1,996 5,436
───────── ─────────
Net current assets 298,830 489,498
───────── ─────────
Total assets less current liabilities 298,830 489,498
───────── ─────────
Net assets 298,830 489,498
═════════ ═════════
Funds of the charity
Restricted funds 10,615 19,790
Unrestricted funds 288,215 469,708
───────── ─────────
Total charity funds 19 298,830
═════════		 489,498
═════════

These financial statements were approved by the board of trustees and authorised for issue on 14 February 2025, and are signed on behalf of the board by:

Mr D Reyland Trustee

The notes on pages 12 to 20 form part of these financial statements.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2024

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Vauxhall Barracks, Foxhall Road, Didcot, Oxfordshire.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discount due.

Basis of preparation

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in Sterling, which is the functional currency of the charity.

Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Liabilities

Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires trustees 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.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 APRIL 2024

3. Accounting policies (continued)

In kind funding and support

The charity benefits from office facilities which are rent free courtesy of the MOD. The cost cannot be reasonable quantified and therefore no cost is represented in the financial statements.

Taxation policy

Felix Fund - The Bomb Disposal Charity is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Donations and legacies

For donations and legacies to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and requires a level of performance before entitlement can be obtained the income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Grants

Income from grants is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Trading activities

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity.

Investment Income

Interest income is recognised using the effective interest method and is recognised when received.

Other Income

Other income is recognised when the charity has been notified of the amount to be received.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 APRIL 2024

3. Accounting policies (continued)

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Costs of raising funds

This includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.

Expenditure on charitable activities

These are costs incurred on the charitable activities, including support costs and costs relating to the governance of the charity apportioned to charitable activities and can be measured reliably. If entitlement is not met then these amounts are deferred.

Other expenditure

This represents those items not falling into the above categories.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

4. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Donations
Central Fundraising - General 95,398 6,050 101,448
Central Fundraising - Corporate – – –
Central Fundraising - Trusts and Foundations 30,975 – 30,975
Community Fundraising 34,162 800 34,962
Grants
Grants receivable – 4,000 4,000
───────── ──────── ─────────
160,535 10,850 171,385
═════════ ════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Donations
Central Fundraising - General 18,145 – 18,145
Central Fundraising - Corporate 10,000 – 10,000
Central Fundraising - Trusts and Foundations 27,305 41,000 68,305
Community Fundraising 20,580 – 20,580

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FELIX FUND - THE BOMB DISPOSAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 APRIL 2024

4. Donations and legacies (continued)

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Grants
Grants receivable 10,000 – 10,000
──────── ──────── ─────────
86,030 41,000 127,030
════════ ════════ ═════════
5. Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Merchandise Income 7,193 7,193 13,008 13,008
═══════ ═══════ ════════ ════════
6. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Investment Income 15,891 15,891 5,188 5,188
════════ ════════ ═══════ ═══════
7. Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Other Income including gift aid 2,716 2,716 467 467
═══════ ═══════ ════ ════
8. Costs of other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Costs of other trading actitivies -
Merchandise 6,306 6,306 8,523 8,523
═══════ ═══════ ═══════ ═══════

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FELIX FUND - THE BOMB DISPOSAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 APRIL 2024

9. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Direct costs 214,851 – 214,851
Support costs 146,669 20,025 166,694
───────── ──────── ─────────
361,520 20,025 381,545
═════════ ════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Direct costs 147,602 – 147,602
Support costs 80,847 22,067 102,914
───────── ──────── ─────────
228,449 22,067 250,516
═════════ ════════ ═════════
Expenditure on charitable activities by activity type
Included within direct costs are grants paid as follows:-
2024 2023
£ £
Grants to units 7,941 11,971
Grants to individuals / families 30,456 14,856
Grants relating to Dashboard courses 176,454 120,775
───────── ─────────
214,851 147,602

10. Expenditure on charitable activities by activity type

11. Analysis of support costs

Charitable
activity Total 2024 Total 2023
£ £ £
Staff costs 100,292 100,292 81,924
Communications and IT 8,462 8,462 3,048
General office 12,007 12,007 6,499
Finance costs 538 538 2,000
Governance costs 2,307 2,307 1,968
Publicity 33,449 33,449 3,265
Administration 9,639 9,639 4,210
───────── ───────── ─────────
166,694 166,694 102,914
═════════ ═════════ ═════════
12. Independent examination fees
2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 2,307 1,968
═══════ ═══════

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FELIX FUND - THE BOMB DISPOSAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 APRIL 2024

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2024 2023
£ £
Wages and salaries 95,600 78,432
Social security costs 4,692 3,492
───────── ────────
100,292 81,924
═════════ ════════

The average head count of employees during the year was 3 (2023: 2).

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

14. Trustee remuneration and expenses

No remuneration was payable to trustees in this or the previous year.

The trustees did not have any expenses reimbursed during this or the previous year.

15. Stocks
2024 2023
£ £
Finished goods and goods for resale 13,736 15,893
════════ ════════
16. Debtors
2024 2023
£ £
Prepayments and accrued income 5,942 7,783
Other debtors 5,113 1,828
──────── ───────
11,055 9,611
════════ ═══════
17. Investments
2024 2023
£ £
Short-term deposits 236,066 170,000
═════════ ═════════
18. Creditors: amounts falling due within one year
2024 2023
£ £
Accruals and deferred income 1,996 5,436
═══════ ═══════

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FELIX FUND - THE BOMB DISPOSAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 APRIL 2024

19. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 May 2023 Income Expenditure Transfers 30 April 2024
£ £ £ £ £
General funds 278,069 165,885 (191,324) (11,767) 240,863
Holly Angharad Davies
Fund 27,352 – – – 27,352
Dashboard 144,285 20,450 (176,502) 11,767 –
Veterans 20,000 – – – 20,000
───────── ───────── ───────── ──────── ─────────
469,706 186,335 (367,826) – 288,215
═════════ ═════════ ═════════ ════════ ═════════
At At
1 May 2022 Income Expenditure Transfers 30 April 2023
£ £ £ £ £
General funds 537,848 74,693 (134,470) (200,000) 278,071
Holly Angharad Davies
Fund 27,352 – – – 27,352
Dashboard 16,787 30,000 (102,502) 200,000 144,285
Veterans 20,000 – – – 20,000
───────── ───────── ───────── ───────── ─────────
601,987
═════════		 104,693
═════════		 (236,972)
═════════		 –
═════════		 469,708
═════════

General Fund: - These funds are unrestricted and are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. The charity does not have any stipulation on how these funds are spent.

The purpose of the designated funds are as follows:-

The Holly Angharad Davies Fund: This fund will be used to support those serving or former military personnel who have either conducted or assisted EOD duties, whose families are facing issues that were close to Holly's heart; such as cancer patients or sick children. This will be at the discretion of the Board of Trustees in discussion with the Davies family.

The Dashboard Courses: This fund assists serving and former military personnel following tours of duty. The courses bring together personnel with professional individuals who are trained to recognise signs which could indicate potential current or future problems that could arise as result of the tour of duty. A transfer of £11,767 from the general funds was undertaken during the year to fully support this work.

Veterans: This fund was created on 20 June 2019, with a grant of £20,000 from Dashboard courses specifically for veterans.

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FELIX FUND - THE BOMB DISPOSAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 APRIL 2024

19. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
At At
1 May 2023 Income Expenditure Transfers 30 April 2024
£ £ £ £ £
Memorial Fund 663 – – – 663
Felix Festival 194 – (194) – –
Wages grants 18,933 – (18,933) – –
Dragon Boat Event – 10,850 (898) – 9,952
──────── ──────── ──────── ──── ────────
19,790 10,850 (20,025) – 10,615
════════ ════════ ════════ ════ ════════
At At
1 May 2022 Income Expenditure Transfers 30 April 2023
£ £ £ £ £
Memorial Fund 663 – – – 663
Felix Festival 194 – – – 194
Wages grants – 41,000 (22,067) – 18,933
Dragon Boat Event – – – – –
──── ──────── ──────── ──── ────────
857
════		 41,000
════════		 (22,067)
════════		 –
════		 19,790
════════

The restricted funds held for charitable purposes are as follows:-

Memorial Fund: The Memorial Fund relates to donations received towards an EOD memorial at the National Arboretum. A small balance of funds remained which the Trustees have allocated for use to refurbish the memorial at the Vauxhall Barracks.

Felix Festival: The Felix Festival is a bi-annual event which was first held in 2015. The music festival is organised by a group of volunteers to raise funds to benefit Felix Fund. This fund was fully expended in the year.

Wages Grants: The remainder of the grant was fully expended against the wages of the fundraising manager during the year.

Dragon Boat Event: This event took place in Summer 2024 and was fully expended at this point.

20. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Current assets 290,210 10,615 300,825
Creditors less than 1 year (1,995) – (1,995)
───────── ──────── ─────────
Net assets 288,215 10,615 298,830
═════════ ════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Current assets 475,144 19,790 494,934
Creditors less than 1 year (5,436) – (5,436)
───────── ──────── ─────────
Net assets 469,708 19,790 489,498
═════════ ════════ ═════════

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FELIX FUND - THE BOMB DISPOSAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 30 APRIL 2024

21. Related parties

There were no donations from trustees in this or the previous year.

Mrs E Fisher was paid an honorarium of £9,000 (2023 - £3,000) in respect of her invaluable assistance with the charity finances as an Officer of the Charity. The amounts paid were authorised by the Board of Trustees and correctly paid following PAYE legislation. There were no amounts owing at the year end in this or the previous year.

During the year, £3,300 (2023 - £nil) was paid to the daughter of a senior employee for web site design. The work was undertaken at market rate on normal commercial terms. There were no amounts owing at the year end.

One of the trustees daughter is a solicitor, who provides the charity with pro-bono help, when required.

There were no related party transactions in this or the previous year other than those mentioned above.

- 20 -

FELIX FUND - THE BOMB DISPOSAL CHARITY

MANAGEMENT INFORMATION

YEAR ENDED 30 APRIL 2024

The following pages do not form part of the financial statements.

- 21 -

FELIX FUND - THE BOMB DISPOSAL CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 30 APRIL 2024

2024 2023
£ £
Income and endowments
Donations and legacies
Central Fundraising - General 101,448 18,145
Central Fundraising - Corporate – 10,000
Central Fundraising - Trusts and Foundations 30,975 68,305
Community Fundraising 34,962 20,580
Grants receivable 4,000 10,000
───────── ─────────
171,385 127,030
───────── ─────────
Other trading activities
Merchandise Income 7,193 13,008
─────── ────────
Investment income
Investment Income 15,891 5,188
──────── ───────
Other income
Other Income including gift aid 2,716 467
─────── ────
───────── ─────────
Total income 197,185 145,693
═════════ ═════════

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FELIX FUND - THE BOMB DISPOSAL CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES (continued)

YEAR ENDED 30 APRIL 2024

2024 2023
£ £
Expenditure
Costs of other trading activities
Opening stock 15,893 19,149
Purchases 4,149 5,267
Closing stock 13,736 15,893
───────── ─────────
6,306 8,523
───────── ─────────
Expenditure on charitable activities
Officer honorarium 9,000 3,000
Wages and salaries 95,600 78,432
Employer's NIC 4,692 3,492
Subscriptions and training 2,648 1,827
Public relations & PR costs 33,449 3,265
Admin costs 486 519
Insurance 969 957
Postage and stationery 1,896 1,549
Computer and software 6,207 516
Paypal and just giving fees 153 691
Travelling 4,825 1,326
Legal and professional fees 2,307 1,968
Telephone 2,255 2,532
Office stationery costs and sundries 1,669 840
Fees on Fundsmith cash investments 538 2,000
Grants to units 7,941 11,971
Grants to individuals / families 30,456 14,856
Dashboard grants 176,454 120,775
───────── ─────────
381,545 250,516
───────── ─────────
───────── ─────────
Total expenditure 387,851 259,039
═════════ ═════════
───────── ─────────
Net expenditure (190,666)
═════════		 (113,346)
═════════

- 23 -