FINANCIAL YEAR 24/25 . ANNUAL REPORT •• IF& DIS HAL. L GE. Felix Fund The Bomb Disposal Charity FELIX 2 FUND THE BOMB DISPOSAL CHARITY HEALTH & WELLBEING FINANCIAL ASSISTANCE MEMORIAL & REMEMBRANCE
CHARITY REGISTRATION NUMBER: 1142494
FELIX FUND - THE BOMB DISPOSAL CHARITY UNAUDITED FINANCIAL STATEMENTS 30 APRIL 2025
VINEYARD ACCOUNTANTS
Chartered Certified Accountants 5 The Chambers Vineyard Abingdon-on-Thames
FELIX FUND - THE BOMB DISPOSAL CHARITY TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDING 30 APRIL 2025 TRUSTEES. ANNUAL REPORT Contents OBJECTIVES AND ACTIVITIES ......................................................................................... Summary of Activities....................................................................................................... Public benefit statement................................................................................................... ACHIEVEMENTS AND PERFORMANCE........................................................................... Health and Wellbeing . Memorial And Remembrance........................................................................................... Fundraising activities........................................................................................................ FINANCIAL REVIEW........................................................................................................... Reserves policy............-.....-.......-.........-.-.....-................-......-..-.. Cash invesknents............................................................................................................. STRUCTURE, GOVERNANCE AND MANAGEMENT........................................................ Description of charity's twsts:... Trustee selection method .. ........................ ................................................... Management..................................................................................................................... REFERENCE AND ADMINISTRATIVE DETAILS............................................................... DECLARATIONS................................................................................................................. Independent examinerfs reportto the trustees........................................................... Statement of financial adwities............................................................................. Statementof finanGial position.............................................................................10 Notes to the financial statements..................... The following pages do not fonn part of the financial statements Detailed statement offinancial activthes................................................-.............. 22
FELIX FUND- THE BOMB DISPOSAL CHARITY TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDING 30 APRIL 2025 The trustees present their report and the unaudited financial statements of the charity for the year ended 30 April 2025. OBJECTIVES AND ACTIVITIES Our Charitable Objects The objects of Felix Fund were as follows: 1. The relief in need of a) any serving or fomier military personnel who have either conducted or assisted EOD duties. b) families and dependants of such personnel by the provision of welfare services, support and financial assistance and such other chaiitable means as tnjstees think fiL 2. To promote military efficiency of the EOD cx)mmunity by supporting adventure training and other welfare activities through suth charitable means as the trustees think fft. 3. To promote military efficiency by commemorating and sustsining the memories of those within the EOD community who have lost their lives in the course of exeCting their EOD duties. During the Financial year the Felix Fund submitted a qUest to the Charity commission to update these objects. these were not approved by the Charity Commission until the 16 May 25 and fom)ally adopted, ft)Ilowing a Trustee vote 20° May 25. The revised objects are: 1. The relief in need of: a) any serving or fomier military personnel and S015 personnel who have either conducted or assisted EOD and Search duties. b) families and dependants of such personne5 c) by the provision of welfare services. support and financial assistance and such other charitable means as the trustees think fit. 2. To promote military efficiency of the EOD and Search communty by supporting military and S015 unit adventure training and other welfare activities through such tharitable means as the trustees think fit. 3. To promote military and S015 efficiency by commemordting and sustaining the memories of those within the EOD and Search mmmunity who have lost their lives in the course of eXeting EOD and Search duties. For the purpose of this dause 'EOD' is explosive ordnance disposal and 'S015' is another name for counter terrorism command. which is based within the Metro olitan Police Servi.
FELIX FUND - THE BOMB DISPOSAL CHARITY TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDING 30 APRIL 2025 Summary of Activities Felix Fund is set up to help any personnel from across all thr SeNiS and S015 (Metropolitan Poli Counter Terrorism Unrt) who have conducted or assisted Explosive Ordnance Disposal (EOD) duties. We do this by providing welfare support and financial assistan to serving personnel, veterans and their dependents, with a focus on the following three work strands: Felix Fund promotes health and wdlbeing by. Running DashLx)ard Courses for SeIng personnel. veterans and partners of setvirvJ perS(ne1 to help improve their mental health resilien Ra4sing awareness on the heightened rEk of bladder canr amongst EOD operators Felix Fund financial support by: Grants to EOD & Search Units Grants to individuals, induding serving pe¥S(ne1, veterans and dependent family members Universty grants for surviving children of those killed on HÉALTH & WELLBEING FINANCIAL ASSISTANCE duty, Felix Fund cx)mmemorates and sustains the memories of those who have served or who have lost their lives while executing their EOD duties by: Provision of funds for Maintenan of key memorials Publication of stories from EOD&S veterans MEFAORIAL 8 riEMEM8RANCE Public benefit ststsment The Felix Fund (the Charity) works to provide practical. direct support for those who have undertaken or supported EOD&S duties. The TFUStees have considered the Charity Commission's general guidance on public benefit and have taken it into account when reviewing the Charitls aims and obiectives and in planning its future activities. The Trustees of Felix Fund are satisfRd that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guid published by the Charity CA)mmission. l Thwgh noting, non6 hava beèn applied ft)r this F
FELIX FUND - THE BOMB DISPOSAL CHARITY TRUSTEES, ANNUAL REPORT FOR TrIE YEAR ENDING 30 APRIL 2025 ACHIEVEMENTS AND PERFORMANCE Health and Wellbeing During 2024125 Felix Fund again focJJsed on helping to improve the mental resilien of serving personnel and veterans. Following feedback from EOD&S units a review of the Dashboard program VRS carried out, resulting in the course reverting back to its original 3-day fomiat rather than 5- days. This change was to better enable SNCO (Senior Non- Commissioned Officers). WOS (WaTrant Offi[S) and Officers to be released from their duties to attend. MENTAL HEALTH +64% We also ran three Spouses or Partners Dashboard weekends. which saw Ihirty wives and partners benefit from their own bespoke training. These continue to prove popular and beneficial. 1 R•suknfrom Apr23c• March 2025 saw the release of a paper2 by BJU Intemationai3 that indicated that EOD operators likely had an elevated risk of Bladder canr. Felix Fund launched an infomiation campaign through its social media channels to raise awareness of the issue. This campaign was focused around getting Service Personnel & Veterans to check their urine for blood and rf sons were seen. then to go to their doctors. They were also advised to inform their dtorS the findings of the study and their Frf)tentially elevated risk of bladder cancer. Grants Felix Fund continued to provide financial assistance to serving personnel, veterans, and their dependent family members, in tirnes of need. Examples of help during this financial year include: Help towards installing gym equipment for S015 personnel. There were no facilities at their head office and no funding available from elwhere. Felix Fund provided a sum to enable them to purchase equipment which would enable personnel to work out to assist with their physical and mental wellbeing. To help fund the purchase of a rugby wheelchair for an injured veteran who takes part in this sport at both local and national levels. To help (xjver the costs of tracheostomy equipment for a veteran who is now reliant on this following medi1 inteNention. 2 Occupabonal incKlence of bladder canr arrw)ng5t veteran ammunllion technich?ns of the British Arniy, Occu ational incidence ol blxdder cancer mon st veteran ammuni ion lechnicia hArm Coll rnational Online Libra 3 hltps:Ilwww.fy'uinternational.cornl
FELIX FUND-THE BOMB DISPOSAL CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDING 30 APRIL 2025 Felrx 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 charty we continue to make a significant differen to the comrnunity we setve. Memorial And Remembrance In Dec 2024 V published volume 2 of the 'The Long Walk: An Anthology by EOD & Search Veterans" Fundraising activities In 2024125. the total fundraising income. induding donations and grants was £242,115 (202312024 - £171.385). FINANCIAL REVIEW Trustees, responsibilities in relation to the accounts. Law applicable to charities in England and Wales requires the trustees to prepare accounts for each finala1 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 prepariro those accJ)unts, the trustees are required to: select suilable aco)unting poliaes and then apply Ihem consistently; make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards and statements of recommended practice have bn followed subject to any departures disdosed and explained in the accounts. and prepare the ar)Un on the going COnrn basis unless it is inapprriate to presume that the d)arity will continue in business. The Trustees are responsible for keeping accounting records which disdose with reasonable aracY 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 resp)nsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Reserves policy The Trustees continue to be cDnscious that the long-temi needs of the EOD communty's Afghanistan and Iraq veterans (and their families) are likely to be cDnsiderable. Future mental health issues and the wsts of bereaved children's university education are of parlicular concern. The Trustees have therefore designated that Feltx Fund should hold in reserve a minimum of one years running costs, this indudes an estimate of grants provided bad on previous years and the cost of six Dashboard CrSeS. 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 reseNe policy helps the charity to match its reserves to its requirements and no more. otherwise the tharity yuld hold r&8erves that are too high or too low.
FELIX FUND - THE BOMB DISPOSAL CHARITY TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDING 30 APRIL 2025 What does this policy cover? 1. The amount of reserves at the end of each month's balance sheeL 2. The reason(s) why the charity needs Ihis level of reserves. 3. How the tharity intends to establish and maintain reserves at the amount detemiined 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: 1. Cashflow 2. A review of existing funds and reserves 3. A review of future income streams 4. A review of likely future expenditure 5. A review of past operational and other trends 6. The likely effects of change on the public and beneficiaries 7. A review of the major risks facing the charity 8. An analysis of future needs. contingencies and risks. the potential consequences for the chaiity not being able to meet them 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, especia51y during the Afghanistan and Iraq conflicts. that our financial priority was on capital preservation and consistent retums. 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 exeded the FSCS limits of £85K, even rf 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 to accEss more Financial Services Compensation Scheme (FSCS) products. paying far higher rates than was pvIOuslY available on the htgh street. This product also has the advantsge of less overall administration partularlY relating to opening new accounts as Flagstcffie do all of the paFenvork. Our investrnent objectives are as follows: 1 . Capital Preservation: The primary goal is to proted the principal amount invested arKI ensure the charity's funds are not exposed to significant market fiuctuations. 2. Steady Income Generatson: Prioritise investsnents thal provKle a predictable and stable income stream to supp)rt the C117S ongoing operations and initiatives.
FELIX FUND -THE BOMB DISPOSAL CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDING 30 APRIL 2025 Risk management cx)nsideration 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 spreaaing deposit maturities across different tinie horizons to reduce interest rate risks. 3. Liquidity Management. Sufficient funds are held outside of Flagstone in the CharÈties current account to allow for 3 Months typical grant giving and running costs. STRUCTURE, GOVERNANCE AND MANAGEMENT Description of charity's trusts: 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 ne&Jing to have prosseS and assurance mechantsms in place to maintain transparency and compliance with legal and regulatory requirements. Maintaining the trust and Confiden of the public arKJ fund donors is vital. Regular Trustee meetings provide for holding to accoun( scrutiny, supFK)rt and guidance and ensure that decision making is well infomied and timely. Work continues to ensure our govemance. 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 C(Mfederation of Service Charities). Trustee selection method Adverts for applications to be a trustee will be placed across Felix Fund's social media accounts and on its website. This will indude a request for a CV and personal statement on why they want to be trustees. Applicants will be paper sifted by all twstees and then invited for an inteNiew with at least iwo of the trustees. As per Felix Fund's goveming docurnent in selecting individuals for apF()intment as trustees, the trustees must have regard to the skills. knowledge and experien needed for the effective administration of the Charity as well as the time they are able to commit to Felix Fund. Diversity must be considered when selecting new trustees. Appointments will be agrd by a resolution of all trustees to be passed at a meeting. Management When the previous CEO decided to resign in early 2025. the board made the decision to move to a voluntary run charity, with the exception of employing a part time treasurer and shop manager. ThB was in order to ensuTe the long-tenm viability of the charity, in the current financial dimate.
FELIX FUND - THE BOMB DISPOSAL CHARITY TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDING 30 APRIL 2025 REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Felix Fund - The Bomb Disposal Charity Charity registratlon number 1142494 Principal office Vauxhall Barracks Foxhall Road Didcot Oxfordshire The trustees Brig (Retd) G Collett (Resigned 30 July 2025) M P Duckering Brig K Frankland Cmd A Nekrews Mr A J Pettitt Mr D A Reyland W02 K Scott (Resigned 5 December 2024) (Resigned 21 May 2024) Finance Officer Mrs E Fisher Independent examiner Helen Gee FCCA 5 The Chambers Vineyard Abingdon-oTrThames DECLARATIONS The trustees declare that they have approved the trustees, report above on 5th Sep 2025. Signed on behalf of the charity's trustees Signature Full nama Daniel Re land Position Chair of the Trustee Board Date 7th Se 25
FELIX FUND - THE BOMB DISPOSAL CHARITY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FELIX FUND - THE BOMB DISPOSAL CHARITY
YEAR ENDED 30 APRIL 2025
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 2025.
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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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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
11 September 2025
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FELIX FUND - THE BOMB DISPOSAL CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 30 APRIL 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 213,883 | 28,232 | 242,115 | 171,385 |
| Other trading activities | 5 | 4,946 | – | 4,946 | 7,193 |
| Investment income | 6 | 8,364 | – | 8,364 | 15,891 |
| Other income | 7 | 6,046 | – | 6,046 | 2,716 |
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| Total income | 233,239 | 28,232 | 261,471 | 197,185 | |
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| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 8 | 1,360 | – | 1,360 | 6,306 |
| Expenditure on charitable activities | 9,10 | 162,593 | 38,184 | 200,777 | 381,545 |
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| Total expenditure | 163,953 | 38,184 | 202,137 | 387,851 | |
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| Net income/(expenditure) and net | |||||
| movement in funds | 69,286 | (9,952) | 59,334 | (190,666) | |
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| Reconciliation of funds | |||||
| Total funds brought forward | 288,215 | 10,615 | 298,830 | 489,496 | |
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| Total funds carried forward | 357,501 | 663 | 358,164 | 298,830 | |
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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 11 to 20 form part of these financial statements.
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FELIX FUND - THE BOMB DISPOSAL CHARITY
STATEMENT OF FINANCIAL POSITION
30 APRIL 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Current assets | ||||
| Stocks | 15 | 12,556 | 13,736 | |
| Debtors | 16 | 5,275 | 5,113 | |
| Investments | 17 | 329,322 | 236,066 | |
| Cash at bank and in hand | 10,047 | 39,969 | ||
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| 357,200 | 294,884 | |||
| **Prepayments and accrued income ** | 16 | 3,664 | 5,942 | |
| Creditors: amounts falling due within one year | 18 | 2,700 | 1,996 | |
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| Net current assets | 358,164 | 298,830 | ||
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| Total assets less current liabilities | 358,164 | 298,830 | ||
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| Net assets | 358,164 | 298,830 | ||
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| Funds of the charity | ||||
| Restricted funds | 663 | 10,615 | ||
| Unrestricted funds | 357,501 | 288,215 | ||
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| Total charity funds | 19 | 358,164═════════ |
298,830═════════ |
These financial statements were approved by the board of trustees and authorised for issue on 5 September 2025, and are signed on behalf of the board by:
Mr D Reyland Trustee
The notes on pages 11 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 2025
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.
Cash at bank and in hand
Cash in bank and in hand includes cash from short term investments with a short life maturity from the date of the deposit or opening of the deposit or investment account.
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FELIX FUND - THE BOMB DISPOSAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2025
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.
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.
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FELIX FUND - THE BOMB DISPOSAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2025
3. Accounting policies (continued)
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 2025
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 | 2025 | |
| £ | £ | £ | |
| Donations | |||
| Central Fundraising - General | 24,059 | 6,954 | 31,013 |
| Central Fundraising - Major Donor | 125,670 | – | 125,670 |
| Central Fundraising - Trusts and Foundations | 18,500 | 20,000 | 38,500 |
| Community Fundraising | 45,654 | 1,278 | 46,932 |
| Grants | |||
| Grants receivable | – | – | – |
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| 213,883 | 28,232 | 242,115 | |
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| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Donations | |||
| Central Fundraising - General | 95,398 | 6,050 | 101,448 |
| Central Fundraising - Major Donor | – | – | – |
| Central Fundraising - Trusts and Foundations | 30,975 | – | 30,975 |
| Community Fundraising | 34,162 | 800 | 34,962 |
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FELIX FUND - THE BOMB DISPOSAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2025
4. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Grants | |||||
| Grants receivable | – | 4,000 | 4,000 | ||
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| 160,535 | 10,850 | 171,385 | |||
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| 5. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Merchandise Income | 4,946 | 4,946 | 7,193 | 7,193 | |
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| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Investment Income | 8,364 | 8,364 | 15,891 | 15,891 | |
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| 7. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Other Income including gift aid | 6,046 | 6,046 | 2,716 | 2,716 | |
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| 8. | Costs of other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Costs of other trading actitivies - | |||||
| Merchandise | 1,360 | 1,360 | 6,306 | 6,306 | |
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FELIX FUND - THE BOMB DISPOSAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2025
9. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Direct costs | 80,980 | – | 80,980 |
| Support costs | 81,613 | 38,184 | 119,797 |
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| 162,593 | 38,184 | 200,777 | |
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|
| 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 | |
═════════ |
════════ |
═════════ |
|
| Expenditure on charitable activities by activity type | - grants | ||
| paid | |||
| Included within direct costs are grants paid as follows:- | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Grants to units | 2,980 | 7,941 | |
| Grants to individuals / families | 8,818 | 30,456 | |
| Grants relating to Dashboard courses | 69,182 | 176,454 | |
──────── |
───────── |
||
| 80,980 | 214,851 |
10. Expenditure on charitable activities by activity type - grants paid
11. Analysis of support costs
| Charitable | |||
|---|---|---|---|
| activity | Total 2025 | Total 2024 | |
| £ | £ | £ | |
| Staff costs | 83,154 | 83,154 | 100,292 |
| Communications and IT | 3,755 | 3,755 | 8,462 |
| General office | 11,097 | 11,097 | 12,007 |
| Finance costs | 108 | 108 | 538 |
| Governance costs | 3,585 | 3,585 | 2,307 |
| Publicity | 9,103 | 9,103 | 33,449 |
| Administration | 8,995 | 8,995 | 9,639 |
───────── |
───────── |
───────── |
|
| 119,797 | 119,797 | 166,694 | |
═════════ |
═════════ |
═════════ |
|
| Independent examination fees | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 2,880 | 2,307 | |
═══════ |
═══════ |
12. Independent examination fees
- 16 -
FELIX FUND - THE BOMB DISPOSAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2025
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 78,781 | 95,600 |
| Social security costs | 4,373 | 4,692 |
──────── |
───────── |
|
| 83,154 | 100,292 | |
════════ |
═════════ |
The average head count of employees during the year was 3 (2024: 3).
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
14. Trustee remuneration and expenses
No remuneration was payable to trustees in this or the previous year.
1 trustee had expenses amounting to £591 in the year in respect of travelling costs, postage and stationery, staff leaving gift, telephone costs and thank you gifts. (2024 - no trustee expenses were incurred). There were no amounts owing at the year end date in this or the previous year.
15. Stocks
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Finished goods and goods for resale | 12,556 | 13,736 | |
════════ |
════════ |
||
| 16. | Debtors | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Prepayments and accrued income | 3,664 | 5,942 | |
| Other debtors | 5,275 | 5,113 | |
─────── |
──────── |
||
| 8,939 | 11,055 | ||
═══════ |
════════ |
||
| 17. | Investments | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Short-term deposits | 329,322 | 236,066 | |
═════════ |
═════════ |
||
| 18. | Creditors: amounts falling due within one year | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Accruals and deferred income | 2,700 | 1,996 | |
═══════ |
═══════ |
- 17 -
FELIX FUND - THE BOMB DISPOSAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2025
19. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 May 2024 | Income | Expenditure | Transfers | 30 April 2025 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 240,863 | 194,569 | (94,772) | (80,000) | 260,660 | |
| Holly Angharad Davies | ||||||
| Fund | 27,352 | – | – | – | 27,352 | |
| Dashboard | – | 38,670 | (69,181) | 64,000 | 33,489 | |
| Veterans | 20,000 | – | – | (4,000) | 16,000 | |
| Gala dinner | – | – | – | 20,000 | 20,000 | |
───────── |
───────── |
───────── |
──────── |
───────── |
||
| 288,215 | 233,239 | (163,953) | – | 357,501 | ||
═════════ |
═════════ |
═════════ |
════════ |
═════════ |
||
| 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 | |
| Gala dinner | – | – | – | – | – | |
───────── |
───────── |
───────── |
──────── |
───────── |
||
469,706═════════ |
186,335═════════ |
(367,826)═════════ |
–════════ |
288,215═════════ |
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 £60,000 from the general funds was undertaken during the year to fully support this work, as well as £4,000 from the veterans designated fund.
Veterans: This fund was created on 20 June 2019, with a grant of £20,000 from Dashboard courses specifically for veterans. A transfer of £4,000 was made in the year to support veterans attending Dashboard courses.
Gala dinner: During the year the charity transferred £20,000 from general reserves to the Gala Dinner designated fund, which will take place in 2026. This will help fund costs to secure supplies for this event.
- 18 -
FELIX FUND - THE BOMB DISPOSAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2025
19. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 May 2024 | Income | Expenditure | Transfers | 30 April 2025 | |
| £ | £ | £ | £ | £ | |
| Memorial Fund | 663 | – | – | – | 663 |
| Felix Festival | – | – | – | – | – |
| Wages grants | – | 20,000 | (20,000) | – | – |
| Dragon Boat Event | 9,952 | 8,232 | (18,184) | – | – |
──────── |
──────── |
──────── |
──── |
──── |
|
| 10,615 | 28,232 | (38,184) | – | 663 | |
════════ |
════════ |
════════ |
════ |
════ |
|
| 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════════ |
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. For the remainder of the fund the Trustees have allocated this 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 previous year.
Wages Grants: The wages grant was fully expended against the wages of the fundraising manager during the year. This was the final wages grant of this nature.
Dragon Boat Event: This event took place in Summer 2024 and the restricted fund was fully expended at this point.
20. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Current assets | 360,201 | 663 | 360,864 |
| Creditors less than 1 year | (2,700) | – | (2,700) |
───────── |
──── |
───────── |
|
| Net assets | 357,501 | 663 | 358,164 |
═════════ |
════ |
═════════ |
|
| 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 |
═════════ |
════════ |
═════════ |
- 19 -
FELIX FUND - THE BOMB DISPOSAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 30 APRIL 2025
21. Related parties
There were no donations from trustees in this or the previous year.
Mrs E Fisher was paid an honorarium of £4,550 (2024 - £9,000) 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. Mrs E Fisher became an employee of the Charity after the year end.
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 2025
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 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Central Fundraising - General | 31,013 | 101,448 |
| Central Fundraising - Major Donor | 125,670 | – |
| Central Fundraising - Trusts and Foundations | 38,500 | 30,975 |
| Community Fundraising | 46,932 | 34,962 |
| Grants receivable | – | 4,000 |
───────── |
───────── |
|
| 242,115 | 171,385 | |
───────── |
───────── |
|
| Other trading activities | ||
| Merchandise Income | 4,946 | 7,193 |
─────── |
─────── |
|
| Investment income | ||
| Investment Income | 8,364 | 15,891 |
─────── |
──────── |
|
| Other income | ||
| Other Income including gift aid | 6,046 | 2,716 |
─────── |
─────── |
|
───────── |
───────── |
|
| Total income | 261,471 | 197,185 |
═════════ |
═════════ |
- 22 -
FELIX FUND - THE BOMB DISPOSAL CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES (continued)
YEAR ENDED 30 APRIL 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Costs of other trading activities | ||
| Opening stock | 13,736 | 15,893 |
| Purchases | 180 | 4,149 |
| Closing stock | 12,556 | 13,736 |
───────── |
───────── |
|
| 1,360 | 6,306 | |
───────── |
───────── |
|
| Expenditure on charitable activities | ||
| Officer honorarium | 4,550 | 9,000 |
| Wages and salaries | 78,781 | 95,600 |
| Employer's NIC | 4,373 | 4,692 |
| Subscriptions | 7,380 | 2,648 |
| Public relations and fundraising costs | 9,103 | 33,449 |
| Administration costs | 3,378 | 486 |
| Insurance | 1,075 | 969 |
| Postage and carriage | 1,395 | 1,896 |
| Computer expenses | 1,937 | 6,207 |
| Just giving and platform fees | 1,067 | 153 |
| Travelling | 1,212 | 4,825 |
| Independent examiners fees | 3,585 | 2,307 |
| Telephone and internet | 1,818 | 2,255 |
| Office stationery and sundries | 35 | 1,669 |
| Fees on Fundsmith cash investments | 108 | 538 |
| Grants to units | 2,980 | 7,941 |
| Grants to individuals/ families | 8,818 | 30,456 |
| Dashboard grants | 69,182 | 176,454 |
───────── |
───────── |
|
| 200,777 | 381,545 | |
───────── |
───────── |
|
───────── |
───────── |
|
| Total expenditure | 202,137 | 387,851 |
═════════ |
═════════ |
|
───────── |
───────── |
|
| Net income/(expenditure) | 59,334═════════ |
(190,666)═════════ |
- 23 -