REGISTERED COMPANY NUMBER: 10765046 (England and Wales) REGISTERED CHARITY NUMBER: 1173001
Report of the Trustees and Financial Statements
for the Year Ended 30 May 2024
for
Chips Charity Limited
Parker Cavendish Chartered Accountants
28 Church Road Stanmore Middlesex HA7 4XR
Chips Charity Limited
Contents of the Financial Statements for the Year Ended 30 May 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Chips Charity Limited
Report of the Trustees for the Year Ended 30 May 2024
Objectives
The object of the charity is to provide mobility for youngsters up and down the UK, by the provision of powered and some manual wheelchairs and which are not available to these youngsters through the NHS.
Public benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
Achievement and Performance
During this period a total of 33 chairs were handed over which was up by 6 chairs on the previous year. Funds from sources including Genting, FNAIST, Tower Bridge (BGC Charity Day), Clarion, Metropolitan (London Clubs), Passport Technology and the CHIPS Golf day. CHIPS was able to deliver freedom and mobility to youngsters from Rugby to Aldershot and Bristol to Kings Lynn
Financial Review
The statement of the finances is attached to this report and shows an income of £173,606 with an expenditure of £293,918
Funding
FNAIST part funded 14 chairs and donated £17,500 with top up's in some cases from the Boparan trust, both trusts allow CHIPS Charity to take all the credit.
CHIPS Charity had donations via Just Giving which amounted to £4760.31, which came from Genting tennis tournament and the Royal Parks half marathon.
CHIPS Charity's partnership with Just Giving costs £216 per annum, plus 1.9% +20p for credit/Debit card donations and 5% for which they handle all the 'Gift Aid' forms.
The average cost of the wheelchairs was approximately £8.5K which has pushed our budget. This is not the case with every chair and some chairs have been part funded with the Boparan Trust and Florence Nightingale Aid in Sickness Trust, both of whom are happy for CHIPS Charity to take the publicity.
For many years our preferred wheelchair supplier has been James Barnfield, but although James has now moved on, we are continuing to use Motus Medical, for which James was an agent. James continues to be prepared to give us his professional opinion on quotes. Other charities must employ assessors or rely on the family's requests, which aren't always the correct equipment for the child. CHIPS Charity carefully vets all applicants to ensure they meet the charity's criteria.
The 2023 Golf Tournament netted £64K with the largest number of players and did not seem to raise any major problems.
There were no monies received through the collection boxes in the year.
The CHIPS Charity investment fund has had minor increases over the year and at end May 2024 was £55,212.
Governance
Charity governance is controlled by its document, a deed of trust and constitutes a limited company, limited by guarantee 2006 as defined by the Companies Act, is watched over and a Diversity page has been added to the Website. Mark Dixon has assisted to ensure Chips Charity are compliant to all regulations.
The Trustees continue to be aware the economic situation post the Covid-19 pandemic remains difficult for the country and as such there will be pressure on discretionary spend for general leisure/gambling and also on charitable fund raising.
Efforts will be made to engage more strongly with the on-line gambling sector
STRATEGIC REPORT
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Chips Charity Limited
Report of the Trustees for the Year Ended 30 May 2024
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
10765046 (England and Wales)
Registered Charity number 1173001
Registered office
28 Church Road Stanmore Middlesex HA7 4XR
Trustees
Mr N S Harding CEO (resigned 31.1.24) Mrs L G Lindsay Mr R A Rubenstein Mr C J Jones Mr P McNally Mr P S Willcock President & Chief Operating Officer Mr S Hunter Director (appointed 23.2.24)
Independent Examiner
Parker Cavendish Chartered Accountants 28 Church Road Stanmore Middlesex HA7 4XR
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 20 February 2025 and signed on the board's behalf by:
Mrs L G Lindsay - Trustee
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Independent Examiner's Report to the Trustees of Chips Charity Limited
Independent examiner's report to the trustees of Chips Charity Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 May 2024.
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:
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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
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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
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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.
Marco Gazza
Parker Cavendish Chartered Accountants 28 Church Road Stanmore Middlesex HA7 4XR
20 February 2025
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Chips Charity Limited
Statement of Financial Activities for the Year Ended 30 May 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 64,903 Other trading activities 2 107,753 Investment income 3 950 Total 173,606 EXPENDITURE ON Raising funds 46,936 Charitable activities Electric wheel chair donation 243,581 Other 3,401 Total 293,918 Net gains on investments 8,218 NET INCOME/(EXPENDITURE) (112,094) RECONCILIATION OF FUNDS Total funds brought forward 287,922 TOTAL FUNDS CARRIED FORWARD 175,828 |
2023 Total funds £ 281,640 105,668 690 387,998 38,459 177,239 3,519 219,217 5,258 174,039 113,883 287,922 |
|---|---|
The notes form part of these financial statements
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Chips Charity Limited
Statement of Financial Position 30 May 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Investments 6 48,242 CURRENT ASSETS Debtors 7 7,789 Cash at bank 126,912 134,701 CREDITORS Amounts falling due within one year 8 (7,115) NET CURRENT ASSETS 127,586 TOTAL ASSETS LESS CURRENT LIABILITIES 175,828 NET ASSETS 175,828 FUNDS 9 Unrestricted funds 175,828 TOTAL FUNDS 175,828 |
2023 Total funds £ 81,023 4,904 220,727 225,631 (18,732) 206,899 287,922 287,922 287,922 287,922 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 20 February 2025 and were signed on its behalf by:
Mrs L G Lindsay - Trustee
The notes form part of these financial statements
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Chips Charity Limited
Notes to the Financial Statements for the Year Ended 30 May 2024
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 market value, as modified by the revaluation of certain assets.
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.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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.
2. OTHER TRADING ACTIVITIES
3.
| Golf tournament income INVESTMENT INCOME Deposit account interest Investment Income |
2024 £ 107,753 2024 £ 64 886 950 |
2023 £ 105,668 2023 £ - 690 690 |
|---|---|---|
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continued...
Chips Charity Limited
Notes to the Financial Statements - continued for the Year Ended 30 May 2024
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 May 2024 nor for the year ended 30 May 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 May 2024 nor for the year ended 30 May 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 281,640 | |
| Other trading activities | 105,668 | |
| Investment income | 690 | |
| Total | 387,998 | |
| EXPENDITURE ON | ||
| Raising funds | 38,459 | |
| Charitable activities | ||
| Electric wheel chair donation | 177,239 | |
| Other | 3,519 | |
| Total | 219,217 | |
| Net gains on investments | 5,258 | |
| NET INCOME | 174,039 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 113,883 | |
| TOTAL FUNDS CARRIED FORWARD | 287,922 | |
| 6. | FIXED ASSET INVESTMENTS | |
| MARKET VALUE | Unlisted investments £ |
|
| At 31 May 2023 | 81,023 | |
| Additions | 13,377 | |
| Disposals | (49,088) | |
| Revaluations | 2,930 | |
| At 30 May 2024 | 48,242 | |
| NET BOOK VALUE | ||
| At 30 May 2024 | 48,242 | |
| At 30 May 2023 | 81,023 | |
There were no investment assets outside the UK.
continued...
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Chips Charity Limited
Notes to the Financial Statements - continued for the Year Ended 30 May 2024
6. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 30 May 2024 is represented by:
| Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income 9. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 173,606 TOTAL FUNDS 173,606 Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 31.5.23 £ 287,922 287,922 Resources expended £ (293,918) (293,918) At 31.5.22 £ 113,883 113,883 |
Unlisted investments £ (1,844) 5,152 2,867 42,067 48,242 2024 2023 £ £ 7,789 4,904 2024 2023 £ £ 7,115 18,732 Net movement At in funds 30.5.24 £ £ (112,094) 175,828 (112,094) 175,828 Gains and Movement losses in funds £ £ 8,218 (112,094) 8,218 (112,094) Net movement At in funds 30.5.23 £ £ 174,039 287,922 174,039 287,922 |
|---|---|---|
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continued...
Chips Charity Limited
Notes to the Financial Statements - continued for the Year Ended 30 May 2024
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 387,998 387,998 |
Resources expended £ (219,217) (219,217) |
Gains and Movement losses in funds £ £ 5,258 174,039 5,258 174,039 |
|---|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 May 2024.
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Chips Charity Limited
Detailed Statement of Financial Activities for the Year Ended 30 May 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Other trading activities Golf tournament income Investment income Deposit account interest Investment Income Total incoming resources EXPENDITURE Other trading activities Cost of golf tournament Marathon Costs Charitable activities Grants to individuals Support costs Governance costs Insurance Bank Charges Just Giving Charges Investment Management Fees Secretarial services Accountancy fees Total resources expended Net (expenditure)/income before gains and losses Realised recognised gains and losses Realised gains/losses fa inv Unrealised gains/losses fa inv Net (expenditure)/income |
2024 £ 64,903 107,753 64 886 950 173,606 43,944 1,480 45,424 243,581 520 73 216 1,296 692 2,116 4,913 293,918 (120,312) 5,288 2,930 (112,094) |
2023 £ 281,640 105,668 - 690 690 387,998 35,538 1,450 36,988 177,239 667 98 216 1,255 638 2,116 4,990 219,217 168,781 106 5,152 174,039 |
|---|---|---|
This page does not form part of the statutory financial statements
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