# THE LORD MAYOR OF CANTERBURY’S CHRISTMAS GIFT FUND ## REPORT & ACCOUNTS FOR THE PERIOD 12[TH] September 2024 TO 5th April 2025 CHARITY NO. 1209991 **THE LORD MAYOR OF CANTERBURY’S CHRISTMAS GIFT FUND** Page 1 ## **LEGAL & ADMINISTRATIVE INFORMATION** ## **NAME** The full name of the Charity is The Lord Mayor of Canterbury’s Christmas Gift Fund. ## **CONSTITUTION** The Charity is a Charitable Incorporated Organisation (CIO) established by a Constitution dated 12 September 2024. ## **CHARITY REGISTRATION NUMBER** 1209991 ## **TRUSTEES** P Ashdown T W Brett A P Loughran S J C Thompson ## **MEMBERS OF THE COMMITTEE** A P Loughran, Chairman J Parker, Secretary P Ashdown, Treasurer T W Brett A Chance J Cryer R Doyle J Gargiulo S G Robertson J Symons S J C Thompson ## **PRINCIPAL ADDRESS** Robert Brett House Milton Manor Farm Ashford Road Canterbury Kent CT4 7PP ## **BANKERS** Lloyds Bank Plc. 49 High Street Canterbury Kent CT1 2SE ## **INVESTMENT POWERS** Under the terms of the Constitution the Trustees have the power to invest funds in investments authorised by law for the investment of trust funds or to place them on bank deposit. 1 **THE LORD MAYOR OF CANTERBURY’S CHRISTMAS GIFT FUND** Page 2 ## **TRUSTEES’ REPORT** ## **FOR THE PERIOD ENDED 5 APRIL 2025** The Trustees present their report along with the financial statements for the first financial period commencing 12 September 2024 and ending 5 April 2025, This is a new Charitable Incorporated Organisation (CIO), created to replace the previous unincorporated charity registered number 278803. The financial statements have been prepared in accordance with the accounting policies set out on page 5 and comply with the Charity’s constitution, applicable law and the requirements of the Charities Act 2011. ## **Independent Examiners** Although the Charity is not required to have their accounts audited or examined by Independent Examiners, as a matter of good business practice, an independent examination of the accounting records is performed by a suitably experienced person. These accounts have been prepared following such examination and incorporate any recommendations made. ## **Governing Document** The Charity is governed by its Constitution dated 12 September 2024 ## **Objects of the Charity and Principal Activities** This is to relieve and assist isolated, vulnerable or needy individuals and families in the local government district of Canterbury City Council, by providing vouchers, food or any other means the Trustees deem appropriate. Such assistance to be gifted in the name of the Lord Mayor of Canterbury. ## **Policy Adopted to Meet the Objects** The Committee meets the Objects by raising money in the period immediately prior to Christmas and with the money so raised, purchases food and gift vouchers that are distributed to beneficiaries prior to the following Christmas. The charity also makes donations to organisations who provide Christmas lunches for needy individuals. These lunches are gifted to the individuals and families in the Lord Mayor’s name. Donations are invited from individuals, businesses, schools and other organisations. The Charity also organises an annual open air Christmas Eve carol concert and a street organ collection. ## **Organisation** The Charity is managed by the Trustees. The Charity is run by the Committee. ## **Recruitment and Appointment of Trustees** The power of appointing new Trustees rests with the Trustees. The Charity is permitted a minimum of three trustees and a maximum of six. ## **Achievements and performance** All the gifts for Christmas 2024 were funded from the reserves of the previous charity no. 278803. All fund raising events and donation requests were organised by the new CIO and all donations and other income were retained by the CIO to fund Christmas 2025 events and gifts. The previous charity was closed on 17 December 2024 and the balance of £20,205 was transferred to the new CIO. Any expenditure thereafter being funded by the CIO. The combined activity of the two charities produced a surplus for the year of £1,104 (2024: deficit of £999). This very successful result was achieved by approaching large housing developers in the area of benefit who made generous donations. The area of benefit under the previous charity was extended to include the whole of the local government district of Canterbury City Council, thereby including new areas such as Whitstable, Herne Bay and Beltinge. Adjustments were made to the previous gift allocations to enable gifts to be provided to the whole of the new extended area. At the same time good relationships have been built with organisations in the new area. ## **Plans for Future Periods** Whilst the Charity currently has adequate reserves to fund in excess of two years gifts, the Trustees understand the importance of reviewing their fund-raising strategy at regular intervals and the Committee will plan accordingly. It will continue to be the Trustees’ policy to review alternative sources of income and to add to sums collected through Corporate donations and to maintain the income from private donors by attracting new donors. At the same time, the Charity will continue to review the beneficiaries and their changing needs, to ensure funding levels and the type of gifts match those requirements. 2 **THE LORD MAYOR OF CANTERBURY’S CHRISTMAS GIFT FUND TRUSTEES’ REPORT FOR THE PERIOD ENDED 5 APRIL 2025 (continued)** Page 3 ## **Review of Financial Position** At least one year's cost of parcels and vouchers must be retained, as their purchase has to be made ahead of Christmas collections. Adequate funds must also be retained to pay the cost of the following year's fund raising activities. Current funds are adequate to cover the cost of purchasing in excess of two year's gifts and the fund raising activities. Funds adequate to cover day to day working costs are held in a Lloyds Bank current account, with the balance invested in a Virgin Money charities deposit account. In March 2024 an agreement was reached for Nationwide to acquire Virgin Money. This will be kept under constant review to ensure investment returns are maximised without incurring increased risk. ## **Gifting Policy** Gifts are granted to deserving individuals and families resident in the area of benefit at the Committee's discretion. GDPR precludes the charity from obtaining lists of individuals names and addresses. To overcome this, vouchers are allocated to local organisations who are aware of and in touch with deserving members. These include organisations such as churches, social services, hostels and community social and mental wellbeing centres. Individual requests to the Charity are also considered. The organisations are interviewed to verify their requests for vouchers and donations and gifts are then awarded as far as funds allow. ## **Public benefit** The Charity Commission has confirmed that the Charity's objects meet the definition of a public benefit organisation as required by the Charity Commission. ## **Reserves policy** It is the Charity’s policy to maintain sufficient legal reserves in order to i) pay for one year’s activity and ii) fund 75% of the following year's activity to address the risk of funds raised being inadequate to fund in full the following year's expenditure. The rationale for holding this reserve is as follows: (i) To ensure the financial security of the Charity, (ii) To provide adequate resources to meet the challenges imposed by new and uncertain funding streams. The Trustees will continue to keep under review the level of the Charity’s reserves but consider the current level is necessary to fulfil justifiable calls on the Charity’s resources. ## **Risk factors** The Charity’s Trustees have considered the major strategic, business and operational risks which the Charity faces and confirm that systems are reviewed frequently so that the necessary steps can be taken to lessen these risks. This report has been prepared in accordance with the Charity Commission's Receipts and Payments protocol recommended for Small Charities and in accordance with The Charities (Accounts & Reports) Regulations 2008. ## **Approval** This report was approved by the Trustees on……………………….. and signed on their behalf. ……………………………………………………. ….…………………………………. A P Loughran, Trustee P. Ashdown, Trustee 3 **THE LORD MAYOR OF CANTERBURY'S CHRISTMAS GIFT FUND Charity Commission Reg. No. 1209991** Page 4 ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 12 SEPTEMBER 2024 TO 5 APRIL 2025** ||||||| |---|---|---|---|---|---| |**_________________________________________________**|**____**
**Note**|**_______**|**_________**
**2025**|**_______**|**_____**
**2024**| ||||||| |**INCOMING RESOURCES**
**_Incoming resources from generated funds:_**
• **Voluntary income: DonaPons**
- Street collec.ons
- Other dona.ons
•**GiQ Aid**
•**Investment Income**
•**Insurance Premium refund Charity no. 278803**|||**£**||**£**| ||||||| ||||||| |||5,266
9,883|||| ||||||| ||||||| ||**3**|5
695|||| ||||||| |**Total incoming resources**||15,849|||-| ||||||| |**RESOURCES EXPENDED**
Charitable ac.vi.es|||||| ||**4**|638|||| |**Total resources expended**||638|||-| ||||||| |**Net incoming resources/(resources expended)**||15,211|||-| ||||||| ||||||| |**ReconciliaPon of funds**
Total funds transferred from Charity No. 2798803|||||| |||20,205|||| |Total funds carried forward||35,416|||-| |**BALANCE SHEET AS AT 5 APRIL 2025**|||||| |**Current Assets**
Cash at Bank|**6**||||| |||35,416|||| ||||||| |**Net Assets**||35,416|||-| ||||||| |**Funds**
Unrestricted Funds|||||| ||**6**|35,416|||-| ||||||| These accounts were approved by the Trustees on ………………………………………...………….…………. |…………………………………………………………………|…………………………………...………………….……| |---|---| |A P Loughran, Trustee|T W BreS, Trustee| / 1 **THE LORD MAYOR OF CANTERBURY'S CHRISTMAS GIFT FUND NOTES TO THE ACCOUNTS FOR THE PERIOD 12 SEPTEMBER 2024 TO 5 APRIL 2025** Page 5 ## **1 AccounPng Policies** ## **1.1 Basis of preparaPon of the accounts** The accounts are prepared using the Charity Commission Small Chari.es Receipts and Payments protocol and are in accordance with the requirement of The Chari.es (Accounts and Reports) Regula.ons 2008 issued under the Chari.es Act 2011 ## **1.2 Incoming resources** has been received. ## **1.3 Resources expended** headings that aggregate all costs related to the category. Fund-raising costs are those incurred in seeking voluntary contribu.ons and do not include costs of dissemina.ng informa.on in support of charitable ac.vi.es. Charitable ac.vity costs are those incurred in connec.on with direct and support costs of the Charity. ## **1.4 Investments** Investments have been included in the balance sheet at market value. Realised and unrealised gains and losses on investments are dealt with in the Statement of Financial Ac.vi.es. ## **1.5 Value Added Tax** Value Added Tax is not recoverable by the Charity and as such is included in the relevant costs in the Statement of Financial Ac.vi.es. ## **2 TaxaPon** The Charity is a registered Charity and accordingly is exempt from taxa.on on its income and gains where they are applied for charitable purposes. ## **3 Investment Income** |**Investment Income**||| |---|---|---| |||| |**Source of investment income**||**2025**| |||**£**
5| |Bank interest||| |||| |||| **THE LORD MAYOR OF CANTERBURY'S CHRISTMAS GIFT FUND** Page 6 **NOTES TO THE ACCOUNTS FOR THE PERIOD ENDED 5 APRIL 2025 (conPnued)** |**4**|**Total resources expended**|**2025**| |---|---|---| |||**£**| ||**Charitable acPviPes**|| ||Costs directly allocated to ac.vi.es|| ||Vouchers & dona.ons|-| ||Support costs allocated to ac.vi.es|| ||Other prin.ng, postage and adver.sing|163| ||Hire of equipment (Street Organ)|200| ||First Aid|275| |||638| ||**Governance**|| ||Independent examina.on fee|-| |**5**|**Trustees' remuneraPon and expenses**|| ||The trustees neither received nor waived any emoluments or expenses during the year (|| The trustees neither received nor waived any emoluments or expenses during the year (2024: £Nil) |**6**|**Analysis of net assets between funds**||**Unrestricted funds**| |---|---|---|---| ||**Current Assets:**||**2025**| ||||**£**| ||Lloyds Current Account||2,346| ||Lloyds Savings Account||232| ||Virgin Money Deposit Account||32,838| ||Total Assets||35,416| ||||| - **7** The Charity has not given any guarantees. - **8** The Charity does not have any outstanding debts.