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REGISTERED COMPANY NUMBER: 10765046 (England and Wales)
REGISTERED CHARITY NUMBER: 1173001









Report of the Trustees and

Financial Statements

for the Year Ended 30 May 2023

for

Chips Charity Limited

Chips Charity Limited






Contents of the Financial Statements
for the Year Ended 30 May 2023




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

Chips Charity Limited (Registered number: 10765046)

Report of the Trustees
for the Year Ended 30 May 2023


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 26 chairs were handed over which was up by 8 chairs on the previous year. Funds from sources including Genting, FNAIST, Tower Bridge (BGC Charity Day), Clarion, Passport Technology and the CHIPS Golf day. CHIPS was able to deliver freedom and mobility to youngsters from Leicester to Canvey Island and Cornwall to Norwich

Financial Review

The statement of the finances is attached to this report and shows an income of £387,998 with an expenditure of £219,922 .

Funding

FNAIST part funded 16 chairs and donated £16K with top up's in some cases from the Boparan trust, both trusts allow CHIPS Charity to take all the credit.

CHIPS Charity received £160,000 from Genting UK, which would fund a minimum of 17 chairs over the following 12 months.

CHIPS Charity received £50,000 for Ambassadeurs Group which funded 5 chairs.

CHIPS Charity had donations via Just Giving which amounted to £16,800, which came from Genting tennis tournament and the Royal Parks half marathon, predominantly from the Genting team.

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 these 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.

We are continuing to use James Barnfield as our preferred supplier and he has proved to be an asset when we have received applications from other suppliers. James has been prepared to give us his professional opinion on quotes, even when he has known that he would not be supplying the equipment. Other charities must employ assessors or rely on the family's requests, which aren't always the correct equipment for the child.

The 2022 Golf Tournament netted £55K 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 2023 was £89,000.

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 are mindful that 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


Chips Charity Limited (Registered number: 10765046)

Report of the Trustees
for the Year Ended 30 May 2023

STRATEGIC REPORT

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
Mrs L G Lindsay
Mr R A Rubenstein
Mr C J Jones
Mr P McNally
Mr P S Willcock President & Chief Operating Officer

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 26 February 2024 and signed on the board's behalf by:





Mrs L G Lindsay - Trustee

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 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

1. 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
3. 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
4. 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

26 February 2024

Chips Charity Limited

Statement of Financial Activities
for the Year Ended 30 May 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 281,640 68,046

Other trading activities 2 105,668 73,874
Investment income 3 690 538
Total 387,998 142,458

EXPENDITURE ON
Raising funds 37,009 30,534

Charitable activities
Electric wheel chair donation 178,689 137,481

Other 3,519 3,544
Total 219,217 171,559

Net gains/(losses) on investments 5,258 (4,568 )

NET INCOME/(EXPENDITURE) 174,039 (33,669 )


RECONCILIATION OF FUNDS
Total funds brought forward 113,883 147,552

TOTAL FUNDS CARRIED FORWARD 287,922 113,883

Chips Charity Limited (Registered number: 10765046)

Statement of Financial Position
30 May 2023

2023 2022
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Investments 6 81,023 79,616

CURRENT ASSETS
Debtors 7 4,904 5,763
Cash at bank 220,727 61,368
225,631 67,131

CREDITORS
Amounts falling due within one year 8 (18,732 ) (32,864 )

NET CURRENT ASSETS 206,899 34,267

TOTAL ASSETS LESS CURRENT LIABILITIES 287,922 113,883

NET ASSETS 287,922 113,883
FUNDS 9
Unrestricted funds 287,922 113,883
TOTAL FUNDS 287,922 113,883

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 26 February 2024 and were signed on its behalf by:





Mrs L G Lindsay - Trustee

Chips Charity Limited

Notes to the Financial Statements
for the Year Ended 30 May 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at 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
2023 2022
£    £   
Golf tournament income 105,668 73,874

3. INVESTMENT INCOME
2023 2022
£    £   
Investment Income 690 538

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 May 2023 nor for the year ended 30 May 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 May 2023 nor for the year ended 30 May 2022.



Chips Charity Limited

Notes to the Financial Statements - continued
for the Year Ended 30 May 2023

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 68,046

Other trading activities 73,874
Investment income 538
Total 142,458

EXPENDITURE ON
Raising funds 30,534

Charitable activities
Electric wheel chair donation 137,481

Other 3,544
Total 171,559

Net gains/(losses) on investments (4,568 )

NET INCOME/(EXPENDITURE) (33,669 )


RECONCILIATION OF FUNDS
Total funds brought forward 147,552

TOTAL FUNDS CARRIED FORWARD 113,883

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
MARKET VALUE
At 31 May 2022 79,616
Disposals (3,745 )
Revaluations 5,152
At 30 May 2023 81,023
NET BOOK VALUE
At 30 May 2023 81,023
At 30 May 2022 79,616

There were no investment assets outside the UK.

Chips Charity Limited

Notes to the Financial Statements - continued
for the Year Ended 30 May 2023

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 May 2023 is represented by:

Unlisted
investments
£   
Valuation in 2022 (1,844 )
Valuation in 2023 5,152
Cost 77,715
81,023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 4,904 5,763

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Accruals and deferred income 18,732 32,864

9. MOVEMENT IN FUNDS
Net
At movement At
31.5.22 in funds 30.5.23
£    £    £   
Unrestricted funds
General fund 113,883 174,039 287,922

TOTAL FUNDS 113,883 174,039 287,922

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 387,998 (219,217 ) 5,258 174,039

TOTAL FUNDS 387,998 (219,217 ) 5,258 174,039


Comparatives for movement in funds

Net
At movement At
31.5.21 in funds 30.5.22
£    £    £   
Unrestricted funds
General fund 147,552 (33,669 ) 113,883

TOTAL FUNDS 147,552 (33,669 ) 113,883

Chips Charity Limited

Notes to the Financial Statements - continued
for the Year Ended 30 May 2023

9. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 142,458 (171,559 ) (4,568 ) (33,669 )

TOTAL FUNDS 142,458 (171,559 ) (4,568 ) (33,669 )

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 May 2023.