Charity registration number 1155547
Company registration number 07816604 (England and Wales)
NORWICH OPEN CHRISTMAS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
NORWICH OPEN CHRISTMAS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr W M Ashton
Miss C W Lunney
Mr L Newman
Miss Doreen Brookes
Charity number
1155547
Company number
07816604
Principal address
27A The Street
Brundall
Norwich
Norfolk
NR13 5AA
Registered office
4b Church Street
Diss
Norfolk
IP22 4DD
Accountants
Waveney Accountants Limited
T/as Newman & Co
Chartered Accountants
4b Church Street
Diss
Norfolk
IP22 4DD
NORWICH OPEN CHRISTMAS LIMITED
CONTENTS
Page
Trustees' report
1 - 2
Accountants' report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 9
NORWICH OPEN CHRISTMAS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The trustees who are also directors of the charity for the purpose of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 2015).

Objectives and activities

To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society. For the purpose of this clause socially excluded means being excluded from society, or in parts of society, as a result of one or more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical/mental); substance abuse or dependency including alcohol or drugs; discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender reassignment; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards); crime (either as a victim or crime or as an offender rehabilitating into society).

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

An event to provide a traditional Christmas Lunch and Christmas tea plus an afternoon of varied entertainment. Whilst based on Christian concepts, it is open to all socially excluded people, especially those who are lonely or homeless, irrespective of religious belief. Guests are asked to choose donated clothing and take away non-perishable foodstuff. To ensure that we are as inclusive as possible we provide free transport, including a disabled persons' vehicle to and from the venue.

Achievements and performance

Thankfully, this year, we were not restricted by Covid and were therefore able to provide our usual event and welcomed approximately 400 guests to St. Andrews Hall in Norwich. The event is funded by both corporate and private donations plus a donation in kind from Norwich City Council. We also have help from over 200 volunteers who give up their time before, on Christmas Day and afterwards to put on the event.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three years expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Charity needs to raise over £10,000 each year, in money and kind, to hold the event, The trustees believe that the number of guests will continue to rise each year as will the need to raise increased donations. Excess reserves are carried forward to ensure that future events are funded. The charity also ensures that sufficient reserves are kept to fund the hire of the venue in case future grant funding is unavailable.

The trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

 

 

 

 

 

 

 

 

 

 

 

NORWICH OPEN CHRISTMAS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Structure, governance and management

The Charity is controlled by its governing document, a deed of trust, and is constituted as a company, limited by guarantee, as defined by the Companies Act 2006.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr W M Ashton
Miss C W Lunney
Mr L Newman
Miss Doreen Brookes

New Trustees are appointed by existing members of the Board. Future appointments are likely to be selected from the Charities existing pool of supporters and will be people closely associated with the Charity and supportive of its ethos and objectives.

Mr W M Ashton, a trustee of the charity, has been delegated with the day-to-day management of the company.

New Trustees will be inducted into the charity following their appointment by an existing member of the Board. If necessary training will be provided in order to ensure that they are able to fulfil their obligations as trustees.

The trustees' report was approved by the Board of Trustees.

Mr L Newman
Trustee
Dated: 27 December 2024
NORWICH OPEN CHRISTMAS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NORWICH OPEN CHRISTMAS LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norwich Open Christmas Limited for the year ended 31 March 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 8 September 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Norwich Open Christmas Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norwich Open Christmas Limited and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Norwich Open Christmas Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Norwich Open Christmas Limited. You consider that Norwich Open Christmas Limited is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Norwich Open Christmas Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

27 December 2024
Waveney Accountants Limited
Chartered Accountants
T/as Newman & Co
Chartered Accountants
4b Church Street
Diss
Norfolk
NORWICH OPEN CHRISTMAS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
3
11,859
7,420
Investments
4
457
348
Total income
12,316
7,768
Expenditure on:
Charitable activities
5
20,890
13,784
Total expenditure
20,890
13,784
Net expenditure and movement in funds
(8,574)
(6,016)
Reconciliation of funds:
Fund balances at 1 April 2023
24,266
30,282
Fund balances at 31 March 2024
15,692
24,266

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

NORWICH OPEN CHRISTMAS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 5 -
2024
2023
Notes
£
£
£
£
Current assets
Cash at bank and in hand
15,692
24,266
Net current assets
15,692
24,266
Net assets excluding pension liability
15,692
24,266
The funds of the charity
Unrestricted funds
15,692
24,266
15,692
24,266

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 27 December 2024
Mr L Newman
Trustee
Company registration number 07816604 (England and Wales)
NORWICH OPEN CHRISTMAS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
1
Accounting policies
Charity information

Norwich Open Christmas Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 4b Church Street, Diss, Norfolk, IP22 4DD.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

NORWICH OPEN CHRISTMAS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 7 -
1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Total
funds
2024
2023
£
£
Donations and gifts
11,859
7,420
NORWICH OPEN CHRISTMAS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
457
348
5
Charitable activities

 

 

2024
2023
£
£

Food

4,834
2,471

Hire of venue

3,410
1,623

Consumables

143
994

Equipment purchases

76
897

Cleaning

379
140

Equipment hire

610
317

Storage

2,659
3,174

Insurance

271
207

Telephone

252
252

Postage and stationary

341
157

Sundries

320
586

Security

638
866

Licences

957
850
Charitable donations
-
1,250
Adminstration
6,000
-
20,890
13,784
20,890
13,784
6
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7
Employees

The average monthly number of employees (including trustees who are also directors for the purposes of the Companies Act 2006) during the year was:

2024
2023
Number
Number
4
5
There were no employees whose annual remuneration was more than £60,000.
NORWICH OPEN CHRISTMAS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
8
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
At 31 March 2024
£
£
£
£
General funds
24,266
12,316
(20,890)
15,692
Previous year:
At 1 April 2022
Incoming resources
Resources expended
At 31 March 2023
£
£
£
£
General funds
30,282
7,768
(13,784)
24,266
10
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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