My mum used to read this to us when we were children - it really added to the magic of Christmas, especially as 'Father Christmas' then used to write notes to us on the back of beautiful postcards.
Tolkien builds a fabulous picture of Father Christmas's world in a way that shows how he understood children so well - of course there has to be a North Pole, and I never forgot the stories of the North Polar Bear climbing up to get Father Christmas's hat back and breaking it because he had been eating rather a lot and was a bit plump! The goblins were a bit scary, the North Polar Bear a bit scatty (one year he went to sleep in the bath and the cellars got flooded ruining all the presents so that year there nearly weren't any presents at all). So beautifully illustrated and magical, my brother and I would beg my mum to re-read the book every year in the lead up to Christmas and when we got our cards from FC it was always a highlight of Christmas morning. My mum never wrote as much as Tolkien or drew pictures, but a few lines in shaky writing thanking us for the sweets we left out and and telling a small story to explain if we hadn't quite got what we'd asked for was part of the magic of Christmas - it stopped us complaining if we got something different and we always treasured the cards - who says everything about Christmas has to be expensive! Every friend of mine gets a copy when they have their first child.