We have stockings full of little bits. In general they cost about £1 -£2 each. Little bits does not include £6 books and dvds, they are expensive. I start collect early to find the bits. We usually have an orange and 50p in the toe of the stocking. It usually includes a bag of choccy money and a chocolate santa figure. Also toothbrush (the character ones that I refuse to buy the rest of the year) sometimes knickers - again if they have favourite peppa pig etc on them. We try and make sure there are things to play with.
This means lots of opening, lots of wrapping paper, and in total about £15 per child for the sticking (our stockings aren't that big either!)
Then under the tree there is a big present, plus 2 or 3 smaller ones. Again very important there is something they can actually play with now, even if it is one of the smaller ones. Total under the tree about £50 per child.
I find it very important to limit the christmas gift giving. We focus on great day, lots of games and lovely food. They get presents form other people too, how much do they actually need? We do use ebay for things so they get maximum for the money, eg cheaper lego, but they are old enough that it is important it doesn't look second hand now.
If there is a bigger gift we want to get, eg a bike, then it would be birthday. I would never spend more than £100 then either (so no ipads or wiis here!)