2006 THE JOHN ROBINSON YOUTH CHESS TRUST TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023
THE JOHN ROBINSON YOUTH CHESS TRUST FINANCIAL YEAR ENDED 31 AUGUST 2023 CONTENTS OF TRUSTEES. ANNUAL REPORT AND RETURN Page Legal and regulatory infomiation Report of the Tru8tee$ Report of the independent examiner Statement of finandal actlvkle8 Balance Sheet Note8 to the financial Btatements 10-13
THE JOHN ROBINSON YOUTH CHESS TRUST FINANCIAL YEAR ENDED 31 AUGUST 2023 LEGAL AND ADMINISTRATIVE INFORMATION Reghtsred Ch•rlty numbof 1116981 Dr. John Higgs (Chalnnenl Mr. Gery Walsh r. lan Reynolds wtm Natasha Regan Addr• 6 Mayfield Worth Crawley We8t Su$s•x RH10 7FT web. www.johnrobin8onch888.org emall. admin@J'ohnrobiMond)e$s.org Bankor• Indopend•nt Examlnern Nalwest Bank PLC Ha61ing$ Branch Havelock Road H861ings East Sussex TN34 OGW Watson As8oGiate8 {Audrt Service$ Ltd) 30-34 North Slregt, Hallshmm. E88t Su88ex BN27 1DW
THE JOHN ROBINSON YOUTH CHESS TRUST FINANCIAL YEAR ENDED 31 AUGUST 2023 REPORT OF THE TRUSTEES Charlty The Tru8t w88 r•gi8tered by the Chaty Commissionern on 24 Nov8mb8r 2006. Govomlng docunwnt Deed of Variatlon dated 24 June 2006. Charltable obioctivei To adv8n¢a eduGation by providing or a88i8tlng In the provi81on of facilities for the teaching development and 8upervi8ion of the playing of chegs amongst persons under the age of nty•one, resident in England or ellgible to repre8ent England at ¢hes8. Appointment of new Tru8tee¥ Is vested in the Councll of the Brrtlsh Che85 Federation. Tru81ee8 may be appointed at any time leith8r by way of repla¢8ment or addltlon) so that the totsl numbor ot TN8ts88 shall at no time exGeed four. Tru6tee$ may be removed by a re801ution of thg Council of the British Ch8$9 Fed8ratlon pa88ed wlth a mrlty in favour of 75% of those pr8senl In person or present by proxy and voting thereon. Swnmary ol Ihe maln achl•vom•nts In tho Poriod The Trust contlnues to provide 8UPPOrt toward8 junlor cho$$. Wrth the full return of over tha board chess durlng Ihe audit year the Trustees were able to relum lo business a8 usual and made a wide range of forniative grants to individual players, ch888 aSriatIOnS and varioug ov•nt>. The Trustses established a web¥5te durlng the year which h8B been wannly welcomed by tho•0 In the junior 85 community. Finan¢ial revlaw Tho Trust fund8 remain fully invested and have Increased in overall value during the financial yèar. The main source8 offunds during Ihe period have been divldends. The majority of income 18 applied to grants. Expanses and profassional f888 are th8 Other main areas of expenditure. Pollcy on Invoslm•nts The retum objective of Ihe Tntst is to re1ve incorne, after feeg, in the region of £29,000 per annum whilst maintaining the r831 value of the assets. The inGome genered (net of fees) is nornially diBtributed quarterty. Th• risk tolerance is 'lwer risk, but gwen long investmènt
tim6 horizon th8 desire to mavtsin the vdue of thè ets, thar8 is scop& for an allo¢ation to equith. Constraint&' The Trnt 18 managed with a lorytirne h¢xizon In miyj as the Trt• wish to Support junior cr5 for decades ahoad Given that1here1g Ill of 8h distributions b•yond the quartth dOn9 of dMdend8. there are little or IKlUty IX)nstralnts for the Charity. Due to the TrusV8 charltable status th8re are no tax constraints nor ar8 there any legal or regulatory constraints. The Tr hav8 requested swral ethical constraints and there are to be no investmerts in amHnents, tobacco or gambiiry. Pollcy on r•Mrv The Tru8t hokjs cash at bank of £38,501 representirKJ unrestricted funds lo applled for the ch8rty'8 obJ'ectNe8. Since 2006 when the Trust was founded it has been the polw of the Trust3 to.. (l) To treat the ca1 of the Trust as a [anOnt erKlcvmienl and rKt to wd more than th• acuJmulat8d ino)me on grants frorn th• Trust, unles8 there are grant applicth'on8 that m•rit expen(ItLK8 and above the esllmated Income. A180 held are fijnds t(AalliThJ £838,524 by the Tru8V8 InV•Str manager8. To th8 8Xt8nl that th888 do not rnpre8ért accumat0d due to be yid over the88 Ire to be applied for the wwthase of investm Plan• for th• futur• The Trust wlll ¢onlOnue to support chess events 8fKI inthidual Junior aYerS by way of grant giwng and wlll aKvay8 consbjer grant appliGation8 on merit and with an op•n mind. Tru•l•••' r••pon•lbllltl•• In r•lallon to th• iln•n¢lal ststwn•nt• The ch81ity trustees arn respornblo for marlng an annual report arKI fin8nclal $tstements in accordance wrth applicaL4e law and United Kirydom Accounting Standards (Unlted Kingdom Genernlly Acceptsd Accourrtlng l>raclice) The law applicable to tharitles in ErKJlarKI and W8le3 requir88 the charlty trustees to prepare financial stal•menls for eath year thich give a true and far view of th& state of aff8ifS of the charity and of the Inmry resou atKI application of rg•ourc•¥, of the tharity for that period. In preparing the financial semer. the trustees we required to.. • sdect ble 8¢counting pdlde8 and then appty them ¢on8Wtenty,' • obwrfe the nhOd8 KI wwKiiA88 in the applicl8 Charities SORP., • state whethr aFpIIc4blo stsndath have Imn folltrwed, suwt to any material departures disc105ed arKI e*ained in the finaal statements:
prepare the financial statements on the going concem basis unless rt is inappropriate to presume that the tharity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the finanaal position of the charity and to enable them to ensure that the financial statements comply with the Charities Ai* 2011. the applicable Charities (Accounts and Reports) Regulations, and the prowsions of the Trust deed. They are also responsible for safeguarding the assets of the charity and takn.ng reasonable steps for the prevention and detection of fraud and other irregulartties. The trustees are responsible for th8 rna1ntenan and integrity of the charity and financial infomiation included on the charity's websrte. Legislation in the Unrted Kingdom governing the preparation and dissemination of financial statements may drffer from legislation in other jurisdictions. The truste8s are content that Mr John Rokn'nson, our founder, would approve of the efforts of the Trust over the last year and woukl be satiSfd that th8 Tw$t is meeting the moral and legal obligation8 that it owes to its b8neficiaries and to its benefactors. Approved by the Trustees on 20th May 2024 and signed on their behalf by.. Dr. John Hlgg Chalmian
THE JOHN ROBINSON YOUTH CHESS TRUST FINANCIAL YEAR ENDED 31 ALIGUST 2023 INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF THE JOHN ROBINSON YOUTH CHESS TRUST I report on the financial 8latement8 for the year ended 31 August 2023, which or8 sot out on page8 8 to 13. Re8PO¢tlv• re8ponsibllitlo8 of tru8ts08 and u•mln•T Tha charity's truste arn respon8lbk8 for the preparatlon of thé accounts. The charity'8 trustees ¢onsider that an audit is not required for thls year under 8ection 144 of the Chariti88 Act 2011 and that an indapendant 8X8mination is needed. Having been 6ali8fied that thg Gharity is not 6ubje¢t to audtt und•r charity law and li •llglbi for iTrJependent examlnallon rt18 my responsibility. To examlne the account8 under s8Ctlon 145 of the 2011 Act., - To follow the procedures lald down In the General Direction6 glven by tha Charity Commls$lon under section 145(5)Ib) of th8 2011 Act- and - To $tat• wh•ther particular motl8r8 h* como to my attentlon 8asls of Indepondènt oxamIne3 Mport My examinallon was Garrfed out in accordance wlth the General Directions glv&n by the Charity Commission. An examinatlon Includ88 a review of the accountlng records kept by the charty and a comparison of thè accounts pr8s6nt•d wlth those record8. It al80 include8 consideration of any unusual Items or disclosures in tho accounts, and the seeking from you as trustees ¢oncerning any such matters. The procedures undertaken do not provtde all the evidence that would b6 included in an audit and, consequenlly. no opinion ie given 88 to whether the account$ present a 'true and falr vlew. and the report 18 limited to those matter8 Bet out in thé gtatem8nt below. Independont examIne8 8tatsmont In connection with my axamlnatlon, no mattor has com to my attenllon". (1) 7¢h gives cause to bell8vè that, In any materlal respect, the requirement8.' - To keep accounting records in accordance with section 130 of the 2011 Act.. - To prepare accounts whlch comply with the accounting rocord8 and to comply wlth the a¢untIng requirements of the 2011 Act and with the method$ and prinGiples of the Statement of Recommended Practice: Accounting and R8portlng by Charlties (revi8ed 2005) have not been met", or (2} To whlch, in my opinion, attention should be drown in orrler to enable a proper urKfe anding of tKè accounts to b8 r8ached. Mr. John Males FCA Watson Assocrates (Audit SeTvices Ltd) 30-34 North Slreet, Hai18ham. East Sussex BN27 1 DW
THE JOHN ROBINSON YOUTH CHESS TRUST FINANCIAL YEAR ENDED 31 AUGUST 2023 STATEMENT OF FINANCIAL ACTIVITIES Totsl 2023 Total 2022 Income Irom: Inve8tment incom• Donation 29,598 29,437 58 Tolal 29,596 Expendlturn on: Grants Governance cost8 22,435 1.882 24,625 1.507 Totsl N•t In¢om• l(oxpondltur•l 5.279 3,363 {Losg)IGaln8 on inv8stm8nt as8et8 (68,937) 3,370 N•1 movement In fund• j63,858) Reconclllatlon of lund• Fund8 brought forward 937,603 930,870 Funds carr1 forward 937 803 A Statement of Total Recognised Gains and Lo88es Es not requlrod as a15 gains and10$8e8 ar• inGludod in th• 8tatemont of Flnandal Adlvlll•s. All incoming resources, resour$ expended and r88ulting net mov8m8nt in fund8 are derfvad from contlnulng acts'vitie8. Atl funds are unrestrfcted. Thè atta¢hed notes form part of these fflnanclal statements.
THE JOHN ROBINSON YOUTH CHESS TRUST FINANCIAL YEAR ENDED 31 AUGUST 2023 BALANGE SHEEr 2023 2022 Flxed a8gets Investments 836,524 905,461 Current aJ88ts Cash at bank Debtor8 38,501 33.172 50 33,222 38,501 Cr•dltor• Amounts falling due thin one year Nel current a880ts 37,421 32,142 current Ilabllltlos Tho Fund• of th• Charlty Unr••trlctod fund8 873,945 937,803
THE JOHN ROBINSON YOUTH CHESS TRUST FINANCIAL YEAR ENDED 31 AUGUST 2023 NOTES TO THE FINANCIAL STATEMENTS 1. Accountlng pollcle8 The principal accounting policies are $ummarised b8low. The accounting policies have been applied consi6tently throughout thè year and In the previous year. l. Ba818 of accountlng The finanu81 Statements have been pr8pared in accordance with the Statement of Recommended Practice: A¢untIng and Reporting by Ch8ritie8 applicable to charitie8 pr•paring their accounts in accordance with thè Flnan¢lal Reporting Standard applicable in the UK and R6public of Ireland IFRS 102) 8ffe¢lfve January 2015 and the Financlal ReportirKJ Standard apICable in the UK and Republic of Ireland IFRS 102). Assets and Ilabllltl88 arè recognised at historic cost or transaction v8lv• unlojs otheNl¥e Stated in thè relavant accounting policy or notels). The finandal statements comply with thg Charitles (Accounts and Rewrt8) Regulations 2008 i88ued under the Charitles Act 2011. 11. Publlc bènèllt entlty The charity mèèts thè dnItIon of a publlc benefit anllty und8r FRS 102. 111. Fund •Gcountlng All fund$ are unrestricted and aro available for u88 by the Tru8tees in furtherance of the general oblectlv&8 of the Trust, fv. Ineomlng ro•ourco• All incoming resources ara Include(l in the Statement of Flnan¢lal Activllles when Ihe Trust Is •ntitl•d to tho Incoma and th8 amount can ba quAntift8d wllh reasonable certainty. v. R6gourca$ •xpend•d ExpondUrQ Is recognised on an accrualB b8818 88 8 Ilablllty 1$ Incurred. Govemance costs include tho¥8 costs associated w4th the constitutional and statutory reqUirn&nts of the harity and Indud• co* linked to the 8tsategic management of the chority. vl. Commltrn•nts for futur• •xponditur• Other than nomial commitments inherent to the operation of the charlty and urKler contractB of employment there are no Contractual obligations to future eXndItUre at the balanc8 sheet data. Where the trustseg authorise expenditure, which is not18gally enforceable at the balane6 sheet dats the appropriats amounts ar6 set aside into designated funds. There were no amounts authori8ed at the year io
THE JOHN ROBINSON YoufH CHESS TRUST FINANCIAL YEAR ENDED 31 AUGUST 2023 NOTES TO THE FINANCIAL STATE11ENTS 1. Accountlng pollclo• ¢¢nllnu•d VIL Cash Flow Slatsment Th• chanty has tsken advantage of the exemp.On provid8d by Finandal ReportirvJ Standard No. 1 ond AccountirKJ by Chartues Statem•nt of ReconNxended pra#1 and ha8 nol prnpared a cash Ilow statement for the year. vlll. Flx•d assets Inv88tmènts held as fixed assets are shn at th8 mvj-market valu8 on the baLance sheet date. Gains and tcthes on the diiposal of inve8tments are taken to the Statement of Financial Activitles In the CK1 in which they 0¢r. l Gran1• 2023 2022 Engll8h Cl3 Federatlon: FIDE onlln8 Otymyad Other events 1,500 1,8QJ 8rftish Chess Championshlp8". Event 8UPPOrt Junior coachlng 7,500 5,000 2,500 The Chess Trust 5.Q)O Grant for •v•nt• 8,825 Other grant8 4,935 2,200 22.435 24,625 li
THE JOHN ROBINSON YOUTH CHESS TRusr FINANCIAL YEAR ENDED 31 AUGUST 2023 NOTES TO THE FINANCIAL STATEMENTS 3. Gov•rnanc¢ colts 2023 2022 Admini8tratlon & legal fees IrMJ8p8fKlent examinern fB88 802 1,080 427 1,080 1.882 1,507 ak Trwt•o•' romungr•llon and b•n•llts There were no Trustees remunwation (w oif*r t•Mffts for the year ended 31 AuguBt 2023 (31 Augu8t 2022,. nil) 8. Trugts08' oxp•nM8 Trustee8' exp8n8es paid ftsr tho y•4r éndad 31 August 2023 totalled £53 (2022 - £131). 6. Inv••tmont as•ets 2023 Inve8tm8nt8 The ry)8t of the inve8tMo hokl at 31 Awst 2023 was £806.682 (2022 - £802,682). At 31 August 2023 tho assets consisted of investrMnts in the COIF Charities Investrnent Fund, the COIF Charities Ethlcal Investrnent F(nJ and ts COIF charit Property Fund. 7. Debtorn 2023 2022 50 50
THE JOHN ROBINSON YOUTH CHESS TRUST FINANCIAL YEAR ENDED 31 AUGUST 2023 NOTES TO THE FINANCIAL STATEMENTS 8. Cr•ditorn: Amounts falllng due wfthln one yoor 2023 2022 Accru6d expenses 1,080 1.080 1,080 1,080 g. Capltsl Commltmonts There were no rApltal commitments not provided for in the financlal statemonts for the year ended 31 Augu8t 2023 (2022 NII) 10. Ultlmat• Controlllng Party The charfty ij ntrOlled by ihe Indep8nd8nt Board of Trust808. 13
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the , accounts Section A Independent Examiner's Report Report to truta••l mombors of THE JOHN ROBINSON YOLrrH CHESS TRUST On a¢Unts for the y•ar 1 31 AUGUST 21r23 Charlty no 1118981 Sel out on pago8 1-2 I report to the trustees on my examinatlon oftt accounts ol th8 above tharity Trusf) for yoar ended 31 Augujt 2023. Ruponslblllllo• Ind b••l• of roport A8 the ch8rW8 trustees, you are responslble for th8 preparation ofth8 accounts In ac¢wdan¢e with the fequiremonts of the Charitias Act 2011 I r8port tn re8pec4 of my exarnlnation of thè Tru8f$ accounts c¥rlèd out under 8edion 145 of tha 2011 Act and in carying out my 8xamlnation, I have followed all the applilxble Directbon8 given by the Chanty Comml•8lc r section 14515Xb) of ts Act. Indepond•nt I have ccAnpleted my examinab'on. I cMfimi that no material matter3 have examlnerfj statement Come to my attention In conn8caion with the examination which giv•• me cause to believe that in. any material re8P8Gt.' the accounting r8¢ords were not k6pt in 8ccordar¢• wkn gectlon 130 of the Charities A(a,' or the accounts did not accord with the accountlng records," or tho a¢¢ounts dKI not comply wth the applicable r•quir•monts concemlng the lOn and Gontent of a¢nts set out In the Charities (Accounts and Reports) Regulations 2CQ8 other than any requirom&nt that the aGcounts gNe a 'true and fal¢ view whlch 18 not a matter consKl8red as part ol an In(ndnt examlnatlon. I havo no corKems aThJ have come across no other mattèr8 In connectlon wlth the examlnatson lo vthich attentyon Should be dr¥•vn In thL8 report In Order to énablo a rrfoper understandlng of the accounts to be reached Slgn•d: 19103r2024 JOHN CHARLES MALES Rèlèvant prof•sslonal I ICAEW qualificatlonl81 or body , FCA (rfany)- [ Addr5. , 34 NORTH STR .' HAILSHAM I EAST SUSSEX. BN27 1DW IER Oct 2018
Section B Disclosure Only C(xnPts rfthe examiner need8 to highlight material matters of concem (seo CC32. IndeFent examination of chwty accounts.. directions and guidance for exarninersl. Gfve here brlef dotalh of any itsmg that the examinor wl•hM to dl•cloM. IER Oct 2018