COMPANY REGISTRATION NUMBER.. 07017640 CHARITY REGISTRATION NUMBER: 1133120 Chess in Schools and Communities Company Limited by Guarantee Trustees, Report & Financial Statements 31 August 2025 FLINTHAM MACKENZIE AUDIT LIMITED Chartered accountants & statutory auditoi 277-279, Chiswick High Road London W4 4PU
Chess in Schools and Communities Company Limited by Guaranteg Flnancial Stateménts Year ended 31 August 2025 Page Trustees, annual report (incorporating the directorfs report> Independent auditrrfs report to the members Consolidated Statement of financial activities (including income and expendiiure account) Consolidated Ststement of financial position 14 21 Charity Statement of financial position Statement of cash flows Notes to the financial statements 24
Chess in Schools and Communities Company Limited by Guarante8 Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 August 2025 The trustees, who are also the directors for th8 purpuses of company law, present their report and th8 financkgl statements of tha charty for the year end8d 31 August 2025. Chalrfs roport Rtrferen and admln18tratlve details R8glst•red charity nam Chess in Schools arKI ComTnunities Charlty registration number 1133120 Cornpany reglstration number 07017640 Principal office and registornd 44 Baker Street t)fflce London W1U 7RT The trustè8s Stephen Meyler PJison Sharp William Walson Isabel Keen stephgn O'connell CBE Christoph&r John Clark {Appoinled 12 FebTuary 2025) Audltor Flintham Mackenzie Audit Limited Chartereé accountsnts & statutory auditor 277-279. Chiswick HNJh Road London England W4 4PU
Chess in Schools and Communltles Company Limitsd by Guarantee Trust886' Annual Report (Incorporating the Directorfs Report) (thQd) Year ended 31 August 2025 8tructUrn¥ gov•rnanco and managemont The Trustses presènt their annual report together wtih the audited financial ststements of charity for the year ended 31 August 2025. The annual rep(wt serves the purposes of both a Trustees, reF)Ort and direclDrs' r8port under company law. Thg Tntstees confimi Ihat the annual report and financial statements of the charitatAe company comply with Ihg current statutory requlrements. the requirements of the charitable Mpan5 gov8ming d(tument and the provisions of the Statement of Recommended Practice (SORP) appluble to charfdes preparing their accounts in acwrdance wilh the Financial Rewrting Stsndard ap[AiCab in th8 UK and Republic of Ireland {FRS102) (effective 1 January 2019). Since the group and the charity qU81ify as small und8r se¢iion 383 of the Companigs Act 2006. the group slrategic report required of medium and large companies under the Companigs Act 2006 Istslegic Ret and Directors, RepDrtI Regulalbons 2013 has been omitted. . Conslltutlon Chess in Schools and Communtties is register&1 ag 8 charitatJe company limited by guarantee and was set up by a Memorarsdum ofAs50cialion daied 14 September 2009. b. Methods of appointmont or olgctlon of Trustees The management of the Group and th& charity is the responsiknlity of the Trusl80s who ar8 elected and C0p1ed urider the teryns of the Memorandum of Associallon. ¢. Oryanlsafjonal structure and decision-making policies The day-to-day running of the organisation is delegated to senior staff comkyising.. the Chief Executive and the Chief Operating Officer who are part of a four-persor¢ SMT. In 2016 the charity appointe(J a Head of Safeguarding. In 2025 the charity appointsd a Deputy Head of Safeguarding and expanded the London team lo 6 staff. The Trustegs meet regularfy to discuss issues of strategic direction wncemirvJ the model for Chess teaching in schwls, fund raising strategies and public affairs. The Trustee meetings detem)Ine the strategic plan. consider performance against Ihe plan. maSrrtain the risk register approve Ihe budget pParad by the Chief Executive. d. Policies adoptod forthe induction and trnlnlng of Twstees Trustees are given an introductlon to the organisation and the role of a Trustse by the Chief Executive and Chief Operating Officer through attendan¢ at regular Trustee meetings, charity fundraising activlbes and events a&sociated with the delivery of the core programme. All new Trustees are given a copy of the Charity Commission's publication CC3 whiL describes their legal duti8s and responsibilities. Trustees rec&ive a comprehensive uwlate from the Chlef Executive times a year and relevant documentation induding end of term reports, fund raising, schcd contributions, perfomiance against strategic plan, reports from individual bor(yJghs, press cuttirMJs and UFKJatss on charivs public affairs campaiqn. Tnjstees also attend the Charit$ fiagship 8venL the London Chess ClassiG detaiL% of which are at véww.londonchessclassic.com. The Chair of Trustees is also invited lo the annual Senior Sl8ff meeting. e. Ramuneratlon policy The Chief Executlve afmj Chief 0rating Officer complete a review of all stairs remuneration, rU1ng Senior Management, taknng into account the economK indicators and the charity salary
Chess in Schools and Communities Company Llmlted by Guarantse Trustees. Annual Report (Incorporating tho Directorfs Report) (¢tsnllTru•dJ Year ended 31 August 2025 market. The Board of Trustees will revi the CEO and CO(Ys remuneration, using comparable organisations as a benchmark. f. Flnanclal rlsk managernont The Trustees have assessed the Malc risks to which the Group and the charity are exposed, in parti(JJlar those relatgd to Ihe operations 8nd financ8s of the Group 8nd the charity, and are satksfied that systems and procedures are in place to mitigate extKtsure to the major risks
Chess in Schools and Communities Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (wndnu•dJ Year ended 31 August 2025 objèctiv and actlvltles Objoctlves The charivs objects per the Memorandum of Associati are: The advancement of education for the publie benefft by promoting the mental and moral development and improvement of young people, in particular those who are socially and economically disadvantaged. through the promotic, teaching. coaching, playing and c4Jmpetition of chess. The advancement of amateur swrt, including th8 encouragement of community participation, for the public beneK through the promotton, teaching, coaching. playing and wmp9tition of chess. Th8 promotion of social inClusn for the publlc benefft through the promolion. teaching, coaching, playino and competition of Chess among those who are socialty excluded as a result of unemploym8nL finanaal hardship. ag8. ill healih or disability. These objgctives are pursued by the delivery of weekly chess lessons and after sch(K)Is' dubs by CSC tutors and volunteers. the provision of chess sets. equipment and our curriculum lo all schools. librar and yOLth clubs which join our scheme. The organisalion of tournaments in I1 boroughs and the London Ch8ss Classic. The charity works princip811y In boroughs with a high prOpoOn of children ellgible for Pupil Premium 8nd boroughs wilh hbh level of deprivatlon as measured by the Index of Multtple Deprivation. b. Aclfvlties undertakon to achlava obj8¢tive$ The principal objectNes for the 202412025 academic year were managed growth in the core activity, to substantially expand the prison programme which had begun to gain momentum in 23124 after b8ing halted during Covid and securing a major oorporate sponsor for core activity as w811 as furth8r developlng our mass participation events. The charity also soughl lo expand in Ihe West MKllands. To support the expansion, training courses and tulor recruiiTnenl drives were held around th8 country and the charty engaged new trainers as well as vigorously prorTh)ting its CPD courses for scho01th8rS and TAS in supported schools. The schools, growth target was achieved and follov¢ing a meeting bekneen the Chief Executive and the prisons minister, the prison programme gained momentum with not onty more weekly clubs established. but also greater participation by prisons in online compgtit#)n. Th& number of number of schools with weekly ches5 aCtity grew lo 336, with Reglonal Organisers repcfftlng healthy rat8s of renewals and new schools joining the prcgrammo. To support the oxtra activty and further future expansion, new Regional Coordinators were appointed in Saword, Gloucestershire. West Wales, Newcasue. London and Cumbria. To assist in expansion in the West Mldlands, a member ofthe head Offi staff look over the role of Rggional Org8nise. The charity algo focused on incraased efft)rts lo racruil tutors trom universities and college5. particularty In London and Birmingham. Many schools that had chosen to deploy fund5 recelved from the Department for EducaOft to fund a Csc-led programme were retained into the 25126 academic year. There was a steady flow of requests from schools for chess equipment, our curriculum and leacher training. Interest from Ilbraries was particulady strong after the programme recovered slowly after cowd in the previous tsvo years. Thanks to the charitys strong financial FK)sitlon. fees charged to sthools remained broadly the same as in the previous three years or wer8 increased marginalty. The charty instrtuted a pay increase for tutors.
Chess in Schools and Communities Company Limited by Guaranteo Trust888' Annual Report (Incorporating the Dlrectorfs Report) (conllnu8dJ Year ended 31 August 2025 Thè chaty continued to support all state schools and libraries, 230 in all, wlv) requested help in the form of equipm8rt learning materials. consultancy, tgacher training or tutor and R8gional Organiser Vlsits. We also expanded wr links wilh local authorities and Academy Twsts by running bespoke tournaments around the county. The APPG on Chess was successfully reegtabllshed and began to lobby the government to rginstilute the support for chess that was initiated in 2023. All in all. a very good year. Training Nine trainlng courses w8re held across the county in London (31. Preston. LNerpool. Leeds. Bristol, Manchestgr and Bim)ingham. and Iwo online courses. A totsl of 124 delegates attended. The charity has engaged a third trainer for the 25126 academic y8ar. Th8 ftjlkday courses are slmullaneous designed for teachers and th85s players and cover present3n techniques. classroom managem&nt skills, and safeguarding material as well as our currl(JJlum. The CPD ccwrse. lasting Iwo hours, is offered to every participatlng school or supported sthool and B designed for teach8rs who wish lo run a chess dub. The chartty continued to encourage lutots to further their professional development by Papat1j In the more advanced course8 offered by the European Chess Union. Newham Th8 collaboratyjn wth Newham Borough Councll gog5 back to the early year5 of the charity. A subsidy from the council enables the chartty to allocato an RO sPeccallY lo Newham and lo glv8 schools in the borough extra lessons and toumament opportunbties. More schools joined the programme in 24125, and another successful end of year t(yJrnam8nt was staged at Stratford Town Hall in June 2025. The charity is grateful for the continuing support of N8wham Borou Council. The arrawemenl was renewed for 25126, despite funding pressures. Liverpool The charity continued to expar¥J on Merseyside. thanks in part to the successful eff¢Xts of the Chiaf Executive to secure significant sponsorshlp from local government and business. The *Jnds were deployed both to bring th8 2025 Brftish Chess ChampionSh)S to the uty and to create a month-long wraparound festival. beginning with Ch&ssFest LiverpL¥JI. Funds were a150 secured to add new sch(M)Is and libraries lo the chariVs nefvrk in Liverprx)l. The charity would like lo record its gratitLMle to LivertM)ol City Council for its continuing SUPFM)rt and to Ihe LNerpool BID Company for its support of the chess festival. Once again. the annual CSC M8rseyside toum8ment was staged Ni the splendKI surroUndw9 of th6 hlstoric St Georges Hall with over 300 children. Du8 to increasing demand, the charity supported the creation of a second after-school junior chess dub in South Liverpool to compl&ment the one in Norlh Liverpool Academy. The chartys first Centre of Exc811ence was inauguratsd al Whitefigld Primary School enabling CSC tutors to asS leachin9 skilLs frc#n staff while the school beneffts from extra CSC provision. The school surprised thgir Pgers when they won the schools, competition at the London Chess Classic ahead of 20 other schoo15, many wilh a far longer chess tradition. When news of thls achievement spread amongst the local community, LTverpool Football Club kindly agreed to give the children a stadium tour as a a reward for their exceptional achievement. U'verpool is now the second largest CSC project after London and the largest in any borough. sch¢1 toumarnenls The CSC Grand Prix continued to operato at full capacity. with 6v6ry lourroment a selkmjt and once
Chess in Schools and Communities Company Limited by Guarantee Trustees. Annual Report (Incorporating th• Directorfs Report) (conVnu•d) Year ended 31 August 2025 again, was planrbed to climax at the London Chess Classic. The charity expanded its pr(KJramme of school toumaments across all regirms. In addition to the toumaments run at Newham and Liverpool mentioned a)Ve, there were events hekl at the Guiklhall. run on behalf of Ihe City of London Corporation. al Kensington Town Hall and W8stminster Crty Hall. hosted by the Lord Mayor of the borough in his offices overlooking Buckirwjham Palace. Toumaments were staged for the Bellevue ace. GLF and Boleyn Educational Twsts. As well as being 8 great day out for the partlcipants. these toumaments help develop Confiden and s8lf-8Steem and introduc8 chiklren to their peers from other sch¢)ols with whom Ihey havo a common interest in chess. School leagues were e8tabli8had in Hackney, Leeds, Tower Hamlets, Liverp1 and Stepney. It was also pl8asing to note increasing succes5 for chiklren at CSC schools in mairbslream toumaments, such as EJCOA, ECF and Delancey UKCC. Weblnars In January 2025. CSC began a programme of fre8 webinars, coen to anyone. but aimed at children aged 7-13 who knew the basiGS of chess but Wanted to develop their tsctiC81 skills. Each webinar last8d on8 hour and was followed by an onknne toumament for participants. After a succ&ssful pilot series of 10 weeks. thè progrdmme was ext8ndgd into the summer term. Govering topics such as checkmates. captures, openings. and double attacks. Alongside the weblnar programme. our tutors recommended 50 of the most promising chess players from our school progrdmme for free places in a series of new onlin8 masterclasses. These tulorials were dellvered lo groups of &10 children outside school hours. usiny a newly designed curricijlum that extends the material we nomially teach in the classroom. Participants were encouraged to make use of the online accounts CSC provided lo further develop their chess skills. We inlend to expand thls program¢ in in the next academic year. Ukrainian Rafugoo$ The charity gr9atly increased hs sukwort for Ukrainian refvgees and Ukrainian children in the war zone, thanks to support from the Orp Foundation and tKlvate donors. The Chief Execullve visited Odes58 in May 2025. where he met ctwldren attending a tournament hebj und&rground a1 gave his support to the work done by Grandmaster and Ial CourlI10r Natalia Zhukova. This vlslt received conshjerable publiety through the Daity Telegraph's Ukraine podcasL whose trIbu11n9 joumalisls also came lo Ihe loumamenl. The charbty supported children from Odessa and Lvlv to attend a toumament in the Romanian city of lasi in the east of the CjnIry in June 2025. The Chief ExecLbtive attended arKI gave a pr&sentatn at a ithess in schcKJks conforonce and met Iccal politicians. More funds were deployed to support Ukrainian refugees in the UK to receive coad)ing and to fund t(yJmament expenses. This support enabled one of the countys most promising young players, Svyaloslav BazakutZ8. to qualify for the International Master lille and achieve a Grandmaster resulL Another Ukr8inian child was able to attend the Brtlish Chess Championshlps where he scored well in the Major Q)en toumam&nt. Several Ukrainian r8fvg8es have been through the charivs training programme and are working as ch8ss tutors and is anlicApat8d that one will shortly be appointgd as a Regional CorAdinator. mCe fanCIal 8UPPOrt to Ukrainian children to enable them lo compete al European representative events is planngj. This work will continua for as long as necessary. Onlin• Chess Clubs The charity t))ntlnues to distribute thousands of Chesslfjd membershSps each year to d)ildrèn in our sthools, programme. induding over 1.000 Gokj accounts, each worth $49. So far CSC has distribuled accounts to 63,058 children who had completed 764.179 puzzles and played 593,779 games. 742 of our pupils had T8achod the'KING' level. the high8sL The chjb for secondary schools on Lichess continued to expand and a t¢rnament was staged in conjunction with the English Chess Federation.
Chess in Schools and Communities Company Limited by Guarantee Trustees. Annual Report {Incorporatlng the Director's Report) (conllttu•dl Year ended 31 August 2025 Prisons The programme was given a major boost in January 2025 when the Chief Exe(yJtiv8 was able to meet Lord Timpson th8 Minister for Prisons. The programme expanded significantly and for the first time the numbèr of prisons rose above the pre-covid levd. This is largely thanks to Ihe support of volunteeT tutors and the work of our volunteer Prisons Coordinator Peter Sullivan. The appointrn8nt of a Prisons Coordinator for prisons outside of London will be made scM)n. Regular weekly clubs were run in 12 prisons and the programme of extra wsits fr(*n leadiThJ players and chess clubs continu8d al HMP Wandsworth. which in comrmn with HMP Isis, requesled and receN8d a $8cond dub each week. Work continued to begin clubs 8t four Young Offender Institutions and a dub began at one. HMP Feltham. Participation in official FIDE Worfd Prisons Champlonships held online continued. Four prisons rgpresenled England the first FIDE Contlnentsl Online Prlsons Chess Championships in July 2025. An EngLgnd Open team induded players from HMP Winthster, HMP HhpoInt and HMP WoMd &rubs, and a Youth team from HMPNOI Isls W( the gc4d m8d81 in their sectlon. Communty Actlvlty The charity continued to support alICatIOnS from community4)ased chess clubs, not onty of new ¢lubs in West Wales. Spltamlelds Market in the City of London and many i)ther places. The charity also ran weekly chess dubs for Ihe Mongolian commun Association and C8Stlehaven Community Centre in London, as well as providing chess equipment and materials to new libraries dubs In Stsffordshlre, and Teegstdg. the Afghan and Central Askn Centre In Staines and 8 nehvork of libr8les in Nottlngham.
Chess in Schools and Communities Company Limited by Guarantee Trustees. Annual Report (Incorporating the Di¢t0$ Reportl (tontthu•dJ Year ended 31 August 2025 Achlèvements and performanc• Maln achlevoments of tho charlty Sth ChessFest The fifth ChessF&st was siaged at Trafalgar Square on Juty 13th, 2025. supported by XTX Markets. The attendanc8 was again 8r(MJnd 23,000, making it by far the largest chess event in the UK. The family-friendly. free chess feslival included lessons. giant chess matches. sinNJtaneous displays, inlgmel chgss Chall8S and a living chess display. The activitses ware conducted by charity tutors, volunteers, members of the England thess team and the ProderS performance company. S*ellite events were held at the Liver0] One shopping Ctre in Chavasse Paik, in Hull. and. for the first time. at Portishead near Br101. Over 300 children from CSC schools were inwl8d to 2 days of activities outdoors in Manchester Square Gardens W1. Sctrvjols from outside London beneffted from travel grants. We were dellqhted to welcom8 the ChanL%llor of thg Exchequer. Rachgl Reeves MP to these events. The charity is grateful to XTX Markets for supporting ChessFesL Preparation for a 6th ChessFest at Trafabar Square are well advanced, an¢Y we intend to have more satellite events arc¥Jnd the county. A video and photryJraphs from al ChessFests can be ftyjnd at Che&s•Fest.com. 15th London Chess Classic Thanks to support from Markets. London Chess Classic was rested to its former glory and staged al the Emirates Stadium In November and December 2025. The dit8 event saw a popular home wn for the English Grandmaster Gawain Jones. StwJing the toumament at such an iwnSc venue as the home of Arsenal Football Club gave the event an enomious boost, particulady for its profile aThl we were able to invrte former world thampionship candmjale Shak Mamedyarov from Azerbaijan as well as Widit Gujaralhi of Sndia. also in the wodds top 20 at the time, and the women's odd champion Ju Wenjun of China. The 2025 LCC SchooL8' Festival welcomed 800 thildren from the CSC Schooks, prr8me around the counlry to the Emirates Stadium for a day of fun chgss activities. These included.. _ chess lessons from CSC tutors - simultaneous games against chess mastersa the chance to meet and possibty play a game against a chess grandmas, toumaments against their peers from across the Untry. This was th8 first time since Covid that a fvll schools programme at the LCC had been staged. The dosing dlnner. staged at the t)orchester Hotd, was aga a successfvl ftjnd raiser for the charity, as was the ProBiz Cup. There was a substants.al chess festival held alongside the main event with 8 strong Open t(MJrnarTbent and numerous events for omaleurs. as well as the final of the CSC Grand Prix. The intention for 2025 is to increase the se of the Ete field. Public Affalrs Efforts to engag8 th8 new govemmerrt were redwbled with thg revival of thg APPG on chess. We were able to recruit many new members: due the new large intske elected in July 2024. The charity was pleased that many of th8 41 schools who raceived ffney from UKGOV via the DE for cttess, remained in the charity prwamme by deploying thelr own funds. It is worth noting that a recent FOI
Chess in Schools and Communities Company Llmlted by Guarantse Trustees. Annual Report (Incorporating the Directorfs Report) (conthiued) Year ended 31 August 2025 requesl showed Ihat there were 76 schools who bgnefftted from DfE funds. so CSC worked with over half. Th8 initial pilot by the DfE was generally very well received by scknls. CSC was invited by the DFE in August 2025 to a roundtstrJe to discuss a forthcoming govemment paper on support for enrichment. We are hopef that support will b8 renewed for chess teaching in schools. The charity would like to reCd its gratitude for the continuing support for chess from the ChanGellor of the Exchequer and th8 members ofthg APPG. Wèbslte A complete revgmp of Ihe website thessirtsthools.(x).uk was succgssfumy comploted. ThB gnabled the charity to better showcase and publicise its activits, raise fvnds as well as providing a platform for ¢)ur first ever detaid impact r8POrt. The news archNe provKles a pomianent and ut(dat& record of the charws activities and aGhievements. Fundraislng xrx Markot5 XTX Markets employees and principals continued to support the charty trt)th individually and through the companls charitable am). This support will enabla us the charity to substsntially increase its aclivities. John Lyon's The charity continued to deliver an 9xpanded prcKJrammg in schcx)Is, libra8. and community centres in north and west London thanks to a grant from thg John Lyon's Charity. ORP Foundation The charty received a grant to support expansion of the core programme. specifKally in Somersel, Hdl and London and to expand its wotk wlh r8fugees. Funds were also deptyed to enable the charity to employ rafugees. wticularly from Ukraine, as tutors. Portal Tru8t The charity continued to deliver an expanded prtyJramme in schools. libraries, and community ntrO$ in GreenCh, Hackney, lslinglon, Lambelh, Lewisham. Ne%tham. Southwark, Towgr Hamlets, and Wandsworth. thanks to 8 grant from the Portal TrtL Support•r8 XTX Markets and employees John Lyon's CharÈty ORP Foundation Portal Trust Google Deepmind S¢heinberg Foundation Orbis Investments Esm8& Farbaim Goldman Sachs Newham Borough Councl
Chess in Schools and Communities Company Llmitod by Guaranteo Trusteos. Annual Report (Incorporatlng the Dlrectorfs Report) (conth Year ended 31 August 2025 Liverpool City CounrAI Liverpool BID Company Sherrils. and Recorderfs Fund The Wincit Foundath)n Peter Harrison Petsr Davles Good Thinking SoGiety Harpur Trust 10-
Chess in Schools and Communities Company Llmlted by Guarant09 Trustees. Annual Report (Incorporating the Dlrectorfs Report) (confinued) Year ended 31 August 2025 Finan¢lal revlew Going concom After making 8ppropriats enquiries the Trlee$ have a reasonable expectation that Ihe charty has adequate resour to corrtnue in operatK)nal existence for the foreseeable future. For this reason, they continue to adopt the going concem basts in preparing the financial statements. b. ReseNes policy Of the total reserves of £1,596,610, of which £415,081 12024: £1,331.6 and £273,M9) relate lo restricted projects as [CTibed by the donors. Actual unrestricted reserves * 31 August 2025 were £1.181,529 {2024= £1,057.5171. This amount is high&r than the Trustees. policy, but the excess has been sel asKle for the fuiure expansion of the charity and support of the chariiy's Ilagship events for which extemal suprth cannot abNays be guaranteed. The Wicy is under regular review by the Trustees and is part of the rewsed Strategic Plan whith was approved by the Trustee Board in February 2025. Since ther& is a ntUlng expectation for school receirrts to remain strong and trj cover ljjtorfees, th8 Trustees have decided that reserves can be fvrther reduced to support increased expenditure on new Regional Organisers and on any suitable projects to expand the charty should they arise. c. General roview Once agaln, th8 charity dld not need to deploy reserves to fvnd Core acbvity and enjoyed a Surplus in the year to 3110812025 as (Jonations and sch)d reipts remained robust. Prices to schools are expected to remain unchanged In 2025126 as the charity uses Its reserves to absorb Infiatlonary and budgetary pressure5. The core delivery lo schoL4s and the slaging of Ches$Fest and the London Chess cfassK remained the focus of charitable expenditure. Total expendilure for the year endod 31 August 2025 amounted 10 £1.739,558 (2024.. £1.474.6511- Total income includiro provish)n for Gift not received 8t yoar end was £1,993.363 {2024: £1,241,748). The charity hieved a surplus, after net gains on Investments amounting lo £265.52512024: defictl of £148.3631. Prior to tha gains on investments the charity achieved a Surp1 of £253,80512024: defi¢it of £232,903). At 31 August 2025 the Group had net assets of £1.$96.610 (2024: £1,331.0661. Inv8stmants pollcy The main objectives for the charity's inv8Stment pcytfolio are to weserve the charitys te8erves in real tens, deliver a reas¢)nable overall totsl return arKJ for the portfdio to be sufficlently Imiuid to fund cash ow shortfalls and any unfunded commitments that may arfse. The lolal return target for the investment portfolK) has been set at infiatlon plus 3.5% p.a. net of fees. A reasonable level of capital volatility wtlhin the invgstsnent porifolD is consKlered by the TnJ8tees to be acceptable gThien the ¢hariiVs risk and return objeclpies lyjt the portfolio should be w811 diversified across asset dasses and individual invesknents shoukl be in line with a standard rnedium risk woffi. The charty iyedudes any dlrect investrn8nt In tOaCCO cP8n1es. The Trustees a(xept that some colleclrve investment schemes may have exposure to tobacco stocks. However, the investment manager will M(1101 the position of these cdlective inveytment schemey to ensure thls Is kept lo a 11
Chess in Schools and Communities Company Limited by Guarantee Trustees. Annual Roport {Incorporating the Director's Report) (contintsedj Year ended 31 August 2025 minimum. In principle the Trustees wish to be responsible investors. Therefore, Ihe investment manager is expected lo lake account of environmental, social and governance IESGI issues in their investment analysis and decision-making process and engage with company management where appropriate. Principal risks and un¢grtalntle8 The Trustees frequently assess risks presented to il during board meetings and update a risk register accordingly. Plans for future perlods The main plans and obje¢lives for 25126.. Continued managed growih up lo 20Q Renewed efforts to expand prison activity with an ambitious target lo reach 20 prisons in 25126. Secure government support for a chess in school's programme. Further expand the lulor base and enhance options for professional development. Increase the number of gIOnal organisers and expand Into new areas. Organisalion of more chess leaching courses for online and in-class delivery. Organi5?lion of a 2025 London Chess Classic, subject to funding. Organisalion of a 2026 ChessFest and to spread ChessF8sI to other venues around the UK. Continue the focus on growth in areas where activity per capita is lowest. such as the Wesl Midlands. The conlinualion of a PLJblic affairs campaign. To develop Ihe ChessKid club and the online offering for secondary school children on LiGhess. Seek lo keep school contributions to a minimum. Enhance the welfare of our tutor and volunteer base. Devote more resource lo corporate fund raising. Details of the charity's work can be seen at.. ww.GhessinschDols.¢o.uk .chess-fest.com www.londonchessclassic.com www.facebook.Gomlchessinschoolsandcommuniliesl www.lnstagram.comlschoolsehessl x.comlsGhoolschess Our impact survey is available at.. h ww.ch ools. C5C-i -12-
Chess in Schools and Communities Company Llmlted by Guarantse Trustees. Annual Report (Incorporating Ihe Dlrectorfs Report) (conllnu Year ended 31 August 2025 Trustees. regponsibiliti•s sL*am•nt Thg trustees, who are also directiKs for ts pury)oses of company law. are responsible for weparing the trustees, report and the financial statsments in aCLdanCe wih appllcable law and Uniie(J Klngé¢m Aecounting Standards (Unlted Kingdom Generally Accepted Accounting Pr4¢ticel. CLKnpany taw requires the charity trustees to prepare financial statements for eech year which give a true and fair view of the state of affairs of the charitable ¢xJmpany and the incoming resources and applicati of resources, incIling the iJme and expendilure. for that Perd. In proparlng thes8 financial statements. the tnj9t are required to: select suitable accnting policigs and then apply them conslslenuy., obseN8 the metho(Is and Prir1pleS In the applirAble Charitses SORP,. make judgments and accounting estlmates that reasonable 8nd pent. pr&pare the financlal statements on the going concem basis unlgss it is approlate to presume that the charity will continue in busines8. The truslees are resp(sible for keepng adequate accountlng records that are sufflcient to show and explain the charivs Iransactiork8 and disclose wth rgasonable accuracy at any time the flnancial posltlon of the charity and enable them to ensure that the financial statements COTnply wrth the Companies Act 2006. They are also re$rSIble for safeguarding the assets of the thartty and hence for taking reasonabl8 8taps for thè weventK)n aThJ detectijn of fraud aThl other irregulafilies. Dlsclosure of Informatlon to audltors Each of the persons who are Trustees at the tlme when Ihls Trustees, rewrt Is approved has confirmed thaL" so far as that Trustee is aware, there Is no relevant aj11 infomi8tion of which the charitsble group's auditors are unaware. and that Trustees have taken all thè steps that ought to have been taken as Trustees In Lyder to b8 aware of any re18vant audit informallon and io establish that the charitsble group's audilors are aware of that information. Audltors The auditors. Flinlham maCkene Alt Ltd, have indicatsd Ihgir willirvJn8ss to continue in offic. The designated Trusts&s wll propose a molion reappointing th8 auditors at a meeting of the Trustees. Approved by or(ler of the members of the board of Trustees signed on their behalf by: lison Sharp Trustee Date.. Is
Chess in Schools and Communities Company Limited by Guarante8 Independent Auditor's Report to the Members of Chess in Schools and Communities Year ended 31 August 2025 Opinion We have audited the financial statements of Chess in Schools and Communitieg Ilhe 'Parent Charitable company'l and its subsidiary (together referred to us 'group'l for the year ended 31 August 2025 which comprise the consolidated statement of financial activities (including income and expenditure account), the consolidated statement of financial position, the charity statement of financial posrtion, the consolidated statement of cash flows and the related notes, including a summary of signifieanl aceounling policies. The financial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, Including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally A¢pIe Accounting Practice) and the requirements of the Charitable company's governing document and the provisions of the Statement of Recommended Practice {SORPI applicable to Charities preparing their accounts. In our opinion the financial ststements". give a true and fair view of the stale of the Group's and the parent charitable company's affairs as at 31 August 2025 and of the group's incoming reSoUrS and application of resources, including ils income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Acwunting Practice., have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applic8ble law. Our sponSibl1511eS under those standards are rther described in the auditorfs resporbsibilities for the audit of the financial slaternenls section of our report. We are independent of the group and parent in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Wè believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going Concern In audrting the finanaal statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collecb"vely. may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of al least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going con*rn are described in the relevant sections of this report. -14-
Chess in Schools and Communities Company Limited by Guarantee Independent Auditorfs Report to the Members of Chess Sn Schools and Communities (continued) Year ended 31 August 2025 Other Infomiatlon The other infomialion comprises the information includ&J in the annual report, other than the financial statements and our auditor's report thereon. The trustees are resFX)nsible for the other information. Our opinion on the financial statements does not cover the other information and. except lo the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibil is to read the other information and, in doing so, consider whether the other information is materially inconsislenl with the ffnancial statements or our thowledge obtained in the audit or otherwise appears to be materially misstated. If we identfy such material inconsistencies or appatenl material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other infomiation. If. based on the work we have perfomied, we condude that there is a material misstatement of this other inforrTration. we are required to report that fa¢L We have nothing to report in this regard. Opinions on other matter5 prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infomation gwen in the trustees, report for the financial year for which the financial stalemenls are prepared is consistent with the financi81 statements- and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon In the light of the knowledge 2nd understanding of the charitsble company and its environment obtained in the course of the audrt. we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companres Act 2006 requires us to report to you if, in our opinion.. the parent charitable cornpany has not kept adequate accounting records, or retUm5 adequate for our audrt have not been received from branches not visited by us", or the parent charitable company's financial statements are not in agreement with the accounting records and returns,. or rtain disclosures of trustees. remuneration specified by law are not made,. or we have not r1Ved all the infomation and explanations we require for our audrt., or the trustees were not entiued lo prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exempts.ons in preparing the directors, report and from the requirement to prepare a strategic report. 15-
Chess in Schools and Cornmunities Company Limited by Guarantee Ind8pendent Auditor's Report to the Members of Chess in Schools and Communities (¢onllnued) Year ended 31 August 2025 Responsibiliiie5 of trustges As explained more fully in the trustees, reswnsibilities statement, the trustees {who are also the directors of the charitable company for the purposes of company law} are reswnsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements, the trustees are reswnsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees Èither intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. -16-
Chess in Schools and Communities Company Limitsd by Guarantge Independent Auditor's Report to the Members of Chess in Schools and Communities fconttnuedj Year ended 31 August 2025 Auditors responsibilities for the audit of Ihe finan¢ial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due le fraud or error, and to issue an auditof s report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee thÈt an audit conducted in accordance w((h ISAS IUKI will ahvays detect a material misstatement when Tt exists. Misstalemenls can arise from fraud or error 2nd are eonsidered material if, individually or in the aggregate, they could reasonably be expècted to influence the economic decisions of users taken on the basis of these financial statements. Irregularitie5, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our prOdureS are capable of detecting irregularities, including fraud is detailed below.. Capabillty of the audit in detecting irregularitles, Includlng fraud Based on our understanding of the charity and the sector as a whole, and through discussion wth the Trustees and other management las required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to safeguarding, health and safety, general data protection regulations and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have 8 direct impact on the preparation of the financial statements such as the Charities SORP {FRS 1021, the Companies Act 20C6. taxation and pension legislation. We communicated identified laws and regulations throughout our team and remained aleti lo any indutions of non<0mplian throughout the audit We evaluated management's inntiveS and opportunities for fraudulent manipulation of the financial slalemenls lincluding the risk of override of controls), and determined that the principal risks were related lo posting inappropriate journal entries and management bias in accounting estsmales and judgemental areas of the financial statements. Audit procedures perfomed by the engagement team included.. Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulab'ons (including health and safety) and fraud,. and Assessment of idenlrfied fraud risk factors,. arKI Review of expenditure lo confirm no evidence of personal benefit,. and Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud, and Challenging assumptions and judgements made by managent in ts significant accounting estimates., and Performing analytical procedures to identify any unusual or unexpected relationships, including related paty transactions, that may indicate risks of material misstatement due to fraud., and Confimation of related PaeS with management, and review of transactions throughout the period to idents'fy any previousty undisclosed Iransacts'ons wth related parb'es outside the nomial course of business,. and Reading minutes of meetings of those charged with g0veman. and 17
Chess in Schools and Communities Company Limited by Guarantee Independent Auditor's Report to the Members of Chess in Schools and Communities {contlnuedJ Year ended 31 August 2025 Review of significant and unusual transactions and evaluation of the underlying financial rationale supwrb'ng transactions., and Identifying and testing journal entries, in particular any manual entries made at the yearend for financial statement preparation. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial slalements or non-complian with regulation. This risk increases the more that Complian with a law or regulation is removed from the events and tran5?Glions reflected in the financial statements, as we will be less likely to become aware of inslance5 Qf non-complian. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation As part of an audit in accordance with ISAS {UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misslatemenl of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtsin audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not delecling a material misstatement resulting from fraud is higher than for one resulting from erior. as fraud may involve collusion, forgery, intentional omissions, misrepresenlation5, or the override of internal control. Obtain an understanding of intemal control relevant to the audit in order to degn audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of aeeounting policies used and the reasonableness of accounting estimates and related diselosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concem basis of accounting and, based on the audit eviden obtained, whether a material uncertainty exists related to events or condib'ons that may cast significant doubt on the group and the charilable Company's ability lo continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the reL4ted disclosures in the financial statements or, if such disclosures are inadequate, to modfy our opinion. Our eonclusions are based on the audit eviden obtained up to the dale of our auditor's report. However. future events or condits'ons may cause the charity to cease lo continue as 8 going concern. Evaluate the overall presentation, stNcture and content of the financial statements, including the disclosures. and whether the financial slalements represent the undertying transactions and events in a manner that achieves fair presentation. 18-
Chess in Schools and Communities Company Limited by Guarantse Indepèndent Auditor's Report to the Members of Chess in Schools and Communities (conLlnuod) Year ended 31 August 2025 We communicate with those charged with govemance regarding. among other matters. the planned scope and liming of the audit and Significant audit findings, incSuding any significant defi¢ien¢ies in internal control that we identify during our audit. Use of our report This report is made solely to the Charitable cornpany's members and trustees, as a body, in accordance w((h Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company's trustees, as a body. Part 4 of the Charities (Accounts and Reports) Règulation 2008. OUT audit work has been undertaken 50 that we might stale lo the charitab company's members and trustees those matters we are required to stale lo them in an auditor's reFX)rt and foi no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable company and its members and trustees as a body, for our audit work, for this report. or for the opinions have forrned. Brij Taneja (Senio Statutory Auditor) For and on behalf of Flinlham Mackenzie Audit Limited Chartered accountants & statutory auditor 277-279, Chiswick High Road London W4 4PU Ji May 2026 -19-
Chess in Schools and Communities Company Limited by Guarantee Consolidated Statement of Financial Activities (including income and expenditure account) Year ended 31 August 2025 2025 Restricted funds Total funds Total funds 2024 Unrestricted funds Note Income and endowments Donations and legacies Charrtable activities other trading acts'vities other income 510,258 624.732 17,417 24,560 787.000 1,297,258 624,732 17,417 41.771 594,439 623,211 1.800 22,298 17,211 804.211 Total Ineome 1,176,967 1.981.178 1,241,748 Expendlture Expenditure on raising funds.. Costs of raising donations and legacies Investment management costs Expenditure on charitable Ècb'vilies Taxation 2,204 7,059 1,066,966 650 2,204 7,059 1.729,645 650 368 6,570 1,467,713 662,679 11 Total expenditure 1,076,879 662.679 1,739,558 1,474,651 Nel gains on investments 12 23,905 23,905 84,540 Net Incomellexpenditurel and net movement in funds 123,993 141.532 265,525 1148.363} Reconclliation of funds Total funds brought forward Total funds carried forward 1,057.536 273.549 1,331,085 1,596,610 1,479.429 1,331,066 1,181,529 415.081 The consolidated slatemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from cx)nlinuing acbvrties. The notes on pages 24 to 35 fomi part of these flnanclal statsments. -20-
Chess in Schools and Communities Company Llmlted by Guarantse Consolldated Statemont of Financial Position 31 August 2025 2025 2024 Flxed as¥•ts Investments 16 948.753 922,098 Currnnt as80ts Oeblors Cash at bank and In ha5 17 769,678 763.404 64.570 469,459 534.029 1,$33.082 Credltars: amounts falling du• wlthln on• y•ar Nal ¢urv•nt 0888ts 18 847.725 87.561 446,468 685,357 1.634.110 Totsl a$••l• I8 ¢urr•nt I111$ 1,368.566 Credltor8: amounts falllng du• after mor• th•n on• y•ar Neta 19 37,500 1,596.610 37.500 1.331,066 Fund• of th• ¢h•rlty Restricted ftmds Unrestrlcted fvrKI$ 415.081 1,181,529 1,596,610 273,549 1.057.517 Totsl charlty funds 1,331.066 These consdldalsd finaThial statements havo been prepared In ac¢ordancfr with the prov1s1ts applicabb to companies subject to th& small CoMnIes. regim¢. These ¢onsolidated financlal stts V•we apwoved by tho bo¥d of trustees and authorised for issue on 31 May 2026. aro 5iwed on beh8W ofthe t)ard by: In Sharp Trusts¢ Th• not# on pag•B 2410 36 part ofth•sè Iln•nci•l stat•m•nt*. .21-
Chess in Schools and Communitles Company Llmltsd by Guarantee Standalone Statsment of Financlal Poslllon 31 August 2025 Charlty Bal•n 8he8t 2025 2024 Flxed asgots Inve¥trnents 948,754 922,099 Curront ass•ts Debtors Cash at bank ar in haThl 847,638 671,652 1.519290 142,510 387.544 530.054 Crndllors: amounts f•lllng duo wllhln one yow Not currant 4$80ts 836.672 82.S61 682,618 1,631.372 447,493 1,369.592 Total xlets I•s6 ¢urrnnt Ilabllltle8 Crndltors: amounts f•lllng du• aft•r mor• than ong year Not a550ts 37,500 1,593,872 37.500 1.332,092 Fund8 of Ihfr ¢harfty Restrkted ftmds Unreslrictsd fund$ 415,081 1,178,791 1,593,872 273,549 1.058,543 1.332.092 Total charlty funds Th989 financial atements have been propargj in acccYilan¢e with provisions appli¢•ble to ¢ompanies subject io the $m811 Goryyanios, reglme. These financial stalements were approved by the board of trustses and authl$¢d for issue on 21 May 2026, and aro $id on behalf ofthe boord by: AJi50n Sharp Trustee Th• not•• on paps 24tt 36 fonn pwt ofthM•llnan¢illl gtat•m•nt•. .22-
Chess in Schools and Communities Company Limitad by Guarantee Consolldated Statement of Cash Flows Year ended 31 August 2025 2025 2024 Cash Ilows from oporating actlvltles Net in¢om8llexpendilurel 265,525 (148.3631 Adjustments for Net gains on investments Interest payab and similar charges Taxation Acoued lincLKneyexpenses (23,5) 2,026 184,5401 2.451 (9.356> 7,604 Changes in.. Trade and other debtors Trade and other creditors 1705.1081 768,889 113,150 45.684 Cash generated from operations 298.721 (64,0141 Interest pald Net cash fromllused in} cperating actNities {2,026) 296.695 12,4511 (66.465) Cash flows from investlng aGtivltles Purchases of other inveslments Proceeds from sale of other investrnerrts {80,862) 1192,8231 78,112 169.200 (2.750) N8t cash used in investtng acttvilies 123,6231 Net incr•a$el(decrease) in cash anfl cash oquivalgnts Cash and cash gquivalonts at beginning of yar Cash and cash equivalants at end of year 293.945 469.459 190.088) 559.547 763,404 469.459 Th• not•s on 24 to 36 fomi pArt of Ilse Ilnan¢i•l 8tatem•n .23-
Chess in Schools and Communities Company Limited by Guarantse Notes to the Consolldated Flnancial Slal•ments Year ended 31 August 2025 Genernl infonnation The charrty is a public tnefft entity and a privato company limited by sM5arartee. registered in England and Wales and a registergd tharity in EnglaTrJ and Waleg. Th9 address of the registered office 15 44 Baker Street, London. W1 U 7RT. Statsmont of compllanog These financlal ststements have been prepared in Comlance with FRS 102, The Financlal Rgporting Standard appltcable in the UK aThl the Republic of Irelanrt. the Statement of Recommended Practice applicable to charities preparing their aco)unts in aceordancg with the Financial Reporting Slandard applicable in the UK and Republic of IrelaThY (FRS 102) (Charities SORP {FRS 102)) and the Companles Act 2006. Accountlng pollcles Basis of preparallon Thg financial statements havo bgen prepared on the historical cost basis, as mcJlfied by the revaatiOn of certain flnan(xal assets and lialHOeS aThJ nvestment ertieS measwed at fair value through income or expenditure. The financial Statents are prepared in steding, which is the functhjnal currency of the entty. Golng concem The Trustees assess whether tha use of going concern Ls apprDpri 1.8. whether there i8 any material uncertanties related to events or condiknons Ihat may Gasl signAlcanl doubt on the 8bility of the Charity to contknue as a gciThJ corthm. The Trustees make this assessment in respect of P8riod of one year fr( the date of authorisation for issue of the financial statements and have conduded that the Charity has adequate resources to continue in operatn81 exisl8nc8 for the foreseeab18 future and there are material uncertaintles about the Charivg ability to continue as a going concem. thus they C{118 to adopt the going cown basis of accounting in preparing the financial statement. Incomo tsx The charity is o)nsidered lo pass the tests set out in Pardgraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definilion of a charitable company for UK corporatn tsx purposes. A(xordingly, the charity Is ntialty exempt from taxation in resped of income or capilal gains received within categories covered by Chapter 3 Part 11 of th8 Corporation Tax Act 2010 cf Seclion 256 of th8 Taxation of chargea Gains Act 1932. to the ext8nt that such income or gains are appl gxcJsivety to charhable purposes.
Chess in Schools and Communities Company Limited by Guarantee Notes to the Consolldated Flnanclal Ststements (conttftu Year ended 31 August 2025 Accounting polici•s Fund accountlng Unrestricted funds which are availabl8 for use at the discretion of the Trusts8s in furtherance of the general objectives of the Group and whlch have not been designated for other purposes. DesvJnated ndS COmPTise unrestrictsd funds Ihat have been set asld8 by the Trustees for particuLqr purposes. The aim and use of each designated fuNJ is set ijut in the noles to the nancial statements. Restricted fuThJs are fund5 whith arg to t¢ used in accordance yth Specif restrictions ImFsed by donor5 or which have been raised by the Group for particular purposes. The costs of raising and administering such furmls are charged againsl the specific fvnd. Th8 aim and us& of each restricted fund Ss set out in the notes to the financial statements. Invesknent income. gains and losses are allocatad to the appropriate fund. Incomlng resources All income is recognised once the chartiy has entit18ment to the income. It is probable that the income will be received and the amount of income receivable can be measured reliabty. Donations are recead by way of grants. donatk>ns, legacies arKI glfts and is induded in full In the consolldated statw(wit of financ1 activibes when receivable. Income from chaiitable aGlrvities includes income received by way of contn"buknons made by sthools. prisons and other 8Stabllshments. from course fees and tournament tickets and Is recoJnised as the events taka place. -25-
Chess in Schools and Communities Company Limited by Guarantse Notes to the Consolidated Flnancial Statements (conrfn Year ended 31 August 2025 Accounting policle$ (¢oAthu•dJ Resources gxpgnded Expenditure is recogrllsed once there is a legal or construclive obligation to transfer economic beneffit to a third p8ty. it 15 probable that a transfer of economic benefits will be required in seiuemenl and amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each acbvity are m8d8 up of the totsl of dlrect costs and shared costs. I[uding support costs involved in undertaking each acfivity. Direct costs attributable to a single activty are allo&ed direw to that liVIty. Support costs which are not altrbutsble lo a single actfvity are appctioned behyeen thos8 activities on a basis consistent with th8 use of rèsources. Central staff costs &e allocated on the basis oftime sponL charitab expendlture comwises those costs Incur by the th8rlty Sn the dellvery of Its activities and services. Governance costs indude those costs associat8d with meeling the cAJnstitution81 and ststutory requirements of the tharrty and inthde tho audit fee and costs linked to the strategic management of th9 charity. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its haritable purpos69 and Indudes costs of all fundraising adviues events and non-charitable trading. Expenditure on charitable actiwles Is Incurred on direcuy dertathg Ihe actwiiles thich furfher the Group's objectives. as well as any associated suptth costs. Investments Fixed asset investments are a fc*m of financial instrument an(1 are inib8lly recognised at thelr transacti (x)st 8fKI subsequenlly measured at fair value al the balance sheet date, unless the value cannot be measured reliabty in which case it is measured at (L)st less impairmenL Irwestment gairts and h)sses. whether re81ised or unrealised, are comiNned and presentwj as 'GainsllLosses) on investments. in the (Dn501idated statement of financial activittes. Investments in sUbdianeS are valued at COSt1gss provision for impainnenl. Financial instruments The Group On has financial assets and financh11 Irabiliti8s of a kind Ihat qualrfy as basic thala1 instruments. Basic financial instrum8nts are Initial recognis8d at transacbon value and subsequently measured at their sett18mont value with Ihe 8xceptKsn of bank loans whKh are subsequenty measurgd al amortised cost using the effective interest method Dgflnod contrlbutlon plans ContribUti(S lo defined contribution plans are rec(wJnised as an expense in the period in which the relat Servi is provided. PrepaMI contribulions are re¢jnISl as an asset to the extont that th& wepaymgnt wlll18ad to a UctI in fijture paymnts or a cash refvnd. When conlribuuons are not expected to bg settted wholly withln 12 months of the end of the reportlng date In which the emrAoyees render the related seNke, the liabillty is measured on a discounted present value baslg. The unwinding of the discount is recognised as an expense In the period in whith arlses.
Chess in Schools and Communities Company Llmlted by Guarantse Notes to the Consolidated Flnancial Statements Year ended 31 August 2025 Llmlted by guarantee The COTnpany has no aLthorised or issued shar8 capilal and is limiied by guarantee of the trustees. Donations andlggacles Unrestricted Funds Restricted Total Funds Funds 2025 Donatlons Individua15 arml corporate donations Grft AKJ Trusts Grants for schools 228,520 48.639 233,099 784.fxK) 1,012.520 48,639 236,099 510.258 787,000 1,297,258 Unrestricted Funds Rethcte(l Total Funds Funds 2024 t)onatl¢ns Individuals and corpcKate donatiL Grft Trusts Grants for schcM)Is 150.626 19,851 110.500 26,662 283,800 434.426 19,851 113.500 26,662 3,000 307,639 286,800 594,439 Charltabh actlvltleB Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Schwl contribution$ Prison conlribul¥)ns Tournament InMe 582.203 42.529 582.203 42.529 546,828 71.436 4,947 546.828 71.436 4.947 624,732 624.732 623.211 623,211 Investment management costs UnrestrKted Total Fund8 Unrestrict&J Totsl Funds Fun(Js 2025 Funds 2024 Pc*tfolio managemènt 7,059 7.059 6.570 6.570
Chess in Schools and Communities Company Limited by Guarantee Notes to the Consolidated Financial Statements (¢onts"ny¢d) Year ended 31 August 2025 Expondiluro on charitable actlvlti•s by fund type Unrestricted Funds Re8trict8d Total Funds Funds 2025 Fund r8ising Tournament costs Chess tutoring Training SupFL)rt costs 875 70,271 626,726 20.317 875 478,307 881,3 20,317 349,143 408,036 254,271 1.066,966 662,679 1,729,645 Unrestricted Funds Restricted Total Funds FuThJs 2024 Fund raising TcAJm8ment costs Ches5 tutorirwJ Training Support costs 1,754 129.419 656,457 20.060 282.315 1.754 296,629 866,923 20,060 282,347 1.467.713 167,210 210.466 31 1.090.005 377,707 exp8ndIre on charltable activllleB by activty typ8 Activities undertaken diredy Supp(wt costs Totsl funds 2025 Total fund 2024 Fund ralslng Tournament Ch8SS tutorl Training Govemance costs 875 478.307 881.003 20,317 29.558 88,671 174.056 36.125 20,733 349,143 30,433 566.978 1.055,059 56.442 20,733 33.659 355,136 1.010.495 51,965 16.458 1,380,923 1,729,645 1,467.713
Chess in Schools and Communitles Company Limited by Guarantge Notes to the Consolldated Financial Statements (conlirtued) Year ended 31 August 2025 10. Analysis of support costs Toumamént FundraisirwJ lulorfng TraknlrKJ Totsl 202S Tolal 2024 staff costs Prembses Communications and IT General office Human resources Finance costs Govemance )Sts 23.925 2.232 71.776 140,893 13,144 29,242 2.728 265.836 24.800 206,258 25,420 1.051 1.616 549 183 1,866 3.155 4,850 1,647 547 5,598 6,193 9.520 3,234 1,074 10.988 1,285 1.976 671 223 2,281 38.4( 11.684 17,962 6.101 2,027 20.733 5,399 24.589 1,755 2,468 16,458 31.422 94,269 185,046 349.143 282.347 11. Taxatlon Components of tax 8xp•nso 2025 2(r24 Current lax: UK current tax expense of Subsidiary {CPL> Taxation 650 12. Net gains on investrnents Unrestrlcted Totsl Funds Unrestricted Total Funds Funds 2025 Funds 2024 Gairl{loSSeSI on listed investrnpnts 11,720 11.720 84,540 13. Auditors remuneratlon 2025 2024 Fees p8yabb8 for the 8j11 of the finarKial slatsTnents 14,000 13,500 The abov8 audit f6e includes non-audit fae of £3,000 for 8ccountsng and taxation servK61& .29-
Chess in Schools and Communities Company Limlted by Guarantee Notes to the Consolidated Financlal Slatements (ronthu) Year ended 31 August 2025 14. Staff Costs The total staff costs and employég nerts forth8 repng period are analysed as follows: 2025 2024 Wages and salaries Social se(yJrity costs Employer contributions to pension plans 245,918 17,900 2.019 184,159 19.956 2,144 206.259 265.837 The average head count of employees duflng the year was 512024: 41. The average number of full-time equivalent employees durlng th8 year is analysed as follows: 2025 2024 No. Number of staff The numb8r of emrAoyees wh)se remuneration for th& yearfell wlthln the folk)wing bands, were.. 2025 2024 No. No. £60,000 to £69,999 15. Trnstee remuneradon and exponsos During the year rn Iru5tees r8ceived any remuneration or 0th9r benefils {2024 - £nill. During the year ended 31st August 2025 No experses were rewnburSl or paid to ary trustee (2024 - nil). 16. Inv•stments Llsteql Investmants Cost or valuatlon At 1 September 2024 Addrtions Disposals Fair value rnovements 922.098 80.862 177,618) 23,411 At 31 August 2025 Impaimient At 1 Sept•mber 2024 and 31 August 2025 Carrylng amount At 31 August 2025 At 31 August 2024 18,753 948,753 922,098
Chess in Schools and Communities Company Limited by Guarantee Noles to the Consolidat•d Financial Ststements (conthu8d) Year ended 31 August 2025 17. Dobtors 2025 2024 Trade debtors Other debtors 703,334 27,825 36,745 769,678 64,570 18. Croditors: amounts falling du9 wlthin one year 2025 2024 Trade creditors Accruals and deferred IrKomg Corporation tax Social security and other tsxes other creditors- CPL Other tteditors 23.130 708.337 24,021 42,711 110.207 5,000 401 5.188 5,000 10,641 847,725 87.561 19. Credllor8: amounts talllng due after morè than one year 2025 2024 Accruals and deferred income 37,500 37,5 20. Dgforrod Incom• 2025 2024 Amount deferred in year 675,001 At the repcwting date. deferred inccme ct)mprises grants end donations received in advance for speafic projects or activit where funds were expended In next financial pariod. These funds 11 be reCniSed as income in the next finanual per. -31-
Chess in Schools and Communlties Company Limited by Guarantee Notes to the Consolldated Financial Statements (conttftuodj Year ended 31 August 2025 21. Pensions and oth•r pOstetIrement n•fits Defined contrlbull¢)n plans The amount recognised in income or expendilure as an expense in relation to defined contributlon plans £2,019 {2024: £2,144). 22. Analysls of charitabl2 funds Unrnstrlcted funds At Gains and 31 August 20 losses 25 1 September 2024 Income Expenditure General funds 1.057.536 1,189,152 (1.076.879> 11.720 1,181,529 At 1 September 2023 At Gains and 31 Au$l 20 Ioss8S 24 Income Expendiiure General fvnds 1.115.280 954.640 11.096,9431 84.540 1,057,517 Restrict8d ndS At 1 September 2024 Gains and 31 August 20 Ioss8S 25 Income Exp8nditure LoThJon Chess Classic Africa Fund Edesloke Prison ChessF8st Wandsworth Berkshire Junior Fundlng 1 Seb8Stlan 8ainbTidge Memorial Ukraine Junior Funding 2 Tournament chess and Junior training 190,156 30.251 2.116 28,239 1,108 10.214 200 492,210 {3¥2,788) 289,578 30.251 2,116 7.071 225.001 4,()0 3,000 1246,1691 15.1081 I3,0) 10,214 2(M) 876 10,389 60,000 (9.5021 11.6371 51.374 8.752 20.000 14,475} (662.679) 15.525 273,549 804.211 415,081 -32-
Chess in Schools and Communities Company Limited by Guarantee Notes to the Consolidated Financlal Statements (coMinu•¥ Year ended 31 August 2025 22. Analysis of charltablo funds At 1 September 2023 Gains and 31 August 20 losses 24 Income Expenditure London Chess Classic Africa Fund Erl8Stok8 Pri80n ChessFest Wandsworth B8rkshire Junior Funding 1 Sebastian Bainbridge Memorial Ukraine Junior Funding 2 Toumament Cl$$ and Junior trainirKJ 313,212 30.251 2,116 7214 1,108 3.625 200 30,0 (153,056) 1),156 30,251 2.116 35,453 1,108 3.000 200 225.307 3.800 3.LK)O (197.0681 13.8LXJI 13,6251 6,058 365 16.058) (9,4891 14.6111 10.000 15.000 876 10.389 364,149 287,107 (377,707) 273,549 -33-
Chess in Schools and Communities Company Limited by Guarantso Notes to the Consolldated Financlal Statsments (conthl Year ended 31 August 2025 22. Anaty8is of charltable funds London Ch85s class is exdusivety for running th8 educatlonal elemBnts of the LoNJon Chess Classic toumamenL The Africa fijnd Is to be used exthsivoly on our acts in Africa. Erlgstoke Prison funds are for the wovision of a choss dub at HMP Erf8stoke. ChassFest donations are used exdusivoly lowards Ihe wnnirvJ of thls yearfs annual chess fest t¢XlTnament. Wandsworth fuTrJ relates to a 4Jonation received to irnprovo the chess traning offerfng in thg Berkshire fuNJ relates to a donati received to improve the cho8s tralning offering in the area. Junior Furmling 1 related to a donatKJn received to supp)rt tha devekpment of a strowj junior chess player. Sebastian Bainbridge Merrthial FuThJ relates to a donation received to ¢roate a memorial for S8bastian Bainbridge. The Ukraine fuThJ relates to funds received to be donated to Ukraknian appaal of the Chartys choice. Junior FundirrfJ 2 ralated to a donation received io support tho dèvelopment of a strong junior chess ayer. The Junior Tournaments and Trainlng fund provides support to strong jUnr chess player5 across the county, enabling them to compets In inl8m8tional events. UnrgslTicted Funds RestrÉcted Totsl Funds Funds 2025 Investrnents Current assets Creditors less than 1 year Creditors greater than 1 year Not assets 948,753 948.753 555.635 977,447 1,533,082 1302,725) (545,000) 1847.7251 {37.500) 137,500) 1.164,163 1,596,610 432.447 Unrestricted Funds Restrkted Total F)d9 Funds 2024 Investments Currant ass8ts Cr8ditors1gss than 1 year Creditors greater than 1 year 922,1)98 260.480 187,561) (37,500) 1,057,517 922,098 534.029 187,561) 137,500) 1.331,066 273.549 273,549
Chess in Schools and Comrnunities Company Limited by Guarantso Notes to the Consolidated Financial Statements (nol Year ended 31 August 2025 Anatysis of chang In net debt At At 1 Sep 2024 Cash Ilows 31 Aug 2025 Cash at bank and in harKI 469,459 293,945 763.404 25. Rèlated partles MaltA)Im Pein. lh& Chlef Execulive ot Chess in So*ools and CommunIt {th6 "Charfty.) and Secretary of Its subsidiary Chess Promotions Limited ('CPL'). Is a Director of Chess & Bdt1ge Limited I"C&B'). During 2010, C&B signed a Suppty Agre8mont with the Charity and CPL (together referred lo as the"Customeff}. to pmide the Customer th certrdin goods and services on standard trade terms. This Irude5 thess books, chess sets and boards, chess computer sofvare. other chess rdated product8 and general admini51ralion support services. The registered office of the Charity is also rent1 from C&B on a quartety rent8 of £6.200. The tot81 paid to C&B by the Charity duriThJ the year was £56.597 (2024: £78.6341. At year end £NII remained payable12024'. £Nill. Malcolm Pein is also a Director of Classical Games fcG") a company incorporated in the United ststes of America. The total paid to CG by the Chartty during the year w&% £Nil 12024.. £Nill. At th8 year end £Nil remained payable by thg Charty (2024.. £Nil). Malcolm Pein is a Director of English Chess Federation and they reimbursed the Charity £Nil 12024.. £Nill in relation to expenses Inrred on behalf of Ihe Federation. At year 8nd there was no outstanding balance12024= £Nill. Malcolm Pein's SLm welved £3.477 dUrir the year12024: £3.636) for his work as a Ch9S5 tutor at the Charity. The rate used wa8 in accordance with rates used for all peokle that work for the Charity. At the year end £Nil was outstandlng {2024: £Nil). There were transactions bets¥een Chess in Schools and Communriies aftd Chess Promotions Limited. As at 31 August 2025 CPL owed Charity £77.96012024: £77.960}.
Chess in Schools and Communities Company Limited by Guarantee Notes to the Consolidated Financial Statements Year ended 31 August 2025 26. Controlling party There Is no umimate controll1g party. 27. Principal Subsldiariey Tha folowng was a subsKliary un¢Jertaking of the Charlty:. Name Company number Registsred office or principal Face of busingss Orincipal activity Clas8 of share5 holding Chess Promrtions Ltd 07152226 44 Bak8r Stree( London W1U 7RT lo exploit tha commercial value of various chess events Ordinary 100% (tndtyJ$d in consolklation) The financlal Ults ofthe subsiJlary for the year were.. - Income Exwnditure Profil (deficit for the year Tax Profit after lax Net a88ets Il*bilities) £17.417 £13,004 £4,413 £ 650 £ 3.763 £ 2.738