NOTTINGHAMSHIRE CHESS F(MJNDAnoN ANNUAL REPORT AND ACCOUNT5 FOR THE YEAR ENDED 30 JUNE 2024 General Infonnatloft TrustÈes Annual Report Statement of finandal acti¥llfies ealance sheet Notes to the accowits Independeni examlnerfs report io p8.1
r4oThNGHAMSHIRE CHESS FOUNDATION ANNUAL REPORT AND AccoufiT5 FOR THE YEAR ENDED 30 JUNE 2024 GENERAL INFORMATIOW Name.. Nottlnghamshlre Chess FouThlation lalso known as NCFI Charfty Number. 1194887 Ilncorpjrated on 22 JU 20211 Re8lstered Addre5S.' eOn Close. Lowdham, Nott1haM, NG14 7WF Truslees: 2210612033 1710712024 1710712024 2210612022 0810712024 0810712024 0110912021 2110612026 1710712027 1710712027 2110612025 0610712027 0610712027 3110812024 Mf. Edward Graham Mr. Re-appolnted Itre35urerl Re-appjlnted Ichairper50nl Mr. Mr. Marcel Chrisiopher Dayld Mr. Budd Renomlnated by NCA Renorninaied by NCA Re548ned from trusteeshlp (vacancy- NCA nomlneel IvacanLyl Mr. Gfflihs Nell Graham Note on Trustees.. Mr Graham Nell Indlcaied hls prelerence to wbthlraw from hls role as trustee both io NCF Irustees and to hls appolntln8 body. NottSn8hamshlre Ches5 As50datlM. Trustees have offered th•'r tharkks for hts contTllyJtion v4eT the past three years. Trusiees and the NCA wlll endeaTrfourto ftll the vacan¢les dur1 the next flnandal year. Bankers: C(Hwatlve eank plL PO Box 250. fielf House. Southway, Skelmersdale, WN8 6wr Inve5tfflent N4ents'. CCL4 Investment Management Ltd One Wel lane. Lond(, EC4R 3A8 Independent Examlner.. Atmlrew Kay Ci stell1 House, S Wheatcroft &Jslness Park, Edwalton. Nottln8ham, NG12 4DG.
NOTllNGHAMSHIRE CHESS FOUNDATION ANNUAL REPORT AND Accourir5 FOR ThE YEAR ENDED 30 JUNE 2024 TRUSTEES ANNUAL REPORT The InteeS present their report for the year ended 30June 2024. It IS the chariVs thlrd ann1 (. I. OBJEvE5 AND AIMS OF THE FOUNDAnoN a. The objects stated In the constitutlon are.. "lil the advancement of amateur by yomotlng the siudy and prartice of chess in all Its foms. prlncipally, not extlusively. for the benefit of the residents of. and for all people who have Ilved. worked. Sludled. or played lea8ue chess In County of Nottlr4h•mshire and surroundlng areas.. and 121 the advancement ofeducaikn) ty proMlIV the development of peOe thro the teach1 and practlce of chess. Each objert wlll be achleved lry prthislon of finan¢lal support to d5 prokcts Inltlated by not-for-profft organlsatknns. groups and lfidibiduas." b. The prlmary fLMKtlon and buslness olthe Noult¥hamshlre Chess Fourdatlon INCFI Is io admlnlster the chariivs fvnds. wthlth mostty c¢xnprlse of a slbwle lar8e lelacy and some smallerdonatlons. The trustees are responslble for: en$Urt assets lo Invested to prvAde res)urces for maklft8 8raDts for the purposes stated In the oblects, and 11. to ensure the ¢harltV5 resources are malntalned In pety. c. The methods ty whth trustees alm to athlL*e these lunctlons are stated In.. The Chess Strate8V The Flnanclal StrateKv both of whlch are referee In the constltutbon and tjoth ol whlch are re¥lewed and updated every year. d. The cdterla by declslons are made by tntee5 on supportln8 requests for lunds are speclfled In the Grant-Makir6 pollcy, which Is made available to poieniial applicants. 2. STRucfuRI GOVERNANCE AND MANAGEME14T a. The charlty Is a Charttable IrKtypordted Ck8anlsatknn fit 1$tered on 22 June 2021. It 1$ 8o¥emed by constitution approved by the Chaflties Commlsslon at forniat1. The tharlty Is managed by the tharfty trustees who are the onty votiw members of the tharlty. b. The constltution allows for a maximum of 9 trnstees. up 10 3 ofwhom are nomlnated fora three-year period by Nottinghamshire Chess A550(iation INCA). These are currentty.. Mr. C Budd Mr. D Grlffiths Mr. G. Neil's tenn as a trustee ended on 31 August 2024: no replacement has yet been nomlnated by NCA. NCA is a separate not-for-profit community body which is the lead orgafilser of the55 artlvity in NOttIh¥M5hlre. The NCA ha5 no dlrect role In the management of NCF beyond thls nomlnatlon but can act as an apwlcant for finarKlal supm trom NCF. NCF currently apwints two officers ty election, Chairand Treasurer. These post.holders and two further Intstees sl8nattyles to bank accwnts d. Meetln8s ofthe Intste and ffjher blnesS are nom)alfy coftd remotety vla electronlc means. Meetin8S o¢¢ur every fv8 weeks and declshons are made iry wsible ¥ote. The Chair holds a castin8 Vote in the event of a tled decislon. pi.3
NOTnNGHAMSHIRE CHESS FOUNDATION ANNUAL REPORT AND AccouNfs FOR THE YEAR ENDED 30 JUNE 2024 FINANCES The Foundation's furwjs and existence are due to the genero legacy of the late Robert Richmond. The account5 on paqts 6 to 9 show a satisfactory state of ourfinancial position. The charivs total funds stand at £644,547 as at 30 June 2024. PU8LIC 8ENEFIT The tnistees conflmi that th•y hwe complid with theirduty to hwe due relard to th• guidance on public benefit published by tht Charity Commission. All irants made to 8roups and individuals provide opportunities for members of the publsc to nqa8e in chess an¢J to develop their skills and enjoyment of the game. •nd to improve their general mental well-being. Th• target population for the projects funded is primarily based in or near to the county of NOttIh)M5hlr1. ACHIEVEMENTS AND PERFORMANCE Numb•r of prol•cts supported durin8 2023-24.. 13 Total amount grant•d: £7.645 Numb•rs takin8 part: 978 Durin8 Its third y•ar of op•ration NCF continued and extended its support for projects and events that were fund•d durin8 th• previous y•ar. Chess artpiity in the County Ind in general appears to have fully rcov•red from th• P•nd•mic period, •rd the trustees are happy to consider support foi developments when•ver they arlse. The artu•l amount of funds pald was lowrthan thè pr•vious Vèèr, party du• to th• •xc•ptional centen•ry cel•bTrtion •v•nts h•ld in 2023. b. S•v•ral 8r•nts w•r• a8•in m•d• to help partIcitorb in tejrn •rKI individual events which rniiht otherwlse hav• not b••n fininci4lly possible. This included helping to cover the cost of young aspirini player5 comwtlnl •t natlonal and int•rn•tional toumam•nts in th• caus• of fvrth•r hiih-l•v•l attainments. Th• year w•$ •Sp•Cl•l notable for the delivery of two outstsndinK events to celtbrjte the centenjry of ihe Nottinlharnshire Chess Assotiation. both of which wern support•d financially by NCF dur6n8 thè plannlni stèles in 2023-24. l. Th• NOttIhoM,Ch¢SSfeSY1ls/07l23) w•$ held In an OWn•air City ¢entr• venue •nd •ttri¢t•d Int•r•st from approximately 500 members of the public 11. A Grnndmaster tournament w)$ held in October 2023 in Ns)ttin8hJm, the first SLrch event tn the County since 1986. 10 Grandmasters and other titled players competed, including two local-based rticipants atternptl to Blin tr¢le'norm5' for m4st¢r or8r•ndmaster. In parallel with thè GM toumam•nt. a junlor •lit• •vent w•$ •lso h•ld •t the s•m• venu• and Sn th• s•me week. This afforded somè of thè yourrf pla1$ from Nottlnghamshire th• opportunity to ¢ompet• •lon¥side the established adult mastèrs, and to win prestigious awards and r•co8nltion. Slgnificant televlslon publicity was attained for thi5 aThl the GTrndrnastere¥ent. LIMITING FAORs. The perfomance of investments has slowly improvtd from the disappointmnts of 2021-22. Although the Beneral financial marketplace is still not beniln. the original capital value of the foundin8 le8acy has now been recovered, and it is hoped that its value will increase to ensure continued long-tem provision. The ability to continue rnaking grants has not been affected bU$ of intèrnst from a significant fund h•ld in a doposit •¢count and on8oini irKome from investments. NCF'S succes5 continuès to be restrained by the number of other bodies and Individuals taking action to organise projects and events that be lunded. Other members of the local chess communlty have a role P8.4
NOTnNGHAMSHIRE CHES5 FOUNDATION ANNUAL REpoirr AND ACCOUP4TS FOR THE YEAR ENDED 30 JUNE 2024 and responslbility In takin8 a lead to WOP05e Niat sthemes. rather than limit amti0ftS to betterfunded versions of existing aditIeS. NCF has the resou and capability to consider LIT8e scabe capital stheme5, but no proposals have emeryed so tsr. 7. PLANS FOR THE FUTURE Encoura8e and facilitste a lyoaderand morè amlI¢jUS approath to promoti and publiclslng chess In the County. This may be vla existi (hess bodies or by enga81 external expertise and interest. MonStor the perfomiance of existing investments c105ety and make fvrther cornmltments wilh new assets when markèt confidence Improves. Maintaln and develop the NCF website. d. Establlsh a comprehensive document stLYa8e platfom to allow trustees better access to records and Infomiatlon. 8. INDEPENDENT EXAMINAYION As the 8ros5 Income has not exceeded £25.CthI NCF has no *1 requlrement for Independent scrutlny under the Charltle5 Act 2011. However. ITU5tee5 have decided to etyae •n Indeyndeni examiner of ihe accounts to ensure ¢onslsten¢y In ¢ase ollutvre de¥eloFwnents. The examlnatlon for these accounts afHI the examlnerfs report Is on pa8e 111 On behalf of the trustees Nlck London (Chalr of Trustee51 3111012024
NoThif4GHAMSHIRE CHESS FOUNDATION ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 30JVNE 2024 STATEMENT OF FINANCIALKfiviTIES FOR THE YEAR ENOED aoJuNE 2024 Z023 In¢om• Donations and Fe8acles Unlt based Investments Interest recelvable 1.401 10,229 1.813 10.395 12,620 Total 23.920 13.443 f*p•ndltuf• Charltable actlvltle5 Admlnlstratlve expenses 7,645 15,851 574 Totsl &219 16,795 N•1 In¢om• 15.701 13.3521 Oth•r r•¢o8nls•d ylns Ilosmjl Galn (Lossl M Invesiment assets 31.911 7,734 N•t mov•m•nt In lunds 47,612 4,382 All amounts relate io unrestdcted fund5
NOTllNGMAMSHIRE CHESS FOU14DATION ANNUAL REPORT ANO Accourirs FOR THE YEAR ENDED 30 JUNE 2024 BALANCE SHEEf ASAT 30 JUNE 2014 20Z4 Flxed assets Investments 617.682 505,771 Curr•nt ass•ts Oebtors and prepayments Cash at bank 4,078 23,717 3,752 l.S56 27,795 Cr•dttws Payable wlthln one year 930 3.144 N•t CUVf•nl 455•ts 26.865 91,164 N•t aJMts 644,$47 S96,935 Unrnslyk funds Balance at start of financlal year 596,935 592,553 Net Income forthe year 47,612 4.382 B•l•nu at 30Jun• 644,547 596.935 These accounts were approved by the tntstees on 31 October 2024 N. LONDON G.LADDS Treasurer
NOTnNGHAMSHIRE CHESS FOUNDATION ANNUAL REPORT AND Accouiifs FOR THE YEAR ENDED 30 JUNE 2024 NOTES TO THE Accoupifs FOR THE YEAR ENDEO 30 JUNE 2024 l A((ountlni polld•5 These accounts have been pwared underthe historkal c05t Conventi( and in ac¢othn¢e wlth appllcable accounting Standards and where apPrOp81e the Ststement of Pe¢tynmended Prjctlce on Accountln8 for Charitle5 IFRS 1021. Le8acy income Is rec1$ed when there 15 suffiCnt cert•lnty of fecelp¢ and the monetsry value of the Income can be measuted reliably. Income from donatlons Is rec¢gnlsed when there Is of entltlement to the Oft, recelpt Is probable. and Its amount can be nwasured reliably. Charltable fants Grnni expendlture and Ilabilllies are recc£nTrsed when a fund1COmMItment made tythecharlty15 5peclffi¢ Of evldence of a consinlIve 0b1l8ati exlsts. Investments In un11-bd funds are shown •t thebr market value ai the balance sheet date. 2 In¢om•: donnI •nd l•pdqg Le8acles tk+natlons HMRC 81ft ald 16871 1,670 418 724 181 1,401 In 2023 the tharlty repald £687 a8ainsi a legary receipt from the ou$ finafidal to cover estate tax IlalJlltles that were unkIn t*hen the 2022 accnts were Jpwoved. 3 Expondltur• on d4•rltal>l• acllvlll•s InsttIOnS and or8anlsatlo Individuals 5.026 2,619 12.405 7.645 J5,851
NOTllNGHAM5HIRE CHESS FOUNDATIOP4 ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED30JUNE 2024 NOTESTO THE ACCOU5 FOR THE YEAR ENOÉD 30 JUNE 20241contlnued) 4 Admlnlstr•tl¥e exper 2024 2023 Webslte and domain Insur)n¢¢ 559 211 144 30 216 Licence Miscellaneou5 Total 574 5 In¥esknent assets CCLA EthicJl Inv•stm•nt Fund £375.Cml Fund value •t l July 335,771 328037 Movement in f•irvalu• durlng y•arlp•riod. 31,911 7,734 Fund valu• at 30 Jun• 367,682 335,771 CCLA COIF Charltl•s D•poslt FUNJ 250.000 170,000 Totsl inv•stm•nts 617,682 505,771 6 Debtors and prepaynwits 2024 2023 Debtors Pr*paym•nts 3.7 378 3,345 407 4.078 3,752 7 Credltors Grants payabl• Exptnse creditors 2457 930 3,144 p8.9
NOTnNGHAMSHIRE CHESS FOUNDATION ANNUAL REKIRT AND ACCOUNTS FOR THe YEAR EI4DED 30JU14E 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the accounts of the NOtt1m$h1o Chess Fwnd•tlon for the yearerrfled 30June 2024. whlth are set out on pages 6 to 9. AESPEcfivE RESPONSIWLffiES OF TRusfEES AND EXAMINER The charlty's trustee5 are responsible for the weparatlon ol the accounts. The chaflty's trustees conslder that an audlt Is not requlred for thls year under secu 144121 of the Chafltles Act 2011 It Is my re5ponslblllty to= e¥amlne the accounts under sectkn 145 ofthe 2011 Art io lollow the kYo¢edures lald down In the General Directlon5 8lven ty the Charlty Commisslon (under section 1451$) Ibl of the 2011 A¢1 and to state whether partlcular matter5 ha¥e come to my attenti( BASIS OF INDEPENDENT EXAMINER'S REPORT My examlnatlon was caffled out In accordance wlth the General Olrecuons 8lven the Charlty Commlsslon. An examlnaiion lrtcludes a revlew of the accovntlrvd record5 kept by the charfity and a comparlson of the x¢ounts wlth those iecords. It also Indudes Conslderatlon of any unusual Items or dlsclosures In the accounts and seeklr explanallons from the trustees Concern1 any sh matters. The procedures undertakèn do not provlde all the evfjden Ihat would be requked In an audlt. and consequentlv no oplnlon 1$ 8lbn as to thether the accounts wesent a 'true and falrf ew. and the report Is Ilmlted to those matters set out In the statement below. INOEPENDEKf EXAMINER'S STATEMEP In the course of my examlnatlon, no matter has tome io my attentim: whlch 81¥s me reasfmable cause to I)eF that In any materlal respecL the tNstee5 have noi met the requlrements to ensure that.. proper accoun11 records are kept In accordance wlth the 2011 Act. and accounts are prepared whlth 38ree with the accoun1¥ re¢ords and comply wlth the a¢¢ountin8 requlrements ol the 2011 Act.. or 121 to which in My opinion. attentlon should be drawn In order to enak4e a proper understsndln8 of the accounts to be reached Date Andrew Kay CA 5tefllng House 5 Wheatcroft Buslness Park Edwalton, Nottin8hèm NG124 OG P8. 10