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.'
￿e￿On Close. Lowdham, Nott1￿haM, 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.
G￿fflihs
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 In￿teeS present their report for the year ended 30June 2024. It IS the chariVs thlrd ann￿1 ￿￿(.
I. OBJE￿vE5 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 proM￿lIV￿ the development of peOe thro￿ the teach1￿ and practlce
of chess.
Each objert wlll be achleved lry prthislon of finan¢lal support to d￿5 prokcts Inltlated by not-for-profft
organlsatknns. groups and lfidibiduas."
b. The prlmary fLMKtlon and buslness olthe Noult¥hamshlre Chess Four*datlon 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$Urt￿ assets lo Invested to prvAde res*)urces for maklft8 8raDts for the purposes stated In the
oblects, and
11. to ensure the ¢harltV5 resources are malntalned In pe￿￿ty.
c. The methods ty whth trustees alm to athlL*e these lunctlons are stated In..
The Chess Strate8V
The Flnanclal StrateKv
both of whlch are refere￿e￿ In the constltutbon and tjoth ol whlch are re¥lewed and updated every year.
d. The cdterla by declslons are made by tn￿tee5 on supportln8 requests for lunds are speclfled In the
Grant-Makir6 pollcy, which Is made available to poieniial applicants.
2. STRucfuRI GOVERNANCE AND MANAGEME14T
a. The charlty Is a Charttable IrKtypordted Ck8anlsatknn fi￿t ￿1$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
NOttI￿h¥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 b￿lnesS 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
NOttI￿h)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
r*cov•red from th• P•nd•mic period, •r*d the trustees are happy to consider support foi developments
when•ver they arlse. The artu•l amount of funds pald was low*rthan 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 partIci￿t￿orb 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• NOttI￿hoM,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 pla￿1$ 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 FA￿ORs.
The perfomance of investments has slowly improvtd from the disappointm*nts 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 b￿U$* 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 Nia￿t sthemes. rather than limit am￿ti0ftS to betterfunded
versions of existing adi￿tIeS. 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 am￿lI¢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 apPrOp￿81e the Ststement of Pe¢tynmended Prjctlce on Accountln8 for
Charitle5 IFRS 1021.
Le8acy income Is rec￿￿￿1$ed when there 15 suffiC￿nt cert•lnty of fecelp¢ and the monetsry value of the
Income can be measuted reliably.
Income from donatlons Is rec¢gnlsed when there Is of entltlement to the Oft, recelpt Is probable.
and Its amount can be nwasured reliably.
Charltable
fants
Grnni expendlture and Ilabilllies are recc£nTrsed when a fund1￿COmMItment made tythecharlty15 5peclffi¢
Of evldence of a consin￿lIve 0b1l8ati￿ exlsts.
Investments In un11-b￿d funds are shown •t thebr market value ai the balance sheet date.
2 In¢om•: don￿￿nI •nd l•pdqg
Le8acles
tk+natlons
HMRC 81ft ald
16871
1,670
418
724
181
1,401
In 2023 the tharlty repald £687 a8ainsi a legary receipt from the ￿￿ou$ finafidal to cover estate
tax IlalJlltles that were unkI￿￿n t*hen the 2022 acc￿nts were Jpwoved.
3 Expondltur• on d4•rltal>l• acllvlll•s
Inst￿￿tIOnS 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 ACCOU￿5 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 NOtt1￿m$h1o Chess Fwnd•tlon for the yearerrfled 30June 2024. whlth are set
out on pages 6 to 9.
AESPEcfivE RESPONSIWLffiES OF TRusfEES AND EXAMINER
The charlty's trustee5 are responsible for the weparatlon ol the accounts. The chaflty's trustees conslder that an
audlt Is not requlred for thls year under secu￿ 144121 of the Chafltles Act 2011
It Is my re5ponslblllty to=
e¥amlne the accounts under sectkn 145 ofthe 2011 Art
io lollow the kYo¢edures lald down In the General Directlon5 8lven ty the Charlty
Commisslon (under section 1451$) 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 s￿h matters.
The procedures undertakèn do not provlde all the evfjden￿ Ihat would be requked In an audlt. and consequentlv
no oplnlon 1$ 8lb*n 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 accoun￿1¥ 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