NOTTINGHAMSHIRE CHE55 FOUNDATION ANNVAL REPORT AND ACCOUNTS FOR THE YEAR ENDED JO JVNE 2025 General Informatlon Trustees Annual At St•lernent of fin•ncTral Ktivltles 8￿¥￿te sheet Notes to the accounts Irthpendent exa￿ne￿5 report io PIOTllNGHj￿9SH1RE CHESS FOUNDATION ANNUAL REPORT AND ACCOLIPITS FOR THE YEAR ENDED 30JUNE 2025 GENERAL IMFOAMATIOII Name: Nottingham51ure Che55 Foundaiion lalso known a5 NCFI Charlty Number: 1194887 linco￿lTrted on 22 j￿￿ 20211 Re8lstered Address: 18 Newton aose. Lowdham, Nottittym. NG14 THF TTustee5'. 2210612023 1710712024 1710712024 2210612022 0810712024 0810712024 1610112025 1910712023 1910712023 2V0612026 1710712027 1710712027 2V0612025 0610712027 10712027 151ov2028 1810712026 1810712026 Mr. Edward Reappolnted by trustees Treasurer Mr. Ladds Lty)don Toylof Graham Mf. Nicholas Marc Chalr Reappolnted by trustees Renomlnated by NCA Renomlnated by NCA Nominated by NCA Ap￿ftled by trustees Appdnted by trustees Mr. Mr. Christ¢)pher Davld R￿h John Mr. Gflffiihs Humphfeys Swain Dr. Mr. Walker Tlmothy Note on Trustees.. Mr Graham Nell Indlcated hls Preference to wlthdraw fvom his rde as trustee from 311Q812024. both to NCF trustees and tts hls appolniin8 body. Noili￿gh3mShIr* Chess Assoclation. Trustees have offered thelr thanks for hls contrlbutlon D￿r the past three vears. Mrs Ruth Humphrrys was subsequentty appobnted ￿ NottlWmsNre Chess A$sod•tI￿ to ser4e as a nomlnated trustee. Bankers.. Ctroperatlve Bank rt PO Box 250. Delf House. So￿hWay. Skelmersdale. WN8 6VIT Investment A8ents: CCLA Investment Management Ltd, One A￿*1 Lane. L(mdon, EC4R 3AB Independent Examiner.. Andrew Kay CA Ster11￿ House. S Wheatcroft auslness Park, Edwalton, Nottln8ham. NG12 4DG. po.2 NOTfiNGHAMSHIftE CHESS FOUNDATION At4NUAL REPORT ANO ACCOUNT5 FOR THE YEAR ENDED 30 JUNE 2025 TrU5TEES ANNUAL REPORT The trustees pTe5ent thelf ￿pOrt forthe year ended 30June 2025. n is the tharitvs fourth annual rem. 1. 08JEaNES AND AIMS OF THE FOUNDATK)N a. The obhects stated in the Constituti￿ are: "Ill the advancement of ¥mattur sport by Pfomotin8 the study and Pract1￿ of chess in all its forms, principally. bui noi exclusively. for the benefit of the residents of, and fof all people who have lived, worked, studled, or played lea8ue Chess Trn the County of Nottln8hamshlfe and surrnundlng areas. and 121 the advancement of educatlon ty promoti￿ the develo¢Mnent of people through the teachlng and practl of Chess. Each oblect wlll be achbeved by provlskn of flnancbl support to chess yoAects Inltlated by not.for*n)fit organlsatlons, groups and indiiryduals." b. The prfmary lun¢tlon and business of the Nottlrvahamshlre Chess Foundatlon INCFI 15 to administer the chari￿5 funds. whith mosity ¢LNnpilse of a SI￿le la￿e legary and some smaller donatlons. The trusttes are re5F￿￿S1b￿e for: ensurlng assets are Invested to provlde fesources lor mèkltw erants lor ihe purposes ststed In the objects, and 11. to ensure the charl￿5 Te50urces are malntalned In perpetulty. c. The methods by whlth trustees alm to athleve lunrtlms are slated In: The Chess Strategy The Fln¥n¢lal sirat both of which are referenced In the constltutlm and of ¥thlth are rt4lewed and updated every year. d. The crlterSa by whlch declslons are m•de by tr4tstees on sUPPOrtlng requests for funds are 5pecffied In the Giant-makI￿ pollcy. whl¢h Is made avallable to wenllal applicants. 2. STRucfuRE, GOVERNANCE AND MANAGEMEpir The charltyls a Charftable In¢orpDrated ¢knnlsatlon fi￿t regb5tered on 22 June 2021. It1$ 8overned by a Constitutlon appYoved by the Charitles Commisslon at forniatlon. The charfty Is managed ty the charlty trustees who are the On￿ votin8 members of the charity. b. The constltutlon allows for a maxlmum of 9 tTU5tee5. UP to 3 of whtyn are nomlnated for a three.year perlod by Nottin8hamshlfe Chess Assodatlon INCA). These are cuTrentty.' Mr. C Budd. Mr. D Grlffiths, Mrs. Ruth Humphrey5. NCA 15 a separate not.for.wofit comfflu￿ty body whlth is the le•d orynlser ofchess actlvlty In Nottln8hamshire. The NCA has Th) dlrect role In the mana8ement of NCF btr￿d this nomlnatlon t￿1 Can act as an appllcant for financbal SUP￿ fr¢#Th NCF. L NCF currentty aponts tvm officers ty elertitin, Chalr and Treasurer. These pOst4￿derS and two further trpjstees are s*naiorbes to bank accounts Meeiln85 ofthe trustees and other l)wlness are normally Cond￿ remotety vla ekntronic means. Meetin8S occur every fv8 weeks and dedslons are made iry visible Vote. The Chair holds a casting vote In the event of a ed dedslon. NOTnNGHAMSHIRE CHESS FOUNDATION ANNUAL REPORT AND Accouiifs FOR THE YEAR ENDED 30 JUNE 2025 FINANCES The Foundailon's fvnds and exlsten¢e are due to thegenerous Wy of the late Rotjert Rlthmond. The acwunts on page5 6 to 9 skn¥ a satlsfactory state of our financial p05itlon. The charitys total lunds stand at £641,346 a5 of 30June 2025. 4. PUBLIC BENEFIT The trustees conflmi that they have complled wlth thelr duty to have due regard to the guldance on publlc beneflt publlshed by the Charlty Commlsslon. All 8rants made 10 8roups and Indlvlduals provlde opportunitles for members of the public to en8a8e In chess and to develop thelr ski115 and enioymefit of the8ame. arKI to irnprove their general mental well-bei￿. The target population for the propcts fvnded Is primarily based in or near to the county of Nottin8hamshire. ACHIEVEMÉNTS AND PEAFOAMANCE Durfn8 the year 2024-25: Number of prohects supptyted .. Total amount granted: Numbers takln8 Part.. 19 123-24- 131 £9.907 123-24= £7,645) 123-24. 9781 a. Durlng lis lourth year ofoperatlon NCF has contlnued and extendedlts 5UPPOrt for profrects and events that were funded durln8 ihe prevlous year. Chess a￿ty in the County and beyond contlnues to thdve and develop. and trustees are happy to have encouraged and hel￿d both groups and Indlvlduals In Pu￿Uln8 thelr Interest and amlxllons In Chess. b. Several grants were again made to help partldpaikni In team and Indivldual events whlch mi8ht otherwlse have not been fI￿n￿¥t￿ posslble. Thls IrKI￿ helplng to cover the ¢0st of young as￿rITh￿ playe￿ competln8 at natlonal and International tournaments In the cause of further hl8h-level attalnments. Trustees were pleased to Sup￿ a group of talented and de¥elopiThJ teena8ers a5 t￿ endeavoured to advance thelr chess standards. A notawe pattern in the applitstions and grants made was the dsing Interesi from schools around the County. Th15 Induded the lom1￿ of new xhool ¢hess dubs and expand4￿ or re4qulppln8 themselves wlth the help of8rants from NCF. d Notable Indlvldual events lor whlch grants were made.. The'Lithuanian Che55 Chalen8e' in whlch a team of 10 Uthuanlan lunlors vlslted the County and played In a team toumarnent against local sdth5 a￿1 club51fy) participants) il The'EJCOA' NaiiMal Finals. held In Nottingham, whlch NCF supported in terms of venue costs and also subsid15ed entry fees for all ￿¥1 players. c￿ 2Th)comWed, ￿nd￿lIn& 28 Nottln8hamshlre. based juniors An acce5slble Document St¢)re has ntyw been estsbllshed, wtlth enables tntstees to vlew all ap￿IcatIons. MIn￿•S and other relevant documents at wlll. Actlon has been taken to publi¢ise the NCF to Sd￿ In NottbWmshlTe with some posltive reSp￿se5 and results. 6. LIMMNG FAcroAs'. The performance of investments has Con￿n￿ed to be a concern for t￿￿tee$. The global econornlc and wlltlcal enwronment h•$ affected financlal markets, so that the original investments made in 2021 are still valued I￿OW their purchase value. However. Interest and dfvldends are still provldlrq mre irKome than is beln8 spent. b The commeraal ￿￿)vider of the NCF website has kYo¥en to be ￿relIable. Thls Is the maln channel of communlcation and pu￿o￿ty for potentlal 8rnnt applicants. and tis ¢K¢aslfyul fallure has been a lom￿1￿ factor In receivi￿ requestL 140TfiNGHAMSHIRE CHESS FOUNDATION ANNUAL REPORT A14D ACCOUNTS FOR THE YEAR ENDED 30JUNE 2025 PLANS FOR THE FUTURE Adjust the financial strategy to rellect the volatile envIr￿rnent. Thls may include ￿(￿tIon of a55ets and changes to investment instruments. Furthef actlon to publicise the NCF, Indudirvd the wodu¢tion of prlnteo materfal and the rdlsin8 01 NCF'S profile ai Chess events. Replace the existing NCF 4¥ebsite and its probryder with a re14able •fKI easlly malnt0i￿d strurture. 8. INDEPENDENT EXAMINATION As the gross income ha5 not ex¢eeded E25.(th NCF has no legal requirement for Independent scrutlny under the CharltSes Acl 2011. However, tru5tee5 have decided to ewe •n independeni txamlner ol the xmunts to ensure ¢on51stenLy In case ofluiure devdopwnents. The examination for these accounts and the examlnerfs repon Is on p4e 10. On behalf of the trustees Nl¢k London Ichalr olTr￿tee$} 2710812025 NOThNGHAMSHIRE CHESS FOUNDATION ANNUAL REpoKf AND ACCOUNTS FOR THE YEAR ENDED 30JUNE 2025 STATEMENT OF FiP4ANCNL AcnvmES FOR ThE YEAR ENDED 30JUNE 1025 Donatlons and le8acles Unli based invesiments Interest receivable 10.638 11.970 10,395 12,620 Tot•1 22,608 23,920 Exp•ndllur• Cha￿table actlvllles Admlnistratl¥e expenses 7,fA5 545 574 Tot•1 10.452 &219 li￿6 15,701 Oth•r f•co8nls•d 8alns Ilosusl ILossl Galn on Imiestment assets IIS.357) 31,911 P4•t mty4•m•rt In funds 13.2011 47,612 All amounts fdaie to unrestrfcted fund5 140ThNGHAMSHIRE CHES5 FOUNDATION ANNUAL REPORT AND ACCOUtirs FOR THE YEAR ENDED 30 JUNE 20Z5 BALANCÉ SHEET AT 30JUNE 2025 AM•d a55•ts Investments 611325 617,682 Curr•nl •sMts Oebtors and prepayments Cash at bank 4.020 27.097 4,078 23,717 31,117 27.795 Cr•dllO Payable w￿h1n one year 930 N•t ¢urr•nt •Js•ts 29.021 26,865 641.346 644.547 Balance at start ol ftnanclal year 644.547 5%,935 Net Income for the year 13.2011 47.612 8•knnc• •t 30Jyh• 641,346 6M,547 These accounts were approved by the tntsiees M 27 10812025 N LONDON Chalr G LADDS Treasu p8.7 NOTnNGHAM5HIRE CHESS FOUNDATION ANNUAL REPORT AND Accouiifs FOR THE YEAR ENDED 30JUNE 2015 NOTesTO THE ACCOUNT5 FOR THE YEAR ENDED 30 JUNE 2025 l Acu>unth¥ poll These accounts have been Fryared 4rnder the hlstor5cal cost conventlon and In accordarKe wlth appllcable a¢couniin8 Standards and where appropriate the Statement of Recommended PTrrtice w A¢¢ountln8 for Charftle5 IFRS 1021. Le8acy Income Is reco8nised when thefe bs suffl¢lent certalnty of recdpt and the nw)netary value of the Income can be measured ￿lIably. Income from donatlons Is reco8nlsed w￿n there b5 VAden￿ Olen￿de￿￿t to the 811i recelpt Is probable, and Its amount cart be measured reliabty. Grant expendlture and Ilablllties are reco8nlsedwhen a fvndlrqcommltment made bythecharlty Is 5peclfic or evldence of a consinKtive obliqatlon exlsts. Investment In unlt-based fvnds ¥e at thebr market value at the ball￿t sheet date. 2 Incom•: don•tlons •vl l•pd Donatlons HMRC 81ft ald 724 Instltutlons and or8an15atlons Indivlduals 5.026 2,619 2,967 9.X17 7,645 NOTnNGHAMSHIRE CHES5 FOUNDATION ANNUAL REPORT AND AccouFif5 FOR THE YEAR ENDED 30 JUNE 2025 r40TES TO THE Accourirs FOR THE YEAR ENDED 30 JUNE 202S Icontlnuedl 2025 webS￿e and domaln Insuran 179 IS6 216 Llcen¢e Mlscellaneous Totsl 545 574 CCL4 Ethlcal Investmeni Fynd 375.0 Fund value at l July 367.682 335,771 Investments In the year Movement In falr value durfn8 the year. 115,3571 31.911 Fund value on 30 lune 377,325 367.682 CCLA CIJF Charliles Deposlt Fund 235,￿) 250,000 Total Investments 612,325 617,682 Debto Prepayments 3,642 378 3,7((J 378 4.020 4.078 7 Cr•dllm Grants payable Expense credltors 930 NOTnNGHAMSHIRE CHESS FOUNDAnoN ANNUAL REPORT AND ACCOUPItS FOR THE YEAR ENDED 30JUNE 2025 INOEPENDENT EXAMIIIER'S REpoKfTO ThE TRUSTEES I report on the x¢i)unts of the NotiinghaMshi￿ Che55 foundation for the year ended 30 June 2025. t*hich are Set out ￿ Pa8es 6t0 9. RESPECTIVE ftESPoN￿￿1LtTlEs OF TAUSTEES AND EWAINER The charity's trustees are resp0Th51We for the preparation of the accounts. The chariV5 trystee5 CWb51der that an audit is not required lor th15 year under 5ertiM 144¢21 of ihe Ch•rities Art 2011 It Is my respjnsikxllty to.. tx•mlne ihe ac¢ounts under sectlrm 145 olthe 2011 Art to lollow the wttedures lald down In General Olferth￿S O¥eTr Chadty Commisslon lundtr sectlon 145151 Ibl ol the 2011 Act and to stste whether particular rnatte￿ have come to my •ttentlon BASIS or INDEPENDENT EXAMINER'S REPORT My examlnatlon wa5 carrled out in accordance the Gtneral Dliertlons O¥on by the Charity comm15￿0￿. An examlnatlon indudes a reviewof the a¢c¢JuniinA reciyds kept byttr* chartty and a compaAson of the accounts wlth those records. It also Includes COn￿deratIOn of any unusual Itèm5 or dlsdtswres In the Jccounts 3eeklng èxplanatlons from the trustets tonctrnln8 arty s￿h matters. The p￿<¢dU￿5 undertaken thj not wovldt all the evlderte th•1 W￿ld be re4ulred In an audlt, •nd conseouentlv Tro opinlon Is ilven as io whether ihe 4ccouNS present a '1￿￿ and l•irf ¥lew and the repon Is Ilrnlted to those matters set out In the 51*ement belty¥. INDEPENOENT EXAMINERS STATEMENT In the coun• of my examlTr•tlon. no m•tter h•$ come to ffly attent1￿. whlch fves me ￿•s0n￿ble caug¢ to belle¥e Ih•t In respetl trust*ts havo not met the requirements to ensure that- proper ￿¢t￿ntin& ￿cordS ¥re kept in Kcorthnc¢ with the 2011 Act: and atttyjnts are prepared wthlch ¥8ret wlth the acwuntlry record5 riryly with iht accountln8 requSrements ot the 2011 Act,. or to whlth In my oplr*lon. •ttentlrffi should be drawn In wder to t￿ble J proper uryIer5t•ndl￿ of the accounts to be reached Afidrew Kay CA Sterlln8 House 5 Wheatcroft 8usfjness Park Edwalion Nottin8ham NG12 4 DG 4 N￿eM1)er 202S