BRAILLE CHESS ASSOCIATION REGISTERED CHARITY NUMBER: 263049 ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2010 .1. BRAILLE CHESS ASSOCIATION STATEMENT OF TRUSTEES' RESPONSIBILITIES Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards and statements of recommended practice had been followed subject to any departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the governing scheme. they are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. .2. INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRAILLE CHESS ASSOCIATION This report on the accounts of the Braille Chess Association for the year ended 30 September 2010, which are set out on pages 3 to 4, is in respect of an examination carried out under Section 44 of the Charities Act 1993 as amended by S28 of the Charities Act 2006. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINERS As the members of the Braille Chess Association you are responsible for the preparation of the accounts, you consider that the audit requirement of Section 43(2) of the Charities Act 1993 (the Act) as amended by Section 28 of the Charities Act 2006 do not apply and than an independent examination is needed. It is my responsibility to issue this report on those accounts in accordance with the terms of Regulation 7 of the Charities Act (Accounts and Reports) Regulations 1995. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried out in accordance with the General Directions given by the Charity Commission under Section 43(7)(b) of the Act and to be found in the guidance from CBF. That examination includes a review of the accounting records kept by the Braille Chess Association and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, I do not express an audit opinion on the view given by the accounts. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention: 1) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that proper accounting records are kept in accordance with Section 41 of the Act; and accounts are prepared which accord with the accounting records and comply with the requirements of the Act, or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mr I R Bain FCCA December 2010 .3. BRAILLE CHESS ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30TH SEPTEMBER 2010 INCOMING RESOURCES Subscriptions 342.00 (2009, 145) Life membership 200.00 (2009, 155) Tournament fees 15499.00 (2009, 18989) Sale of chess sets 1070.00 (2009, 195) Donations 17588.00 (2009, 46864) Members fundraising 2229.00 (2009, 657) Millennium Fund 517.00 (2009, 823) Bank interest received 169.80 (2009, 1566) Total incoming resources 37614.80 (2009, 69394) RESOURCES EXPENDED Fundraising costs 5418.44 (2009, 4850) Tournament expenses 27412.44 (2009, 39191) Purchase of chess sets and clocks 1777.16 (2009, 3013) Affiliation fees and subscriptions 391.54 (2009, 341) Insurance 453.40 (2009, 484) Book-keeping 1219.00 (2009, 1084) Accountancy 475.88 (2009, 454) Committee expenses 1039.89 (2009, 991) Equipment repairs 0 (2009, 97) Website costs 264.96 (2009, 177) Postage and stationery 2402.70 (2009, 2924) Members' gifts 0 (2009, 25) Trust guides 572.40 (2009, 572) Grass roots scheme 1600.00 (2009, 750) Total resources expended 43027.81 (2009, 54953) NET MOVEMENT IN FUNDS negative 5413.01 (2009, 14441) TRANSFERS TO/FROM RESTRICTED FUNDS 4156.83 (2009, 15428) NET MOVEMENT LESS RESTRICTED FUNDS 1256.18 (2009, 987) GENERAL FUND BALANCES AT 01.10.2009 101119.98 (2009, 102107) GENERAL FUND BALANCES AT 30.09.2010 99863.80 (2009, 101120) .4. BRAILLE CHESS ASSOCIATION BALANCE SHEET AS AT 30TH SEPTEMBER 2010 CURRENT ASSETS Cash at bank 111610.68 (2009, 117002) CURRENT LIABILITIES Trade creditors 475.88 (2009, 454) TOTAL 111134.80 (2009, 116548) FUNDS OF THE CHARITY General Funds 99863.80 (2009, 101120) Restricted Funds 11271.00 (2009, 15428) TOTAL 111134.80 (2009, 116548) Approved by the Trustees and signed on their behalf by: Trustee Gillian Smith Date 8 Dec 10 Trustee Alec Crombie Date December 2010 .5. BRAILLE CHESS ASSOCIATION NOTES TO THE ACCOUNTS ACCOUNTING POLICIES The accounts have been prepared under the Historical Cost Convention. RETAINED FUNDS (A) General Funds This represents the accumulated annual surpluses from the day to day running of the Association. (B) Restricted Funds These are balances retained from donations for specific projects or to support specific tournaments which have not yet taken place and these funds will be allocated only to those projects or tournaments as and when they occur. These funds are not available to support the general running costs of the association.