Bringing Chess to Visually Impaired People

The Gazette - August 2020

Sponsored by The Ulverscroft Foundation
Edited by Julie Leonard
The views expressed in the Gazette do not necessarily reflect the policies or views of the BCA, nor those of the editor.

Treasurer’s Report

Since writing my report for the May Gazette we have received another £4,000 in grants resulting from the work Julia had done before she retired last November. Generous donations were received from the Anson Charitable Trust, the Calleva Foundation, Moynitrust and the Provincial Grand Lodge of Warwickshire. We are fortunate to have some donors who give to our charity regularly and Linda is making contact with them to maintain the relationships.

At our May committee meeting, held over Skype, we ratified the accounts for the financial year ending in September 2019. I have now completed the annual return to the Charity Commission. This involves submitting our year end accounts and our trustees report and answering some questions about our activities.

Our accounts are published on our website. If you wish to be sent a copy please ask and let me know what format you would like it in.

Overview of the BCA accounts for the financial year to 30 September 2019.

All figures are to the nearest pound.

Total funds £91,923 which includes the following.

Total BCA cash funds £55,863. These funds are in accounts held with CAF Bank, Lloyds Bank and Virgin Money.

Total investment assets £36,060. These medium to long term investments are held with CCLA who specialise in services for charities.

Our investment funds continued to do well. We received £482 in dividends from our Income Units and their increase in value was nearly 6.5%. Our accumulation units increased in value by nearly 10%. For comparison, the FTSE index decreased by 1.17% over the same time period.

A breakdown of income and expenditure follows.


Donations, legacies, grants 34,001.

Chess tournaments 26,806.

Fundraising by members 1,293.

Interest on deposit accounts 579.

Dividends from investments 482.

Membership subscriptions 234.

Total income: 63,395.

Asset sales, sets and clocks 607.

Asset sales, BCA merchandise 46.

Total receipts: £64,048.


Chess tournaments 53,011.

Professional fees (accountant, coaches, fundraiser, treasurer, web) 11,233.

Braille production, including Gazette 2,231.

Committee expenses (including recruitment costs) 1,555.

Print, post, stationery, supplies 931.

Subscriptions and publications 865.

Insurance 476.

Lottery prizes 420.

Bank charges 139.

Total outgoings: £70,861.

Current state of finances – values at 2 July 2020.

In CAF bank we have £16,929.

With Lloyds we have £4,179.

Virgin Money holds £33,572.

The total cash held in these accounts is £54,680.

Within the cash accounts, we have restricted funds, given for specific purposes, of £4,528.

Also, some of these cash funds are held as credit for members after events were cancelled, £2,752 altogether. If the BCA holds some money on your behalf and you decide at any time that you would like it paid back then please let me know and I can repay you.

Total investments with CCLA are valued at £36,884. Although our investment funds had reduced in value at March end, they have since rallied. The value of these investments has risen by £824 compared with the beginning of October and we have received dividends totalling £239.

Total funds, including cash accounts and investments, £91,564.

Gill Smith, Treasurer