BRITISH NORDIC WALKING C.I.C.

Company Registration Number:
06636564 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2023

Period of accounts

Start date: 1 August 2022

End date: 31 July 2023

BRITISH NORDIC WALKING C.I.C.

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

BRITISH NORDIC WALKING C.I.C.

Balance sheet

As at 31 July 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 398 0
Total fixed assets: 398 0
Current assets
Stocks: 4 3,706 2,366
Debtors: 5 3,279 3,629
Cash at bank and in hand: 21,807 38,180
Total current assets: 28,792 44,175
Creditors: amounts falling due within one year: 6 ( 9,181 ) ( 10,361 )
Net current assets (liabilities): 19,611 33,814
Total assets less current liabilities: 20,009 33,814
Provision for liabilities: ( 75 ) 0
Total net assets (liabilities): 19,934 33,814
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 19,932 33,812
Total Shareholders' funds: 19,934 33,814

The notes form part of these financial statements

BRITISH NORDIC WALKING C.I.C.

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 8 February 2024
and signed on behalf of the board by:

Name: C Hughes
Status: Director

The notes form part of these financial statements

BRITISH NORDIC WALKING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off thecost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:Computer Equipment - 33% Reducing Balance

    Other accounting policies

    Going concern basisThe directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.Government grantsGovernment grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets.Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.Foreign currenciesMonetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreigncurrencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.TaxationTaxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.Deferred taxationDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other futuretaxable profits. Current and deferred tax assets and liabilities are not discounted.StocksStocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion offixed and variable overheads.ProvisionsProvisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can bereasonably estimated.

BRITISH NORDIC WALKING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

BRITISH NORDIC WALKING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2022 1,418 1,418
Additions 461 461
Disposals ( 450 ) ( 450 )
Revaluations
Transfers
At 31 July 2023 1,429 1,429
Depreciation
At 1 August 2022 1,418 1,418
Charge for year 63 63
On disposals ( 450 ) ( 450 )
Other adjustments
At 31 July 2023 1,031 1,031
Net book value
At 31 July 2023 398 398
At 31 July 2022 0 0

BRITISH NORDIC WALKING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Stocks

2023 2022
£ £
Stocks 3,706 2,366
Total 3,706 2,366

BRITISH NORDIC WALKING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Debtors

2023 2022
£ £
Trade debtors 777 1,571
Prepayments and accrued income 1,689 942
Other debtors 813 1,116
Total 3,279 3,629

BRITISH NORDIC WALKING C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 85 712
Accruals and deferred income 9,041 9,577
Other creditors 55 72
Total 9,181 10,361

COMMUNITY INTEREST ANNUAL REPORT

BRITISH NORDIC WALKING C.I.C.

Company Number: 06636564 (England and Wales)

Year Ending: 31 July 2023

Company activities and impact

Offering Nordic Walking education and training to public and private organisations like city councils, hospitals, charities, community groups, and businesses, in accordance with the guidelines set forth by the International Nordic Walking Federation (INWA), the sport's governing body, is among the company's primary functions. The company will continue to work in partnership with community groups to encourage people to exercise. Provide support for existing Nordic Walking instructors in setting up classes and running events. Helping the general public with their Nordic Walking inquiries. Sharing research findings into the benefits of Nordic Walking for people with disabilities and various health conditions. Promote Nordic walking to inactive populations, because they are drawn to Nordic Walking due to its accessibility. People stick with Nordic Walking because its enjoyable and the fact that it has significant health benefits without appearing to require a lot of effort. Taking part in a Nordic Walking group can be a great way to meet new people and strengthen bonds with those you already know.

Consultation with stakeholders

Our key stakeholders are Nordic Walking instructors. At our annual convention we invite our stakeholders to contribute to the strategic priorities for the following year.

Directors' remuneration

The aggregate amount of emoluments paid to or receivable by directors in respect of qualifying services was £16,170. There were no other transactions or arrangements in connection with the remuneration of directors or compensation for director’s loss of office which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
8 February 2024

And signed on behalf of the board by:
Name: C Hughes
Status: Director