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REGISTERED NUMBER: 08057072 (Wales)















Run 4 Wales Ltd.

Financial Statements

for the Year Ended 31 December 2023






Run 4 Wales Ltd. (Registered number: 08057072)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Run 4 Wales Ltd.

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R D Cole
N B Roberts
M C Newman
H W Brasher
M Nash
D A Powell
S Brace
J S M Wong





REGISTERED OFFICE: The Pod, Number 1
Capital Retail Park
Leckwith
Cardiff
Mid Glamorgan
CF11 8EG





REGISTERED NUMBER: 08057072 (Wales)





AUDITORS: Xeinadin Audit Limited
Chartered Accountants
& Statutory Auditors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Run 4 Wales Ltd. (Registered number: 08057072)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,215 -
Investments 5 4,544 4,544
7,759 4,544

CURRENT ASSETS
Debtors 6 604,275 183,438
Cash at bank 1,580,196 1,976,013
2,184,471 2,159,451
CREDITORS
Amounts falling due within one year 7 1,898,546 1,819,103
NET CURRENT ASSETS 285,925 340,348
TOTAL ASSETS LESS CURRENT LIABILITIES 293,684 344,892

RESERVES
Income and expenditure account 293,684 344,892
293,684 344,892

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2024 and were signed on its behalf by:





N B Roberts - Director


Run 4 Wales Ltd. (Registered number: 08057072)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Run 4 Wales Ltd. is a private company, limited by guarantee , registered in Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements, which is a public benefit company have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover includes income received from grants, sponsorships marketing opportunities and event admission charges, net of VAT.

Where amounts are received in advance for admission to events they are included in deferred income until the appropriate date of the event.

Where amounts are received for marketing of an event then the income is released on a systematic basis over the period from sign up to the date of the event as the benefits of the sponsorship are considered to have commenced from the initial date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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 future taxable profits.

Grants receivable
Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are included the profit and loss account in line with the relevant expenditure. Where unspent or provided for a period outside the financial year amounts are included in deferred income.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Run 4 Wales Ltd. (Registered number: 08057072)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Debtors
Amounts recoverable on contracts are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Fixed asset investments
Fixed asset investments are recorded at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 4,287
At 31 December 2023 4,287
DEPRECIATION
Charge for year 1,072
At 31 December 2023 1,072
NET BOOK VALUE
At 31 December 2023 3,215

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 4,544
NET BOOK VALUE
At 31 December 2023 4,544
At 31 December 2022 4,544

Run 4 Wales Ltd. (Registered number: 08057072)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 316,264 162,096
Other debtors 288,011 21,342
604,275 183,438

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 294,869 196,094
Taxation and social security 42,089 122,140
Other creditors 1,561,588 1,500,869
1,898,546 1,819,103

Included in Other creditors is an amount of £1,306,827 (2022: £1,170,554) representing income for deferred events.

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gareth Francis (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

9. RELATED PARTY DISCLOSURES

During the year, Run 4 Wales Limited agreed to make a donation of £nil (2022: £73,247) to its former parent, Run 4 Wales Charitable Foundation, a Charitable Incorporated Organisation (CIO).

10. LIMITED BY GUARANTEE

The company is limited by guarantee and accordingly does not have share capital.

Every member of the company undertakes to contribute such amounts as may be required not exceeding £1, to the assets of the company in the event of it being wound up while he or she is a member, or within one year after, he or she ceases to be a member.