Company registration number 09295346 (England and Wales)
MOUNTAIN TRAINING CYMRU BOARD LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MOUNTAIN TRAINING CYMRU BOARD LIMITED
CONTENTS
Page
Directors' report
1 - 4
Balance sheet
5
Notes to the financial statements
6 - 9
MOUNTAIN TRAINING CYMRU BOARD LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2024.

Principal activities

The principal activity of the company is to advance, for the public benefit of education and training, primarily in Wales, the skills required for leading and instructing safe hill, mountain, moorland and countryside walking and indoor climbing, rock climbing, and other associated activities practised in cliff and mountain environments, and to offer advice on matters of training and safety.

Board of Directors

Andy Newton            Chair

Emily Scott            Treasurer

Andy Bevan            Director

Bryn Williams            Director

Richard Jones            Resigned 2nd May 2024

A Gibbs                Resigned 5th June 2024

Danielle Brackenridge         Appointed 5th June 2024

Liz Heyworth Thomas        Appointed 5th June 2024

Richard Lewis            Appointed 5th June 2024

Monique Stevens            Appointed 5th June 2024

 

Secretary

Simon Patton

MOUNTAIN TRAINING CYMRU BOARD LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

A management Board of members, drawn from a wide range of interested organisation advises the Directors on all aspects of the Company’s activities. The Directors and the Management Council have met regularly during the year. The Management Council was constituted as follows:

 

Members

Association of Heads of Outdoor Education Centres        Andy Meek

Association of Mountaineering Instructors            Andy Newton

British Associations of International Mountain Leaders        Ross Worthington

British Mountaineering Council Cymru            Matt Woodfield

British Association of Mountain Guides            Phill George

Duke of Edinburgh’s Award Cymru                Steph Price

Girlguiding Cymru                    Gill Beazley

North Wales Mountain Rescue Association            Tim Radford

Plas y Brenin                        Helen Barnard

Outdoor Education Advisors Panel                Mike Rosser

Ramblers Cymru                        Angela Charlton

Scouts Cymru                        Wyn Owen

 

Advisors/observers

Association of British Climbing Walls Training Trust         vacant

British Mountaineering Council                vacant

Independent advisor                    Will Kilner

Institute for Outdoor Learning                vacant

Joint Services Mountain Training Centre            Chris Forrest

Mountain Training UK and Ireland                John Cousins

Natural Resources Wales                    Joe Roberts

Y Partneraith Awyr Agored/ Outdoor Partnership        Simon Jones

Wales Activity Tourism Organisation                Paul Donovan

 

 

MOUNTAIN TRAINING CYMRU BOARD LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

Review of Progress and Achievements

 

MTC’s Board continues to hold four official meetings and three Council meetings per year. In the main, these meetings continue to take place online.

Over the course of the financial year, our two main income streams, registration fees and course attendance fees, remained steady despite the cost of living crisis. 1,019 candidates registered on our schemes, and 2,132 candidates booked onto a training or assessment course.

 

MTC’s future looks uncertain due to a loss of Sport Wales funding (March 2022). Discussions are ongoing to identify a suitable way forward for the company. Notably, the Board, with Council agreement, intends to convert from a Company Limited by Guarantee to a Charitable Incorporated Organisation (CIO). Conversion work is underway.

Discussions with Sport Wales are ongoing but have been unfruitful.

 

Following several months of development, we launched our new website earlier this year which coincided with a rebrand of the entire Mountain Training network. Feedback on both has been positive.

 

After consultation with members of the Association of British Climbing Walls it became evident that there was significant demand for a bouldering wall specific qualification. Development of a new Bouldering Wall Instructor qualification is now at an advanced stage. This new qualification will launch early in 2025.

 

Mountain Training’s Finance Review Group which comprises of all Mountain Training Home Nation Boards met during the year. The outcome of which was to increase scheme registration fees and course attendance fees. All price increases were introduced early in 2024.

 

In line with Mountain Training England and Mountain Training Scotland, MTC introduced a new Provider Agreement which was implemented on 1st January 2024. All providers are now signed up to the new contract.

 

In addition to the day to day operation of the Company, work for the current financial year will focus, in the main, on securing the future of Mountain Training Cymru. Additional work will comprise of completing a new 5 year company strategy, recruiting providers for the new bouldering qualification ready for it’s launch in early 2025 and provider and course director workshops.

 

 

 

MOUNTAIN TRAINING CYMRU BOARD LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Simon Patton
Company Secretary
MOUNTAIN TRAINING CYMRU BOARD LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 5 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
5,610
6,977
Cash at bank and in hand
68,502
87,031
74,112
94,008
Creditors: amounts falling due within one year
6
(9,024)
(9,976)
Net current assets
65,088
84,032
Reserves
-
0
Income and expenditure account
65,088
84,032
Members' funds
65,088
84,032

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 13 September 2024 and are signed on its behalf by:
A Newton
Director
Company Registration No. 09295346
MOUNTAIN TRAINING CYMRU BOARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
1
Accounting policies
Company information

Mountain Training Cymru Board Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Siabod Cottage, Capel Curig, Betws Y Coed, Conwy, United Kingdom, LL24 0ES.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

 

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Fixtures and fittings
33% or 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MOUNTAIN TRAINING CYMRU BOARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 7 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in surplus or deficit immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in surplus or deficit depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

MOUNTAIN TRAINING CYMRU BOARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was :

2024
2023
Number
Number
Total
-
0
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
1,327
Depreciation and impairment
At 1 April 2023 and 31 March 2024
1,327
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges due
5,045
6,200
Other debtors
565
777
5,610
6,977
MOUNTAIN TRAINING CYMRU BOARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,217
3,727
Other creditors
6,807
6,249
9,024
9,976
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

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