| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 11 AUGUST 2023 TO 31 AUGUST 2024 |
| FOR |
| CARDIFF DRAGONS GROUP LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 11 AUGUST 2023 TO 31 AUGUST 2024 |
| FOR |
| CARDIFF DRAGONS GROUP LIMITED |
| CARDIFF DRAGONS GROUP LIMITED (REGISTERED NUMBER: 15064698) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 11 AUGUST 2023 TO 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| CARDIFF DRAGONS GROUP LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 11 AUGUST 2023 TO 31 AUGUST 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 18 Gold Tops |
| Newport |
| NP20 5WJ |
| CARDIFF DRAGONS GROUP LIMITED (REGISTERED NUMBER: 15064698) |
| BALANCE SHEET |
| 31 AUGUST 2024 |
| Notes | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CARDIFF DRAGONS GROUP LIMITED (REGISTERED NUMBER: 15064698) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 11 AUGUST 2023 TO 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Cardiff Dragons Group Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| In considering the appropriate basis on which to prepare the financial statements, the directors are required to consider whether the company can continue in operational existence for the foreseeable future. |
| The company is a wholly owned subsidiary of The Welsh Netball Association from which it receives financial support. The directors have made an assessment and satisfied themselves of the parent company's ability to provide continuing financial support to the company for the foreseeable future. They therefore adopt the going concern basis of accounting in preparing these financial statements. |
| Turnover |
| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the income can be reliably measured. Income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| The following criteria must also be met before income is recognised: |
| Sale of merchandise |
| The company recognises income from the sale of merchandise when all of the following conditions are satisfied: |
| - the company has transferred to the buyer the significant risks and rewards of ownership of the goods; |
| - the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
| - the amount of revenue can be measured reliably; |
| - it is probable that the economic benefits associated with the transaction will flow to the company; and |
| - the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Sponsorship |
| Income arising from sponsorship is normally recognised over the period of the sponsorship term. When the sponsorship is linked to a particular event or condition, income is recognised when the specific event has taken place or the condition has been met. |
| Provision of services |
| Income from a contract to provide services is recognised in the period in which the services are provided. |
| CARDIFF DRAGONS GROUP LIMITED (REGISTERED NUMBER: 15064698) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 11 AUGUST 2023 TO 31 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments, transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable. |
| Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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. |
| Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. |
| Cash and cash equivalents comprise cash at bank and in hand. |
| Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| Taxation |
| Taxation for the period 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 period 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL. |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| CARDIFF DRAGONS GROUP LIMITED (REGISTERED NUMBER: 15064698) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 11 AUGUST 2023 TO 31 AUGUST 2024 |
| 6. | OTHER FINANCIAL COMMITMENTS |
| At 31 August 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £2,151. |