Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 04354971 Caroline Spanton Timothy Carr Shelley Davies Tim Deacon Stephen Fry Christopher Landon Gareth Sheppard Dan Wagner Adam Walker Suzanne Warren Joshua Tumbridge Caroline Spanton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04354971 2024-03-31 04354971 2025-03-31 04354971 2024-04-01 2025-03-31 04354971 frs-core:CurrentFinancialInstruments 2025-03-31 04354971 frs-core:PlantMachinery 2025-03-31 04354971 frs-core:PlantMachinery 2024-04-01 2025-03-31 04354971 frs-core:PlantMachinery 2024-03-31 04354971 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 04354971 frs-bus:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 04354971 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 04354971 frs-bus:SmallEntities 2024-04-01 2025-03-31 04354971 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 04354971 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04354971 frs-bus:Director1 2024-04-01 2025-03-31 04354971 frs-bus:Director2 2024-04-01 2025-03-31 04354971 frs-bus:Director3 2024-04-01 2025-03-31 04354971 frs-bus:Director4 2024-04-01 2025-03-31 04354971 frs-bus:Director5 2024-04-01 2025-03-31 04354971 frs-bus:Director6 2024-04-01 2025-03-31 04354971 frs-bus:Director7 2024-04-01 2025-03-31 04354971 frs-bus:Director8 2024-04-01 2025-03-31 04354971 frs-bus:Director9 2024-04-01 2025-03-31 04354971 frs-bus:Director10 2024-04-01 2025-03-31 04354971 frs-bus:Director11 2024-04-01 2025-03-31 04354971 frs-bus:CompanySecretary1 2024-04-01 2025-03-31 04354971 frs-countries:EnglandWales 2024-04-01 2025-03-31 04354971 2023-03-31 04354971 2024-03-31 04354971 2023-04-01 2024-03-31 04354971 frs-core:CurrentFinancialInstruments 2024-03-31 04354971 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 04354971
Welsh Cycling Union Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
AGJ Accountants Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 04354971
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 33,418 55,798
33,418 55,798
CURRENT ASSETS
Debtors 5 110,912 63,012
Cash at bank and in hand 1,240,711 659,819
1,351,623 722,831
Creditors: Amounts Falling Due Within One Year 6 (688,110 ) (139,007 )
NET CURRENT ASSETS (LIABILITIES) 663,513 583,824
TOTAL ASSETS LESS CURRENT LIABILITIES 696,931 639,622
NET ASSETS 696,931 639,622
Income and Expenditure Account 696,931 639,622
MEMBERS' FUNDS 696,931 639,622
For the year ending 31 March 2025 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Adam Walker
Director
27/08/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Welsh Cycling Union Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 04354971 . The registered office is Geraint Thomas Velodrome, Velodrome Way, Newport, NP19 4RB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
Turnover comprises income from grants, sponsorship, membership, domestic events and sales and is included in the financial statements on a receivable basis. Income 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 othersales taxes.
The following criteria must also be met before income is recognised:
Grants receivable
Grants are not recognised in the Income Statement until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants are measured at the fair value of the asset received or receivable.
Grants that do not impose specified future performance-related conditions on the company are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions on the company are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.
Where a grant becomes repayable it is recognised as a liability when the repayment meets the definition of a liability.
Any grant aid in kind is not included in turnover.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 3 3% on cost, 25% on cost and 20% on cost
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income and expenditure account as incurred.
2.5. 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.
2.6. Pensions
The company operates a defined pension contribution scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the income and expenditure account as they become payable.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2024: 19)
15 19
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2024 184,104
Additions 779
Disposals (7,500 )
As at 31 March 2025 177,383
Depreciation
As at 1 April 2024 128,306
Provided during the period 23,159
Disposals (7,500 )
As at 31 March 2025 143,965
Net Book Value
As at 31 March 2025 33,418
As at 1 April 2024 55,798
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 31,711 8,397
Other debtors 79,201 54,615
110,912 63,012
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 52,071 64,341
Other creditors 632,814 73,437
Taxation and social security 3,225 1,229
688,110 139,007
7. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases over the remaining life of those leases of £83,976 (2024: £95,890).
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 3