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REGISTERED NUMBER: 06179841 (England and Wales)

| Welsh Athletics Limited |

| Financial Statements |

| for the Year Ended 31 March 2025 |

| Welsh Athletics Limited (Registered number: 06179841) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Welsh Athletics Limited |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | D S Perks

| T C Overton

| J P Ford

| L J Kerr

| L Mason

| P J Draper

| C M Gough

| C A Lewis

| D Clements

| L M Brier

| N K Walker

| SECRETARY: | J Williams

| REGISTERED OFFICE: | Cardiff International Sports Stadium

| Leckwith Road

| Leckwith

| Cardiff

| CF11 8AZ

| REGISTERED NUMBER: | 06179841 (England and Wales)

| AUDITORS: | HSJ Audit Limited

| Severn House

| Hazell Drive

| Newport

| Gwent

| NP10 8FY

| Welsh Athletics Limited (Registered number: 06179841) |

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 18,000 |  | 24,960 |  |

Tangible assets | 5 | 7,532 |  | 11,424 |  |

25,532 |  | 36,384 |  |

CURRENT ASSETS

Stocks | 52,823 |  | 35,695 |  |

Debtors | 6 | 214,330 |  | 60,499 |  |

Cash at bank and in hand | 418,333 |  | 667,023 |  |

685,486 |  | 763,217 |  |

CREDITORS

Amounts falling due within one year | 7 | 497,467 |  | 575,718 |  |

NET CURRENT ASSETS | 188,019 |  | 187,499 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 213,551 |  | 223,883 |  |

RESERVES

Income and expenditure account | 213,551 |  | 223,883 |  |

213,551 |  | 223,883 |  |

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 October 2025 and were signed on its behalf by:

D S Perks - Director

| Welsh Athletics Limited (Registered number: 06179841) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Welsh Athletics Limited is a private company, limited by guarantee , registered in England and 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 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, Membership fees and Events.Turnover is recognised when:

| 1. Entitlement to the grant is confirmed;

| 2, Membership and services fees are accounted for in the year to which they relate.

| 3, An event has occurred in the financial year.

| Unspent grants are shown in the balance sheet as deferred income which is included in accruals and deferred income.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| The website is being amortised evenly over its estimated useful life of five years. Additional licencing requirements will start to be amortised in the year that the beneficial handover occurs and will be amortised over 3 years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | 25% - 33.33% on cost

| Fixtures and fittings | - | 25% - 33.33% on cost

| Investments

| Investments in shares are included at fair value.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

| Welsh Athletics Limited (Registered number: 06179841) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 35 (2024 - 33 ) .

4. | INTANGIBLE FIXED ASSETS

| Website

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 62,748 |  |

| AMORTISATION

| At 1 April 2024 | 37,788 |  |

| Amortisation for year | 6,960 |  |

| At 31 March 2025 | 44,748 |  |

| NET BOOK VALUE

| At 31 March 2025 | 18,000 |  |

| At 31 March 2024 | 24,960 |  |

5. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |

| machinery |  | fittings |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 49,706 |  | 53,216 |  | 102,922 |  |

| Additions | 12,287 |  | - |  | 12,287 |  |

| Disposals | - |  | (16,215 | ) | (16,215 | ) |

| At 31 March 2025 | 61,993 |  | 37,001 |  | 98,994 |  |

| DEPRECIATION

| At 1 April 2024 | 45,310 |  | 46,188 |  | 91,498 |  |

| Charge for year | 15,499 |  | 2,708 |  | 18,207 |  |

| Eliminated on disposal | - |  | (18,243 | ) | (18,243 | ) |

| At 31 March 2025 | 60,809 |  | 30,653 |  | 91,462 |  |

| NET BOOK VALUE

| At 31 March 2025 | 1,184 |  | 6,348 |  | 7,532 |  |

| At 31 March 2024 | 4,396 |  | 7,028 |  | 11,424 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade debtors | 53,561 |  | 27,127 |  |

| Prepayments and accrued income | 160,769 |  | 33,372 |  |

214,330 |  | 60,499 |  |

| Welsh Athletics Limited (Registered number: 06179841) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 152,656 |  | 286,540 |  |

| VAT | 10,858 |  | 6,950 |  |

| Other creditors | 4,408 |  | - |  |

| Accruals and deferred income | 329,545 |  | 282,228 |  |

497,467 |  | 575,718 |  |

| Deferred income as at the balance sheet date is £322,576 (2024: £259,390). Deferred income includes the amount of £236,253 (2024: £197,371) relating to Sport Wales funding.

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

| The Report of the Auditors was unqualified.

| Andrew Hill FCCA ACA DChA BFP (Senior Statutory Auditor)

| for and on behalf of HSJ Audit Limited

9. | 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.