REGISTERED NUMBER: 06179841 (England and Wales)

Welsh Athletics Limited

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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

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

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.

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

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.