Company Registration No. 04495036 (England and Wales)
THE COMMONWEALTH GAMES COUNCIL FOR WALES
(LIMITED BY GUARANTEE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
THE COMMONWEALTH GAMES COUNCIL FOR WALES
CONTENTS
Page
Statement of financial position
1
Detailed trading and income and expenditure account
13 - 14
THE COMMONWEALTH GAMES COUNCIL FOR WALES
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
1,303
1,738
Investments
5
761,384
758,026
762,687
759,764
Current assets
Trade and other receivables
7
16,849
10,977
Cash and cash equivalents
983,750
904,976
1,000,599
915,953
Current liabilities
8
(113,308)
(36,528)
Net current assets
887,291
879,425
Total assets less current liabilities
1,649,978
1,639,189
Provisions for liabilities
9
(26,242)
(32,413)
Net assets
1,623,736
1,606,776
Reserves
Income and expenditure account
10
1,623,736
1,606,776
Members' funds
1,623,736
1,606,776

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 2025 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.

T he 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 21 October 2025 and are signed on its behalf by:
W Barbour
Director
Company Registration No. 04495036
THE COMMONWEALTH GAMES COUNCIL FOR WALES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

The Commonwealth Games Council for Wales is a private company limited by guarantee incorporated in England and Wales. The registered office is National Indoor Athletics Centre, Cyncoed Road, Cardiff, CF23 6XD.

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Property, plant and equipment

Tangible assets are stated at cost less accumulated depreciated and accumulated impairment losses. Cost includes the original purchase price, plus any costs directly attributable to bringing the asset to its working condition for its intended use,

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 bases:

Computer equipment
25% Reducing Balance

At each balance sheet date, the company reviews the carrying amount of its tangible assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

(ii) Subsequent additions

Subsequent costs are included in the assets' carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefit associated will flow to the company and the cost can be measured reliably.

(iii) Derecognition

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Income Statement.

1.3
Non-current investments

Listed investments held as current assets are recognised and subsequently remeasured at the quoted market value at the balance sheet date. All movements in fair value are recognised in the income statement.

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.

THE COMMONWEALTH GAMES COUNCIL FOR WALES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
Basic financial assets

Basic financial instruments are accounted for in accordance with section 11 of FRS102 and comprise cash and cash equivalents.

Basic debt instruments are measured at amortised costs.

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 trade and other payables, 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 paymen ts 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 payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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

Current tax is recognised at the moment of tax payable using the tax and laws that have been enacted or substantially 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 substantially 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 is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.7
Employee benefits

The company operates a defined contribution pension scheme. Contributions are charged to the Income Statement as they become payable in accordance with the rules of the scheme. Differences between contributions payable in the year and contributions actually paid are shown in either accruals or prepayments on the Statement of Financial Postion.

THE COMMONWEALTH GAMES COUNCIL FOR WALES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
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.

1.9

Listed Investments

Listed investments held as fixed assets are shown at the quoted market value at the balance sheet date. Fair value movements on listed investments are recognised through profit and loss.

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.

There are no key sources of estimation uncertainty.

3
Employees

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

2025
2024
Number
Number
Total
6
6

THE COMMONWEALTH GAMES COUNCIL FOR WALES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Property, plant and equipment
Computer equipment
£
Cost
At 1 April 2024 and 31 March 2025
3,930
Depreciation and impairment
At 1 April 2024
2,192
Depreciation charged in the year
435
At 31 March 2025
2,627
Carrying amount
At 31 March 2025
1,303
At 31 March 2024
1,738
5
Fixed asset investments
2025
2024
£
£
Investments
761,384
758,026
THE COMMONWEALTH GAMES COUNCIL FOR WALES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Fixed asset investments
(Continued)
- 6 -
Other Investments
£
Cost or valuation
At 1 April 2024
758,026
Additions
72,149
Valuation changes
(6,776)
Disposals
(62,015)
At 31 March 2025
761,384
Carrying amount
At 31 March 2025
761,384
At 31 March 2024
758,026
6
Fixed assets investments included at fair value at the year end
2025
2024
£
£
Valuation at 31 March
104,968
129,652
Original cost
656,416
628,374
761,384
758,026
7
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Accounts receivable
14,684
7,450
Other receivables
2,165
3,527
16,849
10,977
8
Current liabilities
2025
2024
£
£
Corporation tax
6,452
3,550
Other taxation and social security
-
0
938
Accruals and deferred income
106,856
32,040
113,308
36,528
THE COMMONWEALTH GAMES COUNCIL FOR WALES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
9
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
26,242
32,413
10
Income and expenditure account
2025
2024
£
£
At the beginning of the year
1,606,776
1,571,290
Surplus for the year
16,960
35,486
At the end of the year
1,623,736
1,606,776
11
Members' liability

The company is limited by guarantee, and does not have share capital. 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 but not exceeding £1.

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