Company registration number 04413282 (England and Wales)
Cycling Time Trials
Unaudited financial statements
For the year ended 31 March 2025
Cycling Time Trials
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Cycling Time Trials
Statement of financial position
As at 31 March 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
102,353
-
0
Tangible assets
4
4,753
12,034
107,106
12,034
Current assets
Stocks
14,339
9,839
Debtors
5
69,661
73,254
Cash at bank and in hand
292,935
392,129
376,935
475,222
Creditors: amounts falling due within one year
6
(56,276)
(65,375)
Net current assets
320,659
409,847
Net assets
427,765
421,881
Reserves
Other reserves
157,855
157,855
Income and expenditure account
269,910
264,026
Members' funds
427,765
421,881

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.

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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 17 October 2025 and are signed on its behalf by:
Ms A Parish
Director
Company registration number 04413282 (England and Wales)
Cycling Time Trials
Notes to the financial statements
For the year ended 31 March 2025
- 2 -
1
Accounting policies
Company information

Cycling Time Trials is a private company limited by guarantee incorporated in England and Wales. The registered office is The Glades, Festival Way, Festival Park, Stoke-on-Trent, Staffordshire, ST1 5SQ.

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. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Development costs
20% per annum on cost
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% per annum on cost
Motor vehicles
25% per annum on net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

Cycling Time Trials
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and bank overdrafts.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 creditors 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 creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Cycling Time Trials
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -
1.9
Taxation

The company is exempt from corporation tax on its mutual trading activities, being a company not carrying on a business for the purposes of making a profit.

Tax is due on non-mutual trading activities.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

2
Employees

The average monthly number of persons employed by the company during the year was:

2025
2024
Number
Number
Total
4
3
3
Intangible fixed assets
Development costs
£
Cost
At 1 April 2024
-
0
Additions
105,261
At 31 March 2025
105,261
Amortisation and impairment
At 1 April 2024
-
0
Amortisation charged for the year
2,908
At 31 March 2025
2,908
Carrying amount
At 31 March 2025
102,353
At 31 March 2024
-
0
Cycling Time Trials
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 5 -
4
Tangible fixed assets
Computer equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2024
8,250
27,348
35,598
Additions
1,126
-
0
1,126
Disposals
(6,739)
-
0
(6,739)
At 31 March 2025
2,637
27,348
29,985
Depreciation and impairment
At 1 April 2024
548
23,016
23,564
Depreciation charged in the year
1,021
1,083
2,104
Eliminated in respect of disposals
(436)
-
0
(436)
At 31 March 2025
1,133
24,099
25,232
Carrying amount
At 31 March 2025
1,504
3,249
4,753
At 31 March 2024
7,702
4,332
12,034
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
8,146
11,717
Other debtors
61,515
61,537
69,661
73,254
6
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
2,729
717
Other creditors
53,547
64,658
56,276
65,375
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently 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 not exceeding £1.

Cycling Time Trials
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 6 -
8
National Committee Members

No emoluments were paid during the year. Only accommodation, travel expenses and subsistence were paid in accordance with section 46 of the Articles of Association.

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