REGISTERED NUMBER: 02618166 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

BRITISH HANG GLIDING & PARAGLIDING

ASSOCIATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M N Asquith

Mr M Baxter

Mr W M Bell

Ms J A Buck

Mr J E Cunliffe

Mr P N Dancey

Dr M F Heywood

Mr B Janaway

Mr A J R Langford

Mr A I Pinkerton

Mr S F Young

SECRETARY:

Mr M N Asquith

REGISTERED OFFICE:

8 Merus Court

Meridian Business Park

Leicester

Leicestershire

LE19 1RJ

REGISTERED NUMBER:

02618166 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr P Bott FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

FIXED ASSETS

Tangible assets

4

325,086

318,602

Investments

5

1

1

325,087

318,603

CURRENT ASSETS

Stocks

9,802

9,988

Debtors

6

471,087

474,221

Cash at bank and in hand

872,319

766,123

1,353,208

1,250,332

CREDITORS

Amounts falling due within one year

7

1,065,783

989,187

NET CURRENT ASSETS

287,425

261,145

TOTAL ASSETS LESS CURRENT LIABILITIES

612,512

579,748

RESERVES

Other reserves

32,250

32,250

Income and expenditure account

580,262

547,498

612,512

579,748

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 22 December 2025 and were signed on its behalf by:

Mr A J R Langford - Director

1.	STATUTORY INFORMATION

British Hang Gliding & Paragliding Association 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.

Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due. Income represents revenue recognised by the company in respect of goods and services supplied during the year net of VAT and trade discounts.

Membership income from its members is recognised over the period to which it relates.

Tangible fixed assets

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

Freehold property

-

1% on cost

Flying Equipment

-

20% on cost

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are stated at purchase price, or, if donated, their estimated market value upon receipt, less depreciation and amounts written off.

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

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

Going concern

As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Flying

and

Computer

property

Equipment

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

356,957

48,375

42,354

40,245

487,931

Additions

-

4,362

-

15,570

19,932

Disposals

-

(1,660

)

-

-

(1,660

)

At 31 March 2025

356,957

51,077

42,354

55,815

506,203

DEPRECIATION

At 1 April 2024

49,974

46,104

33,882

39,369

169,329

Charge for year

3,570

1,909

2,118

5,851

13,448

Eliminated on disposal

-

(1,660

)

-

-

(1,660

)

At 31 March 2025

53,544

46,353

36,000

45,220

181,117

NET BOOK VALUE

At 31 March 2025

303,413

4,724

6,354

10,595

325,086

At 31 March 2024

306,983

2,271

8,472

876

318,602

On 24 June 2010 the company bought a 999 year lease for the First Floor of 8 Merus Court, Meridian Business Park, Leicester for a total cost of £356,958. The freehold, being of nominal value by virtue of the length of the lease to the BHPA, and an identical lease of the same value to the British Gliding Association, is held by 8 Merus Court Limited (a company set up for this purpose) at a value of £1.

8 Merus Court Limited is controlled by means of a £1 ordinary share held by each of the British Gliding Association Limited and the British Hang Gliding & Paragliding Association Limited.

5.	FIXED ASSET INVESTMENTS

Interest

in joint

venture

£

COST

At 1 April 2024

and 31 March 2025

1

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

23,198

11,148

Other debtors

444,139

452,323

467,337

463,471

Amounts falling due after more than one year:

Other debtors

3,750

10,750

Aggregate amounts

471,087

474,221

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Subscriptions in advance

532,293

503,979

Trade creditors

469,623

448,134

Taxation and social security

39,184

9,603

Other creditors

24,683

27,471

1,065,783

989,187

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

The Report of the Auditors was unqualified.

Mr P Bott FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

9.	LIMITED BY GUARANTEE

The company is incorporated as a company limited by guarantee and does not have a share capital. Accordingly, the liability of each member is restricted to an undertaking to contribute towards the company’s net assets or liabilities in the event of it being wound up. Such contribution is limited to a maximum of £1 per member and may be called upon for up to one year after a member ceases their membership. At 31 March 2025, the company had 6,854 members (2024: 7,012).

10.

LOAN FUND

A loan fund was established to provide financial assistance in the form of interest free loans to non-commercial member clubs. At 31 March 2025 £10,750 were granted (2024: £17,750).