REGISTERED NUMBER: 02679598 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

THE WELSH NETBALL ASSOCIATION

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Bobbett

C Hares

M M Hellerman

G Morgan-Evans

H C Williams

S Connelly

SECRETARY:

L Milford

REGISTERED OFFICE:

Sport Wales National Centre

Sophia Gardens

Cardiff

CF11 9SW

REGISTERED NUMBER:

02679598 (England and Wales)

ACCOUNTANTS:

Arthur Gait & Company Limited

Chartered Certified Accountants

18 Gold Tops

Newport

NP20 5WJ

FIXED ASSETS

Tangible assets

4

-

795

CURRENT ASSETS

Stocks

3,000

6,670

Debtors

5

86,498

21,069

Cash at bank and in hand

467,308

619,256

556,806

646,995

CREDITORS

Amounts falling due within one year

6

334,152

192,665

NET CURRENT ASSETS

222,654

454,330

TOTAL ASSETS LESS CURRENT LIABILITIES

222,654

455,125

RESERVES

Income and expenditure account

222,654

455,125

222,654

455,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 11 December 2025 and were signed on its behalf by:

S E Boswell - Director

1.	STATUTORY INFORMATION

The Welsh Netball Association 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 (£).

The company is a public benefit entity.

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.

Preparation of consolidated financial statements

The financial statements contain information about The Welsh Netball Association as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Income is recognised to the extent that it is probable that the economic benefits will flow to the company and the income can be reliably measured. Income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The following criteria must also be met before income is recognised:

Grants receivable

Grants are not recognised in the Income Statement until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants are measured at the fair value of the asset received or receivable.

Grants that do not impose specified future performance-related conditions on the company are recognised in income when the grant proceeds are received or receivable. Grants that imposes specified future performance-related conditions on the company are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Where a grant becomes repayable it is recognised as a liability when the repayment meets the definition of a liability.

Sponsorship

Income arising from sponsorship is normally recognised over the period of the sponsorship term. When the sponsorship is linked to a particular event or condition, income is recognised when the specific event has taken place or the condition has been met.

Membership subscriptions

The company's membership year runs from September to August. Subscriptions received in the financial year ending 31 March therefore relate to the period before and after the year end date. The proportion of membership income received in the year that relates to the five months' membership, April to August, is carried forward to the following financial year.

Provision of services

Income from a contract to provide services is recognised in the period in which the services are provided.

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 etc

-

25% on cost, 20% on cost and 10% on reducing balance

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

Stocks

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

Financial instruments

The company only enters into basic financial instruments, transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.

Cash and cash equivalents comprise cash at bank and in hand.

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation

The company is considered to be a mutual trading entity and any income arising from mutual trading activities is exempt from corporation tax.

Leases

Rentals payable under operating leases are charged to the Income Statement on a straight line basis over the term of the relevant lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

113,036

DEPRECIATION

At 1 April 2024

112,241

Charge for year

795

At 31 March 2025

113,036

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

795

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

13,761

19,406

Other debtors

72,737

1,663

86,498

21,069

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

65,647

48,723

Taxation and social security

4,061

17,956

Other creditors

264,444

125,986

334,152

192,665

Other creditors at 31 March 2025 includes income received from Sport Wales deferred to the following financial year totalling £35,336.

7.	OTHER FINANCIAL COMMITMENTS

At 31 March 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £7,130 (2024 £4,092).