Welsh Cycling Union Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

Registered number: 04354971

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		16,502		33,418

			16,502		33,418
CURRENT ASSETS
Debtors	5	102,615		110,912
Cash at bank and in hand		946,961		1,240,711

		1,049,576		1,351,623
Creditors: Amounts Falling Due Within One Year	6	(341,293 )		(688,110 )

NET CURRENT ASSETS (LIABILITIES)			708,283		663,513

TOTAL ASSETS LESS CURRENT LIABILITIES			724,785		696,931

NET ASSETS			724,785		696,931

Income and Expenditure Account			724,785		696,931

MEMBERS' FUNDS			724,785		696,931

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.

On behalf of the board

Adam Walker

Director

28/07/2026

The notes on pages 2 to 4 form part of these financial statements.

1. General Information

Welsh Cycling Union Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 04354971 . The registered office is Geraint Thomas Velodrome, Velodrome Way, Newport, NP19 4RB. The company trades as Beicio Cymru.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Turnover comprises income from grants, sponsorship, membership, domestic events and sales and is included in the financial statements on a receivable basis. 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 othersales 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 impose 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.

Any grant aid in kind is not included in turnover.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

3 3% on cost, 25% on cost and 20% on cost

2.4. Leasing and Hire Purchase Contracts

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income and expenditure account as incurred.

2.5. 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.

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Welsh Cycling Union Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Pensions

The company operates a defined pension contribution scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the income and expenditure account as they become payable.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2025: 15)

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 April 2025	177,383
Additions	6,195

As at 31 March 2026	183,578

Depreciation
As at 1 April 2025	143,965
Provided during the period	23,111

As at 31 March 2026	167,076

Net Book Value
As at 31 March 2026	16,502

As at 1 April 2025	33,418

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	29,937	31,711
Other debtors	72,678	79,201

	102,615	110,912

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	62,576	52,071
Other creditors	278,546	632,814
Taxation and social security	171	3,225

	341,293	688,110

Included within the 'Other creditors' balance and 'Cash at bank and in hand' balance is £231,315 (2025: £593,415) of funds recieved from Sport Wales that are being held for other bodies for their specific forthcoming capital projects. The company releases funds to the relevant bodies only after its internal project due diligence requirements have been satisfied.

7. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases over the remaining life of those leases of £92,378 (2025: £83,976).

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Welsh Cycling Union Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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