Squashwales Ltd

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

Registered number: 05453674

		2026		2025 as restated
	Notes	£	£	£	£
FIXED ASSETS

CURRENT ASSETS
Stocks		7,417		4,894
Debtors	5	35,676		42,991
Cash at bank and in hand		204,540		204,565

		247,633		252,450
CREDITORS: Amounts Falling Due Within One Year	6	(46,637 )		(112,922 )

NET CURRENT ASSETS (LIABILITIES)			200,996		139,528

TOTAL ASSETS LESS CURRENT LIABILITIES			200,996		139,528

NET ASSETS			200,996		139,528

Income and Expenditure Account			200,996		139,528

MEMBERS' FUNDS			200,996		139,528

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

R Bennett

Director

23/10/2026

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

1. General Information

Squashwales Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 05453674 . The registered office is Sport Wales National Centre, Sophia Gardens, Cardiff, CF11 9SW.

The presentation currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest £.

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

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 and Expenditure Account 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. Any grant aid in kind is not included in turnover.

Membership income

Membership income is recognised in the year to which it relates.The proportion of membership income received in the year that relates to a subsequent accounting period is deferred and 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.

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 and machinery etc. - 33% on cost and 10% on cost

2.4. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs.

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Squashwales Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

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

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

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

Trade and other creditors

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.

Impairment of financial assets

Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

2.6. Taxation

Tax expense represents the sum of the tax currently payable. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

The average number of employees during the year was: 5 (2025: 5)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 April 2025	11,946

As at 31 March 2026	11,946

Depreciation
As at 1 April 2025	11,946

As at 31 March 2026	11,946

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	-

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Squashwales Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Debtors

	2026	2025 as restated
	£	£
Due within one year
Other debtors	35,676	42,991

6. CREDITORS: Amounts Falling Due Within One Year

	2026	2025 as restated
	£	£
Trade creditors	7,838	6,262
Other creditors	31,814	99,516
Taxation and social security	6,985	7,144

	46,637	112,922

Included within 'other creditors' is income from Sport Wales amounting to £6,432 deferred into 2026/27 (2025 £75,838 deferred into 2025/26).

7. 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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