REGISTERED NUMBER: 02908378 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

ROYAL YACHTING ASSOCIATION CYMRU.WALES -

CYMDEITHAS HWYLIO BRENHINOL CYMRU.WALES

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J P Frost

F Lloyd

B J Oulton

A S Pulford

S V Reynolds

N M Stubbins

S A Tudor

J M Viney

A J S Williams

SECRETARY:

R L Roberts

REGISTERED OFFICE:

Plas Menai

National Outdoor Centre

Caernarfon

Gwynedd

LL55 1UE

REGISTERED NUMBER:

02908378 (England and Wales)

ACCOUNTANTS:

Arthur Gait & Company Limited

Chartered Certified Accountants

18 Gold Tops

Newport

NP20 5WJ

FIXED ASSETS

Tangible assets

4

52,593

67,515

CURRENT ASSETS

Debtors

5

14,795

10,555

Cash at bank

330,661

303,353

345,456

313,908

CREDITORS

Amounts falling due within one year

6

88,554

52,747

NET CURRENT ASSETS

256,902

261,161

TOTAL ASSETS LESS CURRENT LIABILITIES

309,495

328,676

CREDITORS

Amounts falling due after more than one year

7

46,559

55,215

NET ASSETS

262,936

273,461

RESERVES

Other reserves

29,823

42,956

Income and expenditure account

233,113

230,505

262,936

273,461

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 19 September 2025 and were signed on its behalf by:

S V Reynolds - Director

1.	STATUTORY INFORMATION

Royal Yachting Association Cymru.Wales - Cymdeithas Hwylio Brenhinol Cymru.Wales 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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Revenue grants and sponsorships

These are credited to income in the periods to which they relate. Amounts relating to later periods are shown as income in advance.

Sportsman specific grants

The Association holds the legal title only to such capital assets, as they are held on trust for the individual Talent Cymru Lottery funded athlete together with Sport Wales. Such assets are capitalised at their net cost after grant aid, normally nil.

Capital grants

These are credited to a liability reserve and are released over the expected useful life of the related fixed asset.

Finance income and costs policy

The Fund has been established to re-cycle the proceeds from the sale of boats in order to assist the Association to meet it's unfunded portion of the replacement costs of squad boats and/or coach boats. These proceeds are transferred to the Fund each year and costs expended are debited from the Fund.

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

-

50% on cost, 25% on cost, 10% on cost and Straight line over 8 years

Financial instruments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of

change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve

months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months

after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

342,321

Additions

3,472

At 31 March 2025

345,793

DEPRECIATION

At 1 April 2024

274,806

Charge for year

18,394

At 31 March 2025

293,200

NET BOOK VALUE

At 31 March 2025

52,593

At 31 March 2024

67,515

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

6,968

5,154

Other debtors

7,827

5,401

14,795

10,555

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Boat loan deposits

1,646

3,040

Trade creditors

26,296

21,896

Taxation and social security

999

1,036

Other creditors

59,613

26,775

88,554

52,747

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

46,559

55,215