Welsh Amateur Swimming Association Limited

	Page
Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3—4

Page 1

Page 2

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: 06043726

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		430,000		420,000

			430,000		420,000
CURRENT ASSETS
Cash at bank and in hand		134		28

		134		28
Creditors: Amounts Falling Due Within One Year	5	(3,945 )		(3,498 )

NET CURRENT ASSETS (LIABILITIES)			(3,811 )		(3,470 )

TOTAL ASSETS LESS CURRENT LIABILITIES			426,189		416,530

Creditors: Amounts Falling Due After More Than One Year	6		(156,738 )		(163,248 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(6,147 )		(3,647 )

NET ASSETS			263,304		249,635

RESERVES
Revaluation reserve			181,706		171,706
Income and Expenditure Account			81,598		77,929

MEMBERS' FUNDS			263,304		249,635

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

Mr F G Feeney

Director

13 November 2025

The notes on pages 3 to 4 form part of these financial statements.

Page 2

Page 3

Welsh Amateur Swimming Association Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Welsh Amateur Swimming Association Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 06043726 . The registered office is Wales National Pool Swansea, Sketty Lane, Swansea, SA2 8QG.

2. Accounting Policies

2.1. Basis of Preparation of 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 as modified by the revaluation of certain assets.

2.2. Going Concern Disclosure

The company has adequate resources to continue in operational existence for the foreseeable future. As there are no uncertainties about its ability to continue as a going concern, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4. Investment Properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit.

To ascertain the fair value at the balance sheet date, investment properties are valued at their estimated open market valuation on a freehold basis conducted annually by an independent firm of chartered surveyors.

2.5. Financial Instruments

The company only enters into basic financial instruments, transactions that result in the recognition of financial assets and liabilities including loans from related parties.

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.

Cash and cash equivalents

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

Other creditors

Other creditors including loans from related parties 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.

2.6. 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 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.

Page 3

Page 4

Welsh Amateur Swimming Association Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Investment Property

	2025
	£
Fair Value
As at 1 April 2024	420,000
Revaluations	10,000

As at 31 March 2025	430,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	310,365	310,365

The investment property was last valued by Dawsons Surveyors, an independent and qualified expert firm, on the 31 March 2025.

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	2,499	1,750
Taxation and social security	1,446	1,748

	3,945	3,498

6. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Amounts owed to group undertakings	156,738	163,248

7. Related Party Disclosures

The company continues to receive an interest free loan from its parent company, Swim Wales Limited and at 31st March 2025, the amount owed to the Swim Wales Limited, which is included within creditors: amounts falling due after more than one year', was £156,738 (2024: £163,248).

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.

9. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. Audit Information

The auditor's report on the accounts of Welsh Amateur Swimming Association Limited for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Mr Andrew Hill FCCA ACA DChA BFP (Senior Statutory Auditor) for and on behalf of HSJ Audit Limited , Statutory Auditor.

Page 4

Directors	Mr R J Eady
	Mr A Bewley
	Ms E L Powell
	Mr F G Feeney
	Mr H M Lewis

Company Number	06043726

Registered Office	Wales National Pool Swansea
	Sketty Lane
	Swansea
	SA2 8QG

Accountants	HSJ Audit Limited