The Welsh Sports Association Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05835990 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

THE WELSH SPORTS ASSOCIATION LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H Humphrey

J P Ford

F G Feeney

M A Tweed

S Jones

K Stokes-Davies

P A Whapham

S R Corria

D Phillips

REGISTERED OFFICE:

Sport Wales National Centre

Sophia Gardens

Cardiff

CF11 9SW

REGISTERED NUMBER:

05835990 (England and Wales)

ACCOUNTANTS:

Arthur Gait & Company

Chartered Accountants

18 Gold Tops

Newport

South Wales

NP20 5WJ

BANKERS:

Lloyds Bank PLC.

1 Gwent Square

Cwmbran

NP44 1XN

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

-

-

-

-

CURRENT ASSETS

Debtors

6

43,256

15,983

Cash at bank and in hand

98,244

136,468

141,500

152,451

CREDITORS

Amounts falling due within one year

7

40,751

62,891

NET CURRENT ASSETS

100,749

89,560

TOTAL ASSETS LESS CURRENT LIABILITIES

100,749

89,560

RESERVES

Income and expenditure account

100,749

89,560

100,749

89,560

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 24 September 2019 and were signed on its behalf by:

J P Ford - Director

1.	STATUTORY INFORMATION

The Welsh Sports Association Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover includes grants receivable and income from sponsorship and the provision of services.

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

-

Straight line over 3 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income and Expenditure

Account, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

and 31 March 2019

1,071

DEPRECIATION

At 1 April 2018

and 31 March 2019

1,071

NET BOOK VALUE

At 31 March 2019

-

5.	FIXED ASSET INVESTMENTS

The company wholly controls Vibrant Nation Ltd, a private company, limited by shares, registered in England

and Wales.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

18,912

15,983

Amounts owed by group undertakings

24,344

-

43,256

15,983

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

11,457

26,584

Taxation and social security

11

3

Other creditors

29,283

36,304

40,751

62,891

8.	SHARE CAPITAL

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