Pelfasged Cyf - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08273793 (Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

PELFASGED CYF

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

H M Jones

G D Williams

P N John

Mrs L E Witt

C S Seeley

J Kurtz-Shefford

Miss S Collins

M I Thomas

A K R Mair

Mrs M M Hellerman

REGISTERED OFFICE:

5 Cwrt Rebecca

Pontarddulais

Swansea

SA4 8JL

REGISTERED NUMBER:

08273793 (Wales)

ACCOUNTANTS:

Martin Waterworth Limited

Chartered Accountants

Bronwylfa

Llangunnor Road

Carmarthen

Dyfed

SA31 2PB

FIXED ASSETS

Tangible assets

4

1,948

3,011

CURRENT ASSETS

Debtors

5

9,969

12,092

Cash at bank

112,142

84,519

122,111

96,611

CREDITORS

Amounts falling due within one year

6

37,946

30,084

NET CURRENT ASSETS

84,165

66,527

TOTAL ASSETS LESS CURRENT LIABILITIES

86,113

69,538

ACCRUALS AND DEFERRED INCOME

7

1,948

3,011

NET ASSETS

84,165

66,527

RESERVES

Income and expenditure account

8

84,165

66,527

84,165

66,527

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 29 November 2018 and were signed on its behalf by:

G D Williams - Director

1.	STATUTORY INFORMATION

Pelfasged Cyf is a private company, limited by guarantee , registered in Wales. The company's registered number

and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Membership income is recognised to match the underlying costs of membership.

Revenue determined by grant agreements is recognised based on the conditions for each grant and delivery

against those conditions.

Ticket income, competition income and other event income are recognised as revenue when the related event is

staged.

All other income is recognised on a recoverable basis.

Tangible fixed assets

Tangible fixed assets are stated at historic cost less accumulated depreciation and accumulated impairment

losses. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its

working condition for its intended use. Tangible fixed assets are depreciated on a straight-line basis calculated to

write down their cost to estimated residual values over their estimated useful economic lives as follows:

Computer Equipment - Straight Line over 3 years

Basketball Equipment - Straight Line over 3 years

Assets are capitalised if an individual asset exceeds £100 in value.

Expenditure

Where payments are made relating to expenditure for specific events in a future period, that expenditure is

carried as prepayments and recognised as expenditure when the related event is staged.

Grants

Grants receivable in respect of tangible fixed assets are credited to the income statement over the expected useful

economic lives of the relevant assets to which they relate. Grants received but not yet released to the income

statement are included as deferred income in the balance sheet.

Revenue grants are released to the income statement in the same year as the related expense.

Contributions in-kind

Where consideration is received in kind, income and expenditure are grossed up on the basis of arms' length

commercial rates. Incoming resources from non-exchange transactions are recognised as follows:

- Transactions that do not impose specified future performance-related conditions on the recipient are recognised

in income when the resources are received or receivable;

- Transactions that do impose specified future performance-related conditions on the recipient are recognised in

income only when the performance-related conditions are met; and

- Where resources are received before the revenue recognition criteria are satisfied, a liability is recognised.

Incoming resources from non-exchange transactions are measured as follows:

- Donated services and facilities that would otherwise have been purchased are measured at the value to the

entity; and

- All other incoming resources from non-exchange transactions are measured at the fair value of the resources

received or receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

and 31 March 2018

3,190

DEPRECIATION

At 1 April 2017

179

Charge for year

1,063

At 31 March 2018

1,242

NET BOOK VALUE

At 31 March 2018

1,948

At 31 March 2017

3,011

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

578

1,120

Other debtors

9,391

10,972

9,969

12,092

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade creditors

4,772

6,200

Other creditors

33,174

23,884

37,946

30,084

7.	ACCRUALS AND DEFERRED INCOME

31.3.18

31.3.17

£

£

Deferred capital grants

1,948

3,011

The deferred capital grants relate to grants to purchase capital equipment and are released to the income

statement in line with depreciation of that equipment.

8.

RESERVES

During the 2017-18 financial year, £11,227 of income was received from FIBA as a result of Welsh National

Teams competing in FIBA tournaments. £10,000 of the funds from FIBA were spent during the financial year on

the National Teams, of which £10,000 related to designated funds brought forward from 2016/17. This leaves

£21,227 designated for re-investment into National Teams' events in future financial years. The remaining

£62,938 of reserves at 31 March 2018 is unrestricted funds.