The Welsh Badminton Union Limited - Accounts to registrar (filleted) - small 18.2

The Welsh Badminton Union Limited - Accounts to registrar (filleted) - small 18.2

THE WELSH BADMINTON UNION LIMITED - Company Information

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REGISTERED NUMBER: 04987692 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

THE WELSH BADMINTON UNION LIMITED
THE WELSH BADMINTON UNION LIMITED (REGISTERED NUMBER: 04987692)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE WELSH BADMINTON UNION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DIRECTORS: H W Archer-Williams
K A Sheppard
C McCluskey
E A Bevan
C E Devonald
V A Luke
D A G James





REGISTERED OFFICE: Sport Wales National Centre
Sophia Gardens
Cardiff
CF11 9SW





REGISTERED NUMBER: 04987692 (England and Wales)





ACCOUNTANTS: Arthur Gait & Company
Chartered Accountants
18 Gold Tops
Newport
South Wales
NP20 5WJ
Page 1
THE WELSH BADMINTON UNION LIMITED (REGISTERED NUMBER: 04987692)

BALANCE SHEET
31 MARCH 2018

31.3.18 31.3.17
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -

CURRENT ASSETS
Stocks 1,750 2,910
Debtors 5 13,798 14,598
Cash at bank and in hand 171,669 177,112
187,217 194,620
CREDITORS
Amounts falling due within one year 6 24,620 66,332
NET CURRENT ASSETS 162,597 128,288
TOTAL ASSETS LESS CURRENT
LIABILITIES
162,597
128,288

RESERVES
Income and expenditure account 162,597 128,288
162,597 128,288

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 19 November 2018 and were signed on its behalf
by:





D A G James - Director


The notes form part of these financial statements

Page 2
THE WELSH BADMINTON UNION LIMITED (REGISTERED NUMBER: 04987692)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1. STATUTORY INFORMATION

The Welsh Badminton Union Limited 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 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
Turnover comprises income from grants, sponsorship and membership. All income is accounted for on a
receivable basis. Any grant aid in kind is not included in turnover.

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 - 25% on cost and 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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.

Grants
Grants towards revenue expenditure are credited to income in the period to which they relate. Where grants
relate to specific project expenditure lasting for more than one year, the remaining grant is deferred pro rata and
shown under current liabilities.

Going concern
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.

Page 3 continued...
THE WELSH BADMINTON UNION LIMITED (REGISTERED NUMBER: 04987692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

2. ACCOUNTING POLICIES - continued

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the income and expenditure account in the period to which they relate.

Taxation
The company is considered to be a mutual trading entity and any income arising from mutual trading activities is
exempt from corporation tax.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2017
and 31 March 2018 11,762
DEPRECIATION
At 1 April 2017
and 31 March 2018 11,762
NET BOOK VALUE
At 31 March 2018 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 10,063 14,598
Other debtors 3,735 -
13,798 14,598

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade creditors 1,549 20,156
Social security and other taxes 3,122 -
Other creditors 10,535 13,993
Sport Wales deferred income 9,414 32,183
24,620 66,332

7. LIMITED BY GUARANTEE

The company is limited by guarantee and does not have a share capital. Each member of the company is liable to
a maximum of £1 in the event of the winding up of the company.

Page 4