CHARITY REGISTRATION NUMBER.. 1198258 CARDIFF BMX RACING CLUB Financial Statements 31 December 2022 HARPER SHELDON LIMITED Chartered accountants& stalulory auditor Midway House staverton Technology Park Herrick Way, Staverton Chellenham, Glos. GL516TQ
CARDIFF BMX RACING CLUB Financial Statements Period from 15 March 2022 to 31 December 2022 Page Trustees, annual report Independent auditor's report to Ihe members Statement of financial activities statement of financial position Statement of cash flows 10 Notes to the financial staternents 11
CARDIFF BMX RACING CLUB Trustees, Annual Report Period from 15 March 2022 to 31 December 2022 The Iruslee5 piesènt their report and the financial slalements of the charity for the period ended 31 December 2022. Referencè and admini5trdtive details RegiSt&red charity name CARDIFF BMX RACING CLUB Charity registration number 1198258 Principal office National BMX Centre Wales Rivèrside Park Llanrurnney Cardiff CF3 4JL Thè trustees Mr G Jones Mr H Gopplng Mr S Johnston Mrw Soffe (Appointed 15 March 20221 (Appointed 15 March 20221 (Appointed 15 March 20221 (Appointed 15 March 20221 Audhtor Midway House Slaverton Technology Park Herrick W8y, Staverton Cheltenharn, Glos. GL51 6TQ Structure. govemance and manag8mant The Charity's governing document is the Cardiff BMX Racing Club Conslilulion which was registered with the Charity Commission on 15th March 2022. The Chaiity maintains accounting records and reconciles the bank for the Charitable Incorporated Oiganisation. The Charity Commi5510n self-assessmenl checklisl is used on an annual basis lo evalu816 the charity's p8rformance. The ¢haiily also assesses its purpose. mission and values against the Charity Commission's 'hallmarks' of a good charity. The Trustees oversee the management of the eharity, with the day to day running and administration of the Club delegated to the Club committee. The charity adopts a policy in respect of ieasonable expenses in relation lo duties carried out by the Trustees and others IN respe¢t of Trust affairs. An annual financial review meeting is held, where the aeeounts and annual report are discussed. The charity also reassesses ils purpose and achievements Sach year al that meeting.
CARDIFF BMX RACING CLUB Trustees. Annual Report (coftltnuedl Period from 15 March 2022 to 31 December 2022 Oblectlves actlvities The Charity's Constilulion, incorporated 15th March 2022 sets the objects as being "the promotion of mmunily participation in healthy recreation foi the benefit of the inhabiianls of South Wales by the provision of facilities lo participate in BMX Racing and Cycling. Activities of the ¢harity during 2022 centred around the build of the new facility, with construction slailing on sile in March 2022. Consltuction continued throkjghoul 2022 and was due for complelion in 2023. ASongside the facility build, aclwilie5 focussed on bullding up the mernbèrship and encouraging participan18 to gel involved with BMX Racing. Achievements and performance The Charily rernained rèlatively inactive during 2022 whilst the club wailed for the conslrucuon ol the new facility- The National BMX Centre Wales. Financial rèview These accounts include a full year's activity as al 31 sl Decembei 2022, with a surplus of £1.477,744 arter all trading activities and donations received. The charity had assets of £1,481,542 and liabilities 01 £3,798 at the balance sheet dale. Plans for future periods Thè track is due for completion in the Summer of 2023 and until that lime, club activity will rernain minimal. Once the Ir8ck is open the ¢lub plans lo offer open and coached sessions lo the local community and to offer competitive racing at clublregionallnationallinternalional level as soon as is praetical. Trustees. responsibilitie5 Statement The Iiustees are responsible for preparing the 1ru51oes' report and th6 financial slalements in accordance wllh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Acceptèd Accounting Practice). The law applicable to charities in England and Wales requires the eharily Iruslees to prepare financial slalements foi eaoh year which give a true and fair view of Ihe stale of affairs of the charily and of the incoming resour$ and application of rèsources, of the charity for that period. In preparing these financial slalernènts, the Iruslees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the applicable Charities SORP., make judgments and accounting eslimales that are reasonable and prudont., prepare the financial statements on the going concern b88is unless il is inappropriate lo presume that the charity wi51 continuè in business.
CARDIFF BMX RACING CLUB Trustees. Annual Report Iconiinuodj Period from 15 March 2022 to 31 December 2022 The trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the ch3rity and enable Ihern lo ensure that Ihe financial slalemenls comply with the Charities Act 2011, the applicable Charities (Accounts gnd Reports) Regulalions, and the provisions of the Trust Deed. They are also iesponsible for safeguarding the assets of the charity and hence for taking reasOn8ble steps lor the prevention and delection ol fraud and other irregularitiès. The trustees. annual repc>rt was approved on 14 O¢ltsber 2024 and signed on behalf of the board of trustees by.. Mr H Copping Trustee
CARDIFF BMX RACING CLUB Independent Auditor's Report to the Members of CARDIFF BMX RACING CLUB Period from 15 March 2022 to 31 December 2022 Opinion We have audited Ihe financial statements of CARDIFF BMX RACING CLUB Ilhe 'charity'l lor the period ended 31 Dember 2022 which comprise the slatemenl of financial aclivilies, 51alement of rinancial position, slalemenl of cash flows and the related notes, including 8 Summary of signilicanl accounting policies. The financial reporting framework that has been applied in IhÈir preparation 15 applicab law and United Kingdom Accounting Standards, including FRS 102 The Finaricial Reporiing Standard applicabl8 in the UK and Republic of Ireland (United Kingdom Generally ACpIed A¢counting Praclicel. In our opinion the financial slalements.. give a true and fair view of the slate of Ihe chaTIIy'5 affairs as al 31 December 2022 and of Ils incoming resources and application of resources, including its income and expenditure, for the period then ended., have been properly prepared in accordance with United Kingdom General Accepted Accounting Praclice.. have been prepared in accordan with the requiraments of the Ch8rilies Act 2011. Basis for oplnlon We Conducted our audit in accordance wilh Inlernalional Standards on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under those slandaids 8re further described in the audilorfs responsibilities for the audit of the finanaal slaletnenls seclion of our 18port. We are independent of Ihe charity in accoidance with the elhieal requirements Ihal are relevant to our audit of the financial slalgmenls in the UK. including the FRC'S Ethical Sland8rd, and we have fulfllled our othei ethical responsibilitie5 in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions rèlatlng to going concern In audhlng the financial st8léments. we have concluded that the trustees, use of the going concem basis of accounting in Ihe pieparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to evenls or condllions that. individually or collectively, may cast significant doubl on the charity's ability lo ¢ontinue as a going concern foi a period of al least Iwelve months from when the fin8n¢ial stslÈments are aulhorised for issue. Our responsibilities and the responsibililies of the Iruslees with respect lo going concern are described in the relevanl sections of this report.
CARDIFF BMX RACING CLUB Independent Auditor's Report to the Members of CARDIFF BMX RACING CLUB Iconlinuedl Period from 15 March 2022 to 31 December 2022 Other information The other infomiation comprises the information included in the annual report. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinitsn on Ihe financial statemenls does not cover the other information and. excepl to the extent otherwise explieilly stated in our report, we do not express any form of assurance condusion thereon. In conne¢tion with our audit of the financial slalernenls, our responsibility is lo read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial slalernents or our knowledge obtained in the audit 01 otherwise appears to be tnateria11y misstated. 11 we identify such material inconsistencies or apparent material misstatements, we are requiied lo determine whether there is a material rniss18lement in the financial statements or a material misslalernent of the other information. 11, based on the work we have performed. we con¢lud8 Ihal there is a material misstatemenl of this other information. we are requirod lo report thal fact. We have nothing lo report in this regard. matte on which w• ar8 required to repori by exception In the light of the knowledge and understanding ol the charity and its environrnenl obtained in the course of the audit, we have not identified material rnisslalemenls in the trustees, report. We have nothing to report in respect of the following mallers in relation lo which the Charities Act 2011 requires us lo report to you il, In our opinion.. the information given in the Iruslees. report is inconsislant in any maleiial respèct with the financial slalemgnls., or adequate accounting records have not been kept,. or the financial statements are not in agreement wilh the accounting records and returns., or we have ntst received all the infoimalion and explanations we require for our audit. Responsibilitiès of trustees A5 expl8ined more fulSy in the Iruslees. responsibilities statement, the Iruslees are responsible for th8 preparation of the financial slalemenls and lor being $8lisfied that they give a Iiue and fair view. and for such inleinal cc>ntrol as the Iruslees determine is nece558ry to enable the preparation of financial statements that are free from material misslalement, whether due lo fraud or error. In preparing the financial staternenls, the Iruslees are responsible lor assessing the charity's abilily to ¢onlinue as a going ¢oncern. disclosing, as applicable, mallers related to going concern and using the going concem basis of accounting unless the Iruslee5 either intend to liquidate thè charity or lo cease operations, or have no realistic atternalivè but lo do so.
CARDIFF BMX RACING CLUB Independent Auditor's Report to the Members of CARDIFF BMX RACING CLUB l¢onflJJuerll Period from 15 March 2022 to 3q December 2022 Atjdltor's responsÉbilitles for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the linanaal statements as a whole ale free from material misslaternenl, whether due to fiaud or error, and lo issue an audilor's report that includes our opinion. Reasonable assuranoe is a high level of assurance, but is llol a guaranlee that an audit conducted in acrdanCe with ISAS IUKI will always deleel a material misstatement when il exists. Misslalements can arise from fraud or eiior and are considered tnaterial if, individually or in the aggregale. they could ièasc>nably be expected to influence the economic decisions of users taken on the basis of thése financial slalements. Irregulaiilies, including fraud, are instances ol non-c0rnplian with laws and regulations. We design procedures In line with our iesponsibilities. outlined above, lo delecl material misstalernents in respect of Irregularities, including fraud. The extent lo which our procedures are capable of dele¢ting irrularItieS. including fraud is detailed below.. Our approach was as follows.. We obtained an understanding of the legal and iegulalory requirernen15 applicable lo the company 8nd considered the most significant are the Companies Act 2006 and UK Financial reporting Standards. Wè obtained an understanding of how the company Complies with these regulations by discussions with management. We assessed the rfsk of material mlsstalemenl of th8 financial slalements, including the risk of rnaleiial missslalemenl duè to fraud and how it mighl CUr, by holding discusslons with management. W8 inquired of management as lo any known instances of non-compliance or suspected non-compliance with laws and regulations. Based on Ihis understanding, we designed specifi¢ audit procedures to identify instances of non-compliance with laws and UlatiOns. This included making enquirie5 of management and obtaining corroborative evidence as required. As part of an audit in accordance with ISAS (UK), we exer¢lsè professional judgment and maintain professional sceplicism throughout the audit. We also.. Idenlfy and assess the risks of material mlsslalemenl of the financial slalernenls, whether due lo fraud or error, design arKI perform audit procedures responsive lo those risks, and obtain audil evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of nol deleeting a materi81 misstatement resulting from fiaud is higher than for one rèsulting from eiror, as fraud may involve collusion, forgery, intentional omissions, m15representalions, or the override of internal control. Obtain an underslanding of internal control relevant to the audit in order lo d¢sign audit procedures that are appropriate in the circumslan¢es, bul not for the purpose of exp185sing an opinion on Ihe effectivaness of the internal conlrol. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting esllmales and related disclosures made by the trustees.
CARDIFF BMX RACING CLUB Independent Auditor's Report to the Members of CARDIFF BMX RACING CLUB (continued) Period from 15 March 2022 to 31 December 2022 Conclude on the approprialeness of the tiuslees. use of the goirig concern basis of accounting and, based on the audil evidence oblained, whether a material uncertainty exists related lo events or conditions that may cast significant doubl on the ¢harily'$ ability lo continue as a golng concern. 11 we conclude that a mateiial uncertainly exisls, we ale required to draw allention in our aLJditor's report to the related disclosures in the financial stalements or, il such disclosures are inadequate, lo modify our opinion. Our con¢lusions are based on the audit evidence obtained up to the date of oui auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation. structure and content of the financial slatemenls, including the disclosures, and whether the financial statements represent the underlying transactions and events in a mallner that achieves fair presentation. We communicate wllh those charg$d wllh governance regarding, among olher malters, the planned scope and liming of the audit and significant audit findings, induding any significant deficiencies in inlernal control that we identify during our audit. Use of our report This report is made solely lo the ¢harity's members. as a body, in accordance wlh section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's rnembers those matters we are required lo stale lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibilily lo anyone olhei than the charity and the charity's rn8tnbers as a body, for our audit work, for this report, or for the opinions we have formed. James grper (Senior Statutory Auditor) For and on behalf of Haiper Sheldon Limited Chartered accounlanls & 51alulory auditor Midway House Slaverton Technology Park Heiiick Way, Slaverton Cheltenham, Glos. GL51 eTQ 14 Oc124
CARDIFF BMX RACING CLUB statement of Financial Activities Period from 15 March 2022 to 31 December 2022 Period from IS Mar 22 to 31 Dec 22 UreStrted funds Total funds Note Income and endowmènts Donations and le9acies Charitable aelivities 1,637,741 251 1.637,741 251 Total in¢orne 1.637,992 1,637,992 Expenditure Expenditure on raising funds.. Gosls of other Iiading aelivibes Expenditure on chariiable activities Total expenditure 568 159,680 568 159,680 160.248 160,248 Not Income and ngt movement in funds 1.477,744 1,477.744 Reconclllation of funds Tolal funds broL)ght forward Total funds carried forward 1,477,744 1,477,744 The statement of financial activities Includes all gains and losses recognigèd in the year. All In¢ome and expenditure derive from continuing activili8s. The notes on pages 11 to 1Y form part of these finantlal statement5.
CARDIFF BMX RACING CLUB Statement of Financial Position 31 December 2022 31 De¢ 22 Note Fixed assets Tangible fixed assets 12 1.247,342 Current assets Debtors Cash al bank and in hand 13 146,192 88.008 234,200 Creditors- amounts falling due within one year Nèt current assèts 14 3,798 230,402 Total assets less current liabilitl&s 1,477.744 1,477,744 Net assets Funds of the charity Unreslricled funds 1,477,744 Total charity funds 15 1,477,744 These financAal slalèments were approved by the board of tiuslees and aulhorlsed for issue on 14 Oct 24, and are signed on beha510l the board by.. Mr H Gopping Trustee The note5 on pages 11 to 17 forrn part of these flnan¢lal statements.
CARDIFF BMX RACING CLUB statement of Cash Flows Period from 15 March 2022 to 31 December 2022 31 Dec 22 Cash flows from operatlnu activities Net incorne 1,477,744 Adjustments for." Accrued expenses 3,798 Changes in.. Trade and other debtors 1146,1921 1,335,350 Cash generated from operations Net cash from operating aolivilies 1.335.350 Cash flows from investing activities Purchase of tangible assets Nel cash used in invtrsling aclniili&s 11,247,342) 11,247,342) Net increase In cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 88.008 88.008 The notes on page5 11 to 17 form part of th8s8 flnanclal stat8m8nts. io
CARDIFF BMX RACING CLUB Notes to the Financial Statements Period from 15 March 2022 to 31 December 2022 General information The charity is a public benefit enlily and 3 registered charily in England and Wales and is unincorporated. The address of the piincipal office is National BMX Centre Wales, Riverside Park, Llanrumney, Cardiff, CF3 4JL. Wales. Statement of complianc8 These financial statements have been prepared in compliance with FRS 102, 'The Finanaal Reporting Standard applicable in the UK and the Republic of Ireland,, the Slalem6nl of Reoommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of prèparation The financial statemellls have been prepared on the hisloiical ¢osl basis. as modified by the revaluation of certain financial assèts and liabilities and investment properiies measured al fair value through income or expenditure. The financial statements are prepared in sterling, which is the tunctlonal currency of the enlily. Going concern There are no rnalerial uncertainties about the ¢harily's abilily to continue. Judgements and kèy sources of estimatlon uncèrtalnty The piep8ralion of Ihe finanal slalements requires rnanag&menl to make judgements, estimates and assumpbons that affect the amounts reported. These estimates and judgements are continually ieviewed and are based on experience and other facloTS. including expectations of future events that are believed lo be reasonable under the ¢ir¢umstances. Fund accounting unrestrted funds are available foi use al the discretion of the Irusl8ès to further any of the charily's purposes. Designated funds ar6 unrestricted funds earmarked by the trustees for particular future project or commitment. Reslricled funds are subjected lo ieslriclions on their expenditure de¢lar8d by the donor or through Ihe terms of an appéal, and fall into one of two sub-classes.. reslricled income ILJnds or endowtnenl funds. 11
CARDIFF BMX RACING CLUB Notes to the Financial Ststements IGOntlnuetll Period from 15 March 2022 to 31 December 2022 A¢counting policiès Iconflrtuod) Incoming resources All incoming resources are included in the statement of financial aclivities when entillemenl has passed to the charity., il is probable that the èeonomic benefits associated with the transaction will fiow to the charity and the amount can be ieliably measured. The following spe¢llic policies are applied lo particular categories of income.. in¢ome from donations or grants is recognised when there is eviden¢e of enlillemenl lo the gift, receipt is probable and its arnounl can be measured raliably. legacy income is recognised when receipt is probable and entitlement 1$ Éstablished. income from donated goods is measured at the fair valLJe of the goods unless this is impractical lo measure reliably, in which case the value is deiived from the cost to the donor or the estimatèd resale value. Donated f8¢ililies and services are recognised in Ihe a¢UnIS when received il the value can be reliabty measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is re¢ognised with thé delivery of the contracted service. This is dassified as unrestricted funds unless Iheie 15 a contractual requirement for il lo be spent on a particular purpose and returned if unspent, in which case It may be regarded 85 restricted. Resourcès expended Expenditure is recognised on an ao¢ruals basis as 8 liabilily is incurred. Expenditure inclLJdes any VAT which cannot be ILJlly recovered, and is classified under headings ol the stalement of financial acliwlies to which il relates.. expenditure on iaising funds indudes the costs of all fundralsing aclivilies, events. non-charilable trading activities. and the sale of donated goods. expenditLJre on chaiilable activities includes all cost$ incLJrred by a ¢harily in undertaking activities that further its charitable aims for the benefit of ils beneficiaries, ineluding those support costs and costs relating lo the governance of the chaiily apportioned lo charitable activities. other expendiluie includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on chaiit8ble activities. All costs are allocated lo expendilure categories refctIng the use of thé resource. DiTecl costs attributable lo ¥ single activity aro allocated directly to that activity. Shared costs are apportioned btrtween the aclivilies they conliibule to on a reason8ble. justifiable and consislenl basis. Tanglble assets Tangible assets are initially recorded al eosl. and subsequently slal8d al cost less any accumulated depreciation and impaiiment losses. Any tangible assets carried al revalued amoLJnts are recorded al the lair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 12
CARDIFF BMX RACING CLUB Notes to the Financial Statements (¢Olll1nd} Period from 15 March 2022 to 31 December 2022 Accounting policlè$ l¢on11fr7ued) Tangible ass•ts {contiyJued) An increase in the carrying amount of an assal as a result of a revaluation, is recognised in other iecogni5ed gains and losses. unless il reveises a chaige for impairment Ihal has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a iesull of revaluation, is recognised in olher recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the slalemenl of financial aclivilie8. Impaimient of flxed assets A ieview for indicalors of irnpaiiment is cairigd out al each reporting date. with the recoverable amount being eslimaled where such indicators exist. INhere the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior Impairments are also reviewed for possible reversal al each reporting dale. For the purposes of impairmÉnt testing, when il is not p055ible lo eslimal8 the recoverable amount of an indiwdual asset, an estimate is made of the recoverable amount of the cash-generating unit lo which the asset belongs. The cash-generaling unit is the smallest identifiable group of assets Ihal includes the assel and geneiales cash inflows Ihat largely independent of the cash inflows fr(>m other assets or groups of assets. For impairment lesling of goodwill, the goodwill acquired in a business combination is. from the acquisition date, allocated lo ea¢h of the cash-generating units that are expocled lo benelil from the synergies of the combination, irrespective ol whether other assets or liabilities of the chaiity are assigned to those units. Finanelal instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the ¢onlr8clual provisions ol the inslrumenl. Basic financial instruments are Ini118lly reeognised at Ihe amount receivablg or payable induding any relaled transaction costs. Current assets and current li8bililies are subsequently measured al the cash or other consideration expected to be paid or received and not discounted. Debt inslrumenls are subsequently measured at amortised cost. Where investments In shares are publicly traded or Iheii farr value can otheiSe be measured reliably. the inveslmeril is subsequ8ntly measured at fair value with changes in fair value recognised in income and expenditure. All other such inveslments are subsequently tneasurèd al cost less Impairment. Other financial instruments, induding derivatives. are initially recogni5ed al fair value, unless payment for an asset is deferred beyond norm81 business terms or financed al a rale of interest that is Not a market rate, in which case the asset is measured at the present value of the future payments disoounled al a maikel raté of inleresl for a similar debt inslium&nt. Other financial instruments are subsequently tneasured at fair value, with any changes recognised in the slalemenl of financial activities, with the exception of hedging instruments in a deslgnated hedging relationship. 13
CARDIFF BMX RACING CLUB Note5 to the Financial Statements I¢ofrJiittu8dJ Period from 15 March 2022 to 31 December 2022 Accounting policies l¢oJ)Ilnuedl Financial instrumènts leoftfiyjued) Finana81 assets that are measured al cost or amortised cost are reviewed for objective evidence of impairment at the end ol each reporting dale. 11 the is objective evidence of impairment. an impairment loss is recognised under the appropriate heading in the statement of finan¢i81 activities in which the initial gain was recognised. For all equity instruments regardl6ss of significance, and other financial assets that ale individually significant, these ale assessed individually for irnpairmenl. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characlerisli¢s. Any reversals of impairment are recognised immedialety, to the extent that the reversal does nol result in a carrying amounl of the financial asset thal exceeds what the carrying amount would have been had the impairtnent not previously been recognised. Donations and legaei•s Unreslricled Total Funds Funds 2022 Donations Donations 429,942 429,942 Grants Grants receivabl 1.207,799 1.207,799 1,637,741 1,637,741 Charitable activities Unrestred Totsl Funds Funds 2022 Clothing sales Membership 91 160 91 160 251 251 Costs of other trading activities Unreslricled Total Fund$ Funds 2022 Costs of other trading activities- Shop costs 568 568 14
CARDIFF BMX RACING CLUB Notes to the Financial Statements {¢oRtinued) Period from 15 March 2022 to 31 December 2022 Expenditure on charitable activtties by fund type UnrÈ51ricled Total Funds Funds 2022 SLJPPOrt costs 159,680 159,680 Expenditure on charitable activities by aetivity type Total funds 2022 Support costs Activily type 1 159,680 159.680 Analysis ofsupport costs Analysis of support Costs activity 1 Total 2022 Cornmunicalions and IT Finance costs Support costs- Other costs type 1 78 1.750 157.852 78 1,750 157,852 159.680 159,680 10. Staff costs The average head count of employees during the period was Nil. No employee received employee benefits of more than £60.000 during the year12022'. Nill. 11. Trustse remuneration and expenses No Iruslee received any remuneration for Ihelr services during the period. 15
CARDIFF BMX RACING CLUB Notes to the Financial Statements l¢ontinued) Period from 15 March 2022 to 31 December 2022 12. Tangible fixed assets Long leasehdd property Equiprnenl Total Cost Al 15 March 2022 Additions 1,201,605 1.201,605 45,737 1,247,342 At 31 December 2022 45,737 1,247,342 Depreciation At 15 March 2022 and 31 December 2022 Carrying amount At 31 December 2022 1,201,605 45,737 1,247.342 13. Debtors 31 Dec 22 Piepaymenls and accrued income Other debtors 10,498 135,694 146.192 14. Cr•dltors: amounts falling due within one year 31 Dec 22 Accruals and deferred income 3,798 15. Analysls of charitable funds Unrestricted funds Al 15 March 202 At 31 Decèmber 2022 Income Expenditure General funds 1,637,992 1180,2481 1,477,744 16. Analysis of net assets heeen funds Unreslricled Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Netassets 1,247,342 234,2LKI 13,7981 1,477,744 1,247,342 234,200 {3.7981 1.477,744 16
CARDIFF BMX RACING CLUB Notes to the Financial Statements l¢oM¢lnued} Period from 15 March 2022 to 31 December 2022 17. Analysis of changes in net debt Al At 15 Mar 2022 Cash flows 31 Dec 2022 Cash at bank and in hand 88,008 88,008 17