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 De￿mber 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 AC￿pIed
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 ac￿rdanCe 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
irr￿ularItieS. 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
U￿reStr￿ted
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 finan￿al 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
unrestr￿ted 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 ref￿ctIng 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 (¢Olll1n￿d}
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 othe￿iSe 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
Unrestr￿ed 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 he￿een 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