CHARITY REGISTRATION NUMBER.. 1198258
CARDIFF BMX RACING CLUB
Unaudited Financial Statements
31 December 2023
HARPER SHELDON LIMITED
Chartered accountants
Midway House
Staverton Technology Park
Herrick Way, Staverton
Chellenham, Glos.
GL516TQ

CARDIFF BMX RACING CLUB
Financial Statements
Year ended 31 December 2023
Page
Trustees, annual report
Independent examiner's report to the trustees
Statement of financial activities
Statement of financial position
Statemenl of cash flows
Notes to the financial statements

CARDIFF BMX RACING CLUB
Trustegs, Annual Report
Year ended 31 December 2023
The Iruslees present their report and the unaudited finanaal slalements or the charity for the year
ended 31 December 2023.
Reference and administrative details
Registered Charfty name
CARDIFF BMX RACING CLUB
Charity registratlon number
1198258
Prin¢lpal offlce
National BMX Centre Walés
Riverside Park
Llaniumney
Cardiff
CF3 4JL
The trusteès
Mr G Jones
Mi H Copping
Mr S Johnston
Mrwsoffe
Independent examlner
James Harper
Midway House
Staverton Technology Park
Herri¢k Way, Staverton
Chellenharn, Glos.
GL516TQ
Structur•i governance and management
Th8 Charily's governing document is the Cardiff BMX Racing Club Constitution which was regislered
with the Charity Commission on 15th March 2022.
The Charily maintains a￿UntIng records and reconciles the bank for the Charitable Incorporated
Organisalion. The Charily Cornmission self-assessrnenl checklist is used on an annual basis to
evaluate the charity's performance. The ¢h8rity also assesses ils purpose. mission and values against
the Charily Cornmission's 'hallmarks' of a good charity. The Trustee5 Qverseè the management ol the
charity, with the day lo day iunning and adminislralion of the Club delegaled lo the Club Committee.
The charity adopts a policy in respect of reasonable expenses in relation to duties carried out by the
Trustees and others In respect of Trust affairs. An annual linanoal ieview meeting is held. where the
accounts and annual report ale discussed. The charity also reassesses its purpose and achievements
ea¢h year at that meeting.

CARDIFF BMX RACING CLUB
Trustees. Annual Report (Gonlinuedl
Year ended 31 December 2023
ObjectlVe5 and activities
The Charily's Conslilulion, incorporated 15th March 2022 sets the objecls as being the promotion of
community partiapalion in healthy recreation foi the benelil of the inhabitants ol South Wales by the
provision of facilities lo participate in BMX Racing and Cycling.
Aclivities of th8 charily during 2023 focussed on wmpleting the build of the new facility. Construction
which started in 2022 continued through to July 2023 when funds weie found lo be insufficient to
cornplele the build in lime for any summer activily. The Club liaised wilh Welsh Cycling and Sport
Wales for the remainder of 2023 to secure the additional ftjnding needed lo complete the fa￿litY.
Alongside all the challenges with the facility build, aclivities rernained focussed on bullding up the
membership and encouraging participants lo gel Involved wilh BMX Racing.
Achievèments and performance
The Charity remained relatively inactive durlng 2023 whilst thè club waited for the conslruction of the
new facility- The National BMX Centre Wales.
Financlal review
Thase accounts include a full year'8 activity as al 31 sl December 2022. with a surplus of £1.477,744
after all trading activities and donations ￿¢eIved. The charity had assets of £1,481,542 and liabilities
of £3,798 al the balance sheet 4Jal8.
Plans for fLbture period$
After all the delays with funding the Iraek is currently due for eomplelion in the Summer of 2024 and
until Ihal time, club activity will remain minimal. Once the track is open the club plans lo offer open and
coached
sessions
lo the local
community
and lo (>ffor
competitive
racing
al
dublregionallnalionallinlernalional lèvel as soon as is practical.
The Iruslees, annual report was approved on 14 October 2024 and signed on behalf of the board of
trustees by..
Mr H Copping
Trustee

CARDIFF BMX RACING CLUB
Independent Examiner's Report to the Trustees of CARDIFF BMX RACING
CLUB
Year ended 31 December 2023
I report to the Iruslees on my examinalion of the financial slalements of CARDIFF BMX RAGING
CLUB I'lhe charily'l for the year ended 31 December 2023.
Responsibilities and basis of report
As the trustees ol the chaiity you are responsible lor the pi&paration of the financial slalements in
accordance with the iequiremenls of the Charities Act 2011 {'Ihe Act'i.
I report in respect of my examinalioll of the charity's financial slalements carried out under section 145
of Ihe 2C>11 Act and in carrying out rny examination I have followed 811 the applicable Directions given
by Ihe Charity Commission under section 14515llbl of the Act.
Independent examinerfs statement
Since the charity's gross income exceeded £250,000 your examin8r must be a tnember of a body
listed in se¢lion 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination
because l am a member of the Instilule of Chartered Accountants in England and Wales IICAEW),
whith is one of the listed bodies.
I have completed my examination. I conliirn that no maleiial matters have come lo rny atttsnlion in
connection with the èxamination gNing me cause lo believe that in any material respect..
accounling records were not kept in resped of the Charity as requirod by section 130 of the
Act.. or
the financial slalemenls do not accord wilh those records., or
the financial $181ements do not comply with thè applicable requirements Con￿rning the
foitn and colltenl of accounts sel out in the Charities (Accounts and Reports) Regulations
2008 other than any requirement that the accounts give a 'lrue and fairf vi8w which is not a
matler consbdered as part of an independent 8xaminalion.
I have no concems and have como across no othèr matters in conneclion with the examination to
which attention should bè drawn in this report in order to enable a proper understanding ol the
accounts lo be reached.
Jarnes H
rper
Independent Examiner
Midway House
Slaverton Technology Park
Herrick Way, Staverton
Ghellenham, Glos.
GL516TQ

CARDIFF BMX RACING CLUB
Statement of Financial Activities
Year ended 31 December 2023
Period from
15 Mar22 10
31 Dec 22
Year to 31 Dèc 23
Unreslricled
funds Total funds Total funds
Note
Income and endowments
Donations and lega￿e5
Charitable aetivilies
856.735
8,769
865,504
856,735
8,769
865,504
1,637,741
251
Total incomè
1.637,992
Expanditure
Exp&nditure on raising funds..
Gosls ol othei Iiadlng activities
Expenditure on chariiable activities
Total expenditurè
4,989
117,944
4,989
117,944
159,680
122,933
122,933
160.248
Nèt Income and nèt movement in funds
742.571
742,571
1,477,744
Recon¢lllatlon of funds
Total funds brought forward
Total funds carrled forward
1,477,744
2.220,315
1,477.744
2,220,315
1,477.744
The statement of financial aclwilies includes all gains and losses recogniséd in the year.
All income and expenditure derive from continuing activities.
The notes on pages 7 to 13 form part of these flnanclal statgrnents.

CARDIFF BMX RACING CLUB
Statement of Financial Position
31 December 2023
2023
2022
Nole
Fixed assets
Tangible fixed assets
12 2,060,665
1,247,342
Current assets
Stocks
Debtors
Cash al bank and in hand
13
14
8,948
150,486
12,264
148.192
88.008
171,698
234.200
Creditors.. amounts falling due within one year
Net current assets
15
12,048
3.798
159,650
230.402
Total assets less current liabllltl•s
2,220,315
2,220,315
1,477,744
Net assets
1,477,744
Fund$ of thè charlty
Unrestricted funds
2.220,315
1,477,744
Total charity funds
16 2.220,315
1,477,744
These financial slalemenls were approved by the board of trustees and aulhorised for Issue on 14 Oct
24. and are signed on behalf of the board by..
Mr H Copping
Trustee
The notes on page5 7 to 13 form part of these flnanclal statements.

CARDIFF BMX RACING CLUB
statement of Cash Flows
Year ended 31 December 2023
2023
2022
Cash flows from operating activities
Nel income
742,571
1,477,744
Acljustmenls for.
Accrued expenses
8,250
3,798
Chang&s in.-
Stocks
Trade and other debtors
18.9481
14,2941
737,579
1146,1921
1,335.350
Cash generated from operations
Nel cash from operating activities
737,579
1,335,350
Cash flows from investlng activities
Purchase of tangible assets
Nèt cash used in investing activilies
1813,3231 11,247,342)
{813,3231 11,247,342}
Net Idecreasellincrease in cash and cash equlvalents
Cash and cash equivalents at beginnlng of year
Cash and cash equivalents at end of yèar
175,7441
88,008
88.008
12,264
88,008
Tho notes on pages 7 to 13 form part of these flnancial ststements.

CARDIFF BMX RACING CLUB
Notes to the Financlal Statements
Year ended 31 December 2023
Gèneral information
The charity Is a public benefit entity and a registered chaiily in England and Wales and is
unincorporated. The address of the principal office is Nalional BMX Centre Wales, Riverside
Park. Llanrumney, Cardiff. CF3 4JL. Wales.
statèment of compllance
These finan¢ial siatemenls hav8 been prepared in compliance with FRS 102. 'The Finanaal
Reporting Standard applicable in the UK and the Republic of Ireland,. the Slalernenl of
Recotnmended Practico applicable lo charitiès preparing their accounts in 8ccordance with the
Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 Icharities
SORP IFRS 10211 and the Charities A¢1 2011.
Accounting policies
Basis of preparation
The financial slalemenls have been prepared on the histori¢al cosl basis. as modified by the
revaluation of certain financial assets and liabilities and investment properties measLJred al fair
value Ihrough income or expenditure.
The finan¢ial statements are prepared in slerllng, which is the functional currency ol the enlily.
Going Concern
There are no m8lerial uncertainties aboul the chaiily's abilily to continue.
Judgements and key sources of estlmation uncertalnty
The prep8ralion of the financial statements requires managèment lo mak8 judgements,
estimates and assumption5 that affect the amoun15 reported. These estimates and judgements
are continually revEwed and are based on expeiien¢e and other factors, including exp8Ctations
ol fuluie events that ar& believed lo be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use al the di5eretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for pariicular fulure project or
ommitmenl.
Restricted funds are subjected lo restrictions on their expenditur8 declared by thè donor or
through the terms of an appeal, and fall into one ol two sub-classes.. reslii¢led income funds or
endowment funds.

CARDIFF BMX RACING CLUB
Notes to the Financial Ststements (Gontinuodl
Year ended 31 December 2023
Accounting poliGie$ IconliRued}
Incoming resourees
All incoming resources ale in¢lLJded in the slalement of financial activities when enlillement has
passed lo the charity., il is probable that the economic benefits assodaled with the Iransaetion
will flow to the chaiily and the amount ean be reliably measured. The following specific policie8
are applied lo particular categories of incorne..
income from donations or grants is iecognised when there is evidence of entitlement to the
gift, receipt is probable and ils amount can be tneasured reliably.
legacy Income is recognIs￿ when receipt is probable and enlillement is established.
income from donated goods is measured al thè fair value of the goods unless this is
impraclical lo measure reliably, in which case the value is derived Iiorn the cost to the donor
or the eslirnaled resale value. Donated facilities and services are recognised in the
accounts when received If the value can be reliably measured. No amounts are included for
the conlribLJlion of general volunteers.
income from contracts for the supply of services is recognised W￿th the delivery of the
contracted service. This is classified as unreslrlcted funds unless there is a conliadual
requirement lor il lo be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resourcès expended
Expendilure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fLJlly recovered, and is classified under headings of IhÉ statement of
financial activities to which il relates..
expenditure on raising fLJnds includes the cosls of all fundraising aclivilies, events.
non-charilable trading aclivili8s, and the sale of donated goods.
expenditure on charilablo activities includes 311 costs incuired by a charity in undertaking
activities that ILJrther ils chaiilable aims for the benefit of its beneliaaries, including those
support costs and costs relating lo the governance of the charity apportioned to chariiable
activities.
other expenditure includes all expenditure that is neither relalad tts raising funds for the
charity nor part of ils expenditure on charitable activities.
All costs are allocated lo expèndilure categories reflecting the use of the resoui¢e. Direcl costs
attributable lo a single aclivily are alloeated directly lo th81 aclivity. Shared eosts are apportioned
between the activities they contribute lo on a reasonable. jusliliable and conslstent basis.
Tanglble assets
Tangible assets are initially recorded at oosl, and subsequently stated al cost less any
accumulated depreciation and impairment losses. Any tangible assets cairied at revalued
amounts are re¢orded at the fair value al the dale of revaluation less any subsequent
accumulated depreci81ion and subsequent accumulated imp8irment losses.

CARDIFF BMX RACING CLUB
Notes to the Financial Statements Icontlnuedj
Year ended 31 December 2023
Accounting policies l¢ontlfrJuedl
Tangible assets l¢oniinued)
An increase in the earrying amount of an asset a5 a result ol a revaluation, is recognised in other
recognised gains and losses, unless it reverses a chaige for impairment that has previously been
recognised as expenditure within the slalemenl of financial aGlivilies. A decrease in the carrying
amount of an asset as a result of rèvalualion, is re¢ognised in other recognised gains end losses.
except to which il offsots any previous revaluation gain. in which case the loss is shown within
other recognised gains and losses on the slalement of financial a¢tivibes.
Impairment of fixed assets
A review for indicators of impairment is carried out al each reportirig dale, with the recoverable
amount being eslitnaled where such indicators exist. lthere the carrying value exceeds the
recoverable amount, the asset is impaiTed accordingly. Prior Impairments are also reviewed for
possible reversal al each reporting dale.
For the purposes of impairmènt testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable atnounl ol the
cash-generaling unil lo which the asset belongs. The ¢ash-generaling unit is the smallest
Kjenliliable grokjp ol assets that includes the asset and generates cash inflows that largely
independent of th8 cash inflows from other assets or groups of assets.
For impaiimènt lesling of goodwill, the goodwill acquired in a business combination is, from the
acquisition dale. allocated lo each of the ca5h-generating units that are expected lo benefit from
the synergies of the ¢ombination, iriÈspeclive ol whether other asse15 or liabilities of the ¢harity
are assigned to those units.
Stocks
Stocks are measured al the lower ol cost and estimated selling price less cos15 to complele and
se51. Cost includes 811 cosls of purchase, costs ol conversion and olhei costs incurred in bringing
the slo¢k to its present localion and condition.
Flnanclal instrurnents
A financial asset or a financial liability is recognised only when the charity becomes a party to Ihe
conlraetual provisions of the inslrumenl.
Basic financial instruments are inbtially recognised al the amount iecèivable or payable including
any related transaction costs.
Currenl assets and current liabilities are subsequently measured Bl Ihe cash or other
consideration expeded to be paid or received and not diSCOLJnled.
Debt inslrumenls are subsequently measured al amortlsed cost.
Where investments in shares are publicty traded or their fail value can olhetWi50 be measured
reliably, the investment is subsequently measured at lair value with changes in fair value
récognised in income and expendilLJre. All othei such inveslmenls are subsequently measured al
cost less impairment.

CARDIFF BMX RACING CLUB
Notes to the Financial Statements {¢ontlnu8
Year ended 31 December 2023
Accounting policies l¢onflnu6d)
Financial instruments Icontlnued)
Other financial instruments. including derivatives. are initially recognised al lair value. unless
payment foi an asset is deferred beyond normal business terms or financed al a rale of interest
that is not a market rate, in which case the asset is measured al the piesent value of the future
payments discounted at a market rale of interest for a similar debl instrument.
Other financial instruments are subsequenlly measured al fail value, with any changes
recognised in the statemenl of financial 8clivilies, with the exception of hedging instruments in a
designated hedging relationship.
Financial as5els that are measured al cost 01 atnortised eosl are reviewed foi objective evidènee
of impairment al the ond ol each reporting dale. If therè is objective evidence of impaiirnenl, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognlsed.
For 811 equity inslrumenls regardless of significance. and other linancial assels Ihal are
individually significant. these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis ol Similar eredit risk characlerislics.
Any reversals of impairmenl are recognised immediately, to Ihe exlenl that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had Ihe impairment not previously been recoonised.
Donations and legaci8s
Unieslricled Total Funds Unrestricted Total FLJnds
Fund8
2023
Funds
2022
Donations
Donations
200
200
429.942
429,942
Grants
Grants recewable
844,868
844,868
1,207,799
1,207.799
Sponsorship
Sponsorship
11,667
11,667
856.735
856.735
1.637.741
fj,637.741
Charitablè activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Clothing sales
Membership
Rent of office space
1,564
205
7,000
1,564
205
7,000
8,769
91
160
91
160
8,769
251
251
10

CARDIFF BMX RACING CLUB
Notes to the Financial Statements (CORtinued)
Year ended 31 December 2023
Costs of other trading activitie5
Unreslricled Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Costs of other trading activities- Shop
costs
4,989
4,989
568
568
Expenditure on charitable activities by fund type
Unreslricled fotsl Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Support costs
117.944
117,944
159,680
159,680
Expendlture on charitable activitie5 by activity type
Total funds
2023
Total fund
2022
Support costs
Activity type 1
117.944
117.944
159,680
Analysis of support costs
Analysis ol
support costs
aclivily 1 Total 2023 Total 2022
Communications and IT
Finance costs
Support cosls- Other costs lype 1
198
495
135,011
196
495
135,011
78
1,750
157,852
159,680
135,704
135,704
10. Staff costs
The average head count of employees during the year was Nil12022.' Nill.
No employee received ernployee benefits of more than £60,OOQ during the year12022'. NILI.
11. Trustee remunèration and exp&ns•s
No Iruslee received any remuneration for their services during the period.

CARDIFF BMX RACING CLUB
Notes to the Financial Statements IcontiRuedJ
Year ended 31 December 2023
12. Tangible fixed assets
Long
l&asehold
property Equipment
Total
Cost
Al 1 January 2023
Additions
1,201,605
811,760
45,737
1.563
1,247.342
813,323
At 31 Decembèr 2023
2.013,385
47.300
2,060.665
Depreciation
At 1 January 2023 and 31 December 2023
Carrying amount
At 31 December 2023
2,013,365
47,300
2,060.665
Al 31 December 2022
1.201,605
45.737
1,247.342
13. Stocks
2023
2022
Raw materials and consumables
8,948
14. Debtors
2023
2022
Pi8paymenl$ and a¢cru8d incom&
Other debtors
10,498
135.694
150,486
150,48fj
146,192
15. CredÈtors: amounts falling due within one year
2023
2022
Accrua15 and defer￿d inwme
12,048
3,796
12

CARDIFF BMX RACING CLUB
Notes to the Financial Statements (conllmuedl
Year ended 31 December 2023
16. Analysis of charitablè funds
Unrestricted funds
Al
l January 202
At
31 Decernber
2023
Income Expenditure
General funds
1,477.744
865,504
1122,9331 2,220,315
Al
15 March 202
Al
310ecember
2022
Income Expenditure
General funds
1,637.992
1160,2481 1.477,744
17. Analysls of not ass•ts bètween fund5
Unrestricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Crédilois less than 1 year
Net assets
2,042,905
171,698
{12,0481
2,202,555
2,042,905
171.698
112,0481
2,202,555
Unresliicled Total Funds
Funds
2022
Tangible fixed assets
Current assets
Credilors less than 1 year
Nat assets
1,247.342
234,200
13,7981
1.477,744
1.247,342
234,200
{3.7981
1.477,744
18. Analysis of changes in net debt
At
At 1 Jan 2023 Cash flows 310ec 2023
Cash at bank and in hand
88,008
{75,7441
12.264
13