The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors on 27 April 2017and were signed on its behalf by:
N B Roberts- Director
The notes form part of these abbreviated accounts
RUN 4 WALES LTD. (REGISTERED NUMBER: 08057072)
Notes to the Abbreviated Accounts
for the Year Ended 31 October 2016
The financial statements have been prepared under the historical cost convention and in accordance with the Financial
Reporting Standard for Smaller Entities (effective January 2015).
Turnover represents net invoiced sales of services, excluding value added tax.
Turnover represents event income, grants and proceeds of fund raising activities, net of VAT.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Grants are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over
the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the
related expenditure is incurred.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year, Run 4 Wales Ltd purchased services to the value of £79,127 (2015: £63,523) from Welsh Athletics Ltd. At
the year end, the balance outstanding to Welsh Athletics Limited was £Nil (2015: £17,080).
The above transaction is related as Welsh Athletics Limited is a corporate director of the company.