UKCA Financial Transparency Statement 2025

Written By Oliver Wheat

Dear UKCA Community,

This financial transparency statement accompanies the official year-end accounts for the UK Cube Association CIC (Company Number 14933825) for year ended June 30th 2025. These accounts, which are publicly available on Companies House, detail the financial activities of the UKCA CIC during our second year of trading as a registered company. This statement aims to provide a brief summary of how the UKCA conducted its business.

Income (£227,170):

  • Registration Income (£198,290): This is predominantly from registration fees for our competitions. Down from £226,052 last period.

  • Sponsorship Income (£28,880): This includes all sponsorship payments from our competition sponsors.

Expenses (£234,208):

  • Direct Costs of Competitions (£225,051): This includes the costs directly related to running our events, such as:

    • Venue hire (£122,340)

    • Equipment hire

    • Medals/Trophies

    • Delegate travel, accommodation, and lunch expenses in line with our defined policy

    • WCA Dues

  • Operational Costs (£9,157): These are the costs of running the UKCA behind the scenes, such as:

    • Equipment purchases and depreciation of assets (such as batteries, timers, printers, and laptops)

    • Storage fees

    • Insurance

    • Stationery

    • Accountancy and legal fees

  • Corporation Tax (£0): Since we had no surplus this year, we did not have to pay any corporation tax.

After deducting all expenses, the UKCA CIC had a deficit of £7,038 (-3%) for the financial year. This is primarily caused by the reduction in registration income, while costs are constantly increasing due to inflation. However, the UKCA has no intention of increasing our registration fees, which we have kept consistent since the start of 2023.

Despite making a loss, we believe we are still in a strong financial position. At the start of 2025, we overhauled the competition approval process, and the UKCA Directors now have far more oversight over our competition budgets. We have already seen a noticeable impact on our budgeting and are confident that this will drive change going into 2026. While this has made a minority of our repeat venues no longer financially viable, we have critically reduced the number of competitions that have operated at a loss over the past year. The UKCA is still willing to host competitions that we know will make small losses in areas that are under-served, in line with our goal to reach every corner of the country with our competitions.

In addition to this, we have recently implemented changes to our expenses policy, putting stricter limitations on how much Delegates can claim for, without impacting the operational needs of our competitions. Our competitions simply wouldn’t be possible without the team of Delegates giving up their weekends, which they do voluntarily, so I would like to extend my thanks to the whole team.

The UKCA CIC and our accountants are currently preparing our accounts for year ended June 2026. We are hoping that the more stringent processes we have implemented will lead to a stronger year than last.

Oliver Wheat - UKCA President

on behalf of the UKCA Directors

Oliver Wheat
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