The UK Cube Association has released a statement confirming their financial position and it appears to be very good news for the cubing community. 

The UK Cube Association is responsible for organising speedcubing competitions around the UK, many of which are sponsored by speedcubing.org.

The UK Cube Association is registered as a Community Interest Company which means that profits have to be reinvested into the community.

The UK Cube Association has confirmed that they received £226052 in registration fees and £27200 in sponsorship fees in 2024-5 (a large proportion of that being from me).

The UK Cube Association then spent £149382 directly on the running of competitions, hiring venues for cubing competitions is expensive! They also had to spend £51752 on various operation costs that are necessary for running such an organisation.

This means that they did make a significant profit which they have still had to pay corporation tax on, however, this will be reinvested into the cubing community throughout the next few years, maybe this will result in lower registration fees or something else.

The statement also confirms that the UK Cube Association has finally recovered the funds of £56281.32 which were misappropriated by former UKCA president, James Molloy. James Molloy was first caught misappropriating funds in July 2023 and has been permanently banned from competing in WCA competitions, it is good news that the UK Cube Association has managed to recover the funds.