For the CFT it has to be done in between 1:55 and 2:00, so it is a squadded march. There is a difference between an Infantry CFT and an All-arms CFT in the weight carried, I believe it is 25kg for infantry and goes down from there to 15kg at a minimum.
The BFT (also referred to a BPFA (basic physical fitness assessment)) is the 1.5mile, push-up, sit-up assessment. The 1.5 miler is actually 2.0 miles. The first half mile is run squadded in 5 minutes with the pace set by a PTI, this is the warm up. At the release point it become best individual effort. I am not 100% sure of the times by ages, but 35 to 39 was 11:30, and 30 to 34 was 11:00. There is a chart here, http://www.arrse.co.uk/health-fitness/54385-standards-military-fitness-4.html#post1779548 that looks around right for when I last did it (2007). The push-ups and sit-ups from that time were:
Press Ups
Number of press ups to be achieved in 2 minutes.
Age
Under 30 - Male 44 - Female 21
30-34 - Male 41 - Female 19
35-39 -Male 39 - Female 16
40-44 - Male 35 - Female 15
Sit Ups
Number of sit ups to be achieved in 2 minutes
Age
Under 30 - Male & Female 50
30-34 - Male & Female 46
35-39 - Male & Female 43
40-44 - Male & Female 37
The requirements were a member had to pass two BFTs per year and one CFT. I believe the BFTs could be conducted with very little notice (24 hours), I'm not sure of the surprise factor for CFTs. The unit I was at usually offered around 3 weeks of twice weekly marches to work up to it.
Edit to add this link (a PT guide for potential Sandhurst pers with their minimums on page 5): http://www.army.mod.uk/documents/general/ptbooklet.pdf
