What does the cryptic crossword clue "Climbing records cycling club could be topping (8)" mean?

The wordplay uses a reversal. PEPE (synonym="PEPE") + RONI (synonym="RONI") = PEPERONI The answer is PEPERONI.

Climbing records cycling club could be topping (8)

Guardian Cryptic #29415 | 17 Down | 2024-06-21 flower