REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st March 2023 |
for |
Worcestershire Hospices Lottery Limited |
Trading as |
The Hospices Lottery |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st March 2023 |
for |
Worcestershire Hospices Lottery Limited |
Trading as |
The Hospices Lottery |
Worcestershire Hospices Lottery Limited (Registered number: 03689508) |
Trading as The Hospices Lottery |
Contents of the Financial Statements |
for the Year Ended 31st March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Worcestershire Hospices Lottery Limited |
Trading as The Hospices Lottery |
Company Information |
for the Year Ended 31st March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
(Statutory Auditor) |
Thorneloe House |
25 Barbourne Road |
Worcester |
WR1 1RU |
Worcestershire Hospices Lottery Limited (Registered number: 03689508) |
Trading as The Hospices Lottery |
Balance Sheet |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Worcestershire Hospices Lottery Limited (Registered number: 03689508) |
Trading as The Hospices Lottery |
Notes to the Financial Statements |
for the Year Ended 31st March 2023 |
1. | STATUTORY INFORMATION |
Worcestershire Hospices Lottery Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The accounts are prepared in sterling, which is the functional currency. Monetary amounts in these financial statements are rounded to the nearest £1. |
PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS |
The financial statements contain information about Worcestershire Hospices Lottery Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
GOING CONCERN |
In preparing these financial statements, the directors have considered whether the going concern basis of preparation remains appropriate. To make this assessment the directors have considered the current financial position of the company and anticipated future cashflows for a period of at least 12 months from the signing of these financial statements. |
TURNOVER |
Turnover relates to proceeds from draws (gross of prizes paid) recognised when such draws to which they relate are undertaken |
INVESTMENTS IN SUBSIDIARIES |
Investments in subsidiaries are measured at cost. |
FINANCIAL INSTRUMENTS |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised when the company becomes party to contractual provisions of the instrument. |
Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic Financial Assets |
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Basic Financial Liabilities |
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction cost. |
Worcestershire Hospices Lottery Limited (Registered number: 03689508) |
Trading as The Hospices Lottery |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
2. | ACCOUNTING POLICIES - continued |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st April 2022 |
and 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
The company owns 100% of the ordinary share capital of the dormant company The Hospice Shop (Midlands) Limited (company number 03240873), whose registered office is the same as the company's. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
Receipts in advance | 75,729 | 84,314 |
Accrued expenses |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Worcestershire Hospices Lottery Limited (Registered number: 03689508) |
Trading as The Hospices Lottery |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
8. | RELATED PARTY DISCLOSURES |
The shares in Worcestershire Hospices Lottery Limited are owned equally by St Richard's Hospice Foundation, Acorns Children's Hospice Trading Limited (the trading company of Acorns Children's Hospice) and The Primrose Hospice Limited. |
The profits of Worcestershire Hospices Lottery Limited are gift aided equally to St Richard's Hospice Foundation, Acorns Children's Hospice and The Primrose Hospice Limited. |
Gift aid distributions are as follows: |
2023 | 2022 |
£ | £ |
- St Richard's Hospice Foundation | 70,423 | 106,407 |
- Acorns Children's Hospice | 70,423 | 106,408 |
- The Primrose Hospice Limited | 70,423 | 106,408 |
211,269 | 319,223 |
At the year end a total of £41,407 (2022 - £104,066) was owed to the three shareholders. |
Worcestershire Hospices Lottery Limited was recharged for shared operating costs by St Richard's Hospice Foundation totalling £1,800 (2022 - £12,853) and by The Primrose Hospice Ltd totalling £5,400 (2022 - £nil). |
Worcestershire Hospices Lottery Limited also paid the three shareholders good cause commissions for membership introductions totalling £842 (2022 - £nil). |
At the year end the company had total creditors payable to the three shareholders of £1,552 (2022 - £600). |
9. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we engage our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |