Registration number:
Lottery Services Limited
for the Year Ended 30 July 2023
Lottery Services Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Lottery Services Limited
(Registration number: 04827672)
Balance Sheet as at 30 July 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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2 |
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Profit and loss account |
( |
(144,541) |
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Total equity |
( |
(144,539) |
For the financial year ending 30 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Lottery Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 July 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The company relies on the continuing financial support of the parent company.
The directors of the parent company have indicated that this support will continue.
On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the parent company's financial support.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Lottery Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 July 2023
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Lottery Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 July 2023
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Fair value |
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At 31 July 2022 |
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At 30 July 2023 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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England |
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England |
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England |
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England |
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England |
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England |
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England |
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Lottery Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 July 2023
Subsidiary undertakings |
LSL (SM1) Ltd The principal activity of LSL (SM1) Ltd is |
LSL (SM2) Ltd The principal activity of LSL (SM2) Ltd is |
LSL (SM3) Ltd The principal activity of LSL (SM3) Ltd is |
LSL (SM4) Ltd The principal activity of LSL (SM4) Ltd is |
LSL (SM5) Ltd The principal activity of LSL (SM5) Ltd is |
FG Technologies Ltd The principal activity of FG Technologies Ltd is |
TGS Consultants Ltd The principal activity of TGS Consultants Ltd is |
Lottery Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 July 2023
Debtors |
Note |
2023 |
2022 |
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Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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Prepayments |
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Creditors |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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Ordinary of £1 each |
2 |
2 |
2 |
2 |
Lottery Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 July 2023
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Burnley Football Club
Barry Kilby Prostate Cancer Appeal
Barry Kilby Pension Fund
Dancehome Limited
Summary of transactions with subsidiaries
LSL (SM2) Ltd
LSL (SM3) Ltd
LSL (SM4) Ltd
LSL (SM5) Ltd
TGS Consultants Ltd
FG Technologies Ltd
Income and receivables from related parties
2023 |
Entities with joint control or significant influence |
Subsidiary |
Advertising and marketing fees |
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2022 |
Entities with joint control or significant influence |
Subsidiary |
Advertising and marketing fees |
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Amounts receivable from related party |
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Lottery Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 July 2023
Loans to related parties
2023 |
Subsidiary |
At start of period |
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Repaid |
( |
At end of period |
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2022 |
Subsidiary |
At start of period |
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Net movement in the period |
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At end of period |
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Loans from related parties
2023 |
Entities with joint control or significant influence |
Total |
At start of period |
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Repaid |
( |
( |
At end of period |
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2022 |
Entities with joint control or significant influence |
Total |
At start of period |
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Repaid |
( |
( |
At end of period |
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Control |
The ultimate controlling party is