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REGISTERED NUMBER: SC692116 (Scotland)















Financial Statements For The Year Ended 31 December 2023

for

MBC Lotteries Ltd

MBC Lotteries Ltd (Registered number: SC692116)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MBC Lotteries Ltd

Company Information
For The Year Ended 31 December 2023







DIRECTORS: C S Byrne
R Cole
J A McMorrow
D J McMorrow





REGISTERED OFFICE: 272 Bath Street
Glasgow
G2 4JR





REGISTERED NUMBER: SC692116 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

MBC Lotteries Ltd (Registered number: SC692116)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 731,064 731,064

CURRENT ASSETS
Debtors 5 769,883 713,593

CREDITORS
Amounts falling due within one year 6 500,947 444,657
NET CURRENT ASSETS 268,936 268,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,000,000

1,000,000

CREDITORS
Amounts falling due after more than one year 7 200,000 200,000
NET ASSETS 800,000 800,000

CAPITAL AND RESERVES
Called up share capital 140,000 140,000
Share premium 660,000 660,000
800,000 800,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MBC Lotteries Ltd (Registered number: SC692116)

Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





J A McMorrow - Director


MBC Lotteries Ltd (Registered number: SC692116)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

MBC Lotteries Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost with any impairment being charged to the profit & loss account.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

MBC Lotteries Ltd (Registered number: SC692116)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2023
and 31 December 2023 731,064
NET BOOK VALUE
At 31 December 2023 731,064
At 31 December 2022 731,064

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 769,883 713,593

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 360,000 360,000
Social security and other taxes 6,533 6,628
Accrued expenses 134,414 78,029
500,947 444,657

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 200,000 200,000