Company Registration No. 05066936 (England and Wales)
HOPE HOUSE (LOTTERY) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HOPE HOUSE (LOTTERY) LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
HOPE HOUSE (LOTTERY) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
3
1,240
1,590
Debtors
4
32,370
Cash at bank and in hand
311,464
139,675
312,704
173,635
Creditors: amounts falling due within one year
5
(307,837)
(168,768)
Net current assets
4,867
4,867
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
4,865
4,865
Total equity
4,867
4,867
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 August 2024 and are signed on its behalf by:
Stephen R Henly
Director
Company registration number 05066936 (England and Wales)
HOPE HOUSE (LOTTERY) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2022
2
4,865
4,867
Year ended 31 December 2022:
Profit and total comprehensive income
-
1,049,960
1,049,960
Distributions to parent charity under gift aid
-
(1,049,960)
(1,049,960)
Balance at 31 December 2022
2
4,865
4,867
Year ended 31 December 2023:
Profit and total comprehensive income
-
1,283,700
1,283,700
Distributions to parent charity under gift aid
-
(1,283,700)
(1,283,700)
Balance at 31 December 2023
2
4,865
4,867
HOPE HOUSE (LOTTERY) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Hope House (Lottery) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Nant Lane, Morda, Oswestry, Shropshire, SY10 9BX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Hope House Children's Hospices. These consolidated financial statements are available from its registered office, Nant Lane, Morda, Oswestry, SY10 9BX.
1.2
Turnover
Turnover represents the income received on weekly lottery ticket sales from both members and single ticket players. Turnover also includes raffle ticket sales.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
HOPE HOUSE (LOTTERY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
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 in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when 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.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
No persons are directly employed by Hope House (Lottery) Limited, as wages are recharged from its parent, Hope House Children's Hospices. However the employee costs in the accounts 2023: £42,702 (2022: £42,244), reflect the remuneration for the following average number of people:
2023
2022
Number
Number
Total
3
4
3
Stocks
2023
2022
£
£
Stocks
1,240
1,590
HOPE HOUSE (LOTTERY) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
22,370
Other debtors
10,000
32,370
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
16,529
16,672
Amounts owed to group undertakings
143,847
Other creditors
147,461
152,096
307,837
168,768
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Helen Furlong FCCA
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
29 August 2024
7
Related party transactions
The company distributes all of its profits to its parent undertaking, Hope House Children's Hospices under Gift Aid. The distribution for 2023 was £1,283,700 (2022: £1,049,960). At the balance sheet date Hope House (Lottery) Limited had amounts owing of £143,847 to its parent charity (in 2022 was owed £22,370). Interest is not charged on the outstanding balance.
During the year some of the members of Hope House, took part in the lottery. This was conducted on a normal arm's length basis. A policy was introduced in 2014 to prohibit directors of the company, trustees of the parent undertaking, Hope House Children's Hospices, senior managers and employees directly involved in running the lottery, from taking part in the lottery.
8
Parent company
The ultimate parent company of Hope House (Lottery) Limited is Hope House Children's Hospices, a registered charity and company, incorporated in England and Wales. The registered address of Hope House Children's Hospices is Nant Lane, Morda, Oswestry, Shropshire, SY10 9BX.
The ultimate controlling parties of Hope House Children's Hospices are the Trustees.