Company Registration No. 03522075 (England and Wales)
DOUGLAS MACMILLAN HOSPICE STAFFORDSHIRE LOTTERIES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
DOUGLAS MACMILLAN HOSPICE STAFFORDSHIRE LOTTERIES LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
DOUGLAS MACMILLAN HOSPICE STAFFORDSHIRE LOTTERIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
750,058
1,134,901
Cash at bank and in hand
530,306
139,560
1,280,364
1,274,461
Creditors: amounts falling due within one year
5
(356,389)
(311,824)
Net current assets
923,975
962,637
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
923,973
962,635
Total equity
923,975
962,637
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 28 October 2024 and are signed on its behalf by:
Mr K D Brown
Director
Company registration number 03522075 (England and Wales)
DOUGLAS MACMILLAN HOSPICE STAFFORDSHIRE LOTTERIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2022
2
942,886
942,888
Year ended 31 March 2023:
Profit and total comprehensive income
-
962,635
962,635
Distributions to parent charity under gift aid
-
(942,886)
(942,886)
Balance at 31 March 2023
2
962,635
962,637
Year ended 31 March 2024:
Profit and total comprehensive income
-
923,973
923,973
Distributions to parent charity under gift aid
-
(962,635)
(962,635)
Balance at 31 March 2024
2
923,973
923,975
DOUGLAS MACMILLAN HOSPICE STAFFORDSHIRE LOTTERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Douglas Macmillan Hospice Staffordshire Lotteries Limited is a private company limited by shares incorporated in England and Wales. The registered office is Barlaston Road, Blurton, Stoke-on-Trent, Staffordshire, ST3 3NZ.
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 on the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents the total value of lottery, raffle, donations and scratchcard income during the year.
Lottery receipts are recognised as income at the point at which the draw to which they relate occurs. Receipts for future lottery draws are treated as deferred income until the relevant draw takes place and is included within creditors.
1.4
Cash at bank and in hand
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
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 statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
DOUGLAS MACMILLAN HOSPICE STAFFORDSHIRE LOTTERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
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.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There are no key judgements or sources of estimation uncertainty in these financial statements.
DOUGLAS MACMILLAN HOSPICE STAFFORDSHIRE LOTTERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
16
16
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2
Amounts owed by group undertakings
749,141
1,134,899
Other debtors
917
750,058
1,134,901
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,260
1,944
Other creditors
353,129
309,880
356,389
311,824
6
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
24,965
21,625
The company contributes to a defined contribution pension scheme through Douglas Macmillan Hospice for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary Shares of £1 each
2
2
DOUGLAS MACMILLAN HOSPICE STAFFORDSHIRE LOTTERIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
8
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:
Karen Staley FCA BSc (Hons)
Statutory Auditor:
Geens Limited
Date of audit report:
28 October 2024
9
Parent company
The ultimate parent company is Douglas Macmillan Hospice, a company registered in England and Wales.
Douglas Macmillan Hospice prepares group financial statements and copies can be obtained from Barlaston Road, Blurton, Stoke On Trent, Staffordshire ST3 3NZ.
The company has taken advantage of the exemption available under section 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.