REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
NORTH EAST HOSPICES LOTTERY LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
NORTH EAST HOSPICES LOTTERY LTD |
NORTH EAST HOSPICES LOTTERY LTD (REGISTERED NUMBER: 03540674) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
NORTH EAST HOSPICES LOTTERY LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
The Beehive Building |
Beehive Ring Road |
Crawley |
Gatwick |
RH6 0PA |
NORTH EAST HOSPICES LOTTERY LTD (REGISTERED NUMBER: 03540674) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
NORTH EAST HOSPICES LOTTERY LTD (REGISTERED NUMBER: 03540674) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
North East Hospices Lottery Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There were no material departures from that standard. |
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
Going concern |
The company has ceased its lottery operations in year. The intention of management is to dissolve the business within the next 12 months, as such it is unlikely that the legal entity will be trading for twelve months following the approval of these financial statements. |
The accounts have therefore been prepared on a non-going concern basis. Assets have been written down to their recoverable amount and the appropriate provisions have been recognised for contractual commitments as at the balance sheet date. |
Turnover |
Turnover represents income receivable from subscriptions to the lottery. |
Income recognition |
Income is recognised weekly at the point the lottery is drawn. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Office equipment | - |
Computer equipment | - |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
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. |
NORTH EAST HOSPICES LOTTERY LTD (REGISTERED NUMBER: 03540674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Voluntary service |
In addition to recorded income and expenditure the company received the benefit of many voluntary hours and unclaimed out of pocket expenses contributed by individuals wishing to assist the four hospices, that are the registered charities to which the company covenants all its profits. It would be impossible to place a value on all these services and expenses, without which the company could not operate and for which all involved with the four hospices are extremely grateful. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
NORTH EAST HOSPICES LOTTERY LTD (REGISTERED NUMBER: 03540674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 4 | 4 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
We draw attention to note 2 to the financial statements, which states that the company has ceased its lottery operations in year, and that management intend to dissolve the business within the next twelve months. The going concern basis of accounting has therefore not been applied when preparing these financial statements. |
for and on behalf of |
NORTH EAST HOSPICES LOTTERY LTD (REGISTERED NUMBER: 03540674) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | RELATED PARTY DISCLOSURES |
During the year profits amounting to £152,686 (2023: £208,236) were distributed equally to the four shareholders. |
At the year ended 31 March 2024 £43,302 was due to these four shareholders. This amount relates to profits due for the year-ended 31 March 2024 and is included within creditors: amounts falling due within one year. |
In addition, management charges of £33,878 were distributed to St Cuthbert's Hospice (Durham) for work performed in the period. No amounts were due in relation to this balance as at year end. |
All transactions entered into with companies that have a participating interest in North East Hospices Lottery Limited were concluded under normal market conditions, therefore no further disclosure is necessary in accordance with FRS 102 section 1A. |