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Registered number: 12213577









BETTING AND GAMING COUNCIL
(A company limited by guarantee)









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
BETTING AND GAMING COUNCIL
 
(A company limited by guarantee)
REGISTERED NUMBER: 12213577

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
                                                                       Note
£
£

Fixed assets
  

Tangible assets
 4 
96,370
52,874

Current assets
  

Debtors: amounts falling due within one year
 5 
1,044,056
3,496,469

Cash at bank and in hand
 6 
665,963
1,152,241

  
1,710,019
4,648,710

Creditors: amounts falling due within one year
 7 
(1,639,690)
(4,596,102)

Net current assets
  
 
 
70,329
 
 
52,608

Net assets
  
166,699
105,482


Capital and reserves
  

Profit and loss account
  
166,699
105,482

  
166,699
105,482


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 February 2025.




M V Dugher (Chairman)
Director

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
BETTING AND GAMING COUNCIL

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Betting and Gaming Council (the "Company") is a private company limited by guarantee, incorporated in England and Wales. Its registration number is 12213577. The registered office is 1 Seebeck Place, Milton Keynes, United Kingdom, MK5 8FR.
The principal activity of the company during the year under review was that of a standards body for the regulated UK betting and gaming industry, excluding the National Lottery.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
BETTING AND GAMING COUNCIL

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Pensions

Defined contribution pension plans

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
BETTING AND GAMING COUNCIL

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following annual basis:

Leasehold property improvements
-
Over the term of the lease
Fixtures and fittings
-
33%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
BETTING AND GAMING COUNCIL

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

  
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. 

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.11

Creditors

Short term creditors are measured at the transaction price. 

  
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 16).

Page 5

 
BETTING AND GAMING COUNCIL

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Leasehold property improvements
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2023
185,482
54,290
101,058
340,830


Additions
-
-
19,018
19,018


Disposals
-
-
(21,490)
(21,490)



At 31 October 2024

185,482
54,290
98,586
338,358



Depreciation


At 1 November 2023
161,568
48,962
77,426
287,956


Charge for the year on owned assets
23,914
4,428
17,971
46,313


Disposals
-
-
(21,490)
(21,490)


On revalued assets
(70,791)
-
-
(70,791)



At 31 October 2024

114,691
53,390
73,907
241,988



Net book value



At 31 October 2024
70,791
900
24,679
96,370



At 31 October 2023
23,914
5,328
23,632
52,874

Page 6

 
BETTING AND GAMING COUNCIL

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
940,578
3,304,429

Other debtors
-
50,123

Prepayments and accrued income
103,478
141,917

1,044,056
3,496,469



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
665,963
1,152,241



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
315,929
190,676

Corporation tax
143,630
146,586

Other taxation and social security
96,040
95,166

Other creditors and deferred income
583,460
3,846,240

Accruals
500,631
317,434

1,639,690
4,596,102




8.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.


9.


Pension commitments

The pension charge for the year was £341,701 (2023 - £299,030). The balance outstanding at the year end amounted to £17,787 (2023 - £16,023).

Page 7

 
BETTING AND GAMING COUNCIL

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£



Not later than 1 year
379
1,009

Later than 1 year and not later than 5 years
-
379

379
1,388

2024
2023

£
£



Not later than 1 year
126,391
45,953

Later than 1 year and not later than 5 years
179,054
-

305,445
45,953


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 October 2024 was unqualified.

The audit report was signed on 20 February 2025 by Simon Liggins (Senior statutory auditor) on behalf of Barnes Roffe LLP.

Page 8