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Company No: 07316451 (England and Wales)

LOTTO LOGIC LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

LOTTO LOGIC LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

LOTTO LOGIC LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
LOTTO LOGIC LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTOR A Barber
SECRETARY E Barber
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 07316451 (England and Wales)
ACCOUNTANT Gravita II LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
LOTTO LOGIC LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
LOTTO LOGIC LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 66,267 97,068
Tangible assets 4 88,066 80,136
154,333 177,204
Current assets
Debtors 5 460,817 391,876
Investments 6 23,230 7,134
Cash at bank and in hand 2,743,442 2,571,569
3,227,489 2,970,579
Creditors: amounts falling due within one year 7 ( 205,058) ( 291,471)
Net current assets 3,022,431 2,679,108
Total assets less current liabilities 3,176,764 2,856,312
Provision for liabilities ( 21,655) ( 19,643)
Net assets 3,155,109 2,836,669
Capital and reserves
Called-up share capital 8 60 60
Capital redemption reserve 40 40
Profit and loss account 3,155,009 2,836,569
Total shareholders' funds 3,155,109 2,836,669

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Lotto Logic Limited (registered number: 07316451) were approved and authorised for issue by the Director on 27 March 2025. They were signed on its behalf by:

A Barber
Director
LOTTO LOGIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
LOTTO LOGIC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lotto Logic Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents amounts receivable for services net of trade discounts.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the Income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Domain Names - 33% Straight line

Trademarks, patents and licences 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures, fittings & equipment - 33% Straight line
Computer equipment - 33% Straight line

Plant and machinery etc. 3 years straight line
Leases

The Company as lessee
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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 8 7

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 July 2023 1,181,805 1,181,805
Additions 12,771 12,771
At 30 June 2024 1,194,576 1,194,576
Accumulated amortisation
At 01 July 2023 1,084,737 1,084,737
Charge for the financial year 43,572 43,572
At 30 June 2024 1,128,309 1,128,309
Net book value
At 30 June 2024 66,267 66,267
At 30 June 2023 97,068 97,068

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 210,192 210,192
Additions 58,418 58,418
At 30 June 2024 268,610 268,610
Accumulated depreciation
At 01 July 2023 130,056 130,056
Charge for the financial year 50,488 50,488
At 30 June 2024 180,544 180,544
Net book value
At 30 June 2024 88,066 88,066
At 30 June 2023 80,136 80,136

5. Debtors

2024 2023
£ £
Trade debtors 29,972 12,010
Other debtors 430,845 379,866
460,817 391,876

6. Current asset investments

2024 2023
£ £
Other investment 23,230 7,134

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 41,828 22,044
Taxation and social security 153,944 261,248
Other creditors 9,286 8,179
205,058 291,471

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,700 Ordinary shares of £ 0.01 each 57 57
300 Ordinary A shares of £ 0.01 each 3 3
60 60

9. Financial commitments

Commitments

Other financial commitments

2024 2023
£ £
Lessee 132,504 166,306