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Registration number: 04827672

Lottery Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 July 2024

 

Lottery Services Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 8

 

Lottery Services Limited

(Registration number: 04827672)
Balance Sheet as at 30 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

7

7

Current assets

 

Debtors

5

47,958

80,253

Cash at bank and in hand

 

60,682

48,115

 

108,640

128,368

Creditors: Amounts falling due within one year

6

(263,016)

(296,980)

Net current liabilities

 

(154,376)

(168,612)

Net liabilities

 

(154,369)

(168,605)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(154,371)

(168,607)

Shareholders' deficit

 

(154,369)

(168,605)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 April 2025 and signed on its behalf by:
 

.........................................
N M Palich
Director

 

Lottery Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Ribble Court
Mead Way
Padiham
Burnley
Lancashire
BB12 7NG

These financial statements were authorised for issue by the Board on 7 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company relies on the continuing financial support of the parent company.

The directors of the parent company have indicated that this support will continue.

On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the parent company's financial support.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Lottery Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Lottery Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 4).

4

Investments

2024
£

2023
£

Investments in subsidiaries

7

7

Subsidiaries

£

Fair value

At 31 July 2023

7

At 30 July 2024

7

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

LSL (SM1) Ltd

England

Ordinary

100%

100%

LSL (SM2) Ltd

England

Ordinary

100%

100%

LSL (SM3) Ltd

England

Ordinary

100%

100%

LSL (SM4) Ltd

England

Ordinary

100%

100%

LSL (SM5) Ltd

England

Ordinary

100%

100%

FG Technologies Ltd

England

Ordinary

100%

100%

TGS Consultants Ltd

England

Ordinary

100%

100%

 

Lottery Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

Subsidiary undertakings

LSL (SM1) Ltd

The principal activity of LSL (SM1) Ltd is marketing and lottery sales. Its financial period end is 31 July. The loss for the financial period of LSL (SM1) Ltd was £1,175 and the aggregate amount of Capital and reserves at the end of the period was £(757).

LSL (SM2) Ltd

The principal activity of LSL (SM2) Ltd is marketing and lottery sales. Its financial period end is 31 July. The loss for the financial period of LSL (SM2) Ltd was £2,413 and the aggregate amount of Capital and reserves at the end of the period was £12,681.

LSL (SM3) Ltd

The principal activity of LSL (SM3) Ltd is marketing and lottery sales. Its financial period end is 31 July. The loss for the financial period of LSL (SM3) Ltd was £52 and the aggregate amount of Capital and reserves at the end of the period was £(697).

LSL (SM4) Ltd

The principal activity of LSL (SM4) Ltd is marketing and lottery sales. Its financial period end is 31 July. The loss for the financial period of LSL (SM4) Ltd was £455 and the aggregate amount of Capital and reserves at the end of the period was £(2,697).

LSL (SM5) Ltd

The principal activity of LSL (SM5) Ltd is marketing and lottery sales. Its financial period end is 31 July. The profit for the financial period of LSL (SM5) Ltd was £684 and the aggregate amount of Capital and reserves at the end of the period was £2,593.

FG Technologies Ltd

The principal activity of FG Technologies Ltd is marketing and lottery sales. Its financial period end is 31 July. The profit for the financial period of FG Technologies Ltd was £870 and the aggregate amount of Capital and reserves at the end of the period was £630.

TGS Consultants Ltd

The principal activity of TGS Consultants Ltd is marketing and lottery sales. Its financial period end is 31 July. The loss for the financial period of TGS Consultants Ltd was £4,957 and the aggregate amount of Capital and reserves at the end of the period was £(5,577).

 

Lottery Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

9,729

504

Amounts owed by related parties

8

38,000

79,445

Other debtors

 

-

96

Prepayments

 

229

208

 

47,958

80,253

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

1,612

400

Taxation and social security

686

426

Accruals and deferred income

140,718

161,154

Other creditors

120,000

135,000

263,016

296,980

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       
 

Lottery Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

8

Related party transactions

Summary of transactions with entities with joint control or significant interest

Total Gaming Solutions Limited
Barry Kilby Prostate Cancer Appeal
Barry Kilby Pension Fund
Dancehome Limited
TGSL Ltd
LSL SM9 Ltd

 

Summary of transactions with subsidiaries

LSL (SM1) Ltd
LSL (SM2) Ltd
LSL (SM3) Ltd
LSL (SM4) Ltd
LSL (SM5) Ltd
TGS Consultants Ltd
FG Technologies Ltd

 

Income and receivables from related parties

2024

Entities with joint control or significant influence
£

Subsidiary
£

Advertising and marketing fees

736

46,391

Amounts receivable from related party

-

9,560

2023

Entities with joint control or significant influence
£

Subsidiary
£

Advertising and marketing fees

3,220

65,384

Expenditure with and payables to related parties

2024

Subsidiary
£

General expenditure

2,014

Amounts payable to related party

1,612

 

Lottery Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 July 2024

Loans to related parties

2024

Subsidiary
£

At start of period

79,445

Repaid

(41,445)

At end of period

38,000

2023

Subsidiary
£

At start of period

105,000

Repaid

(25,555)

At end of period

79,445

Loans from related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

135,000

135,000

Repaid

(15,000)

(15,000)

At end of period

120,000

120,000

2023

Entities with joint control or significant influence
£

Total
£

At start of period

185,000

185,000

Repaid

(50,000)

(50,000)

At end of period

135,000

135,000

9

Control

The ultimate controlling party is director, B C Kilby who owns 100% of the ordinary share capital of Total Gaming Solutions Limited.