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REGISTERED NUMBER: 03186938 (England and Wales)












Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

for

TLC Lotteries Limited

TLC Lotteries Limited (Registered number: 03186938)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


TLC Lotteries Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: M T Hopton (Chairman)
Mrs J D Ward
Ms L J Watkins
Ms V C Rowles
Ms M L Williams
M B Reeves





REGISTERED OFFICE: Drakes Court Alcester Road
Wythall
Birmingham
B47 6JR





REGISTERED NUMBER: 03186938 (England and Wales)





AUDITORS: Locke Williams Associates LLP
Chartered Accountants
Registered Auditors
Studio 2
50-54 St Pauls Square
Birmingham
West Midlands
B3 1QS

TLC Lotteries Limited (Registered number: 03186938)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

M T Hopton (Chairman)
Mrs J D Ward
Ms L J Watkins

Other changes in directors holding office are as follows:

N D Cramer - resigned 23 February 2024
Mrs C Burke - resigned 23 February 2024
Ms V C Rowles - appointed 17 May 2024
Ms M L Williams - appointed 17 May 2024

M B Reeves was appointed as a director after 31 December 2024 but prior to the date of this report.

Mrs J A McDougall ceased to be a director after 31 December 2024 but prior to the date of this report.

TLC Lotteries Limited maintains liability insurance for its Directors and management.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Locke Williams Associates LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.


TLC Lotteries Limited (Registered number: 03186938)

Report of the Directors
for the Year Ended 31 December 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M T Hopton (Chairman) - Director


16 May 2025

Report of the Independent Auditors to the Members of
TLC Lotteries Limited

Opinion
We have audited the financial statements of TLC Lotteries Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
TLC Lotteries Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
TLC Lotteries Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

- We gained an understanding of the legal and regulatory framework applicable to the company and the
sector in which it operates, and considered the risk of acts by the company that were contrary to
applicable laws and regulations, including fraud.
- We designed audit procedures to respond to these risks, recognising that the risk of not detecting a
material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as
fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or
through collusion.
- We focussed on laws and regulations which could give rise to a material misstatement in the financial
statements, including, but not limited to, the Companies Act 2006, FRS 102 and tax legislation.
- We identified the risk of management override of controls as the area where the financial statements
were most susceptible to material misstatement due to fraud.
- Based on this understanding, our audit procedures included, but were not limited to, testing journals
and other adjustments, considering the business rationale in relation to significant, unusual
transactions and evaluating whether there was evidence of bias by the directors that represented a risk
of material misstatement due to assumptions and judgements made by management.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
TLC Lotteries Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Williams FCA FCCA (Senior Statutory Auditor)
for and on behalf of Locke Williams Associates LLP
Chartered Accountants
Registered Auditors
Studio 2
50-54 St Pauls Square
Birmingham
West Midlands
B3 1QS

16 May 2025

TLC Lotteries Limited (Registered number: 03186938)

Income Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £    £   

INCOME 3 525,580 537,244

Direct costs 195,600 198,655
GROSS PROFIT 329,980 338,589

Charitable distributions 24,655 24,119
Administrative expenses 138,006 136,631
162,661 160,750
OPERATING PROFIT 5 167,319 177,839

Interest receivable and similar income 5,331 2,185
PROFIT BEFORE TAXATION 172,650 180,024

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR 172,650 180,024

TLC Lotteries Limited (Registered number: 03186938)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 1,666 741

CURRENT ASSETS
Debtors 9 2,876 10,920
Cash at bank and in hand 10 299,812 265,542
302,688 276,462
CREDITORS
Amounts falling due within one year 11 68,962 64,461
NET CURRENT ASSETS 233,726 212,001
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,392

212,742

CAPITAL AND RESERVES
Called up share capital 12 15,300 15,300
Retained earnings 220,092 197,442
SHAREHOLDERS' FUNDS 235,392 212,742

The financial statements have been prepared 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 16 May 2025 and were signed on its behalf by:





M T Hopton (Chairman) - Director


TLC Lotteries Limited (Registered number: 03186938)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 15,300 167,418 182,718

Changes in equity
Distributions under gift aid - (150,000 ) (150,000 )
Total comprehensive income - 180,024 180,024
Balance at 31 December 2023 15,300 197,442 212,742

Changes in equity
Distributions under gift aid - (150,000 ) (150,000 )
Total comprehensive income - 172,650 172,650
Balance at 31 December 2024 15,300 220,092 235,392

TLC Lotteries Limited (Registered number: 03186938)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

TLC Lotteries Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The directors consider that there are no material uncertainties about the Company's ability to continue as a going concern. There are no significant areas of uncertainty that affect the carrying value of assets.

Income
Income is recognised to the extent that it is probable that the economic benefits will flow to the Company and the income can be reliably measured. Income is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost

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 the profit or loss.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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.

Creditors
Creditors and provisions are recognised where the Company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

TLC Lotteries Limited (Registered number: 03186938)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Taxation
The limited company distributes all profits under gift aid therefore no corporation tax is payable.

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

Pension costs and other post-retirement benefits
The limited company pays defined contributions into the personal pension plans of certain employees. The pension cost charge represents contributions payable by the limited company in respect of the period.

3. INCOME

All income arose within the United Kingdom.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

31.12.24 31.12.23
£ £
Wages and salaries 62,835 67,445
Social security costs (714 ) (9,472 )
Other pension costs 4,514 4,125
66,635 62,101

The credit for social security costs of £714 in 2024 and £9,472 in 2023 arises as a result of a successful retrospective claim to recover Employers' Allowance which the company was eligible to claim.

The average monthly number of employees, excluding the directors, during the period was 2 (2023: 3).

During the period no directors received any remuneration (2023: £nil).

5. OPERATING PROFIT

The operating profit is stated after charging:

31.12.24 31.12.23
£    £   
Depreciation - owned assets 624 406
Pension costs 4,514 4,128
Auditors remuneration 5,700 5,700
Non-audit fees 600 600
Other operating lease rentals 7,332 7,332
Defined contribution pension cost 4,514 4,128

TLC Lotteries Limited (Registered number: 03186938)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CHARITABLE DISTRIBUTIONS

31.12.2431.12.23
££

Distributions - shareholder charities6,3825,802
Distributions - other good causes18,27318,317
24,65524,119

7. DISTRIBUTIONS UNDER GIFT AID

1.12.2431.12.23
££

Distributions of profits150,000150,000
150,000150,000

8. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 January 2024 6,241
Additions 1,559
Disposals (1,603 )
At 31 December 2024 6,197
DEPRECIATION
At 1 January 2024 5,500
Charge for year 624
Eliminated on disposal (1,593 )
At 31 December 2024 4,531
NET BOOK VALUE
At 31 December 2024 1,666
At 31 December 2023 741

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Prepayments and accrued income 2,876 10,920

10. CASH AT BANK AND IN HAND
31.12.24 31.12.23
£    £   
Bank accounts 299,648 265,429
Petty cash 164 113
299,812 265,542

TLC Lotteries Limited (Registered number: 03186938)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Social security and other taxes - 1,380
Deferred income 35,634 44,775
Accrued expenses 33,328 18,306
68,962 64,461

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
5,100 A Shares £1 5,100 5,100
5,100 B Shares £1 5,100 5,100
5,100 C Shares £1 5,100 5,100
15,300 15,300

The 5,100 A shares and 5,100 B shares are respectively owned by Focus Birmingham and Birmingham Hospice. The 5,100 C shares are owned by Acorns Children's Hospice (Trading) Limited, the trading subsidiary of Acorns Children's Hospice Trust.

13. PENSION COMMITMENTS

The Company pays defined contributions into the personal pension plans of certain employees. The pension cost charge represents contributions payable by the Company and amounted to £4,514 (2023: £4,128). There were no prepayments or accruals in relation to pension plans at the balance sheet date (2023: £nil).

14. RELATED PARTY DISCLOSURES

The following transactions with the ultimate controlling parties took place during the year.

31.12.24 31.12.23
£ £
Core
Acorns Children's Hospice 50,000 49,999
Focus Birmingham 50,000 50,001
Birmingham Hospice 50,000 50,000
Other charitable distributions:
Acorns Children's Hospice 2,726 2,838
Focus Birmingham 288 306
Birmingham Hospice 3,368 2,658
Recharges: Rent & Other Services
Acorns Children's Hospice 14,112 14,112

15. CONTROLLING PARTY

The limited company is ultimately controlled by three charities, Acorns Children's Hospice, Focus Birmingham and Birmingham Hospice.

Each party directly or indirectly owns an equal amount of equity and the joint venture is regulated under the terms of a joint venture agreement.