Turnover represents entry fees received from customers participating in competitions and prize draws, net of value added tax (where applicable).

Competition turnover

Turnover from entry fees is recognised when the Company has provided access to the competition and the customer’s entry has been validly accepted, at which point the Company has satisfied its performance obligations. Amounts received in advance of a competition taking place are deferred and recognised as revenue when the competition is held.

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.