The Lotteries Council - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05724970 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

The Lotteries Council

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Bucci

F Carroll

G B Caswell

D Griffiths

J C Haigh Ellery

P W Jones

G H Jones

M M Lee

J Maguire

A J Morecroft

J S Naylor

R J Pannaman

D J Turton

A J Vick

Mrs M E De Vos

SECRETARY:

P W Jones

REGISTERED OFFICE:

66 Lincoln's Inn Fields

London

WC2A 3LH

REGISTERED NUMBER:

05724970 (England and Wales)

ACCOUNTANTS:

John M Taylor & Co

Chartered Accountants

9 Glasgow Road

PAISLEY

Renfrewshire

PA1 3QS

FIXED ASSETS

442

Tangible assets

4

13

CURRENT ASSETS

828

Debtors

5

3,780

185,645

Cash at bank

209,944

186,473

213,724

CREDITORS

16,781

Amounts falling due within one year

6

13,219

169,692

NET CURRENT ASSETS

200,505

170,134

TOTAL ASSETS LESS CURRENT LIABILITIES

200,518

88

PROVISIONS FOR LIABILITIES

-

170,046

NET ASSETS

200,518

RESERVES

170,046

Income and expenditure account

200,518

170,046

200,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 February 2018 and were signed on its behalf by:

J Bucci - Director

F Carroll - Director

1.	STATUTORY INFORMATION

The Lotteries Council is a private company, limited by guarantee , 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents invoiced membership Fees to the council and for attendance at the annual conference.

Turnover from the supply of services represents the value of services provided under contracts to the extent that

there is a right to consideration and is recorded at the value of the consideration due. Where payments are

received from members in advance of services provided, the amounts are recorded as Deferred Income and

included as part of Creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

20% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation.

Taxation

Taxation represents the sum of tax currently payable and deferred tax on a non discounted basis.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively

enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the

financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying

amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is

no longer probable that sufficient taxable profits will be available to allow or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which

the liability is settled or the asset is realised, based on tax rates (and tax laws) that have been enacted or

substantively enacted by the end of the reporting period.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2017

and 31 December 2017

4,059

DEPRECIATION

At 1 January 2017

3,617

Charge for year

429

At 31 December 2017

4,046

NET BOOK VALUE

At 31 December 2017

13

At 31 December 2016

442

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

2,685

475

Prepayments and accrued income

1,095

353

3,780

828

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

155

-

Corporation Tax

7,464

10,441

Accrued expenses

5,600

6,340

13,219

16,781

7.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling Party.