Company Registration No. 04690117 (England and Wales)
EGAMING COMPLIANCE SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
PAGES FOR FILING WITH REGISTRAR
EGAMING COMPLIANCE SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
EGAMING COMPLIANCE SERVICES LIMITED
BALANCE SHEET
AS AT 30 JUNE 2020
30 June 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Investments
3
1,068
1,068
Current assets
Work in progress
1,593
29,376
Debtors
4
1,400,996
1,802,570
Cash at bank and in hand
496,289
268,399
1,898,878
2,100,345
Creditors: amounts falling due within one year
5
(633,859)
(871,316)
Net current assets
1,265,019
1,229,029
Total assets less current liabilities
1,266,087
1,230,097
Capital and reserves
Profit and loss reserves
1,266,087
1,230,097
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered 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 14 October 2020 and are signed on its behalf by:
Ms A N Rees
Director
Company Registration No. 04690117
EGAMING COMPLIANCE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
- 2 -
1
Accounting policies
Company information
eGaming Compliance Services Limited is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
2nd Floor Berkeley Square House, Berkeley Square, London, W1J 6BD2nd Floor Berkeley Square House, Berkeley Square, London, W1J 6BD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Uninvoiced costs are recognised in work in progress after provision for unrecoverable amounts.
Fees received on account of work to be completed are recorded within creditors falling due within one year.
1.3
Fixed asset investments
Interests in subsidiaries
are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
1.4
Dividends
Dividends payable to the company's members are recognised as liabilities once they are no longer at the discretion of the company.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.
EGAMING COMPLIANCE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
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 lease
s
asset are consumed.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
Non-monetary items measured in terms of historic cost in a foreign currency are not retranslated.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
3
3
3
Fixed asset investments
2020
2019
£
£
Shares in group undertakings and participating interests
1,068
1,068
EGAMING COMPLIANCE SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 July 2019 & 30 June 2020
1,068
Carrying amount
At 30 June 2020
1,068
At 30 June 2019
1,068
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
1,133,007
1,237,596
Other debtors
260,072
213,618
Prepayments and accrued income
7,917
351,356
1,400,996
1,802,570
5
Creditors: amounts falling due within one year
2020
2019
£
£
Other borrowings
1,000
1,000
Trade creditors
20,194
1,165
Taxation and social security
606,392
797,696
Other creditors
1,273
66,610
Accruals and deferred income
5,000
4,845
633,859
871,316
6
Related party transactions
During the year, private expenses were paid on behalf of the director. At the balance sheet date, the amount due from the director was £nil (2019 - £6,635).
7
Parent company
The parent company is eGaming Compliance (Holdings) Limited.
The ultimate controlling party is The Touchstone Trust.