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  3. Annual Report and Accounts 2020 to 2021

Report

Annual Report and Accounts 2020 to 2021

The Gambling Commission's 2020 to 2021 Annual Report and Accounts

Published
28 July 2021

Last updated
22 July 2021 - Changes

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  1. Contents
  2. Notes to the accounts
  3. Grant-in-aid (GIA) advance for revenue expenditure

Grant-in-aid (GIA) advance for revenue expenditure

Due to the uncertainty of the Commissions income as a result of the Covid-19 pandemic, DCMS provided additional GIA funding to enable the Commission to maintain its reserves at the minimum level of £3.5m.

This funding is in substance GIA and has been treated in the same way as other GIA receipts from DCMS. In accordance with the FReM, GIA is treated as a financing transaction rather than as revenue as it is a contribution from a controlling entity. This GIA of £794k is offsetable from future GIA receipts from DCMS over the course of the coming four years.

It has been agreed that £451k will be offset early in 2021-22. DCMS have advised that of the remaining balance of £343k, 10% will be offset in 2021-22 and 30% for each of the following 3 years.

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Contingent liabilities disclosed under IAS 37 Next section
Events after the reporting period
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