Report
Annual Report and Accounts 2020 to 2021
The Gambling Commission's 2020 to 2021 Annual Report and Accounts
b) Lease liability
| Victoria Square House Land and Buildings £'000s | Bloomsbury Street Land and Buildings £'000s | Plant & Equipment £'000s | 2020-21 Total £'000s | 2019-20 Total £'000s | |
|---|---|---|---|---|---|
| Leases under IFRS 16 | |||||
| At 1 April 2019 | (4,586) | (589) | (4) | (5,179) | (2,087) |
| Additions to lease liabilities* | - | - | - | - | (3,981) |
| Interest on lease liabilities @ 1.99%** | (91) | (11) | - | (102) | (114) |
| Cash payment*** | 778 | 264 | 2 | 1,044 | 1,002 |
| Balance as at 31 March | (3,899) | (336) | (2) | (4,237) | (5,180) |
| Total future lease payments under leases are given in the table below for each of the following periods: | |||||
| No later than one year | (725) | (205) | (2) | (932) | (782) |
| Later than one year and not later than five years | (3,174) | (131) | - | (3,305) | (4,398) |
| Later than five years | - | - | - | - | - |
| Balance as at 31 March | (3,899) | (336) | (2) | (4,237) | (5,180) |
Victoria Square House:
Following a successful application to the Government Property Unit, the Commission signed a lease for its existing premises in central Birmingham. The lease was signed in May 2015. The lease is for a period of 10 years (with a 5 year break clause) and commenced with effect from February 2016 when the previous lease expired. As at 31 March 2021, the lease at Victoria Square House will continue for an additional 5 years to February 2026.
Bloomsbury Street:
As part of the National Lottery Competition, the Commission have entered into a Intra-UK government agreements for premises in Bloomsbury street London. The lease is currently unsigned as at 31 March 2021. The lease is for a period of 3 years and commenced with effect from 8 November 2019.
References
* Lease at Victoria Square House will continue for an additional 5 years to February 2026.
** Interest on lease liabilities – Finance Cost – amounts recognised in SoCNE, a discount rate of 1.99% has been applied in the calculations of interest on lease liabilities.
*** Amount recognised in the statement of cash flow – total cash outflow for leases.
Last updated: 26 July 2023
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