Report
Annual Report and Accounts 2021 to 2022
The Gambling Commission's 2021 to 2022 Annual Report and Accounts.
17. Right-of-use assets
In accordance with IFRS 16, the Commission has categorised all leases as finance leases, with the exception of those leases which are exempt either by having less than 12 months to run from 31 March 2022 or are considered low value (less than £5,000).
The finance lease is recognised as an asset and a corresponding lease liability at the net present value (NPV) of future lease payments. Lease payments are apportioned between the finance charge and the reduction of the outstanding liability.
Right-of-use assets
| Data definitions | Victoria Square House Land and Buildings £'000s |
Bloomsbury Street Land and Buildings £'000s |
Plant and Equipment £'000s |
2021-22 Total £'000s |
2020-21 Total £'000s |
|---|---|---|---|---|---|
| Cost/valuation | |||||
| At 1 April | 5,094 | 611 | 6 | 5,711 | 5,710 |
| Balance as at 31 March | 5,094 | 611 | 6 | 5,711 | 5,710 |
| Amortisation | |||||
| At 1 April | (1,472) | (289) | (4) | (1,765) | (823) |
| Depreciation charge for the year | (737) | (204) | (1) | (942) | (942) |
| Balance as at 31 March | (2,209) | (493) | (5) | (2,707) | (1,765) |
| Balance as at 31 March | 2,885 | 118 | 1 | 3,004 | 3,945 |
16. Capital commitments Next section
18. Lease liabilities
Last updated: 31 August 2022
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