Annual report and Accounts 2019 to 2020
a) Accounting conventions
The policies adopted are in accordance with the International Financial Reporting Standards (IFRS), to the extent it is meaningful and appropriate in the public sector context, as adopted and interpreted by the 2019-20 Financial Reporting Manual (FReM) issued by Her Majesty's Treasury (HMT).
These are the accounts for the Gambling Commission (the Commission) covering the twelve months from 1 April 2019 to 31 March 2020. They have been prepared in a form directed by the Secretary of State for Digital, Culture, Media, and Sport (DCMS) with the approval of HMT, in accordance with Schedule 4 of the Gambling Act 2005 (the Act). A copy of the accounts direction can be obtained from the Commission.
The particular policies adopted by the Commission are described below and have been applied consistently during the year. During the year, IFRS 16 has been adopted by the Commission which is a change compared to the previous ﬁnancial year 2018-19.
The Commission applied IFRS 16 with a date of initial application of 1 April 2019. As a result the Commission has changed its accounting policy for lease contracts as detailed below.
Last updated: 12 November 2020
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