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Annual Report and Accounts 2021 to 2022

The Gambling Commission's 2021 to 2022 Annual Report and Accounts.

  1. Contents
  2. Notes to the accounts
  3. 17. Right-of-use assets

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

Right-of-use assets
Data definitions Victoria Square House Land and Buildings
Bloomsbury Street Land and Buildings
Plant and Equipment
2021-22 Total
2020-21 Total
At 1 April 5,094 611 6 5,711 5,710
Balance as at 31 March 5,094 611 6 5,711 5,710
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
Previous section
16. Capital commitments
Next section
18. Lease liabilities
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