Annual Report and Accounts 2021 to 2022
22. Contingent liabilities disclosed under IAS 37
There are contingent liabilities of £54,800 as at 31 March 2022 (£967,238, 2020/21).
The contingent liabilities figure relates to legal costs (£54,800), which has been calculated under the guidance of IAS 37 and IAS 19, based on events existing at the balance sheet date.
Fourth National Lottery competition:
The Gambling Commission considers the liability to be a contingent liability in accordance with IAS 37. Due to the ongoing legal action and complexity of the case, including the varied consequences of multiple possible scenarios and permutations, we are unable to provide reliable financial estimates. Furthermore, there are a number of commercial sensitivities surrounding the legal challenges, and disclosure of further information could be prejudicial to the ongoing case. The liabilities will remain until the legal challenges are settled, because they relate to possible obligations in respect of enduring legal challenges as a result of the Gambling Commission’s decision.Previous section
21. Financial instruments Next section
23. Events after the reporting period
Last updated: 31 August 2022
Show updates to this content
No changes to show.