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Annual Report and Accounts 2022 to 2023

The Gambling Commission's 2022 to 2023 Annual Report and Accounts. For the period 1 April 2022 to 31 March 2023.

  1. Contents
  2. Notes to the accounts
  3. 19. Contingent liabilities disclosed under IAS 37

19. Contingent liabilities disclosed under IAS 37

Gambling Regulation

There are two contingent liabilities relating to legal challenges of regulatory imposed activities, both of which we assess at less than a 50 percent chance of success which would lead to combined costs of £93,000 being payable by the Gambling Commission as at 31 March 2023 (£54,800, 2021 to 2022).

The contingent liabilities figure has been calculated under the guidance of International Accounting Standards (IAS) 37 and IAS 19, based on events existing at the balance sheet date.

Fourth National Lottery competition

The 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 Commission’s decision.

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18. Contingent Asset
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20. Related party transactions
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