Report
Annual report and accounts 2023 to 2024
The Gambling Commission's 2023 to 2024 Annual report and accounts. For the period 1 April 2023 to 31 March 2024.
j. Licence fee receipts and fee income recognition
Income is recognised in line with International Financial Reporting Standards (IFRS) 15 principles. In practice there has been no change in recognition from the policy followed under International Accounting Standards (IAS) 18.
The Gambling Commission collects fee income in relation to the Gambling Act 2005. The Commission recognises income in the following way:
- operator licence application fees
- income is recognised in full when the operator licence is issued
- operator licence annual fees
- income is recognised equally over the duration of the licence
- personal licence fees
- 60 percent of the application income received is recognised when the licence is issued (to reflect the application costs)
- the remaining 40 percent is recognised equally over the duration of the licence (such as 5 years)
- 35 percent of the maintenance renewal income received is recognised when the licence is issued (to reflect the renewal costs)
- the remaining 65 percent is recognised equally over the duration of the licence (such as 5 years).
Last updated: 17 October 2024
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