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.
14. Retirement benefits obligations
This provision recognises the payments due in respect of a former Chair of Office of the National Lottery (OFLOT).
As set out in accounting policy 1d, Statement of accounting policies, Pension costs, for further details refer to the Retirement benefits section of the staff report.
| Description | 2023 to 2024 £ thousands |
2022 to 2023 £ thousands |
||
|---|---|---|---|---|
| Balance at 1 April | 177 | 213 | ||
| Interest cost | 7 | 3 | ||
| Actuarial loss and/or gain in the period | 3 | (23) | ||
| Pensions paid in year | (18) | (16) | ||
| Balance at 31 March | 169 | 177 | ||
| Liabilities included in the balance sheet | ||||
| Current | 19 | 18 | ||
| Non current | 150 | 159 | ||
| Balance at 31 March | 169 | 177 | ||
The pension liability provision of £169k is split between, liability not later than one year (£19,000), and liability greater than one year (£150k).
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15. Lease liabilities
Last updated: 17 October 2024
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