Report

Annual report and accounts 2024 to 2025

The Gambling Commission's 2024 to 2025 annual report and accounts. For the period 1 April 2024 to 31 March 2025.

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Published
15 October 2025

Last updated
15 October 2025 - Changes

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Contents

• Annual report and accounts 2024 to 2025

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• Foreword
• Performance report
• • Introduction
  • The organisation
  • Financial performance analysis
  • Complaints
  • Sustainability
• Accountability report
• • Overview
  • Corporate governance report
  • Remuneration report
  • Staff report
  • Parliamentary accountability and audit report
  • The report of the Comptroller and Auditor General to the Houses of Parliament
• Financial statements
• • Statement of comprehensive net expenditure
  • Statement of financial position for the year ended 31 March 2025
  • Statement of cash flow for the year ended 31 March 2025
  • Statement of changes in taxpayers' equity for the year ended 31 March 2025
• Notes on the accounts
• • Statement of accounting policies
  • Statement of operating costs by operating segment
  • Expenditure
  • Income cash receipts
  • Property, plant and equipment
  • Right of use assets
  • Intangible assets
  • Financial instruments
  • Cash and cash equivalents
  • Trade and other receivables
  • Trade and other payables
  • Provisions and charges
  • Retirement benefit obligations
  • Lease liabilities
  • Contingent liabilities disclosed under IAS 37
  • Related party transactions
  • Amounts of income to the Consolidated Fund
  • Events after the reporting period
• Appendices
• • Annex A - Key operational data
  • Annex B - Performance by Business Plan Deliverable in 2024 to 2025

t. Accounting standards that have been issued but not yet adopted

IFRS 17 – Insurance Contracts

IFRS 17 replaces IFRS 4 and will be incorporated into the FReM for mandatory implementation from 2025 to 2026. The Standard establishes principles for the recognition, measurement, presentation, and disclosure of insurance contracts.

There is no expected financial impact on the Commission from the adoption of IFRS 17.

IFRS 18 – Presentation and Disclosure in Financial Statements

IFRS 18 will replace IAS 1 and is effective for annual reporting periods beginning on or after 1 January 2027 in the private sector. The public sector implementation date is yet to be confirmed.

The potential impact of IFRS 18 on the Commission is currently being assessed.

FReM 2025–26 – Changes to Non-Investment Asset Valuation

In December 2023, HMT issued an exposure draft outlining changes to the valuation and accounting of non-investment assets (for example, PPE and intangible assets), which will be mandatory from 2025 to 2026. Key changes include:

• the terms ‘service potential’ and ‘specialised and/or non-specialised’ assets are being replaced with ‘operational capacity’. This is a terminological change only and does not affect the valuation basis, which remains Existing Use Value (EUV)
• an adaptation to IAS 16 removes the requirement to revalue an asset solely because its fair value materially differs from its carrying amount. Instead, assets will be valued using one of the following approaches:
  • a quinquennial revaluation supplemented by annual indexation
  • a rolling programme of valuations over a 5-year cycle, with indexation applied in the intervening years
    • for non-property assets, appropriate indices
    • in rare cases where indices are unavailable, a quinquennial revaluation with a desktop revaluation in year 3.
  • the revaluation model for intangible assets is withdrawn. From 1 April 2025, the carrying value at 31 March 2025 will be treated as the deemed historical cost.

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  Last updated: 15 October 2025

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