Bring Dreams to Life Fíoraítear Aislingí - National Lottery

Statement ofAccounting PoliciesFor the year ended 31 December 2008Ráiteas ar na PolasaitheCuntasaíochtaDon bhliain dar críoch 31 Nollaig 2008The following accounting policies have been appliedconsistently in dealing with items which are consideredmaterial in relation to the Company’s financial statements.1. Basis of AccountingThe financial statements are prepared under the historical costconvention in accordance with applicable law and Irish GenerallyAccepted Accounting Practice which includes compliance withthe financial reporting standards of the UK Accounting StandardsBoard as promulgated by The Institute of Chartered Accountantsin Ireland.2. TurnoverTurnover from the sale of National Lottery tickets is recognisedas the tickets are sold, with adjustments being made for ScratchCard ticket stocks held by agents and for on-line multi drawtickets / advance tickets. Phone Play turnover comprises aportfolio of games where sales are recognised on a draw by drawbasis.All turnover is derived from and originates in Ireland.3. PrizesThe prize structure complies with the requirements of Section4(2) of the National Lottery Act, 1986 whereby, taking one yearwith another, not less than 40% of the total monies received bythe Company in respect of the sale of National Lottery ticketsshall be distributed in prizes. Prizes are provided for as revenue isrecognised on the basis of the game’s particular prize structure.Any difference between the total amount provided and theamounts actually distributed is included in Creditors in thebalance sheet as a prize liability.4. Advertising and Promotional ExpenditureAdvertising and promotional expenditure is written off in full inthe year in which the costs are incurred.5. Leased Assets - OperatingOperating lease rentals are charged to the Profit and LossAccount on a straight line basis over the lease term.6. TaxationThe Company is exempt from Corporation Tax under Section 220Taxes Consolidation Act, 1997.7. Fixed Assets - Tangible AssetsTangible assets are shown as having no book value, as the totalcost thereof to the Company is reimbursed out of the NationalLottery Fund.Accordingly, no depreciation is provided.Under Section 17(1) (a) of the National Lottery Act, 1986, theCompany holds these assets in trust for the State.Cuireadh i bhfeidhm go rialta na polasaithe cuntasaíochtaseo a leanas i gcás míreanna a measadh a bheith ábhartha igcomhthéacs ráitis airgeadais an Chomhlachta.1. Bunús an UllmhúcháinUllmhaítear na ráitis airgeadais de réir dlíthe oiriúnacha nahÉireann agus na gCleachtas Cuntasaíochta, a bhfuil gnáthghlacadhleo in Éirinn, ar a áirítear cloí leis na caighdeáin ad’eisigh an UK Accounting Standards Board ar thuairisciúairgeadais agus a d’fhoilsigh Institiúid na gCuntasóirí Cairtein Éirinn.2. LáimhdeachasAithnítear an láimhdeachas ó dhíolachán thicéid an ChrannchuirNáisiúnta de réir mar a dhíoltar na ticéid agus déantarcoigeartuithe don stoc ticéad do na tob-chluichí a choinníonn nagníomhairí agus do thicéid/réamh-thicéid ilchrannchuir ar líne.Is éard atá i láimhdeachas Phone Play ná punann chluichí agusaithnítear an díolachán ó chrannchur go crannchur.As Éirinn a thagann agus is in Éirinn a fhaightear anláimhdeachas uile.3. DuaiseannaTá an duais-struchtúr ag teacht le forálacha Alt 4(2) den Achtum Chrannchur Náisiúnta 1986. Faoi na forálacha seo, agusbliain amháin á ghlacadh le bliain eile, dáilfear mar dhuaiseannasuim nach lú ná 40% den airgead iomlán a fuair an Comhlachtmar thoradh ar dhíolachán thicéid an Chrannchuir Náisiúnta.Déantar soláthar do na duaiseanna de réir mar a aithnítear ant-ioncam agus léirítear i measc na gCreidiúnaithe ar an gClárComhardaithe mar dhliteanas duaise cibé difríocht a bhíonn idiran tsuim iomlán a sholáthraítear agus na suimeanna a dháiltear.4. Caiteachas ar Fhógraíocht is ar Chur Chun CinnDíscríobhtar iomlán an chaiteachais ar fhógraíocht is ar churchun cinn sa bhliain ina tharraingítear na costais.5. Sócmhainní ar léasanna oibriúcháinGearrtar costas chíosanna ar léasanna oibriúcháin ar an gCuntasBrabúis agus Caillteanais ar bhonn mhéid chothroim thartréimhse an léasa.6. CánachasTá díolúine ag an gComhlacht ó Cháin Chorparáide faoi Alt 220den Acht Comhdhlúite Cánacha 1997.7. Sócmhainní Seasta – Sócmhainní InláimhsitheNí léirítear aon leabharluach a bheith ag sócmhainníinláimhsithe ón uair go n-aisíoctar a gcostas iomlán leis angComhlacht as Ciste an Chrannchuir Náisiúnta.Dá réir, ní thagann aon mhuirear dímheasa i gceist.I gcás na sócmhainní seo, feidhmíonn an Comhlacht mariontaobhaí thar ceann an Stáit, faoi Alt 17(1) (a) d’Acht umChrannchur Náisiúnta 1986.38National Lottery Annual Report 2008