Statement of Revenue and Expenditure
for the year ended 31 March 2024
| Note | 2023-24 £000 |
2022-23 £000 |
|
| Revenue Taxes |
|||
| Land and Buildings Transaction tax | 2.1 | 784,372 | 847,836 |
| Scottish Landfill tax | 2.1 | 68,372 | 109,699 |
| Total taxes | 852,744 | 957,535 | |
| Penalties and Interest | |||
| Penalties | 2.2 | 2,178 | 2,065 |
| Interest | 2.2 | 536 | 732 |
| Total penalties and interest | 2,714 | 2,797 | |
| Total Revenue | 855,458 | 960,332 | |
| Expenditure | |||
| Interest paid | 3.1 | (1,386) | (349) |
| Decrease/(Increase) in impairments | 3.2 | (862) | 224 |
| Debts written off | 3.2 | (53) | (7) |
| Total expenditure | (2,301) | (132) | |
| Net revenue for the Scottish Consolidated Fund | 853,157 | 960,200 |
There were no recognised gains or losses accounted for outside the Statement of Revenue and Expenditure. The notes on pages 27-40 form part of these financial statements.
Statement of Financial Position
as at 31 March 2024
| Note | 2023-24 £000 |
2022-23 £000 |
|
| Current assets | |||
| Receivables | 4.1 | 17,434 | 17,915 |
| Accrued revenue receivable | 4.1 | 26,854 | 45,354 |
| Cash | 5 | 56,015 | 61,935 |
| Total current assets | 100,303 | 125,204 | |
| Current liabilities | |||
| Payables and on account balances | 6 | (3,855) | (3,895) |
| Total current liabilities | (3,855) | (3,895) | |
| Net current assets | 96,448 | 121,309 | |
| Total assets less current liabilities | 96,448 | 121,309 | |
| Total net assets | 96,448 | 121,309 | |
| Represented by: | |||
| Balance due to the Scottish Consolidated Fund | 7 | 96,448 | 121,309 |
The notes on pages 27-40 form part of these financial statements. The Chief Executive and Accountable Officer of Revenue Scotland authorised these financial statements for issue on 24 September 2024.
Elaine Lorimer – Chief Executive of Revenue Scotland and Accountable Officer
Statement of Cash Flows
for the year ended 31 March 2024
| Note | 2023-24 £000 |
2022-23 £000 |
|
| Net cash flow from operating activities | 872,098 | 950,086 | |
| Cash paid to Scottish Consolidated Fund | 7 | (878,018) | (954,847) |
| (Decrease)/Increase in cash in this period | 5 | (5,920) | (4,761) |
| Notes to the Statement of Cash Flows | |||
| A Reconciliation of net cashflow to movement in net funds | |||
| Net revenue for the Scottish Consolidated Fund | SoRE | 853,157 | 960,200 |
| Decrease/(Increase) in non cash assets | 4.1 | 18,981 | (8,512) |
| (Decrease)/Increase in liabilities | 6 | (40) | (1,602) |
| Net cash flow from operating activities | 872,098 | 950,086 | |
| Net cash flow from investing activities | 0 | 0 | |
| Net cash flow from financing activities | 0 | 0 | |
| B Analysis of changes in net funds | |||
| (Decrease)/Increase in cash in this period | (5,920) | (4,761) | |
| Net funds at 1 April | 61,935 | 66,696 | |
| Net funds at 31 March | 5 | 56,015 | 61,935 |
The notes on pages 27-40 form part of these financial statements.