Annual Report and Accounts 2022-23 - Devolved Taxes Accounts

View Annual Report 2022-23 - Devolved Taxes Accounts.

The report gives an outline of our key business activities and performance over the past financial year.

Devolved Taxes Account 2022-23: Financial Statements

Devolved Taxes Account 2022-23: Financial Statements

Devolved Taxes Account 2022-23 Financial Statements

Statement of Revenue and Expenditure

 

For the Year Ended 31 March 2023

  Note

2022-23

£000

2021-22

£000

Revenue      
Taxes      
Land and Buildings Transaction tax 2.1 847,836 807,183
Scottish Landfill tax 2.1 109,699 125,248
Total taxes   957,535 932,431

 

Penalties and Interest

     
Penalties 2.2 2,065 1,135
Interest 2.2 732 110
Total penalties and interest   2,797 1,245

 

Total Revenue

 

 

960,332

 

933,676

 

Expenditure

     
Interest paid 3.1 (349) (193)
Decrease/(Increase) in impairments 3.2 224 685
Debts written off 3.2 (7) (28)
Total expenditure   (132) 464

 

Net revenue for the Scottish Consolidated Fund

 

 

960,200

 

934,140

There were no recognised gains or losses accounted for outside the Statement of Revenue and Expenditure.

The notes on pages 27–41 form part of these financial statements.

Statement of Financial Position

as at 31 March 2023

  Note

2022-23

£000

2021-22

£000

Current assets      
Receivables 4.1 17,915 12,745
Accrued revenue receivable 4.1 45,354 42,012
Cash 5 61,935 66,696
Total current assets   125,204 121,453
       
Current liabilities      
Payables and on account balances 6 (3,895) (5,497)
Total current liabilities   (3,895) (5,497)
       
Net currentassets   121,309 115,956
       
Total assets less current liabilities   121,309 115,956
       
Total net assets   121,309 115,956
Represented by:      
       
Balance due to the Scottish Consolidated Fund 7 121,309 115,956

The notes on pages 27–41 form part of these financial statements.

The Chief Executive and Accountable Officer of Revenue Scotland authorised these financial statements for issue on

Elaine Lorimer – Chief Executive of Revenue Scotland and Accountable Officer

Statement of Cash Flows

For the year ended 31 March 2023

  Note

2022-23

£000

2021-22

£000

Net cash flow from operating activities   950,086 934,086
       
Cash paid to Scottish Consolidated Fund 7 (954,847) (874,153)
       
(Decrease)/Increase in cash in this period   (4,761) 59,933
       
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 960,200 934,140
Decrease/(Increase) in non cash assets   (8,512) 122
(Decrease)/Increase in liabilities   (1,602) (176)
Net cash flow fromoperating activities   950,086 934,086
       
B Analysis of changes in net funds      
(Decrease)/Increase in cash in thisperiod   (4,761) 59,933
Net funds at 1 April   66,696 6,763
Net funds at 31 March 5 61,935 66,696

The notes on pages 27–41 form part of these financial statements.