Annual Report and Accounts 2023-24

Losses statement

In 2023-24 fees charged to sequestrated estates not able to be recovered amounted to £1.0 million (2022-23 - £0.7 million.). This is considered a ‘constructive loss’ in line with the Scottish Public Finance Manual’s definition. There were no individual cases with a constructive loss over the defined value of £300,000 (2022-23 – £nil). There were 559 cases (2022-23 – 365 cases) which incurred some level of constructive loss.

The amount unable to be recovered in 2022-23, previously reported as £0.9 million has been re-stated due to reviewing the reporting parameters.

Fees/charges

The Performance analysis section provides detail on how AiB recovers fees from bankruptcy.

AiB has complied with the cost allocation and charging requirements set out in Scottish Government Public Finance Manual.

Gifts and Hospitality

AiB maintain a register of gifts and hospitality. In 2023-24 there were no gifts received where the value exceeded the limits proscribed in Managing Public Money and by Scottish Government. AiB do not give gifts.

Remote contingent liabilities

Contingent liabilities that meet the disclosure requirements in IAS37 are included in the Notes to the Accounts. AiB also reports any liabilities for which the likelihood of a transfer of economic benefit in settlement is too remote to meet the definition of contingent liability. There were no remote contingent liabilities at 31 March 2024.

Long-term expenditure trends

The following chart outlines total resource expenditure over the previous ten years with annual spend ranging between £7.4 million and £13.2 million. Over this period, expenditure has been funded by a combination of statutory income and Scottish Government budget allocation.

There were three years of full cost recovery over this period. Continued low levels of bankruptcy cases awarded has resulted in lower case related expenditure being incurred over the course of this year.

Chart: AiB expenditure by funding source graph

Dr Richard Dennis

Accountable Officer  

03 December 2024