Annual Report and Accounts 2023-24
Annual Report and Accounts reports on the business and financial activities undertaken by AiB over the last financial year
|
|
Note |
2023-24 £’000 |
2023-24 £’000 |
2022-23 £’000 |
2022-23 £’000 |
|||||
|
Programme costs |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Expenditure |
||||||||||
|
Staff costs |
5,776 |
|
5,079 |
|
||||||
|
Direct sequestration costs |
1,376 |
|
1,665 |
|
||||||
|
Other operating costs |
note 3 |
1,795 |
|
1,099 |
|
|||||
|
Non-cash expenditure |
note 3 |
1,206 |
|
924 |
|
|||||
|
Total operating expenditure |
|
10,153 |
|
8,767 |
|
|||||
|
Finance Costs |
23 |
|
25 |
|
||||||
|
Total Expenditure |
|
|
10,176 |
|
8,792 |
|||||
|
Total operating income |
|
(9,001) |
|
(8,619) |
||||||
|
Total Expenditure/(surplus) |
|
|
1,175 |
|
173 |
|||||
|
Net (gain)/loss on revaluation/indexation of property, plant and equipment |
|
(5) |
|
(19) |
||||||
|
Comprehensive net expenditure/(income) for the year ended 31 March |
|
|
1,070 |
|
154 |
|||||
The notes to the accounts form part of this statement. All income and expenditure is derived from continuing operations.
Table note : Finance costs relate to finance charges on right of use asset lease payments. This was represented within non-cash costs for 2022-23. A presentational change has been made in the financial statements as recommended by IFRS 16. There is no impact on the overall net position for 2022-23.
|
Note |
2023-2024 £’000 |
2022-2023 £’000 |
|
|
Non-current assets: |
|
|
|
|
Property, plant and equipment |
332 |
399 |
|
|
Intangible assets |
2,270 |
2,438 |
|
|
Right of Use Assets |
2,234 |
2,427 |
|
|
Total non-current assets |
|
4,836 |
5,264 |
|
Current assets: |
|
|
|
|
Trade and other receivables |
1,081 |
1,088 |
|
|
Cash and cash equivalents |
744 |
824 |
|
|
Total current assets |
|
1,825 |
1,912 |
|
Total assets |
|
6,661 |
7,176 |
|
Current liabilities: |
|
|
|
|
Trade and other payables |
(762) |
(1,016) |
|
|
Finance Lease Liability |
(185) |
(183) |
|
|
Provisions |
(75) |
0 |
|
|
Total current liabilities |
|
(1,022) |
(1,199) |
|
Total assets less current liabilities |
|
5,639 |
5,977 |
|
Non-current liabilities: |
|||
|
Finance Lease Liability |
(2,110) |
(2,299) |
|
|
Total non-current liabilities |
|
(2,110) |
(2,299) |
|
Total assets less total liabilities |
|
3,529 |
3,678 |
|
Taxpayers' equity and other reserves |
|
|
|
|
General fund |
3,513 |
3,657 |
|
|
Revaluation reserve |
16 |
21 |
|
|
Total equity |
|
3,529 |
3,678 |
The notes to the accounts form part of this statement.
The Accountable Officer authorised these statements for issue on 03 November 2024.
end of section
Dr Richard Dennis
Accountable Officer
03 December 2024
|
|
Note |
2023-24 £’000 |
2022-23 £’000 |
|---|---|---|---|
| Cashflows from operating activities | |||
|
Total surplus/(expenditure) |
(1,175) |
(173) |
|
|
Adjustments for non-cash transactions |
1,206 |
924 |
|
|
(Increase)/decrease in trade and other receivables |
7 |
(125) |
|
|
Increase/(decrease) in trade and other payables |
35 |
2,290 |
|
|
Increase/(decrease) in provisions |
75 |
(79) |
|
|
Net cash inflow/(outflow) from operating activities |
|
148 |
2,837 |
|
Cashflows from investing activities |
|||
|
Purchase of property, plant and equipment |
(71) |
(189) |
|
|
Purchase of intangible assets |
(663) |
(990) |
|
|
Disposal of intangible assets |
3 |
0 |
|
|
Disposal of PPE |
8 |
10 |
|
|
Increase/(decrease) in capital accruals |
(293) |
209 |
|
|
Net cash inflow/(outflow) from investing activities |
|
(1,016) |
(960) |
|
Cashflows from financing activities |
|||
|
Lease |
|||
|
IFRS Transition Lease Liability |
0 |
(2,438) |
|
|
Repayment of principle on right of use asset |
|
(206) |
(206) |
|
Right of use asset finance charge [table note 1] |
|
23 |
25 |
|
Total |
|
(183) |
(2,619) |
|
Scottish Consolidated Fund |
|||
|
Finance to Scottish Consolidated Fund |
|
(9,131) |
(9,633) |
|
Finance from Scottish Consolidated Fund |
|
10,102 |
9,274 |
|
Net from Scottish Consolidated Fund |
971 |
(359) |
|
|
Net cash inflow/(outflow) from financing activities |
|
788 |
(2,978) |
|
Net increase/(decrease) in cash and cash equivalents |
|
(80) |
(1,101) |
|
Cash and cash equivalents at the beginning of the period |
824 |
1,925 |
|
|
Cash and cash equivalents at the end of the period |
744 |
824 |
|
Note 1: The ROU asset finance charge was previously included as part of non-cash adjustments for 2022-23. A presentational change has been made in the financial statements as recommended by the FreM. There is no impact on the overall net position for 2022-23
|
|
General fund £’000 |
Revaluation reserve £’000 |
Total £’000 |
|
|---|---|---|---|---|
| Balance at 1 April 2023 | 3,657 | 21 | 3,678 | |
| Changes in taxpayers' equity for 2023-24 | ||||
| Revaluation gains and losses | note 5, note 6 | 0 | 5 | 5 |
| Auditor's remuneration | note 3 | 50 | 0 | 50 |
| Total expenditure for the year | SoCNE | (1,175) | 0 | (1,175) |
| Net parliamentary funding | 971 | 0 | 971 | |
| Adj to Revaluation Reserve for Excess Depreciation | 10 | (10) | 0 | |
| Balance at 31 March 2024 | 3,513 | 16 | 3,529 | |
2022-2023 |
||||
| Balance at 1 April 2022 | 4,139 | 6 | 4,145 | |
| Changes in taxpayers' equity for 2022-23 | ||||
| Revaluation gains and losses | note 5, note 6 | 0 | 18 | 18 |
| Auditor's remuneration | note 3 | 47 | 0 | 47 |
| Total expenditure for the year | SoCNE | (173) | 0 | (173) |
| Net parliamentary funding | (359) | 0 | (359) | |
| Adj to Revaluation Reserve for Excess Depreciation | 3 | (3) | 0 | |
| Balance at 31 March 2023 | 3,657 | 21 | 3,678 | |
The notes to the accounts form part of this statement