2019 - 2020

1. The Queen's and Lord Treasurer's Remembrancer (QLTR) is the Crown’s representative in Scotland with authority to deal with property falling to the Crown by operation of law. This includes the land, assets and other rights of dissolved companies, the estates of individuals who die leaving no heirs, and treasure found in Scotland.
2. The post is held by the Crown Agent, David Harvie, who is supported in this role by a small department of 6 officials.
3. The QLTR department is entirely self-funding and its net receipts are paid over to the Scottish Consolidated Fund, following deduction of its expenses and running costs.

Aim and Objectives 

4. The QLTR department works to achieve the effective administration of the Queen’s and Lord Treasurer’s Remembrancer’s functions so that public enquiries and transactions are promptly and appropriately dealt with.

Principal Activities 

5. The QLTR department’s principal activities are:

• administering the property of individuals who die heirless by ingathering funds, paying debts, disposing of heritage and advertising where appropriate for blood relatives;
• dealing with land, assets and other rights falling to the Crown under the Companies Acts, the property of missing persons and land where an owner cannot be identified. The QLTR has a broad discretion when property falls to the Crown in this way. Where it is not viable to try to sell a particular asset, right or land, the QLTR may waive the Crown’s rights to it by a process known as “disclaiming” the Crown interest. When this happens, a notice is published in the Gazette and, for company property, registered at Companies House;
• administering finds of treasure in Scotland, ingathering award payments and making payments to finders.

Financial Performance

6. The QLTR had net receipts from operations in 2019-20 of £6.5m (2018-19:

£6.1m). Net receipts after all payments and administration costs were £5.9m

(2018-19: £5.5m). In 2019-20, £7.4m was paid to the Scottish Consolidated

Fund (SCF) (2018-19: £4.0m) of this £1.5m related to the previous year. The

QLTR’s business is reactive and the receipts therefore vary from year to year. The QLTR operates a reserve in order to be able to meet claims for returns of funds and proceeds of sales of property by the QLTR. This can happen, for example, in cases where a company is restored to the register or where a legitimate claim is established to an individual’s estate. The reserve remains at £2.5m. 

Operational Performance

7. The table below provides highlights of the QLTR department’s operational performance for the financial years from 2018-19 to 2019-20:

NOTE: £1.5m paid to the Scottish Consolidated Fund relates to 18/19.

8. Generally, the nature of QLTR’s business is reactive and relies on funds and cases being remitted and reported to the QLTR department. This is also the case for finds of treasure, reported to the Treasure Trove Unit and for cases referred to the QLTR by the National Ultimus Haeres Unit (see section [5]) “NUHU”. That said, we would note the increase in the number of heirless estates received and claimed in this financial year compared with the previous year. This in part, is due to a number of improvements by NUHU in the financial year to their processes and practices, including increasing their capacity. These changes have included more outreach work by NUHU with our public sector partners such as local authorities and the Police, and NUHU have also worked to clear a backlog of cases. These improvements have, in turn, contributed to an increase in the number of cases referred to the QLTR by NUHU, and so the number of heirless estates claimed. The operational performance figures for each of these areas will otherwise vary from year to year.
9. The payments made to the Scottish Consolidated Fund and how the figure to be transferred is arrived at, is discussed in paragraphs 38 and 39.

Key Risk

10. The key risk for the QLTR relates to having sufficient funds available to settle claims in the financial year. The arrangements to ensure this are detailed below.
11. For estates of individuals who die heirless, the QLTR will hold the estate realised for 5 years after administration has been completed. That is based upon the department’s experience that the estates are very often claimed within that period as genealogists trace relatives in return for a share of the estate. A claim after more than 5 years is rare.  Only after that period has expired without a claim would the estate held be included in what is handed over to the SCF.
12. To cover the possibility of claims being brought beyond those 5 years, and to cover the possibility of claims being brought in any financial year in respect of any other matter the QLTR may deal with, the QLTR retains a reserve (also noted at paragraph 6 above) of accrued resources of £2.5 million. By way of example, if a dissolved company is restored to the Companies Register then the QLTR would repay such sums that are held from its bank account. The amount paid over to the SCF after each quarter end is therefore the excess over the £2.5m balance.
13. The QLTR has no financial liabilities arising from finds of treasure. Where finds are allocated to a museum, the amount paid to the finder is found by the museum itself. The QLTR’s role in this regard is limited to acting as the conduit for passing the funds to the finder.

Payment policy 

14. The QLTR requires that all suppliers’ invoices not in dispute are paid within the terms of the relevant contract. We aim to have 100% of invoices, including disputed invoices once the dispute has been settled, paid on time in these terms. Moreover, the Scottish Government has set a 30 day payment performance target with an aspiration to pay within 10 working days of receipt. Suppliers' invoices are paid by the Crown Office and Procurator Fiscal Service which then recharges the QLTR (see Note 5). In 2019-20, performance against the 30 day target was 99% (2018-19: 98%).  The QLTR aspires to pay all undisputed invoices within 10 days. During 2019-20, the QLTR paid 95% within the 10 day aspiration period (2018-19: 91%). In 2019-20, in line with the government policy, no interest was paid under the terms of the Late Payment of Commercial Debt (Interest) Act.

Environmental and Sustainability

15. The QLTR rents office space at Victoria Quay from the Scottish Government, which adheres to the Scottish Government environmental policies applicable to the office.

Robert Sandeman 

Accountable Officer

REMUNERATION AND STAFF REPORT

Employment Policies

16. The QLTR does not employ staff directly. All staff are seconded to QLTR from the Crown Office and Procurator Fiscal Service (COPFS).
17. The QLTR department does not have its own policies on the employment of people with disabilities, staff relations or equal opportunities but follows the practices in force in COPFS. These are set out in the annual report and accounts of COPFS which can be found on the COPFS website http://www.copfs.gov.uk.

Remuneration

18. Staff who are seconded to the QLTR department are paid at the rates in force for COPFS during the time of their secondments.

Senior Officials

19. The Queen’s and Lord Treasurer’s Remembrancer is a Non-Ministerial officeholder in the Scottish Administration. This post is currently held by David Harvie. A recharge of 5% of his time has been made to reflect his time associated with his role as the Queen’s and Lord Treasurer’s Remembrancer. The recharge from COPFS for the Crown Agent’s time was £8,855 (2018-19: £8,511).
20. Robert Sandeman is the Accountable Officer.
21. The Senior Officials’ salaries are detailed below:

18/19 (10^th December 2018 – 31^st March 2019)

Note: The value of pension benefits accrued during the year is calculated as (the real increase in pension multiplied by 20) less (the contributions made by the individual).  The real increase excludes increases due to inflation or any increase or decrease due to a transfer of pension rights.

Pensions

22. COPFS and the Scottish Government are the employers for QLTR staff and as such administer their pensions.
23. The Senior Officials’ pensions are detailed below:

   

           

Staff Numbers and Costs

24. Total staff costs charged for the QLTR are split as follows:

Note: These costs are recharged by COPFS quarterly in arrears. 

Fair Pay

25. As at 31 March 2020, the QLTR department employed six Whole Time Equivalent (WTE) staff (2018-19: 5 WTE). Three WTE are female and three WTE are male (2018-19: 3 WTE female, 2 WTE male). The Median pay for the QLTR department is £37,973 (2018-19: £39,780). 
26. In the year to 31 March 2020, the QLTR department lost 2.3% of total available working days to sickness (2018-19: 0%).
27. There was no expenditure on consultancy during 2019-20 or 2018-19.
28. There were no exit packages in 2019-20 or 2018-19.
29. There was no recharge from COPFS for Non-Executive Directors, who were all members of the COPFS/QLTR Audit and Risk Committee.

STATEMENT OF THE ACCOUNTABLE OFFICER’S RESPONSIBILITIES 

30. Under the accounts direction issued under section 19(4) of the Public Finance and Accountability (Scotland) Act 2000, the Queen’s and Lord Treasurer’s Remembrancer is required to prepare accounts for each financial year detailing the resources acquired, held or disposed of during the year and the use of resources by the QLTR during the year.
31. The accounts are prepared on a receipts and payments basis and must properly present the state of affairs of the QLTR.
32. In preparing the accounts the Accountable Officer is required to comply with the Scottish Public Finance Manual and in particular to:
    • observe the accounts direction issued by the Scottish Ministers in accordance with section 19(4) of the Public Finance and Accountability (Scotland) Act 2000 including the relevant accounting and disclosure requirements, and apply suitable accounting policies on a consistent basis;
    • make judgements and estimates on a reasonable basis;
    • state whether applicable accounting standards as set out in the Government Financial Reporting Manual have been followed and disclose and explain any material departures in the accounts; and
    • prepare the accounts on a receipts and payments basis.
33. The Principal Accountable Officer for the Scottish Government has appointed the Solicitor for the QLTR as Accountable Officer.
34. The responsibilities of an Accountable Officer, including responsibility for the propriety and regularity of the public finances for which the Accountable Officer is answerable, for keeping proper records and for safeguarding the QLTR’s assets, are set out in the ‘Memorandum to Accountable Officers’ from the Principal Accountable Officer.
35. I confirm that as far as I am aware, there is no relevant audit information of which the auditors are unaware, and I have taken all the steps that I ought to have taken to make myself aware of any relevant audit information and to establish that the auditors were aware of that information.
36. I confirm that the annual report and accounts as a whole is fair, balanced and understandable and take responsibility for the annual report and accounts and the judgements required for determining that it is fair, balanced and understandable.

PARLIAMENTARY ACCOUNTABILITY REPORT

Receipts & Payments        

37. Receipts arise from the ingathering of funds from heirless personal estates; from other funds remitted to the QLTR falling to the Crown by operation of law such as the bank accounts of dissolved companies; and from proceeds of sale by the QLTR of property, assets and other rights claimed by the QLTR on behalf of the Crown.
38. Due to increases in claims of heirless estates gathered in previous years, from 2011-12 onwards balances are retained for potential liabilities from the last 5 years. A reserve of £2.5 million is held against these, and other, potential liabilities and any surplus over that figure is surrendered quarterly to the Scottish Consolidated Fund.
39. All receipts and subsequent transfers to the Scottish Consolidated Fund or beneficiaries are made in accordance with our Accounts Direction by the Scottish Ministers.

Financial Performance

40. The financial performance of the QLTR is considered at paragraph 6 of these financial statements.

 

GOVERNANCE STATEMENT

Scope of Responsibility

41. As Accountable Officer for the Queen’s and Lord Treasurer’s Remembrancer, I have responsibility for maintaining an adequate and effective system of internal control, which supports the achievement of the Queen’s and Lord Treasurer’s Remembrancer’s aims, objectives and policies, whilst safeguarding the public funds and the Queen’s and Lord Treasurer’s Remembrancer’s assets for which I am personally responsible, in accordance with the responsibilities assigned to me.
42. The Scottish Public Finance Manual (SPFM) is issued by the Scottish Ministers to provide guidance to the Scottish Government and other relevant bodies on the proper handling of public funds. It sets out the relevant statutory, parliamentary and administrative requirements, emphasises the need for economy, efficiency, effectiveness and equality, and promotes good practice and high standards of propriety.

Purpose of the Governance Framework

43. The QLTR’s Governance Framework comprises the systems, processes, culture and values by which it is directed and controlled. It enables the organisation to monitor the achievement of its strategic objectives and to consider whether those objectives have led to the delivery of appropriate services and value for money.
44. The system of internal control is a significant part of that framework and is designed to manage risk to a reasonable level. It cannot eliminate all risk of failure to achieve policies, aims and objectives and can therefore only provide reasonable and not absolute assurance of effectiveness. The system of internal control is based on an ongoing process designed to identify and prioritise the risks to the achievement of the QLTR’s policies aims and objectives, to evaluate the likelihood and potential impact of those risks being realised, and to manage them efficiently, effectively and economically.
45. The process within the organisation accords with guidance from Scottish Ministers in the SPFM and has been in place for the financial year to which the annual report and accounts relate and up to the date of their approval.

Audit and Risk Committee 

46. The QLTR has a shared Audit and Risk Committee with COPFS, whose members are all Non-Executive Members. The Audit and Risk Committee supports the Accountable Officers (COPFS and QLTR) in their responsibilities for issues of risk, control and governance over their respective organisations. This includes reviewing the comprehensiveness of assurances in meeting the Accountable Officer’s assurance needs and reviewing the reliability and integrity of these assurances.  In formal terms, the Audit and Risk Committee reports annually to the overarching Scottish Government Audit and Assurance Committee (SGAAC).  As at 31 March 2020, The Audit and Risk Committee had three Non-Executive Members.  The Committee met five times during 2019-20.  No relevant interests required to be disclosed. 
47. The QLTR operates risk management strategies in accordance with the Scottish Public Finance Manual.
48. The QLTR is committed to a process of continuous development and improvement, and we continue to develop our processes and respond to developments in best practice in this area.

Counter fraud activity

49. The QLTR does not have its own policies on counter fraud and anti-bribery but follows the practices in force in COPFS. These are set out in the annual report and accounts of COPFS which can be found on the COPFS website http://www.copfs.gov.uk

Review of Adequacy and Effectiveness

50. As Accountable Officer, I also have responsibility for reviewing the effectiveness of the system of internal control. My review is informed by:
    • the work of the internal auditors, who submit reports which include Internal Audit’s independent opinion on the adequacy and effectiveness of the systems of internal control together with recommendations for improvement and from QLTR’s utilisation of COPFS systems and processes;
    • comments made by the external auditors in their management letter and other reports;
    • reports from managers on the steps they are taking to manage risks in their areas of responsibility including progress reports on key objectives;
    • monthly meetings with appropriate QLTR staff to discuss relevant issues; and
    • An Audit and Risk Committee whose membership is comprised entirely of Non-Executive Directors, one of whom chairs the meetings and reports to the relevant Scottish Government Audit and Assurance Committee on any significant problems with wider implications.
51. Appropriate action is in train to address any weaknesses identified and to ensure the continuous improvement of the system.

Significant Governance Issues

52. There were no significant governance issues during 2019-20 or 2018-19.
53. There were no significant personal data related incidents reported in 2019-20 or 2018-19.

Conclusion

54. During the financial year, no significant control weaknesses or issues have arisen, and no significant failures have arisen in the expected standards for good governance, risk management and control. As Accountable Officer, I am satisfied with the adequacy of the internal control and governance arrangements of the QLTR.
55. The Accountable Officer authorised these financial statements for issue on the 3rd July 2020.

   

Robert Sandeman

Accountable Officer

           

Independent auditor’s report 

REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS Opinion on financial statements

I have audited the financial statements in the annual report and accounts of the Queen's and Lord Treasurer's Remembrancer for the year ended 31 March 2020 under the Public Finance and Accountability (Scotland) Act 2000. The financial statements comprise the Receipts and Payments Account, Summary Note of Balances Held and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and the receipts and payments basis.

In my opinion the accompanying financial statements;

• properly present in accordance with the Public Finance and Accountability (Scotland) Act 2000 and directions made thereunder by the Scottish Ministers the receipts and payments of the body for the year ended 31 March 2020 and the balances held at that date; and
• have been prepared in accordance with the requirements of the Public Finance and Accountability (Scotland) Act 2000 and directions made thereunder by the Scottish Ministers.

Basis for opinion

I conducted my audit in accordance with applicable law and International Standards on Auditing (UK) (ISAs (UK)), as required by the Code of Audit Practice approved by the Auditor General for Scotland. My responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of my report. I was appointed by the Auditor General on 5 March 2020. The period of total uninterrupted appointment is 1 year. I am independent of the body in accordance with the ethical requirements that are relevant to my audit of the financial statements in the UK including the Financial Reporting Council’s Ethical Standard, and I have fulfilled my other ethical responsibilities in accordance with these requirements. Non-audit services prohibited by the Ethical Standard were not provided to the body. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.

Risks of material misstatement

I have reported in a separate Annual Audit Report, which is available from the Audit Scotland website, the most significant assessed risks of material misstatement that I identified and my conclusions thereon.

Responsibilities of the Accountable Officer for the financial statements

As explained more fully in the Statement of the Accountable Officer’s

Responsibilities, the Accountable Officer is responsible for the preparation and proper presentation of financial statements in accordance with the financial reporting framework, and for such internal control as the Accountable Officer determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s responsibilities for the audit of the financial statements

My objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes my opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, intentional omissions, misrepresentations, or the override of internal control. The capability of the audit to detect fraud and other irregularities depends on factors such as the skilfulness of the perpetrator, the frequency and extent of manipulation, the degree of collusion involved, the relative size of individual amounts manipulated, and the seniority of those individuals involved. I therefore design and perform audit procedures which respond to the assessed risks of material misstatement due to fraud.

A further description of the auditor’s responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website

www.frc.org.uk/auditorsresponsibilities. This description forms part of my auditor’s report.

Other information in the annual report and accounts

The Accountable Officer is responsible for the other information in the annual report and accounts. The other information comprises the information other than the financial statements, the audited part of the Remuneration and Staff Report, and my auditor’s report thereon. My opinion on the financial statements does not cover the other information and I do not express any form of assurance conclusion thereon except on matters prescribed by the Auditor General for Scotland to the extent explicitly stated later in this report.

In connection with my audit of the financial statements, my responsibility is to read all the other information in the annual report and accounts and, in doing so, consider whether the other information is materially inconsistent with the financial statements or my knowledge obtained in the audit or otherwise appears to be materially misstated. If I identify such material inconsistencies or apparent material misstatements, I am required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work I have performed, I conclude that there is a material misstatement of this other information, I am required to report that fact. I have nothing to report in this regard.

REPORT ON REGULARITY OF RECEIPTS AND PAYMENTS Opinion on regularity

In my opinion in all material respects, the receipts and payments in the financial statements were incurred or applied in accordance with any applicable enactments and guidance issued by the Scottish Ministers, the Budget (Scotland) Act covering the financial year and sections 4 to 7 of the Public Finance and Accountability (Scotland) Act 2000.

Responsibilities for regularity

The Accountable Officer is responsible for ensuring the regularity of receipts and payments. I am responsible for expressing an opinion on the regularity of receipts and payments in accordance with the Public Finance and Accountability (Scotland) Act 2000.

REPORT ON OTHER REQUIREMENTS Opinions on matters prescribed by the Auditor General for Scotland

In my opinion, the audited part of the Remuneration and Staff Report has been properly prepared in accordance with the Public Finance and Accountability (Scotland) Act 2000 and directions made thereunder by the Scottish Ministers.

In my opinion, based on the work undertaken in the course of the audit;

• the information given in the Performance Report for the financial year for which the financial statements are prepared is consistent with the financial statements and that report has been prepared in accordance with the Public Finance and Accountability (Scotland) Act 2000 and directions made thereunder by the Scottish Ministers; and
• the information given in the Governance Statement for the financial year for which the financial statements are prepared is consistent with the financial statements and that report has been prepared in accordance with the Public Finance and Accountability (Scotland) Act 2000 and directions made thereunder by the Scottish Ministers.

Matters on which I am required to report by exception

I am required by the Auditor General for Scotland to report to you if, in my opinion: • adequate accounting records have not been kept; or

• the financial statements and the audited part of the Remuneration and Staff Report are not in agreement with the accounting records; or
• I have not received all the information and explanations I require for my audit.

I have nothing to report in respect of these matters.

Conclusions on wider scope responsibilities

In addition to my responsibilities for the annual report and accounts, my conclusions on the wider scope responsibilities specified in the Code of Audit Practice are set out in my Annual Audit Report.

USE OF MY REPORT

This report is made solely to the parties to whom it is addressed in accordance with the Public Finance and Accountability (Scotland) Act 2000 and for no other purpose. In accordance with paragraph 120 of the Code of Audit Practice, I do not undertake to have responsibilities to members or officers, in their individual capacities, or to third parties.

  

Esther Scoburgh

Audit Scotland

102 West Port

Edinburgh

EH3 9DN 3rd July 2020

           

RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2020

 

*Staffing and Remuneration Report (pages 6-8).

The above statement has been prepared on a cash basis. Audit fees of £4,060 (2018-19: £3,990) are notional/non cash and therefore are in addition to the administrative costs outlined above. 

SUMMARY NOTE OF BALANCES HELD AT 31ST MARCH 2020

* This is income received in the bank prior to 31st March, not yet allocated.

The notes on pages 19-21 form part of these accounts.

The Accountable Officer authorised these financial statements for issue on the 3rd of   July 2020.

  

Robert Sandeman

Accountable Officer 

           

NOTES TO THE ACCOUNTS

1. Statement of Accounting Policies

In accordance with the accounts direction issued by the Scottish Ministers under section 19(4) of the Public Finance and Accountability (Scotland) Act 2000 these accounts have been prepared in compliance with the relevant principles and disclosure requirements of the Scottish Public Finance Manual. The particular accounting policies adopted by the QLTR are described below. They have been applied consistently in dealing with items considered material in relation to the accounts.

The accounts are prepared using accounting policies, and, where necessary, estimation techniques, which are selected as the most appropriate for the purpose of properly presenting the expenditure and receipts in accordance with the principles, set out in International Financial Reporting Standard (IFRS) 18 Accounting Policies. 

• Accounting Convention

These accounts have been prepared in accordance with the historic cost convention. As in previous years, income and expenditure are recognised on the basis of cash received and paid out. 

• Going Concern

A going concern approach has been adopted in the preparation of these financial statements. 

1.3      Basis of Accounting

These accounts reflect the receipts and payments and a summary of the balances held for the year of the QLTR. 

1.4      Tangible Fixed Assets

The only tangible assets utilised by the QLTR are computer equipment and these are accounted for by the COPFS. 

1.5      Foreign Exchange

Transactions which are denominated in a foreign currency are translated into sterling at the exchange rate ruling on the date of each transaction.            

1.6      Value Added Tax (VAT)

The majority of services provided by the QLTR fall out-with the scope of VAT. The QLTR is not separately registered for VAT but recovers VAT on certain contractedout services via the COPFS. 

           

2.        Office and Administration Costs

 

Note: During 2019-2020, QLTR department agreed a reduction in its accommodation costs with Scottish Government following relocation of the department within the Victoria Quay building during the accounting year. The new location of the office makes more efficient use of storage and floor space.

3.        Disposal of Assets

Disposal of assets falling to the Crown either at common law or statute has been in a manner consistent with the Scottish Public Finance Manual, for the benefit of the Scottish Consolidated Fund.

4.        Contingent Liabilities

The QLTR receives claims for which, due to their nature, no figure can be disclosed. These payments are accounted for when the payments are made. Liabilities may also arise in respect of property where a Crown interest may arise and where a disclaimer of the Crown interest is no longer available and a disposal has not proved possible.  Due to their nature it is not possible to show a figure of what the liability might be and they will be accounted for if and when any payment is made.

5.        Related Party Transactions

COPFS, which is headed by the QLTR in his capacity as Crown Agent, processes administrative payments on behalf of the QLTR.  

COPFS then recharge the QLTR for all payments made on their behalf. 

A unit within the COPFS (known as the National Ultimus Haeres Unit) undertakes initial investigation work where individuals have died in non-suspicious circumstances, and have been identified as possibly having no next of kin or heirs. As the Crown ultimately will have an interest in any estate where no heirs have been established, NUHU’s costs are recovered by COPFS from the QLTR. 

None of the Senior Officers or staff entered into transactions with the QLTR during the year.      

6.        Audit fee

The accounts of the QLTR are audited by auditors appointed by the Auditor General for Scotland. Audit Scotland carried out the audit of the QLTR’s accounts for the financial year ended 31 March 2020. 

The notional audit fees applied for services during the year 2019-20 was £4,060.                                                                  

           

DIRECTION BY THE SCOTTISH MINISTERS

Queen's & Lord Treasurer's Remembrancer DIRECTION BY THE SCOTTISH MINISTERS

in accordance with section 19(4) of the Public Finance and Accountability (Scotland) Act 2000

1. An account of the Queen's & Lord Treasurer's Remembrancer for the year ended 31 March 2013 and subsequent years shall be prepared, in the form of an Annual Report, and shall include a receipts and payments account and a summary note of balances held.
2. The accounts shall comply with the relevant accounting principles and disclosure requirements of the edition of the Scottish Public Finance Manual in force for that period.
3. This direction shall be reproduced as an appendix to the statement of accounts.

Signed by the authority of the Scottish Ministers

 

 

Dated 29 August 2013