VisitScotland Report & Accounts 2001-2002

Application of the Accounting and Disclosure Requirements of the Companies Act and Accounting Standards Companies Act
1	The disclosure exemptions permitted by the Companies Act shall not apply.
2	The Companies Act requires certain information to be disclosed in the Director’s Report. To the extent that it is appropriate, the equivalent information relating to Scottish Tourist Board shall be contained in the foreword.
3	When preparing its income and expenditure account the Scottish Tourist Board shall have regard to the profit and loss account format 2 prescribed in Schedule 4 to the Companies Act.
4	When preparing its balance sheet the Scottish Tourist Board shall have regard to the balance sheet form at 1 prescribed in Schedule 4 to the Companies Act.
5	The Scottish Tourist Board is not required to provide the additional information required by paragraph 33(3) of Schedule 4 to the Companies Act.
6	The foreword and balance sheet shall be signed and dated by the Scottish Tourist Board’s Accountable Officer.
7	The Scottish Tourist Board is not required to include a note showing historical cost profits and losses as described in FRS3.
8	The Scottish Tourist Board shall not adopt the Financial Reporting Standard for Smaller Entities.

Additional Disclosure Requirements

1

The foreword shall, inter alia:

1.1	state that the statement of accounts have been prepared in a form directed by the Scottish Ministers in accordance with Section 6(1) of the Development of Tourism Act 1969.
1.2	include a brief history of the Scottish Tourist Board and its statutory background.

2

The notes to the accounts shall include:

2.1	details of any key corporate financial targets set by the Scottish Ministers together with an indication of the performance achieved, and
2.2	details of the pension arrangements operated by the Scottish Tourist Board and confirmation that the scheme accords with the guidance contained in “Non-Departmental Public Bodies: A Guide for Departments”.