our performance
our performance
Statutory background
VisitScotland is an executive non-departmental public body which operates within the terms of a management statement and financial memorandum agreed with its sponsor department at the Scottish Government. It was established under the Development of Tourism Act 1969. The annual report and accounts include the accounts for both VisitScotland and the VisitScotland Group. The VisitScotland Group comprises three subsidiary limited companies: Scottish Tourist Board Ltd, Tourist Board Training Ltd and eTourism Ltd. eTourism Ltd became a wholly owned subsidiary during the year, having been an associate company until December 2008. During the year the assets of a further subsidiary, TourCo Ltd, were transferred to VisitScotland and TourCo Ltd is now dormant.
The accounts have been prepared in accordance with a direction given by the Scottish Ministers in accordance with Section 6(1) of the Development of Tourism Act 1969. VisitScotland?s accounts are audited by KPMG LLP, the auditors appointed by the Auditor General for Scotland, in accordance with Section 6(4) of the Development of Tourism Act 1969.
- Visit Scotland Annual Report
and Accounts 2009 (Full) - Visit Scotland Annual Report
and Accounts 2009 - Independent Auditor's Report
- Notes on the accounts
Some financial highlights
Income
Expenditure
VisitScotland was allocated a total of £47,810,000 revenue grant in aid in 2008-09. This is a small decrease of £250,000 compared to last year.
Commercial income from advertising, marketing opportunities, quality schemes and other activities declined slightly to £8,404,000, reflecting the challenging economic environment in which businesses were operating.
A substantial contribution is also made to income by local authorities and the European Regional Development Fund, with grants from Europe increasing to £2,319,000 this year.
Savings achieved in the last two years have again been retained and supplemented with further efficiency savings resulting from a reduction in salaries following restructuring this year, a number of shared property initiatives implemented in the year and procurement saving, mainly in the area of media contracts. Under the Efficient Government initiative the current year target was in the range of £1.2 million to £1.76 million, with £1.76 million being achieved in the year.
A total of £864,000 has been spent on additions to fixed assets. The main additions have been upgrades for IT equipment and software of £166,000 and £358,000 for refurbishment and improvements at a number of information centres and local offices.
| 2007-08 | 2008-2009 | ||
| Income | £m | £m | |
|---|---|---|---|
| Grant in aid | 48.060 | 47.810 | |
| Commmercial Activities | 9.122 | 8.404 | |
| Local Authority Funding | 6.264 | 5.474 | |
| Retail Income | 5.061 | 4.438 | |
| Other income | 1.412 | 2.428 | |
| Total income | 69.919 | 68.554 |
| 2007-08 | 2008-2009 | ||
| Expenditure | £m | £m | |
|---|---|---|---|
| Staff Costs | 24.357 | 20.977 | |
| Commercial Marketing Activities | 29.473 | 28.756 | |
| Other operating costs | 14.457 | 10.677 | |
| EventScotland | 4.572 | 8.762 | |
| Total Expenditure | 72.859 | 69.172 |