Annual Report and Accounts 2021 to 2022
15. Consolidated Fund income
The Commission held the following assets on Consolidated Fund Income at 31 March 2022.
|Fines and penalties||22,222||12,857|
|Recovery of costs||(242)||(127)|
|Amount payable to the Consolidated Fund||21,980||12,730|
|Balance held at the start of the year||11,270||1,635|
|Payments into the Consolidated Fund||(10,926)||(3,095)|
|Balance held on trust at the end of the year||22,324||11,270|
As per the FReM 11.3.9, Fines and penalties are recognised at the time that the fine or penalty is imposed and becomes receivable by the entity and should be disclosed as the total amount repayable to the Consolidated Fund at the point the enforcement notice is raised and then derecognised if the penalty is appealed successfully.
As set out in Note 1n, Statement of accounting policies, Treatment of penalty packages, income payable to the Consolidated Fund does not form part of the Statement of Comprehensive Net Expenditure. The amounts receivable for Fines and Penalties at 31 March 2022 were £12.171 million (2020/21: £3.095 million) and the amounts payable for Fines and Penalties were £10.926 million (2020/21: £3.095 million). The balance held on trust at the end of the year figure at the year-end date includes all Fines and Penalties Payments unpaid at that date. These include payables in relation to fines recovered due to be surrendered to HMT (£1,245,363).
* 2020-21 numbers are restated, further information is included in Note 2 of the accounts, Prior period adjustments and reclassifications.
14. Retirement benefit obligations Next section
16. Capital commitments
Last updated: 31 August 2022
Show updates to this content
No changes to show.