SCOTLAND in Union is continuing to grow, its chief executive has said – but its finances have taken a nosedive.

Former Labour MP Pamela Nash, who succeeded ex-MSP Graeme Pearson last August, said membership of the unionist organisation is higher than ever before.

However, official accounts show its capital and reserves tumbled by almost 50% in the 12 months to the end of November last year.

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The papers were authorised by the board on August 10 and are the first to be lodged by the body at Companies House without an accompanying accountant’s report.

They record a fall from almost £313,300 to around £170,000 over the period covered, which is before internal documents containing names, addresses and funds given by donors were released into the public domain.

The National was amongst organisations to report on the leak, which prompted a report to police.

However, the same data was released again in error when the Electoral Commission supplied it under Freedom of Information laws, but failed to redact details.

Meanwhile, Scotland in Union circulated a fundraising email to supporters just weeks after the conclusion of the financial year, telling recipients: “We really need your help.”

The organisation stated that just 2% of its 25,000 backers give their cash, raising questions about its ability to continue.

Nash told The Herald: “The number of Scotland in Union supporters is at a record high and continues to grow.

“We greatly appreciate all of the donations, large and small, we receive from ordinary Scots who do not want to see another divisive referendum and, as as a result, support for Scottish independence remains at a low.

“Even though Nicola Sturgeon is now backing away from indyref2, we cannot afford to be complacent and we are delighted so many people are still backing our campaign, allowing us to take our message about why we are better off in the UK to every part of Scotland.”

Meanwhile, the SNP’s George Adam MSP said: “In a strange way, Scotland in Union have become the perfect embodiment of the UK itself – declining support, increasingly erratic leadership and seemingly a pretty grim financial outlook.

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“As more and more people realise the benefits of taking decisions for ourselves with independence, Scotland in Union will continue its downwards slide into irrelevance.”

Yesterday the Electoral Commission published the latest data on donations to political parties.

A total of around £8,459,100 was collected by 12 different parties between April 1 and June 30 this year, according to reports.

The figure for quarter two is £1.5 million up on the previous three months.

Theresa May’s Tories took the lion’s share, accepting £4,880,200.

This is more than double Labour’s take of £2,121,200.

In third place, the LibDems collected £594,900, while the Co-operative Party declared £489,000.

For the SNP, the figure was £62,100, which is around half of the £114,000 pledged to UKIP.

Six parties also accepted a total of more than £4.8m in public funds.