Gilmour had been accused of stealing a mannequin leg, but that charge was later withdrawn.
He has pleaded guilty to taking part in the riot but the details of the specific offences are yet to be agreed between the Crown and the defence team.
Judge Nicholas Price, QC, granted Gilmour conditional bail ahead of sentencing so he can complete his second year exams at Cambridge.
But he warned him that he could still face a prison term when he returns to court for sentencing on July 8.
He said: "The fact that I am granting you bail is of no indication whatsoever that you will be dealt with in a non-custodial way.
"You must understand that your plea of guilty to violent disorder is a serious matter and it may be that the proper course would be one of immediate custody."
Gilmour, who is studying history at Girton College, Cambridge, was among thousands of people who protested in the capital on December 9 over Government plans for university tuition fees.
He sparked widespread anger however when an image of him swinging from the Cenotaph appeared in the national press.
The day after the riots he issued an apology, describing it as a "moment of idiocy".
In a statement he said: "I feel nothing but shame. My intention was not to attack or defile the Cenotaph. Running along with a crowd of people who had just been violently repelled by the police, I got caught up in the spirit of the moment."
Gilmour's biological father is poet and playwright Heathcote Williams but he was adopted by the rock star when his mother, writer and journalist Polly Samson, remarried.