BHRUT annual report 2009 - Barking Havering and Redbridge ...

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Annual Report & Accounts 2009-2010 39 Statement of Cash Flows for the year ended 31 March 2010 2009/10 2008/09 NOTE £000 £000 Cash flows from operating activities Operating surplus/(deficit) (34,960) (25,568) Depreciation and amortisation 12,677 12,999 Impairments and reversals 31,834 24,900 Net foreign exchange gains/(losses) 0 0 Transfer from donated asset reserve (109) (141) Transfer from government grant reserve 0 0 Interest paid (19,919) (20,651) Dividends paid (4,423) (8,059) (Increase)/decrease in inventories (425) (24) (Increase)/decrease in trade and other receivables 19,432 (6,212) (Increase)/decrease in other current assets 0 0 Increase/(decrease) in trade and other payables 6,380 4,589 Increase/(decrease) in other current liabilities 0 0 Increase/(decrease) in provisions 35 (673) (471) Net cash inflow/(outflow) from operating activities 9,814 (18,638) Cash flows from investing activities Interest received 1,241 414 (Payments) for property, plant and equipment 17 (10,951) 0 Proceeds from disposal of plant, property and equipment 16,224 16,300 (Payments) for intangible assets 18 (2,231) (1,368) Proceeds from disposal of intangible assets 0 0 (Payments) for investments with DH 0 0 (Payments) for other investments 0 0 Proceeds from disposal of investments with DH 0 0 Proceeds from disposal of other financial assets 0 0 Revenue rental income 0 0 Net cash inflow/(outflow) from investing activities 4,284 15,346 Net cash inflow/(outflow) before financing 14,098 (3,292) Cash flows from financing activities Public dividend capital received 5,000 29,340 Public dividend capital repaid (14,199) (16,300) Loans received from the DH 0 0 Other loans received 0 0 Loans repaid to the DH 0 0 Other loans repaid 0 0 Other capital receipts 0 0 Capital element of finance leases and PFI (4,171) (10,149) Cash transferred to NHS Foundation Trusts 0 0 Net cash inflow/(outflow) from financing (13,370) 2,891 Net increase/(decrease) in cash and cash equivalents 728 (401) Cash (and) cash equivalents (and bank overdrafts) at the beginning of the financial year 1,370 1,771 Effect of exchange rate changes on the balance of cash held in foreign currencies 0 0 Cash (and) cash equivalents (and bank overdrafts) at the end of the financial year 25 2,098 1,370 Annual Accounts
40 Barking, Havering & Redbridge University Hospitals NHS Trust Notes to the Accounts 1. Accounting Policies The Secretary of State for Health has directed that the financial statements of NHS Trusts shall meet the accounting requirements of the NHS Trusts Manual for Accounts, which shall be agreed with HM Treasury. Consequently, the following financial statements have been prepared in accordance with the 2009/10 NHS Trusts Manual for Accounts issued by the Department of Health. The accounting policies contained in that manual follow International Financial Reporting Standards to the extent that they are meaningful and appropriate to the NHS, as determined by HM Treasury, which is advised by the Financial Reporting Advisory Board. Where the NHS Trusts Manual for Accounts permits a choice of accounting policy, the accounting policy which is judged to be most appropriate to the particular circumstances of the trust for the purpose of giving a true and fair view has been selected. The particular policies adopted by the trust are described below. They have been applied consistently in dealing with items considered material in relation to the accounts. 1.1 Accounting convention These accounts have been prepared under the historical cost convention modified to account for the revaluation of property, plant and equipment, intangible assets, inventories and certain financial assets and financial liabilities 1.2 Acquisitions and discontinued operations Activities are considered to be ‘acquired’ only if they are taken on from outside the public sector. Activities are considered to be ‘discontinued’ only if they cease entirely. They are not considered to be ‘discontinued’ if they transfer from one public sector body to another. 1.3 Care Trust designation The Trust is not designated as a Care Trust due to joint activities. 1.4 Pooled Budgets The Trust has no pooled budgets. 1.5 Critical accounting judgements and key sources of estimation uncertainty In the application of the Trust’s accounting policies, management is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates and the estimates and underlying assumptions are continually reviewed. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. 1.5.1 Critical judgements in applying accounting policies The following are the critical judgements, apart from those involving estimations (see below) that management has made in the process of applying the Trust’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements. The management make judgements in terms of approving new capital investment and variations to the PFI Assets to maintain or enhance its asset base. As part of the NHS contracting process the Trust makes judgements on the resource base required to Annual Accounts
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BHRUT annual report 2009 - Barking Havering and Redbridge ...

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