BHRUT annual report 2009 - Barking Havering and Redbridge ...
BHRUT annual report 2009 - Barking Havering and Redbridge ...
BHRUT annual report 2009 - Barking Havering and Redbridge ...
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78<br />
<strong>Barking</strong>, <strong>Havering</strong> & <strong>Redbridge</strong> University Hospitals NHS Trust<br />
38. Events after the <strong>report</strong>ing period<br />
There are no events after the <strong>report</strong>ing period.<br />
39. Financial performance targets<br />
The figures given for periods prior to <strong>2009</strong>/10 are on a UK GAAP basis as that is the basis on which the targets<br />
were set for those years.<br />
39.1 Breakeven performance<br />
2005/06 2006/07 2007/08 2008/09 <strong>2009</strong>/10<br />
£000 £000 £000 £000 £000<br />
Turnover 334,815 351,780 345,451 378,400 397,456<br />
Retained surplus/(deficit) for the year (16,009) (16,844) (35,621) (35,674) (56,243)<br />
Adjustment for:<br />
Timing/non-cash impacting distortions:<br />
Use of pre - 1.4.97 surpluses (FDL(97)24 Agreements) 0 0 0 0 0<br />
2006/07 PPA (relating to 1997/98 to 2005/06) 0 0 0 0 0<br />
2007/08 PPA (relating to 1997/98 to 2006/07) 0 0 0 0 0<br />
2008/09 PPA (relating to 1997/98 to 2007/08) 0 0 0 0 0<br />
<strong>2009</strong>/10 PPA (relating to 1997/98 to 2008/09) 0 0 0 0 0<br />
Adjustments for Impairments 0 0 0 9,460 31,862<br />
Consolidated Budgetary Guidance -<br />
Adjustment for Dual Accounting under IFRIC12* 0 0 0 0 2,100<br />
PPAs from IFRS Transition not Included above<br />
(for 09/10 Accounts) 0 0 0 0 0<br />
Other agreed adjustments 0 0 0 0 0<br />
Break-even in-year position (16,009) (16,844) (35,621) (26,214) (22,281)<br />
Break-even cumulative position (15,989) (32,833) (68,454) (94,668) (116,949)<br />
Due to the introduction of International Financial<br />
Reporting St<strong>and</strong>ards (IFRS) accounting in <strong>2009</strong>/10,<br />
NHS Trust’s financial performance measurement needs<br />
to be aligned with the guidance issued by HM<br />
Treasury measuring Departmental expenditure.<br />
Therefore, the incremental revenue expenditure<br />
resulting from the application of IFRS to IFRIC 12<br />
schemes (which would include PFI schemes), which<br />
has no cash impact <strong>and</strong> is not chargeable for overall<br />
budgeting purposes, is excluded when measuring<br />
Breakeven performance.<br />
The Trust's recovery plan, approved by the SHA aims<br />
to achieve break-even in 2011/12<br />
If anticipated financial year of recovery is more than<br />
two years state the period agreed with SHA<br />
2005/06 2006/07 2007/08 2008/09 <strong>2009</strong>/10<br />
% % % % %<br />
Materiality test (I.e. is it equal to or less than 0.5%):<br />
Break-even in-year position as a percentage of turnover -5% -5% -10% -7% -6%<br />
Break-even cumulative position as a percentage of turnover -5% -9% -20% -25% -29%<br />
The amounts in the above tables in respect of financial years 2005/06 to 2008/09 inclusive have not been restated<br />
to IFRS <strong>and</strong> remain on a UK GAAP basis<br />
Annual Accounts