Annual Report and Accounts - The Great Western Hospital

Great Western Hospitals NHS Foundation Trust
Accounts for the year ended 31 March 2012
8. Retirements due to ill-health
During the year to 31 March 2012 there were 5 early retirements from the Trust agreed on the grounds
of ill-health (31 March 2010 - 4 early retirements). The estimated additional pension liabilities of these
ill-health retirements will be £368,490 (31 March 2011 - £113,566). The cost of these ill-health
retirements will be borne by the NHS Pensions Agency.
9. Better Payment Practice Code
9.1 Better Payment Practice Code - measure of compliance
Year Ended 31 March 2012 Year ended 31 March 2011
Number £000 Number £000
Total trade bills paid in the year 41,617 77,899 36,766 106,952
Total trade bills paid within target 35,101 67,917 34,578 103,129
Percentage of trade bills paid within target 84.34% 87.19% 94.05% 96.43%
Total NHS bills paid in the year 2,078 25,585 2,045 22,927
Total NHS bills paid within target 1,038 12,426 1,518 19,952
Percentage of NHS bills paid within target 49.95% 48.57% 74.23% 87.02%
The Better Payment Practice Code requires the Trust to aim to pay all undisputed invoices by the due date or within
30 days of receipt of goods or a valid invoice, whichever is later.
9.2 The Late Payment of Commercial Debts (Interest) Act 1998
The Trust was charged £558.51 in the year for late payment of commercial debts (31 March 2011
£2,833.79).
10. Finance Income Year Ended Year Ended
31 March 31 March
2012 2011
£000 £000
Interest on loans and receivables 333 217
333 217
11. Finance Expense Year Ended Year Ended
31 March 31 March
2012 2011
£000 £000
Working Capital Facility Fee 56 97
Interest on late payment of commercial debt 1 3
Interest on obligations under Finance leases 39 0
Interest on obligations under PFI 13,738 14,002
13,834 14,102
12. Taxation
The activities of the Trust have not given rise to any corporation tax liability in the year (31st March
2011- £nil).
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