Annual Report and Accounts - The Great Western Hospital

Great Western Hospitals NHS Foundation Trust
Accounts for the year ended 31 March 2012
22. Borrowings
22.1 Prudential borrowing limit 31 March 31 March
2012 2011
£000 £000
Prudential borrowing limit set by Monitor 133,100 135,700
Working capital facility 14,000 14,000
Actual borrowing in year - long term 132,666 133,461
Actual borrowing in year - working capital 0 0
The Trust is required to comply and remain within a prudential borrowing limit. This is made up of two elements:
- the maximum cumulative amount of long term borrowing. This is set by reference to the four ratios test set out in Monitor's Prudential
Borrowing Code. The financial risk rating set under Monitor's Compliance Framework determines one of the ratios and therefore can
impact on the long term borrowing limit.
- the amount of any working capital facility approved by Monitor.
Further information on the NHS Foundation Trust Prudential Borrowing Code and Compliance Framework can be found on the website
of Monitor, the Independent Regulator of NHS Foundation Trusts.
There has been no necessity to use its overdraft facility. The actual long term borrowing relates to the Trust's PFI Lease Liability and
Finance Leases. These are both within this limit.
22.2 PFI lease obligations
Amounts payable under PFI on SoFP obligations: 31 March 31 March
2012 2011
£000 £000
Gross PFI liabilities 262,969 275,673
Of which liabilities are due
Within one year 15,489 12,579
Between one and five years 52,263 52,152
After five years 195,217 210,942
Less future finance charges (130,934) (142,212)
132,035 133,461
Net PFI liabilities
Of which liabilities are due
Within one year 4,430 1,425
Between one and five years 10,762 9,729
After five years 116,843 122,307
132,035 133,461
Included in:
Current borrowings 4,430 1,425
Non-current borrowings 127,605 132,036
132,035 133,461
22.3 Finance lease obligations
Amounts payable under Finance lease obligations: 31 March 31 March
2012 2011
£000 £000
Gross Finance lease liabilities 768 0
Of which liabilities are due
Within one year 139 0
Between one and five years 506 0
After five years 122 0
Less future finance charges (137) 0
631 0
Net Finance lease liabilities
Of which liabilities are due
Within one year 103 0
Between one and five years 447 0
After five years 81 0
631 0
Included in:
Current borrowings 103 0
Non-current borrowings 528 0
631 0
No finance leases were held in 2010-11.
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