Annual Report 2006/07 - Royal Devon & Exeter Hospital
Annual Report 2006/07 - Royal Devon & Exeter Hospital
Annual Report 2006/07 - Royal Devon & Exeter Hospital
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<strong>Royal</strong> <strong>Devon</strong> & <strong>Exeter</strong> NHS Foundation Trust <strong>Annual</strong> <strong>Report</strong> <strong>2006</strong>/<strong>07</strong><br />
Summary Financial Statements<br />
The Summary Financial Statements are merely a<br />
summary of the information in the full accounts<br />
that are available on request from the Director of<br />
Finance at the below address:<br />
<strong>Royal</strong> <strong>Devon</strong> and <strong>Exeter</strong> NHS Foundation Trust, Barrack<br />
Road, <strong>Exeter</strong>, EX2 5DW. Telephone (01392) 411611.<br />
These Summary Financial Statements have been<br />
approved by the Board of the <strong>Royal</strong> <strong>Devon</strong> & <strong>Exeter</strong><br />
NHS Foundation Trust.<br />
Angela Pedder, Chief Executive, 7 June 20<strong>07</strong><br />
INDEPENDENT AUDITORS’ STATEMENT TO THE BOARD OF<br />
GOVERNORS OF ROYAL DEVON & EXETER NHS<br />
FOUNDATION TRUST<br />
We have examined the summary financial statements<br />
for the year ended 31 March 20<strong>07</strong> which comprise the<br />
Income and Expenditure Account, the Balance Sheet,<br />
the Statement of Total Recognised Gains and Losses,<br />
the Cashflow Statement and the related notes.<br />
This report, including the opinion, is made solely<br />
to the Board of Governors of <strong>Royal</strong> <strong>Devon</strong> & <strong>Exeter</strong><br />
NHS Foundation Trust in accordance with paragraph<br />
24(5) of Schedule 1 of the Health and Social Care<br />
(Community Health and Standards) Act 2003 (the Act)<br />
and for no other purpose. We do not, in giving this<br />
opinion, accept or assume responsibility for any other<br />
purpose or to any other person to whom this report is<br />
shown or into whose hands it may come save where<br />
expressly agreed by our prior consent in writing.<br />
RESPECTIVE RESPONSIBILITIES OF<br />
DIRECTORS AND AUDITORS<br />
The Directors are responsible for preparing the<br />
<strong>Annual</strong> <strong>Report</strong>. Our responsibility is to report to<br />
you our opinion on the consistency of the summary<br />
financial statements within the <strong>Annual</strong> <strong>Report</strong> and<br />
with the statutory financial statements. We also read<br />
the other information contained in the <strong>Annual</strong> <strong>Report</strong><br />
and consider the implications for our statement if<br />
we become aware of any apparent misstatements or<br />
material inconsistencies with the Summary Financial<br />
Statements.<br />
BASIS OF OPINION<br />
We conducted our work in accordance with Bulletin<br />
1999/6 ‘The auditors’ statement on the summary<br />
financial statement’ issued by the Auditing Practices<br />
Board. Our report on the statutory financial<br />
statements describes the basis of our audit opinion on<br />
those financial statements.<br />
In our opinion the summary financial statements<br />
are consistent with the statutory financial statements<br />
of the Trust for the year ended 31 March 20<strong>07</strong>.<br />
PricewaterhouseCoopers LLP<br />
31 Great George Street, Bristol, BS1 5QD<br />
8 June 20<strong>07</strong><br />
OPINION<br />
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR<br />
ENDED 31 MARCH 20<strong>07</strong><br />
<strong>2006</strong>/<strong>07</strong> 2005/06<br />
£000 £000<br />
Income from activities 2<strong>07</strong>,887 195,273<br />
Other operating income 45,802 46,448<br />
Operating expenses (242,649) (233,554)<br />
OPERATING SURPLUS 11,040 8,167<br />
Loss on disposal of fixed assets (611) (27)<br />
SURPLUS BEFORE NET FINANCING<br />
COSTS 10,429 8,140<br />
Net Financing Income 939 1,033<br />
SURPLUS FOR THE FINANCIAL YEAR 11,368 9,173<br />
Public Dividend Capital dividends<br />
payable (8,466) (8,699)<br />
RECORDED SURPLUS FOR THE YEAR 2,902 474<br />
All activities are classed as continuing.<br />
STATEMENT OF TOTAL RECOGNISED GAINS AND<br />
LOSSES FOR THE YEAR ENDED 31 MARCH 20<strong>07</strong><br />
<strong>2006</strong>/<strong>07</strong> 2005/06<br />
£000 £000<br />
Surplus for the financial year before<br />
dividend payments 11,368 9,173<br />
Unrealised surplus on fixed asset<br />
revaluations/indexation 404 273<br />
Increases in the donated asset reserve<br />
due to receipt of donated assets 410 921<br />
Reductions in the donated asset reserve<br />
due to the depreciation, impairment<br />
and disposal of donated assets (329) (223)<br />
Total recognised gains and losses for<br />
the financial year 11,853 10,144<br />
Prior period adjustments - 286<br />
Total recognised gains and losses<br />
since last annual report 11,853 10,430<br />
37