Annual Report and Accounts 2012/13 - Royal Devon & Exeter Hospital

ROYAL DEVON AND EXETER NHS FOUNDATION TRUST - ANNUAL ACCOUNTS 2012/13
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED
31 MARCH 2013
2012/13 2011/12
Note £000 £000
Income from activities 3 300,852 287,244
Other operating income 4 66,156 63,350
Operating income 367,008 350,594
Operating expenses - excluding property impairment charge 5 (358,414) (339,647)
Property impairment charge 5 & 16.5 (22,839) -
Operating (deficit) / surplus (14,245) 10,947
Finance costs
Finance income 10 268 279
Finance expense 11 (950) (1,018)
PDC dividends payable 14 (6,653) (7,178)
Net finance costs (7,335) (7,917)
(Deficit) / surplus for the year (21,580) 3,030
Other comprehensive income
Revaluation (losses) on property, plant and equipment 16.5 (23,459) -
Total comprehensive (deficit) /surplus for the year (45,039) 3,030
The above property impairment charge of £22.839m has arisen due to the revaluation of the Trust's land and buildings.
This expense is a technical accounting adjustment and has no detrimental impact on the Trust's cash reserves. Excluding
the property impairment charge, and the revaluation reduction of £23.459m, the Trust would have achieved a surplus of
£1.259m for the year ended 31 March 2013.
Page 6