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

16.5 Impairment and revaluation of land, buildings and dwellings
17. Inventories
17.1 Inventories held at year end
31 March 2013 31 March 2012
£000 £000
Drugs 1,567 1,282
Work in progress 53 55
Consumables 2,111 1,863
Energy 330 304
Inventories carried at fair value less costs to sell 398 577
Total inventories 4,459 4,081
17.2 Inventories recognised in expenses 2012/13 2011/12
£000 £000
Inventories recognised in expenses 49,854 43,029
Write-down of inventories recognised in expenses 37 68
Total inventories recognised in expenses 49,891 43,097
18. Trade and other receivables
Current
31 March 2013 31 March 2012
£000 £000
NHS receivables 13,809 8,277
Non-NHS receivables 2,427 1,847
Provision for impaired receivables (67) (68)
Prepayments 2,591 2,318
Accrued income 2,293 942
Other receivables 334 241
PDC dividend receivable 473 14
VAT receivable 188 379
Total current trade and other receivables 22,048 13,950
Prior to signing the accounts x% of NHS receivables had been paid since the year end.
Non-current
ROYAL DEVON AND EXETER NHS FOUNDATION TRUST - ANNUAL ACCOUNTS 2012/13
Accrued income 944 960
Total trade and other receivables 22,992 14,910
Provision for impairment of receivables
At 1 April 68 27
Increase in provision 52 94
Unused amounts reversed (53) (53)
At 31 March 67 68
The provision for impairment of receivables relates to specific receivables over 3 months old.
18.1 Analysis of impaired receivables 31 March 2013 31 March 2012
£000 £000
Ageing of impaired receivables
Over three months 143 173
18.2 Ageing of non-impaired receivables
NOTES TO THE ACCOUNTS
The Trust's land, buildings and dwellings were revalued by the District Valuation Office as at 31 March 2013. The Trust's
specialised buildings and associated land have been valued using the depreciated replacement cost method, based upon
providing a modern equivalent asset (MEA). A fundamental principal of MEA valuations is that a hypothetical buyer would
purchase the least expensive site that would be suitable and appropriate for the existing operations. The valuation of the
Trust's specialised land and buildings has therefore been based upon the Trust hypothetically being located on a suitable
alternative site away from the city centre, where the cost of the land would be significantly lower, but where the Trust would
still be able to re-provide its services. Applying these MEA revaluations has resulted in a net overall decrease of £46.3m in
the value of the Trust's Estate. This reduction in value of the Trust's Estate is recorded in the property plant and equipment
note 16.1. £22.8m has been recognised as an impairment charged to the Statement of Comprehensive Income and the
remaining £23.5m has been recognised as a reduction to the revaluation reserve.
Up to three months 2,534 1,674
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