Statement of Accounts 2011/2012 - Blackburn with Darwen Borough ...

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NOTES TO THE FINANCIAL STATEMENTS 22 Provisions Injury and damage compensation claims Other provisions Total £’000 £’000 £’000 Balance at 1 April 2010 ( 404 ) 0 ( 404 ) Additional provisions made in 2010/11 ( 282 ) ( 402 ) ( 684 ) Amounts used in 2010/11 280 0 280 Unused amounts reversed in 2010/11 0 0 0 Balance at 31 March 2011 ( 406 ) ( 402 ) ( 808 ) Additional provisions made in 2011/12 ( 200 ) ( 17 ) ( 217 ) Amounts used in 2011/12 240 0 240 Balance at 31 March 2012 ( 366 ) ( 419 ) ( 785 ) Injury and damage compensation claims A provision has been made to cover the estimated cost of the Council’s contribution to Highways Third Party Liability claims received up to 31 st March 2012 for which settlement has not been made. The provision of £333,800 is based on past experience of court decisions about liability and the amount of damages payable. A second provision was established in 2010/11 for the potential excess insurance liabilities of five outstanding accident claims against the Council’s subsidiary company, Intack Services Limited (formerly Blackburn Borough Transport Limited), which was wound up during 2010/11. Other provisions The council has acted as a guarantor for a loan from the Architectural Heritage Fund to the Heritage Trust for the North West. At 31 March 2012 the loan has not been repaid and a provision continues to be made to cover the value of the loan plus interest accrued to that date (£418,420) 23 Other long term liabilities 1 April 2010 31 March 2011 31 March 2012 £000 £000 £000 195,278 145,329 Pension scheme liability 182,710 21,281 20,430 Council’s share of debt administered by Lancashire County Council under local government reorganisation regulations 19,613 0 0 Building Schools for the Future Private Finance Initiative (PFI ) liability 27,086 965 0 Transport Realisation Account 0 217,524 165,759 229,409 24 Usable reserves Movements in the Council’s usable reserves are detailed in the Movement in Reserves Statement (page 16). - - 48 - -
NOTES TO THE FINANCIAL STATEMENTS 25 Unusable reserves 1 April 2010 31 March 2011 31 March 2012 £000 £000 £000 ( 40,049 ) ( 47,947 ) Revaluation Reserve ( 60,915 ) ( 245,782 ) ( 198,733 ) Capital Adjustment Account ( 182,898 ) 1,949 2,275 Financial Instruments Adjustment Account 2,228 ( 26,294 ) ( 26,291 ) Deferred Capital Receipts Reserve ( 26,288 ) 195,278 145,329 Pensions Reserve 182,710 ( 15 ) 189 Collection Fund Adjustment Account 1,057 4,147 3,928 Accumulating Compensated Absences Adjustment Account 3,713 ( 110,766 ) ( 121,250 ) Total Unusable Reserves ( 80,393 ) Revaluation Reserve The Revaluation Reserve contains the gains made by the Council arising from increases in the value of its Property, Plant and Equipment. The balance is reduced when accumulated gains are: - revalued downwards or impaired and the gains are lost - used in the provision of services and the gains are consumed through depreciation, or - disposed of and the gains are realised The Reserve contains only revaluation gains accumulated since 1 April 2007, the date that the Reserve was created. Accumulated gains arising before that date are consolidated into the balance on the Capital Adjustment Account. 2010/11 2011/12 £000 £000 £000 ( 40,049 ) Balance at 1 April ( 47,947 ) ( 10,704 ) Upward revaluation of assets ( 18,841 ) 1,946 ( 8,758 ) 769 91 860 Downward revaluation of assets and impairment losses not charged to the Surplus/Deficit on the Provision of Services 4,951 Surplus or deficit on the revaluation of noncurrent assets not posted to the Surplus/Deficit on the Provision of Services Difference between fair value depreciation and historical cost depreciation 780 ( 13,890 ) Accumulated gains on assets sold or scrapped 142 Amount written off to the Capital Adjustment Account 922 ( 47,947 ) Balance at 31 March ( 60,915 ) - - 49 - -
Page 1: Statement of Accounts 2011/2012
Page 4 and 5: INDEPENDENT AUDITORS’ REPORT TO T
Page 6 and 7: - - 4 - -
Page 8 and 9: - - 6 - -
Page 10 and 11: FINANCIAL REPORT 2011/2012 1.0 Over
Page 12 and 13: FINANCIAL REPORT 2011/2012 it will
Page 14 and 15: FINANCIAL REPORT 2011/2012 Schools
Page 16 and 17: STATEMENT OF RESPONSIBILITIES 1.0 T
Page 18 and 19: COMPREHENSIVE INCOME AND EXPENDITUR
Page 20 and 21: CASH FLOW STATEMENT The Cash Flow S
Page 22 and 23: NOTES TO THE FINANCIAL STATEMENTS M
Page 24 and 25: NOTES TO THE FINANCIAL STATEMENTS F
Page 26 and 27: NOTES TO THE FINANCIAL STATEMENTS t
Page 28 and 29: NOTES TO THE FINANCIAL STATEMENTS T
Page 30 and 31: Depreciation is calculated on the f
Page 32 and 33: NOTES TO THE FINANCIAL STATEMENTS C
Page 34 and 35: NOTES TO THE FINANCIAL STATEMENTS
Page 36 and 37: NOTES TO THE FINANCIAL STATEMENTS P
Page 38 and 39: NOTES TO THE FINANCIAL STATEMENTS A
Page 40 and 41: NOTES TO THE FINANCIAL STATEMENTS 7
Page 44 and 45: 12 Property, Plant and Equipment -
Page 46 and 47: Reconciliation of the carrying valu
Page 52 and 53: NOTES TO THE FINANCIAL STATEMENTS C
Page 58 and 59: NOTES TO THE FINANCIAL STATEMENTS R
Page 68 and 69: 31 March 2011 NOTES TO THE FINANCIA
Page 70 and 71: - other departure costs (i.e. pay i
Page 72 and 73: Assets and liabilities in relation
Page 74 and 75: NOTES TO THE FINANCIAL STATEMENTS M
Page 76 and 77: NOTES TO THE FINANCIAL STATEMENTS I
Page 78 and 79: The provision made against estimate
Page 80 and 81: COLLECTION FUND INCOME AND EXPENDIT
Page 82 and 83: ANNUAL GOVERNANCE STATEMENT Forewor
Page 84 and 85: ANNUAL GOVERNANCE STATEMENT Equalit
Page 86 and 87: ANNUAL GOVERNANCE STATEMENT Officer
Page 88 and 89: ANNUAL GOVERNANCE STATEMENT A healt
Page 90 and 91: GLOSSARY OF TERMS Accounting polici
Page 92 and 93: GLOSSARY OF TERMS Financial liabili
Page 94: GLOSSARY OF TERMS Remuneration - Al

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