Highways Agency Annual Report and Accounts 2011-2012

More documents

Recommendations

Info

Financial Statements: SECTION 10 12 Trade and other receivables 12 (a) Analysis by Type 31 Mar 2012 31 Mar 2011 Amounts falling due within one year £000 £000 Trade receivables 5,004 10,602 Deposits and advances 6,252 11,122 VAT 85,560 89,959 Midland Expressway Limited M6 concession 11,446 10,613 Prepayments and accrued income 15,623 11,628 Other receivables 386 35 124,271 133,959 31 Mar 2012 31 Mar 2011 Amounts falling due after more than one year £000 £000 Severn River Crossing Plc subordinated loan 105,011 100,045 Severn River Crossing Plc deferred interest 64,361 54,815 Midland Expressway Limited M6 concession 162,634 153,977 Deposits and advances 8,947 4,605 Staff relocation housing loans 35 46 340,988 313,488 Total 465,259 447,447 A £60 million subordinated loan was granted to Severn River Crossing Plc (SRC) on 26 April 1992 as part of the consideration for a concession agreement granted by the Secretary of State for the operation and maintenance of the existing Severn River crossing and the design, construction, operation and maintenance of a second crossing. The loan is indexed by reference to the Retail Price Index and carries an interest rate of 6% per annum. It is repayable at the end of the concession period, which is the earlier of 2022 and SRC achieving a pre-determined cumulative revenue target from tolls. It is currently predicted the concession period will end in May 2018. This has been extended following an agreement between the Agency and SRC to compensate for ‘Adverse Relevant Events’ brought about by changes to tax legislation. Under a re-financing agreement in 2002-03 interest on the subordinated loan is deferred and is repayable at the end of the concession period. Midland Expressway Ltd (MEL) entered into a contract with the Agency on 28 February 1992 to build and maintain the M6 toll road. The debtor balance represents costs incurred by the Agency in their capacity as agents for land acquisition and compensation payments. The reimbursement of the above costs to the Agency started in October 2010. Highways Agency Annual Report and Accounts 2011-12
SECTION 10: Financial Statements 12 (b) Intra-Government receivables Amounts falling due within Amounts falling after more one year than one year 31 Mar 2012 31 Mar 2011 31 Mar 2012 31 Mar 2011 £000 £000 £000 £000 Balances with: Other central Government bodies 86,419 90,031 - - Local authorities 4,004 5,354 - - Public corporations and trading funds 211 - - - Total Intra-Government balances 90,634 95,385 - - Balances with bodies external to Government 33,637 38,574 340,988 313,488 Total 124,271 133,959 340,988 313,488 13 Cash and cash equivalents 2011-12 2010-11 £000 £000 Balance at 1 April 2011 (18,655) 30,499 Net change in cash and cash equivalent balances 36,032 (49,154) Balance at 31 March 2012 17,377 (18,655) The following balances at 31 March were held at: Commercial banks 45 - Government Banking Service 17,332 (18,655) Balance at 31 March 2012 17,377 (18,655) In 2010-11, the bank overdraft of £18,655,000 was reported in Note 14 Trade and Other Payables. Highways Agency Annual Report and Accounts 2011-12
Page 1 and 2:
Safe roads, reliable journeys, info
Page 3 and 4:
© Crown Copyright 2012 You may re-
Page 5 and 6:
SECTION 1: Highlights Highlights
Page 7 and 8:
M6 Managed Motorway Highways Agency
Page 9 and 10:
Hindhead Tunnels Highways Agency An
Page 11 and 12:
SECTION 1: About us Highways Agency
Page 13 and 14:
SECTION 1: About us Our plans for 2
Page 15 and 16:
SECTION 2: Summary of our Performan
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
SECTION 3: Operating the network Se
Page 23 and 24:
SECTION 3: Operating the network Ca
Page 25 and 26:
SECTION 3: Operating the network In
Page 27 and 28:
SECTION 3: Operating the network Ke
Page 29 and 30:
SECTION 4: Maintaining the network
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
SECTION 5: Sustainability Report Se
Page 37 and 38:
SECTION 5: Sustainability Report Ca
Page 39 and 40:
SECTION 5: Sustainability Report Wo
Page 41 and 42: SECTION 5: Sustainability Report Gr
Page 43 and 44: SECTION 6: Governance statement Fin
Page 45 and 46: SECTION 6: Governance statement The
Page 47 and 48: SECTION 6: Governance statement Fra
Page 49 and 50: SECTION 6: Governance statement who
Page 51 and 52: SECTION 6: Governance statement inv
Page 53 and 54: SECTION 6: Governance statement for
Page 55 and 56: SECTION 6: Governance statement Hig
Page 57 and 58: SECTION 7: Remuneration report for
Page 59 and 60: SECTION 7: Remuneration report for
Page 61 and 62: SECTION 8: Statement of the Account
Page 63 and 64: SECTION 9: The Certificate and Repo
Page 65 and 66: SECTION 10: Financial Statements St
Page 67 and 68: SECTION 10: Financial Statements St
Page 69 and 70: SECTION 10: Financial Statements As
Page 71 and 72: SECTION 10: Financial Statements en
Page 73 and 74: SECTION 10: Financial Statements Ro
Page 75 and 76: SECTION 10: Financial Statements 1.
Page 77 and 78: SECTION 10: Financial Statements In
Page 79 and 80: SECTION 10: Financial Statements 2
Page 81 and 82: SECTION 10: Financial Statements Pe
Page 89 and 90: SECTION 10: Financial Statements Ne
Page 91: SECTION 10: Financial Statements 9
Page 95 and 96: SECTION 10: Financial Statements Ac
Page 97 and 98: SECTION 10: Financial Statements Tu
Page 105: Published by TSO (The Stationery Of
show all

Highways Agency Annual Report and Accounts 2011-2012

Create successful ePaper yourself

Delete template?

Save as template?