ANNUAL ACCOUNTS 2009/10 - Birmingham Children's Hospital

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Birmingham Children's Hospital NHS Foundation Trust - Statutory Accounts Year to 31 March 2010STATEMENT OF CASH FLOWS FOR THE YEAR ENDED31 March 201031 March 2010 31 March 2009Cash flows from operating activitiesNOTE £000 £000Operating surplus from continuing operations 4,148 10,974Non-cash income and expense:Depreciation and amortisation 4,494 4,052Impairments 13,346 -Transfer from the donated asset reserve (6,199) (647)Increase in Trade and Other Receivables (2,821) (904)Increase in Inventories (503) (195)Decrease in Trade and Other Payables (41) (2,799)Decrease in Other Liabilities (691) -(Decrease)/Increase in Provisions (300) 343Other movements in operating cash flows (191) 981Net cash generated from operating activities 11,242 11,805Cash flows from investing activitiesInterest received 202 880Purchase of intangible assets (84) -Purchase of Property, Plant and Equipment (14,074) (7,822)Sales of Property, Plant and Equipment - 513Net cash used in investing activities (13,956) (6,429)Cash flows from financing activitiesPublic dividend capital received 3,808 1,384Interest element of Private Finance Initiative obligations (487) -Public Dividend Capital paid (2,374) (2,562)Cash flows from other financing activities 4,293 5,623Net cash generated from financing activities 5,240 4,445Increase in cash and cash equivalents 2,526 9,821Cash and Cash equivalents at 1 April 26,097 16,276Cash and Cash equivalents at 31 March 28,623 26,097Page 4
Birmingham Children's Hospital NHS Foundation Trust - Statutory Accounts Year to 31 March 2010Note1 ACCOUNTING POLICIESNOTES TO THE ACCOUNTSMonitor has directed that the financial statements of NHS Foundation Trusts shall meet the accounting requirementsof the NHS Foundation Trust Annual Reporting Manual as agreed with HM Treasury. Consequently, the followingfinancial statements have been prepared in accordance with the 2009/10 NHS Foundation Trust Annual ReportingManual issued by Monitor. The accounting policies contained in that manual follow International Financial ReportingStandards and HM Treasury‟s Financial Reporting Manual to the extent that they are meaningful and appropriate toNHS Foundation Trusts. The accounting policies have been applied consistently in dealing with items consideredmaterial in relation to the accounts.1.01 Accounting conventionThese accounts have been prepared under the historical cost convention modified to account for the revaluation ofcertain tangible fixed assets at their value to the business by reference to their current costs. NHS Foundation Trusts,in compliance with HM Treasury‟s Financial Reporting Manual, are not required to comply with the FRS 3requirements to report 'earnings per share' or 'historical profits and losses'.These accounts have been prepared on a going concern basis as described in the Annual Report.1.02 IncomeIncome is accounted for by applying the accruals convention. The main source of income for Birmingham Children'sHospital NHS Foundation Trust ("the Trust") is under contracts from commissioners in respect of healthcare services.Income is recognised in the period in which services are provided. Where income is received for a specific activitywhich is to be delivered in the following financial year, that income is deferred.The Trust receives income under the NHS Injury Cost Recovery Scheme, designed to reclaim the cost of treating injuredindividuals to whom personal injury compensation has subsequently been paid e.g. by an insurer. The Trust recognises theincome when it receives notification from the Department of Work and Pension's Compensation Recovery Unit that theindividual has lodged a compensation claim. The income is measured at the agreed tariff for the treatments provided to theinjured individual, less a provision for unsuccessful compensation claims and doubtful debts.The Trust accounts for the income of partially completed spells based on an average spell cost for the anticipated specialtywhich is adjusted based on the length of stay to take into account any excess bed days.The Trust changed the form of its contracts with NHS Commissioners to follow the Department of Health‟s Payment byResults methodology in 2006/07. As the system of PbR develops, as does the nature of payments to the Trust. In 2008/09 theTrust received Market Forces Factor payments from the Department of Health. These were received from individualcommissioners in 2009/10. The Trust has received Specialist Top-Up funding from PCTs and Specialised Commissioners inboth years.1.03 Employee BenefitsShort-term employee benefitsSalaries, wages and employment-related payments are recognised in the period in which the service is received fromemployees. The cost of leave earned but not taken by employees at the end of the period is recognised in the financialstatements to the extent that employees are permitted to carry forward leave into the following period.Retirement benefit costsPast and present employees are covered by the provisions of the NHS Pensions Scheme. The scheme is an unfunded, definedbenefit scheme that covers NHS employers, General Practices and other bodies, allowed under the direction of the Secretaryof State, in England and Wales. The scheme is not designed to be run in a way that would enable NHS bodies to identify theirshare of the underlying scheme assets and liabilities. Therefore, the scheme is accounted for as if it were a definedcontribution scheme: the cost to the NHS body of participating in the scheme is taken as equal to the contributions payable tothe scheme for the accounting period.Page 5
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ANNUAL ACCOUNTS 2009/10 - Birmingham Children's Hospital

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