12 Months to 31st March 2015 Financial Performance and

Accounts

Andrew Lee, Director of Finance & Commerce

Why do we have a Finance Department?

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Financial Targets as a Foundation Trust

•Generate a surplus

•Achieve Continuity of Service Risk Rating (CoSRR) of at least 3

•Achieve plan submitted to Monitor

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Financial Targets - how did we do?

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Plan Actual Achieved?

I&E position Surplus/(Deficit) £m 0 0.092

Earnings before interest, tax, depreciation and amortisation (EBITDA) - £m

4.439 4.688

Ratios (ratings of 1 to 4) :-

Capital Servicing Capacity 3 3

Liquidity 4 4

Overall Continuity of Service Risk Rating 4 4

Statement of Comprehensive Income

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12 Months to March 2015

£'000

Operating Income from continuing operations 106,373

Operating expenses of continuing operations -103,958

OPERATING SURPLUS / (DEFICIT) 2,415

FINANCE COSTS

Finance income - interest receivable 96

Finance expense - financial liabilities -23

Finance expense - unwinding of discount on provisions 0

Other net gains/(losses) on financial instruments 0

PDC Dividends Payable -2,265

Surplus/(Deficit) for continued operations 223

Surplus/(Deficit) of discontinued operation and gain/loss on disposal of discontinued operations

-131

SURPLUS/(DEFICIT) FOR THE YEAR 92

Headlines for the year• Surplus of £92k, above plan

• Cash balance of £27.4m, decreased by £3.0m

• Capital expenditure £5.4, increase of £3.9m

• Savings programme delivered £5.0m of efficiencies

• Monitor Continuity of Service Risk Rating (CoSRR) 4 (highest rating)

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Where does the income come from - £106.373m

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High Cost-Low Volume

3%

Glouces-tershire

CCG71%

Short-term

Episodic1%

Here-fordshire

CCG16%

Herefordshire Council2%

Other Block1%

Education-Training2%

Other4%

Chart Title

How was expenditure split - £106.281m

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Capital 2014/15

The Trust uses the surplus it generates to help fund the capital programme and improve the facilities for our service users.

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Forward Look

Financial Plans

2014/15 Actual

£m

2015/16 Monitor Plan

£mMovement

£m

Income 106.4 104.4 -2.0

Expenditure 106.3 104.9 -1.4

Surplus / (Deficit) 0.1 -0.5 -0.6

Cost Improvements 5.0 4.4 -0.6

Capex 5.4 8.5 3.1

Cash 27.4 25.1 -2.3

Further Information

A set of accounts is available within the Annual report

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Communications Department

Trust Headquarters2gether NHS Foundation Trust

Rikenel

Montpellier

Gloucester

GL1 1LY

Tel: 01452 894000

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