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RDaSHOlympics, Paralympics and the Queen’s Diamond Jubilee year

Financial accounts2012/13

Financial accounts2012/13

Financial accounts2012/13

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These accounts for the year ended 31 March 2013 have been prepared by Rotherham Doncaster and South Humber NHS Foundation Trust, in accordance with paragraphs 24 and 25, schedule 7 of the National Health Service Act 2006, in the form Monitor has, with the approval of the Treasury, directed.

Christine Bain

Chief executive(as Accounting Officer)

28 May 2013.

Foreword to the accounts

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Statement of comprehensive income for the year ended 31 March 2013 2012/13 2011/12 Note £000 £000 Income from patient care activities 3.1 160,796 161,358 Other operating income 3.5 9,683 8,668 Operating expenses 4 (165,993) (166,679)Operating surplus 4,486 3,347 Finance costs: Finance income 7 309 263 Finance expense -financial liabilities 8 (2,218) (1,824)Finance expense - unwinding of discount on provisions - (14)Public dividend capital dividends payable (1,817) (1,874)Net finance costs (3,726) (3,449) SURPLUS/(DEFICIT) FOR THE YEAR 760 (102) Other comprehensive income: Revaluation (losses)/gains and impairment losses on property, (1,049) 222 plant and equipment Actuarial losses on defined benefit pension schemes (256) (138)

TOTAL COMPREHENSIVE INCOME/(EXPENSE) FOR THE YEAR (545) (18)

The notes on pages 150 to 185 form part of these accounts.

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Statement of financial position as at 31 March 2013 31 March 31 March 2013 2012 Note £000 £000 Non-current assets Intangible assets 9 295 257 Property, plant and equipment 10 90,903 92,093 Trade and other receivables 15 - 95Total non-current assets 91,198 92,445 Current assets Inventories 14 137 133 Trade and other receivables 15 3,201 2,492Cash and cash equivalents 16 19,765 19,884 Total current assets 23,103 22,509 Non-current assets held for sale 895 510 Total assets 115,196 115,464 Current liabilities Trade and other payables 18 (15,631) (14,665) Borrowings 20 (801) (776) Provisions 22 (1,903) (976) Other liabilities 19 (1,557) (2,827)Total current liabilities (19,892) (19,244) Total assets less current liabilities 95,304 96,220 Non-current liabilities Borrowings 20 (22,602) (23,404) Provisions 22 (174) (477) Other liabilities 19 (796) (510)Total non-current liabilities (23,572) (24,391) Total assets employed 71,732 71,829 Financed by taxpayers’ equity: Public dividend capital 35,698 35,250 Revaluation reserve 29,885 31,725 Pension reserve (186) (156) Income and expenditure reserve 6,335 5,010 Total taxpayers’ equity 71,732 71,829

The financial statements on pages 150 to 185 were approved by the Audit Committee on 28 May 2013 and signed on behalf of the Board.

Christine Bain

Chief executive,

28 May 2013.

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Statement of changes in taxpayers’ equity Public dividend Revaluation Pension Income and Total capital (PDC) reserve reserve Expenditure reserve £000 £000 £000 £000 £000Changes in taxpayers’equity for 2012-13 Balance at 1 April 2012 35,250 31,725 (156) 5,010 71,829Surplus for the year - - - 760 760Transfers between reserves - (632) (30) 662 -Impairments - (1,293) - - (1,293)Revaluation gains - 244 - - 244Net loss on defined benefit pension scheme - - - (256) (256)Transfers to income and expenditure reserve in respect of assets disposed of - (152) - 152 -Total comprehensive expenditurefor the year - (1,833) (30) 1,318 (545)Public dividend capital received 448 - - - 448Transfer of excess of current costdepreciation over historic cost depreciation - (7) - 7 -Balance at 31 March 2013 35,698 29,885 (186) 6,335 71,732

Public dividend Revaluation Pension Income and Total capital (PDC) reserve reserve Expenditure reserve £000 £000 £000 £000 £000Changes in taxpayers’ equityfor 2011-12

Balance at 1 April 2011 35,250 32,297 (46) 4,459 71,960Deficit for the year - - - (102) (102)Transfers between reserves - (783) 3 780 -Revaluation gains - 222 - - 222 Net loss on defined benefit pension scheme - - - (138) (138)Transfers to income and expenditure reserve in respect of assets disposed of - (1) - 1 -Transfer of excess of current cost depreciation over historic cost depreciation - (10) - 10 -Total comprehensive expenditurefor the year - (572) 3 551 (18)Other reserve movements - - (113) - (113)Balance at 31 March 2012 35,250 31,725 (43) 5,010 71,829

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Statement of cash flows for the year ended 31 March 2013 2012/13 2011/12 Note £000 £000Cash flows from operating activities Operating surplus 4,486 3,347 Non-cash income and expense Depreciation and amortisation 3,166 3,136 Impairments 1,264 4,427Gain on disposal (76) -Reversal of impairments (236) -Dividends accrued and not received 77 17 Increase in trade and other receivables (614) (237)Increase in inventories (4) (66)Increase in trade and other payables 966 3,406 Decrease in other liabilities (984) (2,700)Increase in provisions 612 170 Other movements in operating cash flows (298) (122)Net cash generated from operating activities 8,359 11,378 Cash flows from investing activities Interest received 123 101 Purchase of intangible assets (137) (142)Purchase of property, plant and equipment (4,628) (3,967)Sales of property, plant and equipment 365 -Net cash generated used in investing activities (4,277) (4,008) Cash flows from financing activities Public dividend capital received 448 -Loans repaid (509) (509)Capital element of Private Finance Initiative obligations (225) (206)Capital element of finance leases (43) (38)Interest paid on loan (435) (456)Interest element of Private Finance Initiative obligations (1,025) (1,044)Interest element of finance leases (167) (170)PDC Dividend paid (1,877) (1,753)Cash flows used in other financing activities (368) -Net cash generated from/(used in) financing activities (4,201) (4,176) Net (decrease)/increase in cash and cash equivalents (119) 3,194 Cash and cash equivalents at 1 April 19,884 16,690 Cash and cash equivalents at 31 March 16 19,765 19,884

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Accounting policies and other informationMonitor has directed that the financial statements of NHS foundation trusts shall meet the accounting requirements of the NHS Foundation Trust Annual Reporting Manual which shall be agreed with HM Treasury. Consequently, the following financial statements have been prepared in accordance with the FT ARM 2012/13 issued by Monitor.The accounting policies contained in that manual follow International Financial Reporting Standards (IFRS) and HM Treasury’s Financial Reporting Manual to the extent that they are meaningful and appropriate to NHS foundation trusts. The accounting policies have been applied consistently in dealing with items considered material in relation to the accounts.

Accounting conventionThese accounts have been prepared under the historical cost convention modified to account for the revaluation of property, plant and equipment and on the assumption that the Trust is a going concern.

1 IncomeIncome in respect of services provided is recognised when, and to the extent that, performance occurs and is measured at the fair value of the consideration receivable. The main source of income for the Trust is contracts with commissioners in respect of healthcare services. When income is received for a specific activity which is to be delivered in the following financial year, that income is deferred. Income from the sale of non-current assets is recognised only when all material conditions of sale have been met, and is measured as the sums due under the sale contract.

1.1 Expenditure on employee benefits

Short-term employee benefitsSalaries, wages and employment related payments are recognised in the period in which the service is received from the employees. The cost of annual leave entitlement earned but not taken by employees at the end of the period is recognised

in the financial statements to the extent that employees are permitted to carry-forward leave to the following period.

Pension costs NHS Pension costsPast and present employees are covered by the provisions of the NHS Pension Scheme. The scheme is an unfunded, defined benefit scheme that covers NHS employers, general practices and other bodies, allowed under the direction of the Secretary of State, in England and Wales. It is not possible for the Trust to identify its share of the underlying scheme liabilities. Therefore, the scheme is accounted for as a defined contribution scheme. Employer’s pension cost contributions are charged to operating expenses as and when they become due. Additional pension liabilities arising from early retirements are not funded by the scheme except where the retirement is due to ill-health. The full amount of the liability for the additional costs is charged to the operating expenses at the time the Trust commits itself to the retirement, regardless of the method of payment.

Local Government Superannuation SchemeSome employees are members of the Local Government Superannuation Scheme, which is a defined benefit pension scheme. The scheme assets and liabilities attributable to those employees can be identified and are recognised in the Trust’s accounts. The assets are measured at fair value and the liabilities at the present value of the future obligations.

Since 1972, each April, public sector pensions have been increased in line with the Retail Prices Index (RPI). H M Treasury confirmed that from April 2011, the increase in pensions will be linked to the Consumer Prices Index (CPI).The increase in the liability arising from pensionable service earned during the year is recognised within operating expenses. The expected gain from scheme assets is recognised within finance income. The interest cost during the year arising from the unwinding of the discount on the scheme liabilities is recognised

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within finance costs. Actuarial gains and losses during the year are recognised in the Income and Expenditure Reserve and reported in the Statement of Comprehensive Income, as an item of ‘Other Comprehensive Income’.

1.2 Expenditure on other goods and services

Expenditure on goods and services is recognised when, and to the extent that they have been received, and is measured at the fair value of those goods and services. Expenditure is recognised in operating expenses except where it results in the creation of a non-current asset such as property, plant and equipment.

1.3 Property, plant and equipment

RecognitionProperty, plant and equipment is capitalised where:

• it is held for use in delivering services or for administrative purposes;

• it is probable that future economic benefits will flow to, or service potential will be supplied to, the Trust;

• it is expected to be used for more than one financial year;

• the cost of the item can be measured reliably; and

• the item has cost of at least £5,000; or collectively, a number of items have a cost of at least £5,000 and individually have a cost of more than £250, where the assets are functionally interdependent, they had broadly simultaneous purchase dates, are anticipated to have simultaneous disposal dates and are under single managerial control; or items form part of the initial equipping and setting-up cost of a new building, ward or unit, irrespective of their individual or collective cost. Where a large asset, for example a building, includes a number of components with significantly different asset lives, the components are treated as separate assets and depreciated over their own useful economic lives.

Measurement

ValuationAll property, plant and equipment is measured

initially at cost, representing the cost directly attributable to acquiring or constructing the asset and bringing it to the location and condition necessary for it to be capable of operating in the manner intended by management. All assets are measured subsequently at fair value. Land and buildings used for the Trust’s services or for administrative purposes are stated in the Statement of Financial Position at their revalued amount, being the fair value at the date of the revaluation less any subsequent accumulated depreciation and impairment losses. The revaluation policy of the Trust is to perform a full valuation every five years with an interim valuation in the third year. Land and building values are also reviewed annnually in order to ensure that the carrying amounts are not materially different from those that would be determined at the end of the reporting period. Valuations are carried out by professionally qualified valuers in accordance with the Royal Institution of Chartered Surveyor’s ‘Red book’ (RICS) Appraisal and Valuation Manual. Fair values are determined as follows: • Land and non-specialised buildings - market value for existing use

• Specialised buildings - depreciated replacement cost

• Non-operational property and surplus land - open market value

Until 31 March 2008, the depreciated replacement cost of specialised buildings had been estimated for an exact replacement of the asset in its present location. In line with HM Treasury’s standard approach to depreciated replacement cost, the Trust has used valuations based on modern equivalent asset values since 1 April 2009. Where it would meet the location requirements of the service being provided, an alternative site can be valued.

Properties in the course of construction for service or administration purposes are carried at cost, less any impairment loss. Cost includes professional fees but not borrowing costs, which are recognised as expenses immediately, as allowed by IAS 23 for assets held at fair value. Assets are revalued and depreciation commences when they are brought into use. Until 31 March 2008, fixtures and equipment were carried at replacement cost, as assessed by indexation and depreciation of historic cost. From 1 April 2008 indexation ceased and the carrying value of existing assets at that date will be written off

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over their remaining useful lives. New fixtures and equipment are carried at depreciated historic cost as this is not considered to be materially different from fair value. Subsequent expenditureSubsequent expenditure relating to an item of property, plant and equipment is recognised as an increase in the carrying amount of the asset when it is probable that the additional future economic benefits or service potential deriving from the cost incurred to replace a component of such an item will flow to the Trust and the cost of the item can be determined reliably. Where a component of an asset is replaced, the cost of the replacement is capitalised if it meets the criteria for recognition above. The carrying amount of the part replaced is de-recognised. Other expenditure that does not generate additional future economic benefits or service potential, such as repairs and maintenance, is charged to the Statement of Comprehensive Income in the period in which it is incurred.

Depreciation Freehold land is considered to have an infinite life and is not depreciated.

Otherwise, depreciation is charged to write off the cost or the valuation of property, plant and equipment, less any residual value, over their estimated useful lives, in a manner that reflects the consumption of economic benefits or service delivery potential of the assets. The estimated useful life of an asset is the period over which the Trust expects to obtain economic benefits or service potential from the asset. This is specific to the Trust and may be shorter than the physical life of the asset itself. Estimated useful lives and residual values are reviewed each year end with the effect of any material changes recognised on a prospective basis. Property, plant and equipment which has been reclassified as ‘Held for Sale’ ceases to be depreciated upon the reclassification. Assets in the course of construction are not depreciated until the asset is brought into use. Revaluation gains and lossesRevaluation gains are recognised in the revaluation reserve, except where, and to the extent that, they reverse a revaluation decrease that has previously been recognised in operating expenses, in which case they are recognised in operating income.

Revaluation losses are charged to the revaluation reserve to the extent that there is an available balance for the asset concerned, and thereafter are charged to operating expenses. Gains and losses recognised in the revaluation reserve are reported in the Statement of Comprehensive Income as an item of ‘other comprehensive income’. ImpairmentsIn accordance with the FT ARM, impairments that are due to the loss of economic benefits or service potential in the asset are charged to operating expenses. A compensating transfer is made from the revaluation reserve to the income and expenditure reserve of an amount equal to the lower of (i) the impairment charged to operating expenses; and (ii) the balance in the revaluation reserve attributable to that asset before impairment.

An impairment arising form a loss of economic benefit or service potential is reversed when, and to the extent that, the circumstances that gave rise to the loss is reversed. Reversals are recognised in operating income to the extent that the asset is restored to the carrying amount it would have had if the impairment had never been recognised. Any remaining reversal is recognised in the revaluation reserve. Where, at the time of the original impairment, a transfer was made from the revaluation reserve to the income and expenditure reserve, an amount is transferred back to the revaluation reserve when the impairment reversal is recognised. Other impairments are treated as revaluation losses. Reversals of ‘other impairments’ are treated as revaluation gains. De-recognitionAssets intended for disposal are reclassified as ‘Held for Sale’ once all of the following criteria are met:

• the asset is available for immediate sale in its present condition subject only to terms which are usual and customary for such sales; and

• the sale is highly probable i.e.

• management are committed to a plan to sell the asset;

• an active programme has begun to find a buyer and complete the sale; • the asset is being actively marketed at a reasonable price;

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• the sale is expected to be completed within twelve months of the date of classification as ‘Held for Sale’; and

• the actions needed to complete the plan indicate it is unlikely that the plan will be dropped or significant changes made to it.

Following reclassification, the assets are measured at the lower of their existing carrying amount and their ‘fair value less costs to sell’. Depreciation ceases to be charged and the assets are not revalued, except where the ‘fair value less costs to sell’ falls below the carrying amount. Assets are de-recognised when all material sale contract conditions have been met. Property, plant and equipment which is to be scrapped or demolished does not qualify for recognition as ‘Held for Sale’ and instead is retained as an operational asset and the asset’s economic life is adjusted. The asset is de-recognised when scrapping or demolition occurs. Private Finance Initiative (PFI) transactionsPFI transactions which meet the IFRIC 12 definition of a service concession, as interpreted in HM Treasury’s FREM, are accounted for as ‘on-Statement of Financial Position’ by the Trust. The underlying assets are recognised as property, plant and equipment at their fair value. An equivalent financial liability is recognised in accordance with IAS 17. The annual contract payments are apportioned between the repayment of the liability, a finance cost and the charges for the services. The finance cost is calculated using the implicit interest rate for the scheme. The service charge is recognised in operating expenses and the finance cost is charged to Finance Costs in the Statement of Comprehensive Income.

1.4 Intangible assets RecognitionIntangible assets are non-monetary assets without physical substance which are capable of being sold separately from the rest of the Trust’s business or which arise from contractual or other legal rights. They are recognised only where it is probable that future economic benefits will flow to, or service potential be provided to the Trust, when they are capable of being used in the Trust’s activities for more than one year, where the cost of the asset can be measured reliably and they have a cost of at least £5,000.

Software Software which is integral to the operation of the hardware e.g an operating system, is capitalised as part of the relevant item of property, plant and equipment. Software which is not integral to the operation of the hardware e.g application software, is capitalised as an intangible asset.

Measurement All of the Trust’s intangible assets are software licences.They are measured at cost, comprising all directly attributable costs needed to create, produce and prepare the asset to the point that it is capable of operating in the manner intended by management. Following initial recognition, because there is no active market for the licences, they are carried at depreciated historic cost. Amortisation Intangible assets are amortised over their expected useful lives in a manner consistent with the consumption of economic or service delivery benefits. Decreases in value as a result of impairment are charged to operating expenses.

1.5 Leases Leases are classified as finance leases when substantially all the risks and rewards of ownership are transferred to the lessee. All other leases are classified as operating leases. The Trust as lessee Property, plant and equipment held under finance leases are initially recognised, at the inception of the lease, at fair value, or if lower, at the present value of the minimum lease payments, discounted using the interest rate implicit in the lease. A matching liability is recorded for the lease obligation to the lessor. The asset and liability are recognised at the commencement of the lease. Thereafter the asset is accounted for as an item of property, plant and equipment. The annual rental is split between the repayment of the liability and a finance cost so as to achieve a constant rate of finance over the life of the lease. The annual finance cost is charged to Finance Costs in the Statement of Comprehensive Income. The lease liability is de-recognised when the liability is discharged, cancelled or expires.

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Operating lease rentals are recognised as an expense on a straight-line basis over the lease term. Lease incentives are recognised initially as a liability and subsequently as a reduction of rentals on a straight-line basis over the lease term. Where a lease is for land and buildings, the land and the building components are separated and individually assessed as to whether they are operating or finance leases. The Trust as lessor Amounts due from lessees under finance leases are recorded as receivables at the amount of the Trust’s net investment in the lease. Finance lease income is allocated to accounting periods to reflect a constant periodic rate of return on the Trust’s net investment outstanding in respect of the lease. Rental income from operating leases is recognised on a straight-line basis over the term of the lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

1.6 Inventories Inventories are valued at the lower of cost and net realisable value. The cost of inventories is measured using the first in, first out method.

1.7 Financial instruments Recognition Financial assets and financial liabilities which arise from contracts for the purchase or sale of non- financial items (such as goods or services), which are entered into in accordance with the Trust’s normal purchase, sale or usage requirements, are recognised when, and to the extent which, performance occurs i.e. when receipt or delivery of the goods or services is made. Financial assets or liabilities in respect of assets acquired or disposed of through finance leases are recognised and measured in accordance with the accounting policy for leases described above. All other financial assets and financial liabilities are recognised when the Trust becomes a party to the contractual provisions of the instrument.

De-recognition All financial assets are de-recognised when the rights to receive cashflows from the asset have expired or the Trust has transferred substantially all of the risks and rewards of ownership. Financial liabilities are de-recognised when the obligation is discharged, cancelled or expires. Classification and measurement The Trust’s financial assets are categorised as ‘Loans and receivables’. The Trust’s financial liabilities are categorised as ‘Other financial liabilities’. Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments which are not quoted in an active market. These are included in current assets. The Trust’s loans and receivables comprise; cash at bank and in hand, NHS receivables and other receivables.

Loans and receivables are recognised initially at fair value, net of transaction costs, and are measured subsequently at amortised cost, using the effective interest method. The effective interest rate is the rate that discounts exactly estimated future cash receipts through the expected life of the financial asset or, where appropriate, a shorter period, to the net carrying amount of the financial asset. Interest on loans and receivables is calculated using the effective interest method and credited to the Statement of Comprehensive Income. Other financial liabilitiesFinancial liabilities are recognised initially at fair value, net of transaction costs incurred, andmeasured subsequently at amortised cost using the effective interest method. The effective interest rate is the rate that discounts exactly estimated future cash payments through the expected life of the financial liability or, when appropriate a shorter period, to the net carrying amount of the financial liability. They are included in current liabilities except for amounts payable more than 12 months after the Statement of Financial Position date, which are classified as non-current liabilities.

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Interest on financial liabilities carried at amortised cost is calculated using the effective interest method and charged to Finance costs.

Interest on financial liabilities taken out to finance property, plant and equipment or intangible assets is not capitalised as part of the cost of those assets. All of the Trust’s financial assets and liabilities are valued at ‘amortised cost’.

Impairment of financial assetsAt the Statement of Financial Position date, the Trust assesses whether any financial assets, are impaired. Financial assets are impaired and impairment losses recognised if, and only if, thereis objective evidence of impairment as a result of one or more events which occurred after the initial recognition of the asset and which has an impact on the estimated future cash flows of the asset. For financial assets carried at amortised cost, the amount of the impairment loss is measured as the difference between the asset’s carrying amount and the present value of the revised future cash flows discounted at the asset’s original effective interest rate. The loss is recognised in the Statement of Comprehensive Income and the carrying amount of the asset is reduced through the use of a bad debt provision. All financial assets are regularly reviewed and where there is a probability of impairment loss a provision for bad debt is made.

1.8 Cash and cash equivalents Cash is cash in hand and deposits with any financial institution repayable without penalty on notice of not more than 24 hours. Cash equivalents are investments that mature in 3 months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and that form an integral part of the Trust’s cash management.

1.9 Provisions

The Trust recognises a provision where it has a present legal or constructive obligation of uncertain timing or amount; for which it is probable that there will be a future outflow of cash or other

resources; and a reliable estimate can be made of the amount. The amount recognised in the Statement of Financial Position is the best estimate of the resources required to settle the obligation. Where the effect of the time value of money is significant, the estimated risk-adjusted cash flows are discounted using the discount rates published and mandated by H M Treasury.

Clinical negligence costsThe NHS Litigation Authority (NHSLA) operates a risk pooling scheme under which the Trust pays an annual contribution to the NHSLA which in return settles all clinical negligence claims. The contribution is charged to expenditure. Although the NHSLA is administratively responsible for all clinical negligence cases the legal liability remains with the Trust. The total value of clinical negligence provisions carried by the NHSLA on behalf of the Trust is disclosed at note 22 but is not recognised in the Trust’s accounts. Non-clinical risk poolingThe Trust participates in the Property Expenses Scheme and the Liabilities to Third Parties Scheme. Both are risk pooling schemes under which the Trust pays an annual contribution to the NHS Litigation Authority and, in return, receives assistance with the costs of claims arising. The annual membership contributions, and any excesses payable in respect of particular claims are charged to operating expenses when the liability arises.

1.10 Contingencies

Contingent assets (that is, assets arising from past events whose existence will only be confirmed by one or more future events not wholly within the entities control) are not recognised as assets, but are disclosed in a note to the accounts where an inflow of economic benefits is probable.

Contingent liabilities are not recognised, but are disclosed in note 23, unless the probable transfer of economic benefits is remote. Contingent liabilities are defined as: • possible obligations arising from past events whose existence will be confirmed only by the occurrence of one or more uncertain future events not wholly within the entity’s control; or • present obligations arising from past events but for which it is not probable that a transfer of economic benefits will arise or for which the amount of the obligation cannot be measured with sufficient reliability.

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1.11 Value Added Tax Most of the activities of the Trust are outside the scope of VAT and, in general, output tax does not apply and input tax on purchases is not recoverable. Irrecoverable VAT is charged to the relevant expenditure category or included in the capitalised purchase cost of fixed assets. Where output tax is charged or input VAT is recoverable, the amounts are stated net of VAT.

1.12 Foreign exchange The functional and presentational currency of the Trust is sterling. A transaction which is denominated in a foreign currency is translated into the functional currency at the spot exchange rate on the date of the transaction.

1.13 Third party assets Assets belonging to third parties (such as money held on behalf of patients) are not recognised in the accounts since the Trust has no beneficial interest in them. However, they are disclosed in note 25 to the accounts in accordance with the requirements of HM Treasury’s FReM.

1.14 Public Dividend Capital (PDC) Public dividend capital (PDC) is a type of public sector equity finance based on the excess of assets over liabilities at the time of establishment of the predecessor NHS trust. HM Treasury has determined that PDC is not a financial instrument within the meaning of IAS 32.

A charge, reflecting the cost of capital utilised by the Trust, is payable as public dividend capital dividend. The charge is calculated at the rate set by HM Treasury (currently 3.5%) on the average relevant net assets of the Trust during the financial year. Relevant net assets are calculated as the value of all assets less the value of all liabilities, except for donated assets, net cash balances held with the Government Banking Services and any PDC dividend balance receivable or payable.In accordance with the requirements laid down by the Department of Health (as the issuer of PDC), the dividend for the year is calculated on the actual average relevant net assets as set out in the pre-audit version of the annual accounts. The dividend thus calculated is not revised should any adjustment

to net assets occur as a result of the audit of the annual accounts.

1.15 Losses and Special Payments Losses and special payments are items that Parliament would not have contemplated when it agreed funds for the health service or passed legislation. By their nature they are items that ideally should not arise. They are therefore subject to special control procedures compared with the generality of payments. They are divided into different categories, which govern the way that individual cases are handled.

Losses and special payments are charged to the relevant functional headings in expenditure on an accruals basis, including losses which would have been made good through insurance cover had NHS foundation trusts not been bearing their own risks (with insurance premiums then being included as normal revenue expenditure). However, the note on losses and special payments is compiled directly from the losses and compensations register which reports amounts on a cash basis with the exception of provisions for future losses.

1.16 Corporation tax

The Trust is not liable to corporation tax as HMRC has advised that legislation to bring NHS foundation trusts’ profits on commercial activities, into the charge to corporation tax has been deferred.

1.17 Accounting Standards that have been issued but not yet adopted The Treasury FREM does not require the following Standards and Interpretations to be applied in 2012-13. The application of these Standards as revised would not have a material impact on the accounts for 2012-13, were they applied in that year: IAS 27 Separate Financial Statements - subject to consultation

IAS 28 Investments in Associates and Joint Ventures - subject to consultation

IAS 9 Financial Instruments - subject to consultation

IFRS 10 Consolidated Financial Statements - subject to consultation

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IFRS 11 Joint Arrangements - subject to consultation

IFRS 12 Disclosure of Interests in Other Entities - subject to consultation

IFRS 13 Fair Value Measurement - subject to consultation

IPSAS 32 Service Concession Arrangement - subject to consultation

IAS19 ‘Employee benefits’ was amended in June 2011. These amendments eliminate the corridor approach and calculate the finance costs on a net funding basis. This revised standard will be applied in 2013/14.

1.18 Critical accounting judgements and key sources of estimation uncertainty

In the application of the Trust’s accounting policies, management is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors, that are considered to be relevant. Actual results may differ from those estimates. The estimates and underlying assumptions are continually reviewed. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the key assumptions concerning the future, and other key sources of estimation uncertainty at the Statement of Financial Position date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

i) Property valuations and asset lives Valuations are undertaken by an independent external valuer. These values will therefore be subject to changes in market conditions and market values. The asset lives are also estimated by the independent external valuer and are the subject of professional judgement.

ii) Accruals Accruals included within the accounts are based on the best available information. This is applied in conjunction with historical experience and based on individual circumstances.

iii) Provisions The estimates of outcome and financial effect of provisions are determined by the judgement of the management of the Trust, supplemented by experience of similar transactions and, in some cases, reports of independent experts.

Uncertainties surrounding the amount to be recognised as a provision are dealt with by various means according to the circumstances. Where the provision being measured involves more than one outcome, the obligation is estimated by weighing all possible outcomes by their associated probabilities; the expected value of the outcome. Where there is a range of possible outcomes, and each point in the range is as likely as the other, the mid-point of the range is used. Where a single outcome is being measured, the individual most likely outcome may be the best estimate of the liability. However, even in such a case, the Trust considers other possible outcomes. iv) Pensions Estimation of the net liability for pensions depends on a number of complex judgements relating to the discount rate used, the rate at which salaries are projected to increase, changes in retirement ages, mortality rates and expected returns on pension fund assets. A firm of consulting actuaries is engaged to provide the Trust with expert advice about the assumptions to be applied.

1.19 Subsidiaries Subsidiary entities are those over which the Trust has the power to exercise control or a dominantinfluence so as to gain economic or other benefits.The income, expenses, assets, liabilities, equity and reserves of subsidiaries are consolidated in full into the appropriate financial statement lines. The capital and reserves attributable to the minority interests are included as a separate item in the Statement of Financial Position.

On consolidation, where the subsidiary’s accounting policies are not aligned with the Trust’s or where the subsidiary’s accounting date is before 1 January or after 30 June, appropriate adjustments are made.

Until 31 March 2013, NHS charitable funds considered to be subsidiaries are excluded from consolidation in accordance with the accounting direction issued by Monitor.

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2. Operating segments Most of the activity of Rotherham Doncaster and South Humber NHS Foundation Trust is healthcare and therefore is not reported segmentally.

3. Operating income

3.1 Income from patient care activities

2012/13 2011/12 £000 £000 NHS foundation trusts 180 208 Primary care trusts 141,297 140,458 Local authorities 14,681 15,923 Non-NHS other 4,638 4,769 Total income from patient care activities 160,796 161,358 All of the income from patient care activities relates to mandatory services provided by the Trust.

3.2 Analysis of income from patient care activities - ‘non-NHS other’ 2012/13 2011/12 £000 £000 South Yorkshire Housing Association 4,398 4,350 Partners Foundation 170 170Other 70 249Total 4638 4,769

3.3 Income from patient care activities by classification 2012/13 2011/12 £000 £000Cost and volume contract income 772 976 Block contract income 151,513 151,691 Clinical Partnerships providing mandatory services 8,511 8,691 (including S31 agreements) Total 160,796 161,358

3.4 Private patient income The Trust has no private patient income.

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3.5 Other operating income Restated 2012/13 2011/12 £000 £000 Education and training 1,854 1,363 Charitable and other contributions to expenditure 131 246 Non-patient care services to other bodies 3,678 3,686 Profit on disposal of assets held for sale 90 - Reversal of impairments on property, plant and equipment 236 - Rental revenue from operating leases 328 495 Income from staff recharges 1,904 1,868 Other income 1,462 1,010 Total other operating income 9,683 8,668

3.6 Analysis of other operating income - ‘other’ Restated 2012/13 2011/12 £000 £000 Estates recharges 29 -Staff accommodation rentals 7 4Creche services 380 347Catering 187 236Property rentals 7 -Other 852 423Total 1,462 1,010

3.7 Operating lease income 2012/13 2011/12 £000 £000

Rents recognised as income in period 328 495 Future minimum lease receipts due: 2012/13 2011/12 £000 £000Receivable: Not later than one year 84 303Later than one year and not later than five years - 12 Later than five years - - 84 315 The majority of lease income is from Partners Foundation Ltd to provide social accommodation for learning disability service users within the community. All other leases are reviewed on an annual basis.

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4. Operating expenses

4.1 Operating expenses comprise: Restated 2012/13 2011/12 £000 £000 Purchase of healthcare from non-NHS bodies 1,125 804 Employee expenses - Executive directors 980 1,006 Employee expenses - Non-executive directors 127 127 Employee expenses - Staff 127,282 124,650 Drug costs 2,717 3,036 Supplies and services - clinical (excluding drug costs) 5,200 6,012 Supplies and services - general 2,060 2,225 Establishment 4,718 4,418 Transport 499 533 Premises 8,246 9,045 Increase in provision for impairment of receivables 2 -Rentals under operating leases 1,605 1,581 Depreciation on property, plant and equipment 3,067 3,031 Amortisation on intangible assets 99 105 Impairments of property, plant and equipment* 1,229 4,427 Impairments of assets held for sale 35 -Audit fees: Statutory audit ** 59 58 Clinical negligence 145 144 Loss on disposal of other property, plant and equipment 14 25 Other 6,784 5,452 Total 165,993 166,679

* Analysis of impairments is given in note 10.3 ** The auditor’s liability is £1million.

4.2 Breakdown of operating expenditure - ‘other’ Restated 2012/13 2011/12 £000 £000 Legal fees 230 102 Consultancy costs 373 75 Training courses 890 599 Patient travel 270 143 Security 134 167 Redundancy 1,400 1,201 Insurance 133 124 Losses 49 109 Joint working arrangements recharge 1,222 1,295 External staff 992 503 Other 1,091 1,134 Total 6,784 5,452

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5 Operating lease expenditure The Trust has a lease for land with The Rotherham Foundation Trust for the provision of an older people’s unit. The lease, which commenced in October 2009 is for 99 years with a minimum lease term of 60 years. All other leases are short term and reviewed in accordance with service provision.

5.1 Operating lease payments recognised as an expense Land Buildings Plant & Other Total Total Machinery 2012/13 2011/12 £000 £000 £000 £000 £000 £000Minimum lease payments 65 933 3 604 1,605 1,581

5.2 Total future minimum lease payments Land Buildings Plant & Other Total Total Machinery 2012/13 2011/12 £000 £000Payable: Not later than one year 65 624 3 421 1,113 1,264 Between one and five years 260 817 - 369 1,446 1,893 After five years 3,348 113 - - 3,461 3,414 Total 3,673 1,554 3 790 6,020 6,571

6. Staff costs and numbers

6.1 Staff costs Restated Permanently Other Total Total Employed 2012/13 2012/13 2012/13 2011/12 £000 £000 £000 £000 Salaries and wages 102,181 3,289 105,470 104,738 Social Security Costs 7,094 86 7,180 7,144 Employer contributions to NHSPA 12,354 127 12,481 12,290 Employer contributions to South Yorkshire pensions 109 - 109 79 Termination benefits 1,400 - 1,400 1,201 Agency staff - 3,022 3,022 1,484 Total 123,138 6,524 129,662 126,936

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6.2 Average number of persons employed Permanently Other Total Total Employed 2012/13 2012/13 2012/13 2011/12 Number Number Number Number Medical and dental 91 22 113 111 Administration and estates 729 2 731 707 Healthcare assistants and other support staff 209 - 209 206 Nursing, midwifery and health visiting staff 2,149 - 2,149 2,127 Scientific, therapeutic and technical staff 264 2 266 242 Social care staff 30 23 53 55 Bank and agency - 190 190 98 Total 3,472 239 3,711 3,546

6.3 Employee benefits 2012/13 2011/12 £000 £000 12,775 12,563 Employee benefits are, £12,590,000 (2011/12: £12,369,000) in respect of the Trust’s contribution to employee pensions and £185,000 (2011/12: £194,000) in respect of annual leave accrual.

6.4 Staff exit packages Compulsory Other Total number Total cost Compulsory Other Total number Total cost redundancies agreed of exit of exit redundancies agreed of exit of exit departures packages packages departures packages packages 2012/13 2012/13 2011/12 2011/12 Number Cost Number Cost Number Cost Number Cost Exit package cost band £000 £000

less than £10,000 - - 4 26 4 26 1 4 37 228 38 232

£10,001 - - £25,000 2 33 6 85 8 118 - - 37 570 37 570

£25,001 - £50,000 1 37 1 30 2 67 2 85 7 264 9 349

£50,001 - £100,000 2 161 - - 2 161 2 117 3 202 5 319 Total 5 231 11 141 16 372 5 206 84 1264 89 1470 In 2012/13, due to the redesign of services in order to achieve future savings there were 5 (2011/12: 5) compulsory redundancies and 11 voluntary redundancies (2011/12: 84).

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6.5 Retirements due to ill-health During 2012/13 there were 8 early retirements due to ill-health (2011/12: 7). The estimated additional pension liability of these ill-health retirements will be £568,689 (2011/12: £680,879). The cost of these ill-health retirements will be borne by the NHS Business Services Authority, Pensions Division.

6.6 South Yorkshire pension fund - retirement benefit obligations The Trust has some employees who are members of the South Yorkshire Pension Fund. In the financial year 2012/13, the Trust contributed £108,772 to the fund (2011/12:£79,097). A pension deficit of £796,000 is included in the Statement of Financial Position as at 31 March 2013, (2011/12: £510,000).

6.6/1 The main actuarial assumptions used at the date of the Statement of Financial Position in measuring the present value of the defined benefit scheme liabilities are: 2012/13 2011/12 Rate of inflation-CPI 2.4% 2.5% Rate of increase in salaries 4.2% 4.3%Rate of increase in pensions 2.4% 2.5%Discount rate 4.2% 4.9%Expected return on assets (average) 5.8% 5.6%

6.6/2 The major categories of plan assets as a percentage of total plan assets are: 2012/13 2011/12 £000 £000 Equities 2,358 61.4% 2,036 62.3%Government bonds 426 11.1% 555 17.0%Other bonds 392 10.2% 252 7.7%Property 357 9.3% 323 9.9%Cash/liquidity 31 0.8% 101 3.1%Other 276 7.2% - Total 3,840 3,267

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6.6/3 The expected return on the plan assets The expected rate of return on plan assets is based on market expectations, at the beginning of the period for investment returns over the entire life of the related obligation. The assumption used is the average of the following assumptions appropriate to the individual asset classes weighted by the proportion of the assets in the particular asset class.The rates quoted are gross of expenses. Asset class Investment returns as at 01 April 2012 Equities 7.0%Government bonds 3.1% Other bonds 4.1% Property 6.0% Cash current assets 0.5% Other 7.0%

6.6/4 Amounts recognised in the Statement of Comprehensive Income 2012/13 2011/12 £000 £000 Current service cost (138) (87) Past service gain - - Interest on pension obligations (187) (154) Expected return on plan assets 186 165 Total pension cost recognised (139) (76) Actual return on plan assets 468 131 From April 2011 public sector pensions have increased in line with the Consumer Price Index. Prior to this they were linked to the Retail Price Index.

6.6/5 Amounts recognised as ‘other comprehensive income’ in the Statement of Comprehensive Income 2012/13 2011/12 £000 £000Actuarial losses (256) (138) Actuarial losses recognised in the SoCI (256) (138)

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6.6/6 Amounts recognised in the Statement of Financial Position (SoFP) 2012/13 2011/12 2010/11 2009/10 2008/09 £000 £000 £000 £000 £000Present value of funded benefit obligations 4,636 3,777 2,618 3,197 2,083 Less fair value of scheme assets (3,840) (3,267) (2,356) (2,467) (1,779)Deficit in the scheme 796 510 262 730 304 Experience gains/(losses) on plan assets 281 (34) (262) 476 (466)Experience losses on plan liabilities - - 515 - -

6.6/7 Reconciliation of opening and closing SoFP balances 2012/13 2011/12 £000 £000 Deficit in the scheme at 1 April 510 262 Expenses recognised in the SoCI 139 76 Contributions paid (Employer) (109) (79) Actuarial losses in the current year 256 138 Business combination - 113 Deficit in the scheme at 31 March 796 510

6.6/8 Change in benefit obligation during the year to 31 March 2012/13 2011/12 £000 £000 Opening defined benefit obligation 3,777 2,618 Current service cost 138 87 Past service gain - - Interest on pension obligations 187 154 Member contributions 46 32 Actuarial (gains)/losses on obligations 537 104 Benefits paid (49) (123) Business combinations - 905 Closing benefit obligation 4,636 3,777

6.6/9 Change in fair value of plan assets during the year to 31 March 2012/13 2011/12 £000 £000 Opening fair value of plan assets 3,267 2,356 Expected return on plan assets 186 165 Actuarial gains/(losses) on assets 281 (34) Employer contributions 109 79 Member contributions 46 32 Benefits paid (49) (123) Business combinations - 792 Closing fair value of assets 3,840 3,267

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7. Finance income - interest revenue

2012/13 2011/12 £000 £000Bank accounts 123 98 Interest on South Yorkshire Pension Fund assets 186 165 Total 309 263

8. Finance Costs - interest expense

2012/13 2011/12 £000 £000 Loans from the Foundation Trust Financing Facility 435 456 Interest on obligations under PFI contracts 1,025 1,044 Interest on obligations under finance leases 167 170 Interest on South Yorkshire Pension Fund liabilities 187 154 Contingent finance costs 368 -Other finance costs 36 -Total 2,218 1,824 No payments were made during 2012/13 under The Late Payment of Commercial Debts (Interest) Act 1998 (2011/12 - nil).

9. Intangible assets Computer Software - Purchased

2012/13 2011/12 £000 £000 Gross cost at 1 April 640 498 Additions - purchased 137 142 Gross cost at 31 March 777 640

Accumulated amortisation at 1 April 383 278 Provided during the year 99 105 Accumulated amortisation at 31 March 482 383 Net book value - 31 March 295 257 The intangible assets are externally generated software licences and are held at historic cost. They have a finite life of between one and eight years. There is no balance on the revaluation reserve for intangibles.

170

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10.3 Property, plant and equipment The land and property were revalued on the basis of Modern Equivalent Asset Value, as at 31 March 2013. The valuation was carried out by an independent valuer of the Valuation Office Agency.

Bases of valuation In accordance with IAS16 property is valued at fair value.

Specialised operational property In accordance with Department of Health advice, specialised operational property is valued at Market Value on the assumption that the property is sold as part of the continuing enterprise in occupation, effectively Existing Use Value.

Depreciated Replacement Cost is the valuation approach adopted for reporting the value of specialised operational property. This is defined as ‘the current cost of replacing an asset with its modern equivalent asset less deductions for physical deterioration and all relevant forms of obsolescence and optimisation.’ Non-specialised operational property The basis of valuation for non-specialised operational property is Fair Value, reflecting the Market Value, assuming continuance of existing use; the total value has been apportioned between the residual amount (the land) and the depreciable amount (the building) and a remaining life provided for the building.

Non-operational property Non-operational property is valued on the basis of Market Value, making the assumption that the property is no longer required for existing operations.

Non-property assets Non-property assets are of short life and low value and are valued at depreciated historic cost as a proxy to fair value.

Impairment of land and property Impairments resulting from the loss of economic benefit are charged to expenditure. Impairments resulting from price changes are charged to the revaluation reserve to the extent of the balance on the reserve for the asset and then to expenditure. Impairments arising from the loss of economic benefit can be reversed if, and to the extent that, the circumstances that gave rise to the loss subsequently reverse. Where an economic benefit impairment is reversed, the amount of the reversal is recognised in income, limited to the amount that restores the asset’s carrying value to that it would otherwise have had if the impairment had not been recognised originally. Any remaining amount of the impairment reversal is recognised in the revaluation reserve. Where, at the time of the original impairment, an amount was transferred from the revaluation reserve to the income and expenditure reserve, an amount is transferred back to the revaluation reserve when the impairment is reversed. In 2012/13 an impairment of £1,229,000 was recognised in expenditure; an impairment of £1,293,000 was recognised in the revaluation reserve and a reversal of an impairment of £236,000 was recognised in income. The operational buildings are valued as specialised assets at depreciated replacement cost. The non-operational buildings are valued at existing use value.

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Property, plant and equipment Economic lives of property, plant and equipment Minimum Maximum Life Life Land Infinite InfiniteBuildings excluding dwellings 3 51Dwellings - -Plant and machinery 1 12Information technology 1 8Furniture and fittings 1 10Transport 1 7 All assets are depreciated on a straight line basis. Assets leased to others by operating lease 31 March 2013 31 March 2012 Land Buildings Land Buildings £ £ £ £Gross carrying amount 786,250 2,069,810 670,000 2,537,167Depreciation charge for the period - 77,465 - 101,987Impairment losses for the period (6,250) (45,879) - -

11. Capital commitments Contracted capital commitments at 31 March 2013 not otherwise included in these financial statements: 31 March 2013 31 March 2012 £000 £000 Property, plant and equipment 752 213

12. Private Finance Transactions 12.1 Until 2010/11 Rotherham Doncaster and South Humber Mental Health NHS Foundation Trust had two PFI Schemes, one in Doncaster and one in Sheffield. PFI 1 The Sheffield scheme is at Swallownest Court, Swallownest, Sheffield and provides long term residential accommodation for Mental Health Services. The scheme was transferred to Doncaster and South Humber Healthcare NHS Trust from Rotherham Priority Health Services NHS Trust on 1 April 2002. The PFI agreement is with G. H. Rotherham Ltd and Grosvenor House PLC act as guarantor.

G. H. Rotherham Ltd provide the building for accommodation for Mental Health Services and facilities management for the entire Swallownest Court site including the rehabilitation unit. The annual payment in 2012/13 which is payable monthly, was £265,420. Until 2010/11 payments to G. H. Rotherham Ltd have been made in accordance with the original development and service provision arrangements. The service provision agreement was signed on 21 May 2001.The re-pricing of the annual charge is yearly on the 1st of April in line with the movement in the Retail Price Index.

The scheme has not resulted in any guarantees, commitments or other rights or obligations.

174

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In 2009/10 the Trust negotiated with G. H. Rotherham Ltd and Grosvenor House plc a buy out of the service element of the agreement. As a result of this, payments from April 2010 now relate solely to the lease of the property and in accordance with IAS 17 the agreement has been reclassified and accounted for as a finance lease. In addition the lease contains the option to buy out of the agreement in 2017/18. Further details of the finance lease are given in Note 13. PFI 2 The Trust also has a PFI scheme for the provision of new serviced accommodation, through which the Trust’s Mental Health Services for Older People and Mental Health Rehabilitation Services can be provided. The buildings are on the St. Catherine’s

site and on a new site at Bentley. The PFI agreement is with Albion Healthcare (Doncaster) Ltd who have a contract with HBG (Facilities Management) Ltd to provide hard facilities management services to the PFI buildings. Payments commenced on 10 May 2005 when the buildings became available for occupation. The payment in 2012/13, which is payable monthly in advance, was £2,222,498. The service element of the annual payment was £687,503. The re-pricing of the annual charge is yearly on the 1st of April in line with the movement in the Retail Price Index. The scheme has not resulted in any guarantees, commitments or other rights or obligations. There are no renewal or termination options. Further details of the PFIs are given in Note 12.2 and 12.3.

On SoFP PFI

12.2 Total obligations due: 2012/13 2011/12 £000 £000 Gross PFI obligations 23,854 25,103

Of which liabilities are due: Not later than one year 1,249 1,249 Later than one year, not later than five 5,000 5,000 Later than five years 17,605 18,854 Finance charges allocated to future periods (12,286) (13,310) Net PFI obligations 11,568 11,793 Not later than one year 246 225 Later than one year, not later than five 1,229 1,126 Later than five years 10,093 10,442

12.3 The Trust is committed to make the following payments in respect of the service element of the PFI 2012/13 2011/12 £000 £000 Within one year 688 985 2nd to 5th year inclusive 2,752 3,940 Later than five years 9,705 14,886 Total 13,145 19,811

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13. Finance leases Total obligations due: Buildings Other Total Total 2012/13 2012/13 2012/13 2011/12 £000 £000 £000 £000Gross lease obligations 2,006 52 2,058 2,267 Of which liabilities are due: Not later than one year 182 26 208 208Later than one year, not later than five 628 26 654 781Later than five years 1,196 - 1,196 1278 Finance charges allocated to future periods (1,202) (3) (1,205) (1,371) Net lease obligations 804 49 853 896 Not later than one year 22 24 46 42Later than one year, not later than five 149 25 174 172Later than five years 633 - 633 682

Included in: Current borrowings 46 42Non-current borrowings 807 854 The building lease is in respect of a property at Swallownest Court, Sheffield. Further details are given in Note 12.1. The equipment leases are in respect of transport vans and the period of the leases are four and five years.

14 Inventories

14.1 Inventories 31 March 2013 31 March 2012 £000 £000 Consumables 137 133

14.2 Inventories recognised in expenses 31 March 2013 31 March 2012 £000 £000 Inventories recognised as an expense in the period 1,376 1,052

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15. Trade and other receivables

15.1 Trade and other receivables 31 March 2013 31 March 2012 £000 £000 Current NHS receivables 1,661 976 Other receivables with related parties 326 246 Provision for impaired receivables (4) (5) Prepayments 552 554 Accrued income 269 449 PDC dividend overpaid 77 17 VAT receivable 189 176 Other receivables 131 79 Total current 3,201 2,492 Non-current Accrued income - 95 The majority of trading is with primary care trusts and local authorities as commissioners of NHS patient care and social care services. As primary care trusts and local authorities are funded by the government to buy NHS services no credit scoring of them is considered necessary.

15.2 Ageing of impaired receivables 31 March 2013 31 March 2012 £000 £000 0-30 days - - 31-60 days - - 61-90 days - 5 91-180 days 4 - over 180 days - - Total 4 5

15.3 Receivables past their due date but not impaired 31 March 2013 31 March 2012 £000 £000 0-30 days 267 248 31-60 days 67 229 61-90 days 4 25 91-180 days 14 33 over 180 days 26 41 Total 378 576

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15.4 Provision for impairment of receivables 2013 2012 £000 £000 Balance at 1 April 5 15 Increase in provision 4 5 Amounts utilised (3) (10)Unused amounts reversed (2) (5)Balance at 31 March 4 5

16. Cash and cash equivalents 2013 2012 £000 £000 Balance at 1 April 19,884 16,707 Net change in year (119) 3,177 Balance at 31 March 19,765 19,884

Made up of Cash with the Government Banking Service 19,673 19,832Commercial banks and cash in hand 92 52Cash and cash equivalents as in Statement of Financial Position 19,765 19,884 Cash and cash equivalents as in Statement of Cash Flows 19,765 19,884

17. Non-current assets held for sale 2013 2012 £000 £000 Net book value of non-current assets held for sale at 1 April 510 510Assets classified for sale in the year 895 - Assets sold in the year (275) - Impairment of assets held for sale (35) - Assets no longer classified as held for sale (200) - Net book value of non-current assets held for sale at31 March 895 510

During 2012/13 Barton Clinic and 79 Sheffield Road were sold. Rosecliffe Learning Disability home was re-classified under property, plant and equipment. 1 to 12 Fulwood Drive and 63,Tickhill Road were deemed to surplus to requirements and are re-classified as held for sale.

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18. Trade and other payables 31 March 2013 31 March 2012 £000 £000Current NHS payables - capital - 328 NHS payables - revenue 1,105 1,105 Amounts due to other related parties 77 1,622 Other trade payables - capital 891 348 Other payables 3,480 2,903 Tax and NI 2,367 2,422 Accruals 7,711 5,937Total current trade and other payables 15,631 14,665

There are no non-current trade and other payables.

Accrual includes £1,599,000 in respect of outstanding pension contributions, (2011/12: £1,493,000).

19. Other liabilities 31 March 2013 31 March 2012 £000 £000Current Deferred income 1,557 2,827Total current other liabilities 1,557 2,827 Non-current Net South Yorkshire Pension Scheme liability 796 510

20. Borrowings 31 March 2013 31 March 2012 £000 £000Current Loans from Foundation Trust Financing Facility 509 509 Obligations under finance leases 46 42Obligations under PFI contracts 246 225Total current borrowings 801 776 Non-current Loans from Foundation Trust Financing Facility 10,473 10,982 Obligations under finance leases 807 854 Obligations under PFI contracts 11,322 11,568 Total non-current borrowings 22,602 23,404 The Trust has a single currency loan agreement with the Foundation Trust Financing Facility for a £12,000,000 loan at an interest rate of 3.83 per cent per annum. The loan is to be repaid over 25 years with a final repayment date of 15 September 2034. £7,000,000 of the loan was drawn down in 2009/10 and £5,000,000 was drawn down in 2010/11. The purpose of the loan is to contribute to the financing of the modernisation of Adult and Older People’s Mental Health services in Rotherham. The final repayment date for the PFI contract is April 2032. Full details are given in note 12. The finance leases consist of £49,000 in respect of transport vehicles and £804,000 in respect of a property in Sheffield. The vehicle leases are for four years ending 2015 and the final payment on the property lease is March 2024. Full details are given in note 12 and 13.

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21. Prudential Borrowing Limit The Trust is required to comply and remain within a prudential borrowing limit. This is made up of two elements: • the maximum cumulative amount of long term borrowing. This is set by reference to four ratio tests set out in the Prudential Borrowing Code for NHS Foundation Trusts. The financial risk rating set under Monitor’s Compliance Framework determines one of the ratios and therefore can impact on the long term borrowing limit; and • the amount of any working capital facility approved by Monitor. Further information on the Prudential Borrowing Code for NHS Foundation Trusts and ComplianceFramework can be found on Monitor’s website. The Trust’s prudential borrowing limit is: 31 March 2013 31 March 2012 £000 £000Total long term borrowing limit set by Monitor 34,900 36,300 Working capital facility agreed by Monitor 9,000 9,000 Total Prudential Borrowing Limit 43,900 45,300 The Trust has actually borrowed £23,403,000 as at 31 March 2013 against its borrowing limit, (£24,180,000 in 2011/12). The Trust has not utilised its working capital facility. Financial ratio Actual ratios Approved PBL Actual ratios Approved PBL 2012/13 ratios 2012/13 2011/12 ratios 2011/12 Minimum dividend cover 3.71 >1 5.00 >1 Minimum interest cover 5.14 > 3 6.61 > 3 Minimum debt service cover 3.48 > 2 4.56 > 2Minimum debt service to revenue 1.41% < 2.5% 1.43% < 2.5% The Trust has remained within the limits set in the Prudential Borrowing Code.

22. Provisions Current Non-current 31 March 2013 31 March 2012 31 March 2013 31 March 2012 £000 £000 £000 £000

Pensions relating to former directors 2 6 - 2 Pensions relating to other staff 20 22 61 73Legal claims 123 99 - - Equal pay 201 - - 307 Redundancy 1,431 476 - - Other 126 373 113 95Total 1,903 976 174 477

180

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23. Contingent liabilities 31 March 2013 31 March 2012 £000 £000 Personal injury claims 102 73 Equal pay claims 170 16 Redundancy 29 18 Other - 9 Net value of contingent liabilities 301 116 The contingent liability amounts for the personal injury claims, equal pay claims and redundancy represent the difference between the maximum estimated liability and the provision, shown in note 22, that has been charged to operating expenses for the most probable liability.

24. Financial Instruments 24.1 Financial assets Loans and receivables

31 March 2013 31 March 2012 £000 £000 NHS trade and other receivables 2,047 1,119 Non NHS trade and other receivables 525 897 Cash at bank and in hand 19,765 19,884 Total financial assets 22,337 21,900 The financial asset which has a floating interest rate is the cash held with the Government Banking Service and cash held on short term deposit. All other financial assets are of fixed interest or are non-interest bearing. 31 March 2013 31 March 2012 £000 £000Denominated in sterling - floating interest rate 19,765 19,884

24.2 Financial liabilities Other financial liabilities 31 March 2013 31 March 2012 £000 £000Borrowings 10,982 11,491 Obligations under finance leases 853 896 Obligations under PFI contracts 11,568 11,793 NHS trade and other payables 3,053 4,819 Non NHS trade and other payables 10,211 7,424 Total financial liabilities 36,667 36,423 Trade and other payables are non interest bearing.

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183

The financial liabilities with fixed interest rates and the annual rate applicable are shown below. 31 March 2013 31 March 2012 £000 £000Foundation Trust Financing Facility loan (3.83%) 10,982 11,491 Doncaster PFI (9.1%) 11,568 11,793 Property lease (22.1%) 804 822 Vehicle leases (2.23%) 37 55 Vehicle leases (6.91%) 12 19

24.3 Fair values The fair value of the Trust’s financial assets and financial liabilities at 31/3/2013 equates to book value.

24.4 Financial risk management

Financial reporting standard IFRS 7 requires disclosure of the role that financial instruments have had during the period in creating or changing the risks a body faces in undertaking its activities. Because of the continuing service provider relationship that the Trust has with primary care trusts and the way those primary care trusts are financed, the Trust is not exposed to the degree of financial risk faced by business entities. Also financial instruments play a much more limited role in creating or changing risk than would be typical of listed companies, to which the financial reporting standards mainly apply. The Trust has limited powers to borrow or invest surplus funds and financial assets and liabilities are generated by day-to-day operational activities rather than being held to change the risks facing the Trust in undertaking its activities.

The Trust’s treasury management operations are carried out by the finance department, within parameters defined formally within the Trust’s standing financial instructions and policies agreed by the Board of Directors. Trust treasury activity is subject to review by the Trust’s internal auditors. Currency riskThe Trust is principally a domestic organisation with the great majority of transactions, assets and liabilities being in the UK and sterling based. The Trust has no overseas operations. The Trust therefore has low exposure to currency rate fluctuations.

Credit riskBecause the majority of the Trust’s income comes from contracts with other public sector bodies, the Trust has low exposure to credit risk. The maximum exposures as at 31 March 2013 are in receivables from customers, as disclosed in the Trade and Other Receivables Note 15.

Liquidity riskThe Trust’s operating costs are incurred under annual service agreements with primary care trusts and local authorities, which are financed from resources voted annually by Parliament . The Trust finances its capital expenditure from funds obtained within its prudential borrowing limit. The Trust is not, therefore, exposed to significant liquidity risks.

25. Third party assets

Cash held at bank and in hand on behalf of service users was £2,134,000 as at 31 March 2013. (£2,071,000: 31 March 2012). Cash held on behalf of service users is excluded from the cash at bank and in hand figure reported in the accounts.

26. Losses and Special Payments

During the year there were 32 cases (33: 31 March 2012) of losses and special payments, totalling £59,000 (£21,000: 31 March 2012).

27. Events after the reporting period

As part of the Transforming Community Services (TCS) process assets relating to the provision of community and mental health services in Doncaster and Rotherham will transfer to the Trust on the 1st of April 2013. Land valued at £365,000 and buildings valued at £3,659,000 will transfer from NHS Doncaster and land valued at £325,000 and

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184

buildings valued at £1,022,000 will transfer from NHS Rotherham. The Trust has been unsuccessful in retaining the provision of the Learning Disability Supported Living services in Doncaster following a tender exercise. The value of the service, which will transfer in June 2013 is £7,500,000.

28. Related party transactions 28.1 Rotherham Doncaster and South Humber NHS Foundation Trust is a body corporate established by order of the Secretary of State. During the year one non-executive member of the Trust Board had a related party interest in an entity which has undertaken transactions with the Trust.

Mrs Kathryn Smart is a voluntary Trustee/Director for the Doncaster Rape Crisis and Sexual Abuse Counselling Service (DRASACS). The Department of Health is regarded as the Trust’s parent. During the year Rotherham Doncaster and South Humber NHS Foundation Trust had a significant number of material transactions with the Department, and with other entities for which the Department is regarded as the parent Department.

In addition, the Trust had a number of material transactions with other Government Departments and other central and local Government bodies. Most of these transactions were with Doncaster Metropolitan Borough Council in respect of the Supporting People in the Community initiative.

Details of the transactions are given on page 185.

28.2 Key management compensation 31 March 2013 31 March 2012 £000 £000 Salaries and short-term employee benefits 933 1087 Post-employment benefits. 94 110 Total 1027 1197

There are six executive directors accruing benefits under the NHS Pension Scheme, which is a defined benefit scheme.

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185

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e fu

nd.

At

31 M

arch

201

3 th

e to

tal f

und

bala

nce

was

£71

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0 an

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t in

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ins

of £

44,0

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Th

e Tr

ust

hold

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Fun

d.

RDaSH

Trust Headquarters

Woodfield HouseTickhill Road

BalbyDoncasterDN4 8QN

Telephone: 01302 796000

Website: www.rdash.nhs.uk